Archive for July, 2008

Have banks bottomed out?

Despite stock price jump for many this week, analysts see problems continuing Don’t break out the bubbly just yet.That’s the thinking of several bank watchers who, despite seeing financial services stocks end the week on a high note, say the worst probably isn’t over as the credit crisis approaches its one-year anniversary. (1 hour ago)

Citigroup $2.5 billion loss soothes investors

NEW YORK – Citigroup Inc, the largest U.S. bank, posted a smaller-than-expected quarterly loss on Friday despite $11.7 billion of write-downs and credit losses tied to deteriorating capital markets and the slumping economy. (16 mins ago)

Wells Fargo’s Surprising Strength

While rivals slash their payouts, the bank hiked its dividend 10%. Is its strong quarter a sign of better conditions in banking? (23 mins ago)

Ceridian LifeWorks Offers CareGiverHelper Service to Clients to Ease Stress of Family Caregiving

CareGiverHelper, a provider of social networking solutions/portals for the family caregiver marketplace, announced it will provide a branded community to Ceridian LifeWorks, a leading provider of health and productivity services to more than 18 million individuals and 38,000 companies, organizations and government agencies. (47 mins ago)

Poll Finds Consumers in Favor of Credit Card Fee Transparency

WASHINGTON — A recent poll released by the Merchants Payments Coalition found about three out of four voters favor the Credit Card Fair Fee Act, a bi-partisan legislation that would empower retailers to negotiate credit card fees directly with the credit card industry as a means to cut interchange fees. (28 mins ago)

Ahli United Bank launches Platinum Credit Card

Ahli United Bank B.S.C. has announced the launch of its new Platinum Credit Card which provides unique benefits and specifically caters to the requirements of discerning customers, including the Bank’s Premium and Private banking customers. (16 mins ago)

A New Fashion Catches On in Paris: Cheap Bicycle Rentals

A year after the introduction of the sturdy gray bicycles known as Vélib’s, other major cities, including American ones, are exploring similar projects. (21 mins ago)

GE dims 6%, sells loan arm

HARTFORD, Conn. General Electric Co. reverted to form with no big surprises in its latest earnings report, and investors shocked by an unexpected profit shortfall three months ago showed their appreciation. (2 hours ago)

GE profit falls, meets estimates

Industrial and financial conglomerate General Electric Co. said Friday its profit fell 6 percent in the second quarter, and has agreed to sell its Japanese consumer finance business for $5.4 billion. (7 mins ago)

Barclays launches 10% cash back on debit cards

Financial services provider Barclays today announced a 10 per cent cash back offer for all its debit card customers. The offer is applicable to all purchase transactions made in the country using a Barclays debit card from July 1 to September 30, a statement said here. (42 mins ago)