Market News

Citigroup (C)

Barclays Bank PLC announced it has agreed to acquire the Italian credit card business of Citibank International Bank PLC. Barclays will acquire 197,000 credit card accounts and gross assets of EUR234 million of which substantially all relate to receivables. -
Barclays plans to integrate business and its employees into its existing Barclays Italy business, part of global retail and commercial banking, Western Europe division. Over time, Barclays intends to rebrand acquired credit cards with global Barclaycard brand.

Feb 12 · 12:08:00 PM
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by Larry Etter

CB Richard Ellis Group (CBG)

CB Richard Ellis Group, Inc. has announced that it has reached agreement with its lenders to extend maturities on approximately $156.6 million of debt by offering certain holders the ability to swap into new or existing tranches with longer dated maturities

Feb 11 · 10:22:00 AM · Source: Company Press Release
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by Larry Etter

Morgan Stanley (MS)

Morgan Stanley announced today that its dedicated infrastructure group, Morgan Stanley Infrastructure Partners, will acquire a 40 percent economic stake and a 50 percent voting stake in Southern Star Central Corp., parent company of Southern Star Central Gas Pipeline (Southern Star), an interstate natural gas pipeline and storage operation servicing the Midwest region of the U.S.
The company believes Southern Star offers a unique opportunity for Morgan Stanley Infrastructure Partners to invest in a proven and stable energy asset.

Feb 11 · 10:16:00 AM · Source: Company Press Release
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by Larry Etter

Travelers (TRV)

The Travelers Companies, Inc. has announced that Bill Cunningham has been promoted to Executive Vice President, Business Insurance, leading the company's Business Insurance segment, effective March 1, 2010. Cunningham succeeds John Albano following Albano’s decision to take on a part time role at Travelers so he can pursue outside interests.

Feb 10 · 11:01:00 AM · Source: Company Press Release
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by Larry Etter

Bank of America (BAC)

Bank of America Merrill Lynch today announced that Alastair Borthwick and Lisa Carnoy have been named co-heads of the company's Global Capital Markets business. This move follows the recent announcement that Bruce Thompson, former head of Global Capital Markets, has been appointed chief risk officer for Bank of America.

Feb 10 · 10:58:00 AM · Source: Company Press Release
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by Larry Etter

Hartford Financial Services (HIG)

Hartford Financial Services Group Inc rose in New York trading Tuesday after saying operating earnings probably beat a forecast it gave two months ago. Earnings will be reported on February 4.

Jan 12 · 10:51:00 AM · Source: Business Week
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by Larry Etter

Regions Financing (RF)

Regions Bank announced that it has exceeded its goal of opening one million new checking accounts for consumers and small businesses in 2009.
Growth in the bank’s signature bundled product, Regions LifeGreen Checking and Savings, helped fuel the growth, which has also been instrumental in helping the bank increase deposits by $10 billion since September 2008. Regions exceeded its previous record of account openings in a year by more than 25 percent.

Jan 1 · 4:05:00 PM · Source: Business Wire
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by Michael Oliveto

Regions Financing (RF)

Regions Bank recently won a $43.1 million foreclosure lawsuit targeting the unfinished Azura estate home project in Boca Raton.
Polo Field Estates planned to build 92 homes with prices ranging from $1.6 million to $3 million. Only a handful were built.

Jan 1 · 4:03:00 PM · Source: MSN Money
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by Michael Oliveto

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