Citigroup set to slash 10 percent of investment banking jobs

Published - 06/24/2008 12:00 AM

Citigroup Inc. will cut 10 percent -- or about 6,500 -- of the jobs in its investment banking division, according to reports Monday. The Wall Street Journal said the New York-based bank, which posted a $5.11 billion quarterly loss in April, has more than 350,000 employees around ... 

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Washington Banking ends merger with Frontier; shares tumble

Published - 06/04/2008 12:00 AM

June 4 (Reuters) - Washington Banking Co (WBCO.O: Quote, Profile, Research) shares took a beating on Wednesday, a day after the bank-holding company ended its merger with Frontier Financial Corp (FTBK.O: Quote, Profile, Research), citing Frontier's failure to obtain regulatory approval on time. Frontier had ... 

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New era in banking begins

Published - 05/27/2008 12:00 AM

Source: ITN - A new faster banking system has been launched to enable payments to arrive on the day they are made. Industry body Apacs is rolling out its Faster Payments Service, which will allow same-day payments by telephone, online and through standing orders, cutting the processing time from three days ... 

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Banks that Sold Insurance Were More Profitable in 2007

Published - 05/13/2008 12:00 AM

Banks that sell insurance make more money than banks that don’t. That’s one conclusion from an examination of 2007 bank data by the Bank Insurance Market Research Group [www.singerpubs.com]. Examining Federal Deposit Insurance Corp. call report data, the Mamaroneck, New York-based research group found that banks with some insurance activity ... 

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Regions hires new consumer banking, mortgage executive

Published - 05/05/2008 12:00 AM

David H. Rupp will join Regions Financial Corp. this month to lead the Birmingham-based company's consumer banking and mortgage lines of business. Rupp, who was the sales, service and execution executive for Bank of America's global consumer and small business bank, will start at Regions on May 19. He will ... 

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Customers are increasingly happy with online banking

Published - 04/15/2008 12:00 AM

NEW YORK (AP) — Banks have been disappointing customers many ways lately — tightening mortgage lending standards, paring back home-equity and credit-card lines and lowering savings interest rates — but they're receiving higher marks for at least one thing: their Web sites. Customer satisfaction with online banking sites has risen significantly ... 

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Revenue Watch Applauds World Bank's New Transparency Effort but Cautions that Bank Must Overcome a Legacy of Mistrust in Resource-Rich Nations

Published - 04/13/2008 12:00 AM

WASHINGTON, April 12 /PRNewswire/ -- The Revenue Watch Institute welcomes today's World Bank announcement of a new comprehensive approach to helping resource-rich countries harness the current boom in oil and commodities prices for development. The Revenue Watch Institute works with activists and governments in resource-rich countries around the world. "The ... 

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Bank of America gives MIT $25M for banking research center

Published - 04/01/2008 12:00 AM

The MIT Media Laboratory and Bank of America report creating a new research laboratory on the MIT campus to be called the Center for Future Banking. The research lab is designed to push forward innovation in banking, officials said. Bank of America (NYSE: BAC) has committed $3 million to $5 ... 

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