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Big Banks Cashing In On Rash Of Smaller Bank Failures
NEW YORK (Fortune) — Shares of BB&T Corp. shot higher Friday after reports that it might be scooping up the remains of Colonial BancGroup. It’s no wonder: Such purchases give healthier banks a chance to grow on the cheap. That’s valuable at a time when many institutions have been shrinking in response to the recession.More… »
Three Big Myths About Health-care Reform
(Fortune Magazine) — One of Washington’s true epic battles will play out over the next several weeks. It’s the fight over health-care reform, of course, and it will be big, brutal, and ugly. The stakes are high — trillions of dollars, the reelection prospects of hundreds of legislators, and President Obama’s legacy. So let’s acknowledge… »
Too Big To Fail Is A Thorny Issue For Banks And Regulators
NEW YORK: Lawmakers are quickly learning that “too big to fail” may be too complex to legislate away.The issue of determining which financial firms are worthy of a government rescue, which first took hold when the credit crisis intensified last fall, has been a subject of persistent — and divisive — debate.Top regulators at the… »
Big Banks Cashing In On Rash Of Smaller Bank Failures
NEW YORK (Fortune) — Cleaning up after bank failures is one chore you won’t hear bankers complaining about. Since the start of 2008, 89 banks have failed, including giants Washington Mutual, IndyMac and BankUnited. Scores of additional failures are expected in coming years, as the industry works through trillions of dollars worth of residential and… »
Big Banks Report Second Quarter Profits
NEW YORK: Will the big banks do it again? After enduring criticism that their impressive performance in the previous quarter was largely a fluke, all eyes are on financial giants like Goldman Sachs (GS, Fortune 500), Bank of America (BAC, Fortune 500) and Wells Fargo (WFC, Fortune 500) as they begin to report their second-quarter… »
Big Banks To Stop Accepting California IOUs
NEW YORK: Californians will have fewer places to redeem IOUs issued by the cash-strapped state after Friday.At least two major banks, Wells Fargo (WFC, Fortune 500) and Bank of America (BAC, Fortune 500), will stop accepting the IOUs, while JPMorgan Chase (JPM, Fortune 500) has not yet decided whether it will extend its original July… »
Big Companies Make Hay Off Stimulus
NEW YORK: Big companies, ranging from AT&T to Dell to FedEx to Tyson Foods, are among those cashing in on the billions of dollars of federal stimulus money that is rolling out the door.Some 4.3 billion of federal money is already funding more than 1,500 projects. Of that total, 85%, or 3.6 billion worth, has… »
Big Banks Corner The Mortgage Market
NEW YORK (Fortune) — The refinancing tide has ebbed, but mortgage profits for the nation’s biggest banks are in no danger of drying up. The recent uptick in bond yields has muffled this spring’s home-mortgage refinancing boom. The Mortgage Bankers Association said Wednesday that its refinancing index dropped 24% last week to its lows level… »
Big Banks Rush To Raise More Capital
NEW YORK: Bank of America revealed Tuesday that it was nearly finished raising the 33.9 billion in capital that industry regulators deemed it needed to shield itself from future losses.The nation’s biggest lender by assets said it had raised almost 33 billion since the government announced the results of its so-called stress test for 19… »
Big Drop In Global Server Sales
Big drop in global server sales
Sales of servers worldwide fell almost 25% in the first three months of 2009, against the same period a year earlier, according to market research firm IDC.Global sales were 9.9 bn (6.14 bn), IDC said, the lowest figure since the firm started monitoring the computer server market 12 years ago…. »