US News

Earnings per Share of $1.34; $1.25 Excluding CVA/DVA Citigroup Inc. today reported net income for the second quarter 2013 of $4.2 billion, or $1.34 per diluted share, on revenues of $20.5 billion. This compared to net income of $2.9 billion, or $0.95 per diluted share, on revenues of $18.4 billion for the second quarter 2012. […]

Council Names Two Companies for Consolidated Supervision and Enhanced Prudential Standards The Financial Stability Oversight Council (Council) today announced that it had voted to designate two nonbank financial companies to address potential threats to financial stability. This is the Council’s first use of its authority under Title I of the Dodd-Frank Wall Street Reform and […]

Hot off the press direct from the good ol’ USA! Don’t tread on me, buddy! The U.S. Department of the Treasury announced today that it is commencing auctions for all of its Troubled Asset Relief Program’s Capital Purchase Program preferred stock and subordinated debt positions (the “CPP Securities”) in the following eight institutions: Alarion Financial […]

New York Stock Exchange Announces Date of Review of Decision to Remove Verso Paper Corp. From the List NYSE Regulation Inc. (“NYSE Regulation”) announced today that Verso Paper Corp. has requested a review of the determination to remove the Company from the list, as announced on June 25, 2013. The review will be held on […]

It may well turn out to be profitable for investors. Shell has announced a successful exploratory well at Vicksburg in the deep-water Gulf of Mexico. The well is located 75 miles (120 kilometers) offshore in the Mississippi Canyon Block 393 in 7,446 feet (2,269 meters) of water. It was drilled to a total depth of […]

Pound Sterling – the Pound had a week of ups and downs even as released economic data showed that the UK economy is on track to make a recovery. Early in the week a combination of positive construction, PMI and GDP data supported Sterling, sending it upwards against its peers. To ask a currency expert a […]

New US growth slips to four-year low. At 51.4 in June, down from 52.9 in May, the Global All-Industry Output Index – produced by JPMorgan and Markit in association with ISM and IFPSM – posted its lowest reading in a year. The index has nonetheless remained in expansion territory throughout the past 47 months. The […]

The price of oil is up.  Major stock indices are down.  Egypt is in crisis mode again.  Make that “Egypt is still in crisis mode.”  With the satellite news feed from Cairo, millions of people around the world are witnessing millions of Egyptians protesting against what looks like is going to be a short-lived Morsi […]

You remember the Winklevoss twins.  They are the guys to whom Mark Zuckerberg paid $65 million in combined cash and equity in Facebook to settle the lawsuit in which they alleged that Zuckerberg had stolen their social networking idea.  Today, under the sponsorship of Math-Based Asset Services LLC (a Winklevoss company), Cameron and Tyler filed […]

Change in the Murdoch empire News Corp has announced that it has completed the separation of its businesses from 21st Century Fox (formerly called News Corporation), effective today at 4:30 pm EDT. The new News Corp is a leading global network of powerful, valuable and complementary brands in news and information services, sports programming in […]