Banks

Enough to buy an actual gold man? Perhaps! Goldman Sachs Group, Inc. (NYSE:GS) today reported net revenues of $8.61 billion and net earnings of $1.93 billion for the second quarter ended June 30, 2013. Diluted earnings per common share were $3.70 compared with $1.78 for the second quarter of 2012 and $4.29 for the first […]

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. […]

Pound Sterling Over the course of last week the Pound experienced pretty extensive fluctuations. As the week began, disappointing UK industrial production figures and speculation surrounding Federal Reserve chairman Ben Bernanke’s announcement saw Sterling slide against the US Dollar and Euro. To ask a currency expert a question direct, click HERE Or to receive a […]

One headline in particular blew me away this morning – “Banks Urged by Regulators to Adopt Tougher Internal Auditors.”  Well, duh.  While I am reasonably certain that the Chartered Institute for Internal Auditors expects its members to adhere to the highest possible standard of ethic and conduct, the way that the news is being reported. […]

The share price of Lloyd’s Banking Group moved from up .01 pence to down .27 pence in the time it has taken to write this sentence.  Given Lord Levene’s accusation before the Treasury Select Committee that the Group’s leadership has been “disingenuous” in communicating the facts of Lloyds proposed divestiture of the 632 branches referred […]

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 […]

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 […]

Banks:  You can’t live without them;  You can’t shoot them.  But you sure wish you could.  I looked up “scandal” in the dictionary today.  It said, “see ‘Banks’”. The European Commission has revealed that it has issued a Statement of Objections to 13 different financial institutions, accusing them of colluding “to prevent exchanges from...

After several weeks of declines the UK index has registered some welcome progress, finding support just above the round number 6000 and posting a 4.5% rally to test the trendline of falling highs since end-May. Uncertainty may still be rife regarding the future of the US Federal Reserve’s QE3 programme. However, Bernanke had his committee […]

Less than a fortnight after ADVFN reported that the Bank of England had publicly stated that the Royal Bank of Scotland (LSE:RBS) needs to raise £3.2 billion, the Church of England is reportedly heading a consortium that is about to drop some loose change into the offering plate. Most of the reports so far are more or less […]