AMR files bankruptcy exit plan in step towards merger with US Airways
NEW YORK - AMR Corp, the parent company of American Airlines, filed formal plans to exit bankruptcy on Monday, bringing its proposed $11 billion merger with US Airways Group closer to reality.
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Found 1 month ago on channel
Reuters
JPMorgan CEO: ‘Work to Do’ on Controls, Compliance
NEW YORK — JPMorgan Chase, the country’s biggest bank by assets, says its first-quarter earnings soared, even as revenue fell slightly. The bank made $6.1 billion in the first quarter, after stripping out payments to preferred shareholders. That was up 34 percent from the same period a year ago, when it made $4.6 billion. On a per-share basis, that amounted to $1.59. That blew away the estimates of analysts polled by FactSet, who had been expecting $1.39. Revenue and profit fell in its retail banking business, but increased in investment banking. JPMorgan funded $53 billion in mortgages, a jump of 37 percent from a year ago. But profits in the mortgage unit fell 31 percent, and the bank said profit margins were lower. Revenue was $25.8 billion, after stripping out the effect of an accounting charge. That beat analysts’ estimates of $25.7 billion, though it was down 3 percent from the same period a year ago. In many respects, it’s been a difficult year for the New York-based bank. ...
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Forecast: Local Social to push $3b by 2017
Look for the local part of the social marketing space to at least triple over the next four years. That according to a new forecast out from BIA/Kelsey Group. Researchers believe that local social ad revenues will increase from $1.1 billion (2012) to just over $3 billion in 2017.
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Ex-Goldman trader Taylor pleads guilty to wire fraud
NEW YORK - Ex-Goldman Sachs Group Inc trader Matthew M. Taylor pleaded guilty on Wednesday to defrauding the Wall Street bank with an unauthorized $8.3 billion futures trade in 2007, saying he exceeded internal risk limits and lied to supervisors to cover up his activities.
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Found 1 month ago on channel
Reuters
RBS Faces $6 Billion Lawsuit
Royal Bank of Scotland Group and four of its former executives have been sued by 12,000 individuals and around 100 institutions alleging that they misled investors about the bank's financial health during a 2008 share sale.
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