MasterCard Inc. (MA), the world’s second- largest payments network, named Ann Cairns president of international markets and Walt Macnee vice chairman. Cairns will start on August 22 from Alvarez & Marsal Inc., a consulting company, and report to Chief Executive Officer Ajay Banga, Purchase, New York-based MasterCard said today in a statement. She will manage [...]
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Citigroup Inc posted a $1.3 billion quarterly profit on Tuesday, as losses on bad loans fell, but the bank missed estimates on its earnings as it struggled with a slump in revenue. Shares of Citigroup fell about 3.5% to $4.95 in premarket trading. The third-largest U.S. bank, which took $45 billion in U.S. bailout funds [...]
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The bank’s mortgage and credit losses have eased this year as the economy has improved. But its loan book is not growing, raising questions about where future profit growth will come from. JP Morgan shares climbed slightly in premarket trading after the second-largest U.S. bank by assets reported third-quarter net income of $4.4 billion, or [...]
Online banking at U.S. Bank is up and running again after being interrupted by Tuesday’s power outage near the state Capitol in St. Paul, a company spokesman said today.Customers who tried to pay bills or check their account balances online or via the automated phone system Tuesday or this morning discovered that the systems were [...]
Bank of America Corp., the largest U.S. bank by assets, said it wrongly classified as much as $10.7 billion of short-term repurchase and lending transactions as sales from 2007 to 2009 to reduce its end-of-quarter assets. Bank of America said the inaccuracies aren’t material and “don’t stem from any intentional misstatement of the Corporation’s financial [...]
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