Lots more bad news today, after Friday's rotten Q4 banking results in the USA. Royal Bank of Scotland, as expected, is saying it made a £28 billion ($42 billion) loss for 2008. The loss comprises a trading loss of £7-£8 billion ($10-$12 billion) plus a write-off on ABN AMRO of £20 billion ($30 billion). That…
Lots more bad news today, after Friday's rotten Q4 banking results in the USA. Royal Bank of Scotland, as expected, is saying it made a £28 billion ($42 billion) loss for 2008. The loss comprises a trading loss of £7-£8 billion ($10-$12 billion) plus a write-off on ABN AMRO of £20 billion ($30 billion). That…
Results season this week for Q4 earnings: JPMorgan – a $702 million Q4 net income compared to $3 billion a year ago;Citigroup – $8.29 billion losses and breaking into two banks;Bank of America – $1.79 billion loss, and $138 billion bailout thanks to Merrill making a $15.3 billion loss;Deutsche Bank – $6.4 billion loss;Anglo Irish…
Results season this week for Q4 earnings: JPMorgan – a $702 million Q4 net income compared to $3 billion a year ago;Citigroup – $8.29 billion losses and breaking into two banks;Bank of America – $1.79 billion loss, and $138 billion bailout thanks to Merrill making a $15.3 billion loss;Deutsche Bank – $6.4 billion loss;Anglo Irish…
Results season this week for Q4 earnings: JPMorgan – a $702 million Q4 net income compared to $3 billion a year ago;Citigroup – $8.29 billion losses and breaking into two banks;Bank of America – $1.79 billion loss, and $138 billion bailout thanks to Merrill making a $15.3 billion loss;Deutsche Bank – $6.4 billion loss;Anglo Irish…
I've blogged extensively about social finance and social lending. One of the most successful examples that demonstrate this idea is Kiva, as they are backed by the likes of Bill Clinton! Kiva is different to most social lending though as it's not about Joe and Jane saving for a wedding, but more about Saabir and…
I've blogged extensively about social finance and social lending. One of the most successful examples that demonstrate this idea is Kiva, as they are backed by the likes of Bill Clinton! Kiva is different to most social lending though as it's not about Joe and Jane saving for a wedding, but more about Saabir and…
I've blogged extensively about social finance and social lending. One of the most successful examples that demonstrate this idea is Kiva, as they are backed by the likes of Bill Clinton! Kiva is different to most social lending though as it's not about Joe and Jane saving for a wedding, but more about Saabir and…
There are lots of stories in banking I could talk about this morning. There's the Citigroup story of selling their brokerage division to Morgan Stanley. This is the brokerage Smith Barney that is today's remnants of the firm Salomon Brothers, famed for Liar's Poker stories. It also represents more of the break-up of Citi as…
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