Tag: 1 billion
New Regs Spur Wells Fargo Monthly Fee For Debit Cards
Wells Fargo has started a pilot program in several parts of the country to understand how customers will respond to a monthly fee on their debit cards. [1] The bank, which holds the distinction of being the second-largest bank in the U.S. in terms of deposits held, will charge a $3 monthly charge to all customers who use their debit or ATM card for making purchases at merchant establishments. JPMorgan Chase, Regions Financial Corp. and SunTrust Banks Inc. have already started charging fees on their cards to varying degrees. Bank of America has also hinted at joining this list soon. We currently have a $32 price estimate for Wells Fargo, [...]
Exclusive: Bank of America kept AIG legal threat under wraps
According to news sources today (Reuters) the top lawyers for Bank of America were aware as early as January a lawsuit was being prepared by American International Group Inc. Further, according to news sources – this was more than 7 months prior to the eventual filing of the $10 billion lawsuit. Bank of America shares dropped over 20 percent the day the lawsuit was made public, August 8, 2011. Concerns have been strong regarding the future of the country’s largest bank for quite awhile – but have bated somewhat since Warren Buffett infused a $5 billion investment into the company. In recent quarterly corporate filings with the SEC, the lawsuit was [...]
Gartner Says the Market for Social CRM Is on Pace to Surpass $1 Billion in Revenue by Year-End 2012
Key Issues Around Social CRM to Be Discussed at Gartner Symposium/ITxpo 2011 STAMFORD, Conn. – The worldwide social customer relationship management (CRM) market is forecast to reach over billion in revenue by year-end 2012, up from approximately 5 million in 2010, according to Gartner, Inc. Worldwide social CRM is projected to total 0 million in 2011. However, analysts said spending by buyers on social software for marketing, customer service and sales increased by 40 percent in 2010, but social CRM remained less than 5 percent of the total CRM application market. More than 100 vendors have social CRM offerings. Most are not profitable and generate annual revenue of less than [...]
Bank Of America Sells Assets, Microsoft Bids For Motorola?
From ProPennyPick: Amidst discussions of selling off ‘non-core assets, by Bank of America (BAC) CEO Brian Moynihan there is now (according to PennyPro) rumors that BAC is set to sell real estate investments held by its Merrill Lynch unit to Blackstone Group LP (BX) for as much as $1 billion. BAC recently agreed to sell their Canadian card unit to Toronto-Dominion Bank, this following on the heels of the sale of their Spain-based card operations. Industry insiders say more sales are to come soon – The stock closed down on Tuesday at 7.40 with a volume of 275,997,227. Microsoft (MSFT): In a late development Tuesday, it’s been learned MSFT could make [...]
E-commerce jumps 17.5% in Q2
E-commerce jumps 17.5% in Q2 The U.S. Commerce Department says online shoppers spent $47.5 billion during the second quarter, with e-commerce accounting for 4.6% of all retail sales, the highest level on record. Excluding automobiles, fuel, grocery and food sales, e-commerce represented 8.4% of total retail sales in the second quarter, according to an Internet Retailer estimate. Allison Enright Senior Editor Topics: comScore, e-commerce spending, Q2, retail sales,spending trends, U.S. Commerce Department U.S. e-commerce sales totaled $47.51 billion during the second quarter, up 17.5% from $40.42 billion a year ago, according to seasonally adjusted estimates released today by the U.S. Commerce Department. E-commerce accounted for approximately 4.6% of total retail sales during the second quarter, [...]
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