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USA Stock Report

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Northern, WI 04/01/2013 (usastockreport) – A large percentage of Facebook Inc (NASDAQ:FB) (Current: $25.50, down by 0.37%) users are accessing the service via their mobile phones and this necessitates that the company step up its efforts to be more accessible on smartphones. The worlds most popular social networking service is joining hands with HTC Corp (TPE:2498)...

Northern, WI 04/01/2013 (usastockreport) – Fiat SpA (BIT:F) ( Current: $4.15, Down by 1.00%) has set the stage to buy-out the 41.5 percent stake in Chrysler Group LLC that it does not yet own. The car manufacturer is looking for funding from banks and will need a credit line of $2.5 billion to help it have cash for Chrysler as well as provide it with some liquidity....

Morgan Stanley (NASDAQ:MS), the sixth-largest U.S. bank by assets, has plans to eliminate 1,600 jobs from its institutional securities group and support staff starting this week. These cuts will focus primarily on the more highly paid senior staff in the institutional securities unit, which includes investment banking and trading operations. Approximately half of these...

HSBC announced this morning that it had reached agreement with U.S. authorities to settle allegations that it had violated anti-money laundering and sanctions laws. It will pay a record $1.9 billion in fines. This comes one day after Standard Chartered agreed to pay $327 million for illegally moving money through the U.S. financial system in violation of international...

Morgan Stanley (NYSE:MS) has announced a shakeup in its top management ranks as one of its Co-Presidents of investment banking, capital markets and trading operations was given sole responsibility for these areas effective January 2013. The other Co-President has announced that he will retire at the end of the year. Colm Kelleher, the soon-to-be sole President –...

In reporting its third quarter financial results, HSBC Holdings plc (NYSE:HBC) (ADR) announced that it was reserving an additional $800 million in relation to ongoing U.S. anti‐money laundering, Bank Secrecy Act and Office of Foreign Assets Control investigations. The Office of Foreign Assets Control (OFAC) investigation relates to transactions involving Iranian and...

The Board of Directors of Citigroup Inc. (NYSE:C) announced today that Vikram Pandit has resigned as its CEO and director, effective immediately. Michael Corbat, who previously served as Citigroup’s CEO of Europe, Middle East and Africa has been named as the new CEO and as a director. John P. Havens, President and Chief Operating Officer, has also resigned. According...

Wells Fargo Insurance, part of Wells Fargo & Company (NYSE:WFC), has reported that the head of its Centralized Insurance Business, Neal Aton, has been named as president and chairman of the American Bankers Insurance Association (ABIA) for the 2013 term. Mr. Aton was officially introduced officially as chairman at the association’s annual conference last week. Mr....

General Electric Company (NYSE:GE) has announced that it secured a contract from Saudi Electricity Company (SEC) to supply eight F-Class gas turbine generators to its Riyadh power plant 12. When this project begins commercial operations in 2015, SEC will add 2,000 megawatts of power to its network. Riyadh power plant 12 is part of a plan to add 33 gigawatts of power generation...

Yahoo! Inc. (NASDAQ: YHOO) announced that Ken Goldman is going to join the company as chief financial officer on October 22nd. He “will be responsible for Yahoo!’s global finance functions including financial planning and analysis, controllership, tax, treasury, and investor relations. Goldman will report directly to Yahoo! CEO Marissa Mayer.” In the company’s...