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NEWS ABOUT: Capital One

Online Ad Companies Know Everything About You

Tracking cookies are watching

(Newser) - The second you land on Capital One’s homepage, they know, or at least, could know, where you live, what you do, how much you make, and loads of other information about you. That’s because Capital One employs a company called [x+1] Inc, a firm that uses the tracking... More »

Treasury to Let 10 Banks Repay $68B in TARP Loans

(Newser) - The Treasury Department has given 10 banks—including Goldman Sachs, JP Morgan, American Express, and Capital One—permission to repay their TARP loans, the Wall Street Journal reports. The government will recoup $68 billion faster than anticipated, but the money won’t go back into the public coffers; Tim Geithner... More »

Banks to Sell Stock to Repay TARP

(Newser) - Hoping to take advantage of the up market, Capital One, US Bancorp, and a handful of other financial institutions are planning to sell a combined $7 billion worth of stock, the Wall Street Journal reports. Some of the resulting funds would be used to repay TARP money, getting the banks... More »

Stocks Slide on Grim Earnings

(Newser) - Stocks headed lower at the open today, thanks to another round of dour corporate earnings. The Dow fell 44 points, while the S&P and Nasdaq dropped 0.9% and 0.8% respectively. Morgan Stanley tumbled more than 8%, after reporting a quarterly loss, and slashing its dividend. Wells Fargo,... More »

Dow Dives Below 8,000

Dow sees big-time dip

(Newser) - Stocks took a dive at the open, following big losses in Europe and more lousy earnings reports, the Wall Street Journal reports. The Dow tumbled 210 points to below 8,000, while the Nasdaq and S&P dove 2.1% and 2.6% respectively. Financials came under renewed pressure, with... More »

Struggling AmEx Asks Feds for $3.5B Infusion

Credit card company is reeling as consumers cut back spending

(Newser) - Falling consumer spending and rising defaults have prompted American Express—which has seen its stock plunge 57% this year—to ask for $3.5 billion from the government’s $700 billion bailout fund, reports the Wall Street Journal. The company Monday received Federal Reserve approval to become a bank holding... More »

Dow Tanks on Consumer Woes

Index nosedives after more bad news about spending

(Newser) - The Dow plunged 246.79 points to 12,606.30 today as investors, worried about consumer spending, fled retailers and credit-card issuers. Analysts are concerned the mortgage crisis has finally hit pocketbooks, hurting credit, jobs, and public confidence, the Wall Street Journal reports.The Nasdaq slid 48.58 to close... More »

Stocks Soar After Bumpy Ride

Streeters pleased with Bernanke speech, BofA news

(Newser) - The Dow finished up 117.78 points today, closing at 12,853.09 on signals from Fed chairman Ben Bernanke of interest-rate cuts to come and reports that Bank of America is in talks to buy home-loan giant Countrywide. It was a bumpy ride, though, as the key index was... More »

Cap One Cuts Earnings Forecast

Mortgage woes spread to credit card, car loan giant

(Newser) - The nation’s largest independent credit card issuer, facing worsening loan troubles and a struggling US economy, says it will cut its 2007 profit forecast 20%. Capital One Financial 's news is another indicator that the mortgage crisis is infecting other loans, the Wall Street Journal notes; the company is... More »

Americans Falling Behind on Credit Cards

Amount overdue on US accounts surged 26% in October

(Newser) - It’s already looking like an iffy New Year for many credit-card holders: the number of Americans falling behind on their payments spiked sharply this year and analysts don’t expect 2008 to be much brighter. The value of credit card accounts at least 30 days late surged 26% in... More »

Countrywide Cuts 500 Jobs

Fallout from subprime crisis continues

(Newser) - The nation's top home lender is cutting 500 jobs in its subprime mortgage units in response to the high-risk-lending mess. Before the cuts announced yesterday, Countrywide was actively hiring workers who had been fired from other companies, the LA Times reports. Meanwhile, Capital One said it will close the unit... More »

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