GLG News by Fidelity National Information Services Experts

Consumers spent more than $2.5 trillion in 2007 on credit card purchases and cash advances, however, consumers are falling behind on credit card payments at an alarming rate, sending delinquencies and defaults skyrocketing. The value of credit card accounts at least 30 days late rose 26% to $17.3 billion...

The announcement this week that AMEX will be taking a significant charge due to rising bad debt may have a backlash affect on the other major card associations.  MasterCard's stock has been performing well, even with a shaky economy, but this announcement has taken a bit of the wind from their...

While many eyes are on the transaction as a proposed bailout for Countrywide, Bank of America will be solving a good many problems for themselves, while purchasing the fuel for tremendous growth.  The advantages for Bank of America are many but the largest are the resolution of their...

Mums the word from Bank of America and Countrywide on whether BofA plans to swoop in and bailout Countrywide from a sudden fate of bankruptcy. Countrywide reported that foreclosures and late payments rose to the most in five years in December 2007. Countrywide's shares has fallen 28% this week and its...

Metavante's purchase of Nomad Payments for $58 million shores up its plans for a big international push through its Prepaid Solutions Division, with an international push in Europe, Asia-Pacific, the U.K. and other countries to go after its share of the prepaid cards transaction volumes growth. Metavante...

James Cayne stepped down as CEO to pass the baton to Alan Schwartz, who believes Bear Stearns faces some risks and sits in a comfortable position, however, the new CEO may be downplaying the possibility of further write downs. In November 2007, Bear Stearns said it would write down approximately $1.2...

Grant Kvalheim, BarCap's Co-President becomes the latest victim resulting from write downs related to subprime mortgage investments in the U.S. and leveraged loans. Kvalheim was responsible for helping to expand BarCap's business in the U.S., however, investments in CDOs, SIVs and SIV-lites which were...

Countrywide is denying rumors that it may be filing bankruptcy in face of a sharp decline in share price of as much as 79% in 2007, a credit crunch, record level defaults and a doubling in foreclosures and current economic conditions in the U.S. Investors are jittery about Countrywide and mortgage related...

Some of China's largest banks and its largest oil company Sinopec, has placed orders for 6,000 of Diebold's Opteva ATMs for installation at local banks and fuel stations in Beijing, in an effort to provide greater access to cash and financial services at the ATM. The banks sought out Sinopec because...

The UK's Government has asked Goldman Sachs to find new financial backers who are prepared to back a private sector solution and put together a financing package to rescue Northern Rock. The two rival bidders, Virgin Money and Olivant's funding problems may jeopardize their proposals because lending...