GLG News by Hypercom Point of Sale Terminal Experts

Citibank announced that it will cut back on its branch expansion strategy and may sell some recently opened branches due to high costs and/or poor results.  Any future expansion initiatives are likely to be limited to larger markets. What are the implications for Citibank's future in retail banking?...

2008 isn't shaping up as a good year for the mortgage industry as delinquencies hit record highs, foreclosures reach record levels, builders are faced with too much inventory and in December 2007, applications for building permits fell by 8.1%, which marked the seventh consecutive monthly decline and...

NYSE snags rival Amex for $260 million in stock to expand its "options" business, which offers higher margins than stock markets. The deal will provide NYSE with additional listings, as well as increase its scale in U.S. options, ETFs, close-end funds, structured products and cash equities. NYSE also...

TD Bank (Toronto Dominion) agreed to purchase Commerce Bancorp for $8.5 billion in 2007, however, shareholder lawsuits and a suit from its former CEO and a suit filed against his wife and her design firm may be putting the deal in jeopardy. TD Bank agreed to pay a 7% premium over Commerce's closing...

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...

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...