Bank of America Corp (NYSE:BAC): New regulations on derivatives, including a requirement for banks to become registered swap dealers, will not begin until January at the earliest, The New York times stated yesterday, citing a statement by a spokesman for Commodity Futures Trading Commission Chairman Gary Gensler.
Nokia Corporation (NYSE:NOK): Prior to Apple’s (NASDAQ:AAPL) release of its iPhone 5 next week, its rivals have been rushing to promote their newest smartphones, but as they do, they are leaving out some important details, according to the Wall Street Journal. Nokia did not reveal when the phones would become available, where to buy them, or what they will cost. Motorola Mobility (NASDAQ:GOOG) revealed three phones but only had availability dates and prices set for one of them. Samsung Electronics (SSNLF) also showed its own phone, built on Microsoft’s (NASDAQ:MSFT) operating system, but did not provide a price or release time.
Sprint Nextel Corporation (NYSE:S), which ranks behind Verizon Wireless and AT&T Inc. (NYSE:T) in U.S. wireless customers, sees benefits from higher average phone bills, partially due to more customers using smartphones such as the iPhones to download data. The company is attempting to phase out its outdated Nextel network and expand the reach of LTE service, which is a technology that offers speedier downloads. Cooperman believes that a consolidation would give Sprint shares another leg-up.
Citigroup Inc. (NYSE:C) launched a commodity trade finance unit, and expanded into a sector that was once dominated by European lenders who have been shrinking their activities as a means to cope with the euro zone debt crisis.
Ford Motor Company (NYSE:F) issued its third recall of the new 2013 Ford Escape, which went on sale during June, although industry analysts state that the latest recall will probably not significantly affect sales, reports The Detroit News. Ford stated that the SUV may have an improperly installed plug in the engine that could leak coolant and cause a fire.
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