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Ally Financial Inc. latest news:


  • 01/04/2018 08:00:39

    Toyota Financial Tests At-Home E-Contracting in Pilot

    Toyota Financial Services is running a pilot in which consumers can electronically sign all financial and ancillary product documentation before going into the dealership to pick up their vehicle, according to the technology provider RouteOne. The pilot is currently active at just one Toyota dealership, as well as across the company’s employee-leasing program, according to […]

  • 12/28/2017 08:00:20

    AI in Auto Finance Overtakes List of 2017’s Most-Read Mobility Stories

    It seems 2017 officially reached the mobility tipping point, where autonomous vehicles, car subscriptions, and mobility services have continually gained momentum. Artificial intelligence got its fair share of interest from the auto finance industry, as many lenders looked to machine learning to bolster credit decisioning, among other use-cases. Meanwhile, Daimler Financial Services and RCI Bank […]

  • 12/12/2017 15:11:43

    Sears to extend maturity date on term loan, plans on new credit facility

    Sears Holdings Corp. said late Tuesday it has agreed to extend the maturity of an existing term loan originally maturing June 2018 to January 2019, with an option to further extend the maturity to July of that year. Sears paid down the term loan by $325 million in the fourth quarter, reducing the outstanding balance to about $400 million and bringing the total term loan repayment in 2017 to about $570 million, the company said in a statement. Sears also said it plans to get a new security credit facility, intending to use the proceeds to fund the payment of about $407 million in the Sears pension plans and for general purposes. Sears has "taken further action to provide the company with additional financial flexibility as we enter 2018," Chief Financial Officer Rob Riecker said. Sears continues to "explore alternatives" around debt maturities to reduce cash interest payments and get more flexibility, he said. Shares of Sears rose 4.8% in the late session after ending the regular trading day down 5.9%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 12/12/2017 15:08:23

    Facebook to direct fewer ad sales through low-tax Ireland

    Facebook Inc. said Tuesday that it will record advertising revenue in countries where it sells ads instead of at its Dublin, Ireland, headquarters. The company said in a blog that it aims to complete the transition by the first half of 2019 and anticipates that it will require significant resources to implement around the world. "We believe that moving to a local selling structure will provide more transparency to governments and policy makers around the world who have called for greater visibility over the revenue associated with locally supported sales in their countries," Facebook Chief Financial Officer Dave Wehner said in the blog post. While it's unclear from the blog exactly how much revenue Facebook is talking about, the company records 47% of its revenue in the U.S., according to FactSet. The change would significantly boost Facebook revenue recorded in 27 countries including Germany, Japan and Argentina likely increasing the tax bill in those countries, according to The Wall Street. Facebook shares have gained 54% this year, with the S&P 500 index gaining 19%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 12/12/2017 09:46:22

    Ally Financial to Appoint New CFO Amid Chris Halmy’s Retirement

    Ally Financial Inc.’s long-time Chief Financial Officer Chris Halmy is retiring from his post in March as Jenn LaClair steps up to take his place, the company announced in a press release today.   LaClair, 46, will take on the role of chief financial officer designate, effective Dec. 18, until the transition is complete. At […]

  • 12/08/2017 09:05:27

    Wells Fargo near highs of the day, following Trump tweet about possible increased fines

    Wells Fargo & Co. was trading near highs of the day, up 0.7%, after a tweet from the president saying fines could be "substantially increased." President Trump was pushing back against a report from Reuters, citing three sources, which said that fines pursued by the Consumer Financial Protection Bureau are being reviewed by Interim Director Mick Mulvaney. Under the CFPB's prior director, the report said Wells Fargo had agreed to pay tens of millions of dollars in fines over alleged mortgage lending abuse. "Fines and penalties against Wells Fargo Bank for their bad acts against their customers and others will not be dropped, as has incorrectly been reported, but will be pursued and, if anything, substantially increased. I will cut Regs but make penalties severe when caught cheating," the president tweeted.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 12/01/2017 11:39:12

    Lawmakers seek to block new restrictions on 'payday' lenders

    A group of lawmakers in the House, including several prominent Democrats, introduced a bill to block a rule that would make it harder for Americans to obtain short-term loans from "payday lenders. These lenders make money available at high interest rates to millions of customers who typically are poor or have shaky credit. The Consumer Financial Protection Bureau adopted a controversial rule last month that could put many payday lenders out of business or sharply curtail their businesses. The CFPB contends payday loans take advantage of borrowers and put them into deeper debt. Yet critics, including some Democrats, say the new CFPB rules go too far. In many cases borrowers unable to procure loans or cash checks at traditional banks would have no where else to turn if they could not go to a payday lender, critics contend. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 11/16/2017 20:06:52

    Stitch Fix prices IPO at $15, below expectations

    Stitch Fix Inc. priced its initial public offering at $15 a share Thursday evening to pull in at least $120 million ahead of the online clothing seller's market debut Friday. The price was lower than the $18 to $20 range that the company originally expected, as The Wall Street Journal reported was likely earlier Thursday. At $15 a share, the company has a valuation of about $1.4 billion. Stitch Fix is selling 8 million shares in the offering, lower than the initial estimate of 10 million shares, while founder and Chief Executive Katrina Lake is selling 1 million shares; underwriters, led by Goldman Sachs and JP Morgan, have access to an additional 1.2 million shares. Financial information shared in the filing show very strong revenue gains, from net revenue of $73.2 million in its 2014 fiscal year to $342.8 million in 2015, $730.3 million in 2016 and $977.1 million in the 2017 fiscal year, which ended July 31. Stitch Fix turned a profit in its 2015 and 2016 fiscal years, $20.9 million and $33.2 million in net income respectively, but slipped back to a loss of less than $600,000 last year. The company's stock is expected to begin trading Friday on the Nasdaq exchange under the ticker symbol SFIX.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 11/16/2017 16:37:52

    Venezuela, state oil firm default on billions worth of bonds

    The Venezuelan government and its state-owned oil company PDVSA have officially fallen into default on billions of dollars' worth of bonds, the latest chapter of the country's deep financial collapse

  • 11/16/2017 16:37:18

    Venezuela, state oil firm default on billions worth of bonds

    The Venezuelan government and its state-owned oil company PDVSA have officially defaulted on billions of dollars' worth of bonds, the latest chapter of the country's deep financial collapse.

  • 11/08/2017 09:46:15

    Ally Boosts Carvana’s Financing to Spur Volume Growth

    Ally Financial Inc. has renewed and increased its financing deal with the online, delivery dealership Carvana on Tuesday, according to a press release. The lender agreed to fund $2 billion worth of retail contracts through the dealer’s network for the next year. In January, Ally had committed to fund $600 million worth of retail contracts […]

  • 10/26/2017 10:22:11

    Delinquencies Rise at Ally, More Hurricane Charge-Offs Expected

    Although Ally Financial Inc.’s delinquencies and charge-offs were up year over year in third-quarter earnings, the uptick was actually more muted than expected amid hurricane damages. Delinquencies were up 24 basis points to 3.05% of the company’s auto portfolio, the bank reported Wednesday. Likewise, net charge-offs grew to 1.45% ofRead More

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