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Financial Service News

Financial Services news continually updated from thousands of sources around the net.

2 hrs ago | Yahoo!

Guilty pleas to $7m insider trading

A former National Australia Bank employee and a public servant have pleaded guilty to a $7 million insider trading scheme. Former NAB worker Lukas James Kamay and Australian Bureau of Statistics employee Christopher Russell Hill used confidential market-sensitive information in trades that netted about $7 million in profits.


Related Topix: National Australia Bank

5 hrs ago | Farmington Daily Times

Column: Will The Swiss Vote to Get Their Gold Back?

On November 30th, voters in Switzerland will head to the polls to vote in a referendum on gold. On the ballot is a measure to prohibit the Swiss National Bank from further gold sales, to repatriate Swiss-owned gold to Switzerland, and to mandate that gold make up at least 20 percent of the bank's assets.


Related Topix: Swiss National Bank, Banking, Opinion

5 hrs ago | Brandon Sun

Most actively traded companies on the TSX

B2Gold Corp. . Miner. Down seven cents, or 2.99 per cent, to $2.27 on 7.4 million shares.


Related Topix: Microfinancial, Food, Leasing, Maple Leaf Foods, Smart and Final, Retail, Insurance, Manulife Financial, Canadian Natural Resources, Energy, Oil & Gas

9 hrs ago | Business Journal

M&T-Hudson City deal won't be deterred by CEO's death

The sudden death last week of Hudson City Bancorp Inc.'s top executive and the subsequent naming of new leader is not expected to affect the company's plans to be acquired by M&T Bank . In a statement issued Sept.


Related Topix: Banking, Hudson City Bancorp, MT Bank, Batavia, NY

11 hrs ago | Brandon Sun

New Cibc Ceo announces reorganization of bank's senior executives

Major changes are afoot in the executive ranks of the Canadian Imperial Bank of Commerce , as incoming chief executive Victor Dodig shuffles a number of leadership roles and announced the exit of one key executive. Dodig, who began his job as head of the bank on Monday, says chief operating officer Richard Nesbitt is leaving CIBC immediately, accelerating his initial plan to retire in October 2015.


Related Topix: Canadian Imperial Bank of Commerce, Retail, Banking, Coles Myer, Grocery

13 hrs ago | Reuters

Wells Fargo finds mortgage myths hamper home purchases

Getting a mortgage in the United States may be easier than many borrowers think, according to a survey released Monday by Wells Fargo & Co ( Nearly two-thirds of respondents thought that a very good credit score was necessary to buy a home, and more than 40 percent thought they needed a down payment equal to at least 20 percent of the purchase price to buy a home. Under government-backed programs, first-time home buyers with subprime credit scores can get a mortgage insured by the Federal Housing Administration, and they can put down as little as 3.5 percent of the purchase price.


Related Topix: Home, Mortgage, Personal Finance, Wells Fargo , Banking, Home Buying

14 hrs ago | Seattle Post-Intelligencer

Eurozone economic growth forecast cut

German Finance Minister Wolfgang Schauble speaks during a news conference in Milan, Italy, Saturday, Sept. 13, 2014.


Related Topix: Italy, Banking, European Central Bank

14 hrs ago | Reuters

Ackman's Pershing Square plans $2 billion Amsterdam fund listing

Pershing Square Holdings, a fund managed by activist investor Bill Ackman, hopes to raise $2 billion from a listing on the Euronext Amsterdam stock exchange, the company said in a statement on Monday. The company expects the fund to have a market capitalization of at least $5 billion after the share offering, which will be priced at $25 a share.


Related Topix: AckmanZiff Real Estate Group

14 hrs ago | West Australian

RadioShack CFO resigns; AlixPartners MD named interim CFO

Struggling electronics retailer RadioShack Corp, which is teetering on the brink of bankruptcy, said John Feray resigned as chief financial officer last week. The company said on Monday it named AlixPartners LLP managing director Holly Etlin as interim CFO.


Related Topix: RadioShack, Retail, AlixPartners, Economics News, Bankruptcy

18 hrs ago |

Hiring in state rises with national trend

Angie Dvorak is assistant vice president of public relations for 1st Source Corp. of South Bend. She said the financial services company has provided across-the-board instruction to many of its 1,200 employees.


Related Topix: 1st Source, Banking, Old National Bancorp

Sun Sep 14, 2014

Al Bawaba

Globalization vs halal: are Islamic finance's non-Muslim...

Islamic bond programmes from a trio of big conventional banks are set to expand the boundaries of Islamic finance, helping open the market to first-time issuers while testing the banks' ability to win over industry purists. Islamic bond programmes from a trio of big conventional banks are set to expand the boundaries of Islamic finance, helping open the market to first-time issuers while testing the banks' ability to win over industry purists.


Related Topix: Goldman Sachs, Investment Services

West Australian

UK-based Phones 4u seeks administrator after EE contract loss

UK mobile phone retailer Phones 4u said it is seeking the appointment of administrators from PricewaterhouseCoopers after its key partner EE notified the company that it would not be renewing its network agreement. The contract, which ends in September next year with the UK's biggest mobile operator EE - which comprises T-Mobile and Orange, was crucial to the business for Phones 4u after it lost a similar contract with Vodafone Group Plc earlier this month.


Related Topix: Cell Phones, Cellphones, Electronics, PricewaterhouseCoopers, Accounting, T-Mobile, Vodafone Group, Telecom, Vodafone

The Washington Post

Capital One, Navy Federal to partner with Apple for new mobile payment system

Beginning next month, customers will be able to pay for purchases directly from their iPhones and Apple Watches, thanks to a new mobile payment service announced by Apple last week. Two local institutions - McLean-based Capital One and Vienna-based Navy Federal Credit Union - are among the 11 banks, credit unions and credit card issuers partnering with Apple for the roll-out of Apple Pay.


Related Topix: Capital One Financial, Capital One, Square, Banking, Navy Federal Credit Union, Business News

Seeking Alpha

The 'Entire Fairness' Solution To Fannie Mae Shareholder Rights

With the Fairholme Funds Inc. v FHFA well into discovery, many Fannie Mae/Federal National Mortgage Association and Freddie Mac/Federal Home Loan Mortgage Corp. minority shareholders are starting to feel confident that evidence of self-dealing and the government conservator acting in bad faith will come out, but this raises the tough question of what remedy the courts might be willing to order.


Related Topix: Fannie Mae, Freddie Mac, Home, Mortgage, Personal Finance, UC Berkeley, University of Pennsylvania

World waits for white smoke from US Fed

The US Federal Reserve may give clearer hints on when it will hike the cost of borrowing in the United States in the coming week, as struggling Europe braces for a tight vote in Scotland on whether to leave the United Kingdom. As the US economy picks up pace, its central bank is inching closer to raising interest rates, a move that will send ripples across the globe.


Related Topix: Europe, World News, United Kingdom, Banking, European Central Bank

Comment: No honesty about financial implications

SEVEN years ago today Northern Rock was on the verge of collapse after its request for emergency funding sparked a run on the bank. Six years ago today Lehman Brothers was preparing to file for bankruptcy and kick-start a chain of events that ended in the deepest recession for generations.


Related Topix: Investment Banking, Lehman Brothers, Home, Mortgage, Personal Finance

Sat Sep 13, 2014

Nashua Telegraph

Local financial advisers achieve high scores

Robert Bonfiglio, a private wealth adviser, and Brent Kiley, a financial adviser with Bonfiglio Kiley and Associates, a private wealth advisory practice of Ameriprise Financial, received high marks from their clients in the recent Ameriprise Financial Client Relationship Study. Both ranked in the top 25 percent of all Ameriprise advisers, receiving a score of 96 percent or higher based on overall client satisfaction.


Related Topix: AMP Ltd, Investment Services, Insurance

The Hill

De Blasio under fire amid new threat from Islamic State fighters

New York City Mayor Bill de Blasio is coming under sharp criticism for making decisions that may have undermined the effectiveness of his police department's counter-terrorism operations. Thirteen years after the 9/11 attacks on Manhattan, prominent security experts say de Blasio has made fighting terrorism a lower priority in order to appease the communities that helped elect him.


Related Topix: Terrorism, Investment Banking, Lehman Brothers, US Politics, US News, Peter King, Republican, US House of Representatives, Michael Bloomberh

New Scientist

Linking cannabis and suicide doesn't prove causation

A study linking daily cannabis use to suicide got a lot of coverage earlier this week, but, Michael Slezak says, correlation does not mean causation The article, and others like it, were reporting on a study linking teenage cannabis use with school dropouts, addiction and suicide, published in the The Lancet Psychiatry . Echoing the research findings, the articles declared that if teenagers smoke cannabis daily, it makes them seven times more likely to commit suicide compared with non-users.


Related Topix: Family, Teenagers, Australia and New Zealand Banking Group, Drugs

West Australian

Bosses charged with rebuilding Portugal's BES bank quit after two months

The rebuilding of Portugal's Novo Banco - the successor to Banco Espirito Santo after a state rescue last month - was dealt a blow on Saturday with the resignation of the three men handpicked by the central bank in July to turn BES round. Chief executive Vitor Bento, finance director Joao Moreira Rato and deputy CEO Jose Honorio said they were leaving because their initial mandate to revive the bank with private money had changed too much since the government bailout.


Related Topix: Espirito Santo Financial Group SA, Brazil, World News


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