Financial Service News
Financial Services news continually updated from thousands of sources around the net.
2 hrs ago | Yahoo!
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.
5 hrs ago | Farmington Daily Times
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.
5 hrs ago | Brandon Sun
B2Gold Corp. . Miner. Down seven cents, or 2.99 per cent, to $2.27 on 7.4 million shares.
9 hrs ago | Business Journal
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.
11 hrs ago | Brandon Sun
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.
13 hrs ago | Reuters
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.
14 hrs ago | Seattle Post-Intelligencer
German Finance Minister Wolfgang Schauble speaks during a news conference in Milan, Italy, Saturday, Sept. 13, 2014.
14 hrs ago | Reuters
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.
14 hrs ago | West Australian
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.
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.
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.
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.
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.
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.
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.
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.
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.
Updated: Mon Sep 15, 2014 07:30 pm
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