Industry News

Codorus Valley Bancorp Inc's board of directors authorised a regular quarterly cash dividend of USD0.13 per share on the company's common stock, it reported on Wednesday. This dividend that is unchanged from the previous quarter, will be paid on 9 August 2016 to shareholders of record at the close of business on 26 July 2016.. Codorus Valley Bancorp is an independent financial services holding company and operates through its subsidiary, PeoplesBank, which offers a full range..."/>
Codorus Valley Bancorp announces dividend of USD0.13 per share for quarter
Assurant, Inc., a global provider of risk management solutions, today announced it has finalized its $1.4 billion 2016 Property Catastrophe Reinsurance Program, reducing its financial exposure and safeguarding its ability to protect more than 2.4 million homeowners and renters policyholders against severe weather events and other perils. Base reinsurance premiums for the global catastrophe program are..."/>
Assurant Announces $1.4 Billion 2016 Property Catastrophe Reinsurance Program to Protect 2.4 Million Policyholders Worldwide
Assurant, Inc., one of the nation's leading providers of renters insurance, has been selected as the preferred insurance provider for Invitation Homes, the nation's leader in single-family home rentals. Assurant will be the only provider of residents' personal liability insurance that will be directly offered through Invitation Homes, for its network of nearly 50,000 high-quality houses in 14..."/>
Assurant Partners with Invitation Homes to Protect Residents
Northern Trust was appointed by a regulated insurance solutions provider in the UK, Rothesay Life, to provide middle office services for a portfolio of over GBP20bn in assets under management, it disclosed on Thursday. Rothesay Life is being supported on the company's technology platform, which provides an operating model able to support all asset classes and investment strategies, as well as deliver data management and reporting flexibility. Also, the company said that..."/>
Northern Trust declares its selection by Rothesay Life to service over GBP20bn portfolio
KeyCorp approved common and preferred stock cash dividends for the third quarter of 2016, the company revealed on Wednesday. A dividend of USD0.085 per share on the company's outstanding common shares will be paid on 15 September 2016 to shareholders of record as of the close of business on 29 July 2016.. Also, the company will pay a dividend of USD1.9375 per share on its outstanding 7.750% non-cumulative perpetual convertible preferred stock, series A,..."/>
KeyCorp announces common and preferred stock dividends for Q3 2016
Eaton Vance Corp's board of directors authorised a quarterly dividend of USD0.265 per share on the company's common stock, it declared on Wednesday. The dividend to shareholders of record on 29 July 2016 will be paid on 15 August 2016.. Eaton Vance through its subsidiaries, engages in the creation, marketing, and management of investment funds in the US."/>
Eaton Vance announces USD0.265 per share quarterly dividend
Bank of America call center that employs 700 people, an employee from another bank in Rhode Island on Wednesday shared what she has learned with a graduating class of her peers, Governor Raimondo and other state leaders. Ida Jobe, 46, completed a class called "fundamentals of commercial lending," which will prepare her for new work at Santander Bank in Providence, where she has worked for three years. Jobe has opened and managed bank branches for years..."/>
Training program aims to help workers climb the ladder at RI banks [The Providence Journal, R.I.]
Arab Bank was the..."/>
$283m raised for airport expansion [Gulf Daily News, Manama, Bahrain]
Fairfax India Holdings Corp. on Wednesday said it had agreed to acquire a 51% stake in Privi Organics Ltd for about Rs.370 crore. Privi Organics is a supplier of aroma chemicals to many large fragrance and consumer goods companies globally. The transaction is expected to close in the third quarter of 2016, Fairfax said in a statement on Wednesday."/>
Fairfax India buys 51% stake in Privi Organics [Mint, New Delhi]
Reliance Industries Ltd is likely to report an increase in its quarterly profit, led by stronger petrochemical margins which will help offset weaker earnings from its refining business. A Bloomberg poll of 10 analysts estimates the company will post a standalone net profit of Rs.6, 444.7 crore and revenue of Rs.58, 141.2 crore for quarter ended 30 June. The company posted a standalone net profit of Rs.6, 318 crore and revenue of Rs.71, 412 crore in the year earlier quarter."/>
RIL seen posting increased Q1 profit led by better petrochem margins [Mint, New Delhi]
Rural India bears the brunt of inflation [Mint, New Delhi]
Bharat Financial Inclusion Ltd, earlier known as SKS Microfinance Ltd, is in talks with investment banks to help it raise up to Rs.600 crore through a qualified institutional placement, three persons aware of the development said. A QIP is a sale of securities to institutional investors by listed companies. "The company has been in talks with several merchant bankers over the last few weeks."/>
Bharat Financial Inclusion to raise Rs600 crore via QIP [Mint, New Delhi]
KeyCorp's deal for First Niagara Financial Group would not have a "significantly adverse effect" on competition in markets where Key and First Niagara go head-to-head, including the Buffalo area. Its 37- page order approving the deal offers insight into a process that unfolds out of public view, and lays out the rationale for its decision. With the Federal Reserve's green light, Key hopes to complete the acquisition, now valued at about $3.6..."/>
Federal Reserve found Key deal wouldn't have "adverse effect" on competition [The Buffalo News, N.Y.]
Moody's Investors Service says that the United Kingdom's vote to leave the European Union will not have a significant credit impact on GCC sovereigns because their trade exposure to the UK is limited and the size of their sovereign wealth funds offers resilience against potential fluctuations in the value of some assets. Moody's report, entitled "Sovereigns-- Brexit and the Gulf Cooperation Council: Negligible credit impact given large investment buffers..."/>
Brexit 'to have negligible credit impact on GCC sovereigns' [Arab News, Jeddah, Saudi Arabia]
Tesla Motors has cut the base price of its Model X crossover vehicle by $9,000, the second time the electric vehicle manufacturer has reduced prices this year after falling short of sales targets. The price cut, first reported by Reuters, will bring the starting price of the Model X 60 D to $74,000, or $9,000 below the Model X 75 D. The 60 D will have a 60 kilowatt-hour battery, which will give it less torque and a shorter range than the Model X 75 D. Last month, Tesla reduced the base..."/>
Tesla cuts price on Model X [Detroit Free Press]
Metlife, the largest life insurance company in Florida, as well as one of the state's largest..."/>
Rates could rise for long-term care insurance [Sun Sentinel]

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