Industry News

Key takeaways from June quarter GDP numbers [Mint, New Delhi]
Bank of India governor Raghuram Rajan accepted a recommendation by the technical advisory committee to keep the policy rate unchanged at the 9 August monetary policy review, the last of his tenure, according to the minutes of TAC's pre-policy meeting released on Wednesday. TAC comprises five external members and is chaired by the RBI governor. The deputy governor in charge of monetary policy is an internal member of TAC, which was formed in July 2005 to..."/>
Raghuram Rajan accepts recommendation by panel to keep policy rate unchanged [Mint, New Delhi]
Bank of India, Indian Bank, Union Bank of India and DCB Bank Ltd.. RBL Bank shares closed 33.02% higher on BSE at Rs.299.30..."/>
RBL Bank makes stellar debut; market cap crosses Rs11,000 crore [Mint, New Delhi]
Moody's Investors Service, which estimated the state's backlog of unpaid bills could reach a new high of $14 billion by next summer. Illinois is spending more than it's taking in following the rollback of a 2011 temporary income tax increase that's resulted in revenues dropping by..."/>
Illinois' pile of unpaid bills could hit record of $14 billion next summer [Chicago Tribune]
EF Hutton America, a storied financial firm based in New York City, will move to downtown Springfield, bringing as many as 400 jobs over five years and investing about $22 million. The financial services firm, initially founded in 1904, will also buy two prominent downtown properties-- the former Credit Life Building and the State Theatre. Local leaders said the move could be a catalyst to spur further development and growth downtown, but stressed the deal is contingent on..."/>
Financial firm plans to move to downtown Springfield, add 400 jobs [Dayton Daily News, Ohio]
Sunwah International Limited, an Asian based financial services firm, reports that its major operating subsidiary, Sunwah Kingsway Capital Holdings Limited, has issued a profit warning dated 31 August 2016. The announcement is made pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance."/>
Sunwah International's Hong Kong Based Subsidiary Issues a Profit Warning
MetLife insurance agent. After an eight-week trial, the jury unanimously found that MetLife and two of its subsidiaries, New England Life Insurance Co. and New England Securities, and a former managing partner, Tony Russon, were liable on four civil counts including aiding and abetting violation of..."/>
Foley Bezek, Donahoo attorneys win $15.6 million for first of 98 clients in MetLife fraudulent securities case
McDonald's kicked its transformation into high gear Wednesday, announcing plans to replace the president of its U.S. business. Mike Andres, a key architect of the fast-food giant's attempt to reinvent itself through initiatives like all-day breakfast, is retiring at year-end. He will be replaced by Chris Kempczinski, a former Kraft executive who was brought on by McDonald's as an executive vice president last year."/>
McDonald's U.S. president, key architect of transformation, to leave at year-end [Chicago Tribune]
Itau CorpBanca Files Material Event Notice
Cash America International and Arlington-based First Cash Financial Services on Wednesday, clearing the way for the two pawnshop companies to combine. The all-stock transaction is expected to close Thursday, and the combined company, to be named FirstCash Inc., will begin trading on the New York Stock Exchange on Friday under the First Cash ticker symbol, FCFS. The "merger of equals" was announced in April."/>
Cash America-First Cash pawnshop merger set to close Thursday [Fort Worth Star-Telegram]
Medley Management Inc., announced today that it provided a senior secured first lien term loan to facilitate ZS Fund L.P.’ s acquisition of AmeriJet Holdings, Inc.. Lauderdale, Florida, is a leading provider of air cargo and logistics services to and from the U.S. and the Caribbean, Mexico and Latin America."/>
Sierra Income Corporation Supports ZS Fund L.P.’s Acquisition of AmeriJet
Tesla Motors, first told his cousin Lyndon Rive, CEO at SolarCity, in February that a merger between the electric vehicle maker and the rooftop solar energy installer deserved "serious consideration." But it took four months and several twists along the way before the two companies reached a preliminary agreement on the $2.4 billion combination. While the companies considered the merger, three other firms expressed interest in buying or making an..."/>
The Buffalo News, N.Y., David Robinson column [The Buffalo News, N.Y.]
Apple Hospitality REIT, Inc. and Apple REIT Ten, Inc. have approved the companies' definitive merger agreement in separate meetings, the companies said on Wednesday. The deal, which was announced in April, will create a USD 5.7 bn select service lodging REIT, the companies said. Subject to the satisfaction or waiver of the remaining conditions to closing, the merger is expected to close on or about 1..."/>
US Lodging REIT's Apple Hospitality, Apple REIT Ten Win Shareholder Nods for USD 1.3bn Merger
Fiera Capital Corporation, as manager of the Fiera Capital Balanced Fund and the Fiera Capital High Income Fund, announced today that the targeted fixed rate of monthly distributions of the Funds will be replaced by a variable distribution rate. The Funds' distributions will be made monthly consisting of income and, to the extent necessary, return of capital."/>
Fiera Capital announces the reassessment of the targeted level of distribution of the Fiera Capital Balanced Fund and the Fiera Capital High Income Fund
MetLife employees in Ballantyne are transitioning to a managed services provider called CSC. The 106 affected employees will support MetLife customers in roles similar to their current jobs with the insurer, according to a statement from CSC. The changeover to CSC will be completed by the end of this year."/>
BRIEF: More than 100 MetLife employees in Ballantyne will soon work for a firm called CSC [The Charlotte Observer]
EMC Corp. in the S&P 100, and Charter Communications Inc. will replace EMC in the S&P 500 after the close of trading on Wednesday, September 7. Privately held Dell Corp. is acquiring EMC in a deal expected to be completed on or about that date, pending final conditions. The Kraft Heinz Company, headquartered in Pittsburgh, PA, manufactures and markets food and beverage products."/>
Kraft Heinz Set to Join S&P 100; Charter Communications to Join S&P 500

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