Industry News

Indian Bank Ltd jumped 10% on Tuesday after the state-run bank reported a 42.77% increase in its June quarter net profit, beating analysts' estimates. The bank attributed the net profit of Rs.307.36 crore, up from Rs.215.28 crore a year ago, to higher net interest income, other income and lower employee cost. A Bloomberg poll of seven analysts had estimated a net profit of Rs.148.70 crore."/>
Indian Bank Q1 profit rises 42.77% to Rs307.36 crore; shares surge 19.97% [Mint, New Delhi]
Elbit Imaging Ltd. announced today that an Indian subsidiary of Elbit Plaza India Real Estate Holdings Limited, has signed a Joint Development Agreement relating to its 74.7 acre plot in Chennai, India.. Under the terms of the JDA, the SPV will confer the property development rights to a reputable local developer who will carry full responsibility for all of the project costs and liabilities, as well as for the marketing of the scheme."/>
Elbit Imaging Announces Signing of Joint Development Agreement in Respect of Plot in Chennai, India
Weyerhaeuser Co., CNH Industrial N.V., Terex Corp., and AGCO Corp.."/>
Research Report on These Industrial Goods Equities -- Weyerhaeuser, CNH Industrial, Terex, and AGCO
Navient Board of Directors, has been named to Savoy Magazine’ s 2016 Power 300: 2016 Most Influential Black Corporate Directors. Williams was selected for his contributions to the financial services world and for embracing diversity on Navient’ s board. A photo accompanying this announcement is available at"/>
Savoy Magazine names Navient board member Barry Williams as one of the 2016 Most Influential Black Corporate Directors
CME Group Ag Economy Barometer. The July Producer Sentiment Index jumped to 112, an eight-point increase over June's 104 reading. The index is based on a monthly survey of 400 U.S. agricultural producers."/>
Producer sentiment jumps despite decline in crop prices
Argo Group International Holdings, Ltd., an international underwriter of specialty insurance and reinsurance products, announced today its board of directors has declared a quarterly cash dividend of $0.22 per share on the company's common stock. The dividend will be paid on August 29, 2016, to shareholders of record on August 15, 2016.. ABOUT ARGO GROUP INTERNATIONAL HOLDINGS, LTD.."/>
Argo Group Declares Quarterly Cash Dividend of $0.22 Per Share
Medley Management Inc., a credit-focused asset management firm, today announced that Medley LLC, its operating company, commenced a registered public offering of notes that are expected to mature on August 15, 2026. Interest will be payable quarterly. Medley LLC intends to use the net proceeds from the offering to repay a portion of the outstanding indebtedness under Medley LLC’ s syndicated term loan."/>
Medley Management Announces Public Offering of Medley LLC Notes Due 2026
PHI Group;, a U.S. public company currently engaged in conventional energy, renewables, natural resources and special situations, announced today that the shareholders of the previously announced undisclosed South African target company that represent 68% of the total issued share capital have approved PHI Group’ s tender offer to acquire the TARGET for cash. The TARGET has been in business over several decades and is a leading company in the natural..."/>
PHI Group Reports Significant Progress on Planned Acquisition of South African Company
Virtus Investment Partners today announced the following changes to the membership of their respective boards of directors:. Virtus Global Multi-Sector Income Fund, Virtus Total Return Fund and Duff& Phelps Select Energy MLP Fund Inc. appointed James B. Rogers, Jr. and R. Keith Walton as directors. Each board also accepted the resignation of Thomas F. Mann and thanked him for his contributions to the..."/>
Five Closed-End Funds Announce Changes to Board Membership
Synchrony Financial, a premier consumer financial services company with 80 years of retail heritage, today announced a multi-year extension with Rheem to continue providing a financing program for the purchase of heating, cooling and water heating products and services. Qualifying cardholders 1 can purchase their new Rheem or Ruud heating and cooling products and..."/>
Synchrony Financial and Rheem Manufacturing Extend Consumer Financing Program Agreement
Aon plc, will reveal the results of the 2016 mid-year iteration of the Semi-Annual Insurance Industry Labor Outlook Study in a complimentary webinar presentation on August 10, 2016, at 1:00 p.m. CDT. The study, which ran from July 13 through July 29, 2016, attracted participation from organizations industry-wide. The results highlight industry staffing expectations and current labor trends..."/>
Insurance Labor Outlook Study Results to be Revealed During Webinar
Great-West Lifeco Inc. today announced that its Irish subsidiary, Irish Life Group, has completed its previously announced transactions to acquire Aviva Health Insurance Ireland Limited and assume control of GloHealth Financial Services Limited. Financing for the acquisitions was provided internally and terms of the transactions were not disclosed."/>
Great-West Lifeco's Irish subsidiary, Irish Life Group, completes acquisition of Aviva Health Insurance Ireland Limited and GloHealth Financial Services Limited
Black Knight Financial Services, Inc. announced today that U.S. Bank, the fifth largest commercial bank in the United States, has signed an agreement to implement LoanSphere Exchange, an open technology platform that provides integration, data management, decisioning support and workflow management through a 24/ 7 data exchange. Delivered by RealEC Technologies, a division of Black Knight, Exchange is an innovative, online platform that..."/>
U.S. Bank Signs Contract to Implement Black Knight Financial Services' LoanSphere Exchange Technology to Support Its Title and Closing Operations
Altus Group Limited a leading provider of independent advisory services, software, and data solutions to the global commercial real estate industry, announced today that it has acquired R2G Limited, a specialist chartered surveyors firm focused on business rates services. The acquisition of RatesRecovery strategically enhances the Company's business rates offerings in the UK immediately ahead of the 2017 Business Rates Revaluation."/>
Altus Group Strengthens UK Commercial Real Estate Property Tax Services Through Acquisition of RatesRecovery
Currency Exchange International, Corp., is pleased to announce it has signed a Master Services Agreement and a corresponding Statement of Work with a national financial institution in North America. The foreign currency services are expected to commence at select locations in August 2016 and are expected to be in place at all transacting locations by the end of 2016.. The financial institution will utilize CXI’ s inventory on consignment model at..."/>
CXI Announces New Agreement with a Financial Institution Representing More Than 800 Branches
Cincinnati Financial Corporation announced that R. Philip Sandercox, Erin A. Skala and Wendy A. Hayes joined The Cincinnati Insurance Company, adding expertise to Cincinnati Re?, its reinsurance assumed operation. Sandercox, managing director, head of specialty casualty reinsurance, will oversee the strategic direction, underwriting and marketing of the company's specialty casualty reinsurance assumed portfolio. A 28- year veteran of the..."/>
The Cincinnati Insurance Company Adds Expertise to the Cincinnati Re Team
Old Second Bancorp, Inc. banking subsidiary, Old Second National Bank, has agreed to acquire the Chicago branch of Talmer Bank and Trust, the banking subsidiary of Talmer Bancorp, Inc., the company said. The acquisition of the Talmer branch includes approximately USD82 million of deposits and approximately USD238 million of loans. Upon completion of the transaction, Gary Collins, vice chairman of Talmer, is expected to join Old Second as vice chairman and as a director of Old Second..."/>
Old Second to acquire Chicago Branch of Talmer Bank & Trust
Emergent Capital, Inc. has initiated a formal process to explore strategic alternatives in response to receiving a number of unsolicited inquiries from several interested parties, the company said. The company's board of directors has formed a special committee with a mandate to review and consider strategic alternatives and to make recommendations to the full board of directors. FBR Capital Markets& Co. has been engaged as financial advisor to the company."/>
Emergent Capital to explore strategic alternatives

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