Industry News

Mindtree Ltd on Tuesday hit a 15- month low, as most of the brokerages cut the target price of the stock after the company reported weaker-than-expected earnings. The stock fell in seven out of nine trading sessions. Ambit Capital, PhillipCapital, Kotak Institutional Equities and Deutsche Bank have reduced its target price on the stock."/>
Mindtree shares hit 15-month low [Mint, New Delhi]
LIC Housing Finance Ltd's bias towards high-yielding advances can be seen in the changing tone of its loan book. The share of loans against property, non-core and developer loans in its outstanding credit portfolio increased to 12.2% at the end of the June quarter from 11.5% a year ago. This has helped to steadily increase its margins."/>
LIC Housing Finance continues focus on high margin loans [Mint, New Delhi]
BGC Partners, Inc. a leading global brokerage company servicing the financial and real estate markets, today announced that it has entered into an agreement 1 to acquire the businesses of Sunrise Brokers Group, an independent financial brokerage with a leading reputation in worldwide equity derivatives. "This transaction enables us to further expand our equity derivatives offering and complements our existing financial services business,"..."/>
BGC Partners Announces Agreement to Acquire Sunrise Brokers, a Leading Financial Brokerage for Equity Derivatives
Alexandria Real Estate Equities Inc. plans to beef up its already robust Cambridge life sciences and technology office/lab space portfolio with the $725 million purchase of One Kendall Square. The Pasadena, Calif., real estate investment trust's pending purchase price equates to a hefty $1,124 per square foot for the 7.88- acre, nine-building campus that includes a 1,530- space parking garage and the Kendall Square Cinema in booming East Cambridge."/>
One Kendall Sq. sold [Boston Herald]
DoubleDragon Properties Corp. has secured the approval of the Philippine Stock Exchange to list P10 billion of preferred shares, the company said on Monday. "The 100,000,000 preferred shares with a par value of P100 per share equivalent to P10 billion will soon be listed on the Exchange," DoubleDragon said in a disclosure to the PSE. Double Dragon noted the cash proceeds from the share sale will be used to fund the developments of core projects such as the CityMall commuity..."/>
DoubleDragon gets PSE nod on P10B preferred shares [The Manila Times, Philippines]
China Banking Corp., Philippine National Bank,..."/>
Fitch upgrades 4 PH banks ratings [The Manila Times, Philippines]
Bank of India governor Raghuram Rajan on Monday said that the Indian central bank is more open to experimentation at the early stages of a product or method of service but at the same time will have to be more conscious of the risks to stability. RBI's stand on experimentation will be clear in the soon-to-be-released peer-to-peer lending regulations, Rajan said, delivering the keynote lecture at an award function organized by Institute for..."/>
RBI more open to experimentation at early stages of a product or method of service: Raghuram Rajan [Mint, New Delhi]
Do you understand your loans well? [Mint, New Delhi]
ICICI Bank Ltd, on Monday announced plans to seek a stock exchange listing through an initial public offering of shares estimated to raise around Rs.5, 000 crore. The IPO of 181.34 million shares will be an offer for sale--a secondary market route that involves the auction of shares above a pre-determined floor price to public investors during normal equity market..."/>
ICICI Prudential Life files DRHP for India's first insurance IPO [Mint, New Delhi]
City Office REIT. Ron Rogg, executive vice president of the firm in Orlando, said the assets had performed well throughout recent market cycles and are expected to benefit from government's commitment to part of the property known as the Force Protection Zone."/>
BRIEF: Canadian group purchases offices near UCF for $50M [Orlando Sentinel]
BB&T Corp. said Monday it completed the conversion of 109 National Penn Bank branches, including about three dozen in the Lehigh Valley, to BB&T systems, products and signs, 11 months after the acquisition was first announced. BB&T, of Winston-Salem, N.C., announced in August it would acquire Allentown's National Penn for $1.8 billion. The deal was completed in April."/>
BB&T completes conversion of National Penn branches [The Morning Call (Allentown, Pa.)]
Bank of America plans to close its branch in the Hilton area of Newport News on Oct. 18, the company confirmed. Bank of America is consolidating the branch at 10504 Warwick Blvd. with the branch at 608 J. Clyde Morris Blvd., said spokesman Matthew Daily. The branches are about 4 miles apart in driving distance."/>
Bank of America to close Hilton branch in Newport News [Daily Press (Newport News, Va.)]
Bank of America Corp.-- realized much healthier quarterly mortgage production volume. The servicing portfolio continued to diminish. From the first day of April to the end of June, BofA funded $20.617 billion in new home loans."/>
Home Lending Volume Up at BofA [Mortgage Daily]
PNC Financial Services Group Inc., though there was a year-over drop. In the three months that ended on June 30, PNC's residential loan origination volume was $2.6 billion. That was among many operational details disclosed by the Pittsburgh-based financial institution in its second-quarter 2016 earnings report."/>
PNC Mortgage Originations Mixed [Mortgage Daily]
U.S. Bancorp, realized a healthy boom in residential home loans during the recent quarterly financial period. The lending institution finished the second quarter with $20.191 in mortgage originations."/>
US Bank Raises Mortgage Originations [Mortgage Daily]
Redwood Trust Inc. have been boosted by one million dollars. An update has been made by the Mill Valley, California-based company and the Mortgage Partnership Finance Program. A joint announcement issued Monday indicated that the loan limit on mortgage loans for the MPF Direct product was raised."/>
Higher Jumbo Limit at Redwood [Mortgage Daily]
Big Non-Agency RMBS Transaction [Mortgage Daily]
Wells Fargo Prominent Among Mortgage Layoffs [Mortgage Daily]
M and A Navigator: Deal pipeline –19 July

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Most Popular Sectors in the News
Sectors Articles in the last 7 days
Financials600 Articles
Information Technology598 Articles
Consumer Discretionary544 Articles
Industrials402 Articles
Health Care360 Articles

Sponsored Financial Commentaries

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact , please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.