Industry News

Consistent performance from HDFC [Mint, New Delhi]
HSBC Holdings Plc.. India needs to generate a total of 80 million jobs by 2025, double that in the last 10 years. Taking into account both demand and supply of jobs, existing labour-intensive sectors like agriculture and services may not be able to meet..."/>
Flipkarts of India to help create 'missing jobs': HSBC report [Mint, New Delhi]
State Bank of India, the country's largest lender, to not spend 2% of its profit on CSR till the stress in the financial sector eases, according to the bank's chief executive. "We are a statutory corporation and as a result we have to take RBI's consent to be able to meet 2%."/>
RBI asked SBI to rein in CSR spending: Arundhati Bhattacharya [Mint, New Delhi]
Bank of India on Wednesday said it has penalized 13 banks in response to a foreign exchange scam that took place in October. "This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank and its customers," the central bank said in a statement on its website. The 13 banks include Allahabad Bank, Bank of India, Bank of Baroda, Canara Bank, Corporation..."/>
RBI penalizes 13 banks in foreign exchange scam [Mint, New Delhi]
Yes Bank Ltd's fiscal first-quarter profit rose 33% from a year ago on higher net interest income and other income. Net profit rose to Rs.731.80 crore in the three months ended on 30 June from Rs.551.20 crore a year ago. That beat the average profit estimate of Rs.700.40 crore based on a survey of 21 analysts by Bloomberg."/>
Yes Bank Q1 profit rises 32% to Rs731 crore [Mint, New Delhi]
Legg Mason reported Wednesday a profit of $33.5 million in the first quarter of its fiscal year 2017, bouncing back after two consecutive quarters of losses. The Baltimore money manager's first-quarter earnings are down, however, from the $94.5 million it earned in the same April-to-June quarter last year. Legg's per share earnings fell to 31 cents from 84 cents a year earlier."/>
Legg Mason reports $33.5 million profit for first quarter of fiscal 2017 [The Baltimore Sun]
Supervalu Inc. stumbled into summer as it contended with lower prices for staples like milk and eggs and intensifying competition with grocery store rivals. The Eden Prairie-based company on Wednesday reported lower across-the-board sales and a drop in net profit for the April-to-June period, and executives said they expected the difficulties to extend through the year. Supervalu shares fell 12.5 percent, the second-biggest drop this year after a 15- percent drop..."/>
Lower food prices add to challenges at Supervalu [Star Tribune (Minneapolis)]
Mondelez, maker of iconic brands including Cadbury and Nabisco, will start selling its Milka brand chocolate in China in September, hoping to capture a slice of a still-small market the company believes is ripe for opportunity. Deerfield-based Mondelez already sells items from its biscuit and gum categories in China. Brands under those umbrellas include Oreo, Ritz and Trident."/>
Mondelez hopes for sweet success as it launches chocolate in China [Chicago Tribune]
CarMax subleased 4,591 square feet of retail space in Mountain West Bank at 4250 Fairview Ave. in Meridian. Holly Chetwood of Thornton Oliver Keller handled the transaction. Boise Hot Yoga opened a second location and leased 2,871 square feet of retail space in Shops at State& Bloom at 5600-5630 W. State St. in Boise."/>
Who's moving in Treasure Valley commercial real estate [The Idaho Statesman]
Bank of America branch that would be demolished and rebuilt on the ground floor of the Berkeley Place Hotel, which will have about 335 rooms..."/>
Berkeley: City Council gives developer $13 million break [East Bay Times]
RusTeak owners bring new eatery downtown [Orlando Sentinel]
Mid-America Apartment Communities reported its second quarter earnings Wednesday, including a 5.7 percent increase in net operating income compared to the same period last year. MAA said revenue rose 4.4 percent and property operating expenses rose 2.3 percent in April, May and June. The real estate investment trust reported that its average effective rent per unit increased 4.4 percent, to $1,031, over the second quarter in 2015.."/>
MAA reports strong 2nd quarter [The Commercial Appeal, Memphis, Tenn.]
Pinnacle Financial Partners will be the first tenant in the $40 million offfice building Boyle Investment Co. will soon start building at 949 Shady Grove in East Memphis, Boyle announced Wednesday. The Nasvhille-based bank Pinnacle also has signage rights and is the construction lender for the six-story building of 155,000 square feet. The structure at the southwest corner of Shady Grove and Briarcrest will serve as the bank's Memphis headquarters starting in the..."/>
Nashville bank to anchor $40M office building planned by Boyle [The Commercial Appeal, Memphis, Tenn.]
FIBRA Macquarie México Reports Second Quarter Results
Credito Real's net income for 2Q16 increased 12.6%
Correction of EGM Information
UMB Financial Corporation has announced earnings for the second quarter of the year of $37.3 million, or $0.76 per diluted share. The report contrasts with the $36.2 million, or $0.74 per diluted share, recorded for the first quarter. Year-to-date earnings as of June 30 were $73.5 million, or $1.50 per diluted share, versus the $64 million, or $1.39 per diluted share, for the six months ending June 30, 2015.."/>
BRIEF: UMB reports quarterly earning [St. Joseph News-Press, Mo.]
FirstMerit Bank branches. The move triples Indiana, Pa.-based First Commonwealth's retail branch network in Northeast Ohio, giving it 11 branches in Canton and two in nearby Ashtabula. "We like Ohio and we're already in Ohio with sort of a spotty presence," said Jane Grebenc, president of First Commonwealth Bank."/>
First Commonwealth moving further into Ohio with FirstMerit Bank buy [The Pittsburgh Tribune-Review]

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