Industry News

M&T Bank Corporation on Tuesday declared quarterly cash dividends of USD15.9375 per share on each of the company's series A and series C preferred stock, it reported on Tuesday. The dividends will be paid on 15 August 2016 to shareholders of record at the close of business on 1 August 2016.. A financial holding company, M&T is headquartered in Buffalo, New York and its principal banking subsidiary, M&T Bank, operates banking offices in New York, Maryland, New Jersey, Pennsylvania,..."/>
M&T Bank declares dividend of USD15.9375 per share on its series A and C preferred stock
Netflix Inc. S&P 500 at 2,163 points is down 0.14%."/>
Opening Bell: Asian markets open lower; Wipro, FTIL in news [Mint, New Delhi]
DLF Ltd and global investor Blackstone Group Lp have arrived at a mutual decision to divide the shareholding agreement of the seven properties that the two partners own across Chennai, Bengaluru, Kochi and Indore, after more than a year of negotiation. Blackstone gets to keep two land assets in Bengaluru and one in Chennai, and the other four--one in Kochi and Indore each, two in Chennai--remain with DLF, said two people familiar with the deal."/>
DLF, Blackstone realign shareholding agreement of seven assets [Mint, New Delhi]
Ayala Land Inc., is spending P2.5 billion to develop the first tower of its latest residential offering at its Circuit Makati estate. Callisto Residences is Alveo's third residential tower in Circuit Makati, Ayala Land's 21- hectare mixed-use development in Makati City. The two-tower residential condominium is situated along Circuit Lane."/>
Alveo to spend P2.5B on Makati tower [The Manila Times, Philippines]
State Bank of India and 12 other state-run lenders, struggling with rising bad loans and losses, are set to get Rs.22, 915 crore in capital as the government seeks to boost loan growth in Asia's third-largest economy. The first instalment of the funds is being released to provide liquidity support to the banks and help them raise funds from the market, the finance ministry said on Tuesday. The remaining amount, linked to the banks' performance, will be..."/>
Govt to infuse Rs22,915 crore in 13 PSU banks [Mint, New Delhi]
Reliance Industries Ltd comfortably beat analysts' projections to record a sterling refining margin in the June quarter. Will it sustain that performance? In the three-month period, India's largest private petroleum refiner earned $11.5 from every barrel of crude oil it processed."/>
Can RIL sustain double digit growth in gross refining margin? [Mint, New Delhi]
Bank of America Baltimore market president, Dave Millman, is retiring after 35 years with the Charlotte, N.C.-based bank and a longtime executive has been named as his successor. Sabina Kelly, who has been with Bank of America for 20 years, will take over as Baltimore market president effective immediately, the company announced Tuesday. Kelly also will serve as business banking market executive, leading the company's work with small and mid-sized companies."/>
BRIEF: Bank of America names new Baltimore market president [The Baltimore Sun]
Synovus Financial Corp. to a $57.9 million profit in the second quarter of this year, the Columbus-based regional bank said Tuesday. That's up nearly 9 percent from a year ago, when the parent company of Columbus Bank and Trust reported second-quarter net income, or a profit, of $53.2 million. For investors, the latest profit equates to earnings per share of 46 cents, up more than 15 percent from the 40 cents per share the company..."/>
Synovus reports $57.9 million profit in second quarter, up nearly 9 percent [Columbus Ledger-Enquirer, Ga.]
INTEROIL BOARD DETERMINES EXXONMOBIL BUYOUT PROPOSAL SUPERIOR TO OIL SEARCH DEAL Singapore-based oil and gas business InterOil Corp.' s has determined that an unsolicited proposal to acquire the company received on 30 June from Exxon Mobil Corp. is superior to the company's existing deal to be acquired by Papua New Guinea oil and gas exploration and development firm Oil Search, the company said."/>
M and A Navigator: Deal pipeline 20 July
Hansteen has acquired 66.7% of the share capital of Ashtenne Industrial Fund Ltd. from Norwich Union Ltd. for USD 0.16 m in cash, the company said. The net assets of the General Partner at 31 December 2015 were GBP 0.17 m and the profits for the year ended 31 December 2015 were GBP 0.005 m. The General Partner has an investment of 0.03% in Ashtenne Industrial Fund Ltd. Partnership."/>
Property Investor Hansteen Acquires 66.7% of Ashtenne Industrial Fund Share Capital
Empiric Student Property plc has acquired the freehold of a 31- bed student accommodation property in Bath for USD 3.42 m, the company said. This property has been acquired from UK-based student accommodation developer IESIS Ltd.. The acquired property is a newly constructed student accommodation asset that was completed in May 2016 for the 2016/ 17 academic year."/>
UK Student Housing Operator Empiric Acquires Bath Property for GBP 2.6m
S&P Global Platts China Steel Sentiment Index for July, which showed a headline reading of 53.71 out of a possible 100 points. The July index jumped 37.79 points from 15.92 in June, reaching a three-month high and again breaching the 50- point threshold. A reading above 50 indicates..."/>
S&P Global Platts China Steel Sentiment Index Rebounded in July
Alaris Royalty Corp. announces that the Board of Directors of the Corporation has declared a dividend of $0.135 per common share for the month of July 2016, representing $1.62 per share on an annualized basis."/>
Alaris Royalty Corp. Declares July Dividend
Comerica, the second-largest bank in Michigan, plans to get rid of nearly 800 workers and close 40 branches in a bid to cut expenses and improve profitability in an increasingly challenging environment for the retail part of the financial sector. It was immediately unclear how those planned cutbacks would affect people who work for Comerica in Michigan or its bank branches in the state. In announcing second-quarter earnings on Tuesday, Comerica officials said they..."/>
Comerica to cut nearly 800 jobs, close 40 branches [Detroit Free Press]
TheStreet, today released a digital handbook titled, "Corporate Governance In the Era of Activism," which defines a first-ever code of conduct for institutions and their boards on how to expand shareholder value before, during and after approaches by disgruntled activist shareholders. According to FactSet, in the first five months of 2016 alone, activist investors launched 72 full-blown proxy contests to elect..."/>
First Code of Conduct for Boards Dealing with Activist Shareholders Released by Jim Cramer as a Living E-book
KeyCorp prepares to wrap up its deal for First Niagara Financial Group, community groups are eager to get to work with Key on a $16.5 billion lending and investing plan the bank agreed to. Back in March, the Cleveland-based bank and community advocacy groups signed a National Community Benefits Plan. The five-year program will touch all markets where Key will operate."/>
Community groups ready to work with KeyCorp on pledges [The Buffalo News, N.Y.]

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