Industry News

Westfield Financial Inc and Chicopee Bancorp Inc on Tuesday jointly disclosed Westfield Financial's receipt of final regulatory approval from the board of governors of the Federal Reserve System and the bank's receipt of approval from the Office of the Comptroller of the Currency, related to the merger transaction with Chicopee. Also, the companies stated that closing of the transaction is subject to receipt of approvals from the Massachusetts board of Bank..."/>
Westfield Financial announces receipt of Federal Reserve and OCC approval for merger transaction with Chicopee Bancorp
CIT Group Inc., Total System Services Inc., On Deck Capital Inc., and PHH Corp.. These companies belong to the Financial sector which continues to restructure and adapt to the changing landscape."/>
Research Reports Coverage on Select Credit Services Stocks -- CIT Group, Total System Services, On Deck Capital, and PHH Corp.
State Bank of India, obtained county clearance to begin restoration of the historic Brookdale Lodge, once a destination for President Herbert Hoover, gangster Al Capone and Hollywood stars."/>
County clears Brookdale Lodge restoration for hotelier Pravin Patel [Santa Cruz Sentinel, Calif.]
Sino Energy International Holdings Group Limited and is set to become its controlling shareholder. China Huarong Overseas will help Sino Energy actively pursue energy-related business. China Huarong Overseas had for a number of times during the year acquired shares of Sino Energy. On 23 June, China Huarong Overseas subscribed in the aggregate principal amount..."/>
China Huarong Overseas Invests in and Set to Become Controlling Shareholder of Sino Energy
ServisFirst Bancshares Inc reported on Monday that its board of directors authorised a quarterly cash dividend of USD0.08 per share. This dividend will be paid on 14 October 2016 to stockholders of record as of 4 October 2016.. ServisFirst Bancshares provides business and personal financial services in Alabama, Florida, Tennessee, Georgia and South Carolina through its subsidiary ServisFirst Bank."/>
ServisFirst Bancshares announces dividend of USD0.08 per share for Q3 2016
Castrol India Ltd witnessed a series of block deals on Tuesday, in which around 42.20 million shares or 8.5% stake in the company changed hands, Bloomberg reported. Details of buyers and sellers were not available. Shares of Castrol India opened sharply higher after the Bloomberg report said that BP Plc is selling 8.5% stake in Castrol India Ltd in a block trade."/>
BRIEF: Castrol India jumps 11.2% as BP looks to sell 8.5% stake in block trade [Mint, New Delhi]
Multi Commodity Exchange of India Ltd and the residence of FTIL founder Jignesh Shah. "Raids are going on at nine locations currently in connection to the case of grant of licence to MCX stock exchange in 2013," said a CBI official, on the condition of anonymity. "The raids are happening at the promoters residence,..."/>
CBI searches FTIL office, 8 other locations in connection with MCX-SX licence [Mint, New Delhi]
Fossil Group Inc. is just days away from launching "FossilQ" in India, marking the second launch of a smartwatch by a traditional watchmaker in as many months in Asia's third-largest economy. India's own Titan launched "JUXT Pro" in August, even as outsiders such as Apple, Samsung, Motorola and Huawei continue to try to crack India's nascent smartwatch market. The incentive to bring smartwatches to India is simple: 1.2 billion people, its burgeoning..."/>
How to crack India's smartwatch market [Mint, New Delhi]
KKR Names Paul Yang Head of Greater China
CoreLogic reported Monday. Homebuying soared 14.5 percent in August, rising year over year to 3,633 transactions. That's the highest number of transactions for an August in 11 years, CoreLogic figures show."/>
O.C. home prices up as sales boom in August [The Orange County Register]
Moody's Investors Service' outlook for Kuwait's banking system remains stable, reflecting the rating agency's expectation of continued government spending and growing loss-absorbing buffers, which will allow banks to manage modest new problem loan formation and balances an increase in market funding reliance that the rating agency expects in the context of low oil prices. The outlook expresses Moody's expectation of how bank creditworthiness will..."/>
Kuwait banking system outlook 'stable' [Arab News, Jeddah, Saudi Arabia]
Statoil ASA on 15 September 2016 for use in the group's Share Saving Plan have on 20 September 2016 been distributed to the employee's in accordance with their savings amount. Following this, the share saving plan has 10,301,895 shares. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This announcement is distributed by Nasdaq Corporate Solutions on behalf of..."/>
Statoil's share saving plan allocates shares
AT1 bonds: higher risk, higher yields [Mint, New Delhi]
ICICI Bank Ltd is looking to trim 12.63% stake and raise about Rs.6, 056 crore. As of 5:30pm on Monday, the IPO received applications for 20.89 million shares against 132.37 million shares, stock exchange data showed. The institutional investor category..."/>
ICICI Prudential Life's IPO draws 16% bids on Day 1 [Mint, New Delhi]
State Bank of India sold a 5% stake in NSE to Mauritius-based Veracity Investments Ltd for Rs911 crore,..."/>
NSE IPO values it at Rs45,000 crore [Mint, New Delhi]
Bharti Airtel Ltd and average monthly revenue per user of Rs 210 to achieve its targeted return on capital of 18-19%, Credit Suisse Securities said in a note to clients. "Given the scale of Jio's investments, and benchmarking costs to incumbent telecom operators, we estimate the company would require a revenue base as large as $9.5-10 billion to..."/>
Reliance Jio's network capacity edge gives room for tariff cuts: Credit Suisse [Mint, New Delhi]
Bharti Airtel Ltd continue to spar over the issue."/>
Reliance Jio-Airtel spat: Trai seeks data on points of interconnect [Mint, New Delhi]
Bharat Financial Inclusion Ltd, formerly known as SKS Microfinance, is changing rapidly as peer microfinance institutions are in the throes of morphing into banks. As Janalakshmi Financial Services Pvt. Ltd, Ujjivan Financial Services Ltd and Equitas Holdings Ltd become banks, they will have the edge over funding costs and thereby would be able to provide lower interest rates to borrowers."/>
As peers turn banks, will Bharat Financial Inclusion shine? [Mint, New Delhi]

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