Industry News

E*TRADE prices offering of USD400m preferred stock
M&T Bank Corporation announced on Tuesday that it will pay a common stock cash dividend of USD0.70 per share for the third quarter of 2016.. This dividend will be paid on 30 September 2016 to shareholders of record at the close of business on 1 September 2016.. A financial holding company, M&T's principal banking subsidiary is M&T Bank that operates banking offices in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of..."/>
M&T Bank declares dividend of USD0.70 per share for Q3 2016
Banc of California Inc approved a common stock cash dividend of USD0.12 per share for the quarter, on the company's outstanding stock, it disclosed on Tuesday. Stockholders of record as of 15 September 2016 will receive the dividend payment on 3 October 2016. Also, the company said that based on the trading price of USD23.06 as of close of market on 15 August 2016, this dividend results in an annual yield of 2.08%."/>
Banc of California declares common and preferred stock dividends for quarter
Bank of America, which was sued by an Arab-American charity in Southfield that had accused it of discriminating against them when it closed the charity's bank accounts. In 2012, Life for Relief and Development in Southfield filed a lawsuit in Detroit against Bank of America after it had closed its accounts. Bank of America officials have said their decision was not because of the Arab ethnicity of Life's leaders."/>
Jury sides with bank in lawsuit by Arab-American charity in Southfield [Detroit Free Press]
Strategic Internet Investments, Inc. moved towards the final steps in its planned acquisition of the SkyTower Hotel by issuing $63 million in debentures to the owner of the hotel and to several strategic investors. SIII continues to rapidly expand its portfolio of real estate properties following its acquisition of AkCenter Shopping Center last month. For the SkyTower acquisition, SIII has issued debentures equal to the $63 million appraised..."/>
SIII Moves Towards Final Steps in SkyTower Hotel Acquisition
China Everbright Limited, was established and completed its first closing in the second quarter of 2016 with a total capital commitment of approximately US $264 million. CEL Global Investment GP Limited and CEL Global Management Company Limited, each an indirect wholly owned subsidiary of CEL, serve as the general partner and the investment manager of the Fund, respectively. The..."/>
CEL Global Investment Fund Completes Its First Closing
Commercial National Financial Corporation on Tuesday announced a dividend of USD0.26 per share for the third quarter of 2016.. All shareholders of record as of 26 August 2016 will be paid on 2 September 2016.. Commercial National operates as a bank holding company for Commercial Bank& Trust of PA that provides various banking services in Pennsylvania."/>
Commercial National announces dividend of USD0.26 per share for Q3 2016
Infosys Ltd said last Monday that it will carry out a ramp-down of a project with The Royal Bank of Scotland subsidiary, Williams and Glyn. The project involved 3,000 of its staff, most of whom were based offshore. This means it could have contributed about $80-90 million in annual revenues, according to an analyst at a multi-national brokerage."/>
Will Infosys miss its revised revenue guidance? [Mint, New Delhi]
State Bank of India is buying into their bond issuances. In the April-June quarter, SBI moved Rs.25, 000 crore worth of exposure to high-rated corporates from its loan book to its investment book. "A bond issuance is always a cheaper source of funding than a loan for a company."/>
SBI picks up bonds to retain high-rated corporate customers [Mint, New Delhi]
Hero MotoCorp Ltd and Honda Motorcycle and Scooter India Pvt. Ltd-- are preparing for a sales blitz on a scale not seen in the recent past. They are on an overdrive, stocking dealers with two wheelers much ahead of a season that only peaks in October with all the key festivals--Navratra, Dussehra and Diwali--falling in that month."/>
Hero, Honda switch gears ahead of festive season [Mint, New Delhi]
Kingfisher Airlines Ltd to investigate whether they laundered money taken as loans, two ED officials familiar with the development said on condition of anonymity. The fresh probe is in addition to the Rs.900 crore IDBI Bank loan default case that the agency is currently investigating. ED's fresh case against Mallya and Kingfisher Airlines is based on a complaint filed by a State..."/>
ED to register fresh case against Vijay Mallya [Mint, New Delhi]

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