Industry News

Key takeaways from June quarter GDP numbers [Mint, New Delhi]
Bank of India governor Raghuram Rajan accepted a recommendation by the technical advisory committee to keep the policy rate unchanged at the 9 August monetary policy review, the last of his tenure, according to the minutes of TAC's pre-policy meeting released on Wednesday. TAC comprises five external members and is chaired by the RBI governor. The deputy governor in charge of monetary policy is an internal member of TAC, which was formed in July 2005 to..."/>
Raghuram Rajan accepts recommendation by panel to keep policy rate unchanged [Mint, New Delhi]
Bank of India, Indian Bank, Union Bank of India and DCB Bank Ltd.. RBL Bank shares closed 33.02% higher on BSE at Rs.299.30..."/>
RBL Bank makes stellar debut; market cap crosses Rs11,000 crore [Mint, New Delhi]
Cash America International and Arlington-based First Cash Financial Services on Wednesday, clearing the way for the two pawnshop companies to combine. The all-stock transaction is expected to close Thursday, and the combined company, to be named FirstCash Inc., will begin trading on the New York Stock Exchange on Friday under the First Cash ticker symbol, FCFS. The "merger of equals" was announced in April."/>
Cash America-First Cash pawnshop merger set to close Thursday [Fort Worth Star-Telegram]
Medley Management Inc., announced today that it provided a senior secured first lien term loan to facilitate ZS Fund L.P.’ s acquisition of AmeriJet Holdings, Inc.. Lauderdale, Florida, is a leading provider of air cargo and logistics services to and from the U.S. and the Caribbean, Mexico and Latin America."/>
Sierra Income Corporation Supports ZS Fund L.P.’s Acquisition of AmeriJet
Tesla Motors, first told his cousin Lyndon Rive, CEO at SolarCity, in February that a merger between the electric vehicle maker and the rooftop solar energy installer deserved "serious consideration." But it took four months and several twists along the way before the two companies reached a preliminary agreement on the $2.4 billion combination. While the companies considered the merger, three other firms expressed interest in buying or making an..."/>
The Buffalo News, N.Y., David Robinson column [The Buffalo News, N.Y.]
Apple Hospitality REIT, Inc. and Apple REIT Ten, Inc. have approved the companies' definitive merger agreement in separate meetings, the companies said on Wednesday. The deal, which was announced in April, will create a USD 5.7 bn select service lodging REIT, the companies said. Subject to the satisfaction or waiver of the remaining conditions to closing, the merger is expected to close on or about 1..."/>
US Lodging REIT's Apple Hospitality, Apple REIT Ten Win Shareholder Nods for USD 1.3bn Merger
Fiera Capital Corporation, as manager of the Fiera Capital Balanced Fund and the Fiera Capital High Income Fund, announced today that the targeted fixed rate of monthly distributions of the Funds will be replaced by a variable distribution rate. The Funds' distributions will be made monthly consisting of income and, to the extent necessary, return of capital."/>
Fiera Capital announces the reassessment of the targeted level of distribution of the Fiera Capital Balanced Fund and the Fiera Capital High Income Fund
MetLife employees in Ballantyne are transitioning to a managed services provider called CSC. The 106 affected employees will support MetLife customers in roles similar to their current jobs with the insurer, according to a statement from CSC. The changeover to CSC will be completed by the end of this year."/>
BRIEF: More than 100 MetLife employees in Ballantyne will soon work for a firm called CSC [The Charlotte Observer]
EMC Corp. in the S&P 100, and Charter Communications Inc. will replace EMC in the S&P 500 after the close of trading on Wednesday, September 7. Privately held Dell Corp. is acquiring EMC in a deal expected to be completed on or about that date, pending final conditions. The Kraft Heinz Company, headquartered in Pittsburgh, PA, manufactures and markets food and beverage products."/>
Kraft Heinz Set to Join S&P 100; Charter Communications to Join S&P 500
Arrow Financial Corporation Declares Stock Dividend
Select Bancorp, Inc., the holding company for Select Bank& Trust, announced today that its Board of Directors has authorized a share repurchase plan under which the Company may repurchase up to 581,518 shares of common stock.. President and Chief Executive Officer William L. Hedgepeth II stated,“ We are pleased that the Company’ s historical financial performance and well capitalized status enable us to return value to our shareholders through this share..."/>
Select Bancorp Announces Stock Repurchase Plan
Swire Properties confirmed Tuesday. In total, WeWork@ Brickell will encompass 62,000 square feet in the tower, set to be complete by the end of the year. Details on the WeWork location and its timeline were not released."/>
WeWork to open four-floor co-working center in Brickell City Centre [The Miami Herald]
Chemical Financial Corporation, holding company for Chemical Bank, announced today that it completed its previously announced merger with Talmer Bancorp, Inc., holding company for Talmer Bank and Trust, in a cash and stock transaction valued at approximately $1.7 billion based on Chemical's closing stock price on August 31, 2016. Subsequent to the closing, Chemical and its affiliates had, on a pro forma basis as of June 30, 2016, $17.2 billion in..."/>
Chemical Financial Corporation Completes Merger With Talmer Bancorp, Inc.
First American Financial Corporation, a leading provider of title insurance, settlement services and risk solutions for real estate transactions, today announced that company representatives will present at the Barclays Global Financial Services Conference on Tuesday, Sept. 13, 2016 at 3:30 p.m. EDT at the Sheraton New York Times Square Hotel in New York City. First American’ s slide presentation will be available at 7:30 a.m. EDT on Tuesday, Sept. 13, 2016..."/>
First American Financial to Present at Barclays Global Financial Services Conference in New York City, Sept. 13, 2016
Sun Life Financial Inc. today announced the dividend rates for its Class A Non-Cumulative Rate Reset Preferred Shares Series 10 R and Class A Non-Cumulative Floating Rate Preferred Shares Series 11 QR. With respect to any Series 10 R Shares that remain outstanding after September 30, 2016, commencing as of that date, holders thereof will be entitled to receive non-cumulative preferential cash dividends on a quarterly basis, as and when..."/>
Sun Life Financial Announces Dividend Rates on Class A Non-Cumulative Rate Reset Preferred Shares Series 10R and Class A Non-Cumulative Floating Rate Preferred Shares Series 11QR
Sun Life Financial Inc. today announced the dividend rates for its Class A Non-Cumulative Rate Reset Preferred Shares Series 10 R and Class A Non-Cumulative Floating Rate Preferred Shares Series 11 QR. With respect to any Series 10 R Shares that remain outstanding after September 30, 2016, commencing as of that date, holders thereof will be entitled to receive non-cumulative preferential cash dividends on a quarterly basis, as and when declared by the..."/>
Sun Life Financial Announces Dividend Rates on Class A Non-Cumulative Rate Reset Preferred Shares Series 10R and Class A Non-Cumulative Floating Rate Preferred Shares Series 11QR
Oritani Financial Corp., today announced that Michael A. DeBernardi has determined to step down as Executive Vice President, Chief Operating Officer and director of Oritani Bank and Oritani Financial, effective September 16, 2016. DeBernardi will remain to assist and facilitate during a transition period prior to his retirement on January 20, 2017. After that time he will serve as a part time..."/>
Oritani Bank Announces the Retirement of Director and Executive Vice President, Michael DeBernardi
W. R. Berkley Corporation today announced that Gregory A. Douglas, president of Berkley Re Direct, will undertake the additional responsibility of president of Berkley Program Specialists. The appointment is effective immediately. Douglas joined W. R. Berkley Corporation as executive vice president and chief operating officer of Berkley Re Direct in 2010."/>
W. R. Berkley Corporation Expands Role of Gregory A. Douglas, President of Berkley Re Direct, to Include President of Berkley Program Specialists
Voya Financial, Inc. announced today that Christine Hurtsellers has been named chief executive officer of Voya Investment Management, Voya Financial's asset management business, effective Sept. 1, 2016. She will join Voya Financial's Executive Committee and will report to Alain Karaoglan, Voya Financial's chief operating officer and chief executive officer of Retirement and Investment Solutions. Hurtsellers has served as chief..."/>
Christine Hurtsellers Named CEO of Voya Investment Management

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