Industry News

IndAS and why the numbers don't add up [Mint, New Delhi]
IL&FS Transportation Networks Ltd will monetize three or four of its mature assets by creating an infrastructure investment trust, a top company official said. The company, one of India's largest build, operate, and transfer road operators, is finalizing plans to launch a trust over the next six to nine months, chief financial officer Dilip Bhatia said in a phone interview. InvITs are trusts which manage income-generating infrastructure assets,..."/>
ITNL planning debt-reduction by InvIT for roads: CFO Dilip Bhatia [Mint, New Delhi]
DLF Ltd, India's largest real estate developer, has shortlisted a few bidders for the sale of a stake in its commercial property arm and expects to receive binding, updated offers once the potential buyers complete due diligence. The realty firm circulated an information memorandum to a number of global and domestic investors in April and received preliminary bids from sovereign pension funds and private equity investors in June. The transaction is critical..."/>
DLF shortlists bidders for stake sale in office portfolio [Mint, New Delhi]
IndAS and why the numbers don't add up [Mint, New Delhi]
Assurant, one of Springfield's largest employers, is a national sponsor of Wounded Warriors Family Support and its High Five Tour. The tour's vehicle, a custom Ford Mustang, came to the Assurant's office. Assurant employees will inscribe messages of support directly on the special patriotic vehicle as it makes its way across America."/>
BRIEF: Wounded Warrior Tour comes to Springfield [Springfield News-Sun, Ohio]
Macy's still plans to close 100 of its stores, the struggling retailer's downsizing will not affect the Christmas shopping you plan to do at any of the department store chain's locations. That's because Macy's won't reveal the stores that will close until after Santa has left that polo, blazer or perfume under the tree. The retailer will announce the majority of the targeted stores by the end of January, spokeswoman Elina Kazan said."/>
Macy's to reveal stores to close in January [The Morning Call (Allentown, Pa.)]
Apple to pay back taxes to Ireland, saying the country gave the tech giant illegal tax benefits worth up to 13 billion euros, or $14.5 billion. The commission said Apple's tax deal with Ireland allowed the company to avoid paying taxes on almost all the profits generated by sales of Apple products across the single-market European Union. Ireland has a corporate tax rate..."/>
Apple: Europe tax penalty could top $18 billion, impact other tech firms, say experts [East Bay Times]
Thor Industries, Drew Industries and Patrick Industries. The top company will be announced at an awards banquet on Sept. 15 that will be held in conjunction with the INVESTIndiana Equity Conference at the Indianapolis Marriott Downtown. Thor is the owner of several subsidiaries that, when combined, represent one of the..."/>
BRIEF: Thor, Patrick and Drew finalists for public company of the year [South Bend Tribune, Ind.]
Facebook page and organic treats in its lobbies."/>
Green banker: Reception to Lauderdale branch preferable to 'ridicule and scorn' he experienced in Central Florida [Sun Sentinel]
M&T Bank Corp. executives played up the bank's local ties as they threw a party Tuesday celebrating M&T's 160th anniversary. "It's true that M&T Bank has grown a great deal in recent years," said Robert G. Wilmers, M&T's chairman and CEO, in front of the downtown headquarters. "But wherever we go, Buffalo will always be our home."/>
M&T Bank hails hometown ties on 160th anniversary [The Buffalo News, N.Y.]
Callidus Capital Corporation announced today that upon the terms and subject to the conditions of its substantial issuer bid, Callidus has taken up and accepted for payment 781,643 common shares that were validly deposited to the Offer as of August 30, 2016. The outstanding Offer is currently scheduled to expire at 5:00 p.m. on September 30, 2016, unless further extended or withdrawn by the Corporation. As previously announced by Callidus, the..."/>
Callidus Capital Announces Take-Up of Additional Shares Under the Outstanding Substantial Issuer Bid
Isabella Bank Corporation, announced today that the Board of Directors of the Corporation declared a third quarter cash dividend of $0.25 per common share at its regular meeting held on August 24, 2016. The dividend will be payable on September 30, 2016 to shareholders of record as of September 27, 2016. The closing stock price for ISBA on August 24, 2016 was $27.75."/>
ISBA Announces Third Quarter 2016 Dividend
Macy's empire plans to announce the locations of most of its 100 store closures by the end of January. Elina Kazan, national spokeswoman for Macy's, said Monday that the majority of the targeted stores to shut will be announced by the end of January 2017, or in about five months. "For those remaining locations, it will be sometime later-- not yet determined when.""/>
The 100 Macy's stores to close will be announced after Christmas [The Philadelphia Inquirer]
Centene Corp; and UPMC for You, which is owned by the University of Pittsburgh..."/>
Pa. picks three firms to manage Medicaid benefits for elderly and disabled [Philly.com]
Dundee Corporation and United Hydrocarbon International Corp. are pleased to announce that, in collaboration with the minority shareholders of UHIC, they have completed a restructuring of UHIC's capital structure pursuant to which UHIC has emerged with a clean balance sheet and sufficient working capital to pursue its immediate objective of attracting a joint venture partner or investors to fund the further development of its resources."/>
Dundee Corporation and United Hydrocarbon International Corp. Announce Restructuring

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