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]
IndAS and why the numbers don't add up [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]
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 The outstanding Offer is currently scheduled to expire at 5:00 p.m. on September 30, 2016, unless further extended or withdrawn by the Corporation.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
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]
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]
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
InfraREIT, Inc. today announced that Sharyland Utilities, L.P., which leases all of the Company's electric transmission and distribution assets, has agreed to a joint proposal with the staff of the Public Utility Commission of Texas and certain other rate case participants related to the threshold legal and policy issues previously raised by the PUCT in the ongoing Sharyland rate case. InfraREIT approved Sharyland's agreement to the Joint..."/>
InfraREIT Comments on Threshold Issues in Sharyland Utilities Rate Case
Firm Capital Mortgage Investment Corporation announces a 50% increase in the discount rate on its Dividend Reinvestment Plan to 3% on shares issued from treasury. Shareholders may elect to reinvest their dividends in FCMIC Common Shares at a 3% discount on shares issued from treasury. The new terms apply to shareholders of record who are entitled to cash dividends and have elected to participate in the DRIP for dividends paid on and after September 15,..."/>
Firm Capital Mortgage Investment Corporation announces a 50% increase in the discount rate to the Dividend Reinvestment Plan
W. R. Berkley Corporation announced today that William R. Berkley, its executive chairman and W. Robert Berkley, Jr., its president and chief executive officer, will present at the Keefe, Bruyette& Woods Insurance Conference being held in New York City. The presentation will take place on Wednesday, September 7, 2016 at 1:00 p.m. eastern time. The presentation will be webcast live on the Company’ s website at http://www.wrberkley.com."/>
W. R. Berkley Corporation to Present at the Keefe, Bruyette & Woods Insurance Conference
Synchrony Financial President and Chief Executive Officer Margaret M. Keane and Executive Vice President and Chief Financial Officer Brian D. Doubles will participate in the Barclays Global Financial Services Conference in New York on Tuesday, September 13, 2016 at 7:30 am. A live webcast and replay will be made available on the Synchrony Financial Investor Relations website at www.investors.synchronyfinancial.com. Synchrony Financial is one of the..."/>
Synchrony Financial to Participate in the Barclays Global Financial Services Conference
Northrim BanCorp, Inc. today announced its Board of Directors has promoted Michael Martin to serve as Chief Operating Officer of Northrim Bank, effective immediately.. Mike Martin assumes the role of Chief Operating Officer of Northrim Bank and remains an Executive Vice President, General Counsel and Corporate Secretary at both the corporate and bank levels. He is taking over the COO role from Joe Schierhorn, who remains the President and CEO of..."/>
Michael Martin Promoted to Chief Operating Officer of Northrim Bank

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