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Mirae Asset’s $43bn subsidiary names Ryan O’Connor as chief executive
...Influential shareholder adviser Institutional Shareholder Services has clashed with two of Germany’s biggest blue-chips over a lack of boardroom independence, recommending the chairs of BASF and Munich Re...
...In a sign of faltering hope, Canada last year moved ahead with its own digital services tax....
...The report accused the BBC of being selective in how it communicated its strategy to shift more of its operations outside London, suggesting the corporation did so to present itself in a more favourable...
...The regional headquarter rules “were drafted more with the mindset of companies that sell products rather than those who sell services”, said Michael Bessey, a director at consultancy Albright Stonebridge...
...The government’s levelling up policy to tackle regional inequalities was a key plank of the Conservatives 2019 election manifesto....
...It sits at the heart of the premise of a development corporation: cut through red tape in the name of delivery....
...She said economic growth was essential for raising living standards and funding strong public services. Read more here....
...JPMorgan’s service area did not overlap with WaMu’s, so it was not taking out a competitor. Finally, there was no cost to the DIF. In fact, JPMorgan paid nearly $2bn for the bank....
...BlackRock said it had “paid all of its UK corporation tax, including the payment some time ago of all tax due in relation to this matter”, and that the “purpose of this hearing relates to the operation of...
...could be more trouble ahead for regional lenders....
...It recommended taxing capital gains at the same rate as the income schedule, which it said would raise £12.5bn a year for investment in local and devolved services....
...The latest fall in NYCB’s stock was not echoed in the wider regional banking sector. The KBW Regional Bank index, which includes NYCB, closed down just 0.4 per cent on Wednesday....
...Part of the reason for the profit drop was last year’s banking turmoil — the Federal Deposit Insurance Corporation imposed a one-time charge on many US banks in order to pay for losses, which the FDIC’s...
...PNC, the Pittsburgh-based regional lender, reported that lending dropped by $4bn or 1 per cent....
...KKR was also holding talks with large corporations and other private equity buyers about potential asset sales, they said....
...A day after the embattled regional bank received a $1bn lifeline from a consortium of big name investors led by former US Treasury secretary Steven Mnuchin, management spoke of the “beginning of a new chapter...
...Porticoes Capital will seek to take over banks closed by the Federal Deposit Insurance Corporation, the US regulator, according to an official filing....
...The corporation wants regional stations to replace some of their unique programmes with a shared stream, which critics say could hamper services for local communities....
...The FDIC employed its standard bank closure powers to handle last year’s regional banking crisis including the shutdowns of Silicon Valley Bank, Signature and First Republic....
...These job cuts will be split between the firm’s London and regional offices, according to one person familiar with the details, with a London-based team advising financial services clients among those set...
...It was cited by BDO USA’s switch from a partnership to a corporation. This was followed by $1.3bn in debt financing from Apollo Global Management to fund purchases of shares by a new employee trust....
...It follows a broader trend in professional services....
...Miles Celic, chief executive of financial services lobby group The CityUK, welcomed the announcements....
...In the first quarter, profits were weighed down by $476mn in severance and other one-off charges linked to the reorganisation, as well as $250mn in charges related to last year’s regional bank failures....
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