Hints and tips:
...The UK’s status as a top financial hub is at risk Tracy Blackwell, CEO of the Pension Insurance Corporation, and Andy Griffiths, executive director of The Investor Forum, aren’t optimistic that reforms...
...The company’s revenue was eaten up by $25.1m of funding costs and loan loss provisions as well as $27.4m of operating expenses including spending on marketing and technology....
...In the settlement announced on Monday, the DFS accused Ocwen of operating a “patchwork of legacy systems and systems inherited from acquired companies” that led the mortgage servicer to incorrectly handle...
...The company said it believed it has resolved the letter dating issues that it has identified so far and is co-operating with the DFS....
...Operating expenses surged to $102.8m from $35.3m, including jumps in costs for sales and marketing and engineering and product development....
...“It still has a way to go before operating margins and returns get to the levels of the guys doing a better job.”...
...It was less easy to soothe investors when Harald Wilhelm, Airbus finance director, put up a slide revealing a plateau in 2016 operating earnings before one-offs....
...It added: “We are committed to continuing this strong performance as we capitalise on investments we’ve made for the future, focus on expense control and operating leverage [increasing revenues faster than...
...“Regulatory attention could accelerate a shift in servicers’ business models to areas with even greater operating risk,” the credit rating agency warned....
...Merrill Lynch, whose vast network of stock brokers became known as the “thundering herd,” will keep its brand and continue operating as normal, a spokesman said....
...Digging into dealer inventories: Tracy peers into Fed data which breaks out dealer inventories by security type....
...Proponents say the exemption evens out the playing field for those companies operating outside of the US – allowing them to compete with foreign rivals that may be charged a lower tax rate by their home...
...New partners will receive phone calls from Mr Blankfein or Gary Cohn, the bank’s chief operating officer, beginning this morning....
...The bank’s third-party mortgage servicer, PHH Corp, has also taken more time than initially expected to increase production....
...Tracy Alloway is the FT’s US financial correspondent...
...Its Lumia smart phones, running on Microsoft’s Windows operating system, have been the centre of attention for much of the past two years in its fight for survival....
...The agency also revised the rating outlook for the operating company level of US banks to “stable,” while keeping a “negative outlook” for the holding companies....
...“In the [unlikely] event that the NY DFS banned Standard Chartered from operating in New York it could instead use Fedwire to clear global US dollar trades provided that it is not banned from operating in...
...“It’s clear certain risks and costs are prolonged by the time between the execution of a trade and its settlement,” said Michael Bodson, DTCC chief operating officer and chief executive-elect....
...But operating revenue slumped for only the second time since 1938....
...Other operating costs rose 13 per cent to $105m....
...Detractors labelled the El Paso deal as another example of banks operating against the interests of their clients....
...Additional reporting by Tracy Alloway in New York...
...The New York Times, citing unnamed sources, says James Murdoch wanted to press ahead seeking regulatory approval for the bid, but was overruled by his father and News’ chief operating officer, Chase Carey...
...Muddy Waters argues that TRECN is operating effectively as a ‘forest ponzi scheme’ whereby the company relies entirely on capital markets in order to fund its aggressive growth capex to acquire trees...
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