Banking industry
GE today announced the appointment of Jonathan P. Graham as Vice President, Litigation and Legal Policy, effective October 4th, 2004. Graham will join GE from Williams & Connolly LLP, where he has been a partner focused on commercial litigation, international disputes, and criminal defense matters. Graham's expertise will
Banking industry
South Korea is bracing for a potential impact on the upcoming Chuseok holiday shopping season as a dispute between credit card companies and retailers over higher transaction fees continues to escalate. BC Card, the second-largest card issuer in the country with 26 million customers, has required retailers like E-Mart, the
Banking industry
The Reserve Bank of India (RBI) has taken a significant step towards embracing technology in banking operations by allowing banks to open branches that exclusively perform back-office or central processing operations. This move aims to reduce operational costs, enhance customer services, and streamline banking processes. The RBI has notified that
Banking industry
The Australian Labor Party (ALP) has unveiled its tax and family payments package, designed to ease the squeeze on middle Australia and encourage jobless individuals back into the workforce. While economists are still studying the intricacies of the package, initial feedback suggests that it is fully funded and should not
Banking industry
As the Bank of Korea's Monetary Policy Committee prepares to meet on Thursday to set its September target for the call rate, a recent survey suggests that 13 out of 15 think tanks and financial institutions predict the central bank to freeze the interest rate at its current
Banking industry
The South Korean government plans to revise legislation to hold financial institutions accountable for client inconveniences arising from internet hacking or other technical issues. This change is expected to be implemented in the second half of next year, although the exact timeline is still unclear. The Finance Ministry has already
Banking industry
The Export-Import Bank of the United States (Ex-Im Bank) and its Japanese counterpart, Nippon Export and Investment Insurance (NEXI), have signed a co-financing agreement to facilitate export transactions between companies in the United States and Japan. The agreement will enable Ex-Im Bank and NEXI to provide "one-stop" trade-finance
Banking industry
Wachovia Corp., a major financial institution, has made significant strides in community development lending, solidifying its position as a leader in the industry. As part of National Homeownership Month in June, the company tallied its community loans, investments, and contributions, revealing a total of over $20 billion in 2003. Wachovia
Banking industry
On Friday, the major indices performed exceptionally well despite record oil prices, with the Dow rising 0.69% and the Nasdaq and S&P 500 increasing by 1.0% and 0.65%, respectively. This rally was reflected in the fact that only two S&P industry groups -
Banking industry
Vozrozhdeniye Bank, a mid-sized corporate lender and retail bank in Russia, has received a stable financial strength rating and deposit ratings from Moody's Investors Service. The ratings recognize the bank's well-developed market sector and retail franchise, which serve as a source of stable funding. However, Moody&
Banking industry
Dusseldorf-based investment bank WestLB AG is in no hurry to sell its 31% stake in Europe's largest travel group, TUI AG, despite reports of interest from U.S. private equity firms. The bank values the stake at book value and will not part with it for less, a
Banking industry
A contentious takeover battle is underway in the Japanese banking industry, with UFJ Holdings, the smallest and weakest of Japan's top four banks, at the center of the negotiations. The bank has been under pressure from shareholders to consider an offer from Sumitomo Mitsui Financial Group, Japan'
