Banking industry
The sale of BT Funds Management appears to be in disarray, with two of the short-listed bidders, ANZ Bank and National Australia Bank, deciding not to make a final offer for the $2 billion-plus deal. This move follows concerns over the asking price and the need to take on the
Banking industry
German bankers and businessmen are celebrating the announcement of Ernst Welteke as the Bundesbank's next president, succeeding Hans Tietmeyer who retires in August. Welteke, 56, currently runs the central bank in Hesse, one of Germany's 16 federal states, and has a background in politics, which may
Banking industry
The euro hit its lowest value since its introduction yesterday, sinking below $1.05, due to the European Union's decision to allow Italy to relax its budget deficit target. European Central Bank president Wim Duisenberg expressed concern that the move could undermine the euro's credibility, warning
Banking industry
Northeast Ohio's small banks and thrifts have maintained their financial performance despite the rapid consolidation in the banking industry. According to a recent study by KPMG LLP, these community banks have outperformed national averages on key measures of bank financial performance. The study analyzed 40 banks and thrifts
Banking industry
Texas-based Bank United is rolling out a new service that could change the way its customers interact with automated teller machines (ATMs). The bank has partnered with Diebold Inc. to deploy Iris Recognition Automated Teller Machines in three stores in Houston, Ft. Worth, and Dallas. These ATMs will allow customers
Banking industry
GE Capital, the financial services arm of the General Electric Company, announced that it will purchase the $11 billion US commercial loan portfolio of the Long-Term Credit Bank of Japan. This will be GE Capital's fifth acquisition in Japan since last year, highlighting the company's strategy
Banking industry
The World Bank and the European Commission have partnered to establish a joint task force to assess the economic impact of the war in Yugoslavia on Balkan countries. The task force will be headquartered in Brussels and co-ordinated by a high-level group led by the World Bank's president,
Banking industry
The UK government's plan to sell off more than half of its 715-tonne gold stock, which has been stored in the vaults of the Bank of England, will significantly reduce the country's official gold reserves. Over the next few years, the UK's gold reserves
Banking industry
As the economy continues to expand, technology companies in Madison are experiencing significant growth. Sonic Foundry Inc., a leader in media manipulation software, has reported a triple-digit revenue increase for the fifth consecutive quarter. The company's aggressive marketing campaigns have led to a net loss, but its revenue
Banking industry
Major public companies in various industries will broadcast their quarterly earnings conference calls over the internet, allowing investors and financial professionals to access the events efficiently. TeleBanc Financial Corporation, OAO Technology Solutions, Inc, Baldwin Technology Company, Inc, Sonic Foundry, Inc, HS Resources, Inc, and WorldPort Communications, Inc will utilize Vcall
Banking industry
Lucent Technologies Inc. and WinStar Communications Inc. have expanded their value-added reseller agreement, which will see WinStar reselling Lucent's entire portfolio of enterprise data networking products in six major metropolitan areas. Meanwhile, Alliance Bancorp reported decreased profit in the first quarter of 1999, and Vasco Data Security International
Banking industry
Answer Financial Inc., a leading online marketplace for insurance and financial services, has attracted $35 million in additional capital to fuel its rapid growth. This investment will enable the company to further accelerate its growth and add eight new product lines within the next 12 months. The new capital was
