Banking industry
NationsBank, one of the largest banks in the United States, has announced that it will continue its successful partnerships with Publix Super Markets Inc. and Winn-Dixie Stores, Inc. to operate in-store banking centers across Florida. This expansion comes on the heels of NationsBank's acquisition of Barnett, which had
Banking industry
HSBC, the multinational banking group, has announced its largest-ever provision against bad debt, amounting to $694 million, sparking concerns over the extent of the crisis in Asia. The bank's provision for the first half of the year was four times greater than that made at the same time
Banking industry
Pearson, the leading education publisher, has undergone a significant transformation under the leadership of Marjorie Scardino, who has refocused the group, sold non-core businesses, and made strategic acquisitions. The company has achieved consistent double-digit earnings growth, and its stock market value has nearly doubled in five years. Pearson's
Banking industry
The takeover of Birmingham Midshires Building Society by the Halifax Bank is expected to bring a significant boost to the economy, with each of the society's one million members set to receive an estimated windfall of $750. The Halifax, which has reported half-year profits of $843 million, is
Banking industry
Halifax, one of the largest building societies in the UK, is poised to announce the details of its agreed takeover of Birmingham Midshires this week. The deal, valued at £780m, would result in an extraordinary general meeting later this year to approve the acquisition. If successful, over one million members
Banking industry
Crestar Financial Corp., Richmond's last remaining major independent bank, is on the verge of being acquired by SunTrust Banks Inc. of Atlanta, marking a significant loss for the city's financial landscape. This development comes as no surprise, given the industry's shift toward a few
Banking industry
SunTrust Banks, a leading banking institution in the southeastern United States, has announced its decision to acquire Crestar Financial in a deal valued at $9.5 billion. This strategic move aims to expand SunTrust's presence along the East Coast, particularly in the fast-growing Virginia-Washington D.C. market. The
Banking industry
A proposed plan by the federal Labor Party to preserve banking services in rural Australia has sparked heated debate, with the Australian Bankers Association labeling it "unnecessary, unwise and discriminatory." The policy, unveiled by shadow treasurer Gareth Evans, would see banks contribute up to $20 million to a
Banking industry
Bank of Oklahoma has signed a contract with Pegasystems to deploy an automated workflow solution for the consumer banking industry. The initial deployment will automate the Bank's check research and adjustments operation, with future plans to extend the functionality to other process-intensive departments. The Pegasystems solution aims to
Banking industry
Pacific Bank, N.A. has finalized the acquisition of Sterling West Bancorp, the holding company of Sterling Bank in Los Angeles, California. The transaction, valued at $12.3 million, or $7.11 per share, was completed in cash, expanding Pacific Bank's presence in California and boosting its assets
Banking industry
Brilliance China Automotive Holdings Limited, a leading manufacturer and distributor of minibuses in the People's Republic of China, has announced a proposed public offering of 8,000,000 shares of Common Stock. The company, which owns a 51% interest in Shenyang JinBei Passenger Vehicle Manufacturing Company, Ltd., a
Banking industry
Microsoft Corp. has settled a lawsuit with SyNet Inc. over the rights to the Internet Explorer brand, securing its use of the popular Web browser name. As part of the settlement, Microsoft paid SyNet an undisclosed amount for its interest in the name and Illinois state registrations. The company'
