Banking industry
NationsBank Corp., a leading banking giant in the United States, has strengthened its presence in the Northeast Ohio market by expanding its Cleveland office and designating it as the headquarters of its Midwest region. The subsidiary, NationsBank Business Credit, has quietly built a full-service financial services company capable of offering
Banking industry
The UK savings market has just become a lot more competitive as Standard Life announced its telephone bank offering an attractive 6.96 per cent before-tax interest rate on deposits as low as £1. This move puts Standard Life at the forefront of the competition, challenging high street banks and
Banking industry
Standard Chartered Bank, one of the first banks in the world to implement a new data repository system, has partnered with Sun Microsystems, Informix, and TIBCO Finance Technology Inc. to build an IT infrastructure for global treasury applications. The system, which has received orders worth over 4 million pounds, aims
Banking industry
As German Chancellor Helmut Kohl prepares to meet with UK Prime Minister Tony Blair and be granted the freedom of the City of London, he is facing a mounting challenge in his efforts to take Germany into the European single currency. The Bundesbank's recent expressions of misgiving, led
Banking industry
As German unemployment reaches nearly five million, sparking street protests, opponents of the euro are making a last-ditch attempt to postpone European economic and monetary union. Almost 160 German and Austrian professors have signed a manifesto calling for an "orderly postponement" of the euro, insisting that such a
Banking industry
F.N.B. Corporation and Seminole Bank have jointly announced the signing of a definitive agreement to combine Seminole Bank with Indian Rocks National Bank, one of F.N.B.'s Florida affiliates. As part of the agreement, Seminole Bank shareholders will receive 1.457 shares of F.N.
Banking industry
SouthTrust Corporation, a $31 billion regional bank holding company, has completed the acquisition of First of America Bank - Florida FSB, significantly expanding its presence in Florida. The acquisition adds 52 new offices and ATMs to SouthTrust's existing network, making it the largest bank presence in the state.
Banking industry
Microsoft Corp. has announced plans to split its stock for the seventh time in its history, with shareholders eligible for the 2-for-1 split if they are recorded on February 6. This move is aimed at making the stock price more accessible to investors. The software giant currently has about 2.
Banking industry
A new campaign is underway to prevent the Royal Bank of Scotland from taking control of Birmingham Midshires Building Society. The campaign, dubbed "Save our Building Societies," aims to rally members and secure a special general meeting to voice opposition to the takeover. The organizers argue that the
Banking industry
Citicorp, the second-largest bank in the U.S., has partnered with global music sensation Elton John as part of its aggressive campaign to reach 1 billion client accounts worldwide. Under an exclusive agreement, Citicorp will become the sole sponsor of John's 1998 world tour, which kicked off in
Banking industry
Major US companies reported varied results for the fourth quarter of 1997, with some experiencing significant gains and others facing challenges due to the Asian currency crisis. Continental Airlines, for instance, saw a notable increase in earnings of 181% due to higher passenger numbers and lower fuel costs. On the
Banking industry
A Milwaukee-based provider of long-term healthcare services has secured an $800 million financing package from a syndicate of major banks. The deal, which closed on November 26, 1997, provides the company with a source of funds to support its ongoing business operations. The financing package is divided into four parts,
