Financial services
Russell Simmons, a leading entrepreneur, activist, and philanthropist, will be a featured speaker at the CRO Conference on November 1, 2006, at the Marriott New York Financial Center. His participation underscores the importance of corporate responsibility and social impact in modern business. The conference, which includes a 20-speaker roster, will
Financial services
In a groundbreaking move, China's first cross-border commercial mortgage-backed securitization has been launched, marking a significant milestone for the country's asset-backed securities market. The $145 million issue, dubbed Dynasty Assets, was jointly arranged by Citigroup and Macquarie Bank, with Citigroup serving as the sole bookrunner. The
Financial services
Delta Financial Corporation, a Woodbury, New York-based specialty consumer finance company, has priced a securitization backed by $825 million of mortgage loans through its subsidiary, Renaissance Mortgage Acceptance Corp. The Renaissance Home Equity Loan Trust 2006-3 is a senior subordinate structure, with Standard & Poor's Ratings Services, Moody&
Financial services
As consumers became accustomed to earning 5 percent cash back on everyday purchases, credit card issuers have begun to reassess their reward programs. Citi Dividend Platinum Select MasterCard and American Express Green, Gold, and Platinum Reward and Preferred Reward cards are among those adjusting their rewards structures, reducing payback for
Financial services
Vodafone's executive Arun Sarin has failed to boost the company's share price despite raising £1.4 billion through the sale of a stake in Belgian mobile firm Proximus. Investors remain skeptical about the company's growth potential, particularly in Europe, amidst growing concerns about its
Financial services
Doral Financial Corporation, a diversified financial services company, has appointed Calixto (Cali) Garcia-Velez as the Chairman and Chief Executive Officer (CEO) of Doral Bank Puerto Rico. Garcia-Velez joins Doral from Citigroup, where he served as president of Citibank West, FSB, with assets of $109.6 billion and approximately 12,800
Banks (Finance)
Citigroup's decision to have its CEO Charles Prince take on the additional title of chairman has raised eyebrows among corporate governance experts. This move combines the two positions in a way that is peculiar to the United States and contrasts with the lead director model used in other
Banks (Finance)
The U.S. Office of the Comptroller of the Currency (OCC) has issued guidance for national banks to provide detailed disclosure about terms and conditions of gift cards. The move aims to protect consumers from hidden fees and expiration dates. OCC Comptroller John Dugan emphasized that the terms and conditions
Financial services
Emerging market shares trading in New York were Thursday modestly lower, with volumes receding after a busy session a day earlier. The Bank of New York's Emerging Markets American Depositary Receipts index was off 0.6% at 218.12 points. The Asian subindex was down 0.7% and
Financial services
eCarfly Incorporated, a company focused on online vehicle auctions and partnerships with major automotive groups, has been drawing attention from speculative investors. With its recent announcement to establish its finance division in Las Vegas, eCarfly is poised to grab a significant share of the trillion-dollar automobile industry. The company'
Financial services
Gen-Probe, a biotech company based in San Diego, has earned a spot on the nation's 100 best corporate citizens list, as compiled by Business Ethics magazine. With annual revenues of $305 million and 950 employees, Gen-Probe is significantly smaller than the giants it is often compared to, such
Financial services
Leading US companies have denounced Germany's proposed corporate tax reform, warning that it could trigger an exodus of foreign investment in the country. The reform plan, unveiled by Finance Minister Peer Steinbruck earlier this month, has been met with fierce resistance from the business community, both in Germany
