Finance Industry

PNC Financial Services Group Inc. Q4 Earnings Advance 106%

PNC Financial Services Group Inc. (PNC) released a profit for its fourth quarter that gained ground compared to the same period last year. The company said its bottom line totaled $2.02 billion, or $4.18 per share. This was higher than $0.98 billion, or $1.97 per share, in last year’s fourth quarter. Analysts had expected the company to earn $2.20 per share, according figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items. The company said revenue for the quarter…

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Oyo pledges support for CBN financial inclusion initiative

Governor Abiola Ajimobi Gbenro Adesina/Ibadan The Oyo State Government has promised to support the Central Bank of Nigeria (CBN) initiative in actualizing the 80% Financial Inclusion rate by the year 2020. The secretary to the State Government, Mr. Olalekan Alli, gave this assurance on Thursday in Ibadan while declaring open the inaugural meeting of Financial Inclusion State Steering Committee (FISSCO) meeting held at the CBN Office. He urged members of FISSCO to take the assignment as a call to service…

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The Latest: University found financial aid irregularities

NEW YORK — The Latest on arrests in a financial aid scandal at Columbia University’s Teachers College (all times local): 4:45 p.m. A spokesman for Columbia University’s Teachers College says the criminal prosecution of a former employee and three others came after the school found irregularities in its disbursements of financial aid. The spokesman, James Gardner, says Thursday that an internal probe was launched last spring after irregularities were discovered pertaining to the financial aid of several students. He says…

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Malaysia’s CIMB to trim stakes in asset management JV with Principal Financial

KUALA LUMPUR, Jan 11 (Reuters) – CIMB Group Holdings Bhd will sell part of its stakes in two asset management joint venture units to U.S.-based partner Principal Financial Group for 470.3 million ringgit ($118.02 million). The second-largest bank in Malaysia by assets has agreed to divest 20 percent in its asset management joint venture, and 10 percent in the Islamic asset management unit to Principal Financial Group, the company said in a statement to the bourse on Thursday. Post sale,…

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London finance jobs post ‘seismic’ drop in sign of Brexit impact | Money

The Canary Wharf financial district is seen at dusk in east London November 7, 2014. — Reuters picLONDON, Jan 11 — Job vacancies in London’s finance industry fell 52 per cent in December, the most in three years, according to a survey. Recruitment firm Morgan McKinley attributed the drop partly to the holiday season and said its findings underscored the looming “Brexodus” from the City — particularly since there was also a 37 per cent decline in job openings year-on-year.…

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India, Sri Lanka sign agreement for US$ 45 million financial assistance to develop Kankasanthurai harbor

* India, Sri Lanka sign agreement for US$ 45 million financial assistance to develop Kankasanthurai harbor Wed, Jan 10, 2018, 09:20 pm SL Time, ColomboPage News Desk, Sri Lanka. Jan 10, Colombo: Sri Lanka and India today signed an agreement to provide Indian loan assistance of US$ 45.27 million (Rs. 6.9 billion) to upgrade the Kankasanthurai Harbor in Jaffna in the North. Secretary, Ministry of Finance and Mass media Dr. R H S. Samaratunga on behalf of Sri Lanka and…

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People’s Utah Bancorp Announces Financial Impact of Amendment to Federal Tax Code – Finance Industry Today

AMERICAN FORK, Utah, Jan. 10, 2018 (GLOBE NEWSWIRE) — People’s Utah Bancorp (the “Company” or “PUB”) (Nasdaq:PUB) announces financial impact of amendment to the federal tax code. On December 22, 2017, the President of the United States signed into law the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act amends the Internal Revenue Code to reduce tax rates and modify policies, credits, and deductions for individuals and businesses. For businesses, the Tax Act reduces the federal corporate tax…

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UK Scrambles to Secure Financial Services’ Future After Brexit

Europe 11:58 10.01.2018(updated 12:08 10.01.2018) Get short URL Non-inclusion of the financial services sector in the future Brexit deal could spell disaster for one of the UK’s economic mainstays, media reports have warned. During their trip to Berlin on Wednesday, Britain’s finance minister Philip Hammond and Brexit secretary David Davis will ask German business leaders to help change the EU’s implacable opposition to the UK’s financial services being included in the Brexit deal, the Guardian wrote. Hammond and Davis argue that maintaining a continued integrated…

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Capitol Federal Financial, Inc. (CFFN) Analysts See $0.16 EPS

January 10, 2018 – By Marie Mckinney Investors sentiment increased to 1.54 in Q3 2017. Its up 0.50, from 1.04 in 2017Q2. It increased, as 4 investors sold Capitol Federal Financial, Inc. shares while 35 reduced holdings. 13 funds opened positions while 47 raised stakes. 103.28 million shares or 0.04% less from 103.32 million shares in 2017Q2 were reported.Cortina Asset Limited Co has invested 0.21% of its portfolio in Capitol Federal Financial, Inc. (NASDAQ:CFFN). Sei Investments Co stated it has…

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China Restricts Micro-Loans; Alibaba’s Ant Financial Halts Asset-Backed Securities Lending | Crowdfund Insider

Following China’s decision to restrict micro-loans, Alibaba’s Ant Financial has reportedly halted its consume loan lending. According to Bloomberg, the company has not sold any asset-backed securities since early December, which was around the time that Chinese officials announced they were requiring micro-lenders to consolidate ABS into their balance sheets. In response, Ant Finance sent out an email explaining that it stopped issuing ABS as interest rates in the interbank market had gone up significantly.  Yang Junmin, an analyst at…

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Jay-Z’s “4:44” Flipped Into Financial Advice Book

Personal finance advisor and self-help author Ash Exantus, better known under the pen name Ash Cash, has written a financial help book using Jay-Z’s acclaimed album 4:44 as its focal point. Titled The Wake Up Call: Financial Inspiration Learned from 4:44 + A Step by Step Guide on How to Implement Each Financial Principle, Cash provides steps on making wise investments and starting businesses. “My inspiration for the book was that JAY was giving so much knowledge about how you can…

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Issuance Of The Board Resolution To Approve The Amended Rules For Qualified Foreign Financial Institutions Investment In Listed Securities

As part of Capital Market Authority’s (“CMA”) strategic objectives to develop the capital market and to expand the institutional investments, and based on the Capital Market Law issued by the Royal Decree Number (M/30) Dated 2/6/1424H, and based on the Rules for Qualified Foreign Financial Institutions Investment in Listed Shares issued by the Board resolution Number (1-42-2015) Dated 15/7/1436H corresponding to 4/5/2015G amended by Resolution of the Board of the Capital Market Authority Number (3-104-2016) Dated 5/11/1437H Corresponding to 8/8/2016G.…

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Peligry takes up chief financial officer role at Europcar | News

Europcar Group has announced the appointment of Luc Peligry as chief financial officer, in addition to his role as a member of the executive committee. Peligry has a strong background in finance and management in different business environments, including health, food, chemical, and consulting. Before joining the Europcar Group, he was general manager, finance and operations at Pierre Fabre Laboratoires, a French pharma and dermo-cosmetic group for six years. Previously, he held the same position at Invivo NSA and was…

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Financial planners advise late-comers to take the retirement-planning plunge – The Daily Reporter

A 50 year old just getting started in earnest on a retirement savings plan shouldn’t preoccupy himself with the circumstance. Rather, he should get to it, financial planners say. Traditional magazines and online publications offer a number of steps that the professionals advise for prospective retirees who are late to the task. For those individuals who feel the need to do some catching up, Forbes magazine advised updating the financial plan. “You’ll need a good estimate of your spending needs…

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Tompkins Financial donates to Lifting Up

From left: Demingus Chamber, once a client at the Open Arms shelter, now its chef; Anahaita N. Kotval, executive director of Lifting Up Westchester; William D. Winters, Tompkins Financial Advisors senior vice president and managing director for the Hudson Valley and Pennsylvania regions; Nilshika Weerasinghe, Tompkins wealth management assistant; Linda Gallo, Lifting Up Westchester board member; Dimitrios Alissandratos, Tompkins wealth management assistant; Joseph Gallo, Lifting Up board member; and Steven K. Shepherd, Tompkins wealth adviser. As part of its holiday support…

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New York Today: Teaching Teens the Financial Ropes

In 2002, the two hashed out a basic curriculum and started teaching it to teenagers at community centers and workshops. Friends and acquaintances, many of them from the financial services sector, volunteered to help. “We connected Wall Street with Main Street,” said Mr. Moore. Cents Ability was officially formed in 2004, and the organization began sending volunteers into the city’s public schools with the help of New York Cares. In the classroom, Ms. Bell wasn’t shocked that most students didn’t…

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