| //23-09-2009 |
Wells Fargo & Company (NYSE:WFC) today announced changes to its overdraft practices for Wells Fargo and Wachovia customers.
Wells Fargo will eliminate overdraft fees for customers when they overdraw their accounts by $5 or less and will charge no more than four overdraft fees per day. In addition, Wells Fargo and Wachovia customers will be able to opt out of overdraft coverage, meaning customers can specify that they don’t want their transactions authorized into overdraft if funds aren’t available to cover the transaction.
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| //22-09-2009 |
Wells Fargo & Company (NYSE:WFC) said today that Chairman Dick Kovacevich will step down as chairman and a director at the end of 2009 and retire from the company in early 2010, after 23 years with the company.
Kovacevich, who will be 66 next month, had agreed last November to continue as chairman for an interim period to focus primarily on issues related to the challenges facing the financial services industry and to the Wells Fargo-Wachovia merger integration. Wells Fargo’s Board of Directors, as it indicated last November, confirmed that President and CEO John Stumpf will assume added responsibility as Chairman effective January 1, 2010.
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| //18-09-2009 |
Credit Suisse today launched its 10th Asian Technology Conference (ATC) in Taipei, boasting record corporate participation. About 120 companies from technology and some non-technology sectors will present to institutional investors from around the world in approximately 1,800 one-on-one and small group meetings scheduled to take place during this three-day event.
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| //18-09-2009 |
Mitsubishi UFJ Financial Group, Inc. (MUFG; President and CEO: Nobuo
Kuroyanagi) hereby announces that it has filed its Annual Report on Form 20-F for the fiscal year
ended March 31, 2009 (the “Annual Report”) with the U.S. Securities and Exchange Commission on
September 2, 2009. The Annual Report includes MUFG’s audited consolidated financial statements
prepared under U.S. GAAP as of and for the fiscal year ended March 31, 2009.
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| //18-09-2009 |
The Bank of East Asia (“BEA”) today
announces that its wholly-owned subsidiary, The Bank of East Asia (China) Limited
("BEA China"), has received approval from the People’s Bank of China (“PBOC”) to
act as both a domestic settlement bank and domestic agent bank in China. These
new qualifications will further enhance BEA China’s ability to help customers on the
mainland conduct cross-border Renminbi (“RMB”) trade between China and Hong
Kong.
Since the release of the Administrative Rules on Pilot
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| //17-09-2009 |
In its second rate reduction this month, Woolwich will tomorrow [Thursday 17th September] reduce rates to exceptional levels on some of its most popular mortgages. The new range includes a one-year tracker mortgage at 1.98% [Barclays base rate + 1.48%, 60% LTV], rate cuts on two-year fixed mortgages by 0.1 per centage points to 3.99% and 4.09% [70% LTV], and a reduction on a three-year fixed rate by 0.4 per centage points to 4.49%.
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| //17-09-2009 |
"Goldilocks" Back in Town - Slow but Sustainable Recovery in Sight
NEW YORK and LONDON, Sept. 16 /PRNewswire/ -- Investors' optimism consolidated last month after its surge in August, with portfolio managers reassessing their positions to gradually embrace the current global economic recovery, according to the Merrill Lynch Survey of Fund Managers for September.
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| //17-09-2009 |
Wells Fargo & Company (NYSE: WFC) has been recognized in the Information Week 500 as the #4 innovative company for delivering advanced technology products and services that make it easier, faster and more convenient for customers to conduct their financial transactions.
This honor is a testament to the talent and dedication of our many team members and the partnership between the business and technology teams,” said Avid Modjtabai, head of Technology and Operations. “Also, it is significant because it demonstrates our commitment to develop innovative technologies to benefit our customers and help them succeed financially.”
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| //16-09-2009 |
Banco Espirito Santo Group and Saxo Bank expand mutual partnership. In aggregate, ESFG will hold close to 10 per cent of the share capital of Saxo Bank together with its subsidiary Banco Espirito Santo group, Portugal's largest private bank.
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| //16-09-2009 |
New York – Citi announced that its common stockholders approved the three resolutions submitted to common stockholders in its Common Proxy Statement dated June 18, 2009. In summary, the resolutions increase the number of authorized shares of Citi's common stock to 60 billion; eliminate the right of the holders of common stock to vote on any amendment to the restated certificate of incorporation that relates solely to the terms of any series of preferred stock; and authorize (but do not require) the Board of Directors to effect a reverse stock split, at one of seven ratios, at any time prior to June 30, 2010.
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| //16-09-2009 |
Zurich, September 16, 2009 According to the Financial Market Test Switzerland, carried out by Credit Suisse in cooperation with the Centre for European Economic Research (ZEW), economic expectations continued to brighten noticeably in September. The relevant Credit Suisse ZEW indicator rose by 39.4 points, reaching the 58.0 threshold. The indicator for the assessment of the current economic situation also markedly surpassed the previous month’s level, climbing 17.1 points to reach -62.0. Regarding short-term interest rates, the overriding majority (86.0%) of analysts surveyed predict that rates will hold steady in the coming six months. Meanwhile, inflation expectations have increased again versus the August reading, with the corresponding balance rising by 16.9 points to the 26.0 level. Although most (62.5%) of the financial market experts continue to predict that the Swiss Market Index (SMI) will gain ground, the relevant balance lost ground by 10 points month-on-month in September to the 43.7 mark.
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| //15-09-2009 |
PROFIT ATTRIBUTABLE TO SHAREHOLDERS OF THE BANK REACHED RMB 41.123 BILLION, UP 85.41% VS SECOND HALF OF 2008
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| //15-09-2009 |
Wells Fargo & Company (NYSE:WFC) said today that its internal investigation into alleged team member misconduct at a bank-owned residential property in Malibu, Calif., has concluded and that the employment of the team member involved in the incident has been terminated for violation of the company’s policies.
Wells Fargo took possession of the property, located on Malibu Colony Drive, last May as part of a private agreement with the prior owner. Under the terms of the agreement with the owner, the property was withheld from the market for an agreed-upon period of time.
In a statement, the company said: “Our investigation concluded a single team member was responsible for violating our company policies. As a result, employment of this individual has been terminated. We deeply regret the activities that have taken place as they do not reflect the conduct we expect of our team members. We continue to place the highest value on honesty, trust and integrity to guide our team members in making business decisions each day.”
Wells Fargo & Company is a diversified financial services company with $1.3 trillion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 10,000 stores and 12,000 ATMs and the internet (wellsfargo.com) across North America and internationally.
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| //14-09-2009 |
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| //14-09-2009 |
London & Liverpool, 14 September 2009 - Liverpool FC and Standard Chartered Bank announced today they had agreed a four-year deal for the bank to become the club’s main sponsor - the largest commercial agreement in Liverpool’s history. The agreement, which starts in July 2010 and runs through to the end of the 2013-14 season, will see the bank’s name and logo appear on the Liverpool shirt.
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| //13-09-2009 |
Certain malicious and motivated news items have been planted in a section of the media raising doubts on the quality of the portfolio sold by the bank to ARCIL.
A newspaper carried a baseless article on September 13, 2009 suggesting that the Institute of Chartered Accountants of India (ICAI) has asked the Reserve Bank of India to re-audit sale of loans by ICICI Bank to Asset Reconstruction Company (India) Limited (ARCIL).
The management has taken a serious note of such attempts and has lodged a complaint to the Economic Offences Wing (EOW) and other relevant enforcement agencies seeking thorough investigation into the attempt.
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| //12-09-2009 |
Since the opening of its first office in Thailand in 1978, Deutsche Bank has continued to expand its presence in this country where it today employs more than 140 people through its full-service corporate and investment bank and its significant local Private Wealth Management business. While Deutsche Bank’s first clients were German or multinational companies doing business in Thailand, its clients are now overwhelmingly Thai across the spectrum of its operations. Deutsche Bank’s Bangkok office has also been a traditional leader in transaction banking and was named Best International Trade Bank in Thailand in Euromoney magazine's 2008 Awards for Excellence.
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| //12-09-2009 |
Bank of China Limited (“BOC” or “the Bank”, HKEx stock code: 3988, SSE stock code: 601988) announced its 2009 interim results today.
In the first half of 2009, adhering to the government’s strategic direction to “maintain growth, expand domestic demand and promote restructuring” and the moderately relaxed monetary policy, the Bank continued to implement its strategic development plan. The Bank achieved significant progress in expanding business scale and adjusting business structure and remarkable results in both business development and improvements in risk management.
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| //12-09-2009 |
Wells Fargo & Company (NYSE:WFC) said today that its internal policies, including those that govern team member conduct, prohibit personal use of properties held by Wells Fargo. Based on these operating principles, the company has launched a full internal investigation of allegations that a team member was improperly using a bank-owned residential property in Malibu, California.
Wells Fargo took possession of the property, located on Malibu Colony Drive, last May as part of a private agreement with the prior owner. Under the terms of the agreement with the owner, the property was withheld from the market for an agreed-upon period of time.
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| //11-09-2009 |
ING Groep N.V. has sold 1,450,000 (depositary receipts for) ordinary shares for its delta hedge portfolio, which is used to hedge employee options. The shares were sold in the open market on 1 September and 2 September at an average price of EUR 10.53 per share.
ING does not issue new shares to cover employee options. Instead, employees receive shares from the delta hedge portfolio, which is maintained to minimise the market risks and price fluctuations that arise from the employee option programmes. The hedge position is adjusted periodically, generally on a quarterly basis, in accordance with regulatory requirements and ING's policies to prevent market manipulation.
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