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Announcement re Nedbank Group Limited // 08-30-2010
HSBC Holdings plc has entered into exclusive discussions with Old Mutual plc about the possible acquisition of a majority stake in Nedbank Group Limited, South Africa's fourth largest banking group by total assets.
BOC’S PROFIT ATTRIBUTABLE TO EQUITY HOLDERS FOR THE 1ST HALF OF 2010 INCREASED BY 27% YEAR-ON-YEAR<\/font> // 08-30-2010
PROFIT AFTER TAX BY DOMESTIC OPERATIONS INCREASED BY OVER 30%
ICBC reports second quarter results // 08-30-2010
ICBC reported its financial results for the first six months of 2010 with net income for the first half of the year at $232 million, down from $277 million for the same period in 2009.\n\n\"Our customers' smart driving has made a major contribution to our financial results and we have asked for permission to reduce basic insurance rates by 1.9%. This would be in addition to the 3.3% reduction in 2009 optional insurance rates our customers are currently benefiting from,\" said Jon Schubert, ICBC's President and CEO.\n\n\"This 1.9% reduction is a significant filing with BCUC - if approved, it will be the first time in more than a decade that we have been able to reduce our basic insurance rates.\"
Despite Roadblocks, Some Light at the End of the Tunnel, Finds Charles Schwab Survey of Independent Advisors // 08-27-2010
-While world events have caused independent investment advisors to maintain a somewhat conservative outlook, there are still a few bright spots in their forecast, according to Charles Schwab’s latest survey of independent registered investment advisors. Nearly 60 percent of advisors surveyed say a double-dip recession in the U.S. is unlikely over the next six months, and more than 60 percent expect the S&P to increase during the same time period. Their optimism is tempered by the aftershocks of world events: more than 80 percent of advisors say their investment decisions have been impacted by the European debt crisis, half point to declines in the Chinese market, and 40 percent say the Gulf oil spill gave them cause for concern.
Wells Fargo Significantly Expands Its Expresssend® Remittance Network In Mexico; Now Offering Over 9,000 Remittance Payout Locations In Mexico // 08-27-2010
Wells Fargo & Company (NYSE: WFC) has expanded its ExpressSend remittance network in Mexico through an agreement with Houston-based Transnetwork Corporation, adding more than 4,000 payout locations in Mexico for a total of more than 9,000 locations.
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