FAIRFIELD, Conn. – April 10, 2015 – GE [NYSE:GE] today announced that it will create a simpler, more valuable company by reducing the size of its financial businesses through the sale of most GE Capital assets and by focusing on continued investment and growth in its world-class industrial businesses. GE and its Board of Directors […]
In a joint session of the Federal Open Market Committee (FOMC) and the Board of Governors of the Federal Reserve System, the manager of the System Open Market Account (SOMA) reported on developments in domestic and foreign financial markets. The deputy manager followed with a review of System open market operations conducted during the period […]
Almost five years after it began, the unfair bank fees case against ANZ looks destined to reach a final conclusion in the High Court of Australia, after appeals against the Federal Court’s previous rulings were upheld today. Chief Justice of the Federal Court James Allsop today delivered the judgment of the Full Court of the […]
WASHINGTON – Today, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) issued guidance designed to facilitate automatic enrollment and contribution increases in 401(k) and similar retirement savings plans. This guidance adds to the current IRS self-correction program, which allows plan sponsors to easily correct administrative errors without risking the plan’s tax […]
WASHINGTON, D.C. — Cities around the world struggle to secure revenue sources and to manage funds efficiently, with serious consequences on everyday urban service delivery as well as long-term investment. To help city governments improve their financial management practices, the World Bank is offering a comprehensive online municipal finances course geared specifically toward local practitioners. […]
The Executive Board of the International Monetary Fund (IMF) today approved a three-year arrangement under the Extended Credit Facility (ECF) for Ghana in an amount equivalent to SDR 664.20 million (180 percent of quota or about US$918 million) in support of the authorities’ medium-term economic reform program. The program aims to restore debt sustainability and […]
The Royal Bank of Scotland Group plc (“RBS”) today announced it has reached an agreement to sell its internationally managed Private Banking and Wealth Management business to Union Bancaire Privée UBP SA (“UBP”). The sale comprises client relationships outside the British Isles and associated staff. RBS will continue to service UK Private Banking and Wealth […]
The Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) on Monday announced that they had completed the reviews of resolution plans submitted in 2014 by three large, foreign banking organizations and had issued feedback letters to each institution. In their review of the resolution plans from BNP Paribas, HSBC Holdings plc, and The […]
NEW YORK– American International Group, Inc. (NYSE:AIG) announced today that it has agreed to acquire a controlling stake in NSM Insurance Group, a leading U.S. managing general agent and insurance program administrator, from ABRY Partners and NSM management. Terms of the deal were not disclosed. The transaction is expected to close within the next 30 […]
The boards of directors of Sabadell S.A. (Sabadell) and TSB Banking Group plc (TSB) are pleased to announce that they have reached agreement on the terms of a recommended cash offer for TSB by Sabadell pursuant to which Sabadell will acquire the entire issued and to be issued share capital of TSB (the Offer). View […]
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