Retail electronic payments network Visa has signed a seven-year agreement to renew its partnership with Wisconsin-based M&I Marshall & Ilsley Bank, an affiliate of Marshall & Ilsley Corporation.
5 Dec 2008 8:34am
TODAY'S NEWS
LATEST COMMENTARY
Citigroup: too leveraged to fail?
Caplin replaces homegrown platform at Barclays
Mortgage market: base rate cut leaves SVRs harder to obtain
RBS: bracing for first annual loss in 2008
Free banking model could be under threat
Lloyds TSB and HBOS: pressure for a merger may herald the end of competitive banking in the UK
Australia-based financial services firm Macquarie Bank has eliminated nearly 100 investment bankers and advisers, from its offices in Sydney, Melbourne and Brisbane, according to The Australian.
Japanese securities firm Nomura plans to cut nearly 1,000 jobs or nearly 20% of its staff in London, three months after acquiring parts of the collapsed American investment bank Lehman Brothers.
Capital One Financial and Chevy Chase Bank have announced a definitive agreement under which Capital One will acquire Chevy Chase in a cash and stock transaction valued at approximately $520 million. Both the banks are based in the US.
Canada-based National Bank Financial Group has reported a net income of $70 million, or diluted earnings per share of $0.37, in the fourth quarter of 2008, compared to a net loss of $175 million, or diluted earnings per share of $1.14, in the same period of 2007.
Wells Fargo Home Mortgage has entered into a multi-year consulting agreement with Lender Processing Services, a provider of integrated technology and services to the mortgage industry.
Orange, a brand of France Telecom, in partnership with BNP Paribas, has launched Orange Money in Ivory Coast, reportedly the first mobile phone-based payment and money transfer service in western Africa.
Credit Suisse has announced that the cost efficiency initiatives that will be implemented across all divisions throughout the bank will result in a headcount reduction of 5,300, an 11% reduction of its workforce.
Sweden-based Carnegie Investment Bank has announced that as part of its work on focusing on core operations within the four business areas, it will transfer responsibility for its property operations.
WisdomTree, an exchange traded fund sponsor and index developer, has announced the launch of the WisdomTree LargeCap Growth Fund (ROI) on the NYSE Arca with an expense ratio of 0.38%.