Insurance business lines impacted by falling asset prices, net loss E824m
The sale is a part of Commerzbank's strategy to focus on its core markets and activities
It enables users with timely access to investor, investment and fund information
Goldman Sachs and Morgan Stanley will serve as joint bookrunning managers for the offering
Cardholders to get extended car rental insurance
In Q1 of 2009, company witnessed $1.87m revenue, a 5.9% decrease
Web-based interface to enable managers with credit analytics
Cutting the cost of home insurance!
SEPA Connector will enable debtor banks to view SDD transactions, manage rejects and returns
Each ADR will represent one Intercell AG ordinary share
Under CPP, company plans to roll out new loan programs to accelerate lending activities
Citing signs of economic recovery, the Reserve Bank of Australia has elected to maintain interest rates at 3%. Despite falling house prices and expectations of rising unemployment in 2009, the stock market has picked up and there are some positive economic indications. However, the Reserve Bank must consider that banks may not pass on further rate cuts.
In the current economic environment, banks should carefully analyze the current and future total cost of ownership of their technology assets, and evaluate the outsourcing alternative. With a widespread lack of capital for costly upfront investments, renting ATM hardware and associated services becomes an attractive, and in some cases the only feasible, option to struggling banks.
The government's introduction of a 50% income tax rate for those earning more than GBP150,000 is the latest move in what is being described by some as a 'war on wealth'. The clampdown is obviously bad news for the country's private banking industry, but change also brings opportunity. Wealth managers should now focus on financial planning and helping clients to minimize their tax burden.
The 2009 Budget contained a sliver of good news for savers with the announcement that, from April 2010, everyone will be able to invest up to GBP10,200 in tax-free ISAs each year. However, due to base rate reductions the benefits of the scheme will be minor, and the new legislation would be improved if it allowed more flexibility, particularly for people over 50.
One of the notable measures in the UK government's 2009 Budget is an eventual reduction in pension tax relief for high earners from 40% to 20%. The change goes back on attempts to tackle the pensions gap, as it is likely to dissuade the wealthy from saving for a pension, making it vital that providers and advisors encourage consumers to make long-term savings and seek regular professional advice.
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