FSA to banks: Cut returns and dividends

first_img Tags: NULL whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap whatsapp THE FSA has warned banks that they might have to cut their targets for returns on equity (RoE) in order to meet a capital surcharge for major financial institutions.It has also said that it will remain “vigilant” to banks taking “excessive risks in an attempt to maintain return on equity”.In its annual Prudential Risk Outlook, the FSA warned that banks will only be able to achieve the necessary capital ratios “provided dividend payout rates are not excessive” and by restraining pay.FSA chairman Lord Turner (pictured) also reiterated that he favours counting capital in the form of equity rather than debt, saying: “There is a significant global support for an element of equity. The argument that equity is the best form of [capital surcharge] has significant support around the world.”Turner’s view makes it likely that if UK banks are allowed to use forms of debt to fulfil their core tier one capital requirements, they will have to be convertible into equity if their capital ratios fall too low and might have to use a highly cautious “exchange rate” for the conversion.Banks are keeping a keen eye on the different forms of capital-raising available, with Credit Suisse having already gone ahead with two rounds of contingent convertible (co-co) bond issuances in order to fulfill Swiss regulatory requirements. Simon Morris of law firm CMS Cameron McKenna said: “The FSA has gained a name for its poor grasp of macro-prudential regulation. There is the consequent risk that the FSA report is unduly negative because it is compensating for having missed the macro-prudential warning signs of the last crisis.”At the launch of the prudential outlook report, David Rule of the FSA’s macro-prudential team also estimated that UK banks’ exposure to Japan runs as high as £136bn. KCS-content Share FSA to banks: Cut returns and dividends Show Comments ▼ Thursday 17 March 2011 9:14 pmlast_img read more

BNY Mellon sees its revenues jump but misses some forecasts

first_imgTuesday 19 April 2011 9:04 pm BNY Mellon sees its revenues jump but misses some forecasts BANK of New York Mellon (BNY Mellon), the world’s largest trust bank, saw its first-quarter fee revenue rise 12 per cent year-on-year to $2.8bn (£1.7bn), a slip of five per cent from the last quarter.Its profits climbed to $625m, up from $559m the year before but lagging behind some analysts’ expectations. Its assets under management (AUM) also climbed 14 per cent to $25.5 trillion, offsetting damage done to fixed income funds by near-zero interest rates.Executives at the bank said yesterday it intends to continue its share buyback scheme. Last month the company said it will raise its quarterly dividend by 44 per cent and buy back $1.3bn worth of shares. The company said it wanted to buy back 47m shares, or about four per cent of shares outstanding. “[It is] a very effective way of returning capital to our shareholders,” a spokesman said.The bank splashed out around $4.4bn on acquisitions in the last year with a focus on overseas expansion. Share KCS-content Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap Tags: NULL whatsapp whatsapp Show Comments ▼last_img read more

Collins steps down from News UK role to return to start-ups

first_img Collins steps down from News UK role to return to start-ups During this time, she also spent 19 months as chair of The Lotteries Council. Bucci has served as The Sun’s general manager since 2019 and was previously Wireless’ chief operating officer. Collins joined News UK in November 2019, where he oversaw a portfolio including bingo brand Sun Bingo, racing affiliate Sun Racing and fantasy sports product Dream Team. Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Collins said that while he enjoyed his time at News UK, he wanted to return to the start-up space. She also has gambling industry experience, as managing director of The People’s Postcode Lottery for 11 years. People moves Collins, along with many of the Cashcade team, then went on to establish Gaming Realms, where he worked until 2019. Tags: Gaming Realms Simon COllins News UK Scott Taunton, chief executive of News UK’s Wireless brand, said Collins had delivered strong results for News UK’s betting and gaming arm.center_img “I’d like to take this opportunity to thank Simon for his hard work and entrepreneurialism over the last year,” Taunton said. “Simon has led the betting and gaming team during an important phase, focusing on new product development alongside driving strong revenues in this space.” Collins will be replaced as managing director of betting and gaming by Jo Bucci, currently general manager of The Sun. “I have thoroughly enjoyed my time at News UK,” Collins said. “It’s been a pleasure to work with such a talented team to develop some of the most popular gaming products in the UK environment – from Dream Team to Sun Bingo. 19th February 2021 | By Daniel O’Boyle He has previously been involved with two high-profile gaming businesses. He was a co-founder of Foxy Bingo operator Cashcade, that was sold to PartyGaming in a £95.9m deal in 2009. Following the acquisition he ran an investment fund for the operator. Topics: People Sports betting Bingo Social gaming Affiliates People moves Simon Collins has stepped down from his role as managing director of betting and gaming at media giant News UK, in order to pursue a new start-up opportunity. Regions: UK & Ireland “That said, my roots – and my heart – lay in the start-up space, and the lure of the new opportunities there was just too strong.” Email Addresslast_img read more

The Co-operative Bank of Kenya Limited (COOP.ke) Q32017 Presentation

first_imgThe Co-operative Bank of Kenya Limited (COOP.ke) listed on the Nairobi Securities Exchange under the Banking sector has released it’s 2017 presentation results for the third quarter.For more information about The Co-operative Bank of Kenya Limited (COOP.ke) reports, abridged reports, interim earnings results and earnings presentations, visit the The Co-operative Bank of Kenya Limited (COOP.ke) company page on AfricanFinancials.Document: The Co-operative Bank of Kenya Limited (COOP.ke)  2017 presentation results for the third quarter.Company ProfileThe Co-Operative Bank of Kenya Limited is a financial services institution offering banking products and services for the retail banking and wholesale banking sectors in Kenya. Its full-service offering ranges from transactional banking products to access accounts, LPO financing, invoice discounting services, term loans, asset finance and letters of credit. The company also provides medical, motor, general, life, agriculture and micro-business insurance as well as treasury products, fixed income and money market products and money transfer services. The Co-Operative Bank of Kenya was founded in 1965 and its head office is in Nairobi, Kenya. The company is a subsidiary of Co-op Holdings Co-operative Society Limited. The Co-Operative Bank of Kenya Limited is listed on the Nairobi Securities Exchangelast_img read more

Equity Bank Limited (EQTY.ke) 2019 Presentation

first_imgEquity Bank Limited (EQTY.ke) listed on the Nairobi Securities Exchange under the Banking sector has released it’s 2019 presentation For more information about Equity Bank Limited (EQTY.ke) reports, abridged reports, interim earnings results and earnings presentations, visit the Equity Bank Limited (EQTY.ke) company page on AfricanFinancials.Document: Equity Bank Limited (EQTY.ke)  2019 presentation Company ProfileEquity Bank Limited is a financial services institution in Kenya providing banking products and services for the personal, commercial and corporate sectors. The company offers a full-service offering ranging from transactional accounts and digital banking to school fees collection, custody investment and group accounts, trade finance, asset finance and microfinance loans. Equity Bank (Kenya) Limited is a subsidiary of Equity Group Holdings Limited and its head office is in Nairobi, Kenya. Equity Bank Limited is listed on the Nairobi Securities Exchangelast_img

Tadvest Limited (TAD.mu) 2020 Abridged Report

first_imgTadvest Limited (TAD.mu) listed on the Stock Exchange of Mauritius under the Investment sector has released it’s 2020 abridged results.For more information about Tadvest Limited (TAD.mu) reports, abridged reports, interim earnings results and earnings presentations, visit the Tadvest Limited (TAD.mu) company page on AfricanFinancials.Document: Tadvest Limited (TAD.mu)  2020 abridged results.Company ProfileTadvest Limited is a private investment holding company that seeks to invest in attractive, high yielding cash generative assets such as companies both in the pre-Initial Public Offering stage and also the listed ones. The assets that the company is interested in mainly fall within the categories of industrials, consumer goods, commercial and residential property. Tadvest Limited is listed on both the Stock Exchange of Mauritius and the Namibian Stock Exchange.last_img

Main St. Arts Festival provides something for everyone

first_imgKickball tournament raises money to kick out cancer ReddIt Abortion access threatened as restrictive bills make their way through Texas Legislature + posts Previous articleArtists relish opportunity at Main St.Next articleTwo TCU students arrested after fatal car crash Jake Foote RELATED ARTICLESMORE FROM AUTHOR ReddIt Fit Worth Corporate Challenge encourages fitness in the community Jake Footehttps://www.tcu360.com/author/jake-foote/ UIL recognizing cheerleading as a sport, adhering to stricter concussion guidelines Facebook Jake Foote Jake Footehttps://www.tcu360.com/author/jake-foote/ Twitter Jake Footehttps://www.tcu360.com/author/jake-foote/ Linkedin Linkedin Twitter GOP voters in Tarrant County set record for first-day voter turnout Facebook Jake Footehttps://www.tcu360.com/author/jake-foote/ Grains to grocery: One bread maker brings together farmers and artisans at locally-sourced store Fort Worth set to elect first new mayor in 10 years Saturday printPeople sprawled up and down Main Street this weekend to enjoy the Main St. Fort Worth Arts Festival.For 30 years, the Main St. Arts Festival has provided the people of Fort Worth with an opportunity to experience a one-mile stretch of art, food and music.This year, the festival hosted 215 artists who specialized in a variety of different art forms, including sculpture, painting, photography, woodcarving, glasswork, jewelry, fiber and multimedia.All different types of artistic expression were on display, ranging from Rube Goldberg machines to comic book cover representations of famous American historical figures.Most of the art on display was for sale, and art collectors could take this opportunity to find new pieces to add to their collection or discover a new favorite artist.Music also played a large role in this year’s festival. Headliners such as Tito Puente, Jr. and Green River Ordinance performed in Sundance Square and provided patrons with ambient sound.Paired with the beautiful weather, the music created a relaxing scene where festival-goers could sit down, relax and enjoy the wide variety of food and drink options that the festival had to offer.Both were available to patrons through the purchase of festival coupons, which cost $1 each.Coupons could also be used to participate in different arts and crafts activities in Main Street Creates. Geared toward children, this area of the festival provided the opportunity for kids to have fun with balloon animals, sand art, face painting and a rock wall.Near Main Street Creates, street performers stole the show as hordes of people crowded around to watch “The Unicycle of Death” and other exciting performances.The Main St. Fort Worth Arts Festival has been “The Art and Soul of Texas” for the past 30 years, and this weekend, it gave the people of Fort Worth a chance to experience art and culture in a variety of ways.last_img read more

Karachi judge refuses to release two L’Express journalists on bail

first_img Pakistani TV anchor censored after denouncing violence against journalists Pakistani supreme court acquits main suspect in Daniel Pearl murder News PakistanAsia – Pacific A Karachi judge denied bail to French reporter Marc Epstein and photographer Jean-Paul Guilloteau. They were taken handcuffed to Karachi prison. The authorities are still refusing to provide any information about Khawar Mehdi Rizvi. April 21, 2021 Find out more News PakistanAsia – Pacific Reporters Without Borders (Reporters sans frontières) deplored today’s decision by a Karachi judge to deny bail to French journalists Marc Epstein and Jean-Paul Guilloteau who, after appearing before the judge, were taken handcuffed to Karachi prison to await trial on charges of visiting the western Quetta region without permission.The Pakistani authorities are also still refusing to provide any information about Khawar Mehdi Rizvi, the Pakistani journalist who was working for Epstein and Guilloteau as their fixer and interpreter. Rizvi has been held in an undisclosed location since 16 December.Reporters Without Borders said it regretted the fact that the Pakistani authorities were taking no account of the statements made by the two French journalists and their lawyer. Epstein and Guilloteau simply crossed the Quetta region in order to enter Afghanistan and report on the activities of Taliban groups there.”Everyone knows that armed groups opposed to the Kabul government are active on the other side of the frontier,” the organisation said in a letter to Pakistani Prime Minister Zafarullah Khan Jamali. “We regret that the Islamabad government impose this kind of sanction on foreign journalists who are just doing their job of providing information on this issue,” the organisation added, calling for the release of all three journalists.Nafees Siddiqi, the lawyer acting for Epstein and Guilloteau, said he would appeal to the Sindh High Court on 22 December against Judge Nuzhat Ara Hakvi’s refusal to release them on bail. Epstein (picture), a reporter, and Guilloteau, a photographer, work for the French news weekly L’Express. As a result of crossing the Quetta region without special permission, they are accused of violating the Foreigners Act of 1946 and face up to three years in prison.Together with their fixer Rizvi, they were returning from the Kandahar region of southern Afghanistan where they had been preparing a report on Taliban activities. Epstein told the judge that Pakistan would not have appeared in their report for L’Express.Rizvi has been held since 16 December in an unknown location in Karachi by the Federal Intelligence Agency. Rizvi’s name is not mentioned in Epstein’s and Guilloteau’s First Information Report (FIR) although he was working for them. Rizvi’s brother said in a press release yesterday that he had been trying for five days to get information about him and he expressed concern and protest about his “disappearance.”The Pakistani authorities accuse Rizvi of helping the L’Express team prepare a false report designed to discredit Pakistan’s international image. The newspaper Jang reported yesterday that an employee of a Rawalpindi mosque had also been arrested for “complicity” with Rizvi. News RSF_en Pakistani journalist critical of the military wounded by gunfire Follow the news on Pakistan News December 20, 2003 – Updated on January 20, 2016 Karachi judge refuses to release two L’Express journalists on bail to go further Receive email alerts June 2, 2021 Find out more Organisation Help by sharing this information January 28, 2021 Find out morelast_img read more

PERRYMAN: Eighth time’s the charm in NAFTA negotiations

first_img PERRYMAN: Eighth time’s the charm in NAFTA negotiations Facebook Twitter Facebook Ray Perryman is the head of The Perryman Group and serves as a distinguished professor at the International Institute for Advanced Studies. So far, there have been seven rounds of negotiations among the United States, Mexico and Canada trying to agree on an update to NAFTA (the North American Free Trade Agreement), which was originally passed and signed into law in late 1993.Many things have changed since that time, most notably the emergence of the digital economy and all that it entails and the energy policies of the three nations, and there are good reasons to revisit the structure of the more-than-25-year-old agreement.Let’s hope the eighth round of NAFTA negotiations is the one where major breakthroughs occur, because the economic stakes are high. I have been active in this process for more than a quarter of a century, and there are few economic issues with more at stake for Texas.As I have noted before, basic economic trade theory, which is supported by centuries of observation and practice, posits that countries can improve their overall wellbeing through engaging in trade. The theory at its most simplistic assumes that there are two countries with varying skill sets and resources and two goods which are to be produced and consumed.While it can be feasible for a country to produce all that it needs of both goods on its own, it is likely that the other country can produce one of the goods more easily, cheaply and/or efficiently due to its specific skill and resource mixture. In fact, even if one country can produce both goods more efficiently than the other, there will be a difference in the degree of relative benefit, giving rise to a comparative advantage even for a country with no absolute advantage.Trade agreements can enhance prosperity by decreasing costs of importing and exporting and, thus, encouraging additional trade. For example, a number of studies have found that NAFTA has had a significant and positive impact on the economies of the countries involved. This result is consistent with expectations, as the widely varying characteristics of the three nations give rise to numerous opportunities to further optimize various comparative advantages in production and distribution.In 2016, U.S. merchandise exports totaled nearly $1.5 trillion in 2016, while imports were valued at over $2.2 trillion according to the U.S. Bureau of Economic Analysis (BEA). The primary destinations for U.S. exports are Canada and Mexico, followed by China, Japan and the United Kingdom. China is the primary origin for U.S. imports, followed by Mexico, Canada, Japan and Germany. China, Mexico and Canada combined account for 42.2 percent of exports and 47.4 percent of imports, making these nations by far the most important trading partners for the United States.While trade with Mexico and Canada comprises a significant portion of the merchandise exports from and imports into the United States, Mexico has an even larger dependence on the United States as a trading partner. According to the Secretaría de Economía in Mexico, Mexican exports totaled $373.9 billion and imports were $387.1 billion in 2016. Of that amount, 80.9 percent of Mexico’s exports go to the United States, while the remaining largest trading partners (Canada, China, Germany and Japan) have comparatively small totals. Similarly, 46.4 percent of Mexico’s imports originate in the United States, though China is another significant source for imports with 18.0 percent, followed by Japan, Germany and Korea. Around 11.0 percent of imports come from the European Union, with Germany being the largest single trading partner from that area with 3.6 percent of imports.We recently studied the trade relationships among United States and Mexico border states as part of a comprehensive study of the potential benefits of enhancing economic integration (more on that study and its results at a later date). Trade between the United States and Mexico has grown substantially during the past decades, more than doubling since 1999 and increasing by 15.7 percent since 2011, according to BEA data. Trade in goods and services between the United States and Mexico totaled $586.9 billion in 2016. The bulk of that amount was merchandise trade ($530.2 billion or 90.4 percent), while trade in services equaled $56.6 billion (9.6 percent).U.S. exports to Mexico were $261.9 billion in 2016 and were primarily capital goods (with the exception of automotive parts) and industrial supplies and materials. Imports from Mexico into the United States were valued at $325.0 billion in 2016; the largest categories were automotive vehicles, parts, engines and other capital goods.The border-region economy is large and growing. The 10 U.S. and Mexican states along the border generate trillions in economic activity each year. In fact, we estimated that annual business activity in the 10-state area includes nearly $9.1 trillion in expenditures, $4.4 trillion in gross product and $2.7 trillion in personal income. (Note that expenditures in this context measure the total volume of economic exchange that occurs in a given period, while gross product is parallel to the widely reported gross domestic product (value-added) series. Personal income is income which flows to individuals, and includes wages and salaries as well as rents, interest and other sources of income.)We also looked at the potential to increase trade among the states in the region. Our analysis indicates estimated total export potential from the 10-state area of nearly $2.3 trillion, while net import requirements for the region total more than $1.4 trillion. In other words, in spite of the deep ties (both social and economic) between the two nations and among the states, there is more than room for further interaction. To the extent that NAFTA’s new update can improve the integration of these economies, both nations will realize economic gains.The social and economic ties across the U.S.-Mexico border are strong, with large numbers of people and volumes of products crossing back and forth between the nations on a daily basis. The notable differences in costs and other characteristics between the two nations create a situation where international trade can flourish, with benefits for both countries. As we look ahead to NAFTA negotiation round eight, it is hoped that it will bring a deal that works for all of North America. There has been some progress in prior rounds, but maybe the eighth time will be the charm. By admin – April 1, 2018 Pinterest Pinterest WhatsApp WhatsApp Twitter Previous articleBBB: How to choose the right summer camp for your childNext articleHART: It’s going to be a Stormy summer admin Local NewsBusinesslast_img read more

Spotify annonce l’ajout d’un nouveau membre au sein de son conseil d’administration

first_img Mona Sutphen Local NewsBusiness Twitter By Digital AIM Web Support – February 16, 2021 Spotify annonce l’ajout d’un nouveau membre au sein de son conseil d’administration Pinterest Facebook Facebookcenter_img TAGS  WhatsApp Twitter WhatsApp Pinterest Previous articleOAT022021 Steven Wright.jpgNext articleSpotify annuncia l’aggiunta di un nuovo membro in seno al proprio Consiglio di amministrazione Digital AIM Web Supportlast_img