PacTrust Bancorp's merger is “unique to Southern California,” according to Robert Franko, PacTrust Bank President and CEO.
Merchant banks
PacWest acquires CapitalSource Inc
PacWest Bancorp said that they will acquire CapitalSource Inc for US$2.29 billion in cash and stock options.
Tax charges and a merger make Julius Baer's profit fall
Julius Baer's profit fall 30% due to tax charges and a merger. Julius Baer Group AG said its profits fell due to two pressing concerns. These were a merger for expansion and a UK tax treaty.
Fed reconsiders financial firms' physical commodity trading
Financial firms' physical commodity trading may come to an halt as the Fed reconsiders its policy on this.
Sheik's stake in Barclays sold
Sheik Mansour's stake in Barclays was sold last month. Sheik Mansour bin Zayed al-Nahyan of Abu Dhabi sold his shares in Barclays. In a regulatory filing last month, the bank said that the Sheik's investment vehicle, PCP Gulf Invest 3, sold its 758.
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While many currencies have floundered, the Canadian dollar has provided great returns to investors. As the recent weeks have showed, many global currencies have been buffetted by volatile trade as well as the uncertainty as to the next decision of the US Federal Reserve as to its stimulus programs.
Pacific Potash engaged Ocean Capital's services to secure funds. Pacific Potash Corp. announced that it has engaged the services of Ocean Capital Inc.
US senators have announced a plan to reintroduce Glass-Steagall Act. U. S. Senator Elizabeth Warren, a Massachusetts Democrat, reported she and a team of lawmakers are introducing a bill geared at a revived Glass-Steagall Act.
The U.S. Consumer Bureau announced that banks supervised by them may now face penalties if they mistreat clients during collection.
Small banks cheered as US authorities drafts tough rules for Wall Street. After a vote, the Federal Reserve Bank decided in favor of the US version of global Basel III capital rules.
Asian stocks were swept up by Europe's rally while Euro continued to sulk. On Friday, Asian stocks increased as Euro tended its losses. This transpired after Europe's two most influential banks assured venture capitalists.
Money influx hurt China money market rates. Money market rates fell after the Chinese government announced injection of funds into an interbank market system.
The FCA orders trading bans on three Portuguese firms due to market volatility. (Photo : Reuters)The image is a worker sprucing up the UK regulator Financial Conduct Authority.
Banks leaving Switzerland due to the loss of secrecy in the banking transactions. (Photo : Reuters)The image is a bundle of 100 Swiss francs. Switzerland, the former Mecca for European lenders when it comes to private banking is now hurt with the change in banking secrecy and the rise in compliance.
