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PacWest CEO: Integration with Square 1 Bank will happen 'quickly'

2015-07-15 23:48:39| IT Services - Topix.net

With some of its newly reported numbers referred to as a "disappointment" by Matt Wagner , president and CEO of Los Angeles-based bank PacWest , the bank is looking ahead toward better days - particularly toward the closure of its buy of Durham-based Square 1 Bank , a deal worth an estimated $849 million. Wagner, releasing statements alongside an earnings announcement that disclosed negative net loan and lease growth for the quarter, said the merger with Square 1 was on track to close in the fourth quarter.

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NAB chief executive Andrew Thorburn says bank has done 'heavy lifting' on capital

2015-07-15 17:41:38| Automakers - Topix.net

National Australia Bank chief executive Andrew Thorburn is giving himself credit for raising $5.5 billion in equity before the banking regulator said the industry needs to boost capital ratios, even though there is no deadline or clarity on how capital strength will be defined. NAB's decision to raise capital at its May results "was a prudent, appropriate move" given bank capital is moving higher, Mr Thorburn said on Wednesday.

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Bank of America profits doubled

2015-07-15 16:19:47| BBC News | Business | UK Edition

Bank of America reports quarterly profits more than doubled from last year, as the US bank continued its recovery from the financial crisis.

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Canadians won't be enticed to borrow more if Bank of Canada cuts rate: CIBC poll

2015-07-14 11:28:08| Grocery - Topix.net

A new poll suggests policy-makers should have little fear of Canadians taking on more debt if the Bank of Canada moves to lower interest rates on Wednesday. The poll, issued by the Canadian Imperial Bank of Commerce , found that 93 per cent of respondents said they were unlikely to increase their borrowing if rates drop.

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Clean energy bank 'seeks legal advice' after Coalition pulls plug on wind and solar projects

2015-07-13 03:59:00| Climate Ark Climate Change & Global Warming Newsfeed

Guardian: The Clean Energy Finance Corporation (CEFC) is seeking legal advice after the government instructed it to halt investment in wind power and small-scale solar projects. On Sunday the federal government confirmed that wind and rooftop solar projects would no longer be financed, instead insisting the CEFC focus on funding new and emerging technologies. The CEFC was seeking legal advice on whether the governments directive fell within its investment mandate, in line with its usual legal processes....

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