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Alibaba's affiliate receives approval to create private bank

2014-09-29 23:17:00| Telecompaper Headlines

(Telecompaper) A Chinese financial services company affiliated with e-commerce company Alibaba Group has received government approval to set up a private bank in the country. Ant Small & Micro Financial Services Group will have a 30 percent stake in the new bank. The financial firm operates e-payments provider Alipay, offers small-business loans and provides other financial services including the Yu'e Bao online investment platform for consumers.

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Can Bank Mutual pull another Brand Madness upset? Will Kohl's, Palermo's roll on?

2014-09-29 17:50:05| Automakers - Topix.net

Bank Mutual had a very strong showing in the first round of the Milwaukee Business Journal's Brand Madness, upsetting Potawatomi Hotel & Casino. Can the Milwaukee bank pull off another upset by knocking off Marcus Theatres? We launch the third group of second-round Brand Madness matchups today as we work towards finalizing the final 16 in our effort to determine Milwaukee's top brand.

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Big bank sell-off drives ASX lower

2014-09-29 10:38:52| Automakers - Topix.net

Australia's sharemarket has extended its recent falls, with banks once again leading the plunge as overseas investors dump their holdings. The benchmark S&P/ASX 200 index finished sharply lower, falling 49.2 points, or 0.9 per cent, to a fresh seven-month low of 5264.2 points.

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Philippines: World Bank clears $141M loan to finance Cebu bus rapid transit

2014-09-27 03:11:00| Climate Ark Climate Change & Global Warming Newsfeed

InterAksyon: The World Bank has approved a $141 million loan to fund the construction of the Philippines' first bus rapid transit (BRT). The financial package -- $116 million of which would come from the World Bank and another $25 million from the Clean Technology Fund (CTF) -- will help finance the construction of a 23-kilometer BRT system along a major transport corridor in Cebu City. The Philippine government will provide counterpart financing amounting to $87.5 million. The corridor runs from Bulacao...

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As Chemical Bank moves to Uptown, Bay City leaders eye rebirth for downtown branch

2014-09-26 20:57:14| Chemicals - Topix.net

Walter Szostak, president of Bay City Chemical Bank, sat in a bare office Friday, perhaps the last day he'll even need to step foot into the historic downtown Bay City building where the branch has been located since 1987. On Monday, Sept.

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