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Friday, April 28, 2017

IDFC’s Q4 net profit up 4% at Rs 135 crore

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58419658.cmsThe company’s profit after tax stood at Rs 135 crore as compared to Rs 130 crore in the corresponding quarter of the previous fiscal.

April 28, 2017 at 08:33PM

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RBI deputy governor Viral Acharya proposes creative ways to deal with ailing govt banks

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RBI deputy governor Viral Acharya proposes creative ways to deal with ailing govt banks The Reserve Bank of India (RBI) has proposed private capital raising, non-core asset sales, mergers, tough prompt corrective action and government stake sale to deal with weak public sector banks.

April 28, 2017 at 08:38PM

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Sebi tightens mutual fund remuneration disclosure norms

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Sebi tightens mutual fund remuneration disclosure norms With an aim to bring in greater transparency in dealings of mutual funds (MFs), markets regulator Sebi today asked MF houses to disclose to investors the remuneration of employees earning Rs 1 crore in a financial year.

April 28, 2017 at 08:34PM

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Shinhan Financial Group Files its —…–6 Form —…-F to the SEC – GuruFocus.com

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Shinhan Financial Group Files its —…–6 Form —…-F to the SEC
GuruFocus.com
SEOUL, South Korea, April 28, 2017 /PRNewswire/ — Shinhan Financial Group (NYSE: SHG) announced today that it filed its Annual Report on Form 20-F for the year ended December 31, 2016 with the U.S. Securities and Exchange Commission (SEC) on …

and more »

April 28, 2017 at 08:39PM

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Meet four of the startups in the Founder Spotlight at TC Disrupt NY

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 At Disrupt NY in May, we’re launching the Founder Spotlight, where startup founders will be able to tell the human story behind their company. We’ve already revealed a handful of those companies, and today we’re excited to tell you about the rest of them. Bowery Farming Bowery Farming is a startup looking to change the way we grow food. With the global population growing,… Read More

April 28, 2017 at 07:31PM

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from Jordan Crook

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Lear finalise l’acquisition de l’activité de sièges automobiles de Grupo Antolin

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SOUTHFIELD, Michigan, 28 avril 2017 /PRNewswire/ — Lear Corporation (NYSE : LEA), un important fournisseur mondial de sièges automobiles et de systèmes électroniques, a annoncé aujourd’hui la finalisation de son acquisition de l’activité de sièges automobiles de Grupo Antolin….

April 28, 2017 at 08:33PM

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Lear Completes Acquisition of Grupo Antolin’s Automotive Seating Business

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SOUTHFIELD, Mich., April 28, 2017 /PRNewswire/ — Lear Corporation (NYSE: LEA), a leading global supplier of automotive seating and electrical systems, today announced the completion of its acquisition of Grupo Antolin’s automotive seating business.
Grupo Antolin’s seating business…

April 28, 2017 at 08:33PM

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Teavana will suffer as mall traffic consolidates: Howard Schultz

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Howard Schultz, Starbucks executive chairman, says Teavana will be part of the mall problem but Starbucks is insulated from that.

April 28, 2017 at 08:32PM

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The House Mother and The Fraudster

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The Convicted Con Artist Of The Winter White House

Ari Rinkus was convicted of two felonies, owes hundreds of thousands of dollars to his victims, and has a documented habit of lying. But he’s got one big thing going for him: a wife with an important job at Donald Trump’s favorite retreat. And Rinkus is playing that for all it’s worth.

An admitted fraudster who owes hundreds of thousands of dollars to his victims has had access to President Donald Trump through his wife, who is the guest reception manager of Mar-a-Lago, the Winter White House.

Heather Rinkus is such a familiar figure at Mar-a-Lago that senior administration officials fondly call her the club’s “house mother.” Her husband, Ari, is often on hand, too. There he was in February, waiting to greet President Trump in the special access area on the tarmac of Palm Beach International Airport, a few yards away from Air Force One.

But it wasn’t that long ago that Ari, whose real name is Anthony Donald Rinkus, pleaded guilty in federal court to felony wire fraud for a complex financial con job.

That guilty plea came on the heels of a previous one in state court for conducting a car-theft ring.

In fact, Rinkus was still on probation for his earlier crime when he stood to hear his sentence for the Ponzi scheme. “I can’t imagine a worse combination of situations, to be knowing that you just contracted a state felony, that you’re on probation for it, and then to step into a whole new fraud,” federal Judge Robert Jonker said before he ordered Rinkus to serve three years behind bars.

Now he is out of prison and on probation, though a gilded one. Through Heather’s job, the Rinkuses get to witness up close the pageantry of the presidency. It’s a deal Ari has said will become sweeter if Heather gets promoted to the club’s managing director, a position he has told sources she is next in line for.

Since his inauguration, Trump has already spent seven weekends at the 20-acre club on the Atlantic Ocean, giving members who have paid more than $200,000 in fees a ringside seat on the inner workings of his administration. It was here where Trump met with Japanese Prime Minister Shinzo Abe, here where he was briefed on North Korea’s test of a ballistic missile, and here where he ordered the bombing of Syria.

Source: Buzzfeed

The post The House Mother and The Fraudster appeared first on Compliancex.

April 28, 2017 at 08:33PM

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from The Compliance Exchange

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Barclays boss faces shareholder revolt over whistleblowing case

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Advisory group tells investors to abstain from vote to re-elect Jes Staley to board after he tried to unmask whistleblower

Barclays’ chief executive is facing a shareholder revolt at next month’s annual meeting because of the ongoing regulatory investigation into his attempts to unmask a whistleblower.

Shareholders are being advised to abstain from the annual vote to re-elect the American banker Jes Staley to the board by ISS, an influential adviser to major investors, in a sign that the bank could face a significant protest vote against its chief executive at the 10 May AGM.

Barclays would not comment on the advice issued by ISS, but took steps to avoid a rebellion over the election of Sir Ian Cheshire as a non-executive director by promising investors that he would reduce the number of board roles he holds at other companies – dubbed “overboarding” by investors.

Staley will be braced for questions about his conduct when the bank reports its first-quarter results on Friday. He has issued a written apology for becoming too personally involved in the whistleblowing case, which related to the conduct of Tim Main, who worked with Staley at US bank JP Morgan and was then recruited to Barclays in a senior role last June.

Both the Financial Conduct Authority and the Bank of England’s Prudential Regulation Authority are investigating the matter. Barclays has formally reprimanded Staley and insisted that there will be a significant reduction in his bonus, which was £1.4m last year.

Staley became chief executive in December 2015 at a time when the bank was scrambling to repair its reputation in the wake of the Libor-rigging crisis and other scandals.

Not only is it unusual for City regulators to investigate the conduct of chief executives of major financial institutions, it is also unusual for major proxy firms to issue advice to abstain against their re-election to the board.

Cheshire – who was boss of Kingfisher, owner of B&Q – is also facing a revolt. He is intended to become chairman of Barclays “ringfenced bank” – mainly the high-street operations – which must be set up by 2019 under rules intended to avoid a repeat of the 2008 financial crisis.

But he also chairs retailer Debenhams, French furniture company Maisons du Monde and investment company Menhaden Capital, and is senior independent director at Costa Coffee owner Whitbread – the role he is regarded as most likely to relinquish.

Proxy advisory group Glass Lewis is recommending voting against Cheshire’s appointment, while ISS has recommending backing him on the basis that he needs time to cut back his other roles, but will review the situation next year.

Barclays said plans were in place for Cheshire to reduce the number of his directorships. “Sir Ian was appointed to the board on 3 April 2017 and has committed to Barclays and its regulators that he will reduce his other directorships by September 2017,” the bank said.

Source: Flipboard

The post Barclays boss faces shareholder revolt over whistleblowing case appeared first on Compliancex.

April 28, 2017 at 08:33PM

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from The Compliance Exchange

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Managing energy market volumetric risk

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Krzysztof Wolyniec presents a volumetric risk management model for energy markets

April 28, 2017 at 08:05PM

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CEO Senti-Meter: Is India Inc enthused about FY18?

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CEO Senti-Meter: Is India Inc enthused about FY18? CEO Senti-Meter, a CNBC-TV18 special, does a mood check of what the industry is thinking about the economy, are the spirits upbeat, have their animal spirits been revived. Take a look at the key highlights from the CIIs annual session.

April 28, 2017 at 08:14PM

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S Chand IPO a hit, oversubscribed 59 times on last day

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S Chand IPO a hit, oversubscribed 59 times on last day The initial public offering of textbook publisher S Chand and Company saw solid investor demand as it was oversubscribed 59.28 times on the last day of offer today.

April 28, 2017 at 08:14PM

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This week in auto: Maruti unveils new Dzire, Kia to enter India

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This week in auto: Maruti unveils new Dzire, Kia to enter India The auto industry saw an action-packed week. Here are the top motown stories for the week gone by.

April 28, 2017 at 08:14PM

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Affordable supersonic jets promise to cut flight time in half

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The general consensus is that supersonic passenger flights died with the Concorde. 

Think again. A startup called Boom is bringing it back to life with faster and quieter aircrafts, but with cheaper ticket prices. Read more…

More about Flight Time, Flight, Supersonic, Real Time Video, and Real Time

Startups?d=yIl2AUoC8zA Startups?i=_bBSqQwgKJ0:CbQ_p2f5Tb0:F7zBn Startups?d=qj6IDK7rITs Startups?i=_bBSqQwgKJ0:CbQ_p2f5Tb0:gIN9v

April 28, 2017 at 07:25PM

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from Nikolay Nikolov

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