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Ford Motor has appointed Sherry House, former CFO of Lucid Group, as its next CFO. House will join the company in June as vice president of finance and will transition to the CFO role in early 2025. She will succeed John Lawler, who will become vice chair. Ford's EV business is currently facing challenges due to slow demand in the industry, with the company projecting a loss of $5 billion to $5.5 billion this year. House's appointment comes as Ford aims to build a profitable EV business and generate new revenue streams. [Extracted from the article]

Canada has approved Royal Bank of Canada's $10.1 billion deal to acquire HSBC Holdings' Canadian unit. The deal, which is the largest-ever transaction in Canadian domestic banking, includes conditions related to employment levels, customer service, and financing for affordable housing. HSBC's sale of its Canadian unit is part of a broader restructuring to focus more on Asia and the Middle East. The deal is expected to close in the first quarter of 2024. [Extracted from the article]

A spokesman for Mr. Greensill said he proposed that Mr. Young play Mr. Hallows a recording of the meeting. Keywords: ahed; a-hed; greensill; england; wsjworld; Credit Types/Services; Banking/Credit; Financial Services; Corporate/Industrial News; Political/General News EN ahed a-hed greensill england wsjworld Credit Types/Services Banking/Credit Financial Services Corporate/Industrial News Political/General News N.PAG N.PAG 1 01/17/23 20230114 NES 230114 Yelling by villagers. At a Dec. 29 Saughall parish-council meeting, Chairman Marc Hallows said he believed Mr. Greensill had lied about donating money. [Extracted from the article]

The article discusses GE Capital, the financing arm of industrial conglomerate General Electric Co. If it were a standalone business, GE Capital would be the fifth-largest commercial bank in the U.S. For all of 2012 GE Capital is expected to have generated almost half of its corporate parent's profit. General Electric chief executive Jeff Immelt has sought to reduce GE Capital's risk by shedding assets.

The article discusses China's shadow-banking system. By one estimate financing provided by non-bank entities amounts to some 20 trillion yen. Special attention is paid to the risks posed to the country's banks by its shadow-banking sector, which is loosely regulated and marked by a lack of transparency.

The article presents an overview of the importance of a portfolio manager to financial firms and explores the impact the departure of a portfolio manager from a firm has on investors. A discussion of two studies which found that portfolio mangers who had been with a fund for a long time tended to deliver better returns than those managers who had only been with the funds for a short time, is presented.

The article focuses on a lawsuit which was leveled against UBS AG by investors in Wood River Partners LP, a hedge fund that collapsed in 2005. The investors claim that its prime broker, UBS AG, fraudulently earned more than $100 million by missing knowledge of the fund's trades. A discussion of the impact the suit could have on other Wall Street firms that provide services to investors is presented.

The article reports on an investigation into a rise which has been seen in the leverage and risk used by hedge funds and Wall Street financial firms that is being conducted by the Federal Reserve bank of New York, the U.S. Securities & Exchange Commission, and European regulators. A discussion of the findings of the investigation, which showed, among other things, that financial firms don't always get enough information from hedge funds to assess risk, is presented.

The article reports on the impact the purchase of Sallie Mae by the private equity firms JC Flowers & Co. and Friedman Fleischer & Lowe LLC. and two banks may have on the chances of private equity group takeovers at financial institutions including banks in the United States. A discussion of several financial companies that could be taken over including Countrywide Financial is presented.

The article reports on a 2003 decision by a task force within the National Association of Student Financial Aid Administrators to not implement new rules to curb illegal gifts from financial lenders to universities and colleges in the U.S. The rules had been considered by the task force because they sensed the need to monitor the relationship between financial aid offices and finance companies that were seeking student loan business.

The article reports on an increase in the number of U.S. financial firms including Lehman Brothers Holdings Inc. and Goldman Sachs Group Inc. on Wall Street who are seeking an expansion of their trading floors despite the presence of a very small office vacancy rate (7%) in Manhattan. A discussion of several properties which the firms are considering including those owned by Related Cos. and Brookfield is presented.

The article focuses on the role Wall Street financial institutions had on the demise of subprime lender New Century Financial Corp. New Century was one of several U.S. subprime lenders financed by Wall Street banks prior to an increase in defaults in mortgages which led to bankruptcies and Wall Street banks' decisions to terminate lending agreements with the companies. New Century had hoped that financing would save the company but bankers terminated their lending agreements with them.

The article reports on increased government scrutiny which is being placed on U.S. financial firms which offer college loans to students. The scrutiny comes as a result of corrupt behavior which has been seen within the firms. Many firms including Education Finance Partners Inc. have been accused of being involved with kickback schemes with colleges and universities. The companies have allegedly been paying schools to have their names on the schools' preferred lender lists.

The article reports on an increase in the number of private equity firms such as Apax Partners and TowerBrook Capital Partners that are investing in fashion design firms such as Tommy Hilfiger and Jimmy Choo. The equity firms have realized that sales of luxury goods worldwide are successful and have come to view the designer firms as a stable and profitable investment.

The article reports on the plans of Blackstone Group and its chief and co-founder Stephen Schwarzman to begin an initial public offering of 10% of the firm's core partnership. The effect the plans might have on other private equity firms is discussed. A discussion of Blackstone's finances and investments, which include the Celanese and Nielsen companies, is presented.

The article focuses on the plans of Goldman Sachs Group Inc. to invest heavily into a financially damaged subprime lending market in the U.S. Many financial lending institutions that specialized in offering mortgage loans have gone bankrupt or closed due to a large increase in defaults which were seen on their mortgage loans. Goldman plans to buy several of the companies at a low price and make a profit at a later date.

The article focuses on the growth and failure of New Century Financial Corp. The company is one of many U.S. mortgage lending firms that have been devastated in 2006 and 2007 by an increase in defaults on mortgage loans. New Century's defaults were related to loans which were given to subprime borrowers, those people with weak credit or high levels of debt. In March of 2007 the company's stock share prices had dropped 78% and analysts feel that the company is close to filing for bankruptcy.

The article focuses on the mortgage-finance company Fannie Mae, who has been accused by the Securities and Exchange Commission of "fraudulent accounting" practices. Former executives of the company may face legal action, according to regulators. James B. Lockhart discussed the companies corporate culture, and problems with former chief executive Daniel H. Mudd and others are discussed.

Reports that General Motors Corp., as part of several strategic moves, said it is exploring the sale of a controlling stake in its lucrative finance company - which would likely strengthen the unit's longterm prospects while producing a windfall for the auto maker. Potential for GM to get billions of dollars in cash to weather hard times by selling part or all of General Motors Acceptance Corporation; Importance of separating the finance unit from its parent's weak credit rating, which is a curb on growth; Description of GMAC as one of the world's largest finance companies; Expansion of the company into mortgage lending, real-estate services and home and auto insurance; Reference to GMAC as the big money maker for GM.

Reports that Citigroup Inc. is in discussion with Baltimore (Md.)-based Legg Mason Inc. about a plan that could reduce or end Citigroup's peddling of mutual funds created by its Smith Barney brokerage unit. Details of the asset-swap plan between the two companies; Conflict-of-interest concerns expressed by regulators regarding so-called financial supermarkets that offer products ranging from banking services to insurance to brokerage services; View that the financial services industry is beginning to dismantle the financial supermarket model, where the production of investment products and their distribution are under one entity.

Examines how the divestiture of Morgan Stanley's Discover Financial Services unit will affect the rest of the credit card industry. Potential impact on card associations such as Visa USA Inc., banks that issue cards, and companies that process transactions, including First Data Corp.; Details of Morgan Stanley's plan to spin off Discover to shareholders, which marks a reversal of the investment bank's strategy to keep the business in-house.

Reports that financial services companies are targeting Latinos as customers. Efforts of General Electric Co.'s financial unit, Citigroup Inc.'s Citibank and Freddie Mac to market to the Latino market; Number of Latinos living in the U.S., indicating they have rising incomes but under-utilize financial services; Statistics related to Latino stock ownership, and use of credit cards and bank accounts, suggesting their is a large potential market for Latinos looking to make their money work for them; Statistics related to Latino income and disposable income, according to the University of Georgia's Selig Center for Economic Growth; Comments from Eusebio Rivera, head of Hispanic Initiatives at Bank of America, regarding growth in the multicultural market.

Reports that Freddie Mac, one of the United States' government-sponsored mortgage-finance companies, ousted three of its top executives and questioned the 'cooperation and candor' of its chief operating officer. Reaction of investors to the news; Number of years worth of financial results Freddie Mac plans to reinstate, which will make its profits and capital bigger than previously reported; Importance of Freddie Mac to the rapid-growth of the mortgage-finance market, which has helped keep the housing market strong during weak economic times; Officers who were fired, asked to step aside, or pressured to resign including Leland Brendsel, David Glenn, and Vaughn Clarke; Cash value of assets for Freddie Mac suggesting it is a large and complex entity requiring more sophisticated management to steer the organization into the future.

Focuses on financial institutions that are investing their own money in risky investments. Discussion of Credit Suisse First Boston investments; Vehicles in which financial houses are investing including stocks, interest rates, currencies and commodities.

The article discusses that in December 2014 the U.S. Board of Governors of the Federal Reserve System internally identified fundamental weaknesses in key areas related to its own governance of the stress testing it conducts of financial firms.

In this article the author discusses aspects of market-based financing in the U.S., called shadow banking, focusing on the negative connotations associated with it, the economic impacts of market-based financing, and the need for regulations that don't undermine the shadow banking system.

The article reports on the increased activity in the bond market as corporate borrowers are eager to take advantage of strong investor sentiment.

The article deals with dubious information on mortgage refinancing in the U.S. available on the Internet. The author notes that advice from Internet resources funded by lending companies and mortgage brokers that link borrowers to banks can be harmful due to the risk involved. One of such dubious information is said to be the 1% rule for refinancing which has been cited in the lead-generation Web site Supermortgages.com. Another one is the standard break-even test, which the author says ignore important factors.

The article reports on the higher percentage of recovery among U.S. lenders in the new wave of defaults in 2010 than expected when compared to 2008 and 2009 according to Moody's Investors Service.

This article reports on the issuance of bonds by auto-finance companies in the U.S. in May 2010.

This article focuses on the financial-markets overhaul bill in the U.S. which includes a proposal to provide funds to pay for the orderly break-up of failing financial companies.

This article reveals the plan of the CBS Corp. reality television series "Undercover Boss" to feature a senior executive from a financial firm.