The News Review:
- Financial News: Lloyds’ Wealth & Asset Management Pft Halves
- BofA Executive’s Future in Doubt
- ABB to consolidate network management unit in Sugar Land
- Judge usts SC Management From Chapter 11 Control
Financial News: Lloyds’ Wealth & Asset Management Pft Halves
Wall Street Journal
Lloyds said gross revenue from interest margins was down 13% to GBP198 million: the division suffered a GBP2. 6 billion outflow in deposits. Revenue in other areas fell 11% to GBP490 million principally due to lower fees from asset management as a result of lower market values. The profits fall was relatively unimportant compared to the UK bank’s overall.
Related from Inkfeenz: Lloyds Chmn: Signs Stability Returning To Bk Sector
BofA Executive’s Future in Doubt
Wall Street Journal
–>BofA Executive’s Future in Doubt ArticleCommentsmore in. executive in charge of private-banking unit U. Trust and asset manager Columbia Management cast doubt on his future at the bank by telling employees earlier this week that he will stay in his current job for an undetermined transitional period.
ABB to consolidate network management unit in Sugar Land
Bizjournals.com
The move involves the transfer of 40 positions from its North American headquarters office in Cary N. and puts ABB’s power distribution management business at one site. ABB provides power and automation technologies used by electric utilities to monitor and control local power grids including advanced applications designed to improve system reliability and efficiency.
Judge usts SC Management From Chapter 11 Control
Wall Street Journal
–>Judge usts SC Management From Chapter 11 Control ArticleCommentsmore in. from control of the company’s bankruptcy saying SC has been “waiting for ‘the dough’” from a losing battle with Novell Inc. Judge Kevin Gross made his decision Wednesday after squashing SC’s third attempt to sell itself on suspicion the deal was a ploy to avoid having the company’s Chapter 11 bankruptcy case shut down. SC General Counsel Ryan E.