India's ICICI Bank tanks on probe reports

Shares of ICICI Bank (NYSE:IBN) fell sharply on Monday on the back of reports that Indian federal investigators had launched a preliminary inquiry into its lending practices. The bank's American Depositary Receipts closed 7.5% lower to $8.19 on Monday. India's Central Bureau of Investigation (CBI),
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“This case is a reminder that every merger review is highly fact specific and I would caution anybody against reading too much into any one decision,” Jonathan Grossman, an antitrust partner at Cozen O'Connor, said in an interview with Bloomberg News. In the Spectrum/Energizer scenario, he added,
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Jessica Francisco, a JPMorgan spokesperson, confirmed the news of Baldet's departure in a statement to Fortune. “Amber is extremely talented and helped build the outstanding team we have today. We respect her desire to start her own venture and we wish her nothing but the best,” the statement said.
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It does not have a large real estate franchise that represents the downtown. The office is like my dream for the last 25 years. … I love the downtown. This is exactly what I want. It made me cry.” A ribbon cutting for the new office is scheduled for 3 p.m. April 26. And May 10 will be the company's RED day,
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The American Bankers Association today named Paul Benda as SVP for risk management policy. In this role, he will lead ABA's policy efforts on cybersecurity, physical security and risk management practices. Benda joined ABA from Global Security and Innovative Strategies, where he was a partner and
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An improved Colorado Springs economy helped propel buyer demand for new homes during the first quarter. Building permits issued for single-family homes in El Paso County totaled 970 during the first three months of the year, a 22.2 percent increase over the same period last year, says a Monday
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Real estate economists and professionals are expecting a continued run-up during this year's peak summer moving season. “We're just not doing anything to keep up with it on the supply side,” said Chris Salviati, housing economist with Apartment List. The rising prices come as the long-running
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A pair of the nation's largest banks, Citigroup and Wells Fargo, made changes to their mortgage banking executive teams. Citigroup promoted David Smith to chief operating officer of its newly combined U.S. retail banking and mortgage businesses. In February, Citi announced it is integrating its
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Drew Schaul, one of the leading retail real estate professionals in the Miami market, has returned to CBRE after a seven-year stint at Robert K. Futterman & Associates. At RKF … This came despite the fact that the completion of 712,000 sq. ft. of new shopping center space fell well below current trends.
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Recently, the bank moved completely away from mortgage servicing and scaled back its lending operation, but earlier this year, the bank announced that it entered into an agreement with Digital Risk and Black Knight to form its new single digital mortgage origination platform. The move was seen as an
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The Mortgage Collaborative network is more than 130 lenders strong, with an aggregate annual origination volume of over $220 billion. The lender network is supported by a preferred partner network of organizations that specialize within each facet of the mortgage life cycle. The Mortgage Collaborative
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CAIRO – 2 April 2018: Minister of Investment, Sahar Nasr, launched the National Strategy for Non-banking Financial services 2018-2022 with a main purpose to create a non-banking sector that is conducive to the sustainable growth and supports the financial inclusion, according to chairman of
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Amber Baldet is departing “to pursue an entrepreneurial opportunity” and will be replaced as head of the Blockchain Center of Excellence by Christine Moy, according to a memo from JPMorgan's Umar Farooq. “Amber is extremely talented and helped build the outstanding team we have today,” said
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Despite progress in some communities, homeowners in certain 55-and-over developments face barriers to reverse mortgage and other Federal Housing Administration-backed products — and one group is fighting back with an educational campaign and an organization designed to encourage
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The real estate market, including the rental market, is all about location, location, location, which makes Pruitt's prowess as a tenant impressive. With such skills navigating the rental market, finding and securing a $50 per night deal in a great part of Capitol Hill, it is not surprising that another person
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Bitcoin investing is popular in Japan, but the nation has also had several high-profile cryptocurrency heists. Now, the central bank has come up with a rather negative Q&A for those seeking answers on cryptos. The page is called “Let's think about cryptocurrencies!” and was released on a financial
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22 in a memo seen by Bloomberg News. UPS acknowledged it's hiring outside contractors, declining to identify the companies. The courier said it was leasing planes to be flown by UPS crews and also having third parties fly their own planes on the company's behalf. Western Global, based in Estero,
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“This is definitely a flight to safety type of market,” Peter Jankovskis, co-chief investment officer at Oakbrook Investments, told Bloomberg News. “You're seeing people coming out of the stocks that had been performing well. There'd been various stories that momentum was extended in the market place,
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Reno Air Racing Association (RARA) is pleased to announce Stihl Inc. has extended its sponsorship contract as Title Sponsor for the 2018 and 2019 National Championship Air Races as well as the airing of the NBC Sports episodes of the races in 2019 and 2020. The 55th annual Stihl National
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New federal regulations mean fewer commercial real estate-related loans will require an independent, certified appraiser to weigh in on a property's value before a bank can lend against it. An inter-agency group of regulators decided on Monday to raise the threshold for commercial real estate deals that
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