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Fintech Group merges its current five affiliated companies into two

Wednesday, 1 Mar 2017 02:15am EST

Fintech Group AG : Fintech group plans to leverage further synergies by merging its five operating companies (Fintech Group AG, flatex GmbH, biw AG, XCOM AG, and ViTrade GmbH) into just two companies over coming months . Online broker flatex and ViTrade to be merged into biw AG, with new entity rebranded as Fintech Group Bank AG . IT-Systems provider XCOM AG to be merged into Fintech Group AG . Creating further synergies by merging its current five affiliated companies into two: a financial services entity and a tech entity will result in a reduction of annual operating expenses in order of a seven-digit euro sum .Considers to raise its 2017 guidance upon publication of annual financial report 2016 by April at latest.

Charles Schwab posts CFO commentary regarding recent price reductions

Tuesday, 28 Feb 2017 03:38pm EST

Charles Schwab Corp : Charles schwab posts cfo commentary regarding recent price reductions . Charles schwab -plan for the year uses same assumptions for equity market returns and client trading activity, but allows for fed rate hike at mid-year . Charles schwab -plan for the year also includes pricing moves akin to latest announcement along with some incremental reinvestment in the business .Charles schwab - importantly, co's basic guidance about using benefits of incremental rate hikes remains in effect.

China Merchants Securities updates on proposed restructuring

Friday, 24 Feb 2017 06:59am EST

China Merchants Securities Co Ltd <600999.SS> : Informed by CMG that it agreed to transfer its 90% equity interest in CM Finance, 49% in Yan Qing Investment and 10.55% in CM HK to CM Steam . CM Steam will become an intermediate controlling shareholder of company .CMG being China Merchants Group Limited and CM Steam being China Merchants Steam Navigation Co., Ltd.

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