| FTSE lacks conviction
Leading shares have failed to hold onto early gains in London. By lunchtime, the FTSE100 index was up 20.7 points at 6,482.1, having been 50.7 points higher at one stage. Mid-cap stocks also lack conviction, and the FTSE250 index is up just 10 points at 11,324. Trading volume is weak at �701m. .
Oritani Financial Corp. (MHC) to Acquire Greater Community Bancorp
WASHINGTON TWP, N.J. and TOTOWA, N.J., Nov. 14 /PRNewswire-FirstCall/ -- Kevin J. Lynch, Chairman, President and CEO of Oritani Financial Corp. (Nachrichten) (MHC) ("Oritani") the holding company for Oritani Savings Bank, announced that Oritani has entered into a Merger Agreement providing for the acquisition of Greater Community Bancorp (Nachrichten) ("Greater Community") by Oritani. Greater Community is the holding company for Greater Community Bank. Under the terms of the Merger Agreement, Greater Community shareholders will be entitled to receive $21.40 per share or $187 million in aggregate deal value. The consideration mix will be 60% stock and 40% cash. The exchange ratio for the stock consideration will equal $21.40 divided by the Oritani market value as defined in the Merger Agreement, provided that the exchange ratio shall not be more than 1.4588 or less than 1.1935.
Taxing time for SMEs
NEARLY a third of small business owners in Scotland do not know what they will be paying in corporation tax this year, according to a new report. Bank of Scotland's business banking sector found that much of the confusion stems from recent changes to the tax regime. This article: http://business.scotsman.com/index.cfm?id=1283242007 Last updated: 14-Aug-07 12:19 BST .
The HBOS merry-go-round
THIS is becoming a habit. Step right up for the HBOS banking group boardroom carousel. The bank's latest managerial shake-up has a sense of deja-vu about it. In March 2005 the Halifax/Bank of Scotland group's finance director Mark Tucker quit after less than a year in post to become chief executive at Prudential. Just months later current HBOS chief executive Andy Hornby was appointed chief operating officer at the company, highlighting his steady rise through the ranks. The then-chief executive, 49-year-old James Crosby, indicated at the time that he himself planned to remain in the saddle for quite some time yet. But Crosby changed his mind in under six months and said he was leaving in the summer of 2006, with Hornby, aged 39, anointed as chief executive-designate.
Confluence Names David M. Moore Vice President Seasoned Financial Services Executive to Lead Client Services Operations
Confluence, a leader in automated data management solutions for the global investment management industry, announced today that it has hired David M. Moore as Vice President of Client Services. With more than 24 years of dedicated financial services technology experience, Mr. Moore will be responsible for overseeing Confluence's client services and professional services operations. (PRWEB) July 28, 2007 -- Confluence, a leader in automated data management solutions for the global investment management industry, announced today that it has hired David M. Moore as Vice President of Client Services. With more than 24 years of dedicated financial services technology experience, Mr. Moore will be responsible for overseeing Confluence's client services and professional services operations.
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