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Economy & Finances

Small enterprises: Commission campaign to support debt recovery across borders

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This is especially damaging in the current economic crisis, when going abroad to do business is no longer merely an option but in many cases has become an obligation to become more competitive. Therefore, the European Commission today kicked off a campaign to help SMEs recover debts across borders. The campaign will inform SMEs on how to take advantage of existing laws and tools in order to more easily and successfully pursue debtors in other countries. To this end events will be organized in all 27 EU Member States plus Croatia. The campaign i... Read More »

Citigroup declares preferred dividends

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8.125% Non-Cumulative Preferred Stock, Series AA, payable August 15, 2013, to holders of record on August 5, 2013. Holders of depositary receipts, each representing one-thousandth of a full preferred share, will be paid $0.5078125 for each receipt held. 5.950% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series A, payable July 30, 2013, to holders of record on July 19, 2013. Holders of depositary receipts, each representing one-twenty-fifth of a full preferred share, will be paid $44.79027778 for each receipt held. 5.90% Fixed Ra... Read More »

Employees, partnering with Bankers without Borders, volunteer to provide vital finance and business know-how to microfinance institutions

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A team of employees has been working on the nonprofit Grameen Foundation’s Mobile Technology for Community Health (MOTECH) initiative, a life-saving technology platform designed to reduce high infant and mother mortality rates in developing nations by disseminating information about health services to expectant mothers via their mobile phones, and encouraging  demand for vital services during women’s pregnancy and baby’s first year of life. When the developer was struggling to accurately assign a value to the platform – a stumbling block in ... Read More »

66,000 Citi volunteers mark company’s annual global community day with service activities in 95 countries

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Volunteerism is a central part of the Citi employee experience, with Citi volunteers regularly engaging in community service year-round. Global Community Day spotlights and reinforces a shared commitment among Citi employees, clients, alumni, family and friends around the world to collaborate and dedicate their time and expertise to local community needs, including literacy and education, housing, environmental stewardship, health and human services, and disaster relief. Last year’s Global Community Day on June 16, 2012, was a cornerstone of... Read More »

Boeing to release second-quarter results on July 24

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Chairman, President and Chief Executive Officer Jim McNerney and Executive Vice President and Chief Financial Officer Greg Smith will discuss the results and company outlook during a conference that day at 10:30 a.m. Eastern Time. Visit http://www.boeing.com/companyoffices/financial/ to access a link to the live broadcast of the conference. A Boeing news release will also be available on that site. Individuals should check the website prior to the session to ensure their computers can access the audio stream and slide presentation. Instru... Read More »

POSPartner supports Yapital at the Point of Sale

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A few weeks prior to the launch of its first European cross-channel payment system, Yapital announced that it will also be collaborating with POS systems company POSPartner to integrate the new payment solution at the point of sale. The innovative software provider, based in Königswinter, has been a valued partner, providing specialist solutions to medium-sized and large retailers for two decades. The expertise and excellent customer structure of the owner-managed company will enable Yapital, a wholly owned subsidiary of the Otto Group, to intr... Read More »

Rabobank: Global demand orange juice declines; Brazilian market hit with consequences for pricing

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Andres Padilla, Rabobank analyst commented: “The Brazilian orange juice sector is heavily dependent on exports, with the country accounting for 80 percent of all the global export market. This makes it especially vulnerable to changing demand in the key export markets of Europe and North America, which are currently witnessing a consumer shift towards less expensive drinks with lower sugar and acidity content. "This shrinking global demand combined with large Brazilian orange crops in 2011 and 2012 has led to record high stocks of frozen conce... Read More »

Inflation up to 2.8 percent

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According to the most recent figures released by Statistics Netherlands, the inflation rate has risen to 2.8 percent in May. In April, consumer prices were on average 2.6 percent up from one year previously. The inflation increase was predominantly due to higher petrol prices. Although petrol prices were 1.9 percent lower in May 2013 than in May 2012, the price drop in April was no less than 3.7 percent on an annual basis. Food and holiday prices also had an upward effect on inflation in May. Due to the cold weather conditions in spring, pr... Read More »

Rabobank: Bottom in sight for housing market

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In February and March of this year, the prices of existing owner-occupied homes rose by 2.1 and 0.1% respectively compared to the preceding month. But those growth figures were not sufficient to offset the decrease seen in January (-2.9%). Averaged across the first quarter, the prices of existing owner-occupied properties (PBK Price Index of Existing Houses) fell 2.3% overall com­pared to the previous quarter. The start of the second quarter of 2013 has been less promising: prices declined by 1.4% in April compared to March. This makes for a 19... Read More »

ING announces exercise of underwriters’ option to acquire additional shares in ING U.S.

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The gross proceeds to ING Group from the exercise of the option will be approximately USD 191 million (approximately EUR 148 million at current exchange rates), bringing the total gross proceeds to ING Group from the IPO of ING U.S. to approximately USD 0.9 billion. As previously announced, ING Group intends to use these proceeds for the reduction of Group core debt. ING U.S. shares started trading on the New York Stock Exchange on 2 May 2013, under the ticker symbol “VOYA”. The exercise of the option will not impact the profit and loss accoun... Read More »

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