Word: lender
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Manufacturers Hanover Trust, the fourth largest U.S. bank, last week became the first major lender in four years to lower its credit-card rate. The New York institution trimmed the charge from 19.8% to 17.8% for Visa and MasterCard accounts and other revolving credit lines. "We saw it as a significant marketing opportunity," said Edward Miller, executive vice president for retail banking. The bank hopes to woo customers from its rivals with the lower rate...
...World Bank is a position that has not received much attention in recent years, but under the Baker plan for dealing with Third World debt, it could take on far greater importance. Accordingly, after A.W. Clausen announced last week that he will step down as head of the global lender, speculation began almost immediately over who might succeed him. The post has traditionally been held by an American, and the opening could lead to an intriguing round-robin job shuffle...
...decision upheld the so-called New England Compact, which allows mergers across state lines by banks in the region. With the court's verdict, Bank of Boston (1984 assets: $22.1 billion), New England's No. 1 lender, will now acquire Colonial Bancorp of Waterbury, Conn. (assets $1.5 billion), and RIHT Financial Corp. (assets $2.3 billion) of Providence for about $200 million. Said a disappointed Hans Angermueller, vice chairman of Citicorp (assets $150.1 billion), which led the legal fight against the regional pact: "Banking is the only industry that still enjoys local protection...
...chances are that the pendulum of excess will swing back again. What put an end to Prohibition in 1933 was not so much that it was unworkable and unenforceable. According to some historians, it lowered U.S. drinking as much as 50%. A main reason for repeal, write Authors Mark Lender and James Martin in Drinking in America, was "popular disgust with the rigidity of temperance advocates . . . their all or nothing posture...
...wire service's latest crisis came when Foothill Capital Corp., a Los Angeles-based finance company and U.P.I.'s principal lender, refused to advance the cash needed for last Friday's payroll. U.P.I. officials insisted that the Chapter 11 petition had been considered for "several months." Nonetheless, the wire service carried a story quoting unidentified sources who said that Foothill was unhappy with the Wire Service Guild's refusal to renegotiate a labor contract and make new wage concessions. One U.P.I. official said the California company was also upset to learn two weeks ago that U.P.I. had failed...