Citibank announced a new, late-day sweep service to complement its offering of investment and liquidity products for corporate treasury management. With the new program, available balances are swept from the customer’s Citibank New York account at 4:45 pm EST daily and invested – on a same day basis – into CitiFundsSM Institutional Cash Reserves. Excess balances remain fully invested until they are needed to cover overdrafts in the customer’s operating account – at which time they are redeemed. This late-in-the-day timing enables treasurers, especially those situated on the West Coast U.S., to capture more of their true daily cash position.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.