After concluding a successful pilot phase with both BP Amoco and a Chevron Joint Venture (Tengizchevroil), Citibank is making a new service – Automated London-to-New York Target Balancing — available to its corporate customers worldwide. The new London-to-New York Target Balancing service allows customers to automatically move end-of-day US dollar balances in their London-based dollar accounts to New York-based US dollar accounts with same day value. Customers are able to specify a ‘target balance’ (which may be zero or other amount) such that funds will automatically be moved from London to New York to achieve their specified target balance. Either a debit or credit balance may be moved.
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.