| NYSE to Suspend Trading in TOUSA Securities; Company to Appeal the Decision
HOLLYWOOD, Fla., Nov. 16, 2007 (PRIME NEWSWIRE) -- TOUSA, Inc. announced today that NYSE Regulation Inc. (``NYSE Regulation'') informed the Company that its common stock and debt securities will be suspended on Monday, November 19, 2007 prior to market open. The Company is currently making arrangements for its common stock and debt securities to be traded on alternate markets. .
Banner Corporation Reports Third Quarter Profits of $10 Million; Loans Increase 25 Percent and Deposits Increase 31 ...
WALLA WALLA, Wash., Oct. 25, 2007 (PRIME NEWSWIRE) -- Banner Corporation (NasdaqGS:BANR - News), the parent company of Banner Bank and Islanders Bank, today reported that substantial loan and deposit growth, both internal and through acquisition, as well as a substantial net change in the value of financial instruments carried at fair value, contributed to higher third quarter profits. In the quarter ended September 30, 2007, net income was $10.0 million, or $0.64 per diluted share, compared to $8.0 million, or $0.65 per diluted share, in the third quarter of 2006. For the first nine months of this year, net income increased 3% to $24.9 million, or $1.73 per diluted share, compared to $24.2 million, or $1.98 per diluted share, in the first nine months of 2006. .
Commentary>All companies to disclose management of risk
Accounting standard IFRS 7 brings transparency to financial statements. It is a common myth that the accounting standard on Financial Instruments: Disclosures, or IFRS 7, is relevant to financial institutions only. It applies to all entities, financial and non-financial. The extent of disclosure, however, will be driven by the entity's use of financial instruments and exposures to risk. IFRS 7, which became effective January 1, is now the comprehensive standard on financial instrument disclosures. It consolidates and expands a number of existing reporting requirements and adds some challenging new disclosures. And, it replaces the disclosure requirements previously contained in: IAS 30 - Disclosures in the Financial Statements of Banks and Similar Financial Institutions (now withdrawn); and IAS 32 - Financial Instruments: Disclosure and Presentation (now renamed Financial Instruments: Presentation).
Virgin Money set to take over mortgage firms
VIRGIN Money has revealed it is in talks for the possible takeover of two mortgage distributors in Australia and has flagged that it wants to talk to more, as it attempts to build scale in its credit card and lending businesses. Chief executive of Virgin Money Australia David Wakeling said yesterday that one acquisition could involve a purchase price of several tens of millions of dollars while the second would be smaller, around several million. "There's recognition in Virgin that financial services is a scale game," Mr Wakeling said, "and we want to build our scale to be more competitive. It's the same realisation that underlies Richard Branson's attempts to rescue Northern Rock in the UK." The struggling British mortgage lender is under offer from Richard Branson, the swashbuckling founder of everything from airlines to health clubs and cosmetics to clothing, all under the Virgin Group brand.
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