On Monday, Fifth Third Bancorp (NASDAQ:FITB)’s shares inclined 0.93% to $21.09.
The Fifth Third Bancorp board of directors declared that Greg D. Carmichael, current president and chief operating officer, will become president and chief executive officer effective November 1, 2015. Carmichael was also elected to the board, effective right away.
Carmichael will succeed Kevin T. Kabat, who has informed the board of his intention to retire. Kabat has served as CEO since April, 2007, and he will remain executive vice chairman of the board until his retirement in April 2016. His career comprised of 33 years of combined service at Fifth Third and a predecessor.
Fifth Third Bancorp operates as a diversified financial services company in the United States. It operates through four segments: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. The Commercial Banking segment offers credit intermediation, cash administration, and financial services; lending and depository products; and foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers. The Branch Banking segment provides a range of deposit, loan, and lease products to individuals and small businesses.
The Western Union Company (NYSE:WU)’s shares gained 0.32% to $19.09.
The Western Union Company (WU), a leader in global payment services, recently declared that it has signed a contract to activate Western Union Money Transfer® services within WHSmith high street stores via Western Union’s innovative self-service kiosks. The deal brings Western Union services to existing and new groups of digitally savvy consumers from even more convenient locations.
This new agreement will allow Western Union’s digital self-service kiosks to be accessible at 300 WHSmith stores. Customers can simply enter their transaction details at the kiosks and then proceed to a WHSmith self-checkout to pay for their money transfer. These digital transactions are paperless, provide digital compliance verification and enable efficient check-outs.
The Western Union Company provides money movement and payment services worldwide. The company operates in three segments: Consumer-to-Consumer, Consumer-to-Business, and Business Solutions. The Consumer-to-Consumer segment offers cash money transfer services involving walk-in agent locations. This segment provides various options for sending and receiving funds, counting walk-in and telephone money transfer, online money transfer, and account based money transfer services through a network of third-party agents using multi-currency and real-time money transfer processing systems. The Consumer-to-Business segment offers options to make one-time or recurring payments from consumers to businesses and other organizations, counting utilities, auto finance companies, mortgage servicers, financial service providers, government agencies, and other businesses. It also provides various products, which give consumers choices as to the payment channel and method of payment, counting Speedpay, Pago Fácil, and Western Union Payments. This segment offers its services primarily through the phone and Online, in addition to through its agent networks and selected company-owned locations.
Ericsson (ADR) (NASDAQ:ERIC), ended its Monday’s trading session with 0.38% gain, and closed at $10.52.
Ericsson (ERIC) continues to spearhead 5G system development as coordinator of the new METIS-II EU project to develop the overall 5G radio system design and roadmap recommendation for 5G standardization.
On a strategic level, METIS-II will provide the 5G collaboration framework within the 5G Infrastructure Public Private Partnership (5G-PPP) for a common evaluation of 5G radio access network concepts and a recommended 5G spectrum roadmap. It will also lead to the preparation of concerted actions toward regulatory and standardization bodies.
The project centers on a strong international consortium, consisting of 23 partners from all regions with strong 5G R&D initiatives (China, the EU, Japan, South Korea and the US) and involving most of the major international vendors, major operators, and key researchers.
Ericsson provides communications technology and services worldwide. The company’s Networks segment delivers products and solutions for mobile access, Internet protocol (IP) and transmission networks, core networks, and cloud. This segment offers radio access solutions; IP routing and transport solutions; transmission/backhaul solutions comprising microwave and optical transmission solutions for mobile and fixed networks; IP multimedia subsystem solutions; and operations support systems, in addition to supports operators administration of existing networks. Its Global Services segment delivers managed services, such as services for designing, building, operating, and managing networks or solutions; maintenance; network sharing solutions; shared solutions; and managed services of IT environments, in addition to provides broadcast and media services.
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