PermRock Royalty Trust completes the sale of underlying oil and gas properties to T2S Permian Acquisition II, with Boaz Energy assisting in the transition. Boaz Energy also sold 4,884,861 Trust units to Ustx LLC, a subsidiary of T2S Permian. Argent Trust Company will continue normal administration.
Barclays Shares Experience Significant Surge Following Tariff Changes
In a remarkable turn of events, shares of Barclays surged by over 20% at the market open, eventually stabilizing at a 15% increase. This rebound reflects a broader recovery in the FTSE...
SVB's collapse on 10 March 2023 led to a FDIC lawsuit against 17 executives for negligence. Credit Suisse's leaders faced no such accountability, highlighting regulatory differences. SVB is criticised for its reliance on long-term government bonds and an imprudent £294 million dividend.
Sterling Bancorp (NASDAQ: SBT) completes the $261 million sale of Sterling Bank and Trust to EverBank Financial, effective April 1, 2025. All branches except Michigan will transition to EverBank, and Sterling will file for dissolution and delist from Nasdaq. Four directors have resigned.
PwC fined £4.5m (reduced to £2.9m) by the FRC for audit failures at Wyelands Bank, owned by GFG Alliance. The fines stem from inadequate understanding of lending practices and related-party risks, despite PRA warnings. PwC acknowledges the issues and is committed to improving audit quality.
SAIB (UK), a Lloyd’s broker, has secured a trading seat at the Shanghai International Reinsurance Exchange (SIRE), enhancing market transparency and efficiency. This move strengthens SAIB (UK)'s global presence and cross-border reinsurance capabilities.
