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After the messy collapse of MF Global on Oct. 31 and the disappearance of the customer cash, clients received only 72 percent of their money.
The bakery, in fact, had two lines — one for those paying with debit cards, the other for cash clients.
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The apartment is now in contract with an all-cash client who is represented by Martine Capdevielle, a vice president of Sotheby's International Realty.
Selling inventory fast enough to pay vendors with cash from clients turns out to be a very capital-efficient model.
The remaining standalone investment banks, Morgan Stanley and Goldman Sachs, haemorrhaging cash as clients run for the exit, engage in an increasingly surreal series of mating dances with various commercial banks, before finding temporary salvation by turning themselves into bank holding companies.
REUTERS Lawyers Score Even When Plaintiffs Lose | Faruqi & Faruqi, a New York law firm specializing in shareholder lawsuits, typifies a trend: it generated $6 million in fees from 10 cases that produced no cash for clients, Bloomberg Businessweek writes.
See articleUBS reported that its wealth-management business netted SFr1 billion ($1 billion) in new money in the third quarter, after several quarters during which it recorded steep outflows of cash as clients withdrew their funds.
Settlement systems — used by brokerage firms, banks, insurance companies, and pension and mutual funds — are the core of the financial infrastructure and responsible for concluding financial transactions through transfers of securities and/or cash into clients' accounts.
But the crown jewel of his domain has long been Stanford International Bank, an offshore institution that attracted billions of dollars of cash from clients around the world — and especially from Latin America — seeking a haven for their wealth.
If you had gone to cash, our clients would have missed an incredible January, so you made the right call.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com