International

Hertz Dayim Equipment Rental, APR Energy Sign Agreement

Hertz Dayim Equipment Rental and APR Energy have announced a partnership agreement to develop business for fast-track power solutions in the Kingdom of Saudi Arabia. read more

Euro-Area to Shrink More Than Previously Estimated

Bloomberg reported that the euro-area economy will shrink more than previously estimated in 2013 as part of a two-year slump that has pushed up unemployment to a record. read more

Lessors to Face Hurdles to Recover Kingfisher Jets

The Oman Tribune reported that Indian airports have claimed international law must take a back seat to local courts in a dispute with foreign aircraft leasing firms over the future of grounded Kingfisher aircraft. read more

Leasing Foundation Launches Women in Leasing Initiative

The Leasing Foundation said Mary McNamara, CEO of Close Brothers' commercial division, will lead the organization's Women in Leasing Initiative. read more

China’s Leasing Industry Growth Rate 67%

According to a new market research report, in 2012, the business turnover of China’s financial leasing was about $250 billion compared to $150 billion at the end of 2011, a growth rate of 67%. read more

Diversity Advisor Joins Leasing Foundation

The Leasing Foundation said Stephanie Strickland has joined the organization as an associate advisor for the Foundation's Women in Leasing diversity initiative. read more

UK Banks Need to Step Up Pace of Asset Sales

The Wall Street Journal reported the Bank of England warned UK banks they must come up with $38 billion fresh capital, putting pressure on RBS and Lloyds to step up the pace of asset sales. read more

FSA Finalizes New Rules for Financial Benchmarks

The Financial Services Authority said it has finalized new rules and regulations for financial benchmarks that should help restore the trust that has eroded by the LIBOR scandal. read more

India High Court Supports Departure of ILFC’s First Aircraft

International Lease Finance announced the successful removal of its A321 aircraft from India following Delhi’s high court decision to allow the departure of the aircraft that was on lease to Kingfisher Airlines. read more

Bloomberg: Caterpillar's Chinese Lessons

Bloomberg reported that Caterpillar’s performance in China seems to be floundering noting that although the company opened a Beijing office in 1978, Cat’s current market share in China is only about 7%. read more

Leasing Foundation Sets Date for First Conference

The Leasing Foundation will hold its first conference on September 30, 2013. Chris Sullivan, chief executive of the RBS Corporate Banking Division, will open the event. read more

WSJ: UK Financial Services Authority Slow on LIBOR

The Wall Street Journal reported that the UK Financial Services Authority published a critique of its own handling of the LIBOR scandal, saying it failed to act on a series of warnings that banks were trying to manipulate rates. read more

RBS, Barclays to Recoup LIBOR Fines from Employees

Bloomberg reported that RBS will recoup $458 million from employees by cutting its bonus pool and clawing back compensation following its fine for rigging LIBOR. Reuters says Barclays plans to cut or claw back $680 million to recoup its losses. read more

Rabobank Faces LIBOR-Rigging Fine of $440MM Plus

Bloomberg reported that Rabobank faces a fine of more than $440 million for manipulating LIBOR interest rates as global regulators seek to increase the $2.5 billion in penalties already levied in the rate-rigging scandal. read more

BBA Moves to Relinquish Role in Rate Setting

Sky News reported that the BBA moved a step closer to relinquishing its role in setting interbank borrowing rates as regulators seek to restore their credibility following the LIBOR scandal. read more

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Terry Mulreany
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