Shares of Paypal Holdings Inc (NASDAQ:PYPL) ended Friday session in red amid volatile trading. The shares closed down -0.42 points or -1.04% at $40.07 with 6.23 million shares getting traded. Post opening the session at $39.60, the shares hit an intraday low of $39.60 and an intraday high of $40.49 and the price vacillated in this range throughout the day. The company has a market cap of $48.60 billion and the numbers of outstanding shares have been calculated to be 1.21 billion shares.
On Sept. 6, 2016 PayPal announced the appointment of Paul Parisi as the new general manager of PayPal Canada. Paul is a results-focused Canadian leader who joins PayPal with a strong record of more than 17 years in the payments industry.
As general manager, Paul will be focused on building on the company’s successful 10-year history in Canada and driving the next phase of growth for the company and its customers. He will play a critical role in bringing innovations to market and further solidifying PayPal as one of the leading online and mobile payment services in Canada.
“The e-commerce, payments and fintech industries are at an exciting juncture in Canada. I look forward to driving even more profitable growth for PayPal in Canada and adding greater value for our 6.4 million active customers in Canada, which includes 250,000 small business customers across the country,” said Paul Parisi, the new general manager of PayPal Canada.
Parisi was previously vice president and general manager of global commercial payments at American Express Canada. During his tenure at American Express, he developed and drove business strategy for corporate payments and small business services and held a number of key leadership positions across sales, account management, e-procurement and travel in Canada, the U.S. and the U.K.
Shares of BB&T Corporation (NYSE:BBT) ended Friday session in red amid volatile trading. The shares closed down -0.27 points or -0.71% at $37.87 with 6.22 million shares getting traded. Post opening the session at $38.03, the shares hit an intraday low of $37.87 and an intraday high of $38.41 and the price vacillated in this range throughout the day. The company has a market cap of $30.74 billion and the numbers of outstanding shares have been calculated to be 814.50 million shares.
BB&T Corporation (BBT) on Sept. 15, 2016 announced that its subsidiary, Branch Banking and Trust Company (Branch Bank) has entered into an agreement with the Federal Deposit Insurance Corporation (FDIC) that terminates the loss share agreements between Branch Bank and the FDIC. The loss share agreements were entered into during 2009 in connection with the acquisition of selected assets and liabilities of Colonial Bank in an FDIC-assisted transaction.
BB&T’s Chairman and Chief Executive Officer Kelly S. King said, “We’ve enjoyed a successful partnership with the FDIC. The transaction significantly strengthened BB&T’s franchise in important markets and benefitted the communities, clients and associates of Colonial Bank, as well as BB&T’s shareholders.” Under the terms of the agreement, Branch Bank will make a cash payment of $230 million and the FDIC will no longer share in future benefits related to these assets.
“The acquisition of Colonial was a tremendously successful transaction and has far outperformed our initial expectations,” said BB&T’s Chief Financial Officer Daryl N. Bible. “The early termination of these agreements is beneficial for both BB&T and the FDIC, including the reduction of costs and accounting, reporting complexity and increased future earnings.”