DAYTON, Ohio - (07/28/06) -- ATM maker NCR Corp. reportedThursday that net income for its second quarter plunged by 39% to$78 million, or 43 cents a share, compared to the same period lastyear when the company was able to report a $64 million gain fromresolution of a tax issue. Second quarter revenues rose 4% to $1.53billion, fueled by strong sales in the company's Teradata datawarehousing, financial and retail segments. For the first sixmonths of the year, NCR reported a 24% drop in earnings to $119million, or 66 cents a share, from the first half last year.Revenue growth was flat, with roughly $2.8 billion in revenues forthe first half last year and this year.
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Firms like Brex and Ramp are adding new tech faster than legacy banks, according to payment experts.
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The Office of Management and Budget issued reduction in force notices to Treasury staff working in the Community Development Financial Institution office Friday, saying that the layoffs are necessary to "implement the abolishment" of the fund.
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Former City National CEO Kelly Coffey has a new venture in wealth management; Erin Siegfried is Northwest Bancshares' new chief legal counsel and corporate secretary; Flagstar Bank secures OCC approval to merge its holding company into the bank; and more in this week's banking news roundup.
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The regional bank has launched a digital student banking center that's part of a broader strategy to focus on relationship-building.
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The Consumer Financial Protection Bureau has announced job openings for attorney-advisors to represent the agency in defensive and appellate litigation.
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An updated deposit insurance reform bill from Sens. Bill Hagerty, R-Tenn., and Angela Alsobrooks, D-Md., would raise deposit insurance for business accounts to $10 million, exclude the largest banks from coverage and insulate community banks from footing the bill.
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