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2024-11-04 | Bloomberg | Sun Life May Sell Other Businesses After Unit Sale to Berkshire Hathaway | Sun Life Financial Inc. , which agreed last week to sell a reinsurance business to Warren Buffett ’s Berkshire Hathaway Inc., may sell other operations, Chief Executive Officer Donald Stewart said. “There are areas that we’ve seen as having less growth potential,” said Stewart, who turns 64 this week. “To the extent th... |
2024-11-04 | Bloomberg | Manulife Posts Biggest Rise in Seven Months on Gains | Manulife Financial Corp. had its biggest gain in almost seven months after the insurer reported third-quarter results that were better than some analysts expected as equity markets rallied. The third-quarter net loss widened to C$947 million ($945 million), or 55 cents a share, from C$172 million, or 12 cents a year ea... |
2024-11-04 | Bloomberg | Harper Rejection of BHP Bid for Potash May Hurt Canada's Pro-Trading Image | The Canadian government’s rejection of BHP Billiton Ltd. ’s $40 billion bid for Potash Corp. of Saskatchewan Inc. may hurt the country’s pro-trade image, deter foreign investors and penalize companies investing overseas. Canada blocked the bid by BHP, the world’s largest mining company, because the proposed takeover do... |
2024-10-18 | Bloomberg | Sun Life’s Mecca Pilgrims Drive Growth: Corporate Canada | Dyah Apsari, a 55-year-old Indonesian woman in Saudi Arabia this month for Hajj, is the kind of customer Sun Life Financial Inc. (SLF) is betting on for the insurer’s expansion in Asia. Hajj, the religious pilgrimage required of all Muslims, cost Apsari about $8,000, half of what she and her husband earn in a year. Sun... |
2024-10-17 | Bloomberg | Harper in Brussels to Conclude Canada Trade Pact With EU | Canadian Prime Minister Stephen Harper is traveling to Brussels today in a bid to conclude a free trade agreement with the European Union. Harper, who told lawmakers yesterday his government will soon complete the trade pact, will meet with European Commission President Jose Barroso during the two-day trip “with the go... |
2024-04-28 | Bloomberg | Exelon Offers Maryland Customers $100 Each for Constellation Bid Approval | Exelon Corp. (EXC) , which has had two multibillion-dollar takeovers blocked by state officials, is offering Maryland utility customers $100 each to ease regulatory approval for its $7.9 billion purchase of Constellation Energy Group Inc. (CEG) Exelon has tried unsuccessfully three times to buy other power companies a... |
2024-12-15 | Bloomberg | U.S. Stocks to Top Canada’s Next Year, MFC’s Petursson Says | U.S. stocks will outperform Canadian equities next year for the first time since 2003 as investors take advantage of lower U.S. valuations and commodity gains slow, Philip Petursson of MFC Global Investment Management says. The Standard & Poor’s 500 Index will provide a total return of about 10 percent to 12 percent in... |
2024-12-16 | Bloomberg | Canadian Stocks Retreat as Gold, Copper, Natural Gas Decline | Canadian stocks fell for a third day as fuels retreated on forecasts for warmer U.S. weather and metals dropped on speculation China may boost interest rates. Barrick Gold Corp., the world’s largest producer, slipped 1.5 percent as metal slumped to a December low. Suncor Energy Inc., Canada’s biggest oil and gas produc... |
2024-04-21 | Bloomberg | Canadian Stocks Rise as U.S. Dollar Slips, Metal Producers Gain | Canadian stocks rose, completing a a weekly gain, as a weaker dollar boosted raw-material producers and companies including Morgan Stanley and Apple Inc. topped analysts’ profit estimates. Barrick Gold Corp. (ABX) , the world’s largest gold producer, advanced 1.5 percent as the metal settled above $1,500 an ounce for t... |
2024-06-15 | Bloomberg | Asian Stocks Rise as Stimulus Hopes Offset Europe Concern | Asian stocks gained, with the regional benchmark index heading for its biggest weekly advance in almost five months, as optimism that central banks from China to the U.S. will act to stimulate economic growth tempered concerns Europe’s debt crisis will worsen. Agricultural Bank of China Ltd. , the nation’s third-larges... |
2024-06-15 | Bloomberg | Canadian Stocks Rise as Energy Shares Surge, RIM Rebounds | Canadian stocks rose as oil’s rally helped energy companies snap a two-day losing streak amid speculation central banks will take steps to bolster growth. Energy stocks in the Standard & Poor’s/TSX Composite Index advanced 1.4 percent, the most in more than a week, as Encana Corp. (ECA) jumped 5.7 percent. Research In ... |
2024-06-15 | Bloomberg | Asian Stocks Gain Second Week Amid Economic Stimulus Optimism | Asian stocks rose, with the regional benchmark index recording its biggest weekly gain in almost five months, on optimism that central banks from China to the U.S. will take new steps to fuel growth tempered concerns Europe’s debt crisis will worsen. Li & Fung Ltd. (494) , a supplier of toys and clothes to Wal-Mart Sto... |
2024-03-09 | Bloomberg | Manulife to ‘Overinvest’ in Canadian Bank, Fund Businesses | Manulife Financial Corp. (MFC) ’s Canadian division will increase spending on its bank and mutual fund operations at a faster pace than its insurance business, the unit’s president and chief executive officer said. Manulife has enough scale in businesses such as individual life insurance , where it has about 20 percent... |
2024-01-05 | Bloomberg | West Virginia Routs Clemson 70-33 as Records Tumble at the Orange Bowl | Geno Smith threw six touchdown passes and ran for another to lead West Virginia University to a record 70-33 win over Clemson University in college football’s Orange Bowl. Smith connected four times with Tavon Austin, who had 11 catches for 117 yards at Sun Life Stadium in Miami. Shawne Alston ran for two touchdowns. S... |
2024-04-26 | Bloomberg | Canadian Stocks Rise as UBS, UPS, Ford Beat Earnings Forecasts | Canadian stocks rose, led by railroads and insurers, after companies including UBS AG, United Parcel Service Inc. and Ford Motor Co. beat analysts’ profit estimates. Canadian National Railroad Co., the country’s biggest railroad, advanced 1.2 percent before the release of its first- quarter financial results. BlackBerr... |
2024-04-26 | Bloomberg | Rogers Beats Profit Estimates as It Adds Wireless Subscribers in Quarter | Rogers Communications Inc. (RCI/B) , Canada ’s largest wireless carrier, reported first-quarter profit that beat analysts’ estimates as price cuts helped it add subscribers and fend off competition from new carriers. Profit excluding some items was 76 Canadian cents (80 U.S. cents) a share, Toronto-based Rogers said to... |
2024-02-22 | Bloomberg | Rogers Fourth-Quarter Profit Advances 8.3% on Growth in Wireless Business | Rogers Communications Inc. (RCI/B) , Canada ’s largest wireless carrier, said fourth-quarter earnings rose 8.3 percent, helped by wireless revenue as customers spent more time on smartphones. Net income climbed to C$327 million ($328 million), or 61 cents a share, from C$302 million, or 50 cents, a year earlier, the To... |
2024-08-13 | Bloomberg | Hong Kong’s Office Shortage Spurs Makeovers of Factories | Hong Kong investors are turning run-down factories and warehouses into offices to fill a space shortage in the city with the world’s second-highest rents. Pamfleet Group and Gaw Capital Partners are among real estate funds that bought more than HK$54 billion ($7 billion) of the city’s industrial properties in the year ... |
2024-08-13 | Bloomberg | F1 Builder With $10 Billion Debt to Sell Assets: Corporate India | Jaypee Group, owner of India ’s most indebted cement maker, plans to sell some of its plants and real estate in a bid to cut liabilities by about 25 percent. The builder of India’s only Formula One racing track seeks to reduce debt by 150 billion rupees ($2.5 billion) by selling its cement plants in southern and wester... |
2024-09-29 | Bloomberg | Worried About Cancer? Get Married | When I mentioned my bout with breast cancer to a new acquaintance, his first question was, “Are you married?” It was an unusual reaction -- a more common query is whether I have kids. Later he told me that his daughter-in-law had been diagnosed with breast cancer while still in graduate school and that she and his son ... |
2024-06-18 | Bloomberg | Bair Says GSE Overhaul Should Top Agenda After Financial Bill | An overhaul of the U.S. mortgage- finance system “should rise to the top of the agenda” as soon as Congress finishes its rewrite of financial-industry rules, Federal Deposit Insurance Corp. Chairman Sheila Bair said today. Fannie Mae and Freddie Mac , the mortgage firms 80 percent owned by the federal government, shou... |
2024-04-05 | Bloomberg | U.S. Stocks Fall as Payrolls Rise Less Than Estimated | U.S. stocks fell, capping the biggest weekly decline of the year for the Standard & Poor’s 500 Index, after data showed the nation added less than half the number of jobs economists forecast in March. American Express Co. and Coca-Cola Co. slid at least 1.1 percent to pace losses among the largest companies. F5 Network... |
2024-04-06 | Bloomberg | South Korea Life Insurers Offer Donations for Listing | Samsung Life Insurance Co. and other life insurers in South Korea offered to donate a combined 1.5 trillion won ($1.6 billion) over twenty years, their latest move to appease policyholders who are blocking them from going public. Korea Life Insurance Association, whose 22 members include eight foreign life insurers op... |
2024-07-20 | Bloomberg | U.K. Stocks Fall From 11-Week High as Banks Drop on Spain | U.K. stocks declined, pulling the FTSE 100 Index down from an 11-week high and erasing its weekly advance, amid concern Spain ’s debt crisis is worsening. Barclays (BARC) Plc, Royal Bank of Scotland Group Plc (RBS) and HSBC Holdings Plc (HSBA) tumbled at least 3 percent as Spain cut its growth forecast and as the regio... |
2024-10-06 | Bloomberg | Anglo Irish Default Swaps May Be Triggered on `Burden Sharing' | Banks and hedge funds may have to pay out on Anglo Irish Bank Corp. debt insurance after the government insisted holders of its riskiest bonds share the pain of a $47 billion bailout. The cost of credit-default swaps protecting Anglo Irish’s subordinated notes has more than doubled since Sept. 1 on speculation of a pay... |
2024-03-03 | Bloomberg | MBIA Approves Lowest Executive Bonuses in Its History | MBIA Inc. (MBI) , the bond insurer reeling from subprime losses and an 80 percent slide in the stock, approved the lowest executive bonuses in its history. Payouts averaged 40 percent of the company's targets, compared with an average 75 percent to 90 percent, Armonk, New York-based MBIA said in a regulatory filing to... |
2024-01-16 | Bloomberg | New Purpose of Government Is Better Government | For all the bitterness in Washington these days, it’s easy to miss the broad consensus that undergirds our contentious politics. Republicans swear to protect Medicare and Social Security, and most recognize they can no longer hope to repeal Barack Obama ’s Affordable Care Act. Democrats voted to make the George W. Bush... |
2024-11-22 | Bloomberg | Taipei's Industrial Vacancy to Decline as Companies Expands, Colliers Says | Taipei’s vacancy rates for industrial space leased to large overseas companies including Samsung Electronics Co. may drop as tenants expand and as Taiwan’s economy improves, according to Colliers International. The vacancy rate for so-called high-specification industrial buildings, or those rented to multinational comp... |
2024-07-26 | Bloomberg | Asian Currencies Strengthen, Led by Won, on Korea GDP, Japan Export Growth | The South Korea won and the Singapore dollar rose for a fifth day, leading gains in Asian currencies, after reports signaled the region’s economic recovery is intact. Investor sentiment for emerging-market assets also got a lift as most European central banks passed stress tests assessing their strength of capital. So... |
2024-05-24 | Bloomberg | Dealers Absorbing Junk Bonds as ETF Demand Drops: Credit Markets | Wall Street banks are expanding holdings of speculative-grade bonds as prices fall from record highs with investors retreating from exchange-traded funds that buy the debt. The 21 primary dealers that do business with the Federal Reserve increased their net positions in junk-rated debt by 37 percent to $7.7 billion in ... |
2024-10-01 | Bloomberg | Lawsky Sees Obamacare as Model to Simplify Home Insurance | Homeowners’ insurance needs to be more standardized because customers are confused about what their policies protect, New York’s financial regulator said. Few fully understand all the complexities of their coverage, Benjamin Lawsky , superintendent of the state’s Department of Financial Services, said yesterday in an i... |
2024-07-09 | Bloomberg | Mediobanca Securities Names New Head, Strengthens London Team | Mediobanca SpA (MB) , Italy ’s biggest publicly traded investment bank, named a new head of its brokerage unit as the company strengthens its European equity coverage in London at a time when lower trading volumes and commissions are prompting closures at competitors. The Milan-based bank named Paolo Cuniberti, 48, cur... |
2024-07-30 | Bloomberg | China Sovereign Fund's Huijin Said to Plan Bond Sales Soon as Next Month | Central Huijin Investment Co., the domestic arm of China’s sovereign wealth fund, plans to sell bonds as soon as next month, according to a person with direct knowledge of the matter. China International Capital Corp. and Citic Securities Co. will help the Beijing-based company sell bonds in batches of up to 40 billio... |
2024-02-12 | Bloomberg | Australian Shares Climb on Earnings; Benchmark Touches 5,000 | Australian shares rose to the highest level in nearly three years, with the benchmark equities gauge touching 5,000, after earnings from Commonwealth Bank of Australia and CSL Ltd. boosted investor optimism. Commonwealth Bank of Australia , the nation’s largest lender, climbed 2.4 percent as retail banking and wealth m... |
2024-02-09 | Bloomberg | Obama Job Approval Hits Highest Level Since June in Gallup Poll | President Barack Obama ’s job approval climbed to its highest level since June following a series of reports showing that the economy is strengthening and employment prospects for Americans are improving. Gallup Inc.’s daily tracking poll results released today show Obama’s job approval at 49 percent in polling conduct... |
2024-07-26 | Bloomberg | UnitedHealth Joins Medicare to Expose Double Billings by Doctors | UnitedHealth Group Inc. (UNH) and WellPoint Inc. (WLP) , the largest publicly traded health insurers in the U.S., agreed to share more information with regulators in an industrywide partnership with the government to root out fraud. The initiative targets theft of doctors’ identities and overbilling, including in Medic... |
2024-12-24 | Bloomberg | KBC to Sell Absolut Bank to Russian Pension Asset Managers | KBC Groep NV (KBC) , Belgium ’s largest bank and insurer by market value, agreed to sell Absolut Bank for 1 billion euros ($1.3 billion) to a group of companies managing the assets of Russia ’s second-largest non-state pension fund as part of a disposal program agreed with European regulators. Under the agreement, KBC ... |
2024-05-31 | Bloomberg | Business Activity in U.S. Unexpectedly Grew at Slower Pace | Business activity in the U.S. expanded in May at the slowest pace in more than two years as orders and production cooled. The Institute for Supply Management-Chicago Inc. said today its barometer decreased to 52.7, the lowest since September 2009, from 56.2 in April. Readings greater than 50 signal growth. Economists p... |
2024-04-26 | Bloomberg | Versicherungskammer Bayern Profit Falls 31% on Life Insurance | Versicherungskammer Bayern, Germany ’s biggest public insurer, said profit fell 31 percent last year as premium income from life insurance declined. Net income fell to 91.4 million euros ($121 million) from 133.4 million euros a year earlier, the Munich-based insurer said in an e-mailed statement today. Total gross pre... |
2024-11-21 | Bloomberg | Ping An, ABC, BoC, Changsha Zoomlion: China Equity Preview | The following companies may have unusual price changes in China trading. Stock symbols are in parentheses, and share prices are as of the last close. The Shanghai Composite Index , which tracks the bigger of China’s stock exchanges, gained 23.11, or 0.8 percent, to 2,888.57. The CSI 300 Index added 1 percent to 3,178.8... |
2024-02-26 | Bloomberg | Hanwha Life Tumbles After Shares Sold at Discount: Seoul Mover | Hanwha Life Insurance Co. (088350) , South Korea’s second-largest life insurer, tumbled the most on record in Seoul trading after a shareholder sold stock at a discount. Shares of Hanwha Life sank 9 percent to 7,250 won as of 9:56 a.m. on the Korea Exchange, the worst performer on the MSCI Asia Pacific Index. Hanwha Ch... |
2024-06-25 | Bloomberg | German DAX Drops Most in Three Weeks; ThyssenKrupp Sinks | German stocks slid the most in three weeks as billionaire investor George Soros warned that failure to produce drastic measures at a meeting of European Union leaders could spell the demise of the euro. HeidelbergCement AG, the world’s third-largest maker of cement, retreated 4.2 percent. Deutsche Bank AG (DBK) , the c... |
2024-10-02 | Bloomberg | Romney Seeks to Burnish Image as Man of Vision in Debate | When the presidential candidates meet tomorrow for their first debate, Mitt Romney will have the most to prove. Trailing in national polls and in states that could determine the outcome of the race, the Republican nominee will have one of his last opportunities to shift the dynamics of the Nov. 6 election at the event ... |
2024-02-23 | Bloomberg | Swiss Re Raises Dividend After Quarterly Earnings Beat Analyst Estimates | Swiss Re Ltd. (SREN) , the world’s second- biggest reinsurer, may use excess capital to pay a special dividend for this year after increasing its 2011 payout as fourth-quarter profit exceeded analyst estimates. Swiss gained the most in five weeks in Zurich trading after posting net income of $983 million following a lo... |
2024-02-05 | Bloomberg | U.K. Stocks Advance as ARM, BP Rally on Earnings | U.K. stocks advanced, rebounding from the biggest retreat in almost three months, as companies from ARM Holdings Plc (ARM) to BP Plc (BP/) reported results that exceeded analysts’ estimates. ARM surged to a 12-year high after the designer of chips for Apple Inc.’s products posted a 19 percent increase in fourth-quarter... |
2024-09-05 | Bloomberg | Assurant Says Smaller Force-Placed Book Frees Capital | Assurant Inc. (AIZ) will have more capital to deploy as its business covering foreclosed homes shrinks amid an improving housing market, Chief Executive Officer Robert Pollock said. In an improving economy, “our premium block will shrink,” Pollock said today at an investor conference in New York sponsored by KBW Inc. “... |
2024-09-24 | Bloomberg | Banks in Virginia, California Closed as Failures Climb to 73 | U.S. state banking regulators shuttered lenders in Virginia and California , pushing this year’s tally of failures to 73. Officials closed Norfolk, Virginia-based Bank of the Commonwealth and Nevada City, California’s Citizens Bank of Northern California, the Federal Deposit Insurance Corp. said today on its website. T... |
2024-05-02 | Bloomberg | Hartford Financial Jumps After Profit Climbs 60% on Gain From Asset Sale | Hartford Financial Services Group Inc. (HIG) , the insurer that counts John Paulson ’s hedge fund as its largest shareholder, said first-quarter profit increased 60 percent on the sale of a claims-administration business. Hartford booked a $61 million gain tied to U.S. stock- market advances and a weakened yen. Net inc... |
2024-07-01 | Bloomberg | Deutsche Bank Closes Some Wealth Units in Eastern Europe, WiBlatt Reports | Deutsche Bank AG plans to close wealth management offices in Budapest and Warsaw, Wirtschaftsblatt reported, citing Bernhard Ramsauer, who heads the bank’s Austrian private wealth management unit. Clients in those countries will be serviced out of Vienna and Geneva, the newspaper said. While he expects the unit to ma... |
2024-06-30 | Bloomberg | U.S. Negotiators Agree to End TARP to Pay for Financial Bill | Democratic lawmakers cleared the way for final votes in the House and Senate on the U.S. financial- regulatory bill after reconvening to make a fix requested by Republican senators, who objected to charging banks and hedge funds $19 billion to help pay for the measure. House and Senate negotiators who last week merged... |
2024-09-20 | Bloomberg | Credit Suisse, Qatar Venture to Start Foreign Operation | Aventicum Capital Management, the joint venture of Credit Suisse Group AG (CSGN) and Qatar Holding LLC, plans to begin international operations by the end of the year after starting its first fund in July, according to a memo. Aventicum’s Doha office is fully operational after receiving a license from the Qatar Financi... |
2024-02-15 | Bloomberg | ING May Return to Profit in Fourth-Quarter, Post U.S. Insurance Writedown | ING Groep NV , the biggest Dutch financial-services company, may say it returned to profit in the fourth quarter, even as it took a writedown in the U.S. insurance unit to prepare for an initial public offering. The bank and insurer will probably report net income of 596 million euros ($806 million), according to the a... |
2024-09-08 | Bloomberg | Ambani Aims Beyond India With Reliance $16 Billion Cash Hoard | Mukesh Ambani doesn’t do small. He is the richest man in India. His company, Reliance Industries Ltd. (RIL) , operates the largest oil refinery complex ever built from scratch. And late last year, he moved into one of the planet’s most expensive private homes. The 27-story apartment features a spa, a 50-seat movie thea... |
2024-11-27 | Bloomberg | Adam Smith’s ’Wealth’, Marilyn Monroe Note for Sale | A first edition of Adam Smith’s “An Inquiry Into the Nature and Causes of the Wealth of Nations” could sell for as much as $120,000 at auction next month. Published in 1776, the volume is among almost 300 lots of rare books and manuscripts expected to tally as much as $8 million at the Profiles in History sale on Dec. ... |
2024-03-10 | Bloomberg | Canadian Banks Show Rare Division Over TMX Sale to LSE | Canadian banks, united on most policy issues, are divided on whether to support the proposed sale of the country’s main stock exchange to London Stock Exchange Group Plc. (LSE) Toronto-Dominion Bank (TD) , Canadian Imperial Bank of Commerce and National Bank of Canada , three of the country’s six biggest lenders, sai... |
2024-11-12 | Bloomberg | Rubber Slumps From 30-Year High as China May Take Steps to Curb Inflation | Rubber in Tokyo slumped from a 30- year high while futures in Shanghai tumbled from a record amid concern that China, the largest user, may take additional steps to curb inflation. The cash price in Thailand remained at a record on supply concerns. April-delivery rubber on the Tokyo Commodity Exchange declined as much ... |
2024-07-29 | Bloomberg | Euro Advances to Two-Month High on Bets Europe Recovering Faster Than U.S. | The euro advanced to its highest level versus the dollar since the region’s $1 trillion bailout was announced May 10 on evidence the European economy is recovering at a faster pace than the U.S. The 16-nation currency appreciated as a report showed European confidence in the economic outlook rose to the highest level ... |
2024-12-30 | Bloomberg | NFL Labor Accord Is Unlikely Before Super Bowl, Union President Mawae Says | The National Football League and its players union are unlikely to reach a labor agreement before this season’s Super Bowl title game, union head Kevin Mawae said. Mawae, president of the NFL Players Association , said players and owners haven’t made significant progress since meetings in November. He said the union ha... |
2024-08-15 | Bloomberg | Heir Awarded $1.43 Million by Hague for Goering-Looted Part of Old Master | The Hague city government agreed to pay 1 million euros ($1.43 million) to the heir of a Jewish art dealer whose gallery was looted by Hermann Goering for part of a Jan Steen painting that was in fragments until 1996. Jacques Goudstikker left about 1,400 artworks in his gallery when he escaped Amsterdam in 1940 on a ca... |
2024-07-18 | Bloomberg | Vivus Weight-Loss Pill Is Second in Month to Win Approval | Vivus Inc. (VVUS) rose the most in almost five months after winning approval from U.S. regulators yesterday for its obesity drug Qsymia, the second medicine cleared to treat the condition within three weeks. Vivus jumped 9.6 percent to $29 at the close in New York , for its biggest one-day increase since Feb. 24. The d... |
2024-11-21 | Bloomberg | Indian Stocks Gain Most in Two Weeks Before Parliament Co | Indian stocks climbed the most in about three weeks amid speculation the government may secure lawmakers’ support for its economic policies in the winter session of the nation’s parliament starting tomorrow. The BSE India Sensitive Index (SENSEX) , or Sensex, rose 0.7 percent to 18,460.38 at the close, the steepest ga... |
2024-02-13 | Bloomberg | Canada Stocks Retreat as Gold Slump Offsets Bank Rally | Canadian stocks fell as a slump in technology and raw-material shares offset a rally in financial companies amid corporate earnings. Gold producers declined as Barrick Gold Corp. and Eldorado Gold Corp. dropped at least 2.6 percent. BlackBerry, formerly known as Research In Motion Ltd., fell 8.1 percent, retreating for... |
2024-06-22 | Bloomberg | Osborne Will Cut Welfare, Housing Benefits, Tax Credits by $16.3 Billion | U.K. Chancellor of the Exchequer George Osborne said the government will reduce spending on welfare benefits by a total of 11 billion pounds ($16.3 billion) by April 2015 to help tackle the record budget deficit. “It is simply not possible to deal with a budget deficit of this size without undertaking lasting reform o... |
2024-06-03 | Bloomberg | Vinashin, Aurora Empowerment, Madoff: European, Asian Bankruptcy | Vietnam Shipbuilding Industry Group, the state-owned company with more than $4 billion of debt, asked holders of a local-currency bond it defaulted on in April to write off as much as 90 percent of the money owed, according to a bondholder who met company officials. Vinashin told creditors at the meeting in Hanoi it is... |
2024-12-01 | Bloomberg | First Financial, Taiwan Banks Climb as Newspaper Fuels Profit Speculation | First Financial Holding Co. led Taiwan banking stocks higher in Taipei after the Commercial Times reported that local banks made a record pretax profit in the first ten months of 2010. First Financial surged 6.9 percent to NT$21.80 as of 11:23 a.m., set for the highest close since Sept. 12, 2008. Chang Hwa Commercial B... |
2024-06-29 | Bloomberg | House Passes Legislation to Fund Highways for 27 Months | The U.S. House of Representatives today approved a bill that will keep money flowing for highway and mass transit projects for the next 27 months. Lawmakers acted a day before the programs were due to expire. The legislation, passed on a 373-52 vote, overhauls how projects undergo review for their effect on the environ... |
2024-07-01 | Bloomberg | South Korea's Biggest Investors Become More Bullish as Foreign Funds Sell | South Korea’s largest fund managers are growing more bullish on the nation’s stocks even as overseas investors sell, helping the benchmark Kospi index post one of only two gains among the 20 biggest equity markets last quarter. KTB Asset Management Co. and Mirae Asset Global Investments Co. of Seoul say shares may ris... |
2024-05-07 | Bloomberg | Airline Insurance Costs Decline as Lower Crash Rates Pare Claims | Airlines will benefit from lower insurance costs after claims declined for a third year running as reduced accident rates and increased competition among insurers keep premiums down. Claims dropped 20 percent last year to $924 million as premiums fell 11 percent to $1.61 billion, insurance broker Aon Risk Solutions sai... |
2024-08-18 | Bloomberg | Californians Can’t Claim Billed Costs in Injury Lawsuits | Californians suing over personal injuries can only seek damages for actual, rather than billed, medical expenses, the state’s high court said today. Allowing plaintiffs to recover billed medical costs rather than the lower fees from negotiated rates between health providers and insurers could have cost insurance compan... |
2024-06-21 | Bloomberg | European Stocks Climb for Ninth Straight Day After China Relaxes Yuan Peg | European stocks rose for a ninth day, extending the longest rally in 11 months, after China’s signal that it will relax the yuan’s fixed rate to the dollar stoked confidence in the global economy. BHP Billiton Ltd. and Rio Tinto Group surged to the highest levels since April on speculation a stronger yuan will boost C... |
2024-11-09 | Bloomberg | SAC Judge Delays Decision on Insider-Trading Plea | The U.S. judge overseeing SAC Capital Advisors LP’s guilty plea to securities fraud said she wouldn’t immediately decide whether to accept it, saying she wanted to review the documents first. The hedge fund yesterday entered a plea through its general counsel, who appeared in Manhattan federal court before U.S. Distric... |
2024-12-27 | Bloomberg | Labor Market, Housing in U.S. Strengthen Into 2013: Economy | The labor market and housing strengthened, signaling the U.S. expansion may withstand the fiscal impasse. “The economy is holding up just fine right now,” said Neil Dutta, head of U.S. economics at Renaissance Macro Research LLC in New York. “Folks that are thinking there was going to be some cataclysmic economic shock... |
2024-07-23 | Bloomberg | Virginia Financial Advisor Gets 12 Years for $6.8 Million Securities Fraud | A Virginia man was sentenced to 12 years and 7 months in prison for operating a scheme that defrauded $6.8 million from clients who gave him money to invest in blue chip stocks, prosecutors said. Gregory Vincent Cronin, who operated Innovative Investment Advisors Inc., was also ordered to pay $6.9 million in restituti... |
2024-07-07 | Bloomberg | Stocks, Commodities Rise After ADP Report; Debt Risk Climbs | Stocks rallied, sending the Standard & Poor’s 500 Index to an almost two-month high, and commodities rose as data on jobs and retail sales bolstered optimism in the economy. The euro fell as the region’s debt crisis overshadowed a European Central Bank interest-rate increase. The S&P 500 gained 0.8 percent to 1,349.91 ... |
2024-02-08 | Bloomberg | Mortgage Bonds Face Eye of Storm as Refinancings Decline: Credit Markets | Investors in U.S. government-backed mortgage bonds who benefited from a decline in early payoffs by homeowners are bracing for the fallout from a loosening of refinancing rules at Fannie Mae (FNMA) and Freddie Mac. Prepayments for Fannie Mae’s 30-year fixed-rate securities fell 8 percent last month to a pace that would... |
2024-10-23 | Bloomberg | Hospital Shares Track Obama Re-Election Odds: Chart | Investors betting on HCA Holdings Inc. (HCA) and its hospital-company brethren needn’t worry about patient admissions or earnings. To see where the stocks may go, just watch President Barack Obama ’s poll numbers. The CHART OF THE DAY shows shares of for-profit hospital chains have closely tracked the ups and downs of ... |
2024-10-14 | Bloomberg | Jerneh Asia May Have Called Off Developer Acquisition, Edge Says | Jerneh Asia Bhd. (JER) , which sold its insurance business, may have abandoned discussions to acquire a property developer, The Edge Financial Daily reported, citing a person it didn’t identify. Jerneh may possibly undertake a capital repayment to shareholders, the newspaper said. A spokesperson for Jerneh declined to ... |
2024-08-22 | Bloomberg | Jiang’s $310,000 at ICBC Compares to Dimon’s $23 Million | JPMorgan Chase & Co. pays Jamie Dimon $1.21 million for every $1 billion of profit at the biggest U.S. bank. Industrial & Commercial Bank of China Ltd., the world’s most profitable, gives its top executive $9,400. That pay-to-performance gap is set to widen this year. The state-controlled Chinese lender, led by Chairma... |
2024-09-04 | Bloomberg | EU Money Market Rules, Swap Rules, Bank Wills: Compliance | Banks and asset managers running money-market funds face a regulatory push from the European Union amid warnings from lenders that the plans may kill off part of the $4.7 trillion global industry. Michel Barnier , the EU’s financial services chief, will call for the funds to hoard easy-to-sell assets and in some cases ... |
2024-08-14 | Bloomberg | Carbon Taxes Cut Debt, Cool Planet | Absent some profound shift in our penchant for burning coal, oil and gas, the Earth is expected to warm as much as 11.5 degrees Fahrenheit over the next 100 years, causing more weather-related destruction. It’s only responsible to force a shift away from fossil fuels by enacting a carbon tax. The U.S., which accounts f... |
2024-09-19 | Bloomberg | New York Life Adds Variable-Annuity Guarantee as Rivals Retreat | New York Life Insurance Co., the largest U.S. life insurer owned by policyholders, is offering guaranteed payments linked to variable annuities even as competitors retreat from selling the retirement products. New York Life customers can invest the cash backing the guaranteed income in mutual funds to benefit from stoc... |
2024-11-02 | Bloomberg | Berkshire Profit Advances 29% on Railroad, Investments | Warren Buffett ’s Berkshire Hathaway Inc. said third-quarter profit climbed 29 percent on investments and gains at non-insurance businesses including railroad Burlington Northern Santa Fe. Net income rose to $5.05 billion, or $3,074 a share, from $3.92 billion, or $2,373, a year earlier, the Omaha, Nebraska-based compa... |
2024-07-17 | Bloomberg | Prudential Said to Get DeMarco’s Backing to Avoid SIFI | Prudential Financial Inc. (PRU) , the insurer contesting a decision deeming it systemically important, won the support of the Federal Housing Finance Agency during a vote of U.S. regulators last month, two people familiar with the matter said. The Financial Stability Oversight Council voted 7-2 to designate an unidenti... |
2024-01-12 | Bloomberg | British Insurers Told to Drop ‘Sharp Practices’ on Car Claims | Britain’s insurers should abandon “sharp practices” driving up the cost of auto premiums and the government ought to make it harder for whiplash claims to succeed, according to a House of Commons committee. Soaring costs of uncontested whiplash claims have caused motor insurance premiums to spiral and need to be curbed... |
2024-04-20 | Bloomberg | Chile’s $9.6 Billion Planned Stock Sales Swell as Growth Spurs Record IPOs | Chilean companies are preparing a record number of initial public offerings as the country’s economy grows at the fastest pace in more than a decade and its benchmark equity index outperforms Latin American peers. Companies may raise as much as $9.6 billion through next year from IPOs and subsequent offerings, said San... |
2024-06-27 | Bloomberg | Court Hints Gay-Marriage Support As It Sends States Issue | The U.S. Supreme Court shifted the legal and political debate over same-sex marriage to the states, stopping short of directly deciding whether gay Americans have a constitutional right to matrimony. Two of the court’s gay-marriage opponents -- Antonin Scalia and Clarence Thomas -- nonetheless agree with some constitut... |
2024-05-01 | Bloomberg | Gillard Proposes Levy to Fund Disability Pledge Before Poll | Australians would pay a higher public health levy to help finance a new program to aid the disabled, Prime Minister Julia Gillard said as she seeks support for a key pledge less than five months ahead of an election. The Medicare levy would rise from 1.5 percent to 2 percent to help fund the National Disability Insuran... |
2024-09-27 | Bloomberg | Vestas Gains on Mitsubishi Heavy Deal for Offshore Wind | Vestas Wind Systems A/S (VWS) , the Danish turbine maker that’s been unprofitable for two years, agreed to form a venture to develop offshore wind energy with Mitsubishi Heavy Industries Ltd. (7011) Vestas’s shares surged. The venture will start in March 2014 and be equally owned by each company. It will design, procur... |
2024-06-17 | Bloomberg | Jobless Claims in U.S. Increased 12,000 Last Week to 472,000 | The number of Americans seeking jobless benefits last week unexpectedly rose to a one-month high, indicating firings are staying elevated even as the U.S. economy grows. Initial jobless claims increased by 12,000 to 472,000 in the week ended June 12, Labor Department figures showed today in Washington. Economists surv... |
2024-07-15 | Bloomberg | European Stocks Post Biggest Weekly Retreat Since March; Commerzbank Sinks | European stocks posted the biggest weekly drop since March as concern mounted that the sovereign- debt crisis will spread to Italy and Spain and as rating companies said they may cut the U.S.’s top credit rating. Commerzbank AG (CBK) , Germany’s second-biggest lender, led a retreat in financial stocks. Thomas Cook Grou... |
2024-08-09 | Bloomberg | Goldman Sachs Cut Italy Debt Holdings 92% Last Quarter | Goldman Sachs Group Inc. (GS) , the fifth- biggest U.S. bank by assets, cut its holdings of Italian sovereign debt by 92 percent in the second quarter after boosting them in the first three months of the year. “Market exposure” to Italian government bonds fell to $191 million at the end of June from $2.51 billion at th... |
2024-04-06 | Bloomberg | Treasury 10-Year Yields Reach 4-Week High as Inflation Expectations Climb | Treasuries fell for a second day, pushing yields on the 10-year note to a four-week high, as speculation the Federal Reserve will maintain stimulus measures sent inflation expectations to almost three-year highs. The yield gap between five-year Treasury notes and inflation-indexed debt swelled to the widest since July ... |
2024-06-23 | Bloomberg | Canada April Employment Insurance Report (Text) | The following is the text of Canada 's employment insurance report for April released by Statistics Canada. In April, 598,400 people received regular Employment Insurance (EI) benefits, down by 6,500 (-1.1%) from March and the seventh consecutive monthly decline. The number of beneficiaries fell in six provinces, with ... |
2024-05-11 | Bloomberg | FDIC’s Bair Says Servicing Regulation Will Create Problems | Future regulation of U.S. mortgage servicing in the wake of soaring foreclosures stemming from the credit crisis may increase costs and slow economic recovery, Federal Deposit Insurance Corp. Chairman Sheila Bair said. Bair, who has fought to include servicing standards in Dodd-Frank Act rules requiring lenders to reta... |
2024-12-13 | Bloomberg | China Stocks Drop to 2-Year Low on Housing Slump, European Debt | China’s stocks fell to their lowest level in more than two years, after Chinese housing sales slumped and ratings companies said last week’s European summit did little to resolve the region’s debt crisis. Anhui Conch Cement Co. (600585) , whose materials are used in property construction, slid 4.5 percent after Fitch R... |
2024-05-27 | Bloomberg | Venezuela TV Host Said He Was Fired for Airing Opposition Speech | A Venezuelan television host said he was fired by Globovision network for airing a speech by an opposition leader, two weeks after the channel accused by late president Hugo Chavez of plotting against him was bought out. Francisco “Kiko” Bautista, who hosted “Buenas Noches,” a political chat show that airs every night,... |
2024-09-05 | Bloomberg | Insurers Pay Hospitals Twice Rate of Rivals in Some Areas | Residents of Kansas City , Missouri, and Indianapolis with private health plans face wide disparities in how much they pay for hospital care, depending on where they go for help, a study found. The highest-priced hospitals in 13 cities studied are typically paid 60 percent more for inpatient services and almost double ... |
2024-06-14 | Bloomberg | Buffett's $2.63 Million Lunch Auction Shows Enhanced Reputation | Warren Buffett ’s annual charity- lunch auction reached a record $2.63 million after a year in which the billionaire defied an economic slump by completing his biggest takeover and boosting Berkshire Hathaway Inc.’s profit. Bidding outpaced last year’s during the first days of the weeklong event and ended in a frenzy ... |
2024-09-02 | Bloomberg | ECB Needs to Reverse Rate Increases to Prevent Recession, Economists Say | The European Central Bank should reverse this year’s rate increases to prevent the euro-area economy from slipping back into recession, members of the so- called shadow ECB council said. A contraction in European manufacturing and plunging business and consumer confidence suggest the sharp slowdown in economic growth i... |
2024-07-31 | Bloomberg | Chinese Banks May See Profit Decline on Crackdown, JPMorgan Says | Chinese banks’ profits may decline in the next three years as a government crackdown on industrial overcapacity slows lending and sours loans, said JPMorgan Securities (Asia Pacific) Ltd. Credit growth may slow to the mid-teens over the next 18 months, from the 20 percent to 25 percent gains in recent years, Josh Klacz... |
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