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2024-01-17 | Bloomberg | Capital One Misses Estimates on Increase in Reserves | Capital One Financial Corp. (COF) , the lender that gets more than half of its revenue from credit cards, posted a fourth-quarter profit that missed analysts’ estimates as it set aside more reserves to cover loan losses. Net income advanced to $843 million, or $1.41 a share, from $407 million, or 88 cents, a year earli... |
2024-10-24 | Bloomberg | This Election Is All About Health Care | According to the latest Wall Street Journal/NBC News poll , 55 percent of registered voters say the outcome of this election will make “a great deal of difference” in their lives. That’s a 10 percentage point increase over the 2004 election, and more than double the percentage of voters who felt that way about the elec... |
2024-08-12 | Bloomberg | Bankers Returning as Kiwi Diaspora Lured Home by Prospects: Jobs | David Lewis considered jobs in Australia and Asia before moving back to his homeland of New Zealand in February after more than a decade abroad. “Things in the New Zealand economy were looking much more positive than they’d been for a while, particularly in financial services,” said Lewis, 34, who worked for Bank of Am... |
2024-09-30 | Bloomberg | Cigna, Restaurants Seek Low-Wage Health-Plan Waivers | U.S. restaurants have asked the federal government to waive health overhaul rules that may force companies to abandon low-cost “mini-med” plans that insure 1.4 million minimum-wage and part-time employees. Cigna Corp ., the Philadelphia-based health insurer, has also asked for a waiver on behalf of its “limited-benefit... |
2024-08-12 | Bloomberg | Evolution of Ryan Budgets Steers Fiscal Complexity: BGOV Insight | Before Paul Ryan became a household name this weekend as Mitt Romney ’s running mate, the Wisconsin congressman and chairman of the House Budget Committee was a fixture of the Republican policy world. Bloomberg Government looks back at Ryan’s budget proposals. Medicare and Medicaid The focus of Ryan’s budget proposals,... |
2024-04-27 | Bloomberg | Deutsche Bank Profit Jumps 48%, Beating Estimates | Deutsche Bank AG, Germany’s biggest bank, reported a 48 percent increase in first-quarter profit as record earnings at the investment bank outweighed a loss from asset and wealth management. Net income rose to 1.76 billion euros ($2.35 billion), or 2.66 euros a share, from 1.19 billion euros, or 1.92 euros, in the yea... |
2024-05-12 | Bloomberg | European Stocks Drop as Commodities Extend Rout; BHP Retreats | European stocks fell, sending the benchmark Stoxx Europe 600 Index down for the first time in three days, led by a selloff in metal and oil producers as commodities extended yesterday’s rout. BHP Billiton Ltd. (BHP) and Rio Tinto Group each lost more than 1 percent after copper slumped to a five-month low yesterday. In... |
2024-09-28 | Bloomberg | CoreLogic to Pay $7.8 Million in Settlement With New York | CoreLogic Inc. (CLGX) reached a $7.8 million settlement with New York over its role in the collapse of the housing market, state Attorney General Eric Schneiderman said. Andrew Cuomo , now New York’s governor, sued First American Corp.’s EAppraiseIT unit while attorney general in November 2007, saying it gave into dema... |
2024-04-28 | Bloomberg | Letta Appointed Prime Minister, Italy Gets New Government | Enrico Letta was sworn in as Italy ’s prime minister after forging an alliance with Silvio Berlusconi, ending a two-month stalemate and signaling a generational shift in the country’s politics. The ceremony was marred by a shooting outside the prime minister’s office across town. Two police officers and the suspect wer... |
2024-11-07 | Bloomberg | Asian Stocks Advance as Obama Wins U.S. Presidency | Asian stocks advanced for a second day, with News Corp. (NWS) and Nissan Motor Co. (7201) lifting the regional benchmark index on earnings that cheered investors, as U.S. President Barack Obama defeated Republican Mitt Romney to win a second term. News Corp., the media company run by billionaire Rupert Murdoch , gained... |
2024-01-28 | Bloomberg | Mauritius Union Assurance Expects About 40% Increase in Full-Year Profit | Mauritius Union Assurance Co ., the country’ biggest general insurance company by market value, expects full-year profit to jump about 40 percent from a year earlier, Chief Executive Officer Kris Lutchmenarraidoo said. The increase in net income is partly due to the sale of shares to help fund the purchase of La Pruden... |
2024-04-05 | Bloomberg | Grimm Rejects Tea Party That Backed Him for Wall Street | “Mikey Suits,” the FBI agent- turned- New York City congressman, is working hard to defend the industry he once made his name busting. “When we demonize Wall Street , it’s the people on Main Street who don’t have a job,” U.S. Representative Michael Grimm said as he walked the Jersey City trading floor of ICAP Plc, the ... |
2024-04-13 | Bloomberg | Gulf Stocks: Aldar Properties, Doha Bank, Industries Qatar, Zain | The QE Index (DSM) increased 0.5 percent to 8,815.44 at the 1:10 p.m. close in Doha. Dubai’s DFM General Index (DFMGI) climbed 0.6 percent and Abu Dhabi ’s ADX General Index (ADSMI) increased 1 percent. Saudi Arabia ’s Tadawul All Share Index (SASEIDX) gained 0.2 percent. The following stocks rose or fell in the Persia... |
2024-05-06 | Bloomberg | South Korean Agency Buys 1,000 Tons of Aluminum in Tender | South Korea ’s Public Procurement Service, which stockpiles strategic commodities, bought 1,000 metric tons of high-grade, primary aluminum in a tender, according to a notice on the state-run agency’s website today. The metal was so-called non-Western grade and the purchase was made from Glencore International AG at a ... |
2024-05-02 | Bloomberg | Swiss Life May Say Premiums Fell 10% as Wrapper Sales Decline | Swiss Life Holding AG (SLHN) , Switzerland ’s biggest life insurer, may say first-quarter premiums dropped 10 percent after selling fewer insurance wrappers. Gross written premiums probably fell to 7.08 billion Swiss francs ($8.16 billion) from 7.87 billion francs a year earlier, according to the median estimate of fiv... |
2024-11-28 | Bloomberg | Goldman’s Blankfein Among CEOs Meeting With Obama Tomorrow | Goldman Sachs Group Inc. (GS) Chief Executive Officer Lloyd Blankfein joins 13 other corporate executives at the White House tomorrow as President Barack Obama courts their support for his plan to raise revenue and cut spending to avert the so-called fiscal cliff. Obama’s meeting, after a similar gathering with chief e... |
2024-06-20 | Bloomberg | Dimon Defends JPMorgan Disclosures Scrutinized by SEC | JPMorgan Chase & Co. (JPM) Chief Executive Officer Jamie Dimon defended the company’s disclosures of a $2 billion trading loss as regulators and lawmakers questioned whether the largest U.S. bank misled investors. “We disclosed what we knew when we knew it,” Dimon, making his second appearance on Capitol Hill in less t... |
2024-02-21 | Bloomberg | Vienna Insurance Drops Second Day as Greece Aid Optimism Wanes | Vienna Insurance Group AG (VIG) slid for a second day, leading Czech shares down, as speculation a Greek bailout deal won’t solve the nation’s debt crisis hurt demand for riskier assets in Europe. The Austrian company slid 1 percent to 853 koruna by 11:59 a.m. in Prague, adding to a 1.8 percent drop yesterday. The PX (... |
2024-05-31 | Bloomberg | Blackstone-Backed BankUnited Said to Be Near Deal to Buy Herald National | BankUnited Inc., the lender backed by Blackstone Group LP and Carlyle Group , is nearing an agreement to buy New York-based Herald National Bank (HNB) , said a person with direct knowledge of the matter. A deal may be announced as soon as this week, said the person, who spoke on the condition of anonymity because the d... |
2024-07-28 | Bloomberg | U.S. Consumer Confidence Drops on Concern over Economy | Press Release The Bloomberg Consumer Comfort Index Was Minus 46.8 in the Period to July 24 New York -- Consumer confidence dropped last week as Americans’ views of the economy plunged to the lowest level since the recession. The Bloomberg Consumer Comfort Index was minus 46.8 in the period to July 24, the lowest since ... |
2024-01-04 | Bloomberg | Insurers’ 2011 Catastrophe Losses Reached Record on Japan, Munich Re Says | Japan ’s earthquake and U.S. storms helped make 2011 the costliest year on record for insurance companies in terms of natural-disaster losses, according to Munich Re (ARN). Several “devastating” earthquakes and a large number of weather-related catastrophes cost insurers $105 billion, more than double the natural-disas... |
2024-07-08 | Bloomberg | German Exports Rose More Than Economists Forecast in May | German exports increased more than economists forecast in May, adding to signs the sovereign debt crisis isn’t harming Europe ’s largest economy. Exports, adjusted for work days and seasonal changes, increased 4.3 percent from April, when they fell 5.6 percent, the Federal Statistics Office in Wiesbaden said today. Eco... |
2024-11-11 | Bloomberg | Assurant Stock Price Target Cut by Credit Suisse | Assurant Inc. , the insurer of foreclosed homes, had its price target cut by Credit Suisse Group AG on the risk that mortgage-bond investors may sue the company and demand lower rates for property coverage. Assurant dropped 11 percent on the New York Stock Exchange yesterday after American Banker reported “evidence of ... |
2024-08-29 | Bloomberg | Lloyd’s Internal Probe Said to Be Focus of N.Y. Inquiry | A New York regulatory investigation of Lloyd’s of London for possible violations of Iran sanctions law has led to a government request for files of an internal probe by the insurer, a person familiar with the matter said. Lloyd’s, along with Swiss Reinsurance Co. (SREN) , were among several companies reported July 1 to... |
2024-05-15 | Bloomberg | Canadian Banks Not Immune to Housing-Related Failures | Canada ’s banks, ranked the soundest on the planet by the World Economic Forum , aren’t immune to collapses triggered by falling housing prices, according to the government official implementing new mortgage rules. Previous failures of Canadian financial institutions were due to bad real estate lending and sharp falls ... |
2024-07-05 | Bloomberg | Widening GM Truck Supply Reminiscent of 2008 ‘Bad Habits’: Cars | General Motors Co. (GM) stocked Jim Ellis Chevrolet in Atlanta with plenty of Silverado full-size pickups in early 2011, part of a wager on a strong economic recovery. The strategy is backfiring. “We thought that this year would bring back the kind of economic activity that would translate into us selling more trucks,”... |
2024-06-10 | Bloomberg | U.S. Stocks Decline as Dow Heads for Longest Slump Since 2002 | U.S. stocks fell, extending the longest weekly Dow Jones Industrial Average slump in more than eight years, amid concern the global economy is slowing. Exxon Mobil Corp. (XOM) and Freeport-McMoRan Copper & Gold Inc. (FCX) paced losses in energy and raw material producers as oil and metal prices fell. SunTrust Banks Inc... |
2024-09-16 | Bloomberg | Jefferson County’s Journey From Sewer-Bond Scandal to Settlement: Timeline | Jefferson County, Alabama ’s elected leaders voting to settle with creditors averted what would have been the biggest municipal bankruptcy in U.S. history. The deal approved by a 4-1 vote in Birmingham today caps more than three years of negotiations between public officials in Alabama’s most populous county and credit... |
2024-05-18 | Bloomberg | UBS Canada Fires Wealth Head Rasmussen, Sivarajan, Harris | UBS AG (UBSN) , Switzerland’s largest bank, fired three of its Canadian staff including Grant Rasmussen, the president and chief executive officer of wealth management , as part of a reorganization. Rasmussen, along with wealth management managing director Sam Sivarajan and Toronto-based spokesman Graeme Harris were al... |
2024-07-09 | Bloomberg | Pickup First to Top Escalade’s Stolen-Car Rank Since 2003 | For the first time since 2003, the General Motors Co (GM). Cadillac Escalade isn’t the vehicle most targeted by car thieves, having lost out to a Ford pickup truck, according to the Highway Loss Data Institute. Ford Motor Co. (F) (F)’s F-250 heavy-duty pickup took the top spot among most-stolen new vehicles in the U.S.... |
2024-03-02 | Bloomberg | U.S. Federal Reserve Board's March Beige Book Summary of Commentary: Text | The following is the summary text of the Federal Reserve Board’s Summary of Commentary. Reports from the twelve Federal Reserve Districts indicated that overall economic activity continued to expand at a modest to moderate pace in January and early February. Both Kansas City and San Francisco noted that their economies... |
2024-11-06 | Bloomberg | European Stocks Climb as Americans Vote; ARM, Adecco Gain | European stocks advanced for the third time in four days as Americans went to the polls to elect their president. ARM Holdings Plc increased 2.1 percent as Apple Inc. (AAPL) was said to explore how to use the chip designs from its mobile devices in Mac personal computers. Adecco SA (ADEN) climbed 3.2 percent after the ... |
2024-04-17 | Bloomberg | Allianz CEO Backs Hartford Plan as Paulson Presses McGee | Allianz SE (ALV) , Europe ’s biggest insurer and the No. 3 shareholder of Hartford Financial Services Group Inc. (HIG) , endorsed the U.S. company’s plan to scale back its business. “We are very supportive of the actions the management team is taking to position the company for long-term success and deliver greater val... |
2024-10-23 | Bloomberg | Press 4 If You’re Madder Than Obama About Obamacare | (Corrects cost of federal exchange in seventh paragraph.) Please listen carefully as our menu options have changed. Press 1 if failure is not an option. President Barack Obama pressed the wrong button. He got the Affordable Care Act passed and then rested on his laurels. How sad to see our tech-savvy commander in chief... |
2024-06-13 | Bloomberg | UBS Investment Bank Names Sara Ferrari to Emerging Markets Role | UBS AG (UBSN) said Sara Ferrari will coordinate the development of the emerging markets business within the investment bank as the biggest Swiss wealth manager expands in those regions, according to an internal memo. Ferrari will take on the role in addition to her position as the head of strategy at the investment ban... |
2024-03-11 | Bloomberg | Aflac's Amos Says Japan Earthquake Will Disrupt Sales by `Small Degree' | Aflac Inc. (AFL) , which gets most of its revenue from providing health insurance in Japan, said sales will be disrupted to a “small degree” after the strongest earthquake in at least a century struck the country. “I still expect us to achieve our objectives,” Chief Executive Officer Daniel Amos, 59, said today in a te... |
2024-01-15 | Bloomberg | Postal Delay in Congress Hastens Risk of Mail Stoppage | (Corrects Collins committee status in third paragraph after ‘Spending Binge’ subheadline in story published Jan. 14.) The U.S. Postal Service, set to run out of operating cash in October, still can’t get Congress to act with any urgency to help solve its problems. Competing Senate and House proposals to help resolve Po... |
2024-11-06 | Bloomberg | Stocks in U.S. Rally, Driving Dow to Highest Since Pre-Lehman-Bankruptcy | U.S. stocks rallied for a fifth week, sending the Dow Jones Industrial Average to its highest level since before Lehman Brothers Holdings Inc.’s 2008 bankruptcy, as the Federal Reserve announced a $600 billion bond-purchase plan to boost growth and employment increased more than forecast. JPMorgan Chase & Co. and Bank ... |
2024-11-30 | Bloomberg | Japan Unemployment Rises, Output Falls, Showing Risk Economy May Contract | Japan’s industrial production decreased and the unemployment rate unexpectedly climbed in October, providing early signs that the country’s economy will likely shrink this quarter. Factory output declined 1.8 percent from September, the sharpest drop since February 2009, the Trade Ministry said in Tokyo today. The job... |
2024-05-01 | Bloomberg | Buffett Faults Sokol, Calls CEO Candidate ‘Straight as an Arrow’ | Berkshire Hathaway Inc. (BRK/A) Chief Executive Officer Warren Buffett , preparing the firm for his eventual departure, criticized former manager David Sokol for a stock deal while lauding the integrity of a CEO candidate. Sokol, seen as a possible successor to Buffett before he resigned in March amid revelations that ... |
2024-12-09 | Bloomberg | U.S. Initial Jobless Claims Fell 17,000 to 421,000 Last Week | The number of workers filing first- time claims for unemployment insurance payments fell last week in the U.S., showing the labor market continues to improve. Applications for jobless benefits decreased to 421,000, in line with the median forecast of economists surveyed by Bloomberg News, from a revised 438,000 the pri... |
2024-11-06 | Bloomberg | M&T Buys Maryland Bank as Failures This Year in U.S. Eclipse Total in 2009 | Regulators shut down four banks in California, Washington and Maryland as the number of U.S. failures this year reached 143 and eclipsed 2009’s total. M&T Bank Corp. purchased a failed bank in Maryland as it expands in the Mid-Atlantic region while two lenders in California and one in Washington also collapsed, accordi... |
2024-01-24 | Bloomberg | Banks’ LTRO Repayments to Underline Two-Tier Europe: Euro Credit | Lenders repaying cash borrowed from the European Central Bank via its Longer-Term Refinancing Operations are poised to underline the north-south divide that characterizes the euro region. Banks can start paying back this week more than 1 trillion euros ($1.33 trillion) of three-year money they borrowed in two portions ... |
2024-02-02 | Bloomberg | Critics Want More Exemptions From U.S. Birth-Control Rule | The Obama administration’s revised rules on insurance coverage for birth control designed to dispel concerns of religious groups haven’t appeased critics who say the policy violates employers’ rights. Insurers who provide coverage for religious nonprofits, or companies that administer the benefits, will provide contrac... |
2024-09-26 | Bloomberg | Weil on Finance: J.C. Penney's Awful Day, Tax Soccer Stars | Good morning, View fans. Here are your morning links. Have a great day. Another awful day for J.C. Penney investors The struggling retailer’s stock fell 15 percent yesterday after Goldman Sachs credit analysts recommended that investors take out insurance on J.C. Penney’s debt via credit-default swaps only months after... |
2024-07-27 | Bloomberg | Credit Swaps in U.S. Decline on Prospect of ECB Bond Purchases | A gauge of U.S. company debt risk fell the most since November after two European Central Bank officials said ECB President Mario Draghi will meet with Bundesbank President Jens Weidmann on plans to reduce soaring borrowing costs in countries such as Spain and Italy. The Markit CDX North America Investment Grade Index,... |
2024-11-30 | Bloomberg | Foreign-Exchange Derivatives Doubles to $3.2 Trillion Since 2007, BIS Says | The value of currency derivatives worldwide doubled in the past three years to $3.2 trillion amid the “turbulence” of the credit crisis, according to the Bank for International Settlements. The gross market value, or the cost to replace all open contracts such as swaps, options and forwards, jumped from $1.6 trillion i... |
2024-04-23 | Bloomberg | BBA Starts Consumer Panel to Study Simplifying British Banking | The British Bankers’ Association , the lobby group for the country’s lenders, will form a panel to study making banking easier to understand for consumers. The committee will look at simplifying the terms and conditions of loans and accounts as well as how to make it easier to compare savings rates, the London-based lo... |
2024-09-20 | Bloomberg | Rand Gains as Gold Surges to Record; Bets Current-Account Gap May Narrow | South Africa’s rand strengthened for a second day as gold advanced to a record high and as analysts speculated a report this week will show the nation’s current-account deficit narrowed in the second quarter. The rand appreciated as much as 0.8 percent to 7.0819 per dollar and traded 0.3 percent stronger at 7.1221 by ... |
2024-06-30 | Bloomberg | Shinhan Needs to Expand Brokerage, Insurance Divisions, Han Says | Shinhan Financial Group Co., South Korea ’s largest financial company by market value, needs to seek opportunities to expand its brokerage and insurance divisions, Chairman Han Dong Woo said. Shinhan is not considering any acquisition of a bank, Han told reporters today in Seoul, reiterating that the company will not b... |
2024-10-07 | Bloomberg | Money Fund Managers Can’t Catch a Break | Kevin Kennedy says it’s tougher now to be a money-fund manager than at any point in his three decades in the business. The industry’s annual revenue has fallen 62 percent since 2008 to $4.5 billion, according to Crane Data LLC in Westborough, Massachusetts. Funds charge half as much per dollar invested, and assets have... |
2024-04-23 | Bloomberg | China Hot Market Without Profit Seen in Pretty Lady Card | Huaxia Bank Co. (600015) ’s Pretty Lady credit card, co-issued with Deutsche Bank AG (DBK) , entices women with triple points for cosmetics and fitness-club memberships. The Ms. Magic card from China Citic Bank Corp. (998) dotted with Swarovski crystals offers free beauty treatments and health insurance. They’re part o... |
2024-11-13 | Bloomberg | Fonciere des Murs Group Buys $644 Million of Hotels | Fonciere des Murs SCA and two French banks’ insurance units bought 165 hotels in France from Carlyle Group LP (CG) ’s B&B Hotels for 508 million euros ($644 million). Fonciere des Murs, the sale-and-leaseback company controlled by Fonciere des Regions SA, will own 50.2 percent of a tax-exempt fund buying the budget hot... |
2024-12-15 | Bloomberg | China Machinery Said to Raise $500 Million in Hong Kong IPO | China Machinery Engineering Corp. , the state-owned contractor with projects in Nigeria , Serbia and Ivory Coast, raised $500 million in an initial public offering in Hong Kong, two people with knowledge of the matter said. The Beijing-based unit of China National Machinery Industry Corp. sold 718 million shares at HK$... |
2024-10-11 | Bloomberg | Las Vegas Strip Gambling Falls 8.7% in August on Baccarat | The Las Vegas Strip’s recovery faltered in August as casino gambling fell 8.7 percent on a decline in baccarat revenue. Strip betting declined to $496.9 million, Nevada’s Gaming Control Board said today in an e-mail. Revenue rose 5.2 percent in the first eight months of 2011 from a year earlier. Las Vegas has been stag... |
2024-04-29 | Bloomberg | Samsung Galaxy Breaks Easier Than Apple’s IPhone in Tests | The Samsung Galaxy S4 is bigger, lighter and faster than its predecessor. It’s also easier to break, a phone-insurance firm has concluded. The flagship phone by Samsung Electronics Co. (005930) also scored worse than Apple Inc. (AAPL) ’s iPhone 5 in tests in which the phone was dropped and dunked in water, SquareTrade ... |
2024-09-27 | Bloomberg | Russia Central Bank Mulls Deposit Insurance Rise: Vedomosti Says | Russia ’s central bank and Finance Ministry are putting together a proposal to raise deposit insurance from 700,000 rubles to 1 million rubles, Vedomosti reported, citing a Finance Ministry employee. OAO Sberbank, Russia’s biggest lender, is against an increase, the newspaper said. To contact the reporter on this story... |
2024-02-24 | Bloomberg | New York’s Lawsky Directs Insurers to Expedite Death Benefits | Life insurers must pay beneficiaries the full amount of what is owed on policies and not hold the money in their own accounts without their permission, the New York Department of Financial Services said today. “For years, the life insurance industry has been earning hundreds of millions of dollars by holding life insur... |
2024-07-26 | Bloomberg | FDIC, OCC Nominees Pressed for Views on Dodd-Frank, Basel Rules | President Barack Obama ’s nominees to lead agencies overseeing the biggest U.S. banks told lawmakers that higher capital standards will play a crucial role in efforts to prevent a repeat of the 2008 credit crisis. Martin J. Gruenberg and Thomas Curry, who helped guide the Federal Deposit Insurance Corp. through the 200... |
2024-05-06 | Bloomberg | Putin Victory Shows How Oil Supports Autocrats | Vladimir Putin ’s inauguration to a third term as Russia’s president today, after a first-round victory in March elections, shows he is both shrewd and skillful. He is also very lucky, in a way that should worry us. Putin’s great luck comes from his timing. The fate of the Russian economy -- and the popularity of its l... |
2024-11-09 | Bloomberg | IRS Challenges $8 Billion in Ambac Financial Refunds, Assets, Filing Says | Ambac Financial Group Inc. , the bankrupt holding company for a failed bond insurer, is battling a challenge from the Internal Revenue Service over about $8 billion in tax refunds and other assets, according to court filings. Ambac Financial today sued the U.S. to try to protect $700 million in tax refunds, a day after... |
2024-09-25 | Bloomberg | Axa Outlook Reduced to Negative by Fitch on Lower Rates | Axa SA (CS) , France’s largest insurer, had its outlook lowered by Fitch Ratings to negative as earnings are pressured by bond yields at near-record lows. The outlook for the Paris-based company was cut from stable on “concerns about the group’s ability to improve profitability, notably in the context of low interest r... |
2024-01-18 | Bloomberg | Treasury Asks Dealers for Comment on Policy Changes, Swaps | The U.S. Treasury Department asked bond dealers for their views on how policy and regulatory changes are affecting the government-debt market as part of its regular survey ahead of quarterly meetings and auctions. The Treasury, in a questionnaire sent today, asked for comment on the “current drivers of supply and deman... |
2024-06-03 | Bloomberg | Frank Lautenberg, U.S. Senator From New Jersey, Dies at 89 | Frank Lautenberg , the millionaire businessman turned U.S. senator who wrote laws that raised the legal drinking age to 21 and banned smoking on domestic airplane flights, has died. The five-term Democrat from New Jersey was 89. He died today at New York-Presbyterian Hospital/Weill Cornell Medical Center, according to ... |
2024-08-30 | Bloomberg | Simpson Thacher, DLA Piper, Chadbourne, Hogan: Business of Law | Daikin Industries Ltd. (6367) , the world’s largest air-conditioner maker, will buy Goodman Global Inc. for $3.7 billion to expand its home heating and cooling business in North America. The companies and Goodman owner Hellman & Friedman LLC signed an agreement yesterday under which Osaka , Japan-based Daikin will buy ... |
2024-04-10 | Bloomberg | U.K. Stocks Drop After U.S. Jobs Report Misses Estimates | U.K. stocks fell to the lowest level this year after a U.S. report showed employers added fewer jobs than forecast in the world’s largest economy last month. HSBC Holdings Plc (HSBA) and Rio Tinto Group led declines on the benchmark FTSE 100 (UKX) Index. Randgold Resources Ltd. (RRS) rallied the most since November aft... |
2024-03-13 | Bloomberg | Zurich Says Board Will Propose Ackermann as Chairman | Zurich Financial Services AG (ZURN) , Switzerland’s biggest insurer, said its board of directors will propose Josef Ackermann as chairman when he steps down as chief executive officer of Deutsche Bank AG. (DBK) The board is proposing Ackermann, currently vice chairman, for the job after the company’s March 29 annual s... |
2024-05-20 | Bloomberg | China’s Stocks Rise to Seven-Week High as Trading Volumes Surge | China’s stocks climbed, sending the benchmark index to the highest level in seven weeks. Brokerages rose as trading volumes jumped the most among Asian markets. Citic Securities Co and Haitong Securities Co., the nation’s biggest brokerages, climbed more than 1 percent on the prospect increased trading activity and reb... |
2024-04-26 | Bloomberg | S&P 500 Climbs to Highest Since 2008 on Earnings; Dollar Falls | Stocks surged, sending the Standard & Poor’s 500 Index to its highest level since June 2008, as earnings at companies from Ford Motor Co. (F) to 3M Co. beat analyst estimates. Treasuries rose and the dollar fell versus the euro for a sixth day as a Federal Reserve policy meeting began. The S&P 500 increased 0.9 percent... |
2024-02-15 | Bloomberg | Yen Yields Frozen by BOJ Skip G-7 Jump on Slowdown | Japan’s debt yields are the lowest in seven months relative to its major economic peers as a surprise contraction in the world’s third-largest economy cements expectations the central bank will print more money. Yields on Japanese government bonds declined to 92 basis points below the rates on an index of sovereign bon... |
2024-10-19 | Bloomberg | Lew Says Obama Frustrated With Health-Care Website Difficulties | U.S. Treasury Secretary Jacob J. Lew said “there’s no one more frustrated” than President Barack Obama with the difficulties on the government’s health-care program website. “The huge outpouring of interest shows how important it is that we get this right,” Lew said in excerpts from an interview with NBC’s “Meet the Pr... |
2024-10-20 | Bloomberg | China Day Ahead: Krugman Says Trade War is Looming; Sinofert Buys Potash | Nobel Prize-winning economist Paul Krugman said China is headed for a “trade conflict” with the U.S. and other western countries as tensions rise about how to rebalance the global economy. “What China is doing is functionally equivalent to having large export subsidies and large import tariffs,” Krugman, 57, said in a ... |
2024-11-30 | Bloomberg | Islands See ‘End of History’ as Goals Die at UN Talks | The Maldives, Kiribati and Tuvalu risk extinction from rising seas because nations aren’t stepping up commitments to cut greenhouse gases, a bloc of 43 island countries said as United Nations climate talks began in Mexico. Dessima Williams , the ambassador of Grenada who heads the Alliance of Small Island States, said ... |
2024-04-30 | Bloomberg | BlueMountain Buys Lexmark Stake as Swaps Drop: Corporate Finance | BlueMountain Capital Management LLC, the $13.6 billion hedge-fund firm led by Andrew Feldstein, is targeting Lexmark International Inc. (LXK) for its biggest equity wager as the printer maker bolsters its creditworthiness. The investment manager led by the former JPMorgan Chase & Co. executive who helped create the cre... |
2024-11-30 | Bloomberg | First Woman Elected to Run Cook County Invades Illinois Paradise of Graft | Toni Preckwinkle runs the second- largest U.S. county, a storied sewer of corruption whose embrace of the dark side began more than 140 years ago when commissioners accepted bribes for a contract to paint the seat of local government in Chicago -- with whitewash. Burying this legacy of malfeasance is just the start of ... |
2024-06-04 | Bloomberg | Greco Faces Task of Reviving Generali’s 9-Year-Low Profit | Assicurazioni Generali SpA (G) Chief Executive Officer-designate Mario Greco faces the task of reviving the largest Italian insurer’s profit that is at a nine- year low as the European debt crisis threatens to engulf Italy. The 52-year-old, who as CEO of Riunione Adriatica di Sicurta SpA expanded that company before it... |
2024-07-30 | Bloomberg | Sebelius Takes Pitch on Health Law to Republican States | The top two U.S. health officials are planning multiple trips in the coming months to states led by Republicans hostile to the Affordable Care Act, seeking success there for President Barack Obama ’s health-care overhaul despite opposition. With 63 days left before the law’s insurance exchanges open for customers on Oc... |
2024-03-05 | Bloomberg | FSA Report to Offer Explanation on Missed Libor Warnings | The U.K. finance regulator, facing lawmaker criticism that it missed warning signs on the rigging of benchmark interest rates for years, may say there was no clear way for it to spot the manipulation. The Financial Services Authority will issue a report today after an internal audit of the agency’s contact with Barclay... |
2024-09-19 | Bloomberg | Drug Spending Targeted in Obama’s $320 Billion Health Cut | President Barack Obama ’s deficit- trimming proposal would cut $320 billion from U.S. health programs in prescription drug and nursing home spending and by increasing individuals’ payments for Medicare coverage. The biggest reduction is $135 billion in drug prices the government pays companies led by New York-based Pfi... |
2024-12-30 | Bloomberg | U.S. Economy: Jobless Claims Drop to Two-Year Low | Claims for jobless benefits dropped last week to the lowest level in two years, showing the U.S. labor market is taking a turn for the better as the economy accelerates into 2011. Applications for unemployment assistance decreased by 34,000 to 388,000 in the week ended Dec. 25, breaking the 400,000 level for the first ... |
2024-11-25 | Bloomberg | South African Police Will Probe Krejcir Assault Allegations | South Africa ’s Independent Police Investigative Directorate will probe allegations by Czech fugitive Radovan Krejcir that he was assaulted by police after his Nov. 22 arrest on attempted murder and kidnapping charges. Krejcir is wanted in his home country on fraud and conspiracy to commit murder charges and is fightin... |
2024-11-28 | Bloomberg | Allstate Says October Disasters Cost $1 Billion Led by Sandy | Allstate Corp. (ALL) , the largest publicly traded U.S. auto and home insurer, said catastrophes cost $1.08 billion before taxes in October as superstorm Sandy lashed states including New York and New Jersey. The projection is net of reinsurance, Northbrook, Illinois- based Allstate said today in a statement. Autos rep... |
2024-02-20 | Bloomberg | Singapore’s OCBC Profit Climbs More-Than-Estimated 18% on Loan Growth | Oversea-Chinese Banking Corp. (OCBC) , Southeast Asia ’s second-largest bank, posted an 18 percent increase in fourth-quarter profit, beating analysts’ estimates as loan demand climbed. Net income in the three months ended Dec. 31 rose to S$594 million ($475 million) from S$505 million a year earlier, the Singapore-bas... |
2024-11-11 | Bloomberg | Wisconsin Stripping Billions of Ambac Assets, Policyholders Say | Ambac Assurance Corp. policyholders would be stripped of billions of dollars of net operating losses by Wisconsin regulators in a restructuring plan that favors the bond insurance company’s bankrupt parent, Ambac Financial Group Inc., according to a statement yesterday. The Ambac companies have been using about $7 bill... |
2024-09-11 | Bloomberg | Belgium’s Savers Reinforce Government Yield Drop: Euro Credit | Belgium ’s savers are stashing away enough money to convince bondholders that the nation’s debt remains lucrative even as the government cuts growth forecasts. Since December, when savers bought a record 5.73 billion euros ($7 billion) of retail bonds, Belgium’s 10-year yield has fallen to 2.65 percent from an 11-year ... |
2024-07-31 | Bloomberg | Edison Profit Falls on Low Power Prices at Generation Unit | Edison International (EIX) , the owner of California’s second-largest electric utility, said quarterly profit fell as low power prices dragged down results at its generation unit and a rate case delay cut into utility earnings. Net income fell to $103 million, or 23 cents a share, from $191 million, or 54 cents, a year... |
2024-10-02 | Bloomberg | Occupy Wall Street Caves to Capitalism | Two years ago, Occupy Wall Street protesters in New York's Zuccotti Park grabbed headlines with boisterous attacks on the banking industry served with a generous helping of anti-capitalist sentiment. Now Occupy is getting its own debit card. Occupy Money Cooperative , a group that includes a Cornell University law prof... |
2024-06-23 | Bloomberg | Millionaires' Riches Return to Pre-Crisis Levels, Study Finds | Asia-Pacific’s number of millionaires equaled Europe’s for the first time last year as the region powered the global economy’s recovery, according to a report by Capgemini SA and Merrill Lynch & Co. The number of individuals with at least $1 million of investable assets in Asia-Pacific rose 26 percent to 3 million in ... |
2024-03-24 | Bloomberg | Randy Paar Discusses Insurance Law After Japan Quake: BLAW | Randy Paar, partner at Kasowitz Benson Torres & Friedman LLP, talks with Bloomberg Law's Lee Pacchia about the impact the recent earthquake and tsunami in Japan has had on the insurance and reinsurance industries. (Source: Bloomberg) Running time 08:48 -0- Mar/24/2011 19:11 GMT |
2024-06-16 | Bloomberg | Pimco's Gross Insures G-7 Countries' Debt Rather Than Buying It | Bill Gross , manager of the world’s biggest bond fund , opted to insure debt from developed countries rather than buy it earlier this year. Gross’s Pimco Total Return Fund increased the credit- default swaps it sold on bonds from Group of Seven nations such as the U.S. and the U.K. to more than $3 billion in the first... |
2024-09-12 | Bloomberg | Cowdery’s Second Coming as Top U.K. Insurance Dealmaker Falters | Clive Cowdery has left investors with losses of 30 percent after failing to repeat the success of the strategy that won him a reputation as London ’s top insurance dealmaker. He and his team still profited from management fees. Resolution Ltd. (RSL) , which Cowdery founded in 2008, has missed its targeted returns to sh... |
2024-01-25 | Bloomberg | USDA ‘Plant Hardiness’ Map Shifts Temperature Zones North | Many parts of the U.S. may be getting warmer, according to a new, interactive Department of Agriculture map that shows the best places in the country to grow different plants. The “ Plant Hardiness Zone Map ,” an update of a 1990 static version, shifts temperatures up one 5-degree increment across much of the country, ... |
2024-02-07 | Bloomberg | Credit Suisse Net Misses Estimates; Cost-Cut Goal Raised | Credit Suisse Group AG, Switzerland’s second-largest bank, raised its target for cost reductions for a third time in seven months as it posted fourth-quarter earnings that fell short of analysts’ estimates. Credit Suisse will seek an additional 400 million Swiss francs ($441 million) in cost savings by the end of 2015,... |
2024-05-17 | Bloomberg | U.S. April Leading Economic Indicators (Text) | Following is the text of the U.S. leading economic indicators from the Conference Board. The Conference Board Leading Economic Index for the U.S. declined 0.1 percent in April to 95.5 (2004 = 100), following a 0.3 percent increase in March, and a 0.7 percent increase in February. Says Ataman Ozyildirim, economist at Th... |
2024-07-06 | Bloomberg | NHK Cancels Sumo Broadcast For First Time in 57 Years Amid Betting Scandal | Japan’s public broadcaster canceled its television coverage of a sumo tournament for the first time in 57 years in response to complaints by viewers about some wrestlers’ gambling and signs of links to organized crime. NHK today said it won’t air the 15-day tournament that starts on July 11 in Japan’s central city of ... |
2024-08-26 | Bloomberg | TD-CIBC Deal to Extend Bank Card-Buying Spree: Corporate Canada | Toronto-Dominion Bank (TD) could reach an agreement to acquire about half of Canadian Imperial Bank of Commerce’s Aerogold Visa portfolio, expanding its credit-card offerings as banks try to counter a consumer-lending slowdown. Toronto-Dominion said today in a statement that it is continuing discussions with Canadian I... |
2024-03-01 | Bloomberg | Enterprise Group of Ghana 2011 Profit More Than Doubles | Enterprise Group Ltd. (EGL) of Ghana, the West African nation’s second-biggest insurer by market value, said profit for the year through December 2011 more than doubled as net premium income increased 45 percent. Net income climbed to 17.5 million cedis ($10.3 million) from 8.4 million cedis the year before, while net ... |
2024-10-02 | Bloomberg | Canada Stocks Fall as Oil Shares Slide Amid U.S. Shutdown | Canadian stocks fell, after rising the most in almost two weeks yesterday, as wireless carriers and oil producers retreated while investors watched for progress in efforts to end a U.S. budget impasse. Canadian Natural Resources Ltd. lost 1.7 percent as U.S. crude production rose. BCE Inc., Rogers Communications Inc. a... |
2024-03-11 | Bloomberg | U.K.’s FTSE 100 Declines to Three-Month Low After Japan Tsunami | U.K. stocks fell to a three-month low, led by insurers, after the biggest earthquake on record in Japan shook buildings across Tokyo and unleashed a seven-meter- high tsunami that killed hundreds. RSA Insurance Group Plc dropped 2.6 percent and Prudential Plc (PRU) slid 1.9 percent. Dixons Retail Plc (DXNS) , the U.K’s... |
2024-11-18 | Bloomberg | Kidney Artery Stents Fail to Provide Greater Heart Help | A procedure to clear and prop open clogged kidney arteries didn’t offer a cardiovascular benefit to patients more than drug therapy, researchers said, underscoring the need to use medicines first to reduce heart disease. The study released today builds on two previous trials that also found the procedure known as renal... |
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