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2024-09-24 | Bloomberg | Star Scientific, Reynolds End Patent Suit, Filing Shows | Star Scientific Inc. (STSI) and R.J. Reynolds Tobacco Co. said they have settled their patent- infringement dispute over a way to reduce carcinogens in cigarettes. Financial terms weren’t disclosed in documents filed today in federal court in Greenbelt, Maryland , seeking dismissal of lawsuits. The companies said the a... |
2024-03-02 | Bloomberg | St. Joe Climbs as Quarterly Loss Narrows on Lower Land Impairment Charges | St. Joe Co., the Florida landholder that announced a management shakeup this week after its largest shareholder complained about wasteful spending, reported a narrower loss as it reduced charges for stalled projects. The net loss was $2.7 million, or 3 cents a share, for the quarter ended Dec. 31, compared with a loss ... |
2024-09-23 | Bloomberg | China’s Stocks Fall to 14-Month Low on Policy, Economy Outlook | China ’s stocks fell, dragging the benchmark index to its lowest level in more than 14 months, as mounting concerns over the faltering global economy prompted speculation the government will take steps to support markets. Bank of Communications Co. dropped to the lowest level in almost seven weeks after the central ban... |
2024-05-13 | Bloomberg | ‘Trigger-Happy’ Investors Boost IPO Insurance Through Litigation | Investor lawsuits filed in the wake of share sales by Groupon Inc. (GRPN) and Deutsche Telekom AG are boosting the appeal of insurance for public offerings. Almost 19 percent of the 3,510 initial public offerings on a U.S. stock exchange between 1996 and 2009 were defendants in at least one U.S. securities class-action... |
2024-05-31 | Bloomberg | Axa’s Deputy CEO Sees Inflows at Investment Managers Fund Unit | Axa SA (CS) , Europe’s second-largest insurer, is seeing improving money inflows at its Axa Investment Managers fund division, Deputy Chief Executive Officer Denis Duverne said. “We should be positive in the first half,” Duverne said today at a media seminar near Bordeaux, France of the unit’s money flows. AllianceBern... |
2024-08-27 | Bloomberg | Rich Are Admirable Greedy People Paying Too Few Taxes | Americans admire the rich. They just don’t like them very much. A Pew Research Center survey shows an overwhelming majority of people have high regard for those they consider wealthy, with almost half saying they’re smarter and harder workers. At the same time, a majority says the wealthy are greedy and pay too little ... |
2024-03-16 | Bloomberg | S&P 500 Erases Advance for Year as Nikkei Futures Point Lower; Yen Climbs | U.S. stocks sank, erasing the 2011 gain for the Standard & Poor’s 500 Index, and Treasuries rallied as Japan ’s nuclear crisis worsened. The yen rose to a post-World War II high versus the dollar on speculation investors will buy the currency to fund rebuilding projects. The S&P 500 lost 1.95 percent to 1,256.88 at 4 p... |
2024-04-15 | Bloomberg | Stanford’s Levin Wins John Bates Clark Economist Award | Stanford University professor Jonathan Levin won the John Bates Clark medal for the economist under the age of 40 who contributed most to the profession. “Levin is a leading scholar in the fields of industrial organization and microeconomic theory, whose work stands out for its combination of theoretical depth, empiric... |
2024-04-29 | Bloomberg | India’s Rupee Advances on Optimism Fed Policy Will Spur Inflows | India ’s rupee rose on speculation U.S. policy makers will maintain this week economic stimulus measures that have spurred fund flows into emerging markets. The Federal Reserve will start a two-day policy meeting tomorrow after a government report last week showed the world’s largest economy expanded less than analysts... |
2024-04-23 | Bloomberg | Israel Stocks: Ampal-American Israel and A-Online Capital | Israel ’s TA-25 index declined the most in more than a week, falling 1.2 percent to 1,148.28 at the 4:30 p.m. close in Tel Aviv. Investors traded about 736 million shekels ($196 million) of shares and convertible securities, according to bourse data. The following stocks rose or fell today. Symbols are in parentheses. ... |
2024-05-31 | Bloomberg | Obese Children Navigate Minefield of Calories and Bad Ads | The obesity problem in the U.S. has two distinct parts. One has to do with adults, and in an earlier editorial we described ways to change the prevailing food environment to encourage grown-ups to eat less and better. Now the trickier side of the equation: children, whose food world is shaped at home, at school and by ... |
2024-01-03 | Bloomberg | Housing Lobby’s Win Costing U.S. $600 Billion: Mortgages | Congressional efforts to reduce the U.S. deficit revived tax breaks for mortgage insurance and extended interest deductions for homeowners that will cost the government $600 billion over five years. “This is a meaningful win for the housing lobby generally and more specifically the mortgage insurance industry,” said Is... |
2024-12-29 | Bloomberg | Threat to Close Strait of Hormuz Could Cause Self-Inflicted Wound For Iran | It would be relatively easy for Iran to make good on its threat to close the strategic waterway that carries oil tankers from the Persian Gulf -- and it would probably hurt itself most by taking such action. “Iran is as reliant, if not more reliant, on the Strait of Hormuz than any other country,” said Ali Nader of the... |
2024-06-23 | Bloomberg | House Backs Off $150 Billion Reserve Fund for Unwinding Failed U.S. Firms | U.S. House negotiators relented on their proposal to set up a $150 billion reserve fund to pay for the government’s liquidation of failing financial firms, agreeing with the Senate that those costs could be recouped from creditors and the industry after a collapse. House negotiators indicated their support for the Sen... |
2024-01-26 | Bloomberg | Chubb Authorizes Share Buyback as Profit Beats Estimates | Chubb Corp. (CB) , the insurer of commercial property and high-end homes, said it would buy back as much as $1.2 billion in shares after posting fourth-quarter profit that beat analysts’ estimates as sales advanced. Net income slipped 27 percent to $452 million, or $1.60 a share, from $620 million, or $2.02, a year ear... |
2024-07-26 | Bloomberg | Baker & McKenzie, SNR Denton, Jones Day: Business of Law | Baker & McKenzie LLP’s latest outpost will open on Aug. 1 in Casablanca, Morocco , a city of 4 million people where the firm’s new lawyers will focus on corporate deals and disputes in North Africa. It will be the Baker & McKenzie’s third office in Africa and 71st globally. Kamal Nasrollah, a partner who joins Baker & ... |
2024-09-29 | Bloomberg | U.S. Aug. FDIC Temporary Liquidity Guarantee Program | Following is the monthly report on debt issuance under the Temporary Liquidity Guarantee Program from the Federal Deposit Insurance Corporation. SOURCE: FDIC To contact the reporter on this story: Alex Tanzi in Washington at atanzi@bloomberg.net To contact the editor responsible for this story: Marco Babic at ... |
2024-12-21 | Bloomberg | Judges in Lawsuits Over U.S. Health-Care Overhaul Hold Industry Stocks | Three federal judges overseeing challenges to the Obama administration’s health-care overhaul own shares of companies in the industry, including insurers and medical-device makers, the government watchdog group Center for Public Integrity reported. The Washington-based group based its finding on an analysis of financia... |
2024-03-11 | Bloomberg | BP, Glencore, Prudential, Siemens: Europe Equity Preview | The following companies’ shares may have unusual moves in European (SXXP) trading. Stock symbols are in parentheses. The Stoxx Europe 600 Index (SXXP) rose 0.5 percent to 265.44. The Stoxx 50 Index (SX5P) gained 0.5 percent to 2,489.19. The Euro Stoxx 50 Index (SX5E) , a benchmark measure for nations using the euro, cl... |
2024-03-11 | Bloomberg | Obama Campaign Plans Bid to Capture Women’s Vote in November | President Barack Obama ’s re- election campaign is planning to seize upon the recent partisan bickering over health care, contraception and abortion to garner the women’s vote in the November presidential election. The Chicago-based campaign plans a “Nurses for Obama” event March 13, including mailings in many states a... |
2024-06-29 | Bloomberg | Madoff Trustee’s Tremont Accord Defeats Challenge | A $1 billion settlement between the liquidator of Bernard Madoff ’s brokerage and Tremont Group Holdings Inc. survived an investor challenge, helping to free up money for other investors in the Ponzi scheme. Court challenges had been tying up the majority of the $9 billion that trustee Irving Picard has raised mostly t... |
2024-11-23 | Bloomberg | Sandy Seen Boosting U.S. With as Much as $240 Billion Rebuilding | John Cataneo is working his 20 employees overtime and still can’t keep up with demand from customers who need plumbing repaired after superstorm Sandy. He says he’s hired two new workers and may need more. “We’re just not getting to some people that are asking for help,” said Cataneo, co-owner of Gateway Plumbing & Hea... |
2024-07-15 | Bloomberg | Tests Will Stress Financing Ties That Bind Banks to Countries: Euro Credit | Europe ’s bank stress tests will reveal how reliant nations are on their domestic lenders for funds, while detailing how much government support the finance industry needs to stay solvent. “Banks are only as strong as the sovereign,” said Michael Riddell, a London-based fund manager at M&G Investments, which oversees a... |
2024-03-07 | Bloomberg | Euro Near 4-Month High Versus Dollar Ahead of Investor Confidence Report | The euro traded 0.2 percent from the strongest in four months against the dollar before data that economists said will show investor confidence in the region reached the highest since 2007. The 17-nation currency touched a six-week high against the pound on speculation European Central Bank President Jean-Claude Triche... |
2024-01-19 | Bloomberg | Diane Garnick Seeks Lift for Wall Street Women With New Firm | Diane Garnick, a former investment strategist at Invesco Ltd. (IVZ) , said she is opening an asset management firm today that she hopes will help tilt the balance of the top Wall Street jobs more in favor of women. Garnick, who turns 45 today, said she is founding New York- based Clear Alternatives LLC with a staff of ... |
2024-08-04 | Bloomberg | Stocks Slide Most Since ’09 as Two-Year Yield Reaches Record Low | A global rout in equities drove the Standard & Poor’s 500 Index to its worst slump since February 2009, while two-year Treasury yields plunged to a record low amid concern the economy is weakening. The yen pared losses, recovering from the biggest drop versus the dollar since 2008 that was triggered by Japan selling it... |
2024-08-12 | Bloomberg | Ryan Pick Sharpens Romney Duel With Obama Over Budget | Mitt Romney moved a partisan split over budget cuts and government’s size front and center in the presidential race by selecting Paul Ryan as his running mate, choosing a lawmaker seen by Republicans as a policy visionary and by Democrats as a fiscal extremist. Along with energizing his base, Romney’s vice presidential... |
2024-08-27 | Bloomberg | Wal-Mart to Include Same-Sex Partners in Company Benefits | Wal-Mart Stores Inc. (WMT) will now allow workers’ same-sex partners to participate in its company health benefits, bringing policies at the largest private employer in the U.S. in line with most of the nation’s top businesses. Full-time associates’ spouses and domestic partners will be eligible for coverage in medical... |
2024-10-25 | Bloomberg | Ibovespa Drops Third Day After Hering Earnings Miss; OGX Plunges | The Ibovespa fell for a third day as consumer stocks dropped after retailer Cia. Hering (HGTX3) posted third-quarter earnings that were below analysts’ estimates. Oil company OGX Petroleo e Gas Participacoes SA tumbled after Valor Economico reported a round of talks with bondholders ended on Oct. 23 with no agreement r... |
2024-03-08 | Bloomberg | Greece Readies Record Debt Swap | Greece moved closer to sealing the biggest sovereign restructuring in history as investors indicated they’ll participate in the nation’s debt swap. Holders of about 60 percent of the Greek bonds eligible for the deal, including Greece’s largest banks, most of the country’s pension funds and more than 30 European banks ... |
2024-06-04 | Bloomberg | Republican Hopefuls Woo Social Conservatives at Faith Conference | Republican presidential hopefuls sought support from Christian conservatives, with some choosing to give more weight to economic matters than to social issues, such as abortion, that are central to a voting bloc the party relies on. U.S. Representative Michele Bachmann , who has hinted that she may be interested in a W... |
2024-11-26 | Bloomberg | Standard & Poor’s Former Credit Chief Adelson Joins BondFactor | Mark Adelson , Standard & Poor’s former chief credit officer who left in August after being demoted last year, was hired by BondFactor Co., a municipal debt insurance startup. Adelson joined the company as chief strategy officer and started today, he said in an e-mailed statement. BondFactor “plans to offer a municipal... |
2024-01-18 | Bloomberg | Harrisburg Officials Ignored Incinerator Risk, Audit Says | Harrisburg (9661MF) officials and advisers knew there was “substantial risk” that a city incinerator wouldn’t repay its debt and proceeded with bond deals anyway, according to an audit of the financings that drove the Pennsylvania capital into insolvency. The Harrisburg Authority (26659MF) , the agency that owns the tr... |
2024-05-31 | Bloomberg | Carbon Traders Feel Wind in Their Faces Biking to Expo | The road from Rotterdam to Cologne is lined with ancient Roman forts, quaint Dutch villages and German industrial facilities. Three dozen bankers, traders, policy experts and I noted these and much else on a three-day, 360-kilometer (224-mile) cycling trip organized as a prelude to a major annual climate change finance... |
2024-09-06 | Bloomberg | NZX Developing Milk Hedge for Farmers as Currency Offsets Gains | NZX Ltd. (NZX) , the operator of New Zealand ’s stock exchange, is developing a hedging tool to help dairy farmers protect themselves against volatile milk prices and currency swings. NZX wants to introduce so-called dairy swaps within the next year, the exchange’s Chief Executive Officer Tim Bennett said in an intervi... |
2024-08-08 | Bloomberg | A New Broom for Indian Politics | Last week, the Aam Aadmi ("Common Man's") Party of India, the most unusual new political formation of substance to have appeared here in the last two decades, formally announced its election symbol. The icon of the party led by the anti-corruption crusader (and former civil servant) Arvind Kejriwal is the humble Indian... |
2024-10-08 | Bloomberg | Bulgarian Premier Borissov Survives Opposition No-Confidence Vote Motion | Bulgarian Prime Minister Boiko Borissov’s minority Cabinet survived its first no-confidence vote in Parliament demanded by opposition parties for mismanaging the health-care system. Parliament rejected the motion today in a 144-70 vote, with one abstention, of the 215 lawmakers present in the 240-seat assembly. The vot... |
2024-07-13 | Bloomberg | Storebrand Plans to Meet Capital Targets Without New Equity | Storebrand ASA (STB) , Norway ’s second- largest publicly traded insurer, said it plans to reduce costs as it tries to meet stricter European capital requirements without selling new shares. Storebrand will cut costs by at least 400 million kroner ($66 million) by 2014 and lower risk in its investment portfolios to mee... |
2024-09-09 | Bloomberg | HHS Questions Republican Scrutiny of Health Navigators | The Obama administration is pushing back against a Republican investigation of the nonprofit groups enlisted to help people navigate their Affordable Care Act options, saying the inquiry may impede the law’s implementation. Republicans on the House Energy and Commerce Committee wrote last month to 51 “navigator” groups... |
2024-05-04 | Bloomberg | BNP Paribas’s Quarterly Profit Advances 15% on French, U.S. Retail Banking | BNP Paribas SA, Europe ’s largest bank, said first-quarter profit rose 15 percent, helped by its French and U.S. consumer-banking businesses. Net income advanced to 2.62 billion euros ($3.9 billion) from 2.28 billion euros a year earlier, the Paris-based company said in an e-mailed statement today. That beat the 2.22 b... |
2024-09-30 | Bloomberg | Christie Said to Be Considering Entering 2012 Republican Presidential Race | New Jersey Governor Chris Christie , who has said he wouldn’t run for president in 2012, is actively considering entering the race and may make a decision within a few days, said a Republican donor who asked not to be identified. The governor, 49, is being pressured by Republican leaders and benefactors to enter the ra... |
2024-03-27 | Bloomberg | China Life Shares Rally as Investors Bet Worst is Behind | China Life Insurance Co. (2628) climbed the most in more than a month in Hong Kong trading as investors expect a rebound in earnings after the nation’s biggest insurer reported a 46 percent drop in profit last year. The stock rose 2.7 percent to HK$20.75 at the close in Hong Kong, the biggest gain since Feb. 17. Net in... |
2024-04-17 | Bloomberg | Schaeuble to Press G-20 for Debt Cuts Armed With German Example | German Chancellor Angela Merkel ’s Cabinet backed a spending plan that will yield budget surpluses this year and next, strengthening the government’s hand as it presses international partners to focus on cutting debt. Ministers meeting in Berlin today adopted the annual Finance Ministry report to the European Commissio... |
2024-05-30 | Bloomberg | Treasuries’ May Loss Is Largest Since 2009 on Fed Tapering Views | Treasuries headed for the steepest monthly loss in three years amid speculation the Federal Reserve could curtail monetary stimulus if policy makers see signs of sustained improvement in economic growth. U.S. debt has tumbled 1.8 percent in May as of yesterday, the most since December 2009, according to Bank of America... |
2024-09-09 | Bloomberg | UNION INSURANCE August Sales Fall 42.20% (Table) : 2816 TT | UNION INSURANCE said unconsolidated sales in August fell 42.20% to NT$239,630,000 from NT$414,619,000, according to a statement filed to the Taiwan Stock Exchange. (Figures are in thousands of New Taiwan dollars) ================================================================= 8/2011 8/2010 Sales 239,630 ... |
2024-02-06 | Bloomberg | Malone’s Liberty to Acquire Virgin Media for $16 Billion | John Malone ’s Liberty Global Inc. (LBTYA) agreed to buy U.K. cable-television provider Virgin Media Inc. (VMED) for $16 billion in cash and stock to challenge Rupert Murdoch in Europe ’s biggest pay-TV market. The deal values Britain’s second-biggest pay-TV company at $47.87 a share, the companies said in a statement.... |
2024-03-01 | Bloomberg | Bernanke Quells Talk of Fresh Fed Stimulus to Ease Jobless Rate | Federal Reserve Chairman Ben S. Bernanke said elevated unemployment and subdued inflation mean interest rates are likely to stay low, without offering any sign that the economy needs an additional monetary boost. Bernanke repeated testimony today in the Senate that he delivered yesterday in the House, describing “posit... |
2024-08-02 | Bloomberg | Kuwait Projects First-Half Profit Rises Fourfold to $61 Million | Kuwait Projects Co., the country’s biggest privately owned investment company, said first-half profit rose fourfold on increased growth in commercial banking and insurance. Net income rose to 16.6 million dinars ($60.7 million), or 14.04 fils per share, from 4.2 million dinars, or 3.58 fils a share, a year earlier, the... |
2024-09-23 | Bloomberg | Blackrock, Pimco, Fannie Target Banks Using Texas Lawyer's Clearing House | After he bought his Dallas home last year, attorney Talcott Franklin found a novel way to eliminate a musty odor emanating from a basement well installed as part of a previous owner’s air-raid shelter: He used boat hatches to seal it. This year, the former partner at lobbying firm Patton Boggs LLP also found a unique s... |
2024-02-15 | Bloomberg | Catholic Bishops Join the Culture War on Obama: Margaret Carlson | I was surprised when the bishops didn’t declare victory last week. Heeding their protests, President Barack Obama relieved Catholic institutions of the indignity of having to pay directly for contraception for their employees. In the compromise worked out by the White House, insurance companies would instead provide co... |
2024-03-06 | Bloomberg | Buffett’s Gold Dis Baffles State Street’s Goolgasian | Warren Buffett is a great investor, says Christopher Goolgasian, a vice president at State Street Global Advisors Inc., which markets a $74 billion gold fund. The Oracle of Omaha just has it wrong when it comes to the metal. “While he won’t own gold, he also never owned Apple (up around 1,500% since January of 2000) or... |
2024-10-26 | Bloomberg | AIG Says Benmosche Has Cancer, Undergoing Treatment | Robert Benmosche , chief executive officer of American International Group Inc. , said he was undergoing treatment for cancer and remained committed to repaying the insurer’s $182.3 billion taxpayer bailout. Benmosche, 66, began an “aggressive round of chemotherapy” last week, he told employees yesterday in a letter. T... |
2024-03-01 | Bloomberg | Emerging Stocks Fall From 7-Month High | Emerging-market stocks fell from a seven-month high on concern the U.S. and China will refrain from further steps to ease monetary policy as their economies improve, curbing appetite for emerging-market assets. The MSCI Emerging Markets Index (MXEF) declined 0.5 percent to 1,073.9 as of 3 p.m. in London , snapping a tw... |
2024-07-12 | Bloomberg | Leslie Controls Files Prepackaged Chapter 11 Reorganization in Delaware | Leslie Controls Inc., a unit of Circor International Inc. that equipped U.S. ships in wartime, filed a pre-negotiated Chapter 11 reorganization to resolve asbestos liability claims. The valve-maker listed assets of as much as $50 million and debt of as much as $100 million in Chapter 11 documents filed today in U.S. B... |
2024-05-15 | Bloomberg | Euro-Style Bail-In Plan Means Bondholder Wipe-Out: Brazil Credit | Brazil is drafting rules that would wipe out some creditors of failing banks in an effort to avoid taxpayer rescues, echoing European proposals to make bondholders shoulder more costs after three bailouts in as many years. The central bank said May 6 it had prepared a draft of a “bail-in” proposal that would impose los... |
2024-09-30 | Bloomberg | Australian, N.Z. Equities: Anvil, Goodman, QBE, Sonic, Santos | Australia ’s S&P/ASX 200 Index was little changed at 4,008.60 at the 4:10 p.m. close of trading in Sydney after swinging between gains and losses. The gauge completed its sixth straight monthly drop and second consecutive quarterly decline. New Zealand ’s NZX 50 Index (NZSE50FG) climbed 1.3 percent to 3,343.35 at the 5... |
2024-04-26 | Bloomberg | Stocks Cheapest Since 1990 as Analysts Boost Estimates | Even after the biggest rally since the 1930s, U.S. stocks remain the cheapest in two decades as the economy improves. Profit estimates for Standard & Poor’s 500 Index companies from Apple Inc. to Intel Corp. and CSX Corp. have climbed 9.3 percent on average in April, twice the gain in their prices and the largest mont... |
2024-07-08 | Bloomberg | Merkel's Government Seeks Health-Care Cost Cuts at Expense of Wholesalers | Chancellor Angela Merkel ’s coalition aims to cut 400 million euros ($506 million) per year in German health-care costs by limiting margins for drug wholesalers, the HIB parliamentary newsletter said. Wholesale companies will receive 60 cents per drug package plus 1.7 percent of the wholesale price up to a maximum of ... |
2024-04-29 | Bloomberg | Korea Revives Plan to Sell Woori Stake | South Korea set a July 27 deadline for preliminary bids to buy a stake in Woori Finance Holdings Co., kicking off the government’s third attempt to unload its holding in the nation’s largest financial company by assets. Potential buyers must offer for a minimum 30 percent stake in Woori, (053000) the Public Fund Oversi... |
2024-06-12 | Bloomberg | Nordea Sells Its Polish Units to PKO Bank for 694 Million Euros | Nordea Bank AB (NDA) , Scandinavia’s largest bank, sold its Polish units to the country’s biggest lender PKO Bank Polski SA for 694 million euros ($925 million). Nordea agreed to sell its bank, financing and life insurance units to PKO, according to separate regulatory statements from both companies. PKO agreed to pay ... |
2024-09-29 | Bloomberg | Nationwide to Buy Harleysville for at Least $1.6 Billion in Expansion East | Nationwide Mutual Insurance Co., the eighth-largest U.S. personal auto insurer, agreed to buy rival Harleysville Group Inc. (HGIC) in a deal that values the Pennsylvania-based target company at about $1.6 billion. Nationwide will pay $60 a share in cash for each publicly held Harleysville share, the two companies said ... |
2024-09-17 | Bloomberg | Oil Trades Near Four-Month High on Signs of Improving Economy | Oil traded near the highest price in four months before reports forecast to show a strengthening economy in the U.S., the world’s biggest consumer of crude. Futures were little changed in New York after surging as high as $100.42 a barrel on Sept. 14 as the Federal Reserve pledged to start buying U.S. mortgage securiti... |
2024-03-06 | Bloomberg | Mortgage Forgiveness Will Help U.S. Homeowners, Stevens Says | The U.S. government needs to do more to help homeowners stay in their properties, including exploring options for principal forgiveness with mortgages held by Fannie Mae and Freddie Mac, according to David H. Stevens, chief executive officer of the Mortgage Bankers Association. Principal reductions and programs that lo... |
2024-02-13 | Bloomberg | Greenberg’s Starr Wins U.S. Approval for Crop Insurance | Maurice “Hank” Greenberg ’s Starr Cos. is expanding in U.S. crop insurance, joining Validus Holdings Ltd. in bets on agriculture after last year’s drought fueled higher costs for the coverage. The Starr Indemnity & Liability Co. unit won approval to participate in a government-backed program from the U.S. Department of... |
2024-06-18 | Bloomberg | EU Says Ban on Insuring Iranian Oil Will Proceed as Planned | Europe’s sanctions on insurance for Iranian oil shipments won’t be lifted or suspended as Asian importers look to governments to cover cargoes. Insuring ships carrying crude from the Persian Gulf country will be banned when the European Union’s embargo takes effect July 1, Michael Mann , foreign-policy spokesman for th... |
2024-09-02 | Bloomberg | U.S. Employment Situation Report for August (Text) | Following is the text of the August employment report from the Labor Department. Nonfarm payroll employment was unchanged (0) in August, and the unemployment rate held at 9.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment in most major industries changed little over the month. Health care conti... |
2024-03-04 | Bloomberg | U.S. Crop-Insurance Rates Set Above Average for Corn, Soy, Wheat | U.S. crop-insurance rates for corn, soybeans and wheat are being set higher than this year’s projected cash prices, encouraging more planting a year after a drought led to record damage payout to farmers. Farmers in most growing regions will be guaranteed a price of $5.65 a bushel for corn, the country’s biggest crop, ... |
2024-02-22 | Bloomberg | U.K. FSA’s Ross Said to Battle for EU Market Regulation Post | Verena Ross, international director of the U.K.’s Financial Services Authority, is vying with European Commission official Maria Velentza for the top administrator job at the EU’s market regulator, according to three people familiar with the selection process. European financial regulators may vote as soon as today at ... |
2024-03-30 | Bloomberg | Bank-Client Compensation in U.K. Rose 11% in Second Half of 2010 | Compensation paid by U.K. banks and other financial companies to dissatisfied customers rose by 11 percent in the second-half of 2010, as sales of payment- protection insurance triggered extra complaints. Banks, insurers and investment firms paid out 454 million pounds ($729.5 million) in compensation between July 1 an... |
2024-06-19 | Bloomberg | Suicides, Arrests Show Trouble at Korean Savings Banks | On the day she was supposed to have appeared before prosecutors for questioning last month, an executive of a shuttered South Korean savings bank hanged herself with her scarf in a Seoul motel. The woman, identified by the police only as “Kim,” was a credit officer at Mirae Mutual Savings Bank whose chairman was caught... |
2024-10-22 | Bloomberg | Japan Bonds Post Weekly Loss as Fed Comments Limit Pressure on BOJ to Ease | Japanese bonds completed a second weekly loss as U.S. policy makers mulled whether another round of debt purchases was necessary, reducing pressure on the Bank of Japan to ease monetary policy further. Ten-year yields climbed to the highest in two weeks as stocks advanced before a report next week forecast to show U.S.... |
2024-06-20 | Bloomberg | Rolls-Royce Targets Manila Rich as Hanoi Beckons: Southeast Asia | Rolls-Royce Motor Cars Ltd. targets to sell as many as 20 sedans in a year in the Philippines to tap the growing number of wealthy people in Asia ’s fastest-growing economy. The Bayerische Motoren Werke AG (BMW) ultra-luxury unit will open a showroom in the nation’s capital in the fourth quarter, Paul Harris , regional... |
2024-03-18 | Bloomberg | U.K., Germany, France, Italy Participate in G-7 Yen Intervention | The central banks of the U.K., Germany , France and Italy are selling yen as part of a coordinated plan by the Group of Seven nations to ease pressure on Japan’s exchange rate. “The Treasury can this morning confirm that, at its instruction, the Bank of England intervened in the foreign currency market to give effect t... |
2024-03-13 | Bloomberg | RBS Says Sale of Direct Line Stake Raised 507 Million Pounds | Royal Bank of Scotland Group Plc raised 507 million pounds ($758 million) by selling a stake in Direct Line (DLG) Insurance Group Plc, the U.K.’s biggest home and motor insurer, to comply with European Union state-aid rules. Britain’s biggest publicly owned lender sold 252.3 million Direct Line shares to institutional ... |
2024-07-13 | Bloomberg | Regulators Call for Simplicity, Transparency in Securitization | The asset-backed securities market needs banks to provide more information on the underlying loans and make the deals less complex to revive trading, according to a report by three global regulators. Policy makers worldwide should improve loan origination standards for asset-backed bonds, as well as foster greater tran... |
2024-12-24 | Bloomberg | Americans Miss $200 Billion Abandoning Stocks | Americans have missed out on almost $200 billion of stock gains as they drained money from the market in the past four years, haunted by the financial crisis. Assets in equity mutual, exchange-traded and closed-end funds increased about 85 percent to $5.6 trillion since the bull market began in March 2009, trailing the... |
2024-12-14 | Bloomberg | Most Asian Stocks Rise; Chinese Shares Surge on Economy | Most Asian stocks gained, with the Shanghai Composite Index posting its biggest advance in three years, as China ’s manufacturing survey added to signs of recovery in the world’s second-largest economy. Agricultural Bank of China Ltd., the nation’s No. 3 lender, climbed 2.4 percent in Hong Kong. Gome Electrical Applian... |
2024-04-13 | Bloomberg | Obama Said to Call for Cuts in Entitlement Spending, Higher Taxes for Rich | President Barack Obama today will outline a path to cutting the nation’s long-term debt through reductions in entitlement spending and increased taxes on the wealthy while seeking to draw a sharp contrast with Republican proposals, according to a person familiar with the plan. Obama’s approach will draw on the findings... |
2024-12-23 | Bloomberg | Money-Market Funds That ‘Break the Buck’ Can Be a Memory: View | Most of us can reel off the institutions behind the financial crisis, names like Lehman Brothers , Fannie Mae and American International Group. Often missing from the roll call of ignominy is the Reserve Primary Fund, a money-market mutual fund. When it almost collapsed in the fall of 2008, the U.S. economy was pitched... |
2024-06-27 | Bloomberg | ConAgra Foods, Deckers, Monster, Sara Lee: U.S. Equity Preview | Shares of the following companies may have unusual moves in U.S. trading today. Stock symbols are in parentheses and prices are as of 8:45 a.m. in New York. Boston Scientific Corp. (BSX) gained 1.6 percent to $7. Moody’s Investors upgraded the rating outlook of the second- biggest maker of heart devices to positive fr... |
2024-09-22 | Bloomberg | U.S. August 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. increased 0.3 percent in August to 116.2 (2004 = 100), following a 0.6 percent increase in July and a 0.3 percent increase in June. Says Ataman Ozyildirim, economist at The C... |
2024-08-09 | Bloomberg | Did We Just Find Someone to Take On the Banks? | To see how the federal government has pursued money-laundering cases against big banks over their dealings with Iran and other countries under U.S. trade sanctions, consider what happened when Barclays Plc (BARC) and the Justice Department were required to file reports describing the U.K. bank’s cooperation under a set... |
2024-02-06 | Bloomberg | Genworth Declines as Long-Term Care Insurance Falters | Genworth Financial Inc. fell the most in a month as Chief Executive Officer Tom McInerney said he was disappointed by lower profit from long-term care coverage. Genworth dropped 3.2 percent to $8.88 at 9:53 a.m. in New York. The shares have advanced about 18 percent this year. Profit at the long-term care business slid... |
2024-05-31 | Bloomberg | No Major U.S. Hurricane Hits This Season Would Set Record at Sixth Year | The last time a major hurricane hit the U.S., pounding beaches and towns with winds of more than 111 miles per hour, was the record storm year of 2005. “We have never gone six” years without a major strike, said Dennis Feltgen , spokesman for the National Hurricane Center in Miami. “That is a record I would like to est... |
2024-06-14 | Bloomberg | French Stocks Advance: Alstom, Axa, Renault, Saint-Gobain, Technip Climb | France’s CAC 40 Index rallied 70.52, or 2 percent, to 3,626.04, a fourth day of gains. The SBF 120 Index climbed 1.9 percent. The following shares rose or fell in Paris. Stock symbols are in parentheses. Alstom SA (ALO FP) advanced 5.9 percent to 39.79 euros, gaining for a fourth day. Shares of the world’s third-larg... |
2024-08-09 | Bloomberg | Erdogan Risks Kurdish Flare-Up Weakening Turkey Role Model for Arab Spring | As Prime Minister Recep Tayyip Erdogan urges Arab leaders to heed popular demands for change, in Turkey’s southeast violence and political protests are spreading among Kurds. Fighting between the army and Kurdistan Workers’ Party, or PKK, has escalated this year, leaving at least 107 people dead. Meanwhile, the group’s... |
2024-03-17 | Bloomberg | Commodities Gain for a Second Day; Oil Rises on Unrtest in Libya, Bahrain | Commodities gained for a second consecutive day, led by oil after fighting in Libya intensified, renewing concern that Middle East supplies may be further threatened in Africa ’s third-largest fuel producer. The Standard & Poor’s GSCI Spot Index of 24 commodity futures gained as much as 1.2 percent after falling 0.4 pe... |
2024-03-28 | Bloomberg | Health Law’s Medicaid Expansion Debated by U.S. High Court | U.S. Supreme Court justices grappled with whether Congress had the power to expand the Medicaid insurance program for the poor as part of President Barack Obama’s health-care law. Twenty-six states are challenging the expansion on grounds it would coerce them into spending more of their tax money than they want to spen... |
2024-09-22 | Bloomberg | Judge Approves Madoff Trustee’s $1 Billion Settlement With Tremont Funds | A judge approved a $1 billion settlement of a lawsuit by liquidator of Bernard Madoff’s firm and hedge-fund firm Tremont Group Holdings Inc. In the deal approved today by U.S. Bankruptcy Judge Burton Lifland , trustee Irving Picard will accept a cash payment of more than $1 billion from funds associated with Tremont. I... |
2024-02-27 | Bloomberg | BRICS Consider Pooling Foreign-Currency Reserves, Gordhan Says | The BRICS group of emerging-market nations will consider plans to pool foreign-currency reserves when heads of state meet next month, South African Finance Minister Pravin Gordhan said. The funds may be used to “support each other at times of balance of payments or currency crisis,” Gordhan said in his budget speech in... |
2024-01-17 | Bloomberg | China Life, DeNA, Hitachi, JVC, San Miguel: Asia Stocks Preview | The following companies may have unusual price changes in Asian trading tomorrow. Stock symbols are in parentheses, and share prices are as of the latest close. The information in each item was released after markets shut unless stated otherwise. Australian retailers: Westpac Banking Corp. and the Melbourne Institute i... |
2024-05-02 | Bloomberg | Treasury 10-Year Yield at Almost Year’s Low | Treasury 10-year note yields traded almost at this year’s low before a report tomorrow forecast to show the U.S. added fewer jobs than required to reduce the nation’s unemployment rate. U.S. debt was little changed after the Federal Reserve reiterated yesterday its pledge to buy U.S. securities as it tries to spur the ... |
2024-09-11 | Bloomberg | To Enjoy Driverless Cars, First Kill All the Lawyers | Here’s the dream: You want to go out to meet some friends for a drink, 30 miles from your house. You get into your autocar, set the destination, and then lie back for a quick disco nap so that you’ll be fresh enough for dancing afterward. The car drops you off at the restaurant and obediently takes itself off to the pa... |
2024-11-14 | Bloomberg | Bureaucrats Paid $250,000 Feed Outcry Over College Costs | J. Paul Robinson , chairman of Purdue University ’s faculty senate, strode through the halls of a 10- story concrete-and-glass administrative tower. “I have no idea what these people do,” said Robinson, waving his hand across a row of offices, his voice rising. The 59-year-old professor of biomedical engineering is lea... |
2024-07-13 | Bloomberg | Musi-Cafe Turns From Watering Hole to Inferno in Crash | The Musi-Cafe bistro was one of the liveliest gathering spots in Lac-Megantic, Quebec. On the night a runaway train carrying crude exploded in the small town, it became a scorched landmark for the worst Canadian rail disaster in more than a century. Shortly after 1 a.m. on July 6, the 73-car train crashed near the cent... |
2024-11-21 | Bloomberg | California Rejects Obama’s Insurance Cancellation Fix | California officials implementing President Barack Obama ’s health-care overhaul rejected a one-year extension of insurance plans that are to be canceled under the law. The president has urged states to give people with substandard medical plans an additional year to meet the law’s requirements after hundreds of thousa... |
2024-03-10 | Bloomberg | New Zealand’s Rate Cut Hurts Currency as Investors Look for Higher Yields | New Zealand ’s central bank cut its benchmark interest rate to a record low, reducing the attractiveness of the nation’s assets as officials from Beijing to London move to contain inflation by raising borrowing costs. Governor Alan Bollard today lowered the official cash rate half a percentage point to 2.5 percent and ... |
2024-01-16 | Bloomberg | Merkel Favors Reduced Dependence on Rating Companies, FTD Says | German Chancellor Angela Merkel backs a proposal by her Christian Democratic Union ’s parliamentary group to take measures to lessen the influence of rating companies on the investment decisions of large institutional investors, Financial Times Deutschland said today. Changing the rules may force banks and insurance co... |
2024-10-19 | Bloomberg | New York Knicks Center Turiaf Might Join French Team During NBA Lockout | New York Knicks center Ronny Turiaf may play for French team Asvel during the National Basketball Association lockout, joining fellow Frenchman Tony Parker of the San Antonio Spurs , who’s a part owner of the club. Turiaf, who was born in Martinique and played basketball as a youth in Paris, told Asvel’s website that h... |
2024-01-17 | Bloomberg | German Stocks Climb as U.S. Housing, Jobless Data Beat | German stocks climbed for a second day as U.S. housing starts rose more than forecast in December, while initial jobless claims in the world’s biggest economy fell to the lowest level in five years. HeidelbergCement AG rose 3.2 percent, for the largest gain on the benchmark DAX Index. ThyssenKrupp AG (TKA) added 2.2 pe... |
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