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2024-12-07 | Bloomberg | Tax-Cut Accord Gives In to `Moneyed Interests,' AFL-CIO Chief Trumka Says | The leader of the largest U.S. labor federation portrayed the deal President Barack Obama cut with Republicans to extend all of the Bush-era tax cuts as caving in “to Wall Street and moneyed interests.” “Two years ago, working Americans had high hopes that we would ultimately emerge from the deep, punishing financial d... |
2024-10-04 | Bloomberg | Short-Sale Bans, Forex Slippage, Hedge Police: Compliance | Financial stocks subject to rules restricting short sales in France, Italy, Belgium and Spain have behaved about the same as banks in European countries with no such prohibitions, according to Instinet Inc. French lenders governed by the regulations trailed the benchmark CAC 40 Index (CAC) by about 7 percentage points ... |
2024-05-31 | Bloomberg | European Stocks Decline as U.S. Jobless Claims Advance | European stocks fell, with the Stoxx Europe 600 Index posting its biggest monthly drop since August, as the number of Americans applying for unemployment insurance payments rose and U.S. business activity slowed. ABB Ltd. (ABBN) fell 2.9 percent after the head of the company’s low-voltage subsidiary said demand from Ch... |
2024-04-28 | Bloomberg | Generali First-Quarter Premiums Rise 6 Percent on Life Business | Assicurazioni Generali SpA (G) , Italy’s largest insurer, said first-quarter gross premiums rose 6.1 percent on a like-for-like basis, boosted by life insurance. Total premiums increased to 19.8 billion euros ($26.3 billion) in the three months through March, from 19.1 billion euros in the first quarter of 2011, Chief ... |
2024-11-02 | Bloomberg | Gold Climbs on Speculation Interest Rates Will Remain Low; Silver Gains | Gold prices rose in New York for the third time in four days on speculation that the Federal Reserve will boost stimulus measures to spur growth, weakening the dollar and lifting demand for precious metals. The Fed is likely to announce tomorrow a plan to purchase at least $500 billion of long-term securities, accordin... |
2024-02-13 | Bloomberg | Obama Seeks Minimum Wage Boost to Bolster Economy in Speech | President Barack Obama called for raising the federal minimum wage to $9 an hour and warned he’ll use executive powers to get his way on issues from climate change to manufacturing if Congress doesn’t act, laying out an assertive second-term agenda sure to provoke Republicans. In the first State of the Union address si... |
2024-06-20 | Bloomberg | Environment ‘Not Conducive’ for Fund Inflows to India, SMC Says | D.K. Aggarwal, who manages about $100 million as chairman of SMC Wealth Management Services Ltd., comments on the drop in Indian equities. He spoke in a phone interview from New Delhi. The Bombay Stock Exchange Sensitive Index lost 1.7 percent to 17,562.36 at 2:25 p.m. in Mumbai , bound for the lowest close in four mon... |
2024-06-19 | Bloomberg | Stobart Shares Rise on Entry Into Car Logistics: London Mover | Stobart Group Ltd. (STOB) , a U.K. provider of road, rail, air and sea freight services, rose in London trading as investors endorsed its plan to enter automobile logistics with the purchase of Autologic Holdings Plc. Stobart climbed as much as 5.5 percent to 123.9 pence, the biggest intraday gain since May 24. The War... |
2024-10-14 | Bloomberg | Property Bonds Earn Five Times Global Debt Return: China Credit | Dollar bonds issued by China’s developers are delivering five times the global average for debt denominated in the U.S. currency as housing demand strengthens in the world’s most-populous nation. Property securities, which account for 32 percent of the Bank of America Merrill Lynch index of China’s dollar bonds, have a... |
2024-04-20 | Bloomberg | Berkshire Takes AIG Asbestos Risk in $1.65 Billion Deal | Warren Buffett ’s Berkshire Hathaway Inc. (BRK/A) will get $1.65 billion from American International Group Inc. (AIG) for assuming the risk of asbestos policies from the bailed- out insurer. The deal with Omaha, Nebraska-based Berkshire’s National Indemnity will result in a deferred pretax gain of $200 million this qua... |
2024-02-24 | Bloomberg | Greece Collective Action Clauses Risk Triggering Default Swaps | Greece ’s debt restructuring would trigger credit-default swaps insuring $3.2 billion of bonds if the government uses clauses designed to mop up investors unwilling to take part. Greece published the formal offer document today for its agreement to exchange bonds for new securities, with investors taking a haircut of 5... |
2024-06-28 | Bloomberg | Oil Drops to Eight-Month Low on U.S., German Unemployment | Oil fell to an eight-month low as unemployment data from the U.S. and Germany spurred concern about the economic recovery as European Union leaders met to address the debt crisis. Prices dropped 3.1 percent after the Labor Department reported U.S. applications for unemployment benefits hovered near the highest level of... |
2024-06-27 | Bloomberg | Mortgage-Bond Slump Widens as Jumbo, Alt-A Debt Extend Losses | U.S. mortgage bonds without government backing are extending losses as signs of a weakening U.S. economy and concern that Greece may default on its debt curb risk-taking. Typical prices for the senior-most securities backed by prime-jumbo mortgages that started with a few years of fixed rates fell 1.5 cents on the doll... |
2024-04-13 | Bloomberg | U.S. Federal Reserve Beige Book: Minneapolis District (Text) | The following is the text of the Federal Reserve Board’s Ninth District-- Minneapolis. The Ninth District economy expanded moderately since the last report. Increased activity was noted in consumer spending , tourism, commercial construction and real estate, manufacturing, energy and mining, and agriculture. The servic... |
2024-08-15 | Bloomberg | Asian Stocks Drop as Mining, Metal Shares Slide on China | Asian stocks fell a third time in four days as earnings disappointed investors amid concerns about Europe’s simmering debt crisis. Steelmakers slid after the world’s biggest ore producer said China ’s golden years of economic expansion are over. China Aerospace International Holdings Ltd. slumped 5.3 percent in Hong Ko... |
2024-03-29 | Bloomberg | Harper Promises Family Tax Breaks in Bid for Canadian Majority Government | Prime Minister Stephen Harper targeted his first campaign pledge at Canadian families with children, as he seeks to boost support in a bid to form a majority government. Harper said yesterday his Conservative Party would let families with children under 18 split up to C$50,000 ($51,250) of their income for tax purposes... |
2024-09-22 | Bloomberg | German, Dutch Yields Fall to Record on Global-Growth Concern, Stock Slump | German bonds rose, with 10- and 30- year yields dropping to record lows, as speculation the world economy is headed for another recession increased demand for safer securities. Ten-year bunds gained for a fifth day after the Federal Reserve said yesterday there were “significant” risks to the U.S. economy and it would ... |
2024-01-03 | Bloomberg | German Stocks Decline as Focus Shifts to U.S. Deficit | German stocks retreated from a five- year high as investors shifted focus from the U.S. budget deal averting most scheduled tax increases to upcoming negotiations on lowering the nation’s deficit. K+S AG (SDF) , Europe’s largest potash maker, lost 3.1 percent after Citigroup AG lowered its recommendation on the stock. ... |
2024-03-11 | Bloomberg | Fed's Dudley Says He's Encouraged by Expansion in U.S. Manufacturing Jobs | Federal Reserve Bank of New York President William Dudley said February’s increase in U.S. jobs gives him more confidence that January’s figures were dampened by harsh weather and reiterated the labor market will pick up. “Particularly encouraging is the growth of manufacturing jobs,” Dudley, 58, said today in a speech... |
2024-07-21 | Bloomberg | Aon May Resume Taking Broker Fees Banned for Five Years Under Spitzer Deal | Aon Corp. , the world’s biggest insurance broker, said it may resume taking payments that were banned for five years under a 2005 settlement with Eliot Spitzer , then the attorney general of New York. Aon, Marsh & McLennan Cos. and Willis Group Holdings Plc, the three biggest brokers, were released in February from re... |
2024-08-16 | Bloomberg | Goldman in Lead to Take Biggest Share of Huarong Stake, FT Says | Goldman Sachs Group Inc. is leading the race to take the biggest share of a stake in China Huarong Asset Management Co. before a stock sale by the so-called bad bank, the Financial Times reported, citing two people close to the transaction. Goldman Sachs, Morgan Stanley (MS) and Deutsche Bank AG (DBK) have held talks a... |
2024-12-22 | Bloomberg | Stocks in U.S., Oil Climb to Two-Year Highs on GDP Report; Treasuries Fall | U.S. stocks and oil climbed to the highest levels since 2008 after government data showed the economy expanded faster than previously estimated and crude supplies dropped to the lowest since February. Treasuries fell. The Standard & Poor’s 500 Index, which yesterday completed its recovery from losses after the collapse... |
2024-02-15 | Bloomberg | MetLife’s Kandarian Urges Fed to Approve Job-Creating Dividends | MetLife Inc. (MET) Chief Executive Officer Steven Kandarian , who is cutting jobs at the insurer’s banking business, said he is forced to hold too much capital and that shareholders could use the funds to boost employment. MetLife, the largest U.S. life insurer, is seeking Federal Reserve permission to return capital t... |
2024-07-07 | Bloomberg | Allstate CEO Says U.S. State, Local Borrowing `Out of Control' | Allstate Corp. Chief Executive Officer Thomas Wilson said a surge in borrowing by U.S. state and local governments may trim the value of municipal debt holdings, and called for political leaders to cut costs. “Government borrowing is way out of control.” Wilson, 52, said yesterday in a Bloomberg Television interview f... |
2024-10-18 | Bloomberg | Knife Attack Shows India Strife Clouding Singh Investment Appeal | Nitin Kale spent 12 hours a day machining asbestos sheets to fulfill his dream of saving enough money to get married. Instead, the 25-year-old is in jail charged with stabbing three managers at the factory where he worked, a bloody clash in India ’s growing labor wars. As the latest of 42 meetings between union negotia... |
2024-07-14 | Bloomberg | Citigroup, Goldman, JPMorgan, UBS to Manage Warsaw Bourse Initial Offering | Poland chose Citigroup Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co. and UBS AG to manage the initial public offering of the Warsaw Stock Exchange, central Europe’s biggest equity market. Ipopema Securities SA, KBC Groep NV, Societe Generale SA, and PKO Bank Polski SA will be bookrunners for the November offeri... |
2024-01-17 | Bloomberg | Richard Fisher Wants A Warning Label for Banks | Richard Fisher , the president of the Federal Reserve Bank of Dallas , has a great plan for ending the federal safety net for too-big-to-fail banks. Under his proposal, which would require new legislation, only commercial banks would have access to government deposit insurance and discount-window loans provided by the ... |
2024-04-05 | Bloomberg | FDIC Levy Means Banks Lose Overnight Arbitrage Profits, FT Says | An insurance charge by the U.S. Federal Deposit Insurance Corp. on banks’ overnight borrowing has ruined a lucrative arbitrage opportunity, according to traders, the Financial Times reported. The charge, introduced on April 1, is based on borrowers’ risk ratings and is about 15 basis points for bigger banks; it’s part ... |
2024-03-15 | Bloomberg | China Mobile Adds to 2012 Gains on 4G Expansion: China Overnight | China Mobile Ltd. (CHL) , the world’s biggest phone company by subscribers, extended the best performance among Chinese phone companies in the U.S. this year as it builds out a faster wireless network to lure subscribers. The Hong Kong-based carrier that’s gained 12 percent in 2012 rose 0.4 percent yesterday to $54.24 ... |
2024-04-11 | Bloomberg | Junk-Bond-Style Checks Resisted by Investec: South Africa Credit | A plan to give investors the same level of protection when buying South African investment-grade corporate debt as they get with junk bonds is dividing the nation’s money managers. The proposals being debated include limits on further borrowing, which will enhance the safety of the debt, said Jason Lightfoot, a portfol... |
2024-02-05 | Bloomberg | Fed’s Duke Says Small Banks Poised for Rise in Profits | Federal Reserve Governor Elizabeth Duke said U.S. community banks are poised to benefit from stronger loan demand and an eventual rise in interest rates as the U.S. expansion gains strength. Reduced interest income and weak loan demand are “consequences of a sluggish economy,” Duke said today in the text of remarks for... |
2024-09-15 | Bloomberg | Kuwait, Temasek Said Among Investors in Citic Securities Hong Kong Offer | Temasek Holdings Pte and Kuwait Investment Authority are among early investors who agreed to buy $900 million of stock in Citic Securities Co.’s initial share sale in Hong Kong, two people with knowledge of the matter said. The Singaporean state-owned investment firm will invest $150 million in the offering, while the ... |
2024-04-05 | Bloomberg | Intrade Uncovers $700,000 Shortfall as It Seeks Members’ Support | April 5 (Bloomberg) -- Intrade , the betting website that halted trading last month amid a probe into suspected financial irregularities, told customers it has found a $700,000 shortfall in client funds as it seeks their backing for a survival plan. The Dublin-based company uncovered the shortfall after comparing cash ... |
2024-12-07 | Bloomberg | Chinese Group Said in Talks to Buy AIG’s Plane Lessor | A group led by New China Trust Co. and its chairman Weng Xianding is in talks to buy a controlling stake in American International Group Inc. (AIG) ’s aircraft-leasing unit, three people with knowledge of the matter said. The group, which includes China Aviation Industry Fund and Industrial & Commercial Bank of China L... |
2024-12-15 | Bloomberg | Layton Says Canada Still Needs ‘Targeted Stimulus’ | Jack Layton , leader of the smallest opposition group in Canada’s Parliament, said the governing Conservatives should continue implementing “targeted stimulus” to help create employment and support Canadians hurt by the recession. Layton, whose party holds the balance of power in Parliament along with two other opposit... |
2024-07-12 | Bloomberg | Ex-BOE’s Jenkins Says Basel Bank Rules are a ‘Busted Flush’ | Robert Jenkins , a former member of the Bank of England ’s Financial Policy Committee, comments on bank regulation and his tenure on the panel from July 2011 to April 2013. On the Basel III framework: “The new regulatory arrangements rely heavily on a Risk Weighted Assets regime which is too complex and a leverage rati... |
2024-04-06 | Bloomberg | Gas Negara, MAA, Rio Tinto, Woori: Asia Ex-Japan Equity Preview | The following companies may have unusual price changes today in Asian trading, excluding Japan. Stock symbols are in parentheses, and share prices are from the previous close, unless noted otherwise. Formosa Chemicals & Fibre Corp. (1326) (1326 TT): The producer of petrochemical products sold NT$6 billion ($206.9 milli... |
2024-08-15 | Bloomberg | Lawyers Raking in Cash as Campaign Spending Hits Records | Every four years, a new mix of politicians assembles to compete for the opportunity to run for president. While the candidates’ names and faces change, the lawyers stay the same. Attorney Michael Toner began his presidential-campaign legal career in 1996 working for Republican nominee Bob Dole. He worked for George W. ... |
2024-05-11 | Bloomberg | Yen to Hit Record as Quake Spurs ‘Risk-Averse’ Repatriation, JPMorgan Says | The yen may revisit this year’s record high against the dollar as Japanese investors refrain from investing in overseas assets to reduce risk following the nation’s biggest earthquake, according to JPMorgan Chase & Co. (JPM) “Risk-averse” investors and companies may bring home as much as 10 trillion yen ($123.5 billio... |
2024-02-13 | Bloomberg | Oil Rises From Three-Day Low on Greek Austerity Measures, Iran Sanctions | Oil rebounded from a three-day low in New York after Greece ’s parliament approved austerity measures to secure an international bailout, easing concern Europe ’s debt crisis will worsen and curb fuel demand. Futures climbed as much as 1 percent after 199 lawmakers supported the bill in a roll-call vote shown live on s... |
2024-08-23 | Bloomberg | About 17% of Global Banks Clawed Back Compensation, Mercer Says | About 17 percent of global banks clawed back compensation in 2011 as European and North American regulators pressured firms to impose penalties on employee risk- taking, according to consulting firm Mercer. The survey found 44 percent of banks had clawback provisions in place before 2011, with them more common in North... |
2024-04-05 | Bloomberg | Latvia Bailout, Loan ‘Deal Killer’, Solvency II: Compliance | The International Monetary Fund and the European Commission will send a mission to Latvia today to begin work on a country review as part of its bailout 7.5 billion-euro ($10.7 billion) loan. The joint mission will meet with representatives from the government, the central bank and bank regulators to discuss budget and... |
2024-05-30 | Bloomberg | UBS Hunts for Hidden Billionaires as It Expands in Africa | UBS AG (UBSN) , the Swiss bank seeking to boost profit from wealth management, said it plans to expand in Africa as economic growth rates surpassing 5 percent boost demand for banking services from the continent’s rich. “Wealth management is key to the Africa franchise,” Sean Bennett, the Johannesburg-based managing di... |
2024-03-24 | Bloomberg | Barbour Says Romney Can Overcome Primary Attacks | Mitt Romney is likely to overcome resistance within his party in the next month and rally Republicans to his presidential candidacy, Haley Barbour , a former Republican National Committee chairman, said. Even after a bitter primary contest, Romney will be able to rally conservatives against President Barack Obama in No... |
2024-06-05 | Bloomberg | Bank of Ireland Said to Pick Ex-Lloyds Director Kane as Chairman | Bank of Ireland Plc , the nation’s largest bank, plans to appoint Archie Kane, former insurance director at Lloyds Banking Group Plc, as its next chairman, according to people with knowledge of the matter. Kane, 59, who retired from Lloyds last year, has been nominated by the Dublin-based lender’s board and is currentl... |
2024-07-12 | Bloomberg | Swiss Stocks Rise for Fifth Day; Ems-Chemie Shares Climb | Swiss stocks climbed for a fifth day, extending the Swiss Market Index’s highest level in six weeks, as health-care companies advanced. Ems-Chemie (EMSN) Holding AG rose 3 percent after the chemical producer posted first-half earnings and said it plans a dividend increase. Galenica AG increased 1.1 percent after UBS AG... |
2024-07-10 | Bloomberg | Colombian Insurer Seguros Colpatria Said to Seek Buyers | Seguros Colpatria SA, a Colombian insurance provider, is weighing a sale that may fetch $500 million, said people familiar with the matter. Seguros Colpatria, which provides fire, earthquake, liability and other types of coverage, engaged Zurich-based UBS AG to seek a buyer, according to the people, who asked not to be... |
2024-11-29 | Bloomberg | U.S. Stocks Climb Amid Optimism Over Budget Negotiations | U.S. stocks rose, sending the Standard & Poor’s 500 Index higher for a second day, amid investor optimism that lawmakers will reach a resolution in federal budget negotiations. All 10 groups in the S&P 500 rose as commodity producers rallied. Apple Inc. (AAPL) and Advanced Micro Devices Inc. (AMD) led an advance in tec... |
2024-08-22 | Bloomberg | Subprime Squeezed as Auto-Lender Costs Increase: Credit Markets | Borrowing costs are rising for subprime auto lenders in the asset-backed bond market, squeezing profit margins and pressuring firms to make even riskier loans. A General Motors Co. (GM) unit that makes car loans to people with blemished or limited credit sold top-rated securities backed by the debt to yield 45 basis po... |
2024-05-21 | Bloomberg | Thailand Stocks: Hana, Thai Air, Thai Reinsurance, Thai Stanley | Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the close in Bangkok. The SET Index (SET) fell for a second day, dropping 1.7 percent to 1,135.16, the lowest close since Feb. 27. Oil companies : PTT Pcl (PTT) , Thailand’s largest energy comp... |
2024-08-16 | Bloomberg | India’s Inflation Rate May ‘Peak’ in August, Finance Ministry’s Basu Says | India ’s inflation rate may “peak” in August and will be about 10 percent, Kaushik Basu, the chief economic adviser in the finance ministry, said after the price gauge eased for a third straight month in July. The wholesale-price index rose 9.22 percent from a year earlier after a 9.44 percent jump in June, the commerc... |
2024-06-22 | Bloomberg | Triglav Insurer Buys Sava Real Estate for EU 14.8 Million | Zavarovalnica Triglav d.d., Slovenia’s biggest insurance company, said it bought the real estate unit from Sava d.d. for 14.8 million euros ($18.6 million), the Ljubljana-based insurer said in an e-mailed statement today. It also seeks to increase its real estate activity. To contact the reporter on this story: Boris C... |
2024-04-30 | Bloomberg | Top Pick for Berkshire CEO Described by Buffett as ‘Straight as an Arrow’ | Berkshire Hathaway Inc. (BRK/A) Chief Executive Officer Warren Buffett , whose list of potential successors shrank in March with the resignation of David Sokol , said the top choice has the integrity the job requires. “The leading candidate right now, I would lay a lot of money on him being straight as an arrow,” Buffe... |
2024-08-03 | Bloomberg | Drought Assistance for Livestock Producers Passed by U.S. House | The U.S. House voted to extend federal aid to ranchers who have lost cattle and sheep because of the drought and other natural disasters, though the Senate may not take up the measure for at least a month. The House voted 223-197 yesterday to approve the $383 million drought-aid bill , which would reimburse ranchers fo... |
2024-06-09 | Bloomberg | Dimon Challenges Bernanke in Wall Street Bid to Tame Regulators | JPMorgan Chase & Co. (JPM) Chief Executive Officer Jamie Dimon’s public questioning of Federal Reserve Chairman Ben S. Bernanke on bank regulatory costs has “thrown down the gauntlet” in the industry’s increasingly aggressive fight to curb higher capital requirements and other rules. “They threw out the first ball, now... |
2024-12-27 | Bloomberg | Consumer Comfort in U.S. Hovers Near Highest Since 2008 | Consumer confidence in the U.S. held near a four-year high last week as Americans grew less pessimistic about the economy. The Bloomberg Consumer Comfort Index was little changed at minus 32.1 in the period ended Dec. 23 from minus 31.9 in the prior week, a drop that was within the margin of error of 3 percentage point... |
2024-04-16 | Bloomberg | S&P 500 Falls a Second Week as Quarterly Reports Miss Estimates | U.S. stocks fell, giving the Standard & Poor’s 500 Index its second straight weekly decline, as companies from Alcoa Inc. (AA) to Google Inc. (GOOG) and Bank of America Corp. (BAC) reported quarterly results that missed estimates. The benchmark gauge rose 0.4 percent yesterday as higher- than-forecast data on consumer ... |
2024-08-27 | Bloomberg | Saskatchewan Says Farmers Had 25% Fewer Acres Too Wet to Plant | Saskatchewan, Canada ’s largest wheat and canola producer, had 25 percent fewer acres that were too wet to plant this year, the province’s insurer said. A total of 1.5 million acres of an approximate 27 million acres of insured farmland has not been seeded this year due to wet conditions, down from about 2 million acre... |
2024-06-09 | Bloomberg | Sandusky’s Fate Hinges on Testimony of Sex-Abuse Accusers | Former Pennsylvania State University assistant football coach Jerry Sandusky, a jury and the public may soon hear eight young men describe how, when they were boys, they were allegedly befriended and sexually assaulted. That testimony may send Sandusky, 68, to prison for the rest of his life. The Nittany Lions defensiv... |
2024-09-28 | Bloomberg | Tucker's AIA IPO Starts Race With Prudential Protege Thiam | Prudential Plc’s Tidjane Thiam tried and failed to expand in Asia by buying AIA Group Ltd. , his first test as chief executive officer. To succeed now, he will have to beat AIA’s new CEO and his ex-boss, Mark Tucker. This week, Thiam’s former mentor starts gauging investor appetite for an initial public offering of AIA... |
2024-08-08 | Bloomberg | Obama Trades Comforter Hat for Campaigner on Colorado Return | President Barack Obama targeted female voters in the swing state of Colorado , telling a Denver audience that his rival Mitt Romney and Republicans support policies “more suited to the 1950s than the 21st century.” “The choice between going backward and moving forward has never been so clear,” Obama told an audience of... |
2024-06-25 | Bloomberg | Bond Sales Diminish as Renault Trims Offering, Swaps Climb: Credit Markets | Bond sales fell and the cost of protecting against default on Greek government debt rose to a record as concern the global economy may slow brought new signs of stress to credit markets. Company debt offerings globally declined 3.8 percent this week to $38.6 billion, according to data compiled by Bloomberg. Renault SA... |
2024-03-02 | Bloomberg | Greek Swaps Headed Back to ISDA Committee | Holders of credit-default swaps on Greek bonds shouldn’t tear up their contracts after yesterday’s ruling against a payout. The International Swaps & Derivatives Association said the swaps hadn’t been triggered by the European Central Bank ’s exchange of Greek bonds for new securities exempt from losses taken by privat... |
2024-09-04 | Bloomberg | Health-Care Goal Should Be Quality, Not Quantity | The Independent Payment Advisory Board is perhaps the most mischaracterized part of the health- care reform law -- which is saying something, given how many false charges have been hurled at the Affordable Care Act. The IPAB was designed to be a backstop to make sure the health-care system makes a transition from fee-f... |
2024-07-25 | Bloomberg | Hopper, Electronic Arts, Monsanto: Intellectual Property | Fox Broadcasting Co. lost a second bid to halt Dish Network Corp. (DISH) ’s AutoHop ad-skipping feature, as a California federal appeals court refused to overturn a lower-court ruling that allowed the service to continue. U.S. District Judge Dolly Gee in Los Angeles rejected Fox’s motion last year for a preliminary inj... |
2024-07-11 | Bloomberg | Diamond Offers to Rebut Claims He Misled U.K. Lawmakers | Former Barclays Plc (BARC) Chief Executive Officer Robert Diamond offered to return to U.K. Parliament to challenge lawmakers who said he wasn’t telling the truth about the bank’s relationship with regulators. “The comments made at today’s hearing have had a terribly unfair impact upon my reputation, which is of paramo... |
2024-02-07 | Bloomberg | McGraw-Hill’s S&P Imperils $4.6 Billion Gain: Corporate Finance | Fifteen months after Harold “Terry” McGraw III sparked a $4.6 billion stock gain at McGraw-Hill Cos. with a plan to focus the business on its Standard & Poor’s unit, a lawsuit against the credit-ratings firm threatens to cost the company even more. McGraw-Hill’s market capitalization , which reached a five- year high o... |
2024-08-14 | Bloomberg | India Inflation Cools to 32-Month Low as Growth Falters: Economy | India ’s inflation rate unexpectedly reached a 32-month low in July, signaling that the nation’s weakest economic growth in almost a decade is starting to contain prices. The wholesale-price index rose 6.87 percent from a year earlier, less than all estimates in a Bloomberg News survey of 29 economists with a median pr... |
2024-10-08 | Bloomberg | Basel III Deadline May Be Missed by Some States, Ingves Says | Some nations will miss a January deadline to start implementing so-called Basel III capital and liquidity rules, the head of the Basel Committee on Banking Supervision said in a report published today. “It is clear that not all jurisdictions will be ready in time,” said Stefan Ingves , the Basel group’s chairman, in a ... |
2024-12-22 | Bloomberg | Oil Rises to Two-Year High After U.S. Inventories Drop More Than Forecast | Crude oil rose to the highest level in more than two years after government reports showed that U.S. supplies dropped and the country’s economy grew more than previously estimated in the third quarter. Stockpiles fell 5.33 million barrels to 340.7 million last week, the Energy Department said. A 3.4 million-barrel decl... |
2024-01-31 | Bloomberg | CMHC Says It Is Rationing Mortgage Insurance for Lenders | Canada Mortgage & Housing Corp. said it is rationing mortgage insurance for lenders as the country’s housing agency approaches the legal limit of its ability to backstop the loans. “CMHC has recently received an unexpected level of requests for large amounts of CMHC portfolio insurance,” Charles Sauriol, a spokesman fo... |
2024-11-01 | Bloomberg | Wachtell, Skadden, Kirkland, King: Business of Law | Wachtell, Lipton, Rosen & Katz advised PVH Corp. (PVH) , the owner of the Tommy Hilfiger brand, in its agreement to buy Warnaco Group (WRC) in a $2.9 billion transaction, creating a company with $8 billion in sales and bringing all Calvin Klein-branded apparel under one roof. Skadden Arps Slate Meagher & Flom LLP advis... |
2024-06-14 | Bloomberg | Cameron Says Return on RBS More Important Than Timing | Prime Minister David Cameron said U.K. voters are more interested in getting their money back from Royal Bank of Scotland Group Plc than in its quick return to the private sector. “It will take time, because this is a bank that is still healing,” Cameron said in an interview in his London office late yesterday. “As for... |
2024-05-18 | Bloomberg | Asian Currencies Strengthen, Led by Malaysia’s Ringgit, on Growth Outlook | Asian currencies rallied, led by Malaysia’s ringgit and Singapore ’s dollar, on speculation investors took advantage of recent declines in stocks and currencies to boost holdings of regional assets. The Bloomberg-JPMorgan Asia Dollar Index advanced from a one-month low as optimism about the region’s growth outlook offs... |
2024-10-18 | Bloomberg | Position Limits, Bank ‘Living Wills,’ Antitrust: Compliance | The U.S. Commodity Futures Trading Commission may increase risk of manipulation and volatility in markets for oil, gas and other commodities unless new speculation limits apply similar treatment to physical-settled and cash-settled derivatives, Senator Maria Cantwell said. Cantwell, a Washington Democrat who supports s... |
2024-09-04 | Bloomberg | Chinese Insurers Have $14 Billion to Buy Overseas Real Estate | Chinese insurers could spend about $14.4 billion on overseas commercial real estate, aided by a stronger local currency and easier regulations amid a limited supply of prime properties at home, CBRE Group Inc. said. The insurers are seeking high-quality office investments in international gateway cities such as London,... |
2024-03-04 | Bloomberg | Denmark Fights to Push Tougher Bail-In Rules in Europe | Denmark is lobbying hard to make sure bondholders don’t get off too lightly in the European Union’s proposed bank resolution framework. The Scandinavian nation -- which was the first to pass bail-in legislation in 2010, leading to senior bondholder losses less than a year later -- argues the EU’s latest plan still enta... |
2024-11-11 | Bloomberg | Drugmakers May Lose as Merkel Bids to Break Price ‘Monopoly’ | Drugmakers face more than 2 billion euros ($2.76 billion) in price cuts in Germany, their biggest market in Europe, after lawmakers in Berlin approved the first controls on the cost of innovative medicines. The law, backed by the lower house today, gives companies a one-year window to negotiate prices with insurers aft... |
2024-04-30 | Bloomberg | Speculators Miss Rally as U.S. Sells Most Corn Since 1994 | Speculators reduced bullish bets on corn by more than any other commodity, just before the U.S. reported its single biggest export sale in 18 years and prices had their largest two-day rally in almost a month. Money managers cut corn wagers by 30 percent to 103,079 futures and options in the week ended April 24, the bi... |
2024-10-18 | Bloomberg | Law Firm Investigations Grow More Prevalent as Suits Decline, Study Shows | U.S. and U.K. businesses are going to court less while being subjected to more regulatory actions and internal probes, according to a litigation trend survey by Houston-based law firm Fulbright & Jaworski LLP. Forty percent of respondents reported an increase in regulatory actions and internal investigations in the 201... |
2024-07-29 | Bloomberg | Primary Dealers Meet With Treasury Officials Over Auctions, Debt Ceiling | The U.S. Treasury Department met with bond dealers in New York to discuss next month’s quarterly auctions of notes and bonds and the debt ceiling. The Treasury canceled its regularly scheduled individual meetings with bond dealers in favor of the group meeting, the department said in a statement today. All 20 primary d... |
2024-03-15 | Bloomberg | Freeze Says Investors Will ‘Back Away’ After Japan Earthquake | Curtis Freeze, founder of Honolulu- based Prospect Asset Management Inc., which manages $280 million and has been investing in Japan for more than two decades, comments on Japan’s strongest earthquake on record and the social and economic impact on the country. On market reaction: “I don’t think the market is going to ... |
2024-06-17 | Bloomberg | Directors Refuse to Go Naked for Chinese IPOs | Stephen Markscheid holds one of the riskiest jobs in the world -- or so say insurers. The 59-year-old former banker, a Mandarin-speaking American, sits on the boards of five U.S.-listed Chinese companies, including JinkoSolar Holding Co. (JKS) The group of about 500 Chinese firms came under scrutiny over the past two ... |
2024-03-17 | Bloomberg | Popolare Milano May Sell 81% Bipiemme Vita Stake to Covea, Radiocor Says | Banca Popolare di Milano Scarl (PMI) may sell an 81 percent stake in its life insurance unit Bipiemme Vita to France ’s Covea for as much as 340 million euros, Radiocor reported, citing a draft agreement document. The deal may be announced March 29, it said. Covea will make an initial payment of 300 million euros, the ... |
2024-04-14 | Bloomberg | Wholesale Prices in U.S. Rise 0.7%, Led by Energy, Trucks, Passenger Cars | Wholesale costs in the U.S. rose 0.7 percent in March, led by higher prices for energy, light trucks and passenger cars. The increase in the producer-price index was smaller than forecast as food prices unexpectedly dropped for the first time since August, Labor Department figures showed today in Washington. The median... |
2024-11-05 | Bloomberg | Chen’s BlackBerry Revival Task Mirrors Sybase in 1990s | Fifteen years after saving Sybase Inc. from its death spiral, John Chen is being called upon to revive a beaten-down BlackBerry Ltd. Chen, 58, was named interim chief executive officer of BlackBerry yesterday after the collapse of a proposed $4.7 billion buyout. He takes over a company that’s lost 95 percent of its val... |
2024-05-29 | Bloomberg | Greek Exit From Euro Seen Exposing Deposit-Guaranty Flaws | The threat of Greece exiting the euro is exposing flaws in how banks and governments protect European depositors’ cash in the event of a run. National deposit-insurance programs, strengthened by the European Union in 2009 to guarantee at least 100,000 euros ($125,000), leave savers at risk of losses if a country leaves... |
2024-08-09 | Bloomberg | Benjamin Heineman Sr., ‘Improbable’ Rail Innovator, Dies at 98 | Benjamin W. Heineman Sr., a Chicago- based corporate lawyer and businessman who helped modernize U.S. railways and advised President Lyndon B. Johnson , has died. He was 98. He died on Aug. 5 after suffering a stroke while visiting family in Wisconsin , the Chicago Tribune reported, citing his daughter, Martha Heineman... |
2024-06-29 | Bloomberg | German, KfW Development Bank Climate Fund to Reach $500 Million by 2011 | A fund supported by Germany’s KfW development bank that aims to invest in energy efficient projects in developing nations will likely have financing sources worth $500 million by the end of the year. The fund, which has commitments worth about $100 million now, is meant to reduce the risk for private investors and lev... |
2024-02-08 | Bloomberg | Nikkei 225 Halts 12-Week Rally on Sony Loss, Euro Concern | Japanese shares fell, with the Nikkei 225 Stock Average ending its longest streak of weekly wins since 1959, as Sony Corp. plunged on an unexpected loss and amid eurozone recovery concern. Sony slumped 10 percent, the television maker’s biggest drop since November 2008. Nintendo Co. , a maker of game consoles that gets... |
2024-05-08 | Bloomberg | Servier Denies French Allegation of Concealing Mediator Diabetes Drug Risk | Les Laboratoires Servier , France’s second-biggest drugmaker, denied allegations by government investigators that the company concealed the risks of a drug now suspected of having caused the deaths of as many as 2,000 people. Servier also never pressed regulators to keep the drug on the market regardless of the risks, ... |
2024-03-15 | Bloomberg | Hong Kong's Fourth-Richest Billionaire Buys Ping An Stake For $2.5 Billion | Ping An Insurance (Group) Co. raised HK$19.4 billion ($2.5 billion) selling shares to a Hong Kong billionaire to help China’s second-largest insurance company boost capital. Shares fell the most in almost two years. Chow Tai Fook Nominee Ltd., controlled by the family of the Hong Kong tycoon Cheng Yu-tung , bought 272 ... |
2024-07-31 | Bloomberg | Pesek's View From Asia | Good morning, everyone. Here's my take on some of the stories driving the debate in politics, finance and social issues across Asia today: Malaysia's credit outlook was cut to negative fro m stable as prospects dwindle for budgetary and fiscal reform. The dark side of Prime Minister Najib Razak's much-ballyhooed elect... |
2024-10-22 | Bloomberg | Ceiops Plans to Publish Insurers’ Test Results Early | European insurers’ results in a test of new regulations may be published earlier than scheduled, the head of the supervisory body advising the European Commission on the rules said. “We want to send our final report on the fifth quantitative impact study to the EU Commission in the first week of March, one month earlie... |
2024-06-03 | Bloomberg | Tisch Says Shorter-Duration Bonds To Guard Against Higher Rates | Loews Corp. (L) is investing in shorter- duration bonds at its insurance unit because it believes yields will increase, Chief Executive Officer James Tisch said. “At some point in the future, there will be a significant rise in interest rates ,” Tisch said today at a conference sponsored by Sanford C. Bernstein & Co. i... |
2024-07-04 | Bloomberg | Canadian Stocks Rise on TMX Approval, U.S. Car Sales | (Corrects to say gold trading in London in final paragraph.) Canadian stocks rose for a sixth day led by financial shares after the Competition Bureau approved a proposed bid for the Toronto Stock Exchange by a group of Canadian banks. Consumer shares advanced as U.S. car sales rose more than analysts expected last mon... |
2024-04-27 | Bloomberg | Credit Swaps at Record High as Greek Crisis Infects Europe | Greece’s credit-rating downgrade to junk by Standard & Poor’s sent its bond yields and insurance costs to records on speculation the country will find it more difficult to repay its debt. Credit-default swaps on Greek government bonds climbed 111 basis points to 821, according to CMA DataVision. Portugal rose 54 basis... |
2024-10-12 | Bloomberg | U.K. Stocks Fall Most in Two Weeks; Morgan Crucible Sinks | U.K. stocks retreated the most in two weeks as commodity producers fell amid concern about Asian growth and Morgan Crucible (MGCR) Co. cut its forecasts. Rio Tinto Group, the world’s third-biggest mining company, dropped 1.6 percent as Chinese bank lending missed projections. Morgan Crucible, a maker of body armor , sa... |
2024-02-20 | Bloomberg | China’s Stocks to Extend Rebound to Sixth Week After Ratio Cut, BofA Says | China’s stocks may extend gains into a sixth week after the government cut lenders’ reserve- requirement ratios for the second time in three months, according to Bank of America Corp. and Dazhong Insurance Co. Reserve ratios will fall 50 basis points from Feb. 24, the People’s Bank of China said on its website Feb. 18.... |
2024-05-06 | Bloomberg | U.K. Stocks Rebound From Two-Day Slide as U.S. Payrolls Improve | The U.K.’s FTSE 100 Index (UKX) rebounded from a two-day selloff as banks and mining companies rallied after a U.S. report showed the world’s largest economy added more jobs than forecast last month. Royal Bank of Scotland Group Plc (RBS) jumped the most since January after the lender reported higher operating profit. ... |
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