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2024-07-14 | Bloomberg | Qatar Shares Lead Gulf Advance on Global Growth Confidence; Saudi Declines | Qatar shares advanced to the highest level this month, leading Gulf markets higher, on increased confidence in the global recovery after Singapore raised its economic growth forecast. Saudi shares retreated as oil fell. The QE Index climbed 0.9 percent to 7,018.48, the highest since June 28. Qatar Islamic Bank , the G... |
2024-04-20 | Bloomberg | Treasuries 10-Year Yield Falls for Fifth Week on Europe | Treasury 10-year yields fell for the fifth straight week, the longest stretch since June, amid speculation the European sovereign-debt crisis is far from resolved. The yield on the 10-year note traded below 2 percent for a sixth day even as governments committed more than $430 billion in fresh money to the Internationa... |
2024-11-30 | Bloomberg | Third-Most Active Hurricane Season in Atlantic Ocean Ends, U.S. Is Spared | The third-most active Atlantic hurricane season officially ends today after causing at least $1.6 billion in damage and killing hundreds while leaving the U.S. virtually unscathed. The season produced 19 named storms, with winds of at least 39 miles (63 kilometers) per hour, tying for third place with 1995 and 1887, an... |
2024-11-09 | Bloomberg | Chubb Insurers Ordered to Suspend Sales in Washington State for 9 Months | Chubb Corp. , the insurer of corporate boards and high-end homes, was ordered to suspend policy sales through six of its subsidiaries in the state of Washington for violating rate-change laws. Washington Insurance Commissioner Mike Kreidler demanded that six Chubb subsidiaries stop writing new coverage for nine months ... |
2024-02-12 | Bloomberg | Canadian Currency Strengthens as Trade Surplus Buoys Interest-Rate Outlook | The Canadian dollar rose against most of its major counterparts as an unexpected trade surplus in December encouraged speculation the Bank of Canada will raise borrowing costs sooner than other central banks. The loonie advanced for a second week versus the yen in the longest stretch of gains since November as the Egyp... |
2024-06-08 | Bloomberg | European Stocks Post Biggest Weekly Gain in Four Months | European stocks posted their biggest weekly advance in four months as China cut interest rates and the European Central Bank said it’s ready to add more stimulus if the economy worsens. Banco Espirito Santo (BES) SA and CaixaBank (CABK) led gains on a gauge of lenders as Spain moved closer toward seeking emergency aid ... |
2024-02-15 | Bloomberg | OCBC Boosts Quarterly Profit on Non-Interest Income Gains | Oversea-Chinese Banking Corp. , Southeast Asia’s second-largest lender, posted a 12 percent gain in fourth-quarter profit as higher income from wealth management and insurance offset narrowed lending margin. Net income rose to S$663 million ($537 million) from S$594 million a year earlier, the Singapore-based bank said... |
2024-01-13 | Bloomberg | China Southern Slides as N.Y. Index Trims Gains: China Overnight | Chinese stocks in the U.S. tumbled, trimming their advance in the week, as the worsening debt crisis in Europe erodes the outlook for Asia’s fastest growing economy and diminishes the appeal of the nation’s assets. The Bloomberg China-US 55 Index slumped 1.3 percent to 99.02 as of 12:57 p.m. New York time, reducing its... |
2024-05-31 | Bloomberg | India Policy Freeze Saps Funds as Greek Fallout Risk Rises | Posco, the world’s third-largest steelmaker, took seven years to gain permission to build a mill in India , only to have the environmental approval suspended by a tribunal in March. Bahrain Telecommunications Co. (BATELCO) may sympathize after selling its share of mobile-phone operator STel Pvt. following the Indian Su... |
2024-07-02 | Bloomberg | Poland Will Use $20.4 Billion IMF Credit Line as a `Precautionary' Step | The International Monetary Fund approved a one-year, $20.4 billion credit line to Poland, money the country’s officials intend to treat as “precautionary” after similar financing expired in May. The so-called Flexible Credit Line, which comes with no conditions for economies deemed sound enough to qualify, is also use... |
2024-03-18 | Bloomberg | Osborne Mutes Stimulus Calls as He Sticks With U.K. Austerity | Chancellor of the Exchequer George Osborne promised another austere budget and policies designed to mute calls for a fiscal stimulus for the U.K. economy. Osborne said the pressures facing Cyprus are a reminder of what financial markets will do to nations that fail to act and suggested that he will resist calls in the ... |
2024-07-17 | Bloomberg | New York Life Names Benevento to Oversee Portfolio | New York Life Insurance Co., the largest U.S. life insurer owned by policyholders, named Steven Benevento to oversee its private-equity unit’s $8.8 billion portfolio. Benevento, 47, takes the newly created position of chief investment officer at New York Life Capital Partners, the firm said today in a statement. The CI... |
2024-06-13 | Bloomberg | Arizona’s Brewer Prevails in Bid Over Expanding Medicaid | Republican Governor Jan Brewer of Arizona scored a hard-fought victory against her party’s legislative leaders after winning passage of her plan to expand Medicaid to cover about 300,000 more residents. The final 18-11 vote today in the state Senate capped five months of maneuvering after Brewer, 68, shocked the politi... |
2024-05-09 | Bloomberg | Gillard Ends 42 Years of Spending Gains for Surplus | Australia’s government will cut spending for the first time in at least 42 years as Prime Minister Julia Gillard ends four years of budget deficits, giving the central bank flexibility to lower interest rates. The underlying cash surplus will be A$1.54 billion ($1.56 billion) in the 12 months to June 30, 2013, Treasure... |
2024-02-28 | Bloomberg | Transocean May Recover Deepwater Horizon Rig From Sea Floor | Transocean Ltd ., the world’s largest offshore oil driller, may attempt to recover some or all of the Deepwater Horizon rig that exploded and sank during last year’s Macondo well disaster. The wreckage, about a mile beneath the surface of the Gulf of Mexico, was surveyed in response to a Dec. 6 request from the U.S. Co... |
2024-12-08 | Bloomberg | U.K. Antitrust Regulator Seeks Wider Private Health-Care Probe | The U.K.’s initial regulator of antitrust issues plans to refer the private health-care market to the Competition Commission for further investigation of potential restrictions of the industry by dominant players. Patients, general practitioners and health insurance providers lack access to information on quality and c... |
2024-02-14 | Bloomberg | MF Parent, Creditor Plan ‘Not Confirmable’ on Fees, Suits | A proposed liquidation plan for MF Global Holdings Ltd. isn’t “confirmable” because of two key provisions, U.S. Bankruptcy Judge Martin Glenn said today at a court hearing in Manhattan. Under the plan, drawn up by banks and hedge funds including Citigroup Global Markets Inc. and Silver Point Capital LP, and revised wit... |
2024-11-21 | Bloomberg | Morocco’s Grain Imports Seen Rising to Record by UN on Harvest | Morocco ’s grain imports are set to jump 35 percent to a record in the 2013-13 season after cold weather and a drought curbed local wheat and barley production, the UN’s Food & Agriculture Organization said. Purchases may climb to 8.41 million metric tons from 6.24 million tons in 2011-12, the Rome-based United Nations... |
2024-01-17 | Bloomberg | Most U.S. Stocks Fall as World Bank Offsets Apple Rally | (Corrects Boeing aircraft model under ‘Boeing Slumps’ subhead.) Most U.S. stocks fell, following yesterday’s gain, as a cut in the World Bank ’s growth forecasts offset a rally in Apple Inc. as investors watched earnings. Boeing Co. (BA) slumped 3.4 percent as All Nippon Airways Co. and Japan Airlines Co., the world’s ... |
2024-10-12 | Bloomberg | MetLife May Sell Mortgage Business to Focus on Insurance | MetLife Inc. (MET) , the life insurer selling banking assets to limit federal oversight, may also seek a buyer for its mortgage operation as it increases focus on its main businesses. Chief Executive Officer Steven Kandarian , who took the job in May, is planning to exit a business that expanded in June when it replace... |
2024-07-16 | Bloomberg | Short `Squeeze' May Prompt Sears, Best Buy to Surge, Credit Suisse Says | Sears Holdings Corp. , the sixth worst-performing stock in the Standard & Poor’s 500 Index during the past six months, may surge with other heavily shorted companies should a rally prompt bearish investors to cover their bets, according to Credit Suisse Group AG. Undervalued stocks with high short interest such as Sea... |
2024-05-27 | Bloomberg | Mas Says CatalunyaCaixa Needs Aid Like Bankia, Vanguardia Says | Catalan regional President Artur Mas and Josep Duran i Lleida, a spokesman for Catalan party CiU, met with Spanish Economy minister Luis de Guindos on Friday to discuss the future of savings bank CatalunyaCaixa, La Vanguardia said. Mas and Duran said that CatalunyaCaixa should receive the same treatment as the Bankia G... |
2024-10-28 | Bloomberg | China’s Stocks Drop for Third Day; Insurers, Miners Retreat | China’s stocks dropped for a third day on concern earnings growth may slow because of the government’s policy tightening measures and the possibility interest rates may rise to slow inflation. Ping An Insurance (Group) Co. paced declines among insurers after third-quarter profit slid 26 percent. SAIC Motor Corp. fel... |
2024-02-05 | Bloomberg | Posco India, ING 401(k)-Trading, Ticking Up: Compliance | India’s Odisha state resumed land acquisitions to enable Posco (005490) , Asia’s third-largest steelmaker, to begin building a $12 billion steel plant, a project delayed for more than seven years by farmer protests and bureaucracy. The government of the eastern state Feb. 3 started the process of procuring 700 acres, a... |
2024-03-03 | Bloomberg | Treasuries Extend Losses After U.S. Unemployment Claims Unexpectedly Drop | Treasuries extended declines after the Labor Department reported initial claims for unemployment insurance unexpectedly fell last week. To contact the editor responsible for this story: Paul Cox at pcox16@bloomberg.net |
2024-09-20 | Bloomberg | Munger Says `Thank God' U.S. Opted for Bailouts Over Handouts | Charles Munger , the billionaire vice chairman of Berkshire Hathaway Inc. , defended the U.S. financial-company rescues of 2008 and told students that people in economic distress should “suck it in and cope.” “You should thank God” for bank bailouts, Munger said in a discussion at the University of Michigan on Sept. 1... |
2024-03-17 | Bloomberg | Cost of Living in U.S. Rose 0.5 Percent in February, More Than Forecast | The cost of living in the U.S. climbed more than forecast in February, led by the highest food prices since 2008 and rising fuel costs. The consumer-price index increased 0.5 percent, the most since June 2009, figures from the Labor Department showed today in Washington. Economists projected a 0.4 percent gain, accordi... |
2024-02-06 | Bloomberg | Gay-Marriage Holdout Hobbles R.I. Economy, Chafee Says | When most politicians push same-sex marriage, they talk about equal rights. Rhode Island Governor Lincoln Chafee has a different selling point: competitiveness. The Ocean State’s refusal to allow gay marriage sends a message of intolerance to technology and life-science companies he’d like to attract and puts the state... |
2024-01-08 | Bloomberg | Lithuania to Raise Taxes on High Earners, Finance Minister Says | Lithuania plans to raise taxes on high earners and property starting in 2014 as part of an overhaul of the Baltic nation’s tax system aimed at boosting revenue, Finance Minister Rimantas Sadzius said. The revamp will involve personal income tax, the untaxed minimum and social-insurance taxes, Sadzius said today. It wil... |
2024-03-10 | Bloomberg | ING Said to Talk With Citigroup, CIT, Chrysler Financial on U.S. Bank Deal | ING Groep NV (INGA) , preparing for a sale of its U.S. online bank, is looking to merge the unit with a lending operation and has talked in recent months with Citigroup Inc. (C) , CIT Group Inc. (CIT) and Chrysler Financial Corp., said people with knowledge of the matter. ING, the biggest Dutch financial-services compa... |
2024-09-14 | Bloomberg | Cablevision, Clearwire, Time Warner Cable: U.S. Equity Movers | Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 4 p.m. in New York. AutoChina International Ltd. (AUTC) slumped 30 percent to $19.92, the lowest price since August 2009. The car seller said yesterday near the end of the trading day that it pla... |
2024-01-30 | Bloomberg | Apple Fuels Silicon Valley Hiring Amid Bubble 2.0 Concern: Tech | Hiring in the technology sector is gaining momentum. Among U.S. technology companies with a market value of more than $100 million, almost 50 increased employment by more than half in the most recently reported two-year period, according to data compiled by Bloomberg. Some small and mid-size businesses boosted payrolls... |
2024-07-27 | Bloomberg | BlackRock Avoids Today's U.K. Indexed Bond Sale Amid Pension `Confusion' | BlackRock Inc., the world’s biggest asset manager, said it didn’t buy U.K. inflation-linked bonds at today’s sale amid “confusion” about the government’s planned changes to pension indexing. The Debt Management Office raised 6 billion pounds ($9.3 billion) from selling a 30-year index-linked bond which banks sold at t... |
2024-05-16 | Bloomberg | Hungary's Stimulus Flop Corners Orban Before IMF Talks Start | Hungarian Premier Viktor Orban ’s negotiating hand going into bailout talks with the International Monetary Fund has been weakened after the economy slumped the most in three years, said economists from London to Budapest. Hungary is headed toward joining the Czech Republic and Romania among eastern European countries ... |
2024-05-09 | Bloomberg | Obama Earmarks $150 Million for Clinics to Publicize Law | The Obama administration is enlisting the help of community health clinics to promote the 2010 health-care law in a $150 million effort to make sure uninsured people are aware of new medical coverage options available Oct. 1. The money will let the clinics hire and train staff and conduct community outreach and other e... |
2024-02-01 | Bloomberg | Macquarie Group Is Said to Compete for Deutsche Bank Asset-Management Unit | Macquarie Group Ltd. (MQG) , Australia ’s biggest investment bank , is vying with at least three companies to buy asset-management divisions from Deutsche Bank AG (DBK) , said two people with knowledge of the matter. The deadline for second-round offers is next week, and the German lender plans to reach an agreement by... |
2024-08-22 | Bloomberg | Scaramucci Raises Fund-of-Hedge-Funds Assets, Asian Bets | SkyBridge Capital LLC , organizer of the biggest U.S. hedge-fund event, raised its assets by 24 percent to $8.3 billion and allocated more money to Asian managers ahead of its second conference in the region. Assets have increased from $6.7 billion when it held its Asian inaugural SkyBridge Alternatives Conference , kn... |
2024-06-27 | Bloomberg | Deutsche Bank, UniCredit May Have to Raise Additional Capital After Basel | Deutsche Bank AG (DBK) , Germany ’s biggest lender, and UniCredit SpA (UCG) are among European banks that may have to raise additional capital after regulators dismissed lenders’ threats that stiffer rules may stunt economic growth. Regulators meeting in Basel this weekend agreed to make as many as 30 of the world’s la... |
2024-12-31 | Bloomberg | For-Profit Nursing Homes Lead in Overcharging While Care Suffers | A report by federal health care inspectors in November said the U.S. nursing home industry overbills Medicare $1.5 billion a year for treatments patients don’t need or never receive. Not disclosed was how much worse it is when providers have a profit motive. Thirty per cent of claims sampled from for- profit homes were... |
2024-10-10 | Bloomberg | Leumi Drops Most in Week as Eliahu Sells Stake: Tel Aviv Mover | Bank Leumi Le-Israel Ltd. (LUMI) retreated the most this month after the country’s second-largest lender said businessman Shlomo Eliahu sold shares at a discount. The stock fell 1.4 percent, the largest intraday retreat since Sept. 30, to 13.07 shekels at 1:45 p.m. in Tel Aviv. About nine million securities changed han... |
2024-06-01 | Bloomberg | Lloyds-Backed Indian Energy Expects Offer From Buyer in Weeks | Indian Energy Ltd. (IEL) , an operator of wind farms backed by Lloyds Banking Group Plc (LLOY) and AXA Investment Managers, expects a formal offer from a potential buyer within weeks. “We want to see a deal concluded in a relatively short period of time,” Chief Executive Officer Rupert J. Strachwitz, co-founder of the ... |
2024-09-13 | Bloomberg | Principal Sets Dividend Target at 40% of Net Income for 2018 | Principal Financial Inc., the seller of life insurance and retirement products, expects about 40 percent of net income to be paid to shareholders through dividends in 2018 as less capital is needed for organic growth. The 2018 projection calls for 30 percent to be invested in organic growth with the remaining 30 percen... |
2024-06-27 | Bloomberg | Rhode Island Votes to Pay Schilling Debt Averting Default | Rhode Island lawmakers eased the threat of defaulting on bonds that backed former Boston Red Sox pitcher Curt Schilling ’s video-game company, agreeing to cover the debt in a step that may preserve the state’s credit rating. By passing the $2.5 million payment 53-19 yesterday, Rhode Island’s House of Representatives ma... |
2024-07-06 | Bloomberg | GE's $120 Billion Asset Unit to Increase Holdings of Emerging-Market Debt | General Electric Co. ’s $120 billion asset management unit plans to increase holdings of emerging- market bonds to take advantage of the global economic recovery. GE Asset Management has 90 percent of its $60 billion of debt securities invested in U.S. assets, said Paul Colonna , who has been the Stamford, Connecticut... |
2024-09-02 | Bloomberg | EU Bans Syrian Oil After Assad Rejects Resignation Demands | The European Union banned imports of crude oil from Syria , expanding sanctions against President Bashar al-Assad’s regime for its deadly crackdown on protesters. The oil embargo approved by EU governments today in Brussels affects Syrian exports valued at 3.16 billion euros ($4.5 billion) in 2010, according to the Eur... |
2024-10-06 | Bloomberg | MetLife Has Charge of Up to $135 Million on Death Benefits | MetLife Inc. (MET) , the largest U.S. life insurer, said it will take a charge of $115 million to $135 million for the third quarter to adjust reserves as it uses additional data to identify cases where it hadn’t paid claims. The review involves the use of Social Security Administration death records, the New York-base... |
2024-01-25 | Bloomberg | Lloyd’s Nelson Pursues Overseas Insurers Amid Difficult Market | Lloyd’s of London Chairman John Nelson said he’s in talks with “major insurers overseas” given the “high level of interest” in the world’s oldest insurance market. “We are attracting serious overseas interest into London,” Nelson said in Davos, Switzerland, citing Aon Corp. (AON) ’s relocation to the U.K. capital from ... |
2024-11-01 | Bloomberg | RBS Sees ‘Substantial’ Full-Year Loss, Creates Bad Bank | Royal Bank of Scotland Group Plc expects to post a “substantial” full-year loss after transferring 38.3 billion pounds ($61 billion) of its worst loans to an internal bad bank under government pressure. Britain’s biggest publicly owned lender expects to log as much as 4.5 billion pounds of writedowns in the fourth quar... |
2024-06-24 | Bloomberg | FDIC’s Bair Says Banks Have ‘Plenty of Capacity’ to Lend | Federal Deposit Insurance Corp. Chairman Sheila Bair said banks will be able to meet higher capital standards with retained earnings and have “plenty of capacity to lend.” “The fact is that the capital requirements U.S. banks now face are mostly the same as those that were in existence before the crisis,” Bair said tod... |
2024-07-15 | Bloomberg | AIG Becomes `Benmosche Show' After Chairman's Departure | Robert Benmosche , the American International Group Inc. chief executive officer who clashed with Chairman Harvey Golub over the insurer’s restructuring, may find less resistance after forcing Golub’s departure. Benmosche, 66, told the board of New York-based AIG that his relationship with the chairman had become “ine... |
2024-10-03 | Bloomberg | Foster’s Firm to Design New Tower on NYC’s Park Avenue | Foster + Partners, the architectural firm run by Norman Foster, was chosen to design the first full- block office tower on Manhattan ’s Park Avenue to be built in almost 50 years, the developers said today. The London-based firm won the competition over finalists Richard Rogers, Rem Koolhaas and Zaha Hadid, Lehman Brot... |
2024-07-24 | Bloomberg | SAC Said to Face U.S. Prosecution in Insider-Trading Probe | U.S. prosecutors plan to charge SAC Capital Advisors LP, the hedge fund founded by Steven A. Cohen , as soon as this week as part of a wide-ranging probe of insider trading, according to a person familiar with the matter. The U.S. attorney’s office in Manhattan doesn’t plan to charge Cohen at this stage, said the perso... |
2024-08-01 | Bloomberg | Drought Spreads Into Towns as Decatur-Area Grain Bins Empty | In 25 years of managing the Heritage Grain Cooperative in a small town outside Decatur, Illinois , Jerry Rowe’s grain elevator never lost money. Until now. As the corn and soybeans from last year’s harvests disappear, replenishment from plants wilting in the worst drought in half a century is unlikely for Rowe’s elevat... |
2024-04-23 | Bloomberg | WellCare Director Resigns, Says Board Needs Greater Accounting Oversight | Harvard Business School professor Regina Herzlinger said she was forced off the board of WellCare Health Plans Inc., an insurer specializing in Medicare and Medicaid benefits, by directors acting against shareholders’ interests. Herzlinger said the insurer faces “serious challenges” and has underperformed its competit... |
2024-07-03 | Bloomberg | Turkey Inflation at 8.9 Percent Beats Estimates; Bonds Surge | Turkish inflation accelerated at a slower pace than expected last month, beating all economists’ expectations and prompting banks including Morgan Stanley to cut their forecasts. Bonds jumped. June inflation climbed to 8.9 percent from 8.3 percent in May, the statistics agency in Ankara said on its website today. The f... |
2024-12-06 | Bloomberg | Italy, Spain Lead Increase in European Sovereign Credit Risk | Italy and Spain led an increase in the cost of insuring bonds sold by Europe’s peripheral nations as divisions emerged over how best to limit contagion from the region’s budget deficit crisis. Credit-default swaps on Italy rose 8.5 basis points to 217.5 while Spain increased 20 basis points to 317, according to data pr... |
2024-05-31 | Bloomberg | Prudential US Acquisition | Prudential Plc, the U.K.’s biggest insurer, agreed to buy a life insurance unit from Swiss Re AG (SREN) for 398 million pounds ($621 million) in cash to expand in the U.S. Prudential will finance the acquisition of SRLC America Holding Corp., which manages closed life insurance funds, from existing cash holdings, Londo... |
2024-07-25 | Bloomberg | Southern Second-Quarter Profit Rises as Economy Rebounds | Southern Co. (SO) , the second-largest U.S. power company by market value, said second-quarter profit rose as it benefited from economic recovery in the four southeastern states it serves. Net income rose to $623 million, or 71 cents a share, from $604 million, or 71 cents, a year earlier, Atlanta-based Southern said i... |
2024-10-04 | Bloomberg | Claim Jumper, Lehman, DBSD, QOC, Visteon: Bankruptcy | Claim Jumper Restaurants LLC, the operator of a chain of 45 western-themed restaurants in eight states, is hoping for a successful auction when the operation goes up for bid on Oct. 28. A mini-auction was held in bankruptcy court last week when the restaurant chain sought approval of sale procedures. The company was pr... |
2024-03-30 | Bloomberg | Serbia’s Fourth-Quarter GDP Growth Revised to 0.4% From 0.8% | Serbia’s gross domestic product grew 0.4 percent in the last quarter of 2011, and the full-year expansion slowed to 1.6 percent as exports and investment declined on Europe ’s sovereign-debt crisis. The fourth-quarter and the 2011 full-year GDP data was revised today from 0.8 percent and 1.9 percent, respectively, in a... |
2024-10-01 | Bloomberg | Will the 'Young Invincibles' Join Obamacare? | (Corrects description of age group in 28th paragraph.) It’s no exaggeration to say that if young people don’t show up to the insurance exchanges in the next few months, the Affordable Care Act probably won’t survive. Young, healthy people paying more than they have previously -- either because they are buying more expe... |
2024-05-18 | Bloomberg | Facebook Gains in Public Debut After Record $16 Billion IPO | Facebook Inc. (FB) gained as much as 18 percent in its trading debut, following a record initial public offering that made the social network more costly than almost every company in the Standard & Poor’s 500 Index. (SPX) The shares advanced 11 percent to $42.18 at 11:30 a.m. in New York, after earlier surging as high... |
2024-07-22 | Bloomberg | CP2 to Buy Australia’s ConnectEast in Deal Valuing Company at $2.4 Billion | CP2 Ltd., an Australian infrastructure fund manager , agreed to buy the rest of ConnectEast Group (CEU) in a deal valuing the toll-road operator at A$2.17 billion ($2.4 billion). Shareholders should accept the cash offer of 55 Australian cents a share unless there’s a higher bid, ConnectEast’s independent directors sai... |
2024-07-16 | Bloomberg | U.S. Stocks Fall as Economy Concern Offsets Energy Gains | U.S. stocks fell, dragging the Standard & Poor’s 500 Index lower for the seventh time in eight days, after the International Monetary Fund cut its global economic forecast and retail sales unexpectedly dropped. JPMorgan Chase & Co. (JPM) lost 2.7 percent while Home Depot Inc. and Caterpillar Inc. (CAT) dropped more tha... |
2024-11-20 | Bloomberg | Consumer Bureau Yields to Title Insurers on Mortgage Rule | A U.S. rule that would have wrapped title insurance into the total costs listed on a simplified mortgage-disclosure form was dropped by the Consumer Financial Protection Bureau after industry complaints. The rule first proposed by the consumer bureau in July 2012 would have incorporated these costs into the calculation... |
2024-08-15 | Bloomberg | Spain’s Sabadell Said to Decide Against Sale of U.S. Unit | Banco de Sabadell SA , Spain ’s fifth-biggest bank, decided against a sale of its U.S. unit after assessing what suitors might pay for the division, said people with knowledge of the matter. The Sabadell, Spain-based lender in the past two months gauged interest from potential buyers for Sabadell United Bank NA in Miam... |
2024-06-22 | Bloomberg | Goldman Cuts Three-Month Copper, Aluminum, Zinc Target on Europe, China | Goldman Sachs Group Inc. lowered its near-term price forecasts for copper, aluminum and zinc as markets remain “fragile” on concerns that the Europe debt crisis may hamper growth and as China moves to cool its economy. Copper will trade at $6,800 a metric ton in three months time, 16 percent lower than a previous esti... |
2024-09-25 | Bloomberg | WellPoint Board Boosts Share Buyback to $4.2 Billion | WellPoint Inc. (WLP) , the second-biggest U.S. health insurer, increased its authorization to buy back shares to about $4.2 billion. WellPoint raised its share repurchase amount by $3.5 billion and intends to buy the stock “over a multi-year period, subject to market and industry conditions,” the Indianapolis-based com... |
2024-09-05 | Bloomberg | Dutch Limit Derivative Sales to Social Housing in Wake of Losses | The Netherlands placed greater restrictions on banks’ derivative sales to affordable-housing providers after Stichting Vestia Groep unwound billions of euros of soured interest-rate swaps at a loss this year. Housing associations will only be permitted to purchase so- called payer swaps and interest-rate caps from Oct.... |
2024-06-27 | Bloomberg | Goldman Sachs Targets 20% Brazil Hiring Surge for Complex Financing, LBOs | Goldman Sachs Group Inc. (GS) is increasing its Brazil workforce by about 20 percent this year to expand in an economy that’s growing more than twice as fast as the company’s home market. The Brazilian unit, which raised headcount to about 300 from 200 last year, plans to invest during 2011 in research, asset managemen... |
2024-11-07 | Bloomberg | Obama First Since FDR Re-Elected With 7.9% Joblessness | President Barack Obama , whose hope- and-change campaign promises yielded to grim economic realities in the White House, defied history to win re-election last night, as wary Americans seeing glimmers of a recovery handed him a second chance. Obama was re-elected with the highest unemployment rate of any president retu... |
2024-08-13 | Bloomberg | Bachmann Would Reduce Social Security, Medicare Pay for Future Recipients | U.S. Representative Michele Bachmann said she would reduce Medicare and Social Security benefits for all but current recipients as part of an effort to reduce the federal deficit. “We will reform the entitlement programs now, not five years from now, not 26 years from now, now,” Bachmann said on Bloomberg Television’s ... |
2024-07-02 | Bloomberg | Connecticut Investigates WellPoint Security Breach That May Affect 500,000 | Connecticut Attorney General Richard Blumenthal said he is investigating “a massive security breach” at WellPoint Inc. that may have compromised financial and health information on almost 500,000 people. Blumenthal wrote to the Indianapolis-based company, the largest U.S. health insurer, asking for information on how ... |
2024-03-05 | Bloomberg | Rona CEO Weighs 2013 Asset Sales to Revive Profit Growth | Rona Inc. (RON) will decide this year whether to sell big-box stores outside Quebec as Canada’s largest home-improvement retailer revamps after rejecting a takeover bid from Lowe’s Cos. The chain is trying to boost profit 15 percent by cutting jobs and shrinking or selling underperforming units. Its review of “non-core... |
2024-06-24 | Bloomberg | Surgery Cost Caps Save Pension Fund 19% Without Hurting Health | The nation’s largest pension fund and health insurer WellPoint Inc. (WLP) cut medical costs 19 percent by capping the price of some surgeries, in the latest sign payers are taking a tougher line against rising hospital claims. The California Public Employees Retirement System saved $5.5 million under a pilot project it... |
2024-08-11 | Bloomberg | L.A. Water Agency Sells $311 Million as California Offers Dip: Muni Credit | Los Angeles ’s water agency, which serves a population of more than 4 million, will price $311.6 million of revenue bonds today as municipal issuance in California drops to its lowest level since 2000. Issuers sold about $15 billion of fixed-rate securities from Jan. 1 through yesterday, half the $30 billion of long-te... |
2024-11-04 | Bloomberg | Obama Enlists Support to Counter Health Care Law Critics | President Barack Obama urged his most loyal supporters to promote the benefits of his health-care law, as his White House works to stem the political damage caused by weeks of technical failures and criticism. “I’ve got one more campaign in me: The campaign to make sure this law works for everyone in America,” Obama to... |
2024-10-14 | Bloomberg | U.S. Stock Futures Erase Gains After Jobless Claims Unexpectedly Increase | U.S. stock-index futures erased gains after initial jobless claims unexpectedly increased and wholesale costs rose at a pace that suggests limited demand is restraining inflation. Futures on the Standard & Poor’s 500 Index expiring in December fell 0.2 percent to 1,172 at 9:07 a.m. in New York after rising as much as 0... |
2024-01-22 | Bloomberg | Juncker Takes Euro Act Offstage in Handoff to Newest Minister | Luxembourg Prime Minister Jean- Claude Juncker, Europe ’s most seasoned politician, was either making up policy on the hoof or had blurted out a decision that was supposed to be secret. Briefing reporters close to midnight on Nov. 12, Juncker mumbled that Greece’s debt-reduction timetable was being extended to 2022 fro... |
2024-09-05 | Bloomberg | Top Fund Manager Adds Banks After Stress Tests: Corporate India | Indian banks, which posted their biggest rally in four years yesterday, will defy predictions of worsening bad loans with the economy poised for a rebound, according to the nation’s biggest money manager. HDFC Asset Management Co.’s Mid-Cap Opportunities Fund is raising stakes in non-state lenders after the fund’s stre... |
2024-04-18 | Bloomberg | U.S. Stocks Slump as S&P Cuts Nation’s Long-Term Credit Outlook | U.S. stocks slumped, sending benchmark indexes to their biggest declines in a month, after Standard & Poor’s Ratings Service cut the nation’s long-term credit outlook to negative. Caterpillar Inc. (CAT) and United Technologies Corp. (UTX) sank at least 2.1 percent to help pace the declines in the Dow Jones Industrial A... |
2024-07-20 | Bloomberg | Transatlantic to Pursue Better Validus Offer to Beat Allied | Transatlantic Holdings Inc. (TRH) , the reinsurer that agreed to merge with Allied World Assurance Company Holdings AG, said it will ask Validus Holdings Ltd. (VR) to improve its counteroffer. “The Validus proposal is reasonably likely to lead to a superior proposal,” Transatlantic’s board said yesterday in a statement... |
2024-08-10 | Bloomberg | Doji Chart May Halt 10-Year Slump, BofA Says: Technical Analysis | The trend that has driven Treasury 10-year notes to nearly twice the return of the broader U.S. debt market since mid-March is intact, even as the securities are poised for their third weekly decline, according to Bank of America Corp., citing analysis of trading patterns. The benchmark securities’ yield movements on a... |
2024-06-28 | Bloomberg | Most Asian Stocks Decline; Japanese Banks Drop on Mizuho's Share-Sale Plan | Most Asian stocks fell as a weekend meeting of Group of 20 leaders failed to reassure investors about the strength of the global economic recovery. Japanese banks declined, while energy producers advanced. Mizuho Financial Group Inc. , Japan’s No. 3 bank by market value, sank 2.6 percent in Tokyo on plans to raise mon... |
2024-09-12 | Bloomberg | Euro Rises to 4-Month High as Court Clears Bailout Path | The euro rose to its highest level in four months against the dollar after a German court cleared the way for ratification of Europe ’s permanent bailout fund, boosting demand for the shared currency. The 17-nation euro rose for a second day versus the yen as the court dismissed motions seeking to block the fund, while... |
2024-06-19 | Bloomberg | Allianz Sticking to ‘Classic’ Life Insurance Model, FTD Says | Allianz SE (ALV) ’s Allianz Leben unit is sticking to its “classical” life insurance business model rather than sharing interest-rate risks with clients, Markus Faulhuber, chief executive officer of the division, told Financial Times Deutschland. Allianz Leben’s competitors are struggling as low interest rates make it ... |
2024-11-15 | Bloomberg | Cuomo Pushing Computer Chips Aids Best N.Y. Rally: Muni Credit | A continent away from Silicon Valley, Governor Andrew Cuomo is promoting New York ’s Tech Valley as an engine of the upstate economy, luring billions of dollars of investment to help pad financially strapped local budgets. Cuomo last month announced a $1.7 billion plan to bring atom-sized computer-chip research -- know... |
2024-02-02 | Bloomberg | Super Bowl Lands on Taxpayers’ Backs as Indianapolis Stadium Deal Sours | While Super Bowl fans are riding zip lines through downtown Indianapolis this week in the runup to the National Football League ’s championship game, taxpayers are digging deeper in their pockets to pay for the stadium where the game will be played. The $720 million Lucas Oil Stadium, where the New York Giants meet the... |
2024-08-06 | Bloomberg | Treasury Two-Year Yields Drop to Record Low After U.S. Economy Loses Jobs | Treasuries rallied, pushing two-year note yields below 0.50 percent for the first time, after the government’s payrolls report showed the economy lost more jobs in July than economists forecast. Bonds were headed for a weekly gain as hiring by private employers trailed estimates from analysts, encouraging speculation ... |
2024-04-18 | Bloomberg | Canada Stocks Climb as Mining Companies Rally With Gold | Canadian stocks rebounded from a five-month low as crude and gold prices climbed and U.S. jobless claims held steady, signaling the labor market is stabilizing. Kinross Gold Corp. and Alamos Gold Inc. advanced at least 4 percent, while Bankers Petroleum Inc. and Legacy Oil + Gas Inc. jumped more than 6 percent. Toronto... |
2024-09-30 | Bloomberg | China Watchdog Embraces Risk After Everbright Fat Finger | China ’s securities watchdog is forging ahead with rules that allow brokers to invest in complex financial products and enter risky new businesses even after an unprecedented $3.8 billion trading error roiled markets. In the past six weeks, the China Securities Regulatory Commission ended an 18-year hiatus on trading o... |
2024-08-12 | Bloomberg | Jefferson Ch. 9 Vote Chance ‘50-50,’ Commissioner Says | (Corrects Guaranty to Guarantee in fifth paragraph.) There is a “50-50” chance that Jefferson County, Alabama , officials will vote to file for Chapter 9 bankruptcy tomorrow, Commissioner Sandra Little Brown said today after seeing creditors’ latest offer. While the gap between creditors holding $3.14 billion of the co... |
2024-07-13 | Bloomberg | Europe IPO Filings Climb as Offerings Beat U.S. in Debt Crisis | European companies are preparing the most initial public offerings in two years after IPOs weathered the region’s debt crisis and outperformed U.S. deals. Fairfield Energy Plc, Stroer Out-of-Home Media AG and 57 other companies filed with regulators in the past three months to raise $14.2 billion through initial sales... |
2024-04-26 | Bloomberg | MetLife Operating Profit Rises 11% on Asia Revenue Growth | MetLife Inc. (MET) , the largest U.S. life insurer, said operating earnings climbed 11 percent in the first quarter as revenue rose in Asia and the Americas. Operating profit , which excludes some investment results, increased to $1.46 billion, or $1.37 per share, from $1.32 billion, or $1.23, a year earlier, the New Y... |
2024-06-30 | Bloomberg | Bankruptcies Show States Recovering From Recession: Joe Mysak | A South Carolina toll road’s Chapter 9 filing last week is just the third municipal bankruptcy this year, suggesting that states and municipalities may be emerging from the recession. Bankruptcies and bond defaults both declined in the first half of 2010, as state and local governments raise taxes and fees and cut spe... |
2024-10-15 | Bloomberg | HSBC Ends Talks to Acquire Nedbank, Old Mutual Says | HSBC Holdings Plc abandoned a bid to buy a $7.3 billion controlling stake in South Africa’s Nedbank Group Ltd. , less than three weeks after Europe’s largest bank replaced its chairman and chief executive officer. The London-based lender had been in talks for eight weeks to buy as much as 70 percent of Nedbank, includi... |
2024-05-27 | Bloomberg | Obama’s Dangerous Contempt for the Rule of Law | Whatever the investigation into misconduct at the Internal Revenue Service reveals, we already have all the evidence we need to understand President Barack Obama ’s fundamental attitude toward the rule of law. That evidence is right there in the public record, and what it shows is indifference and contempt. The Constit... |
2024-07-26 | Bloomberg | Canada’s Deficit Widens in First Two Months on Inflation | Canada ’s budget deficit widened in the first two months of the fiscal year as slower than expected inflation damped revenue growth. The federal government ran a deficit of C$2.71 billion ($2.63 billion) in April and May, compared with a two-month gap of C$1.82 billion a year ago, the finance department said in an e-ma... |
2024-07-30 | Bloomberg | U.K.'s Highest-Grossing Law Firm Clifford Chance Sees India Office by 2012 | Clifford Chance LLP , the U.K.’s highest-grossing law firm, expects to have an office in India by late 2012 after the country lifts restrictions on foreign lawyers, said Stuart Popham , the firm’s senior partner. “If I said 18 months I would probably be optimistic, if I said 2 1/2 years I would be unduly pessimistic,”... |
2024-12-22 | Bloomberg | Obama Prods Congress to Prevent Tax Increase on 98% | President Barack Obama , facing a budget stalemate with Republicans, urged leaders of both parties to assemble an interim bill to keep taxes from rising on middle- income Americans as they work on a more comprehensive plan. Obama said “all of us agree” that rates shouldn’t go up for 98 percent of taxpayers when the new... |
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