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2024-06-28 | Bloomberg | Florida Insurance Fraud Climbs on 58% Surge in Intentional Auto Crashes | Insurance fraud jumped in Florida as policyholders crashed their cars on purpose to generate medical claims, an industry group said. Staged accidents surged 58 percent to 1,999 in 2009, the National Insurance Crime Bureau said today in a statement. Tampa led the increase as intentional crashes quadrupled to 487, the g... |
2024-06-26 | Bloomberg | Co-Op Bond Investors Seek Legal Advice on Capital Restructure | Co-Operative Bank Plc bondholders are forming groups to negotiate a better financial deal under a debt restructuring designed to help the U.K. lender raise 1.5 billion pounds ($2.3 billion). One group of investors hired Boston-based law firm Brown Rudnick LLP, according to a person with knowledge of the plan who asked ... |
2024-03-12 | Bloomberg | S&P 500 Falls After 7-Day Rally Drove Index Toward Record | Most U.S. stocks fell as the Standard & Poor’s 500 Index snapped a seven-day rally that drove the benchmark gauge to within nine points of its record high. Apple Inc. slumped 2.2 percent as IDC predicted the company will lose market share in the tablet market. Citigroup Inc. dropped 1.4 percent as financial shares retr... |
2024-12-17 | Bloomberg | Highest-Paid California Trooper Is Chief Banking $484,000 | California Highway Patrol division chief Jeff Talbott retired last year as the best-paid officer in the 12 most-populous U.S. states, collecting $483,581 in salary, pension and other compensation. Talbott, 53, received $280,259 for accrued leave and vacation time and took a new job running the public-safety department ... |
2024-11-16 | Bloomberg | UBS Chief Gruebel Reiterates Targets, Says Regaining `Trust' | UBS AG Chief Executive Officer Oswald Gruebel reiterated his profit goals and said Switzerland’s biggest bank is “regaining client trust” after record losses in 2008. “Our businesses have taken great strides, and we will not rest until this progress is fully reflected in our financial performance,” Gruebel said in an e... |
2024-06-17 | Bloomberg | FDIC’s Complex-Firms Chief Exits as Banks Write New Wills | Jim Wigand, who oversees the Federal Deposit Insurance Corp.’s Dodd-Frank Act powers to dismantle the most complex U.S. banks in a crisis, is stepping down next month. Wigand, the FDIC’s chief of oversight for complex financial firms, departs July 28, according to the agency. He’ll be succeeded by Arthur J. Murton, dir... |
2024-03-17 | Bloomberg | Clinton Says Libya Options Include Drones and Arming Rebels | U.S. Secretary of State Hillary Clinton said that options being considered for action against Libya include the use of drones, bombing air defense systems and arming rebel forces. Clinton, in a reply to questions by reporters on a trip to Tunisia, said “those kinds of specificities are exactly what’s being negotiated a... |
2024-10-30 | Bloomberg | ‘Pearl Harbor’ Looms for Vulnerable Networks: McConnell | The U.S. is losing a “cyberwar” and it will take a “cyber Pearl Harbor ” for the country to take the steps necessary to protect critical computer systems, the nation’s former intelligence chief said. Efforts to get companies to agree to voluntary steps to protect against hackers have failed because they see risks of po... |
2024-09-20 | Bloomberg | FDIC’s Hoenig Says Banks May Revisit Pre-2008 Risky Behavior | If big U.S. banks are not forced to sever their investment arms from traditional banking, they will return to behavior that led to the 2008 credit crisis, said Federal Deposit Insurance Corp. board member Thomas Hoenig. “The behavior and practices leading to this crisis will soon reemerge and these highly complex, more... |
2024-02-28 | Bloomberg | Goldman Playing Cowboy in Chile Seen Luring U.S. Copycats | Goldman Sachs Group Inc. (GS) ’s plan to sell bonds with a maturity of up to 50 years in Chile may pave the way for more offerings from U.S. companies. The fifth-largest U.S. bank by assets is seeking authorization to issue bonds worth 20 million unidades de fomento , the country’s inflation-linked accounting unit, whi... |
2024-02-26 | Bloomberg | RBS May Hire Andy Haste for Direct Line Job, Telegraph Says | Royal Bank of Scotland Group Plc (RBS) is considering former chief executive officer of RSA Insurance Group Plc Andy Haste for chairman of its Direct Line Group unit, the Sunday Telegraph reported today, without saying where it obtained the information. An RBS spokesman declined to comment and Haste did not return tele... |
2024-12-21 | Bloomberg | Park Presidency Gives Fighting Chance to Korea’s Chaebols | Park Geun Hye’s election as South Korea ’s 18th president lowers the risk that families in control of the chaebols dominating the economy will see their power reduced. Opposition candidate Moon Jae In had proposed breaking up cross-shareholdings used by the founding families of Samsung Electronics Co. (005930) and Hyun... |
2024-02-23 | Bloomberg | Oil Jumps to Nine-Month High on U.S. Jobs: Commodities at Close | The Standard & Poor’s GSCI gauge of 24 commodities rose 0.7 percent to 707.74 at 3:58 p.m. in New York , the highest settlement since June 9. The UBS Bloomberg CMCI index of 26 raw materials was up 0.2 percent at 1,644.332. CRUDE OIL Oil rose to the highest level in more than nine months as jobless claims held at a fou... |
2024-11-12 | Bloomberg | Sensitive Index Slides As Factory Output Slows; Hindalco, Mahindra Drop | India’s benchmark stock index dropped the most in five months as growth in the nation’s industrial production unexpectedly slowed to a 16-month low. Mahindra & Mahindra Ltd. , the largest maker of sport- utility vehicles and tractors, declined the most since May. Output at factories, utilities and mines rose 4.4 percen... |
2024-07-10 | Bloomberg | Maryland, New York, Oklahoma Banks Shuttered as Failures This Year Hit 90 | Regulators shut four banks with $1.13 billion in combined assets, sending the number of U.S. failures this year to 90. Home National Bank of Blackwell, Oklahoma, was the largest bank to be seized, with $644.5 million of assets, according to statements on the Federal Deposit Insurance Corp.’s website. The closures cost... |
2024-03-30 | Bloomberg | Wisconsin Judge Bars Further Implementation of Labor Law After Arguments | A Wisconsin law meant to limit public employees’ collective-bargaining rights was again blocked by a judge who renewed her temporary order as state officials disagreed over whether the statute was already in force. Circuit Court Judge Maryann Sumi yesterday issued a two- page ruling barring “further implementation” of ... |
2024-02-06 | Bloomberg | Allstate Profit Beats Analysts’ Estimates | Allstate Corp. , the largest publicly traded U.S. auto and home insurer, reported fourth-quarter profit that beat analysts’ estimates after superstorm Sandy. Shares gained in extended trading. Net income fell to $394 million, or 81 cents a share, from $712 million, or $1.40, a year earlier, the Northbrook, Illinois-bas... |
2024-06-14 | Bloomberg | Medicare Cuts Would Hit Republican Lawmakers | Republican Michael Fitzpatrick of Pennsylvania backed a U.S. House plan in April to privatize Medicare even though his congressional district would feel the impact more than almost anywhere else in the nation. While the House plan was later rejected by the Senate, it may be a potent 2012 campaign issue for Democrats. N... |
2024-02-14 | Bloomberg | Obama Focuses on Taxing High Earners in Proposing Dividend Shift in Budget | President Barack Obama called for $1.4 trillion in fresh revenue from Americans at the top of the income scale, proposing higher taxes on wages and investments and limiting breaks for retirement savings and health insurance. The tax proposals in the administration’s fiscal 2013 budget plan, released yesterday, were imm... |
2024-09-27 | Bloomberg | Malaysia Sells Inaugural 30-Year Bonds to Yield 4.935 Percent | Malaysia sold its first 30-year bonds, its longest maturity, as the Southeast Asian nation seeks to set a new benchmark for the local debt market. The 2.5 billion ringgit ($776 million) of notes maturing September 2043 were priced to yield 4.935 percent, and attracted 6.1 billion ringgit of orders, central bank data re... |
2024-06-20 | Bloomberg | Primerica Channeling R. Kelly Packs Dome With Believers | About 35,000 people waved towels and banged inflatable noisemakers as Primerica Inc. (PRI) ’s co-Chief Executive Officer John Addison walked across the stage of the Georgia Dome in front of exploding fireworks. “What we need, Primerica needs, is you, you, you in your seat right now, at your best to commit to go to a le... |
2024-10-04 | Bloomberg | BlackBerry Drop Reveals Biggest Discount of North American Deals | Investors are growing more skeptical that a tentative $4.7 billion bid for smartphone maker BlackBerry Ltd. (BB) will succeed, with the stock trading at the biggest discount among similar North American takeovers. Fairfax Financial Holdings Ltd. (FFH) ’s $9-a-share tentative offer for BlackBerry is 17 percent higher th... |
2024-11-25 | Bloomberg | The Working Poor Pay High Taxes, Too | As Washington works out a deal (or doesn't) to resolve the fiscal cliff, negotiations will center on federal marginal income tax rates. President Barack Obama wants rates to go up on high earners, with the top rate returning to nearly 40 percent. Congressional Republicans would prefer to trim back tax deductions to avo... |
2024-05-27 | Bloomberg | Aflac, Babcock & Wilcox, Gordmans, Itron: 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. Advanced Analogic Technologies Inc. (AATI) surged 55 percent, the most since at least August 2005, to $6.03. The maker of power-management chips for mobile phones and computers... |
2024-07-27 | Bloomberg | Rate-Cut Bets Ended as Faster Inflation Beats Slowdown: Australia Credit | Australia’s fastest inflation since 2008 means Reserve Bank Governor Glenn Stevens will maintain the developed world’s highest borrowing costs even as evidence mounts the economy will slow, money markets show. Two-year government bond yields climbed 13 basis points to 4.50 percent yesterday, the biggest jump since Feb.... |
2024-04-09 | Bloomberg | Structured Notes Mirror JPMorgan’s London Whale Credit Trades | Banks are boosting sales of structured notes based on derivative bets similar to those that cost JPMorgan Chase & Co. (JPM) more than $6 billion in the so-called London Whale loss. Nordea Bank AB (NDA) , SEB AB and BNP Paribas SA (BNP) sold more than $60 million of notes this year tied to portions of credit- default sw... |
2024-10-17 | Bloomberg | Too-Big-To-Fail Insurers Need to Cut Risks, Association Says | Insurers deemed too big to fail should cut systemic risks, increase capital buffers and improve their liquidity planning to reduce the impact on economic activity should they collapse, an industry regulator said. The proposals by the International Association of Insurance Supervisors also include measures for more inte... |
2024-10-30 | Bloomberg | Artemis Wins Trial Over California $4 Billion Junk Bonds | Francois Pinault ’s Artemis SA holding company prevailed at a trial over $4.33 billion in profits and interest sought by the California insurance commissioner from a junk-bond portfolio sold to French investors in 1991. A federal jury in Los Angeles yesterday rejected the claim that if not for a conspiracy by the Frenc... |
2024-03-27 | Bloomberg | Bernanke Says Fed Crisis Response Prevented Global Meltdown | Federal Reserve Chairman Ben S. Bernanke said the central bank’s aggressive response to the 2007-2009 financial crisis and recession helped prevent a worldwide catastrophe. “We did stop the meltdown,” Bernanke said today in the third of four lectures to undergraduates at George Washington University. “We avoided what w... |
2024-11-25 | Bloomberg | Paris Office Market Wilts to 10-Year Low as Taxes Crimp Spending | In the heart of Paris’s swanky 7th arrondissement, the 17th-century Laennec hospital is being refurbished to house Gucci-owner Kering SA’s new headquarters. For Olivier Wigniolle, the chief executive officer of Allianz Real Estate France , which owns the site, the Kering project is a bright spot in an otherwise gloomy ... |
2024-09-09 | Bloomberg | Porsche Shares Plunge After Volkswagen Merger Fails Over Pending Lawsuits | Porsche SE plunged the most in more than two years after saying efforts to combine with Volkswagen AG (VOW) by the end of 2011 had failed because of pending lawsuits. The merger has been held up by lawsuits in the U.S. and an investigation by German prosecutors linked to Porsche’s botched effort to buy VW. The two carm... |
2024-06-01 | Bloomberg | Allstate’s Greffin Invests in Property, Infrastructure | Allstate Corp. (ALL) , the home and auto insurer with more than $80 billion in fixed-income investments, is scaling back bond holdings and buying real-estate equity and infrastructure assets as it prepares for rising inflation. “We should favor alternatives and inflation protection over fixed income,” Chief Investment ... |
2024-04-21 | Bloomberg | MBIA Credit Swaps Drop on Speculation Morgan Stanley May Sell More Hedges | The cost to protect against a default by the MBIA Inc. (MBI) unit that guaranteed some of Wall Street’s most toxic debt securities dropped for a fifth day as Morgan Stanley’s chief financial officer said the bank hasn’t closed out hedges that insure against an MBIA failure. Five-year credit-default swaps on MBIA Insura... |
2024-02-03 | Bloomberg | Belgium Turns to Reynders to Find Way Through Nation's Political Deadlock | Belgium called on Finance Minister Didier Reynders to reconcile feuding Flemish and French-speaking political parties in the latest attempt to put an end to the longest government-formation deadlock in Europe. Reynders, 52, head of the French-speaking Liberals, accepted a two-week mission to explore the prospects for a... |
2024-11-18 | Bloomberg | Democrats Downplay Lawmaker Defections Over Affordable Care Act | Democratic lawmakers downplayed the support some members of their party gave to a Republican bill that would let insurers sell for another year health policies that don’t meet the requirements of the Affordable Care Act. House Democratic leader Nancy Pelosi of California , speaking yesterday on NBC’s “Meet the Press,” ... |
2024-10-17 | Bloomberg | Banker Bonus Link With Sales Disappearing, FCA’s Wheatley Says | The biggest banks in the U.K. are moving away from a culture of linking sales to bonuses after a series of scandals where products were improperly sold to consumers, the head of the markets regulator said. “The early analysis -- and I think we have to stress this is early analysis -- shows three of the biggest U.K. ban... |
2024-03-28 | Bloomberg | Both Parties See Signs They’ll Win in U.S. Health Ruling | Republicans and Democrats in Congress said they saw signs of eventual victory as the U.S. Supreme Court (1000L) finished the second of three days of arguments on the health-care overhaul that cleared Congress on party lines. On the Capitol lawn after yesterday’s session, Republican leaders who oppose the 2010 law said ... |
2024-09-30 | Bloomberg | First U.S. Shutdown in 17 Years Imminent With No Talks | The U.S. government stands poised for its first partial shutdown in 17 years at midnight tonight, after a weekend with no signs of negotiations or compromise from the Congress or the White House. House Republicans, led by Speaker John Boehner , want to delay President Barack Obama ’s Affordable Care Act for a year and ... |
2024-12-30 | Bloomberg | Emerging Stocks Advance, Set for Second Annual Gain, Amid Global Recovery | Emerging-market stocks rose, with a benchmark index headed for its second straight annual gain, as investors bet global funds will continue to buy more shares in developing nations amid an accelerating economic recovery. The MSCI Emerging Markets Index advanced 0.5 percent to 1,142.59 at 2:25 p.m. in Singapore, set for... |
2024-02-21 | Bloomberg | Swiss Re Plans $2.8 Billion Payout on Lower Disaster Loss | Swiss Re Ltd. (SREN) , the world’s second- biggest reinsurer, plans to return about $2.8 billion to shareholders after lower natural catastrophe claims last year boosted excess capital. Swiss Re shares climbed to the highest level in almost five years after the Zurich-based company said investors will receive a special... |
2024-05-10 | Bloomberg | SEC’s Gallagher Wants the Fed Back in its Regulatory Box | Securities and Exchange Commission member Daniel Gallagher says the Federal Reserve is pushing even deeper onto his agency’s turf than Congress intended when it rewrote the rules of financial regulation three years ago. Gallagher, a Republican, is fanning a conflict rooted in the 2010 Dodd-Frank law, under which the SE... |
2024-12-09 | Bloomberg | U.S. October International Trade in Goods and Services (Text) | The following is the text of the U.S. trade balance report for Oct. released by the Commerce Department. Goods and Services The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce , announced today that total October exports of $179.2 billion and imports of $222.6 billion res... |
2024-03-21 | Bloomberg | Ohio Approves Turnpike Bonding Plan to Fund Transportation Work | The Ohio House of Representatives sent Governor John Kasich a plan to have the Ohio Turnpike borrow $1.5 billion for transportation projects. The House today voted 62-27 for the measure, which was included in a transportation budget bill. It allows the Ohio Turnpike Commission to issue $1 billion in bonds this year and... |
2024-12-22 | Bloomberg | Hong Kong Stocks Snap Rally on European Loans, U.S. Home Sales | Hong Kong stocks (HSI) fell, snapping two days of gains, as European banks sought record loans from the region’s central bank and sales of existing U.S. homes missed forecasts, damping the global demand outlook. Exporters and shipping companies led declines. Li & Fung Ltd. (494) , the biggest supplier to Wal-Mart Stor... |
2024-12-07 | Bloomberg | Former FDIC Chief Bair Calls for Stiffer Rules on Leverage | Former Federal Deposit Insurance Corp. Chairman Sheila Bair , in testimony to U.S. lawmakers, pushed for stiffer global limits on how much banks can borrow. The leverage ratio adopted by the Basel Committee on Banking Supervision needs to be increased, Bair told the Senate Subcommittee on Financial Institutions and Con... |
2024-07-05 | Bloomberg | Treasuries Drop as Dollar Jumps, U.S. Stocks Gain on Jobs | Treasuries sank, sending the 10-year yield to the highest since August 2011, while the dollar rallied and gold tumbled as faster-than-forecast jobs growth fueled bets the Federal Reserve will begin to reduce its bond buying. U.S. stocks extended a weekly advance. The rate on the 10-year U.S. note climbed 22 basis point... |
2024-08-02 | Bloomberg | RBS Names McEwan CEO as Operating Profit Drops; Shares Slip | Royal Bank of Scotland Group Plc , Britain’s biggest publicly owned lender, named the head of its U.K. consumer unit chief executive officer as the government presses the lender to shrink its investment bank. Ross McEwan, 56, will replace Stephen Hester on Oct. 1, the lender said in a statement today. Operating profit ... |
2024-04-03 | Bloomberg | Barclays Report Finds Bonuses Incapable of Justification | Barclays Plc (BARC) , the U.K.’s second- largest lender by assets, paid investment bankers bonuses “incapable of justification” as employees focused on revenue at the expense of clients, according to an internal report. In the report commissioned by the bank after it was fined 290 million pounds ($428 million) for mani... |
2024-07-28 | Bloomberg | Rich-World Credit Ratings Take a Dive: The Ticker | If the U.S. government fails to get enough of a grip on its long-term finances to keep its AAA credit rating, it will have company. Throughout the developed world, governments' ratings are headed down -- a trend that could become a big problem if and when the next financial crisis hits. Among the 17 advanced nations St... |
2024-07-29 | Bloomberg | Wells Fargo's Stumpf Sees New Costs for Customers | Wells Fargo & Co. Chief Executive Officer John Stumpf said customers, not just the bank, will bear the financial burden for U.S. regulations that cover services ranging from home loans to credit cards. “I can’t guarantee that we won’t pass on some of those costs,” Stumpf, 56, said in an interview at his San Francisco ... |
2024-09-21 | Bloomberg | Hedge Funds, Credit Cards, Trading Review: Compliance | The world’s largest hedge-fund advocacy group has named a former U.S. Securities and Exchange Commission official its chairman as the $2.1 trillion industry grapples with increased regulation. Kathleen Casey , who stepped down as a Republican SEC commissioner last year, was appointed non-executive chairman of the Alter... |
2024-02-13 | Bloomberg | Obama Budget Unique Source for $3 Trillion | President Barack Obama ’s budget outlines his ideas for how the government may spend $3.8 trillion in fiscal 2013. There’s no similar document accounting for where taxpayers’ money actually goes. At least three federal sources tally spending, each following its own rules to produce a different total. For the 15 Cabinet... |
2024-02-10 | Bloomberg | Allstate CEO Wilson Says Sale of Bank Lets Insurer Sidestep Tighter Rules | Allstate Corp. Chief Executive Officer Thomas Wilson , who agreed to sell the insurer’s banking unit four months after meeting with the Federal Reserve , said he expects to sidestep tighter regulation by exiting the business. “Our meeting at the Fed in October was a ‘Hi, we’re about to become your holding company regul... |
2024-07-10 | Bloomberg | Soybean & Corn Advisor Reduces U.S. Corn Area | (Corrects company name in first paragraph.) U.S. corn and soybean acreage will be lower than previously expected as farmers abandon more fields due to drought, according to Michael Cordonnier, the president of Soybean & Corn Advisor Inc. The outlook for corn harvested acreage was cut by 200,000 acres to 88.3 million ac... |
2024-12-15 | Bloomberg | U.K. Drivers Told They Won’t Need Paper Licenses From 2015 | The U.K. Department for Transport said it won’t require drivers to hold a paper counterpart to their licenses from 2015, a move aimed at easing bureaucracy. The government also said it’s asking insurers whether there’s a way to remove the requirement for drivers to have certificate proof of insurance on their car. In a... |
2024-09-19 | Bloomberg | Billionaire Reddy to Sell $1 Billion Unit Stake to Buy Mines | GVK Group, controlled by Indian billionaire G.V. Krishna Reddy, plans to raise $1 billion selling a stake in its energy unit to help fund the purchase of coal assets from a company owned by Australia ’s richest woman. The group that runs airports and builds power plants and highways, plans to sell the stake in GVK Coal... |
2024-12-05 | Bloomberg | Gross Recommends TIPS as U.S. Yields Lag Behind Inflation | Bill Gross recommended Treasury Inflation Protected Securities as U.S. five-year yields lagged behind the inflation rate by the most in six months. Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co., said investors should avoid longer- term Treasuries because policies to spur growth will... |
2024-04-14 | Bloomberg | South African Coal Plant Wins U.S. Backing Over Environmentalist Protests | Black & Veatch Corp. won preliminary approval for $805.6 million in financing from the U.S. Export-Import Bank for a coal-fired power plant in South Africa, a move that drew criticism from environmental groups. The board of the Washington-based lender voted today on a loan to support construction of a 4,800-megawatt pl... |
2024-03-03 | Bloomberg | Berkshire May Enter India Reinsurance, Business Standard Says | Berkshire Hathaway Inc. (BRK/A) is in talks with an Indian general insurance company for a 26 percent stake as it looks to enter the reinsurance market in the country, Business Standard reported, citing an unidentified person familiar with the matter. Berkshire Hathaway Reinsurance unit "continues to review opportuniti... |
2024-05-09 | Bloomberg | Ethanol Futures Rise as Economic Outlook Sends Crude Above $102 | Ethanol futures advanced as crude oil rose above $102 a barrel on signals that the global economic recovery remains intact. The grain-based gasoline additive moved higher as crude futures climbed 5.5 percent after a report today showed German exports surged to a record in March and the U.S. Labor Department said last w... |
2024-07-21 | Bloomberg | Morgan Stanley Puts Off Brokerage Margin Goals, Blaming May 6 Market Crash | Morgan Stanley said it will miss profit-margin goals for its brokerage joint venture with Citigroup Inc.’s Smith Barney, blaming the May 6 market crash for scaring away investors. “Hitting those targets, given it’s a fairly formulaic business in many respects, will get pushed out because the performance is market-depe... |
2024-07-12 | Bloomberg | Four Chinese Investor Groups Trying to Acquire AIA, Morning Post Reports | At least four groups of Chinese investors are considering acquiring American International Group Inc.’s Asia insurance unit, AIA Group Ltd., the South China Morning Post reported, citing people in the banking industry familiar with the situation. One of the groups is led by Shan Weijian, chairman of the Pacific Allian... |
2024-11-24 | Bloomberg | European Stocks Erase Gains; Stoxx 600 Drops for Fourth Day as Banks Fall | European stocks erased their advance as banks and insurance companies retreated. The Stoxx Europe 600 Index slipped 0.1 percent to 263.35 at 8:35 a.m. in London, having earlier risen as much as 0.5 percent. To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net |
2024-07-07 | Bloomberg | Asian Bank Bonds May Climb as Stress of Tests Fades, Brokerages Predict | Bonds sold by Asian banks are a buy because wider spreads don’t reflect the underlying strength of the borrowers, and robust finances mean they’re more likely to gain as risk sentiment improves, according to Amias Berman & Co. and Morgan Stanley. “We see a window of opportunity in bank capital notes where spreads have... |
2024-08-27 | Bloomberg | M&T to Buy Hudson City in Deal Valued at $3.7 Billion | M&T Bank Corp. (MTB) agreed to buy Hudson City Bancorp for about $3.7 billion in the banking industry’s biggest takeover this year as it seeks to expand in New Jersey. Under terms of the agreement, each Hudson City shareholder will receive 0.08403 of an M&T share in the form of either M&T stock or cash, the companies s... |
2024-06-15 | Bloomberg | Carlyle Raises $1 Billion for South American Investments | The Carlyle Group , one of the world’s largest private-equity managers, said it raised $1 billion to invest in South American companies, with an emphasis on Brazil. The leveraged-buyout firm closed a $776 million fund that will target deals across the continent with a focus on Brazil, and a 360 million-Brazilian real (... |
2024-07-11 | Bloomberg | Insurers to Fund London Police Anti-Fraud Unit, Telegraph Says | The British insurance industry is funding a nine million-pound ($14 million) unit for police in London ’s financial district aimed at tackling insurance fraud, the Daily Telegraph reported, citing City of London Police Commissioner Adrian Leppard. |
2024-04-04 | Bloomberg | U.S. March Conference Board Employment Trends Index (Text) | Following is the text of U.S. employment trends index from the Conference Board. The Conference Board Employment Trends Index increased again in March, for the sixth month in a row. The index now stands at 100.9, up from February’s revised figure of 100.3. The index is up over 8 percent from a year ago. Says Gad Levano... |
2024-06-01 | Bloomberg | European Stocks Sink as Economic Data Trail Forecasts; Monte Paschi Drops | European stocks declined the most in a week after U.S. employment and manufacturing data trailed economists’ forecasts and China’s factory production expanded at the slowest pace in nine months. Banca Monte dei Paschi SpA sank the most in two years as the Italian lender’s controlling shareholder sold 450 million shares... |
2024-07-09 | Bloomberg | Point Blank, General Growth, Tronox: Bankruptcy | Point Blank Solutions Inc ., the bankrupt maker of protective body armor, said it will explore alternatives including a sale of the company while under court protection. The company is considering a sale as a way to “generate the highest value for all constituents,” Point Blank said in a statement issued yesterday alo... |
2024-12-30 | Bloomberg | Merkel Calls for German Patience as Euro Crisis ‘Far From Over’ | German Chancellor Angela Merkel said the economic environment will be more difficult in 2013 than this year, and that Europe ’s sovereign debt crisis is “far from over,” though progress has been made. “The reforms that we’ve agreed on are starting to take effect,” Merkel, who faces federal elections in September, said ... |
2024-10-01 | Bloomberg | Japan's 10-Year Bonds Complete Three-Week Gain on BOJ Speculation, Tankan | Japan’s 10-year government bonds gained for a third week on speculation Bank of Japan policy makers will introduce further easing measures to keep the nation’s economic recovery intact. Benchmark yields fell to a five-week low after the central bank’s Tankan survey showed the nation’s large manufacturers forecast pessi... |
2024-07-28 | Bloomberg | Insurers Win Policy Change on Children's Health-Care Coverage | Insurers led by UnitedHealth Group Inc. and WellPoint Inc. can limit when parents buy child-only policies under an Obama administration ruling that will keep consumers from buying coverage only after their kids fall ill. The advisory posted yesterday on the U.S. Department of Health and Human Services’ website allows ... |
2024-10-17 | Bloomberg | Reid’s Party Unity Outplays Boehner’s Divided Republicans | Days before the U.S. risked a debt default, Senate Majority Leader Harry Reid had the chance to pocket a deal. Instead, he went for the kill. Reid, a Nevada Democrat and a former competitive boxer, called Senator Joe Manchin on Oct. 13 and insisted the West Virginia Democrat deny reports of an agreement among a biparti... |
2024-04-01 | Bloomberg | Freddie Mac Warns Lenders on Insurance Agreements | (Corrects recipients of letter in the first paragraph.) Freddie Mac told lenders and servicers to halt a practice that may provide them cover for making flawed home loans. In a letter to the industry today, the government-owned mortgage company said lenders are violating its policies when they pay mortgage insurers in ... |
2024-03-07 | Bloomberg | Asian Stocks Fall 3rd Day on Greek Concern, Australia GDP | Asian stocks fell for a third day, with the regional benchmark index (CRY) headed for the lowest close in a month, amid concern about a Greece debt-swap deal and after reports showed European gross domestic product contracted and Australia ’s economy grew less than forecast. Sony Corp. (6758) , Japan ’s No. 1 exporter ... |
2024-11-12 | Bloomberg | AMR, US Airways Must Divest Slots in U.S. Settlement | American Airlines and US Airways Group Inc. reached an agreement with the U.S. Justice Department over the government’s bid to block their merger, clearing the way to a tie-up that would create the world’s biggest carrier. The airlines must give up 104 flight slots at Washington Ronald Reagan National Airport and 34 at... |
2024-06-12 | Bloomberg | Japan Passes Law Changes Dealing With Failed Financial Firms | Japan ’s parliament endorsed changes in legislation dealing with failed financial institutions as part of efforts by regulators worldwide to avoid a repeat of the global financial crisis. The passed amendments, proposed by the Financial Services Agency , allow brokerages and insurers to join banks in being eligible for... |
2024-03-13 | Bloomberg | UBS, Deutsche Bank Fight U.K. on Use of Offshore Trust for 2003 Bonus Plan | UBS AG (UBSN) and Deutsche Bank AG (DBK) said they don’t owe taxes over a 2003 compensation plan U.K. authorities argue was designed to avoid millions of pounds in taxes and national insurance contributions on employee bonuses. The two banks appealed separate rulings that found them liable for income and payroll taxes ... |
2024-08-05 | Bloomberg | Berkshire Avoids Rout as Buffett Sidesteps Bonds | Warren Buffett ’s preference for buying stocks and whole companies rather than bonds is helping Berkshire Hathaway Inc. (BRK/A) weather a spike in interest rates better than other insurers. Book value rose 2 percent to about $122,900 per Class A share in the three months ended June 30, Omaha, Nebraska-based Berkshire s... |
2024-04-26 | Bloomberg | Carry Trade Makes Comeback as Kiwi Drives High Yielder Gains | Currency carry traders who borrow in countries with low interest costs to fund purchases in markets with higher yields are seeing returns rebound from two- year lows as the Federal Reserve and Bank of Japan show no urgency to raise interest rates. Investing the proceeds of yen loans in New Zealand dollar- denominated a... |
2024-06-20 | Bloomberg | Don’t Blame the Candidates, Blame the News Media | “Excuse me, sir,” President Barack Obama said when a reporter from the Daily Caller website interrupted his news conference last week on immigration. “It’s not time for questions, sir. Not while I’m speaking.” As Matt Negrin of ABC News pointed out , in this White House, it’s rarely time for questions. Negrin cites res... |
2024-02-27 | Bloomberg | Canada 2013 Investment Intentions Report (Text) | The following is the text of Canada’s 2013 investment intentions report released by Statistics Canada. Public and private organizations and the housing sector report that their anticipated investment in construction and machinery and equipment will reach $398.2 billion in 2013, up 1.7% from 2012 in current dollars. Thi... |
2024-07-26 | Bloomberg | Drop the Disastrous Plan to Defund Obamacare | Conservatives on Capitol Hill think they have a chance to strike a mortal blow against President Barack Obama ’s health-care overhaul this fall. If their plan goes forward, however, it will backfire. The plan is to oppose any bill to fund the government or increase the debt limit that also provides money for putting th... |
2024-06-20 | Bloomberg | Cowdery's Resolution to Extract Cash From AXA Assets, Sunday Times Says | Clive Cowdery ’s Resolution Ltd. plans to extract 800 million pounds ($1.2 billion) from Axa SA assets that it’s buying, the Sunday Times said, without saying where it got the information. The excess capital has accumulated in life-insurance funds run by the company, the newspaper reported, citing analysts it didn’t i... |
2024-04-16 | Bloomberg | Enron’s Skilling Rejected by Top U.S. Court on Conviction | The U.S. Supreme Court left intact Jeffrey Skilling ’s conviction for leading the Enron Corp. accounting fraud, refusing to grant a second hearing to the imprisoned former chief executive officer. Today’s rebuff leaves Skilling with nothing to show for his victory at the Supreme Court in 2010, when the justices said pr... |
2024-04-16 | Bloomberg | Wachtell, WilmerHale, Cravath, Skadden: Business of Law | Wachtell, Lipton, Rosen & Katz and Wilmer Cutler Pickering Hale & Dorr LLP acted as legal advisers to Thermo Fisher Scientific Inc. (TMO) , the second-biggest maker of life-sciences equipment by market value, which agreed to buy Life Technologies (LIFE) Corp. for $13.6 billion in cash in a deal that expands its reach i... |
2024-10-12 | Bloomberg | India Factory Output Beats Estimates as Outlook Stays Cloudy | Indian industrial production rose more than estimated in August, climbing for the first time in three months ahead of a policy revamp to revive the economy. Output at factories, utilities and mines rose 2.7 percent from a year earlier after a revised 0.2 percent fall in July, the Central Statistical Office said in a st... |
2024-10-14 | Bloomberg | U.S. Stocks Retreat as Banks Tumble on Foreclosure Concerns | U.S. stocks declined, dragging benchmark indexes down from five-month highs, as financial companies slumped amid concern over growing legal scrutiny of home foreclosure practices. Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. slid more than 4 percent to lead financial stocks in the Standard & Poor’s 500 I... |
2024-10-05 | Bloomberg | UBS Woos Asia's Richest Amid `Incredible' Wealth Spurt | UBS AG , Switzerland’s largest bank, is putting more focus on its richest clients in Asia and bringing its investment bankers closer to asset managers to meet their demands. Wealth managed for clients with at least 50 million Swiss francs ($51 million) of assets will grow annually by about 10 percent to 20 percent in t... |
2024-11-08 | Bloomberg | BlackBerry’s Chen Gets Pay Package About $88 Million | John Chen , who will attempt to turn around BlackBerry Ltd. as its new executive chairman and interim chief executive officer, will get $3 million in salary and bonuses, as well as restricted stock valued at $85 million. Chen, named to the post on Nov. 4, will be eligible for $1 million in base salary and a performance... |
2024-04-14 | Bloomberg | Most U.S. Stocks Rise as House Approves Bill to Avert Shutdown | Most U.S. stocks advanced, erasing an early decline, as the House approved a spending bill that will avert a government shutdown and on investors’ optimism about higher-than-estimated corporate earnings. Supervalu Inc. (SVU) surged 17 percent for the top gain in the Standard & Poor’s 500 Index after the owner of Save-A... |
2024-06-12 | Bloomberg | New York Asks Insurers of Lapsed Borrowers for New Rates | New York State is demanding that insurers of lapsed home-loan borrowers submit new rate proposals after hearings last month showed firms charged too much for the coverage. “Our hearings suggest a lack of competition, high prices and low loss ratios, all of which hurt homeowners,” Department of Financial Services Superi... |
2024-12-22 | Bloomberg | Tokio Marine Paying a Premium for Delphi as Japanese Insurers Look Abroad | Tokio Marine Holdings Inc. (8766) agreed to pay a 71 percent premium in its $2.7 billion cash bid for the U.S.’s Delphi Financial Group Inc. as Japanese insurers face waning demand from an aging population at home. Japan ’s second-largest casualty insurer’s bid for the Wilmington, Delaware-based company that sells work... |
2024-02-04 | Bloomberg | Hong Kong Stocks Advance on U.S., Chinese Economic Data | Hong Kong stocks rose for the first time in three days as economic reports from the U.S. and China showed signs of recovery in the world’s two largest economies. A surge in trading of Ping An Insurance (Group) Co. shares lifted volume on the city’s benchmark index. Techtronic Industries Co. (669) , a powertool maker t... |
2024-09-24 | Bloomberg | South Africa's Ruling ANC Party Says It Will Consider Nationalizing Mines | South Africa’s ruling African National Congress gave its leadership two years to study the possible nationalization of mines and other key industries, after its youth wing and labor union allies forced the issue onto its policy agenda. The ANC Youth League argued at a five-day party conference in the eastern city of Du... |
2024-09-12 | Bloomberg | Josef Ackermann Will Resign From Siemens Supervisory Board | Josef Ackermann , who stepped down as chairman of Zurich Insurance Group AG (ZURN) after the suicide of the company’s chief financial officer last month, said he will resign from the supervisory board of Siemens AG. (SIE) Ackermann, 65, said he will keep other posts. He spoke to reporters at a presentation of a book a... |
2024-06-20 | Bloomberg | Hollande Calls for Euro Bills in Short Term, Handelsblatt Says | French President Francois Hollande favors the issuance of euro bills as a short-term measure and euro bonds in the medium term as a euro-area rescue strategy, Handelsblatt reported, citing a strategy paper it’s reviewed. Hollande also backs consolidating the national deposit insurance programs, the newspaper said. To c... |
2024-05-24 | Bloomberg | European Insurance Watchdog Wants More Powers and Industry Levy | The European Insurance and Occupational Pensions Authority, the European Union’s insurance watchdog, called for extending its powers to include directly banning and restricting financial activities to enhance its supervision. Eiopa, which is charged with drafting new solvency rules for European insurers, also wants to ... |
2024-08-24 | Bloomberg | WaMu Creditors, Shareholders Make Arguments on $7 Billion Bankruptcy Plan | Washington Mutual Inc. creditors and shareholders made final arguments for and against the company’s $7 billion reorganization plan, disagreeing over whether hedge funds committed insider trading during the almost three-year bankruptcy of the defunct bank holding company. Shareholders have asked U.S. Bankruptcy Judge M... |
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