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2024-02-19 | Bloomberg | HSBC to Sell Panama Unit to Bancolombia for $2.1 Billion | HSBC Holdings Plc , Europe’s largest bank by market value, agreed to sell its Panama unit to Bancolombia SA for $2.1 billion as Chief Executive Officer Stuart Gulliver tries to revive profit by targeting fewer markets. The cash price for Panama’s second-biggest bank is three times the unit’s net asset value of $700 mil... |
2024-07-14 | Bloomberg | Chile Inflation to Reach 10-Month High in July, Central Bank Survey Shows | Chile’s consumer prices may rise the most in 10 months on higher transport costs and taxes on loans, a survey of traders and investors showed. Prices may increase 0.6 percent this month from June, according to the median forecast of 38 money-market traders, pension and mutual fund managers and insurance companies in a... |
2024-12-18 | Bloomberg | Boehner Says House Republicans Want to Extend Payroll-Tax Cut for One Year | House Speaker John Boehner said he and fellow House Republicans oppose Senate legislation to extend through February a payroll tax cut and long-term unemployment benefits and will push to continue the measures through 2012. Congress should “stop, do our work and extend for one year,” Boehner said on NBC’s “Meet the Pre... |
2024-05-12 | Bloomberg | Ricardo Flores May Become Head of Brasilprev, Globo Reports | Ricardo Flores, the head of Banco do Brasil SA ’s employees’ pension fund Previ, may become chief executive officer of Brasilprev Seguros & Previdencia SA, O Globo newspaper reported , without saying how it obtained the information. Brasilprev, a pension and insurance unit of Banco do Brasil, said yesterday its preside... |
2024-07-31 | Bloomberg | U.S. Housing Recovery Tested as Economy Tempers Optimism | Rob Gray moved his family of four from Massachusetts to Texas, where he bought a new five-bedroom, five-bath, two-fireplace home built by Toll Brothers Inc. (TOL) After completing the deal on July 26 for the $572,000 brick-and-stone house in Allen, about 30 miles (48 kilometers) north of Dallas, Gray and his wife Paul... |
2024-09-03 | Bloomberg | Detroit Tunnel Operator Sheds $830 Million in Debt | American Roads LLC, operator of the mile-long Detroit Windsor Tunnel linking the U.S. to Canada , won court approval of a turnaround plan to shed $830 million in debt from swaps and bonds issued after a private-equity buyout. U.S. Bankruptcy Judge Burton R. Lifland confirmed the plan in Manhattan. The deal transfers ow... |
2024-05-08 | Bloomberg | China Merchants Bank Names Tian Party Secretary as Ma Retires | China Merchants Bank Co. (3968) party secretary Ma Weihua resigned after nearly 15 years in charge of the nation’s sixth-largest lender, as management changes in the financial industry follow a once-a-decade leadership transition. Tian Huiyu, former head of China Construction Bank Corp. (939) ’s Beijing branch, replace... |
2024-03-28 | Bloomberg | How to Make the Health-Care Market Work Better | How could government help the health-care market work better? Here’s an idea so obvious it’s shocking it hasn’t already been done: Let’s require large hospitals and medical providers who receive dollars from Medicare, Medicaid or federal research grants to collect and publish basic price data. For every conceivable med... |
2024-10-08 | Bloomberg | Biggest US Foreign Creditors Show Concern on Default Risk | China and Japan , which together hold more than $2.4 trillion in U.S. Treasuries, raised pressure on the U.S. to resolve a political impasse on its debt ceiling that threatens to destabilize global financial markets. Japan must consider the impact of any default on its bond holdings, even as the U.S. will probably avoi... |
2024-06-30 | Bloomberg | Walt Disney Among 62 U.S. Companies to Land Family-Firm Fireworks Waiver | Walt Disney Co. (DIS) is among 62 companies getting a break from U.S. limits on truck-driver work hours that’s intended to help communities put on Independence Day fireworks shows. The rule waiver allows Walt Disney Parks and Resorts U.S. Inc., based in Lake Buena Vista, Florida , and other operators of July 4 displays... |
2024-07-19 | Bloomberg | How to Contain the European Debt Crisis: Giavazzi and Kashyap | With Italy now paying the same rates as Spain to finance its debt, the European crisis has reached a critical stage. To prevent the possible demise of the single currency, the European Union now must come up with a credible plan to address the future of the euro area. Only a proposal that takes into account the followi... |
2024-05-16 | Bloomberg | Oil, Gold Slide as Dollar Gains on Greece; Stocks Retreat | Oil slid to a six-month low and gold declined as the Dollar Index extended a record-long rally amid concern Greece’s financial crisis is worsening. U.S. stocks fell, while Treasuries erased losses after Federal Reserve policy makers said more monetary easing may become necessary. Crude for June delivery fell 1.2 percen... |
2024-10-20 | Bloomberg | HealthMarkets Sued by Los Angeles for Defrauding Customers | HealthMarkets Inc., a health insurance agency controlled by Goldman Sachs Group Inc. and Blackstone Group LP, was accused of defrauding customers in a lawsuit brought by Los Angeles. To contact the reporter on this story: Edvard Pettersson in Los Angeles at epettersson@bloomberg.net To contact the editor responsible ... |
2024-05-23 | Bloomberg | Prosecutors Faulted on Failure to Charge ‘Bandits’ in U.S. Market Collapse | In November 2009, Attorney General Eric Holder vowed before television cameras to prosecute those responsible for the market collapse a year earlier, saying the U.S. would be “relentless” in pursuing corporate criminals. In the 18 months since, no senior Wall Street executive has been criminally charged, and some lawma... |
2024-12-30 | Bloomberg | Dongbu, Korea Non-Life Insurers Jump on Moves to Cut Car Protection Losses | Dongbu Insurance Co. led South Korean non-life insurers higher in Seoul trading after the government announced measures to help stem losses at their auto insurance businesses. Dongbu Insurance jumped 6.8 percent to 45,000 won at the close on the Korea Exchange, the highest since Jan. 21, 2008, while the benchmark Kospi... |
2024-10-12 | Bloomberg | Senate Stops Long Debt-Cap Raise as Republicans Mull Move | The Senate blocked a Democratic plan to push the next fight over raising the debt limit until 2015 as lawmakers struggled to find a path to prevent a U.S. default and end the 12-day government shutdown. The 53-45 vote fell short of the 60 votes needed to advance the measure as Republicans rejected Senate Majority Leade... |
2024-04-27 | Bloomberg | Crude Oil May `Muck Around' Before Shooting for $88: Technical Analysis | Crude oil is set to reach $88 a barrel, its highest level for this year, because price dips have failed to snap the market’s uptrend, according to National Australia Bank Ltd. Oil, poised for a third monthly gain in April, will continue to rise as long as prices don’t settle below $77.10 a barrel on a daily basis, sai... |
2024-02-27 | Bloomberg | Viking Undies Model; God-Awful ‘Bible’; Dim ‘Widow’L: TV | Not every hero could slaughter all the monks in a monastery and sail home with his swagger intact. But so it goes on “ Vikings ,” History channel’s latest bid for some of TV’s “ Spartacus ” mojo. Different gods, cooler haircuts and (this being basic cable) significantly fewer unsheathed body parts than Starz’s pay-chan... |
2024-04-04 | Bloomberg | Fed’s Lacker Says Volcker Rule May Be ‘Impossible’ to Implement | Federal Reserve Bank of Richmond President Jeffrey Lacker said a U.S. law restricting proprietary trading at banks and scheduled for enactment in July may be “impossible” to implement. The so-called Volcker rule, named for its original champion, former Fed Chairman Paul Volcker , is aimed at reducing the odds that bank... |
2024-02-27 | Bloomberg | UBS Macro Strategies Team to Start Hedge Fund as Banks Exit Prop Trading | UBS AG (UBSN) ’s only team of traders with a global mandate to make bets on macroeconomic trends is leaving the bank to form a hedge fund, said Gerard Satur, the head of macro strategic trading who will lead the fund. The Sydney-based firm, MST Capital, is in talks with cornerstone investors, said Satur, who remains a ... |
2024-04-12 | Bloomberg | AB InBev, Delta Lloyd, Retail Estates: Benelux Equity Preview | The following companies may have unusual price changes in Benelux markets. Stock symbols are in parentheses, and prices are from the previous close. The AEX-Index (AEX) in Amsterdam retreated 0.54, or 0.2 percent, to 366.40. Belgium’s Bel20 Index lost less than 0.1 percent to 2,721.23. Luxembourg’s LuxX Index fell 0.9 ... |
2024-04-03 | Bloomberg | N.Z. Budget Deficit Wider Than Forecast as Tax Revenue Slows | New Zealand ’s budget deficit was NZ$395 million ($323 million) wider than forecast in the eight months through February as tax revenue slowed and earthquake costs increased, according to a Treasury Department report. The government’s operating deficit before gains and losses on investments was NZ$5.53 billion in the e... |
2024-10-02 | Bloomberg | U.S. Government Shutdown Threatening Housing Recovery | A U.S. government shutdown will immediately slow approval of thousands of mortgages. If it lasts more than a week, it threatens housing and the broader economic recovery. Congress forced the first partial government closure in 17 years after failing to pass a budget, meaning borrowers in the process of obtaining home l... |
2024-04-08 | Bloomberg | China Money Rate Climbs on Speculation Borrowing Costs to Rise | China ’s benchmark money-market rate rose the most this month on speculation policy makers will boost interest rates further to help damp inflation. The People’s Bank of China increased the benchmark one-year lending rate to 6.31 percent on April 6. The government will report on April 15 the consumer price index rose 5... |
2024-11-29 | Bloomberg | New Zealand Mine Blast Inquiry May Determine Future for Industry, Key Says | New Zealand Prime Minister John Key will today propose a Royal Commission into the causes of deadly explosions at the Pike River Coal Co. mine, a probe that may determine the future of underground mining in the country. “The future of Pike River and actually underground coal mining in New Zealand rests on this,” Key to... |
2024-07-29 | Bloomberg | Ex-Penn State Officials to Be in Hearing in Sandusky Case | Ex-Pennsylvania State University President Graham Spanier and two other former officials will be in a court hearing today on whether they must stand trial for hiding information tied to the Jerry Sandusky sexual-abuse scandal. Spanier, former Athletic Director Timothy Curley and former Vice President Gary Schultz are a... |
2024-04-28 | Bloomberg | ICBC Profit Rises More-Than-Expected 29% on Banking Fees | Industrial & Commercial Bank of China (601398) Ltd., the world’s most profitable lender, said first- quarter earnings rose 29 percent as the country’s economic growth spurred lending and fee income. Net income climbed to 53.8 billion yuan ($8.3 billion), or 0.15 yuan a share, from 41.5 billion yuan, or 0.12 yuan, a yea... |
2024-08-29 | Bloomberg | Rubber Gains on Supply Concern, Optimism on Recovery | (Corrects price move in second paragraph.) Rubber advanced on concerns that heavy rains in Thailand , the largest producer, may lower production and after fears the U.S. economy will stall were allayed, boosting optimism the global recovery is intact. January-delivery rubber rose as much as 1 percent to 362.60 yen per ... |
2024-01-21 | Bloomberg | Resolution Names Williamson to Replace Biggs as Chairman | Resolution Ltd. (RSL) , the insurance buyout firm founded by Clive Cowdery , said former Standard Chartered Plc Chief Executive Officer Malcolm Williamson will replace Mike Biggs as chairman later this year. Williamson, 73, will lead the firm once it has simplified its governance structure and unified the boards of hol... |
2024-04-27 | Bloomberg | Allianz Holds Exclusive Talks With Groupama on Unit Deal | Allianz SE (ALV) , Germany ’s biggest insurer, entered exclusive negotiations with France’s Groupama SA to buy the brokerage activities of its industrial insurance unit. The potential acquisition would exclude Gan Eurocourtage’s transport business, Allianz and Paris-based Groupama said in a three-line joint e-mailed st... |
2024-06-01 | Bloomberg | JPMorgan’s Iksil Said to Take Big Risks Long Before Loss | JPMorgan Chase & Co. (JPM) trader Bruno Iksil, known as the London Whale because his bets this year were so large, has been a leviathan of a risk-taker since at least 2010, a person with knowledge of the matter said. Iksil’s value-at-risk, a measure of how much a trader might lose in one day, was typically $30 million ... |
2024-04-14 | Bloomberg | U.S. Foreclosure Settlement Muddies Outlook for Mortgage Relief | The foreclosure-abuse settlements announced yesterday by federal regulators may make it harder for state attorneys general and the Obama administration to force banks to reduce loan balances for more troubled U.S. homeowners. The 14 largest U.S. mortgage servicers, including JPMorgan Chase & Co. (JPM) and Wells Fargo &... |
2024-08-09 | Bloomberg | Bonds Rally as RBI Seen Pausing With Sensex at 14-Month Low: India Credit | India ’s bonds are rallying as the loss of America’s top credit rating sends domestic stocks into a bear market and prompts investors to tear up forecasts for an interest-rate increase as soon as next month. Benchmark rupee-denominated 10-year notes in Asia ’s third- biggest economy rose for a sixth day today, the long... |
2024-01-16 | Bloomberg | Genworth Credit Swaps Plunge on Plan to Separate Mortgage Unit | The cost of protecting Genworth Financial Inc. (GNW) ’s debt from losses plunged after the insurer said it’s reorganizing to distance the mortgage guaranty unit from the rest of the company. Five-year credit-default swaps on the Richmond, Virginia- based company’s debt dropped 87.5 basis points to 261 basis points as o... |
2024-02-05 | Bloomberg | Bank of America Promotes Laughlin to Clean Up Soured Mortgages | Bank of America Corp. Chief Executive Officer Brian T. Moynihan promoted a former FleetBoston Financial Inc. colleague to clean up soured mortgages that fueled losses at the biggest U.S. lender by assets. Terry Laughlin, 56, will lead the new Legacy Asset Servicing unit for modifying delinquent mortgages, handling fore... |
2024-05-15 | Bloomberg | Aussie Disconnecting With Economy in 5% Plunge: Market Reversal | Australia ’s growing economy will put a floor under the nation’s currency, sparking a rebound from its steepest decline in a year, trading patterns suggest. The Australian dollar’s 4.6 percent slide this month cut its 14-day relative strength index to 25, breaching the 30 threshold that signals a currency has fallen to... |
2024-11-06 | Bloomberg | Vitter’s Demands Hold Up Compounding-Pharmacy Bill | One lawmaker’s effort to alter Obamacare is holding up final action by Congress on legislation that would expand U.S. regulation of compounding pharmacies linked to meningitis deaths last year. The Senate is poised to approve the measure to broaden the U.S. Food and Drug Administration’s oversight of compounding pharma... |
2024-04-28 | Bloomberg | Brown-Vitter Rearranges Financial-Reform Battlefield | A year ago, the big U.S. banks were focused on repealing, or at least eliminating large parts of, the Dodd-Frank financial-reform law. They poured money into the campaign of the Republican presidential nominee, Mitt Romney , and gave generously to opponents of the pro-reform Senate candidates Sherrod Brown and Elizabet... |
2024-06-08 | Bloomberg | Japan Stocks Fall on Bernanke Remarks, Future Settlement | Japan’s Nikkei 225 Stock Average (TPX) fell the most in three weeks after Federal Reserve Chairman Ben S. Bernanke declined to specify options for further easing. Shares extended their drop after the settlement for Nikkei futures on speculation the market will keep falling, and as the yen rose. Mazda Motor Corp. (7261)... |
2024-08-14 | Bloomberg | BlackBerry Said to Have Sought Buyers Since 2012 | BlackBerry Ltd. (BBRY) ’s announcement that it will consider takeover bids followed almost a year of advisers unsuccessfully canvassing potential buyers in search of a deal, two people with knowledge of the matter said. In recent months, as BlackBerry sales and subscriber numbers deteriorated, bankers from JPMorgan Cha... |
2024-11-30 | Bloomberg | Lending Probe May Lift Borrowing Costs as Record Year Sours: India Credit | India’s real-estate developers may face rising borrowing costs and shrinking access to credit, as record corporate lending slows amid a bribery probe that led to the arrests of eight executives. The combination of the regulatory review and tighter central bank provisioning rules may cause rates on loans for developers ... |
2024-02-28 | Bloomberg | Risk Council Led by Lew Hears SEC Update on Money Fund Rules | The Financial Stability Oversight Council, led by new Treasury Secretary Jacob J. Lew, met today in Washington and heard an update from the Securities and Exchange Commission on possible changes to rules governing money-market mutual funds. Lew, who was sworn into office at the White House earlier today, also presided ... |
2024-06-26 | Bloomberg | HSBC, Citigroup Win Approval to Sell Mutual Funds in China | HSBC Holdings Plc (5) , Europe’s biggest bank, and Citigroup Inc. (C) won approval from China ’s securities regulator to sell domestic mutual funds, expanding their scope of financial services in the local market. HSBC Bank (China) Co. received permission from the China Securities Regulatory Commission today and will i... |
2024-08-19 | Bloomberg | Corn Climbs in Chicago on Falling Stockpiles; Wheat, Soybeans Also Advance | Corn climbed for the first time in three sessions as falling stockpiles revived speculation that supplies aren’t enough to meet demand. Wheat and soybeans rose. Global corn stockpiles may fall 6.8 percent in the 2011-12 marketing year to 114.5 million metric tons, the U.S. Department of Agriculture said in a report on ... |
2024-02-28 | Bloomberg | New Zealand Quake Damages May Cost as Much as $15.1 Billion | Repairs to the southern New Zealand city of Christchurch after two earthquakes within the past six months may cost as much as NZ$20 billion ($15.1 billion), Prime Minister John Key said. Last week’s temblor could cost as much as NZ$15 billion -- the higher end of a preliminary range provided by the Treasury Department ... |
2024-04-11 | Bloomberg | Regulators Lack Power to Unwind Too-Big-to-Fail Banks, FSB Says | Global regulators said they still lack the power to impose losses on creditors and wind down too- big-fail-lenders without resorting to public bailouts almost five years after the 2008 financial crisis. The Financial Stability Board said in a report today that “few jurisdictions have equipped administrative authorities... |
2024-06-16 | Bloomberg | Capital One Said to Near $9 Billion Deal for ING Direct USA | Capital One Financial Corp. (COF) , this year’s top performer in the KBW Bank Index, is nearing a deal to buy ING Groep NV (INGA) ’s U.S. online bank for about $9 billion in cash and stock, said people with knowledge of the matter. The companies may reach an agreement for ING Direct USA as soon as today, said the peopl... |
2024-01-09 | Bloomberg | Hong Kong Stocks Fall for Second Day; China Mobile, HSBC Drop | Hong Kong stocks fell on concern a three-month rally in China-related shares, which lifted the Hang Seng Index to a record, more than reflected earnings prospects. China Mobile Ltd. declined. ``A correction is expected in the near term, given that in the last couple of months we've seen a very sharp up-tick in the mar... |
2024-08-06 | Bloomberg | Kenya Re Jumps to Three-Week High on Shariah Plan: Nairobi Mover | Kenya Reinsurance Corp. (KNRE) , a state- owned reinsurer, jumped to its highest level in more than three weeks after saying it introduced a Shariah-compliance team to evaluate new products and investments. Kenya Re, as the company is known, climbed 2 percent to 10.45 shillings by the close in Nairobi, the strongest pr... |
2024-05-15 | Bloomberg | Swan Shuns Europe-Style Austerity in Bet on Aussie Jobs: Economy | Australian Treasurer Wayne Swan will eschew European-style austerity as a stronger currency slows growth, wagering the government can win a Sept. 14 election fought on jobs and absorb the pain of a broken surplus promise. The underlying cash deficit will be A$18 billion ($17.8 billion) in the 12 months to June 30, 2014... |
2024-01-18 | Bloomberg | JPMorgan Asks If Tech Progress Ending for U.S.: Cutting Research | The pace of technological advance may be slowing in the U.S., threatening the economy’s ability to grow without sparking inflation. That’s according to JPMorgan Chase & Co. (JPM) chief U.S. economist Michael Feroli. He noted in a Jan. 11 report that the price of information-processing and software equipment is declinin... |
2024-03-20 | Bloomberg | Insurers at Risk in Challenge to Health Law’s Medicaid Plan | A Supreme Court decision striking down the U.S. health-care law’s expansion of Medicaid might expose environmental and educational laws to legal challenges while hurting stocks that surged anticipating more than $600 billion in new spending over the next decade. In the case against President Barack Obama’s health-syste... |
2024-02-08 | Bloomberg | S&P as Sole U.S. Target Has Wall Street Asking About Moody’s | The Justice Department decision to sue Standard & Poor’s has investors asking why Moody’s Investors Service and Fitch Ratings weren’t targeted for awarding the same top grades to troubled mortgage bonds and other debt securities. “What purpose does it serve for the U.S. government to bring an action against S&P at this... |
2024-09-24 | Bloomberg | Brandt Snedeker Wins Tour Championship and FedEx Cup Golf Bonus | Brandt Snedeker won golf’s FedEx Cup and its $10 million bonus after capturing the season-ending Tour Championship yesterday as Rory McIlroy and Tiger Woods failed to challenge for either title. It’s Snedeker’s fourth career victory on the U.S. PGA Tour and second this year following his win at January’s Farmers Insura... |
2024-07-17 | Bloomberg | StanCorp Plunges as Insurer Misses Estimates | StanCorp Financial Group Inc. (SFG) , the seller of disability insurance, tumbled the most in 11 months as second-quarter profit missed estimates and the company said it expects to fall short of its full-year earnings forecast. The insurer dropped 11 percent to $33 at 4 p.m. in New York trading, the biggest decline sin... |
2024-04-24 | Bloomberg | Euro-Yen Rate Shows Draghi Lament as Gross Says Sell: Currencies | The euro’s 25 percent jump against the yen over the past six months underscores the rising pressure on European Central Bank President Mario Draghi to cut interest rates as the region’s exporters lose out to Japan. Futures traders are adding to bets that the ECB will lower its benchmark rate in the months ahead to weak... |
2024-07-14 | Bloomberg | U.S. Stocks Fall as Bernanke Damps Speculation on More Stimulus | U.S. stocks fell, driving the Standard & Poor’s 500 Index to the lowest level of the month, as Federal Reserve Chairman Ben S. Bernanke said he’s not prepared to take immediate action to stimulate the economy. Raw-material producers, technology and industrial companies lost the most among the 10 main industries in the ... |
2024-03-03 | Bloomberg | Copper Futures Advance to Two-Week High as Energy, Economic Concerns Ease | Copper rose to a two-week high as concerns eased that metal demand will dwindle amid a decline in energy costs and more signs of a U.S. economic recovery. Crude-oil futures dropped as the Arab League weighed a proposal from Venezuela’s Hugo Chavez to mediate the conflict in Libya. Initial jobless claims unexpectedly de... |
2024-04-24 | Bloomberg | The Misguided Prosecution of John Edwards | April 25 (Bloomberg) -- Too many louts get away with being one. So it was intensely satisfying to learn that the U.S. government, in the form of the Justice Department , was focusing its considerable might on John Edwards. The former senator, vice presidential and presidential candidate would be exposed in a court of l... |
2024-03-07 | Bloomberg | Most Insurers Lack Plans for Climate Change, Survey Finds | Almost 90 percent of insurance companies lack a comprehensive plan to address climate change and fewer than half of them view it as a likely source of financial losses, according to a report released today. Only 23 of 184 insurers surveyed demonstrated a “comprehensive climate change strategy” and 88 said they consider... |
2024-06-25 | Bloomberg | U.S. Insurance Negotiator Sought by Ace Has Role Scaled Back by Congress | Lawmakers scaled back the role of the new federal insurance regulator sought by non-U.S. carriers such as Swiss Reinsurance Co. , Ace Ltd. and Lloyd’s of London. Congressional leaders crafting the financial regulatory bill placed limits on the new U.S. Treasury Department insurance office, which can negotiate internat... |
2024-09-19 | Bloomberg | Cleveland Clinic Trims Budget to Corral Costs Before Obamacare | The Cleveland Clinic , one of the world’s foremost medical and research centers, is cutting costs and trimming its $6 billion annual budget as patients and providers grapple with health care changes in the U.S. The clinic plans to shave 5.5 percent from its yearly spending by tightening operations budgets for things li... |
2024-06-29 | Bloomberg | Big Banks to Reveal Summaries of Living Wills July 3, FDIC Says | Summaries of company-written plans for unwinding the nine largest systemically important banks operating in the U.S. will be made available to the public July 3, Federal Deposit Insurance Corp. officials said today. JPMorgan Chase & Co. (JPM) , Bank of America Corp. , Citigroup Inc. (C) , Goldman Sachs Group Inc. (GS) ... |
2024-10-16 | Bloomberg | MoFo & Skadden on Softbank, Akin Gump: Business of Law | Morrison & Foerster LLP represents Softbank Corp. (9984) , which agreed to buy a stake of about 70 percent in Sprint Nextel Corp. (S) for $20.1 billion as Japan’s third- biggest mobile-phone operator seeks growth overseas amid a declining local market. Skadden Arps Slate Meagher & Flom LLP served as lead counsel to Spr... |
2024-06-26 | Bloomberg | China Rate Swap Drops for 4th Day as PBOC Eases Squeeze | The cost of locking in China ’s interest rates slid for a fourth day, the longest run of declines since February, and money-market rates fell after the central bank pledged to ease the worst cash crunch in a decade. The People’s Bank of China has provided financing to some financial institutions to stabilize interbank ... |
2024-08-05 | Bloomberg | Fifteen Face Trial Over Greek Structured Bond Deal, ANA Says | A Greek court decided as many as 15 people should stand trial on fraud charges related to a 280 million-euro ($397 million) structured bond transaction, Athens News Agency reported. The case relates to the sale of a structured bond to Greek social insurance funds at inflated prices, ANA said, without citing anyone. A d... |
2024-05-08 | Bloomberg | Billionaire Kaiser Exploiting Charity Loophole With Boats | (Corrects description of loan between BOK Financial and the foundation in the 34th paragraph.) When Oklahoma energy billionaire George Kaiser opened the Northeast Gateway liquid natural gas terminal in 2008, the floating depot’s first delivery was shipped on the Excellence, a 909-foot supertanker that holds 138,000 cub... |
2024-10-05 | Bloomberg | FDIC Board to Consider Volcker Rule at Oct. 11 Meeting | The Federal Deposit Insurance Corp. board is scheduled to consider a notice of proposed rulemaking on the Volcker rule to restrict proprietary trading by banks at a meeting next week. Discussion of the interagency rule, part of the FDIC’s rulemaking under the Dodd-Frank Act, was included in the agenda for the Oct. 11 m... |
2024-11-30 | Bloomberg | Japan Factory Output Unexpectedly Rises on New IPhone | Japan ’s factory output unexpectedly rose the most since December on production of parts for devices including Apple Inc. (AAPL) ’s iPhone, providing a bright spot in an economy poised to shrink for a second straight quarter. Industrial production in October increased 1.8 percent from the previous month, when it droppe... |
2024-04-01 | Bloomberg | DAX Index Climbs, Posts Weekly Gain; Deutsche Bank, Lanxess Rise | German stocks rose, with the benchmark DAX Index (DAX) posting a second weekly advance, after a report showed the U.S. added more jobs than forecast in March and the unemployment rate unexpectedly fell to a two-year low. Munich Re and Deutsche Bank AG (DBK) followed a rally in financial shares across Europe. Symrise AG... |
2024-11-15 | Bloomberg | Obama Tells Insurers Consumers Must Understand Options Under Law | President Barack Obama told executives with insurers including Cigna Corp., Humana Inc. (HUM) and Blue Cross Blue Shield that he wants to work with them to make sure consumers understand their choices amid a rocky start for his health-care law. “What we’re going to be doing is brainstorming on how do we make sure that ... |
2024-11-01 | Bloomberg | Direct Line Shares Climb as Investments Boost Profit | Direct Line Insurance Group Plc (DLG) rose to a two-month high in London trading after the U.K.’s biggest home and motor insurer increased third-quarter profit as a higher investment return offset a drop in premiums. Operating profit rose 6.1 percent to 131.2 million pounds ($209.9 million) in the three months to Sept.... |
2024-09-17 | Bloomberg | Costa Concordia Raised Off Rocks After 19-Hour Salvage Operation | The wrecked Costa Concordia cruise ship was successfully righted today after an unprecedented 19-hour operation off the Italian island of Giglio, where the cruise liner has been lying on its side since it capsized 20 months ago, killing 32 passengers. The operation, known as parbuckling or vertical rotation “is conclud... |
2024-06-29 | Bloomberg | Democrats May Cut $19 Billion Bank Fee From Bill | U.S. lawmakers reconvened the House- Senate conference on the financial-overhaul bill to eliminate a $19 billion bank fee that drew objections from Republicans. Democrats inserted the fee near the end of last week’s marathon 20-hour negotiating session, which ended when the conference committee approved legislation an... |
2024-01-18 | Bloomberg | Morgan Stanley Shares Climb as Brokerage Profit Doubles | Morgan Stanley, owner of the world’s biggest brokerage, rose the most in seven months after earnings from that business more than doubled and the firm reached profit-margin targets six months ahead of schedule. Morgan Stanley surged 7.9 percent to $22.38 at 4:15 p.m. in New York, the biggest gain since June 6. The shar... |
2024-07-13 | Bloomberg | Lower Federal Crop-Protection Subsidies May Imperil Insurers, Group Says | The crop-insurance industry will be forced to consolidate by a U.S. government plan to spend $6 billion less on subsidizing farmer policies, according to the president of the insurers trade group. All 16 companies that provide government-subsidized policies to protect farmers from natural disasters, including Wells Fa... |
2024-01-19 | Bloomberg | Swiss Stocks Advance for a Fourth Day; UBS, Credit Suisse, Swiss Re Gain | Swiss stocks climbed for a fourth day, sending the country’s benchmark equity measure to its highest level in more than six months, as funding costs for France and Spain fell at auctions of the countries’ bonds. UBS AG and Credit Suisse Group AG (CSGN) both advanced more than 6 percent. Swiss Re Ltd., the world’s secon... |
2024-05-25 | Bloomberg | Tornadoes, Thunderstorms Slam Into U.S. Plains, Killing 13 in Three States | Violent thunderstorms with hail and tornadoes swept across the Plains, killing more than a dozen people, 48 hours after the deadliest U.S. twister on record leveled homes and businesses in Joplin, Missouri. At least 13 tornadoes were reported in Kansas , Texas, Oklahoma , Colorado and Virginia yesterday, according to t... |
2024-12-08 | Bloomberg | Arizona Sanctions for Illegal-Alien Hiring Supported at High Court Hearing | U.S. Supreme Court justices signaled they are inclined to uphold an Arizona law that threatens companies with the revocation of their corporate charters if they hire illegal aliens. Chief Justice John Roberts and Justice Antonin Scalia took the lead in aiming a barrage of questions at a lawyer challenging the measure i... |
2024-03-17 | Bloomberg | Religious Exemption for Birth Control Coverage Detailed by U.S. | U.S. regulators proposed rules laying out how workers at self-insured religious-affiliated institutions can receive health coverage for contraception if their employer has a religious objection to paying for it. The regulations released yesterday include a suggestion that companies handling administrative tasks for the... |
2024-03-30 | Bloomberg | Hedge Funds Register, FSA Anti-Bribery, CFPB: Compliance | The U.S. Securities and Exchange Commission will oversee hundreds more private advisers at hedge funds and private equity firms than it first predicted, expanding the reach of one of the most controversial requirements of the Dodd-Frank Act. The managers of such investment funds face a deadline today to register with t... |
2024-07-26 | Bloomberg | Insurance Australia Group Says Its Full-Year Insurance Margin Meets Target | Insurannce Australia Group Ltd. reported a full-year insurance margin of 7 percent and expects to pay a second-half dividend of 4.5 Australian cents a share, according to a regulatory filing. To contact the reporter on this story: Tim Smith in Sydney at tsmith58@bloomberg.net |
2024-09-09 | Bloomberg | Sun Hung Kai Financial in Erroneous Buy Order for China Life | Sun Hung Kai Financial said it was behind an erroneous buy order for shares of China Life Insurance Co. in Hong Kong yesterday, and has “identified and rectified” the problem. The Sun Hung Kai & Co. unit “experienced an isolated system glitch” at about 3:25 p.m. local time on Sept. 8, resulting in the error, according ... |
2024-02-25 | Bloomberg | Yuan Steady as Flash PMI Hints at Slower Manufacturing Expansion | The yuan was little changed, after a run of four weekly declines, as a report suggested Chinese manufacturing growth is slowing this month. A preliminary reading for the Purchasing Managers Index published by HSBC Holdings Plc and Markit Economics was 50.4, data showed today. That compares with the 52.3 final reading f... |
2024-07-22 | Bloomberg | Stocks, Commodities Gain on Earnings, Economy; Dollar Weakens | Stocks and commodities rallied on improving profit forecasts at companies from United Parcel Service Inc. to AT&T Inc. and accelerating growth in European manufacturing and services industries. The euro strengthened, Treasuries retreated and oil reached an 11-week high. The Standard & Poor’s 500 Index jumped 2.3 perce... |
2024-10-13 | Bloomberg | Congress Approves Biggest U.S. Trade Agreement Since 1994 | The U.S. Congress cleared free-trade agreements with South Korea, Colombia and Panama, bringing an end to years of stalemate and offering what supporters said was the biggest opportunity for exporters in decades. The bills go to President Barack Obama , who spent two years seeking to broaden Democratic support for pact... |
2024-03-20 | Bloomberg | Portuguese Insurers to Buy More Corporate Bonds as Crisis Eases | Portuguese insurers may invest more in the corporate debt market after the crisis in Europe subsided and yields on sovereign bonds declined, an industry group said. “If there’s stability in Europe, it’s natural that the drop in sovereign debt yields will lead to a higher tendency to invest in corporate bonds,” Pedro Se... |
2024-01-31 | Bloomberg | Louis-Dreyfus Widow Chairman Ousts Men Running Commodities Giant | When Margarita Louis-Dreyfus took her 13-year-old twins on a weeklong trip to Brazil for school break in October 2010, it wasn’t a beach-filled vacation. She and the boys donned coveralls and hard hats. Then they toured the ports, plantations and juice factories of their namesake company, Louis Dreyfus Holding BV, in a... |
2024-05-14 | Bloomberg | Emerging-Market Stocks Advance as Turkey Jumps to Record | Emerging stocks rose for the first time in four days, led by consumer companies. The Borsa Istanbul National 100 index climbed to a record, while Chinese shares declined the most in three weeks on property concerns. Turkey ’s Akfen Holding AS (AKFEN) jumped as its airport construction unit won a $400 million project ab... |
2024-06-03 | Bloomberg | Watsa’s Fairfax to Acquire American Safety for $306 Milli | Fairfax Financial Holdings Ltd., the Canadian insurer led by Prem Watsa , agreed to buy American Safety Insurance Holdings Ltd. (ASI) for $306 million in an all-cash deal. American Safety shareholders will receive $29.25 per share, a 22 percent premium to the Bermuda-based insurer’s May 31 closing price, Toronto-based ... |
2024-06-01 | Bloomberg | People’s Bank Still Owes an Accounting to Its Shareholders: View | Imagine that a friend with infinite resources gives you unlimited access to his bank account in exchange for a symbolic amount of interest, say 0.01 percent. Then imagine that you can do as you please with the money, including lend it back to your deep-pocketed friend at a much higher rate of interest and keep the diff... |
2024-04-03 | Bloomberg | Royal Bank of Canada to Buy Dexia Stake for C$1.1 Billion | Royal Bank of Canada , the country’s largest bank, agreed to buy the 50 percent of RBC Dexia Investor Services Ltd. it doesn’t already own from Banque Internationale a Luxembourg SA for about C$1.1 billion ($1.1 billion) in cash. Royal Bank must revalue its investment to reflect the purchase price, resulting in a non-c... |
2024-03-11 | Bloomberg | Santorum: Romney Would Force GOP to Forfeit Health Care | Republican presidential candidate Rick Santorum said the nomination of rival Mitt Romney would force the party to forfeit its most potent issue in a general election campaign against Democratic President Barack Obama : Obama’s health care law. Santorum, who trails Romney in the delegate count for the Republican nominat... |
2024-07-07 | Bloomberg | Hedge Funds Move Past Greece With Bets That Sovereign Debt Crisis Expands | Hedge funds that trade bonds and loans are increasing bets that Europe’s sovereign-debt crisis will spread to Portugal, Spain and Italy, even after Greece won a temporary reprieve with 12 billion euros in aid. “Nothing you’ve seen so far has dealt with solvency, just liquidity,” said Simon Finch, head of credit trading... |
2024-11-24 | Bloomberg | Japan's 10-Year Bond Yields May Decline Back Below 1%: Technical Analysis | Japan’s 10-year government bonds will rally, pushing yields to the lowest in almost two weeks, as losses in securities over the past month were too rapid, according to Mitsui Sumitomo Insurance Co. Benchmark yields may fall back below 1 percent after reaching a two-month high this week, said Tokuyoshi Takano , a financ... |
2024-11-27 | Bloomberg | Oil Falls on Supply Forecast Amid Budget Talks | Oil fell for a second day as U.S. crude inventories were forecast to increase and as Senate Majority Leader Harry Reid said budget talks in Washington have made little progress. Prices dropped 0.6 percent as oil supplies probably grew by 350,000 barrels last week, according to analysts surveyed by Bloomberg before an E... |
2024-06-26 | Bloomberg | Italian, Spanish Notes Slide on Debt Sales | Italian notes had the biggest two- day drop in seven months, and Spanish securities slid, after borrowing costs rose at debt sales. Spain’s bonds led losses in the euro area after Moody’s Investors Service downgraded 28 Spanish banks and Bundesbank President Jens Weidmann said there can be no pooling of issuance in Eur... |
2024-04-01 | Bloomberg | General’s Bribe Bombshell Adds to India Leadership Disarray | His striped cravat tucked inside a heavily decorated uniform, India ’s army chief last week sent tremors through one of the few government ministries to have escaped 17 months of scandal and intrigue. A day after the general said he’d been offered a bribe to approve a contract, Defense Minister A.K. Antony told parliam... |
2024-04-08 | Bloomberg | Kill the 30-Year Mortgage | After a devastating cycle of bubble and bust, the U.S. housing sector is on the road to recovery. New homes are being built at the fastest rate in years and prices are increasing across the country. Foreclosures are down and the number of “ underwater ” mortgages has declined by almost 12 percent since the peak at the ... |
2024-12-20 | Bloomberg | Initial Jobless Claims in U.S. Rose Last Week to 361,000 | The number of Americans filing first-time claims for unemployment insurance payments rose for the first time in five weeks, a sign further improvement in the labor market depends on faster economic growth. Applications for jobless benefits increased by 17,000 to 361,000 in the week ended Dec. 15, Labor Department figur... |
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