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2024-09-15 | Bloomberg | SEC’s Schapiro Faces Republicans Amid Probes of Agency Lapses | U.S. Securities and Exchange Commission Chairman Mary Schapiro has defended her agency for more than two years from attacks by lawmakers. Her job is getting harder as the 2012 election campaign heats up. Schapiro is scheduled to testify twice before Congress in the next two weeks as House Republicans sharpen their assa... |
2024-09-14 | Bloomberg | Euro Bonds Are Wrong Fix in Half-Way Union: Riccardo Barbieri | A number of European politicians and economists are hailing the euro-bond proposal as the only viable solution to the region’s sovereign-debt dilemma. In their view, joint issuance of euro bonds would take advantage of the creditworthiness of core European Union countries such as Germany without throwing their deficit ... |
2024-12-02 | Bloomberg | Health Insurer Rebates Under Obama’s Overhaul Won’t Be Taxed | Consumers won’t have to pay taxes on rebates they get from health insurance plans that violate spending rules in President Barack Obama’s 2010 overhaul, the U.S. said. When rebates are required, the insurers would have to send customers an explanation of why they’re getting money back and how the sum is calculated, acc... |
2024-05-21 | Bloomberg | MetLife Limits Offshore Reinsurance After N.Y. Review | MetLife Inc. (MET) said it would combine an offshore reinsurer with three U.S. life units after regulators began an investigation into the use of intra-company liability transfers, saying such arrangements could mask risk. MetLife, the largest U.S. life insurer, plans to merge subsidiaries in Connecticut , Delaware and... |
2024-05-11 | Bloomberg | Japan Considering Government Insurance for Iran Crude, IOD Says | Japan ’s government may insure the nation’s tankers that are unable to obtain coverage for shipments of Iranian crude because of European Union sanctions, the International Oil Daily reported. Providing sovereign insurance is among the options being considered, the IOD said today, citing an unidentified Japanese govern... |
2024-11-08 | Bloomberg | Train-Hopping Nomura Broker Chases Appetite for Stocks | The best-performing stock market of the developed world this year is keeping Japanese brokers like Kensuke Ueda running. Literally. Dodging pedestrians and hopping subway trains as he dashes from one client meeting to the next, the 31-year-old employee of Nomura Holdings Inc. bounds up stairs two at a time -- all while... |
2024-10-17 | Bloomberg | Farm Cuts Should Be Held to $23 Billion, Supercommittee Told | Spending on agriculture, rural development and nutrition should be cut by no more than $23 billion over 10 years, leaders of the U.S. House and Senate farm panels told the supercommittee charged with reducing the federal deficit. Specific recommendations on what to cut, including possible reductions in farm subsidies ,... |
2024-06-27 | Bloomberg | Banks Living Wills, UBS Fined, Vatican Bank: Compliance | An increasingly vocal chorus of current and former U.S. regulators says the biggest banks still have not provided adequate plans to safely wind down in bankruptcy and may need to be restructured to reduce the risk they pose to the financial system. Jim Wigand, a Federal Deposit Insurance Corp. official responsible for ... |
2024-06-27 | Bloomberg | BlackRock Weighs Spanish Debt Investment at 6%, Pellicciaro Says | BlackRock Inc. (BLK) is “looking for areas” to make an investment in Spanish debt as the nation is systemically important to the European Union, according to Eric Pellicciaro, the firm’s head of global rates investment. “We believe the line is drawn with Spain,” Pellicciaro of New York based BlackRock, the world’s larg... |
2024-09-11 | Bloomberg | China Trade Surplus Narrows More Than Estimated as Imports Climb to Record | China ’s imports climbed to a record and exports grew more than expected last month, indicating resilience in the world’s second-biggest economy as the U.S. and European recoveries falter. Inbound shipments jumped 30.2 percent from a year earlier to $155.6 billion, the customs bureau said on its website yesterday. That... |
2024-01-27 | Bloomberg | Labor Professor Gets Death Threats as Italy Resists Jobs Revamp | In just about any other country in the world, Pietro Ichino’s biggest career liability would be finding himself alone in a corner at cocktail parties. Ichino is a professor of labor law. In Italy, that means his life is under threat. For the past 10 years, the academic and parliamentarian has lived under armed escort, ... |
2024-11-19 | Bloomberg | LightInTheBox Forecast Sinks Vipshop: China Overnight | LightInTheBox Holding Co. (LITB) plunged 23 percent, leading declines among Chinese stocks traded in New York, after the online discount retailer’s sales forecast trailed analyst estimates. The Bloomberg China-US Index of the most-traded Chinese stocks in the U.S. dropped 0.3 percent to 107.75. LightInTheBox sank to th... |
2024-02-28 | Bloomberg | BLOOMBERG LINK TO CONVENE STATE & MUNICIPAL DEBT CONFERENCE | Press Release U.S. Comptroller General Gene Dodaro, Fmr. Gov. Ed Rendell, Comeback America Founder David Walker and More, to Examine the Implications of the Municipal Financial Crisis NEW YORK -- As deficits grow and federal stimulus programs supporting the municipal bond market dry up, Bloomberg LINK will gather mark... |
2024-02-15 | Bloomberg | Volcker Rule Faces Critics as Effective Date Nears | (Corrects title of HSBC’s Alderoty in 15th paragraph of story published Feb. 14.) The world’s largest banks demanded a wish list of changes to a proposed U.S. ban on proprietary trading, seeking to escalate the lobbying effort against the Volcker rule five months before it takes effect. In scores of comment letters fil... |
2024-04-15 | Bloomberg | ABN Amro Shrinking to Shadow as Dutch Rue Pride of Nation Lost | When the curtain rises at the Royal Theater in The Hague, an actor playing former ABN Amro Holding NV Chief Executive Officer Rijkman Groenink, an avid hunter, drops a dead deer upon the stage. The rest of the drama , titled De Prooi, or The Prey, recounts the events that led the hunter to become the hunted, culminatin... |
2024-12-05 | Bloomberg | U.S. Stocks Snap Two-Day Slump Amid Optimism Over Budget | U.S. stocks advanced, following a two-day decline in the Standard & Poor’s 500 Index, amid optimism lawmakers will reach a budget agreement before the end of the year and after economic data topped estimates. Plains Exploration & Production Co. and McMoRan Exploration Co. (MMR) surged at least 23 percent as Freeport-Mc... |
2024-07-29 | Bloomberg | Oil Futures Rise for First Time in a Week as Stocks Climb, Dollar Weakens | Crude oil rose for the first time in a week as the dollar weakened against the euro, boosting the appeal of commodities as an alternative investment. Oil gained 1.8 percent as the dollar fell to a 12-week low against the euro amid confidence that Europe’s economy improved. The number of Americans filing first-time cla... |
2024-06-20 | Bloomberg | U.K. Stocks Advance for Fourth Day; Invensys, ITV Rally | U.K. stocks increased for a fourth day, extending a six-week high, amid speculation the Federal Reserve may expand support for the economy and as Bank of England policy makers said more stimulus is likely. Invensys Plc surged 28 percent after the company was said to be evaluating options, including a sale. ITV Plc (ITV... |
2024-04-12 | Bloomberg | Mitsui Sumitomo to Buy 26% Stake in India’s Max New York Life | MS&AD Insurance Group Holdings Inc. (8725) , Japan’s biggest casualty insurer, will buy a 26 percent stake in Max New York Life Insurance Co. from the owners of the closely held venture in India. Mitsui Sumitomo Insurance Co., a unit of MS&AD, will purchase 16.63 percent from New York Life Insurance Co. and 9.37 percen... |
2024-07-02 | Bloomberg | Fed Voting to Bring U.S. Capital Rules in Line With Basel | U.S. banking regulators seeking to prevent another global financial meltdown are set to impose new minimums for capital amid predictions that smaller lenders will get easier terms. The Federal Reserve goes first today with a vote that could call for banks to maintain loss-absorbing capital equal to at least 7 percent o... |
2024-02-10 | Bloomberg | Orphans Get Fleeced, Rich Widows Should Be Next: Susan Antilla | It’s hard to imagine why anyone would fleece a widow or an orphan when there are so many inexperienced municipalities and dumb sports team owners to hoodwink. Rich widows, I suppose, will always be tempting marks for con artists. But orphans? If the allegations in a recent lawsuit are true, I’d say we’ve sunk to a new ... |
2024-07-22 | Bloomberg | U.S. Stock Futures Maintain Gains as Jobless Claims Top Forecast | U.S. stock-index futures maintained gains even after initial jobless claims increased more than estimated last week. Futures on the Standard & Poor’s 500 Index expiring in September climbed 1.2 percent to 1,076.5 at 8:32 a.m. in New York. Dow Jones Industrial Average futures increased 98 points, or 1 percent, to 10,15... |
2024-07-14 | Bloomberg | What Debt Talks Teach Us About Obama and Republicans: Ezra Klein | July 14 (Bloomberg)-- We have learned a lot about American politics in recent days. We learned, for example, that Republicans are more committed to keeping taxes low than to reducing the deficit. We learned that the party is led more by House Majority Leader Eric Cantor than by his nominal boss, Speaker John Boehner. W... |
2024-08-14 | Bloomberg | Junk-Bond Buyers Plot Escape in Debt Gap: Credit Markets | Junk-bond buyers are giving up the most yield in seven months to own the biggest, most-easily traded securities as they increasingly hedge their bets that the three-month rally will continue while the global economy slows. Investors are accepting 1.2 percentage points less in yield to own bonds from bigger, newer U.S. ... |
2024-11-22 | Bloomberg | European Banks Legal Tab Tops $77 Billion as Probes Widen | Europe’s biggest banks, led by Lloyds Banking Group Plc (LLOY) and Deutsche Bank AG (DBK) , have racked up more than $77 billion in legal costs since the financial crisis, five times their combined profit last year. Since September 2008, the 18 banks with the highest litigation expenses paid at least $24.9 billion sett... |
2024-09-14 | Bloomberg | Bank Regulators Should Toss Basel, Use Leverage, Hoenig Says | Global bank regulators should scrap Basel capital rules and go back to using a straight-forward leverage ratio to reduce risk in the financial system, Federal Deposit Insurance Corp. board member Thomas Hoenig said. The Basel Committee on Banking Supervision , which brings together regulators from 27 countries includin... |
2024-10-09 | Bloomberg | Debtors’ Prison Is No Place for Country Like U.S. | How is it government officials come to contradictory conclusions about what the U.S. Treasury can do in the event it lacks the money to pay all its bills? Can the Treasury prioritize and pay bondholders before everyone else? The Treasury says no. The Government Accountability Office says yes. Who’s right? Both, unfortu... |
2024-04-27 | Bloomberg | Genworth’s Joelson Steps Down From Running $75 Billion Portfolio | Genworth Financial Inc. (GNW) , the mortgage guarantor and life insurer, said Chief Investment Officer Ronald Joelson is leaving the company to join Northwestern Mutual Life Insurance Co. in the same role. Daniel Sheehan was promoted to oversee the $75 billion portfolio at Genworth, the Richmond, Virginia-based insurer... |
2024-06-28 | Bloomberg | EU Leaders Set to Slow Support for Ailing Banks | European Union leaders said their plan to forge a banking union remained on track even as they muted promises to support ailing lenders when central euro-area supervision starts next year. At a summit in Brussels, the political leaders promised to make “all appropriate arrangements, including the establishment of natio... |
2024-02-24 | Bloomberg | Tax-Free U.S. Yields Touch Lowest of 2011 as Issuance Recedes | Yields on top-rated tax-exempt municipal bonds touched the lowest level this year as a decrease in new issues helped push down borrowing costs. Rates on 10-year AAA munis have fallen about 10 basis points, or 0.10 percentage point, this week to 3.13 percent, and reached the lowest since Dec. 31, according to a Bloomber... |
2024-10-14 | Bloomberg | U.S. Consumers Foot the Bill for Cheap Drugs in Europe and Canada | A few days ago, when I remarked that U.S. pharmaceutical prices subsidize much of the research that benefits the rest of the world, I got various forms of push back, so it seems worth running, briefly, through the logic: 1. Both critics and boosters of pharma agree that prices are higher here than elsewhere. 2. Therefo... |
2024-02-14 | Bloomberg | In California, ’Moderate Democrat’ Is an Oxymoron | California taxpayers have nothing to fear from the new Democratic supermajorities in the state Assembly and Senate. That’s the assurance we keep hearing from the political class and interest groups in the Golden State, where Republican legislators are now reduced to irrelevancy and Democrats control two-thirds majoriti... |
2024-07-30 | Bloomberg | Melco Crown Gains on UBS Recommendation: China Overnight | Chinese stocks traded in New York rebounded from the biggest drop in two weeks after UBS AG recommended buying Melco Crown Entertainment Ltd. (MPEL) shares and China Life Insurance Co. forecast a first-half profit surge. The Bloomberg China-US Equity Index of the most-traded Chinese stocks in the U.S. added 0.7 percent... |
2024-06-15 | Bloomberg | Asian Stocks Swing Between Gains, Losses as Greece Woes Temper U.S. Data | Asian stocks swung between gains and losses as a better-than-estimated U.S. retail sales report countered speculation that Europe ’s sovereign debt crisis will take longer to resolve. Honda Motor Co., a carmaker that gets about 84 percent of sales outside Japan , climbed 2 percent after a report showed U.S. retail sale... |
2024-08-29 | Bloomberg | Republican Platform Is More Important Than You Think | A poll released Monday by the Pew Research Center for the People and the Press included an unexpected result: Americans say they are more interested in the party platforms released during the conventions than the speeches. That is to say, forget the pageantry; voters want the cold, hard pdf documents. That must be a le... |
2024-09-13 | Bloomberg | U.K. Stocks Advance the Most in a Week; Rolls Royce Gains | U.K. stocks climbed to a three-week high before the U.S. Federal Reserve releases a statement that may initiate another round of bond buying to spur economic growth. Rolls-Royce Holdings Plc rose 3.1 percent for the biggest advance on the FTSE 100 Index. (UKX) Resolution Ltd. and Vodafone Group Plc also advanced. BAE S... |
2024-11-04 | Bloomberg | Old Mutual’s Third-Quarter Sales Rise on Market Gains | Old Mutual Plc , the third-biggest insurer in the U.K., said revenue in the third quarter increased 8 percent, helped by gains in equity markets and improved consumer spending. Life insurance sales advanced to 351 million pounds ($566 million) from 326 million pounds a year earlier, the London- based company said in a ... |
2024-07-27 | Bloomberg | Bank of Ireland Investors Order 60% of Rights Offering Stock | Bank of Ireland Plc, the country’s largest lender, said investors ordered 1.14 billion euros ($1.65 billion) in its rights offering, equivalent to 60 percent of the stock on sale. The Dublin-based bank’s advisers will “use reasonable endeavors” to find buyers for the shares not taken up, it said in a statement. The gov... |
2024-09-17 | Bloomberg | Corzine Operated ‘Scheme’ at MF Global, Trustee Alleges | Jon Corzine , the former head of MF Global Holdings Ltd., masterminded a scheme to inflate earnings that led to the eighth-biggest bankruptcy in U.S. history, according to an updated lawsuit filed by a trustee for the failed futures broker. Corzine, a former Democratic governor and senator from New Jersey and once a co... |
2024-07-10 | Bloomberg | JPMorgan Buys Korean Stocks Trading at 2009 Valuation | The lowest South Korean equity valuations since 2009 are spurring JPMorgan Asset Management and Charlemagne Capital Ltd. to buy as earnings projections climb to a record and a weaker won boosts exporters. The MSCI Korea Index lost 7.2 percent last month as speculation of reduced U.S. stimulus sparked outflows from emer... |
2024-01-05 | Bloomberg | Dutch Storms Disrupt Schiphol Flights, Rotterdam Shipping; Farms Flooded | The Dutch authorities are taking measures to prevent flooding across the country amid storms that have delayed flights, disrupted shipping at Rotterdam and led to evacuations of cattle and livestock. Most flights at Amsterdam’s Schiphol airport are being delayed and some have been canceled as high winds limit the numbe... |
2024-08-22 | Bloomberg | Construction Bank in Talks With BofA on Strategic Accord | China Construction Bank Corp. (939) , the world’s second-largest lender by market value, said it’s in talks with Bank of America Corp. (BAC) for a strategic cooperation agreement after extending an existing accord to the end of 2012. The lenders are discussing working together on retail and corporate operations, as wel... |
2024-04-15 | Bloomberg | Taiwan Stocks: China Life Insurance, Sino-American Silicon | Stocks of the following companies had unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are as of 1:30 p.m. close. The Taiex Index fell 84.61, or 1 percent, to 8,718.12. The benchmark lost 2 percent this week, the first decline in four weeks. China Life Insurance Co. (2823 TT) gained 3.9 perc... |
2024-03-29 | Bloomberg | Hong Kong ICAC Arrests Ex-Official, Two Company Executives | Hong Kong ’s anti-corruption bureau said it arrested a former government official and two company executives, after Cable TV earlier reported that Sun Hung Kai Properties Ltd.’s co-chairmen and consultant Rafael Hui were assisting in an investigation. Five other people were earlier arrested for their alleged roles in t... |
2024-07-08 | Bloomberg | Ambac Says Reorganization Plan Rests on July 29 Deadline | Ambac Financial Group Inc. (ABKFQ) , the bankrupt holding company for a failed bond insurer, provided details on the potential outcomes of its Chapter 11 case, saying its reorganization rests on reaching a settlement with Wisconsin regulators by July 29. Ambac could exchange its debt for stock in a new company, or “dec... |
2024-10-13 | Bloomberg | Swan, Rogers to Join to Create Mauritian Insurer | (Corrects name in third paragraph.) Swan Insurance Co. and Rogers & Co. plan to combine parts of their businesses to create the largest insurer in Mauritius, overtaking Mauritius Union Assurance Co. Rogers and Swan also plan to merge their stockbroking and property management services, the companies said on the Port Lo... |
2024-04-14 | Bloomberg | Banks, Glorious Property, Ping An: Hong Kong Stocks Preview | The following companies may have significant price changes in Hong Kong trading. Stock symbols are in parentheses. Share prices are as of the last close. The Hang Seng Index (HSI) gained 0.7 percent to 24,135.03. The Hang Seng China Enterprises Index, which tracks so-called H shares of Chinese companies, increased 1 pe... |
2024-07-20 | Bloomberg | China Removes Floor on Lending Rates as Economy Slows | China eliminated the lower limit on lending rates offered by the nation’s financial institutions as economic growth slows and Premier Li Keqiang expands the role of markets in the world’s second-biggest economy. The change, effective yesterday, removes a floor set at 30 percent below the current 6 percent benchmark , g... |
2024-08-23 | Bloomberg | Emerging-Market Stocks Rise on China, U.S. Stimulus Speculation | Emerging-market stocks rose as investors speculated Chinese and U.S. policy makers will take steps to boost growth in the world’s largest economies as applications for U.S. unemployment benefits climbed. The MSCI Emerging Markets Index (VXEEM) climbed 0.5 percent to 974.09. Russia’s Micex Index added 0.5 percent with ... |
2024-02-14 | Bloomberg | Housing Industry Hopes Obama Line Will Soften Mortgage Rule | U.S. Realtors and mortgage bankers say they hope President Barack Obama ’s call for streamlined mortgage rules in his State of the Union speech will help them persuade regulators not to set a strict minimum down payment for home loans. “Right now, overlapping regulations keep responsible young families from buying thei... |
2024-03-11 | Bloomberg | Gross Says Treasury Investors ‘Under-Rewarded’ With Low Yields | Pacific Investment Management Co.’s Bill Gross said investors aren’t being compensated enough for owning U.S. Treasuries after he eliminated government-related debt from his flagship fund last month. “We’re being under-rewarded at this point in time,” Gross, manager of the world’s biggest bond fund, said today on Bloom... |
2024-05-21 | Bloomberg | Thyssen Woes Tarnish 99-Year-Old Steel Baron’s Legacy | For 60 years, the name of Berthold Beitz has been synonymous with Germany ’s biggest steelmaker, ThyssenKrupp AG, at first for his role in rebuilding the former arms supplier and helping it break with its Nazi past. Now, as head of the foundation that holds a 25.3 percent blocking minority, the 99-year-old has become a... |
2024-11-02 | Bloomberg | Goldman Says Buy VIX Put Options on Election, Fed | Investors should buy VIX puts because the benchmark measure of U.S. options prices will probably fall should today’s elections and tomorrow’s Federal Reserve announcement meet expectations, Goldman Sachs Group Inc. said. Chances that Democrats will lose the U.S. House are 95 percent, according to bets placed on Intrade... |
2024-11-30 | Bloomberg | Natural Catastrophe Losses Increase to $31 Billion | The cost to insurers of natural disasters rose to about $31 billion in the first 11 months of this year after earthquakes in Chile and New Zealand and winter storm Xynthia in Europe, Swiss Reinsurance Co. said. “Despite notably higher than average earthquake losses, overall claims in 2010 were in line with the 20-year ... |
2024-06-28 | Bloomberg | UBS Can Sue MBIA Over Restructuring, N.Y. Highest Court Says | UBS AG (UBSN) , Bank of America Corp. (BAC) and about a dozen other banks won reinstatement of a lawsuit against MBIA Inc. challenging the 2009 restructuring of its insurance unit that guaranteed toxic debt. The state Court of Appeals in Albany, New York ’s highest court, announced its decision today, overturning a low... |
2024-10-24 | Bloomberg | Central Banks Drop Tightening Talk as Easy Money Goes On | The era of easy money is shaping up to keep going into 2014. The Bank of Canada ’s dropping of language about the need for future interest-rate increases and today’s decisions by central banks in Norway, Sweden and the Philippines to leave their rates on hold unite them with counterparts in reinforcing rather than retr... |
2024-10-20 | Bloomberg | Obamacare Said to Take In Almost 500,000 Applications | Almost 500,000 Americans have submitted applications for health insurance through the online exchanges being run by the federal government and 14 states, according to an Obama administration official. Consumer use of healthcare.gov has been stymied by technical glitches since it went live Oct. 1. The site is the govern... |
2024-11-01 | Bloomberg | Google, Oracle Workers Enlisted for Obamacare 'Tech Surge' | Google Inc. , Red Hat Inc. , Oracle Corp. and other technology companies are contributing dozens of computer engineers and programmers to help the Obama administration fix the U.S. health-insurance exchange website. The help is arriving as the government’s main site for medical coverage remains plagued by repeated outa... |
2024-12-27 | Bloomberg | Taiwan's China Life to Invest in Insurance Venture With Construction Bank | China Construction Bank Corp. tied up with Taiwan’s China Life Insurance Co. to invest in Pacific Antai Life Insurance Co., the first insurance venture since China and Taiwan signed a trade accord six months ago. Construction Bank, China’s second-largest lender, said in a statement today it bought 1 percent of Shanghai... |
2024-09-20 | Bloomberg | Fed Stimulus Fading as Forecasters Say Best Is Over: Commodities | The biggest advances in commodities this year may be over because of mounting concern that policy makers aren’t doing enough to bolster economic growth at a time when producers are expanding supply. The Standard & Poor’s GSCI gauge of 24 raw materials will end the year at 677, 3.6 percent higher than now, based on the ... |
2024-08-02 | Bloomberg | Coaches’ Money Manager May Have Taken Blame for Fraud in Note Before Death | J. David Salinas, an investment manager suspected of swindling clients including college basketball coaches out of more than $50 million, may have left a note before his death in which he claimed sole responsibility for his actions, a government lawyer said. The one-page handwritten note, purportedly from Salinas, was ... |
2024-11-07 | Bloomberg | Swiss Re Net Beats Analyst Forecasts as Non-Life Sales Jump | Swiss Re Ltd. (SREN) , the world’s second-biggest reinsurer, reported better than expected third-quarter profit after non-life premiums rose by a fifth. Net income fell 51 percent to $1.07 billion from a year ago, the Zurich-based reinsurer said in a statement today. That beat the $755 million average estimate of 10 an... |
2024-10-04 | Bloomberg | UBS, Credit Suisse May Need to Boost Capital to 19% | UBS AG and Credit Suisse Group AG need to hold almost double the capital required under Basel III rules, said a Swiss government-appointed panel , proposing the first capital surcharge on too-big-to-fail banks. Switzerland’s biggest banks should hold total capital equal to at least 19 percent of their assets, weighted ... |
2024-02-22 | Bloomberg | Florida's Laudable Support for Obamacare | It came as a disappointment when last week's health-insurance exchange deadline came and went without Florida getting on board. After the November election, Florida Governor Rick Scott had raised hopes by indicating a new willingness to "have a conversation" about the Affordable Care Act. This week, though, Scott did s... |
2024-10-06 | Bloomberg | ABC-Mart, Aeon, Mitsubishi Motors, Sankyo-Tateyama: Japan Equity Preview | The following companies may have unusual price changes in Japanese trading today. Stock symbols are in parentheses, and share prices are from the previous close. The information in each item was released after markets shut, unless stated otherwise. Topix Core 30 Index: The Tokyo Stock Exchange will announce changes in ... |
2024-05-30 | Bloomberg | Norinchukin Doubles Increase in Deposits in April on Earthquake | Norinchukin Bank, Japan ’s largest lender for farmers and fishermen, said it almost doubled its deposit increase in April compared with a year earlier as customers were paid insurance claims after a record earthquake. Norinchukin added 624.2 billion yen ($7.7 billion) to its deposit balance in April to 86.44 trillion y... |
2024-05-30 | Bloomberg | AIG Could Happen Again Without Dodd-Frank Fix | The near-failure of insurance firm American International Group Inc. (AIG) in 2008 was arguably the most perilous moment of the global financial crisis. Unfortunately, something similar could easily happen again. The Dodd-Frank Wall Street Reform and Consumer Protection Act contains ample measures aimed at preventing a... |
2024-12-07 | Bloomberg | Scotiabank Fourth-Quarter Profit Rises on Capital Markets | Bank of Nova Scotia (BNS) , the last of Canada ’s six main banks to report fourth-quarter results, said profit climbed 31 percent on gains from capital markets-related businesses. Net income for the period ended Oct. 31 climbed to C$1.52 billion ($1.53 billion), or C$1.18 a share, from C$1.16 billion, or 97 cents, a ye... |
2024-12-15 | Bloomberg | Obama Meeting CEOs Shows President Who Delivers Gains | As President Barack Obama today holds his largest private meeting with chief executive officers since he entered the White House, he may find some of his corporate critics cheering. Obama is generating more optimism among CEO s after a series of business-friendly decisions, such as extending Bush-era tax cuts and reach... |
2024-04-11 | Bloomberg | Mitek Systems to Fight USAA Lawsuit: Los Angeles Mover | Mitek Systems Inc. (MITK) rose for the first time in nine trading sessions after hiring a law firm to defend itself and calling “dishonest” an allegation by customer USAA that it misappropriated check-imaging technology. Mitek Systems, which had lost half of its value through yesterday since the March 29 lawsuit by USA... |
2024-03-06 | Bloomberg | Citadel Securities Cuts Almost 10% of Employees After Review | Citadel Securities, a unit of Citadel LLC in Chicago , has fired about 10 percent of its staff. Matt Cushman, a senior managing director who joined the firm in 2011 from Knight Capital Group Inc., was among more than two dozen people who lost their jobs, including five last week, according to a person with direct knowl... |
2024-10-19 | Bloomberg | Prudential In Final Stage of U.S. Systemic-Risk Review | Prudential Financial Inc. (PRU) , the second-largest U.S. life insurer, is in the last stage of a regulatory review that may impose extra oversight because its central role could endanger the economy if the firm ever failed. The Financial Stability Oversight Council told Newark , New Jersey-based Prudential that it has... |
2024-01-25 | Bloomberg | Yapi Kredi Sigorta Surges on Sale Speculation Firm Denies | Yapi Kredi Sigorta AS (YKSGR) , Yapi & Kredi Bankasi AS’s insurance unit, gained the most in 11 months on renewed speculation the unit would be sold. Yapi Kredi Sigora jumped 10 percent to 14.55 liras at the close in Istanbul trading, its biggest gain since Feb. 28, 2011. The volume of shares traded reached 320 percent... |
2024-12-07 | Bloomberg | Saiers Made Partner at Alphabet Management After 27% Gain | Nelson Saiers was promoted to full partner and co-managing member of Alphabet Management LLC after leading the volatility hedge fund to a 27 percent advance since July 2010. The company, which specializes in options to bet on the swings in stocks and other assets, will change its name to Saiers Capital LLC, according t... |
2024-11-12 | Bloomberg | Health Gains in U.S. Slow Even as Costs Rise, Study Finds | The $2.7 trillion U.S. health-care system lags behind other nations in improving its citizens’ health even as spending has doubled, increasing faster than any other industry over the past decade, researchers said. The rise in costs have been driven primarily by the price of services, drugs and devices rather than highe... |
2024-08-23 | Bloomberg | Bank of Montreal Profit Rises 19%, Boosted by Investment-Banking Earnings | Bank of Montreal (BMO) , the first Canadian bank to report third-quarter results, said profit rose 19 percent on higher investment-banking earnings, beating analysts’ estimates. Net income climbed to C$793 million ($803 million), or C$1.27 a share, from C$669 million, or C$1.13, for the period ended July 31, the Toront... |
2024-10-15 | Bloomberg | UnitedHealth Proposes Medicare, Medicaid Managed-Care Plan to Cut Costs | Oct. 15 (Bloomberg) -- UnitedHealth Group Inc. , the biggest U.S. health insurer by sales, said enrolling dual recipients of Medicare and Medicaid into managed-care plans would save as much as $1.62 trillion in the U.S. during 25 years. Almost 9 million Americans receive coverage from both Medicare , the U.S. health pl... |
2024-07-20 | Bloomberg | Canada June Consumer Price Index Report (Text) | The following is the text of Canada’s consumer price index report for June released by Statistics Canada. Consumer prices rose 1.5% in the 12 months to June, following a 1.2% gain in May. The increase in the Consumer Price Index (CPI) was led by higher prices for the purchase of passenger vehicles and, to a lesser exte... |
2024-09-06 | Bloomberg | Solyndra’s Former Workers Sue Solar Company Over Firing, Lack of Warning | Former Solyndra LLC employees sued the bankrupt solar-panel maker, claiming it failed to give the warning required under federal law before shutting down and firing them last week. Solyndra filed for protection from creditors today in U.S. Bankruptcy Court in Wilmington, Delaware, six days after shutting down its facto... |
2024-01-12 | Bloomberg | Trustmark Increases for Health Plans ‘Unreasonable,’ U.S. Regulator Says | Trustmark Life Insurance Co. raised premiums for about 10,000 people covered by health plans in five states at an “unreasonable” rate, the Obama administration said. The closely held company increased the price for plans in Pennsylvania , Arizona , Alabama, Virginia and Wyoming by at least 13 percent, the Department of... |
2024-02-07 | Bloomberg | Prudential Declines on ‘Laundry List’ of Quarterly Costs | Prudential Financial Inc. , the second-biggest U.S. life insurer, fell the most among the largest financial firms after reporting a loss on costs tied to currency fluctuations. Prudential slid 4 percent to $56.16 at 11:06 a.m. in New York, the steepest drop on the 81-company Standard & Poor’s 500 Financials Index. The ... |
2024-09-25 | Bloomberg | Silicon Forest Baseball Wager Penalizes Oregon City: Muni Credit | Hillsboro, Oregon ’s fifth-biggest city, is staking its credit rating on a plan to build a $15.2 million stadium for a minor-league baseball team. Similar efforts in Washington state and New Jersey ended in downgrades. The Portland suburb with about 93,500 residents broke ground on the venue last week. It will house an... |
2024-07-06 | Bloomberg | EFSF Should Purchase Greek Debt to Contain Crisis, Weinberg Says | Euro-area leaders should use the European Financial Stability Facility to buy Greek sovereign debt to prevent the crisis from infecting the banking system, according to Carl Weinberg of High Frequency Economics. “The situation would be contained, the losses will be contained, and we won’t run the risk of some uncontrol... |
2024-06-01 | Bloomberg | Obama Tells Donors Health-Care Fight May Loom After Court Rules | President Barack Obama is confiding to Democratic donors that he may have to revisit the health-care issue in a second term, a position at odds with his publicly expressed confidence that the U.S. Supreme Court will uphold the Affordable Care Act, according to three Democratic activists. As he previewed his agenda for ... |
2024-03-16 | Bloomberg | Novartis, Roche’s Xolair Blunts Asthma Attacks in Children in U.S. Cities | Xolair, sold by Novartis AG (NOVN) and Roche Holding AG (ROG) , improved treatment of asthma for inner-city children and young adults, according to a U.S.-funded study. Those given an injection of Xolair had fewer days with symptoms , such as wheezing and shortness of breath, and fewer asthma attacks compared with thos... |
2024-02-28 | Bloomberg | Lloyds Tops List for Consumer Complaints on U.K. Bank Market | Lloyds Banking Group Plc , Britain’s biggest mortgage lender, received twice as many consumer complaints as other banking groups in the second half of 2010, according to the U.K. Financial Ombudsman Service. Lloyds was the subject of 22,181 complaints between July 1 and Dec. 31, 2010, the ombudsman said in a statement ... |
2024-10-11 | Bloomberg | Structured Note Sales Slow in Third Quarter as Volatility Drops | Third-quarter sales of structured notes in the U.S. fell to the lowest this year as a new round of quantitative easing and the lead-up to the November presidential election damped market volatility. Investors bought $9.37 billion of the securities, down 4.3 percent from the previous quarter, according to data compiled ... |
2024-09-06 | Bloomberg | Default Swaps on Treasuries Drop to Record Low Against Bunds in S&P Denial | U.S. debt rated AA+ is beating AAA German bunds as investors seek the safety of the world’s biggest bond market amid slowing growth and Europe’s financial crisis. Traders are paying $73,830 a year to protect $10 million of Treasuries against default, less than during the height of the financial crisis in 2008 and below... |
2024-05-06 | Bloomberg | ‘Squatter Rent’ May Boost Spending as Mortgage Holders Bail | Melissa White and her husband stopped paying their mortgage in May 2008 after it reset to $3,200 a month, more than double the original rate. That gave them extra cash to pay off debts and spend on staples until their Las Vegas home sold two years later for less than they owed. “We didn’t pay it for about 24 months,” s... |
2024-08-10 | Bloomberg | Standard Chartered’s Fitness Is Key Grounds for Shutdown | New York ’s financial-services regulator has grounds to shut Standard Chartered Plc (STAN) in the state even if he accepts the firm’s argument that it illegally laundered only a fraction of the $250 billion he claims. As the state’s top banking regulator, Benjamin Lawsky has power to act in his discretion against any f... |
2024-02-20 | Bloomberg | Bank of Ireland CEO Says Home Loan Arrears to Peak in 2012 | Bank of Ireland Plc Chief Executive Officer Richie Boucher said he expects the bank’s home-loan arrears to peak this year and loan-loss impairments will “reduce over time” as the Irish economy recovers. Shares in the largest Irish lender advanced. The proportion of Irish home mortgages more than 90 days in arrears rose... |
2024-06-30 | Bloomberg | Peter Madoff Admits Aiding Brother’s Ponzi Scheme | Peter Madoff pleaded guilty to enabling his brother Bernard Madoff to pull off the biggest Ponzi scheme in U.S. history -- though Peter denied knowing the business was a sham until the firm collapsed. The chief compliance officer of Bernard L. Madoff Investment Securities LLC, or BLMIS, who helped his brother run the f... |
2024-08-11 | Bloomberg | Chile Can Fund Education Without Raising Taxes, Larrain Says | Chile ’s growing economy will generate enough tax revenue to overhaul an education system that has been the subject of nationwide protests over the past two months, Finance Minister Felipe Larrain said. Increasing tax rates isn’t necessary to fund the government’s education and social programs, he said today at a Santi... |
2024-10-24 | Bloomberg | Aberdeen Says in Talks to Acquire Lloyds’s SWIP Division | Aberdeen Asset Management Plc (ADN) said it’s in talks to buy Scottish Widows Investment Partnership from Lloyds Banking Group Plc (LLOY) , a deal that would make it Europe ’s largest publicly traded money manager. The stock jumped. Aberdeen would pay for the acquisition by issuing new shares to Lloyds, the Scottish mo... |
2024-09-07 | Bloomberg | Cleary Gottlieb, Latham, Proskauer: Business of Law | Cleary Gottlieb Steen & Hamilton LLP opened an office in Abu Dhabi yesterday after receiving a license from the Abu Dhabi Executive Council. Partner Gamal Abouali, who was based in Paris, has relocated to Abu Dhabi to head the office. The firm’s Middle East practice, which counts among its clients Orascom Telecom Holdi... |
2024-03-30 | Bloomberg | Prudential Fund Boss’s Pay Rises Above CEO at $12.2 Million | Prudential Plc (PRU) , the U.K.’s biggest insurer by market value, paid Michael McLintock, head of fund unit M&G, 7.6 million pounds ($12.2 million) last year, 60 percent more than Chief Executive Officer Tidjane Thiam. McLintock will receive 6 million pounds in long-term incentive pay in addition to 1.6 million pounds... |
2024-01-20 | Bloomberg | Canada December Consumer Price Index Report (Text) | The following is the text of Canada 's consumer price index report for December released by Statistics Canada. Consumer prices rose 2.3% in the 12 months to December, following a 2.9% increase in November. The 0.6 percentage point difference was led by a slower increase in gasoline prices as well as declines for the pu... |
2024-07-22 | Bloomberg | RBS May Need Extra Help From U.K. Taxpayer, Asset Protection Agency Says | There’s a “reasonable chance” that Royal Bank of Scotland Group Plc will require additional support from British taxpayers, according to the Asset Protection Agency , which insures risky assets for the biggest U.K. government-controlled lender. The bank may record 57 billion pounds ($87 billion) of losses on its gover... |
2024-11-20 | Bloomberg | Bain Capital Sued by Ex-Software Executive Over Buyout | Bain Capital Partners LLC and an insurance business technology company it controls were accused in a lawsuit of acting in bad faith when engineering the acquisition of an insurance software developer. Artizan Internet Services LLC principal Richard Roy accused Bain and University Park , Illinois-based Applied Systems I... |
2024-08-12 | Bloomberg | Wine Loving Inventor Solves Red or White by Glass Battle | Hankering for a taste of 1979 Il Colle Brunello di Montalcino with your dry-aged steak? At New York ’s Del Posto restaurant, a three-ounce pour is $169, six ounces, $338. The by-the-glass list includes hard-to-obtain 2000 Giacomo Conterno Barolo Monfortino for $100 and $200, and last month, rare Italian stunner 2002 Ma... |
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