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2024-11-01 | Bloomberg | Where Would Obamacare Be With Romney at the Wheel? | With President Barack Obama invoking Mitt Romney to defend the Patient Protection and Affordable Care Act this week in Boston, it’s worth considering what U.S. health-care policy would look like today if Romney had won the presidency a year ago. The answer: very different in many important ways, but frustratingly simil... |
2024-09-10 | Bloomberg | Austrian Banks' East Europe Asset Quality Uncertain: IMF | Austrian bank assets in eastern Europe , the former communist bloc where they are the biggest lenders, may be in worse shape than reported because of shortcomings in data, the International Monetary Fund said. Figures show that about a sixth of the loans of Austrian banks in central, eastern and south-eastern Europe ar... |
2024-11-06 | Bloomberg | ING to Speed Up Reorganization After Revised Deal With EU | ING Groep NV (INGA) , the biggest Dutch financial-services company, will complete its reorganization two years earlier than planned after winning regulators’ permission to combine its Japanese insurance unit with European operations in a 2014 initial public offering. Under its agreement with the European Commission, IN... |
2024-10-09 | Bloomberg | BlackBerry Is Said to Warm to Idea of a Breakup | BlackBerry Ltd. (BB) is more open to a breakup of the company amid concerns that Fairfax Financial Holdings Ltd. (FFH) may be unable to line up funding or partners for a $4.7 billion buyout, a person with knowledge of the matter said. Companies such as SAP AG (SAP) , Cisco Systems Inc. (CSCO) and Samsung Electronics Co... |
2024-04-15 | Bloomberg | Fannie Mae Warns Servicers on Mortgage Insurance Agreements | Fannie Mae , the government-owned finance company, told mortgage servicers to halt a practice that could help them avoid repurchasing flawed home loans. In a notice to banks today, the company said servicers are prohibited from entering into loss-sharing or indemnification agreements with mortgage insurers. The deals h... |
2024-03-28 | Bloomberg | Your Rights Are Wrong If They Cost Too Much: Terrence R. Keeley | The raging budget battle in Washington is among the most momentous in U.S. history. It primarily pivots on two questions: What benefits are Americans entitled to and how do we pay for them? The first is the hardest. Richard Trumka , president of the AFL-CIO federation of labor organizations, recently said Governor Scot... |
2024-01-31 | Bloomberg | Canada Nov. Gross Domestic Product Report (Text) | The following is the text of the Nov. GDP report released by Statistics Canada. Real gross domestic product grew 0.3% in November, following a 0.1% rise in October. Most major industrial sectors increased production in November. Goods production increased 0.6% while the output of service industries rose 0.1%. Manufactu... |
2024-12-19 | Bloomberg | Allstate Bets on Home Insurance as Stock Rally Withstands Sandy | Allstate Corp. (ALL) Chief Executive Officer Tom Wilson is poised to expand the homeowners’ insurance business that he shrunk by more than a million policies in the last four years to reduce risk and boost shareholder returns. Wilson, 55, is working to improve customer loyalty after a consolidation of Allstate agencies... |
2024-11-20 | Bloomberg | Deutsche Bank to Cut Jobs at Sal. Oppenheim Wealth Manager Unit | Deutsche Bank AG (DBK) , Germany ’s largest bank, is in talks with employee representatives on reducing headcount at its Sal. Oppenheim unit as the wealth manager will use more services offered by its parent. The company will eliminate overlap between Sal. Oppenheim and Deutsche Bank over the next 15 months which will ... |
2024-03-27 | Bloomberg | China Pacific Insurance Profit Rises 16.3% on Premium Growth | China Pacific Insurance (Group) Co.， the nation’s third-biggest insurer, said profit rose 16.3 percent last year as premiums expanded. Net income climbed to 8.56 billion yuan ($1.3 billion), or 1 yuan a share, from 7.36 billion yuan, or 0.95 yuan a share, a year earlier, the company said in a statement to the Hong Kong... |
2024-12-21 | Bloomberg | Merck Lowers Price of Isentress Drug for State AIDS Programs | Merck & Co. (MRK) reduced the price of AIDS drug Isentress for U.S. state programs that provide antiviral medicines to lower-income people who have limited or no insurance. The price cut will happen on Jan. 1 and be effective through the end of 2013, the Whitehouse Station , New Jersey drugmaker said in a statement tod... |
2024-08-05 | Bloomberg | Asian Stocks Tumble 10% From May High on Economic Growth Concern | Asian stocks tumbled, with the regional benchmark index falling more than 10 percent from its May peak, as concern the world economy is weakening sparked an equities rout that drove the Standard & Poor’s 500 Index to its worst slump since February 2009. Sony Corp., a Japanese exporter of consumer electronics that earns... |
2024-10-10 | Bloomberg | Summary of Economic Reports by Federal Reserve District Banks | Following is a summary of U.S. economic conditions as reported by the 12 Federal Reserve district banks in the central bank’s latest regional survey, known as the Beige Book. The Federal Reserve Bank of Atlanta prepared the latest report. Information was collected on or before Sept. 28. Boston: “Reports from business c... |
2024-06-21 | Bloomberg | BofA May Sell Part of CCB Stake to Bolster Capital | Bank of America Corp. (BAC) may sell some of its $21 billion stake in China Construction Bank Corp. (939) to bolster capital before new international standards take effect, said three people briefed on the plans. Bank of America, the biggest U.S. lender by assets, wants to keep about half its CCB shares so it can remai... |
2024-02-22 | Bloomberg | Gillard Set for Australian Leadership Showdown as Rudd Canvasses Support | Julia Gillard staged a political coup in June 2010 to become Australia’s prime minister and clung to power two months later, assembling a one-seat majority after the closest election since 1940. Her biggest leadership test may come next week. Kevin Rudd , 54, announced his resignation as foreign minister after 1 a.m. o... |
2024-08-30 | Bloomberg | Bank of America, Barnes & Noble, Boeing, Eastman Kodak: 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. Bank of America Corp. (BAC) lost the most in the Dow Jones Industrial Average , slipping 3.2 percent to $8.12. The Federal Deposit Insurance Corp. objected to the lender’s pro... |
2024-03-07 | Bloomberg | ABN Amro Group Acquires Dutch Commercial-Banking Assets From RBS | ABN Amro Group NV, the Dutch lender nationalized in 2008, is taking over some of Royal Bank of Scotland Group Plc’s commercial-banking activities in the Netherlands to bolster its position in its home country. The segments include corporate finance, equity brokerage and capital structuring, and employ about 70 people, ... |
2024-09-21 | Bloomberg | BlackBerry Is Seen Mimicking Palm’s Decline | BlackBerry Ltd. (BBRY) reported a more than 40 percent plunge in sales and vowed to cut a third of its workforce, raising concern that it’s on the same downward spiral as Palm Inc., though without prospects for a last-minute buyer. The company said yesterday that it’s eliminating 4,500 jobs and recording an inventory w... |
2024-03-04 | Bloomberg | Dow Climbs to Five-Year High as Fed Bets Offset China | U.S. stocks rose, sending the Dow Jones Industrial Average to its highest level since 2007, as speculation the Federal Reserve will continue stimulus measures overshadowed concern over spending cuts and China’s economy. Airlines rallied while industrial and energy stocks fell as oil dropped to its lowest level since De... |
2024-03-27 | Bloomberg | Kazumasa Iwata Joins Kuroda Naysayers as BOJ to Meet: Economy | Former Bank of Japan (8301) Deputy Governor Kazumasa Iwata, an advocate of expanded stimulus, joined economists predicting the bank’s new chief Haruhiko Kuroda will fail to meet his deadline for a price target. “It’s impossible to achieve 2 percent inflation in two years,” Iwata, 66, president of the Japan Center for E... |
2024-11-19 | Bloomberg | Thailand Growth Slows as Weak Overseas Demand Hurts Exports | Thailand ’s growth slowed in the third quarter as cooling global demand hurt the nation’s exports, even as signs of a recovery in China and the U.S. signal the economy may have bottomed. Gross domestic product increased 3 percent in the three months through September from a year earlier, after expanding a revised 4.4 p... |
2024-07-09 | Bloomberg | Best-Ranked Bank OCBC Cautions on China Crunch: Southeast Asia | Oversea-Chinese Banking Corp. (OCBC) , Southeast Asia ’s second-largest lender, says banks doing business in China will have to be more prudent with liquidity to weather any future crises. The credit crunch that started in mid-June is temporary and caught some lenders by surprise, OCBC Chief Executive Officer Samuel N.... |
2024-04-10 | Bloomberg | U.S. 10-Year Note Yield Falls Below 2% on Europe’s Debt | April 10 (Bloomberg) -- Treasury (USGG3YR) 10-year yields fell below 2 percent for the first time in almost a month amid speculation the European sovereign-debt crisis is worsening as yields on Spanish and Italian bonds rose. Treasury securities remained higher after the U.S. sold $32 billion of three-year notes, with ... |
2024-08-29 | Bloomberg | Record Farm Profit Amid Drought Raises Questions of Aid | A projection that U.S. farmers will make a record profit amid the worst drought in more than five decades shows that government help for producers can be scaled back, critics say. Higher prices and crop-insurance payments will outweigh losses from dry conditions, propelling aggregate farm profits to $122.2 billion this... |
2024-12-10 | Bloomberg | Obama-Boehner Talks Stuck on Refusal to Move on Budgets | President Barack Obama and House Speaker John Boehner have three weeks to resolve their differences before more than $600 billion of spending cuts and tax increases start taking effect. Here are questions and answers on what the fiscal dispute is about and what each side is demanding in the talks: What’s the latest in ... |
2024-12-21 | Bloomberg | U.S. FCC Adopts Rules for Web Service by AT&T, Comcast | U.S. regulators banned Internet service providers led by AT&T Inc. and Comcast Corp. from blocking or slowing Web content sent to homes and businesses, while allowing mobile phone companies to put limits on traffic. The Federal Communications Commission approved the so- called net-neutrality rules by a vote of three to... |
2024-01-05 | Bloomberg | Slovenia’s Triglav Insurer Targets $78 Million Profit for 2012 | Zavarovalnica Triglav (ZVTG) d.d., Slovenia’s biggest insurance company, said it expects net income to advance to 60.6 million euros ($78 million) this year from an estimated 54.4 million euros last year. Gross-written premiums will drop to 984 million euros in 2012 from an estimated 989 million euros in 2011, the Ljub... |
2024-07-24 | Bloomberg | Bank of America Adds Rose, de Weck to Board Amid Overhaul | Bank of America Corp. , the second-biggest U.S. lender by assets, expanded its board by naming former Wall Street bankers Clayton Rose and Pierre de Weck as directors. Rose, 54, a former JPMorgan Chase & Co. (JPM) executive, is a professor of management practice at Harvard Business School, Bank of America said today in... |
2024-10-01 | Bloomberg | Romney Pitches Broader Message to Voters Before Debates | Mitt Romney , who a top aide predicted months ago would get an Etch A Sketch clean slate for the general election, is broadening his message and moderating his tone to reach out to swing voters in the run-up to the first in a series of presidential debates this month. The Republican presidential nominee spent much of t... |
2024-02-21 | Bloomberg | Citigroup Stakes, U.S. Mutuals, EFSF Bonds: Compliance | Citigroup Inc. (C) , the third-biggest U.S. bank by assets, will let managers of its hedge funds own part of the business ahead of rules that limit shareholders’ cash in the unit, Chief Operating Officer John Havens said. Employees in the Citi Capital Advisors division, or CCA, will get a “significant” stake in managin... |
2024-10-20 | Bloomberg | Health Rules Prod U.S. Hospitals to Form Networks for Care to Trim Costs | Hospital chains such as Community Health Systems Inc. (CYH) may get as much as $1.9 billion in bonuses by forming joint ventures to improve care and cut medical costs under regulations released by the Obama administration. The U.S. Department of Health and Human Services issued final rules today for so-called accountab... |
2024-07-23 | Bloomberg | Muni `Race to Bottom' May Cost $1 Trillion, Former Los Angeles Mayor Says | U.S. cities and states may need more than $1 trillion of federal assistance in the next three years to stave off financial failure, former Los Angeles Mayor Richard Riordan said. Local governments are in a “race to the bottom” and U.S. taxpayers will inevitably be called on to bail them out, Riordan said in an intervi... |
2024-05-21 | Bloomberg | KidsPeace Files Bankruptcy Blaming Government Cuts | KidsPeace Corp., the owner of a nonprofit psychiatric hospital for teenagers in Pennsylvania , filed for bankruptcy blaming government spending cuts. The company will try to use bankruptcy to reduce its bond debt to $24 million from $51.3 million and to trim pension obligations that may exceed $100 million, according t... |
2024-10-01 | Bloomberg | U.S. Fiscal Feud Sees No Heroes as Voters Assess Blame | The partial shutdown of the U.S. government for the first time in 17 years has become a contest of who is wearing the cleanest dirty shirt. President Barack Obama said Republicans who control the U.S. House are risking the economic recovery to derail the Affordable Care Act, even though it was upheld by the Supreme Cou... |
2024-01-17 | Bloomberg | Pictet Says Swiss Money Managers May Move Abroad Over EU Access | Swiss money managers may relocate businesses abroad if the Alpine nation fails to negotiate better market access to the European Union, said Nicolas Pictet, chairman of the Swiss Private Bankers Association. “It’s urgent and important that Switzerland focuses on guaranteeing external market access for its financial ind... |
2024-08-10 | Bloomberg | Julius Baer Said Near Deal to Acquire Merrill Non-U.S. Units | Julius Baer Group Ltd. (BAER) , the Swiss money manager established in 1890, is nearing an agreement to acquire Bank of America Corp. (BAC) ’s Merrill Lynch wealth management businesses outside the U.S., according to two people with knowledge of the matter. An announcement may come as early as Aug. 13, said the people,... |
2024-07-19 | Bloomberg | Kagan to Weigh Recusal From Health-Law Challenges on `Case-by-Case' Basis | Elena Kagan told Republicans on the Senate Judiciary Committee that, if confirmed to the U.S. Supreme Court, she would decide on a case-by-case basis whether to recuse herself from considering challenges to the new health- care overhaul. Kagan, who as U.S. solicitor general represents the Obama administration in high ... |
2024-09-24 | Bloomberg | German Business Sentiment May Wane as Recovery Slows | German business confidence probably fell from a three-year high in September as a global slowdown damped the country’s export-driven recovery. The Ifo institute will say its business climate index , based on a survey of 7,000 executives, eased to 106.4 from 106.7 in August, the highest since June 2007, according to the... |
2024-03-16 | Bloomberg | Morgan Keegan Loses Dismissal Bid in $8 Billion Fairfax Suit | Morgan Keegan, the brokerage being sold to Raymond James Financial Corp. (RJF) , lost its bid to be dismissed from an $8 billion lawsuit brought by Canadian insurer Fairfax Financial Holdings Ltd. Fairfax, in its 2006 lawsuit, accused investors of conspiring with analysts and researchers to spread false rumors and driv... |
2024-04-12 | Bloomberg | Banco Espirito, Roche, Philips: European Equity Preview | The following companies’ shares may have unusual moves in European (SXXP) trading. Stock symbols are in parentheses. The Stoxx Europe 600 Index increased 0.7 percent to 254.43. The Stoxx 50 Index (SX5P) gained 0.6 percent to 2,385.18. The Euro Stoxx 50 Index (SX5E) , a benchmark measure for nations using the euro, rose... |
2024-06-27 | Bloomberg | Euro Strength Sustained in Widest Libor Gap Since 2009 as Greek Vote Looms | Euro bears driving the region’s shared currency to its first two-month loss in a year are facing rising interest rates, bullish bets in futures markets and Angela Merkel’s determination to keep the 17-nation bloc intact. The euro slid 4.2 percent since April as mounting concern that Greece would default drove Prime Min... |
2024-01-26 | Bloomberg | Europe Stocks Climb to Five-Month High; Stoxx 600 in Bull Market | European stocks advanced, climbing 20 percent from the September low and entering a bull market, after the U.S. Federal Reserve signaled it may keep interest rates low through 2014 and a report said Greece’s creditors will make a new offer for a debt-swap deal. Commodity shares led gains, with BHP Billiton Ltd. (BHP) a... |
2024-07-23 | Bloomberg | Apple Growth Seen Pausing as IPhone Buyers Await Model | As iPhone fans await the release of a new model, they are delaying purchases and may cause Apple Inc. (AAPL) , the world’s largest company by market value, to post its slowest sales and profit growth in more than two years. With a redesigned model probably arriving by October, analysts estimate that sales of iPhones --... |
2024-08-01 | Bloomberg | Syrian Crisis Costs Lebanon $150 Million in Exports, NNA Reports | Lebanon has lost more than $150 million in exports through its land crossing with Syria since the beginning of the year, state-run National News Agency said, citing Khaled Farshoukh, head of the Export Development Council. Farshoukh said 40 percent of Lebanon’s exports travel through Syria, the country’s only land acce... |
2024-05-31 | Bloomberg | Russia Stocks Drop to 5-Week Low as Crude Slumps, Banks Retreat | Russian equities fell to a five-week low, extending a fourth-straight monthly drop as crude oil tumbled and the nation’s biggest lenders declined. The Micex Index (INDEXCF) retreated 0.8 percent to 1,350.48 by 11:41 a.m. in Moscow, poised for a 2.5 percent drop in the month. Financial stocks led the declines among indu... |
2024-05-10 | Bloomberg | Yen Breach of 100 Per Dollar Foreshadows More Weakness | (Corrects scale of yen move in fourth paragraph) The yen is poised to weaken even further versus the dollar after breaking a key support level at 100 for the first time in four years, trading patterns show. The Japanese currency will pass through support at 101.69 per dollar before completing a so-called triangle patte... |
2024-06-12 | Bloomberg | Cnooc 52% Discount to Woodside Shows Julius Baer China Bargains | This month’s tumble in China Shenhua Energy Co.’s Hong Kong shares dragged valuations to 73 percent below global peers. Cnooc Ltd. (883) , China’s largest offshore oil producer, sells at a 52 percent discount to Woodside Petroleum Ltd., while Ping An Insurance Group Co. trades at its lowest level versus net assets in 1... |
2024-03-18 | Bloomberg | Canada February Consumer Price Index Report (Text) | The following is the text of Canada 's consumer price index report for February released by Statistics Canada. Consumer prices rose 2.2% in the 12 months to February, following the 2.3% increase posted in January. Energy prices rose 10.6% during the 12 months to February, after posting a 9.0% increase the previous mont... |
2024-08-18 | Bloomberg | What If What You ’Survived’ Wasn’t Cancer? | You’re feeling fine when you go for your annual physical. But your mammogram looks a little funny, or your PSA test is a little high, or you get a CT lung scan and a nodule shows up. You get a biopsy, and the doctor delivers the bad news: You have cancer. Because you don’t want to die, you agree to be sliced up and irr... |
2024-07-06 | Bloomberg | MGIC Discriminates Against Mothers on Paid Leave, U.S. Says in Lawsuit | Mortgage Guaranty Insurance Corp., the largest U.S. provider of mortgage insurance , was sued by the Justice Department for allegedly refusing to provide insurance for loans to women on paid maternity leave. The insurer violated the U.S. Fair Housing Act by discriminating based on sex and familial status, David Hickton... |
2024-11-22 | Bloomberg | ING to Cut 60 Asia Commercial Banking Jobs by End of June 2013 | ING Groep NV (INGA) , the biggest Dutch financial-services company, will eliminate 60 jobs at its commercial bank in Asia by the end of June as part of its three- year plan to reduce costs by 460 million euros ($590 million). The company cut 13 jobs across six countries in Asia in the past week and will make the remain... |
2024-09-20 | Bloomberg | Why the NFL Should Let Players Smoke Pot | “Me, personally, I didn’t like painkillers,” says Nate Jackson, a former tight end for the Denver Broncos. “I just medicated on my own. Most players do that.” Football is a violent game. If you play football, you will experience pain. If you experience pain, you will seek ways to alleviate it. So, what are your options... |
2024-08-05 | Bloomberg | Spanish-Language El Clasificado Balances Print Growth With Online Push | Growing up in East Los Angeles, Martha de la Torre spoke South American-influenced Spanish, which often elicited playground taunts from her classmates, mostly Mexican- Americans. Midway through elementary school, she swore she’d never speak Spanish again, except to her Ecuadorean grandmother. Today she runs El Clasific... |
2024-09-01 | Bloomberg | Discovery’s Full-Year Profit Advances by 50% After Insurer Expands in U.K | Discovery Holdings Ltd. (DSY) , which owns South Africa ’s largest medical-insurance administrator, said fiscal full-year profit rose 50 percent after it expanded in the U.K. Net income for the 12 months to June 30 climbed to 2.58 billion rand ($368 million) from 1.72 billion rand a year earlier the Johannesburg-based ... |
2024-07-11 | Bloomberg | Swaps, CFTC, Peregrine, Vitamin Price-Fixing: Compliance | The U.S. Commodity Futures Trading Commission voted to define when trades are considered swaps under the Dodd-Frank Act, a step that triggers more than a dozen rules under the 2010 financial-regulation overhaul. The agency’s commissioners voted 4-1 yesterday to approve a 600-page measure governing when interest-rate, c... |
2024-10-13 | Bloomberg | Weber Says Investors Should Take Losses in Swap of Greek Debt | Axel Weber , the former president of Germany’s central bank, urged a restructuring of Greek sovereign debt that results in losses for investors and banks, which would then require additional capital. Weber, speaking today in Philadelphia, proposed a swap in which bondholders would exchange claims on low-rated Greek deb... |
2024-03-13 | Bloomberg | Japan Earthquake Insured Losses May Reach $34 Billion, AIR Worldwide Says | The insured property losses from the 8.9-magnitude earthquake that struck Japan on March 11 may be as much as 2.8 trillion yen ($34.2 billion), according to a preliminary estimate by disaster modeler AIR Worldwide. The company used a variety of scenarios including a range from 8.9 to 9.1 in magnitude, a depth of betwee... |
2024-05-24 | Bloomberg | JPMorgan, UBS, Deutsche Bank Said to Face N.Y. Mortgage Probe | JPMorgan Chase & Co. (JPM) , UBS AG (UBSN) and Deutsche Bank AG (DBK) are being investigated as part of New York Attorney General Eric Schneiderman ’s expanded probe of mortgage securitization, according to a person familiar with the matter. Four bond insurers also were subpoenaed: Ambac Financial Group Inc. (ABKFQ) , ... |
2024-07-16 | Bloomberg | Western U.S. Will Keep Burning Unless Fire Policy Changes | It is only mid-July, and Colorado has already had its most destructive wildfire in history -- some 350 houses in and near Colorado Springs burned, causing more than $110 million in damage. This broke the previous state record, which was set earlier this summer in a fire farther up the Front Range of the Rockies. In May... |
2024-06-30 | Bloomberg | Lloyds Banking Group Says It Plans to Cut 1,850 Jobs Following HBOS Merger | Lloyds Banking Group Plc , the U.K.’s biggest mortgage lender, is cutting about 1,850 jobs in its retail, insurance and administrative units as a result of divisional mergers following the takeover of HBOS Plc. Once contractors, temporary workers, redeployments and relocations of staff are taken into account, there wi... |
2024-10-19 | Bloomberg | EU Rescue Fund Insurance Plan May Not Translate Into Debt Crisis ‘Bazooka’ | The bond-insurance program European Union leaders are considering to boost their bailout fund’s firepower may not prove convincing to investors as a solution to the sovereign debt crisis, analysts and economists said. Even if euro-area leaders agree to leverage the temporary 440 billion-euro ($609 billion) European Fin... |
2024-11-06 | Bloomberg | Lawmakers Spurn Obama Bid to Preserve NSA Data Gathering | The Obama administration is considering steps to quiet the uproar over U.S. spy programs, including curbs on foreign surveillance while allowing the bulk collection of Americans’ phone records to continue. White House officials also are looking at separating the agencies in charge of intelligence gathering and cyberwar... |
2024-07-29 | Bloomberg | Alex Rodriguez Objects to Rangers Bankruptcy Plan | Alex Rodriguez , third baseman for the New York Yankees, objected to the bankruptcy plan of his former baseball team, the Texas Rangers, which owes him $24.9 million in deferred compensation. The plan doesn’t make clear whether Rodriguez’s contract will be assumed by the buyer of the baseball team “with all of his rig... |
2024-03-05 | Bloomberg | New York Agrees to Sell Two Buildings for $249 Million | The city of New York agreed to sell two lower Manhattan buildings for a combined $249 million as part of an effort to reduce government office space and lower operating expenses. The buyers are Peebles Corp., which will pay $160 million for 346 Broadway, and Chetrit Group, which is acquiring 49-51 Chambers St. for $89 ... |
2024-07-17 | Bloomberg | Discovery Jumps to Record on Singapore Deal: Johannesburg Mover | Discovery Ltd. (DSY) , South Africa’s largest medical-insurance provider, rose to a record after saying its wellness-based life-insurance model Vitality started in Singapore through a joint venture with AIA Group Ltd. (1299) The stock jumped 6.6 percent, the most since Sept. 2008, to 92 rand at the close in Johannesbu... |
2024-05-08 | Bloomberg | U.S. Stocks Climb After Dow Tops 15,000 Amid Earnings | U.S. stocks rose, after the Dow Jones Industrial Average (INDU) climbed above 15,000 for the first time yesterday, as earnings forecasts from Whole Foods Market Inc. (WFM) and Electronic Arts Inc. beat analyst estimates. Whole Foods Market and Electronic Arts gained more than 10 percent. J.C. Penney Co. added 7.4 perce... |
2024-12-19 | Bloomberg | KB Financial Dropping ING Bid Leaves Euh’s Promise Unmet | KB Financial Group Inc. dropping its bid for ING Groep NV (INGA) ’s South Korean life-insurance unit leaves Chairman Euh Yoon Dae’s promise to diversify business unfulfilled as banking in the country becomes less profitable. KB Financial’s board rejected a plan to buy the ING unit yesterday, deeming it more important t... |
2024-04-15 | Bloomberg | South Korea’s Imports of Iranian Crude Oil Fall 17% in March | South Korea , the world’s fifth- largest oil importer, reduced crude shipments from Iran by about 17 percent in March from a year earlier, customs data show. Purchases last month were 556,658 metric tons, compared with 668,706 tons a year earlier, according to data on the Korea Customs Service ’s website today. The vol... |
2024-01-08 | Bloomberg | Hong Kong Stocks Drop Third Day Amid Overheating Signals | Hong Kong stocks fell, with the city’s benchmark index retreating for a third day from a 19- month high, as developers and energy companies dropped amid signs the market may be overbought. China Resources Land Ltd. (1109) sank 1.7 percent, the developer’s first decline in two weeks. China Life Insurance Co. fell 1.8 p... |
2024-10-24 | Bloomberg | Kerimov Rebound From Morgan Stanley Meltdown Snags on Potash | Suleiman Kerimov amassed a net worth of $18 billion betting mainly on shares of companies controlled by Vladimir Putin only to gamble away the bulk of that on Morgan Stanley (MS) and other banks during the global financial crisis. Now the 47-year-old native of Dagestan, on Russia’s Caspian seashore, is back in the eye ... |
2024-06-13 | Bloomberg | Small Banks, Big Banks, Giant Differences: Robert G. Wilmers | There are reasons for bankers like me to view these as good times. Bank profits are up and failures have ebbed. Nonetheless, I remain troubled about the state of the financial-services industry. Here’s why: community banks have given way to big banks and excessive industry concentration; profits are increasingly driven... |
2024-10-07 | Bloomberg | Armed Services Counsel to Covington: Business of Law | The U.S. House Armed Services Committee’s former general counsel, Roger Zakheim, is moving in November to Covington & Burling LLP, where he’ll join the global public policy and government affairs and defense, homeland and national security practices. “He is widely respected across the defense industry and both branches... |
2024-12-18 | Bloomberg | CIC Insurance Gains for Third Day From Record Low: Nairobi Mover | CIC Insurance Group Ltd. (CIC) , Kenya’s second-biggest insurer by premiums, rose for a third day, the longest set of gains in seven weeks, as the stock recovered from a record low. The shares advanced 1.5 percent to close at 3.35 shillings in Nairobi, the capital. The stock traded at 3.10 shillings on Dec. 5, its lowe... |
2024-07-14 | Bloomberg | Deutsche Bank Sued by Dexia Over $1 Billion in Mortgage-Backed Securities | Dexia SA (DEXB) , the lender to local governments rescued by France and Belgium in 2008, sued Deutsche Bank AG claiming fraud in connection with more than $1 billion in residential mortgage-backed securities. Germany ’s biggest bank played a “ubiquitous role” in the mortgage origination and securitization process while... |
2024-01-25 | Bloomberg | SEC Asks Federal Judge to Order SIPC Payout Plan for Stanford Investors | The U.S. Securities and Exchange Commission urged a judge to order the federal Securities Investor Protection Corp. to create a claims process for R. Allen Stanford’s alleged investment fraud victims. SEC lawyers asked U.S. District Judge Robert Wilkins during a hearing today in Washington to require SIPC, a nonprofit ... |
2024-10-10 | Bloomberg | ‘Frumpy’ Bookkeeper Accused of Bilking Democrats for Millions | To neighborhood kids, the cream- colored stucco house near Hughes Middle School was known as the site of an annual Halloween party. To neighbors in Long Beach, California , Kinde Durkee’s two-bedroom ranch was notable for its chipped paint and overgrown shrubbery. In Democratic circles, the 58-year-old bookkeeper with ... |
2024-12-05 | Bloomberg | Czech Stocks Advance to Eight-Month High, Led by Komercni Banka | Czech shares rose to the highest in more than eight months, led by Komercni Banka AS (KOMB) and Vienna Insurance Group AG, as an easing of investment rules in China boosted investor demand for financial stocks worldwide. Komercni, a unit of Societe Generale SA, climbed 2 percent to 3,941 koruna by the end of trading in... |
2024-08-03 | Bloomberg | Allianz, Axa Profits Beat Estimates on Life, Health Units | Allianz SE (ALV) and Axa SA, Europe ’s biggest insurers, reported profit that beat analysts’ estimates, helped by higher earnings at their life and health businesses. Net income at Munich-based Allianz rose 23 percent to 1.23 billion euros ($1.5 billion) in the second quarter, beating the 1.15 billion-euro average esti... |
2024-08-12 | Bloomberg | Prudential Jumps to Record as Profit Beats Forecasts on Asia | Prudential Plc (PRU) surged to a record in London trading after the U.K.’s biggest insurer by market value reported first-half profit that beat analyst estimates, buoyed by rising sales in Asia and a jump in U.S. earnings. Operating profit climbed 22 percent to 1.42 billion pounds ($2.2 billion) in the first six months... |
2024-09-21 | Bloomberg | Mumbai Road Builders Ready First Dim Sum Bonds to Cut Costs: India Credit | Indian companies may turn to Hong Kong’s yuan bond market to raise funds at 40 percent the cost of top-rated companies at home after the South Asian nation eased borrowing rules. The government agreed for the first time last week to allow Indian companies raise as much as $1 billion of debt in the Chinese currency, bol... |
2024-11-15 | Bloomberg | Soros Joined Och-Ziff Betting on AIG Before Sandy Struck | Billionaire investor George Soros and Och-Ziff Capital Management Group LLC (OZM) , the hedge-fund firm with $31.8 billion under management, added stakes in American International Group Inc. (AIG) in the third quarter before superstorm Sandy devastated the Eastern U.S. The family office of Soros, 82, disclosed an inves... |
2024-06-28 | Bloomberg | Loews Upgraded by Moody’s on Strength of Insurance, Energy Units | Loews Corp. (L) , the company run by New York’s Tisch family, was upgraded by Moody’s Investors Service on improving finances at its insurance and energy units. The rating was lifted to A2 from A3 on “the strengthening credit profile of its primary operating subsidiaries and the parent company’s stand-alone financial s... |
2024-06-15 | Bloomberg | Osborne Warns on Greek Euro Exit, Suggests Deposit Cover | George Osborne , the U.K. Chancellor of the Exchequer, warned against the dangers of a disorderly Greek exit from the euro area and backed deposit insurance for the currency bloc’s banks. “The worst thing for the world would be a Greek exit without a plan to deal with the contagion, because that would be like letting L... |
2024-04-11 | Bloomberg | Senate’s Hatch Urges Dodd-Frank Delay to Set Global Coordination | Dodd-Frank Act implementation should be delayed by U.S. regulators until concerns over global coordination of new rules can be addressed, Senator Orrin Hatch said in a letter to Treasury Secretary Timothy F. Geithner. Hatch of Utah, the top Republican on the Senate Finance Committee, asked Geithner to provide details o... |
2024-03-17 | Bloomberg | ThyssenKrupp’s Beitz to Blame for Decline, Krupp Nephew Says | ThyssenKrupp AG (TKA) Honorary Chairman Berthold Beitz is the main culprit for the steelmaker’s “decades-long decline,” according to a nephew of the company’s former owner Alfried Krupp von Bohlen und Halbach. Beitz, the 99-year old head of the foundation that holds 25.3 percent of ThyssenKrupp shares, “has failed” to ... |
2024-12-17 | Bloomberg | QR Energy's $300 Million IPO Finishes Week of Nine U.S. Public Offerings | QR Energy LP, the Houston-based company formed to acquire oil and gas properties, raised $300 million in its U.S. initial public offering after selling shares at the middle of its forecast range. QR Energy sold 15 million units at $20 each yesterday after offering them at $19 to $21 apiece, data compiled by Bloomberg s... |
2024-01-25 | Bloomberg | Indian Stocks Advance to Two-Year High; Maruti Jumps on Earnings | Indian (SENSEX) stocks rallied to a two-year high, erasing a weekly loss, as carmakers and lenders increased ahead of the central bank policy meeting next week. The BSE India Sensitive Index, or Sensex, rose 0.9 percent to 20,103.53 at the close. The gauge climbed 0.3 percent this week. Maruti Suzuki India Ltd. (MSIL) ... |
2024-05-03 | Bloomberg | UBS Looks at All Investor Input on Knight Vinke Proposal | UBS AG (UBSN) is always looking at all shareholder suggestions, Chief Executive Officer Sergio Ermotti said, a day after investor Knight Vinke Asset Management LLC called for a spinoff of the lender’s investment bank. “We’re taking the input and suggestions of every shareholder always very carefully,” Ermotti, 52, told... |
2024-10-08 | Bloomberg | Apollo Said to Bid for $6 Billion of Life Policies From KBC | Apollo Global Management LLC , the private-equity firm founded by Leon Black , is bidding on life insurance policies with a combined face value of $6 billion held by Belgian bank KBC Groep NV , according to two people with knowledge of the talks. The firm is seeking $525 million from investors to acquire policies and p... |
2024-04-26 | Bloomberg | Stifel Agrees to Purchase Weisel for $318 Million, Expanding on West Coast | Stifel Financial Corp., the Missouri-based brokerage, agreed to buy Thomas Weisel Partners Group Inc. for about $318 million in stock to expand investment banking. Thomas Weisel investors will get 0.1364 shares of Stifel for every share they own, the companies said in a statement today. The purchase values San Francis... |
2024-01-10 | Bloomberg | Life Insurer Acquisitions ‘Ripe for Acceleration’ | Life insurers may pursue more acquisitions worldwide to add business as capital builds while low bond yields and sluggish economic growth weigh on results. “There seems to be a rising appetite” for deals this year, Sam Friedman, insurance research leader at Deloitte Services LP’s Center for Financial Services, said in ... |
2024-01-31 | Bloomberg | Canadian Stocks Slump Most in Three Months on Materials | Canadian stocks slumped the most in three months as raw-material producers fell amid disappointing earnings and a drop in commodity prices, overshadowing faster- than-estimated expansion in the nation’s economy. Potash Corp. of Saskatchewan Inc ., the world’s largest fertilizer producer, fell 1.9 percent after forecast... |
2024-10-10 | Bloomberg | Keynes and Hayek, the Great Debate (Part 3): Nicholas Wapshott | By the early 1940s, the Keynesian Revolution in America was in full swing. Fast-moving events in Germany obliged Franklin D. Roosevelt to spend on the vast scale that John Maynard Keynes prescribed. Despite the president’s assurances during the 1940 presidential campaign -- “I have said this before, but I shall say it ... |
2024-08-29 | Bloomberg | Bershidsky's View From Europe | Here's today's look at some of the top stories on markets and politics in Europe: Italy abolishes property tax to please Berlusconi. The Italian government canceled payment of the unpopular property tax until the end of 2013, deciding instead to introduce a vaguely defined local "service tax" next year. The decision cr... |
2024-05-08 | Bloomberg | KKR to Goldman Breach Water Deal Dam in U.S.: Commodities | Brandon Freiman was sizing up water investments for KKR & Co. (KKR) ’s $4.6 billion infrastructure fund in 2011 when he came across a debt-burdened New Jersey city that Tony Soprano skirts by to open the Time Warner Inc. HBO series. By December 2012, Bayonne, KKR and the United Water unit of Suez Environnement (SEV) , ... |
2024-10-23 | Bloomberg | Why Obamacare Is Like Three Mile Island | I’ve been blogging a lot over the past week or so about the risk of an insurance market "death spiral" -- where young people stay away, so the only people buying insurance are old and sick, causing the cost of insurance to rise over time and pushing ever more healthy young people out of the market. Adrianna McIntyre sa... |
2024-03-21 | Bloomberg | Buffett Won’t Sell Japan Shares as Earthquake Creates ‘Buying Opportunity’ | Warren Buffett , whose Berkshire Hathaway Inc. (BRK/A) has a bullish derivative bet on Japan’s benchmark stock index, said the country’s record earthquake created a buying opportunity for equity investors. “If I owned Japanese stocks, I would certainly not be selling them because of the events of the past 10 days or so... |
2024-04-11 | Bloomberg | Pimco Total Return Cuts Government-Related to Negative, Boosts Cash Assets | Bill Gross , who runs the world’s biggest bond fund at Pacific Investment Management Co., bet against U.S. government-related debt last month and boosted cash to be the largest of the Total Return Fund’s holdings. Pimco’s $236 billion fund had minus 3 percent of its assets in government and related debt, after reducing... |
2024-08-16 | Bloomberg | Hanwha Chairman Gets Four Years in Jail for Embezzlement | Hanwha Group Chairman Kim Seung Youn was sentenced to four years in jail and fined 5.1 billion won ($4.5 million) for embezzlement amid a presidential election campaign that’s increasing scrutiny of South Korean executives. A three-judge panel in the Seoul Western District Court found that Kim used funds from the natio... |
2024-09-30 | Bloomberg | Chronic Bubble Phobia Has German Investors Shunning Stocks, Playing Safe | At 79, Karl-Friedrich Markwort is old enough to remember the postwar economic collapse that left German currency and equities all but worthless. So it might not seem surprising that Markwort, a retiree in the Frankfurt suburb of Bad Soden, steers clear of stocks. He was lured into the market once, during the 1990s Inte... |
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