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2024-02-20 | Bloomberg | Europe Bank Stocks May Rally 18%: Technical Analysis | The Stoxx 600 Banks Index , a measure of shares in European lenders, may rally as much as 18 percent in the next three months if it can breach its highest level this year, according to a technical analyst at Natixis SA. The gauge may extend its advance to a first resistance level of 194.34 in the next two months if it ... |
2024-08-06 | Bloomberg | Rubber Set for Best Weekly Gain Since June on Improved Auto Demand Outlook | Rubber advanced for a second day, heading for the biggest weekly rise since June, amid speculation that demand for the commodity used in tires may grow after automakers raised their earnings outlook. Futures in Tokyo climbed as much as 0.7 percent to 282.6 yen a kilogram ($3,282 a metric ton) after reaching a five-wee... |
2024-07-15 | Bloomberg | Canada Existing Home Sales Down 8.2% in June, Real Estate Association Says | Canadian existing home sales fell 8.2 percent in June from May on a seasonally adjusted basis as the country’s housing market continues to cool, according to a release from the Canadian Real Estate Association. The number of homes sold dropped to 33,959 units, from 37,005 units in May, CREA said in the release from Ot... |
2024-02-16 | Bloomberg | Oil Rises to Six-Week High on Greece Optimism, Drop in U.S. Jobless Claims | Oil advanced to a six-week high on optimism that Greece will get a second bailout and as U.S. jobless claims dropped to the lowest level since 2008. Futures rose 0.5 percent after Pantelis Kapsis, a government spokesman, said Greece expects euro area finance ministers to approve a deal at a meeting on Feb. 20. Applicat... |
2024-08-28 | Bloomberg | New China Life Falls as Profit Misses Estimates: Hong Kong Mover | New China Life Insurance Co. (1336) , the nation’s third-largest life insurer by premium income last year, fell by the most in more than a month in Hong Kong trading after first-half profit missed analyst estimates. The stock dropped as much as 3.8 percent, the most since July 12, and traded 3.1 percent lower at HK$20.... |
2024-08-03 | Bloomberg | Herbert Smith, Proskauer, Ropes & Gray: Business of Law | Herbert Smith LLP hired a team of six commercial litigation partners from Chadbourne & Parke LLP, five of whom will open a New York office in September, the firm’s first in the U.S. Thomas Riley, Chadbourne’s former litigation head, Gregory Loss, Chadbourne’s former products liability counseling and defense practice gr... |
2024-07-28 | Bloomberg | St James’s Place’s First-Half Profit Rises 68% on New Funds | St. James’s Place Plc, the wealth manager majority-owned by Lloyds Banking Group Plc, said first- half profit climbed 68 percent as it attracted new funds. Net income rose to 47.6 million pounds ($77.8 million) in the six months to June 30, compared with 28.4 million pounds a year earlier, the Cirencester, England-base... |
2024-05-22 | Bloomberg | Kasowitz Benson, Eversheds, Latham: Business of Law | Kasowitz, Benson, Torres & Friedman LLP hired insurance recovery litigators Jerold Oshinsky and Linda Kornfeld from Jenner & Block LLP as partners to open the firm’s Los Angeles office. Oshinsky was Jenner’s co-chairman of the insurance litigation and counseling practice. Kornfeld will head Kasowitz’s Los Angeles offic... |
2024-12-09 | Bloomberg | Municipal Debt Held by U.S. Households Shows First Decline in Two Years | U.S. households’ municipal-debt holdings fell a half percent in the third quarter, the first decline in two years, as the recovering economy boosted the allure of stocks. State and local government debt owned by households, the largest investor group, fell $5.7 billion to $1.06 trillion in the three months ended Sept. ... |
2024-06-09 | Bloomberg | U.S. Jobless Claims Unexpectedly Climb | U.S. initial jobless claims unexpectedly rose last week, a sign that the labor market is struggling to gain traction. Jobless claims increased by 1,000 to 427,000 in the week ended June 4, Labor Department figures showed today in Washington. Economists surveyed by Bloomberg News projected a drop in claims to 419,000, a... |
2024-02-15 | Bloomberg | Geithner Says Republicans Walked Away From U.S. Tax Overhaul | The Obama administration isn’t proposing a comprehensive rewrite of the U.S. tax code because Republicans in Congress aren’t ready to discuss it, Treasury Secretary Timothy F. Geithner said. A necessary, inevitable tax overhaul can’t be achieved because discussions with Republicans last year on deficit reduction proved... |
2024-11-27 | Bloomberg | Gazprom Revives German Power Plan for Nord Stream Gas | OAO Gazprom (OGZD) , the world’s biggest natural-gas producer, is reviving plans to build a power plant in Germany to boost sales to its biggest export market via the Nord Stream pipeline and develop European generation. The northeastern German state where the pipeline comes ashore from the Baltic Sea is lobbying to bu... |
2024-12-21 | Bloomberg | BlackRock Sees Distortions in Country Ratings Seeking Revamp | Credit rating companies are distorting capital markets by assigning the same debt ranking to countries from Italy to Thailand and Kazakhstan, according to BlackRock Inc. (BLK) , the world’s biggest money manager. While 23 countries share the BBB+ to BBB- levels assessed by Standard & Poor’s, the lowest investment grade... |
2024-02-04 | Bloomberg | CSR, New China Life Insurance, Gazprombank: China New Bond Alert | CSR Corp., New China Life Insurance Co., Chinatex Corp. and OAO Gazprombank are among issuers that may sell bonds in the nation’s debt markets. Domestic Bonds CSR CORP.: The company may sell as much as 5 billion yuan ($803 million) of medium-term notes after the board approved a plan to sell debt with maturities of fiv... |
2024-07-23 | Bloomberg | HSBC Trinkaus Considering Acquisitions, Euro am Sonntag Reports | HSBC Trinkaus & Burkhardt AG (TUB) may make acquisitions to grow its private wealth management business in Germany, Euro am Sonntag reported, citing an interview with board member Olaf Huth. The bank, majority-owned by HSBC Holdings Plc (HSBA) , is above a plan to increase private-wealth customer funds under management... |
2024-09-10 | Bloomberg | Romney: Democrats Are More Patriotic Than Republicans | Mitt Romney seems to have an extraordinarily high opinion of congressional Democrats. In his much-anticipated appearance on "Meet the Press" yesterday, Romney made news by saying he supports retaining parts of Obamacare, especially a ban on pre-existing conditions. His campaign subsequently made clear that his position... |
2024-01-17 | Bloomberg | MFP’s Price Says He Wouldn’t Buy Goldman Sachs Shares | MFP Investors LLC’s Michael Price said he wouldn’t add to his holdings in Goldman Sachs Group Inc. (GS) at the current price because the fifth-largest U.S. bank by assets is trading at fair value. “I don’t buy it here,” Price, said in a “Bloomberg Surveillance” television interview with Tom Keene and Sara Eisen today. ... |
2024-03-28 | Bloomberg | China Stocks Fall Most in Three Weeks as Financial Shares Slump | China stocks fell, dragging the CSI 300 Index (SHSZ300) down the most in three weeks, as banks tumbled on concern new wealth-management product rules will hurt earnings and as the government signaled more flexible interest rates. Industrial Bank Co. lost 9.2 percent, while China Minsheng Banking Corp. declined 7.6 perc... |
2024-10-28 | Bloomberg | MetLife Swings to Profit on Derivatives, Misses Estimates | MetLife Inc. , the biggest U.S. life insurer, swung to a profit in the third quarter as the company’s derivative losses narrowed. The stock declined in late trading as results fell short of analysts’ estimates. Net income in the three months ended Sept. 30 was $316 million, or 32 cents a share, compared with a loss of ... |
2024-10-21 | Bloomberg | Cheung Kong, PetroChina, Posco, Sun Hung Kai: Asia Stock Preview | The following companies may have unusual price changes in Japanese trading on Oct. 24. Stock symbols are in parentheses, and share prices are as of the last close. The information in each item was released after markets shut unless stated otherwise. Hong Kong developers: Home prices in the city fell 0.56 percent in the... |
2024-05-17 | Bloomberg | Junk-Debt ETFs Set Markets ‘Abuzz’ After Record Trades | The largest trades on record in shares of two exchange-traded funds that invest in junk debt are attracting attention to the four-year-old market that allows anyone from banks to retirees fast and discreet access to speculative-grade bonds and loans. The transactions were completed hours before JPMorgan Chase & Co. dis... |
2024-10-05 | Bloomberg | Tesco Says Bank Delays to Hurt Profit Amid Weaker U.K. Sales | Tesco Plc (TSCO) , the U.K.’s largest supermarket chain, said delays to banking products will reduce profit by 40 million pounds ($61 million) this year, adding to the grocer’s struggle to revive growth in its domestic market. The retailer is deferring the introduction of mortgages until 2012 and slowing a switchover t... |
2024-03-22 | Bloomberg | FSA to Focus on Implementing EU Rules in 2011, Limit Hires | The U.K. Financial Services Authority will focus on implementing international financial rules for banks and insurers this year and will forgo hiring additional staff. The financial watchdog targeted European insurance rules and Basel III, an international accord on bank capital, as “the two biggest policy initiatives,... |
2024-04-07 | Bloomberg | Sokol Joins Brandon Winning Buffett’s Praise in Berkshire ‘Head Scratcher’ | David Sokol , who left Berkshire Hathaway Inc. (BRK/A) after investing in a buyout target, joins departed manager Joseph Brandon in winning praise from Warren Buffett after actions that brought scrutiny to a firm where executives stress the importance of reputation. Sokol’s contributions to Berkshire were “extraordinar... |
2024-07-12 | Bloomberg | China’s Stocks Slump on Europe Debt Crisis, Property Curbs | China ’s stocks fell, driving down the benchmark index by the most in almost two weeks, on concerns Greece ’s debt crisis may spread to bigger economies in Europe and the Chinese government is intensifying property curbs. Jiangxi Copper Co. and China Shenhua Energy Co., the nation’s biggest producers of copper and coal... |
2024-11-24 | Bloomberg | Zuckerberg Says U.S. ‘Really Blew It’ on Surveillance | The U.S. government “really blew it” on conducting surveillance programs that riled foreign leaders and domestic skeptics, Facebook Inc. (FB) Chief Executive Officer Mark Zuckerberg said in a television interview. “They’re continuing to blow it in some ways and I hope they become more transparent,” Zuckerberg, 29, said... |
2024-02-03 | Bloomberg | Deutsche Bank Investment Banking Profit Rises on Trading Revenue | Deutsche Bank AG , Germany ’s biggest bank, said higher revenue from fixed-income and equities trading lifted fourth-quarter earnings at its investment bank. Pretax profit at the division rose to 625 million euros ($862 million) from 398 million euros in the year-earlier period, according to a statement today. Revenue ... |
2024-07-12 | Bloomberg | European Unity Project Mustn’t Be Abandoned, Soros Writes in FT | The European status quo has become untenable, yet it should still be possible to mobilize a “silent majority” in favour of further advance toward a united Europe, said George Soros , the billionaire investor. Writing in the Financial Times, Soros said the euro was from the start an incomplete currency, in the sense tha... |
2024-02-13 | Bloomberg | Assadism Without Assad Could Prevent Sectarian Mayhem: Vali Nasr | Syria has arrived at a tipping point. After months in which the regime of President Bashar al- Assad clearly held the dominant hand, the forces arrayed against him have now multiplied to the point where a serious battle is possible. The resistance increasingly is armed and taking on the regime, even controlling towns a... |
2024-12-18 | Bloomberg | UBS Capital Strategy Converges With Credit Suisse in Fortress Switzerland | UBS AG (UBSN) and Credit Suisse Group AG (CSGN) , Switzerland’s largest banks, are finding that the advantages of Europe’s toughest capital requirements are helping offset the costs as the region’s sovereign-debt crisis escalates. The two lenders shrank their balance sheets the most among Europe’s 15 biggest banks sinc... |
2024-10-11 | Bloomberg | Gold Rises to Record Closing Price on Speculation Dollar to Resume Slump | Gold futures rose to a record closing price on bets that the dollar will resume a slump, boosting demand for precious metals as an alternative investment. Silver extended a rally to the highest level since 1980. The greenback traded close to a a 15-year low against the yen on speculation that the Federal Reserve will e... |
2024-03-19 | Bloomberg | Greece Auction to Settle $3.2 Billion of Credit-Default Swaps | Credit-default swaps dealers will hold an auction today to settle as much as $3.2 billion of Greek bond insurance triggered by the nation’s debt restructuring. The auction will be held under the rules of the International Swaps & Derivatives Association and will determine the amount that sellers of protection must pay ... |
2024-06-25 | Bloomberg | Liechtenstein to Focus on Asset Management, Asia, Regulator Says | Liechtenstein banks should focus on asset management and attracting inflows from wealthy Asian clients to rebuild their business, according to the head of the Alpine country’s financial regulator. “To get earnings back to where they used to be we need to implement new business ideas,” Financial Market Authority Chief E... |
2024-12-07 | Bloomberg | Try Meditation to Strengthen Your Resilience | I was having one of those days — maybe you're familiar with them? — when I felt like a passenger on a fast, jerky subway train, holding the handrail tight just to stay standing, each turn throwing me off balance. I gave a presentation that received a standing ovation and left the stage on top of the world. Then I read ... |
2024-04-02 | Bloomberg | VIG, Erste Group Tumble, Lead Czech Shares Toward Two-Month Low | Vienna Insurance Group AV (VIG) and Erste Group Bank AG (RBAG) led a drop in Czech shares as euro-area manufacturing contracted an eighth month and unemployment rose to the highest in more than 14 years. VIG fell 2.4 percent to 799 koruna by 12:38 p.m. in Prague and Erste retreated 0.8 percent to 423.5 koruna. The 14-m... |
2024-12-13 | Bloomberg | Swiss Fund Moves, Swaps Rule Testimony, GDF: Compliance | Swiss hedge fund managers are considering relocating to neighboring Liechtenstein to sidestep tougher regulations being introduced in Switzerland and gain access to the European Union, PricewaterhouseCoopers LLP said. About 47 percent of 92 firms surveyed, including managers of hedge funds, private equity and real esta... |
2024-03-28 | Bloomberg | European Insurer in Talks to Buy IDB’s Clal Stake, Globes Says | IDB Holding Corp. is in talks to sell its stake in Clal Insurance Enterprise Holdings Ltd. (CLIS) to a European insurance company, the Globes reported. The price could reach $2.1 billion compared with a $1.9 billion company value being negotiated with Permira Funds LLC, the financial newspaper reported, without saying ... |
2024-08-06 | Bloomberg | NYC’s Good Times May Sour Like Detroit’s, Bloomberg Warns | New York Mayor Michael Bloomberg invoked Detroit ’s bankruptcy to recall the most populous U.S. city’s own brush with insolvency and warn its residents that they shouldn’t take the current fiscal well-being for granted. Bloomberg, 71, said his 12 years in office helped generate a “virtuous circle” in which spending on ... |
2024-12-31 | Bloomberg | Possible U.S. Budget Deal Would Extend Tax Cuts | The White House and congressional negotiators agreed to contours of a budget deal including tax cut extensions, with the remaining sticking point being how to avert automatic federal spending cuts, said an official familiar with the talks. The official described the proposed framework as the White House announced Presi... |
2024-10-19 | Bloomberg | U.S. Consumer Prices for Health Insurance in September | The following table shows the consumer price index for health insurance from the Bureau of Labor Statistics. To contact the reporter on this story: Chris Middleton in Washington at cmiddleton2@bloomberg.net To contact the editor responsible for this story: Marco Babic at mbabic@bloomberg.net |
2024-01-23 | Bloomberg | How to Repair a Badly Damaged Portfolio | The recent recession battered Americans’ investment portfolios, hurt their home values and cut into their incomes. Some unlucky people suffered severely from all three. Bloomberg.com asked leading financial advisers how they'd handle a client hit by such severe setbacks. We constructed a fictional, but realistic, scena... |
2024-09-29 | Bloomberg | Government Shutdown 1 Day Away as Deal Evades Lawmakers | Congress is leaving itself just one day tomorrow to end a budget stalemate that raises the risk of the first government shutdown in 17 years as Republicans sought to shift blame for the gridlock to Democrats. The Senate will reconvene tomorrow afternoon, when it will reject a House plan passed early today to delay and ... |
2024-11-22 | Bloomberg | Baum on Money: Virtual Interest Rate | Happy Friday. Before you check out for the weekend, check in for my daily reads. Enjoy. The shadow knows First there was a virtual currency, the Bitcoin. Now there's a virtual funds rate, which economists have labeled the shadow rate. Nothing nefarious, as the Atlanta Fed's Macroblog explains. With the funds rate near ... |
2024-06-07 | Bloomberg | Apple, Merck, Syms, Haka, Nortel: Intellectual Property | Apple Inc. (AAPL) filed an enforcement action at the U.S. International Trade Commission in Washington, seeking an emergency order that would block imports of HTC Corp.’s (2498) newest phones and tablet computers. HTC had been ordered by the commission to remove a function patented by Apple for data-detection technolog... |
2024-08-23 | Bloomberg | Asian Stocks Advance on U.S., China Stimulus Speculation | Asian stocks advanced, with the region’s benchmark index set for its highest close since May, on speculation central banks in the U.S. and China will ease monetary policy amid signs growth is slowing. Jiangxi Copper Co. (358) , the mainland’s biggest producer of the metal, climbed 3.6 percent in Hong Kong after the Peo... |
2024-09-30 | Bloomberg | Cuomo Hurdles Voters in $1 Billion Sale: Muni Credit | (Corrects to show sales-tax bonds count against the debt cap in sixth paragraph. For more credit-market news, click on TOP CM. For Municipal Credit Markets column alerts, see SALT MUNCREDIT.) Governor Andrew Cuomo plans to sell $1 billion in bonds backed by sales taxes for the first time in 18 years as New York debt ou... |
2024-04-28 | Bloomberg | Dewey Said to Be Subject of Probe as Deadline Nears | Dewey & Leboeuf LLP, the New York law firm fighting to stay alive after more than 70 partners left, is the subject of a criminal probe by state prosecutors related to whether managers misled partners about payments due them, a person familiar with the matter said. Manhattan District Attorney Cyrus Vance Jr.’s investiga... |
2024-12-17 | Bloomberg | Allianz Pays $12.3 Million to Settle Indonesia Bribe Claim | Allianz SE (ALV) will pay more than $12.3 million to settle U.S. Securities and Exchange Commission claims that the Munich-based insurer made improper payments to government officials in Indonesia during a seven-year period. SEC investigators found that Allianz violated the Foreign Corrupt Practices Act in 295 insuranc... |
2024-11-24 | Bloomberg | Default Swaps Soar on `Sacrosanct' Senior Europe Bank Debt: Credit Markets | The cost of protecting against defaults on senior notes of European banks is soaring on speculation bondholders will be forced to take losses as governments try to share the burden of taxpayer-funded bailouts. The Markit iTraxx Financial Index of credit-default swaps on senior debt rose 6.5 basis points, or 0.065 perce... |
2024-06-28 | Bloomberg | British Financial Firms' Business Volumes Are Increasing, CBI Survey Says | Almost two thirds of financial services companies in the U.K. anticipate a rise in transaction volumes for the coming quarter, the most positive result since December 1993, according to a survey by the Confederation of British Industry and PricewaterhouseCoopers LLP. Approximately 63 percent of those surveyed said the... |
2024-01-19 | Bloomberg | Stock-Index Futures Maintain Gains as Initial Unemployment Claims Decrease | U.S. stock-index futures maintained gains after government data showed jobless claims decreased last week to the lowest level in almost four years. Futures on the Standard & Poor’s 500 Index expiring in March rose 0.4 percent to 1,306.9 at 8:32 a.m. in New York. Jobless claims plunged by 50,000 to 352,000 in the week ... |
2024-02-25 | Bloomberg | U.S. Stocks Fall Most Since November on Italian Elections | U.S. stocks fell, giving benchmark indexes their biggest losses since November, as partial election results spurred concern about prospects for a stable government in Italy and a worsening of Europe ’s debt crisis. Lowe’s Cos. tumbled after forecasting profit this year that trailed analysts’ estimates amid sales to cle... |
2024-12-08 | Bloomberg | Dart, DMCI, Eton, Hanjin, Mandiri, ZTE Corp.: Asia Ex-Japan Equity Preview | The following companies may have unusual price changes today in Asian trading , excluding Japan. Stock symbols are in parentheses, and share prices are from the previous close, unless noted otherwise. Australia & New Zealand Banking Group Ltd. (ANZ AU): Australia’s third-largest bank by market value said lending profit... |
2024-04-03 | Bloomberg | Obamacare `Repeal and Replace' Still Light on `Replace' | Yuval Levin and Bloomberg View columnist Ramesh Ponnuru argue in the cover story of the current National Review that “repeal and replace” should remain the conservative mantra on the Patient Protection and Affordable Care Act. The law is so unworkable, they say, that it can’t be molded into something workable; conserva... |
2024-08-27 | Bloomberg | Zurich Insurance’s Wauthier Committed Suicide, Police Say | Pierre Wauthier, chief financial officer of Zurich Insurance Group AG (ZURN) , probably committed suicide at his home, according to police. He was 53. An autopsy to determine the cause of death “clearly pointed to a suicide,” Marcel Schlatter, a police spokesman for the canton of Zug, Switzerland, where Wauthier lived ... |
2024-02-14 | Bloomberg | Cameron to Meet U.K. Insurers to Discuss Rising Car Premiums | U.K. Prime Minister David Cameron will meet representatives of insurance companies today to discuss ways to reduce the number of lawsuits, with the goal of cutting car premiums. The average cost of insuring a car rose 17 percent last year to 410 pounds ($650), according to Cameron’s office. The average premium for a yo... |
2024-03-15 | Bloomberg | U.S. Corporate Credit Swaps Hold; Jefferies Finance to Sell Debt | A gauge of U.S. corporate credit risk held as data showed U.S. industrial production rose in February while consumer confidence slumped this month, signaling the economic recovery may be uneven. The Markit CDX North American Investment Grade Index, a credit-default swaps benchmark that investors use to hedge against lo... |
2024-05-25 | Bloomberg | Shearman, Dewey, Allen & Overy, Drinker: Business of Law | Dow Chemical Co., the largest U.S. chemical maker by sales, said an arbitration panel ruled Kuwait must pay $2.16 billion in damages because it canceled a 2008 agreement to buy a stake in the company’s plastics business. Law firm Shearman & Sterling LLP represented Dow in the arbitration. The firm’s team was led by int... |
2024-03-15 | Bloomberg | Clinton Announces $2 Billion of New Egypt Aid in Cairo | U.S. Secretary of State Hillary Clinton announced a $2 billion aid package for Egypt to bolster its economy while the nation considers new government structures following the ouster of former President Hosni Mubarak’s regime. “The Egyptian people have made clear that their country’s economy must provide opportunities f... |
2024-02-11 | Bloomberg | Treasuries Head for Second Weekly Loss Before Consumer Confidence Report | Treasuries headed for a second weekly decline, making them the biggest losers among the world’s largest bond markets this month, on speculation an industry report today will show consumer confidence is rising. U.S. government securities maturing in more than a year have handed investors a 1.5 percent loss this month, t... |
2024-12-18 | Bloomberg | Credit Suisse Said to Cut Dubai Investment Banking Business | Credit Suisse Group AG (CSGN) , whose second-largest shareholder is the Qatar Investment Authority, is cutting its investment banking business in Dubai to focus on Qatar and Saudi Arabia , a person familiar with the matter said. Two bankers will move to Doha from Dubai as part of plans to shift the regional investment ... |
2024-11-02 | Bloomberg | Diamond Bank Plans to Sell All Non-Banking Units, Comply With Revised Rule | Diamond Bank Plc , a Nigerian lender, said it will sell all of its non-banking units to comply with revised central bank rules that don’t allow the institutions to offer multiple services. “We have taken a decision to divest from all the non- banking subsidiaries in line with the new banking model,” the Lagos-based com... |
2024-08-30 | Bloomberg | Royal Bank Joins CIBC in Raising Dividends as Profits Increase | Royal Bank of Canada and Canadian Imperial Bank of Commerce raised their dividends after reporting third-quarter profits that beat analysts’ estimates. Royal Bank, the country’s biggest lender, said profit for the period ended July 31 rose 73 percent to C$2.24 billion ($2.26 billion), or C$1.47 a share, from C$1.29 bil... |
2024-04-04 | Bloomberg | Treasuries Advance as Fed's Lockhart Cites Headwinds to Economic Recovery | Treasuries rose for a second day as Federal Reserve Bank of Atlanta President Dennis Lockhart said the U.S. recovery faces headwinds, reducing speculation the central bank will cut its $600 billion debt-buying program. U.S. six-month bill rates fell today to a record low amid a scarcity of short-term debt. Two-year not... |
2024-06-11 | Bloomberg | China Bond Market Ready for Takeoff After Bold Moves | China is the opposite of other major economies when it comes to companies’ ability to raise money by issuing bonds. China’s 4.2 trillion yuan ($666 billion) corporate bond market is just 9 percent of its gross domestic product. In the U.S., the $7.9 trillion in fixed-income securities is equal to more than half the siz... |
2024-01-18 | Bloomberg | U.K. FCA Will Adapt Rules Using Consumer-Behavior Data | The U.K. financial regulator is in talks with a banking association to limit how long consumers have to file payment-protection insurance claims, for which banks have reserved more than 9 billion pounds ($14.3 billion). The U.K. Financial Services Authority will consult with the public before changing its rules on PPI ... |
2024-05-13 | Bloomberg | Beverly Hills Lures Wealthy Investors Seeking Trophy Apartments | Beverly Hills, the California enclave known for its celebrity residents and Rodeo Drive boutiques, is luring wealthy individuals seeking real estate investments, driving up prices for trophy apartment buildings in the city. A 24-unit multifamily complex, located one block from the Four Seasons Hotel Los Angeles at Beve... |
2024-02-28 | Bloomberg | Americans’ Sentiment Improves Along With Job Market: Economy | Americans’ confidence advanced last week to the highest level this year and jobless claims dropped more than forecast, pointing to a brighter outlook for an economy that stumbled at the end of 2012. The Bloomberg Consumer Comfort Index rose to minus 32.8 in the week ended Feb. 24 from minus 33.4 as the share of America... |
2024-03-27 | Bloomberg | Cyprus Capital Controls First in EU Could Last Years | Cyprus is on the verge of an unprecedented financial experiment: imposing controls on money transfers in an economy that doesn’t have its own currency. Countries from Argentina to Iceland have used similar measures in the past to defend against devaluation. Being part of the euro zone may make it harder for the Mediter... |
2024-12-22 | Bloomberg | Banks Best Basel as Global Regulators Dilute or Postpone New Capital Rules | More than 500 representatives from 27 nations, including top regulators and central bankers, met dozens of times this year to hammer out 440 pages of new rules to govern the world’s banks. What’s not in the documents published by the Basel Committee on Banking Supervision, and the escape hatches that are, may have more... |
2024-07-13 | Bloomberg | U.K. Has EU States' Support to Host Bank Authority in London, Osborne Says | U.K. Chancellor of the Exchequer George Osborne said Britain has support from other European Union nations to base a proposed European banking supervisor in London, rather than Frankfurt. The “key U.K. requirements” for the European Banking Authority include situating it in London “rather than moving it to Frankfurt,”... |
2024-07-15 | Bloomberg | ‘Tabloid Twins’ Weiner, Spitzer Lead in NYC Democrat Poll | Anthony Weiner and Eliot Spitzer , who both resigned elective offices amid sex scandals, lead the Democratic Party ’s nominating campaigns for New York mayor and city comptroller, a Quinnipiac University poll shows. Weiner, 48, who quit as a congressman in 2011 after posting lewd photos of himself on the Internet, rece... |
2024-07-05 | Bloomberg | India Said to Pay in Euros for Iran Oil Due to Rupee Hurdles | India is using euros to clear most of its purchases of Iranian oil through a Turkish bank because of hurdles in making rupee payments, according to three people with knowledge of the transactions. While some payments have been made in rupees, they are more difficult after India barred Tehran-based Parsian Bank from ope... |
2024-07-03 | Bloomberg | Mining Bankers Depart as Casimir Shifts Focus to Energy | Casimir Capital Ltd. employees will acquire 75 percent of the closely held investment bank and focus on the oil and natural gas sector while cutting positions in its mining group. “The top producers at Casimir Canada have orchestrated a partnership buy-in,” Managing Director of Investment Banking Adam Thomas, who will ... |
2024-10-06 | Bloomberg | South African Equities Rise for Third Day; Absa, Anglo American, BHP Move | South Africa’s FTSE/JSE Africa All Share Index rose for a third day, advancing 128.94, or 0.4 percent, to 29,697.98 at the 5 p.m. close in Johannesburg. The following were among the most active stocks in the South African market today. Absa Group Ltd. (ASA SJ), the bank controlled by Barclays Plc, gained for a second d... |
2024-03-26 | Bloomberg | Cyprus Bailout Signaling Devaluation of Subordinated Debt Swaps | Senior bank debt is being priced as the riskiest relative to junior bonds in almost six months as Cypriot plans to impose losses on higher-ranking investors roils credit markets. Senior and subordinated measures of the Markit iTraxx Financial Index of credit-default swaps on 25 European banks and insurers have both inc... |
2024-02-11 | Bloomberg | Farmers Seen Growing More, Earning Less as Drought Eases | Farm income may fall this year even as the worst U.S. drought since the 1930s eases, economists say. The government’s first farm-income forecast for 2013 today may show crop revenues down from last year as increased production drives prices lower, said Pat Westhoff , director of the Food and Agricultural Policy Researc... |
2024-04-15 | Bloomberg | Ignore Long-Term Forecasts Assuming No Medicare Fix | How much should you worry about the level of federal government debt in 2075? The Congressional Budget Office forecasts deficits and debts out that far, and the numbers are eye-popping. According to the CBO, total debt is on a trajectory to reach 700 percent of gross domestic product. The implication, of course, is tha... |
2024-10-10 | Bloomberg | Silver-Laden WWI Shipwreck Found by Salvager | Odyssey Marine Exploration Inc. (OMEX) , which last month located a sunken World War II cargo ship laden with silver, said it discovered a shipwreck from World War I that may also contain a consignment of the precious metal. The SS Mantola, a British vessel sunk by a German submarine on Feb. 9, 1917, was located about ... |
2024-02-09 | Bloomberg | PepsiCo Unions Seek NLRB Help to Combat Company’s $50 Tax on Fat, Smoking | Teamster union members at PepsiCo (PEP) Inc. in upstate New York are seeking National Labor Relations Board help to fight the company’s health-care policy that charges employees $50 a month when they smoke or have medical issues that may trigger weight gain. Three International Brotherhood of Teamsters locals, represen... |
2024-03-04 | Bloomberg | Record Food Prices May Persist as Economic Growth Boosts Demand, IMF Says | Record worldwide food prices may remain high because the output response needed to ease supply concerns may take years, the International Monetary Fund said. Increasing incomes in developing countries have boosted demand for meat and dairy, requiring more grain for livestock feed and land for grazing animals, Thomas He... |
2024-07-04 | Bloomberg | Taiwan Jobs Sucked to China by Failure to Mimic Singapore Economic Model | A decade ago, Wu Wen-nan earned $726 a month at a Taiwan factory run by Foxconn Technology Group, maker of Apple Inc.’s iPhones and iPads. Today, he peddles magazines and takes handouts from a charity. “I lost my job after the company moved production lines to China,” said Wu, 47, as he sold copies of “Big Issue” magaz... |
2024-05-13 | Bloomberg | Dodd-Frank Consumer Bureau Changes Approved by U.S. House Panel | Republicans on the House Financial Services Committee advanced three bills today to reshape the Consumer Financial Protection Bureau, turning the tables on Democrats who approved the agency in party-line votes last year. Lawmakers led by Representative Spencer Bachus , the Alabama Republican who leads the panel, are pu... |
2024-12-01 | Bloomberg | FHA Insurance Fund May Need Fannie-like Bailout, Hensarling Says | The Federal Housing Administration , which backs about a third of U.S. home loans, could require billions of dollars in taxpayer aid if the housing market continues to deteriorate, a Republican lawmaker said. The agency, which provides liquidity by protecting lenders against borrower defaults, could follow in the foots... |
2024-03-10 | Bloomberg | Wisconsin Assembly Sends Union Bill to Governor Amid Protests | The Wisconsin Assembly voted to give final passage to a bill curbing collective bargaining for most government workers that was stalled for weeks when Democratic senators fled to Illinois to prevent a quorum. The measure, which exempts police and firemen, limits bargaining to wages, not benefits or working conditions. ... |
2024-02-11 | Bloomberg | Court Dismisses Larry Hagman's Ruling Over Citigroup | Citigroup Inc ., the third-largest U.S. bank by assets, won’t have to pay almost $12 million in damages in a case involving actor Larry Hagman after a California court dismissed an arbitration ruling. Judge Michelle R. Rosenblatt in Los Angeles on Feb. 9 vacated the Financial Industry Regulatory Authority arbitration b... |
2024-09-07 | Bloomberg | Protest Not Policy in India Parliament as Coal Fuels Logjam | India ’s parliament session ended today with deadlock between the government and opposition over coal contracts unresolved and Prime Minister Manmohan Singh ’s legislative agenda in tatters. The monthlong sitting passed just four of 30 bills lined up for approval by the Congress party-led administration, making it the ... |
2024-05-06 | Bloomberg | Unemployment Benefit Cut Adds to Drag on U.S. Spending: Economy | Dentral Smith had to say no when her granddaughter asked for a treat on the way home from school. The government’s cut in unemployment payments leaves her with less spending money. “It was a setback,” said Smith, a 45-year-old Philadelphian who has been out of work since November. “My granddaughter, she said ‘Nanna, yo... |
2024-03-30 | Bloomberg | SEC Votes to Seek Comment on Dodd-Frank Risk-Retention Rule | The U.S. Securities and Exchange Commission voted to seek comment on a Dodd-Frank Act measure that would require lenders and bond issuers to keep a 5 percent stake in loans they package for sale to investors. The proposal, part of a joint rulemaking with five other federal regulators, was approved by SEC commissioners ... |
2024-04-29 | Bloomberg | Don’t Buy the Slippery-Slope Argument on Guns | In 1991, the economist Albert Hirschman published a biting, funny and subversive book, “The Rhetoric of Reaction,” whose principal goal was to provide a kind of reader’s guide to conservative objections to social reform. Hirschman wanted to demonstrate that such objections are pervasive, mechanical, routinized and ofte... |
2024-07-02 | Bloomberg | Solvency II Needs to Reflect European Bond Risks, Pimco Says | New rules for insurers in Europe need to better reflect risks of holding European government bonds , according to Pacific Investment Management Co., which manages the world’s largest bond fund. “We expect that the Solvency II rule, under which all government bonds within the European Economic Area are regarded as risk-... |
2024-09-21 | Bloomberg | Principal Bets on Commercial Property as Bond Yields Fall | Principal Financial Group Inc. (PFG) , the seller of life insurance and retirement products, said it’s turning to real estate to increase investment income as near record-low yields pressure returns from bonds. “The debt market is very strong, the equity market is growing” in commercial property, Chief Investment Offic... |
2024-06-27 | Bloomberg | Payroll Tax Cut Heads for Lapse as Lawmakers Doubt Policy | Four months after reaching a bipartisan agreement to extend a payroll tax cut through 2012, U.S. lawmakers and President Barack Obama are showing little fervor for continuing the break, which puts about $1,000 a year in an average worker’s pocket. House Republicans don’t plan to include it in a bill they want to pass n... |
2024-02-26 | Bloomberg | Gold’s Cycle Seen Turned by Goldman Sachs as ETP Holdings Drop | The cycle for gold prices, which climbed for 12 straight years, has probably turned as the recovery in the U.S. economy gathers momentum and investment holdings collapse, according to Goldman Sachs Group Inc., which reduced forecasts for the metal. The bank cut its three-month target to $1,615 an ounce from $1,825 and ... |
2024-06-18 | Bloomberg | Banco Santander Is Said to Bid $2.5 Billion for 300 RBS Branches in U.K. | Banco Santander SA , Spain’s biggest bank, offered as much as 1.7 billion pounds ($2.52 billion) to buy more than 300 bank branches from Royal Bank of Scotland Group Plc and bolster its existing British network, according to a person familiar with the plans. A transaction may be concluded within weeks, said the person... |
2024-09-10 | Bloomberg | U.S. Sept. NAHB/First American Improving Markets Index (Text) | Following is the text of the Housing Opportunity Index from the National Association of Home Builders. The number of improving housing markets across the country rose to 99 in September, according to the National Association of Home Builders/First American Improving Markets Index (IMI), released today. This is up from ... |
2024-01-02 | Bloomberg | European Stocks Climb as German Manufacturing Exceeds Estimates | European (SXXP) stocks gained on their first trading day this year, following the Stoxx Europe 600 Index’s first annual loss since 2008, as a measure of German manufacturing beat estimates and a gauge of utilities rose. Siemens AG (SIE) increased 2 percent for the second-biggest contribution to the Stoxx 600’s advance ... |
2024-03-04 | Bloomberg | Welcome the Robot Revolution, but Beware | Robots are evoking some deep economic anxiety these days. They’re routinely mastering human tasks -- driving cars, trading securities, diagnosing diseases - - that not long ago appeared permanently beyond their capabilities. And as automated technology advances at an exponential rate, more and more jobs, in more and mo... |
2024-03-14 | Bloomberg | Spice’s Modi Holds $200 Million on View Dollar Will Appreciate | Spice Global Chairman Bhupendra Kumar Modi said he raised his U.S. dollar holdings to $200 million, or a 10th of his $2 billion net worth, as he expects the currency to appreciate against the euro, pound and yen. Modi said there’s a “currency war” and many countries are following the U.S. in measures that would depreci... |
2024-12-13 | Bloomberg | Pentagon Budget Is a Weapon Against Iran, Terrorists | With the threat of more than $500 billion in Pentagon sequestration cuts looming next month, congressional haggling over details of the 2013 defense authorization bill may seem like shuffling deck chairs on the Titanic. Still, the U.S. military needs to pay its bills, and Congress has a few significant issues to iron o... |
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