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2024-11-09 | Bloomberg | South Africa Billionaire Unveiled Selling U.S. Groceries | Four days after Hurricane Sandy slammed into New York City and the surrounding states, billionaire Nathan “Natie” Kirsh ambled through the aisles of a 75,000-square-foot Restaurant Depot warehouse he owns in College Point, Queens. Dressed in a Gore-Tex jacket and loafers, the 80-year-old South African squeezed past doz... |
2024-03-29 | Bloomberg | U.K. Should Reject EU Transaction Tax, Lords Lawmakers Say | A U.K. House of Lords panel said the government should reject the European Commission’s proposed financial-transaction tax, as it may pose a “severe threat” to the City of London. The proposal is “wholly impractical and unworkable,” and would have a “disproportionate” impact on the U.K. by hurting London’s financial ce... |
2024-05-09 | Bloomberg | FHA New Foreclosures Jump as Modified Loans Default | The number of Federal Housing Administration-insured home loans entering foreclosure jumped in March after half the mortgages it modified to ease repayment terms were in default again a year or more later. The FHA’s role in lending to first-time buyers with poor credit and limited cash expanded after the 2008 collapse ... |
2024-09-23 | Bloomberg | Draghi Says ECB Is Ready to Offer More Long-Term Loans | European Central Bank President Mario Draghi said he’s ready to deploy another long-term refinancing operation to provide funds to Europe’s banking system if needed. “We are ready to use any instrument, including another LTRO if needed, to maintain the short term money markets at the level that is warranted by our asse... |
2024-06-27 | Bloomberg | Will Angela Merkel Save Europe’s Banks? | Europe ’s leaders have raised hopes that, when they meet Thursday and Friday in Brussels, they will agree on a banking union aimed at severing the link between the health of the euro area’s financial institutions and the solvency of its governments. The plan’s success or failure, as with so much else in the currency un... |
2024-09-11 | Bloomberg | Deutsche Bank Credit Traders Said to Leave on Cost Cuts | Three Deutsche Bank AG (DBK) credit traders including Brad Visokey and a debt salesman left the firm this week as Europe’s biggest bank by assets pledged to cut costs and review pay practices amid higher capital requirements. Visokey, who traded credit-default swaps tied to lenders and automakers, and Robert Lam, who h... |
2024-02-16 | Bloomberg | Consumer Comfort Rises to Highest Level in Year | Consumer confidence in the U.S. increased for a fourth straight week to reach the highest level in a year as more households believe the economy is improving. The Bloomberg Consumer Comfort Index rose to minus 39.8 in the period ended Feb. 12 from minus 41.7 the previous week. It marked just the third time since April ... |
2024-08-19 | Bloomberg | Treasury Yields Rise to 2-Year High Before Fed Minutes Release | Treasuries fell, with yields on 10-year notes reaching two-year highs for a third consecutive day, as investors look to the minutes of the Federal Reserve ’s last meeting for clues on the eventual slowing of bond purchases. Yields on the benchmark security rose to the highest since July 2011 as central bankers and poli... |
2024-11-23 | Bloomberg | Berkshire Says Private Data Released for Claimants | Oak River Insurance Co., a subsidiary of Warren Buffett ’s Berkshire Hathaway Inc. (BRK/A) , asked clients to guard against identity theft after an employee released some of their personal information. The data are tied to about 2,700 workers’ compensation claimants who had spinal surgery in Southern California between... |
2024-02-03 | Bloomberg | Retirement Plans, Milan Probe, EU Cartel Fines: Compliance | The U.S. Treasury Department will help expand the availability of annuities and lifetime income choices in retirement plans, the agency said. The department yesterday proposed two regulations to make it easier for those approaching retirement to buy an annuity through their company-funded pensions or 401(k) savings acc... |
2024-03-20 | Bloomberg | Fed Board Nominees Back Exit Strategy Ensuring Price Stability | President Barack Obama ’s nominees to the Federal Reserve Board told a Senate panel they would help the Fed withdraw stimulus when necessary in a way that keeps prices stable and doesn’t jar financial markets. Jerome Powell, a former private equity manager and Treasury undersecretary under President George H.W. Bush, t... |
2024-07-06 | Bloomberg | BB&T Capital Markets Loses Eight in Fixed-Income Trading to Smaller Firms | Eight BB&T Corp. fixed-income traders and salesmen have quit since May to join smaller firms building bond-trading units, said Bill Hardy , who became the bank’s head of debt capital markets when his predecessor, Ted Luse , departed last month. Those who left BB&T, the second-largest North Carolina bank, include Doug ... |
2024-06-24 | Bloomberg | Company Bond Risk Rises in Europe for Third Day, Credit-Default Swaps Show | The cost of insuring against losses on European corporate bonds rose, reversing an earlier decline, according to traders of credit-default swaps. Contracts on the Markit iTraxx Crossover Index of 50 companies with mostly high-yield credit ratings climbed 8.5 basis points to 556, according to JPMorgan Chase & Co. price... |
2024-11-05 | Bloomberg | Lapse of U.S. Unemployment Benefits May Cool Spending | Sharron Tetrault and her family have already decided to forego exchanging gifts this holiday season. The expiration of her jobless benefits may force her to stop paying her utility bills or even rent. Tetrault is among the about 1.2 million unemployed Americans the National Employment Labor Project in Washington says w... |
2024-02-08 | Bloomberg | Biggest China Deal Brokered by Ma as HSBC Sold Ping An | HSBC Holdings Plc ’s $9.4 billion sale of its stake in Ping An Insurance (Group) Co. to Thai billionaire Dhanin Chearavanont was initiated by the insurer’s chairman, the official who was approached to buy the stake said. The disclosure is the first confirmation of the Chinese insurer’s role in brokering the transaction... |
2024-10-12 | Bloomberg | Republicans Prove Unpopular With Voters Against Obama in Poll | Republican attacks on President Barack Obama ’s policies are resonating with voters, even as many Americans give a thumbs-down to the party and some of its specific ideas, a Bloomberg National Poll shows. Three weeks before the midterm elections, Republicans maintain a position of strength due to the commitment of thei... |
2024-10-08 | Bloomberg | California Obamacare Sign-Ups Exceed 28,000 in First Week | California said 28,699 people were signed up in the state’s health-insurance exchange in the first week, while New York had more than 40,000 sign up. The numbers for California, the largest U.S. state by population, were for the Oct. 1 to Oct. 5 period and exceeded expectations, Peter V. Lee, executive director of Cove... |
2024-11-09 | Bloomberg | Osborne Says U.K. Finance Companies Outpacing U.S. Competitors in China | Chancellor of the Exchequer George Osborne said British banks and financial services companies are outpacing U.S. counterparts in China and that London is more hospitable toward Chinese investors. The comments came as Prime Minister David Cameron gained preferential access for U.K. companies to China’s securities marke... |
2024-04-05 | Bloomberg | Republicans to Unveil Budget Plan With Sweeping Changes | Republicans are set to propose a budget plan calling for fundamental changes in the U.S. government’s tax and spending policies, including overhauling the Medicare health-insurance program for the elderly. House Budget Committee Chairman Paul Ryan is scheduled today to release a plan that would cut more than $6 trillio... |
2024-07-06 | Bloomberg | Hanover Insurance Says Catastrophes Cost Up to $160 Million | Hanover Insurance Group Inc. (THG) , the Massachusetts-based carrier that sells business and personal coverage, said second-quarter natural disasters, including a tornado in Joplin Missouri, cost the company $145 million to $160 million. Losses were $2.08 to $2.30 per share, after tax, the Worcester-based insurer said ... |
2024-05-09 | Bloomberg | Singapore Stocks, Currency Gain as Ruling Party Retains Power in Elections | Singapore stocks posted Asia’s second- biggest gain and the currency gained the most in a week as the ruling party retained power with 81 out of 87 parliamentary seats after facing the biggest electoral battle. Prime Minister Lee Hsien Loong won by a record-low 60.1 percent margin, down from 66.6 percent in 2006 and 75... |
2024-07-15 | Bloomberg | ICBC's Plan to Invest in Cathay Venture in Shanghai May Fail, Daily Says | Industrial & Commercial Bank of China Ltd.’s plan to invest in Cathay Life Insurance Co.’s venture in Shanghai may fail because Cathay wants to retain a controlling stake, the Economic Daily News reported, without saying where it got the information. To contact the reporter on this story: Weiyi Lim in Taipei at wlim2... |
2024-06-28 | Bloomberg | U.S. Stocks Pare Losses on Bets Europe Nearing Debt Pact | U.S. stocks pared losses in the final hour of trading amid speculation European leaders were nearing an agreement to halt contagion from the debt crisis. After the market close, European Union President Herman Van Rompuysaid leaders agreed to spend 120 billion euros ($149 billion) to stimulate growth. JPMorgan Chase & ... |
2024-07-08 | Bloomberg | U.S. Said to Plan Separate Leverage Ratios for Bank Firms | U.S. regulators may set two separate capital standards for the largest banks, one for parent companies and another for their government-backed lending units, said a person with knowledge of the matter. One leverage ratio would set capital at 6 percent of assets and the other would be 5 percent under the joint proposal ... |
2024-05-13 | Bloomberg | Partnership CEO Sees IPO Valuing Firm at More Than $1.5 Billion | Partnership Assurance Group Plc, a U.K. annuity provider, may be valued at “significantly” more than 1 billion pounds ($1.5 billion) when it goes public next month, Chief Executive Steve Groves said. The insurer, which offers annuities to people with medical conditions, will to raise 120 million pounds in the initial p... |
2024-02-01 | Bloomberg | U.S. Cattle Herd Slumping to 61-Year Low Means Longer Beef Rally | The cattle herd in the U.S., the world’s largest beef producer, probably shrank to the smallest in 61 years as drought ravages pastures from Texas to Nebraska and boosts feed costs. Ranchers held 88.92 million head of cattle as of Jan. 1, according to the average estimate of eight analysts surveyed by Bloomberg News. T... |
2024-09-07 | Bloomberg | Obama Said to Seek More Than $300 Billion Package to Boost Jobs | President Barack Obama plans to propose sparking job growth by injecting more than $300 billion into the economy next year, mostly through tax cuts, infrastructure spending and direct aid to state and local governments. Obama will call on Congress to offset the cost of the short-term jobs measures by raising tax revenu... |
2024-07-26 | Bloomberg | Gift From Fed Stops as Profits Shrink at Banks Led by JPMorgan | The Federal Reserve’s policy of keeping interest rates persistently low, which has helped boost bank earnings over the last six quarters, is beginning to make it harder for the biggest U.S. lenders to make money. Firms including JPMorgan Chase & Co. and Bank of America Corp. , which have benefited from record low cost... |
2024-01-25 | Bloomberg | United Technologies Sees Asset Sales Curbing New Stock Needed for Goodrich | United Technologies Corp. (UTX) plans to sell assets to help minimize the amount of stock it needs to offer to pay for the $16.5 billion purchase of Goodrich Corp. (GR) , Chief Financial Officer Greg Hayes said. The maker of Sikorsky helicopters will raise funds on the debt and equity markets about a month before the a... |
2024-06-18 | Bloomberg | Unemployment Prompts Online Training Challenging Colleges: Jobs | Acupuncturist Courtney Wallace was struggling to pay off $60,000 in student debt. Seeking more lucrative work through tapping skills she’d learned as a kid building websites, she went to TrainSignal Inc., which provides web-based computer training for $49 a month. A month later, she was hired as a systems specialist at... |
2024-06-26 | Bloomberg | Court Ruling Fuels Fear Among Hispanics in Arizona | Erika Ovalle joined several dozen activists in the Phoenix heat outside the Immigration and Customs Enforcement office to protest the U.S. Supreme Court decision they say opens the door to racial profiling in Arizona. “People are living in fear,” said Ovalle, 32, a U.S. citizen who volunteers with Puente Movement, an i... |
2024-05-23 | Bloomberg | Insurers Must Improve Benefits for New Health Exchanges | Half the people who buy their own health insurance, rather than depend on an employer, are in plans that have fewer benefits than what the U.S. health-care law will require beginning in 2014, a study found. UnitedHealth Group Inc. (UNH) , WellPoint Inc. (WLP) and other companies that participate in the insurance exchan... |
2024-04-27 | Bloomberg | Bank of China First-Quarter Profit Rises 41% on Loans, Beating Estimates | Bank of China Ltd., the nation’s third-largest lender by market value, said first-quarter profit rose 41 percent, aided by rising demand for loans and fee-based services. Net income climbed to 26.23 billion yuan ($3.8 billion), or 0.10 yuan a share, from 18.57 billion yuan, or 0.07 yuan a year earlier, Beijing-based B... |
2024-02-09 | Bloomberg | AIG Has $4.1 Billion Cost on Inadequate Reserves at Property-Casualty Unit | American International Group Inc. said higher-than-forecast claims costs cut fourth-quarter profit by $4.1 billion, and $2 billion previously designated to repay its bailout will be used to bolster the property-casualty unit. The insurer reached an agreement with the U.S. Treasury Department permitting the company to k... |
2024-10-13 | Bloomberg | Consumer Comfort Hovered Near Low Last Week | Consumer confidence hovered last week near a record low as Americans turned more pessimistic about the state of the U.S. economy. The Bloomberg Consumer Comfort Index fell to minus 50.8 in the week ended Oct. 9 from 50.2 the prior period. It was the fourth consecutive reading lower than minus 50, something that has hap... |
2024-06-15 | Bloomberg | Japan's Notes Rise for Second Day as Greek Downgrade Boosts Safety Demand | Japan’s five-year notes rose for a second day after Moody’s Investors Service cut Greece’s credit rating, spurring demand for the relative safety of the Asian nation’s debt. Five-year yields fell from near the highest this month after Moody’s yesterday cut Greece’s ranking four steps to junk, citing “substantial” risk... |
2024-10-17 | Bloomberg | S&P 500 Surges to Record on Fed Bets After Debt Deal | U.S. stocks rose, sending the Standard & Poor’s 500 Index to a record, as speculation grew that the Federal Reserve will maintain the pace of stimulus after Congress ended the budget standoff. American Express Co. rallied the most in nearly two years after reporting third-quarter profit that beat analysts’ estimates. N... |
2024-02-25 | Bloomberg | Gillard Slips in Australia Poll as Tax Damages Credibility | Prime Minister Julia Gillard slipped behind opposition rival Tony Abbott as Australia’s preferred leader for the first time since August after her credibility was dented when a mining tax she helped design brought in less revenue than forecast. On the question of who would make the better prime minister, Gillard fell 5... |
2024-08-02 | Bloomberg | Somali Pirate Attacks Sink Premiums as Insurers Leap Aboard | Kidnap and ransom premiums paid to insure against Somali piracy have slumped since the BBC Trinidad was hijacked in the Gulf of Aden in August 2008 as escalating attacks spurred more companies to offer coverage. Buying $5 million of coverage now costs as little as $15,000 per voyage, half the peak rate in 2008, said W... |
2024-07-18 | Bloomberg | Geithner Says Firms’ Failures Prove Dodd-Frank Need | U.S. Treasury Secretary Timothy F. Geithner said risk-management failures at firms including JPMorgan Chase & Co. (JPM) prove the importance of the Dodd-Frank financial rules overhaul. “We still have unfinished business,” Geithner said in remarks prepared for a meeting of the Financial Stability Oversight Council in Wa... |
2024-08-01 | Bloomberg | Danske Bank Gains as Loan Loss Improvement Drives Profit | Danske Bank A/S (DANSKE) said profit rose 46 percent last quarter after loan losses at Denmark ’s biggest bank dropped as the economies of its main markets picked up. Danske shares rose as much as 8.2 percent, the biggest gain in more than six months, to 111.80 kroner and traded at that level at 11:40 a.m. in Copenhage... |
2024-11-20 | Bloomberg | EasyJet Doubles Dividend as Business Travel Boosts Profit | EasyJet Plc (EZJ) doubled its dividend after boosting full-year profit 28 percent through a move into corporate travel that will see the U.K. discount carrier fly to Moscow from Manchester in northern England next spring. EasyJet closed at its highest price in five years after posting a 317 million-pound ($504 million)... |
2024-07-20 | Bloomberg | Swiss Stocks Climb for a Second Day as Banks, Insurers Advance | Swiss stocks climbed for a second day, led by a rally in financial shares, as speculation mounted that U.S. lawmakers will agree to raise the debt ceiling of the world’s largest economy. Credit Suisse Group AG (CSGN) and UBS AG (UBSN) , Switzerland’s largest banks, advanced more than 3 percent in Zurich before tomorrow... |
2024-05-28 | Bloomberg | Emerging-Market Stocks Advance a Third Day as Oil Shares Rally | Emerging-market stocks gained for a third day as higher oil prices boosted energy producers and reports in the U.S. spurred confidence in the global recovery. South Africa’s rand dropped to a four-year low versus the dollar after the economy slowed more than forecast. OAO Gazprom, Russia’s biggest natural-gas producer,... |
2024-03-24 | Bloomberg | Ex-Goldman Board Member Gupta Took Fifth Amendment, Judge Told | Former Goldman Sachs Group Inc. (GS) board member Rajat Gupta invoked his Fifth Amendment right not to incriminate himself when the U.S. Securities and Exchange Commission sought to question him, a prosecutor said. Shortly before the start of proceedings yesterday in the insider-trading trial of Galleon Group LLC co-fo... |
2024-03-30 | Bloomberg | Canada Jan. Gross Domestic Product Report (Text) | The following is the text of the Jan. GDP report released by Statistics Canada. Real gross domestic product edged up 0.1% in January after increasing 0.5% in December 2011. Gains in manufacturing were partly offset by a decline in oil and gas extraction in January. Real gross domestic product edges up in January Increa... |
2024-07-17 | Bloomberg | Asian Stocks Rise for Second Week, as DBS Group Climbs on Singapore GDP | Asian stocks rose for a second week as record sales at Intel Corp. and unprecedented economic growth in Singapore overshadowed weak U.S. factory reports and a slowdown in China. LG Corp. , the largest shareholder in the world’s third- biggest maker of mobile phones, surged 12 percent to 73,700 won as Intel’s second qu... |
2024-09-29 | Bloomberg | Drug-Evading Tuberculosis Shows Rising Superbug Threat in China | Almost half of tuberculosis patients with a strain resistant to two or more drugs hadn’t had the disease before, according to a study at a Chinese hospital. Of 100 multidrug-resistant TB cases studied at Shandong Provincial Tuberculosis Hospital, 45 weren’t previously treated for the lung infection, doctors at the Chin... |
2024-07-12 | Bloomberg | Co-Op Group Names Former Ombudsman Kelly to Lead Capital Review | Co-Operative Bank Plc hired the former chairman of the U.K.’s Financial Ombudsman Service, Christopher Kelly, to lead a study into its need for 1.5 billion pounds ($2.3 billion) of new capital. Kelly will investigate the decision to merge the lender with Britannia Building Society in 2009 and the proposed acquisition o... |
2024-04-01 | Bloomberg | AT&T’s $140 Million Among Top U.S. Retiree Health Payments | Eight U.S. companies that earned more than $10 billion last year, led by AT&T Inc. (T) , were among recipients of a government program that paid $1.8 billion toward elderly retirees’ health-care costs, a report shows. The program created by last year’s health overhaul sets aside $5 billion to help companies pay health ... |
2024-12-24 | Bloomberg | Stanford's Lawyers Say They Need Two More Years to Prepare for Fraud Trial | Lawyers for R. Allen Stanford , the Texas financier accused of a $7 billion Ponzi scheme, asked to delay a trial set to begin Jan. 24 for at least two years so they can prepare their defense. Stanford’s trial preparation suffered during the first nine months of this year because his previous lawyer “focused on attempti... |
2024-08-27 | Bloomberg | Romney’s Shifts Leave Doubts About Which Mitt Voters Would Get | When Governor Mitt Romney set out to fix the dysfunctional health-care system in Massachusetts , one of his first moves was to embrace a political nemesis. Romney had faulted John Sasso, a Democratic operative, for his 1994 election loss to Senator Edward Kennedy , yet now he needed Sasso’s political ties and instincts... |
2024-02-22 | Bloomberg | Fannie-Freddie Plan, Sweden FSA, Trader Suspects: Compliance | With no plan from Congress or the Obama administration to shutter Fannie Mae and Freddie Mac , the companies’ regulator told Congress yesterday it will expand its oversight with a strategic plan to develop new systems and standards for home loans. The companies, which own or guarantee most of the nation’s mortgages, ex... |
2024-11-04 | Bloomberg | Fortiz Plans to List Merchant Bank Ghana, Central Bank Says | Fortiz Private Equity Fund Ltd. will list Merchant Bank Ghana Ltd. on the stock exchange within three years after acquiring a majority stake in the lender, according to Ghana ’s central bank. Fortiz will inject capital to address solvency and liquidity challenges after agreeing to buy the holding from the state pension... |
2024-03-19 | Bloomberg | Yes, Cyprus Is Different | One lesson from the Cyprus bailout debacle is that it really is different. Not so much because its economic case is unique, but because Cyprus’s fellow European Union members see it as an outlier. This is the EU’s third smallest nation with only 1.1 million people. It joined as recently as 2004, with the help of a litt... |
2024-04-20 | Bloomberg | Udvar-Hazy ‘Ready’ to Buy Back ILFC After IPO for Air Lease | Steven Udvar-Hazy, who this week staged the jet-leasing industry’s biggest initial public offering, said he’s “absolutely” interested in buying back the company he sold to American International Group Inc. (AIG) in 1990. Udvar-Hazy said he tried “very hard” to repurchase International Lease Finance Corp. from AIG in 20... |
2024-03-21 | Bloomberg | Former Meritor Investor Loses Bid for Share of $276 Million | Meritor Savings Bank current shareholders are the proper recipients of $276 million from the Federal Deposit Insurance Corp. over broken promises that led to the company’s 1992 seizure, a U.S. appeals court ruled today. Former shareholder Steven Roth and Interstate Properties argued that owners of Meritor shares at the... |
2024-10-17 | Bloomberg | Putin’s Billionaire Ally Buys Half of Tele2 Russia Operator | President Vladimir Putin ’s billionaire ally Yury Kovalchuk is buying half of Tele2 Russia Holding AB with partners, seeking to make the wireless carrier a stronger competitor to the country’s three dominant operators. Kovalchuk’s Bank Rossiya (ROSS) and partners including steelmaking billionaire Alexey Mordashov bough... |
2024-05-31 | Bloomberg | ADP Employer Services Says U.S. Added 133,000 Jobs in May | Companies in the U.S. added fewer workers than forecast in May, a reminder the job market will take time to strengthen, a private report based on payrolls showed. The 133,000 increase in employment followed a revised 113,000 gain the prior month that was smaller than initially estimated, Roseland, New Jersey-based ADP ... |
2024-09-16 | Bloomberg | Jefferson County’s Major Creditors Agree on Debt Reorganization | Jefferson County’s major creditors signed agreements in principle to reorganize $3.14 billion of sewer debt that has driven the Alabama county to consider what would be the biggest U.S. municipal bankruptcy The signed letters include one from JPMorgan Chase & Co. (JPM) , which arranged most of the debt, said John Young... |
2024-07-29 | Bloomberg | Why Are Google Employees So Disloyal? | The perks Google lays on for its employees are the stuff of legend. Free gourmet food all day, the best health insurance plan anywhere, five months' paid maternity leave, kindergartens and gyms at the workplace, the freedom to work on one's own projects 20 percent of the time, even death benefits. No wonder the tech be... |
2024-03-09 | Bloomberg | Arabtec, Kuwait Finance, Qatar General: Gulf Equity Preview | The following stocks may rise or fall in Persian Gulf markets. Stock symbols are in parentheses and prices are from the last close. The Dubai Financial Market General Index rose 2.7 percent. Saudi Arabia’s Tadawul All Share Index (SASEIDX) gained 2.1 percent. Arabtec Holding Co. (ARTC) : The United Arab Emirates large... |
2024-12-11 | Bloomberg | BofA Gives Advisers New Bonuses Tied to Funds-Growth Targets | Bank of America Corp. , the second- biggest U.S. lender, boosted bonuses for Merrill Lynch financial advisers who steer clients to use more of the bank’s products. Advisers who increase the flow of funds by at least 10 percent will be eligible for so-called strategic-growth awards starting next year, John Thiel , head ... |
2024-03-22 | Bloomberg | Rwanda’s Economic Growth Accelerated to 7.5% Last Year | Rwanda ’s economic growth accelerated to 7.5 percent last year, driven by financial services and the electricity, gas and water industries, the National Institute of Statistics of Rwanda said. The rate of growth rose from 6.1 percent in 2009, the institute said on its website today. Finance and insurance expanded 24 pe... |
2024-08-19 | Bloomberg | Lee Steps Up Support for Singaporeans as Economic Revamp Bites | Singapore Prime Minister Lee Hsien Loong pledged to improve housing affordability and revamp its health-care system, increasing support for citizens as the economy adjusts to an aging population and tighter labor supply. In his annual National Day Rally policy address yesterday, Lee also announced changes to the educat... |
2024-09-08 | Bloomberg | China Puts Showing No Faith in Predictions for Rebound: Options | Options to protect against declines in Chinese stocks are the most expensive in four years as traders lose confidence in forecasts for a rally by Credit Suisse Group AG, Morgan Stanley and Deutsche Bank AG. The price for three-month bearish put contracts to sell the Hang Seng China Enterprises Index rose to 1.41 times ... |
2024-09-14 | Bloomberg | Insurers Dumping Foreign Bonds Bolsters Government Auctions: Japan Credit | The slide in overseas interest rates is spurring Japanese insurers to dump foreign debt in favor of domestic fixed-income securities, supporting demand at the nation’s bond auctions. Germany’s 20-year bonds yield 69 basis points more than similar-maturity Japanese debt sold yesterday, near the lowest in at least 17 yea... |
2024-04-26 | Bloomberg | Bridgestone Says Yuan Policy Won't Affect `Aggressive' China Sales Growth | Bridgestone Corp., the world’s largest tiremaker, expects sales volumes in China to increase “aggressively” this year even if the nation allows its currency to appreciate against the dollar. Sales of tires for trucks and buses in China will probably exceed the 2008 level by more than 10 percent, Director Yujiro Kanaha... |
2024-02-22 | Bloomberg | AIG’s Ascot Said Among Insurers of Stolen Diamonds | Lloyd’s of London insurers including a carrier backed by American International Group Inc. (AIG) are facing claims on the theft of $50 million in diamonds from a Brussels airport, said people with knowledge of the policies. AIG’s Ascot was the lead insurer on the policy bought by Brink’s Co. (BCO) , which was robbed on... |
2024-02-28 | Bloomberg | U.S. January Personal Income and Spending (Text) | Following is the text of the U.S. personal income and spending report for Jan. released by the Commerce Department. Personal income increased $133.2 billion, or 1.0 percent, and disposable personal income (DPI) increased $78.3 billion, or 0.7 percent, in January, according to the Bureau of Economic Analysis. Personal c... |
2024-10-15 | Bloomberg | Gupta’s Admirers Urge Mercy as Insider Sentence Nears | Microsoft Corp. (MSFT) Chairman Bill Gates and former United Nations Secretary-General Kofi Annan were among supporters of ex- Goldman Sachs Group Inc. (GS) director Rajat Gupta who urged mercy at his sentencing next week for his part in the biggest hedge fund insider trading scheme in U.S. history. Gupta is to be sent... |
2024-01-02 | Bloomberg | Antitrust’s Baer, Kirkland, Weil Gotshal: Business of Law | William Baer , a Washington antitrust lawyer and former Federal Trade Commission official, was confirmed to head the U.S. Justice Department’s antitrust division. Baer’s nomination as assistant attorney general, which had been stalled in Congress for most of the past year, was confirmed Dec. 30 by a Senate vote of 64-2... |
2024-11-05 | Bloomberg | Codelco Seen Cutting Copper Premiums to Chinese Buyers | Codelco, the world’s largest copper producer, will probably reduce the premium charged to Chinese buyers for a second year as increasing domestic production lowers demand for imports. The fee may drop to $100 a metric ton in 2013 from $110 this year, according to the median of 11 estimates from executives, analysts and... |
2024-07-13 | Bloomberg | Crude Futures Advance as Stocks Gain, U.S. Oil Inventories Seen Increasing | Crude oil advanced in New York as rising equity markets and forecasts of declining U.S. inventories signaled growing demand for fuel. European stocks gained for a sixth day, with the Europe Stoxx 600 index rising 1.7 percent. U.S. index futures also rose. The U.S. Energy Department may say tomorrow that crude stockpil... |
2024-02-27 | Bloomberg | UOB Profit Climbs 25%, Beats Estimates on Non-Interest Income | United Overseas Bank Ltd. (UOB) , Southeast Asia’s third-largest lender by assets, said profit rose for the fourth straight quarter, driven by operations such as capital markets and wealth management. Fourth-quarter net income rose 25 percent to S$696 million ($561 million) from S$558 million a year earlier, the bank s... |
2024-10-11 | Bloomberg | Canadian Dollar Rallies With Commodities as Risk Appetite Rises | The Canadian dollar advanced for the first time in three days against its U.S. counterpart as commodities rallied on positive risk sentiment and Canada ’s trade deficit narrowed. The loonie, as the currency is nicknamed for the image of the waterfowl on the C$1 coin, amid speculation Europe’s debt crisis will ease. les... |
2024-09-21 | Bloomberg | Savers Flooding Stable Value Funds May Have Limited Access | Galliard Capital Management Inc.’s stable-value funds, designed to preserve principal in tumultuous times, drew more than four times the usual inflows in August as market volatility increased, said managing partner John Caswell. Investors in retirement plans administered by Wells Fargo & Co. (WFC) moved $850 million in... |
2024-07-27 | Bloomberg | Insurance Australia Full-Year Profit Halves After Claims at U.K. Unit Rise | Insurance Australia Group Ltd. , the Sydney-based insurer formed in 1925, said fiscal-year profit halved after rising claims at its loss-making U.K. unit. Net income in the year ended June 30 fell to A$91 million ($82 million) from A$181 million a year ago, Insurance Australia said in a statement today based on prelim... |
2024-07-30 | Bloomberg | Consumer Debt Eroding Canada Banks’ Edge as S&P Cuts Outlook | Canadian banks are underperforming global counterparts by the most in a year as record consumer debt and a housing market that’s vulnerable to a correction weakens their earnings prospects and risks a credit downgrade. Standard & Poor’s cut its outlook to negative from stable on seven Canadian banks July 27, including ... |
2024-02-14 | Bloomberg | Euro Falls on Economy; S&P 500 Advances as Heinz Jumps | The euro slid as the region’s recession deepened more than forecast, while the Standard & Poor’s 500 Index rose to a five-year high after a drop in U.S. jobless claims and a $23 billion buyout offer for HJ Heinz Co. Europe’s 17-nation currency depreciated 0.7 percent versus the dollar at 4 p.m. in New York. The S&P 500... |
2024-04-02 | Bloomberg | U.S. Stocks Advance Amid Factory Orders, Cyprus Deal | U.S. stocks rose, sending the Standard & Poor’s 500 Index to a record close, as concern over Europe’s debt crisis eased and factory orders topped forecasts. Humana Inc. (HUM) jumped 5.5 percent as health-care providers rallied the most among 10 groups in the S&P 500, after medical insurers won an increase in a key Medi... |
2024-02-21 | Bloomberg | Margins Widen at U.S. Companies | Companies are improving margins and generating profits as wage growth for the American worker lags behind the prices of goods and services. The year-over-year change in the so-called core consumer price index, which excludes volatile food and fuel, has outpaced hourly earnings for the last four months. In January, aver... |
2024-08-02 | Bloomberg | MetLife Lowers Forecast on Stock Sale for AIG Deal | MetLife Inc. , the insurer buying a non-U.S. unit from American International Group Inc., said earnings per share will be lower than previously forecast after it boosted the size of a stock sale to fund the deal. The acquisition will add 40 cents to 45 cents to next year’s operating earnings per share, New York-based ... |
2024-04-08 | Bloomberg | Bank of Japan Errs With a Micro Response to Macro Challenge, Takenaka Says | The Bank of Japan ’s offer of credit to cash-strapped businesses falls short of what’s needed to bolster growth after last month’s record earthquake, according to the former minister who led a clean-up of the nation’s banks. The central bank yesterday offered a 1 trillion yen ($12 billion) one-year loan program to bank... |
2024-02-28 | Bloomberg | Germany’s Steffen May Be Named BaFin Head, Handelsblatt Says | Thomas Steffen, a European policy official at the German Finance Ministry, may be named the BaFin financial regulator’s next head, Handelsblatt said, citing people close to Finance Minister Wolfgang Schaeuble it didn’t identify. BaFin President Jochen Sanio may retire this summer, the Dusseldorf-based newspaper reporte... |
2024-09-29 | Bloomberg | Ambac Sues Bank of America Over Countrywide Bonds | Ambac Assurance Corp. sued Bank of America Corp. over $16.7 billion of mortgage-backed securities, saying the bank’s Countrywide Financial Corp. unit fraudulently induced Ambac to insure bonds backed by improperly made loans. Ambac found that 97 percent of 6,533 loans it reviewed across 12 securitizations sponsored by ... |
2024-04-24 | Bloomberg | WellPoint’s Swedish Wins Praise in Public Debut as CEO | WellPoint Inc. (WLP) Chief Executive Officer Joseph R. Swedish won high marks from investors and analysts in his first public appearance since taking over for the ousted Angela Braly. Swedish, 61, speaking today during the Indianapolis-based health insurer’s first-quarter earnings call, announced profits that beat anal... |
2024-06-14 | Bloomberg | Senate's Lincoln Considers Compromise on Swaps-Desk Provision | Senator Blanche Lincoln may modify her proposed rules on derivatives by giving commercial banks two years to push out their swaps trading desks into subsidiaries. The compromise proposal also would allow the Federal Reserve to provide system-wide emergency assistance to swaps dealers, according to a draft obtained by ... |
2024-01-09 | Bloomberg | Banks Blame Countrywide for U.K. Mortgage Losses in 97 Suits | Suninder Sandha bought his luxury apartment in Coleorton Hall , a 19th century country mansion near Leicester in central England, using a 1.2 million-pound loan ($1.86 million) from Barclays Plc (BARC) in 2005. When the property market collapsed two years later, Sandha couldn’t make his mortgage payments and Barclays s... |
2024-06-08 | Bloomberg | European Insurers’ Capitalization Is ‘Comfortable’, Eiopa Says | European insurers have sufficient financial strength, the chairman of the region’s supervisory authority for the industry said before the publication of stress-test results scheduled for next month. The European Commission and the European Insurance and Occupational Pensions Authority, or Eiopa, along with local regula... |
2024-05-30 | Bloomberg | Trade Messaging Protocol, Miami Fund, Quantek: Compliance | FIX Protocol Ltd., the London-based organization that owns the global messaging format for financial trading, published a set of European guidelines on how banks should report their equity trades. Brokers and banks should tag their trades using FIX’s standards so fund managers can tell on which exchange or alternative ... |
2024-08-08 | Bloomberg | MGIC Mortgage Unit Cut by Moody’s on Capital, Freddie Clash | MGIC Investment Corp. (MTG) had the financial strength rating of its main insurance unit cut by Moody’s Investors Service as losses from backing home loans drain capital. The rating was lowered to B2 from B1 “due to the continued deterioration of the insurer’s regulatory capital position and to reflect the possible adv... |
2024-04-18 | Bloomberg | Bank of America Faces Bad Home-Equity Loans: Mortgages | Bank of America Corp. , whose home- equity mortgage portfolio exceeds its stock market value, probably will say about $2 billion of junior loans are bad assets tomorrow even as some borrowers are still paying on time. That’s what Barclays Capital estimates the bank will report in its first-quarter results, following de... |
2024-05-20 | Bloomberg | Wildly Varying Hospital Prices Keep Health Care Expensive | If further proof were needed that price competition doesn’t exist in the expensive U.S. health-care market, it arrived this month. The Centers for Medicare and Medicaid Services published 2011 charges for medical treatments set by more than 3,000 American hospitals. In suburban Denver, a patient treated for a respirato... |
2024-11-12 | Bloomberg | Moneysupermarket.Com Is Unafraid of Google Threat, CEO Says | Moneysupermarket.com Group Plc (MONY) , the U.K.’s largest price comparison website, is confident that fresh competition from Google Inc. (GOOG) won’t reduce profits even if it eats into sales, Chief Executive Officer Peter Plumb said. Google started a credit-card price comparison website in March, prompting concern am... |
2024-07-22 | Bloomberg | Travelers Misses Estimates, Cuts Forecast's Top Range | Travelers Cos., the insurer added to the Dow Jones Industrial Average last year, cut its full-year profit forecast after second-quarter results missed analysts’ estimates as the economic slump pressured sales and catastrophe costs rose. The stock posted the biggest decline in the Dow. Net income fell to $670 million, ... |
2024-07-13 | Bloomberg | Discovery Is Exploring U.S. Opportunities for Vitality, Business Day Says | Discovery Holdings Ltd., which owns South Africa’s largest medical insurance administrator, is examining opportunities in the U.S. for its Vitality product, Business Day reported, citing Chief Executive Officer Adrian Gore. |
2024-02-25 | Bloomberg | Niagara Falls Bets on More Gaming Amid Casino Spat: Muni Credit | Niagara Falls, New York, lost its budget reserves and best bond rating since the 1970s amid a dispute over casino revenue between the state and the Seneca Nation of Indians. Now the city is betting even more gambling will bolster its credit. New York’s biggest Indian tribe stopped paying the state 22 percent of its slo... |
2024-02-15 | Bloomberg | Malaysia Plans $9.9 Billion Sukuk to Finance Mass Railway | Malaysia plans to raise as much as 30 billion ringgit ($9.9 billion) through an Islamic bond program to fund construction of a mass railway in the Southeast Asian nation’s capital, the project’s manager said. Dana Infra Sdn., a finance ministry company created to fund infrastructure development, will sell ringgit-denom... |
2024-09-12 | Bloomberg | Regions Names Heads as Bank Organizes Wealth Management | Regions Financial Corp. (RF) , the 10th- largest U.S. bank by deposits, arranged its wealth-management business into four units and named leaders for each. Personal trust and private banking combined into one unit, private wealth management, led by Nick Stonestreet, 51, Birmingham, Alabama-based Regions said today in a... |
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