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2024-02-22 | Bloomberg | Mental-Health Cuts by U.S. States Risk Boosting Health Costs | U.S. states looking to balance budgets by cutting mental-health facilities and Medicaid payments risk increasing health-care costs by pushing psychiatric patients into emergency rooms. States trimmed 9.5 percent, or more than $1.6 billion, from their mental-health spending from fiscal 2009 to 2012, according to the Nat... |
2024-11-29 | Bloomberg | Marshall Wace Fund Returns 18%, to Add Shares of China Insurers, Citigroup | Two global financials funds managed by Marshall Wace LLP, the London-based asset manager founded by Paul Marshall and Ian Wace , have trimmed bets on rising Indian banking stocks, added shares in Citigroup Inc. and Chinese insurers, and expects the European debt crisis to spread. Marshall Wace Global Financials Emergin... |
2024-06-18 | Bloomberg | Emerging Stocks Rise to 5-Week High After Greek Elections | Emerging-market stocks rose, driving the benchmark index (SENSEX) to a five-week high, as concern that Greece may be forced out of the euro eased. The MSCI Emerging Markets Index advanced 1 percent to 934.06 by 4:31 p.m. in New York , the highest level on a closing basis since May 15. Redecard SA, Brazil’s second-bigge... |
2024-02-17 | Bloomberg | Obama Says Export Aid Will Help U.S. Companies Compete | President Barack Obama promised to boost support for U.S. manufacturers such as Boeing Co. (BA) that face subsidized foreign competition as part of his drive to increase exports. Expanding on proposals he outlined in his State of the Union address last month, Obama announced plans for Export- Import Bank financing for ... |
2024-03-09 | Bloomberg | Barclays Cuts Diamond’s Pay as Lloyds, RBS Award CEOs Stock | Barclays Plc (BARC) cut Chief Executive Officer Robert Diamond ’s remuneration by almost a third last year and froze his salary for 2012 after the lender missed its profitability target. Diamond received 6.3 million pounds ($9.9 million) in salary, bonuses and stock last year, down from 9 million pounds the previous ye... |
2024-03-08 | Bloomberg | Scor Is Said to Be Lead Bidder for Aegon's Transamerica Re Unit Over RGA | Scor SE (SCR) , France ’s largest reinsurer, is in talks to buy Dutch rival Aegon NV (AGN) ’s Transamerica Reinsurance unit, said four people with knowledge of the matter. A deal for the U.S.-based business, which had a book value of 1.6 billion euros ($2.2 billion) as of 2009, may still be weeks away, said the people,... |
2024-04-13 | Bloomberg | Swan Insurance of Mauritius Seeking 15% Policy Growth This Year, CEO Says | Swan Insurance Co., Mauritius’s second-largest insurer by market value, plans to boost gross premiums as much as 15 percent in 2011 by selling more policies to consumers, Chief Executive Officer Louis Rivalland said. “The corporate risk market is reaching saturation,” Rivalland said in an April 7 interview in Port Loui... |
2024-05-09 | Bloomberg | Standard Chartered’s Wasim Sees Singapore Islamic Market Growth | Wasim Saifi, Singapore-based global head of Islamic and consumer banking at Standard Chartered Plc (STAN) , comments on the city-state’s development of Islamic finance in an e-mailed response to questions. Singapore will host the second World Islamic Banking Conference (Asia Summit) from June 8 to June 9. On Singapore’... |
2024-01-10 | Bloomberg | UniCredit Share Plunge Seen Deterring Banks in Europe From Selling Stock | A 45 percent drop in UniCredit SpA (UCG) shares over four days after Italy’s biggest bank announced a rights offer may deter European lenders from asking investors for help to meet requirements that they replenish capital. “Every bank will be trying to avoid doing a rights issue even more now,” said Peter Braendle, a f... |
2024-04-05 | Bloomberg | U.S. Nuclear Output Falls to Lowest in Year as PPL Shuts Plant | U.S. nuclear-power output fell to the lowest level in a year as PPL Corp. (PPL) shut the Susquehanna 2 reactor in Pennsylvania , the Nuclear Regulatory Commission said. Power generation nationwide decreased by 655 megawatts, or 0.9 percent, from yesterday to 76,185 megawatts, or 75 percent of capacity, the smallest amo... |
2024-02-01 | Bloomberg | Cigarettes Are Safe as Long as You Just Invest: Riskless Return | Tobacco companies handed investors the best returns in the last decade when adjusted for volatility, and analysts at BNY Mellon Wealth Management and Janney Montgomery Scott LLC say that will continue as profits prove resilient amid economic turmoil. The BLOOMBERG RISKLESS RETURN RANKING shows the MSCI World Tobacco In... |
2024-05-21 | Bloomberg | CertusBank Buys Two Failed Lenders as 2011 Bank Toll Reaches 43 | CertusBank, a South Carolina lender run by former Bank of America Corp. and Wachovia Corp. executives, acquired two shuttered Georgia lenders and Columbia Banking System Inc. (COLB) bought one in Washington as property price declines continue to imperil community banks. Columbia Banking, the $4.3 billion lender based i... |
2024-07-19 | Bloomberg | Reinsurance Group Falls as Australia Claims Fuel Loss | Reinsurance Group of America Inc ., the reinsurer formerly owned by MetLife Inc. fell the most since October as it swung to a loss on higher-than-expected costs from disability coverage in Australia. Reinsurance Group dropped 7.3 percent to 67.95 at 4:15 p.m. in New York. The Chesterfield, Missouri-based company has cl... |
2024-01-20 | Bloomberg | Talanx Agrees to Purchase KBC’s Polish Insurance Division for $1 Billion | Talanx AG bought Poland ’s Towarzystwo Ubezpieczen i Reasekuracji Warta SA from KBC Group NV for 770 million euros ($999 million), beating rivals in a bid to expand in eastern Europe’s largest insurance market. When the purchase is completed in the second half of 2012, Talanx’s Japanese partner Meiji Yasuda Life Insura... |
2024-12-22 | Bloomberg | MBIA Ratings Cut By S&P on Higher Potential CDO Losses | MBIA Inc. and two bond insurance units, had their ratings cut by Standard & Poor’s, which cited “significantly higher” projections of potential losses and uncertainty that the company’s split of its businesses will hold up in court. MBIA Insurance Corp.’s credit ratings were cut four levels to B from BB+, dropping them... |
2024-05-10 | Bloomberg | Euro Holds Near Three-Month Low on Greece Stalemate | The euro traded 0.2 percent from a more-than three month low as Greece remained divided on forming a new government, stoking concern that another election could set the stage for the country’s exit from the currency union. The 17-nation euro remained lower, extending its longest losing streak since 2008, before French ... |
2024-01-08 | Bloomberg | Hotel Deals Forecast to Rise in ’13 on Debt Availability | Hotel deal volume probably will rise to $32 billion globally this year as sovereign-wealth investors, mutual funds and insurance companies provide the most debt for transactions since 2007, Jones Lang LaSalle Hotels said. Alternative lenders will provide senior and mezzanine debt following cutbacks by large banks, help... |
2024-05-10 | Bloomberg | Goldman Sachs Shorts Spanish Debt, Buys Italy’s | Goldman Sachs Group Inc. (GS) , the fifth- biggest U.S. bank by assets, positioned itself for a decline in the value of Spanish government bonds and a rally in Italian sovereign debt during the first quarter. The firm’s “market exposure” to Spanish government bonds shifted to a negative $446 million in March from a pos... |
2024-10-01 | Bloomberg | Weil on Finance, P.M.: Government Closes, Life Goes On | Greetings, View fans. Time for more fun with annotated links. Here you go. The boom-bust-flip phenomenon New York Times economics reporter Catherine Rampell has a good piece today about the housing market's resurgence and how corporate investors that bought at the trough are making a killing. Nice stat here, from Redfi... |
2024-08-30 | Bloomberg | Blackstone Said Near Takeover of Dutch Developer Multi | Blackstone Group LP (BX) ’s real estate unit is close to completing a restructuring of Multi Corp. that would give it full ownership of the debt-laden European mall developer, said two people with knowledge of the situation. Blackstone, the biggest manager of private-equity property funds, has amassed more than 90 perc... |
2024-06-18 | Bloomberg | Fernandes Says Tune Can Repeat AirAsia’s Budget Success | As AirAsia Bhd. (AIRA) prepares to more than triple its fleet, Chief Executive Officer Tony Fernandes says he wants to match the growth of his budget airline with discount hotels, mobile phones and financial services. Tune Group , the closely held parent company of Fernandes and business partner Kamarudin Meranun, may ... |
2024-02-18 | Bloomberg | Treasury Notes Fall a Third Consecutive Week Amid Greek Bailout Optimism | Treasury notes fell for a third consecutive week amid speculation Greece will secure an aid package from European leaders, discouraging demand for the safest assets. Yields increased the past two days as reports showed claims for U.S. jobless benefits unexpectedly dropped last week to a four-year low and an index of U.... |
2024-11-18 | Bloomberg | Obama Health-Care Law Is Unconstitutional, Republican Senators Tell Court | President Barack Obama ’s health-care overhaul is an unconstitutional exercise of congressional power, Republican senators said in a brief supporting Florida’s lawsuit challenging the law. Requiring people to purchase health care “oversteps the bounds” of the U.S. Constitution, 32 senators said today in the filing in f... |
2024-12-07 | Bloomberg | Bank of Montreal's Chief Downe Says He's in No Rush to Raise Dividends | Bank of Montreal Chief Executive Officer William Downe said he’s in no rush to raise dividends at Canada’s fourth-biggest bank. “It’s all dependent upon our earnings,” Downe , 58, said today in an interview. “We’re committed to increase dividends over time, but I don’t think we’re in a rush.” Bank of Montreal kept its ... |
2024-05-06 | Bloomberg | Congressional Elections Will Define Next Presidency | Several presidential candidates have called the 2012 U.S. elections the most important ever. That seems a reach: more important than 1860 or 1932? Yet there is no doubt that the stakes are high this year, not just in the contest for the White House, but also in the most crucial congressional elections in memory. The U.... |
2024-09-16 | Bloomberg | Liberty Mutual Group Settles Suit Accusing Lawyer of Extortion | Liberty Mutual Insurance Co. settled a lawsuit the insurer filed against one of its former outside lawyers claiming he tried to extort new legal work with a threat to expose misconduct by an unidentified company executive. U.S. District Judge Richard J. Sullivan in Manhattan ordered the case dismissed after receiving a... |
2024-11-16 | Bloomberg | Cyprus Gets Revised Draft of Bailout Agreement, CyBC TV Reports | Cyprus has received a revised draft of the bailout agreement from international creditors that calls for 1.2 billion euros ($1.5 billion) in spending cuts, state television CyBC reported. The International Monetary Fund , the European Central Bank and the European Commission expect Cyprus to agree to scrapping the so-c... |
2024-06-24 | Bloomberg | China Cash Crunch Puts Pressure on Small Banks, Moody’s Says | China ’s worst cash squeeze in at least a decade may weigh on smaller banks’ financial strength as their reliance on interbank funding leads to an erosion of loan margins, according to Moody’s Investors Service. Mid-sized banks got 23 percent of their funding and capital from the interbank market at the end of last yea... |
2024-09-15 | Bloomberg | Bank Values for Home-Equity Loans Said to Face U.S. Scrutiny | U.S. regulators are examining whether the nation’s home lenders have accurately valued $845 billion of home-equity and other second-lien mortgages, according to seven people with direct knowledge of the matter. The Federal Reserve and the Office of the Comptroller of the Currency have teams checking on default risks at... |
2024-07-05 | Bloomberg | Aetna Suit by Doctors Escalates Out-of-Network Dispute | A group of California doctors and medical groups accused Aetna Inc. (AET) of reneging on medical benefits, escalating a dispute over payments for care in facilities that don’t have discounted contracts with the insurance provider. More than six-dozen physicians, medical associations and surgery centers sued Aetna in st... |
2024-03-13 | Bloomberg | Volume of Volcker Rule Comments Was No Surprise, Regulators Say | U.S. regulators said they weren’t surprised by the volume of the critical comments filed by financial companies and foreign governments over the Volcker rule, which bars U.S. banks from trading for their own account. Acting Comptroller of the Currency John Walsh and Acting Federal Deposit Insurance Corp. Chairman Marti... |
2024-06-12 | Bloomberg | Inflation at 53-Year Low Belies U.S. Demand Vigor | Some Federal Reserve policy makers are citing the lowest inflation rate in at least five decades as an alarm bell for the economy. Economists at UBS Securities LLC say the figure isn’t as troubling as it appears. Consumer prices climbed 1.1 percent in the 12 months through April, according to a measure watched by the F... |
2024-10-06 | Bloomberg | Morgan Stanley-Backed Oberoi to Lead $3 Billion in India Realty IPO Sales | Oberoi Realty Ltd. , a Morgan Stanley- backed developer, began selling shares in an initial public offering today, testing demand for property IPOs in India after a five-month lull. Oberoi, which mostly develops residential real estate in Mumbai, aims to raise as much as 10.3 billion rupees ($231 million) from the sale... |
2024-09-13 | Bloomberg | Romney Re-Explains Why He Can’t Be Trusted on Health Care | Over the weekend, Mitt Romney muddied the waters about where he stands on health-care reform with a series of vague statements from himself and his campaign about health insurance for people with pre-existing conditions. His floundering is a subset of a larger problem: He has committed himself to a set of positions tha... |
2024-03-09 | Bloomberg | MMI Holdings, MTN Group, Sasol May Be Active: South Africa Stocks Preview | The following stocks may rise or fall in South Africa. Symbols are in parentheses and prices are from the last close. South Africa ’s FTSE/JSE Africa All Share Index retreated for a third day, declining 470.79, or 1.5 percent, to 31,827.42 in Johannesburg. Gijima Group Ltd. (GIJ) : The South African computer- services... |
2024-02-18 | Bloomberg | Bull Wagers Tumble Most This Year as Gold Bets Drop: Commodities | Investors cut wagers on a rally in commodities by the most since November as signs of improving U.S. growth reduced demand for gold and rains in South America added to signs that crop harvests will be bigger. Hedge funds and other large speculators reduced net-long positions across 18 U.S. futures and options in the we... |
2024-01-11 | Bloomberg | Exotix Joins Barclays in Closing Buenos Aires Office After New Regulations | Brokerage Exotix Ltd. will be “winding down” its Buenos Aires office and transferring staff to New York and London because of Argentine regulations, Managing Director Peter Bartlett said. The London-based brokerage that specializes in distressed securities is transferring its staff because of the “regulatory environmen... |
2024-10-12 | Bloomberg | China’s Stocks Rise Most in Year on Increased Government Support Prospects | China ’s stocks rallied, spurring the biggest gain for the benchmark index in a year, on speculation the government is seeking to bolster the share market after valuations dropped to record low levels. Haitong Securities Co. led a rally for brokerages after Xinhua News Agency reported regulators approved cross-border e... |
2024-06-22 | Bloomberg | U.S. Lawmakers Approve Two-Year Extension of FDIC Program | Congressional negotiators on the financial-overhaul bill agreed to a two-year extension of a program that gave companies unlimited insurance coverage for non-interest bearing bank accounts during the credit crisis. House negotiators last week proposed making permanent the Federal Deposit Insurance Corp.’s Term Asset G... |
2024-10-07 | Bloomberg | ABC-Mart, Aeon, Daiwa House, Higo Bank, Mitsubishi Motors: Japanese Stocks | Japan’s Nikkei 225 Stock Average rose 11.33, or 0.1 percent, to 9702.76 at the 11 a.m. trading break in Tokyo. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names. ABC-Mart Inc. (2670 JT) advanced 3.8 percent to 2,629 yen. The shoe retailer i... |
2024-05-11 | Bloomberg | Dog-Bite Claim Costs Rise Most Since 2007 | U.S. home insurers paid 5.3 percent more for the average dog-bite claim last year, the biggest jump since 2007, as medical expenses and jury awards increased, a trade group said. The average cost per claim climbed to $26,166 last year from $24,840 in 2009, the Insurance Information Institute said today in a statement. ... |
2024-12-22 | Bloomberg | Meredith Whitney Overreaches With Muni Meltdown Call: Joe Mysak | There will be between 50 and 100 “significant” municipal bond defaults in 2011, totaling “hundreds of billions” of dollars. So said banking analyst and new municipal bond expert Meredith Whitney on the “60 Minutes” show on Sunday, in perhaps the boldest, most overreaching call of her career. Hundreds of billions of dol... |
2024-10-26 | Bloomberg | Allstate Among Insurers Pressured by ‘Frankenstorm’ | Allstate Corp. (ALL) , Travelers Cos. and Chubb Corp. (CB) fell as a weather system that’s expected to form from Hurricane Sandy threatens to lash the U.S. East Coast, knock out power and cause travel delays. Allstate, the second-largest U.S. home and auto insurer, fell 0.9 percent to $40.15 at 4 p.m. in New York. Trav... |
2024-10-16 | Bloomberg | Wal-Mart Battle Highlights Gap Between Washington and D.C. | Last month, some of us in Washington were captivated by an epic battle on the District of Columbia Council. At the urging of labor and community groups (with backing from local businesses that compete with Wal-Mart Stores Inc. ), the council passed a living-wage law requiring businesses to pay their workers $12.50 an h... |
2024-09-07 | Bloomberg | New York Life, Insurers Fault Madoff Trustee’s Treatment in Tremont Deal | New York Life Insurance Co. and six other insurance companies assailed the $1 billion settlement the trustee liquidating Bernard Madoff ’s firm forged with Tremont Group Holdings Inc., saying it didn’t treat all of Tremont’s funds equally. As limited partners of the hedge fund’s Opportunity III fund, they said they sta... |
2024-06-30 | Bloomberg | UBS Agrees to Buy ING Australia Investment Management Unit | UBS AG (UBSN) agreed to buy ING Groep NV (INGA) ’s Australian investment management unit, adding 24.8 billion euros ($36 billion) of assets, as the Dutch bank shrinks its balance sheet after a government bailout. ING and UBS expect to complete the deal in the fourth quarter, the banks said in separate statements today.... |
2024-05-01 | Bloomberg | MetLife Posts $986 Million Profit, Beats Estimates | MetLife Inc. (MET) , the largest U.S. life insurer, reported a first-quarter profit as Chief Executive Officer Steven Kandarian expands outside the U.S. Net income was $986 million compared with a loss of $144 million a year earlier that was tied to MetLife’s narrowing credit spreads, the New York-based insurer said to... |
2024-08-10 | Bloomberg | SEC Sues Stifel Over Wisconsin School Losses Tied to $200 Million of CDOs | The U.S. Securities and Exchange Commission sued broker Stifel, Nicolaus & Co. for fraud, claiming it misled five Wisconsin school districts about the risks of complex investments that wiped out $200 million. Stifel and David Noack, a former executive, masked the risks in persuading the schools to buy notes tied to syn... |
2024-06-24 | Bloomberg | Behavioral Economists Establish a Beachhead Within Obama Administration | Peter R. Orszag , the White House budget director, plans to resign this summer, the first of President Barack Obama ’s Cabinet to do so. He leaves behind an indelible mark on two of the President’s signature issues: the $862 billion economic stimulus plan and the $940 billion health- care reform law, both of which he h... |
2024-10-14 | Bloomberg | Annan, Gates Seek Leniency for Gupta for Rajaratnam Tips | Former United Nations Secretary- General Kofi Annan and Microsoft Corp. (MSFT) Chairman Bill Gates were among the supporters seeking leniency for ex- Goldman Sachs Group Inc. (GS) director Rajat Gupta when he is sentenced in 10 days for insider trading. The letters, among more than 200 made public by U.S. District Judg... |
2024-06-21 | Bloomberg | Stocks Jump as Miners Rally on China Yuan Move; Kazakhmys, Vedanta Surge | U.K. stocks rallied to the highest level in more than a month after China signaled an end to the yuan’s fixed rate to the dollar, sparking a surge in commodity producers as metal and oil prices climbed. Kazakhmys Plc, Kazakhstan’s largest copper producer, and Tullow Oil Plc jumped more than 2 percent as copper advance... |
2024-04-23 | Bloomberg | New York City Rent Limits Left Intact by Supreme Court | The U.S. Supreme Court rejected a challenge to New York City’s decades-old rent-stabilization system, leaving intact rules capping prices on almost a million units in one of the country’s most expensive cities. The justices today turned away an appeal by James and Jeanne Harmon, who said the city was violating their co... |
2024-12-13 | Bloomberg | EU Ministers Move Toward Accord on ECB Bank Oversight | European Union finance ministers moved closer to an agreement on a single euro-area bank supervisor that could give the European Central Bank more time to take on its expanded oversight role. After 12 hours of talks, the ministers early today were considering a March 2014 target date for the new supervisor to be fully ... |
2024-02-21 | Bloomberg | Union Bank of Nigeria `Resolved' Dispute With Unions, Operations Resume | Union Bank of Nigeria Plc ended a dispute with the Nigerian Labor Congress over participation of employees in trade unionism, bank spokesman Francis Barde said. “The disagreement between the labor unions and the bank has been resolved, so things are now back to normal,” Barde said in a phone interview today from Lagos,... |
2024-04-12 | Bloomberg | BlackRock Plans Bond-Trading System, Bypassing Banks: WSJ | BlackRock Inc. (BLK) , the world’s largest money manager, is planning to set up a bond-trading system that will allow it to make transactions directly with other investors and bypass dealers, the Wall Street Journal reported. The electronic trading platform slated to start this year may cut revenue at securities compan... |
2024-04-29 | Bloomberg | Regulators Don’t Understand Structured Products, Eusipa Says | Regulators of the $1 trillion structured products market don’t understand the difference between risk and complexity, according to the European Structured Investment Products Association. Individual investors who buy the notes, which package debt with derivatives, don’t need to understand every detail of the structures... |
2024-07-12 | Bloomberg | Treasuries Gain as Growth Concern Spurs Demand for Safety | Treasuries advanced along with the bonds of other highly rated nations on concern central banks need to take more action to sustain faltering global growth, spurring demand for the safest assets. U.S. 10-year yields dropped to within five basis points of a record low, while bonds also rallied in Germany , the U.K., Jap... |
2024-07-30 | Bloomberg | Refinancing Anxiety Pushes Protection Costs to Record: Mortgages | A retiring couple in Hebron, Connecticut , that recently considered refinancing their roughly $70,000 home loan has never been more attractive to the $5.3 trillion market for government-backed mortgage bonds. The homeowners, who were leaving jobs in insurance and as a municipal worker, contacted Norcom Mortgage after s... |
2024-11-24 | Bloomberg | Orders for U.S. Durable Goods Unexpectedly Decline | Orders for U.S. goods meant to last several years unexpectedly decreased in October, raising the risk that companies will scale back on investments in new equipment. Demand for so-called durable goods dropped 3.3 percent, the biggest plunge since January 2009, after a revised 5 percent jump in September that was larger... |
2024-04-21 | Bloomberg | Toyota Extends N. American, China Output Cuts to June | (Corrects the date of production in fourth paragraph of story originally published on April 20.) Toyota Motor Corp. (7203) , the world’s largest automaker, extended production cuts at its North American and Chinese plants because of a shortage of parts after Japan’s record earthquake and tsunami last month. The company... |
2024-04-28 | Bloomberg | Buffett Disciples Want ‘Oracle’ to Come Clean: Alice Schroeder | Last month, the news broke that David Sokol , who was Warren Buffett’s presumed heir apparent at Berkshire Hathaway Inc. (BRK/A) , made $3 million from Lubrizol Corp. (LZ) stock purchases while he was pushing Buffett to buy the company. In the statement announcing Sokol’s resignation, Buffett downplayed the importance ... |
2024-09-04 | Bloomberg | Weitz Buffett-Malone Bets Best in Value: Riskless Return | Wally Weitz likes to invest with billionaires he’s known a long time. He’s been a shareholder for more than 35 years in Berkshire Hathaway Inc. (BRK/A) , run by his Omaha, Nebraska, neighbor Warren Buffett , and has held stakes in companies run by media mogul John Malone for more than 20. The investments helped Weitz’s... |
2024-08-27 | Bloomberg | California Assembly Passes Bill on Biosimilar Drug Use | Pharmaceutical makers won approval from the California Assembly to restrict generic versions of drugs isolated from natural sources, such as vaccines, known as biosimilars, once they become available in the U.S. The bill passed yesterday would require pharmacies to notify doctors and sometimes patients when a cheaper b... |
2024-12-15 | Bloomberg | Serbian Central Bank Keeps 2012 Inflation Target Unchanged | Serbia ’s central bank will keep its inflation target intact for 2012, aiming to steer consumer prices toward 4 percent by the end of next year, it said in a monetary policy program today. The Belgrade-based Narodna Banka Srbije will aim to reduce the inflation rate toward 4 percent plus or minus 1.5 percentage points ... |
2024-04-03 | Bloomberg | Lloyd Wright's Samuel-Novarro House on the Market Again | Embezzlement, Hollywood stardom and architectural fame are wrapped up in the Samuel-Novarro House . Designed in 1928 by Frank Lloyd Wright Jr. (known as Lloyd Wright), the Los Angeles home was listed for $4.195 million in November 2011. But after sitting on the market for six months without securing a buyer, the listin... |
2024-02-14 | Bloomberg | Container Rates Rising 28% as Cargo to U.S. Rebounds From Decline: Freight | Container rates on the world’s biggest international trade route are rallying after U.S. imports of manufactured goods rebounded from the first decline in two years. U.S. container imports gained 1.6 percent in the fourth quarter from a year earlier, compared with a drop of the same amount in the previous three months,... |
2024-01-07 | Bloomberg | Class-Action Limits Weighed as Court Hears Claim of Abuse | The U.S. Supreme Court weighed new constraints on class-action lawsuits, reviewing a case from an Arkansas county that companies say is rife with abusive litigation tactics and plaintiff-friendly local judges. Hearing arguments today in Washington, the justices generally voiced support for a Travelers Cos. (TRV) unit b... |
2024-04-17 | Bloomberg | Greenhill Profit Slumps 16%, Misses Estimates, as Revenue Falls | Greenhill & Co. (GHL) , the advisory firm planning to add five to 10 managing directors this year, reported first-quarter profit that missed analysts’ estimates as revenue slumped. Net income fell 16 percent to $13.6 million, or 45 cents a share, from $16.1 million, or 53 cents, a year earlier, the New York-based firm ... |
2024-03-29 | Bloomberg | China Stocks Decline for First Time in Three Days Amid Tightening Concerns | China stocks fell, dragging the benchmark index down for the first time in three days, as investors speculated the government will raise borrowing costs to cool inflation. Beiqi Foton Motor Co. sank 4.3 percent and Gree Electric Appliances Inc. (000651) dropped from a record high, pacing declines among consumer-related... |
2024-10-04 | Bloomberg | South Stream Seen Seeking $14 Billion of Loans for Gas Pipeline | South Stream Transport BV is seeking about 10 billion euros ($14 billion) of loans to help fund the joint-venture’s gas pipeline under the Black Sea , according to two people with knowledge of the financing. Advisers to the construction group, led by Russia’s gas export monopoly OAO Gazprom, met lenders last month to g... |
2024-08-08 | Bloomberg | Yamada Says Gold May Slump After July Rally: Technical Analysis | Gold may resume a slump following the July rally of 7.3 percent, the most in 18 months, said Louise Yamada , the managing director of Technical Research Advisors LLC, citing momentum and moving-average signals. The parabolic stop-and-reverse system and a death-cross formation, with the 10-month moving average below the... |
2024-04-02 | Bloomberg | Stockton Ruling Makes Public Employees a Protected Class | By allowing the bankruptcy of Stockton, California, to proceed over its creditors' objections, a judge on Monday skirted the issue that must soon be addressed in the state: whether the overly generous pension benefits promised to public employees in good economic times can be reduced when cities go belly up. "I don't ... |
2024-04-08 | Bloomberg | U.S. Home Price Rise May Cut FHA Shortfall in Obama Budget | Surging U.S. home prices could help shrink the Federal Housing Administration ’s projected shortfall in President Barack Obama ’s budget due on Wednesday. Democratic and Republican lawmakers have been pushing for changes at the FHA since a November actuarial report said its reserve fund for bad loans may require a taxp... |
2024-12-03 | Bloomberg | FirstRand of South Africa Says First-Half Profit Will Rise at Least 20% | FirstRand Ltd ., South Africa’s second-biggest financial-services company, said first-half profit will increase by at least 20 percent. “This is due to the significant gain arising from the unbundling of Momentum,” the Johannesburg-based lender said in a statement today. FirstRand merged its insurance unit, Momentum Gr... |
2024-10-12 | Bloomberg | Oil Heads for First Weekly Gain in Month on Economy, Middle East | Oil headed for its first weekly gain in a month in New York after claims for U.S. jobless benefits dropped to the lowest level in four years and increasing Middle East tensions prompted concern crude supplies may be disrupted. Futures were little changed after rising 0.9 percent yesterday. First-time unemployment claim... |
2024-07-01 | Bloomberg | Sumo Gambling Scandal Prompts Fuji Xerox to Quit Sponsoring Ancient Sport | Fuji Xerox became at least the fifth company to pull its sponsorship of Japan’s sumo wrestlers as the sport’s governing authority battles to stem the fallout of a betting scandal. Japan’s biggest maker of color copiers yesterday canceled prizes for winning wrestlers worth 540,000 yen ($6,100) for a tournament schedule... |
2024-06-15 | Bloomberg | Poland Shouldn't Cut Budget Too Much Until Growth Assured, World Bank Says | Poland should avoid cutting its budget deficit too quickly so it doesn’t choke off the economic recovery, the World Bank says. “You don’t want to tighten the fiscal policy too much and too quickly now,” said Thomas Laursen , the bank’s manager for Poland and the Baltic states, in a June 8 interview in Warsaw. The coun... |
2024-02-02 | Bloomberg | Societe Generale to Close Private Banking Office in Bahrain | Societe Generale SA (GLE) will move its private banking office in Bahrain to the United Arab Emirates as the French lender seeks to cut costs, an official at the bank said. Societe Generale decided to centralize its private banking business in the U.A.E., said the official, who declined to be identified because the mat... |
2024-12-11 | Bloomberg | Women Lacking Top Jobs Makes Yahoo CEO Exception to Rule | Women made few inroads this year in joining U.S. corporate boards or executive teams, even as high- profile appointments at companies such as Yahoo! Inc. (YHOO) spotlight the potential for greater parity. Women held 14.3 percent of executive positions at Fortune 500 companies as of June 30 and 16.6 percent of board sea... |
2024-06-23 | Bloomberg | European Stocks Tumble to Three-Month Low as Fed Cuts Forecast | European stocks sank, falling to their lowest level since March, as banks led a selloff after Federal Reserve Chairman Ben S. Bernanke cut his growth forecast for the world’s largest economy. Banco Bilbao Vizcaya Argentaria SA (BBVA) led a gauge of banks to its biggest drop in four months. Bayer AG (BAYN) slumped the m... |
2024-10-11 | Bloomberg | Toyota Found Not at Fault in Acceleration-Related Death | Toyota Motor Corp. (7203) wasn’t responsible for an accident that killed a 66-year-old woman who crashed her 2006 Camry into a tree after it sped out of control on a road in the wrong direction, a California jury said. A Los Angeles jury yesterday found that there wasn’t a defect in the Camry that contributed to the 20... |
2024-11-14 | Bloomberg | N.J. Housing-Bias Accord Scuttles U.S. Supreme Court Case | A New Jersey town settled a housing-bias lawsuit that was set for a U.S. Supreme Court hearing next month, scuttling a case that might have shielded lenders from discrimination suits pressed by the Obama administration. The Mount Holly town council today unanimously approved an accord with residents who sued over the r... |
2024-10-10 | Bloomberg | Sandusky Gets 30-Year Minimum Prison Term for Sex Abuse | Jerry Sandusky, the ex-Pennsylvania State University assistant football coach convicted of sexually abusing children, was sentenced to 30 to 60 years in prison, concluding a prosecution that tarnished the school’s image and led to the firing of head coach Joe Paterno. Sandusky, 68, appeared yesterday before Common Plea... |
2024-02-02 | Bloomberg | Ace Fourth-Quarter Profit Increases 5% on Rise in Investment Income, Sales | Ace Ltd ., the insurer added to the Standard & Poor’s 500 Index last year, said fourth-quarter profit rose 5 percent on improved returns from investments and a rise in policy sales. Net income advanced to $1 billion, or $2.92 a share, from $953 million, or $2.81, a year earlier, the Zurich-based company said today in a... |
2024-05-02 | Bloomberg | Indonesia Stocks: Astra Agro, Bank Mandiri, Sinar Mas Multiartha | Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and prices are as of the 4 p.m. Jakarta-time close. The Jakarta Composite index (JCI) advanced 29.68 points, or 0.8 percent, to 3,849.30, closing at a record for a fourth day. PT Astra Agro Lestari (AALI IJ), th... |
2024-04-15 | Bloomberg | VIX Slumps to Three-Year Low on Smaller Price Swings, Manufacturing Growth | The benchmark index for U.S. stock options tumbled to a three-year low, driven down by smaller equity price swings and a report showing manufacturing in the New York region expanded in April at the fastest rate in a year. The VIX, as the Chicago Board Options Exchange Volatility Index is known, slumped 5.8 percent to 1... |
2024-08-31 | Bloomberg | NJ Floods Keeps 10,000 Residents From Homes | New Jersey ’s northern suburbs remained in Hurricane Irene’s grip, with swollen rivers keeping more than 10,000 people from their homes and utility crews working to restore power to 190,000 customers. The state, the most densely populated in the U.S., was awaiting word on Governor Chris Christie ’s request for a federa... |
2024-04-26 | Bloomberg | Prudential Hires Standard Life’s Hunt as Head of U.K. | Prudential Plc (PRU) , the U.K.’s biggest insurer, hired Standard Life Plc (SL/) Chief Financial Officer Jackie Hunt to run its U.K. and Europe division. Hunt, 44, replaces Rob Devey, who will leave the company in October, Prudential said today in a statement. She could earn more than 3 million pounds ($4.6 million) in... |
2024-03-05 | Bloomberg | Lehman’s Caicos Calamity Saved by Luxury Comeback | More than 1,300 miles (2,092 kilometers) from New York , on the uninhabited island of West Caicos, a group of European investors are helping to pick up the pieces from Lehman Brothers Holdings Inc.’s (LEHMQ) collapse. Building is expected to resume this year at the Molasses Reef resort, according to the Turks and Caico... |
2024-02-09 | Bloomberg | ING Profit Misses Estimates After Impairments, Hedge Loss | ING Groep NV (INGA) , the biggest Dutch financial-services company, posted fourth-quarter profit that missed analysts’ estimates as measures to protect capital led to hedging losses and impairments. Net income rose to 1.19 billion euros ($1.58 billion) from 130 million euros a year earlier, the Amsterdam-based firm sai... |
2024-08-25 | Bloomberg | Google, Alabama Immigration, JPMorgan, FDIC, Swiss Accounts: Compliance | Google Inc. (GOOG) agreed to pay $500 million to settle U.S. allegations that advertising for online Canadian pharmacies on its website allowed illegal imports of prescription drugs. Google was aware as early as 2003 that the shipment of prescriptions to the U.S. from outside the country is illegal, the Department of J... |
2024-07-05 | Bloomberg | Consumer Comfort in U.S. Declined Last Week From Two-Month High | Consumer confidence dropped last week from a two-month high as fewer Americans considered it a good time to spend and their views of the economy languished. The Bloomberg Consumer Comfort Index decreased to minus 37.5 in the week ended July 1 from minus 36.1 in the previous period. Even with the drop, the measure avera... |
2024-07-26 | Bloomberg | China Coal, Foxconn, Manila Electric, Parkway: Asia Ex-Japan Stock Preview | The following companies may have unusual price changes in trading in Asia, excluding Japan. Stock symbols are in parentheses, and share prices are from the previous close, unless noted otherwise. Coal producers: China’s benchmark Qinhuangdao coal price fell 1.3 percent from a week earlier, the biggest drop in four mon... |
2024-09-19 | Bloomberg | Visa Puts at Record High as Swipe Rule Threatens Lead: Options | Visa Inc. (V) options traders are more bearish than ever, betting the company will suffer more than MasterCard Inc. (MA) from U.S. rules meant to foster competition among firms that process debit-card transactions. Three-month puts to sell San Francisco-based Visa should the stock fall 10 percent cost 1.29 times more t... |
2024-04-26 | Bloomberg | Chile's Peso Rises to Strongest in a Week on Copper, Stocks in the U.S. | Chile’s peso rose to the strongest level in more than a week as stocks and copper, Chile’s biggest export, climbed. The peso rose 0.4 percent to 519.03 per dollar, the strongest level since April 14, from 521.05 on April 23. Copper futures for July delivery gained 1.75 cents, or 0.5 percent, to $3.548 a pound on the ... |
2024-08-25 | Bloomberg | Swiss Insurers to Boost Profit Through Acquisitions, Fitch Says | Zurich Financial Services AG (ZURN) , Baloise Holding AG (BALN) and other Swiss insurers will compensate for slowing growth in their home market by making acquisitions, according to Fitch Ratings. Low interest rates and slowing economic growth are depressing earnings in a Swiss insurance market that is already “highly ... |
2024-11-05 | Bloomberg | Orcel Announces Overhaul of UBS’s Investment Banking Team | Andrea Orcel , chief executive officer of UBS AG (UBSN) ’s investment bank, is creating two client groups in an overhaul of the operation to revive profit. Corporate client solutions will include merger advisory, capital markets and financing solutions for corporate, financial institutions and private-equity firms, Orc... |
2024-09-30 | Bloomberg | Kalbe Farma Creates M&A Team to Target Health-Care Acquisitions in Asia | PT Kalbe Farma, Southeast Asia ’s largest drugmaker, created a three-person team to help it find acquisitions in the region, including producers of consumer health-care products, Chief Financial Officer Vidjongtius said. The strategic investment team was formed last quarter to identify targets costing $10 million to $5... |
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