76370 results returned for search: "" category "Business"
NEW YORK (Bloomberg) — Life insurers may get looser reserve requirements in time for their end-of-the-year results, Washington DC Insurance Commissioner Thomas Hampton said.
"We want to make sure we give the companies sufficient time" to apply new ru...
DATE: Dec 19, 2008
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Bermuda reinsurer IPC Holdings Ltd. has had its A (excellent) financial strength rating affirmed by AM Best.
But Best has maintained its negative outlook on the rating because it believes IPC has not optimised its use of capital.
"The negative outloo...
DATE: Dec 19, 2008
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Zurich Financial Services (ZFS), of Switzerland, has agreed to pay a $25 million penalty, plus $1 million in disgorgement, for participating in an allegedly fraudulent finite risk arrangement involving its Bermuda office and two Bermuda reinsurers, I...
DATE: Dec 19, 2008
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NEW YORK (Bloomberg) — American International Group Inc. was sued by Duke University for failing to pay legal costs tied to the school's court battle with lacrosse team members falsely accused of charges they sexually assaulted a stripper.
An AIG uni...
DATE: Dec 19, 2008
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TORONTO (Reuters) - Bleak economic data and mounting job losses are prompting Canadians to be more frugal this holiday shopping season than they have been in the past few years, and retailers are already discounting prices in reaction, and watching t...
DATE: Dec 19, 2008
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Retailers are keeping their fingers crossed there will be a rush of last-minute shoppers in the final week before Christmas.
Traders from Hamilton to St. George's are still hopeful of seeing an upturn in sales with six days to go before Christmas Day...
DATE: Dec 19, 2008
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NEW YORK (Bloomberg) — Bermuda-domiciled Ingersoll-Rand Co., the maker of Thermo King and Hussmann refrigeration equipment, said profit will fall short of fourth-quarter and full-year estimates after key markets deteriorated faster than anticipated.
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DATE: Dec 19, 2008
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NEW YORK (Bloomberg) — Nike Inc., the world's largest athletic-shoe maker, said second-quarter profit rose, helped by sales in Europe and Asia.
Net income climbed 8.8 percent to $391 million, or 80 cents a share, in the three months ended November 30...
DATE: Dec 19, 2008
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NEW YORK (Bloomberg) — Bail for Bernard Madoff, alleged mastermind of a $50 billion fraud, should be revoked because he may flee, New York lawmaker Anthony Weiner said.
It would be a "mistake not to consider him a flight risk", Weiner, a Brooklyn Dem...
DATE: Dec 19, 2008
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Standard & Poor's Ratings Services yesterday revised its outlook on Bermuda-based White Mountains Insurance Group Ltd. and OneBeacon Insurance Group Ltd. to negative from stable.
S&P said it affirmed its 'BBB' counterparty credit ratings on White Mou...
DATE: Dec 18, 2008
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