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Amid all the financial turmoil impacting the US markets, The Royal Gazette/Bermuda Stock Exchange (BSX) Index enjoyed a quiet day, dropping 26.21 points (0.61 percent).
The Index traded 7,800 shares worth $110,100 to close down at 4,282.03.
Among the...
DATE: Sep 18, 2008
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The impact of Hurricane Ike on the re/insurance industry is expected to be "manageable" due to the capital strength of the sector.
That is the view of AM Best Co., which has begun to assess the potential financial effect Ike might have on the propert...
DATE: Sep 18, 2008
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NEW YORK (Bloomberg) — The US government took control of American International Group Inc. in an $85 billion bailout to prevent the bankruptcy of the nation's biggest insurer and the worst financial collapse in history.
The Federal Reserve will provi...
DATE: Sep 18, 2008
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LONDON (Reuters) – British bank Lloyds TSB has agreed to buy rival HBOS Plc to create a £28 billion ($50 billion) mortgage company, reports said yesterday, the latest troubled bank to be forced into the arms of a better-funded rival.
The BBC said HBO...
DATE: Sep 18, 2008
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LONDON (Bloomberg) — Barclays Plc, the UK's third- biggest bank, may buy parts of Lehman Brothers Holdings Inc.'s European investment bank after agreeing to acquire the bankrupt securities firm's North American business for $1.75 billion.
Barclays pl...
DATE: Sep 18, 2008
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NEW YORK (AP) - Wall Street plunged again in a crisis of confidence yesterday as anxieties about the financial system still ran high after the government's bailout of insurer American International Group (AIG) Inc. The Dow Jones industrial average dr...
DATE: Sep 18, 2008
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Bermuda's international insurance sector felt the full effects of the fallout from the turmoil impacting the US financial markets yesterday.
Wall Street plunged after the US government bailed out American International Group (AIG), with the Federal R...
DATE: Sep 18, 2008
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NEW YORK (Reuters) – Manic and increasingly desperate dealmaking gripped Wall Street as shares of investment banks Morgan Stanley and Goldman Sachs plummeted amid more signs of distress in the global financial industry.
Morgan Stanley was discussing ...
DATE: Sep 18, 2008
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NEW YORK (Reuters) – Washington Mutual Inc, the giant US savings and loan beleaguered by mortgage losses, has put itself up for sale, sources familiar with the matter said yesterday.
The Seattle-based thrift has hired Goldman Sachs & Co and Morgan St...
DATE: Sep 18, 2008
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For the second day running, Butterfield Bank shares were the only stock traded on the Royal Gazette/Bermuda Stock Exchange.
Butterfield Bank closed at $14.15, up $0.05 (0.33 percent) after 13,650 shares changed hands.
The Bermuda Insurance Index clos...
DATE: Sep 17, 2008
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