76418 results returned for search: "" category "Business"
NEW YORK (Bloomberg) — Banks may lose $5 billion to $7 billion if bond insurers including those owned by MBIA Inc. and Ambac Financial Group Inc. lose their top ratings, less than what other analysts estimate, Morgan Stanley analysts said yesterday.
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DATE: Feb 05, 2008
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Bermuda-based bond insurer Ram Holdings Ltd. said yesterday it is exploring ways to improve its capital position after Moody's put its financial strength rating on review for possible downgrade.
In a response to the Moody's action, Ram also said: "Du...
DATE: Feb 05, 2008
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TORONTO (Reuters) - The Toronto Stock Exchange's main index slid yesterday as gains in the energy sector were undercut by profit-taking among bank and gold issues.
The S&P/TSX composite index closed down 60.21 points, or 0.45 percent, at 13,258.16 wi...
DATE: Feb 05, 2008
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LONDON (Bloomberg) - Billionaire Richard Branson's Virgin Group Ltd. submitted a reduced £1.25 billion ($2.5 billion) plan to take over Northern Rock plc. after Luqman Arnold's Olivant Advisers Ltd. dropped out of the contest.
Virgin and its backers ...
DATE: Feb 05, 2008
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It proved to be a quiet day on The Royal Gazette/Bermuda Stock Exchange Index yesterday.
Butterfield Bank and BF&M Ltd. both traded 5,414 and 80 shares respectively, but their share prices remained unchanged.
Overall, the Index also held firm at 4,77...
DATE: Feb 05, 2008
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Bermuda insurer Axis Capital last night announced a record year-end profit of more than $1 billion in only its sixth year of operation.
Axis chief executive officer John Charman hailed the results as "a magnificent achievement" and put it down to the...
DATE: Feb 05, 2008
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AUTHOR:
Jonathan Kent
PartnerRe saw its profits fall by more than $60 million for the fourth quarter 2007.
The Bermuda-based insurance company's net income was down at $180.6 million or $3.04 per share for the fourth quarter from $242.7 million, or $4.03 per share for the...
DATE: Feb 05, 2008
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XL Capital Ltd. has appointed Celia Brown, executive vice-president and head of global human resources and corporate relations, to its executive management board.
Ms. Brown was promoted to her current position in 2006, where she oversees the company'...
DATE: Feb 05, 2008
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XL Capital today reported a fourth-quarter loss of $1.06 billion after it took a battering from its exposure to the sub-prime mortgage crisis.
The global business insurer took a $1.5 billion charge “related to credit market conditions”, more than $90...
DATE: Feb 05, 2008
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The impact of a global or US recession on Bermuda's employment market could be wide-reaching, depending on the extent of the economic downturn.
That is according to Douglas Soares, partner at employment services firm Expertise Ltd., who reckons a sho...
DATE: Feb 05, 2008
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