49296 results returned for search: "" category ("Other" AND "Business")
HARTFORD (Bloomberg) — American International Group Inc. shareholders lost as much as $1.4 billion because of a fraud that led to the convictions of five insurance executives, US prosecutors told a judge.
US District Judge Christopher Droney may sent...
DATE: Sep 26, 2008
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OSLO (Reuters) – Frontline, the world's biggest independent oil tanker shipping group, sees stronger markets and merger and acquisition opportunities in the coming months on the back of lower valuations hit by economic woes.
Norwegian-listed, Bermuda...
DATE: Sep 26, 2008
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WASHINGTON (Reuters) – US lawmakers appeared close to a final agreement yesterday on a massive $700 billion bailout to save the financial system, lifting world stock markets and sending the dollar higher.
News of a tentative agreement stabilised bele...
DATE: Sep 26, 2008
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DUBLIN (Reuters) – Ireland became the first euro zone country to slide into recession this year, with economic activity in the former "Celtic Tiger" at its weakest in a quarter of a century after its property bubble burst.
Gross domestic product (GDP...
DATE: Sep 26, 2008
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WASHINGTON (Reuters) - With Main Street up in arms over a proposed $700 billion financial bailout of Wall Street, lawmakers turned to top US officials to make the case for them that failure to act would unleash a financial armageddon.
While most cong...
DATE: Sep 25, 2008
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Flagstone Reinsurance Holdings Ltd. plans to repurchase up to 5 million shares in a move to boost shareholder value.
The Bermuda-based reinsurer had about 85.6 million shares outstanding at the end of June. At the stock's closing price on Monday of $...
DATE: Sep 25, 2008
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The fall-out from American International Group's (AIG) $85 billion bailout by the US government could open up a number of opportunities and possibilities for Bermuda's reinsurance industry.
Insurance industry expert Andrew Barile reckons several of t...
DATE: Sep 25, 2008
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TORONTO (Bloomberg) - Canadian stocks fell a third day, led by industrial and energy shares, on speculation a delay to the US's $700 billion bank bailout plan will curb economic growth and corporate spending in Canada's biggest trade partner.
Bombard...
DATE: Sep 25, 2008
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What went wrong?
AIG is often described as an "insurance giant," but the company also derives income from businesses unrelated to traditional insurance products. The crisis at AIG is driven in large part by losses on a type of financial instrument ca...
DATE: Sep 25, 2008
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PartnerRe Ltd. said yesterday it estimated it will receive claims for Hurricane Ike between $175 million and $210 million on a pre-tax basis, net of reinstatement premiums.
PartnerRe said its own "loss estimate is based on the assessment of individua...
DATE: Sep 25, 2008
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