49296 results returned for search: "" category ("Other" AND "Business")
NEW YORK (Bloomberg) — Banks holding about $120 billion in asset-backed securities that would be most affected by downgrades of bond insurers may have to write down as much as $30 billion of the debt, Moody's Investors Service said.
Downgrades of MBI...
DATE: Feb 20, 2008
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GENEVA (AP) — After seeming to have skirted the worst of the mortgage issues plaguing the financial sector, Credit Suisse revealed yesterday that it had suspended a "handful" of traders for overvaluing assets and would take a $1 billion hit to its fi...
DATE: Feb 20, 2008
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The Association of Bermuda International Companies (ABIC) has voiced its concerns over the growth of Government spending and debt loads, as well as tax increases announced in last week's Budget statement.
The organisation claimed there was nothing in...
DATE: Feb 20, 2008
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Montpelier Re Holdings saw its profits drop by more than $30 million for the fourth quarter 2007, despite net income being up for the year.
The Hamilton-based resinsurance company's net income for the fourth quarter declined from $122.1 million in 20...
DATE: Feb 20, 2008
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Platinum Underwriters Holdings enjoyed a profit-boosting set of fourth-quarter and 2007 results.
Net income for the Bermuda-based reinsurance company was up at $102.2 million or $1.60 per diluted common share for the fourth quarter of 2007, from $86 ...
DATE: Feb 20, 2008
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LONDON (Reuters) - Barclays Plc, Britain's third-biggest bank, raised its 2007 write-down on the value of risky assets to £1.6 billion ($3.1 billion) but reported profits broadly in line with analysts' expectations.
Barclays is the first big UK bank ...
DATE: Feb 20, 2008
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TOKYO (AP) - Toshiba's decision to no longer develop, make or market high-definition HD DVD players and recorders will mean consumers can start feeling more confident about buying the victorious rival technology - a Blu-ray disc player.
Analysts say ...
DATE: Feb 20, 2008
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NEW YORK (AP) - Wall Street gave up a big early advance and closed mixed yesterday after oil prices closed above $100 for the first time and stoked fears that inflation will stymie an already troubled economy.
Soaring oil prices could bring more prob...
DATE: Feb 20, 2008
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The board of Bermuda Commercial Bank (BCB) found a buyer for the bank and agreed terms — only for the controlling shareholder, First Curacao International Bank (FCIB), to pull the plug on the deal.
An agreement was reached with an interested party an...
DATE: Feb 20, 2008
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Bermuda's boat dealers have been dealt a big blow by Government's decision to raise duties on boats from 33.5 percent to 55 percent.
The increase in duties was introduced by Finance Minister Paula Cox in last Friday's budget and is set to have a sign...
DATE: Feb 20, 2008
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