NEW YORK - New York Gov. Eliot Spitzer said Thursday a plan by the state’s insurance regulator to bail out struggling bond insurers is making good progress amid fresh worries about the financial industry.Spitzer said the plan is mindful the federal government might soon take a more active role. Among those advising the state on [...]
NEW YORK — As bad news about the financial system piles up, trust — the pillar of investing — is being buried.The most recent fears are tied to the potential failure of bond insurers, the companies that back the funding for hospitals, schools and other public works. A meltdown there could deliver another devastating blow [...]
Chinas Stocks Fall to 6-Month Low; Index Has 2nd Worst Month
By Zhang Shidong
Jan. 31 (Bloomberg) — Chinas stocks fell to a six-month
low, with the benchmark having its second-worst monthly
performance on record. Coal producers China Shenhua Energy Co.
dropped on concern [...]
Axa, Danske, Kaupthing, Novo Nordisk: European Equity Preview
By Lynn Thomasson
Jan. 31 (Bloomberg) — The following is a list of companies
whose shares may have unusual price changes in Europe. Stock
symbols are in parentheses after company names, and prices are
from the [...]
Tata Chemicals to Buy General Chemical for $1 Billion (Update3)
By Gautam Chakravorthy
Jan. 31 (Bloomberg) — Tata Chemicals Ltd., part of Indias
second-largest business group, agreed to buy U.S.-based
General Chemical Industrial Products Inc. for $1 billion to
become the worlds second-largest maker [...]
NEW YORK - MBIA Inc. reported a $2.3 billion fourth-quarter loss Thursday, but the bond insurer’s executives struck a defiant tone in telling investors its business is fortified against turbulence on the credit markets and worthy of a top-notch rating.”Our own conclusion is that the market has overreacted to the real and obvious problems that [...]
TOKYO - Sony’s PlayStation game business stopped losing money for the first time in six quarters, helping the company to post a 25.2 percent jump in October-December profit.Solid demand for liquid crystal display TVs and digital cameras also helped results, the Japanese electronics and entertainment company said, which brought the world Walkman portable players and [...]
36.6, Seeking to Halt Losses, Will Open Fewer Stores (Update1)
By Maria Ermakova
Jan. 31 (Bloomberg) — OAO Pharmacy Chain 36.6, Russias
largest drugstore company, will open fewer stores this year as it
seeks to halt at least three consecutive quarters of losses. [...]
Bang Overseas Offer Gets 1.23 Times Demand: India IPO Alert
By Paresh Jatakia
Jan. 31 (Bloomberg) — The following is a list of public
share sales by Indian companies and those set to take place in
the next 12 months: [...]
MBIA Posts Biggest Loss, Considers New Capital Plans (Update8)
By Christine Richard
Jan. 31 (Bloomberg) — MBIA Inc., the worlds largest bond
insurer, posted its biggest-ever quarterly loss and may raise
more capital to offset a slump in the value of subprime-mortgage
securities. [...]
