By Sudip Kar-Gupta
PARIS (Reuters) - AXA (AXAF.PA: Quote, Profile, Research), Europe’s second-biggest
insurer, undershot expectations with its 2007 profit rise but
said it expected further growth in 2008 despite a tough
environment caused by the global credit crunch.
AXA warned the business climate remained difficult, which
analysts interpreted as a slightly bearish outlook [...]
By Jane Baird
LONDON, Feb 25 (Reuters) - HSH Nordbank’s [HSH.UL] decision
to sue Swiss bank UBS this week may be the vanguard of many
investor lawsuits against banks over investments in
collateralised debt obligations (CDOs) that have gone sour.
The German state-controlled bank said on Sunday it would
start legal proceedings against UBS [...]
By Natalie Harrison
LONDON (Reuters) - British fund managers raised their exposure to equities in February, buoyed by U.S. action to stem its sliding economy, although they remained cautious about the future, a Reuters poll showed on Thursday.
The poll of 11 UK-based investment houses showed average equities holdings in a balanced portfolio [...]
By Charlie Zhu and David Lin
SUZHOU, China, Feb 28 (Reuters) - China needs to set up a new
pension fund to put the country’s surging foreign exchange
reserves to better use and to deflect criticism over its
sovereign wealth fund, a Chinese pension fund expert said on
Thursday.
Zheng Bingwen of the Chinese [...]
By Amanda Cooper
LONDON (Reuters) - Commerzbank money managers believe the explosive rally in commodity prices ranging from wheat to gold will make this the top performing sector of 2008 and have positioned their largest fund of funds accordingly.
In light of the uncertainty over the global economic outlook and the ongoing difficulties [...]
With the Spanish property market currently experiencing its fair share of [...]
TALLAHASSEE - The House is hiring two outside consultants to look into the agency that invests state money and determine whether a multibillion-dollar run last year on Florida’s investment pool for local governments indicates a wider problem that lawmakers should address.
Tanya Styblo Beder, chairwoman of New York-based financial advisory firm SBCC, was hired to examine [...]
DETROIT - The broad-brimmed western hats, colorful festival dance dresses and Mayan-style pottery that line the shelves at Xochi’s Mexican Imports are common sights at stores in the Southwest.But it’s southwest Detroit on a cold, dreary winter day, not sunny El Paso, San Diego, Tucson or other cities just north of the Mexican border.From its [...]
NEW YORK - Cablevision Systems Corp. says it swung to a profit in the fourth quarter from a loss a year ago as it added more Internet and phone customers.Cablevision earned $6.6 million in the quarter, or 2 cents per share, compared with a loss of $23.9 million, or 8 cents per share, a year [...]
WASHINGTON - Freddie Mac on Thursday said its loss widened to $2.5 billion in the fourth quarter of 2007 as mortgage defaults mounted and falling interest rates hurt certain investments.The fourth-quarter loss was larger than Wall Street expected and compares with a loss of $401 million in the last three months of 2006.Freddie Mac, the [...]
