ZURICH (Reuters) - Swiss Re <RUKN.VX> said on Wednesday the insurance sector stood to lose $4-$7 billion from the earthquake in Chile, a sum unlikely to bring the long hoped-for increase in reinsurance prices.
The world's second-biggest reinsurer estimated its own losses from the Chile disaster, one of ...More
(Reuters) - American International Group Inc <AIG.N> has formulated a new "forced ranking" system to determine bonuses and rate employee performance, Wall Street Journal said, citing people familiar with the matter.
AIG, which was bailed out by the U.S. government at the height of global financial crises in 2008 ...More
WASHINGTON (Reuters) - U.S. economists raised their forecast for economic growth in 2010 in March, the third straight monthly rise, while trimming their growth forecast for 2011, according to a survey released on Wednesday.
Economists surveyed earlier this month in the Blue Chip Economic Indicators newsletter said the economy is ...More
NEW YORK/CHARLOTTE, North Carolina (Reuters) - Bank of America said on Tuesday it will no longer charge overdraft fees on debit card purchases as of this summer, a move that may cost millions in fee income.
The change will eliminate one of the most common overdraft charges for Bank of ...More
WASHINGTON (Reuters) - Two Senate Democrats said they will propose on Wednesday placing new limits on proprietary trading by banks and nonbank financial firms, widening the 'Volcker rule' backed by the White House.
Senators Jeff Merkley and Carl Levin said in a statement they will hold a news conference on legislation ...More
NEW YORK (Reuters) - The shares of companies bailed out by the U.S. government during the financial crisis surged on Tuesday, fueled by speculation about money-making asset sales, cheap valuations and a recovery.
Citigroup Inc <C.N> stock rose as much as 8.4 percent after a prominent fund manager ...More
DETROIT (Reuters) - Toyota said on Tuesday it would fix all Tundra pickups sold in the United States for the 2000 to 2003 model years to address a risk that part of the truck's frame could corrode, causing spare tires or even the gas tank to drop to the road ...More
NEW YORK (Reuters) - U.S. consumer, financial and technology companies slashed bonuses for their chief executives by more than half in 2009, a leading firm that tracks pay data said on Tuesday, as companies moved to more closely tie executive pay to performance.
Equilar, which examines compensation practices, said preliminary ...More
NEW YORK (Reuters) - A former stock loan trader at Morgan Stanley and Bank of America Corp in New York received well over $100,000 of cash kickbacks by steering orders to other brokerage firms, the U.S. Securities and Exchange Commission said in a lawsuit filed on Tuesday.
In a ...More
WASHINGTON (Reuters) - The U.S. State Department said on Tuesday it would delay action on any new export license requests by BAE Systems Plc <BAES.L> after the British military contractor pleaded guilty to violating several U.S. laws.
BAE pleaded guilty on March 1 to conspiring to make false ...More
