“I remain hopeful, although there have been many disappointments hereâ€, said Minister of Foreign Trade Paavo V?yrynen in Moscow on Monday after meeting with Russia’s Minister of Economic Development, Elvira Nabiullina.
The most important topic of the meeting involved the export tariffs imposed on raw timber by the Russian government, which is a major cause for [...]
In an unprecedented move, the Chancellor, Alistair Darling, will make an appearance at tomorrow’s board meeting of the Association of British Insurers, where the trade body will press him on a range of issues including tax and regulation.
The ABI board, chaired by Archie Kane, who runs Scottish Widows, invited Mr Darling – the first time [...]
By Emily Chasan NEW YORK, USA (Reuters): The liquidators of two Bear Stearns Cos mortgage hedge funds that collapsed last year, filed suit on Monday against the company and its auditor, Deloitte %26amp; Touche [DLTE.UL], seeking to recover over $1 billion in losses. The suit, filed in US District Court in Manhattan, accuses Bear, the [...]
It took them long enough, but it looks like U.S. politicians have finally noticed that something is very wrong with the way the financial industry is regulated.
It’s time for more regulation, said Barney Frank, the Massachusetts congressman and chairman of the House Financial Services Committee, in a speech last week. Yesterday, Treasury Secretary Henry Paulson [...]
Troubled Magna Entertainment Corp. says it needs more money soon because it can’t sell assets fast enough to pay down a smothering debt load and stay alive. The Aurora-based racetrack and gambling company revealed yesterday the deteriorating U.S. real estate market has slowed an aggressive asset sale, debt-reduction plan and will necessitate more outside [...]
NEW YORK Wall Street surged higher Tuesday after billionaire investor Warren Buffett offered to help out troubled bond insurers, easing some of the market’s concerns about further deterioration in the credit markets. The Dow Jones industrials rose almost 200 points.
In an interview on CNBC, [...]
Politicians have finally found an issue they all can agree on: Telemarketers calling at dinnertime are a scourge that must be repulsed.
Congress on Wednesday sent to President Bush two bills that would make permanent a program to protect consumers from unwanted phone calls from telemarketers. Its hallmark is the national “do not call” list.
“This initiative [...]
By Karen Brettell NEW YORK (Reuters) - Standard %26amp; Poor’s on Thursday cut its
“AAA” ratings on FGIC Corp’s bond insurance arm, and placed its
top ratings on the bond insurance arm of MBIA Inc (MBI.N) on
review for downgrade. The rating agency also said it may cut the “AAA” rating of
XL Capital [...]
U.S. stocks rallied Thursday, but still ended January with substantial losses, as a shaky market swung down on MBIA Inc.’s losses only to reverse higher when the bond insurer said it did not believe its triple-A rating was in jeopardy.”It’s MBIA’s conference call, helping financials and helping lift most everything else,” said Peter Boockvar, equity [...]
