financial crisis
New British venture eyes state-rescued bank assets
A new venture is being launched to compete for acquiring retail banking assets bought by the British government at the height of the financial...
Europe imposes caps on banker bonuses, insurance companies could be concerned
The European Parliament sounded the death knell for unrestricted bonuses for some bankers and traders in Europe on Wednesday when it approved limits due...
BIBA concerned that consumers and businesses will be hit by increasing insurance costs
The British Insurance Brokers’ Association (BIBA) is disappointed that the Government has announced increases to Insurance Premium Tax (IPT) in today’s budget.
BIBA believes that...
Bailed out insurer American Insurance Group and China Strategic Holdings have agreed to extend the deadline for completing AIG’s planned $2.2 billion sale of its Taiwan unit
While the extension could help AIG and its buyers address concerns from Taiwanese regulators, the longer the transaction is stretched out the less likely...
72% of financial advisors say the recent financial crisis has made their Boomer clients more risk-averse
Nearly three-fourths (72%) of financial advisors surveyed by MetLife in its new Lessons Learned Advisor Poll say the recent financial crisis has made their...
US recovery on track despite European debt concerns
Better-than-expected economic indicators are pointing to an on-track US recovery, even as European debt concerns cast a shadow over the world's largest economy.
Strong housing,...
Belgium’s KBC sells unit to India’s Hinduja group
Belgian lender KBC said Friday it has sold its Luxembourg private bank unit to India's Hinduja group for 1.35 billion euros (1.7 billion dollars)...
Austrian inflation stable at 2.0 percent in April, insurance costs also up
Austrian inflation remained stable in April at 2.0 percent, on the back of continued high fuel prices, official data showed on Tuesday.
The Austrian consumer...
British bank RBS says will axe 2,600 jobs, mostly in insurance division
Britain's state-rescued lender Royal Bank of Scotland announced on Monday that it plans to axe 2,600 jobs.
The bank, which is 83-percent owned by the...
IMF proposes global bank tax plans
The International Monetary Fund has proposed two new global taxes on banks and other financial institutions to cover the cost of future bailouts, the...
China’s Huijin to issue 80 billion yuan in bonds
The domestic investment arm of China's sovereign wealth fund has been given the green light to raise 80 billion yuan (11.7 billion dollars) through...
AIG considers action on Goldman
Insurance giant AIG may pursue Goldman Sachs on losses from six billion dollars of insurance deals similar to those that prompted recent SEC fraud...
Energy insurers must cope with rising power demand unchecked by the recession
The economic recession has barely dented global usage of electricity in the long term leaving both power generators and their insurers having to cope...
Bulgaria ups health tax to fund hospitals
Bulgaria's government voted Wednesday to raise health insurance payments in a move to end doctors' protests and pump more money into its underfunded hospitals.
The...
US insurance giant AIG has agreed to sell its Asian arm, AIA, to British insurer Prudential for around 35 billion dollars
US insurance giant AIG has agreed to sell its Asian arm, AIA, to British insurer Prudential for around 35 billion dollars (26 billion euros,...
Swiss Re edges back to profit-making
One of the world's biggest reinsurers, Swiss Re, on Thursday reported a 506-million-Swiss-franc annual net profit in 2009, edging away from a record loss...
Goldman Sachs CEO apologises
Goldman Sachs Group chief executive Lloyd Blankfein (which received the second largest payback from AIG over CDS contracts) said his firm "participated in things...
Bailout puts £1.5tn on UK debt
An estimated £1.5 trillion will be added to the national debt as a result of the financial crisis, the Office of National Statistics (ONS)...
New US weekly jobless claims fall
US jobless insurance claims are trending lower from a March peak, official data confirmed Thursday, but unemployment within a fraction of 10 percent challenges...
Swiss Re returns strong profit in third quarter and announced 1,000 jobs cuts
Swiss Re, one of the world's biggest reinsurers, on Tuesday returned to strong profit in the third quarter, cautiously turning its back on losses...
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