Business
Feb
Buffett’s Berkshire muscles into Thai reinsurance
HONG KONG/BANGKOK (Reuters) – Warren Buffett’s Berkshire Hathaway is pushing into the Thai reinsurance market and selling cover for higher rates, taking advantage of the retreat of competitors such as France’s CCR after they suffered losses from last year’s floods. Originally posted from Buffett’s Berkshire muscles into Thai reinsurance
Feb
U.S. wants more talks on Japan bid to join Pacific trade group
WASHINGTON (Reuters) – The United States said on Wednesday it was still considering whether to support Japan’s bid to join talks on a trans-Pacific regional free trade agreement, three months after Tokyo announced interest in the negotiations. Originally posted from U.S. wants more talks on Japan bid to join Pacific trade group
Feb
HP profit plummets, CEO urges patience
SAN FRANCISCO (Reuters) – Hewlett-Packard Co’s earnings fell nearly 44 percent and the world’s No. 1 computer maker forecast a second-quarter profit below Wall Street estimates as it struggles with weak sales of PCs and printers. Originally posted from HP profit plummets, CEO urges patience
Feb
Greece pores over bailout laws amid protests
ATHENS (Reuters) – Trade unionists, communists and pensioners angry at punishing spending cuts in Greece marched through central Athens on Wednesday as lawmakers set to work on legislation needed to secure payment of a second bailout for the debt-laden country. Originally posted from Greece pores over bailout laws amid protests
Feb
G20 hopes for progress on EU debt crisis: Carstens
MEXICO CITY (Reuters) – Group of 20 policymakers are hoping for a signal this weekend that Europe will boost crisis funding, smoothing the way for a deal to increase International Monetary Fund resources, the head of Mexico’s central bank said on Wednesday. Originally posted from G20 hopes for progress on EU debt crisis: Carstens
Feb
Treasury says Europe needs solid debt firewall
WASHINGTON (Reuters) – It is “critical” that Europe put up a convincing firewall against the risk of financial contagion from its debt crisis before more aid from the International Monetary Fund is discussed, a top Treasury Department official said on Wednesday. Originally posted from Treasury says Europe needs solid debt firewall
Feb
Burned before, Fed officials cautious on rebound
WASHINGTON (Reuters) – U.S. central bank officials have good reason to be skeptical about the strength of the economy: excessive optimism has caught them flat-footed before. Originally posted from Burned before, Fed officials cautious on rebound
Feb
Analysis: Goldman’s top brass gun for cash bonuses
(Reuters) – While Wall Street slashes pay and freezes cash awards, Goldman Sachs Group’s top five executives may reap special bonuses of $10.5 million apiece if the firm hits historically easy profit targets over the next two years. Originally posted from Analysis: Goldman’s top brass gun for cash bonuses
Feb
Exclusive: Palo Alto Networks, other tech firms tee up IPOs
NEW YORK (Reuters) – A series of technology companies, including security software maker Palo Alto Networks, are preparing to go public on the heels of Facebook’s $5-billion filing, sensing a window of opportunity as the stock market rallies. Originally posted from Exclusive: Palo Alto Networks, other tech firms tee up IPOs
Feb
JPMorgan, Citi, BofA sued for $949 million by Sealink
NEW YORK (Reuters) – JPMorgan Chase & Co., Citigroup Inc., Bank of America Corp. and more than a half dozen other major banks are being hit with a new lawsuit over $949 million in residential mortgage-backed securities. Originally posted from JPMorgan, Citi, BofA sued for $949 million by Sealink