SYDNEY (Reuters) - Suncorp-Metway Ltd (SUN.AX: Quote, Profile, Research), an
Australia general insurer and bank, missed estimates with a 28
percent fall in first-half profit, hurt by the global credit
crisis and severe weather events, sending down its shares 8
percent.
Suncorp’s claims expenses jumped 22 percent to A$2.18
billion ($2.1 billion) after large-scale flooding and storms in
eastern Australia […]
Dexia SA, the worlds biggest lender
to local governments, said fourth-quarter net income fell less
than analysts estimated as higher profit from public-finance
projects compensated for asset writedowns.
Net income declined 25 percent to 587 million euros ($891
million) from 786 million euros a year earlier, Dexia, […]
WASHINGTON
- Using words like “sluggish” and “deteriorated,” Federal Reserve Chairman Ben Bernanke gave a starkly pessimistic assessment of the nation’s economy on Thursday and signaled that the Fed will cut interest rate cuts further if needed to combat the adverse effects of a prolonged housing slump and […]
The following list comprises the
most-read Bloomberg News reports from the past week.
*T STORIES:
1. Buffett Bids for MBIA, Ambac Municipal Bond Contracts (2/12)
2. AIG Discloses `Weakness in Derivative Accounting (2/11)
3. Auction-Bond […]
WASHINGTON
- Using words like “sluggish” and “deteriorated,” Federal Reserve Chairman Ben Bernanke gave a starkly pessimistic assessment of the nation’s economy on Thursday and signaled that the Fed will cut interest rate cuts further if needed to combat the adverse effects of a prolonged housing slump and […]
WASHINGTON
- Using words like “sluggish” and “deteriorated,” Federal Reserve Chairman Ben Bernanke gave a starkly pessimistic assessment of the nation’s economy on Thursday and signaled that the Fed will cut interest rate cuts further if needed to combat the adverse effects of a prolonged housing slump and […]
WASHINGTON
- Using words like “sluggish” and “deteriorated,” Federal Reserve Chairman Ben Bernanke gave a starkly pessimistic assessment of the nation’s economy on Thursday and signaled that the Fed will cut interest rate cuts further if needed to combat the adverse effects of a prolonged housing slump and […]
NEW YORK
- It doesn’t take highly paid Wall Street analysts to figure out why corporate earnings are trending toward their worst performance in six years.With roughly half the companies in the Standard %26 Poor’s 500 having reported fourth-quarter results, banks and brokerage have proven to be the […]
European stocks snapped a three-day
rally on mounting speculation that banks will post more losses
and the U.S. economy will slip into recession.
Natixis SA, Frances fourth-largest bank by market value,
plummeted after saying full-year earnings will decline more than
50 percent on writedowns. UBS AG sank […]
NEW YORK
- Finding a place to hide out during the credit crisis is getting trickier now that bad debts are haunting some seemingly secure corners of the marketplace.You’d think nonfinancial companies would be safe from the housing and mortgage market collapse. Not so. Pharmaceutical company Bristol-Myers Squibb […]