American International Group
reorganized Chartis, its largest unit, and named Peter Hancock as head of the property and casualty division.The European Central Bank will not unveil medium-term funding support for Irish banks on Thursday, sources told Reuters, spoiling Ireland's grand plan for nailing its banking crisis before it is even unveiled.
So much for Warren Buffett's philosophy of leaving his managers alone.
Ireland tried to draw a line under its financial crisis on Thursday by saying its banks need a further 24 billion euros ($34.11 billion) to withstand further economic shocks.
U.S. stocks were little changed on Thursday as a middling reading on jobless claims failed to dent expectations about Friday's U.S. payrolls report for March as the quarter quietly draws to a close.
New U.S. claims for unemployment benefits fell last week, further evidence of material improvement in the labor market.
Portugal's budget deficit ballooned above target last year and a disagreement at the European Central Bank threatened to undermine Ireland's plans for finally resolving its bank crisis.
Japan will repatriate more funds than markets expect to finance its reconstruction efforts following its devastating earthquake and tsunami, the co-chief investment officer of top bond fund PIMCO said on Thursday.
Japan will repatriate more funds than markets expect to finance its reconstruction efforts following its devastating earthquake and tsunami, the co-chief investment officer of top bond fund PIMCO said on Thursday.
Investors are putting their faith in Japan's ability to recover from its major disasters, barely changing their equity exposure to the stricken country despite earthquake, tsunami and nuclear breakdown.
Planemaker Boeing received at least $5.3 billion of dollars of banned U.S. subsidies, the World Trade Organization said Thursday.
U.S. stocks were little changed on Thursday, the final day of the quarter, as jobless claims fell less than expected but didn't change optimism about Friday's U.S. payrolls report for March.
Former Berkshire Hathaway executive David Sokol insisted he did nothing wrong in buying stock in a company that he then suggested Berkshire acquire, and said he has in past invested in companies he then recommended to Warren Buffett.
New U.S. claims for unemployment benefits fell last week, a government report showed on Thursday, further evidence a material improvement in the labor market was under way.
U.S. stock index futures pointed to a slightly lower open on Thursday, the final day of the quarter, as jobless claims fell less than expected, but investors were optimistic about Friday's monthly jobs data.
U.S. stock index futures were little changed on Thursday, the final day of the quarter, before weekly jobless claims data that could give insight into the U.S. employment situation.
Former Goldman Sachs trader Morgan Sze is set to launch his highly anticipated $1 billion-plus hedge fund in Hong Kong on Friday, three sources familiar with the plan told Reuters.
Baidu Inc, China's largest search engine, will shut its online e-commerce store, Youa, and migrate its users to other platforms, it said on Thursday.
The United States drove global equity issuance in the first three months of the year, stealing Asia's crown, after a spate of blockbuster U.S. IPOs backed by private equity firms.
Ireland is set to reveal up to a 25 billion euro ($35 billion) hole in its banks' capital and a radical restructuring of the sector as it releases stress test results on Thursday in a last ditch bid to calm nervous markets.
Wall Street was set to edge up on Thursday, the last day of the first quarter, extending gains a day after labor data helped to boost confidence on the prospects for economic recovery.
The Securities and Exchange Commission is investigating whether Wall Street firms sold a complex type of bond without clarifying the risks attached to it, the Wall Street Journal said, citing people familiar with the matter.
Ireland's stress tests on Thursday will reveal an additional 20-25 billion euro ($28-35 billion) hole in its banks capital and will be followed by a radical restructuring of the sector, the Irish Independent newspaper reported.
World stocks climbed to a new three-week high on Thursday and the euro inched higher ahead of the publication of Irish bank stress tests aimed at capping one of the major risks in Europe's debt crisis.
Tokyo Electric Power Co could face compensation claims topping $130 billion if Japan's worst nuclear crisis drags on, Bank of America-Merrill Lynch estimated, fuelling expectations Japan's government will step in to save Asia's largest utility.
China pushed back on Thursday against pressure from Paris and Washington for swift reform of a global monetary system that French President Nicolas Sarkozy said is so unstable that it could tip the world economy back into crisis.
Tightly controlled exchange rate regimes are the main flaw in the international monetary system and the solution is simple, U.S. Treasury Secretary Timothy Geithner told a G20 meeting on Thursday.
Most Asian shares edged up on Thursday, heading for a quarterly gain despite a sharp sell-off earlier this month after disaster struck Japan, while the yen was poised for a quarterly loss on expectations Tokyo will have to maintain super-loose monetary policy far longer than Europe and the United States.
A U.S. federal judge dismissed a lawsuit filed by a group of pension funds against Freddie Mac that claimed the mortgage finance giant had materially misrepresented its exposure to risky mortgage products, leading to investment losses.
Opposing views about how to reform the global monetary system were laid bare at a meeting of the top 20 economies on Thursday, with France setting out a bold agenda, China warning that change must be gradual and the United States saying the solution was simple.
