Federal investigators are focusing their attention on three employees at American International Group Inc.’s financial products unit amid a probe into derivatives contracts that nearly destroyed the insurance giant, according to a report in The Wall Street Journal. In a …
The world’s second-richest man, Warren Buffett, wasn’t even the highest paid employee at Berkshire Hathaway’s 19-person headquarters again last year. Buffett, chairman and chief executive of the Omaha, Neb.-based company, received a total of $175,000 in compensation in 2008, the …
Sellers of insurance on bonds issued by bankrupt Lehman Brothers Holdings Inc. are now likely to face demands that they pay out more than 91 cents on the dollar to buyers of those insurance contracts. That’s the upshot of an …
If the struggling bond market is saved by a potential bailout, turbulence in the stock market could ease — but without a bailout, cities across the country could have difficulty building everything from sewers to schools. A string of gains …
Shares of bond insurers rose sharply Thursday on hopes the sector could receive support from a possible bailout orchestrated by New York insurance regulators. Shares of Ambac Financial Group Inc. rose $1.49 (euro1.02), or 10.9 percent, to $15.19 (euro10.36) in …
