Political leaders urged U.S. President-elect Barack Obama on Wednesday to help forge a new economic order and lead the world out of its worst financial crisis since the 1930s. Excitement about the election of Democrat Obama as the first black …
Aon Consulting Worldwide, the global human capital consulting organization of Aon Corp., has appointed Michael Hilton senior vice president, Health and Benefits Practice leader of the San Francisco office. Hilton has more than 14 years of professional experience and will …
Standard & Poor’s Ratings Services said that its ‘A-‘ rating on Australia’s QBE Insurance Group Ltd. and its ‘A+’ ratings on QBE’s core operating entities remain unchanged following QBE’s announcement that it has completed the acquisition of Australia-based lenders’ mortgage …
The California-based PMI Group announced that it has completed the sale of its Australian mortgage insurance subsidiary and related Australian holding company to QBE Insurance Group Limited. “The aggregate sale price is U.S. $920 million, 80 percent payable in cash …
Speculation Abounds as AIG Readies to Sell Off Assets For the moment, giant American International Group (AIG) lives on government life support, for which it’s paying 850 basis points (8.5 percent) over LIBOR, effectively 11.4 percent, on an $85 billion …
U.S. congressional leaders will try again on Friday to save a $700 billion Wall Street rescue plan after talks broke down in acrimony against the backdrop of the nation’s biggest-ever bank failure. As negotiations over the White House’s unprecedented bailout …
Architects of a $700 billion bailout plan urged U.S. lawmakers to act swiftly or face dire economic consequences as global stock markets fell for a second day on growing concern the rescue may be delayed. But financial markets got a …
Goldman Sachs and Morgan Stanley sought shelter with the Federal Reserve to survive a financial storm that destroyed their rivals as Wall Street braced for a week of political wrangling over a proposed $700 billion bailout for troubled banks. Morgan …
American International Group Inc. may not sell assets for as much as it would like, as it scrambles to meet terms of its U.S. government bailout. The giant insurer narrowly avoided bankruptcy late Tuesday after the U.S. Federal Reserve agreed …
Japan’s well-capitalized and acquisitive insurers and Australia’s top player are seen as potential buyers if reeling U.S. heavyweight AIG sells assets, analysts and fund managers said. However, China’s ambitious insurers are expected to be more cautious given market turmoil at …
