CHARLESTON, W.Va.— A utility is opposing a $2.9 million bankruptcy settlement that would fund projects to benefit 300,000 people whose water was contaminated in January. West Virginia American Water says Freedom Industries shouldn't use money from its insurance proceeds to pay for the projects.» Read More
This is a big week for the world's top-two biotechnology companies and their investors. Amgen goes before an FDA Advisory Committee Thursday about the side effects of its bread-and-butter franchise Aranesp.
Seven years after Warren Buffett's Berkshire Hathaway invested $300 million in White Mountains Insurance Group, it is selling its 16.3 percent stake in a $836 million deal.
Warren Buffett's Berkshire Hathaway will sell its 16.3 percent stake in White Mountains Insurance Group Ltd in a transaction valued at $836 million, seven years after investing in the Bermuda-based insurer, White Mountains said Monday.
Nationwide Mutual Insurance on Monday offered to buy all the publicly listed shares of Nationwide Financial Services in a $2.2 billion move to simplify the mutual company's ownership structure.
Warren Buffett's big multi-billion dollar bet that stocks won't end up lower years from now gets some attention and analysis in this weekend's Barron's. Essentially, Berkshire is using long-term options contracts as a way of selling 'catastrophe' insurance. In this case, however, the potential catastrophe isn't a hurricane or a flood, it's the possibility that stocks will wind up lower after 15 or 20 years.
First, Pfizer gave up on its inhaled insulin Exubera, then NovoNordisk threw in the towel and now it looks like Lilly is going to bow out. Alkermes, which is working on a palm-sized product called, "AIR Insulin," put out a press release today saying it expects its partner on the device, Lilly, to decide next week that it will exit the deal. ALKS shares hit a new low on the news.
Ambac Financial Group Chief Executive Michael Callen said Friday it will take several months to regain the market's confidence.
Ambac Financial Group CEO Michael Callen said on Friday the troubled bond insurer should not need to return to the market any time soon, after having raised $1.5 billion through the sale of shares and convertible securities.
Investor Wilbur Ross said he bought about $1 billion of U.S. municipal bonds last Friday because yields had risen to "relatively unparalleled" highs compared with taxable Treasuries.
Hard-hit bond insurer Ambac Financial Group's plans to raise at least $1.5 billion in new capital are not enough to fix its capital adequacy problem, analysts at Goldman Sachs and J.P. Morgan Securities said.
After Ambac's bailout went bust, what can possibly help the struggling financials?
Ambac's plan to raise up to $1.5 billion in capital is nearly complete, bankers say, which should help the troubled bond insurer keep its crucial triple A debt rating.
Ambac Financial Group announced plans to raise up to $1.5 billion in capital in an attempt to keep its crucial triple A debt rating.
Shares in Ping An Insurance opened sharply higher on Thursday after shareholders approved the company's plan for an equity issue that could raise some $17 billion.
In a series of exclusive live appearances on CNBC's Squawk Box this morning, Warren Buffett told us that by a "common sense definition", the U.S. economy is already in a recession, even if it hasn't met the technical definition of two consecutive quarters of negative growth. He restated, however, his view that over the long-run the U.S. economy will do fine and that each generation will live better than the one before it.
Warren Buffett's just-released annual letter to shareholders features a blistering attack on what he calls the "fanciful figures" of Corporate America's accounting, especially when it comes to assumptions about pension fund returns. He says those assumptions are far too optimistic, designed to boost short-term earnings at the expense of future retirees.
THIS IS A LIVE BLOG OF WARREN BUFFETT'S APPEARANCE ON CNBC'S SQUAWK BOX DURING THE 6am ET HOUR. BUFFETT IS LIVE AT THE NEBRASKA FURNITURE MART (A BERKSHIRE HATHAWAY SUBSIDIARY) IN OMAHA WITH OUR BECKY QUICK TO ANSWER YOUR EMAIL QUESTIONS.
American International Group shares fell 7 percent on Friday, a day after the world's largest insurer reported a $5.29 billion quarterly loss.
Swiss Re, the world's biggest reinsurer, made better than expected 2007 net profit, as it escaped further subprime writedowns in the fourth quarter, and gave a confident earnings outlook.
Billionaire investor Wilbur Ross will take a stake of up to a billion dollars in bond insurance company Assured Guaranty.
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