Ambac Financial said on Wednesday that the statutory capital of its main unit was well above a regulatory minimum at the end of the third quarter, easing concerns that the company would fall short of funds and be at risk of being taken over by state officials.
Tuesday, 10 Nov 2009 | Source: The Associated Press
Shares of Assured Guaranty Ltd. slid more than 6 percent in Tuesday aftermarket trading, after the bond insurer said acquisition and other costs will cause it to post a loss for the third quarter.
Bond insurer MBIAreported a third-quarter loss on Monday on rising writedowns of credit derivatives it insured, sending its shares down roughly 20 percent Tuesday.
MBIA Inc. said Monday that it incurred heavier losses in its insurance business than expected, saddling the bond insurer with a third-quarter loss after two straight quarters of profits.
Stocks ended lower Wednesday, despite a late attempt at a recovery, as disappointing readings on the service sector and employment situation, as well as a cautious outlook from Dow component P&G, fueled concerns about the economic recovery.
Stocks tumbled Wednesday following disappointing readings on the service sector and employment situation, as well as a cautious outlook from Dow component P&G.
Stocks tumbled Wednesday following disappointing readings on the service sector and employment situation, as well as a cautious outlook from Dow component P&G.
Stock index futures pointed to a slight rise Wednesday, despite a drop in shares for Dow component Procter & Gamble and a sharp rise in planned layoffs for July.
Unemployment hit 8.9 percent in April and some predict that number could climb to over 10 percent in 2009 as major companies streamline operations to combat the recession. But how far can this streamlining really go? For many companies, revenues hinge on worker productivity, and for most operations, per-worker profits and revenues are many multiples of average employee salaries. The measure of revenue per employee also helps shed light on a firm's money-making efficiency and likelihood it will retain jobs. The best companies require the least number of workers to make the most money.