Global Economy
ACE to Buy 69% Stake in Thailand Insurer, Siam Commercial Samaggi
ACE Limited (ACE) said it has agreed to purchase a 60.9 percent stake in The Siam Commercial Samaggi Insurance PCL, a general insurance company in Thailand, from Siam Commercial Bank. Established in ...
China’s Fosun Buys 80% of Portugal Insurer for $1.36 Billion
China's Fosun International Ltd. bought 80 percent of Portugal's Caixa Geral de Depositos SA's insurance unit for 1 billion euros ($1.36 billion), beating out U.S. buyout firm Apollo Management ...
U.S. Oil Output Poised to Reach 43-Year High in 2015
The U.S. Energy Information Administration said on Tuesday oil production in the United States will reach a 43-year high in 2015 as output grows from shale fields. The United States will produce 9.3 ...
Mexico to Mandate Auto Coverage in Push Toward ‘Culture of Insurance’
President Enrique Pena Nieto is giving the car insurance market a boost with a plan to mandate policies on federal highways in Mexico, where almost three in four drivers lack coverage. Congress ...
Regulation-Fueled ‘Collateral Crunch’ Not Expected in 2014
If pension funds, insurers and sovereign wealth funds were hoping to cash in on lending "high-quality" assets to those scrambling to meet tougher collateral requirements in 2014, they are likely to ...
200-Plus Startups Launched in Ride-Sharing, Handbag-Borrowing Revival
Rayshauna Gray makes frequent trips around New England from her home in Cambridge, Massachusetts. The 27-year-old doesn't own a car and says she can't imagine ever wanting to. It takes two minutes ...
Federal Financial Crisis Warning Office Struggles to Be Relevant
In June 2009, a small group of academics sent an envoy to a Washington, D.C., think tank to pitch their vision for a research office to help the nation avoid the next financial crisis. The idea was ...
Biggest Hurdles Yet to Come in Strengthening Global Financial System
"What a week," tweeted European Union financial services chief Michel Barnier last Thursday after securing an agreement on how to wind up failed banks without making the region's taxpayers foot the ...