Fairfax Financial reports fourth-quarter loss on hedges
TORONTO (Reuters) – Fairfax Financial Corp, the Canadian property and casualty insurer run by veteran investor Prem Watsa, said on Thursday it had a loss in the fourth quarter, as its equity hedges lost money in a strong market.
Kraft profit up on retiree benefit gain, cost savings
(Reuters) – Kraft Foods Group Inc on Thursday reported a higher quarterly profit on lower costs and a large accounting gain related to retiree benefits.
AIG raises dividend as it swings to profit, plans job cuts
(Reuters) – Insurer American International Group on Thursday raised its dividend and announced more share buybacks as its fourth-quarter earnings beat expectations, swinging to a profit compared with a year-earlier loss.
Fairfax Financial reports fourth-quarter loss on hedges
TORONTO (Reuters) – Fairfax Financial Corp , the Canadian property and casualty insurer run by veteran investor Prem Watsa, said on Thursday it had a loss in the fourth quarter, as its equity hedges lost money in a strong market.
Exclusive: World Bank aims to boost lending by 50 percent over 10 years
WASHINGTON (Reuters) – The World Bank hopes to boost its lending by 50 percent over 10 years by cutting costs, loosening a restriction on how much it can lend, and charging richer nations higher fees for some services, several people familiar with the …
Cold weather chills retail sales, jobless claims up
WASHINGTON (Reuters) – U.S. retail sales fell unexpectedly in January and more Americans filed for jobless benefits last week, the latest signs the economy started the year on softer footing as unseasonably cold weather took its toll.
Analysis – Snow blind: winter’s wrath obscures views on U.S. economy
NEW YORK (Reuters) – Interpreting U.S. economic figures in the last couple of months has taken on a familiar pattern: wonder about possible weakness in demand, and then shrug and dismiss it all as a product of bad weather.
Wall St. closes higher; Nasdaq up for sixth straight day
NEW YORK (Reuters) – Stocks closed higher on Thursday, with the Nasdaq rising for a sixth straight day, as investors looked past disappointing data on consumer spending, chalking the weakness up to weather instead of weaker fundamentals.
American to seek other carriers to fly new jets, regional unit says
(Reuters) – American Airlines Group will start looking for other carriers to operate new regional jets from Embraer after labor leaders at its American Eagle Airlines subsidiary’s pilots’ union rejected a concessionary labor contract, the unit’s presid…
BNP sets aside $1.1 billion for possible U.S. sanctions fine
PARIS (Reuters) – BNP Paribas , France’s biggest listed bank, has set aside $1.1 billion for a possible fine for breaching U.S. sanctions on countries including Iran, the latest bank to take a hit to profit from a legal investigation.
