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South Korea will seek to sell a major state stake in Woori Finance Holdings Co. and controlling shares in its two banking units, a bailout watchdog said Friday, heralding the full-fledged start of privatizing the holding company. The Public Fund Oversight Committee said it has decided to unload “a certain amount of share or more” [...]
Insurance Firm Sues CPA for $5.7 Million
An insurance company claims that relying on false financial statements has cost it $5.7 million. Travelers Casualty & Surety Co. of America has filed a federal lawsuit against the CPA, H. Neal Privitt of Little Rock, who provided the financial statements in an attempt to recover the money. Travelers was the surety bonding company for [...]
ASIAN-BASED IGATE’S Q3 NET INCOME UP 60% AT US$14.3 MLN
US-based, Indian-focused IT outsourcing firm iGATE on Wednesday said its net income jumped by 60.67 per cent to US$14.3 million in the quarter ended September 30, 2010. The company, which earns 80 per cent of its revenue from North American markets, had registered a net income of $8.9 million in the third quarter last year. [...]
Marsh Sees ‘Modest’ Increase in Insurance Costs for Offshore Energy Risks
August 1st, 2010 
gary Losses sustained in the Gulf of Mexico will not have the same market-changing impact on the upstream energy insurance market as other major events such as Hurricane Katrina, according to a new report published by Marsh. In a release, Marsh noted that report highlights include: Following Hurricane Katrina, the market experienced massive reductions in capacity [...]
HSBC Finance Corporation Names Burke CEO
August 1st, 2010 gary Patrick Burke has been appointed Chief Executive Officer of HSBC Finance Corporation, to lead the U.S. consumer finance division. In a release dated July 28, the Company said Burke’s appointment was effective July 12. He succeeds Niall Booker in this role; Booker was recently named CEO of HSBC North America Holdings, Inc. with effect from [...]
SilverStone Group Named Best Place to Work by Business Insurance
August 1st, 2010 gary SilverStone Group has been selected as one of 2010′s Best Places to Work in Insurance by business insurance magazine and Best Companies Group. The Best Places to Work in Insurance award identifies and recognizes places of employment that are leading the way in defining the employee experience in the insurance industry. The recipient companies are [...]
UMB Financial reports earnings up
July 29th, 2010 gary Kansas-City, Mo.-based UMB financial Corp. announced earnings for the three months ended June 30 of $23 million, or 57 cents per share (57 cents diluted). This is an increase of $4 million, or 20.9 percent, compared with second quarter 2009 earnings of $19 million, or 47 cents per share (47 cents diluted). Earnings for the [...]
BOKF income up strongly for 2Q, six months
July 29th, 2010 gary BOK financial Corp. reported net income for the second quarter of $63.5 million, or 93 cents per diluted share, up from $60.1 million, or 88 cents per diluted share, in the first quarter and $52.1 million, or 77 cents per diluted share, for the second quarter of 2009. Net income for the six months ended [...]
America’s New Health Care System revealed through bewildering chart
July 29th, 2010 gary America’s New Health Care System Revealed UPDATED Chart Shows ObamaCare’s Bewildering Complexity Washington, DC – Four months after U.S. House Speaker Nancy Pelosi famously declared “We have to pass the bill so you can find out what’s in it,” a congressional panel has released the first chart illustrating the 2,801 page health care law President [...]
THE DAILY WHIPLINE – WEDNESDAY
July 29th, 2010 gary Wednesday, July 28, 2010 House Meets At… 10:00 a.m. For Legislative Business Fifteen “One-Minutes” Per Side Votes Predicted At… First vote: 1:00 – 2:00 p.m. Last vote: 7:00 – 8:00 p.m. Any anticipated Member absences for votes today should be reported immediately to the Office of the Majority Whip at 226-3210. Floor Schedule and Procedure [...]
