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BUSINESS BRIEFS.(TO THE POINT)
FINANCE
Fannie Mae facing criminal probe
Federal investigators are looking into possible accounting fraud at the government-chartered mortgage finance company, according to published reports. The probe follows a report by Fannie Mae's regulators that management may have manipulated earnings to meet analyst targets and possibly inflate senior executives' bonuses. Shares fell 4.5% to 63.40.
Lehman may buy U.K. hedge fund
The investment bank and brokerage is negotiating to buy GLG Partners, a leading British hedge fund, according to published reports. The fund, which has $12.5 bil in assets under management and 16 funds, could garner at least $1.5 bil. Bankers from Lehman Bros. set up GLG in the mid-'90s. After it went independent in '00, Lehman retained a 20% stake. A deal would underline big banks' interest in hedge funds. Earlier this week, J.P. Morgan Chase agreed to buy a majority stake in Highbridge Capital. Lehman fell 0.5% to 79.72.
Raymond James accused of fraud
The SEC charged the brokerage firm with fraud over the ...
- XL Capital Ltd Announces Preliminary Loss Estimates for Hurricanes Gustav and...
- Press release article from: PR Newswire September 29, 2008 700+ words
...Quarter of a Percent of XL Capital Ltd's Investment Portfolio...PRNewswire-FirstCall/ -- XL Capital Ltd ("XL" or the...and preferred equity of Fannie Mae and Freddie Mac was...individual credits." XL Capital Ltd, through its operating...
- XL shares plunge on investment loss news.(News)(XL Capital Ltd.)(Market share...
- Magazine article from: Business Insurance McLeod, Douglas October 13, 2008 700+ words
Byline: Douglas McLeod HAMILTON, Bermuda-XL Capital Ltd. said last Friday that it expects to report investment...bankrupt Lehman Bros. Inc., Washington Mutual Inc. and Fannie Mae and Freddie Mac. Last Thursday, Paul Newsome, a managing...
- XL Capital Ltd Acquires ECS, Inc. and Expands North American Platform.
- Press release article from: PR Newswire June 1, 1999 700+ words
...HAMILTON, Bermuda, June 1 /PRNewswire/ -- XL Capital Ltd (NYSE: XL) ("XL Capital" or "XL") announced today that it has acquired...claims-made component which fits well with XL Capital's other casualty business. ECS will begin...
- Insurance: XL Capital Lowered by Fitch; Muni Insurer Still at Triple-A.
- Magazine article from: The Bond Buyer Meyers, Maxwell October 27, 2005 700+ words
Fitch Ratings yesterday downgraded XL Capital Ltd. to A-minus from A. The actions...XL's financial guaranty businesses, XL Capital Assurance Inc. and XL Financial Assurance...outlook. The ratings action follows XL Capital's announcement late Tuesday that the...
- A.M. Best Affirms Ratings of XL Capital Ltd and Downgrades Ratings of Its...
- Press release article from: Business Wire May 24, 2007 700+ words
...the issuer credit ratings (ICR) of "aa-"of XL Capital Ltd's (XL Capital) (Bermuda) [NYSE: XL] operating subsidiaries...subordinated debt and "bbb" on preferred shares of XL Capital. A.M. Best has also affirmed the FSR of A...
- XL Capital Ltd Invests in MKP Capital Management.
- Press release article from: PR Newswire August 9, 1999 700+ words
...HAMILTON, Bermuda, Aug. 9 /PRNewswire/ -- XL Capital Ltd (NYSE: XL) ("XL Capital") announced today that it has taken a minority...terms of the transaction were not disclosed. XL Capital Executive Vice President and Chief Investment...
- A.M. Best Affirms Rating for XL Capital Group; Assigns Debt Ratings.
- Press release article from: Business Wire March 5, 2002 700+ words
...for the core operating subsidiaries of XL Capital Ltd (NYSE: XL), Bermuda, and the...obligations issued and guaranteed by XL Capital Ltd, and assigned indicative debt ratings...indicated below. These ratings reflect XL Capital's global market capabilities, strong...
- A.M. Best Places Ratings of XL Capital Ltd and Its Subsidiaries Under Review...
- Press release article from: Business Wire July 29, 2008 700+ words
...and issuer credit ratings (ICR) of "a" of XL Capital Group (XL Capital) (Bermuda) and its members under review with...and all debt ratings of the holding company, XL Capital Ltd (Cayman Islands) [NYSE: XL], under review...