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Buffett invests in Swiss Re as insurers hurt
ZURICH - U.S. investor Warren Buffett shored up weakened world No. 2 reinsurer Swiss Re with a 3 billion Swiss franc ($2.6 billion) investment on Thursday as the Swiss group wrote down twice that amount in toxic assets.
People:Warren Buffett Activities:Global Financial Crisis
2009-02-05
Prudential to Sell Wachovia Stake to Wells for $3.7 Billion
NEW YORK -- Prudential Financial Inc. said Thursday it plans to sell its minority stake in retail brokerage Wachovia Securities to Wells Fargo and has applied to tap into the Treasury's capital purchase program.
Activities:2008 Wachovia Deal
2008-12-04
Damage Control at Insurance Companies
Individual investors aren't the only ones scared to look at their portfolios. Insurance giants are also watching their holdings wither, a situation that could have serious implications for their customers and the markets. The biggest independent life insurer, MetLife, reported total paper losses of $12.2 billion on its $340 billion portfolio. "You have to plan for things to be depressed for the next few quarters at a minimum," says Steven A. Kandarian, chief investment officer at MetLife. (NYSE:MET - News)
Nations:U.S. Source:(BusinessWeek)
2008-11-15
Dow ends flat but suffers worst 1st half since '70
NEW YORK (Reuters) - The Dow and S&P 500 were little changed on Monday on the final trading day of the second quarter as record oil boosted energy shares, offsetting weak financial stocks amid nagging concerns of further credit losses.
People:Carl Icahn Activities:U.S. Markets
2008-06-30
Prudential shuts down stock research, trading arm
Prudential Financial Inc. (NYSE:PRU) said on Wednesday that it will shut down its stock research and trading business, in the insurer's latest pullback from a rocky 26-year stay on Wall Street.
People:Eliot Spitzer
2007-06-06
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