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Global Financial News, Breaking Financial News, Debt and Mortgage Loan Crisis News

Bond Insurers: Fight Against Detroit Bankruptcy Plan to Continue

Companies that insure Detroit bonds and stand to lose millions repeated a pledge to aggressively challenge the city’s bankruptcy plan, a day after retirees endorsed pension cuts and qualified for a bailout led by the state. Syncora and Financial Guaranty … Continue reading

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Cause of Blaze at North Dakota Oil Supply Company Unknown

More than half a day after an industrial fire broke out in the North Dakota oil patch town of Williston, N.D., authorities still were unable to say what caused the massive blaze. The fire, which started around midnight Monday and … Continue reading

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Ohio Workers’ Comp Agency Settles Overcharges Lawsuit

The Ohio Bureau of Workers’ Compensation has reached an agreement in principle to settle the San Allen case, a class action lawsuit filed in 2007 against the BWC over the pricing of workers’ comp policies that were in place between … Continue reading

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Ascent Increases U.S. Medical Billings E&O Limits, Adds Reputational Harm Cover

Ascent Underwriting, a managing general agent (MGA) specializing in emerging and professional risks, has enhanced its CyberPro medical billings errors and omissions product and increased limit availability to $5 million. The insurance product was launched at the end of last … Continue reading

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Mortgage Rates Back up to Unchanged After Stronger Start

Mortgage rates were mixed today depending on the lender and the time of day you look.  Most recently, the average lender is back to unchanged vs yesterday.  Before that, most lenders were in slightly better shape, but market weakness prompted … Continue reading

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Survey shows big city dwellers trade happiness for money

If you’re feeling unhappy with the daily grind of city life, you’re not alone. In fact, residents across some of America’s largest cities – including New York – are feeling the same way according to a new survey. A new research … Continue reading

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Boeing’s stock could see more turbulence

Boeing’s stock failed to take off Wednesday despite reporting better-than-expected earnings and raising its full-year forecast. The company reported second-quarter profit of $2.24 per share, almost a quarter above estimates, but revenue was slightly lower than Wall Street anticipated. The … Continue reading

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China probes 581 firms, restaurants as food safety scare spreads

SHANGHAI (Reuters) – China’s food regulator has visited close to 600 restaurants, businesses and food distributors as it investigates a fast-spreading food safety scare that has dragged in a number of global brands and hit food outlets as far away … Continue reading

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Carey pressured from both sides of Fox Time Warner deal to stay in job

By Ronald Grover , Jennifer Saba and Liana B. Baker LOS ANGELES/NEW YORK (Reuters) – Chase Carey, Twenty-First Century Fox’s president and chief operating officer, may be feeling pressure to stay in his job for several more years both from … Continue reading

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Workers Recover Personal Items From Washington Mudslide

Workers sifting through debris at the Oso mudslide in Washington are finding about 50 personal items a day. The Daily Herald reported they include books, photos, guns, computers and cameras. Some of the items belonged to the 43 people who … Continue reading

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