Financial News Wire

FDIC’s bank shot
It’s a Wall Street cash grab — for Uncle Sam. The Federal Deposit Insurance Corp., which was allowed authority in the big Dodd-Frank legislation to dig into the prodigiously deep pockets of Wall Street bankers and claw back compensation in the event their firm mounts a Lehman Brothers-like collapse…
Read more on New York Post

Research and Markets: UK Commercial Insurance Distribution 2011
DUBLIN–(BUSINESS WIRE)–Research and Markets (http://www.researchandmarkets.com/research/3b679b/uk_commercial_insu) has announced the addition of the “UK Commercial Insurance Distribution 2011″ report to their offering. This report gives a comprehensive analysis of distribution in the UK commercial insurance market. It explores issues including the growth of direct …
Read more on Business Wire

Health insurance rate hikes draw scrutiny at California’s Capitol
Speaking softly, Joseph Villela plunged into one of the Legislature’s loudest fights by telling of his mom’s plight.
Read more on The Sacramento Bee

Summit Financial Services Group Listed in South Florida Business Journal’s 2011 Fastest Growing Companies
Summit Financial Services Group, Inc. was recently listed in the South Florida Business Journal’s 2011 Fastest Growing Companies.Boca Raton, FL (PRWEB) July 07, 2011 Summit Financial Services Group, Inc. was recently listed in the South Florida Business Journal’s 2011 Fastest Growing Companies. The list, consisting of the 50 Fastest Growing companies in South Florida, highlights the region’s …
Read more on PRWeb via Yahoo! News

Lincoln Road’s Actors at Law hires out talent to read witness testimony
Manny Fernandez was defending an insurance company in Miami-Dade court when a witness, talking in a halting, Ecuadorian accent, got emotional when he recalled seeing his roommate mauled in a construction accident. “He was amazing,” Fernandez says. “I was really blown away.” The t…
Read more on Miami New Times

Small pool of NJ FamilyCare members spared from Gov. Christie budget cuts
Tim Farrell/The Star-LedgerGov. Christie pictured during a June press conference. His budget cuts spared a small pool of NJFamily Care members. TRENTON — About 1,300 working poor people without kids will remain on NJ FamilyCare, the popular state-run health insurance…
Read more on NJ.com

Heartless $$ grab in the name of a victim
A Manhattan insurance executive used the name of a prominent 9/11 victim he did not even know and, without ever telling the man’s family, started a namesake scholarship fund that never gave a red cent to college-bound students, The Post has learned. The IRS just yanked the tax-exempt…
Read more on New York Post

Italy tax hike on banks
ROME : Italy will raise over 1.8 billion euros over the next three years from an increase in tax on banks and insurance companies, the final version of its austerity budget shows.
Read more on Business Recorder

119 opt to retire from county
About 120 Sedgwick County staffers opted to take a voluntary retirement offer, but that doesn’t mean the county will be able to eliminate that many positions.
Read more on The Wichita Eagle

‘Living too long a serious threat to Indians’
Banks and other intermediaries who provide access to the National Pension System might now be a bit more forthcoming in opening pension accounts.
Read more on The Times of India

Frederick Falls on the Fourth, 3-2
In front of a packed home at Historic Grainger Stadium, the Kinston Indians held on to defeat the Keys, 3-2, and avoid a three-game sweep.
Read more on OurSports Central

Several health events scheduled for week
HUNTINGTON — A number of health-conscious classes, programs and screenings are scheduled in the Tri-State this week. Some of the activities offered in the area:
Read more on The Huntington Herald-Dispatch

Public worker pay: Some raises, some cuts
The new fiscal year starts this day — with a drastically different impact on paychecks of public employees depending on where they work. Many will see their take-home pay plummet 5 percent, plus more they have to spend on health insurance. Others will get a raise.
Read more on KHON 2 Honolulu

State budget packed with changes
In more than 4,000 pages, the two-year budget deals with everything from senior care to schoolfunding to privatization. Among the measures, the budget:• Overhauls say construction law, e
Read more on The Columbus Dispatch

The say of the wheat crop
Officials with the Texas Wheat Producer Board and Association tell us Texas is about 97 percent, and that is a tiny ahead of where farmers usually are this time of year.
Read more on KVII 7 Amarillo

Local woman travels to India for health care
CHARLESTON, W.Va. — Earlier this year, Sally Shepherd was one of more than an estimated 1 million Americans who left the country for medical care. Shepherd, a Kanawha County horse trainer and former Solid Waste Authority director, traveled to India …
Read more on The Charleston Gazette

Govt urged to do more for insurance woes
The Government is being urged to do more to support homeowners with insurance problems in quake-affected parts of Canterbury.
Read more on Newstalk ZB via Yahoo!Xtra News

State police seize second police automobile in 5 days
Indiana Say Police are investigating Zionsville police Det. Robert Anderson for allegedly misleading an insurance company to give Zionsville police the title to a automobile that was used in a crime
Read more on Zionsville Times Sentinel

Vermont Law Firm Paul Frank Collins Celebrates 30 Years in Captive Insurance
Burlington, VT-Vermont is the most successful of U.S. domiciles in the captive industry, licensing over 900 captive companies in its 30 years. Just as Vermont officials are touting the industry milestones with a 30th anniversary celebration, Vermont captive insurance law firm, Paul Frank Collins’ lawyers are reflecting on their contributions to the industry and their future role. From the …
Read more on PitchEngine

Towing & Recovery Coverage Offered by Five Star Specialty Programs
Five Star Specialty Programs, a division of Crump Insurance Services, Inc., and part of Crump Group, Inc., the nation’s largest insurance wholesaler, this day announced another opportunity as a result of the appointment with Canal Insurance Company.
Read more on PR Newswire via Yahoo! Finance

KBC Stated to Seek First-Round Bids of About .6 Billion for Polish Units
KBC Groep NV (KBC) , Belgium ’s biggest bank and insurer by market value, is seeking offers of about 2.5 billion euros (.6 billion) for its stake in Poland ’s Kredyt Bank SA (KRB) and insurance unit Warta SA, two people with knowledge of the matter said.
Read more on Bloomberg

Early retirement a scary option for your health care
Employers are getting out of the retirement insurance business. This could be worrisome for American workers who want to retire, before hitting the Medicare-eligible age of 65.
Read more on CNNMoney.com via Yahoo! Finance

MetLife Inc.
A Sterne Agee analyst estimated that insurer MetLife could get up to 0 million from Bank of America’s agreement to pay .5 billion to settle investors’ claims on bad mortgages. Analyst John Nadel also stated that a current deal to provide dental plans to military personnel could spark growth and will give the insurance company 0 million a year. He …
Read more on Boston Globe

Customers will have to pay some nuke plant repair costs
By Ivan Penn, Times Staff Writer Tuesday, June 28, 2011 Progress Energy customers can anticipate pay as much as 0 million in costs the utility will incur as it works to repair the Crystal River nuclear plant. During a conference call with investors Tuesday, utility officials stated insurance will not cover all of the expenses related to the idle plant. Specifically, customers will have to pick up …
Read more on St. Petersburg Times

TX Home Reverses Vote, Approves Budget
The Texas Legislature on Tuesday approved a budget bill that cuts billion from public schools and legislation to reform the state’s hurricane insurance association.
Read more on FOX 7 Austin

Fed Set to Cap Debit Card Fees for Merchants
The Federal Reserve appeared likely to approve a 50 percent cut in the fees that banks collect from retailers each time a customer makes a buy with a debit card.
Read more on New York Times

Bank of America anticipates loss after settlement
CHARLOTTE, N.C./NEW YORK (Reuters) – Bank of America Corp stated it anticipates to take more than billion of charges after settling with mortgage bond investors, resulting in a second-quarter loss.
Read more on Reuters via Yahoo! News