AABP EP Awards 728x90

Insurance

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Lowe’s controls labor costs, improves earnings

Lowe’s Cos. Inc., the second-largest U.S. home-improvement retailer, said third-quarter profit increased 17 percent as it controlled labor expenses in the housing slump to counter slower-than-forecast sales growth, Bloomberg reported. Net income rose to $404 …

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Forget the “Dogs”


Dear Mr. Berko:

What do you think of the Dogs of the Dow strategy to beat the market? Our investment club treasurer, who is a CPA, wants to use a money manager who will charge …

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Court decision on annuities helps American Equity sales


American Equity Investment Life Holding Co. reported record sales of annuities during the third quarter of 2010, “with average monthly sales volumes exceeding $400 million.” A court’s decision on how to classify the insurance product …

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Selzer’s Bloomberg poll finds investors pessimistic


According to the latest Bloomberg Global Poll, investors around the world say President Barack Obama is bad for the bottom line, even though U.S. corporations are on track for the biggest earnings growth in 22 …

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Wellmark seeks 10.8 percent premium increase

Citing continued increases in health-care costs, Wellmark Blue Cross and Blue Shield is seeking a 10.8 percent premium increase for the majority of its individual policyholders in Iowa next spring.

If Wellmark’s request is approved …

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Fed: Banks must pass stress test to raise dividends

Federal Reserve Governor Daniel Tarullo said this morning that banks seeking to increase dividends will be required to undergo a stress test showing they would have sufficient capital for two years. Concerns that bank capital …

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Foreclosure activity down in October, partly due to stalled processing

The number of U.S. homes taken over by banks fell by 9 percent in October, according to real estate data company RealtyTrac Inc.

Lenders foreclosed on 93,236 U.S. residence properties, down from a record high …

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FDIC revises deposit insurance fees

The Federal Deposit Insurance Corp. (FDIC) yesterday took initial steps to implement a new asset-based fee structure that will cost the nation’s largest banks more to shore up the deposit insurance system. Under the Dodd-Frank …

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Bankruptcy cases up in 2010

Bankruptcy cases filed in federal courts in fiscal year 2010 totaled 1,596,355, according to the Administrative Office of the U.S. Courts. That number is up 13.8 percent from fiscal 2009. Business filings dropped for the …

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American Equity reports slight third quarter decrease

American Equity Investment Life Holding Co. reported third-quarter operating income of $27.6 million, or 45 cents per share, a 2 percent decrease from the third quarter of 2009.

Net income for the third quarter was …