International Business News - Losses http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif Aspen Insurance Holdings Ltd. on Friday said its net after tax losses for Hurricanes Ike and Gustav total about $155 million so far. For Hurricane Gustav, which hit the Gulf Coast on Sept. 1, the preliminary loss estimate is $14 million, net of reinsurance and reinstatement premiums. http://www.ibtimes.com/articles/20081010/aspen-insurance-hurricane-losses-reach-155m.htm Fri, 10 Oct 2008 10:57:19 EDT Aspen Insurance Holdings Ltd. on Friday said it lost $47.4 million in its investment portfolio this year through Sept. 30 because of the market turmoil. http://www.ibtimes.com/articles/20081010/aspen-insurance-2008-hedge-fund-losses-reach-47m.htm Fri, 10 Oct 2008 10:00:35 EDT Specialty insurer Markel Corp. said Friday it expects pretax losses tied to Hurricanes Gustav and Ike to range between $100 million and $125 million. The preliminary estimate is based on claims received and detailed policy reviews. http://www.ibtimes.com/articles/20081010/markels-hurricane-losses-could-reach-125-million.htm Fri, 10 Oct 2008 09:08:35 EDT Britain's largest union says more than 3,000 government computer jobs will be cut over the next two years. The Public and Services Commercial Union says the cuts are a result of the takeover of Electronic Data Systems Corp. by Hewlett-Packard. http://www.ibtimes.com/articles/20081008/union-3-000-british-computer-jobs-to-be-cut.htm Wed, 08 Oct 2008 10:42:57 EDT Winds from Hurricane Ike will cost insurance companies at least $553.1 million to cover property damage and other losses in Ohio, rivaling the state's costliest natural disaster of recent decades, a trade group estimated Tuesday. http://www.ibtimes.com/articles/20081007/windstorm-costs-insurers-550m-in-ohio.htm Tue, 07 Oct 2008 17:14:46 EDT Endurance Specialty Holdings Ltd., a provider of property and casualty insurance and reinsurance, late Monday said its initial loss estimate tied to Hurricanes Gustav and Ike is $145 million. http://www.ibtimes.com/articles/20081007/endurance-estimates-hurricane-losses-of-145m.htm Tue, 07 Oct 2008 10:19:25 EDT Reinsurer Arch Capital Group Ltd. said Monday it expects the effects of Hurricanes Gustav and Ike to hurt its pretax earnings in the third quarter by $105 million to $180 million. http://www.ibtimes.com/articles/20080929/arch-capital-sees-3q-losses-from-hurricanes.htm Mon, 29 Sep 2008 14:30:24 EDT Insurance and auto-finance-services provider Unitrin Inc. late Monday estimated its losses associated with recent hurricanes and investments held at failed mortgage and other financial firms. http://www.ibtimes.com/articles/20080923/unitrin-estimates-losses-from-hurricanes.htm Tue, 23 Sep 2008 09:50:23 EDT The state and New Orleans will be looking at ways possibly to mitigate the cost of hurricane evacuations to businesses. A New Orleans City Council committee was told Wednesday that the region faces a two-fold problem--trying to keep current businesses and attract new ones while not taking reckless chances by avoiding storm evacuations. http://www.ibtimes.com/articles/20080917/study-begins-on-how-to-mitigate-evacuation-losses.htm Wed, 17 Sep 2008 15:14:28 EDT JPMorgan Chase & Co.'s news that its credit losses of the past month and a half already exceed its second-quarter losses is sobering proof that an end to the credit crisis is still far off in the future. http://www.ibtimes.com/articles/20080812/credit-markets-freefall-continues.htm Tue, 12 Aug 2008 16:45:25 EDT Columbia Banking System Inc. said Wednesday that it expects to make a provision for loan losses of $15.4 million for the second quarter, citing a jump in non-accrual loans resulting from a slowing economic environment. http://www.ibtimes.com/articles/20080709/columbia-banking-loan-loss-provision-rises-in-2q.htm Wed, 09 Jul 2008 16:48:33 EDT NEW YORK--U.S. financial companies have lost more than $1 trillion in value this year, and yet another decline on Monday shows concerns aren't going away soon. http://www.ibtimes.com/data/articleimgs/87468-stocks.jpg http://www.ibtimes.com/articles/20080707/crisis-wipes-trillion-from-financial-stocks.htm http://www.ibtimes.com/articles/20080707/crisis-wipes-trillion-from-financial-stocks.htm Mon, 07 Jul 2008 16:57:23 EDT Power-tool and engine maker Briggs & Stratton says it will lay off 72 more employees from its Ozaukee County facility. Monday's announcement means about 150 workers will lose their jobs when the Port Washington facility closes October 15. http://www.ibtimes.com/articles/20080701/briggs-stratton-warns-of-wisconsin-layoffs.htm Tue, 01 Jul 2008 12:25:03 EDT General Motors Corp. and Ford Motor Co. will lose a combined $1.6 billion during the next 18 months due to plummeting sport utility vehicle and pickup truck values, according to an auto industry analyst. http://www.ibtimes.com/articles/20080620/analyst-ford-gm-to-suffer-losses-on-truck-leases.htm Fri, 20 Jun 2008 18:21:28 EDT Interstate Bakeries Corp., the maker of Hostess Twinkies and Wonder Bread, reported a smaller monthly loss Wednesday on higher sales. In a securities filing, the Kansas City-based company said it lost $9.4 million on sales of $224.1 million during the four-week period ending May 3. During the previous month, the company lost $15.4 million on sales of $210.2 million. http://www.ibtimes.com/articles/20080618/interstate-bakeries-reports-smaller-monthly-loss.htm Wed, 18 Jun 2008 12:04:49 EDT Home equity loans could be the next victim of the ongoing housing turmoil, as falling home prices and lax underwriting accelerate losses, a top U.S. banking regulator said Thursday. http://www.ibtimes.com/articles/20080522/occs-dugan-home-equity-losses-unprecedented.htm Thu, 22 May 2008 17:41:14 EDT Interstate Bakeries Corp., the maker of Hostess Twinkies and Wonder Bread, reported a larger monthly loss Wednesday, driven by lower sales and higher expenses. http://www.ibtimes.com/articles/20080521/interstate-bakeries-reports-larger-monthly-loss.htm Wed, 21 May 2008 15:26:17 EDT The impact of last week's earthquake on China's economy and state-owned companies will be "limited," a government official said Wednesday. "I think the sound momentum for economic growth will be maintained," said Li Rongrong, chairman of the state body that oversees government-owned enterprises. http://www.ibtimes.com/articles/20080521/china-state-firms-lose-billions-in-quake.htm Wed, 21 May 2008 08:53:55 EDT China's government says companies suffered $9.5 billion in direct losses from last week's earthquake. The announcement by a deputy industry minister, Xi Guohua, came during a news conference Monday. http://www.ibtimes.com/articles/20080519/china-says-quake-losses-9-5-billion.htm Mon, 19 May 2008 05:55:44 EDT Cracked dams and buckled roads, collapsed buildings and toppled factories _ China has begun to tally its losses from an earthquake this week that killed thousands and left thousands more missing, with estimates ranging to over $20 billion. http://www.ibtimes.com/data/articleimgs/46983-china-earthquake.jpg http://www.ibtimes.com/articles/20080516/china-tallies-losses-costs-from-major-earthquake.htm http://www.ibtimes.com/articles/20080516/china-tallies-losses-costs-from-major-earthquake.htm Fri, 16 May 2008 10:46:19 EDT