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Daily NewsFlash : August 07, 2013

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Wednesday, August 07, 2013

Halliburton Plea May Aid BP in Oil Spill Battle

BPBP appeared to gain an edge in the battle over liability for the 2010 Gulf of Mexico spill, after Halliburton abandoned one of its arguments that tried to paint the British oil company as unconcerned about well safety.

Halliburton, which did the cementing work for BP's well, pleaded guilty to destroying evidence o...

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AIG CEO: Company Looking at IPO of Airplane Lease Subsidiary If Proposed Sale Fails

AIG plane leasing companyAmerican International Group has declared its first dividend since its 2008 federal bailout, and said it is preparing to spin off its airplane-leasing unit via an initial public offering later this year if the proposed $5.28 billion sale falls through.

"We are continuing to negotiate with the c...

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Feature: LEGENDS Addresses Today’s Environmental Liability Challenges with Creative Solutions in the Marketplace

LegendsIt's no surprise that innovation, creativity, and vision are at the heart of what has made Legends Environmental Insurance Services, LLC successful for 40 years when you see how Bill Lohman, president of th...

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Freddie Mac Logs $5 Billion Profit

Freddie Mac profitsFreddie Mac reported a $5 billion profit during the second quarter, the second-largest quarterly profit in the company's history and the latest reminder of how surging profits at Freddie and its larger sibling, Fannie Mae, could reshape the debate over the firms' futures.

The ...

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Citigroup Ordered to Pay Investor $11 Million

Citigroup payment to investorA FINRA arbitration panel has ruled that Citigroup and one of its former branch managers must pay an investor more than $11 million combined in compensation for losses related to an investment in a foreign bank.

The claimant, John Fiorilla, a legal adviser to the Holy See, came to Citi...

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Some in Industry Question Washington Supreme Court Ruling Making Insurers Liable for Agents' Actions

Insurance agency liabilityThe Washington state Supreme Court handed down a ruling that will make insurers liable for illegal activities of their agents.

The Aug. 1 decision reverses an earlier Court of Appeals ruling. "When the statute forbids the insurer or its agent from certain conduct, it mean...

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Additional Aid Approved for Texas Fertilizer Plant Blast

FEMA approval of funds to TX plantThe U.S. Federal Emergency Management Agency (FEMA) approved additional funding Friday to help rebuild a central Texas town where an April fertilizer plant explosion killed 15 people and leveled homes and schools.

FEMA initially denied Texas' application for major disaster funding, prev...

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