Ambac sues Bank of America over Countrywide mortgage bonds
Ambac Assurance sues Bank of America in New York state court to recover hundreds of millions for insuring about 1.68 billion dollars of securities backed by Countrywide Home Loans mortgages. It accuses Countrywide of deceiving about underwriting of pay option ARM loans and notes losses of 3.07 billion dollars through Nov. 30.
MENTIONED IN THIS ARTICLE
Ambac Assurance Corp
Bank of America Corp
Countrywide
New York
Manhattan
Ambac
Bank of America
U.S
Charlotte
N.C
Merrill Lynch & Co
China factory activity contracts for December amid slowdown
A private HSBC/Markit PMI shows China's factory activity shrinking in December for the first time in seven months. Domestic demand weakened with new orders dipping, while exports rose slightly as policymakers weigh more easing or reforms to spur growth.
MENTIONED IN THIS ARTICLE
China
Beijing
Qu Hongbin
HSBC
HSBC/Markit
Lyft versus Uber in Pittsburgh tale of late night rides
The piece follows Lyft driver Matt Peterson who ferries young club workers after 2 or 3 a.m. He says his sexuality and read of people make riders feel safe. It contrasts Lyft’s friendly branding with Uber’s controversies and growth challenges.
MENTIONED IN THIS ARTICLE
Matt Peterson
Peterson
San Francisco
Logan Green
John Zimmer
Lyft
Pittsburgh
Uber
New York Times
Nick Bilton
Will Young
Small employers face rising health premiums and rising burdens
Small firms struggle as health insurance costs rise faster than those of larger employers. JT Solutions faced a 27 percent premium jump and contemplated 2015 increases. To curb costs the Chicago company switched to a high deductible plan with a health savings account and explored SHOP options. Blue Cross Blue Shield introduced Blue Directions private exchange for small businesses.
MENTIONED IN THIS ARTICLE
Chicago Tribune
Duane McElwain
Linda Maclachlan
YJT Solutions
JT Solutions
Chicago
Tiffany Fitting
Mercer
YJT
Fitting
SHOP
Blue Cross Blue Shield
Blue Directions
Richard Allegretti
Health Care Service Corp
Blue Cross Blue Shield of
Illinois
Allegretti
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Bofa
Elle 3 Group
Yebmissions Server
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