Newcourt investor voices doubts about CIT offer

Article Abstract:

CIT Group Inc's takeover offer for Newcourt Credit Group Inc has dropped in value by $400 million since the deal was announced Mar 8, 1999. The drop has prompted a large Newcourt shareholder to question the soundness of the transaction. CIT offered 0.92 share of its stock for each Newcourt share, a deal that had a value of $28.29 a share or $4.2 billion at the time. A merger will create one of the largest non-bank financial institutions in North America with $50 billion in assets.

Asset sales & divestitures, Acquisitions & mergers, Nondepository Credit Intermediation, Nonbank Credit Institutions, Financial institutions, Newcourt Credit Group Inc.

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Insurers, brokers reviewing hidden commissions

Article Abstract:

The Canadian property and casualty insurers paid $290-million in hidden commission to the hosts of insurance brokers who sold their products and raised issues of conflicts of interest and quiet incentives. This practice gained prominence because of widening investigations in the U.S. industry led by the New York's crusading Attorney General, Eliot Spitzer.

Public affairs, Ethics, Ethical aspects, Property and casualty insurance industry, Insurance brokers, Commissions (Compensation), Commissions (Fees)

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Doubts raised about bank's rate hike

Article Abstract:

Doubts have been raised about the need for the Bank of Canada to raise interest rates in 2003. The bank's study of car insurance premiums has caused economists to doubt the interest rate hike.

Commodity & service prices, Direct Property and Casualty Insurance Carriers, Research and Development in the Social Sciences and Humanities, Interest Rates, Economists, Auto Insurance, Prices and rates, Beliefs, opinions and attitudes, Powers and duties, Automobile insurance, Company pricing policy, Canada. Bank of Canada

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