Ambac posts first-quarter loss
NEW YORK (Reuters) - Ambac Financial Group Inc ABK.N, a bond insurer that struggled to raise capital earlier this year, posted a first-quarter loss on Wednesday after losses of $1.73 billion on credit derivative exposures.
The New York-based company posted a loss of $1.66 billion, or $11.69 a share, compared with year-earlier net income of $213.3 million, or $2.02 a share.
(Reporting by Christopher Kaufman and Dan Wilchins; Editing by Lisa Von Ahn)
- Obama and Castro shake hands, Zuma humiliated at Mandela memorial |
- Google bus blocked in San Francisco gentrification protest
- Reporter can keep sources secret in Colorado theater shooting: court
- Couple, four children missing in Nevada found safe in canyon
- Regulators seek to curb Wall St. trades with Volcker rule |
Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more