A.M. Best Co. has downgraded the issuer credit ratings (ICR) to "bb-" from "bb" of Kingsway Financial Services Inc. (KFSI) (Mississauga, Ontario) and Kingsway America Inc. (KAI) (Elk Grove Village, IL).

STOCKHOLM (Thomson Financial) - Ericsson said it has signed a three-year managed services contract with Telefonica in Brazil, to maintain its new fiber network.

(Adds comments.) LONDON (MarketWatch) -- Citigroup Inc. Chief Executive Vikram Pandit Tuesday called for a "vigorous" debate on regulatory oversight as the crisis in the financial services industry continues. Speaking at the British Bankers' Associatio

Shares of financial services firms were mixed in premarket trading Thursday, a day after the Senate passed a revised $700 billion financial rescue plan that the House of Representatives was unable to approve earlier in the week.

Summit Financial Services Group, Inc. announced today that its wholly owned subsidiary Summit Brokerage Services, Inc., has named Michael Costantini to lead the Firm's recruiting effort.