Cayman Islands

NEW YORK - Mayor Michael Bloomberg on Thursday said there's nothing wrong with his money managers investing hundreds of millions of dollars in offshore tax havens, defending it as a practical way to make more money for his philanthropic foundation.

SAN JUAN, Puerto Rico - Global insurer XL Capital said Tuesday it wants to move its place of incorporation to Ireland from the Cayman Islands, another sign that offshore financial havens are losing some of their allure amid increased international scrutiny.

BOISE, Idaho - Property owners at four struggling and bankrupt resorts in Idaho, Montana, Nevada and the Bahamas have filed a $24 billion federal lawsuit against Credit Suisse Group, saying the banking giant gave predatory loans to the resorts' investors as part of a scheme to take over the properties.