(Smart Money) — WALL STREET HAS COOLED lately on Bank of America, and one reason is that CEO Brian Moynihan doesn’t think the company should chase higher profits with $35 overdraft fees on debit-card customers with insufficient funds to buy $4 lattes at Starbucks. Read more…
(Bloomberg) — American International Group Inc., the bailed-out insurer, remains in negotiations to salvage the sale of its main Asia unit after Prudential Plc requested a lower price to win shareholders’ approval. Prudential asked that the $35.5 billion price for AIA Group Ltd. be cut to about $29 billion to $30 billion, and New York- […]
(DailyFinance.com) — True/Slant, the blogging platform for journalists and other experts, is in for a major overhaul under its new owner, Forbes Media. Lewis Dvorkin, founder of the former and newly appointed chief product officer of the latter, previewed some of the changes in store during a Wednesday morning conference call with True/Slant contributors. (There […]
(NYTimes.com) — Prudential, the British insurer aiming to buy the Asian life insurance business of American International Group, postponed the start of its rights issue Wednesday because Britain’s financial regulator needed more time to test the capital ratios of the combined group. Read More…
The search giant wants to acquire the mobile advertising service but expects resistance.
(NYTimes.com) — United Airlines and US Airways are in merger talks that, if successful, would create the nation’s second-biggest airline. It is the third time in a decade that they have tried to make a deal. The negotiations represent the latest efforts to consolidate the struggling airline industry, which lost $60 billion over the last decade […]