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AIG Group Tied to Swaps Draws Focus of Probes
Government probes of American International Group Inc. (NYSE:AIG) have cast a spotlight on its entrepreneurial financial-products business, which has been the source of profits and controversy over the years.
As Microsoft Walks Away, Yahoo Enters Google Ad Pact
Microsoft Corp. (NASDAQ:MSFT) abandoned its pursuit of Yahoo Inc., (NASDAQ:YHOO) opening the way for Yahoo to complete a search-advertising pact with rival Google Inc. (NASDAQ:GOOG) that pits the industry’s two biggest forces against Microsoft.
Anheuser Courts an Ally in Mexico
Anheuser-Busch Cos. (NYSE:BUD) has begun preliminary talks with Mexico’s Grupo Modelo SA (MXK:GMODELOC) about a possible combination of the two brewers that could help the St. Louis beer giant thwart an unsolicited $46.35 billion bid from InBev NV (EBR:INB) of Belgium, said people familiar with the matter.
Stock Futures Edge Lower Ahead of Inflation Data
Stock futures edged lower Friday ahead of data on inflation, as companies from US Airways (NYSE:LCC) to a Greek bottler of Coca Cola struggle to combat surging commodity prices.
NYSE Plans to Revise Specialist-Trader Rules
The New York Stock Exchange is planning to unveil a series of proposed new rules Friday in an effort to turn around its falling market share.
Lehman Shuffles 2 Key Jobs In Bid to Restore Confidence
Facing a credibility crisis with investors, Lehman Brothers Holdings Inc. (NYSE:LEH) replaced its president and its chief financial officer, showing that the bloodletting on Wall Street is far from over.
US Airways to Cut Fleet, Jobs, Domestic Capacity
US Airways Group Inc. (NYSE:LCC), emulating some of its larger airline rivals, said it plans to cope with surging prices by reducing its domestic capacity, cutting its aircraft fleet, eliminating 1,700 jobs and tacking on a raft of new passenger fees to increase revenue.
Dollar Heads for Biggest Weekly Gain in Three Years Before G-8
The dollar headed for its biggest weekly gainin more than three years against the euro on speculation officials from the Group of Eight nations meeting on the weekend will signal they favor a stronger U.S. currency.
Foreclosures Rise 48% in May as U.S. Bank Repossessions Double
Banks repossessed twice as many homes in May and foreclosure filings rose 48 percent from a year ago as falling house prices trapped borrowers in mortgages they couldn’t afford, RealtyTrac Inc. said in a report today.
U.K. Forces Short-Selling Disclosure in Rights Offers (Update3)
The U.K. will demand disclosure of short selling in rights offerings and may restrict investors from borrowing the stocks after plunging share prices hampered banks’ attempts to increase capital.
Goldman, Banks Discount ‘Big Brother’ Loans by 27.5%
Banks led by Goldman Sachs Group Inc. (NYSE:GS) plan to sell loans used in the leveraged buyout of Endemol NV, the Dutch television producer of “Big Brother,” for as little as 72.5 cents on the dollar, said four people with knowledge of the deal.
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