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UK’s Pru to buy AIG Asia unit for $35.5 billion (Reuters)

Posted on March 1st, 2010

The logo of British life insurer Prudential is seen on their building, in London October 21, 2008. REUTERS/Stephen HirdReuters - Britain's Prudential will buy American International Group's Asian life insurance arm for $35.5 billion in the insurance sector's biggest deal ever, helping the bailed-out U.S. group repay a big chunk of its taxpayer debt.


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FDIC to grease mortgage market with $1.8 bln deal (Reuters)

Posted on March 1st, 2010
Reuters - The U.S. Federal Deposit Insurance Corp is planning to sell $1.8 billion of guaranteed asset-backed debt, according to IFR, in what may be a step toward restoring confidence in securities closely tied to the financial meltdown.

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Summary Box: Corporate dealmaking lifts stocks (AP)

Posted on March 1st, 2010
AP - IN LIKE A LION: Stocks began March with hefty gains after several corporate buyouts raised hopes that the economy is strengthening. American International Group, owned mainly by taxpayers, sold its Asian life insurance business to Britain's Prudential for $35.5 billion.

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UK’s Pru to buy AIG Asia unit for $35.5 bln (Reuters)

Posted on March 1st, 2010

The logo of British life insurer Prudential is seen on their building, in London October 21, 2008. REUTERS/Stephen HirdReuters - Britain's Prudential will buy American International Group's Asian life insurance arm for $35.5 billion in the insurance sector's biggest deal ever, helping the bailed-out U.S. group repay a big chunk of its taxpayer debt.


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How the major stock indexes fared on Monday (AP)

Posted on March 1st, 2010
AP - Major stock indexes rose to their highest levels in more than a month Monday after corporate buyouts raised hopes about the economy. The biggest boost for the market came from insurer American International Group, which agreed to sell its prized Asian life insurance business to Britain's Prudential for $35.5 billion. It is seen as a sign of confidence in the economy when big businesses go ahead with takeovers.

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MBIA narrows 4Q loss to $242 million (AP)

Posted on March 1st, 2010
AP - MBIA Inc. said Monday that its loss narrowed in the fourth quarter, although losses from mortgage-related securities continued to hammer the bond insurer.

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Wall St gains on AIG deal (Reuters)

Posted on March 1st, 2010

A trader works on the floor of the New York Stock Exchange February 25, 2010. REUTERS/Brendan McDermidReuters - U.S. stocks rose for a second straight day on Monday, boosted by AIG's record-setting deal to sell a major Asian unit and on gains in semiconductor shares after SanDisk Corp raised its revenue forecast.


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