AP - American International Group Inc. will receive a termination fee of $230.6 million if the sale of its Asian life insurance business to Britain’s Prudential PLC falls through.
Source:AIG to get $231M if sale of Asian unit crumbles
(AP)
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AP - THE SALE: American International Group Inc. sold its American Life Insurance Co. division, or Alico, to MetLife Inc. for $15.5 billion. The deal is AIG’s second big asset sale in two weeks. On March 1, it said it would sell its AIA Group unit to Prudential PLC for $35.5 billion.
Source:Summary Box: AIG's $15.5B [...]
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AFP - US life insurance giant MetLife will acquire a unit of American International Group in a 15.5-billion-dollar deal that will help AIG pay back part of its government bailout, the firms said Monday.
Source:US insurer MetLife to buy AIG unit for $15.5 bln
(AFP)
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The Motley Fool - The first Friday of every month brings the all-important employment report. February’s numbers were better than anticipated. The United States lost only 36,000 jobs, versus the 68,000 that experts expected. This compares with 651,000 jobs lost in February 2009. Still, the unemployment rate held steady at 9.7%, with the unofficial rate [...]
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The Motley Fool - With the recent auction of Treasury’s Bank of America (NYSE: BAC - News) warrants, the big bank joins Goldman Sachs (NYSE: GS - News), Morgan Stanley (NYSE: MS - News), and several other banks in completing its exit from TARP. But, is it a buy?
Source:Is Bank of America a Buy?
[...]
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BusinessWeek - In Mint.com’s creation story, as recounted on its Web site, founder Aaron Patzer started the free online personal finance service after a tedious session with Intuit’s (NasdaqGS:INTU - News) Quicken budgeting software in 2005. It’s a measure of Mint’s success that any new complaints about Quicken should now be directed to Patzer himself. [...]
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The Motley Fool - Warren Buffett described Berkshire Hathaway’s (NYSE: BRK-A - News; NYSE:BRK-B - News) acquisition of Burlington National Railroad as a long-term bet on the American economy. In his book The Next Hundred Million: America in 2050, author Joel Kotkin presents data that supports Buffett’s thesis, arguing that despite its current economic woes, [...]
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Reuters - Sentiment of U.S. households in the top fifth of the income distribution improved in early 2010 compared with 2009, but worries over personal finances persist, a survey showed on Friday.
Source:Upper-income households report less distress
(Reuters)
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Reuters - Two AIG units settled federal charges that they discriminated against black home buyers on fees for mortgages and will pay $7.1 million for restitution and education efforts, the U.S. Justice Department said on Thursday.
Source:AIG units settle mortgage discrimination case
(Reuters)
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Reuters - Stocks jumped and the Nasdaq hit an 18-month closing high on Friday as U.S. employers cut fewer jobs than expected last month and consumers showed signs of shedding their penny-pinching ways.
Source:Wall St rallies on jobs data, consumer credit
(Reuters)
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