Sprint slams Dish’s latest offer for Clearwire
(Reuters) – Sprint Nextel Corp urged Clearwire Corp to reject Dish Network’s rival bid for the wireless service provider, saying that a deal under Dish’s terms would be illegal and violate Clearwire’s agreement with its shareholders.
Regulators propose scrutiny of AIG, Prudential, GE Capital
WASHINGTON (Reuters) – Regulators on Monday proposed designating American International Group Inc, Prudential Financial Inc and GE Capital for heightened regulatory oversight, in a long-anticipated move aimed at cracking down on risks to markets.
AIG, GM rejoin S&P 500 nearly five years after bailout
DETROIT (Reuters) – American International Group Inc and General Motors Co will rejoin the S&P 500 index this week, marking a key milestone in the recovery of two companies that needed billions of dollars to stay afloat during the financial crisis.
Regulators propose new oversight of AIG, Prudential
WASHINGTON (Reuters) – Regulators on Monday proposed designating non-bank financial companies including American International Group and Prudential Financial for heightened regulatory oversight.
Bank of America $8.5 billion mortgage settlement case opens
NEW YORK (Reuters) – Bank of America Corp’s proposed $8.5 billion settlement with investors in mortgage securities that went bad during the financial crisis offers billions more than they are likely to get if they go to trial, a lawyer for the trustee …
Huntington Ingalls, General Dynamics win U.S. Navy orders
WASHINGTON (Reuters) – Huntington Ingalls Industries Inc beat out General Dynamics Corp for a larger share of a $6.1 billion U.S. Navy order for nine new DDG 51 destroyers, scoring a $3.33 billion deal for five ships that carries a 14 percent profit.
Prudential says US council proposed designating it for oversight
(Reuters) – Prudential Financial said on Monday it had received notice that U.S. regulators proposed declaring the firm is “systemically important,” a designation that would bring stricter oversight.
SAC may cut staff, offices as probe pushes investors away
BOSTON/NEW YORK (Reuters) – Steven A. Cohen’s embattled hedge fund SAC Capital Advisors is facing a much tougher and less glamorous future, as outside investors pull the bulk of their money from the firm in the wake of an ongoing insider trading probe….
Zynga slashes work force by a fifth, shares dive
SAN FRANCISCO (Reuters) – Zynga Inc announced on Monday its biggest ever round of layoffs and warned of weak bookings for the current quarter, raising doubts about the social game developer’s attempt at a recovery.
Strong pickup truck sales boosted U.S. autos in May
DETROIT (Reuters) – U.S. auto sales rose more than expected in May as construction workers and oil drillers bought more pickup trucks to meet growing demand for their services, a trend that major automakers expect to persist throughout the year.
