News archive 28

UPDATE 2-Prudential to keep Wachovia joint venture for now

NEW YORK July Reuters Prudential Financial Inc. the secondlargest U.S. life insurer said in a filingon Friday that it will keep a stake in a joint brokerageventure with Wachovia Corp.ltpgtlta hrefhttpfeeds.reuters.comaReutersUKbankingFinancialaqGfdXgt. [..READ ON..]

UPDATE 1-Lincoln National CEO retires, president takes over

NEW YORK July Reuters Lincoln National Corp. said on Friday its board named J. Patrick Barrett chairman andDennis Glass chief executive to replace current chairman andCEO Jon Boscia.ltpgtlta hrefhttpfeeds.reuters.comaReutersUKbankingFinancialaqYSKSgt. [..READ ON..]

Lincoln National CEO retires, president takes over

NEW YORK July Reuters Lincoln National Corp. said on Friday its board named J. Patrick Barrett chairman andDennis Glass chief executive to replace current chairman andCEO Jon Boscia.ltpgtlta hrefhttpfeeds.reuters.comaReutersUKbankingFinancialaSGZKegt. [..READ ON..]

UPDATE 4-CME beefs up CBOT bid, confident of approval

CHICAGO July Reuters Chicago Mercantile ExchangeHoldings CME said on Friday it increased its takeoveroffer for CBOT Holdings Inc. winning the vote ofCBOTs biggest shareholder and apparently sealing the deal.ltpgtlta hrefhttpfeeds.reuters.comaReutersUKbankingFinancialasqdDgt. [..READ ON..]

Bank of America to stand trial over Parmalat

MILAN Reuters A Milan judge has ordered Bank of America to stand trial for alleged marketrigging by some of its employees in connection with Italian dairy firm Parmalats collapse.ltpgtlta hrefhttpfeeds.reuters.comaReutersUKbankingFinancialaHzoeRgt. [..READ ON..]

UPDATE 2-Travelers in $449 mln asbestos settlement

NEW YORK July Reuters Travelers Cos. Inc. one of the largest U.S. property and casualty insurers said onFriday it will contribute million to a bankruptcy trust toend seven years of asbestosrelated litigation.ltpgtlta hrefhttpfeeds.reuters.comaReutersUKbankingFinancialamLAnigt. [..READ ON..]

UPDATE 1-Investor Perelman appeals Morgan Stanley decision

NEW YORK July Reuters U.S. billionaire RonaldPerelman has gone to Floridas highest state court to overturnan appeals court ruling that stripped him of a . billionjury award against Morgan Stanley .ltpgtlta hrefhttpfeeds.reuters.comaReutersUKbankingFinancialaFwBmgt. [..READ ON..]

UBS shake-up renews investment bank sale talk

LONDON Reuters The CEO shakeup at UBS has renewed calls for a sale of its investment bank to unlock the value of the core wealth management arm even though some stand by the Swiss banks view that the conglomerate strategy works.ltpgtlta hrefhttpfeeds.reuters.comaReutersUKbankingFinancialaUQKTgt. [..READ ON..]

Aviva's new CEO must woo investors to boost shares

LONDON July Reuters The new head of Britains Aviva must win over investors if he is to boost itsunderperforming shares but Andrew Moss is not expected tolaunch a strategy overhaul when he takes the reins next week.ltpgtlta hrefhttpfeeds.reuters.comaReutersUKbankingFinancialabyVgt. [..READ ON..]

Finnish M-real to sell subsidiary for $521 mln

HELSINKI July Reuters Paper maker Mreal said on Friday it has agreed to sell subsidiary Map Merchant Group Holdings to Antalis International a subsidiary of Sequana Capital SA for million euros million.ltpgtlta hrefhttpfeeds.reuters.comaReutersUKbankingFinancialawjhUygt. [..READ ON..]