British insurer Prudential launched its long-awaited $21 billion cash call and a delayed offensive to woo wary shareholders to back its takeover of rival AIG's Asian unit.
Britain's Prudential launched its $21 billion rights issue on Monday, finally allowing the insurer to push ahead with its acquisition of AIG's Asian insurance business.
The euro sank to four-year lows on Monday as angst over Europe's debt crisis led investors to pull more money from stocks in favor of havens such as gold and Asian bonds.
Britain's Prudential laid out the case for its $21 billion rights issue on Monday, finally allowing the insurer to push ahead with its planned acquisition of AIG's Asian insurance business.
U.S. stock index futures pointed to a lower open on Wall Street on Monday, with futures for the S&P 500 down 0.46 percent, Dow Jones futures down 0.51 percent and Nasdaq 100 futures down 0.21 percent at 3:55 a.m. ET.
Global miner BHP Billiton appeared to soften on Monday its opposition to a new Australian mining tax, saying the levy should apply only to new projects, while the government signaled it might be open to compromise.
Australia's federal government is aiming to wrap up consultation talks with miners over its plans for a new tax as soon as possible to help investment decisions, Resources and Energy Minister Martin Ferguson said on Monday.
Britain's Prudential Plc is planning to launch its delayed $21 billion rights issue on Monday, the Financial Times reported, citing a person close to the situation.
American Express Co has teamed up with UK private equity firm Permira to bid for Royal Bank of Scotland's payment-processing arm, the Financial Times reported in its Monday edition.
After holding up relatively well for the majority of the week compared to other major currencies the Aussie dollar finally gave way to a barrage of selling on Friday night falling below the 89 cent handle to a low near 0.8850 against the Greenback
The British economy is in a dire state and there will be difficult times ahead as the government takes action to tackle a record budget deficit, new finance minister George Osborne said.
Britain's Prudential Plc is expected to outline divestments of some Asian assets in its upcoming rights offering prospectus in an effort to appease shareholder concerns about its planned AIA acquisition, a source familiar with the process told Reuters on Friday.
Deutsche Bank Chief Executive Josef Ackermann cast doubt on Greece's ability to repay its debt in a TV interview and said a $1 trillion euro zone rescue package will help stabilize Italy and Spain, while the situation in Portugal is more difficult.
The Australian dollar has opened lower this morning as investors moved away from risk assets, leading to falls in equities and commodity prices.
Home loan figures in Australia fell -3.4% in March exceeding expectations as signs the Reserve Bank of Australia's rate hikes are starting to have an impact.
Portuguese leaders agreed tough new austerity measures on Thursday, joining a coordinated euro zone push that has so far calmed the markets' worst fears of a Greek-style debt crisis spreading.
UK regulators have agreed in principle to Prudential Plc's $35.5 billion purchase of AIG's Asian life insurance unit, sources familiar with the situation said, and the British insurer hopes to price its bumper rights issue within days.
British oil major BP said the oil spill in the Gulf of Mexico had cost it $450 million so far, an increase of $100 million on the figure reported earlier this week.
The Australian dollar has opened this morning close to USD0.8950 after a relatively quiet trading session overnight.
The Australian dollar is weaker once again versus the Greenback starting today at 0.8945 US.
The trade deficit hit its widest point in 15 months in March as a broadening economic recovery boosted demand for foreign goods, with a rise in exports and imports seen as a sign of growing global demand.
(Reuters) - More than two thirds of the estimated 8.8 million deaths in children under five worldwide in 2008 were caused by infectious diseases like pneumonia, diarrhea and malaria, according to a study on behalf of the World Health Organization and the United Nations Children's Fund (UNICEF).
