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UK's Prudential prices cash call, to woo investors

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.

Euro plumbs 4 year low

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.

Oil dips below $70 in Asian trade

Global oil prices continued losses in Asian trade Monday and dropped below $70 a barrel for the first time in three months. Light sweet crude for June delivery was seen trading at $ 70.09 a barrel at 11.30 a.m Singapore time after hitting as low as $69.82 a barrel earlier. In London, Brent crude was seen at $76.53 a barrel at the same time.

UK's Prudential prices record $21 billion cash call

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.

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Private equity firm Apollo in talks to buy Pactiv Corp: report

Private equity firm Apollo Global Management is in talks to buy U.S. packaging maker Pactiv Corp in a leveraged deal, the Wall Street Journal said, citing people familiar with the situation.

Neff Rental files for Chapter 11 bankruptcy

U.S. equipment rental company Neff Rental Inc filed for a prearranged Chapter 11 bankruptcy protection late Sunday in order to shrink its balance sheet and eliminate more than $400 million of debt.

Gold sails towards new record in Asia

Gold prices moved up smoothly in Asian trade Monday and inching towards a new record as the euro tumbled to a 4 year low against the dollar. Gold for immediate delivery was seen trading at $1239.97 an ounce at 11.30 a.m Singapore time while U.S. gold futures for June delivery was at $1241.03 an ounce at the same time.

China frets over rising capital inflow pressure

Capital inflows are placing big pressure on China this year, as domestic companies and banks repatriate large volumes of foreign currency, a senior official said in remarks published on Monday.

Astellas agrees to buy OSI Pharma for $4 billion

Astellas Pharma , Japan's No.2 drugmaker, agreed to buy U.S. biotech OSI Pharma for $4 billion in cash in a sweetened bid that allows it to add OSI's blockbuster cancer drug Tarceva to its line-up.

Australian dollar outlook 17/5/2010

The Australian dollar has opened weaker this morning trading at US$0.8850 following another risk aversion sell of in the markets.

Daily forex forecast - 17/5/2010

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

JPMorgan's Dimon urges next generation to improve U.S.

JPMorgan Chase & Co Chief Executive Jamie Dimon told Syracuse University graduates on Sunday he was confident the United States would see a recovery in the short term, but the country's condition over the longer term was in the hands of the next generation.

U.S. economy still needs further boost: Romer

The U.S. economy has begun to climb out of the worst downturn since the 1930 Great Depression but still needs additional steps by the federal government to stem a crisis in the job market, a senior economic adviser to President Barack Obama said on Sunday.

Euro-zone troubles may roil stocks

U.S. stocks could face more volatility this week as growing doubts about whether Europe can solve its deepening debt crisis are likely to take center stage again.

GE Capital plans another benchmark Islamic bond: executive

GE Capital, a unit of General Electric Co. , plans to issue its second Islamic bond in late 2010 or in 2011, a senior executive said on Sunday.

Greece to probe U.S. banks' role in crisis: PM

Greece may investigate U.S. investment banks and their role in the run-up to the Greek debt crisis which has shaken faith in euro zone economies, Prime Minister George Papandreou said in comments broadcast on Sunday.

UBS may face U.S. suits if parliament kills deal: Swiss minister

UBS N> could face lawsuits in the United States if the Swiss parliament fails to agree to a deal passing data on the bank's U.S. clients to U.S. tax authorities, Switzerland's finance minister said.

Greece says to probe U.S. banks role in debt crisis: PM

Buggy maker Maclaren agrees to compensate

The baby buggy manufacturer Maclaren has agreed to compensate more than 40 British children who suffered injuries from the use of their buggies.

Google says mistakenly got wireless data

Google Inc said its fleet of cars responsible for photographing streets around the world have for several years accidentally collected personal information -- which a security expert said could include email messages and passwords -- sent by consumers over wireless networks.

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