Generali agrees to sell its reinsurance business to Scor for EUR 579 million. Last Tuesday, Generali announced its agreement to sell its US life reinsurance business to Scor.

Asian stocks swing from gains and losses while the US manufacturing unexpectedly contracted. Asian benchmarked stocks swung between gains and losses regardless of the optism that the Federal Reserves will keep its record of monetary stimulus.

Continental Grain Co announced to finally end its long-term ownership with Smithfield to prevent further proxy battle.

Calpers is planning to sell its entire 4% stake in Carlyle that is valued at US$373.3 million. After 12 years of being managed by Carlyle Group LP, a private equity manager firm, the California Public Employees' Retirement System plans to sell its total 4% stake.

GM rejoins S&P 500 replacing H.J Heinz Co. H. J Heinz Co. will be replaced by General Motors Co. (GM) in the Standard & Poor's 500 Index. This is after the trade closing on June 6.

Australian surfwear company Billabong ended takeover talks and looks at its refinancing options instead.

President Xi Jinping offered a total of US$3 billion loans to 10 Caribbean nations however no direct confirmation was made by the Chinese government.

Sprint overthrows US$3.40 bid per share of Dish to a US$4.40 bid per share for Clearwire. (Photo : Reuters)People passing by a Sprint store in NYC. Sprint Nextel Corp has urged Clearwire Corp to reject the offered bid made by Dish Network.

AIG, GE Capital and Prudential Financial confirm receipt of notification for regulatory oversight. (Photo : REUTERS)American International Group Inc, the insurer rescued by the U.

Steven A. Cohen is at the brink of cutting down a number of his staff after more investors are expected to pull out their money.