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What's In The News: June 23, 2011

Financial News Network
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June 27, 2011 AT 12:02 AM
This is what's in the news for Thursday, June 23rd. The Wall Street Journal reports that GM (NYSE:GM) and the Obama administration are divided over how to get the U.S. out of the company. GM wants a share sale soon, and the administration has a goal of selling its remaining 27% stake in August or September, after GM's next quarterly results are released. Bloomberg reports that AMR's (NYSE:AMR) American Airlines is in talks with Airbus SAS (PINK:EADSY) about buying 100 or more narrow-body planes, possibly ending its reliance on Boeing (NYSE:BA) planes. TechCrunch reports that PopCap Games is in the process of being acquired, and multiple sources say the price tag for the acquisition is over $1B. Though it has been rumored that potential buyers of the company could be Zynga or Tencent, other sources have indicated that the buyer is Electronic Arts (NASDAQ:ERTS). The Financial Times reports that Aviva (NYSE:AV) is slated to sell RAC, its roadside rescue business to the Carlyle Group for $1.6B. Finally, The Associated Press reports that Australia's Telstra (PINK:TLSYY) reached a $12B deal with the government to participate in the rollout of a fiber optic national broadband network.