What's In The News: June 30, 2011

Financial News Network
July 01, 2011 AT 12:57 AM
This is what's in the news for Thursday, June 30th. the New York Post reported that the Federal Reserve Board set a 21c cap on debit card transaction fees, an increase from 12c, a move that will allow the banks to retain $5B-$7B of the $15B they would have lost. The Telegraph reports that Lloyds Banking Group (NYSE:LYG) will cut 15,000 jobs as part of an effort that will lead to GBP1.5B of annual cost savings by the end of 2014. The Wall Street Journal reports that American Airlines (NYSE:AMR) is in active negotiations with Airbus (PINK:EADSY) and Boeing (NYSE:BA) to replace about 38% of its current fleet by purchasing at least 250 aircraft, valued at about $15B. Bloomberg reports that Hewlett-Packard (NYSE:HPQ) CEO Leo Apotheker says the company is in talks to license its webOS software to other manufacturers. Finally, the Herald Sun reports that UBS (NYSE:UBS) will acquire ING's (NYSE:ING) Australian investment management arm for an undisclosed sum.