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Financial News Network
May 11, 2011 AT 1:22 PM
This is what's in the news for Wednesday, May 11th. the Financial Times reports that AIG (AIG) and the U.S. Treasury look to sell about $8.7B in shares in the insurance group's public offering this month after scaling back plans for a larger share sale. Reuters reports that China pledged easier access for U.S. companies to key sectors of its economy by removing barriers to its huge market in government contracts and offering a foothold to U.S. mutual funds. the Associated Press reports that Google (GOOG) set aside $500M to cover the possible settlement of a Justice Department investigation into the company's online advertising system. Finally, The Detroit News reports that Chrysler (FIATY) is expected to invest $843M at its Kokomo, IN transmission plant for a new nine-speed automatic transmission for its front-wheel-drive vehicles.