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What's In The News: May 12, 2011

Financial News Network
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May 12, 2011 AT 2:48 PM
This is what's in the news for Thursday, May 12th. Reuters reports that AIG (AIG) and the Treasury Department said they will sell about $9B in AIG stock, but sources familiar with the situation said the Treasury would pull the sale if it cannot be done profitably. Reuters reports that Deutsche Boerse management told its shareholders today it was confident its offer for NYSE Euronext (NYX) worth about $10.6B would succeed over a rival offer. the Associated Press reports that Fed Chairman Bernanke is expected to tell the Senate Banking Committee today that the Fed will unveil new regulations this summer that would protect the economy from a meltdown of the biggest banks and financial companies. Finally, Nikkei reports that Toyota (TM) is planning to increase production at its U.S and Chinese plants.