NEW YORK - With the broad S&P 500 Index gliding once again into uncharted territory and posting four straight weeks of gains, the talk of Wall Street's rally inevitably hitting a ceiling is starting to get old.
LONDON - From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
AIG may replace banks in next share offer
PHILADELPHIA (Reuters) - American International Group plans to replace one or more Wall Street banks in its next sale of shares from the U.S. government, The Wall Street Journal reported on Sunday.
AIG has not yet decided which investment banks it would cut, but it plans to make changes in the lead underwriters before the next share sale later this year, Chief Executive Robert Benmosche told the newspaper.
Benmosche was disappointed in the bank's efforts to drum up interest in the previous offering, the newspaper said.
Only one or two of the four lead firms will change in the lineup, the report said. Some bankers have contacted AIG in an effort to protect the assignment, it said.
AIG's recent share offering was led by Bank of America Corp, Deutsche Bank AG, Goldman Sachs Group Inc and J.P. Morgan Chase.
(Reporting by Jessica Hall; Editing by Vinu Pilakkott)
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