Elon Musk, Tesla Motors CEO, tells the Reuters Global Tech Summit that he'll talk to politicians who back local car dealers trying to keep Tesla from selling directly to consumers. Video
TOKYO - Asian shares tumbled to nine-month lows on Thursday as slowing Chinese manufacturing activity exacerbated sentiment already unnerved by the U.S. Federal Reserve Chairman Ben Bernanke confirming the Fed would begin reducing its stimulus spending later this year.
DETROIT - A new company hopes to make the car-buying process easier for consumers and more efficient for dealers by bringing cars to buyers for test drives, avoiding the need to spend hours at a dealership.
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.
Prudential top bidder for Hartford life insurance business: Bloomberg
CHICAGO (Reuters) - Insurer Prudential Financial Inc. has emerged as the top bidder for the individual life insurance business of rival The Hartford Financial Services Group Inc, a sale that could be worth roughly $1 billion, Bloomberg reported on Saturday.
A possible deal between the No. 2 U.S. life insurer Prudential (PRU.N) and The Hartford (HIG.N) is still weeks away and could crumble, Bloomberg reported, citing two people with knowledge of the matter.
Under pressure from hedge fund manager and shareholder John Paulson, The Hartford said in March that it was shedding most of its life insurance-related businesses and focusing on property insurance.
At the end of July, it struck a deal to sell its Woodbury Financial Services brokerage unit to insurance giant American International Group Inc. (AIG.N)
Among the other companies interested in The Hartford's life insurance business is Birmingham, Alabama-based Protective Life Corporation (PL.N), Bloomberg reported.
Prudential and The Hartford declined to comment. Protective did not immediately return requests for comment.
(Reporting By Eric Johnson; Editing by Xavier Briand)
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