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Metlife Inc

BUSINESS
October 18, 2006 | From Reuters
MetLife Inc. said Tuesday that it had agreed to sell two adjoining Manhattan apartment complexes for $5.4 billion in one of the largest U.S. real estate transactions on record. The company said it would sell Peter Cooper Village and Stuyvesant Town to a joint venture of New York real estate developer Tishman Speyer and the realty unit of BlackRock Inc.
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BUSINESS
January 14, 2013 | By Jim Puzzanghera
WASHINGTON -- Snoopy is getting out of the banking business. Insurance giant MetLife Inc., which uses Peanuts characters as its corporate mascots, on Monday closed a deal to sell its banking assets.  GE Capital Retail Bank, a subsidiary of General Electric Co., acquired MetLife Bank's $6.4 billion in deposits and its online banking operation, the companies announced. Financial terms of the deal were not released. The move came after MetLife Bank's federal regulator, the Office of the Comptroller of the Currency, approved the transaction last month.
BUSINESS
January 6, 2006 | Kathy M. Kristof, Times Staff Writer
A San Diego County insurance broker accused of taking kickbacks from insurance companies agreed Thursday to return as much as $2 million to former clients. Universal Life Resources of Del Mar was hired by large employers such as Intel Corp. to negotiate group life and disability coverage for their workers. Authorities say Universal steered these clients to insurers who had secretly pledged to pay it kickbacks. Universal owner Douglas P.
BUSINESS
October 10, 2008 | From the Associated Press
New applications for unemployment benefits dropped last week from a seven-year high, the Labor Department said Thursday, although claims remain at elevated levels that indicate recession. And new job cuts announced after the report was released indicate Thursday's good news is likely to be short lived. Initial claims for jobless benefits dropped 20,000 to a seasonally adjusted 478,000, the department said, the same level that Wall Street economists expected.
BUSINESS
June 3, 2005 | From Bloomberg News
Citigroup Inc., the world's biggest bank, may do an asset swap with financial services firm Legg Mason Inc. that would get the former out of the mutual fund business and the latter out of the brokerage business. Citigroup may swap its $460-billion asset management business for Legg Mason's 1,540 brokers, people familiar with the discussions said Thursday.
BUSINESS
September 15, 2001 | From Bloomberg News
General Electric Co., the largest company by market value, said Friday that its third-quarter profit will be less than analysts' forecasts because of an estimated $400 million in losses at its reinsurance business after the terrorist attacks on the World Trade Center. The company said net income will be about 33 cents a share, 4 cents less than the average estimate of analysts surveyed by Thomson Financial/First Call. General Electric had profit of 32 cents a share in the year-ago period.
BUSINESS
December 8, 2010 | Bloomberg News
American International Group Inc. has struck a deal to repay a Federal Reserve credit line as the insurer seeks independence from the government. AIG will use proceeds from the sales of two non-U.S. life insurance units to repay the line, on which it owed about $21 billion as of last week, the New York-based company said Wednesday in a filing. The deal was struck with entities including the Treasury Department, which holds a $49-billion preferred stake in the company. The Treasury Department plans to convert its investment into about 1.66 billion shares of common stock, or about 92% of the total, by March 15. The stake will then be sold to private investors.
BUSINESS
February 13, 2002 | From Bloomberg News
MetLife Inc. had a loss in the fourth quarter, reflecting stagnant sales and losses on investments in Enron Corp. and Argentina. The largest U.S. life insurer also incurred expenses of $489 million as it fired staff and set aside money to settle lawsuits. The New York-based company's net loss was $296 million, or 41 cents a share, compared with net income of $591 million, or 74 cents, a year earlier. Revenue was little changed at $8.4 billion.
BUSINESS
February 17, 2011 | By Ronald D. Orol
Major U.S. banks are about to get penalized for "critical deficiencies" and shortcomings in how they handled foreclosures, a top federal regulator said Thursday at a Senate Banking Committee hearing examining the Dodd-Frank Act six months after its congressional approval. "These deficiencies have resulted in violations of state and local foreclosure laws, regulations or rules," said John Walsh, acting comptroller of the currency. Banking regulators are preparing sanctions and "remedial requirements," he said.
BUSINESS
March 2, 2010 | By Nathaniel Popper
In its biggest move yet to repay tens of billions of dollars in federal bailout money, American International Group Inc. agreed Monday to sell its Asian life insurance business for $35.5 billion. The sale of AIA Group to British insurance giant Prudential will let AIG return $25 billion to the Treasury Department and the Federal Reserve as soon as the deal closes, the New York-based company said. That would reduce AIG's bailout tab to about $70 billion from about $95 billion.
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