AIG

Prudential chief executive Tidjane Thiam is pressing ahead with the faltering AIA deal, vowing to persuade shareholders to back the $35.5bn (£23.7bn) takeover of AIG's Asian business.

Neptune MD Robin Geffen has stepped up his campaign to oust Prudential's CEO Tidjane Thiam as the insurer is poised to gain FSA approval for its takeover of AIG's Asian arm AIA.

Prudential is eying the use of Lloyds-style contingent capital notes, known as CoCos, to help bolster its cash reserves and revive its £24bn takeover of Asian insurer AIA.

Prudential is planning a secondary listing on the Singapore Stock Exchange in addition to its dual primary listing in Hong Kong.

German finance minister Wolfgang Schauble has pleaded with his country's citizens to back a joint EU-IMF bail out for Greece worth up to €45bn (£40bn), warning that failure to act risks a financial meltdown.

Prudential chief executive Tidjane Thiam will not be joining SocGen as a non-executive director amid strong shareholder anger at the proposed move.

AIG is selling its American Life Insurance Company (Alico) business to rival MetLife for $15.5bn (£10.3bn), as part of its continued efforts to pay off its federal bail-out.

Sterling hit a 10-month low against the dollar last week, to the clear surprise of many advisors.

Standard & Poor's is considering cutting its rating on Prudential over leverage concerns following its $35.5bn deal to buy AIG's Asian business.

Prudential has agreed to buy AIG's Asian business for $35.5bn, which will be partially funded by a $20bn rights issue.