Boeing will take a nearly $5 billion charge in the second quarter to compensate 737 Max customers as the planes remain grounded.Airlinesread more
Earlier, Williams delivered a speech at the annual meeting of the Central Bank Research Association in which he said, "It's better to take preventative measures than to wait...The Fedread more
Stocks in Asia Pacific traded higher on Friday morning, as comments from a U.S. Federal Reserve official led to rising expectations the central bank could ease monetary policy...Asia Marketsread more
A man suspected of torching Kyoto Animation reportedly doused the studio's entrance with what appeared to be petrol and set it ablaze on Thursday.Asia Newsread more
Trump said the USS Boxer destroyed Iran's drone in the Strait of Hormuz on Thursday in a "defensive action."Politicsread more
Microsoft beat on top and bottom lines, and guidance was just ahead of expectations, but the company's Azure growth is slowing down.Technologyread more
"We've seen Netflix stumble before, especially maybe after a price hike, but not quite like this," Jim Cramer says.Mad Money with Jim Cramerread more
They also voted to absolve themselves, their party and the voters who elected them – like the ones Trump inspired to chant "send her back" at a rally Wednesday in North...Politicsread more
See which stocks are posting big moves after the bell on July 18.Market Insiderread more
House Democrats contend the $15 per hour minimum wage bill will lift workers who have not seen the benefits of a strong economy.Politicsread more
The Philadelphia Fed saw its primary gauge measuring the sector jump from 0.3 in June to 21.8, far better than Wall Street estimates of 5 and the highest in a year.Economyread more
Shares of MetLife moved nearly 1 percent lower Monday after it said it would sell its U.S. retail advisor force to another top insurer.
Massachusetts Mutual Life Insurance on Monday agreed to acquire MetLife's Premier Client Group to broaden its geographic reach and expand its dominance in the life insurance industry, the companies said in a release. Financial terms of the deal were not disclosed but are "not material" to MassMutual, the statement said.
"This transaction will enable our U.S. retail business to sharpen its focus on its core strength in product manufacturing while also providing a broader distribution network through the partnership with MassMutual," MetLife CEO Steven Kandarian said, in a statement. "By decoupling manufacturing from distribution, our U.S. retail business will be more agile, and both MetLife and the U.S. retail business can achieve significant cost savings."
The two companies had been reported to be in talks over the unit — which encompasses more than 40 sales and advisory operations and about 4,000 advisors. MetLife said earlier this year it would spin off its retail segment to create more value for shareholders in the current economic and regulatory environment.
In addition to MetLife's retail advisor firms, the transaction will encompass certain MetLife employees who support the MetLife Premier Client Group; MetLife's affiliated broker-dealer, MetLife Securities; and certain assets associated with the MetLife Premier Client Group, including employee contracts.