Taiwan rejects Primus purchase of AIG unit (AP)

AP - Taiwanese regulators on Tuesday rejected Primus Financial Holdings' planned purchase of AIG's Taiwan life insurance unit amid concerns that the Cayman Island-based firm may be backed by funds from rival China.

Dead soldiers’ parents sue insurer over benefits (AP)

AP - The parents of six deceased U.S. soldiers are suing Prudential Financial, saying it paid paltry interest on military life insurance benefits while keeping more generous interest earnings for itself.

Forget Treasuries. Buy Convertibles Instead. (The Motley Fool)

The Motley Fool - The recent pullback in the stock market has many investors running for cover. Meanwhile, fear of an imminent double-dip recession and concerns about renewed pressure in the housing market has pushed bond prices to historic highs, reducing bond yields and creating an income crunch for savers. Throughout 2010, billions of dollars have gone into bond mutual funds, and the trend shows no sign of reversing anytime soon.

Cheaper Reverse Mortgages May Be Coming (U.S. News & World Report)

U.S. News & World Report - The Federal Housing Administration (FHA) is developing a new reverse mortgage product that sharply cuts up-front payments by home owners but also significantly reduces the percentage of a home's equity that can be paid to owners under the program. Reverse mortgages insured by the government are available on homes where the youngest owner is at least 62 years old. The program is called a Home Equity Conversion Mortgage (HECM).

Business events scheduled for the coming week (AP)

AP - WASHINGTON — Commerce Department releases personal income and spending for July, 8:30 a.m.

Business events scheduled for the coming month (AP)

AP - WASHINGTON — Commerce Department releases personal income and spending for July, 8:30 a.m.

Warren Buffett Kills the World’s Greatest Investment Meeting (The Motley Fool)

The Motley Fool - For years, Charlie Munger, Berkshire Hathaway's (NYSE: BRK-A - News; BRK-B) octogenarian co-chairman, has said that Berkshire would one day buy the remaining 20% of Wesco Financial (NYSE: WFC - News) it didn't already own.

AIG decides against strategic investor for AIA: source (Reuters)

Reuters - American International Group Inc has scrapped plans to sell a strategic stake in its Asian life insurance business, AIA, ahead of its initial public offering, a source familiar with the process said on Friday.

Citi-backed personal finance site adds tools (Reuters)

Reuters - Bundle.com, an online personal finance site that counts Citigroup Inc among its backers, is unveiling new features to compete in a growing market for Internet banking and budgeting advice, its chief executive said on Thursday.

Summary Box: Underwater mortgages in US fell in 2Q (AP)

AP - SLIGHT DECLINE: Real estate data provider CoreLogic says the number of U.S. homes with mortgages that exceed what the properties are worth fell slightly between the second quarter and the first three months of this year. It's the second consecutive quarterly decline.

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