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FINANCIAL
Ameritrade, Waterhouse mull link
Online discount brokerage Ameritrade and Canada's TD Bank, the owner of rival brokerage TD Waterhouse, said they were in talks involving a potential transaction. News of possible merger talks follow E-Trade's unsolicited $6 bil takeover bid for Ameritrade. Online brokerages are seeking to cut costs as trading volume flounders. Ameritrade rose 3.5% to 14.86. TD climbed 3% to 42.53. E-Trade rose 2% to 12.35. More on A8
AIG slashes net income by $4 bil
The insurance giant filed its '04 annual report, which had been delayed as it resolved accounting problems, lowering its profits by $3.9 bil for the five years starting in '00. Also, AIG cut shareholders' equity at year-end '04 by 2.7%. Regulators have been probing whether AIG adjusted results to paint a rosier financial picture. AIG acknowledged that some accounting was improper. Shares fell 1.5% to 55.55.
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