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$FPI CEO and Chairman, Paul Pittman, will be CEO and Chairman, and $FPI CFO Luca Fabbri will be CFO of combined company. $AFCO Chief Investment Officer, Robert Cowan, will join $FPI as President. $FPI directors will increase from 6 to 8 after deal closes, of which 2 will be from $AFCO, namely Chairman Dixon Boardman and CEO Thomas Gimbel.
The latest earnings report by $VZ shows how it is losing customers despite offering the unlimited data plans, a record for the company.
$BEBE is closing down all its stores by the end of May.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.