Updated throughout the day.

The CEO of Nokia (NYSE: NOK) Olli-Pekka Kallasvuo is on the way out (WSJ)

Robert H. Benmosche of American International Group (NYSE: AIG) may have set up two deals by dumping the head of his AIA unit. “One is the flotation of the American International Assurance  division in Hong Kong. And, The other is an eventual merger of A.I.A. and the Asian portion of its big British rival — and recent failed suitor — Prudential.” (BreakingViews)

Tata Steel has begun negotiations with lenders to refinance as much as $5.4 billion in loans for its British unit. (Bloomberg)

Douglas A. McIntyre