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Ticker: Aug. 24

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Between 150 and 200 more U.S. banks will fail, on top of the 81 that have failed so far during the current banking crisis, a prominent banking analyst told CNNMoney.com. This is likely to force the Federal Deposit Insurance Corp to turn to non-U.S. banks to shore up the banking system, said Richard Bove of Rochdale Securities LLC. “The difficulty at the moment is finding enough healthy banks to buy the failing banks,” Bove wrote on CNNMoney.com.

Read the full CNNMoney.com article.

Iowa-based Rockwell Collins Inc. President and CEO Clay Jones will address the Morgan Stanley Global Industrials Unplugged Conference in New York at 7:45 a.m. on Sept. 1. A live audio webcast and replay of Jones’ comments will be available at www.rockwellcollins.com.

Reader’s Digest Association Inc. (RDA) announced today that it has filed for prearranged bankruptcy protection as part of its restructuring plan, according to MSNBC.com. In a press release last week, RDA announced it had reached an agreement in principle with a majority of its senior secured lenders on the terms of a restructuring plan to reduce its debt burden. The agreement says the company’s senior secured lenders will exchange a large portion of the company’s $1.6 billion in senior secured debt for equity, and also provides for the transfer of ownership of the company to the lender group. The deal should reduce the company’s debt from $2.2 billion to $550 million. The prearranged bankruptcy filing was part of the agreement.

Microsoft Corp., Amazon.com Inc. and Yahoo Inc. have joined the fight against a court settlement that gives Google Inc. the rights to sell millions of books online, CNNMoney.com reported. The settlement would allow Google to display portions of books online and sell digital copies. A court will review the agreement for approval on Oct. 7. Google has cataloged 1 million public domain books with expired copyrights, and the settlement would give $45 million to authors and publishers whose copyrighted books are scanned without permission.

The price of gasoline in the United States hasn’t changed from two weeks ago, holding at an average of $2.64 per gallon, according to the national Lundberg Survey of fuel prices released Sunday, MSNBC.com reported. The average is $1.06 per gallon less than the price at the same time last year.