U.S. officials press Feinberg to ease AIG curbs: report

Kenneth Feinberg, the Obama administration's pay czar, is being pressed by federal officials to relax executive compensation restrictions at American International Group Inc for 2010, the Wall Street Journal reported, citing people familiar with the matter. Read Full Article here.

Warner Music posts quarterly loss

Warner Music Group , the world's third largest music company, on Tuesday reported a quarterly loss due to higher interest expense and charges for job cuts. Read Full Article here.

GM pays back Germany, signals fewer job cuts

General Motors has paid back a loan from Germany and slightly lowered its target for job cuts at struggling European unit Opel. Read Full Article here.

Icahn outbids Penn for Fontainebleau Las Vegas

Financier Carl Icahn has offered $156.5 million to acquire the partially built Fontainebleau Las Vegas resort, which has been stalled in bankruptcy court since June, according to the resort's chief operating officer. Read Full Article here.

Hedge funds set for rebound to pre-crisis level: MS

Investment flows into hedge funds have turned net positive and the sector is heading toward having assets under management of around $1.75 trillion by year-end, according to Morgan Stanley. Read Full Article here.

Citigroup to sell BMO a Diners Club business

Citigroup Inc (C.N) said on Tuesday that it would sell its Diners Club North America credit card business to Canada's BMO Financial Group, as part of its strategy to shed noncore or unwanted assets. Read Full Article here.

Heinz profit falls, raises full-year view

H.J. Heinz Co posted a lower quarterly profit on Tuesday, hurt by sales declines in North America and Europe, but said it is optimistic about its sales momentum heading into the second half of its fiscal year and raised its full-year profit forecast. Read Full Article here.

Playboy to outsource most magazine ops: report

Playboy Enterprises Inc will outsource most of the business operations of its namesake magazine in an effort to curb losses, the Wall Street Journal said on Tuesday. Read Full Article here.

Fed asks U.S. banks to submit TARP repayment plans: report

The U.S. Federal Reserve this month asked nine banks that were part of stress tests conducted earlier this year to submit plans to repay money injected under the Troubled Asset Relief Program (TARP), Bloomberg said, citing a person familiar with the situation. Read Full Article here.