International Business News - AIG http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif Wells Fargo Securities downgraded American International Group Inc to "underperform," saying the company has virtually no tangible book value at the moment and that its shares are over priced. http://www.ibtimes.com/articles/20090911/wells-fargo-downgrades-aig-underperform.htm Fri, 11 Sep 2009 10:03:43 EDT U.S prosecutors are preparing to impanel a grand jury to consider indicting the former head of American International Group's AIG Financial Products unit for securities fraud, the Wall Street Journal reported. http://www.ibtimes.com/articles/20090911/prosecutors-preparing-impanel-aig-grand-jury-wsj.htm Fri, 11 Sep 2009 10:00:42 EDT Credit Suisse downgraded American International Group Inc to "underperform" from "neutral," saying near-term sale of businesses would leave little to no value for common equity holders. http://www.ibtimes.com/data/articleimgs/219921-.jpg http://www.ibtimes.com/articles/20090908/credit-suisse-cuts-aig-underperform-halves-target.htm http://www.ibtimes.com/articles/20090908/credit-suisse-cuts-aig-underperform-halves-target.htm Tue, 08 Sep 2009 10:36:42 EDT Troubled U.S. insurer American International Group is looking to halve fees paid to banks for initial public offerings of its units, Bloomberg cited AIG chief executive Robert Benmosche as telling employees. http://www.ibtimes.com/articles/20090902/aig-ceo-wants-lower-ipo-fees-bloomberg.htm Wed, 02 Sep 2009 08:19:05 EDT Standard & Poor's said on Tuesday it is continuing to review its ratings on International Lease Finance Corp for downgrade as American International Group Inc's plans to sell the unit have become less clear. http://www.ibtimes.com/data/articleimgs/219542-.jpg http://www.ibtimes.com/articles/20090901/sstill-may-ilfc-as-aig-sale-plans-unclear.htm http://www.ibtimes.com/articles/20090901/sstill-may-ilfc-as-aig-sale-plans-unclear.htm Tue, 01 Sep 2009 11:23:28 EDT NEW YORK - Sixteen one-time American International Group Inc (AIG.N) outside directors asked a federal judge to dismiss a shareholder lawsuit accusing them of ignoring "red flags" that brought the insurer to the brink of collapse and led to $180 billion of federal bailouts. http://www.ibtimes.com/data/articleimgs/219231-.jpg http://www.ibtimes.com/articles/20090827/aig-directors-want-shareholder-lawsuit-dismissed.htm http://www.ibtimes.com/articles/20090827/aig-directors-want-shareholder-lawsuit-dismissed.htm Thu, 27 Aug 2009 08:55:57 EDT The Philippine unit of American International Group (AIG) (AIG.N) has agreed to acquire 51 percent of Ayala Life Assurance Inc, the country's seventh largest life insurance company, a joint statement from the insurers said on Wednesday. http://www.ibtimes.com/articles/20090826/american-international-group-aig-philippine-unit-buy-51-pct-ayala-life.htm Wed, 26 Aug 2009 09:59:06 EDT American International Group Inc's plans to sell its broker-dealer business, AIG Advisor Group, are facing hurdles, the New York Post said. http://www.ibtimes.com/articles/20090624/sale-aig-broker-dealer-business-doubt-ny-post.htm Wed, 24 Jun 2009 06:11:27 EDT American International Group is near a deal to sell its auto insurance business, a source familiar with the matter told Reuters. http://www.ibtimes.com/articles/20090415/aig-may-sell-auto-insurance-unit-report.htm Wed, 15 Apr 2009 23:52:16 EDT Former AIG chief executive testified before a congressional committee on Thursday that when he left the company several years ago, it was still in good financial shape. http://www.ibtimes.com/articles/20090402/lawmakers-over-aig-mess.htm Thu, 02 Apr 2009 23:59:10 EDT American International Group Inc said Thursday it has completed the sale for $263 million to Bank of Montreal's BMO Financial Group, according to the reports. http://www.ibtimes.com/articles/20090402/aig-completes-two-asset-sales.htm Thu, 02 Apr 2009 17:00:48 EDT Activist investors are looking to block the re-election of American International Group Inc director James Orr, chairman of the insurer's board's compensation committee, the Wall Street Journal said. http://www.ibtimes.com/data/articleimgs/211435-aig.jpg http://www.ibtimes.com/articles/20090401/activists-seek-oust-aig-compensation-chief-report.htm http://www.ibtimes.com/articles/20090401/activists-seek-oust-aig-compensation-chief-report.htm Wed, 01 Apr 2009 05:39:49 EDT American International Group (AIG.N: Quote, Profile, Research, Stock Buzz) has cut or delayed payments to some of its real-estate ventures, potentially leaving the developers and their bankers in the lurch, the Wall Street Journal reported. http://www.ibtimes.com/articles/20090330/aig-delays-funds-some-real-estate-ventures-report.htm Mon, 30 Mar 2009 05:43:04 EDT Seeking to avoid another financial crisis similar to the potential failure of AIG last September, leaders of the U.S. Treasury and Federal Reserve urged lawmakers to give them additional authority to supervise the financial system, including the ability to close out struggling non-bank financial institutions. http://www.ibtimes.com/data/articleimgs/211165-bernanke-geithner.jpg http://www.ibtimes.com/articles/20090324/avoid-another-aig-expand-laws-protect-system-treasury-fed.htm http://www.ibtimes.com/articles/20090324/avoid-another-aig-expand-laws-protect-system-treasury-fed.htm Tue, 24 Mar 2009 11:50:28 EDT The following are prepared remarks by Federal Reserve Chairman Ben Bernanke, who was set to testify in Washington today about the Fed's involvement in the bailout of insurance giant American International Group Inc. http://www.ibtimes.com/articles/20090324/bernanke-039testimony-on-aig-text.htm Tue, 24 Mar 2009 10:12:51 EDT The American International Group bonus payment debacle could not have come at a worse time for a U.S. government that desperately needs to attract up to $2 trillion of private capital for its latest efforts to repair a crippled financial system. http://www.ibtimes.com/data/articleimgs/210929-aig.jpg http://www.ibtimes.com/articles/20090318/aig-debacle-chills-investor-interest-bailout-plans.htm http://www.ibtimes.com/articles/20090318/aig-debacle-chills-investor-interest-bailout-plans.htm Wed, 18 Mar 2009 13:36:57 EDT New York Attorney General Andrew Cuomo will subpoena American International Group inc for information about employees whom he said were sent bonuses March 13. http://www.ibtimes.com/articles/20090316/cuomo-subpoena-aig-over-bonuses-political-pressure-mounts.htm Mon, 16 Mar 2009 18:10:13 EDT President Barack Obama voiced outrage on Monday over large bonus payments awarded to top employees of insurer AIG and ordered his treasury secretary to legally block them if possible. http://www.ibtimes.com/data/articleimgs/210830-.jpg http://www.ibtimes.com/articles/20090316/obama-aig-outrage-insurance-giant.htm http://www.ibtimes.com/articles/20090316/obama-aig-outrage-insurance-giant.htm Mon, 16 Mar 2009 16:23:45 EDT President Barack Obama is renewing pressure within his administration to find legal ways to block $165 million in bonus payments to American International Group employees after the government determined last week that the giant insurer was legally bound to give retention pay to workers. http://www.ibtimes.com/data/articleimgs/210826-pres-obama-and-sec-geithner.jpg http://www.ibtimes.com/articles/20090316/aig.htm http://www.ibtimes.com/articles/20090316/aig.htm Mon, 16 Mar 2009 15:29:42 EDT Goldman Sachs Group Inc and a parade of European banks were the major beneficiaries of $93 billion in payments from AIG -- more than half of the U.S. taxpayer money spent to rescue the massive insurer. http://www.ibtimes.com/data/articleimgs/210810-.jpg http://www.ibtimes.com/articles/20090316/aig-american-industrial-group-insurance-aid-goldman-sachs-group-inc.htm http://www.ibtimes.com/articles/20090316/aig-american-industrial-group-insurance-aid-goldman-sachs-group-inc.htm Mon, 16 Mar 2009 12:49:11 EDT