IBTimes.com : AIG Topic

Judge Tosses Part Of AIG Suit Against Bank Of America

Thu, 24 May 2012 11:36:40 EDT

American International Group Inc. (NYSE: AIG) was partially rebuffed in its effort to get $10 billion out of Bank of America Corp. (NYSE: BAC) Wednesday, as a Los Angeles U.S. district judge dismissed some of the New York re-insurer's claims in its securities lawsuit against the giant Charlotte, North Carolina- bank.

MetLife to outline growth plan, eyes emerging markets

Wed, 23 May 2012 01:35:02 EDT

MetLife Inc , the largest U.S. life insurer, said it plans to refocus its U.S. business and will seek to grow in emerging markets as part of a strategic plan that is set to be unveiled later on Monday.

AIG to sell AIA shares after lock-up ends in September

Wed, 16 May 2012 15:14:03 EDT

Bailed-out insurer American International Group Inc will sell its shares in Asian insurer AIA Group Ltd <1299.HK> after a lock-up period expires in early September, Chief Executive Bob Benmosche said on Wednesday.

Child Artiste Taruni Sachdev Killed In Nepal Plane Crash

Tue, 15 May 2012 03:27:37 EDT

Bollywood child artiste Taruni Sachdev was among the 15 passengers who were killed in a plane crash on Monday.

HP loses $190 million tax case against IRS

Mon, 14 May 2012 23:35:05 EDT

Hewlett-Packard Co. on Monday lost a battle with the U.S. Internal Revenue Service for more than $190 million (118 million pounds) in tax refunds tied to a Dutch tax shelter designed by the derivatives arm of American International Group.

AIG ex-CEO Greenberg eyes reversing NY fraud case

Mon, 14 May 2012 18:14:03 EDT

Former American International Group Inc Chief Executive Maurice "Hank" Greenberg said New York's attorney general should be barred from invoking a 91-year-old state law in a fraud case over two suspect reinsurance transactions.

Freddie Mac Names Donald Layton CEO

Thu, 10 May 2012 16:51:00 EDT

Freddie Mac (OTC: FMCC), the second-largest U.S. mortgage guarantor, said Thursday it was appointing Donald Layton, the former head of E*Trade as its CEO.

Freddie Mac To Name Former E*Trade Chief Donald Layton New CEO: WSJ

Wed, 09 May 2012 14:11:53 EDT

Freddie Mac, the second-largest mortgage guarantor, will announce the appointment of Donald Layton, former head of E*Trade Financial Corp., as a new CEO as early as Thursday, the Wall Street Journal said.

Fraud case versus AIG ex-CEO Greenberg cleared for trial

Tue, 08 May 2012 17:14:03 EDT

A New York appeals court on Tuesday gave former American International Group Inc Chief Executive Maurice "Hank" Greenberg a partial victory in the state's fraud lawsuit against him over two suspect reinsurance transactions, but cleared the way for the case to go to trial.

U.S. could make $15.1 billion on AIG bailout: GAO

Tue, 08 May 2012 01:00:02 EDT

Taxpayers could realize a profit of more than $15.1 billion from the massive government bailout of insurer American International Group, a congressional watchdog said.

Treasury further lowers government stake in AIG

Mon, 07 May 2012 18:56:02 EDT

The Treasury on Monday said it is trimming its ownership stake in American International Group Inc to 61 percent from 70 percent by selling more shares of the insurer's common stock.

Treasury Dept. to Sell $5 Billion of Insurance Giant AIG

Mon, 07 May 2012 11:32:14 EDT

The U.S. Treasury Department will sell $5 billion in shares of American International Group Incorporated (NYSE: AIG) as it continues to divest its balance sheets of the bailed-out insurance company, which has agreed to purchase $2 billion of its own shares as part of the stock offering, the company announced Monday.

Pre-Market Movers (GTSI, TTM, FTR, YHOO, NBG, CTSH, AIG, SCMF, HUN, GNW)

Mon, 07 May 2012 08:24:33 EDT

The companies whose shares are moving in pre-market trade Monday are: GTSI Corp, Tata Motors, Frontier Communications, Yahoo, National Bank of Greece, Cognizant Technology Solutions, American International Group, Southern Community Financial, Huntsman Corp. and Genworth Financial Corp.

Private Survey Underscores Near 2-Year Contraction in Building Activity

Sun, 06 May 2012 23:16:00 EDT

The latest building activity data confirmed the warning issued last week by the Australian central bank - that the local housing sector will not be geared to recovery mode, at least in the near term.

Treasury to sell more AIG common stock

Fri, 04 May 2012 17:56:02 EDT

The Treasury Department said on Friday it plans a third sale of the common stock of American International Group that it acquired as part of the government bailout of the insurer in 2008, at the height of the financial crisis.

Treasury to launch public offering of AIG common stock

Fri, 04 May 2012 17:14:04 EDT

The Treasury Department said on Friday it has initiated a public offering of its common stock in AIG, the insurer the government bailed out in 2008 at the height of the financial crisis.

U.S. to launch public offering of AIG common stock

Fri, 04 May 2012 16:56:02 EDT

The U.S. Treasury Department said on Friday it has initiated a public offering of its common stock in AIG, the insurer the government bailed out in 2008 at the height of the financial crisis.

AIG shares slump on earnings, government overhang

Fri, 04 May 2012 13:21:02 EDT

Shares of American International Group tumbled as much as 6 percent on Friday before paring some of the losses after it reported mixed results and as investors took profits following a large run-up in the bailed-out insurer's shares this year.

US Added 115,000 Jobs In April, Unemployment Rate Falls To 8.1%

Fri, 04 May 2012 08:50:02 EDT

The U.S. economy added far fewer jobs than expected in April, while the unemployment rate edged down as more people gave up hope of finding jobs, reinforcing the fear that the job market recovery could be losing steam.

Pre-Market Movers (DGI, LNKD, VE, DB, DOW, NRF, SDRL, AIG)

Fri, 04 May 2012 07:28:49 EDT

The companies whose shares are moving in pre-market trade Friday are: DigitalGlobe Inc, Linkedin Corporation, Veolia Environnement, Deutsche Bank, The Dow Chemical Company, Northstar Realty Finance Corp and Seadrill Ltd American International Group Inc.

AIG profit beats estimates as investments gain

Thu, 03 May 2012 17:42:03 EDT

Bailed-out insurer American International Group said quarterly profit more than doubled from a year earlier, exceeding expectations with the help of investment gains.

AIG reports profit that beats analyst estimates

Thu, 03 May 2012 17:00:04 EDT

Bailed-out insurer American International Group said first-quarter profit more than doubled from a year earlier, when the company racked up substantial catastrophe losses related to the March 11 earthquake in Japan.

AIG first-quarter profit rises

Thu, 03 May 2012 16:21:02 EDT

Stock index futures point to higher open

Thu, 03 May 2012 04:49:02 EDT

Stock index futures pointed to a higher open on Wall Street on Thursday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 rising 0.1 to 0.2 percent.

U.S jobs in focus as ADP data dissapoints; A$ holds its ground

Wed, 02 May 2012 21:38:46 EDT

After spending a period below 103 US cents overnight, the Aussie dollar saw moderate gains through the latter part of U.S trade as equity markets regained composure after a disappointing start to the session.

AiG performance of services in Australia

Wed, 02 May 2012 20:07:02 EDT

Australian Economy released its AiG Performance of Services for April at 39.6, lower than the previous 47.0 during March.

Daily Forex Forecast 05/03/2012

Wed, 02 May 2012 19:19:20 EDT

The Australian appeared well supported above the critical 1.03 level against its US Counterpart yesterday after a private report showed improvement in China’s manufacturing industry last month.

US Unemployment Rate Likely To Hold At 8.2% In April

Wed, 02 May 2012 13:54:40 EDT

Hiring in the U.S. probably picked up somewhat in April after a disappointing showing in March renewed fears of another spring slump in the labor market, economists said in anticipation of the April non-farm payroll report due Friday.

Diary: Aussie Rates, Bank Profits, US Jobs, Earning, Chinese Manufacturing

Tue, 01 May 2012 20:08:58 EDT

The Reserve Bank dominates the coming week in Australia. But the April jobs report and a host of other data is out in the US will keep us interested.

Air Lease orders more 787 Dreamliners

Tue, 01 May 2012 00:00:04 EDT

Aircraft lessor Air Lease Corp said on Monday it had ordered eight new Boeing 787-9 Dreamliner aircraft worth $1.8 billion at list prices for lease to Vietnam Airlines.

Australian AiG Performance of Manufacturing

Mon, 30 Apr 2012 20:07:02 EDT

The Australian economy released the AiG Performance of Manufacturing for April, where the actual reading came at 43.9, lower than the previous reading of 49.5.

33 Key Earnings Reports To Watch This Week, April 30-May 4

Fri, 27 Apr 2012 11:03:47 EDT

The first-quarter earnings season has so far generated big waves of positive surprises, which fueled the upward momentum in the stock market. However, investors should take these earnings beats with a grain of salt.

MetLife posts loss on interest rate bet

Thu, 26 Apr 2012 18:14:03 EDT

MetLife , the largest life insurer in the United States, posted a net loss for the first quarter on huge derivative losses tied to a rise in interest rates.

AIG says ex-air lease chief Hazy stole trade secrets

Tue, 24 Apr 2012 22:14:02 EDT

American International Group Inc has sued the co-founder and former chief executive of its aircraft-leasing unit, Steven Udvar-Hazy, accusing him and other former employees of stealing several thousand electronic files containing trade secrets.

Judge denies AIG motion in BofA $8.5 billion settlement

Tue, 24 Apr 2012 20:35:02 EDT

A New York judge on Tuesday rejected an effort by AIG Inc and other objectors to Bank of America Corp's proposed $8.5 billion mortgage bond settlement to convert the case to a proceeding that may have widened its scope.

Judge Denies AIG Motion In Bank Of America $8.5 Billion Settlement

Tue, 24 Apr 2012 20:24:51 EDT

A New York judge on Tuesday rejected an effort by AIG Inc (AIG.N) and other objectors to Bank of America Corp's (BAC.N) proposed $8.5 billion mortgage bond settlement to convert the case to a proceeding that may have widened its scope.

AIG Returns To U.S. Real Estate Investment

Wed, 11 Apr 2012 13:15:37 EDT

American International Group Inc., the beleagued insurance company that was brought to its knees by the subprime mortgage collapse, is re-entering U.S. real estate investment later this year.

Wells Fargo upgrades AIG on likely bailout exit

Tue, 10 Apr 2012 08:49:02 EDT

American International Group Inc will likely become independent from the U.S. government over the next year, Wells Fargo Securities said, upgrading the shares of the bailed-out insurer to "outperform.".

Construction Performance Index in Australia

Mon, 09 Apr 2012 22:35:03 EDT

Australian Economy released AIG index data for construction performance in March, where the actual issued by 36.2 compared with a previous reading of 35.6.

Daily Forex Forecast 04/10/2012

Mon, 09 Apr 2012 19:04:56 EDT

In a fairly uneventful past 4 days the majority of local markets have remained closed given the Easter long weekend.

Treasury freezes pay for CEOs at Ally Financial, GM, AIG

Fri, 06 Apr 2012 17:21:02 EDT

The chief executives of General Motors , AIG, and Ally Financial had their 2012 compensation packages frozen for a second year in a row by the Treasury Department after they got "exceptional" bailout help during the financial crisis.

'Mass Effect 3' Ending Controversy: DLC to Fix Ending this Summer

Fri, 06 Apr 2012 03:21:25 EDT

The franchise owner EA has finally responded to fans clamouring for a meaningful ending, with the release of DLC or rather Extended Cut, which promises to fix ending details this Summer.

EA Wins 'Worst Company In America,' Did 'Mass Effect 3' Ending Impact Votes? [VIDEO]

Wed, 04 Apr 2012 16:00:54 EDT

It seems that gamers have stepped into the forefront when it comes to voicing opinions on the Internet. The lackluster ending of “Mass Effect 3” sent video game fanatics in an uproar, and now game publisher Electronic Arts has just won The Consumerist award for this year’s Worst Company in America.

AIG rallies to fresh high on ILFC report, Fed move

Wed, 04 Apr 2012 15:49:02 EDT

American International Group shares rose nearly 7 percent to a one-year high on Wednesday on news that it could reap billions of dollars from asset sales in the near future.

China: 'Dead Serious' to Sustain Economic Gains

Wed, 04 Apr 2012 01:22:50 EDT

China is dead serious in embracing free trade - the core element of capitalism - more so with the United States even as the two nations have yet to formally settle their trade disputes.

AiG performance of services in Australia

Tue, 03 Apr 2012 20:35:02 EDT

Australian Economy released its AiG Performance of Services for March with 47.0, after a previous of 46.7 .

Daily Forex Forecast 04/04/2012

Tue, 03 Apr 2012 19:08:50 EDT

In an eventful day of trading yesterday Australia’s Central Bank kept its benchmark interest rate unchanged at 4.25 percent whilst Australian Retail Sales also matched the majority of forecast advancing 0.2 percent for the month of February.

The Australian Performance of Manufacturing

Sun, 01 Apr 2012 20:07:02 EDT

The Australian economy released the AIG performance of manufacturing for March, where the actual reading came at 49.5 compare to the previous reading of 51.3.

Daily Forex Forecast 04/02/2012

Sun, 01 Apr 2012 18:59:36 EDT

The Australian dollar continued its recent slide for much Friday’s session trading as a low as 1.0341 against its US Counterpart.

Barclays' top financial services banker to retire

Thu, 29 Mar 2012 16:42:02 EDT

The head of Barclays' global financial institutions group, Jeff Weiss, is retiring after nearly three decades at the British bank and Lehman Brothers, according to an internal memo seen by Reuters on Thursday.