Bernanke: Fed Stopped Global Economic Catastrophe
The Federal Reserve prevented a global economic catastrophe with its response to the 2007-2009 financial crisis, Federal Reserve Chairman Ben S. Bernanke claime in in a speech on Tuesday.
Gold Miners Say Mali Coup Not an Issue For Them
A coup d'etat currently underway in Mali is not affecting gold production there, miners in the country are saying, as events related to the military uprising seem confined to the country's capital, hundreds of miles away from where gold deposits are located.
Jeb Bush 'Stupidly' Endorses Mitt Romney
Walt Osterman is the author of Not Home Yet: A Tale Concerning Israel's Rebirth. He served in Vietnam and is a Bronze Star recipient. He lives in Wyoming.
Wall Street flat on consumer sentiment, inflation data
Stocks were flat on Friday as data showed inflation remained in check last month as the domestic economy continues to improve, but consumer sentiment slipped.
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AIG to Sell Slice of Asian Unit for about $6B to Pay Off U.S.
American International Group, Inc. (NYSE:AIG) tagged Hong Kong investors in its Asian unit with a nasty surprise Sunday evening, announcing it will be selling a substantial amount of its stake in the subsidiary at a discount -- a move that will hurt current stockholders in the concern. AIG is pursuing the action in order to raise $6 billion, a small amount of the $182.3 billion bailout it received from the U.S. government in 2008 and is still to pay back in full.
AIG Selling 6 Billion of AIA Shares, to Repay Bail-out
American International Group is selling part of its stake in AIA Group to raise about $6 billion to help the U.S. insurer repay a huge federal government bail-out.
AIG Plans to Raise $6 Billion by Selling AIA Shares
American International Group Inc. (AIG) has stated that it has started selling shares of AIA Group Ltd, listed in Hong Kong, for raising $6 billion, in order to repay the bailout it received from the U.S. government in 2008.
S&P 500 Hits Highest Level Since '08 on Economic Data; Dow Touches 13,000
Buoyed by another round of better-than-expected economic data, the Standard & Poor's 500 advanced above its highest close since June 2008. Optimism on the economy also lifted the Dow Jones Industrial Average back above 13,000.
Wall St flat, rally may be vulnerable
Stocks were little changed on Friday, hovering around highs not seen since June 2008, while energy shares gained alongside crude oil prices.
Weekly U.S. Economic Snapshot: How Are we Doing?
Housing, the weakest of the three legs of the stool supporting the U.S. economy, is finally firming up, or so it seems to investors, economists, real estate agents and buildings after a string of heartening reports so far this year.
Futures Suggest Higher Open for US Stocks Friday
U.S. stock index futures pointed to a slightly higher open for equities on Friday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 rising 0.1 percent to 0.2 percent.
Top After Market NYSE Gainers (CRM, DDD, AIG, MGA, PACD, AEL, RAX, STP )
The top aftermarket NYSE gainers Thursday were: Salesforce.com, 3D Systems Corp, American International Group, Magna International, Pacific Drilling, American Equity Investment, Rackspace Hosting and Suntech Power Holdings.
AIG Shares Up Following $19.8 Billion Profit Announcement
Shares of American International Group Inc. rose 6 percent in after hours trade on Thursday after it announced that the fourth-quarter profit jumped 77 percent, fueled by a tax benefit and an increase in the value of a stake in Asian insurer AIA Group Ltd .
American International Group Posts Huge 4Q Profit on Tax Benefit
Bailed-out insurance giant American International Group Inc. (NYSE:AIG), boosted by a one-time accounting gain, reported fourth-quarter profit of $19.8 billion. Favorable stock market conditions also helped offset large losses stemming from Thailand floods.
AIG Posts Large Q4 Profit on Tax Benefit
Bailed-out insurer American International Group reported a profit of $19.8 billion for the fourth quarter, after an accounting determination that it is likely to post future profits let it release the value of some tax benefits.
Fed To Sell Rest of Toxic Waste Bonds From Bailout: Bloomberg
At least one large financial institution has approached the Federal Reserve Bank of New York with an offer to buy out the remaining mortgage-backed toxic waste bonds it received from AIG as collateral for a $19.5 billion bailout in 2008, according to Bloomberg News, as banks are looking to profit from what many see as an incipient turnaround in the U.S. housing market.
American International Group Earnings Preview: Q4 Swings to Profit on Tax Gain
Bailed-out insurance giant American International Group Inc. (NYSE:AIG), boosted by a one-time accounting gain, is expected to return to profitability when it reports its fourth-quarter earnings after markets close Thursday. Favorable stock market conditions and less reserve charges may also helped offset large losses stemmed from Thailand floods.
Ex-Goldman Analyst Writes White Collar Crime Tale
The Darlings tells a fictional tale about the downfall of a hedge fund and the wealthy family that owns it during Wall Street's 2008 meltdown, but many aspects of the novel are drawn straight from author Cristina Alger's reality.
Budget Deficit Increases Due to Lower GM Share Values
Lower value of the United States government's stock in General Motors Co. and American International Group will dump $21 billion more on the 2013 budget President Barack Obama released on Monday.
Bankers Air Fears over Scope of Swaps Rules
Foreign and U.S. banks warned lawmakers on Wednesday that broad application of U.S. swaps rules could undermine U.S. competitiveness abroad, increase the cost of hedging and even provoke brinkmanship among international regulators.
Goldman Sachs Buys $6.2B in Mortgage Bonds from Fed
Goldman Sachs Group Inc. (NYSE:GS) has purchased mortgage bonds valued at $6.2 billion from the Federal Reserve Bank of New York, previously owned by the insurance giant American International Group Inc. (NYSE:AIG), until its government bailout in 2008.
AIG Reviewing Succession as Chairman Takes New Job
Bailed-out insurer American International Group will review its succession plans after its chairman accepted a job as the chief executive of an airplane maker, the company said on Tuesday.
ET, the New Alien Scaring Global Markets
The United States is coming to be seen as a global threat, acting unilaterally with aggressive new market rules that critics say will hurt U.S. firms, foreign banks, and international markets in one swoop.
Hey Buddy, Want to Run a Failing U.S. Bank?
Wanted: Skilled executives willing to take over large, failing U.S. financial firms at a moment's notice.
Will CDS Tackle the European Financial System?
The European sovereign debt crisis has been festering for nearly three years, and some observers wonder whether the credit default swaps (CDS) that have been written on the government of Greece, Ireland, Italy, Portugal and Spain represent another source of risk for the world's financial institutions.
Court OKs AIG's $450M Workers Comp Settlement
A federal judge has approved American International Group Inc's $450 million settlement with rival insurers to end litigation accusing AIG of underreporting premiums on workers' compensation policies.
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