AIG

Bank of America

Bank of America shares fall on AIG lawsuit, economy

Bank of America Corp (BAC.N) shares fell as much as 9.5 percent to their lowest level since April 2009 on Monday morning over fears of a slowing U.S. economy and challenges to a multi-billion dollar mortgage settlement.
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Taiwan AIG unit bidders set to face regulators

Taiwan AIG unit bidders set to face regulators

Shareholders of two of the firms in a consortium buying U.S. insurer AIG's Taiwan unit approved the $2.16 billion bid on Wednesday, setting the scene for what is expected to be a tough battle with regulators.
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The end of the global currency regime is now unavoidable

The debts assumed by the Western democracies will overwhelm their economies and lead to the end of our current Dollar-denominated, global currency regime. This has profound implications for Americans' standard of living and our empire's role in the world.
A driving blizzard blows on a Great Depression Bread-Line sculpture as a hiker walks by at the FDR Memorial in Washington

Recessions since Great Depression

A recession is the decline of a nation's gross domestic product (GDP) over two or more consecutive quarters. It is also referred to as a period of economic decline and reduced economic activity. During recessions, many macroeconomic indicators vary in a similar way. GDP, employment, investment spending, capacity utilization, household incomes; business profits and inflation all fall, while bankruptcies and the unemployment rate rise. Here is a list of recessions that occurred since the Great ...
AIG

AIG Sees $4.1 Bln Charge in Q4

American International Group, Inc. said it expects to record a $4.1 billion charge in the fourth quarter to boost the loss reserves in its Chartis property and casualty insurance subsidiaries.

Wage and inflation risks loom after Australia floods

Extensive reconstruction after Australia's floods risks fuelling a wages blow-out, as flooded states and the booming resource sector bid for scarce workers, which will in turn push up inflation and add pressure for a tightening of interest rates.

US stocks gain as European debt concerns ease

The S&P 500 Index gained 3.69 points, or 0.29 percent, to trade at 1,278.17 at 9.30 a.m. EDT. The Dow Jones Industrial Average rose 32.93 points, or 0.28 percent, to trade at 11,704.81. The Nasdaq Composite Index advanced 11.50 points, or 0.42 percent, to 2,728.49.
A man stands in front of an AIG logo in Tokyo

Fairholme portfolio scores big on AIG stake

Bruce Berkowit, president of Fairholme Capital Management has a huge stake in bailed-out insurance company American International Group (NYSE: AIG) which has just about doubled in price year-to-date (from just under $30 per share to just under $60).
AIG president Robert Benmosche

AIG shares rise on new credit facilities

Shares of American International Group Inc. (NYSE: AIG) are soundly higher this morning after the company said it entered bank credit facilities totaling $3-billion.

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