AIG

Gold Miners Say Mali Coup Not an Issue For Them

Bamako, Mali
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.
More news
People walk past a panel displaying the blue-chip Hang Seng Index outside a branch of China Construction Bank in Hong Kong

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.
The logo of the AIA tower is seen at its entrance in Hong Kong

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.
A pair of housing units are shown for sale in San Francisco

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.
Logo on headquarters of American International Group Inc. (AIG) in New York

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

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.
View of New York Federal Reserve Bank from Maiden Lane

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.
Logo on headquarters of American International Group Inc. (AIG) in New York

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.
Goldman

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.
IBTimes Logo

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.
A Goldman Sachs sign is seen on at the company's post on the floor of the New York Stock Exchange

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.
Chairman of the Federal Reserve Ben Bernanke holds a news conference in Washington

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.
Eurozone Debt Crisis

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.
Logo on headquarters of American International Group Inc. (AIG) in New York

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.

Pages

  • MOST READ

IBT Spotlight

We Help Businesses Find B2B Service Providers They Can Trust.