Attributing to people familiar with the matter, The Wall Street Journal said, 'federal prosecutors, after a two-year investigation, may soon decide not to charge executives for their role surrounding financial contracts that nearly brought down the company.'
'The next war will be fought by China-Pakistan against India and we have to fully be prepared. We must read the writing on the wall.'
Check out how India's athletes fared on Day 11, Tuesday, August 6, 2024:
Not for reasons related to personal financial problems or economic anxiety about the future, but...
The Tatas will have to either buy out the 26 per cent stake in its life insurance joint venture or rope in another partner if Prudential UK buys out the Asian life insurance business of American International Group (AIG).
How wonderful it would be for all of us to watch the Oscar ceremony on March 2, 2025 and watch AWIAL win an Oscar, notes Aseem Chhabra.
'We watched the film many times but each time, we would cry.' 'During the editing and sound mixing, my whole team would cry.' 'When we reached the music composing stage, it happened again.' 'Our producer said it is too much to be crying so many times.' 'But we never thought the film would be such a big hit.'
The New-York based Goldman Sachs, one of the world's oldest and largest investment banking firms, plans to enter the buoyant mutual fund business in India.
Thanks to its indemnity cover, Citibank may not have to provide for the alleged multi-crore fraud by Shivraj Puri, the relationship manager at its Gurgaon branch.
Insurer American International Group will recover $45 million from its employees given as retention payments last year and return the amount to the government, a media report says.
The chairman of the JSW Group of companies, Sajjan Jindal, whose stake in the group is valued at $14.5 billion (Rs 1.1 trillion), is betting $4.5 billion of his personal fortune in the firm's bid for Ambuja Cements. According to bankers, Jindal's contribution will be a combination of share sale and debts raised by pledging the stake of the target entities with private equities. The JSW Group chairman has offered $7 billion for Ambuja Cements, including $2.5 billion of investments from private equities, the Financial Times reported on Tuesday.
Attributing to people familiar with the matter, The Wall Street Journal said AIG is preparing to pay Kelly several million dollars in severance after she resigned over federal pay curbs.
Indian infrastructure group GMR on Wednesday agreed to buy half of US power producer InterGen for about $1.1bn from an investment firm backed by American International Group and Highstar Capital.
The insurer had received nearly $80 billion last year from the US government to tide over the financial turmoil.
IT and BPO services provider MphasiS on Wednesday said it is set to acquire AIG Systems Solutions (AIGSS), part of the troubled insurance giant American International Group Inc, for an undisclosed amount.
The insurance giant American International Group has replaced Goldman as its main corporate adviser with Citigroup and Bank of America, says a media report.
AIG Rail Services Inc, a Chicago business that is part of AIG's financial-services division, was set up around five years ago and provides rail-car leases and equipment financing to shipping companies, railroads and others.
Thousands of workers of every description -- from journalists to steel workers, from painters to New York cops, from auto to engineering workers -- marched for two hours down 5th Avenue one of Manhattan's most iconic thoroughfares, reports Jyoti Punwani.
After extending billions of dollars to protect themselves from the economic turmoil, the US moved to arrest the trend of exorbitant pay among the nation's big entities like Citigroup, Bank of America and American International Group.
The company's recently hired chief executive Robert Benmosche threatened to quit last month reportedly amid frustrations over limitations on pay for top AIG executives.
American International Group Inc has repaid another $6.9 billion to the US government, using proceeds from the sale of the insurance firm's stake in MetLife.
If Hindenburg or its partner do not join the investigation, then Sebi may pass an ex-parte order against it, which may be enforced as a foreign award in US courts.
Top executives of struggling insurance giant American International Group have agreed to return $50 million taken as bonus as the company faces sharp criticism from taxpayers and federal officials on these payments.
Troubled insurance giant American International Group's chairman and chief executive has asked its employees to return at least half of the bonuses paid to them recently, after facing sharp criticism from taxpayers and federal officials against the payments.
Ambassador Frank G Wisner, the erstwhile US envoy to India, who for years -- as vice-chairman, external affairs for American International Group -- was the face of this global insurance conglomerate--which is now being bailed out by the US government to the tune of $150 billion -- in India and was largely responsible for pushing for New Delhi's opening up of the insurance sector to foreign investors, has quit AIG and joined the top-notch lobbying firm of Patton Boggs, which w
"Contradicting the emerging narrative, Indian-Americans remain committed to the Democratic Party. Nearly three-quarters of registered Indian-American voters intend to support Joe Biden this Fall, compared to just 22 per cent for Donald Trump," it said.
The Sensex closed at 20,032, up 91 points, the Nifty closed up 30 points at 6018.
In an interview to the Financial Times, AIG Chief Executive Officer Robert Benmosche said it would take at least two years for AIG to sell businesses and earn enough profits to repay the government and persuade it to sell its 80 per cent stake.
IMAGES from the UEFA Champions League matches played on Wednesday
The Asian life assurance business of AIG, is expected to set a price range for its initial public offering early next week and hopes to strike agreements with big 'cornerstone' investors who could take one-fifth of the shares sold a few days after that, the report said citing sources.
Benmosche would receive an annual salary of $3 million in cash and $4 million in AIG common stock as per the previous agreement on August 17.
American International Group is in talks with the US government to speed up an exit plan designed to repay taxpayers in full while enabling the giant insurer to regain independence, says a media report.
At a board meeting last week, Benmosche told fellow AIG directors that he was 'done' but agreed to think it over after other board members reacted with shock.
Battered by the financial meltdown, AIG had received billions of dollars from the US government last year to tide over the turmoil. The leading insurer has also shed assets worldwide to streamline its operations.
Aon Corp, the world's largest insurance broker, has agreed a four-year deal to sponsor the shirts of English Premier League champions Manchester United from the start of the 2010-11 season. United's current 14 million pounds ($23.25 million) a year deal with US insurance giant American International Group runs out in June 2010. Details of the agreement were not disclosed but US media reports said it was worth about 20 million pounds a year.
Three top global asset management and investment banks - American International Group, JP Morgan Asset Management and Japan's Mitsubishi UFJ Securities today announced their India strategy, vying for a place in the second fastest growing economy in t
India and Pakistan form one of the most intense rivalries in cricket and the temporary, 34,000-seat stadium in New York, will be bursting at the seams, with millions more watching on TV.
In an interview to the 'Wall Street Journal', Benmosche said that AIG, in its current form, is too large. "I feel strongly that AIG is too big today -- it is extremely complex to manage and we need to make sure it's more transparent, that it's smaller, and that we can make it on our own."
In this regard, AIG has entered into an agreement with Aabar Investments PJSC to sell its subsidiary, the insurance firm said in a statement on on Monday. According to UK daily The Telegraph, the Swiss subsidiary would be sold for about $254 million.
