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
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.
The BSA Gold Star is launched....Ola Enters e-motorbikes Biz... Bajaj, TVS To Enter e2Ws Market...
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
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.
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.
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.
Prominent international celebrities and activists on Wednesday joined American pop star Rihanna to extend support to the farmers' protests here and garner international attention on the protracted stir but their remarks were slammed by India as 'neither accurate nor responsible'.
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.
India agreed to give up the Poonch salient as well as Uri. To the north India also proposed to give up land in the Gurez sector giving the entire Neelam/Kinshanganga valley to Pakistan. In return India sought control of the post dominating Kargil town, points out Colonel Anil A Athale (retd).
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
Three contenders for the women's singles title at the Australian Open.
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.
The American International Group India on Thursday issued a release stating that the US financial crisis does not have any immediate material impact on Tata AIG Life Insurance.
They fell from some of the most powerful positions on earth.
'The fact that India is multilingual and the kids grow up already bilingual or trilingual so learning another language or learning other spelling patterns is not really that hard.'
Aseem Chhabra lists his favourite films, most of them shown at international film festivals held virtually (Berlinale and Rotterdam), hybrid (Toronto) or physical (Cannes and Venice).
At least four foreign fund biggies would soon enter the Indian mutual fund industry, a sign that re-affirms overseas interest in the country's stock markets though indices continue to sway.
If want to look at the world's most beautiful places, scroll down now. The winners of the fifth International Landscape Photographer of the Year competition have been announced, with stunning shots documenting everything from magical mountains to glistening lakes and dark, forbidding forests. There were almost 3,000 entries from photographers around the globe, leaving the judges with a headache to whittle them down. Adam Gibbs from Canada has been revealed as the 'photographer of the year' (an award based on a folio submission of at least four images) with his hauntingly beautiful shots of woodland scenes around Vancouver Island. Here's a selection of the photos that caught the judges' eyes.
Godrej Consumer Products (GCPL) reported 6 per cent year-on-year (Y-o-Y) consolidated net revenue growth in Q4FY24 to Rs 3,385 crore and this was impacted adversely by currency movement. The constant currency (CC) growth would have been 30 per cent Y-o-Y in Q4FY24. India business clocked 12 per cent Y-o-Y revenue growth (5 per cent of it organic) with volume growth of 15 per cent Y-o-Y (7 per cent organic).
Mystery, horror, biopics, documentaries, fantasy, romance, comedy, coming-of-age, pick the genre you like from the wide variety on OTT this week.
The external affairs minister also recalled how Pandit Nehru was hesitant in taking assistance from the United States following the 1962 war with China as he was unsure how it would be seen.
'Congrats to our team @USUN for their work in negotiating JEM's Masood Azhar's #UN designation as a terrorist,' Pompeo tweeted.
'People had a perception that I may be angry as a person.' 'Or I'm older than I really am.' 'Or I can't speak in English because of the characters I've done at the beginning of my career.'
Ambassador T P Sreenivasan bids adieu to an unusual human being who passed away into ages on Saturday.
A step away from nuclear weapons being used in conflicts, warns Colonel Anil A Athale (retd).
Several Indian American organizations, including the American Association of Physicians of Indian Origin--arguably the largest and most influential international medical group in the US--and leading Hindu leaders have blasted Fox News' conservative talk show host Glenn Beck for insulting medical care in India and joking that the holy river Ganges sounded like a disease.
Prime Minister Narendra Modi on Wednesday said the world looks at India as an important pillar of stability, a trusted friend, an engine of growth in the global economy, a technology hub for finding solutions and a powerhouse of talented youth. He also said that in the rapidly changing world order, India is moving forward as 'vishwa mitra' (friend of the world). Speaking at the inauguration of the 10th edition of the Vibrant Gujarat Global Summit, which saw participation of state hea
All three agreed to have the proceedings heard in English and each of them nodded that they understood the charges of first-degree murder and conspiring to murder Nijjar, the report said.
SEWA International, a leading Indian-American non-profit organisation, has so far raised more than $250,000 for its COVID-19 relief efforts. It is using the money to buy personal protective equipment's, in particular facial masks and surgical masks, to donate free to the local law enforcement officials and hospitals in some of the hot spot areas like New York, who have run out of these essential items.
Rediff reader Sameer Karkhanis, 41 from Thane shares his experience. You can share yours too!
Israeli President Isaac Herzog said the instructions originated from an Al Qaeda design for chemical weapons dating back to 2003.
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