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.
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.
In days of smart, networked technology and no shame over collateral damage, what will blow up next -- cars, mobile phones, TV sets, refrigerators? And where?, asks Shyam G Menon.
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.
'He had to change them because he recognises that even with his popularity....could lead to a problem. So, democracy has this way of offering corrections and telling the ruling party or the prime minister that you need to take some steps to compensate for excesses'
The insurer had received nearly $80 billion last year from the US government to tide over the financial turmoil.
Did Jeff Bezos decide against endorsing Harris because it would hurt his business interests? Only God and Bezos know, and neither of them are talking, notes Prem Panicker.
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.
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.
Mongolia can take a lifetime to happen but rewards the intrepid traveller with enduring memories of a surreal, delightful land.
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.
"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.
Close to half of women soccer fans in England and Wales have personally experienced sexist or misogynistic abuse at matches but most have never reported it to authorities, a new study by anti-discrimination charity Kick It Out revealed on Wednesday.
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.
Santosh Sivan Sivan is the first Asian to receive the prestigious Pierre Angénieux ExcelLens in Cinematography honour at the Cannes Film Festival, which celebrates outstanding contributions to the field of cinematography.
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.
India should encourage the second coming of SAARC with climate change as an urgent agenda and keeping Indian security concerns in mind as the subtext, suggest Lieutenant General Ashok Joshi (retd) and Colonel Anil Athale (retd).
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.
Harris, who is of Indian and African heritage, has received the backing from more than the 1,976 pledged delegates needed to win the Democratic Party's nomination on the first ballot, CNN reported on the first full day of her campaign.
'Bilateral trade has suffered seriously because of the growing unrest.' 'There is a standstill on both sides amid the curfew.'
Stories are legion about the Karatmeter's use at that time. Hundreds of people standing in queue for testing, customers breaking down after discovering the actual purity of their jewellery and then becoming irate about the jeweller who had gypped them, the local jewellery industry leaning heavily on the Tanishq franchisees to desist from using it, some jewellers even threatening violent action.
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
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."
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'.
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.
Ranneeti: Balakot And Beyond veers between intriguing and boring, observes Deepa Gahlot.
