AIG plans sale of business units

October 03 06:05:01 AM, Chicago Tribune

The insurer American International Group Inc. said Friday it plans to sell off a number of business units to pay off its massive government loan, while retaining its U.S. property and casualty and foreign general insurance businesses.

Source

Brandmeier scripts his own show this time
After his much-publicized, nationally syndicated television show didn't last the summer in 1991, WLUP-FM 97.9 star Jonathon Brandmeier said that all he ever wanted, all his original deal called for, was…
Detroit 3 need to consider downsizing
In telling chief executives of the Detroit Three to hasten back to Motown on their corporate jets and come up with a plan rather than just a plea for help, Democratic leaders in Congress showed the federal…
Stocks regain some ground after steep sell-off
Wall Street is experiencing some relief, with stocks opening sharply higher, following a report that a pounded-down Citigroup Inc. might put itself up for sale.
BlackBerry maker Research in Motion launches counterattack against iPhone
The company unveils the Storm, a device that lets users take pictures, play movies and music and visit Facebook and MySpace pages with ease -- and has the 'world's first "clickable" touch screen.' …
Wal-Mart names Duke to succeed Scott as CEO
BENTONVILLE, Ark. -- Wal-Mart Stores Inc., the world's largest retailer, unexpectedly announced today that its chief executive will retire in February and be replaced by the head of its international division.
Bailout door for automakers still open
Leaders in Congress agree to revisit the matter next month but want detailed plans on how the aid would be used. …
Stocks show moderate advance after sell-off
NEW YORK -- Wall Street took a break from two days of steep selling to show a moderate advance today as energy, technology and financial stocks mostly rose.
HK stocks rise on talk of China rate cut
AP - Hong Kong stocks advanced Friday, breaking a four-day losing streak, on bargain-hunting and speculation that China will cut interest rates over the weekend.
Big 3 given time to prepare plan
Congress will come back to reconsider automakers' plea WASHINGTON - In a last-minute effort to avoid a stalemate…
Scrimping shoppers flocking to store brands
In slowdown, consumers are drawn to, may stick with labels that typically cost 25% less The economy has caused…
Sears wrapping good news into holiday site
Good news at Sears is in short supply these days. So why not create some?
California unemployment jumps to 8.2%, third-highest in the U.S.
The state's unemployment rate rises half a percentage point in October from the month earlier. In the past 12 months, more than 100,000 jobs have been lost. …
Wal-Mart's Scott retiring as CEO, Duke to succeed
Reuters - Wal-Mart Stores Inc , the world's largest retailer, said Lee Scott will retire as chief executive early next year and will be succeeded by Mike Duke, who heads its international operations.
Fannie and Freddie halt foreclosures
Associated Press
Pasadena Macy's ready to unveil its new look
A sale with deep discounts brought out the crowds Thursday, but official opening is Saturday. The building, first opened in 1947 as a Bullocks department store, needed seismic upgrades and interior remodeling. …
Honda to cut more production
Reuters - Honda Motor Co (7267.T) said it would build fewer cars in Japan, Europe and North America to reflect an increasingly bleak outlook for sales as the global economic crisis discourages big-ticket…
Markets 'in panic mode'
The blue-chip index closes the day at 7,552 -- its lowest since March 2003 -- as investors endure another spate of depressing economic news and anxiety over the fate of troubled U.S. automakers. …
Wall Street futures shoot up
Reuters - Stock futures pointed to a rebound on Friday after sharp losses in the previous session. Dow Jones futures were up 3.9 percent, S&P 500 futures were up 4.5 percent and Nasdaq futures were up…
Downey Financial could be next bank casualty
Mortgage losses have weakened the S & L to the point that there's little hope it can win government bailout funds, observers say. …
Citigroup stock dive rebuffs claim by Treasury's Paulson
The financial giant's shares lead a meltdown in financial issues just one week after Paulson says he believes 'the banking system has been stabilized.' …
State Farm, Farmers to raise California homeowner insurance rates
Insurance Commissioner Steve Poizner's decision is denounced by some, but others say recent wildfires make increases reasonable. …
Report: Ford Germany needs no state bailout money
AP - Bernhard Mattes, chief of Ford Motor Co's. German unit, said that while the company can survive without a bailout from the German state, it hopes the European Union will help the ailing auto industry…
Oil falls below $50
Oil prices fell below $53 to almost a two-year low Thursday as investors, worried by plummeting stock markets, priced in lower crude demand as the global economic downturn shapes up to be the worst in…
Hunter out, Wiebking in as Provena Health CEO
Steven Hunter is out after less than 18 months as chief executive of one of the Chicago area's largest hospital operators.