Ex-AIG CEO's $25bn bailout lawsuit to go ahead


A federal judge has rejected the United States' bid to dismiss a more than $25bn lawsuit filed by Maurice 'Hank' Greenberg, the former chief executive of American International Group Inc, over the insurer's government bailout, clearing the way for a September 29 trial.

AIG cuts workforce by 3% after earnings beat

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American International Group reported quarterly earnings and revenue that easily beat analysts' expectations on Thursday and announced it will cut its workforce by 3 percent because of a charge taken in the fourth quarter.

AIG boss backs away from lynching comments

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The CEO of bailed-out insurance giant American International Group has backed away from inflammatory comments in which he compared the public anger over bonuses to the lynching of African Americans in the Deep South.