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.