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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: AIG

AIG stories: 205 news summaries

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MARKETS

 Stocks Reverse; Dow Down 280 

Lehman Bros., housing weigh on investor sentiment

Sep 9, 08 3:16 PM CDT
(Newser) - After a strong rally yesterday following news of the Fannie/Freddie bailout, stocks gave most of the gain back today as the failure of talks between Lehman Brothers and Korea’s state bank sent shares in the investment giant down 44.1%, MarketWatch reports. The Dow fell 280.01 to close... More »

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Dow Jones • home sales • American Express • Lehman Brothers • Nasdaq • AIG • financial institutions • S&P 500 • oil prices • Korea Development Bank • Hurricane Ike

MARKETS

 Housing, AIG Spur Losses

AIG is the troubled financial firm du jour

Aug 25, 08 3:27 PM CDT
(Newser) - Stocks fell today as bad news from the housing and financial sectors diminished hopes that the economic slump will lift soon, the Wall Street Journal reports. The Dow fell 241.81 points to 11,386.25, led by a 5.5% loss at beleaguered insurer AIG. The Nasdaq fell 49.... More »

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Dow Jones • Lehman Brothers • Nasdaq • AIG • home prices • financial sector • S&P 500 • financial crisis

MARKETS

 Losses Continue for 2nd Day 

Stagflation stalks the Street; retailers post poor results

Aug 19, 08 3:31 PM CDT
(Newser) - Stocks fell today for a second straight session as doubts about financials persisted and economic news painted gloomy outlooks on inflation and housing, MarketWatch reports. Disappointing quarterly reports from the retail sector made a bad situation worse. The Dow fell 130.84 to 11,348.55, the Nasdaq 32.62... More »

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retail • Dow Jones • Staples • Nasdaq • Home Depot • AIG • housing starts • S&P 500 • Saks • financial stocks • wholesale prices • financial crisis

MARKETS

 Bad News Spurs Big Sell-Off

Poor results at AIG, nervous retailers, rising oil all contribute to decline

Aug 7, 08 3:25 PM CDT
(Newser) - The markets suffered big losses today as investors were confronted by bad news from retail and financial giants, as well as a 6-year-high in weekly unemployment, the Wall Street Journal reports. The Dow fell 224.64to 11,431.43. The Nasdaq lost 22.64 to finish at 2,355.73,... More »

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Federal Reserve • Dow Jones • Nasdaq • Freddie Mac • Fannie Mae • AIG • S&P 500 • Wal-Mart • financial crisis

MARKETS

 Rally Goes On, Modestly

Cisco provides some good news, though investors not totally cheered

Aug 6, 08 3:42 PM CDT
(Newser) - Oil prices continued to fall, spurring modest gains for the markets today, but Freddie Mac’s enormous second-quarter loss signified that the housing and credit crises are not over yet, the Wall Street Journal reports. The Dow rose 40.30 to close at 11,656.07. The Nasdaq gained 28.... More »

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Dow Jones • Nasdaq • Freddie Mac • AIG • Cisco • S&P 500 • Societe Generale • oil prices

MARKETS

 Dow Plunges 239 Points 

S&P 500 sheds 1.9%; financials lead retreat

Jul 28, 08 3:39 PM CDT
(Newser) - The markets plummeted today as worries over the economy and problems in the financial sector outweighed high spirits over the rescue plan for mortgage giants Fannie Mae and Freddie Mac, MarketWatch reports. The Dow plunged 239.61 to 11,131.08, the Nasdaq nosedived 46.31 to 2,264.22,... More »

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stock market • Verizon • Dow Jones • Tyson Foods • Freddie Mac • Fannie Mae • AIG

MARKETS

 $142 Oil Drives Stocks Down 

New crude record hampers recovery from Thursday's fall

Jun 27, 08 3:29 PM CDT
(Newser) - The markets fell today, continuing the slide that marked yesterday’s session. Investors continued to mull the tidal wave of bad news that hit the financial, tech and consumer discretionary sectors Thursday, MarketWatch reports. The Dow fell 104.46 to 11,348.96, the Nasdaq lost 5.74 to close... More »

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NASDAQ • Dow Jones • AIG • oil price • crude oil • S&P 500 • financial stocks

GLOSSIES

Feisty Exec Straddles Two Financial Crises

Greenberg's clout evident in AIG ouster, bailout of Lehman

Jun 17, 08 7:50 PM CDT
(Newser) - At age 83, Hank Greenberg is on anything but a quiet path to retirement. The legendary exec is smack in the middle of two of the biggest financial stories of the day—the upheaval at insurance giant AIG and the struggle to salvage Lehman Brothers. Portfolio looks at Greenberg's reversal... More »

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finance • Lehman Brothers • AIG • Hank Greenberg • Martin Sullivan • financial crisis

 Embattled AIG CEO Steps Down 

Board replaces Sullivan with Citi exec Willumstad

Jun 15, 08 3:43 PM CDT
(Newser) - Martin Sullivan has stepped down as AIG's CEO, and the company's board named chairman Maurice Willumstad his successor, insiders tell the Wall Street Journal. The insurance giant's stock has plummeted more than 50% since October due to subprime writedowns, and Sullivan is still embroiled in legal battles with his former... More »

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insurance companies • subprime mortgages • CEO • AIG • subprime crisis • American International Group • Martin Sullivan • insurance industry • financial crisis

MARKETS

 Dow Plummets Almost 400 

Weekly loss of 3.5% off jobs, crude

Jun 6, 08 3:22 PM CDT
(Newser) - The markets took huge losses today, battered by $139 oil and the worst unemployment report in 4 years, MarketWatch reports. The Dow fell 394.64 to close at 12,209.81, and down 3.5% for the week. The Nasdaq fell 75.38 to 2,474.56, a 1.9%... More »

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Intel • Dow Jones • Nasdaq • AIG • oil price • S&P 500

MARKETS

 Markets Up in Rollercoaster Day 

Dow posts modest gain on mixed news

May 28, 08 3:34 PM CDT
(Newser) - Stocks rose, fell, and rose again as mixed economic news pulled the market in opposite directions today, the Wall Street Journal reports. The Dow ended up 45.68, at 12,594.03. The Nasdaq climbed 5.46 to 2,486.70, and the S&P 500 rose 5.49 to... More »

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Dow Jones • Nasdaq • AIG • aircraft • Department of Commerce • S&P 500 • financial stocks

MARKETS

 Bad News Pummels Stocks 

AIG, Citi, oil spook investors; even commodities look less safe in downturn

May 9, 08 3:28 PM CDT
(Newser) - Stocks performed poorly today, battered by another new oil high and bad news from AIG and Citigroup, Bloomberg reports. The Dow lost 120.90 to end at 12,745.88, with a weekly loss of 2.4%. The S&P 500 shed 9.50 to 1,388.28, while the... More »

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Citigroup • Dow Jones • ExxonMobil • Nasdaq • AIG • oil price • crude oil • S&P 500 • financial stocks

Mammoth Writedowns Hammer AIG

Insurance giant posts $7.8B 1Q loss as
credit woes continue

May 9, 08 2:41 AM CDT
(Newser) - American International Group posted a record-breaking $7.8 billion first-quarter loss yesterday, reports the Wall Street Journal. The insurance giant blamed the poor results on the sagging housing market, the credit crunch and the see-sawing stock market. It announced plans to raise $12.5 billion to patch up the damage... More »

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insurance • derivatives market • AIG • credit crisis • writedowns • quarterly results • losses • Martin Sullivan • JPMorgan Chase • financial crisis

MARKETS

 Bear Bailout Invites the Bears 

Financial sell-off follows Fed's move, sends markets plummeting

Mar 14, 08 3:40 PM CDT
(Newser) - News of the Bear Stearns bailout triggered a sell-off today as investors were reminded that the true depth and breadth of current credit problems remains uncertain, the Wall Street Journal reports. Bear Stearns stock closed at 30, down a breathtaking 47.4% on the day. The Dow fell 194.65... More »

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Citigroup • Bank of America • Federal Reserve • Dow Jones • Bear Stearns • American Express • Nasdaq • AIG • Countrywide Financial • S&P 500 • Federal Reserve Bank of New York • financial crisis

Wall Street Faults Rules
on Writedowns

Critics say accounting rules exaggerate losses, hinder market

Mar 1, 08 12:09 PM CST
(Newser) - After months of staggering writedowns battering Wall Street, some investors and executives are charging that accounting rules are exaggerating losses and triggering slumps like yesterday’s 315-point plunge in the Dow, reports the Wall Street Journal. Rules requiring companies to value holdings at current market rates, no matter how volatile,... More »

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Wall Street • investors • Federal Reserve • UBS • AIG • write down • subprime crisis • financial crisis

Berkshire Hathaway's Q4 Income Off 18%

Insurance-industry woes mean 'that party is over,' Buffett says

Feb 29, 08 6:30 PM CST
(Newser) - Citing a decline in gains from insurance underwriting and sluggish investment returns, holding company Berkshire Hathaway said today that fourth-quarter income was off 18%—to $2.95 billion, from $3.58 billion—from a year earlier, the Wall Street Journal reports. Billionaire chairman Warren Buffett snuck in digs at Wall... More »

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insurance companies • New York City • Maryland • Warren Buffett • Omaha • AIG • MBIA • Berkshire Hathaway • Oracle of Omaha • Ambac • General Reinsurance • FGIC

MARKETS

Tanking Dow Drops 315 Points

Huge AIG, Dell losses spark sell-off

Feb 29, 08 3:15 PM CST
(Newser) - The Dow lost an incredible 315.79 points today to close at 12,266.39 as AIG reported the biggest losses in its history and bellwether Dell reported a year-over-year fourth-quarter profit decline of 6%. The Nasdaq slipped 60.09 to 2,271.48, and the S&P 500 lost... More »

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Dell • Dow Jones • Nasdaq • consumer spending • AIG • The Gap • gold • commodities • S&P 500 • Ambac

AIG Posts
$5.2B Loss
on Writedown

Giant insurer takes $11B charge on mortgage woes

Feb 28, 08 5:49 PM CST
(Newser) - Today's after-hours bad news from the credit-crunch front comes from insurer AIG, which reported a fourth-quarter loss of $5.29 billion after taking an $11 billion writedown on mortgage-related insurance contracts, the Wall Street Journal reports. The loss amounts to $2.08 per share; American International Group turned a profit... More »

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AIG • credit crisis • writedowns • American International Group • mortgage insurance • Martin Sullivan • financial crisis

Jury Convicts Ex-Insurance Execs in Fraud

Five General Re and AIG officials face
jail over scheme to deceive investors

Feb 26, 08 9:48 AM CST
(Newser) - A federal jury yesterday convicted five former insurance executives of fraud, conspiracy, and making false statements to the Securities and Exchange Commission as part of a scheme to deceive investors, Bloomberg reports. The convictions stem from a sham transaction in 2000 between General Reinsurance Corp. and American International Group that... More »

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fraud • Warren Buffett • SEC • AIG • Hank Greenberg • Berkshire Hathaway • General Re Corp • General Reinsurance • American International Group

MARKETS

Stocks Climb Out of a Hole

Dow edges back up after AIG-sparked plummet

Feb 11, 08 3:44 PM CST
(Newser) - Stocks climbed to post modest gains today after a plunge early in the session. Financials fell early after AIG said its credit-derivatives portfolio lost $4.88 billion, significantly more than the company had estimated in December, reports the Wall Street Journal. The Dow closed up 57.88 at 12,240.... More »

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stock market • AIG

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