Daily News Channel
Is Maurice Greenberg a liar? That seems to be the multibillion-dollar question in an ongoing court battle that pits Greenberg and his firm Starr International against his former employer AIG. The deeply troubled insurance giant claims Greenberg, through Starr International, improperly gained control of hundreds of millions of shares of AIG stock when he was booted from the company in 2005.
General Motors appears to be on a fast road to bankruptcy . Chief executive officer Fritz Henderson has already described a bankruptcy filing as ‘probable’ as the U.S
If you want to stare deep into the crater of the world economy, look at the largest public company listings over the past year. By May 2008, a U.S
A triple-digit rally on Wall Street pushed Asian and Pacific markets solidly into positive territory on Tuesday.
It’s ugly, but it’s true: when a Washington power player looks set to fall, the capital drools. So Treasury Secretary Timothy Geithner found himself the object of intense interest when he came before the House Ways and Means committee to testify Tuesday. It was his first major public appearance since his less than inspiring rollout Feb.
Faced with ubiquitous signs of global economic meltdown, investors sold stocks in force on Tuesday, dragging the broad market indexes down near the lows reached last November. The Standard & Poor’s 500 index, weighed down by financials, fell 4.56%, while the Dow Industrials sank 3.8%, falling to within a fraction of its November 2008 low. Among the hardest hit sectors were bank stocks, down 10%, oil service stocks, down 8.2%, and semiconductor stocks, which fell 6.7%