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AIG to Pay $80 Million in U.S. Settlement

NEW YORK (Reuters) - Insurer American International Group Inc. (AIG.N: Quote , Profile , Research ) said on Wednesday it has agreed to pay an $80 million penalty and appoint an independent monitor as part as a proposed settlement with U.S. authorities related to helping companies fraudulently inflate earnings. The ... : AIG to Pay $80 Million in U.S. Settlement

Marsh to Pay $850 Mln in Bid-Rigging Case

By Jonathan Stempel NEW YORK (Reuters) - Marsh & McLennan Cos. (MMC.N: Quote , Profile , Research ) on Monday agreed to pay $850 million to settle charges it conspired with insurers to rig bids, raising hopes the world's biggest insurance broker can start to move past the scandal. The settlement sent Marsh shares up as much as 4.5 percent. It ends a battle with New York Attorney General Eliot Spitzer, who accused Marsh in an Oct. 14 complaint of colluding with American In... : Marsh to Pay $850 Mln in Bid-Rigging Case

AIG's Greenberg Steps Down as CEO

NEW YORK (Reuters) - American International Group (AIG.N: Quote , Profile , Research ) on Monday said Maurice "Hank" Greenberg stepped down as chief executive amid an ongoing investigation by New York Attorney General Eliot Spitzer into allegations of bid rigging within the insurance industry. The company also said Chief Financial Officer Howard Smith ha... : AIG's Greenberg Steps Down as CEO

Merck Recall Seen Hitting Stocks at Open

By Michael Flaherty NEW YORK (Reuters) - Stocks looked to open lower on Thursday after drug company Merck & Co.(MRK.N: Quote , Profile , Research ) said it was recalling a key drug, sending Dow Jones industrial futures tumbling. Dow component Merck said it is withdrawing arthritis drug Vioxx globally following indications after a colon cancer t... : Merck Recall Seen Hitting Stocks at Open

Ex-BoA broker acquitted on most counts

By Jonathan Stempel NEW YORK (Reuters) - In a defeat for New York Attorney General Eliot Spitzer, former Bank of America Corp. (BAC.N: Quote , Profile , Research ) broker Theodore Sihpol on Thursday was acquitted by a Manhattan jury of 29 counts of helping a hedge fund trade mutual funds illegally. New York Supreme Court Justice James Yates declared a mistrial on four other counts on which the jury deadlocked. Lawyers said the verdict might erode some ... : Ex-BoA broker acquitted on most counts
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