China in auto power play
It might not shake up the industry just yet, but China's interest in Volvo and Saab is the start of something big in global autos, writes columnist Wei Gu. Commentary
FACTBOX: Key facts on American International Group
(Reuters) - U.S. authorities on Tuesday put together an emergency $85 billion rescue of insurer American International Group Inc to stave off a possible bankruptcy, and avoid throwing world markets already shaken by the deepening credit crisis into more turmoil.
The U.S. Federal Reserve planned to extend a two-year loan to AIG in exchange for a 79.9 percent equity stake, just two days after Washington refused to bail out investment bank Lehman Brothers Holdings Inc, which went bankrupt.
Here are some facts on AIG:
-- Employs more than 116,000 employees, and many full- and part-time agents, worldwide.
-- Operates in 130 countries and jurisdictions, including Brazil, China, India and Taiwan, as well as the United States and United Kingdom.
-- Business segments are General Insurance, Life Insurance & Retirement Services, Financial Services and Asset Management.
-- Has assets of more than $1 trillion.
-- Lost $5.36 billion in the second quarter on bad mortgage investments, its third straight quarterly loss.
-- Bailout brings U.S. rescue efforts to stabilize the financial system and housing market to about $900 billion.
