American International Group Inc. said Thursday it will reduce outstanding federal loans by $25 billion by giving the government a preferred stake in two units that will be spun off from the insurance giant.
President Barack Obama extended both a sharp stick and an olive branch to critics of his far-reaching plan to overhaul the nation's health care system Tuesday, openly ridiculing those who attacked his proposal for an optional government insurance plan but also leaving the door open to compromise.
Citigroup Inc. is increasing base salaries for many of its employees — reportedly by as much as 50 percent for some workers — as it restructures its compensation program amid new restrictions on bonus payments.
With signs the economy is improving but still fragile, Federal Reserve policymakers are considering whether some programs intended to drive down rates on mortgages and other consumer debt should be slowed down.
Drugstore operator Rite Aid Corp. said Wednesday it narrowed its fiscal first-quarter loss by closing stores and trimming costs, but it expects a greater deficit for the year because of refinancing expenses.
Social-networking site MySpace said Tuesday it plans to cut 300 jobs, or two-thirds of its overseas work force, in an effort to rein in costs and focus on countries where it has many users and better business opportunities.
A Washington Metro train slammed into the rear of another during the evening rush hour on Monday, killing at least six people and injuring at least 76 others in the worst disaster in the 33-year history of Washington's rapid transit system.