Victims who lost millions of dollars in the multibillion-dollar fraud perpetrated by Bernard Madoff described their ruined lives Monday to the judge sentencing the 71-year-old former Nasdaq stock market chairman.
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.
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.