Don't miss

Replay


LATEST SHOWS

THE DEBATE

What's next for the "Islamic State Group"?

Read more

ENCORE!

Opera singers Thomas Hampson & Luca Pisaroni return to Paris

Read more

FOCUS

Hunger has forced many Nigerian refugees in northern Cameroon to return to dangerous Boko Haram territory.

Read more

BUSINESS DAILY

US investigating China's intellectual property policy

Read more

IN THE PAPERS

Bonnie Tyler to sing 'Total Eclipse of the Heart' during total solar eclipse

Read more

IN THE PAPERS

Fighting back: How can Europe protect citizens from 'soft target' terrorism?

Read more

EYE ON AFRICA

Kenya’s opposition files a petition against presidential vote

Read more

MEDIAWATCH

'Siempre vida Barcelona'

Read more

THE DEBATE

Spain attacks - Can Europe prepare for vehicle-ramming terror attacks?

Read more

Business

AIG to be broken up within four years: CEO

Latest update : 2009-03-19

AIG head Edward Liddy said before the US House of Representatives that the bailed out company will be dismantled to minimise risk within four years.

AFP - Insurance giant AIG is to be broken up within four years, its CEO Edward Liddy told lawmakers on Tuesday as the bailed-out company faced mounting pressure over lavish bonuses.
   
"The dividing of AIG is exactly what we're doing so the entity that existed for 90 years as AIG will over time cease to exist," Liddy said.
   
"This business will get a lot smaller at the end of '09. A whole lot smaller at the end of 2010. As it gets smaller it just represents much less risk," said the CEO of American International Group.
   
Asked how long the process would take, he responded: "Four years."

Date created : 2009-03-18

COMMENT(S)