AIG's bonus payout with rescue aid
NEW YORK - THE US government will modify a planned US$30 billion (S$45 billion) capital injection for American International Group Inc to try to recoup hundreds of millions of dollars in controversial bonuses, a Treasury official said on Monday.
Meanwhile, New York's top legal officer vowed to take AIG to court if it did not provide full details of the bonus payments.
NEW YORK - THE US government is seeking to seize property belonging to disgraced Wall Street financier Bernard Madoff, including some of his wife's assets, prosecutors said on Monday.
A filing in a US district court in New York outlined 18 types of fixed and liquid assets ordered seized by prosecutors.
WASHINGTON - PRESIDENT Barack Obama moved to boost US job creation on Monday by making it easier for small business owners to borrow money and by spending up to US$15 billion (S$23 billion) to ensure credit is available for small business loans.
Mr Obama, facing criticism over his moves to bail out Wall Street, said help was on the way for small business owners who are also hurting in the deep US recession.
ISLAMABAD - PAKISTAN pledged on Monday to restore its deposed top judge and end a crackdown on activists, caving in under mass protests to try to defuse a crisis that took the nation to the brink of chaos.
Main opposition leader Nawaz Sharif welcomed what he called an historic achievement and promptly called off a mass protest march that had been due to descend on the capital on Monday, averting widespread fears of unrest.
