WASHINGTON - AIG said on Thursday it has sold two business units for more than US$1 billion (S$1.5 billion) as it works to repay the US government.

AIG said it completed the sale of AIG Life of Canada to BMO Financial Group on Wednesday for some US$263 million.

WASHINGTON - THE Democratic-controlled US Congress on Thursday moved toward passing a federal budget that embraces President Barack Obama's initiatives on healthcare, energy and education but leaves the government deeply in debt for the foreseeable future.

The House of Representatives and Senate were poised to approve slightly different, less expensive versions of Mr Obama's US$3.55 trillion (S$5.33 trillion) budget plan for fiscal 2010, which begins on Oct 1.

PITTSBURGH - BOEING on Thursday reported another sharp decline in orders for passenger and freight jets, as the global economic slowdown batters demand for aircraft.

March orders for Boeing's commercial planes totaled six, down from 99 bookings in the same month last year, according to figures posted on the company's Web site and a company spokesman.