Feds say AIG plan completed to repay bailout funds
The Treasury announced that AIG has completed a restructuring plan and repaid 47 billion dollars to the New York Fed. Treasury aims to divest its 92 percent stake within two years as it recovers taxpayer money from the 182 billion dollar rescue.
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Stocks Dip After Job Applications Rise
New York AP reports initial unemployment claims rose 35 000 to 445 000, the highest since October and above forecasts. Dow fell 23 points to 11731.9 while S&P 500 slipped 2 and Nasdaq eased 2. Whole Foods jumped 4.6 percent as inflation signals cooled. Merck dropped 6.6 percent after vorapaxar trial discontinuation.
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