Reuters - American International Group Inc
, the world's largest insurer, posted its largest ever
quarterly loss on Thursday after writing down assets linked to
subprime mortgages, and said it would raise $12.5 billion to
strengthen its balance sheet.
Reuters - Oil rose to a fresh record near $125 a
barrel on Friday, as a strong performance over the last week
and a surge in heating oil futures convinced investment funds
to push prices higher.
Reuters - Citigroup Inc will present plans to
sell as much as $400 billion of extraneous assets when it meets
with investors and analysts on Friday, a person familiar with
the situation said.
Reuters - Japan's Nissan Motor Co said on Friday it
had appointed Hover Automotive India Private to develop its
sales network in India, with the aim of establishing 55 dealers
by 2012 to sell more than 100,000 vehicles that year.
AP - Caught in the maelstrom of higher gas and food prices, Americans — even more affluent ones — are seeking shelter in wholesale clubs and discount apparel chains.
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Grand Theft Auto IV Speeds Past Six Million Mark
(NewsFactor)
NewsFactor - Since its release on April 29, global sales of the Grand Theft Auto 'GTA IV' video game from Take-Two Interactive Software (Nasdaq: TTWO) have surpassed six million units, with an estimated retail value of more than $500 million in the first week. Over the first day alone, GTA IV sales were approximately 3.6 million units with a retail value of $310 million worldwide.
AP - Without the influx of Web traffic that Microsoft bet would quickly follow a Yahoo buyout, the software maker is facing a long slog if it wants to turn its money-losing online services business into a Google-killer.
Reuters - Pierre Avignon is no pirate, but he does
not believe in paying for software. His computer is filled with
programs like Symphony -- a free suite that he downloaded from
an International Business Machines Corp website
(http://symphony.lotus.com).