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Monday, November 10, 2008

AIG, U.S. May Restructure Loan in $150 Bn Bailout Package

American International Group Inc., the insurer bailed out by the U.S., may get lower interest rates and more time to repay its debt in a new government rescue package valued at more than $150 billion.

The U.S. will revise the original $85 billion loan that saved the New York-based insurer in September by giving it $40 billion in exchange for preferred shares, and spending $52.5 billion to buy mortgage-backed securities from AIG, according to a person familiar with the situation.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Tuesday, Jun 03
19:30 JOLTS Job Openings 2 7.391M 7.100M 7.200M Revised from 7.192M
n/a GDT Price Index 1 -1.6% -0.9%
22:15 Fed's Goolsbee speech 2
22:30 Fed's Cook speech 2
Wednesday, Jun 04
n/a Total Vehicle Sales 1 16.3M 17.3M
02:00 API Weekly Crude Oil Stock 1 -4.236M
04:30 AiG Industry Index 2 -15
04:30 Ai Group Manufacturing PMI 1 -26.5
04:30 S&P Global Services PMI 2 50.5 50.5
04:30 S&P Global Composite PMI 2 50.6
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