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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
Saturday, Apr 05
01:00 CFTC S&P 500 NC Net Positions 1 $-19.0K $-53.4K
01:00 CFTC Oil NC Net Positions 1 167.7K 180.6K
01:00 CFTC Gold NC Net Positions 1 $238.4K $249.8K
01:00 CFTC GBP NC Net Positions 1 £34.6K £44.3K
01:00 CFTC AUD NC Net Positions 1 $-75.9K $-77.4K
24h Daylight Saving Time Ends 0
24h Daylight Saving Time Ends 0
Monday, Apr 07
07:00 ANZ Job Advertisements 1 -1.4%
11:30 Halifax House Prices (YoY/3m) 1 2.9%
11:30 Halifax House Prices (MoM) 1 0.2% -0.1%
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