"It analyzes baseball tickets was not diagnoses an easy match...it's going to be much more difficult for me to win (a grand slam) here than Paris. I realize that."(Editing by Ken FerrisTo query or comment on this story email ) Sports Russia. NEW YORK (Reuters) - The federal government has agreed to accept $25 billion of preferred stock in two American International Group Inc (AIG.N) businesses as partial repayment of debt, the company said on Thursday. Deals | Stocks | Mergers & Acquisitions | Bonds | IPOs | Funds News | ETFs News | Crisis in Credit | JapanThe agreement will reduce AIG's debt of about $40 billion under a Federal Reserve Bank of New York credit facility, but it will still be a while before taxpayers get any cash back for their bailout of the insurer.Since its near-collapse last September, U.S. taxpayers have committed up to about $180 billion to rescue AIG, including the loan under the credit facility and a $40 billion equity injection.AIG also said the agreement positions the two businesses, American International Assurance Co Ltd (AIA) and American Life Insurance Co (Alico), for initial public offerings, depending on market conditions.AIG has already begun the process for an IPO of AIA early next year, selecting Morgan Stanley (MS.N) and Deutsche Bank AG (DBKGn.DE) as global coordinators for the offering.The pact on AIA and Alico follows an agreement AIG reached with the government in March. At that time, the company said the preferred stock in the two units would reduce its balance under the credit facility by up to $26 billion.The embattled insurer said on Thursday it will put the equity of the units into special purpose vehicles, and the New York Fed will receive preferred stakes of $16 billion in AIA and $9 billion in Alico.Edward Liddy, AIG's chief executive, said the agreement "represents a major step toward repaying taxpayers and preserving the value of AIA and Alico."The New York Fed, in a separate statement, said the agreement will help AIG repay taxpayers and restructure. He said at the time it might take several years for AIG to repay taxpayers.AIG shares were unchanged at $1.42 in morning trading on the New York Stock Exchange.(Reporting by Jonathan Stempel and Paritosh Bansal in New York and Sweta Singh in Bangalore; Editing by Dinesh Nair and John Wallace) Deals Stocks Mergers & Acquisitions Bonds IPOs Funds News ETFs News Crisis in Credit Japan.
LONDON, June 25 (Reuters) - European shares closed lower onThursday as banks and drugmakers fell, while data showing thenumber of U.S cubs rooftop . workers filing new claims for jobless benefitsunexpectedly rose last week hit investor sentiment . Stocks | Global Markets The pan-European FTSEurofirst 300 .FTEU3 index of topshares provisionally ended 1 percent lower at 845.00 points . Butthe index has rebounded around 30 percent since hitting alifetime low on March 9 Banks took the most points off the index . Standard Chartered(STAN.L) fell 2.4 percent after a trading update from theAsian-focused bank provided no real surprises. [ID:nLP44217] HSBC (HSBA.L), Credit Suisse (CSGN.VX) and UBS (UBSN.VX)were down 2.1-5.9 percent. "Considering the (jobless) data from the U.S., things arenot really developing in line with expectations.
The labourmarket is still not in a great shape which have cooled things toa certain degree down," said Heino Ruland, strategist at RulandResearch kansas city royals . "Investors are looking for some hard facts that things arereally improving . I think we are going to be in shaky marketsfor the next two or three weeks at least," he said . Initial claims for state unemployment insurance increased by15,000 to a greater-than-expected seasonally adjusted 627,000from a revised 612,000 the week before, the U.S LaborDepartment said . Analysts polled by Reuters had forecast claimsto drop to 600,000 from a previously reported 608,000.[ID:nN25258460] However, investors took some solace from the final readingof first-quarter gross domestic product, which contracted lessthan thought.
[ID:nN25258161] (Reporting by Joanne Frearson) Stocks Global Markets kansas city t bones . SANTA MONICA, Calif.--(Business Wire)--This month's new vehicle sales (including fleet sales) are expected to be887,000 units, a 25.3 percent decrease from June 2008 but a 3.9 percent decreasefrom May 2009, according to Edmunds , the premier online resource forautomotive information . "The SAAR is finally back in double-digits," observed Jesse Toprak, ExecutiveDirector of Industry Analysis for Edmunds . "We`re still a long way from 16million unit sales, but things are moving in the right direction." June 2009 had 25 selling days, one more than last June 2008 . When adjusted forthis difference, sales decreased 28.3 percent from June 2008. (The chart belowsets forth other unadjusted and adjusted comparisons.)Change from Change from Change from June 2008June 2008May 2009 (Adjustedfor (Unadjusted(Unadjustedmore selling for more for fewerdays)selling days)selling days) Chrysler (Chrysler, Dodge, Jeep) -31.9%-29.1%5.3% Ford (Ford, Lincoln, Mercury, Volvo) -19.0%-15.6%-7.7%GM (Buick, Cadillac, Chevrolet, GMC, Hummer, Pontiac, Saab, Saturn)-31.7%-28.9%-2.1%Honda (Acura, Honda) -34.2%-31.4%1.3% Hyundai (Hyundai, Kia) -18.1%-14.7%6.0% Nissan (Infiniti, Nissan)-27.2%-24.2%-14.8% Toyota (Lexus, Scion, Toyota)-31.5%-28.7%-9.7%Industry Total -28.3%-25.3%-3.9% The combined monthly U.S. market share for Chrysler, Ford and General Motors(GM) domestic nameplates is estimated to be 47.0 percent in June 2009, up from46.6 percent in June 2008 and up from 46.5 percent in May 2009.
"An interesting note: minivan sales should be up about 12 percentmonth-over-month," Toprak told Edmunds' AutoObserver . "With generousincentives drawing attention to this segment, many families are rediscoveringminivans as the most practical and least costly way to transport people andthings." Edmunds predicts Chrysler will sell 83,000 units in June 2009, down 29.1percent compared to June 2008 and up 5.3 percent from May 2009 . This wouldresult in a new car market share of 9.4 percent for Chrysler in June 2009, downfrom 9.9 percent in June 2008 and up from 8.5 percent in May 2009 . Edmunds predicts Ford will sell 147,000 units in June 2009, down 15.6percent compared to June 2008 and down 7.7 percent from May 2009 .
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