AIG's chair announces retirement
INSURANCE:
Amid probes by the US' SEC and New York's attorney general, Hank Greenburg has said he will step down after 40 years with the company
Maurice "Hank" Greenberg will retire this week as chairman of American International Group Inc (AIG), ending a four-decade career with the insurance company as regulators investigate questionable financial transactions that occurred during his tenure.
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China's new rules aim to curb corruption
BANKING SECTOR:
Some of the new regulations include making senior managers legally responsible for fraud cases and offering rewards for uncovering wrongdoing
Seeking to halt a recent increase in bank corruption, China published rules on Monday offering generous rewards to bank employees who expose corruption.
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Private investment firms buy SunGard
In a move reminiscent of the blockbuster buyouts of the late 1980s, seven private investment firms said they would pay almost US$11 billion in cash to acquire SunGard Data Systems Inc, the financial software powerhouse known for trading services and creating backup data systems in the event of a disaster.
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Sony faces possible ban on US sales of PlayStation console
Sony Corp has been ordered to pay US$90.7 million and halt US sales of PlayStation consoles for patent infringement, but the trial judge granted a stay on the sales ban, pending Sony's expected appeal.
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HK park gears up to take on Disneyland
Ocean Park has been Hong Kong's most successful theme park for nearly 30 years, wowing generations of visitors with dolphin shows, stomach-churning roller coasters and a cable car ride over a mountain with spectacular views of the South China Sea.
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World Business Quick Take
■ Stock markets IBM to exit Tokyo exchange
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