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AIG in talks for third US govt bail out

AIG is negotiating a third bail out with the US government ahead of an expected fourth quarter loss of more than £16.9bn, according to the Financial Times.

It reports that the insurer, which is already 80 per cent taxpayer-owned, could announce the rescue plan, along with its results, as early as next week.

The FT says the bail out could see the government swap some of the £41.4bn five-year loan it made to AIG in November and a portion of its £27.5bn in preferred stock for equity.

AIG confirmed it is in talks and says: “We continue to work with the Federal Reserve Bank of New York to evaluate potential new alternatives for addressing AIG’s financial challenges.”


Sovereign risk is key structured issue

Jubilee Financial Products says the credit rating of a structured product issuer should be less of a consideration for advisers than the government that backs the bank.

Opening up wraps

At last we have momentum and a will to clarify wrap platforms charges.

20% chance of Armageddon – Mott

PSigma income manager Bill Mott believes there is now a 20 per cent chance of Armageddon for the UK economy.

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Johnson Fleming set to hold auto-enrolment support webinar

Two years since the process of auto-enrolment began, the looming re-enrolment deadline provides the perfect opportunity to assess whether the support you have in place, which may well have been hastily selected at the start, is fit for purpose. Johnson Fleming is holding a webinar on 10 September at 11:00 to discover the key issues and concerns you should consider when thinking about your current support options.


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