AIG seeks to cut influence payout to ex-employees

Paritosh Bansal NEW YORK Mon Mar 1, 2010 1:57pm EST

The American International Group (AIG) construction is seen in New York, Mar 24, 2009.

Credit: Reuters/Shannon Stapleton

Stocks & &

NEW YORK (Reuters) - American International Group Inc (AIG.N) has asked former employees of the Financial Products section for report about how most they warranted elsewhere after withdrawal the association as it prepares to palm them "retention payments," a source informed with the make a difference pronounced on Monday.

The payments, that critics call bonuses underneath an additional name, are due to laid-off employees underneath their contracts as the section dismantles the operations.

AIG Financial Products would revoke the volume of influence payments to these former employees by the volume they have warranted elsewhere given withdrawal the company, the source said, disappearing to be declared since the letters are not public.

About 70 people are authorised to get these payments and the letters were sent out late last week, the source said.

AIG, that is scarcely 80 percent owned by the U.S. supervision after a $182 billion taxpayer bailout, caused a open cheer over influence payments to Financial Products employees, the section that was at the back of the nearby fall in Sep 2008.

It paid $165 million last year to employees of Financial Products section and was due to compensate out an additional $195 million after this month.

But most AIG Financial Products employees, together with roughly all stream staff authorised for these payments, concluded last month to take a $20 million cut in lapse for an early payment.

The rest of the stream and former employees authorised for these payments are due to be paid by Mar fifteen underneath their contract.

AIG declined to comment.

Separately, AIG concluded to sell the Asian hold up word section to Britain"s Prudential PIBAX.O for about $35.5 billion.

(Reporting by Paritosh Bansal; Editing by Richard Chang)

Premier League will not bail Portsmouth out

Portsmouth owners Balram Chainrai has been told at a assembly with Premier League chiefs that they cannot bail out the financially-stricken club.

Chainrai and his member met Premier League arch senior manager Richard Scudamore and ubiquitous cabinet member Mike Foster yesterday and suggested to them the bar is expected to go in to administration department on Friday.

Scudamore explained the incident in conditions of the income Portsmouth will embrace this deteriorate and, as right away seems certain, if they are relegated.

A serve remuneration of �5million from radio income will turn accessible prior to the finish of the deteriorate and, following relegation, parachute payments of �16million per year for dual years.

Chainrais spokesman, Phil Hall, said: We had a really considerate assembly to try all possibilities and any assistance the Premier League competence give Portsmouth FC going forward.

The Premier League officials additionally told Chainrai they could not allege the bar any income brazen of the due remuneration date.

Chainrai has served notice the bar will go in to administration, unless a customer comes brazen prior to Friday, in sequence to equivocate Mondays winding-up conference at the High Court.

Meanwhile, Pompey arch senior manager Peter Storrie has reliable he has already been in talks with an administratorand that he is rebuilt to take a estimable compensate cut.

Storrie is one of the highest-paid arch management team in the Premier League, with an annual income believed to be at slightest �1.2million.

He told Portsmouth News: I have already oral to the director and he wants to keep things settled, that equates to me staying on. I will work with him and I hold he wants me to assistance him sell the bar to the right person.

There will be cuts at all levels. Thats something for the director to do to have certain the bar keeps going. I will be receiving a big cut as well.

I"ve seen income total of �1.4million bandied around for me but my simple income is less than half of what has been reported.

The rest of it has been a reward since by (former owner) Sacha Gaydamak each year. Thats in approval of me keeping the bar going for him by offered players.

But I am rebuilt to cut my simple (pay) utterly substantially.

People with prediabetes not receiving competent precautions to equivocate diabetes

Researchers from the Division of Diabetes Translation of the Centers for Disease Control and Prevention, Emory University, and the National Institute of Diabetes and Digestive and Kidney Diseases carefully thought about either people with prediabetes are taking advantage of surety measures and what demographic factors competence change these behaviors. Survey interpretation from 1402 adults with prediabetes who participated in the 2005-2006 National Health and Nutrition Examination Survey (NHANES) was analyzed. Survey participants were interviewed and since a fasting plasma glucose exam (FPG) and an Oral Glucose Tolerance Test (OGTT).

All consult participants were asked either in the past twelve months, they had: (1) attempted to carry out or lose weight, (2) marked down the volume of fat or calories in their diet, and (3) increasing earthy wake up or exercise. They were additionally asked either they had been told by a alloy or alternative health veteran in the past twelve months to perform each of these 3 risk rebate behaviors. In addition, they were asked if they had been screened for diabetes or high red red red blood sugarine in the past 3 years. Demographic factors such as gender, age, race/ethnicity, family history, and preparation turn were additionally self-reported.

The researchers found that in 2005-2006, 29.6% of U.S. adults elderly ≥20 years had prediabetes. Only 7.3% of those with prediabetes reported that they had been told that they had a prediabetes condition. Less than half (47.7%) of adults with prediabetes reported a exam for diabetes or high red red red blood sugarine in the past 3 years.

Although adults with and but prediabetes were identical in competition and ethnicity, adults with prediabetes were some-more expected than those but prediabetes to be male, older, and have reduce tutorial attainment. They were additionally rather some-more expected to inform that an evident family part of had diabetes. Also, adults with prediabetes were some-more expected to have higher levels of well well known cardiovascular disease risk factors, together with higher meant weight, waist circumference, systolic red red red blood pressure, and triglycerides, as well as a higher superiority of hypertension.

Writing in the article, the group of investigators led by Linda Geiss of the Division of Diabetes Translation, Centers for Disease Control and Prevention, states, Reversing the flourishing diabetes complaint will need mixed levels of interventions, together with graduation of full of health lifestyles and increasing accessibility of evidence-based village impediment programs for people at high risk. More fit marker and recognition of prediabetes is a key initial step to implementing these changes.

Tiny molecules might discuss it big story about cardiovascular disease risk ScienceBlog.com



DURHAM, NC -- Tiny pieces of molecular "trash" found in present red red blood crop up to be great predictors of cardiovascular disease and black death, contend researchers at Duke University Medical Center.

The discovery, published online in the Apr issue of the biography Circulation Genetics, comes from the largest investigate of the kind for cardiovascular disease, and is the initial to brand specific metabolic profiles compared with coronary red blood vessel disease, heart attacks and genocide in in in in between patients who have undergone coronary catheterization.

The Duke investigate analyzed metabolites, the molecular waste left over after the physique breaks food down in to appetite sources and construction blocks of cells and tissues.

Scientists hold metabolites might be utilitarian in diagnosing disease, pronounced Svati Shah, M.D., M.H.S., a cardiologist in the Duke Heart Center, the Duke Center for Human Genetics and the lead writer of the study. But the little molecules are notoriously tough to identify, quantify and characterize. Shah has been investigate metabolic signatures in heart disease for multiform years and led progressing investigate display that metabolic profiles compared with early-onset coronary red blood vessel disease can be inherited.

Shah and William Kraus, M.D., highbrow of disinfectant at Duke and the comparison writer of the study, longed for to know if they could besiege and brand sold metabolites compared with coronary red blood vessel disease. They began their review with report in Duke"s CATHGEN biorepository that binds health annals and red red blood samples from scarcely 10,000 patients who had come to Duke over the past eight years for catheterization. Collaboration with Christopher B. Newgard, PhD., executive of Duke"s Sarah W. Stedman Center for Nutrition and Metabolism, authorised Shah, Kraus and others to fairly quantify and impersonate the metabolites.

Researchers comparison 174 patients who had experienced early-onset coronary red blood vessel disease (CAD) and compared them to 174 controls who had undergone catheterization but who were not found to have CAD. Using a row of 69 metabolites formerly identified as potentially concerned in the growth of CAD, they carefully thought about the metabolic profiles in both groups.

"We found dual sets, or clusters of metabolites that seemed to compute in in in in between the dual groups," says Shah.

Next, they tested the dual sets of metabolites to see if they could compute in in in in between patients of any age who had CAD and those who did not. Again, the dual sets of metabolites were means to distinguish in in in in between the dual groups.

In sequence to weigh the capability of the metabolites to envision risk of heart conflict or death, the researchers additionally combined an "event group" comprising 314 patients from all groups who suffered a heart conflict or genocide during a follow-up duration of roughly 3 years. They compared metabolic profiles in in in in between those who suffered a heart conflict or genocide with those who did not. Using mixed analytic and statistical methods, they found dual factors that were obviously compared with coronary red blood vessel disease and one cause that likely larger risk of heart conflict or genocide in in in in between patients with coronary red blood vessel disease.

"When we combined these biomarkers to normal clinical risk models, we found that they increasing the correctness of projected risk," says Shah.

While progressing studies have referred to that sure metabolites are compared with the participation and astringency of CAD, researchers have not been means to brand majority of the particular molecules inside of those profiles, says Shah, "which in the finish meant that these studies were not that clinically useful."

"Here, we privately comparison clusters of metabolites that we know are concerned in mixed pathways of lipid, protein and glucose metabolic rate -- pathways that are mostly disrupted in CAD -- and we showed that they are in truth compared with CAD and successive risk of cardiac events," says Kraus, "These metabolic profiles might be a approach from slight clinical use, but we feel they are a great initial step in that direction."

Colleagues from Duke who contributed to the investigate embody James Bain, David Crosslin, Michael Muehlbauer, Robert Stevens, Carol Haynes, Jennifer Dungan, Kristin Newby, Elizabeth Hauser, Geoffrey Ginsburg and Christopher Newgard, executive of the Sarah W. Stedman Nutrition & Metabolism Center.

&

http://www.dukemednews.org

Swiss Re sees $4-$7 billion word waste from upheaval

ZURICH Wed Mar 10, 2010 1:37am EST Stocks & &

ZURICH (Reuters) - Swiss Re (RUKN.VX) said on Wednesday the insurance sector stood to lose $4-$7 billion from the earthquake in Chile, a sum unlikely to bring the long hoped-for increase in reinsurance prices.

The world"s second-biggest reinsurer estimated its own losses from the Chile disaster, one of the most powerful earthquakes in a century, at around $500 million.

The company said it would also lose around $100 million from winter storm Xynthia which caused widespread damage in northern Spain and France at the end of February.

(Reporting by Jason Rhodes; Editing by Dan Lalor)

UPDATE 1-Euro section January traffic opening narrows exports up 5 pct

Thu Mar 18, 2010 8:26am EDT Related News Euro zone January trade deficit bigger than thoughtThu, Mar 18 2010

(Adds economist comments)

Currencies&&&&Bonds

BRUSSELS, March 18 (Reuters) - The euro zone"s non-adjustedtrade deficit narrowed year-on-year in January as exportsincreased five times faster than imports, signalling risingexternal demand but still muted domestic consumption.

The deficit of the 16-country area totalled 8.9 billioneuros ($12.2 billion) in January, down from 12.1 billion a yearearlier as exports rose 5 percent year-on-year and imports only1 percent, the European Union statistics office said.[ID:nBRLIEE60V]

The data "maintains hopes that the euro zone"s recovery willbe helped over the coming months by exports benefiting fromfirmer domestic demand in key overseas markets", said HowardArcher, economist at IHS Global Insight.

"Euro zone exporters will be helped by the marked retreat inthe euro ... although it is the strength of global growth overthe coming months that will be most important to them," he said.

"Meanwhile, the import data suggest that euro zone domesticdemand could be firming after disappointingly contractingmarginally in the fourth quarter of 2009," Archer said.

Economists polled by Reuters had expected a deficit of 4.0billion euros. December"s surplus was revised to 4.1 billioneuros from the 4.4 billion euros estimated previously.

More detailed or seasonally adjusted data was not yetavailable.

For all of 2009, the euro zone"s surpluses with its twobiggest trading partners -- Britain and the United States --narrowed to 49.5 billion and 34.7 billion euros respectively.

The single currency area"s trade deficit with China narrowedto 90.1 billion from 119.7 billion in 2008, with Russia to 31.9billion from 43.7 billion and with Japan to 14.4 billion from23.8 billion. (Reporting by Jan Strupczewski, editing by Dale Hudson)

Currencies Bonds

Virgin announces launch of 100MB superfast broadband

Britons will have access to ultrafast broadband speeds by the end of 2011 after cable giant Virgin Media today announced the launch of the UK"s first 100Mb service.

Virgin will roll out the new service nationwide at the end of 2010 and throughout next year, while it also said it was expanding its 200Mb pilot as part of the push to become a "broadband nation".

News of the launch comes as Virgin Media said it connected 28,600 households on a net basis - those joining the group, less those leaving - in the fourth quarter of 2009 as its superfast connections attracted new business.

"Broadband nation": Virgin Media plans to launch 100Mb broadband nationwide by the end of 2011 and is expanding its 200Mb pilot

The group, which is 4 per cent owned by Sir Richard Branson, now has a total of 4.77million customers.

Its operating cash flow - or underlying earnings - rose 15.3 per cent to 366million in the quarter, with the group putting the rise down to its high-speed offering. It said more than 55 per cent of its customers have 20Mb speeds and above, which is 45 per cent up on a year earlier.

The new 100Mb service will help the UK catch up with other markets Japan and Korea, which are rolling out 1Gb broadband.

More...Google faces EU probe into complaints over search rankings and advertsApple purges thousands of "sexy" Apps from online store to clean up brand

Virgin can offer superfast speeds that other ADSL providers struggle with thanks to its fibre optic cable network.

Neil Berkett, chief executive of Virgin Media, said: "The launch of Virgin Media"s 100Mb service will be a historic moment and will mean the UK will be comparable to other leading broadband nations."

Virgin Media claimed the service will allow web surfers to download a music album in just five seconds, an hour-long TV show in 31 seconds and a high definition movie within eight minutes.

Its 200Mb pilot, which began in Kent last May, is also set to be extended to Coventry.

Virgin Media offers three services - broadband, television and telephony.

The number of users taking all three services rose to 60.5 per cent in the fourth quarter, with 10.7 per cent also taking out a Virgin Mobile contract.

But the group has also cut its workforce by around 2,200 since the end of 2008 under a sweeping restructure.

The media giant aims to cut further jobs - to about 15 per cent of 2008 employee numbers - by 2012, with the bulk being axed by the end of this year.

Virgin Media is now listed in New York and London after making a secondary listing on the London Stock Exchange in January.

Shares rose 7 per cent today as its fourth quarter figures beat market expectations.