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FINANCE
AIG names possible heirs to CEO
American International Group named Martin Sullivan and Edmund Tse co-COOs, making them the most likely successors to CEO Maurice Greenberg, 76. Investors have long worried about who'll replace Greenberg, who has run the insurer almost single-handedly for 35 years. AIG has been criticized for little openness in its management.
U.S. banks curb corporate loans
Citigroup, J.P. Morgan Chase, BofA and others lent companies $1.02 tril in Q1, down 7.4% from '01, Bloomberg reported, citing Fed data. Loans slid 6% in Q4. Banks have been cutting corporate loans more than they have in at least 30 years, tightening standards and refusing to finance ...