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Financial News

AIG Was Unprepared for Crisis, Had `No One in Charge,' Ex-Top Lawyer Says American International Group Inc. was unprepared for the financial crisis that forced the insurer to accept a $182.3 billion bailout from the U.S. government, the company’s former general counsel said.

Retail Sales Unexpectedly Rose in February as U.S. Consumers Braved Storms Americans braved blizzards and overcame job concerns to propel retail sales in February, pointing to a broadening in growth that will help sustain the expansion.

Most U.S. Stocks Fall on Drop in Consumer Confidence; Citigroup Retreats Most U.S. stocks fell, pulling the Standard & Poor’s 500 Index down from a 17-month high, as a drop in consumer confidence overshadowed an unexpected increase in retail sales.

Apple's Cook Gets $5 Million Bonus, Stock for Work During Jobs's Absence Apple Inc. awarded Chief Operating Officer Tim Cook a one-time bonus of $5 million and 75,000 restricted shares for filling in while Chief Executive Officer Steve Jobs was on medical leave.

Lehman Bankruptcy Report Points Way to Plaintiffs, Not Prison, Lawyers Say A 2,200-page bankruptcy report a year in the making may point the way for plaintiffs looking to sue former Lehman Brothers Holdings Inc. officials, lawyers said, rather than grand juries probing possible crimes.

WaMu's $5.95 Billion JPMorgan Settlement Less Than Shareholders Estimated Washington Mutual Inc. will collect at least $5.95 billion, less than the $20 billion estimated by shareholders, in a proposed settlement of the bankrupt company’s yearlong battle with federal regulators and JPMorgan Chase & Co.

Geithner Says U.S. to Recover Faster, Stronger Than Other Major Economies Treasury Secretary Timothy F. Geithner, offering his most optimistic outlook on the economic recovery to date, predicted the U.S. will rebound from the recession faster and more vigorously than other advanced economies.

Toyota Rebuts Lawmaker Towns's Comment About Withholding Rollover Records Toyota Motor Corp. rebutted a comment by the chairman of a U.S. House investigating committee that it “deliberately withheld” records it was legally required to produce in a lawsuit by a former in-house lawyer.

Lincoln National Doubles Salary of Chief Glass After Taking Government Aid Lincoln National Corp. more than doubled the salary of Chief Executive Officer Dennis R. Glass, whose successful bid for U.S. capital got the company almost $1 billion in bailout cash in July.

Waste Management `Undercover Boss' Found Customers Along With Wake-Up Call Waste Management Inc.’s president is learning that reality-television shows may be one man’s trash TV and another’s public-relations treasure.

General News

Pelosi Signals Aim to Pass Health-Overhaul Bill Before Obama Trip to Asia U.S. House Speaker Nancy Pelosi signaled her determination to seek passage next week of legislation overhauling the health-care system after President Barack Obama put off the start of his Asia trip until March 21.

Clinton Calls Netanyahu to Condemn Israel's Plan for Jerusalem Settlements U.S. Secretary of State Hillary Clinton called Israeli Prime Minister Benjamin Netanyahu to lodge “strong objections” to Israel’s announcement of a Jewish housing project in east Jerusalem during Vice President Joe Biden’s visit to Israel this week.



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