| Citigroup to return $7 billion to auction-rate investors
(Reuters)
 Reuters - Citigroup Inc agreed to buy back
more than $7 billion of illiquid auction-rate securities and
pay a $100 million fine to settle charges it fraudulently
misled investors about the debt's risk.
| Jobs, store sales soft but homes data brighter
(Reuters)
 Reuters - Claims for jobless aid rose last
week and big retailers had disappointing sales in July, reports
showed on Thursday, but a gauge of future home sales rose in a
hopeful sign for the battered housing sector.
| Market extends losses on oil and financials
(Reuters)
 Reuters - Stocks extended losses on Thursday, as
oil prices added to gains and financials fell further after
Moody's Investors' Service said it may downgrade American
Express' credit rating.
| Ex-Refco president sentenced to 10 years in prison
(Reuters)
Reuters - Tone Grant, former president of Refco,
once the largest independent commodities broker, was sentenced
to 10 years in prison for his role in a $2.4 billion fraud that
involved hiding huge trading losses from clients. | AIG sees up to $8.5 billion in cash losses from CDS
(Reuters)
 Reuters - American International Group Inc
said on Thursday potential cash losses on its portfolio
of credit default swaps tied to risky mortgage debt could be as
high as $8.5 billion, much more than previously disclosed.
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