Shares in insurance giant American International Group (AIG) fell another 63% on Wall Street today amid concerns of a deepening cash crisis at the firm.

Manchester United sponsor American International Group (AIG) is today preparing to launch a major restructuring effort to save its battered finances.

RONALD FERGUSON, former chief executive of Berkshire Hathaway’s General Re unit, refused to answer questions from federal prosecutors and regulators on reinsurance accounting, prompting the company to sever remaining ties.