Apple Stock Falls After Jobs Announcement

Apple’s stock is getting hit hard in after-hours trading following the announcement that CEO Steve Jobs has resigned.

Jobs, who will become chairman, is handing over the day-to-day operations to former COO Tim Cook, who has deftly operated the company in Jobs’s absence before.

Still, investors are clearly uneasy with the top-level change, even though it has been a possibility for some time.

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AIG cuts government loan by $25 billion as it takes steps to spin off 2 insu...

AIG reduces government borrowings by $25 billion NEW YORK ? American International Group says it has slashed the amount of money it owes the government by $25 billion after moving two subsidiaries into special holding units ahead of their planned spinoffs or sale. The government is receiving $25 billion in preferred shares in the two life insurance [..] Read the original article: here.