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A Tough Bonus Season Looms for Wall Street and New York

The fiscal downturn has hit Wall Street executives where it hurts most --their wallets -- and locales dependent upon their income rank as collateral damage.

U.S. to Sell $6 Billion in AIG Stock

The Treasury Department said on Wednesday it will sell $6 billion worth of American International Group stock and struck another deal for the insurer to pay down $8.5 billion more in obligations, taking a major step forward in an election year to unwind the unpopular crisis-era bailout.

China Will Maintain Curbs on Housing Despite Relaxing Rules in Cities

Attempts by Chinese city governments to introduce property market boosts will be stamped out as the country's central authorities are determined to maintain curbs on housing.