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AIG says rating cuts to raise costs 9 May 08, 10:48 ET Reuters - American International Group said on Friday two rating agency downgrades will likely increase funding costs for some of its businesses, and has required it to post $1.6 billion more in collateral. more Citigroup to shed $500B in assets 9 May 08, 10:20 ET AP - Citigroup Inc. said Friday it aims to shed about $500 billion in assets and grow revenue by 9 percent over the next few years, as it tries to rebound from massive losses tied to deterioration in the mortgage and credit markets. more Icahn prepared to buy Circuit City if Blockbuster can't 9 May 08, 09:57 ET AP - Consumer electronics retailer Circuit City Stores said Friday that it will allow Blockbuster to review its books in connection with the video-rental chain's bid to buy the company. more U.S. crude futures jump more than $2, above $126 9 May 08, 09:36 ET Reuters - U.S. crude futures jumped more than $2 to a record high above $126 on Friday, fueled by fund buying and surging distillate prices on both sides of the Atlantic, according to traders. more Circuit City to let Blockbuster conduct diligence 9 May 08, 09:25 ET Reuters - Circuit City Stores Inc said on Friday that it will allow Blockbuster Inc and the movie-rental company's largest shareholder, Carl Icahn, to conduct due diligence in connection with Blockbuster's proposed acquisition of Circuit City. more March trade deficit drops by bigger-than-expected amount 9 May 08, 09:24 ET AP - The U.S. trade deficit narrowed sharply in March as demand for imports fell by the largest amount since the last recession was ending. more Citigroup targeting 9 percent revenue growth 9 May 08, 09:02 ET AP - Citigroup Inc. said Friday it is aiming for 9 percent revenue growth as it looks to rebound from recent struggles tied to deterioration in the mortgage and credit markets. more March trade gap narrows more than expected 9 May 08, 08:48 ET Reuters - The trade deficit narrowed more than expected in March on a record plunge in the value of imports, even as average oil prices surged to a new record, a Commerce Department report on Friday showed. more Sanofi hit by ge 9 May 08, 08:41 ET Reuters - French drugmaker Sanofi-Aventis , which briefly encountered generic competition to its second-biggest product Plavix in the United States in 2006 and 2007, now faces a similar threat in Europe. more Guinness brewing ops being consoldiated in Irleand 9 May 08, 08:29 ET AP - Diageo PLC said Friday it will close two Irish breweries, reduce operations at a third facility and cut its staff in the country by more than half as it consolidates Guinness brewing operations in Ireland. more

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