The U.S. Treasury is selling $6 billion worth of its bailout-related holdings in insurance giant American International Group ( AIG). AIG is expected to purchase up to $3 billion worth of the stock being sold by the Treasury, which will still hold nearly $42 billion sunk into the company following its 2008 bailout. The Treasury Department still owns 77% of AIG's common shares.
McDonald's ( MCD) is expected Thursday to report February sales. Lynne Collier, Sterne Agee analyst, expects the fast-food giant to post a February same-store sales increase of 8.7%.
Dan Akerson, CEO of General Motors ( GM), said it may be two years before its European division is back in the black. GM has lost money in Europe for the last 12 years, according to Reuters. "I think it'll be a good year or two before we can achieve profitability in Europe again," Akerson said.
Apple ( AAPL) and five of the biggest U.S. publishers have been warned by the Justice Department it plans to sue them for allegedly colluding to raise the price of electronic books, The Wall Street Journal reported, citing people familiar with the matter. Several of the parties have held talks to settle the antitrust case and head off a court battle, the people told the newspaper. A successful settlement could potentially lead to cheaper e-books for consumers.