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American International Group Inc , under fire from investors to improve its performance, reported a lower-than-expected profit for the third straight quarter as poor returns from hedge funds hurt its investment income. AIG has been scaling back investments in hedge funds, which have borne the brunt of excessive market volatility in the past year. Big-name hedge funds favored by pension funds and the ultra-wealthy for their track record of stellar returns took a battering in the first quarter of 2016, with some posting their worst ever start to a year on record.
By Lisa Richwine LOS ANGELES (Reuters) - Media mogul Sumner Redstone can be deposed at his home in a short videotaped session ahead of a trial to resolve his ex-girlfriend's lawsuit over his mental competence, a California judge ruled on Monday. The recording of Redstone, the controlling shareholder of media companies Viacom Inc and CBS Corp , will not be seen by the public, Los Angeles Superior Court Judge David Cowan said. Lawyers for Redstone's former companion, Manuela Herzer, had requested that the 92-year-old billionaire be called as a witness in the trial, which starts on Friday.