IN BRIEF

NEW YORK

Insurer AIG will get another loan from Fed

Concerns about the health of American International Group Inc. were renewed Thursday, a day after the insurance giant said it would receive an additional $37.8 billion loan from the Federal Reserve.

AIG is apparently facing a liquidity crunch greater than was anticipated a month ago when the U.S. government first bailed out the company.

The new loan will help AIG cover requests from clients to redeem borrowed securities. In the past, these securities were previously loaned by AIG's insurance company subsidiaries to third parties in return for cash. The cash would then be reinvested in an attempt to increase returns.

NEW YORK

Cartel plans meeting to discuss fiscal crisis

OPEC said Thursday it will hold an extraordinary meeting Nov. 18 to discuss how the widening global financial crisis is affecting oil prices, a move that could lead to a coordinated production cut in a bid to halt crude's steep losses.

In a statement on its Web site, the Organization of Petroleum Exporting Countries said it's concerned about how the crisis is hampering global economies and world oil markets. The meeting will be held in Vienna, Austria.

NEW YORK

Clothes shops in malls post rough September

Dismal September sales results from mall-based apparel chains released Thursday offered more fresh evidence that American consumers, spooked by the financial meltdown, shut their wallets tight last month.

TJX Cos., hurt by a strong dollar, reported on Thursday a 1 percent drop in same-store sales, below the 0.5 percent gain expected by analysts polled by Thomson Reuters. Excluding the stronger dollar, same-store sales rose 1 percent.

Gap, dragged down by a deep sales slump at its Old Navy division, reported an 11 percent same-store sales drop, deeper than the 8.3 percent decline expected.

Chico's same-store sales fell 15.6 percent, worse than the 13 percent decline projected. Same-store sales at teen retailer Abercrombie & Fitch, known for its pricey high-fashion denim, slid 14 percent.

Treasury prices decline as stocks keep falling

Treasury prices fell Thursday as stocks continued to plunge.

The 10-year note fell 0.88 points to 101.94 and yielded 3.76 percent, up from 3.65 percent.