World Business Briefs At 10: US industrial output; AIG; Lehman; H-P Tuesday, Sep 16 - Round-up of global economies and business . . ECONOMY ------- US INDUSTRIAL OUTPUT plunged 1.1% in August, the biggest drop since Hurricane Katrina three years ago, the Federal Reserve reported Monday. Industrial production has now fallen 1.5% in the past year and 2% since its peak in January. (MarketWatch) . . COMPANIES --------- AMERICAN INTERNATIONAL GROUP INC's credit rating was downgraded three notches by Standard & Poor's Monday. Moody's Investors Service also cut AIG's debt rating. Fitch downgraded AIG's rating to A. (The Wall Street Journal) +++ LEHMAN BROTHERS HOLDINGS INC was negotiating a last-minute plan late Monday to sell large portions of itself to Barclays PLC, the UK bank. Barclays Americas Chairman Archibald Cox Jr was leading the talks, and an agreement is hoped to be reached by today. (The Wall Street Journal) +++ HEWLETT-PACKARD CO. said it will cut 24,600 jobs, half of that in the US, as part of its plan to integrate new acquisition Electronic Data Systems Corp. The staff cuts, spread across both firms, are intended to "streamline the combined company's services" businesses, H-P said. (The Wall Street Journal) End
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