The managing director of the International Monetary Fund, Rodrigo De Rato, said he will step down in October for “personal reasons,” leaving the Washington-based post two years before his term ends. De Rato, 58, has lead the agency since 2004. He is a former Spanish economy minister. He helped to oversee more than $50 billion of debt reduction for poor nations during his tenure.

AMERICAN AIRLINES

The nation’s largest air carrier is giving storm-affected travelers a fee break when it comes to rescheduling. American (AMR) is allowing passengers to change their travel plans once within a certain time frame without the usual charges. American, in its summer storms travel policy posted Thursday on its Web site, cited recent bad weather in the eastern half of the United States.

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