SEC review of nominees delayed
Washington: With US markets adrift on a tide of scandal and mistrust, senate review of nominees to the market-policing SEC is being delayed by a problem with one nominee, sources said.
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Mercks unit Medco Health sued in June
New York: Medco Health Solutions, a unit of Merck and Company set to be spun-off in an initial public offering, said in a SEC filing on Friday that it was sued in June for improperly classifying a drug.
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US panel asks troubled firms to hand over records
Washington: A congressional panel on Monday called on the boards of 13 troubled US companies to hand over records of their management oversight and expanded an earlier request seeking SEC records.
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Bush wants to double jail term for offenders
Washington: US President George W Bush on Tuesday proposed doubling the maximum jail term for mail and wire fraud charges frequently used in cases of corporate fraud to 10 years as part of a crackdown on accounting scandals that have undermine market confidence.
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US may lift tariffs on more foreign steel soon
Washington: A senior Bush administration official said the United States could exclude more foreign steel from hefty US tariffs before a European Union decision later this month on whether to retaliate.
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Fiat gets fresh sops from govt, not to sell auto arm
Rome: Industrial giant Fiat has assured the Italian government that it does not plan to sell its loss-making car business, industry minister Antonio Marzano said on Monday.
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In love, but out of money: Japan's lovers ditch rings
Tokyo: Cash-strapped Japanese couples are buying fewer engagement rings and instead wearing their affections on their sleeves in the form of brand-name watches and other love tokens, industry researchers said on Tuesday.
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Iraq to recognise Indian trade firms as export houses
Baghdad: In a move expected to boost supplies of Indian products to Iraq, Baghdad has agreed to permit Indian trading companies to be registered as export houses.
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Oscar bond issue gets high credit rating
Los Angeles: Oscar is golden and it turns out to be investment-grade too. The Academy of Motion Picture Arts and Sciences, which hands out the Oscars, Hollywoods highest honour, received a Wall Street tribute of another kind, a high-grade credit rating for its first-ever bond issue.
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Losing touch: Consultants face a bleak season ahead
New York: The consulting firm Accenture recently kicked off a bold advertising campaign, complete with pictures of brown coffee cups that proclaim: I am your idea. I wont stay hot forever."
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Have US markets hit the bottom?
New York: A disconnect has emerged between the performance of the US economy and its stock market. True, recent data have been mixed housing has held up well, jobless claims are trending down, factory orders are up, inflation is benign...
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BOC HK to tighten risk controls
Hong Kong: Bank of China Hong Kong said it is tightening risk controls in order to cope with its high level of bad debts, but warned potential investors that it may take time for staff to get used to the new procedures.
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