IMF upbraids corporate America
New York: International Monetary Fund, accused by critics of forcing US-style capitalist remedies on the rest of the world, said on Wednesday that the US itself was having to re-learn some basic lessons about capitalism.
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Corporate expatriates face tough times
New York: With American business already under a cloud of scandal and patriotic fervour still running high after 9-11, a key House of Representatives panel voted on Tuesday to deny lucrative government contracts to US companies that move their headquarters abroad to duck taxes.
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Counterfeit drug cases on the rise in US
Washington: US regulators have investigated an increasing number of cases of fake medicines as counterfeiters become more sophisticated and more Americans seek lower-cost drugs, an official said.
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Michelangelo drawing found in New York maid's room
New York: A Michelangelo drawing that may be worth $12 million was unearthed among sketches of Renaissance lighting fixtures in what used to be a New York maid's room, museum officials said.
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Hackers thrive in Israel, Hong Kong
San Francisco: Which part of the world has the dubious distinction of being the most active hotbed of computer hacking? Among the most highly wired economies, more cyber attacks originate from Israel and Hong Kong on a  per-Internet-user basis than anywhere else, while Kuwait and Iran top the list of the category of countries with fewer internet users, according to a study.
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WorldCom to decide on reorganisation in three weeks
New York: WorldCom Inc, the US long-distance telephone and data services company embroiled in a $3.85-billion accounting scandal, said on Tuesday it expects to decide within three weeks whether to pursue bankruptcy or some other financial reorganisation.
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WorldCom executives put onus on auditor
New York: WorldCom executives clashed with former auditors over responsibility for nearly $4 billion in accounting improprieties that rocked US markets, and the companys former CEO and finance chief refused to testify to a House panel investigating the debacle.
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Nokia to sell broadband equipment to Sonera
Paris: Finnish telecoms equipment maker Nokia said on Wednesday it would sell equipment to Sonera that will allow the country's largest telecoms operator to offer new high-speed broadband services.
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VoiceStream, AT&T Wireless in merger talks: Report
New York: VoiceStream Wireless, controlled by Deutsche Telekom AG, is in talks to merge with AT&T Wireless Services, a move that would create the second largest cellular phone company in the US, according to a Wall Street Journal report.
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BoC HK battles bad debt, seeks lower risk loans
Hong Kong: Bank of China Hong Kong is increasingly focusing on safer but low-yielding mortgages and syndicated lending as it tries to whittle away its huge pile of problem loans.
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