Malaysia Airlines unveils restructuring plans
Kaula Lampur: In a radical shift in restructuring plans, Malaysia's national airline will transfer its planes and liabilities to a new government entity to create what analysts said would be Asia's first debt-free airline.
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Former Cisco executive pleads guilty to fraud
Los Angeles: A former vice president of networking giant Cisco has pleaded guilty to charges of fraud and insider trading.
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Bush signs Bill to check corporate fraud
Washington: Hoping to restore investor faith in US companies after a wave of boardroom scandals, US President George W Bush on Tuesday signed into law a Bill that increases penalties for accounting fraud and provides new grounds for prosecuting corporate corruption.
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Merrill says Enron dealings were appropriate
New York: Merrill Lynch & Co., which will be questioned by Congress over its role in the collapse of Enron, said on Tuesday its "limited dealings" with the bankrupt energy trader were appropriate.
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Pegasus reports narrower Q2 net loss
Pegasus Solutions, which makes transaction processing technology, posted a narrower second-quarter net loss on Tuesday, citing cost savings.
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WorldCom, Global Crossing, Qwest chiefs to testify before US House
New York: Leaders of three big, troubled telecommunications companies are being called before the Congress to explain how well they can maintain essential operations if their financial conditions deteriorate further.
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KLM says it might sue wildcat strikers
KLM Royal Dutch Airlines said on Tuesday it might sue individual technicians who went on strike over the weekend to recoup damages and prevent further illegal strikes.
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ImClone chief faces 10-year sentence for insider trading
Federal prosecutors are demanding former ImClone Systems Chief Executive Samuel Waksal serve between seven and 10 years in prison on insider-trading charges, the Wall Street Journal reported on Tuesday.
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Qwest execs made millions in insider trading: NYT
New York: Executives at Qwest Communications International made about $500 million selling company stock from 1999 to 2001, as the company was releasing results it now says were exaggerated and based on improper accounting.
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