Salomon fined $5 m, Grubman charged
New York: Securities regulators on Monday fined Salomon Smith Barney $5 million for misleading stock research and filed a separate complaint against its former star telecom analyst Jack Grubman.
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IMF slams rich countries on trade
Washington: Trade barriers, mostly erected by rich countries, are eating up $650 billion that could otherwise be used to improve livelihoods around the world each year and limiting poor countries sorely needed access to world markets, the IMF and World Bank said on Monday.
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China overtakes US as No. 1 FDI hotspot
Beijing: China with its robust economy, has overtaken the United States for the first time in becoming the hottest destination for foreign direct investment (FDI). According to the results published by A T Kearney Inc, China scored 1.99 in a scale from zero to three, while the US ranked second with 1.89, China Daily reported today.
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Record junk bond defaults
New York: Moodys Investors Service said on Monday junk bond defaults set a record in 2002 and that the weak US economy will keep the default rate much higher this year than the credit rating agency had forecast. 
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Slim in US, Big Mac bulks up in China
Beijing: Lao Zhang's plump five-year-old daughter jumped up and down squealing for french fries when the family drove past a McDonald's on a trip to Beijing, where the Golden Arches are still a wondrous sight in the land of a billion consumers.
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Treasury yields at 44-yr low
Washington: US Treasuries surged on Monday as war jitters and another stock market decline drove some yields to their lowest levels since Eisenhower was President.
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German financial supervisor monitoring insurers
Frankfurt: Germany's financial supervisor confirmed on Tuesday it was closely monitoring the situation of insurers following sharp stockmarket falls but declined to comment on specific action it may have taken.
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Microsoft, H-P in $50-mn alliance to push .NET
Seatle: Microsoft and Hewlett Packard have joined hands to deploy the Microsoft's .NET sevice to businesses, with an investment of about $50 million.
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Xerox Corp of US under scrutiny again
New York: Xerox Corp of US is being probed by the US attorney's office once again after five months of the earlier probe for glitches in its accounting practices. 
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Fed expected to keep the US rates steady
New York: Federal Reserve policy makers are expected to keep the US interest rates unchanged in view of the economy finely balanced between exuberant consumers and cautious corporations. 
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