Bush signs law on terrorism insurance
Washington: President Bush on Tuesday signed legislation providing up to $100 billion in federal backing for terrorism insurance policies, saying the measure would create jobs, despite scepticism from economists.
“Today we’re taking action to strengthen America’s economy, to build confidence with America’s investors and to create jobs for America’s workers,” Mr Bush said at a White House signing ceremony.
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Wall Street firms facing fines up to $500 million
New York: Wall Street firms will face fines of up to $500 million to resolve analyst conflict-of-interest probes, sources familiar with the matter told Reuters.

Representatives from the Securities and Exchange Commission, market regulatory organizations and a coalition of state securities regulators have been meeting with lawyers for Wall Street's top banks since Friday to inform them of the fines they face to settle the investigations.
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Former Enron employee pleads guilty
Houston: A former Enron Corp. executive pleaded guilty on Tuesday to filing false tax returns that omitted cash payments he received while working under now-indicted former chief financial officer Andrew Fastow.

Larry Lawyer admitted not reporting $79,000 he was paid over four years for work on a 1997 deal in which Enron sold its interest in California wind farms to a partnership called RADR. That deal figures prominently in the indictment against Fastow.
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US economy grew 4% in Q3
Washington: The US economy grew more briskly than first thought in the third quarter with robust car sales helping to more than triple the weak second-quarter pace while after-tax corporate profits also improved, the government said on Tuesday.

US gross domestic product, a measure of all output within the country's borders, rose at a revised 4.0 per cent annual rate in the July-September period after an anaemic 1.3 per cent gain in the preceding quarter, the Commerce Department said.
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