Two Enron execs arrested for $111m fraud
Washington: Federal authorities arrested and charged two Enron executives on Wednesday with fraud for allegedly creating $111m in bogus earnings from a ballyhooed internet video-on-demand venture that was a failure from its inception
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Philips to revamp chip unit, slash 1,600 jobs
New York: Philips Electronics said on Thursday it would restructure its key semiconductor unit, cutting 1,600 jobs in a move to return the unit to profitability by the fourth quarter.
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McDonald's sales take a beating again
New York: McDonald's reported its 12th consecutive monthly decline in comparable sales, pressured by a US hamburger price war, poor winter weather and a weak global economy.
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Boeing's back on runway for long-haul jetliners
New York: Boeing, the world's largest commercial aircraft maker, said that it would resume development of a long-haul jetliner it mothballed when air travel slumped after the September 11 attacks.
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Rebuilding Iraq to cost US taxpayers $20bn a year
Washington: The reconstruction of Iraq may cost US taxpayers $20bn a year for several years and President Bush should spell out costs to the public, top US foreign policy experts said on Wednesday.
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