Callum McCarthy to head FSA
London: Former bank and energy watchdog chief Callum McCarthy is set to replace Howard Davies as the head of London's most powerful financial watchdog, the Financial Services Authority, the Sunday Telegraph reported. An announcement is expected this week.
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American Airlines pilots okay $660m wage cuts
New York: The pilots' union at American Airlines on Sunday said it presented the cash-starved carrier with a concession deal worth $660m a year, which will achieve the cost-savings sought by the management. Analysts believe time is of the essence for AMR, American's parent, because of the decline in air travel since the Iraq war began. The world's largest carrier might file for ankruptcy as soon as next week, according to banking sources.
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