SEC to probe Charter Comm accounting
Washington: Charter Communications said on Tuesday the US Securities & Exchange Commission (SEC) had opened a formal investigation into the No 3 US cable operator's accounting. Charter also said that it had accepted an offer from chairman and Microsoft co-founder Paul Allen to lend it $300m.
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New fraud charges against ex-WorldCom CFO
Washington: The US government filed new bank fraud charges on Wednesday against former WorldCom chief financial officer Scott Sullivan, accusing him of lying on financial statements to secure $4.5 billion in credit for the company.
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Philip Morris makes tobacco settlement payments
New York: Philip Morris USA met its deadline for making its payment under the 1998 settlement between states and tobacco companies.
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US cuts off oil pipeline from Iraq to Syria
Washington: US military forces have shut off a pipeline that carried "illegal oil" flowing from Iraq to Syria, US Defence Secretary Donald Rumsfeld said.
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