David Teather

‘I’ve never felt this unsafe’

For the anxious-looking women taking a cigarette break this week on the corner of 53rd Street and Lexington Avenue, there was only one topic of conversation. Unlike former terror threats, the warnings from the United States Department of Homeland Security last Sunday were remarkably specific and the Citigroup building we were in front of was one of five potential targets named in the financial sector.

Lay lays his Enron ghosts

Former Enron CEO Kenneth Lay has spoken out for the first time since the company's collapse and placed the blame for the firm's failure squarely on the shoulders of finance chief Andrew Fastow. In a lengthy interview with the New York Times, Lay protested his innocence and spoke of his vilification in the media and the dramatic slump in his personal finances.

AOL buy renews faith in online ads

America Online (AOL) on Thursday announced a -million deal to acquire online marketing firm Advertising.com, a resounding vote of confidence in the internet advertising market that many had until recently written off for good. The acquisition is the first significant one made by AOL since the ill-fated takeover of Time Warner in 2000.

Cheney ‘cronyism’ row deepens

Fresh concern has been raised that United States Vice-President Dick Cheney may have played a role in the decision to award his former company Halliburton a -billion contract for work in post-war Iraq. According to a congressional investigation, Cheney's top aide, Lewis Libby, was involved in high-level talks in October 2002, which led to the firm securing the contract.

The dotcom investment banker who fell to earth

Frank Quattrone, one of the highest flying investment bankers on Wall Street during the dotcom boom, came crashing to earth on Monday when he was found guilty of obstruction of justice.

On a path to ‘irrelevance’

Howell Raines, the former editor of The New York Times, whose career was brought to an abrupt end by the actions of the plagiarist reporter Jayson Blair, gave one eviscerating interview shortly after he was deposed. Then there was silence. Raines's devastating critique of The New York Times has thrown up disturbing questions about the future of the 'world's greatest newspaper'.

EU to fine Microsoft a record 500m euros

Last-minute efforts to reach a settlement in Microsoft's epic anti-trust battle with the European Union (EU) have broken down. As a result, the EU competition commissioner, Marion Monti, is expected to deliver a serious legal blow to Bill Gates' software colossus in the next few days. The EU is expected to order Microsoft to undergo a series of anti-monopoly measures.

Pentagon launches Halliburton probe

The Pentagon has launched a criminal investigation into possible fraud at Halliburton, the oil services firm formerly run by the United States Vice-President, Dick Cheney. The inquiry centres on allegations of overcharging for importing fuel from Kuwait into Iraq by Halliburton subsidiary Kellogg Brown & Root (KBR).

Oil to Iraq (and to the US)

Officials are likely to recommend the creation of a state-run company to own and manage the Iraqi oil industry, shutting out foreign investment and countering, in part, allegations that the United States-led invasion of the country was merely an oil grab.

US job figures drive dollar to new low

The United States economy added 57 000 jobs during November but that figure was far fewer than expected, adding to fears that the upturn is failing to translate into significant employment growth. The jobless rate in the US fell from 6% to 5,9%, the lowest it has been since March. November was the fourth consecutive month of employment gains.

Digital revolution threatens video

Viacom is reportedly set to offload listed video-rental chain Blockbuster as the United States video market takes a knock. The media group has been looking for a way out of Blockbuster. The chain faces the threat of obsolescence as new technology such as video-on-demand becomes more widely used and the retail price of DVDs continues to fall.

Iraq war windfall for US companies

Halliburton, the oil services company formerly run by United States Vice-President Dick Cheney, this week reported soaring revenues from its contracts to help rebuild Iraq. The company said sales in the third quarter were 39% higher, at ,1-billion.

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