The United States is preparing to install a US chairman on a planned management team for the Iraqi oil industry, providing further ammunition to critics who have questioned the Bush administration’s agenda in the Middle East.
Union leaders at American Airlines are furious after learning of lucrative executive pay deals that were being struck as workers agreed to ,8-billion in pay cuts and concessions.
Whiling away the afternoon on the laptop nestled into a comfy sofa in the corner of a coffee shop has a certain appeal. Settling into a yellow plastic chair in McDonald’s surrounded by screaming kids to write your great novel doesn’t have quite the same magic.
Investors in the United States will breathe a sigh of relief as 2002 draws to a close. But can the markets clamber out from under the corporate scandals and collapses? Will next year be any better? In the past year it was difficult to predict when and where the next scandal would emerge.
The IMF is to draw up urgent proposals for a bankruptcy system that will provide crisis-hit countries such as Argentina with the protection. The IMF has been given six months to come up with a blueprint that will provide a mechanism for coping with debt defaults.
As the Burundian peace summit entered its third day in Tanzania this week, one of the warring rebel factions claimed to have captured 72 government troops in two months of fighting.
The United States Federal Reserve Board (the Fed) on Tuesday signalled that it was standing ready to reduce borrowing costs to counteract the threat of a return to recession in the world’s largest economy.
The United States Justice Department has opened an investigation into accounting practices at AOL Time Warner, delivering another blow to the world’s largest media company.
Dick Cheney, the United States Vice-President, was on Wednesday sued for alleged accounting fraud while he was a director of the oil firm Halliburton, further undermining the Bush administration’s attempt to take a firm grip on the scandals shaking corporate America.
Wall Street became further mired in litigation on Wednesday when a class action lawsuit was filed against the drugs company Merck, claiming it had overstated revenues by ,6-billion over three years.