OCT
9
2008

Court hearings postponed as financial institutions extend litigation freeze

Citigroup Inc., Wachovia Corp. and Wells Fargo & Co. announced that they had extended an agreement to freeze litigation activity through 8 AM Friday.

OCT
8
2008

FCC investigating TV networks, military analysts

The Federal Communications Commission on Tuesday said it is investigating whether five television networks and 19 former military officers violated government disclosure rules in providing on-air analysis of the war in Iraq and other issues.

OCT
8
2008

Pfizer sued, accused of fixing Neurontin drug studies

Pfizer, the world’s biggest drug maker, has been sued for fixing studies focusing on their epilepsy drug Neurontin.

OCT
8
2008

Workplace retirement plans suffer $2 trillion in losses

Americans have lost $2 trillion in their workplace retirement plans in the past 15 months, threatening the security of millions, according to government data.

OCT
8
2008

Non-profit raided in voter fraud probe

The Las Vegas headquarters of the nation’s largest grassroots community organization for low-income people was raided today by Nevada state authorities as part of a voter-fraud probe.

OCT
8
2008

Carmaker Volvo cuts 3,300 jobs

Swedish carmaker Volvo said Wednesday it was cutting 3,300 jobs, about 12 percent of its workforce.

OCT
7
2008

UN calls for review on biofuel subsidies

A U.N. agency on Tuesday called for an urgent review of agriculture and biofuel subsidies and trade barriers, saying their removal would increase opportunities for developing countries to take advantage of rising biofuel demand.

OCT
7
2008

Germany coalition to amend constitution allowing military to aid police in emergencies

Officials from Germany´s ruling coalition announced Monday that they would draft an amendment to the German constitution to allow the military to aid local police forces during emergencies.

OCT
7
2008

Spain trial scheduled for Basque leaders charged for meeting with banned party

Officials at the Superior Court of Justice of the Basque Country announced Monday that three of the region´s political leaders, including its president, will stand trial for meeting publicly with members of the Batasuna party to negotiate a ceasefire with the illegal Basque separatist group ETA.

OCT
7
2008

IMF calls for coordinated action to address credit crisis

The International Monetary Fund on Tuesday called for a "collective commitment" by finance officials around the world to combat the ongoing credit crisis.

OCT
7
2008

Alliance & Leicester fined $12 million over PPI sales

Alliance & Leicester Plc, the U.K. lender being taken over by Banco Santander SA, will pay a record 7 million-pound ($12.2 million) fine for improperly selling payment-protection insurance.

OCT
7
2008

AtheroGenics seeks Chapter 11 bankruptcy, citing debt

AtheroGenics Inc., the maker of a failed heart drug whose lenders filed an involuntary bankruptcy petition against it last month, filed for Chapter 11 bankruptcy as a result of its “substantial debt burden,” the company said.

OCT
7
2008

Fed to provide as much as $900B in loans to banks

The Federal Reserve will provide as much as $900 billion in cash loans to squeezed banks in an urgent effort Monday to break through a dangerous credit clog that threatens the economy and has unhinged financial markets around the globe.

OCT
7
2008

US weapons deal "poisoned" military ties, China says

China´s foreign ministry on Tuesday said a US arms deal for Taiwan had ´poisoned´ military ties between Washington and Beijing, but it did not confirm US reports that China had cancelled some bilateral meetings.

OCT
7
2008

Judge: California must pay for prison health care

A federal judge has scolded California officials for failing to provide the billions of dollars a court-appointed receiver says is needed to upgrade the state´s prison health care system.

OCT
7
2008

Wachovia sued for $140 million by bankrupt tax firm

Wachovia Corp., the bank at the center of a bidding war by Citigroup Inc. and Wells Fargo & Co., was sued for $140 million by bankrupt tax-deferral company 1031 Tax Group LLC over claims it ignored fraud that sunk the firm.

OCT
6
2008

Dish loses appeal bid in TiVo case

In the latest round of bad news for Charlie Ergen, the U.S. Supreme Court Monday rejected EchoStar Communications’ appeal of a $74 million jury verdict that TiVo won against it for patent violations relating to DVRs.

OCT
6
2008

German Govt rescues Hypo Real Estate in a euro 50 bn package

The German Government along with banks and insurance companies has agreed on a new 50 billion Euro bailout plan for the troubled commercial property lender, Hypo Real Estate.

OCT
6
2008

Fed to boost auctions, pay interest on reserves

The Federal Reserve on Monday announced a series of steps to funnel massive amounts of liquidity through clogged credit markets, including boosting the sizes of cash auctions and offering banks interest on reserves.

OCT
6
2008

Yahoo, Google forced to postpone advertising deal

The advertising deal between Yahoo and Google had to be put on hold until the Justice Department completes the investigation regarding an allegedly antitrust aspect of the deal.

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