31 Mar 2005 10:53 AM

The SEC handed subpoena to PricewaterhouseCoopers LLP hunting for documents concerning to transactions between AIG and Berkshire Hathaway Inc.’s General Re unit. The insurance transactions which took place in December, 2000, and March, 2001, are under investigation by the SEC’s enforcement division and the New York State Attorney General’s office. The transactions boosted AIG’s claims reserves by $500 million when investors were concerned that AIG’s reserves have been in deficiency. This caused the suspicion of investigators about so called finite reinsurance conducted by the AIG executives in order to give the company a misleading financial appearance.

31 Mar 2005 08:24 AM

A former YUKOS security chief Alexei Pichugin was sentenced Wednesday for 20 years for dual murder. Alexei Pichugin, a senior official for then biggest oil company in Russia, was found guilty by eight of the twelve jurors in the murder of two employees of Menatep Group.

31 Mar 2005 08:22 AM

Qwest Communications seems to have a new counterbid plan for MCI, a company that accepted earlier a $7.64-billion takeover offer from Verizon.

31 Mar 2005 08:19 AM

Mark Hurd, who was appointed as new chief of Hewlett Packard Tuesday, says he is ready to face challenges and would do his best to boost the company’s profits.

31 Mar 2005 08:17 AM

Philip Murtaugh, General Motors Corp.’s China unit chairman and managing director, resigned «for personal reasons» after five years in the chair, a report issued Wednesday said.

31 Mar 2005 08:05 AM

Wednesday’s announcement about the death of the patient who was enrolled in a clinical trial testing Tysabri because of progressive multifocal leukoencephalopathy(PML), influenced the market position of Ireland’s biggest drugmaker Elan Corp. and its U.S. partner Biogen Idec.

30 Mar 2005 10:43 AM

As many as 10 years in jail may be the sentence for the ex-chief of the Russian oil company YUKOS, Russian officials say. Russia’s prosecutors are seeking the highest possible punishment for YUKOS founders Mikhail

30 Mar 2005 09:54 AM

Disney says good-bye to its main creative partner Miramax, founded by co-chiefs Harvey and Bob Weinstein. According to their deal, the Weinsteins will receive a sizable settlement enabling them to start their own movie company. The expiration of their contract by Sept. 30 brings an end to 12-year agreement of the Mouse House with

30 Mar 2005 08:02 AM

The battle between Qwest Communications and Verizon seems to never end as Qwest restarts its counterbidding for MCI that accepted a $7.64-billion takeover offer from Verizon. Despite receiving counterbid rejection from MCI for the second time, Qwest remains optimistic about the possible

30 Mar 2005 07:41 AM

Mark Hurd, NCR Corp.’s longtime executive, was named to replace ousted Carly Fiorina and begin new era for Hewlett Packard that has been facing decline since Fiorina started a hurdle-race several years ago. Mark

29 Mar 2005 06:35 PM

Strong earnings and a growing interest in shareholder satisfaction are urging some Japanese companies to increase their dividend payouts. The hunt for these high-yielding stocks is boosting market sentiment, supporting Japanese share prices at the

29 Mar 2005 03:22 PM

The brothers hostile to each other who keep India’s largest conglomerate under control are about to reach an agreement on how to divide their energy, telecommunications and finance empire, according to the people familiar with the matter. The

29 Mar 2005 11:33 AM

The Missouri regulators suspended the securities activity of Waddell & Reed Financial Inc. and are eager to probe up to 350 its questionable transactions, the company said Tuesday. The

29 Mar 2005 10:03 AM

On Tuesday, Russian oil company Lukoil signed an agreement with Gazprom, natural gas producer aimed at expanding on the oil-gas market. The

29 Mar 2005 08:23 AM

Sony will pay as much as $90.7 million in damages to San Jose, California-based Immersion Corp. The company was also ordered to halt its popular PlayStation2 console as Immersion claimed Sony violated two of its patents and used them to create tactile feedback features.