German-US car giant DaimlerChrysler is offering to cut executive pay in order to end a dispute over cost cuts.
Staff at the firm’s German plants have downed tools in protest at the plans to move jobs abroad unless 500m euros ($620m; £330m) in savings can be found.
But now the company says that its board members will accept a cut in pay if employees back down
Celebrity lifestyle guru Martha Stewart has been sentenced to five months in jail by a New York courtroom over charges of conspiracy and obstruction.
The US trendsetter was convicted in March for lying about a stock sale during a government investigation.
She was given two years supervised release, during which time she will have to wear a monitoring bracelet
De Beers has agreed to plead guilty in a decade-long price-fixing case in a move that could allow the world’s biggest diamond producer to return to the U.S. market after a nearly 50-year absence, a news report said Saturday
The European Union on Friday dropped money-laundering and smuggling claims against Philip Morris International in a $1.25bn settlement it claimed could herald similar deals with other tobacco companies.
The EU legal team, which is pursuing RJ Reynolds and Japan Tobacco in the US courts, believes the deal with the makers of Marlboro cigarettes is a benchmark for future settlements
US cable TV millionaire John Rigas and his son Timothy have been found guilty of 18 counts of fraud and conspiracy.
The elder Mr Rigas co-founded Adelphia Communications in 1952 and grew it into the fifth biggest US cable TV operator.
Adelphia went bust in 2002 with debts of $7bn (£3
US cable TV millionaire John Rigas and his son Timothy have been found guilty of 18 counts of fraud and conspiracy.
The elder Mr Rigas co-founded Adelphia Communications in 1952 and grew it into the fifth biggest US cable TV operator.
Adelphia went bust in 2002 with debts of $7bn (£3
Bank One Corp has agreed to pay penalties of $90m after an inquiry into improper stock trading.
The US Securities and Exchange Commission and New York’s attorney general both announced settlements with Bank One late on Tuesday.
Mark Beeson, ex-head of Bank One’s mutual funds unit, was fined $100,000 and banned from trading for two years
A Moscow court has ruled that Russian oil giant Yukos will have to pay almost 100bn roubles ($3.4bn: £1.9bn) in back taxes to the Russian authorities
Kenneth Lay, Enron’s former chief executive, has spoken out for the first time since the 2001 scandal that shook corporate America to the core.
Mr Lay blamed the fraud on his finance chief, claiming to be one of the 98% of Enron employees who were “good, honest, hardworking individuals”.
Prosecutors have been trying to build a case against Mr Lay for over two years
Microsoft has been given preliminary approval to settle a class-action anti-trust case in Arizona by giving away $105m (£57m) in computer vouchers.
The software giant had been accused of using its monopoly position to over charge for its software.
Under the deal businesses and homes who bought Microsoft products between January 1996 and January 2002 will get vouchers of up to $24 each