Entries by ceadmin

US exchange sued by pension fund

The US’s largest pension fund, Calpers, has sued the New York Stock Exchange and seven specialist trading firms alleging trading abuses.

The lawsuit said improper trading by the specialist firms went unchecked by the NYSE.

“We are filing today a landmark lawsuit to recover losses and to right a serious wrong that exists at the New York Stock Exchange,” Calpers said

Bertelsmann faces $1bn pay-out

Music giant Bertelsmann may have to pay up to $1bn to two internet businessmen after losing a breach of contract lawsuit.

A California jury awarded the payment to two men who helped put together Bertelsmann’s 1995 merger with web portal AOL Europe.

Bertelsmann later sold half its stake in AOL Europe to Time Warner for $6

Microsoft abandons older Windows

Thousands of companies and individuals could face security headaches and inconvenience as Microsoft stops selling some of its older products.

It has announced it is withdrawing products such as Windows 98, Windows NT 4 and Outlook 2000.

The decision was made because the programs contain code outlawed under a legal deal with rival Sun Microsystems

Halliburton Questioned regarding Iran

New York official wants information


Copyright 2003 Houston Chronicle Washington Bureau

WASHINGTON — New York City’s comptroller is prodding Houston-based Halliburton Co. to release more details about its business dealings in Iran.

William Thompson Jr

State Tax Report

In a decision that reinforces the state’s right to tax companies on all transactions, Chancellor Carol McCoy ruled against Pfizer, Inc., in its lawsuit against Tennessee Commissioner of Revenue Loren Chumley.

“Pfizer has misconstrued the statutory classifications,” McCoy said in her judgment

Halliburton in Iraq fuel costs row

Washington (BBC)- Halliburton, the oil services and construction group, has been accused by US lawmakers of charging “inflated prices” when they sell petrol to US troops in Iraq.

Halliburton charges the US government more than $1.59 (£0

Questionable Advertising

Eurostar, the cross-Channel train operator, has called on regulators to scrutinise adverts by British Airways that it says are misleading.

Guillame Pepy, Eurostar’s boss, has asked France’s competition and anti-fraud body, the DGCCRF, to investigate ads offering cheap flights between Paris and London.

The complaint is about French ads that offer customers “London at 29

Qwest settles fraud investigation

Qwest Communications settled a long-standing consumer fraud lawsuit with the Arizona Attorney General’s Office Monday by agreeing to pay a $3.75 million fine and to better inform customers about their options.

The suit, filed in 2001 by then-Attorney General Janet Napolitano, accused Qwest of numerous violations of Arizona’s Consumer Fraud Act, including placing unauthorized charges on consumers’ bills; failing to disclose charges associated with repairs and installation; engaging in false and misleading advertising; and setting up customer service departments that frustrate consumers’ attempts to resolve problems