Drugs firm Merck has been ordered to pay $9m (£5.1m) in damages to a US man after its Vioxx painkiller was found to have contributed to his heart attack.
A New Jersey jury awarded the punitive damages to 77-year old John McDarby, almost a week after it found Merck liable for his heart attack
Public hearings into Wal-Mart’s proposed application for a US banking licence have begun in Virginia.
Its plan for an in-house bank known as an industrial loan corporation (ILC) is opposed by unions, consumer groups and many state-level banks.
They believe the move will threaten local businesses although Wal-Mart says it has no plans to open branches or offer banking services to consumers
Former Enron chief Jeffrey Skilling has said he is “absolutely innocent” of any charges linked to the firm’s collapse.
He made the comments as he began what is viewed by experts as his “make or break” testimony against charges of fraud and conspiracy.
“I’m absolutely innocent,” Mr Skilling said as he began his testimony at the federal court in Houston
A US court has reached a split verdict in the latest case brought against the manufacturer of the painkiller Vioxx.
A New Jersey jury found that Merck & Co was liable for one user’s subsequent heart attack and ordered the firm to pay $4.5m (£2
Healthcare giant Norton has become the third company to agree a multi-million pound settlement with the British National Health Service (NHS) to end a claim for alleged price fixing.
Under the terms of its agreement, US-based Norton does not accept any liability but will pay the British NHS a total of USD$24m (GBP£13.5m) compensation
A key prosecution witness lied about taking part in Enron-related crimes, an assistant of former Enron chiefs Ken Lay and Jeffrey Skilling has said.
Joannie Williamson told defence lawyers Mark Koenig admitted he had pleaded guilty to crimes he did not commit.
The defence team has repeatedly claimed fear of prosecution had pushed many Enron executives to plead guilty
A federal judge on Monday sentenced former Westar Energy Inc. CEO David Wittig to 18 years in prison for looting millions from the Kansas utility.
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Authorities in Austria have issued an arrest warrant for Phillip Bennett, former head of US brokerage Refco.
The move came a day after prosecutors began an inquiry into fraud and related charges surrounding Mr Bennett.
A warrant was also put out for the son of the former head of Bank Fuer Arbeit und Wirtschaft (Bawag), Wolfgang Floettl Jnr
A former employee of a Halliburton subsidiary has pleaded guilty to taking kickbacks from a Saudi subcontractor that was awarded a $14.4 million U.S
Former Enron executives lied to investors about its financial state because they knew the truth would destroy the company, a court has heard.
Testifying at the trial of Ken Lay and Jeffrey Skilling, former Treasurer Ben Glisan Jr said his bosses were full aware of the firm’s growing debt.
He said Mr Lay asked him about managing the firm’s accounts in 2001 to avoid a cut in Enron’s credit rating