Keyword: firms

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  • Jeb Bush: NSA needs broader power to fight 'evildoers,' urges tech firms to cooperate

    08/18/2015 7:09:35 PM PDT · by Enlightened1 · 34 replies
    <p>Republican presidential hopeful Jeb Bush said Tuesday that the government should have broad surveillance powers of Americans and private technology firms should cooperate better with intelligence agencies to help combat "evildoers."</p> <p>At a national security forum in the early voting state of South Carolina, Bush put himself at odds with Republican congressional leaders who earlier this year voted to end the National Security Agency's bulk collection of phone records.</p>
  • Dollar to drop on S&P move; safe-haven demand seen

    08/07/2011 3:57:34 AM PDT · by markomalley · 6 replies
    Reuters/Yahoo ^ | 8/7/11 | Saikat Chatterjee
    The U.S. dollar may weaken and Treasury yields rise when Asian markets reopen on Monday, though any selling in response to ratings agency S&P's downgrade of the United States is likely to be tempered by the escalating crisis in the euro zone. The S&P cut in the U.S. long-term credit rating by a notch to AA-plus is an unprecedented blow and results from concerns about the nation's budget deficits and climbing debt burden. It called the outlook "negative," signaling another downgrade is possible in the next 12 to 18 months. "The initial reaction will be a high degree of uncertainty...
  • ‘Leaving Cal.’ list grows to 144 firms

    11/25/2010 1:26:21 AM PST · by South40 · 56 replies
    Orange County Register ^ | Jan Norman | 9/23/2010
    Irvine consultant Joe Vranich, who has been compiling a list of companies leaving California because of the state’s anti-business environment, is now up to 144 companies that have departed in 2010, including 34 in Orange County. In addition, he lists 51 companies (8 from Orange County) that left in 2009. That three-fold increase, Vranich says, is the tip of the iceberg that is California’s financial woes. “Quite clearly, the exodus of businesses out of California continues. It makes sense for companies to reduce their California footprint considering the ample supply of attractive, lower-cost alternative locations. Unless California reduces its hostility...
  • Small companies denied credit as big firms thrive

    07/12/2010 5:00:43 PM PDT · by NormsRevenge · 9 replies
    AP on Yahoo ^ | 7/12/10 | Jeannine Aversa - AP
    WASHINGTON – Big companies are building up cash and are expected to report strong earnings starting this week. Not so for small businesses that can't get loans — or hire freely until they do. The gap helps explain why the economic rebound isn't stronger and could even stall. Federal Reserve Chairman Ben Bernanke stepped up pressure Monday on banks to break the logjam and lend more to smaller firms, which employ at least half of American workers. Small business owners are relying on personal credit cards or raiding retirement accounts to stay afloat, the Fed chairman said. Bernanke and other...
  • Firms ‘extremely reluctant’ to hire

    07/06/2010 9:22:28 PM PDT · by Nachum · 29 replies ^ | 7/6/10 | Jan Norman, small-business columnist
    Few small-business owners would hire more workers even if they had more money, according to the monthly American Solutions survey. Almost half (46%) would put the extra money into savings and 15% would hire more workers. One in 17 would use the money to delay laying off existing employees. This is the basic reason for the lack of job creation even though most experts think the economy is no longer in recession. “The cautious behavior shows entrepreneurs are still very reluctant to make any large investments or outlays of new capital given the current economic environment,” says American Solutions, a...
  • Small Firms May Not Keep Current Health Plans After White House Decision

    06/18/2010 9:31:33 AM PDT · by Nachum · 16 replies · 615+ views
    nyt ^ | 6/15/10 | ROBB MANDELBAUM
    Although President Obama and many Democrats promised during the health care reform debate that “if you like your health plan, you can keep it,” the health insurance plans that are now offered by small businesses probably will not survive the transition to a regulated marketplace. The Obama administration acknowledged this on Monday, when it proposed regulations for determining what insurance plans can remain exempt from market reforms. And while participants in those plans will probably be grateful for it, business owners may be less sanguine about the outcome. Because so many people were evidently reluctant to trade the comfort of...
  • Indian firms hope to cash in on U.S. health-care law

    03/26/2010 1:56:26 PM PDT · by Nachum · 20 replies · 497+ views
    wapo ^ | 3/26/10 | Rama Lakshmi
    NEW DELHI -- While the contentious political battle over the new health-care law continues in the United States, in India the outsourcing industry is seeing it as a boon for business and is salivating over its prospects. Indian companies are working with U.S. insurers handling back-office operations, including claims processing, supply management and transcription services. The extension of health care to 32 million Americans over the next decade will mean that the need for those services will grow, executives here said. "The health-care reform bill is a very, very big opportunity for us," said Ananda Mukerji, managing director of Firstsource...
  • Foreign energy firms getting windfall of U.S. stimulus funds (Money buying turbines made abroad)

    02/09/2010 10:20:19 AM PST · by NormsRevenge · 10 replies · 531+ views
    San Diego Union - Tribune ^ | 2/9/10 | Brooke Williams Watchdog Institute
    Of the more than $2 billion the federal government has given out to boost the economy and create green-energy jobs, more than three-quarters has gone to foreign-owned companies that dominate the global wind-power industry. This latest finding by the Investigative Reporting Workshop, a nonprofit at American University in Washington, D.C., is illustrated clearly in San Diego County, where about a dozen commercial wind developers have offices. La Jolla is the headquarters for Eurus Energy America, the subsidiary of a Japanese firm that received $91 million in federal stimulus money for a wind farm in western Texas. It plans to apply...
  • Obama Bank Fee to Hit 50 of the Biggest U.S. Financial Firms

    01/14/2010 8:55:37 AM PST · by NormsRevenge · 54 replies · 1,661+ views
    bloomberg on yahoo ^ | 1/14/10 | Julianna Goldman
    Jan. 14 (Bloomberg) -- As many as 50 financial firms with assets greater than $50 billion each would be hit by a levy President Barack Obama will propose today to help recoup taxpayer bailout money and trim the federal budget deficit, an administration official said. The levy based on bank liabilities would be imposed starting June 30 and the administration estimates it will raise $90 billion over a minimum of 10 years, said the official, who briefed reporters on the condition of anonymity. Obama plans to outline the proposal late this morning at the White House and a more detailed...
  • Obama health 'czar' was chief of legally troubled firms

    12/07/2009 10:45:35 PM PST · by Nachum · 8 replies · 358+ views
    Washington Times ^ | 12/8/09 | Chuck Neubauer
    Nancy-Ann DeParle, one of President Obama's chief advocates for the health care reform bill wending its way through Congress, earned more than $6.6 million as a paid director for health care firms, some of which were targeted in government investigations or whistleblower lawsuits on suspicions of billing fraud and other legal problems.
  • Obama: Firms nervous that health reform may pass

    10/15/2009 1:56:05 PM PDT · by Nachum · 44 replies · 1,315+ views
    Reuters ^ | 10/15/09 | staff
    NEW ORLEANS (Reuters) - U.S. President Barack Obama said on Thursday that the drop in the health insurance stocks this week was a sign the industry has become nervous that a healthcare reform bill may pass.
  • New California rules allow timber firms to sell carbon credits

    09/25/2009 9:10:55 AM PDT · by NormsRevenge · 10 replies · 734+ views
    LA Times ^ | 9/25/09 | Eric Bailey
    The Schwarzenegger administration pushed through new rules Thursday allowing California's biggest timber firms to cash in on the fight against global warming even as they clear-cut parts of their forests. Forest owners stand to reap tens of millions of dollars in the coming decades by selling the capacity of their woods to cleanse the air of carbon dioxide, offsetting greenhouse gases belched by industrial polluters. But the administration's successful effort to allow loggers to sell their carbon credits to industry while also clear-cutting their lands sparked intense opposition from several conservation groups. Ecologists say the self-styled "green" governor, an opponent...
  • Health firms paid Nancy-Ann DeParle $5.8 million

    06/13/2009 11:07:15 PM PDT · by Nachum · 13 replies · 915+ views
    Politico ^ | 6/13/09 | Kenneth Vogel
    The official overseeing White House health care reform efforts earned more than $5.8 million in the past three years from her work for major medical companies, according to a personal financial disclosure and other public records . The disclosure statement filed by White House health czar Nancy-Ann DeParle, released this week, shows that from the start of last year until her appointment this March, she pulled in more than $2.3 million from her positions on the boards of six firms likely to be significantly affected by the health care reforms that she’s championing.
  • Treasury weighs purchasing stakes in more firms: report

    11/04/2008 9:14:15 AM PST · by BGHater · 2 replies · 289+ views
    Reuters ^ | 04 Nov 2008 | Ajay Kamalakaran
    The U.S. Treasury Department is considering using more of its $700 billion rescue fund to buy stakes in a broad range of financial companies, not just banks and insurers, after tentative signs of the program's success, the Wall Street Journal said, citing people familiar with the matter. In focus are companies that provide financing to the broad economy, including bond insurers and specialty finance firms such as General Electric Co's (GE.N) GE Capital unit, CIT Group Inc (CIT.N) and others, the people told the paper. Treasury may also scrap part of its early plan of purchasing assets through an auction...
  • Lobbyists Smoothed the Way For a Spate of Foreign Deals

    01/26/2008 1:00:38 PM PST · by BGHater · 2 replies · 221+ views
    The Wall Street Journal ^ | 25 Jan 2008 | BOB DAVIS and DENNIS K. BERMAN
    WASHINGTON -- Two years ago, the U.S. Congress pressured the Arab emirate of Dubai to back out of a deal to manage U.S. ports. Today, governments in the Persian Gulf, China and Singapore have snapped up $37 billion of stakes in Wall Street, the bedrock of the U.S. financial system. Lawmakers and the White House are welcoming the cash, and there is hardly a peep from the public. This is no accident. The warm reception reflects millions of dollars in shrewd lobbying by both overseas governments and their Wall Street targets -- aided by Washington veterans from both parties, including...
  • Immigrant smugglers use crooked firms

    11/21/2007 7:54:40 PM PST · by NormsRevenge · 16 replies · 160+ views
    AP on Yahoo ^ | 11/21/07 | Jacques Billeaud - ap
    PHOENIX - Smugglers who bring illegal immigrants into the U.S. are getting crucial help from seemingly legitimate businesses that supply them with cars, lodging, plane tickets and other services, knowing full well what's going on. Investigators say the number of these corrupt businesses is small, but they play a significant role in helping illegal immigrants reach the country's interior. The accomplices have included landlords and rental agents who provide homes for smugglers to hide immigrants; taxi drivers near the border who bring immigrants to the closest cities; used-car dealerships that let smugglers register vehicles under false names; and travel agencies...
  • Wall Street firms see recession nearing

    11/05/2007 10:12:44 PM PST · by NormsRevenge · 54 replies · 78+ views
    Reuters on Yahoo ^ | 11/05/07 | John Poirier
    NEW YORK (Reuters) - The U.S. economy might be edging toward a recession in the wake of mortgage-related credit woes plaguing the financial markets, bankers and analysts said on Monday. "I think that the risk of a recession is greater than people realize," James Dunne, chief executive of Sandler O'Neil & Partners, said at the Reuters Finance Summit in New York. With home prices dropping, more people about to lose their homes due to unaffordable mortgages and sharply higher oil prices, the economy could be on the brink of slowing down, they said. "I think there is a serious risk...
  • CA: Westly Helped Firms Tap State Fund - CalPERS

    05/10/2006 9:26:05 AM PDT · by NormsRevenge · 7 replies · 296+ views
    LA Times ^ | 5/10/06 | Evan Halper and Dan Morain
    SACRAMENTO — Soon after taking office in January 2003, state Controller Steve Westly began helping three venture capital firms land multimillion-dollar investments from California's giant pension system, according to public records including e-mails and officials' calendars. Westly, now running for the Democratic gubernatorial nomination, received campaign donations from individuals associated with each of the funds, campaign finance records show. At any given time, hundreds of fund managers are angling for CalPERS investments. Westly is one of 13 members of the California Public Employees' Retirement System board, and as the state's chief financial officer, one of the most influential. The funds...
  • Foreign firms operate terminals at major West Coast cargo ports

    02/24/2006 7:16:10 PM PST · by NormsRevenge · 42 replies · 647+ views
    AP on Bakersfield Californian ^ | 2/24/06 | Alex Veiga - ap
    LOS ANGELES (AP) - An Arab company's potential takeover of some marine terminals at six major ports on the East Coast has raised questions about foreign operations at seaport facilities. Such arrangements have been commonplace at West Coast ports for years. Most of the cargo that enters the country comes through huge ports in Los Angeles, Long Beach, Oakland and the Seattle-Tacoma area of Washington. Each has marine terminals operated by foreign shipping lines - many from Europe and Asia. "On the West Coast, almost all the ports have their terminals operated by foreign companies," said Ivan Eland, senior fellow...
  • Shetland Jumper Firms Running Short Of Knitters

    02/13/2006 5:40:20 PM PST · by blam · 66 replies · 897+ views
    The Telegraph (UK) ^ | 2-13-2006 | Auslan Cramb
    Shetland jumper firms running short of knitters By Auslan Cramb (Filed: 13/02/2006) Knitwear companies in Shetland are having trouble fulfilling orders for their distinctive sweaters because their knitters are "a dying breed". Garments from Britain's most northerly islands are highly prized in Japan. But Doreen Brown, of Shetland Collection, the largest hand knitting company in the islands, said her firm had struggled to meet a large order for Japan. "We have two dozen knitters but they are a dying breed," she said. "Our oldest is 94 and the youngest is 60 and we can't get any more." Turnover in the...
  • Firms' Threat To Limit Bird Flu Vaccine (UK)

    10/26/2005 5:37:07 PM PDT · by blam · 6 replies · 258+ views
    The Telegraph (UK) ^ | 10-26-2005 | Rosie Murry-West
    Firms' threat to limit bird flu vaccine By Rosie Murray-West (Filed: 26/10/2005) The makers of flu vaccine yesterday threatened not to produce enough bird flu vaccine to deal with an outbreak unless ministers agreed to buy more of their products. Richard Stubbins, of the UK Vaccine Industry Group, told a House of Lords select committee that it was "unreasonable" for the Government to expect the industry to build new plants to produce enough vaccine for a pandemic then mothball them. The Government is stockpiling millions of doses of Tamiflu He called for the Government to vaccinate everyone aged over 50...
  • Half oil-food firms said to pay kickbacks (UN Oil-F0R-Food)

    08/09/2005 3:44:04 PM PDT · by NormsRevenge · 41 replies · 1,952+ views
    AP on Yahoo ^ | 8/9/05 | Edith M. Lederer - AP
    UNITED NATIONS - Half the 4,500 companies that took part in the U.N. oil-for-food program in Iraq paid kickbacks or illegal surcharges and are being given a chance to respond to the accusations, two top investigators told The Associated Press. The U.N.-backed probe is expected to release a major report in early September on the $64 billion operation and a final report in October on the companies involved in the purchase of Iraqi oil or sale of humanitarian goods under the program, the investigators said. "We will report on the management and the corruption," former U.S. Federal Reserve chairman Paul...
  • Chinese City's Allure Fades for Some Firms

    07/03/2005 9:22:38 PM PDT · by Nachum · 5 replies · 755+ views
    Yahoo News ^ | July 3, 2005 | Don Lee Times Staff Writer
    DONGGUAN, China — Thousands of foreign businesspeople, primarily Taiwanese, helped turn this southern Chinese city into one of the world's busiest export manufacturing centers. Now, amid rising wage and pension costs, energy shortages, tighter government regulation, traffic bottlenecks and other concerns, some of them are starting to look elsewhere. Their restlessness reflects a dark side to China's economic boom, as growth pains and other issues prompt companies to reconsider starting up or expanding in China. Chang Han Wen is having second thoughts. He came here from Taiwan in early 1991 when the area was still largely farmland, launching a shoe...
  • AP: OPIC OKs loans for firms tied to Mafia

    06/26/2005 10:23:28 AM PDT · by NormsRevenge · 13 replies · 749+ views
    Monterey Herald ^ | 6/26/05 | Matt Kelley - AP
    WASHINGTON - A government agency that helps U.S. businesses investing in developing countries has approved millions of dollars of loans to companies whose owners did business with Mafia figures and rebels in a bloody African conflict, records show. The agency also awarded insurance to assist a company that is part of a Mexican energy conglomerate ordered by the Internal Revenue Service to pay more than $70 million in back taxes. The Overseas Private Investment Corp., which operates with about $5 billion in reserves, says it conducts background checks before awarding loans or insurance. But the agency acknowledged it missed some...
  • Brazil lawmaker: Firms financed vote buy

    06/11/2005 10:01:03 PM PDT · by NormsRevenge · 1 replies · 279+ views
    Monterey Herald ^ | 6/11/05 | Tales Azzoni - AP
    SAO PAULO, Brazil - A vote buying scandal in Brazil's Congress was financed by state and private companies, a Brazilian lawmaker alleged in an interview published Saturday. Rep. Roberto Jefferson said the money was collected from the private and public companies by a man who works with Delubio Soares, the Workers Party treasurer accused of making the reported payoffs. Last week Jefferson claimed that President Luiz Inacio Lula da Silva's Workers Party made monthly payments of about $12,000 to lawmakers in exchange for votes. In the exclusive interview with the Folha de S. Paulo newspaper, Jefferson did not name the...
  • US firms reduce pension payments

    04/12/2005 10:01:54 PM PDT · by NormsRevenge · 205+ views
    Yahoo Business ^ | 4/12/05 | Dan Roberts -
    Uncertainty over the direction of US pension reform is leading some companies to scale back their contributions despite a deficit of more than $100bn among the top 100 schemes. Milliman, a firm of actuaries, said a number of companies had privately admitted postponing voluntary payments for fear they would lose flexibility over their contributions in future. This comes as Congress considers rule changes to make companies more responsible for their pension promises to employees. Changes to accounting standards are also expected to give investors more visibility of pension liabilities. Schemes which promise a guaranteed percentage of salary at retirement are...
  • CA: Signature-gathering firms hustling democracy along

    03/19/2005 11:35:35 AM PST · by NormsRevenge · 1 replies · 333+ views
    Sac Bee ^ | 3/20/05 | Andy Furillo
    "Democracy on speed" is what one expert calls it, where professionals hustle signatures on the street for multimillion-dollar petition merchants, one name and about one dollar at a time. With Gov. Arnold Schwarzenegger threatening to call a special election for November, the signature-gathering industry is ramping toward an all-time peak, rivaling last year's record in which political campaigns spent $24.2 million to put their initiatives before voters, according to the secretary of state's office. --snip-- "It makes politics more convenient," said Bryan Kenney, 23, of Sacramento. "It's the only real kind of politics I ever get. My mom is a...
  • U.S. Is Punishing 8 Chinese Firms for Aiding Iran

    01/17/2005 9:58:44 PM PST · by Next_Time_NJ · 14 replies · 430+ views
    WASHINGTON, Jan. 17 - The Bush administration imposed penalties this month against some of China's largest companies for aiding Iran's efforts to improve its ballistic missiles. The move is part of an effort by the White House and American intelligence agencies to identify and slow important elements of Iran's weapons programs.
  • Massachusetts firms drop domestic-partner benefits

    12/09/2004 8:54:21 AM PST · by crushelits · 46 replies · 1,364+ views ^ | December 9, 2004 | Cheryl Wetzstein
    To some major Massachusetts employers, this year's advent of same-sex "marriage" means the end of their domestic-partnership benefit programs. The decision by IBM Corp., the New York Times Co. and Northeastern University to offer health benefits only to "married" same-sex couples pleases some advocates, but troubles others. The Massachusetts Supreme Judicial Court's Goodridge decision, which legalized same-sex "marriage" as of May 17, "leveled the playing field," said Candace Quinn, vice president of Baystate Health System, which employs 90,000 people. Years ago, she said, Baystate started offering domestic-partner benefits to its homosexual employees, because "they had no other option to cover...
  • US Firms Close To L5m Space Race Prize

    02/10/2004 9:18:52 AM PST · by blam · 3 replies · 166+ views
    Ananova ^ | 2-10-2004
    US firms close to £5m space race prize Two US firms are closing in on a £5.5 million prize to achieve the first privately-funded manned spaceflight. The companies are already so near to making the breakthrough that they have applied for licences from the US government. The teams are among 27 from around the world, including three from Britain, taking part in a X Prize competition. To win, a spacecraft capable of holding three people must reach an altitude of 62 miles above Earth. Commercial jets fly at less that seven miles high. If the same spacecraft makes a second...
  • Public Is Baffled, Drug Firms Admit

    12/08/2003 4:10:27 PM PST · by blam · 1 replies · 211+ views
    Independent (UK) ^ | 12-9-2003 | Steve Connor
    Public is baffled, drug firms admit By Steve Connor, Science Editor 09 December 2003 British drugs companies admitted yesterday that it is very difficult for the public to find out how well prescription medicines work. In a survey of ten firms carried out by The Independent, none could cite where the layman could easily discover how well products performed in clinical trials. The findings come a day after a senior executive with Britain's leading drugs company admitted that most prescription drugs do not work for most people.Most data on "efficacy" - how well the drug did in clinical trials -...
  • Wall St. fines 10 firms

    04/29/2003 9:29:56 AM PDT · by NormsRevenge · 3 replies · 192+ views
    Mercury News ^ | 4/29/03 | Deborah Lohse
    <p>Wall Street regulators Monday unveiled damaging details in a $1.4 billion settlement with 10 firms accused of misleading investors with biased stock research.</p> <p>Regulators said they hoped the disclosure would help some duped investors collect money for their losses. Less than a third of the settlement money will be set aside to repay investors who can show they lost money relying on such research, with the rest going to state coffers and to fund a new form of stock research.</p>
  • US Firm Is Hired To Purge Schools Of Saddam's Doctrine

    04/21/2003 4:10:04 PM PDT · by blam · 16 replies · 253+ views
    Independent (UK) ^ | 4-22-2003 | David Usborne
    US firm is hired to purge schools of Saddam's doctrine By David Usborne in New York 22 April 2003 The United States is taking the first steps towards rebuilding Iraq's creaking and highly politicised school system with a view to excising the image and doctrines of Saddam Hussein from classrooms. A private company based in Washington DC, Creative Associates International, is preparing to deploy teams of education experts throughout the country after winning an initial contract from the US government. Its task is to prepare Iraqi primary and secondary schools for the new year starting in October. The contract, which...
  • US Firms In L150m Deal To Wipe Away Saddam Cult (Hearts & Minds)

    04/15/2003 6:50:19 PM PDT · by blam · 4 replies · 220+ views
    The Telegraph (UK) ^ | 4-16-2003 | David Rennie
    US firms in £150m deal to wipe away Saddam cult By David Rennie in Washington (Filed: 16/04/2003) The United States has recruited a number of American consultancy firms to help to purge Iraqi society of decades of political terror and indoctrination, officials said yesterday. The work includes rebuilding the country's propaganda-infested school system and launching a nationwide search for "legitimate" local leaders who can liaise with Pentagon-appointed interim administrators. The contracts are worth up to £150 million in total, a spokesman for Usaid, the federal aid agency, said. Under US law governing federal spending, only American firms were allowed to...
  • Calif. Judge Clears Tobacco Firms in Case

    01/01/2003 3:41:20 PM PST · by hoosierskypilot · 6 replies · 548+ views
    OAKLAND, Calif. - Two major tobacco companies won a rare West Coast court victory when a federal judge cleared them of responsibility in the death of a lifetime smoker. U.S. District Judge Saundra B. Armstrong ruled Tuesday that there was insufficient evidence to find Philip Morris Cos. and R.J. Reynolds Tobacco Co. liable in the death of 81-year-old Frank Robert White. The verdict came shortly before jury deliberations were to begin in the case. White's children and widow argued that the man's 1999 death was caused by the companies' failure to make safer cigarettes or to provide adequate warnings of...
  • Mugabe Blames Foreign Firms (Zimbabwe)

    12/15/2002 6:05:39 PM PST · by blam · 5 replies · 145+ views
    The Telegraph (UK) ^ | 12-16-2002 | Tim Butcher
    Mugabe blames foreign firms By Tim Butcher, Africa Correspondent (Filed: 16/12/2002) President Robert Mugabe threatened to seize all foreign-owned petrol stations in Zimbabwe as he blamed the country's fuel crisis on foreign firms rather than the economic incompetence of his own regime. In remarks made at the Zanu-PF party conference, Mr Mugabe accused Zimbabwean-registered subsidiaries of Mobil, Caltex and BP of making excessive profits. "The government can acquire these points, compensate them and distribute the fuel," he said. "There has to be quick action. We don't want the holiday mood to be disturbed." His promise to offer compensation will not...
  • Over 21,000 German firms go bust

    11/22/2002 5:11:17 PM PST · by knighthawk · 4 replies · 269+ views
    Business Day ^ | November 22 2002 | AFP
    WIESBADEN - More than 21,000 German companies filed for insolvency in the first seven months of the current year, data published by the Federal Statistics Office shows. A total 21,585 companies folded in the period from January to July, the office revealed in a statement. However, the statisticians did not provide a comparative figure for the year-earlier period because they argued that German insolvency law had changed since then, making direct comparisons difficult. The total number of companies and private individuals in Germany who filed for insolvency in the January-July period stood at 47,282, the office added. That was almost...
  • Iraq presses firms to forgo billions in reparations

    06/19/2002 3:39:26 PM PDT · by knighthawk · 2 replies · 169+ views
    MLive ^ | June 19 2002 | STEVE STECKLOW and ALIX M. FREEDMAN
    STEVE STECKLOW, AP and ALIX M. FREEDMAN, The Wall Street Journal As a punishment for its 1990 invasion of Kuwait, Iraq has been required to pay reparations to companies and individuals damaged during the Persian Gulf War. More than two million war-related claims, totalling more than $300 billion, were submitted to the United Nations, which supervises the program. The claims cite losses ranging from ruined oil equipment to lost jobs to cancelled deals. But in the past four years, some 185 companies have quietly dropped a total of $2.9 billion in claims, according to U.N. records. These companies, including giant...