September, 2007
WASHINGTON?The House of Representatives Wednesday afternoon approved a bill that would extend the federal terrorism insurance backstop for 15 years. The Terrorism Risk Insurance Revision and Extension Act?which passed by a vote of 312 to 110?would also add group life to the list of insurance lines...
DETROIT (Reuters)?United Auto Workers and General Motors Corp. resumed negotiations for a new labor contract on Wednesday, five days past the expiration of the previous pact. GM and UAW negotiators broke off their talks on Tuesday at around 9 p.m. and returned to the bargaining table on Wednesday...
LONDON (Reuters)?British insurer Standard Life said Wednesday it was considering the possibility of making a cash and shares offer for rival Resolution, which has already agreed to merge with Friends Provident. Britain's fifth-largest insurer said a move on its smaller rival Resolution could...
NEW YORK (Reuters)?William Lerach, a lawyer who won billions of dollars for shareholders suing corporations, will plead guilty to criminal conspiracy and go to prison for his involvement in a kickbacks scheme at his former law firm, Milberg Weiss L.L.P., federal prosecutors said Tuesday. The plea...
Although the Leapfrog Group has placed 41 hospitals on its ?Top Hospitals? list for 2007, the Washington-based organization points out that significant gaps in safety and quality practices are still prevalent in U.S. medical centers. The survey, which included responses from 44% of the urban,...
NEW YORK (Reuters)?Wal-Mart Stores Inc. said Tuesday it is expanding the number of health care plans it will offer its 1.3 million U.S. employees, including adding health care credits and $4 monthly prescriptions for any of 2,400 generic drugs. The new plans will go into effect in January....
HOUSTON (Reuters)?Energy company BP P.L.C. said Tuesday it had reached a settlement in four civil cases that were in the third week of a trial related to a deadly 2005 explosion at its Texas City, Texas, refinery. "The four cases that were being tried have settled," said Neil Chapman, a spokesman...
WASHINGTON?President Bush?s nominee to be the next U.S. Attorney General says cash balance pension plans are not age discriminatory. Judge Michael Mukasey, in a case involving a cash balance plan offered by PricewaterhouseCoopers L.L.P. of New York, ruled last year that PwC?s plan did not...
HONG KONG (Reuters)?Maurice R. Greenberg, the controversial former chairman of American International Group Inc., is investing in China's booming construction industry through his private equity firm Starr International. Starr has signed a deal to be a strategic partner in property and...
SHANGHAI, China (Reuters)? China was evacuating tens of thousands of people from its financial hub Shanghai on Tuesday in the face of a powerful typhoon churning towards the east coast. About 200,000 people living in exposed areas in the city of over 14 million would be moved to temporary...
