July 3, 2000 |
The FBI is investigating whether a U.S. businessman illegally funneled $35 million from three oil companies to high-ranking Kazakhstan officials, including President Nursultan Nazarbayev, Newsweek reported Sunday. The investigation comes as the United States, Russia and Iran vie to win Kazakh approval for competing oil-export routes for the former Soviet republic's potentially vast oil reserves.
June 15, 2000 |
Amid the din of million-dollar parties and free employee BMWs that have come to define the excesses of the "dot-com" era, the quiet voice of frugality is being heard. Fiscal reason has been an oxymoron in high-tech centers around the country since the dawning of the "new economy." With billions of dollars being thrown around, spending big was an easy way to get attention and seem successful.
May 29, 2000 |
Some of the nation's biggest companies, with their outsize appetites for political influence, are helping foot the bill for the Democratic National Convention in Los Angeles. The dollars--including a substantial amount from corporations dealing with the federal government--are crucial for the financing of the most extravagant act of political theater here since John F. Kennedy accepted the Democratic Party nomination for president in 1960.
May 26, 2000 |
The black Aztec eagle, symbol of the United Farm Workers of America, is quietly extending its wings beyond the fields of rural California to touch the skylines of America's cities. With little fanfare, the labor organization and its affiliates are looking to expand their growing radio network in cities such as Las Vegas, where gambling, not agriculture, is the cash crop. They are acquiring and rehabilitating low-income urban housing in California, New Mexico, Arizona and Texas.
May 23, 2000 |
The fate of the Clinton administration's plan to force a 10% reduction in air pollution nationwide will be decided next year by the Supreme Court. The anti-smog rules, if put into effect, would make breathing easier for millions and spare thousands from asthma and respiratory ailments, the administration says. But the U.S. Chamber of Commerce says it would cost American business at least $46 billion a year to comply with the standards. Last year, a U.S.
May 22, 2000 |
Future historians are likely to consider it a sign of the times that ABC has decided to air "Who Wants To Be A Millionaire" no less than four nights a week this fall. This is an era when the money culture is overshadowing the public culture, when the government seems enfeebled and the free market robust.
May 20, 2000 |
Banks were much more cautious about lending to businesses in the last three months, citing some uncertainties about the economy's outlook, the Federal Reserve said Friday. At the same time, consumer demand for home mortgage loans continued to decrease, reflecting higher interest rates, according to the Fed survey of loan officers from 57 large domestic banks and 21 U.S. branches of foreign banks.
April 18, 2000 |
Investors itching to get back into stocks on Monday found an excuse in some healthy first-quarter earnings news, at the start of a heavy week for profit reports. Among the day's big stock winners were Ford Motor, financial giant Citigroup and drug titan Eli Lilly, all of which reported results above expectations. But the technology sector's earnings may be most closely scrutinized this week, given the plunge in most tech stocks since mid-March.
April 17, 2000 |
If fundamentals matter once again on Wall Street, investors will have plenty to focus on this week, in the form of first-quarter corporate earnings reports. Whether those reports will help stabilize the market after last week's plunge is anyone's guess, but the numbers are, at least, expected to be robust.