Banking, Finance & Services

The American International Group has hired Arthur Levitt, a former Securities and Exchange Commission chairman, as a consultant to the board in an effort to quell dissent from institutional investors. Read More

Federal prosecutors aren't done with HealthSouth Corp., despite the acquittal of ousted CEO Richard Scrushy in a $2.7 billion earnings overstatement. Read More

Bernard J. Ebbers, the founder and former chief executive of World Com who was found guilty of fraud by a New York jury in March, agreed yesterday to surrender nearly all of his personal fortune - about $40 million - to investors who lost billions when the company spiraled into bankruptcy almost three years ago. Read More

A Milan judge sentenced 10 former Parmalat executives and a lawyer to jail on Tuesday in the first guilty ruling over the 14-billion-euro (9.3-billion-pound) collapse of Italy's biggest listed food group. Read More

J. P. Morgan Chase announced that it had agreed to pay $2.2 billion to Enron investors who accused the bank of participating in the accounting scandal that led to Enron's collapse. Read More

Thanks to the IMF and the World Bank, chicken and other local agriculture staples in Ghana are being replaced by subsidized foreign imports. Read More

Wachovia Corporation has apologized for its ties to slavery after disclosing that two of its historical predecessors owned slaves and accepted them as payment. Read More

A major British institutional investor will tomorrow oppose the re-election ExxonMobil's chief executive on the grounds that the world's biggest stock-listed oil company talks down links between man-made CO2 emissions and climate change. Read More

This week, a Moscow court will issue a verdict in the tax fraud trial of billionaire Mikhail Khodorkovsky. While some critics argue that the charges are politically motivated, others question his innocence in the eyes of the West. Read More

Maurice R. Greenberg, a former titan of the insurance industry who is at the center of a wide-ranging investigation into possible financial manipulation, will not answer regulators' questions today, his lawyer said yesterday. Read More