Financial news on October 03, 2009

Business and Financial news
4 Madoffs Being Sued for Millions

The complaint does not accuse the family members of participating in the Ponzi scheme, but it calls them “derelict” in carrying out their professional duties. Read more..

By DIANA B. HENRIQUES - The New York Times

At Miramax, Deep Cuts in Staff and Filmmaking

Once a leader in a thriving independent film scene, the company’s work force will fall to about 20 from 500 a decade ago. Read more..

By BROOKS BARNES - The New York Times

Botox Maker’s Suit Cites Free Speech

Allergan is suing the government, charging that restrictions on telling doctors about unapproved drug uses violates its free-speech rights. Read more..

By NATASHA SINGER - The New York Times

Drug Maker Halts Test of Pancreatic Cancer Drug

SciClone Pharmaceuticals said Friday it had discontinued a study of its experimental drug for pancreatic cancer after a recommendation by a safety review committee. Read more..

By BLOOMBERG NEWS - The New York Times

Electricité de France May Sell British Unit

The French power company is seeking to reduce its debt load, and EDF Energy, its British power distribution unit, is valued at over $5.8 billion. Read more..

By CHRIS V. NICHOLSON - The New York Times

G.E. Chief Sees India Helping Cut Costs of U.S. Health Care

Jeffrey Immelt, chief executive of General Electric, said health care products and services developed cheaply in India would be exported to the United States. Read more..

By HEATHER TIMMONS - The New York Times

President of Toyota Apologizes

Toyota has suffered a series of adverse events since Akio Toyoda became president of the company a few months ago, and he apologized for them. Read more..

By HIROKO TABUCHI and MICHELINE MAYNARD - The New York Times

Starwood Said to Be Near Deal to Buy Assets of Corus

Corus was seized by the Federal Deposit Insurance Corporation last month. Read more..

By ZACHERY KOUWE - The New York Times

Struggling to Help a Country Heal

Albania’s economy is struggling to overcome the scars left by 40 years of brutal authoritarianism. Read more..

By DAN BILEFSKY - International Herald Tribune

W.T.O. Chief Sees Russian Interest in Joining Waning

But the trade official, Pascal Lamy, said the “real stress test for the W.T.O.” was likely to come in the next year or two, when unemployment is expected to rise in developed countries. Read more..

By MATTHEW SALTMARSH - International Herald Tribune

See what else happened on October 03, 2009