Financial news on October 3rd, 2009
Business and Financial news
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..
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..
Allergan is suing the government, charging that restrictions on telling doctors about unapproved drug uses violates its free-speech rights. Read more..
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..
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..
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..
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..
Corus was seized by the Federal Deposit Insurance Corporation last month. Read more..
Albania’s economy is struggling to overcome the scars left by 40 years of brutal authoritarianism. Read more..
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..