By: Todd Knode
Today the House Select Committee on Energy Independence and Global Warming held hearings with a number of oil and gas company executives.  The topic: “probe the causes and solutions to America’s oil dependence.” Congress by its nature is a mixture of law and politics; laws are written and passed of course because of [...]

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By The Associated Press
THE ALLEGATIONS: Federal and state regulators accused American International Group Inc. of using deceptive accounting practices to mislead investors and regulators.
THE MOTIVATION: According to New York Attorney General Eliot Spitzer, ”This is a company that didn’t have to cheat. But once they began, they found it hard to stop.”
THE COST TO SETTLE: [...]

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(FDA) The FDA has approved the first blood test created to screen blood donors for the West Nile Virus. The Procleix WNV Assay, developed by Gen-Probe Inc., and marketed by Chiron Corporation, helps protect patients who receive blood and other such products against West Nile infection.

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The post-Hurricane Katrina petroleum-supply outlook improved somewhat on Friday as U.S. and European governments agreed to release 2 million barrels a day of oil and refined products from their reserves.

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After the market decline in 2000, 2001 and 2002, many taxpayers have incurred investment losses for worthless securities. Although they may not be able to recover their investment, they may be entitled to a tax deduction.

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(Reuters) NEW YORK - Dissident Morgan Stanley shareholders ratcheted up the pressure on Chief Executive Philip Purcell Thursday, calling for the company’s securities businesses to be spun off as a separate firm led by executives driven off during a recent upheaval.

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(Reuters) WASHINGTON - The U.S. Securities and Exchange Commission plans to release this month a long-awaited report on off-balance-sheet accounting of the sort that featured in the Enron Corp. collapse and other recent corporate scandals, said a top SEC official Tuesday.

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The Lane ReportFrom the Law Offices of Marc J. Lane
Recent Wall Street accounting scandals launched a wave of lawsuits by investors alleging corporate fraud as a result of purchasing stock at “inflated” prices. One appellate court decision significantly lowered the burden for plaintiffs to prove their cases by eliminating the need to show a causal [...]

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WASHINGTON (Reuters) - New York Attorney General Eliot Spitzer said on Thursday he had sued software company Intermix Media Inc. for bundling hidden “spyware” along with million of programs it gave away for free.

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(AP) ATLANTA - The Coca-Cola Co. reported an 11 percent drop in first-quarter profit, but still beat Wall Street expectations and saw its stock rise more than 3 percent. Shareholders, meanwhile, peppered the world’s largest beverage maker at its annual meeting Tuesday with questions about human rights abuses and water depletion.

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