Lay winds up testimony in Enron fraud trial
In Houston Kenneth Lay ends six days on the stand by declaring love for Enron and its employees. He defends decisions made in real time and blames former CFO Andrew Fastow for the collapse while clashing with prosecutor John Hueston over accountability. Lay and Skilling face allegations of deceiving investors and workers about Enron’s true finances amid bankruptcy and a stalled trial.
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Verizon earnings push stocks higher in volatile session
Solid earnings from Verizon Communications lifted markets Tuesday helping the Dow notch its best close in six years even as oil neared record highs Sirius Satellite Radio posted a smaller than expected loss amid subscriber gains The Fed signaled possible end to rate hikes fueling late day volatility despite strong consumer and industrial data
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