Wholesale prices rise as energy costs surge in March
Inflation at the wholesale level jumped 0.7 percent in March driven by a spike in energy prices, while construction of new homes and apartments slumped 17.6 percent, the steepest drop in 14 years. The Commerce Department reported starts at a seasonally adjusted annual rate of 1.84 million in March, down from 4.24 million in February, surprising analysts.
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Washington
Commerce Department
U.S
Supreme Court tightens link requirement for securities fraud suits
The Supreme Court ruled that plaintiffs must show a clear link between alleged misstatements and a stock price drop to proceed with securities fraud suits, limiting claims against major firms like Enron. The decision, written by Justice Breyer, narrows the standard for proving corporate misconduct in investor lawsuits.
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Washington
Supreme Court
Ring
Duca Pharmaceuticals Inc
Schh Cts Enron Corp
Acela brake shortage halts high speed Amtrak fleet
Amtrak paused Acela service after finding millimeter sized defects in 300 of 1 440 disc brake rotors on the Acela fleet built by Bombardier and Alstom. Bombardier said only BU disc brakes are in stock and could delay restoring 20 trains. Officials warned no Acela service at least through Friday. one test run failed due to wheel misalignment. The outage follows calls to privatize Amtrak amid a 1.2 billion subsidy and investment package, with the Northeast Corridor service accounting for about 20 percent of Amtrak ridership.
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Washington
Amtrak
David Slack
Bombardier Ing
Tow Tong
Amirak
Servion
Bombardier
Alstinn SA
France
Millime
New York
Boston
Bush
Conge
ILA Senate
Northeast Corridor
David Laney
Union Station
Prosecution Tests Against Fired HealthSouth CEO Scrushy
Prosecutors outline case against Richard Scrushy, former HealthSouth CEO, alleging a 2.62 billion earnings overstatement via conspiracy and fraud. Defense seeks dismissal. Bowdre to hear motions while government faces challenges proving mail and money laundering counts.
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Birvangham
Ala
HealthSouth Corp
Richard Serushy
Pausday
Finance
Serushy
Ghgs
U.S. Histrict Dndee
Karen Bowdre
Vowdre
Ui Ternshy
Sarbines-Txley
Hesvalsny
Fernaty
Tial Din
Ilso
Ayers
Bowdre
Seavusky
Nirmingham
Goma
Finwdre
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