Confidence sinks as war fears hit February data
Consumer confidence slid to 64.0 in February from 78.8 in January, the lowest in nearly a decade amid jitters over war with Iraq. The Dow dropped to a four-year low before rebounding. Nasdaq rose modestly. Housing stayed strong with January existing home sales at a record annual rate of 6.09 million, aided by mortgage rates near 5.92 percent.
MENTIONED IN THIS ARTICLE
New York
Traq
Conference Board
Iraq
Josh Feinman
Deutsche Asset
National Association of Realtors
Decem
Ber
David Lereah
Association
United States
Ruary
Standard & Poor
Former Qwest execs charged in $33 million fraud scheme
Four former Qwest Communications executives were indicted in Denver on 12 counts for creating over $33 million in revenue by falsely reporting a purchase order to Arizona School Facilities Board and disguising the action. The scheme violated SEC rules as Qwest promised an 18 month to two year pay plan but booked all revenue upfront. Arrest warrants issued for Grant P Graham, Thomas W Hall, John M Walker, and Bryan K Treadway. The case follows ongoing Justice Department and SEC probes with Ashcroft vowing to punish financial falsification.
MENTIONED IN THIS ARTICLE
Washington
Qwest Communications
John Ashcroft
Denver
New Securities and Exchange Commission
William Donaldson
Ashcroft
U.S. District Court
Qwest
Arizona School Facilities Board
SEC
Justice Department
Grant P Graham
Evergreen
U.S
Donaldson
Lef
IRS Warns of Phony Refund Schemes This Tax Season
The IRS released its dirty dozen tax scams with offshore transactions and identity theft at the top. Illicit offshore accounts can cost billions. reporting is due by April 15 to avoid civil penalties. Identity theft schemes target taxpayers via tax preparers and fake bank notices. other scams include fake checks and false home based business deductions.
MENTIONED IN THIS ARTICLE
Internal Revenue Service
IRS
Sam Serio
Baltimore
Canine questions prompt quick candid reader replies
Readers weigh in on pets and etiquette in the Ask Jerry column. Contributors from Texas and Iowa discuss dog like cats, preferred breeds, and the quirks of feline lap dogs. A safety note warns about public restroom paper towel disposal and potential needle exposure.
MENTIONED IN THIS ARTICLE
Jerry
Jay
Castleton VT
Enid
Dubuque
Iowa
Anya
Jerry Romansky
Washington, D.C
Earthlink.net
Stocks Rise After Consumer Confidence Dips Broad gains amid war nerves
Wall Street moved higher as investors shifted to bargain buying despite a February consumer confidence drop to 64.0 from 78.8 and a four month low. The Dow added 0.7 percent to 7909.50 while the Nasdaq rose 0.5 percent to 1328.98 and the S&P 500 gained 0.7 percent to 838.57.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Bryan Piskorowski
Prudential Securities
Dollar mixed but strong versus euro after Iraq war hopes
The dollar slipped on weak US data then rebounded amid hopes a war with Iraq could be avoided. By late New York trade the euro traded around 1.0769 dollars, while the dollar stood about 117.25 yen as sentiment shifted.
MENTIONED IN THIS ARTICLE
New York
Dow Jones/AP
Iraq
Marc Chandler
HSBC
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Oscar Gonzalez
John Hancock Financial Services
Boston
Steve Hammack
J.P. Winchester
Ind
J.P
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Lauren
Dale
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Maine
Harley
Lauren T. Willow Park
Dale S
Arlington
Tonk
Kaitlyn
Jerry Jerry Romansky
Tariq Aziz
U.N
Saddam Hussein
CBS
Britain
Spain
U.N. Security Council
Hans Blix
Mohamed ElBaradei
France
Germany
Russia
North Korea
Korean Peninsula
Japan
H&r Block
Home Depot
DuPont
Honeywell International
American Eagle Outfitters
New York Stock Exchange
Europe
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