Unemployment Rises as Hiring Slows in June AP
The June unemployment rate edged up to 5.9 percent as firms remained cautious about hiring amid slow growth and accounting scandals. Payroll gains were weak at 36,000, while average work hours rose 0.3 percent to 34.3 hours, signaling limited improvement in the labor market.
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Washington
Labor Department
Mark Zandi
Economy.com
aanGdanra
Ey Newmare
Duu
Qwest denies being investigated by federal authorities
Qwest Communications International denied reports it is the subject of a criminal probe by the U S Justice Department. The Wall Street Journal cited unnamed sources about a possible FBI and U S attorney inquiry alongside an ongoing SEC accounting probe.
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Denver
Qwest Communications International
TS. Justice Department
Wall Street Journal
Qwest
U.S. Attorney's Office
Federal Bureau of Investigation
Drake S. Tempest
Quest
Securities Exchange Commission
Congress
U.S. Attorney’s Office
Journal
Securities and Exchange Commission
Joseph P. Nacchio
Minnesota
Washington
Arizona
New Mexico
China vows crackdown on tax cheats amid revenue push
Premier Zhu Rongji blasted wealthy tycoons for dodging taxes, saying the super rich pay the least and China must curb tax evasion to fund government services. Analysts see this as a major step toward a more systematic revenue collection as deficits rise and corruption strains budgets.
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Hong Kong
Zhu Rongji
Staimland
Zhu
China
Wu Guoguang
Chinese University of Hong Kong
Wei Wei Po
Andy Xie
Morgan Stanley Asia Ltd
Xie
Asia
Xiang Huaicheng
Finance Ministry
Fake Chinese Harry Potter book stirs sales and legal concerns
The 198 page spoof titled Harry Potter and Leopard Walk Up To Dragon circulates in China with JK Rowling’s name on the cover. Publishers condemn the unauthorized work that imitates the famous characters including the Dursleys Hermione Granger and Draco Malfoy while Rowling works on the genuine fifth installment. The publisher notes unknown authorship and possible penalties.
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Bedjing
Wizard
JK. Rowling
Harry
Zhang Deguang
People’s Literature Publishing House
China
Rowling
Christopher Little Literary Agency
London
Associated Press
Dursleys
Hermione Granger
Ron Weasely
Draco Malfoy
Harry Potter
Dudley
Aunt Petunia
Mergers fail to wow markets amid fear of deals
In a week of stark contrasts two mega mergers illustrate a stalled market. Northrop Grumman will acquire TRW for 7.8 billion in stock while Vivendi Universal faces collapse under debt as Jean-Marie Messier resigns.
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Los Angeles
Northrop Grumman Corp
TRW Inc
Vivendi Universal
Jean-Marie Messier
Northrop Grumman- Trw
TRW
AOL Time Warner
WorldCom
Lou Altfest
Lt. Altfest & Co
United States
Thomson Financial
Tisks
Steve Baronoff
Merrill Lynch & Co
Nestle SA
Dreyer
Grand Ice Cream Inc
WorldCom crisis hits customers as rivals line up options
Large corporate clients face penalties to exit WorldCom contracts as many firms seek backup providers. Analysts note 20 percent can walk away if finances worsen, while 60 percent penalties loom for others. Consumers may see slower Web access as WorldCom handles over 40 percent of traffic. some customers already shift traffic amid layoffs of 17,000 workers and plans to emerge debt free or sell networks.
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WorksCom
Tem
WorldCom
Monlis
Jeffrey Kagan
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