Japan backs watered down bank reform plan
Tokyo plans a milder program to purge bad loans and fight deflation, dropping a key proposal for stricter accounting. Bank of Japan loosens policy modestly as analysts call it no gain no gain. Government aid to jobseekers and a revival agency aim to ease layoffs while cutting $8 billion in R&D and IT taxes.
MENTIONED IN THIS ARTICLE
Japan
Tokyo
Bank of Japan
Junichiro Koizumi
Ethics officers rise in wake of corporate scandals
Washington reports a surge in ethics officers as about 100 firms hired them in three months amid Enron WorldCom and Global Crossing fallout. Ed Perry of the Ethics Officer Association notes a culture of silence prior to reforms, with NYSE World Bank and Olympic Committee among members. Enron bankruptcy followed a $618 million loss and $1.2 billion equity wipeout.
MENTIONED IN THIS ARTICLE
Washington
Enron
WorldCom
Global Crossing
Ed Perry
The
Ethics Officer Association
Tune
World Bank
New York Stock Exchange
Salt Lake City
Stocks Finish Modestly Higher Amid Optimism
Investors returned to Wall Street for a three week rally despite a Wal-Mart downgrade. The Dow rose 58.47 to 8427.41 as Nasdaq gained 26.19 to 1326.73 and S&P 500 added 8.56 to 890.71. Analysts noted improved sentiment after a period of pessimism and warned trading remained choppy ahead of key reports.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Wal-Mart
Wal Mart
la Tournees
Brian Bush
Equity Research
Dow
Dollar edges up against major rivals amid mixed trading
The dollar rose to 122.81 yen in late New York trading as investors anticipated data, with analysts noting momentum from the prior weeks. Wal-Mart slid after Goldman Sachs downgraded it to market performer, while Exxon Mobil climbed on higher oil prices and TXU beat earnings estimates.
MENTIONED IN THIS ARTICLE
New York
Dow Jones/AP
A.G. Edwards & Sons Inc
Wal-Mart
Goldman Sachs
Bush
Exxon Mobil
Citigroup
Ser
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