Updated: New York,
May 16 02:35
London,
May 16 07:35
Tokyo,
May 16 15:35
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Highlights from past issues
Busting the Chip Cartel U.S. antitrust prosecutors sent 15 executives from four companies to jail for price fixing of memory chips. There was a rub: The collusion failed. The Subprime in the Schoolhouse The mortgage contagion has hit state-run investment pools that handle $200 billion in funds for schools and cities. Taxpayers are in the dark. Ethanol's Deadly Brew Thousands of Brazilian sugar cane workers are injured and scores die each year in the rush to produce a fuel that Presidents Bush and Lula celebrate as a path to energy independence. Unsafe Havens U.S. money market funds have invested $11 billion in subprime debt, much of it managed by Bear Stearns. The Insurance Hoax Property insurers use secret tactics to cheat customers out of payments—as profits break records. McKinsey's advice to Allstate: Use "boxing gloves" instead of "good hands." The Ratings Charade Subprime mortgages have swept into the booming collateralized debt obligation market, often in CDOs awarded the highest grades by Standard & Poor's, Moody's and Fitch. The Poison in Your Pension Banks are selling the riskiest CDO portions, known as toxic waste, to public pensions and state trust funds. The Secret World of Modern Slavery Steel used to build cars and appliances in the U.S. starts with forced labor in Brazil. Playing the Odds Doctors disagree on how to treat the more than 230,000 men who will learn they have prostate cancer this year in the U.S. Santander Keeps It Simple
The provincial Spanish bank has become a global powerhouse by focusing on taking deposits and making loans. Crunch Time at Carlyle The private equity giant is grappling with the failure of its mortgage bond fund, a collapse in dealmaking and a dearth of new financing. It's turning to friends in the Middle East for help. Russia's Empire Builder Industrialist Oleg Deripaska is pumping billions into everything from cars to cement to tap a post-Soviet boom. The 40-year-old ballet fan may have to watch his step: The new man in the Kremlin was once an adversary. Busting the Chip Cartel U.S. antitrust prosecutors sent 15 executives from four companies to jail for price fixing of memory chips. There was a rub: The collusion failed. Shadow Over Samsung The indictment of the chairman of the nation's biggest chaebol for tax evasion raises new questions about Korea's culture of corruption. Egypt: Riding the Middle East Boom Investment bank EFG-Hermes, run by a self-proclaimed leftist and a cigar-chomping capitalist, is battling a raft of new competitors as investment and growth soar. |
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