The government unveiled Tuesday its first rating of passenger cars’ resistance to rollover accidents, a measure of stability decried as too narrow by some in the auto industry. Continue reading U.S. Issues Rollover Ratings for Passenger Vehicles
DETROIT — Dow Corning Corp. and lawyers for women who sued the company over silicone breast implants want a judge to throw out a ruling they say could upset a complicated $3.2 billion settlement plan. Continue reading Dow Corning Says Judge’s Ruling Could Complicate Breast Implant Settlement
WASHINGTON — A big jump in energy prices helped push consumer inflation up 2.7 percent in 1999, the biggest increase in three years. But prices were relatively contained in most other areas, posting the best performance since the mid-1960s. Continue reading Wall Street Shrugs Off Inflation Fears
President Clinton renominated Alan Greenspan to another term as chairman of the Federal Reserve Tuesday, extending his strong authority over U.S. economic policy for another four years.
Greenspan, a 73-year-old Republican who took the reins at the central bank in 1987, said he had agreed to stay in the job in part because of the “unimaginable intellectual interest” of putting economic theory to the test in the financial markets. Continue reading Clinton Renominates Greenspan As Fed Chairman
DETROIT — The world’s two largest automakers announced new alliances with Internet companies Sunday, the latest in a string of deals between the online world and major corporations. Continue reading Automakers, Internet Companies Announce Online Partnerships
WASHINGTON — Nearly half the partners at accounting giant PricewaterhouseCoopers LLP reported having violated rules prohibiting them from owning stock in companies they audit, and many more such lapses went unreported, a review led by an independent consultant has found. Continue reading Review Finds Half of Partners at PricewaterhouseCoopers Violated Stock Rules
NEW YORK — Stocks were down across the board Tuesday in a broad-based slump triggered mostly by interest rate fears.
Paradoxically, Tuesday’s sell-off could convince the Federal Reserve to leave rates untouched when they gather Feb. 1. Continue reading Stocks Slump in Broad-based Sell Off
WESTBOROUGH — Power company New England Electric System (NEES) said Monday it had agreed to buy Eastern Utilities Associates in deal worth about $634 million, in the latest consolidation spurred by deregulation in the electricity industry.
In December, NEES said it would merge with National Grid Group, a privately owned British transmission company. In its latest deal, NEES will acquire Boston-based Eastern Utilities for $31 cash per share. Continue reading WESTBOROUGH — Power company New England Electric System
LONDON — Futures traders struggling to recover at least half of their money from Griffin Trading, the collapsed clearing house, face a new hurdle after fresh losses of up to $2 million emerged at the firm’s head office in Chicago. Continue reading Funny Business at Chicago’s Griffin Makes Waves in Europe and Beyond
WASHINGTON — Texaco Inc. will pay $3.1 million to 186 female employees who the U.S. Labor Department said were paid less than men doing similar work for the oil giant, Texaco and government officials said Wednesday. Continue reading Texaco to Pay Hefty Settlement to Female Employees