Google Online Office Suite Gets Closer BetaNews
Google took one step closer to launching an oft-rumored online Office suite Wednesday by combining its Writely word processor with Google Spreadhseets to form Google Docs & Spreadsheets - a new offering that analysts say is only a start. In order to make the Web applications easier to use, Google has reworked both Writely and Spreadsheets to use a single login and a unified listing of documents. Docs & Spreadsheets requires no download and works within a Web browser, with the ability to export documents into a number of offline formats. "The combination of documents and spreadsheets is a natural one. I think of documents as right-brain (a blank canvas for free-form writing) and spreadsheets as left-brain (a structured framework for lists and data)," wrote product manager Jen Mazzon on the new D&S blog. "Different people use one or the other for the same thing. For example, if you were compiling a shopping list, would you prefer to do it in a document or a spreadsheet? I'd use a document ... you might use a spreadsheet." Perhaps most importantly, the service is completely free of charge. This, says Jupiter Research senior analyst Joe Wilcox, is what should concern Microsoft, even if Google is unlikely to affect sales of the company's ubiquitous Office suite anytime soon. "The bundle offers features that are fairly commoditized anyway. I see definite appeal for some consumers and even some small businesses. But I also would contend those potential Google Docs & Spreadsheet users probably wouldn't buy Office anyway," explained Wilcox. "Google is just playing with Microsoft's (hive) mind. Scaring the troops. Sleight-of-handing the managers," remarked fellow Jupiter analyst David Card. "Consumers don't use spreadsheets. No thinking IT manager would sign off on replacing Excel with a Web-based spreadsheet." But Wilcox contends that Google is unlikely to stop with just word processing and spreadsheets, and its arsenal of consumer services could be pulled together to form a compelling productivity suite. "I absolutely see the makings of a consumer Web-based productivity suite with Google products Calendar, Docs, Gmail, Picasa and Spreadsheets. Picasa would be the equivalent of PowerPoint, as I presume that the presentations most consumers make are photo slideshows for family, friends and some other folks. I know of small businesses that have swapped out Outlook for Google Calendar and Gmail." That doesn't mean, however, that Microsoft should attempt to compete with its own online productivity tools, Wilcox says. "If there is Google competition here, for now, it's more the fear Google might have or will have an Office competitor...Microsoft should worry more about Microsoft and less about Google."
By Nate Mook, BetaNews
MS Office is the clear winner Hindustan Times
Google's Free Web Services Will Vie With Microsoft Office Wall Street Journal (subscription)
Playfuls.com - International Herald Tribune - NEWS.com.au - National Business Review - all 253 news articles »

AT&T Gets Closer to BellSouth Purchase

WASHINGTON - AT&T Inc. cleared a major hurdle in its proposed
$78.8-billion purchase of BellSouth Corp. when the Justice
Department blessed the deal, which would create a phone goliath
that dominates the market in California and 21 other states. By
Jim Puzzanghera.
http://email.latimes.com/cgi-bin1/DM/y/eBA...Io30G2B0HwUi0E1

DreamWorks

Billionaire Paul Allen, who was instrumental in the launch of
DreamWorks SKG, said he is winding down his bumpy 12-year
partnership with Hollywood's "dream team." By Lorenza Muñoz.
http://email.latimes.com/cgi-bin1/DM/y/eBA...Io30G2B0HwUj0E2

Leaders at CNet, McAfee Are Out

The leaders of two technology companies stepped down amid the
widening scandal over stock option practices, moves analysts said
suggested corporate boards were rushing to clean house before
potential crackdowns by federal regulators or prosecutors. By Josh
Friedman.
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Wendy's Takes a Big Loss on Sale of Baja Fresh

Talk about an investment that went south. The price Wendy's paid
for the chain in 2002: $275 million. The price it's getting for
Baja Fresh now: $31 million. By David Colker.
http://email.latimes.com/cgi-bin1/DM/y/eBA...Io30G2B0Hwtc0Eu

Looking Up Again in San Francisco

SAN FRANCISCO - Five years after being laid low by the spectacular
flameout of the dot-com boom, San Francisco's corporate office
market is rising again. By Roger Vincent.
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Tanker Becomes Air Force's No. 1 Priority

WASHINGTON - After more than a decade of focusing on its prized
F-22 fighter program, the Air Force announced that it was changing
its top acquisition priority to a fleet of 450 aerial refueling
tankers, a star-crossed program that landed one Pentagon
procurement official in jail last year. By Peter Spiegel.
http://email.latimes.com/cgi-bin1/DM/y/eBA...Io30G2B0Hwte0Ew

Nobel for anti-poverty pioneers BBC News
Muhammad Yunus of Bangladesh and the Grameen Bank have been jointly awarded the 2006 Nobel Peace Prize.Mr Yunus, an economist, founded the bank, which is one of the pioneers of micro-credit lending schemes for the poor, especially women, in Bangladesh. Mr Yunus, 66, said he would use the 10m Swedish kronor ($1.35m) prize money to "find more innovative ways" to help the poor launch businesses. He said he was delighted at the news and proud of the bank's achievement. "I'm very very happy. It's a great honour for us and for Bangladesh. It's a recognition of our work," he told the BBC Bengali service. "As a Bangladeshi, I'm proud that we have given something to the world. Our work has now been recognised by the whole world. "

Surprise choice
The winners were revealed by the Nobel committee chairman, Ole Danbolt Mjoes, in Oslo. Mr Yunus set up the bank in 1976 with just $27 from his own pocket. Thirty years on, the bank has 6.6 million borrowers, of which 97% are women, according to the Grameen website. Mr Yunus is expected to pick up the award and prize money during a ceremony in Oslo in December.

Gaming firms exit US for just $2 BBC News
Online gaming firm Sportingbet has sold most of its US business for $1 (53p) hours before a law was passed outlawing internet gambling across the country. Rival Leisure & Gaming has followed suit, selling its US operation to a new firm set up by its chief executive. But the firm said the deal may breach market rules and the London Stock Exchange has launched an investigation. On Friday, President Bush signed into law an act making it a crime to accept proceeds from online gaming. Investors took the signing of the bill badly, with shares in gaming firms - which have been devastated since the law was announced - continuing to fall. Sportingbet lost 10% of its value on Friday while its rival Partygaming saw its stocks slip 4.5%.

Sale frenzy
The imminent passage of the legislation has led to some dramatic corporate manoeuvring as affected firms seek to limit their US liabilities before the new laws came into force. World Gaming called in the administrators on Friday after agreeing to cease its US operations and most of its directors have resigned. Meanwhile, Empire Online, a company which offers marketing services to the internet gaming industry, said it was immediately ending all business in the US - where it earns 65% of its revenue. Sportingbet has sold its US sports betting and casino businesses to Jazette Enterprises for the nominal sum. Leisure & Gaming, meanwhile, has hastily agreed to sell its US business to a newly formed company headed by chief executive Alistair Assheton, who has resigned from the business. The AIM-listed firm said it had sanctioned the sale without prior shareholder approval since it would avoid about $6m in liquidation costs and it believed this was in investors' interests. But it admitted the transaction - which it said would enable the firm to continue operating and would be put to a shareholder vote in due course - may "constitute a technical breach" of stock market rules. The firm's shares were suspended after its nominated financial adviser, Altium Capital, resigned. The London Stock Exchange said it would investigate the circumstances surrounding the sale. "We will fully investigate any apparent rule breaches and I can confirm we are looking at this case," a spokesman said. Several gaming firms, including Partygaming and 888 Holdings, had already said that they would stop accepting bets from US residents once the act becomes law.

'Fantastic business'
Sportingbet had been reviewing its US business since its former chairman Peter Dicks was arrested in September. Though Mr Dicks has since been released, the arrest was part of a series of moves made by US authorities trying to discourage online gambling operators. State officials in Louisiana had issued a warrant accusing him of "gambling by computer" but a New York court refused to sanction Mr Dicks' extradition to Louisiana. "We are saddened to have to dispose of such a fantastic business as a result of political actions in the US Congress," said Andrew McIver, the firm's chief executive. "The sale, however, prevents significant closure costs which would have been both expensive and time consuming." Sportingbet said it would now focus on developing its business in Europe and Australia. It will retain its Paradise Poker site, but will stop accepting US cash later on Friday.

Legal clarity
US lawmakers took the gambling industry by surprise when they agreed sweeping measures criminalising the transfer and handling of proceeds from online gambling earlier this month. Gambling on sports events was already illegal in most US jurisdictions. But the scope of existing law governing the gambling industry was considered to be unclear and gaming firms promoted their businesses there on the expectation that their operations would be left alone. US lawmakers are concerned that internet gambling has been fuelling social problems, such as debt and addiction, and could act as a magnet for criminal activity.

Air America Parent Files for Chapter 11

Red ink finally got the better of the nation's blue-state radio
network. By Claire Hoffman.
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NBC Weighs Down Profit at GE

General Electric posts a 6.1% gain in earnings despite a downturn
at its entertainment unit. Its costly new TV shows have performed
weakly. By Lorenza Munoz.
http://email.latimes.com/cgi-bin1/DM/y/eBA...Io30G2B0HxCo0Eu

Hospital Sues Blue Cross for Payments

A class-action lawsuit filed Friday on behalf of all California
hospitals accused Blue Cross of California of routinely violating
state law by refusing to pay hundreds of hospitals statewide for
patient care it authorized. By Lisa Girion.
http://email.latimes.com/cgi-bin1/DM/y/eBA...Io30G2B0HxCp0Ev

Microcredit Idea Inspires Programs Worldwide

Nobel Peace Prize laureate Muhammad Yunus was trained in economics
but is something of an engineer in his day-to-day work, building
bridges between the developed and developing worlds. By Evelyn
Iritani.
http://email.latimes.com/cgi-bin1/DM/y/eBA...Io30G2B0HxCq0Ew

Filling Theater Seats but Not Movie Jobs

As Hollywood goes after the Latino American market, already known
for its fervent filmgoers, the effort is hurt by a lack of
executives and creative professionals from the ethnic group. By
Lorenza Muñoz.
http://email.latimes.com/cgi-bin1/DM/y/eBA...Io30G2B0HxDy0EV

Wal-Mart Joins List of Stores Shelving Layaway Plans

One of the last to offer the 1920s-era method, the retailer says
few use it. Shoppers without credit cards may suffer. By Abigail
Goldman.
http://email.latimes.com/cgi-bin1/DM/y/eBA...Io30G2B0HxDz0EW

Investors' Focus Shifts to Growth

Many pros see a return to the star blue-chip stocks of the '90s.
After badly lagging, some are deemed good buys. By Tom Petruno.
http://email.latimes.com/cgi-bin1/DM/y/eBA...Io30G2B0HxD10EJ

Oil Tax Campaign a Cash Guzzler for Both Sides

More than $107 million has been raised for and against Proposition
87, a state ballot record. By Marc Lifsher.
http://email.latimes.com/cgi-bin1/DM/y/eBA...Io30G2B0HxE20Ef

UnitedHealth in Shake-Up Over Options

Grants were "likely backdated." The CEO, a director and the firm's
top lawyer are leaving. By Lisa Girion.
http://email.latimes.com/cgi-bin1/DM/y/eBA...Io30G2B0HxE30Eg

Shoots on Location in L.A. on the Rise

"Ugly Betty" is helping the Los Angeles entertainment economy look
good. By Richard Verrier.
http://email.latimes.com/cgi-bin1/DM/y/eBA...Io30G2B0HxE40Eh

'Grudge 2' Takes Hold of No. 1 at Box Office

The horror sequel gives Sony a record 12th top seller this year.
Warner's "Departed" is No. 2. By Josh Friedman.
http://email.latimes.com/cgi-bin1/DM/y/eBA...Io30G2B0HxE50Ei

Group Accuses Jordan of Failing to Enforce Labor Rights

The nation is not living up to promises in a trade agreement with
the U.S., the organization alleges. By Evelyn Iritani.
http://email.latimes.com/cgi-bin1/DM/y/eBA...Io30G2B0HxE60Ej

Major Tower Planned in L.A.

Developer Robert F. Maguire said that he planned to build a
high-rise office building in downtown Los Angeles, the first
significant addition to the city's skyline in 14 years. By Roger
Vincent.
http://email.latimes.com/cgi-bin1/DM/y/eBA...Io30G2B0HxWB0Ez

Disney Cleans Plate of Junk Food

Concern for kids' health will spur new menus at theme parks and
alter licensing tie-ins. By Joseph Menn.
http://email.latimes.com/cgi-bin1/DM/y/eBA...Io30G2B0HxWC0E1

Time Warner Crunches the Numbers

The cable firm aligns its channels as it begins the challenge of
integrating Comcast and Adelphia. By James S. Granelli.
http://email.latimes.com/cgi-bin1/DM/y/eBA...Io30G2B0HxWD0E2

Iceland begins commercial whaling BBC News website
Iceland has announced it is to resume commercial hunting of whales.Icelandic ships will take nine fin whales, an endangered species, and 30 minke whales each year. In a statement, the fisheries ministry said the nation was dependent on living marine resources, and would keep catches within sustainable limits. Norway is the only other country to hunt commercially; most are bound by a 20-year moratorium. Currently Iceland hunts minkes for "scientific research". The scientific plan will conclude at the end of the 2007 season, the government said. The announcement has angered conservation groups and anti-whaling nations, with some talking of a legal challenge.

'Sustainable' catch
The fisheries ministry said hunting could begin as early as next week, and suggested the meat may be exported, which could prove a contentious suggestion as the trade is heavily restricted under international law. Iceland maintains local stocks are high enough to permit some hunting, despite the endangered status of the fin. "The total stock size of central and north Atlantic minke whales is close to 70,000 animals, of which around 43,600 are in Icelandic coastal waters," said the government's statement. "The number of fin whales in the [area] is estimated at around 25,800 animals. "The catches are clearly sustainable and therefore consistent with the principle of sustainable development."

Whales and fish
Rumours of a resumption have been circulating for some weeks, and a local company Hvalur hf has, according to newspapers, been outfitting a processing plant and staffing a whaling ship. The resumption will be greeted with dismay by conservation groups, alarmed by the passing of the first pro-hunting resolution in 20 years at this year's International Whaling Commission (IWC) meeting. "We are surprised and disappointed," said Arni Finnsson from the Iceland Nature Conservation Association (Inca). "There is no market for this meat in Iceland, there is no possibility to export it to Japan; the government appears to have listened to fishermen who are blaming whales for eating all the fish. "This decision is giving the finger to the international community." The Icelandic government had become frustrated with IWC negotiations on the Revised Management Scheme (RMS), a protocol designed to re-introduce commercial hunting under strict international catch limits, said Rune Frovik from the High North Alliance, a group representing whalers, sealers and fishermen in high latitude countries. "When Iceland rejoined the IWC in 2002, they said they would not resume commercial whaling before 2006; they also said they would not resume as long as there was progress on the RMS. "But at this year's IWC meeting, the process stopped - there was no progress."

Legal moves
Iceland gave up commercial hunts when the global moratorium was introduced in 1986, and stopped all whaling in 1989. Having left the IWC in 1992, it rejoined in 2002 stating a "reservation" to the moratorium; and the circumstances surrounding its rejoining may leave its decision to resume commercial hunting open to legal challenge. Countries stating a reservation at the moratorium's inception are allowed to hunt commercially, though Norway is the only one that does. "Anti-whaling nations at the time Iceland rejoined said the rejoining was illegal because it hadn't taken the reservation when it left the IWC," said Sue Lieberman, director of the global species programme at WWF International. "The view of anti-whaling countries will, I predict, not change - they believe that Iceland's reservation is not legal - so we, and I believe they, will argue that Iceland's commercial whaling is in contravention of the IWC." Dutch whaling commissioner Guiseppe Raaphorst confirmed that view. "We never recognised [Iceland's] reservation," he said. "You cannot step down from a convention and then rejoin it under a reservation - that is not possible under international law, and there will be a legal challenge." Mr Raaphorst doubted that Iceland would be able to export the meat. "They would not be allowed to export meat because it is prevented under the Convention on the International Trade in Endangered Species (Cites)," he said. Cites regulations do not prevent Iceland from exporting whalemeat because it has a formal exemption under the treaty, but virtually every country is banned from importing it. Iceland recently announced plans to export meat from its scientific whaling programme to the Faroe Islands, whose government maintains it is exempt from Cites regulations. Icelandic and Norwegian whalers would like in the long run to export to Japan, the world's biggest market for whale meat.
By Richard Black, Environment Correspondent < Richard.Black-INTERNET@bbc.co.uk >

Late Enron boss's verdict quashed BBC News
A US court has ruled that the conviction of former Enron boss Kenneth Lay cannot stand as he died before he was able to appeal against the verdict. He died in July, less than two months after his conviction for fraud and conspiracy related to Enron's collapse. A US district judge ruled that the case against him should be wiped out as a dead defendant could not be punished. The US energy giant went bankrupt in 2001 with debts of $31.8bn (£18bn), leaving 4,000 people out of work. The verdict is likely to hamper the government's efforts to recover $43.5m in cash and other financial assets which prosecutors claim that Mr Lay stole from Enron shareholders. The authorities can still pursue these claims in a civil court but will have to compete with other litigants, which include ex-investors and employees of the energy giant.

Black hole
Mr Lay's lawyers argued the conviction should be overturned following his death, citing a 2004 appeals court ruling that the state could not punish a dead defendant or their estate unless their case had been heard on appeal. Mr Lay was chairman of the Texas firm at the time of its spectacular collapse in 2001 after a huge black hole was uncovered in its finances. He was found guilty of being aware of and doing nothing to prevent a massive fraud at the company, which knocked $60bn of its market value. Mr Lay's co-defendant, former Enron chief executive Jeffrey Skilling, is due to be sentenced on Monday. Andrew Fastow, the firm's former finance director who gave evidence against Mr Lay and Mr Skilling in their fraud trial, was sentenced to six years in jail earlier this month.

Chicago futures exchanges uniting in $8-billion deal

The nation's two largest futures exchanges announced plans Tuesday
to join forces in a deal that reflects the growing role of trading
in complex financial instruments tied to interest rates, foreign
currencies and even the weather. By Walter Hamilton.
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Yahoo sees net income drop 38%

Yahoo Inc. reported a second straight quarter of disappointing
financial results Tuesday, but gave investors some hope for a
rebound. The Internet portal reported an increase in third-quarter
sales. By Joseph Menn.
http://email.latimes.com/cgi-bin1/DM/y/eBA...Io30G2B0Hxib0EG

More homeowners are going into default

The number of Californians who are significantly behind on their
mortgage payments and at risk of losing their homes to foreclosure
more than doubled in the three months ending Sept. 30, providing
the latest evidence of trouble in the housing market, figures
released Wednesday show. By David Streitfeld and Martin Zimmerman.
http://latimes.com/business/la-fi-foreclos...y?track=tottext

Actors and writers seek fair Web deals

Hollywood nearly every week trumpets another round of ventures
making TV series and films accessible on the Internet. But with
each splashy announcement, resentment grows among writers and
actors who believe studios are ducking the issue of how to
properly pay them when their work is viewed via the Web. By
Richard Verrier.
http://latimes.com/business/la-fi-newmedia...y?track=tottext

Apple's profit is up on Ipod and Mac sales

The i's have it: Intel and iPod helped drive quarterly sales and
profit up sharply at Apple Computer Inc. as the company continued
to dominate portable entertainment and gained traction against
rival computer makers. Sales were helped by a broad shift in the
PC industry away from corporate buyers and toward average people.
By Dawn C. Chmielewski.
http://latimes.com/business/la-fi-apple19o...y?track=tottext

Rents jump in the state; the market tightens

Playing catch-up with the recent run-up in home prices, rents in
large apartment complexes posted strong gains across California in
the third quarter, according to data to be released today. The
Southland remains the most expensive area in the West as occupancy
climbs to 96.2% By Annette Haddad.
http://latimes.com/business/la-fi-rents19o...y?track=tottext

Good chemistry in biotech deals

The biomedical industry has become one of California's
fastest-growing industries, according to a report released
Thursday. Part of the trend is a series of alliances between
start-ups and bigger players that need to keep their drug
development pipelines filled with new products. By Daniel Yi.
http://latimes.com/business/la-fi-biotech2...y?track=tottext

The Dow finishes above 12,000 for first time

The Dow Jones industrial average passed another milestone
Thursday, closing above 12,000 for the first time as investors
showed their confidence in America's old-line companies. By E.
Scott Reckard.
http://latimes.com/business/la-fi-markets2...y?track=tottext

China bank raises $19bn in float BBC News
China's biggest lender, Industrial and Commercial Bank of China, has raised $19bn in the world's largest stock market floatation.The shares, which are due to begin trading on 27 October, will be listed in Hong Kong and China. The sale was heavily oversubscribed as investors tried to tap into one of the world's fastest growing economies. China has been overhauling its banking system, toughening up regulation in an effort to cut corruption and bad loans.

Growth potential
The government has bought back billions of dollars of bad loans to help banks clean up their balance sheets and make them more attractive to investors. Analysts said the potential for growth of consumer and corporate lending in China was massive as wage levels increase and company profits rise. Industrial and Commercial Bank of China was set up by the Chinese government in 1984 and has 21,000 branches, 360,000 staff and 150 million customers. In a recent statement, it said it expected to earn a net profit of $6bn this year, compared with $4.3bn in 2005. The previous record for the world's largest initial share flotation was $18.4bn, which was raised by Japan's NTT Mobile Communications Network in 1998.

Sony unveils net service for PS3 BBC News
Sony has unveiled details of the PlayStation 3s online service and the list of 21 games available at launch. The PlayStation Network will let PS3 owners play other gamers, chat, download extras, store images, video, or music and browse the net. The network will be free to play or chat but users must pay to get downloadable games and other extras. The PS3 is due to launch on 11 November in Japan, 17 November in North America and March 2007 in Europe.

Title race
While Sony is the undisputed console king with more than 105 million PS2s sold globally, rival Microsoft has set the pace online with its Xbox Live service. About 60% of Xbox 360 owners use its online system and pay a small annual fee to get access. By making basic functions such as playing and chatting free Sony hopes to attract large numbers of PlayStation 3 owners. The navigation system for the PlayStation Network is based on that used on Sony's handheld game gadget - the PSP. This navigation system has a "Friends" area in which users manage online game play. In this area they can see if friends are online and what games they want to play. It also includes a basic social networking system that lets people swap text-based messages. As well as giving users access to online gaming and the net, this browsing system gives access to any images, music or movies stored on the device. This multimedia content can be taken from the net, bought from the Sony PlayStation store or loaded via memory sticks or USB. Via the store PS3 owners will be able to buy downloadable games, extras for games, movies and music. Downloadable games are expected to cost about $15. A custom built version of the Opera browser is included in the PlayStation 3 for using the net. Sony has also revealed the list of 21 titles that will be available for the PS3 when it launches. The line-up includes a wide mix of titles - everything from sports to driving games and first person shooters. The top tier titles for the PS3, such as Sony's own Resistance: Fall of Man, are expected to cost $59.99. In a bid to show off the high-definition abilities of the PS3 Sony said that the first 500,000 consoles sold in North America will include a free copy of the Talladega Nights: The Ballad of Ricky Bobby comedy that stars Will Ferrell.

Scrambling to save trade perks

The Bush administration has a prescription for fighting coca
growing, sidelining Venezuelan President Hugo Chavez and saving
thousands of jobs in Latin America: extending free trade for
Andean nations. By Chris Kraul.
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The game isn't over for a 'Halo' movie

Microsoft Corp. said Friday that it would move forward with a
movie adaptation based on its popular video game "Halo" after
financial backers Universal Pictures and 20th Century Fox backed
out of the project. By Dawn C. Chmielewski.
http://email.latimes.com/cgi-bin1/DM/y/eBB...Io30G2B0HyPl0Ej

Yahoo tests the power of packaging user content

Yahoo Inc. may have missed buying YouTube Inc., but the Internet
giant is trying to cash in on the amateur-video craze by layering
slick TV-style programming on top of it. By Chris Gaither.
http://email.latimes.com/cgi-bin1/DM/y/eBB...Io30G2B0HyRo0EY

YouTube users keep dialogue running
http://email.latimes.com/cgi-bin1/DM/y/eBB...Io30G2B0HyRp0EZ

'Prestige' materializes at No. 1; 'Flags' flutters in third

Walt Disney Co.'s thriller "The Prestige" about rival magicians in
London's Victorian era worked some box-office magic as the top
performer this weekend, while director Clint Eastwood's World War
II drama "Flags of Our Fathers" finished a disappointing third. By
Claudia Eller.
http://email.latimes.com/cgi-bin1/DM/y/eBB...Io30G2B0HyRq0Ea

Shanghai scandal 'implicates 50' BBC News
More than 50 people have been detained in Shanghai's widening pension fund corruption scandal, a Beijing-funded Hong Kong newspaper has reported.Several senior Shanghai officials and businessmen have already been implicated in the alleged misuse of the multi-million dollar fund. One of the country's richest men, Zhang Rongkun, was arrested at the weekend. On Sunday, President Hu Jintao said the Communist Party was determined to root out corruption. "We are stepping up efforts to improve the rule of law and a culture for clean and honest government, and strengthen the checks and supervision on power," he said. He also appealed for party unity at a rare joint public appearance with his predecessor Jiang Zemin. The first high-profile head to roll in the pensions scandal was Chen Liangyu, an ally of Mr Jiang who was dismissed from his post as chief of the Communist Party in Shanghai last month. Other leading figures tainted by the case include the head of Formula One in China, Yu Zhifei, who has been questioned by the authorities, and the country's chief statistician Qiu Xiaohua who was dismissed from his post.

Anti-corruption investigation
Zhang Rongkun, believed to be the 16th richest man in China with a $600m fortune, was arrested by "relevant law enforcement authorities", his own firm Fuxi Investment said in a brief statement on Saturday.Hong Kong's Ta Kung Pao newspaper reported on Monday that more than 50 other businessmen and government officials were being held over the scandal. It did not give any further details. As the anti-corruption investigation continues, it seems likely the number of people involved will grow still further, the BBC's Quentin Sommerville in Shanghai says. More than 100 central government investigators have been sent to Shanghai to investigate money that has disappeared from the city's 10 billion yuan ($1.25 billion) social security fund. The funds were allegedly used to make illegal loans and investments in real estate and other infrastructure deals. The corruption scandal demonstrates the problems facing those who wish to end graft in China, our correspondent says. The courts do not operate independently and almost all of those detained in Shanghai have not been seen or heard of since, he adds. There is little independent oversight. Auditors and corruption investigators are limited and the usual checks and balances that expose corruption - such as a free press and regular open elections - do not exist.

Losses increase 30-fold at Ford BBC News
Struggling US car firm Ford has seen its third quarter losses widen dramatically, hit by the expense of its ongoing cost-cutting plan. Ford said its loss in the three months until the end of September totalled $5.8bn (£3bn), almost 30 times higher they were at this time last year. Leaving out the provision for its cost cuts - including 45,000 redundancies - the loss shortened to $1.2bn. Ford added that an error meant it had to restate all earnings since 2001. The carmaker said the accounting mistake had been caused by certain transactions in its consumer credit division being wrongly reported. Its turnover during the third quarter was down 6% on a year earlier to $32.6bn.

'Clearly unacceptable'
Ford's newly appointed chief executive, former Boeing executive Alan Mulally, said the results were "clearly unacceptable". "We are committed to dealing decisively with the fundamental business reality that customer demand is shifting to smaller, more efficient vehicles," he said. Like fellow "Big Three" US car firms General Motors (GM) and Chrysler, Ford has seen itself handicapped in recent years by an over-reliance upon thirsty pick-up trucks and sports utility vehicles. Sales of such cars have declined as petrol prices have risen sharply in the US. Instead a growing number of US drivers are switching to smaller engine or hybrid cars, where Asian firms such as Toyota lead the market, and Ford, GM and Chrysler have been slow to catch up. "Our focused priorities are to restructure aggressively to operate profitably at lower volumes, and to accelerate the development of new, more efficient vehicles that customers really want," added Mr Mulally.

Factory closures
Ford aims to achieve 45,000 job cuts in the US and Canada by 2008, including 14,000 white-collar positions. The jobs will go as the company closes 16 North American factories by 2008. It hopes the measures will help it reduce annual costs by about $5bn. Ford's European operations are unaffected by the closures or job cuts.

Enron's boss due to be sentenced BBC News
Sentencing of former Enron boss Jeffrey Skilling is due to start later on Monday for his role in the giant fraud that led to the firm's 2001 collapse.Skilling, who back in May was found guilty on 19 counts including fraud, conspiracy and insider trading, could receive 20 to 30 years in prison. The former Enron chief executive was tried and convicted together with the firm's former chairman Kenneth Lay. Mr Lay has since died and his own convictions have been quashed.This is because Mr Lay, who died of a heart attack in July, passed away before he was able to appeal against the verdict. In addition to a long prison sentence, Mr Skilling faces a multi-million dollar fine.

'Major-league sentence'
Mr Skilling's lawyer has already asked that his client be allowed to remain free pending appeal, or to at least not have to go to prison before 27 November - after the Thanksgiving holiday.The scandal at the one-time energy giant left 21,000 people out of work, and shook corporate America, when the firm went bankrupt in 2001 with debts of $31.8bn. Mr Skilling was found to have orchestrated a series of loss-making deals and financial schemes to try and hide debts from investors. Analysts do not expect him to be shown much leniency. "I think we're going to see a major-league sentence," said white-collar crime expert Kirby Behre. Former Enron staff hope this will be the case. "Jeffrey Skilling just totally destroyed our corporation," said Enron retiree Charles Prestwood. "He didn't tell us the truth...he was just a bad businessman." Mr Skilling's sentencing could roll over into Tuesday.

Iraqi officials 'stole millions' BBC News
A former Iraqi minister has said that officials in the former interim government stole about $800m (£425m) meant for buying military equipment. Former Finance Minister Ali Allawi told the US CBS network that about $1.2bn had been allocated for new weapons. About $400m was spent on outdated equipment and the rest stolen, he said. Mr Allawi said the UK and US had done little to recover the money or catch the suspects, who were "running around the world". "We have not been given any serious, official support from either the United States or the UK or any of the surrounding Arab countries," he said. "The only explanation I can come up with is that too many people in positions of power and authority in the new Iraq have been, in one way or another, found with their hands inside the cookie jar. "And if they are brought to trial, it will cast a very disparaging light on those people who had supported them and brought them to this position of power and authority."

'Pay-offs'
The head of the Iraqi Commission on Public Integrity, Judge Radhi al-Radhi, said he had obtained arrest warrants for a number of officials in October 2005, but almost all the suspects fled the country. None of the officials have been named. But CBS's 60 Minutes programme also played an audio recording of Ziad Cattan, who was in charge of military procurement at the time, apparently talking in Amman, Jordan to an associate about pay-offs to senior Iraqi officials. Mr Cattan denied any wrongdoing and said the recording had been doctored. Iraqi investigators are currently looking into more than 1,000 corruption cases involving more than $7bn.

'No building halt' at Ground Zero BBC News
New York Mayor Michael Bloomberg has said construction work will continue at Ground Zero, despite recent finds of human remains at the site. He said the discoveries, which included 18 fragments found on Sunday, would not halt work at the 9/11 attack site. Families of more than 1,100 of those who died have never received any remains of their loved ones. New finds of bones and human fragments last Friday sparked angry calls for the construction work to be halted.

'Tragic' finds
Many demanded answers about why the first search failed to find all the remains buried under the rubble. But Mr Bloomberg said the city should still be "phenomenally proud" of the original search effort which ended in 2002, after about 20,000 human fragments had been unearthed. "It's tragic that a handful of places were apparently not cleaned or scrutinized as well as they should have been," Mr Bloomberg said. "But remember, the fire department, who cares perhaps more than any group, did go through almost all these buildings." He said the sheer scale of the task made it almost inevitable that there remained places that had not been searched.

More searches
The search was prompted by the discovery on Friday of about 80 human bones and fragments in rubble from an abandoned manhole near the site. City officials then ordered new checks of underground areas close to Ground Zero that could have been missed. On Sunday, the city's Deputy Mayor Ed Skyler said they had identified further manholes and utility cavities that needed investigating. Five underground areas have already been investigated, and another 12 will be examined over the coming days, the Associated Press news agency reports. The discovery comes just weeks after the fifth anniversary of the 11 September 2001 attacks, in which more than 2,700 people died.

Coca-Cola plot pair plead guilty BBC News
Two men accused of plotting to steal trade secrets from Coca-Cola and sell them to rival PepsiCo have pleaded guilty in a US federal court.Ibrahim Dimson and Edmund Duhaney admitted the charge of conspiracy and could face up to 10 years in prison and a fine of $250,000 when sentenced. A third defendant, former Coca-Cola secretary Joya Williams, is due to stand trial on 13 November. She is accused of stealing samples and giving them to the men to sell.

Undercover FBI
Assistant US attorney Bjay Pak said Mr Duhaney had made his plea as part of a deal with prosecutors, and was likely to co-operate if Ms Williams came to trial. The three were charged on 11 July with stealing product samples and confidential documents from Coca-Cola and trying to sell them to PepsiCo's Pepsi unit. After the offer was made, PepsiCo contacted Coca-Cola and co-operated with FBI officials who held undercover meetings with Mr Dimson. Investigators arranged a fake sale of the material for $1.5m (£800,000) and caught Ms Williams on camera putting papers and samples in her bag, the prosecution said. She was an administrative assistant for Coke's global brand director at the firm's Atlanta headquarters.

Wall St. has high hopes for October

October looks to be Stocktober on Wall Street, as the month that
roared in like a lion appears to be heading out that way as well.
By Walter Hamilton.
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Ford posts $5.8-billion deficit in third quarter

Ford Motor Co. announced Monday that it lost $5.8 billion in the
third quarter - its largest quarterly deficit since 1992 - as the
automaker felt the pain of a restructuring plan that calls for
substantial cutbacks at factories nationwide. By Alana Semuels.
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Climate shifts on global-warming law

SACRAMENTO - The bipartisan good feeling that followed the passage
last month of a landmark California law to reduce global warming
is starting to sour. By Marc Lifsher.
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Glitch Halts PayPal Payments in eBay Checkout AuctionBytes.com
eBay buyers trying to pay with PayPal through the eBay Checkout process encountered error messages for about 45 minutes on Monday morning. According to an announcement on the eBay System Announcements Board, "From 9:21AM PT to 10:06AM PT buyers may have received "function is temporarily unavailable" errors when attempting to pay for an eBay listing with PayPal through the eBay Checkout process. (This did not impact payments made directly from PayPal.)" The technical glitch came 2 days after technical problems on eBay Live Auctions caused "intermitttent slowness and errors" on bidding activity on Saturday < http://blog.auctionbytes.com/cgi-bin/blog/...1161565704.html >. In addition, eBay's Community Forums, including Discussion boards, the Answer Center, and eBay Groups, were unavailable for a short time on Saturday. http://www2.ebay.com/aw/announce.shtml(htt...231035031.html)
By Ina Steiner

Taurus approaches the end of its road

The Ford Taurus, which entered the world as a revolutionary new
take on the American automobile, will exit Friday as a forlorn
reminder of things gone wrong with the American auto industry. By
John O'Dell.
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State moves to fire HMO regulator

The Schwarzenegger administration is moving to fire a top HMO
regulator who held stock in UnitedHealth Group Inc. when he helped
review the 2005 acquisition of PacifiCare Health Systems Inc. By
Lisa Girion.
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Fed panel holds its key rate steady

The Federal Reserve left its benchmark short-term interest rate
unchanged Wednesday at 5.25% but said economic growth was expected
to pick up - leaving open the possibility of new rate hikes. By
Molly Hennessy-Fiske.
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Airbus sells 150 A320s to China BBC News
Commercial planemaker Airbus has won a multi-billion dollar Chinese order for 150 of its A320 planes, some of which will be assembled in China.The factory in the north-eastern city of Tianjin will build its first A320 in 2009 and then manufacture four a month. The deal also includes an option for China to buy 20 of the planemaker's new wide-body A350. Economic expansion is driving demand for air travel in China, a key growth market for Airbus and rival Boeing. Chinese airlines have ordered 150 Boeing 737s in recent years. The 737 is the US aerospace giant's nearest competitor to the A320. "It is a means for us to develop a long-term vision with the Chinese," said Airbus chief executive Louis Gallois. "It is clear that building the planes in China will give the Chinese an incentive to buy more of our aircraft." The deal was signed during French President Jacques Chirac's visit to Beijing, and adds to last year's order for 150 Airbus planes signed during Chinese Premier Wen Jiabao's visit to France.

Starbucks in Ethiopia coffee row BBC News
US coffee chain Starbucks is denying Ethiopia earnings of up to £47m ($88m) a year, the charity Oxfam has claimed.The charity says the firm asked the National Coffee Association (NCA) to block Ethiopia's bid to trademark two types of coffee bean in the US. The move would have given farmers a greater share of profits, it claims. But Starbucks denies approaching the NCA, and the association says Ethiopia is being badly advised and there is no economic case to back Oxfam's views.

'Backwards step'
The Ethiopian government filed applications to trademark the coffee bean names Sidamo and Harar in US courts.The charity claims that Starbucks flagged up the application to the NCA - of which the firm is a leading member. The NCA then filed its opposition at the US Patent and Trademark Office. Oxfam's Phil Bloomer said the charity had worked with Starbucks in the past and appealed to the firm to "act responsibly". "Their behaviour on this occasion is a huge backwards step and raises serious questions about the depth of their commitment to the welfare of their suppliers," he said.

'Reduce demand'
But Starbucks senior vice-president of coffee procurement, Dub Hay, denied approaching the NCA to oppose the Ethiopian move. "We did not get the NCA involved - in fact it was the other way around, they contacted us." Robert Nelson, head of the NCA, backed Mr Hay's claim, adding that his organisation opposed the Ethiopian move for economic reasons. "For the US industry to exist, we must have an economically stable coffee industry in the producing world," he said. "This particular scheme is going to hurt the Ethiopian coffee farmers economically." He claimed that the Ethiopian government was being advised to price itself out of the market and that the trademark move would reduce demand for its coffee. Oxfam said the NCA and Starbucks should not dictate to Ethiopia how best to sell its products.

HSBC probes Pinochet gold claims BBC News
HSBC say they are investigating Chilean reports of a multimillion gold deposit allegedly belonging to Augusto Pinochet and held in a Hong Kong bank account.Two newspapers allege that gold bars belonging to the former military leader worth $160m (£85.5m) have been found. HSBC says that, although initial checks show it does not hold the gold, it is awaiting information from the Chilean authorities to pursue the inquiry. Gen Pinochet, 90, is being investigated for tax evasion and embezzlement. "We've had no formal approach either from the Chilean government or the authorities in Hong Kong but, in light of the current media reports, we have started an investigation," HSBC spokesman Richard Lindsay told the BBC news website. "However, at present, we do not believe we hold gold or any other funds for Gen Pinochet, in Hong Kong or elsewhere."

'Not yet official'
Chile's government says it has been informed of the reports but has not received any official notification. The two newspapers, El Mercurio and La Nacion, quote unnamed officials linked with the financial investigation as their source for the reports. Chilean Foreign Minister Alejandro Foxley says the authorities in Santiago received information several days ago which was relayed to the courts which are investigating Gen Pinochet's financial affairs abroad. But Mr Foxley said the information was not yet official. A spokesman for Gen Pinochet said he had no information about the alleged deposit but had no doubt that the reports had no real basis. The Chilean courts have stripped Gen Pinochet of the legal immunity he enjoyed as a former president in several cases, including for alleged human rights abuses, but he has yet to face trial.

HK budget airline gets off ground BBC News
The inaugural flight of Hong Kong's first budget airline Oasis has finally taken off, a day later than planned. The flight to London Gatwick was meant to leave on Wednesday afternoon, but was delayed after Moscow held back its right to fly over Russian territory. After hours of delay, passengers on the fully-booked flight disembarked and spent the night at home or in hotels. Oasis has made headlines by promising low-cost long-haul flights while still offering in-flight services. Chairman Raymond Lee said the firm had been "shocked and stunned" by Russia's withdrawal of its overfly permission, after a year of negotiations. "We already paid all the money, had the receipts and the confirmation number, and this sudden cancellation... was there a misunderstanding?" he told reporters at the airport.

Compensation
He said news of the decision came an hour before the Boeing 747's maiden flight was due to take off, but the airline did not immediately inform passengers as it thought the situation would be resolved. Oasis was given clearance late on Wednesday evening, he added. "We've been approved from a very responsible and reliable source that we can definitely fly through the Moscow airspace today," he said, before the plane left. The plane left for London's Gatwick airport at 1320 local time (0520GMT) carrying 300 passengers. The passengers had spent some six hours on board the grounded plane on Wednesday before being told the flight was being rescheduled for the following day. They were offered cash coupons and a free air ticket as compensation, Oasis said. Oasis has promised to shake up the airline industry in Hong Kong and beyond as the first budget carrier to focus only on the long haul. Seats in economy class cost from US$200 including tax. The airline also offers a business class, which it says is cheaper than economy on established airlines. However, environmental groups have expressed concern about the trend of budget long-haul flights, and say that low-price fares do not reflect the true cost of the environmental damage they cause.

UN initiates arms trade agreement BBC News
A United Nations committee has voted overwhelmingly to begin work on drawing up an international arms trade treaty.The measure would close loopholes in existing laws which mean guns still end up in conflict zones despite arms embargoes and export controls. It could also stop the supply of weapons to countries whose development is being hampered by arms spending. Only the US - a major arms manufacturer - voted against the treaty, saying it wanted to rely on existing agreements. A total of 139 states voted for the motion. There were 24 abstentions. Major weapons manufacturers such as Britain, France and Germany voted to begin work on the treaty, as did major emerging arms exporters Bulgaria and Ukraine. Russia and China, also major arms manufacturers, were among the countries to abstain. UK Minister for International Development Gareth Thomas said an international treaty was the best way to curb the supply of weapons. "All countries should support such a treaty as it offers the hope of a safer world where children are not scared to go to school," he said.

'Suppliers club'
The UN secretary general has one year to produce a report on how to introduce common international standards for the import, export and transfer of conventional arms.The BBC's Laura Trevelyan at the UN says it could be years before an international arms trade treaty is actually agreed - but this vote is an important first step. Globalisation has made existing export controls inadequate, our correspondent says - often, a weapons company with its headquarters in a country with strict export controls will manufacture components in nations with lax laws. Some developing countries fear a treaty will just create a cartel or a suppliers' club for the major weapons exporters, our correspondent adds. Human rights organisations have welcomed the move.Amnesty International described the vote as "an historic opportunity", saying "any credible treaty must outlaw those transfers, which fuel the systematic murder, rape, torture and expulsion of thousands of people". One of those campaigning for the treaty was Richard Wilson, whose sister was taken from a bus and shot dead in 2000, while working in Burundi as a school teacher. He told the BBC's World Today that the major arms exporting countries had to acknowledge their role in providing weapons to the poorest parts of the world. "The attackers fired off nearly 1,000 rounds of ammunition. This is in the poorest country in the world. "That says something about the easy availability of weapons, and anything that can be done to reduce that can help to prevent at least some of these tragedies in the future," he said. Nobel peace prize winners, including Archbishop Desmond Tutu, have also backed the idea of such a treaty. BBC defence and security correspondent Rob Watson says any eventual treaty faces many hurdles, including the question of how to stop those shady international arms dealers who are not in the habit of obtaining export licences? Assurances will also need to be provided to arms exporters like Russia and China and emerging manufacturers that any treaty is not aimed at damaging their arms industries, our correspondent adds.

Exxon Mobil earnings hit $10.5 billion

Cashing in on higher prices and production, oil giant Exxon Mobil
Corp. surprised Wall Street on Thursday with $10.5 billion in
third-quarter profit, putting it on pace to smash earnings records
for the full year. By Elizabeth Douglass.
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Tribune awaits bids as the sector's woes mount

Reports of declining revenues, shrinking circulation and further
layoffs have spread new gloom over the newspaper industry in
recent days and cast a pall over bidding for Tribune Co., which is
expected to receive initial offers for the entire company from
prospective buyers by today. By James Rainey and Thomas S.
Mulligan.
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Housing slump batters US economy BBC News
US economic growth slowed to an annual rate of 1.6% in the third quarter of 2006, its lowest level for three years.Commerce Department figures showed that the slump in the US housing market was largely responsible for the loss of economic momentum. The data showed a 17.4% annual fall in spending on new housing. During the previous three months the economy had grown by 2.6%. Now the rate is at its lowest since the first quarter of 2003, when it was 1.2%. However, some analysts said that consumer spending, buoyed by a fall in fuel prices, would provide a boost to the economy with some forecasting a growth rate of 3% in October to December. Lower costs at the petrol pump, combined with strong employment figures led to improving consumer sentiment during October, a survey said. The index, compiled by the University of Michigan, was at 93.6 in October, up from September's figure of 85.4.

Voter influences
However, the slump in gross domestic product (GDP), well below Wall Street expectations, comes as a blow to President George W Bush ahead of the US midterm elections next month. The economy, alongside immigration and the war in Iraq, is expected to be a major influence on voters when they go to the polls. Political reaction to the figures was swift. Republicans pointed to the sustained rally in key stocks on the Dow Jones index as proof of the US economy's resilience. White House spokesman Tony Snow told reporters that economic growth would "continue to rebound". Treasury Secretary Henry Paulson said the housing boom had been "clearly unsustainable" and the market had "needed to have a correction". However Nancy Pelosi, a leading Democrat politician, said that "just because the president looks through his rose-coloured glasses and sees a strong economy doesn't make it so". Another Democrat, Senator Jack Reed, said the growth figures contradicted "the President's claim that his tax cuts are working". Rates relief? Analysts said the news meant an interest rate rise from the US Federal Reserve was now unlikely to be imminent - with some predicting a rate reduction as being more probable. The UK-based Centre for Economics and Business Research (CEBR) said it expected US growth would be revised up slightly but that the picture remained "one of a controlled economic slowdown". "Weak GDP figures will likely give the markets something to worry about, although on the other hand, they will raise expectations that the next move in interest rates will be down," said CEBR senior economist Jonathan Said. In the US, the data also caused a surprise. "Below 2% is certainly a negative surprise and suggests that the economy is cooling off faster than anticipated," said Bank of New York strategist Michael Woolfolk. "But it is certainly in line with the Federal Reserve's story that a moderation in growth will help core inflation come back down into its comfort zone in the mid term." Latest figures show that annualised economic growth in the UK is 2.8%, while it is 3.4% in the eurozone.

Chevron earnings surge to a record

The oil company posts a profit of $5 billion, boosted by strong
sales at the gasoline pump. By Ronald D. White.
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Chinese IPO attracts $19 billion

SHANGHAI-The stock offering by China's biggest bank is the world's
largest. Investors clamoring for shares are betting on the
country's rapid growth. By Don Lee.
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U.S. economy's growth rate slows

WASHINGTON-Expansion should rebound again in the fourth quarter,
many analysts say. Much of the cooling is attributed to the
housing slowdown. By Joel Havemann.
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In Moscow, the night is young

MOSCOW-It's 3 a.m. and people are awake. Some are getting
groceries, others root canals. The economy has boomed - and so
have the 24-hour stores. By David Holley.
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Las Vegas goes Asian

LAS VEGAS-Taking their cue from Macao's gambling boom, the city's
casinos and tourism officials are chasing the new high rollers as
never before. By Kimi Yoshino.
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Chrysler may have slight edge on Big 3 rivals

Aside from its lineup of trucks and SUVs, the automaker has been
developing a line of fuel-efficient vehicles. By John O'Dell.
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Small firms' pension pitfalls

Too busy to scrutinize retirement plan details, some employers may
get stuck with poor returns. By Walter Hamilton.
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October surprise

NASHVILLE-With a new album in the can and TV appearances all lined
up, country artist Keith Urban was ready to pick up where he left
off - taking the world's arenas by storm. But a return to rehab
has put a major bump in the road. By Randy Lewis.
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'Saw III' cuts way to top at theaters

"Saw III" sliced through the competition at the weekend box
office, solidifying Lions Gate Entertainment Corp.'s low-budget
horror series as one of the most cost-effective franchises in the
movie business. By Josh Friedman.
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Industries at odds over steel tariffs

Anti-dumping duties aid U.S. makers and burden buyers. A trade
body will rule in December. By Evelyn Iritani.
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Singapore Airlines will put you to bed - for $10,000

SINGAPORE - First-class round-trip upgrade is one of several new
passenger cabin changes by the carrier. By Peter Pae.
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In hot pursuit of 'Lost'

"Criminal Minds" is a gory, creepy, serial-killer show. It's
dissed by critics as a stapled-together knockoff of CBS' many
other crime dramas. Its mirth-free tone is epitomized by Jason
Gideon, the grumpy, taciturn FBI profiler played by Mandy
Patinkin. So why is the series growing into a bona-fide hit? By
Scott Collins.
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Copyright 2006

KFC to slash menu's use of trans fat

The maker of Kentucky Fried Chicken announced that it would
deep-fry most of its menu items without trans fat, saying it had
found a soybean oil that could produce more-healthful fare while
maintaining the taste long promoted as "finger lickin' good." By
Jerry Hirsch.
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Vote machine maker asks U.S. to probe alleged ties

The maker of electronic voting machines to be used in next week's
election in parts of California and 15 other states sought to
quell concern about its connections with the Venezuelan government
and its anti-American president, Hugo Chavez. By Marc Lifsher.
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HP's ex-chief executive comes to her own defense

Carly Fiorina repeatedly uses "dysfunctional" to describe the
board that ousted her. Her legacy at the computer giant is
inconclusive. By James Bates.
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Pollock work 'earns record price' BBC News
A work by Jackson Pollock has become the most expensive painting sold, at a price of about $140m, according to the New York Times.Unnamed art experts said that US media magnate David Geffen had sold the 4ft by 8ft work, No 5, 1948, to Mexican financier David Martinez. The reported price exceeds the $135m paid in June for a 1907 portrait by Austrian artist Gustav Klimt. The Pollock work features the US artist's famous drip-and-pour style. The deal is said to have been brokered by Sotheby's auctioneer Tobias Meyer. Jackson Pollock's work had a major influence on art in the latter half of the 20th Century, sparking the emergence of abstract expressionism. But the artist battled alcoholism and depression and is generally regarded as a self-destructive, tortured genius. He died in a car crash in 1956, aged 44.

Microsoft names Vista launch day BBC News
Microsoft has announced the date on which Windows Vista will be made available to businesses.From 30 November corporate customers of the software giant will be able to get their hands on the next version of the operating system. Also on that date Microsoft will make available Office 2007 - its suite of business programs. Home users will have to wait until January 2007 to get hold of a copy of the Vista software.

Opening Windows
Vista is the long-awaited update of the Windows operating system that was originally slated to be released in August 2006. The software has been under development for more than five years. The release will be a simultaneous global launch. The software is a major overhaul of Windows and updates many of the core technologies. New elements include improved security, an improved 3D interface, plus new sound and networking technologies. Vista, known as Longhorn during its gestation, will be available in six separate versions to match the differing needs of computer users. Three of these are tuned for businesses, two are for home users and one will be for developing nations. Microsoft has yet to give details of the prices of the different versions but it has released information about what PCs will have to do to run the software. Many PC makers are now selling "Vista-ready" computers. In the US the software will be unveiled by Microsoft boss Steve Ballmer at an event at the New York Stock Exchange.

Talent agents get into film fundraising

As Hollywood studios make fewer movies in an effort to tighten
their belts, top talent agencies quietly have sauntered into the
void, becoming de facto bankers by enticing private equity money
and wealthy outsiders to fund movies featuring their clients. By
Claire Hoffman.
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Bechtel calls it quits in Iraq

Bechtel Corp. helped build the Bay Area subway system, Hoover Dam
and a city for 200,000 in the desert of Saudi Arabia. It likes to
boast that it can go anywhere, under any conditions, and build
anything. In Iraq, Bechtel met its match. By David Streitfeld.
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Watch those pipes

The Justice Department was right last month to approve the merger
of AT&T Inc. and BellSouth Corp. The teaming up of so-called Baby
Bells and long-distance carriers is not as alarming as it would
have been a decade ago. But that does not put to rest all concerns
about the potential for abuse.
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Healthcare Code Blue

If American medicine were a patient, he would weigh 350 pounds and
be gaining fast. Despite being repeatedly counseled about the
dangers of morbid obesity, he would be making at best halfhearted
attempts to mend his gluttonous ways. Meanwhile, his doctors,
insurance company, politicians and regulators would remain in a
deep state of denial. By John Abramson.
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