Chevron to pay US$30m in oil-for-food settlement
Chevron Corp agreed to pay US$30 million to resolve criminal and civil liabilities related to procurement of oil under the United Nations oil-for-food programme, U.S. prosecutors said yesterday. Chevron, the No. 2 United States (U.S.) oil company, obtained Iraqi oil...
Bear Stearns taking more write-downs
Investment bank Bear Stearns Cos. will take a US$1.2 billion writedown in the fourth quarter related to weakness in its credit portfolios, Chief Financial Officer Samuel Molinaro Jr. said yesterday. Molinaro said the write-down will lead the company to post a loss...
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