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Business 03 May 2011 | 12:00 AM

Casinos sense opening in online poker indictments

LAS VEGAS: The indictments that led to three major online poker companies shuttering U.S. operations have provided an opening for American casinos to cash in on an industry worth an untold billions of dollars.

Business 18 Apr 2011 | 12:00 AM

Verwaayen shows his respect and concern

PETALING JAYA: Alcatel-Lucent chief executive officer Ben Verwaayen had flown to Malaysia to meet the top brass of Telekom Malaysia Bhd (TM) to clear the air over the one-year ban on the French equipment vendor.

Business 25 Mar 2011 | 12:00 AM

Alcatel-Lucent barred from Axiata, TM deals for a year

PETALING JAYA: Both Axiata Group Bhd and Telekom Malaysia Bhd (TM) have barred Alcatel-Lucent from participating in tenders, contracts or joint ventures for a year following the call from Malaysian Anti-Corruption Commission (MACC).

Business 25 Mar 2011 | 12:00 AM

Can we prevent another international bribery scandal?

ALCATEL-LUCENT has been blacklisted for 12 months.

Business 23 Mar 2011 | 12:00 AM

New York judge calls off plans for Google library

NEW YORK: A judge on Tuesday rejected a deal between Internet search leader Google and the book industry that would have put millions of volumes online, citing anti-trust concerns and the need for involvement from Congress while acknowledging the potential benefit of putting literature in front of the masses.

Business 01 Feb 2011 | 12:00 AM

Oracle to pay US$46mil to settle kickbacks charges

WASHINGTON: Oracle Corp. has agreed to pay US$46 million to settle a lawsuit over alleged kickbacks to win government work.

Business 30 Dec 2010 | 12:00 AM

Minister asks TM to explain kickback allegations

PETALING JAYA: The Government views the allegations of kickbacks of US$700,000 paid to Malaysians by Alcatel Lucent SA for it to win a US$85mil telecoms contract between 2004 and 2006 very seriously and Information, Communications and Culture Minister Datuk Seri Dr Rais Yatim wants the Malaysian Anti- Corruption Commission (MACC) to investigate the matter.

Business 22 Dec 2010 | 12:00 AM

Deutsche Bank to pay over US$550mil in fraud probe

NEW YORK: Deutsche Bank admitted criminal wrongdoing and agreed to pay more than $550 million in connection with its participation in tax shelters that enabled the rich to temporarily avoid paying hundreds of millions of dollars in U.S. taxes, authorities announced Tuesday.

Business 13 Dec 2010 | 12:00 AM

Madoff son's suicide followed battle with trustee

NEW YORK: For two years, the two sons of jailed financier Bernard Madoff portrayed themselves as honest whistleblowers of their father's historic fraud. A court-appointed trustee depicted them as bungling money managers who did nothing to protect investors.

Business 08 Dec 2010 | 12:00 AM

NY feds: Boston businessman giving up US$625mil

NEW YORK: A 97-year-old Boston-area apparel entrepreneur agreed Tuesday to forfeit US$625 million to be distributed to cheated investors in jailed Bernard Madoff's historic Ponzi scheme, authorities revealed, as a court trustee said negotiations are under way to recover money as well from the owners of the New York Mets baseball team.