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Business 28 Jul 2010 | 12:00 AM

Audit: US cannot account for US$8.7B in Iraqi funds

BAGHDAD: A U.S. audit has found that the Pentagon cannot account for over 95 percent of US$9.1 billion in Iraq reconstruction money, spotlighting Iraqi complaints that there is little to show for the massive funds pumped into their cash-strapped, war-ravaged nation.

Business 03 Aug 2010 | 12:00 AM

Americans are fed up with bank bailouts

WASHINGTON: Americans are fed up with bank bailouts that risk taxpayer billions. The government's apparent solution: call them something else.

Business 30 Aug 2010 | 12:00 AM

US wasted billions in rebuilding Iraq

KHAN BANI SAAD, Iraq: A US$40 million prison sits in the desert north of Baghdad, empty. A $165 million children's hospital goes unused in the south. A $100 million waste water treatment system in Fallujah has cost three times more than projected, yet sewage still runs through the streets

Business 06 Sep 2010 | 12:00 AM

NZ economy facing hit from major earthquake impact

CHRISTCHURCH, New Zealand: New Zealand's prime minister warned Monday that the country's economic recovery will be hurt by the weekend's powerful 7.1-magnitude earthquake that smashed buildings and wrecked roads and rail lines in the city of Christchurch.

Business 23 Sep 2010 | 12:00 AM

US Govt needs US$133.78 a share to recover GM money

DETROIT: The U.S. government would have to sell its General Motors stock for $133.78 per share to recoup the nearly $50 billion it spent bailing out the Detroit automaker, according to a watchdog of government bailout funds.

Business 30 Sep 2010 | 12:00 AM

Canadian police looking for rightful owner of allegedly stolen $12.5mil lottery ticket

TORONTO: Police said Wednesday they were searching for the rightful owners of a $12.1 million lottery ticket after charging a family in Ontario with stealing the jackpot.

Business 06 Oct 2010 | 12:00 AM

Treasury cuts bailout price tag to US$50bil

WASHINGTON: The US$700 billion financial bailout will cost about US$50 billion, the Treasury Department said Tuesday.

Business 14 Oct 2010 | 12:00 AM

US watchdog defuses accusations on Goldman timing

WASHINGTON: The watchdog of the Securities and Exchange Commission has found no hard evidence that the SEC timed the announcement of its fraud case against Goldman Sachs to eclipse negative news about a separate case.

Business 29 Oct 2010 | 12:00 AM

AmBank plans five new branches

PETALING JAYA: Ambank (M) Bhd plans to open five new branches in the next 12 months, said chief general manager of transformation, channel and sales, Brad Gravell.

Business 18 Nov 2010 | 12:00 AM

GM boosts stock offering size by more than 30%

NEW YORK: General Motors Co is boosting the size of its common stock offering by more than 30% to US$15.5bil, two people familiar with the matter said, potentially making its landmark initial public offering (IPO) the largest US offering ever.