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Last updated on April 20, 2014 at 8:28 EDT

Latest the Times Stories

2009-03-26 15:18:00

Britain's Serious Fraud Office said Thursday it had raided three offices concerning an $81.4 million fraud that victimized the Allied Irish Banks. The amount of losses may escalate, as AIB was not the only victim, The Times of London reported. The fraud involved loans taken out between 2003 and 2007 that included fraudulent guarantees, The Times said. The Allied Irish Banks, however, discovered the guarantees were not valid in 2008, the Times said. AIB said it was considering legal action...

2009-03-26 08:50:11

Owners of London's modern office and shopping complex Canary Wharf said it was nearing bankruptcy, putting the development at risk for the second time. Songbird Estates, which bought most of the complex in 2004, said there was material risk its financing could collapse, The Times of London reported Thursday. The three-skyscraper complex includes Bank of America and Japanese bank Nomura as two of its tenants. Morgan Stanley has already left and others may follow, the Times said. Lehman...

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2009-03-25 12:02:26

New York state's $16 billion budget shortfall may force 9,000 layoffs in the wake of failed negotiations with union workers, the governor said. New York Gov. David Paterson said Tuesday that layoffs would begin in July but the announcement may have been a signal to the unions that it was time to respond to the state's call for negotiations, The New York Times reported Wednesday. In concessions that apply to all state employees, except those working for the university system, the governor has...

2009-03-23 12:10:00

Thousands of amateur videos have either been pulled or silenced on YouTube because of a copyright dispute with the Warner Music Group, The New York Times said. Thousands of videos disappeared, Fred von Lohmann, an attorney for the Internet civil liberties group Electronic Frontier Foundation, told the Times. Either they turned off the audio, or they pulled the video. A Warner Music spokesman said the YouTube Web site's system for identifying copyrighted material doesn't distinguish between...

2009-03-23 08:20:45

The Swedish government's refusal to help automaker Saab could devastate the town of Trollhaven, where the company is the largest employer, residents said. I don't think the government knows the situation in this town, how many people depend on Saab, said Therese Doeij, clerk in a Trollhattan photo shop, told The New York Times. To them it's just a factory. They don't see the people behind it. About 4,000 of Trollhattan's 54,000 residents work for Saab and about 50,000 visitors each year visit...

2009-03-12 14:44:37

Former NFL running back Travis Henry is having trouble supporting his nine children, The New York Times reported. The children are 3-11 years old and all have different mothers, the Times said. He claimed that he was surprised that some of his former suitors became pregnant by him. Henry tried recently to get a judge in Atlanta to lower monthly payments from $3,000 for a 4-year-old son, and is $16,600 behind on support for a youngster in Frostproof, Fla., his hometown. The Times said the...

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2009-03-12 08:02:36

The case against New York trader Bernard Madoff may be the kickoff for an open season of prosecuting executives for fraud, a top fraud attorney said. It's going to be open season. You'll see a lot more indictments down the road, Daniel Petrocelli, whose clients include former Enron Chief Executive Officer Jeffrey Skilling, said to The New York Times. U.S. President Barack Obama's federal budget includes increase spending for the FBI to tackle white-collar crime and a 13 percent budgetary...

2009-03-11 07:33:17

U.S. banks are finding the conditions attached to bailout funds aren't just onerous but increase their risks, industry experts said. Signature Bank of New York said it would return the $120 million in bailout funds due to the restrictions on executive pay, The New York Times reported Wednesday. The Johnson Bank of Racine, Wis., said it was no longer interested in accepting bailout funds, as it would eliminate its option of supporting local programs, such as the zoo or an opera company, the...

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2009-03-10 07:08:45

The New York Times Co. has finalized a sale-leaseback agreement for part of its Manhattan headquarters, in a move aimed at raising cash to pay down its debt, the newspaper company announced on Monday. The Times raised $225 million through the deal with investment firm W.P. Carey & Co. LLC for 21 floors of the newspaper's 52-story Renzo Piano-designed headquarters on Eighth Avenue, according to a statement the company released. The statement said that the lease term is 15 years and the...

2009-03-06 11:29:06

U.S. technology giant IBM has cut about 4,600 jobs recently in a scatter-shot pattern, allowing it to duck announcement laws, sources said. Some companies are willing to broadcast job cuts to signal investors they are willing to make tough decisions during tough times, The New York Times reported Friday. The federal WARN Act mandates 60 days notice for plant closings and layoffs that cut 500 jobs or more at one location or cuts of one-third of a workforce at one production site, the Times...