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Saturday, July 5, 2008

Money Minute: Wall Street, Concord, Refco rip music from youtube videos

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BusinessMoney Minute: Wall Street, Concord, RefcoMoney Minute: Wall Street, Concord, RefcoThe Associated PressStocks closed an abbreviated session mixed Thursday after some uneven economic data: news of a contraction in the nation's services sector and a tame reading on employment. (July 3)[Notes:ANCHOR VOICE] Stocks closed an abbreviated session mixed Thursday after some uneven economic data: news of a contraction in the nation's services sector and a tame reading on employment. The Dow Jones industrial average rose 73 points to 11,289. The Standard&Poor's 500 index rose 1, to 1,263 nad the Nasdaq composite index fell 6, to 2,245.---------------------------------- --------- Phillip Bennett, the former chief executive of Refco Inc. has been sentenced to 16 years in prison for a financial cover-up that brought down one of the world's largest commodities brokerages.Refco went public in August 2005 and for bankruptcy just weeks later after disclosing that a $430 million debt owed to Refco by a firm controlled by Bennett had been concealed. ---------------------------------------- ---------A French judge has ordered Continental Airlines and five people to stand trial on charges of manslaughter for the 2000 crash of a Concorde jet that killed 113 people.The investigators say the crash was caused in part by a titanium strip from a Continental Airlines DC-10 that was lying on the runway. The inquiry also determined the Concord's tanks lacked sufficient protection from shock _ and that Concorde's makers had been aware of the problem since 1979. ___ ___, The Associated Press.(****END****)

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