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U.S. markets recover from steep losses
HOUSTON, May 15 (UPI) -- Prosecutors in the Houston fraud and conspiracy trial of Enron Corp.'s former leaders began closing arguments Monday in U.S. federal court.
U.S. District Judge Sim Lake gave U.S. prosecutors six hours to summarize their case against Ken Lay, 64, Enron's former chairman, who faces six charges, and Jeffrey Skilling, 52, Enron's former chief executive, who faces 28 charges, the Houston Chronicle reported.
Convictions could result in both men spending the rest of their lives in prison.
The 14-week trial has featured wildly divergent testimony and two different defense strategies. Lay and his lawyers have portrayed the former chairman as a well-intentioned idea person who was unaware of financial details, while Skilling has said that -- except for a few minor accounting issues -- there was no chicanery.
Both defense teams have agreed, however, that their clients are the victims of wrongdoing by former financial chief Andrew Fastow, who has cooperated with prosecutors.
Jurors are expected to get the case this week.
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WASHINGTON, May 23 (UPI) --
The planned Keystone XL oil pipeline would move oil away from refineries that produce gasoline, increasing prices, the National Resource Defense Council says.
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MELBOURNE, Fla., May 23 (UPI) --
Northrop Grumman says its Military Airworthiness Certification is closer for its re-engined EC-8 Joint Surveillance Target Attack Radar System aircraft.
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The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
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What if Europe turned out to be the new Japan?
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