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U.S. markets recover from steep losses
CHICAGO, May 2 (UPI) -- Former Illinois Gov. James Thompson testified in federal court Wednesday that he only "skimmed" financial statements from Hollinger International Inc.
Testifying in the Chicago trial of former Hollinger Chairman Conrad Black, Thompson admitted he just scanned the documents while heading up the company's audit committee rather than reading them thoroughly, the Chicago Tribune reported.
"I should have read them word for word. I didn't," the former governor said.
Thompson previously had said he had no knowledge whatsoever about money paid to Black from Hollinger business partners.
Black and three other former Hollinger executives are charged with attaching false non-compete fees to more than $3 billion worth of sales by the company. If convicted of fraud or racketeering, the 62-year-old former executive could face a maximum prison sentence of 20 years.
The Tribune said Thompson also testified he had no knowledge regarding payments made to the defendants for signing the non-compete agreements.
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CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
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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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