Conrad Black gets 6 1/2 years for fraud, obstruction of justice

Date: Mon, 10 Dec 2007

Conrad Black gets 6 1/2 years for fraud, obstruction of justice

CHICAGO
Former media mogul Conrad Black was sentenced to 6 1/2 years in federal
prison Monday on four counts, including fraud and obstruction of
justice.

The Fed: Quarter-point cut and discount-rate move seen as likely

WASHINGTON
Wall Street economists firmly expect a rate cut of a quarter of one
percentage point and also engineer an even larger reduction in the
discount rate when the Federal Reserve meets on Tuesday to consider its
monetary policy.

UBS adds $10 bln in write-downs, gets hefty cash injection

LONDON
Swiss banking giant UBS warned Monday that it will write down the value
of its subprime mortgage holdings by a further $10 billion, leading to a
loss in the fourth quarter and potentially wiping out all its profits
for the year.

Fed expected to lower rates despite raging inflation

WASHINGTON
In a glorious bit of timing, the Federal Reserve is expected to cut
interest rates on Tuesday for a third straight meeting, just days before
government data are released showing some of the highest inflation rates
in decades.