BUSINESS BRIEFS
Greenberg may face more counts
Advertiser News Services
ALBANY, N.Y. — Additional civil charges against former American International Group Inc. chairman and CEO Maurice "Hank" Greenberg are possible, but no state criminal charges are expected, a spokesman for New York Attorney General Eliot Spitzer said yesterday.
The Wall Street Journal reported that a person familiar with the matter said Spitzer is expected to add to his civil complaint against Greenberg as early as next week. The suit against AIG and Greenberg alleged "deception and fraud" in the accounting as a way to boost the company's financial results and stock price.
NASDAQ MAY DELIST TASER
SCOTTSDALE, Ariz. — Stun gun maker Taser International Inc. said the Nasdaq Stock Market told the company its stock could be delisted because it failed to file its third-quarter financial report on time.
The company's shares shed 90 cents, or 12 percent, to close at $6.50 yesterday on the Nasdaq. Taser said it will appeal the Nasdaq's decision by requesting a hearing before the exchange's listing qualifications panel. Until the panel makes a decision, Tas-er's stock will still be traded on the Nasdaq, though its symbol will be changed to "TASRE" from "TASR" until it files its quarterly report.
PUBLISHER CALLS CHARGES 'SMEAR'
TORONTO — Fallen newspaper magnate Conrad Black says he will show up in Chicago next week to face fraud charges, which he called "one massive smear job from A to Z."
Black, who made a brief appearance at a Toronto book launch, said he'll "definitely" show up for his scheduled court appearance on Nov. 30. Black, 61, faces charges he defrauded the Hollinger International publishing empire he formerly controlled out of tens of millions of dollars. Hollinger International Inc. owns the Chicago Sun-Times and other publications in the United States and Canada.
CHINA FURTHER LOOSENS ON YUAN
SHANGHAI, China — Pushing China's foreign exchange reform forward, the central bank yesterday carried out its first currency swaps with local banks in a move that could help bring more flexibility to the market.
The People's Bank of China confirmed it was carrying out its first foreign exchange swap deal yesterday, but would not give more details. A Beijing-based trader for a major state-owned bank said the central bank offered one-year currency swaps worth $6 billion at 7.85 yuan per dollar.
SOUR FORECAST FOR CRANBERRIES
WAUSAU, Wis. — Fresh cranberries were easy to find to complement a Thanksgiving Day feast, but they may not be as plentiful for the Christmas holiday, growers say.
Wisconsin, the nation's leading cranberry-producing state, harvested an average crop this fall, but yields were down in Massachusetts and Washington state, leading to concerns of tighter fresh fruit supplies next month.
About 45,000 acres of cranberries are grown each year in the United States, primarily in Wisconsin, Massachusetts, New Jersey, Washington state and Oregon.
