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Business NY Times

2 Charged in Scheme Said to Defraud Internet Phone Providers
The case raises fresh questions about the security of phone traffic over largely unregulated networks.

Senate Rejects Effort to Cut Estate Tax
A 57-41 vote fell short of advancing the bill that shrinks taxes on inherited estates during this election year.

U.S. Stocks Retrace Losses in Afternoon Trading
Investors appear to be preoccupied with the prospect of rising interest rates and the threat of inflation.

China Mobile Acquires Stake From News Corporation
China Mobile acquired a 19.9 percent stake in Hong Kong's Phoenix Satellite Television from the News Corporation.

European Central Bank Raises Interest Rates
The bank raised its benchmark interest rate today by a quarter point but avoided saying it would sharply tighten credit to head off inflation.

Apple Faces Fresh Legal Attacks in Europe
European agencies want Apple to remove restrictions that prevent customers from playing music they bought through iTunes on devices made by other companies.

Site Chosen in China for Airbus Assembly Plant
Airbus and the Chinese government said today that Tianjin, a port near Beijing, will be the site of a new plant to assemble Airbus A320 narrow-body jetliners.

Morgan Lures Back a Defector of Rank
The return of a senior investment banker is a small coup for Morgan Stanley, which has worked hard to replenish its pool of top investment banking talent.


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