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...part in the bungled "Al-Yamamah" probe. (Britain's High Court ruled in 2008 that the SFO had acted unlawfully in scrapping the inquiry, a decision later overturned by the House of Lords.) And the prosecution of BAE for overseas corruption would be only the second such case against a British firm. Building contractor Mabey & Johnson was last month fined $10.5 million for similar offenses dating back to the early 1990s. (Read: "The Gulf: An Exquisite Balancing...

Author: /time Magazine | Title: U.K. Defense Contractor Faces Bribery Rap | 10/1/2009 | See Source »

...weighing up the likelihood of a successful prosecution against the costs to the taxpayer falls to Baroness Scotland, Britain's Attorney General. That process could itself take weeks, with any resulting case unlikely to come before a judge until next year. "Going the route of formal prosecution is certainly not an easy cut-and-dried process for the SFO," Howard Wheeldon, a senior strategist and aerospace expert at BGC Partners in London, wrote in a note to clients Thursday. Moreover, he suspects, "if BAE allows it to come to court they feel they have a pretty good chance of success...

Author: /time Magazine | Title: U.K. Defense Contractor Faces Bribery Rap | 10/1/2009 | See Source »

...would not accept a settlement that did not name specific executives. New York attorney general Cuomo is reportedly considering pursing his own charges against Lewis and other Bank of America executives on issues surrounding the Merrill acquisition. Pursuant to Rakoff's ruling, the SEC has gone ahead with its case against the bank in general but has yet to name individual executives in the suit. Cuomo recently subpoenaed a number of current and former Bank of America board members. He has not indicated whether he intends to bring charges...

Author: /time Magazine | Title: The Rise and Sudden Fall of Bank of America's Ken Lewis | 10/1/2009 | See Source »

...actually caused by the vaccine. For this reason, health officials fear that adverse reactions in vaccine recipients can make the already difficult job of convincing healthy people to receive inoculations even more challenging. For whatever reason, people tend to fear vaccines more than other medicines. This has been the case since the first vaccinations were given to prevent a spread of smallpox in England in the late 18th century. That vaccine used bovine ingredients (the word vaccine comes from the Latin word for cow, vacca) and people feared the injections would turn them into cows. (See the top 5 swine...

Author: /time Magazine | Title: Weighing the Risks of Mass Vaccinations | 10/1/2009 | See Source »

...options. The Environmental Protection Agency (EPA) on Wednesday announced a proposed rule that would regulate carbon emissions from large emitters - primarily power plants - that emit 25,000 tons of greenhouse gases or more. The rule is the latest step in the EPA's response to a 2007 Supreme Court case that classified carbon dioxide and other greenhouse gases as pollutants that required EPA regulation under the Clean Air Act. The proposed rule will oblige those large emitters to get permits that demonstrate they are using the best available technology for controlling carbon whenever they engage in new construction or upgrading...

Author: /time Magazine | Title: Proposed U.S. Carbon Cuts: All Bark, No Bite? | 10/1/2009 | See Source »

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