Word: corpe
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...strangling hazard for kids. Some parents say their children have managed to swallow the liquid inside, which in some cases has proved to be flammable and toxic. Consumer-protection officials in New York and Massachusetts are urging the product's removal from stores. Peter Tiger, CFO of Imperial Toy Corp., one of several wholesalers marketing the toy, says his company has sold almost 10 million of the yo-yos and insists they are safe. --By Nadia Mustafa
Since its founding as a telegraph company in 1851, Western Union has pioneered the stock ticker (1867), the electronic money transfer (1871), the credit card (1914), the singing telegram (1933) and intercity facsimile service (1935). But since 1995, when it became a division of the Denver-based First Data Corp., the world's biggest credit-card processor, Western Union has focused on electronic payments. Western Union processed nearly a billion checks and money orders in 2001 and is the biggest mortgage-payment processor in the U.S. It has also become a leader in the gift-card market, with clients including...
...RESIGNED. RICHARD LI, 36; as chief executive officer of Pacific Century CyberWorks Ltd. (PCCW); in Hong Kong. Li will be replaced by Jack So, currently chairman of Hong Kong's subway operator MTR Corp. PCCW acquired the city's former phone monopoly Cable & Wireless HKT for $28.5 billion in 2000. Li, son of Hong Kong's richest man, Li Ka-shing, will remain chairman of PCCW, which has debts of $4 billion...
...that prices on DVD recorders are finally falling, the tide is starting to turn. Research firm International Data Corp. expects annual DVD-recorder sales in the U.S. to reach 10 million by 2006. The latest offerings still aren't cheap; the least expensive brand-name model costs $500. And because Hollywood copy-protects its movies, you can't use these machines to duplicate the discs you rent from Blockbuster. (Computers with DVD burners are a different story, at least for now, thanks to a DVD-ripping program that has so far survived legal challenge...
...CHARGED. LIU TAI-YING, 67, former Kuomintang treasurer; with perjury, graft, insider trading, and other offenses relating to several financial scandals; in Taipei. Liu, chairman of China Development Financial Holding Corp., was one of the most powerful figures in Taiwan's former ruling party during the 1990s. If convicted, he faces up to 16 years in jail. Liu's indictment is being taken as evidence that President Chen Shui-bian's administration is serious about its pledge to crack down on corruption...