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. Last Updated: 07/27/2016


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WorldCom's $1 Jet Claims Scalp

One of WorldCom Inc.'s longest-serving directors, Stiles Kellett Jr., has agreed to resign from the board and pay an undisclosed sum to resolve an ongoing controversy over his lease of a corporate jet from the troubled long-distance telephone company.

Qwest to Write Down Its Assets by $34.8Bln

Qwest Communications International said late Monday that it would write down the reported value of its assets by $34.8 billion.

Case Mulls Detaching AOL From Time Warner

AOL Time Warner chairman Steve Case has suggested to senior executives that the company could spin off its America Online unit.

Press Review

A brief look at the stories making headlines in the Russian-language press

Web Sites Shut Down to Protest New Spanish Law

Tough new Spanish laws regulating cyberspace have prompted at least 300 owners of Spain-based web sites to take their pages offline in protest.

Firms' Annual Financials Added Up and Put Online provides visitors with the yearly financial reports of some of Russia's top companies.

Efes Planning 20 Internet Bars

The Turkish beer company is planning a network of 20 Internet bars in the capital, with the first set to open in the Manezh shopping center near Red Square.

Telecoms Investment Cap Called 'Bad Idea'

The government risks choking off investment in the telecommunications industry if it goes ahead with a plan to curb foreign firms from buying stakes in domestic phone companies.

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