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. Last Updated: 07/27/2016

12/20/2002

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Chinese All Want to Be Millionaires

Who wants to be a millionaire? Pretty much everyone in China, and communist leaders are urging them on.

Roh Wins South Korea Presidency

Roh Moo-hyun has come a long way from a ramshackle farming village in southeastern Korea to winning his country's presidency in a cliffhanger Thursday.

U.S. Jails Immigrants as They Come to Register

Hundreds of Middle East citizens are in southern California jails after coming forward to comply with a new rule to register with immigration authorities only to wind up handcuffed and behind bars.

Oil Is Delicate Issue For U.S., Report Says

NEW YORK -- Should the United States remove Iraqi President Saddam Hussein, it must also convince citizens of Iraq and surrounding countries it does not want to control the nation's oil, U.S. energy experts said Wednesday. ""The widely held view that the campaign against Iraq is driven by an American wish to 'steal' or at least control Iraqi oil,"" must be refuted in order to rehabilitate the nation's hobbled oil industry, said a report by the James Baker Institute at Rice University and the Council on Foreign Relations. Iraq sits on top of the world's second-largest oil reserves, but two wars, first with neighboring Iran and then with a U.S.-led coalition, and a decade of sanctions have withered its oil infrastructure and official exports. This year, Iraq's official oil exports have averaged just 1.25 million barrels per day, according to the United Nations, down from pre-1990s exports of under 3 million bpd.

War Fears Propel Gold to 6-Year High

Gold surged to its highest price in nearly six years and oil hovered close to a three-month peak Thursday as the United States looked set to say Iraq was in violation of a UN disarmament resolution, ratcheting up fears of war.

Philip Morris Claim Slashed From $28Bln to $28M

A California judge on Wednesday slashed a record $28 billion jury award against cigarette maker Philip Morris to a comparatively paltry $28 million, calling the punitive damages ""legally excessive.""

Britain Fines CSFB for Duping Japan

Britain's financial watchdog slapped a $6.4 million fine, its highest ever, on investment bank Credit Suisse First Boston on Thursday for trying to mislead Japanese regulatory and tax authorities.

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