Three Florida companies have been sued by Verizon Wireless, which accused them of making thousands of illegal telemarketing calls to its customers. The suits, filed in New Jersey, seek injunctions to prevent All Star Vacations and Marketing Group of Miami, Travel and Tours Marketing of Orlando and Cambridge Marketing and Financial Services of DeLand from making the calls, some of which were targeted to Spanish-speaking residents.
Bernanke to give first report as Fed chief
Today, Alan Greenspan's successor as Federal Reserve chairman, Ben Bernanke, heads to the House of Representatives for his inaugural semiannual report on the economy, followed by a similar report to the Senate on Thursday. Wall Street expects Bernanke to be just as vigilant on inflation as his predecessor, with the promise of interest rate hikes inherent.
Air cargo carriers under investigation
U.S. and European regulators have launched an investigation of trans-Atlantic cargo carriers, examining possible price fixing in the air cargo industry. The European Commission carried out surprise inspections Tuesday at several major Europeans airlines, while the U.S. Justice Department issued subpoenas.
Buffett to leave Coca-Cola's board
Billionaire investor Warren Buffett will not stand for re-election to the Coca-Cola Co.'s board of directors, the world's biggest soft drink company said Tuesday. Buffett, who has been on the board since 1989 and is one of the company's biggest shareholders, told Coke he made his decision because of increased demands on his time resulting from acquisitions by his holding company, Berkshire Hathaway Inc.
IRS: Government was shortchanged $345B
The Internal Revenue Service said Tuesday taxpayers shortchanged the government by $345-billion in 2001, with the biggest problem among people failing to report income from business ventures. Sole proprietors, independent contractors, self-employed workers and others who report business income on their individual tax returns accounted for $109-billion in missing taxes. They failed to report 43 percent of the business income.
Microsoft says Vista ready for holidays
Microsoft Corp. hopes to have the new version of its Windows operating system available in time for the U.S. holiday season, narrowing the time frame for the much-anticipated product's release. Microsoft has long said the new system, called Vista, would be available in the second half of 2006, but spokesman Lou Gellos said Tuesday the company wants to have it in stores in time for the holiday season, which typically begins around Thanksgiving.