Over a dozen insurance companies, including AIG and Chubb Corp. , have pulled their support for establishing a $140 billion federal trust fund to pay claims arising from asbestos-related lawsuits. The move makes it unlikely that Congress will approve legislation on the issue this year, which will leave hundreds of US companies in an uncertain [...]

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The defense team for Mikhail Khodorkovsky delivered its summation Tuesday, arguing that the state had failed to prove that the former CEO of oil giant Yukos had committed any crime. "This is a complete vacuum and in this vacuum we must defend ourselves," said defense counsel Genrikh Padva. Prosecutors closed their case last week, and [...]

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The Bush administration's top law enforcement officials urged renewal and expansion of USA PATRIOT Act provisions in testimony Tuesday before the Senate Judiciary Committee. FBI Director Robert Mueller asked legislators to expand the FBI's administrative subpoena powers, which allow the government to obtain records without prior approval from a judge or grand jury. Additionally, Mueller [...]

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Nonprofit organizations exempted from federal income taxes due to their charitable purpose are becoming top offenders for tax abuse and evasion, Internal Revenue Commissioner Mark W. Everson warned the Senate Finance Committee in a letter. Everson said the IRS has found violations in virtually every type of nonprofit organization, and the sector risks losing the [...]

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A panel of Arab intellectuals concluded no major steps have been taken toward democracy in the Middle East in the 2004 Arab Human Development Report released Tuesday. The long-awaited report sponsored by the UN Development Program called reforms in the region "embryonic and fragmentary" and faulted the US for impeding progress through its actions in [...]

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