Enron

Skilling Ordered to Prison Immediately
A federal judge denied a request by former Enron Chief Executive Officer Jeffrey Skilling to remain free during his appeal process, and ordered that he be imprisoned immediately.

Federal Judge: Kenneth Lay’s Estate Won’t Have to Pay Up
A federal judge Tuesday vacated the conviction of Enron founder Kenneth Lay, which erases his felony convictions and means that his estate will not be responsible for paying back the money he stole.

Kenneth Lay Dead at 64; Former Enron Workers Shocked, Disappointed
Former Enron Corp. chairman Kenneth Lay died Wednesday of a massive heart attack, leaving some former Enron workers disappointed that he would not have to pay for bilking them out of billions of dollars of pension plans and thousands of jobs.

Natwest Three Plead Guilty to $7.3m Enron-linked Transatlantic Fraud
Britons face 37 months jail in justice department deal· Ill-gotten gains must be repaid to bank's owner

NatWest Three May Plea Bargain Over Enron Charges
Trio due in court this week after shift by prosecutors · Britons extradited under much-criticized treaty

NatWest Three Forced to Remain in Us
A US judge today rejected a request from the so-called NatWest Three to return to Britain to await trial on Enron-related fraud charges.

Kenneth Lay
Shortly before his death from a heart attack in Aspen, Colorado, at the age of 64, Kenneth Lay, the chief executive of Enron, lamented that he had lived both the American dream and the American nightmare.

British Bankers to Face Enron Charges
Three UK bankers today exhausted their efforts to avoid extradition to the US where they face fraud charges in connection with the Enron scandal.

Enron Chiefs Face Rest of Their Lives in Prison
The former Enron bosses Kenneth Lay and Jeffrey Skilling were yesterday convicted on fraud charges stemming from one of the most infamous scandals in corporate history.

Enron Fraud Trial Hears Lay Admit to Mistakes
Enron's founder, Kenneth Lay, yesterday ended six days of trial evidence claiming he had done all he could to avoid the company's collapse, an event he described as the "most painful thing" in his life.

Former Enron Chief Tells Court of His 'american Nightmare'
Kenneth Lay, the former Enron chief, yesterday told a courtroom that his pursuit of the American dream had ended in an "American nightmare" after the business collapsed amid allegations of fraud in 2001.

The Truth About Fraud
A drama written a century ago airs the issues in the Enron scandal like nothing else. By Martin Kettle

'I'll Fight Charges Until I Die,' Former Enron Chief Tells Us Court
Jeffrey Skilling, Enron's former chief executive, yesterday made an impassioned vow to fight the criminal fraud charges levelled against him "until the day I die".

Enron Whistleblower's Media Career Under Scrutiny
Sherron Watkins, the woman who blew the whistle on Enron, battled through a fierce cross examination yesterday as lawyers defending its former bosses against fraud charges attacked the media career she has built since the energy company collapsed. "You've made a fairly good living since...

Enron Wanted to Sack Whistleblower, Court Told
The woman who blew the whistle on the accounting scandal that brought down Enron spoke yesterday about how she tried to get out of the firm when she discovered the extent of its dodgy accounting.

I Was Very Greedy, Says Enron Trial's Star Witness
· There was a culture of corruption, court told · Fastow siphoned off millions of dollars

Enron Finance Chief Takes Stand Against Former Boss
· Fastow reveals workings of 'off-balance-sheet' deals · Defence attacks credibility after deal for 10 years' jail

City Bankers Lose Extradition Appeal
Three British bankers today face extradition to the US over fraud charges in connection with the Enron scandal after losing a high court battle.

Enron Boss 'tried to Stifle Critical Voices'
· Ken Lay asked for analyst to be excluded, aide says · 'Difficult and probing questions' annoyed chief

Enron Accountant Pleads Guilty
· Causey admits fraud in return for seven years' jail · Ex-bosses Skilling and Lay may seek trial delay.

Sarbanes-Oxley: The Wrong Solution To A Legitimate Problem.
Sarbanes-Oxley Act or the accountants full employment act as I like to call it, refers to legislation introduced by Senator Paul Sarbanes (D) MD and Representative Michael Oxley (R) Ohio and passed in July of 2002 in response to the Enron and WorldCom scandals.

Our Very Own Enron
All it has delivered is one financial scandal after another - but the government remains wedded to PFI. George Monbiot

More Payouts Expected From Enron Lawsuits
The University of California today said it expected other large settlements after JP Morgan Chase agreed to pay $2.2bn (£1.2bn) to the university and other investors following the collapse of the energy firm Enron.

Tapes Reveal Enron's Secret Role in California's Power Blackouts
Newly discovered tapes have revealed how the energy corporation Enron shut down at least one power plant on false pretences, deliberately aggravating California's crippling 2001 blackouts with the aim of raising prices.

Tapes Link Scandal-hit Enron to California Power Crisis
Newly discovered tapes have revealed how the energy corporation Enron shut down at least one power plant on false pretences, deliberately aggravating California's crippling 2001 blackouts with the aim of raising prices.

Scandal Not My Fault, Says Enron Chief
Kenneth Lay, the former Enron chief executive, yesterday spoke out for the first time since the company's collapse and placed the blame for the firm's failure squarely on finance chief Andrew Fastow. In a lengthy interview with the New York Times, Mr Lay protested his innocence, spoke of...

US Opens Enron Case to Extradite British Bankers
Three British former NatWest bankers accused of conspiring with senior Enron fraudsters to embezzle almost $20m (£11m) will today begin their battle against extradition to the United States. Gary Mulgrew, David Bermingham and Giles Darby are charged with seven counts of wire fraud...

Top Former Enron Executive 'to Plead Guilty'
The former finance chief of the disgraced energy company Enron, Andrew Fastow, is set to change his plea from innocent to guilty in charges relating to the scandal that brought down Enron, as part of a plea bargain, according to reports. The New York Times reports today that Mr Fastow has...

Enron Finance Chief Seeks Plea Bargain
Former Enron finance chief Andrew Fastow was last night negotiating a plea bargain that could send him to prison for his role in the accounting scandal that brought down the energy firm more than two years ago. Prosecutors were also preparing to charge the company's former top accountant,...

Corporate Europe Chilled By Enron-style Scandal
It has already been dubbed Parmasplat, and Europe's Enron. The Securities and Exchange Commission has called it: "One of the largest and most brazen corporate financial frauds in history." The sheer scale of the scandal - what started as a €4bn black hole in the food company's...

Ambassador Promoted Cause of Enron Boss
The former British ambassador to the United States Sir Christopher Meyer put enormous pressure on reluctant ministers to give red-carpet treatment to the head of the US energy giant Enron, according to documents obtained by the Guardian. They reveal a wrangle in which he and other Foreign...

Parmalat 'is Europe's Enron'
Italian food group rocked by 4bn euro black hole. Parmalat's new chairman, Enrico Bondi, was last night holding an emergency meeting with other board members amid fears of a "European Enron".

Corporate Emperors Still Rule, Says Enron Whistleblower
The "imperial chief executive" who treats the assets of a listed company as if they were his own is as active as ever despite attempts to clean up the corporate world, according to Sherron Watkins, who blew the whistle on her own bosses' excesses at Enron. Too many accounting rules can...

Ex-Enron Workers Sue Bosses for $72m
Former Enron workers are seeking to recover $72m (£45m) in bonuses paid to senior executives in the hours before the energy firm went bankrupt.

Welcome Back To "Sexy!"
Michael, Which is sexier: The Enron scandal which cost shareholders $8 billion, or Martha Stewart's inside sale that netted her $45,000?

Couple on new Enron charges
The US justice department yesterday announced new charges against former Enron chief financial officer Andrew Fastow and for the first time accused his wife, and seven other ex-Enron officials of fraud and other criminal violations in connection with the company's collapse.

Enron scams fill 2,000 pages
The scale of the deception at Enron, the bankrupt energy firm, was further exposed yesterday in a 2,000 page report detailing the increasingly desperate measures the company used to hide its true financial position.

Corporate America, Come Home!
In the wake of the Enron scandal, US shareholders are calling for an end to tax-avoiding companies registering off-shore, writes David Teather.

First big name pays for Enron liaison
Some of the biggest names on Wall Street were last night facing the threat of civil fines related to their involvement with Enron, the scandal-hit US energy group, after Merrill Lynch agreed to a penalty of $80m (£50.5m).

Wheels within wheels
Like most oil companies, Enron created partnerships - with the assistance of banks, accounting firms, and law firms - for its projects, such as oil wells and pipelines. These partnerships - not Enron - borrowed money, purchased assets, and entered into contracts.

Not just a few bad guys
The collapse of Enron led to numerous lawsuits, government investigations and criminal prosecutions. But the question remained: were the direct participants really responsible?

Scandal of crashed company's tax evasion
Enron, the US energy company that collapsed amid scandal in late 2001, evaded billions of dollars in tax with the help of "some of the nation's finest" accountants, investment banks and lawyers, according to a report published yesterday.

No Enrons here, thank you
Where the US leads, Britain follows. No we're not talking about Iraq, but financial reforms sweeping the UK in the wake of scandals at Enron and WorldCom in America.

Corruption erodes confidence
Businesses worldwide face an uphill struggle to wipe out corruption and restore public trust after the collapse of Enron, the world's top anti-corruption think tank said yesterday.

The Disquieted Americans
The release of a critical account of the Enron collapse suggests that post-September 11 self-censorship is finally ending, writes Duncan Campbell.

JP Morgan Settles Suit for $600m
JP Morgan Chase said yesterday it would receive about $600m (£400m) in a settlement with insurers of a disputed $1bn in losses from deals the bank hatched with Enron, the bankrupt energy firm. The bank also said it would set up a $900m reserve related to other outstanding litigation...

Wakeham's Enron Role Under Scrutiny
Lord Wakeham's role on the board of the collapsed energy company Enron is to be scrutinised by the British body which polices the accountancy profession. The former energy secretary in Margaret Thatcher's government could be barred from operating as a chartered accountant if the...

Video Reminds Bush Family of Embarrassing Enron Links
The White House last night suffered an embarrassing reminder of the Bush family's close relationship with the disgraced energy firm Enron. A video recorded for the leaving party of a former employee shows senior executives joking about how they could manipulate the accounts to make "a...

Bank Pursues Enron's Insurers for $1bn
JP Morgan Chase yesterday began its move to wring $1bn in Enron-related losses out of 11 insurance companies which have refused to honour contracts signed before the energy group went bankrupt. The court case opened in Manhattan and is the first trial related to the collapse of the...

Us Midterm Elections Comments
Despite Enron, despite Iraq, US voters seem confused and apathetic about next week's midterm elections.

Angst, but no anger
Despite Enron, despite Iraq, US voters seem confused and apathetic about next week's midterm elections. Like most countries, America's collective attention span only really allows for one big story at a time. Until last week the consuming obsession was the hunt for the Washington sniper.

The Enrons of the East
Hermitage Capital Management, an international investment firm owned by HSBC London, is suing PwC (PricewaterhouseCoopers), the biggest among the big four accounting firms (Andersen, the fifth, is being cannibalized by its competitors).

Enron Finance Chief is Handcuffed
Federal prosecutors in the US yesterday made significant breakthroughs in attempts to clean up corporate America, filing charges against the highest ranking Enron executive yet and gaining a key witness in the case against Martha Stewart. Andrew Fastow, the former chief financial officer...

Barclays Tangled in Enron Web
Barclays Bank could face claims for redress from Enron creditors because of its alleged role in the bankrupt energy firm's efforts to disguise billions of dollars in debt. A report prepared by a court-appointed examiner said a $168m (£100m) transaction that Barclays helped to arrange...

The end of a corporate titan
Today's announcement that Enron is putting its major assets on the market represents the end for the energy trading corporation. Mark Tran looks at the 17 year history of the once top Fortune 500 company.

Enron puts assets up for sale
Enron, the once mighty US energy trader, was today moving towards break-up as it put its most valuable assets on sale.

Andersen Agrees to Settle $60m Enron Claims
Andersen attempts to draw a line under the scandal. Andersen, the embattled accountant, agreed to pay $60m (£39m) yesterday to settle legal claims relating to its role in the collapsed oil company Enron as it attempted to draw a line under the scandal.

Net Closes on Enron Chiefs
The net was closing in on former Enron executives last night after Michael Kopper, who worked in the energy firm's finance department, pleaded guilty to money laundering and fraud and agreed to cooperate with prosecutors. The plea is the first big breakthrough for the US justice...

Ex-Enron Executive Pleads Guilty
Federal prosecutors in the US have secured their first conviction in the case against bankrupt oil giant Enron, as one of the company's former executives pleaded guilty to money laundering and wire fraud.

Gareth Stedman Jones: All that's left is reformism
Marx was the first anti-capitalist. But it's unlikely that he'd be one now. The myriad scandals currently rocking corporate America would have come as little surprise to Karl Marx. The unchecked expansion and corrupt practices of Enron, Xerox and WorldCom were, for Marx, part and parcel of the capitalist mode of production.

EU Safeguards Worse Than Enron's, Accountant Says
The European commission was embroiled in a furious row yesterday with its suspended chief accountant, Marta Andreasen, who claimed that its £63bn budget was "massively open to fraud" because it lacked even Enron's accountancy safeguards. Ms Andreasen, who accused the commission of a...

Bush faces storm over 'Enron' judge
Controversial choice for appeal court accused of favouring big business. Open warfare has broken out between the White House and Capitol Hill over President George Bush's most controversial nomination to date to the bench of American high courts.

Banks 'knew of Enron Scam'
Citigroup and JP Morgan Chase constructed $8bn (£5bn) of "complex, phoney" transactions for Enron which helped hide the debt that led to the energy firm's collapse, a senate committee said yesterday.

British law gets tough after Enron
Company directors and employees could face up to two years in prison and unlimited fines for giving dishonest or misleading information to auditors, under a review of company law announced by ministers yesterday.

Bush Urges 'new Era of Integrity'
The US president, George Bush, today delivered a speech to Wall Street demanding 'a new era of integrity' in American corporate life following the Enron collapse and WorldCom fraud.

BIS Speaks Out on Enron Affair
The Bank for International Settlements, the Swiss-based central bankers' central bank, yesterday blamed the collapse of energy trader Enron on a catastrophic failure of corporate governance.

Senators reject Enron excuses
Bipartisan report from Capitol Hill investigators says directors were aware of dubious accounting practices. A bipartisan report from a US Senate committee has rejected claims from Enron directors that they knew nothing about the company's questionable accounting practices.

Hewitt plans audit shake-up
Trade secretary seeks to rebuild investor condence after US corporate scandals. Patricia Hewitt, the industry secretary, will today propose significant changes to the auditing profession in the wake of the Enron and WorldCom scandals that have shaken confidence in world stock markets.

Andersen stares at disaster after conviction for Enron cover-up
The future of the international accountants Arthur Andersen was in doubt last night after it was found guilty of obstructing justice as auditor for the failed energy firm Enron.

White House releases papers
The Enron scandal took centre stage in Washington again yesterday, with the White House giving a Senate investigating committee access to more than 1,745 pages of documents relating to contacts between President Bush and officials from the bankrupt energy group.

Andersen 'debated Dumping Enron Account'
Arthur Andersen, considered dropping Enron as a client in February 2001 because it feared the consequences of the energy firm's recklessness.

Partner says Duncan stretched rules to excess
David Duncan, the former Arthur Andersen partner who ran the Enron account, was yesterday described as someone who stretched accounting rules "to excess".

Enron-tainted Andersen Closer to Break-up
The break-up of Arthur Andersen, the firm embroiled in the Enron scandal, today moved a step closer as KPMG Consulting announced plans to buy its consulting businesses.

Andersen Suffers Setback
Arthur Andersen, the stricken accountancy firm, yesterday suffered a heavy blow in opening exchanges of the first criminal trial to emerge from the collapse of the energy firm Enron.

Houston Counts the Cost of Enron
Just a couple of blocks away from the Enron tower, in a squat, mean-spirited-looking court house opened by John F Kennedy in 1961, the accountancy firm Arthur Andersen will begin its last, desperate fight for survival.

Enron Unveils Survival Plan
Enron, the bankrupt energy firm, yesterday presented its plan for survival as a stripped down company with power and pipeline assets across North, South and Central America.

Andersen Talks With Justice Department Break Down
The survival of Arthur Andersen was further in doubt last night as talks aimed at settling the criminal charges against the firm relating to the Enron scandal broke down. Yet another big name client also deserted Andersen when Rupert Murdoch's News Corporation ended a 12-year relationship with the...

US Investors Nervously Await Results
The Enron scandal and the fragile economic recovery have cast a shadow over the upcoming first quarter results, writes Mark Tran.

Edmond Warner: Merrill lynched by conflict of interest
Now that Enron has destroyed Andersen, could the fallout from the dotcom boom destroy Merrill Lynch?

Claims on Enron 'total $100bn'
Legal claims against Enron from shareholders and creditors could add up to $100bn (£69bn), according to the man brought in to keep the bankrupt energy business trading. In his first address to the company's dispirited workforce, Stephen Cooper, the turnaround expert hired as chief...

Note Tells of Enron Suicide's Pain and Despair
The anguish of the former Enron vice-chairman who killed himself in January was revealed yesterday when the police released the contents of his suicide note. John Clifford Baxter wrote that he had lost his sense of pride. He died from a single gunshot wound to the head and was found in...

Andersen's Top Enron Auditor Pleads Guilty
Last night it emerged that one of the top executives responsible for auditing Enron had agreed to plead guilty to obstructing the US goverment's investigation into the collapse of the energy company.

Barclays Denies Enron Fraud
The UK offices of Arthur Andersen and Barclays Bank were yesterday named in a $30bn (£21bn) class action lawsuit, which alleges corruption and fraud among banks, law firms and accountants that dealt with bankrupt US energy firm Enron. Lawyers representing shareholders in Enron...

Top Banks Added to Enron Hit List
Barclays and other top financial institutions are to be added to the hit list of an expanded class action suit in connection with the Enron collapse, it was announced today. William Lerach, the lead attorney in the case, said the banks' knowledge of questionable partnerships and financial...

Enron Alarm Bells Unheard
A high-profile body charged with setting the government's views on accounting policy after the collapse of Enron has yet to meet, despite its existence being announced by trade and industry secretary Patricia Hewitt two months ago. The group was billed as uniting ministers at the...

The Faces Behind a Tainted Brand
David Teather talks to Andersen employees affected by the fallout from the Enron scandal.

Andersen's New Plea to Escape Charges
Arthur Andersen is to step up its efforts to persuade the US government to drop criminal charges relating to its audit of Enron.

Andersen Chief Quits in Enron Crisis
Joseph Berardino, chief executive of the global accounting firm, Andersen, resigned yesterday in the wake of criminal charges and loss of clients because of its involvement in the bankrupt energy trading company, Enron. Mr Berardino yesterday denied any top management involvement in the...

How Enron Cleaned Up American Politics
Political reformers hope the collapse of Enron may have tainted US campaign financing so badly that it helps end the practice, writes Mark Tran.

Enron: the Movie
Hollywood film studios are racing each other to tell the story of America's most infamous corporate collapse, says Duncan Campbell.

Andersen Faces Growing Regional Defections
Andersen's Swiss unit today joined the growing list of the accountancy giant's European branches wanting to break away from the US operation in the wake of the Enron scandal. Andersen's Switzerland spokesman, Claude Baumann, said that the branch planned to leave Andersen Worldwide and...

Bush Bars Andersen
Arthur Andersen which is still reeling from an indictment for obstruction of justice, was yesterday barred from working with the US government. The announcement was another blow for Andersen which faces an exodus of clients and a wave of lawsuits related to its auditing of Enron. The Bush...

US Media Turn on Corporate Excess
March 15: The Enron scandal has forced a spotlight on the gross disparities in America between the earnings of top executives and their workers, writes David Teather.

Edmond Warner: Time to declaw an old pet
Enronitis brings the role of the non-executive director into sharp focus.

Delta Dumps Andersen As Enron Fallout Spreads
Arthur Andersen's ability to weather the Enron scandal fell further into doubt yesterday as Delta Air Lines, the third largest US airline, ditched the accountants.

Insurers Accuse Morgan Chase of Fraud
JP Morgan Chase, the battered Wall Street investment bank, was delivered another blow last night when it lost an attempt to force 11 insurance companies to honour $965m (£678m) in bonds related to failed firm Enron. US district judge Jed Rakoff sided with the insurance firms, some of...

Enron Paid $320m in Bonuses Last Year
Enron rewarded its top executives with at least $320m in bonuses last year as the now bankrupt energy giant hit share price targets, it emerged today. But the bonuses are being scrutinised by federal investigators as Enron stands accused of improperly inflating company profits during 2000...

Enron's Skilling Denies Lying to Congress
Jeffrey Skilling has said he did not "dupe" his chairman Kenneth Lay and denied lying to Congress.

Enron Chief 'ignored Financial Irregularities'
Enron's chief executive failed to take action that could have saved the company when he was alerted to financial irregularities last year, senators heard today. Sherron Watkins, a former vice-president at the energy company, spoke of her frustration at the lack of decisive action after...

White House May Punish 'collapse Dodger' Bosses
The White House is considering new rules to make it more difficult for executives to dodge responsibility for a company's collapse. The proposals emerged as recriminations from the Enron failure continued when a group of insurance firms filed a countersuit against JP Morgan Chase,...

Warning of More Enrons
Dozens of US companies risk falling foul of the accounting practices which are blamed for the collapse of Enron.

Is Enron bringing down the Astros?
After the fall of Enron, the Houston-based energy giant, the Astros are left in a precarious position. The team's ties to the corporation run deep and with the season approaching, are the Astros already conceding defeat and planning a destiny similar to Enron's?

Enron Office Sale Attracts Ironic Punter
From the maple-veneer boardroom table to the marble-topped canteen bin, the luxurious furnishings of Enron's European headquarters will go on public view in London today before being auctioned off next week. Despite suffering the biggest corporate failure in US history, there are no signs...

Enron Traders Unwind
About 100 Enron energy traders stand to pocket commission payments of up to £24m to help administrators unwind the company's complex trading book.

Enron Whistleblower Says Lay Was in Dark
The whistleblower who warned of the impending accounting scandal at the US energy firm Enron last August broke her silence yesterday, and pinned the blame firmly on the finance chief, Andrew Fastow, and the former chief executive, Jeffrey Skilling.

Enron Chiefs 'manipulated Income Statements'
The Enron executive who blew the whistle on suspect accounting practices at the US energy conglomerate told a Congressional inquiry today that company executives were involved in "sheer income statement manipulation" designed to hide losses from shareholders. Sherron Watkins, vice...

Congress Cracks Down on Campaign Finance
After marathon debate, the US House of Representatives gave its approval early today to the most sweeping overhaul of campaign spending rules since the Watergate scandals a generation ago. The debate took place against the backdrop of the Enron scandal, in which the collapsed energy giant...

Enron Role in California Blackouts Investigated
An investigation was launched yesterday to determine whether the Enron Corporation was responsible for the blackouts that hit California last year and whether they artificially inflated the price of electricity in the state. The new inquiry comes amid allegations that the company may have...

Enron Executive May Face Perjury Charge, Says Investigator
Leaders of the congressional investigations into the Enron collapse said flatly last night that they did not believe the sworn testimony of the former Enron chief executive, Jeffrey Skilling, and one congressman suggested that Mr Skilling could face formal accusations of perjury. They...

Congress Outrage at Enron Chiefs' Silence
American corporate culture of the past decade went on trial yesterday as US congressmen took turns to berate some of the key protagonists in the Enron scandal, but were met mainly with silence. One after another of the disgraced businessmen invoked the constitution's fifth amendment,...

Wall Street's Message is Trust No One
As the events that led to the implosion at Enron have become clear - the huge debts hidden in offshore ventures, the forced restatement of accounts - so the focus is shifting firmly to the checks and balances that were supposed to have pre vented this kind of thing from happening.

Enron Chief Will Be Forced to Testify
The Enron scandal exploded into open political warfare yesterday, as Congress declared its intention to subpoena the bankrupt energy trader's former chief executive, Kenneth Lay, and the Democrats accused the Bush administration of running a "cash-and-carry" government on behalf of the disgraced...

Star Witness Pulls Out of Enron Hearing
A US Senate committee today cancelled a hearing on Enron after the energy company's former chairman, Kenneth Lay, decided at the last minute not to appear. Mr Lay would have been the star witness on Capitol Hill in a week full of congressional hearings into the collapse of America's...

New Enron Scandal Link to Bush
Two given energy jobs after firm's former head suggested them to White House.

White House Announces Savings Protection Plan
President George Bush will propose measures today to safeguard employee pensions in the wake of the Enron debacle, when workers lost their retirement funds. In one proposal designed to level the playing field between top management and employees, Mr Bush wants to bar executives from...

Credit Suisse Hit By Enron Effect
Credit Suisse Group today warned of a sharp fall in profits for 2001 as the Swiss financial giant was hit by restructuring costs and losses related to Enron and Argentina. Profits last year came to $940m (£665,394), down from profits of $3.5bn (£2.5bn) in 2000. Credit Suisse...

Congress Sues White House Over Enron
The US Congress yesterday undertook to take the White House to court for the first time in history, to uncover details of contacts between Vice-president Dick Cheney and executives of the collapsed energy company Enron. The general accounting office (GAO), the investigative arm of...

New Enron Chief Faces Toughest Job in America
Enron today named Stephen Cooper as its new chief executive, replacing Kenneth Lay, who resigned last week from the bankrupt US energy giant. Mr Cooper will take over one of the toughest jobs in corporate America as the disgraced US company tries to restructure itself while facing myriad...

Fall of the arrogant
It's hard to overstate the enormity of the impact of Enron's implosion. The biggest corporate collapse in US history is now dragging politicians, banks, accounting firms, other corporations, pension funds, investment analysts, the reputations of so-called business experts and millions of investors...

Former Enron executive found shot dead
A former top executive of the failed US energy firm Enron who had strongly criticised the company's murky accounting methods was found dead in his car yesterday from a gunshot wound to the head. John (Clifford) Baxter was found by police on a routine patrol in the affluent Houston, Texas...

Enron scandal: US questions cash for influence culture
The Enron scandal has pushed US politics to the brink of a fundamental overhaul after more details emerged yesterday of the intricate web of relationships built up between the bankrupt energy trading corporation and the Bush administration with the help of millions of dollars of campaign cash...

Julian Borger: Bush, the corporations' flag-carrier
The Strategic Rail Authority's master plan states that £56bn is needed to overhaul an ailing rail network that is badly managed, congested and saturated. clear that the old equation does not hold. The Enron executives got rich even as their company was plunging into the abyss, taking its...

Enron director held on to plunging shares
The former Conservative cabinet minister, Lord Wakeham, last night signalled his willingness to answer any questions asked by US Senate committees investigating the £55bn collapse of the Enron energy corporation. But, as US sources revealed that Enron executives cashed in $1.1bn...

Senate demands Enron documents
Connections between the White House and the ill-fated energy business Enron could come under scrutiny from yet another investigation started into the spectacular collapse of the company. A division of the senate governmental affairs committee yesterday said it intends to demand documents...