El Paso plans to write down $3.7 billion in restatements
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HOUSTON -- El Paso Corp. , the nation's largest natural gas pipeline company, said yesterday it will write down the value of its oil and gas properties by $2.67 billion and reduce the value of its shareholder equity by $1 billion to reflect accounting revisions for natural gas hedges.
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TechWeb - Taxpayers who want to do more than one thing with their refunds can divide the money and deposit it directly in up to three accounts this year.
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Encysive restructures to reduce its cash burn.
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Dynegy Inc. will restate earnings for 2003 and the first half of this year to take a larger write-down connected to the pending sale of Illinois Power Co. and deferred income tax accounts, the company said Wednesday.
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SLM Corp. , better known as Sallie Mae, said on Thursday it restated nearly three years of financial statements because of several errors in its statement of cash flows.
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It&#39;s payback time. The former chief executive of Conseco (nyse: CNO - news - people ) and his family trusts must pay $62.7 million plus interest to a unit of the insurance company, which may also foreclose on his mansion, a judge ruled.
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The families of seven of the people killed or injured in the Texas A&amp;M University bonfire collapse will share &#36;4.25 million in a partial settlement of a lawsuit, an attorney said.
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The revised bill raises by $700 million the Russian government's previous $3.4 billion estimate of back taxes for 2001.
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Charles Peters Jr. is taking over as the company deals with the aftereffects of restating its earnings for the past three fiscal years.
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El Paso Corp. EP.N, the biggest U.S.  natural gas pipeline company, on Monday posted a third-quarter  loss as higher prices for oil and gas failed to offset lower  production volumes.
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Fitch Ratings said it might downgrade bonds valued at $7.1 billion due to rising delinquencies and defaults on subprime mortgages.
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Insurers are braced to pay out about  $7 billion in claims for devastation caused by Hurricane  Charley, making the storm the second most costly after  Hurricane Andrew, industry and government officials said on  Monday.
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U.S. energy company El Paso Corp.,  which has struggled with heavy debts since 2001, has decided to  sell its Asian power assets to raise an estimated $500 million,  sources familiar with the plan said on Wednesday.
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The new reserves come on top of Â£300 million earmarked last year to pay compensation for failing endowment policies and mis-sold precipice bonds.
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Capital markets losses offset solid revenue growth in most businesses at the bank, which posted net income of $3.7 billion.
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AT&amp;T Corp. swung to a third-quarter loss of $7.12 billion after recording huge charges related to the company&#39;s retreat from traditional telephone services, which has included at least 7,500 more job cuts
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(Corrects to show Merrill write-downs and adjustments  totaled about $16 billion instead of $14.1 billion in paragraph  7.)