MANAGEMENT

Nominee For Envoy To Iraq Drops Out Over Affair With Reporter

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President Barack Obama's nominee to become the next U.S. ambassador to Iraq withdrew his name on Monday after Republican lawmakers questioned his suitability following revelations that he had engaged in an extramarital affair with a journalist who later became his wife.
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Oysters

Korean Molluscan Shellfish Should Be Pulled From Market: FDA

U.S. food wholesalers, food retailers, and food-service operators have been advised by the Food and Drug Administration to remove from their distribution chains all clams, mussels, oysters, and scallops -- collectively known as molluscan shellfish -- that have come to the U.S. from South Korea.
AMR and US Air

American Airlines-US Airways Merger: Who Wins, Who Loses?

US Airways has been very publicly circling AMR Corp., the bankrupt parent of American Airlines. Yet industry experts expressed concerns that, while a potential merger would be a boon to the labor unions, the flying public would end up footing the bill.
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Tibet Tourism Grows, Despite Ban On Foreigners

Though foreigners are now banned from traveling to the Tibet Autonomous Region, the Chinese name for Central Tibet, the Himalayan hinterland has experienced a boom in tourism thanks to Chinese visitors.
AOL chairman and Chief Executive Officer Tim Armstrong speaks at the Reuters Global Media Summit in New York

AOL Management Defeats Starboard Value Board Challenge

AOL (NYSE: AOL), the No. 7 website, said management had re-elected all its candidates to the board of directors, defeating three challengers nominated by Starboard Value Management, a hedge fund that owns 5.3 percent of the company.
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Dimon Says JPMorgan's Actions 'Violated Common Sense'

JPMorgan Chase & Co (NYSE:JPM) Chairman Jamie Dimon floated unscathed through a hearing of the Senate Banking Committee meant to examine what happened inside his banking behemoth earlier in the year, when a massive bet on the credit-default swaps derivatives market reportedly meant to 'hedge' other bank risks went sour, resulting in multibillionaire losses.
JPMorgan

JPMorgan's Dimon: Good Intentions Behind Bad Trades

JPMorgan Chase & Co Chief Executive Jamie Dimon defended the intent of the portfolio behind the bank's recent multibillion-dollar trading loss, telling lawmakers it was a genuine hedge that would make the firm a lot of money if a credit crisis hit.
Rihanna

Rihanna And Chris Brown Back Together Again? Ex-Couple Seen At Miami Heat Game, Sources Say A Reunion Is Likely

Rihanna may say that her collaboration with ex-boyfriend Chris Brown earlier this year was strictly professional, but sources close to the singer may think otherwise. According to the New York Post, the two former lovers have been ?seeing a lot of each other in private,? sources said to the newspaper. Over the weekend Brown joined the Barbados-born singer and her family at a Miami Heat game, furthering rumors of a reunion.

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