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US Probe Of Lucent's China Operations Heats Up
Washington (AFP) Sep 07, 2006 Telecom equipment maker Lucent Technologies said US regulators are likely to take action against the company following an investigation into its Chinese operations. Lucent said that it has been notified by the Securities and Exchange Commission that investigators are recommending an "enforcement action" against the company to the SEC's leadership. The telecom equipment maker said in the statement dated Wednesday that the probe was related to "a previously disclosed investigation of Lucent's operations in China under the Foreign Corrupt Practices Act (FCPA)." The US government has previously used the act to charge American companies and executives with bribing foreign officials or businesses in order to obtain favorable contracts. Lucent disclosed few other details about the government probe, but stressed that it was cooperating with the government. The South China Morning Post newspaper has reported that Chinese anti-graft investigators have been scrutinizing multi-billion dollar deals Lucent and other foreign telecom equipment makers have obtained in China's vast telecom market. Lucent has been pushing aggressively to gain an increased share of China's growing telecom equipment market in recent years, and has counted state-owned operators China Telecom, China Netcom and China Mobile among its customers. The company's disclosure to investors came on the eve of a shareholder meeting Thursday in Wilmington, Delaware, at which shareholders will be voting on Lucent's proposed merger with Alcatel of France.
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Iran Corrects Claims Over New Fighter This Time It Is An F-5
Tehran (AFP) Sept 7, 2006Iran announced on Thursday it has developed a new war plane -- named the "Azarakhsh" (Lightning) -- which it describes as similar to the American F-5. "The Azarakhsh fighter jet has been completely manufactured by Iran and it is comparable to the F-5 fighter jet," Brigadier General Javad Mohammadian was quoted as saying by the state news agency IRNA. |
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