Executives from Japanese camera and medical device maker Olympus admitted Tuesday that the company has been using accounting tricks to cover up losses since the 1990s. The announcement comes after a scandal erupted last month.
Voters in Washington state will decide whether to privatize the sale of hard liquor on Tuesday. Currently spirits can be sold only at state-run or contract liquor stores. Retail giant Costco has been pouring money — about $22 million — into advertising in favor of getting the initiative passed.
The sudden bankruptcy of commodities trading firm MF Global has thrust a familiar name in to the spotlight: Jon Corzine. Previously, Corzine was governor of New Jersey, a U.S. senator and chairman and CEO of the investment firm Goldman Sachs. Corzine resigned last week as chairman and CEO of MF Global as investigators search for hundreds of millions of dollars missing from clients' accounts.
In South Korea, opposition politicians have delayed the ratification of the Free Trade Agreement with the United States. The U.S. Congress has ratified the pact. But in South Korea, thousands of opponents have been holding angry street rallies, and a rising mood of anti-American sentiment is helping their cause.