Skip to Content, Navigation, or Footer.
Tuesday, April 30
The Indiana Daily Student

Business Briefs

Tyco suit ruled a mistrial\nNEW YORK -- With the jury possibly minutes from a verdict after a trial that lasted nearly six months, a judge declared a mistrial Friday in the corruption case of two former Tyco International executives, saying outside pressure on one juror had left him no choice.\nA startled gasp echoed in the courtroom when state Supreme Court Justice Michael Obus made his announcement following a trial that by some accounts cost more than $12 million. Several jurors looked chagrined upon hearing the judge's decision. The jury had deliberated for 11 days.\nProsecutors said immediately they would seek a retrial of former Tyco chief executive L. Dennis Kozlowski, 57, and former chief financial officer Mark H. Swartz, 43. They were accused of looting $600 million from the company, which mainly makes industrial products.

Unemployment rate raises despite job growth\nWASHINGTON, D.C. -- After months of dismal job growth, the nation's employers dusted off their help-wanted signs in March and added workers at the quickest pace in four years, swelling payrolls by 308,000.\nEven so, the unemployment rate inched up a tenth of a point to 5.7 percent as more people were encouraged to start looking for work again but failed to find jobs, the Labor Department said Friday. The report gave economists hope the weak labor market was turning a crucial corner. For the first time in 44 months, the nation's factories did not shed jobs. But they didn't hire either.\nRevisions to payroll figures also showed a stronger jobs market in the first two months of the year than previously thought. Companies added 205,000 jobs in January and February, instead of the 118,000 reported last month.

Get stories like this in your inbox
Subscribe