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AT&T has agreed to remove 8 miles of lead-covered cables from Lake Tahoe following a legal battle with an environmental group. The California Sportfishing Protection Alliance found high levels of lead in the water, sediment, and algae near the cables, which could harm the lake's ecosystem. AT&T claims that the cables do not pose a risk to human health or the environment, but the settlement is being hailed as a win for the environment and the communities that rely on Lake Tahoe. An ongoing investigation by the Environmental Protection Agency has also found elevated levels of lead at other lead-cable sites across the US. [Extracted from the article]

The Environmental Protection Agency (EPA) has requested telecom companies to meet with them regarding their lead-sheathed phone cables. This comes after the EPA found over 100 soil and sediment readings with elevated lead levels near phone lead-cable sites in three states. The EPA's preliminary data supports their determination that investigating lead telecom cables is a high priority. The telecom companies have stated that their own tests show low lead levels and that the cables pose no significant public health risk. The EPA plans to collect more data and analyze it to determine the source of the elevated lead levels. [Extracted from the article]

FINANCIAL CRISIS Citi, SEC in talks to settle mortgage probe Citigroup Inc. C-N is in the early stages of negotiating with the U.S. Securities and Exchange Commission to settle an [...]

Byline: AMIR EFRATI AND SUSAN PULLIAM At least three U.S. Attorneys offices are probing whether Lehman Brothers Holdings Inc. misled investors before its bankruptcy filing, as pressure grows to hold [...]

Byline: AMIR EFRATI, SUSAN PULLIAM, KARA SCANNELL AND CRAIG KARMIN Federal criminal prosecutors are stepping up their interest in Wall Street's mortgage-securities activities. The Justice Department's U.S. attorney's office in [...]

Byline: SUSAN PULLIAM; WALL STREET JOURNAL STAFF In a series of e-mails to senior bank executives, a former Royal Bank of Canada trader alleged that some of his colleagues intentionally [...]

Leon Black, founder of Apollo Management, is considering the private sale of a 10% stake in the company for $1.5 billion. If such a deal goes through, Mr. Black could make up to $750 million.

Warren Buffett of Berkshire Hathaway Inc. has given evidence to United States regulators concerning a suspect deal with American International Group Inc. and a failed Virginia insurer. American International Group Inc. is suspected of improper accounting which could decrease it's net worth to $1.77 billion.

It is revealed that Berkshire Hathaway Inc. CEO Warren Buffett knew of an insurance transaction between his company and American International Group Inc. back in 2000, a transaction now under the scrutiny of regulators. Buffett has been called to meet with investigators.

David Myers of the former WorldCom Inc. telecommunications giant is giving evidence in the securities fraud trial, aiding prosecutors. Mr. Myers explains how he participated in the $11 billion fraud by putting aside misgivings and permitting false accounting entries.

Former chief financial officer Scott Sullivan provided damning testimony at former WorldCom CEO Bernard J. Ebbers' accounting fraud trial.

Bernard Ebbers, WorldCom Inc. trial on fraud charges is to focus on conspiracy. The chief executive officer or the telecommunications giant deceived investors about the worsening financial condition of WorldCom Inc.