As chairman of the Federal Reserve Board during one of the most turbulent periods in U.S. monetary history, Paul Volcker (born 1927) helped lower double-digit inflation rates in the early 1980s and ushered in an era of financial deregulation and...

Documents from the oil-for-food corruption investigation will be legally transferred to the United Nations on Jan. 1 and made available to governments trying to prosecute alleged wrongdoers, the U.N. said Friday.The voluminous archive was complied by the Independent Inquiry Committee, led by former Federal Reserve...

Former Senate Majority Leader Bill Frist has withdrawn his name from consideration for World Bank president, a person familiar with the situation told The Associated Press on Monday.Frist, a Tennessee Republican, served two terms in the U.S. Senate, where he was a close ally to...

A British oil trader was arrested Thursday on U.S. charges of paying bribes to Saddam Hussein as part of the discredited U.N. oil-for-food program for Iraq.Metropolitan Police said John Irving, 52, was detained in central London on a U.S. extradition warrant. He appeared at the...

Six former executives of wheat exporter AWB Ltd. are facing civil trial over millions of dollars in kickbacks to Saddam Hussein's Iraqi regime, the latest round in a scandal surrounding the U.N.'s now discredited oil-for-food program.On Friday, a newspaper called for more investigation into government...