GOOD DAY FOR: A do-over, after a federal appeals court ordered a new trial for former Qwest Communications CEO Joseph Nacchio, who was convicted of insider trading last April. The appellate court criticized the judge who oversaw the first trial for barring a key defense witness. “This is a setback, not a defeat,” said federal prosecutor Troy Eid, who will retry the case before a new judge. (Reuters)
BAD DAY FOR: Government job creation, after recently nationalized British bank Northern Rock said it will cut 2,000 jobs, or a third or its workforce, by 2011. The bank said it plans to become a “smaller, more focused, financially viable mortgage and savings bank” that will eventually return to private hands. It owes the Bank of England about $50 billion. (Bloomberg)
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
How would the Trump administration denaturalize immigrant citizens?Today's Big Question Using civil courts lowers the burden of proof
-
Who has to pay the estate tax?the explainer Trump's new bill will permanently shift who owes federal estate tax
-
'Trucking is a dangerous business'Instant Opinion Opinion, comment and editorials of the day
