AT&T in Phone Banking Alliance

Telecommunications giant AT&T announced this week that it formed an alliance to enable people in the United States to use cellphones like cash, checks or credit cards.

AT&T said it was working with Atlanta-based mobile banking firm Firethorn, online commerce website CheckFree and a set of US banks to fulfill the vision.

While people in parts of Europe and Asian already have the option of using cellphones to make store purchases or tend to banking, the innovation is in developmental stages in the United States.

Siemens Board Member Detained

Prosecutors in Munich have arrested a management board member at Siemens, Johannes Feldmayer, in an investigation into alleged bribery at the engineering giant, a company spokeswoman said.

Feldmayer is the most senior Siemens manager to be arrested in a series of different probes into allegations of widespread corruption and embezzlement which have rocked the company in recent months.

The arrest of Feldmayer was connected with a separate investigation into alleged payments made by the company to the head of the AUB labour organization, Wilhelm Schelsky, the spokeswoman said on Tuesday.

Delta Eyes Emergence from Bankruptcy

Delta Air Lines expects to emerge from bankruptcy protection by April 30, and says it will be able to post a profit on an operating basis for 2007.

In a filing this week with the Securities and Exchange Commission, the number three US carrier said it expected a pretax profit restructuring charge of US$816 million for the year, compared with a loss of $452 in 2005.

Delta filed for bankruptcy protection on September 14, 2005, the same day as rival Northwest Airlines, as US carriers faced heightened woes from high fuel costs and the slump in air travel since the attacks of September 11, 2001.

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