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Federal commodity-trading regulators on Wednesday announced that a subsidiary of Royal Dutch Shell PLC has agreed to pay a $200,000 penalty to settle charges of making ''fictitious'' trades of crude oil futures contracts.

The Commodity Futures Trading Commission said Shell International Trading and Shipping Co. of London engaged in prearranged ''noncompetitive'' trades on the New York Mercantile Exchange with a U.S.-based Shell subsidiary, Shell Trading US Co., on five occasions between November 2003 and March 2004.

A day after he pleaded guilty to three felony counts in Washington, Jack Abramoff, a once prominent Republican lobbyist, pleaded guilty today to two felony charges of conspiracy and fraud in a case stemming from his purchase of a casino boat line in 2000.

Prosecutors intend to argue that former Enron CEO Jeff Skilling attempted to deceive the Securities and Exchange Commission in a deposition he gave soon after the company's bankruptcy about his reason for selling 500,000 shares of Enron stock, according to a motion filed in a Houston federal court Tuesday.

108 heads of state from 172 countries were busy saving the planet at the earth summit Rio. It is difficult to say how the earth summit has improved the environment and helped those most in need. But it is much easier to say that in 1992, the web was a toddler in contrast to the speeding giant of mass communications it now is, giving a voice to all who can get online.

Former high-powered lobbyist Jack Abramoff pleaded guilty Tuesday to conspiracy, fraud and tax evasion charges, agreeing to cooperate in a federal corruption probe in Washington.

Abramoff, 46, admitted that he did not disclose receiving kickbacks on payments from Native American tribes to a partner's public relations firm. He also acknowledged that some of his money did not go to charities, as he had reported, but paid for a golf trip to Scotland.

In two lawsuits, politically connected U.S. telecom companies have been accused of kickbacks to Former President Aristide and his associates.

A former top executive of Qwest Communications International Inc on Wednesday pleaded guilty to wire fraud, avoiding a five-week trial that had been set to start on Tuesday.

Chronology of accounting practices and federal investigations of
Qwest Communications International Inc.:

2001:

--June 20: Morgan Stanley downgrades Qwest stock after analyst questions accounting practices. Qwest Chairman and Chief Executive Officer Joseph Nacchio later disputes the claim.

2002:

--Feb. 11: Qwest cooperates with government subpoena concerning its swap of fiber-optic network capacity with Global Crossing Ltd.

--April 4: Qwest says SEC has begun formal inquiry into its accounting practices.

Battle lines are being drawn up as delegates gather for the summit. For some governments, it is an opportunity to promote the role of business in sustainable development. But many campaigners have the opposite goal: to stem the tide of corporate influence over social and environmental policy.

The former chief accounting officer of Enron pleaded guilty today to a single felony charge of securities fraud and agreed to cooperate with federal prosecutors, giving a significant lift to the government's case against the two leading figures in the scandal over Enron's collapse.

German financial giant Deutsche Bank has agreed to a $270 million settlement of claims that it participated in a complex securities fraud orchestrated by a fugitive Saudi arms merchant that bankrupted Minneapolis-based securities firm Stockwalk Group four years ago.