NYT: WorldCom, the nation’s second-largest long-distance carrier, said last night that it had overstated its cash flow by more than $3.8 billion during the last five quarters in what appears to be one of the largest cases of false corporate bookkeeping yet.
Another one hits the dust?
Wired: Microsoft has disclosed an ambitious new project to improve security by creating within its Windows software a virtual “vault” where customers would conduct electronic transactions and store sensitive information.
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