Makeover in US Fed

WASHINGTON: A new team is being assembled at the Federal Reserve. Kevin Warsh was sworn in on Friday as the newest Fed governor, where he’ll have a role in setting interest rates and shaping policies that affect the nation’s financial and economic landscape. Vice-president Dick Cheney administered the oath of office to Warsh in the vice president’s ceremonial office in the Eisenhower Executive Office Building, the Federal Reserve said in a statement. —AP

Shell to pay Nigerians

LONDON; A Nigerian court ordered Royal Dutch Shell to pay $1.5 billion in damages for polluting Niger delta, a fresh blow to the company. A federal high court in Port Harcourt, ruled that Shell must compensate communities in Bayelsa state for degrading their creeks and spoiling crops and fishing. The decision was a major victory for the Ijaw people. —The Guardian