Russian case settled

Harvard University has settled a case in which it alleged that two of its employees had used inside information to invest in Russian companies while advising Russian officials on capitalism.

Andrei Schleifer, an economics professor, and Jonathan Hay, who now works in London, went to Russia with a $34 million (£18.6 million) government grant from 1992 to 1997. They were accused of defrauding the Government.

Terms of the settlement were not disclosed, including whether the university admits wrongdoing. But a judge had decided that Dr Schleifer and Mr Hay had invested or were planning to invest hundreds of thousands of dollars in Russian companies themselves or through their wives.

Meanwhile, two former Harvard researchers were indicted on charges that they stole research materials from a laboratory at Harvard's Medical School.

Prosecutors say research fellows Jiangyu Zhu and Kayoko Kimbara shipped the materials to the University of Texas, where Dr Zhu was to begin a new job.