NATION

NATION
City won't shut offwater to brewery
PITTSBURGH -- Iron City will continue to flow in the Steel City -- at least until January.
The Pittsburgh Water and Sewer Authority said Tuesday it won't make good on its threat to shut off water to the Pittsburgh Brewing Co. -- maker of Iron City and I.C. Light beers -- over unpaid bills. Attorneys for both sides are trying to resolve the $3.8 million billing dispute.
The brewery's 250 jobs aren't in jeopardy, owner Joseph Piccirilli said, and the brewery will pay its November and December bills, which was part of the order signed by Allegheny County Judge Robert Gallo.
Federal funds rateremains unchanged
WASHINGTON --The Federal Reserve left a key interest rate unchanged at a 41-year low Tuesday, giving consumers and businesses more time to take advantage of rock-bottom borrowing costs to help the economy snap out of its listless state.
The Fed opted to hold the federal funds rate steady at 1.25 percent. The funds rate is the interest that banks charge each other on overnight loans and is the Fed's main lever for influencing the economy.
CEO's proposed payirritates judge
NEW YORK -- A federal judge criticized WorldCom Inc.'s proposed compensation plan for its incoming CEO Tuesday, warning he could still hand down a multibillion-dollar fine if the company doesn't show it is truly "committed to reform."
Manhattan federal court Judge Jed Rakoff called on company officials to come to his court Monday to discuss compensation for new Chief Executive Officer Michael Capellas.
A WorldCom filing in bankruptcy court said Capellas would be paid a signing bonus of $2 million, an annual salary of $1.5 million and a $1.5 million bonus guaranteed in 2003.
Associated Press