NYSE pay probe continues

Former New York Stock Exchange chairman Richard Grasso will appeal against a judge's decision to hear a key claim in a lawsuit over his US$193 million pay package without a jury.

A bench trial has been scheduled for this week to consider New York Attorney General Eliot Spitzer's claim that Grasso's compensation was unfair.

Spitzer sued Grasso in 2004, seeking the return of at least US$100 million, saying his pay was excessive under state non-profit law.