Arthur Young and Ernst & Whinney OK...

Arthur Young and Ernst & Whinney OK Merger: As expected, U.S. partners of both firms overwhelmingly approved their previously announced merger proposal that would create the world’s largest accounting firm. The new firm, to be known as Ernst & Young, is expected to commence operations by Oct. 1. While non-U.S. partners must still formally OK the combination, approval of the U.S. partners was sufficient to seal the combination, an Arthur Young spokesman said.