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Hyundai in wage deal with workers
Seoul: South Koreas largest automaker, Hyundai, said on
Tuesday the company had reached an agreement with the union on wages
and bonuses, averting a planned full strike.
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Digital
camera sales to jump
New York: US digital camera sales are forecast to jump 30 per
cent this year, but most consumers don't want to junk their
traditional film camera just yet.
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US
facing accounting reform clash
New York: Capitol Hill is arming for a major battle on Tuesday
over whether to impose reform on US accountants after Enrons
collapse and the conviction over the weekend of the company's auditor,
Andersen.
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Swiss,
US banks face apartheid lawsuits
New York: A US lawyer who helped force Swiss banks into a $1.25
billion settlement for Nazi victims said on Monday he would file suit
against Swiss and US banks for propping up South Africas former
apartheid regime.
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Singapore
losing jobs to cheaper Asian rivals
Singapore: Singapore is fast losing jobs in sectors that used
to be its economic pillars, mostly to China and other cheaper Asian
countries, the city states umbrella labour union organisation said.
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Nasdaq,
German banks to set up SE
New York: Nasdaq, the US stock exchange, plans to launch a
German stock market together with Commerzbank AG and Dresdner Bank AG
to rival Deutsche Boerse, banking sources said on Monday.
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EU
to clamp down on cigarette sales to minors
London: Seeking to do more to prevent people from starting to
smoke, the European Union's head office proposed measures Monday to
make it harder for children and teenagers to buy cigarettes.
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Nestle
scoops up Dreyer's ice-cream
New York: Nestle SA will merge its US ice-cream business with
US market leader Dreyer's Grand Ice Cream to become the global
co-leader in the segment, the world's biggest food company said on
Monday.
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Enron
paid $680 million to managers
New York: Collapsed energy giant Enron Corporation is expected
to report on Monday that it paid about $680 million in cash and stock
to 140 senior managers, even as it prepared to file for
bankruptcy-court protection, the Wall Street Journal reported.
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Vivendi
may sell tech unit to clear debt
New York: Vivendi Universal SA is likely to put its Canal Plus
Technologies unit up for sale shortly, according to industry players,
in a deal that could raise over 500m euros ($474.4m) to help the
French-US media and utilities company pay off debt.
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ICI
offloads 30% in CSFB JV for $430 million
London: Britains Imperial Chemical Industries said on Monday
that it had agreed to sell 30-per cent stake in its Huntsman
International JV with CSFB Global Opportunities Partners earlier than
expected.Britains biggest chemicals maker said it would receive
$430 million, before interest, for the sale of its interests in the
bulk chemicals operation by 15 May 2003, $160 million of which had
been pocketed.
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Merck
plans to appeal excise order with Cegat
Berlin: The Rs 338-crore Merck, a subsidiary of German
drugmaker Merck KGaA, plans to appeal an order of the Commissioner
(Adjudication) of Central Excise, Mumbai upholding an excise demand of
Rs 6.95 crore on the company, including penalty.
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