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Greenback struggles but cushioned
by BOJ wariness
New York: The
dollar stayed on the defensive on Friday amid doubts about Washingtons
commitment to its official strong-dollar policy and the fragile US
stock market, but cautioned over intervention limited selling.
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Fiat
sells 34% in Ferrari to banks
Rome: Struggling
Italian carmaker Fiat on Thursday named a new CEO renowned for his
financial savvy and agreed to sell a chunk of prized sports car unit
Ferrari as it tried to claw itself out of debts and mounting losses.
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UK
bankers charged with Enron-related fraud
New York: The
US department of justice charged three former British bankers with
wire fraud in a $7.3-million scheme involving the collapsed energy
trader Enron Corporation.
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Roche
vitamins biz spin-off to raise cash
New York: Roche
Holding AG will get cash by divesting its vitamins and fine chemicals
business no matter if the deal comes as a spin-off to shareholders or
as a direct sale, the divisions chief said.
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Hagemeyer
sees H1 EPS dip 40%
Copenhagen: Dutch
trading company Hagemeyer NV said on Friday its first-half cash
earnings per share would fall about 40 per cent from the year-ago
level as sales and operating profits in its core unit slumped.
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Philips
to shut Mexican plant, shed 900 jobs
London: Europes
largest consumer electronics group, Philips Electronics NV, said on
Friday it planned to shut a computer monitor plant in Mexico with the
loss of around 900 jobs and move production to China.
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Putin
aide takes over as chairman of Gazprom
Moscow: The
Kremlin consolidated its hold over Russian natural gas giant Gazprom
on Friday, as the deputy head of the presidential administration,
Dmitry Medvedev, was appointed chairman.
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Holland
may become top business destination
Copenhagen: The
Netherlands and Britain have replaced America as the worlds most
attractive business environment over the next five years. The US has
slipped to the fifth place.
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Thomas
Cook losses widen in first half
London: Thomas
Cook, Europes second-biggest tour operator, said on Friday its
losses widened in the six months to April as the company continued to
be hit by the industry-wide crisis sparked by last year's September 11
terror attacks.
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Pfizer
to sell gum, razor units
New York: Pfizer
Inc has said it will sell its gum, mints and razor businesses to
concentrate on its main drug-making business and will buy back up to
$10 billion of stock.
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