Xerox plans to issue more shares to retire debt
New York: The troubled copier-maker Xerox will ask shareholders to approve a proposal to increase its number of shares by 66 per cent in order to give it  the ability to fund its maturing debt, according to a regulatory filing.
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SAS sells travel booking unit to Amadeus
Copenhagen: Scandinavian airline SAS said on Friday it sold its electronic travel booking group Smart to Spain's Amadeus for one billion crowns ($107.2 million) as it slims down operations to meet the downturn in business travel.
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Japan Airlines to join cargo alliance with Lufthansa, others
Tokyo: Japan Airlines Company Ltd said on Friday it has agreed to join the worlds largest cargo alliance, comprising Germanys Lufthansa AG, Singapore Airlines Ltd and Scandinavian airline SAS.
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Airbus says it has not burnt cash in first half of 2002
London: European planemaker Airbus SAS has not eaten into its cash reserves in the first half of 2002, despite the industry downturn and heavy investment in developing its new superjumbo A380 jet, its chief executive said on Friday.
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Free trade, WTO on agenda of Asean meet
Geneva: Southeast Asian trade and economic ministers gathered on Friday for a weekend that will blend golf with discussions on the region's financial future -- including a pact with China that would create the world's largest free-trade area.
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WorldCom bondholders planning to swap debt for equity
New York: WorldCom's bondholders are considering a proposal to swap their debt for equity in a pre-arranged Chapter 11 bankruptcy protection filing, The Wall Street Journal said in a report on Friday.
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Japan approves AstraZeneca's lung cancer medicine
Tokyo: Europe's second biggest drugmaker AstraZeneca said on Friday that Japan has become the first country to give market approval to Iressa, its treatment for lung cancer.
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Justice dept wants WorldCom's internal probe stopped
New York: The US justice department is seeking to curtail WorldCom's internal probe into accounting irregularities to allow the government to first conduct its own inquiry at the company, the Wall Street Journal reported on Friday.
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Cathay aims at China after losing Taiwan share
Beijing: Stung by losing market share to hometown rival Dragonair on the lucrative Hong Kong-Taipei route, Cathay Pacific Airways is lobbying to recover rights to fly to mainland China after a 12-year absence.
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E.ON poised to buy Ruhrgas for 4-billion euros
Frankfurt: Germanys E.ON AG said on Wednesday it is poised to take full control of the countrys biggest gas distributor, Ruhrgas, after agreeing to pay 4.1bn euros for the 40 per cent stake it does not already own.
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Insurance in crisis as companies close in Australia
Sydney: From surgeons to school children, to revellers at the gay and lesbian Mardi Gras, Australians are reeling from an insurance crisis which hit crunch time this week following the end of the financial year.
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