M&As seem out of favour, but Europe still beats US
London: Global corporate takeover activity fell in the first half and there is little hope of a turnaround this year, but second-quarter figures show Europe leading the US.
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President Bush to crack down on corporate misconduct
Washington: Eager to shed a pro-business image that has become a liability following a wave of accounting scandals, US President George W Bush is finalising new measures to crack down on corporate misconduct with criminal penalties and jail time for the worst offenders.
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Kingfisher to take over Castorama for 3.2 billion
Paris: Kingfisher Plc got the green light to seal a 3.2-billion  ($4.86-billion) buyout of French retailer Castorama after anindependent  bank ruled the bid fair.
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World Cup didnt boost markets in Japan
Tokyo: The soccer World Cup, co-hosted by Japan and South Korea in June 2002, failed to give at least one sector of the Japanese economy -- shops and restaurants -- the boost that had been expected, a government survey showed on Monday.
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Ex-WorldCom executives to refuse to testify
New York: WorldCom Inc executives will face tough questions from lawmakers about how a $3.85 billion accounting error at the telecommunications giant escaped notice for over a year.
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Japan to retaliate on US steel tariffs by late August
Tokyo: Japan has set a late August deadline for retaliating against US steel tariffs and will work with the European Union to resolve the international trade dispute in the meantime, a trade official said on Monday.
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New Roche drug offers lifeline to AIDS patients
New York: A revolutionary AIDS drug from Roche that stops the HIV virus from entering cells may offer new hope to thousands of patients resistant to current therapies.
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Aegon, Prudential in race for Sony Life
Tokyo: Sony is likely to enter final negotiations with US-based Prudential Insurance or Aegon NV of the Netherlands regarding the sale of its 50-per cent stake in Sony Life Insurance by the end of this month, company sources said.
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China not to give loan to Pak for Neelum-Jhelum hydropower project
Beijing: China has refused to extend $50 million loan to Pakistan for the $1.5- billion Neelum-Jhelum hydropower project, asserting that it will not give more loans unless the ongoing projects are completed.
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