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US steel cos seek more protection
Washington: Lawmakers on Thursday urged a US trade panel to increase duties
on steel imports from 20 countries, one day before the European Commission
is scheduled to recommend whether Brussels should retaliate for other steel
tariffs the US has imposed.
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Norway wants more women in boardrooms
Norway is taking a battering ram to the old-boys network in the boardroom.
Embarrassed that women hold just 7.5% of boardroom slots, the government
announced that it will require Norways 650 public companies to appoint
women to at least 40% of all board posts by 2005.
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Sears beats street, Q2 net at $420m
Llinois: Retailer Sears, Roebuck & Co said that its credit business helped
it report a Q2 profit well above estimates despite a dip in revenues.
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US trade deficit up to record $37.6 bn in May
Washington: The United States trade deficit ballooned to a record $37.6
billion in May, reflecting Americans' ravenous appetite for foreign-made
cars, TVs and clothes.
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Philip Morris net up on international revenues
New York: Philip Morris Cos., parent of the world's No. 1 tobacco company, on
Thursday said higher prices and international cigarette revenue helped drive
its quarterly profit up 8 per cent, despite a decline in US cigarette shipments and
revenue.
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Samsung Electronics posts record Q2 net
Tokyo: Samsung Electronics, the world's largest maker of computer memory
chips, said on Friday second quarter net profit more than doubled to a
record 1.92 trillion won ($1.6 billion), led by semiconductor and appliance
sales.
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BoJ expects no further dollar decline
Tokyo: The Bank of Japan governor Masaru Hayami said on Friday that the
dollar, whose weakness against the yen has alarmed Japanese authorities, did
not have much reason to fall further and suggested the currency as an investment.
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