Prudential H1 profits dip 15% on bond losses
London: British life assurer Prudential Plc posted a 15% drop in half-year operating profits as expected on Wednesday, hit by falling equity markets and bond losses in the US.
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Visa asked to cut fees for merchants
Brussels: The European Commission said it had exempted Visa International today from competition rules, permitting it to charge so-called inter-change fees to merchants who accept Visa cards, but at a reduced rate.
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Piracy attacks on the rise
London: Acts of worldwide piracy have risen 3.6%, from 165 incidents in the first six months of 2001 to 171 for the same period in 2002, the International Maritime Bureau (IMB) said a report.
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European firms stop bond deals
London: European companies facing fundraising problems are postponing bond deals as interest rate rises look less imminent, sidestepping investor demands for higher yields to compensate for current market turbulence.
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Playboy Bunnies hop to Tokyo
Tokyo: Hugh Hefners legendary Playmates have hopped across the Pacific and into Tokyo to stake their claim in a country with one of the worlds most saturated and kinky sex industries. Have the Bunnies bitten off more than they can chew?
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Chase, Citi admit to Enron-style pre-pay deals
Washington: Two powerhouse Wall Street investment banks for years not only helped Enron hide the debt that finally crushed it, but entered into Enron-style pre-pay financing deals with at least 10 other unidentified companies, congressional investigators said on Tuesday.
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WorldCom to hire turnaround specialist: report
Washington: WorldCom is expected to choose a restructuring firm from a list provided by the three financial institutions providing bankruptcy financing within three weeks, The Wall Street Journal reported.
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P&O Princess Q2 earnings beat forecasts
London: Britain's P&O Princess Cruises beat forecasts with second-quarter earnings on Wednesday, hours before EU regulators are tipped to clear a 3.1 billion pound ($4.9-billion) bid for the firm from Carnival.
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SEC chief asked for promotion, raise: report
New York: Harvey L Pitt, chairman of the United States' Securities and Exchange Commission, recently asked Congress for a raise and a promotion, The New York Times reported on Wednesday.
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World economy braving stocks storm: survey
London: The world economy can shrug off the gloom that has engulfed stock markets and maintain a steady recovery through 2002 and 2003 with the help of low official interest rates, according to a Reuters survey.
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