Argentina jobless rate at record high
Buenos Aires: On the eve of the 50th death anniversary of Argentine First Lady Eva Peron, a champion of the poor "shirtless"masses, the government reported record unemployment and said poverty continued to spread.
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Tyco taps Motorola CEO to stay afloat
Boston: Tyco International Ltd yesterday vehemently denied stock market rumours of impending bankruptcy, and appointed a former Motorola executive as its new CEO in a bid to polish its sullied image.
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Siemens sells 7 units for $1.7 bn
Frankfurt: Germanys Siemens AG said on Friday it would sell seven non-core engineering units to US private equity house Kohlberg Kravis Roberts for 1.69 billion euros.
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Silicon Valley: when will the bad times end?
San Jose: After the dot-com meltdown and the wider high-tech slump since then, the fear, frustration and dread produced by the recent stock market dive are old hat in Silicon Valley. The main question for the high-tech capital: when will the bad news ever cease?
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New Bill to make escaping debt through bankruptcy tougher
Washington: After arguing for five years, House and Senate negotiators have came to an agreement on a compromise Bill that would make it tougher for Americans to escape overwhelming debt through bankruptcy protection.
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EU, Japan slam US plan to slash farm tariffs
Nara: The European Union and Japan lashed out at a US proposal that would slash farm-goods tariffs worldwide, saying it went against the core principles of global negotiations on farm liberalization.
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A&L unveils share buyback plans
London: British retail bank Alliance & Leicester said investors can look forward to a share buyback later in 2002, as it reported a 12 per cent rise in half-year profits that was at the top end of forecasts.
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Enron, WorldCom scandals to cost US at least $37 bn
Washington: The fallout from the Enron and WorldCom scandals will cost the US economy an estimated $37 billion to $42 billion this year, according to a study.
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US Congress okays corporate reform Bill
Washington: Congress gave final approval on Thursday to a sweeping overhaul of the rules governing corporate America, sending the bill to President George W Bush who has said he will sign it into law.
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Citigroup, J P Morgan asked to explain Enron deals
Washington: A senator leading an investigation into big investment banks' ties with now-bankrupt Enron has asked the heads of Citigroup and J P Morgan Chase to answer questions on their use of offshore companies in deals with Enron.
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