Hedge funds woo a wider audience
New York:Hedge funds, once reserved for the super rich and elite, are now courting less wealthy investors who are fed up with battered mutual funds.
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US economy strongest in the world: Treasury secy
New York:Treasury Secretary Paul O'Neill has said the US economy remains solid, and predicted a long-term recovery for stockmarkets despite the crisis of confidence that has pummeled Wall Street.
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Qwest admits to improper accounting in 1999-01
New York:Qwest Communications, already under federal investigation for its accounting practices, said on Sunday it used improper accounting methods in 1999 through 2001 and will restate its financial results.
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BMW sticks to engines as Formula 1 ambitions grow
Berlin:Formula One motor racing may have become a pulse running through BMW's factories, inspiring engineers and helping to boost sales, but the group on Sunday played down the idea of expanding its activities beyond engines.
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Air Portugal gets 100-mn euro loan
Lisbon:Loss-making flag carrier TAP-Air Portugal has agreed to an eight-year, 100 million euro loan from General Electric unit PK Finance, an airline spokesman said on Monday.
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Bertelsmann names Middelhoff's replacement
Bertelsmann, the world's third-largest media company, said on Monday that chief executive Thomas Middelhoff will be replaced with management board member Gunter Thielen.
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Toyota to boost 2002 global sales plan
Tokyo:Japan's largest automaker, Toyota Motor, said on Monday that it would boost its 2002 group global sales plan to 6.19 million units, a rise of 200,000 units from the original plan.
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Anxiety yes but no panic over US recovery prospects
New York:Volatile stock markets are creating high anxiety, but no real fear yet, that a budding US recovery will be choked off as the Bush administration scrambles to contain investor worries with a campaign of soothing words.
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US consumers blue but weather stock rout
New York:US consumer sentiment was bruised in July but improved in the second half of the month as Americans proved resilient to this month's merciless stock market sell-off.
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Asean to study establishment of anti-poverty bank
New York:Southeast Asia is considering the development of an anti-poverty bank providing loans to poor families and financing small business ventures, according to Asean documents sighted on Sunday.
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