Floods continue to hit Europe, mop-up costs likely at $20bn
Berlin: Flood waters burst through sodden dykes protecting the historic eastern German town of Wittenberg on Monday, as thousands battled to reinforce sagging flood defences along the swollen River Elbe.
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Dont pay child support, go to jail
New York: US federal agents have arrested dozens of fathers in 29 states in an effort to force them pay up millions they owe in child support.
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Andersen sells off artwork
New York: Arthur Andersen is liquidating some of the art work from its offices in Atlanta, Charlotte and Nashville. Gordon Ponsford, owner of Ponsford Ltd in Acworth, organised the sale at the companys request, cramming about 400 discounted pieces on to the second floor of the Ann Jackson Gallery. After a preview last week, the sale started Friday.
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Chrysler to take Dodge overseas
Pebble Beach: DaimlerChrysler AG is considering expanding its Dodge brand to overseas markets, including Europe and Australia, due to interest in its Viper sports car and its pickup trucks, said Jim Schroer, executive vice-president of Chrysler sales and marketing.
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Tokyo govt hedges risk, to keep some deposits in foreign banks
Tokyo: In a virtual vote of declining confidence in Japans banking system, the Tokyo metropolitan government plans to put part of its cash pile of one trillion yen ($8.5 billion) into foreign banks in Japan. The unprecedented decision by city government, headed by outspoken nationalist governor Shintaro Ishihara, comes at a time when faith in Japans bad-debt burdened banks is crumbling.
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Nasdaq calls quits on Asia
Tokyo: Citing bad market conditions, the US-based Nasdaq Stock Market called an end to expansion in Asia on Monday and said it will refocus on Europe.
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Argentina's bank deposits rise: reports
Buenos Aires: Total bank deposits in Argentina have risen in recent weeks, a rare positive sign for the country's beleaguered financial system, media reports said.
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Business buys into earth summit, but at what price?
Johannesburg: Lush rainforest trees drip with dew, pristine beaches flank crystal clear seas and the sky is a heavenly blue.
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Anti-fraud Act to affect firms outside US
Mumbai: When President George Bush signed the Sarbanes Oxley Act (SOA) 2002, people expected tough measures to stamp out corporate fraud. What was not very well known, as is only now becoming apparent, is that the SOA applies to companies outside the US in fairly wide-ranging ways.
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