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Buffett
to leave Gillette board in 2003
Boston: Gillette on Friday said billionaire investor
Warren Buffett would leave the razor and battery maker's
board next year after more than 14 years as a director,
saying Buffett's own business demands too much of his
time.
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Kenwood now sees H1 profit due to cost cuts
Tokyo: Struggling Japanese audio equipment maker
Kenwood said on Friday it now expected a half year group
net profit after two years of leaking red ink, thanks
to its drastic cost reduction measures.
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Isuzu
gets final nod on lifeline, slashes forecasts
Tokyo: Debt-strapped Japanese truckmaker Isuzu
Motors said on Friday it had received final agreement
from its banks on a financial aid package it requested
in August, including around $800 million in debt-equity
swaps.
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Daewoo
Shipbuilding Q3 net profit up three times
Seoul: South Korea's Daewoo Shipbuilding Marine
Engineering on Friday posted a net profit of 51.6 billion
won in the three months to September, up 319.5 per cent
from a year earlier.
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P&O
Princess accepts revised offer
from Carnival
California: P&O Princess Cruises said on Friday
it welcomed a revised 3.5 billion pound ($5.4 billion)
takeover bid by Miami-based Carnival. P&O Princess
has spent much of the past year fighting off Carnival's
approaches after agreeing to a "merger of equals"
with rival US cruise company, Royal Caribbean.
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MSN
launches new service, sets sights on AOL
Seattle: Microsoft Corp has launched the latest
version of MSN, its Internet service, setting its sights
on market leader America Online, which upgraded its own
service a week ago.
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Amazon
reports narrower loss
New York: Internet retail giant Amazon.com Inc.
Thursday reported a third-quarter net loss on sharply
higher revenues and said aggressive price cutting and
free shipping promotions had helped it accelerate growth
in a generally tough retail environment.
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IBM
builds tiniest computer circuit
New York: International Business Machines Corp.
scientists have built the tiniest computer circuit yet
using individual molecules, a move they say advances their
push toward smaller, faster electronics.
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U.S.
Posts $159 bn budget deficit
Washington: The U.S. government said on Thursday
it ran a $159 billion budget deficit for the 2002 fiscal
year, marking the return to deficit spending less than
two weeks before key congressional elections.
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1,200
Boeing workers to get layoff notice
Seattle: Boeing Company announced plans to issue
60-day layoff notices to 1,200 workers on Thursday as
it nears its goal of eliminating 30,000 employees by the
end of 2002.
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