Prosecutors oppose plea to shift Scott Sullivan trial
New York: Former WorldCom executive Scott Sullivan, once the nation's highest paid chief financial officer, should not be allowed to move his fraud trial from Manhattan on hardship grounds, prosecutors said in papers released on Tuesday.
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Japan's Sumitomo, UFJ look to boost finances
Tokyo: Two of Japan's major banking groups took steps to beef up their finances on Wednesday in the latest sign that banks are feeling the pressure from a government drive to clean up the financial system's bad loan mess. Sumitomo Mitsui Financial Group (SMFG) said it would merge two banking units and use the proceeds to erase huge latent losses stemming from Japan's weak stock market.
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White House under pressure to open up oil reserves
Washington: The Bush administration faces renewed requests to free oil from an emergency government reserve and counter tight supplies, especially at Gulf Coast refineries, because of political unrest in Venezuela.
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Amgen, ZymoGenetics settle patent row
New York: Biotechnology companies Amgen and ZymoGenetics have settled a patent infringement lawsuit over technology used in Amgen's popular rheumatoid arthritis drug, Enbrel.
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2003 may be tough on S Korean auto makers
Hong Kong: Hyundai Motor and other South Korean automakers, which have been running their plants at almost full capacity this year, may have a tougher time selling cars at home in 2003 as consumer spending slows.
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China's first 'zero pollution' battery bike launched
Beijing: China's first no-pollution battery electric bike has been launched in Shanghai and is ready for mass production.
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S Korea fines Asiana Airlines, 11 other firms
Seoul: The South Korean government has penalised Asiana Airlines and 11 other companies for false accounting.
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