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Konica,
Minolta in merger talks
Japan's Konica and Minolta said on Tuesday they were holding
merger talks, which would create a camera and precision
equipment maker with annual sales
topping one trillion yen ($8.4 billion).
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Bunge,
DuPont form health food venture
DuPont, the largest US chemical company, and Bunge, the
world's top oilseed processor, are forming a joint venture
to make soy ingredients, the two firms said on Monday,
tapping into the fast-growing, multibillion-dollar market
for health foods.
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Optimism
outstrips reality at auto show
A funny thing was happening at the world's most important
auto show this week. Nearly all the major carmakers were
predicting US sales would increase in 2003, and many forecast
market share gains as well.
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Glaxo
builds asthma pipeline with $495-mn deal
GlaxoSmithKline, Europe's biggest drugmaker, said on Monday
it had secured rights to experimental respiratory drugs
from a privately held US biotechnology company in a deal
worth up to $495 million.
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United
Airlines cuts business fares from two hubs
United Airlines, seeking ways to boost revenue as it operates
in bankruptcy, on Monday said it would slash the priciest
business fares to and from its two biggest hubs in Chicago
and Denver by as much as 40 per cent.
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Bush
to propose eliminating dividend tax
As the centrepiece of his economic growth package, US
President George W Bush will propose wiping out the taxes
shareholders pay on dividends, a step that would cost
the Treasury more than $300 billion over a decade, a senior
administration official said on Monday.
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Slovenia's
Lek launches generic Glaxo drug in US
Swiss-owned Slovenian drugmaker Lek took aim at GlaxoSmithKline
on Monday, saying it had started selling the generic form
of British company's blockbuster antibiotic Augmentin
in the United States.
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NASD
may expand probe to include Merrill's top management
The National Association of Securities Dealers, which
has informed former internet analyst Henry Blodget that
he could face regulatory charges over his research picks
while at Merrill Lynch, is turning its attention to Blodget's
supervisors as part of its probe, the Wall Street Journal
reported on Monday.
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AT&T
to lay off 3,500, take $1.5 bn charge
AT&T, the No. 1 US long-distance telephone company,
said on Monday it will take $1.5 billion in charges as
it cuts about 3,500 jobs, or about five per cent of its
work force, and writes down the value of some Latin American
and high-speed Internet assets.
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Oldies
acts drive concert ticket sales to record
Veteran pop stars such as Paul McCartney, the Rolling
Stones and Cher helped drive North American concert ticket
sales to a record $2.1 billion last year, thanks to fans
who forked out up to $350 each for the privilege of seeing
their idols.
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