Coca Cola to cut 1,000 jobs in restructuring
New York: Coca-Cola Co. announced on Thursday that it was cutting 1,000 jobs as it consolidated its three main business units in North America, the largest and most important market for the soft drink giant.
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Germany's FC Kaiserslautern on verge of bankruptcy
Frankfurt: Germany's FC Kaiserslautern will have to declare bankruptcy if forced to pay €8.9 million euros ($9.6 million) in back taxes immediately, the chairman of one of Germany's biggest clubs said on Thursday.
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Ted Turner to go as AOL Time takes $100-bn hit
New York: AOL Time Warner, the world's largest media company, Wednesday said Ted Turner intends to step down as vice chairman of the company.
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KPMG fights charges of audit fraud in Xerox
New York: In a move analysts say departs from the norm in the usually reticent accounting industry, KPMG is going on the offensive in response to charges filed by regulators that its audit of copier maker Xerox was fraudulent.
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Dow Chemical to cut up to 4,000 jobs
California: Dow Chemical, the No. 1 US chemical maker, on Thursday said it planned to close two Texas plants and cut up to 4,000 jobs, while it also said it would cut spending this year by about 25 per cent.
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