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AIG
charge shocks insurance industry, drags down shares
New York: American International Group Inc.
sent shock waves across the world insurance industry on
Tuesday, as it admitted it had drastically underestimated
U.S. liability claims on its books.
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Microsoft
asks court to throw out Sendo lawsuit
Seatle: Microsoft Corp. has asked a federal judge
to dismiss a lawsuit by British cellphone maker Sendo,
saying there was no basis to Sendo's charges that it stole
technical know-how and pushed it to the brink of bankruptcy.
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Colgate-Palmolive
net up 15 per cent
New York: Colgate-Palmolive said its Q4 profit rose
15 per cent as it posted its largest sales gain in more
than five years, boosted by new consumer products like
Simply White tooth whitener.
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Nestle
to buy Hutch's bottled water unit
New York: Nestle, the world's largest food company,
said it will pay 560m euros ($603m) for Hutchison Whampoa's
European bottled water unit, adding the Powwow brand to
a line-up that includes Perrier, Sanpellegrino and Vittel.
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Creditors
sue Enron's ex-CEO for $70m
New York: Creditors for Enron have asked a court to
order the company's former chairman Kenneth Lay and his
wife to hand over more than $70m in loans they received
from the bankrupt energy trader, according to a copy of
the suit obtained on Monday.
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AIG
to take $1.8-billion charge
New York: American International Group Inc. said on
Monday it would take a $1.8 billion after-tax charge as
it set aside cash to pay higher-than-expected claims by
U.S.
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Bush
announces multi-billion dollar BioShield for America
Washington: US President George W Bush has announced
a multi-billion-dollar 'BioShield' for America in order
to make available safer and more effective vaccines against
agents like smallpox, anthrax and plague to defend the
nation from terrorists who may use bioweapons.
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