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Tax
shelter plans deal fresh blow to accounting firms
Washington: The accounting industry, buffeted in
'02 by tough, post-Enron regulations and witnessed the
demise of the venerable Andersen, is under fire again
for the lucrative business of dreaming up tax shelters.
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Philips
suffers biggest net loss
Amsterdam: Europe's largest consumer electronics
group Philips plunged to the biggest net loss in its history
last year due to hefty one-off charges and said on Tuesday
it saw no short-term economic recovery.
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Clariant
incurs $476m '02 loss
Zurich: Swiss specialty chemicals group Clariant
on Tuesday reported a ’02 loss of 648m Swiss francs
($476.1m), two weeks before it had been scheduled to release
results, and said it would not pay a ’02 dividend.
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BMW
sales down 7.5 per cent
Frankfurt: German luxury carmaker BMW said on Tuesday
it had sold 7.5 per cent fewer of its BMW brand cars in
January than in the same month last year, as key models
aged before forthcoming updates.
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Foster's
H1 profits up 4% to $198m
Melbourne: Australian brewer and winemaker Foster's
Group posted a modest 4.1% rise in first-half profit on
Tuesday, and warned tougher competition in the wine industry
meant it would struggle to meet its full-year targets.
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