US fund takes WorldCom, Citi to court
New York: A $400-m pension fund in Maryland filed a lawsuit to recover losses from the auditor and the major underwriters of WorldCom bonds purchased by the fund, the plaintiff's law firm said on Friday. The lawsuit calls for “full recovery” of losses relating to the purchases of the bonds, the firm of Milberg Weiss Bershad Hynes & Lerach said in a statement.
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BA, KLM officials play down merger talks
London: Officials from British Airways and Dutch airline KLM brushed off a report in a Sunday newspaper that the pair might be planning to rekindle merger talks at a meeting this week.
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Fiat agrees to sell Toro to De Agostini
Milan: Fiat said on Saturday it would sell its insurance arm Toro to Italian publisher De Agostini for 2.4 billion euros ($2.55 billion), raising vital cash to tackle losses and debts.
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Test developed to diagnose mystery illness
Geneva: Scientists said on Saturday they believe they have developed a test for diagnosing the mysterious flu-like illness that has sickened hundreds in Asia -- a crucial step in slowing the disease's spread.
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Fed may spring either way
New York: Financial markets may be amazed at the speed of progress of the war in Iraq, but that pales next to the incredulity that followed hints the Federal Reserve might raise interest rates this year.
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