News Corp is lone bidder for DirecTV
New York: An attempt by US telephone company SBC Communications to buy satellite TV provider DirecTV from General Motors has broken down. This leaves Rupert Murdoch’s News Corp as the only serious bidder.
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Hathaway to buy Clayton for $1.7bn
New York: Berkshire Hathaway will buy Clayton Homes, a builder of manufactured homes, for about $1.7bn, the two companies said.
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C&W rejigs top brass, brings in Francesco Caio as CEO
London: Struggling Cable & Wireless named a veteran of the telecom industry, Francesco Caio, as its new CEO on Wednesday as it tries to restore confidence in the 131-year old firm.
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WHO issues travel alert for HK, South China
Geneva: The World Health Organisation issued a warning on Wednesday against travelling to Hong Kong and the southern Chinese province of Guangdong because of mounting cases of a killer mystery pneumonia.
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ImClone takes $23m charge on ex-CEO's tax slip-up
New York: Imclone Systems said its former chief executive, Samuel Waksal, failed to pay income tax on the exercise of certain stock options and that it will take a charge of $23.3m to account for the omission.
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Global airline crisis takes another victim
Ottawa: Air Canada, the world's No. 11 carrier, filed for bankruptcy protection on Tuesday and more major airlines announced cuts in jobs and flights to cope with the crisis in global aviation made worse by the Iraq war.
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