Hyundai Motor plans to recall over 2,77,000 cars
Seoul: Hyundai Motor Co, the South Korea based auto major, will recall 277,455 compact cars and sport utility vehicles sold domestically for free repair over problems related to engines and other parts.

This move comes as some of its Avante XD and Tuscani compact models are due to be recalled because of defect related problems in their engines.

The recall also includes sport utility vehicles, such as the Santa Fe and Trajet models to replace parts related its exhaust system, the Ministry of Construction and Transportation said.
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WorldCom revises financial outlook for 2003-2005
New York: WorldCom, the No. 2 US long-distance carrier, now bankrupt, has revised its financial outlook for 2003 through 2005, saying its revenue targets will be difficult to reach due to pricing pressures.

The company said it expects revenue of $24.5 billion in 2003, $24.6 billion in 2004 and $25 billion in 2005 against previously expected figures of $24.7 billion in 2003, $25.8 billion in 2004, and $27.8 billion in 2005.

It also projected smaller profits through 2005 than previously forecast.

WorldCom blamed the revenue decrease on new rival calling packages, new high-speed Internet service offers and the recent telemarketing Do Not Call list. Collectively those have cut consumer and small business rates in some markets as much as 40 percent since April, WorldCom said.
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HP looks to be No 2 in Euro services with mega deals
Cernobbio (Italy): Hewlett-Packard is targeting to become the second biggest player in Europe's computer services market by the end of 2003, and for this it has several $1bn deals in the pipeline according to a company executive.

HP pole vaulted into the market computer services in April, when it netted a $3bn deal with consumer goods giant P&G and a contract worth more than $1bn with Swedish network gear maker Ericsson.

At a European Union conference on e-government HP officials said, the company is pursuing more deals in Asia, America and Europe, which are estimated to be over $1bn with which it expects to be number two in Europe by the end of 2003.
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