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23rd of November 2002 News
Ειδήσεις όπως εμφανίστηκαν στην πρώτη σελίδα των New York Times στο 23 Νοεμβρίου 2002
NEWELL RUBBERMAID AGREES TO ACQUIRE AMERICAN SAW
Date: 23 November 2002
By Bloomberg News
Bloomberg News
Newell Rubbermaid Inc., the maker of Calphalon cookware, agreed to buy the closely held American Saw and Manufacturing Company for $450 million in cash to expand its power-tool accessories and hand-tools business. The transaction is expected to add 4 cents to Newell Rubbermaid's per-share earnings next year, the company said in a statement yesterday. American Saw, based in East Longmeadow, Mass., had sales last year of $185 million, Newell said. Newell is based in Freeport, Ill.
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BOSTON PROPERTIES SELLS ASSETS FOR $345 MILLION
Date: 23 November 2002
By Bloomberg News
Bloomberg News
Boston Properties Inc. sold 1 and 2 Independence Square in Washington for $345 million to the Wells Real Estate Investment Trust, part of a strategy to sell off assets after its $1.06 billion purchase of the headquarters of Citigroup Inc.'in New York. Boston Properties, the third-largest office real estate investment trust, used the proceeds to pay off $190 million of first mortgage debt and to pay down unspecified unsecured debt, the company said. The company, headed by the publisher Mortimer Zuckerman, bought Citigroup's 39-story tower at 399 Park Avenue in August for $631 a square foot, close to a record on a per-foot basis for a New York office building.
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TESORO, IN NEED OF CASH, FINDS NEW BUYER FOR PIPELINE
Date: 23 November 2002
By Bloomberg News
Bloomberg News
The Tesoro Petroleum Corporation, an oil refiner, agreed to sell an oil-products pipeline to Kaneb Pipe Line Partners for $100 million in cash after canceling a $110 million deal with Williams Energy Partners. Tesoro, which needs cash to comply with the terms of its debt agreements, said it sought another buyer for the 400-mile pipe after failing to resolve concerns by the Federal Trade Commission about the sale to Williams Energy. The sale will provide the refiner with most of the $175 million it has promised to raise by year's end, when lenders agreed to refinance $1.28 billion in debt two months ago. Tesoro is based in San Antonio.
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International Briefs | Europe: France: Economic Growth Slows
Date: 23 November 2002
By Bloomberg News
Bloomberg News
The French economy grew at an annual rate of 0.8 percent, compared with the second- quarter pace of 1 percent, the government said, as cutbacks by companies in investment and inventories offset gains in consumption and exports. ''Without consumption, G.D.P. would have shrunk,'' Emmanuel Ferry, an economist with the brokerage firm of Exane in Paris, told Bloomberg News. ''If consumers lose heart in November and December, the economy could shrink in the fourth quarter.'' France's report came a day after Germany reported growth of 0.4 percent in the quarter; last week, Italy reported growth of 0.5 percent.
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Biggest Fish in a Big Pond
Date: 23 November 2002
By Bloomberg News
Bloomberg News
Globalization has had little effect on United States monetary policy decisions because foreign events rarely have a major influence on the economy, said Robert Parry, president of the Federal Reserve Bank of San Francisco. ''Globalization has not changed the goals or conduct of U.S. monetary policy to any great extent,'' Mr. Parry said at a Philadelphia conference on policy making. While Fed officials do take developments in other countries into account, ''for the most part, the effects on policy making are at the margin,'' he said.
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International Briefs | Asia: China: Moody's Raises Outlook
Date: 23 November 2002
By Bloomberg News
Bloomberg News
Moody's Investors Service raised its outlook on China's long-term foreign-currency bonds to stable from positive, citing a surge in exports that have helped lift the nation's currency reserves. The change, the first in almost four years, means that Moody's is more likely to raise China's A3 rating from the seventh-highest investment grade out of 10 levels. China's foreign reserves have risen by a quarter this year, to $266 billion, which Moody's said comfortably exceeded foreign debt. ''China's reserves cover seven years of debt payments, which is the highest in Asia, and China is becoming the manufacturing hub for Asia,'' said Vincent Low of Merrill Lynch in Singapore.
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Wyeth Vaccine Move to Affect 800 Jobs
Date: 23 November 2002
By Bloomberg News
Bloomberg News
Wyeth's decision to stop making an influenza vaccine will affect 800 jobs, the company said today. Wyeth will eliminate positions and reassign workers, a spokesman, Lowell Weiner, said; he declined to give details.
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Broadcom Cuts Work Force by 16%
Date: 23 November 2002
By Bloomberg News
Bloomberg News
The Broadcom Corporation today laid off more than 500 workers, or 16 percent of its work force, and consolidated units to reduce costs amid slumping sales of some lines of computer chips. In an interview, the company's chief executive, Henry Nicholas, declined to say precisely how many jobs were cut. Broadcom combined groups that develop chips for big telecommunications networks and that make chips for office networks because of slow growth in the former business, he said. The company did not eliminate any product lines, he added.
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NEWS SUMMARY
Date: 24 November 2002
INTERNATIONAL 3-17 Pakistan and North Korea Involved in Nuclear Barter Pakistan has used an American-built transport plane to carry ballistic missile parts as part of a bartering operation with North Korea, intelligence officials have learned. The transactions now appear much deeper and more dangerous than the United States and its Asian allies first suspected. 1 North Korea asked South Korea to join in pressing America to sign a nonaggression treaty. The request comes as the United States, Japan and South Korea have initiated sanctions for North Korea's violation of nuclear arms control agreements. 20
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NEWS SUMMARY
Date: 23 November 2002
INTERNATIONAL A3-8 Saudi Links to Attackers Were Ignored, Report Says A draft report by the joint Congressional committee investigating the September 2001 terror hijackings has concluded that the F.B.I. and C.I.A., in their investigations after the attacks, failed to pursue aggressively leads that might have shown that Saudi Arabia was linked to the attackers, senior government officials said. A1 Putin Questions American Allies President Vladimir V. Putin of Russia raised questions about the reliability of two American allies in the campaign against terrorism, Pakistan and Saudi Arabia. He also suggested that the disappearance of Osama bin Laden is a major piece of unfinished business. A1
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