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6th of August 2003 News
Ειδήσεις όπως εμφανίστηκαν στην πρώτη σελίδα των New York Times στο 6 Αυγούστου 2003
ASTROPOWER ANNOUNCES LAYOFFS FOR 10% OF WORK FORCE
Date: 07 August 2003
By Bloomberg News
Bloomberg News
AstroPower Inc., the maker of solar-power equipment that was delisted from the Nasdaq stock market in July, said yesterday that it laid off about 55 workers, or 10 percent of its work force, to try to control costs. The company said in a news release that it now employs about 500 people. Last month, AstroPower hired Bridge Associates L.L.C., a turnaround firm, to handle the daily operations and help the company stabilize its finances.
Full Article
BID FOR HISPANIC BROADCASTING SAID TO ADVANCE
Date: 07 August 2003
By Bloomberg News
Bloomberg News
The proposed $2.8 billion purchase of the Hispanic Broadcasting Corporation by Univision Communications has been approved in an initial vote by the Republican majority of the Federal Communications Commission, agency officials said yesterday. The three Republicans, led by the chairman, Michael K. Powell, voted privately last week to approve the merger, said four Washington officials who asked not to be named. Univision, the largest Spanish-language television broadcaster in the United States, and Hispanic, the top Spanish-language radio company, proposed the merger in June 2002. It is possible that the two Democratic commissioners, Michael J. Copps and Jonathan S. Adelstein, who have not yet voted, could secure changes in the proposal or persuade Republicans to switch their votes, the officials said.
Full Article
PROFIT RISES 34% AT PRUDENTIAL FINANCIAL
Date: 06 August 2003
By Bloomberg News
Bloomberg News
Prudential Financial reports quarterly net income rose 34 percent, to $127 million, up from $95 miillion in 2002 period (S)
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HALLIBURTON LOSES APPEAL OF $98.1 MILLION RULING
Date: 07 August 2003
By Bloomberg News
Bloomberg News
The Halliburton Company, a provider of oil field services, lost an appeals court bid to overturn a $98.1 million jury award to its rival, the BJ Services Company. BJ Services claimed Halliburton, which is based in Houston, infringed a patent for a method of hydraulic fracturing, which pumps liquid into the ground at high pressure to break open underground formations so that more oil can be recovered. Halliburton lost an April 2002 trial over the patent. The United States Court of Appeals for the Federal Circuit in Washington upheld the jury finding that the patent was valid and infringed.
Full Article
VANGUARD TO OFFER AGE-BASED RETIREMENT FUNDS
Date: 06 August 2003
By Bloomberg News
Bloomberg News
Vanguard Group to start selling six new funds in fourth quarter that invest in mix of stocks and bonds suited to person's planned retirement date; so-called age-based funds are capturing record deposits this year (S)
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COSTCO CITES INSURANCE COSTS IN EARNINGS WARNING
Date: 06 August 2003
By Bloomberg News
Bloomberg News
Costco Wholesale warns earnings for fourth quarter ending Aug 31 will fall (S)
Full Article
YUCAIPA SUES SAFEWAY OVER BIDDING ON DOMINICK CHAIN
Date: 07 August 2003
By Bloomberg News
Bloomberg News
Safeway Inc., the supermarket chain, conducted a ''biased and unfair sales process'' for its Chicago-area Dominick's grocery store chain and should accept new bids, according to a lawsuit by the Yucaipa Companies. Yucaipa, a Los Angeles-based private-equity company run by the billionaire Ronald Burkle, said that Safeway wanted Yucaipa's participation to make it easier for another buyer to achieve labor peace. A Safeway spokeswoman, Melissa Plaisance, said yesterday that the allegations had ''no basis in fact or in law.'' Safeway has been trying to sell Dominick's since last year after it failed to negotiate a revised labor contract.
Full Article
KEYSPAN REPORTS LOSS AFTER SALE OF CANADIAN ASSETS
Date: 07 August 2003
By Bloomberg News
Bloomberg News
The KeySpan Corporation reported a second-quarter net loss of $5.9 million yesterday, and it cited the costs of selling stakes in Canadian assets. The loss per share was 5 cents after payment of preferred dividends, in contrast to net income of $9.5 million, or 6 cents a share, a year earlier, KeySpan said. Revenue rose 16 percent, to $1.41 billion. Expenses from selling stakes in the gas processors KeySpan Canada and Taylor NGL were $34.1 million, or 22 cents a share, the company said. KeySpan, which is based in New York, used $120 million from the sales to pay debt. KeySpan sells gas to about 2.5 million customers in cities including New York and Boston.
Full Article
FORD PLANS TO CONTRIBUTE $700 MILLION TO PENSION PLAN
Date: 07 August 2003
By Bloomberg News
Bloomberg News
The Ford Motor Company plans to make a $700 million pension contribution for overseas workers by the end of 2003, the vice chairman, Allan Gilmour, said yesterday. The company's pension deficit outside the United States accounted for almost half the total shortfall in 2002. Speaking at an investor conference in Dearborn, Mich., where Ford is based, Mr. Gilmour said the company's American pension plans had a ''double digit'' performance in the first half, without elaborating.
Full Article
MERCK SETS DATE FOR SPINOFF OF MEDCO HEALTH SOLUTIONS
Date: 06 August 2003
By Bloomberg News
Bloomberg News
Merck & Co says it will spin off Medco Health Solutions, pharmacy-benefits manager unit, Aug 19 (S)
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