Wednesday
Feb 28 2001
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DaimlerChrysler to launch mini-mini van
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DAIMLERCHRYSLER on Tuesday announced plans to launch a new mini-mini van this fall in Europe.
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EU to probe GE-Honeywell merger
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THE EUROPEAN Commission has decided to launch an in-depth probe of General Electric's proposed $45-billion buyout of Honeywell International, pushing back a decision on whether to clear the deal by up to four months.
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US Steel and Nucor step up prices
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US steelmaker Nucor said on Monday they have raised prices for some types of steel up to $40 a ton, citing a boost in US demand and a decline in competition from imports.
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Plain-spoken vision in big speech: Bush
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PRESIDENT George W Bush said on Monday that in his big speech on Tuesday night he would offer a "plain-spoken" vision of what to do with burgeoning budget surpluses: Pay for priorities, pay down debt and provide tax relief.
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Ford steps up European recovery plan
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FORD Motor stepped up plans for its European recovery on Tuesday, with a top executive forecasting that its regional operations would break even this year, regain market share and return to profitability by 2002.
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GM signs Russian JV to build, sell Chevy's
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CHEVROLET is going to Russia. General Motors became the first US automaker sealing a deal to set up operations in Russia on Tuesday, signing a joint venture with formerly state-owned AvtoVAZ to make a sports utility vehicle under the label of the American icon.
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Chrysler expects to regain profitability next year
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DAIMLERCHRYSLER ailing Chrysler division expects to be back in the black next year under a $3.9 billion revival plan outlined Monday, looking to quell Wall Street concerns that the 1998 deal that formed the company has been a promise unfulfilled.
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Q3 results will miss expectations: Nike
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NIKE's third-quarter results will fall short of Wall Street's expectations, the world's largest athletics shoe and clothing maker said blaming lower-than-expected US footwear sales.
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HSBC shares post biggest percentage fall in 3 yrs
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HSBC’s stock in Hong Kong posted its biggest percentage drop in three years, dragging other financial stocks down with it, on investor disappointment with the bank’s 2000 results. The stock ended down 7.73 per cent at HK$107.50, after hitting an intra day low of HK$107, its lowest level since December 4.
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Sinar Mas asset sales part of debt solution
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INDONESIA'S troubled Sinar Mas Group on Tuesday confirmed it was selling off assets as part of its plan to repay its mountainous debt.
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HSBC eyes fee income to offset flat loan growth
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HSBC Holdings operations in Asia will look increasingly to fee-based income in 2001 to offset what is expected to be flat loan growth and uncertainties over the US economy, Asia-Pacific chief David Eldon said.
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Self-cleaning glass from Pilkington
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PILKINGTON on Tuesday said it had invented the world’s first self-cleaning glass, giving its shares a lift as investors saw a potential window of opportunity for the UK glassmaker.
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Creditors agree new cash deal for Hyundai Engg
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SOUTH Korean creditor banks have agreed to grant new loans to troubled Hyundai Engineering and Construction if it carries out management reforms, officials said on Tuesday.
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