German airline Lufthansa is to lay off 2,000-4,000 employees in
German airline Lufthansa is to lay off 2,000-4,000 employees in
response to an industry-wide crisis sparked by the September 11
terror attacks, sources close to the company said on Tuesday.
A spokesman for Lufthansa, Thomas Jachnow, confirmed that the
carrier was initiating measures immediately to shed workers but
refused to say exactly how many would be affected. -- AFP
Publicly listed retailer PT Ramayana Lestari Sentosa said
Wednesday that higher sales boosted its nine-month net profit 11
percent to Rp 193.30 billion. Sales during the period increased
17 percent on year to Rp1.622 trillion. -- Dow Jones
Anglo-Dutch consumer products group Unilever said Tuesday it had
agreed to sell its industrial cleaning business, DiverseyLever,
to Johnson Wax in a deal worth about 1.6 billion dollars. Johnson
Wax Professional would pay 1.0 billion dollars cash and provide a
loan note of 279 million dollars. -- AFP
Obayashi Corp, one of Japan's big four general contractors, said
on Wednesday it expected to show a group net loss of 67 billion
yen ($546.5 million) in the current business year, compared with
compared with a 6.47 billion yen net loss in the previous year.
-- Reuters
The European Commission (EC) was Wednesday expected to impose
record fines totaling 850 million euros on Swiss pharmaceuticals
giant Roche, German chemical group BASF and several other
companies for a nine-year conspiracy to control the vitamins
market, The Financial Times reported. -- AFP
The initial public offering (IPO) of Thailand's state oil and
gas company, PTT Plc raised US$631 million, from the sale of 800
million new shares at 35 baht each to foreign and domestic
investors, which will be used to finance a new gas pipeline and
to pay off debt. The sale reduces the Thai government's stake in
PTT, formerly the Petroleum Authority of Thailand, to just under
70 percent. -- Reuters
LTV Corporation, the fourth-largest steelmaker in the United
States that has been in court-ordered reorganization for more
than a year, has asked a US bankruptcy court for permission to
liquidate its assets. "LTV no longer has sufficient liquidity or
sources of other capital to operate the integrated steel
facilities," the company said Tuesday in a statement. -- AFP