11 Apr 2005 07:42 AM

Ernst & Young attacked Equitable Life saying the mutual life assurer is "pouring its policyholders’ money down the drain" as it launched a lawsuit on charges of negligence against its former auditors. The trial in which Equitable is seeking damages of £2.05 billion from E&Y and £1.7 billion from former directors will start today

11 Apr 2005 07:17 AM

LG.Philips LCD, the world’s second-largest maker of LCD displays, reported on Monday that it swung to a first-quarter net loss due to weak LCD display prices.

09 Apr 2005 03:39 AM

Nomura Holdings Inc., Japan’s biggest brokerage, plans to expand its business by founding asset management and investment banking ventures in China.

08 Apr 2005 06:49 PM

Boots Group PLC, the UK largest drugstore chain, may be offered a buy-out deal by at least four private-equity firms, including Blackstone Group and Texas Pacific Group, people familiar with the matter said.

08 Apr 2005 05:11 PM

American billionaire financier Carl Icahn has an option to nominate candidates for the board of Blockbuster Inc. in an attempt to take the company under control as soon as next year.

08 Apr 2005 12:00 PM

Bid for a Singapore real-estate investment trust by Ergo Versicherungsgruppe AG, German insurance company, faces risks as the bondholders can wind up the deal this month, people familiar with the matter said.

08 Apr 2005 11:37 AM

Russia is going to repeal all limitation on foreign ownership of the world’s biggest gas producer OAO Gazprom this year, Russia’s economics and trade minister said Wednesday.

08 Apr 2005 10:57 AM

Blackstone Group LP and other investors that have an option to bid for Italian telephone company Wind SpA will probably receive a 6.5 billion euro ($8.4 billion) buyout loan from Citigroup and other leading banks. The deal is expected to be the largest ever on European market, topping a 4.3 billion-euro funding in 2003 for BC

08 Apr 2005 10:02 AM

About 6,000 jobs may be lost after the failure of the UK carmaker MG Rover to be picked up by the potential Chinese partner on Thursday, according to the governement’s report. The

08 Apr 2005 09:44 AM

A new offer from Verizon for its consumers presents VoiceWing Internet-based service in more than 30 states with unlimited local and long-distance calling for $34.95. For Verizon DSL subscribers will enjoy the discount to $29.95, said Kevin Laverty, a Verizon spokesman.

08 Apr 2005 09:33 AM

Sony Computer Entertainment America Inc. sold more than 500,000 units of the Playstation Portable hand-held video game systems in North America during its first two days on the market. In

08 Apr 2005 09:32 AM

Qwest executives are working behind the scenes to raise $2 billion from investors to increase the cash portion of its takeover bid for MCI, sources said Thursday.

08 Apr 2005 08:28 AM

On Thursday, the Food and Drug Administration (FDA) decided not to pull Celebrex out of the market despite suspicions of its link to cardiac cases. The decision cheered Merck & Co.’s investors hoping that its Vioxx would also soon return to the market.

08 Apr 2005 07:49 AM

The US bankrupt operator Adelphia Communications Corp. agreed to be bought by the media group Time Warner Inc. and the US leading cable TV operator Comcast Corp. for $18 billion, according to Reuters.

08 Apr 2005 03:28 AM

Peter Mandelson, Europe’s trade commissioner, on Wednesday declared the possibility for imposing import boundaries on Chinese-made textile if the surge its exports brings some danger to European manufacturing process.