05 Apr 2005 06:37 AM

Japan yesterday stepped forward with a plan to privatize its huge postal service system that is by some indicators the largest financial institution on the globe as part of the campaign to reduce the size of the nation’s public sector. Japan’s post office has savings and insurance units that manage about 350 trillion yen

04 Apr 2005 07:10 PM

European auto makers, already having rivals among low-cost Japanese and South Korean brands, may soon face another threat - Chinese cars. And U.S. auto makers will be monitoring the situation. A growing number of European importers are cooperating with Chinese auto makers to bring Chinese cars to European

04 Apr 2005 02:09 PM

ChevronTexaco Corp., the nation’s second biggest oil concern, is acquiring rival Unocal Corp., number nine in the U.S. oil and gas exploration and production industry, for about $16.4 billion in cash and stock, the announcement came yesterday. ChevronTexaco is reported to assume $1.6 billion of debt in the deal.

04 Apr 2005 12:34 PM

Qwest Communications said on Monday it has provided to MCI the merger agreement. MCI’s refusal was followed by their own «superior proposal», according to the company’s officials. The

04 Apr 2005 07:43 AM

Matsushita Electric Industrial Co. and LG Electronics Inc. settled a five-month dispute over alleged trespass patents on their plasma display technology. Both parts decided to settle the lawsuit amicably cutting a cross-license agreement on their technology, the companies

01 Apr 2005 07:46 PM

Two global PC producers have some doubts concerning the influence of European antitrust regulators trying to limit Microsoft’s power to leverage its dominant Windows operating system in other computer areas. Dell Inc. says it is not going to sell the version of Windows that doesn’t include Microsoft’s Media Player, as well

01 Apr 2005 03:43 PM

Japanese antitrust authorities are likely to be satisfied with their order concerning discount elimination that regulators charged had illegally kept competitors out of the market, Intel Corp. says. In contradiction to this statemen,t Japan Fair Trade Commission reassures that antimonopoly laws’ violation never

01 Apr 2005 02:41 PM

Recent rumors about J.C. Penney Co. Inc.’s potential takeover forced its shares to zoom and bonds fall on Thursday, even as the retailer indicated this information to be groundless. However, J.C. Penney’s officials declined to give more detailed comments. They hinted only that all the strategies to increase its "leadership position

01 Apr 2005 10:33 AM

Two private equity companies that are about to acquire Danish cleaning services firm ISS face the danger of leverage buyout bonds. Goldman Sachs Capital Partners and EQT’s bid ISS that amounts to $3.8 billion may create some risks linked

01 Apr 2005 08:23 AM

The world’s fifth-biggest carmaking company DaimlerChrysler AG said it has an option to spend as much as 1.2 billion euros ($1.6 billion) to revamp its Smart unit.

01 Apr 2005 07:50 AM

Irish pharmaceutical firm Elan seems forced to announce a selling-off program at the end of this month after Wednesday’s announcement about the death of the patient who was enrolled in a clinical trial testing Tysabri because

01 Apr 2005 07:33 AM

Three US investment companies raised their total for China’s computer maker Lenovo to $350 million amid the company’s possible purchase of IBM’s PC unit. The

01 Apr 2005 07:11 AM

Qwest Communications hiked its counterbid for MCI in an attempt to grab the company that agreed to be purchased by Verizon some time ago. A new offer from Qwest amounts to $8.9 billion, far more than Verizon’s bid of$7.65 billion accepted by MCI on Tuesday. But MCI is expected to reconsider the hostile bid from Qwest that is much more lucrative.

01 Apr 2005 07:11 AM

General Motors Corp.’s China unit named the successor for the ousted Philip Murtaugh who stepped down as the unit’s chairman and managing director «for personal reasons». Kevin Wale, chairman of Vauxhall Motor and GM’s UK operations, will replace Murtaugh as the unit’s chairman

31 Mar 2005 10:59 AM

Freddie Mac, one of the biggest American mortgage buyers, has reported a 42% profit decline since year 2004, accompanied by a drop in the value of financial contracts used to prevent interest rate fluctuations.