S.E.C. FILES CIVIL COMPLAINT AGAINST LERNOUT & HAUSPIE
Date: 11 October 2002
By Bloomberg News
Bloomberg News
Securities and Exchange Commission files civil complaint against Lernout & Hauspie Speech Products, accusing it of inflating revenue by hundreds of millions of dollars; says company created bogus customers, booked circular transactions with shell companies and reported loans as sales from 1996 to 2000; company, which is being liquidated, lost $8.6 billion in market value when its stock fell 99 percent after its scheme was reported in news media in 2000 (S)
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MONSANTO LOWERS ITS EARNINGS OUTLOOK FOR THE YEAR
Date: 12 October 2002
By Bloomberg News
Bloomberg News
Monsanto reduces earnings forecasts because of reduced United States and Latin American sales (S)
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MAYTAG TO CLOSE A PLANT, CUTTING 1,600 JOBS
Date: 12 October 2002
By Bloomberg News
Bloomberg News
Maytag will close appliance plant in Galesburg, Ill, and eliminate 1,600 jobs, or about 8 percent of its work force (M)
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KMART ASKS FOR COURT APPROVAL TO SELL INTERNET UNIT
Date: 12 October 2002
By Bloomberg News
Bloomberg News
Kmart asks bankruptcy court for approval to sell its BlueLight.com Internet access business, with 165,000 subscribers, to United Online for $8.4 million (M)
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EL PASO AGREES TO SELL ITS INTEREST IN A PIPELINE
Date: 12 October 2002
By Bloomberg News
Bloomberg News
El Paso Corp agrees to sell its 14 percent interest in a natural gas pipeline and processor to its partners, Enbridge Inc and Fort Chicago Energy Partners; each partner will pay about $85 million (S)
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ROCHE AND TRIMERIS WIN PRIORITY REVIEW OF AIDS DRUG
Date: 12 October 2002
By Bloomberg News
Bloomberg News
Roche Holding and its partner Trimeris win faster-than-usual Food and Drug Administration review of Fuzeon, first in new class of drugs that prevent HIV from infecting healthy cells (S)
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JUDGE RESCINDS ADVERTISING BAN ON GLAXO'S DRUG PAXIL
Date: 11 October 2002
By Bloomberg News
Bloomberg News
Judge Mariana R Pfaelzer rescinds her August order barring GlaxoSmithKline from advertising antidepressant Paxil as 'nonhabit forming' (S)
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ROYAL CARIBBEAN CRUISES RAISES ITS EARNINGS ESTIMATE
Date: 12 October 2002
By Bloomberg News
Bloomberg News
Royal Caribbean Cruises, which wants to be bought by P&O Princess Cruises, raises its third-quarter and full-year earnings estimates because of cost cutting and sales increases (S)
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AQUILA SELLS ITS 70% STAKE IN ELECTRICITY DISTRIBUTOR
Date: 12 October 2002
By Bloomberg News
Bloomberg News
Aquila Inc, United States utility owner, completes sale of its 70 percent stake in New Zealand's largest electricity distributor, UnitedNetworks; Vector Ltd pays $503 million for Aquila's stake (M)
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JUDGE DISMISSES 2,600 CLAIMS AGAINST EXXON
Date: 11 October 2002
By Bloomberg News
Bloomberg News
Exxon Mobil wins judge's dismissal of about 2,600 asbestos complaints, ending its role in West Virginia trial that once involved 8,000 plaintiffs and hundreds of company defendants; settles 132 claims, agreeing to pay about $2,000 each to plaintiffs with lung cancer who were exposed to Exxon asbestos product; judge rules that workers did not have enough evidence to prove asbestos in Exxon caulk caused their lung illnesses; Union Carbide unit of Dow Chemical is only defendant in trial (S)
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