Reuters to Cut 3,000 More Jobs After Record Loss in 2002
Date: 19 February 2003
By Alan Cowell
Alan Cowell
Reuters announces its largest loss; posts net loss for 2002 of 394 million pounds, or $631 million, in contrast to profit of 46 million pounds in 2001; says revenue will slip 9 percent in first half of 2003, before sliding even more steeply in second half; says revenue for 2002 fell 8 percent, to 3.58 billion pounds; chief executive Tom Glocer says additional 3,000 jobs will be cut, reducing work force to 13,000; graph (M)
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FARMLAND SEEKS TO SELL ITS FERTILIZER BUSINESS
Date: 19 February 2003
By Bloomberg News
Bloomberg News
Farmland Industries Inc sells its Farmland MissChem Ltd fertilizer business to Koch Industries for $270 milion in cash and assumed debt (S)
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MAKER OF LOW-TOXIN CIGARETTES AGREES TO SELL BUSINESS
Date: 19 February 2003
By Bloomberg News
Bloomberg News
Star Scientific Inc, maker of discount, low-toxin cigarettes, agrees to sell cigarette business operated by its Star Tobacco unit to North Atlantic Trading Co for $80 million in cash (S)
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NEW LINE AT CAMPBELL TO INCLUDE PIZZA-FLAVORED SOUP
Date: 19 February 2003
By Bloomberg News
Bloomberg News
Campbell Soup Co will broaden its ready-to-eat soup in July; seventeen microwavable soups, including one tasting like pizza, will be introduced (S)
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MORGAN STANLEY CUTS THE PAY OF ITS CHIEF EXECUTIVE
Date: 20 February 2003
By Bloomberg News
Bloomberg News
Morgan Stanley cut compensation of chairman-chief executive Philip J Purcell by 27 percent last year as profit slumped; paid Purcell $11 million in 2002, down from $15 million in 2001; Purcell received $775,000 in salary and cash bonus of $5.6 million; was awarded restricted stock, which Morgan Stanley valued at $2.3 million, and $2.3 million in stock options (S)
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KRISPY KREME ACQUIRES MARKETING RIGHTS IN 4 AREAS
Date: 20 February 2003
By Bloomberg News
Bloomberg News
Krispy Kreme Doughnuts acquires marketing rights to four Kansas and Missouri areas from partnership, whose operating partner is former company employee; financial terms undisclosed (S)
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PRE-PAID LEGAL SERVICES SAYS MEMBERSHIP IS INCREASING
Date: 20 February 2003
By Bloomberg News
Bloomberg News
Pre-Paid Legal Services, under investigation by Securities and Exchange Commission over trading in its stock before company disclosed decline in subscribers, expects first-quarter increase in its customer base (S)
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BIG STEEL MAKER TO RAISE SHEET PRICES BY 8.6%
Date: 19 February 2003
By Bloomberg News
Bloomberg News
Nucor Corp will raise steel-sheet prices by $30 per ton next quarter because of higher raw material costs and more demand in Asia (S)
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LA JOLLA SHARES PLUNGE ON RESULTS OF KIDNEY DRUG TESTS
Date: 19 February 2003
By Bloomberg News
Bloomberg News
La Jolla Pharmaceutical's stock drops $5.47, to $2.08, after company says experimental kidney drug Riquent did not work as well as expected in study (S)
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MBNA, CREDIT CARD ISSUER, SAYS ITS LOAN LOSSES ROSE
Date: 20 February 2003
By Bloomberg News
Bloomberg News
MBNA Corp says loan losses rose in January and will not subside until second half of 2003; uncollectable loans rose in January to annualized 5.59 percent of loans, compared with 5.04 percent in fourth quarter 2002 (S)
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