Chinese Economy's Underside: Abuse of Migrants
Date: 26 August 2003
By Joseph Kahn
Joseph Kahn
Article in series, The World's Sweatshop: Migrant Despair, describes migrant workers as dark underside of China's economic success; says China's 100 million migrant workers work long hours in dangerous jobs for low salaries and no benefits; says they are barred from forming unions and liable to be fired on boss's whim; says they leave family behind in rural areas to live on fringes of urban society with limited access to housing, education, medical care and courts; says they would not come to cities if opportunities did not outweigh dangers; says even official news media offer regular examples of their extreme distress; photos; map (M)
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ZIMMER TO MAKE OFFER FOR CENTERPULSE
Date: 27 August 2003
By Bloomberg News
Bloomberg News
Zimmer Holdings Inc will proceed with $3.2 billion offer to buy Centerpulse after reviewing Centerpulse's accounting; Centerpulse said last week that Securities and Exchange Commission began informal inquiry into how its US subsidiary accounted for inventory (S)
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CATALINA MARKETING DELAYS REPORTING RESULTS
Date: 27 August 2003
By Bloomberg News
Bloomberg News
Catalina Marketing Corp says auditor Ernst & Young resigned and it has delayed filing earnings reports; also says previously filed financial results are not reliable (S)
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TECO ENERGY TO SELL POWER PLANT
Date: 27 August 2003
By Bloomberg News
Bloomberg News
Teco Energy Inc, which is trying to avert credit-rating cut, sells power plant in Florida for $115 million to private equity firm GTCR Golden Rauner and Invenergy; buyers will assume plant's debt, which was $103 million on Dec 31 (S)
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FULTON FINANCIAL TO BUY RESOURCE BANKSHARES
Date: 26 August 2003
By Bloomberg News
Bloomberg News
Fulton Financial Corp, which operates 199 bank offices in four states, acquires Resource Bankshares Corp, gaining operations in Virginia and Florida; deal valued at $195.6 million (S)
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TENET TO SELL HOSPITALS TO HEALTH MANAGEMENT
Date: 26 August 2003
By Bloomberg News
Bloomberg News
Tenet Healthcare plans to sell five hospitals to Health Management Associates for $550 million to repay debt amid falling earnings and government probes (S)
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THOMSON SELLING HEALTH CARE MAGAZINES TO ADVANSTAR
Date: 26 August 2003
By Bloomberg News
Bloomberg News
Thomson Corp sells its health care magazines to Advanstar Communications for $135 million (S)
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VIVENDI TO CONTEST I.R.S. CLAIM OF TAXES OWED
Date: 26 August 2003
By Bloomberg News
Bloomberg News
Vivendi Universal will contest claim by Internal Revenue Service that company owes taxes of about $1.5 billion plus interest linked to sale of shares in DuPont Co in 1995 (S)
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U.S. DENIES SBC ON LONG-DISTANCE REQUEST
Date: 27 August 2003
By Bloomberg News
Bloomberg News
SBC Communications fails to win Justice Department support for its bids to enter $7 billion market for long-distance service in Illinois, Indiana, Ohio and Wisconsin; department says that SBC issued inaccurate bills to carriers who buy wholesale local services on its network (S)
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BURLINGTON ALLOWED TO SEEK APPROVAL FOR ASSET SALE
Date: 26 August 2003
By Bloomberg News
Bloomberg News
Burlington Industries, textile maker that sought bankruptcy protection in 2001, wins US Bankruptcy Court Judge Randall J Newsome's permission to seek creditors' approval of plan to selll its assets to W L Ross & Co for $614 million (S)
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