Factory orders fall 1.5 percent in February amid weak manufacturing
The Commerce Department reports February orders to U.S. factories declined 1.5 percent led by metals and machinery while auto orders stayed flat. Officials warn the sector remains weak with recession fears rising as job losses mount and energy prices stay high.
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Washington
U.S
Commerce Department
Wolfe
SARS disrupts Asia economies hit Hong Kong and Singapore
The SARS outbreak curbs production and travel across Asia forcing factories to close and banks to curb meetings. Analysts cut East Asia growth forecasts as firms rely on teleconferencing while tourism collapses and airlines trim services amid fear.
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Hong Kong
Asia
Singapore
China
South Korea
Vietnam
Merrill Lynch
Tr. Bond
Bond
East Asia
Japan
Motorola
Hewlett Packard
Intel
Taiwan
General Motors
Tyco sues ex CFO over alleged looting scheme
Tyco International filed a 400 million lawsuit in Manhattan federal court against former chief financial officer Mark Swartz, accusing him of looting the conglomerate for personal gain. The suit cites more than 134 million in pay for services not rendered and unauthorized bonuses from 1997 to 2002, with Swartz pleading innocent.
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New York
Tyco International
Mark Swartz
Tyco
Manhattan
Federal Court
Swartz
Charles Still
Tyco Board
Frank Walsh
Board of Directors
Goodyear predicts largest ever annual loss in 2002
AKRON AP Goodyear Tire & Rubber Co. expects to report a 2002 loss of about $1.1 billion, the biggest in its history, tied to a $1.1 billion fourth quarter charge for reduced tax deductions. The company has posted $600,000 loss through the first three quarters and delayed the release while refinancing debt.
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AKRON
Goodyear Tire & Rubber Co
Goodyear
Keith Price
Tuday
Securities and Exchange Commission
Deepak Siideshmukh
Case Western Reserve University
Cleveland
Sirdeshmukh
Robert J. Keegan
Samir G. Gibara
Gibara
Standard and Poor's
S&p
Martin King
New York Stock Exchange
Market rises as investors hope for rapid end to war
Wall Street jumped as U S led forces closed in on Baghdad boosting optimism for a quick war end. Dow rose 215.20 points to 8285.06, Nasdaq up 48.42, S P 500 up 22.42. Biogen climbed on strong first quarter outlook while tech names and airlines gained on potential federal aid.
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Wall Street
Baghdad
Iraq
Biogen
House
Senate Appropriations
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Periugate
Wolfe
Dow
Standard & Poor
U.S
Red Zone
Kut
Jessica Lynch
Todd Leone
SG Cowen Securities
Biotech
Intel
Microsoft
Circuit City
American Airlines
Continental
Delta
Dollar rises in European trading on Wednesday
The US dollar strengthened against major currencies in Europe with the euro at $0.777 in late trading, down from $1.089, and $1.0766 in New York midday trading. Yen rose to 119.13, Swiss francs to 1.3758, and Canadian dollars to 1.4789. The pound traded at $1.5681, down from $1.5724, and London gold closed at $23.20 bid per ounce, down from $334.60.
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London
New York
Europe
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