Business and City In Brief
Saturday 09 January 1993
The future of 1,400 jobs at the three Irish Waterford Glass plants will be in the balance today when mass meetings of the workforce vote on a radical cost-cutting package. Management has warned it may shift production to the Continent if the proposals are not accepted.
European airlines flew more than half-empty in November, the first time in 15 years that they fared so badly in the month, the Association of European Airlines said.
The European Commission has opened an inquiry into the purchase by Tesco of Etablissements Catteau for pounds 175.6m.
Lawyers acting for Grupo Torras, the Kuwait Investment Office's Spanish holding company, filed a lawsuit against its former managers for alleged irregularities.
Ciba-Geigy has acquired 51 per cent of Bunting Group in the UK, and completed its purchase of Fisons' North American consumer health business, announced last November.
Going it alone
Philips Electronics and Siemens AG have dropped plans for joint ventures in telecommunication cables and optical fibres.
Nintendo of America said record revenues of dollars 4.28bn last year were 22 per cent higher than in 1991.
Unemployment in the US in 1992 was the worst in eight years, averaging 7.4 per cent.
The Zurich public prosecutor's office is investigating possible insider trading violations in Swiss Volksbank's shares, which rose sharply ahead of the recent takeover by CS Holding.
Japan will retain its limit on vehicle exports to the US at 1.65 million vehicles for the year beginning 1 April.
New York: Disappointing employment figures had pushed the Dow Jones Industrial Average down 17.29 points to 3,251.67 by the close.
Tokyo: Listless, low-volume trade left the Nikkei average 146.29 weaker at 16,634.69.
Hong Kong: Worries about the Sino-British row and Wall Street's decline took the Hang Seng 17.76 lower to 5,529.56.
Sydney: Heavy selling in futures savaged an already depressed market. The All Ordinaries index plunged 28.6 points to 1,502.3.
Bombay: New account trade lifted the index 24.76 to 2,420.56.
Frankfurt: A sharp downturn at Siemens and disappointment over interest rates drove the DAX down 10.98 to 1,531.52.
Paris: Hope of lower interest rates helped the CAC-40 index to gain 8.16 points to 1,852.63.
Zurich: The all-share index eased three points to 2,074.1.
Milan: Strength in blue chips failed to inspire a rally. The MIB rose 0.4 per cent to 1,010.
London: Report, page 19.
- 1 Jeremy Clarkson 'does not see a problem' with his racist language on Top Gear, says BBC
- 2 Richard Dawkins on babies with Down Syndrome: 'Abort it and try again – it would be immoral to bring it into the world'
- 3 ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
- 4 A third of employers never check job applicants' qualifications, survey finds
- 5 James Foley beheading: Fox news presenter Megyn Kelly annoyed by Ferguson update during broadcast about murdered journalist
Richard Dawkins on babies with Down Syndrome: 'Abort it and try again – it would be immoral to bring it into the world'
Scottish independence: English people overwhelmingly want Scotland to stay in the UK
Isis threat: Cameron wants an alliance with Iran
Michael Brown shooting: Chaos erupts on the streets of Ferguson after autopsy shows teenager was shot six times – twice in the head
Bin bag full of cats' heads discovered near Manchester's Curry Mile
Disgusting, frustrating, but intriguing: how the country really feels about its politicians
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