The late ticker
Sunday 08 June 1997
The leading European supplier of catalytic converters for cars, Degussa, has warned that severe shortages of palladium and platinum could halt car production within weeks.
Ford and GM declined to comment on their palladium and platinum supplies, while Chrysler said it had adequate supplies of palladium. Stockpiles of palladium are critically low because Russia has exported none this year. Metals traders in London met on Friday to discuss the prospect of defaults on traded contracts.
THE Italian Treasury said it will not convert the savings shares of Stet and Telecom Italia into ordinary shares when it merges the two state- controlled companies ahead of selling the combined group to private investors. The sale later this year could raise 20 trillion lire (pounds 7bn).
Excel buys Telco
Excel Communications, the US long-distance telephone company, is to acquire Telco Communications, a phone network company, for $1.2bn, creating the fifth-largest US long-distance company.
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Bali nine: Welcome to 'Execution Island' – the Indonesian holiday resort where foreigners are sent to die
'A girl is more responsible for rape than a boy': The statement that shocked the world... except India
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Durham Free School: 'Creationism taught at' free school facing closure
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
Ukip would cut billions from Scottish budget to fund English tax cuts
End of the licence fee: BBC to back radical overhaul of how it is funded
Ukraine crisis: Top Chinese diplomat backs Putin and says West should 'abandon zero-sum mentality'
Boris Nemtsov shot dead: Outspoken Putin critic who had expressed fears for his life is killed near the Kremlin
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