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News Scan
News Scan P.M.: Aug. 1, 2002 News Scan P.M.: Aug. 1, 2002 NEW YORK - Business, technology and wealth news: National Semiconductor Warns On Flat Revenue Shares of the chipmaker dropped to $16 on Instinet after ending at $17.13 during the session. The company cited a weak PC market for the less-than-stellar outlook. GM's U.S. Sales Surge 24% In July The world's largest automaker said car sales in the U.S. market jumped 11% while truck sales climbed 36%. The return of interest-free loans helped drive customers into dealerships. Tyco CFO Swartz, General Counsel Gutin To Leave Company Swartz's departure follows that of his close partner and superior, Dennis Kozlowski. The two executives were the driving force behind Tyco's decade-long acquisition spree. Ford's July U.S. Sales Up 1.5% The world's No. 2 automaker, which boosted its incentives program and reintroduced interest-free loans to bolster its sales last month, said July sales totaled 319,975 vehicles. Pediatric Drug Testing Mandate Moves In U.S. Senate A U.S. Senate panel Thursday unanimously approved a measure to write into law a requirement that drug makers study the safety of medicines in children. BP To Invest $15B In Gulf Of Mexico Oil And Gas The London-based oil and gas producer said it expects to invest at least $15 billion from 2001 to 2010 on exploration, development and production of deepwater oil and gas in the U.S. Gulf of Mexico. Disney Net Income Falls The Walt Disney Co.'s quaterly income dropped sharply due to weaker results from movies and struggling ABC. The company said revenue fell 3% from the year-ago quarter Warnaco Says SEC May File Charges The bankrupt clothing maker disclosed that SEC lawyers notified it on July 18 that they would recommend charges of federal securities law violations be brought against the company. Two Ex-WorldCom Execs Arrested WorldCom's ex-Chief Financial Officer Scott Sullivan and former Controller David Myers were arrested on Thursday; they are held at the FBI offices in lower Manhattan and are expected to be presented in Manhattan federal court later in the day, said an FBI spokeman. Williams Sells $1.77B In Assets Williams Cos. announced assets sales totaling $1.7 billion as part of last-ditch survival strategy by the cash-strapped energy giant; it is also expected to announce agreement for some $2 billion in secured debt from its banks and Warren Buffett's Berkshire Hathaway. Earlier headlines Bids For KirchMedia Reach $2.54B Marconi Near Sale Of Mobile Unit To Finmeccanica Google, Lloyds In 'Seven-Figure' Ad Pact Shell Q2 Profit Down 38% On 'Worst' Conditions Rubbermaid Q2 Profit Up By More Than A Third KPMG's APP Probe Details $4.4B Transactions Heat Wave Seen To Wither More U.S. Crops Aetna Says Earnings Up More Than Ten-Fold News items can be submitted to Lisa J. Ulmer at lulmer@forbes.net or by calling her at (212) 366-8931.
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Market data provided by Reuters. Disclaimer Stock quotes are delayed at least 15 minutes for Nasdaq, at least 20 minutes for NYSE/AMEX. U.S. indexes are delayed at least 15 minutes with the exception of S&P; 500 which is real-time. Forbes 40 Index powered by Telemet. News may include latest headlines from Reuters. |
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