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Date: 15 May 2002
By Seth Schiesel
Seth Schiesel
News Corp reports loss of $3.99 billion in quarter compared with earnings of $111 million year earlier; revenue increased 17.6 percent, to $3.85 billion, up from $3.27 billion year ago (M)
Date: 15 May 2002
By Richard Sandomir
Richard Sandomir
News Corp president Peter Chernin announces that company subsidiary Fox Sports will not pay high rights fees to NFL in future because network is losing substantial amount of money on current NFL deal (S)
Date: 14 May 2002
Federal government lawyers argue that immigration hearings for post-Sept 11 detainees should be kept secret in order to avoid jeopardizing terrorism investigation; American Civil Liberties Union sued in March on behalf of several New Jersey newspapers seeking to overturn blanket order that hearings be held in secret (M)
Date: 14 May 2002
By Bloomberg News
Bloomberg News
Avaya Inc says it will expand its telecommunications network services business as customers cut spending on telecommunications equipment; will form sales team to focus on network maintenance and other services (S)
Date: 15 May 2002
By Bloomberg News
Bloomberg News
PPG Industries settles asbestos injury claims for $2.7 billion and will take charge against earnings of about $500 million; settlement will be paid over next 21 years by company and at least three-dozen insurers; most of claims are result of company's 50 percent ownership position in Pittsburgh Corning (S)
Date: 14 May 2002
By Bloomberg News
Bloomberg News
Nortel Networks, maker of telephone equipment, will file to sell as much as $2.5 billion of securities (S)
Date: 15 May 2002
By Bloomberg News
Bloomberg News
Key Energy Services Inc, oil well-service company, acquires rival Q Services Inc for $185 million in stock and assumption of $80 million in debt (S)
Date: 14 May 2002
By Bloomberg News
Bloomberg News
Procter & Gamble Co, which paid $4.95 billion for Clairol hair care business six months ago, is looking for buyers for unit's Sea Breeze facial cleanser and three other brands as it focuses on its main hair color business (S)
Date: 15 May 2002
By Bloomberg News
Bloomberg News
Ralph Roberts, the chairman of the Comcast Corporation, generated about $32.7 million of paper profits through the exercise of company stock options last month.
Date: 14 May 2002
By Bloomberg News
Bloomberg News
Australian business confidence rose to its highest level in eight years in April, signaling economy is picking up and that Reserve Bank of Australia may raise interest rates faster than expected; National Australia Bank's index of business confidence rose 5.8 percent, to 20.6 points, highest level since 1994 (S)