Friday, July 02, 2004


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Business


Western Banks May Call in Yukos' $1B Loan
MOSCOW - A top official at Russia's battered oil giant Yukos on Monday accused the government of driving the company to the brink of insolvency as a group of Western banks signaled it might call in a $1 billion loan.

Europe, Asia Shares Mixed in Light Trading
LONDON - Trading in European and Asian shares was mixed Monday, with business slower on many exchanges because of Wall Street's closure for a long holiday weekend.

Oil Prices Rise Amid Iraq, Yukos Troubles
BAGHDAD, Iraq - Oil prices moved higher Monday, after new attacks on Iraqi oil lines forced the country to reduce its exports by half. News of Russian oil giant Yukos' expanding legal and financial troubles added to traders' anxiety.

Automakers to Pile on Deals After June
DETROIT - After U.S. auto sales plunged to a near-six-year low in June, automakers again are expected to beef up costly cash-back and financing offers to clear out bloated inventories, analysts say.

Contractors Eyeing Iraq Following Handoff
McLEAN, Va. - One might think that a security firm would be among the few companies that would stand to benefit from the unstable security situation in Iraq.

BLB Investors Withdraws Bid for Wembley
LONDON - U.S. group BLB Investors LLC on Monday withdrew its leading bid for London-based Wembley PLC and cited concerns over Wembley's Rhode Island dog track.

Ariz. Firm Takes Off With Law Enforcement
SCOTTSDALE, Ariz. - When brothers Tom and Rick Smith launched Taser International Inc. in 1993, their target customer was their mother _ someone looking for personal protection but not a firearm.

Italy Chief Wins Budget Plan Endorsement
BRUSSELS, Belgium - Italian Premier Silvio Berlusconi won an endorsement Monday from his European Union colleagues for his plans to narrow Italy's yawning budget deficit with $9.2 billion in new spending cuts and tax measures.

Coca-Cola Opens $8.3M Somalia Plant
NAIROBI, Kenya - After a 15-year absence, Coca-Cola Co. returned to Somalia Monday with the opening of a $8.3 million bottling plant.

Reports: Italy Gov't to OK Parmalat Plan
ROME - A restructuring plan aimed at saving insolvent dairy group Parmalat will receive approval from the government within days, according to published reports.








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