Bad news from Reuters .(financial results; includes other international business news)
Economist (US), The, February, 2003
Business
Bad news from Reuters. The news and financial-information group reported a record pre-tax loss of pound sterling493m ($740m) in 2002, after losing pound sterling370m at Instinet, a part-owned American electronic stock exchange. Reuters' shares fell by 12% to a 14-year low, as the company announced that a further 3,000 jobs would go by 2005--some 20% of the workforce.
Hugh Osmond, a British beer and pizza entrepreneur, was considering a bid for Six Continents, a British hotel and pub group planning a demerger. Mr Osmond hopes to pre-empt other bidders awaiting the split and grab the pub assets on the cheap.
Argos and Littlewoods were fined a record pound sterling23m ($37m) by British consumer watchdogs for fixing the price of toys...
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