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Date: 14 April 2001
By Benjamin Weiser
Benjamin Weiser
CNN asks federal Judge Leonard Sand to quash subpoena for news footage sought by defense attorneys in US embassy bombing case; network cites potential danger to its journalists overseas (S)
Date: 14 April 2001
By Bloomberg News
Bloomberg News
Chum Ltd., a big owner of Canadian radio stations, said today that it had agreed to buy the Vancouver television station CKVU from the CanWest Global Communications Corporation, Canada's biggest media company, for 125 million Canadian dollars ($80 million). Broadcasting regulators ordered CanWest to sell the station and another in Montreal after it acquired several stations from WIC Western International Communications Ltd. in July.
Date: 14 April 2001
By Bloomberg News
Bloomberg News
Italian industrial produc tion fell for the second consecutive month in February, another indication that an economic slowdown in the United States was hurting Italy, the euro region's third-largest economy. Output at Italian companies was 0.3 percent less in February than in January, when production fell a revised 1.9 percent, the statistics institute Istat said. Economists had expected a drop of 0.7 percent. Production advanced an adjusted 3 percent in February 2000.
Date: 14 April 2001
By Bloomberg News
Bloomberg News
The Warnaco Group Inc., whose shares have fallen 92 percent in the last year, said yesterday that it received a waiver by its lenders of certain financial covenants through May 16. Warnaco, the maker of Fruit of the Loom and Polo by Ralph Lauren clothes, said that it was holding talks to secure permanent amendments to the covenants. The move is necessary to avoid a possible default after the waivers expire, Warnaco said.
Date: 14 April 2001
By Bloomberg News
Bloomberg News
The California Public Employees' Retirement System lost $9 billion in February, led by a $6.7 billion drop in its holdings of stocks in United States companies, according to information published on its Web site. The decline of 5.3 percent of the pension fund's assets is equivalent to $7,500 for each of the 1.2 million state and local employees the system covers but the dip is not expected to affect benefits for California state employees.
Date: 14 April 2001
By Bloomberg News
Bloomberg News
The General Tire unit of Continental was ordered by a Los Angeles jury today to pay $54.9 million to a quadriplegic woman injured in 1996 when a tire on her car blew out. The award includes $49.9 million for the victim and $5 million for her parents. The Los Angeles Superior Court jury of 10 women and 2 men concluded that General Tire was negligent for letting the defective tire leave the company's plant in Mount Vernon, Ill.
Date: 14 April 2001
By Bloomberg News
Bloomberg News
Merrill Lynch & Company, which has more employees than any securities firm, will probably extend job cuts to shore up earnings as markets slump. ''We expect there will be reductions of some selected staff as well as other expense reductions,'' said Richard Silverman, a spokesman for the company, which employed 72,000 people at the end of last year.
Date: 14 April 2001
By Bloomberg News
Bloomberg News
Sales at American businesses fell more than inventories in February, suggesting sluggish production in the months ahead. Sales fell 0.3 percent, led by declines at manufacturers and wholesalers, after falling 0.2 percent in January, the Commerce Department said today. Inventories dropped 0.2 percent, the first decrease in more than two years, after a 0.1 percent increase.
Date: 15 April 2001
INTERNATIONAL 3-14 China Issues Warning On Arms Sales to Taiwan China is warning the United States that a sale of advanced weapons to Taiwan would endanger already strained relations. Beijing hopes that the imbroglio over the spy plane collision will make Washington more receptive to its concerns. 1 China angrily described as ''irresponsible'' the statements by senior American officials that a Chinese fighter jet caused the collision. Members of the crew gave their first public account of the collision at a news conference at Hickam Air Force Base in Honolulu. 10
Date: 14 April 2001
INTERNATIONAL A2-6 After Plane Crew's Return, Gauging the Damage Done The crew of a crippled American spy plane, surrounded by Chinese guards shouting and waving their guns, spent 15 frantic minutes destroying secret materials before opening the hatch, senior American officials and diplomats said. A1 The Pentagon produced a grainy videotape of a close encounter between a Chinese fighter jet and an American spy plane that it said underscored a pattern of aggressive and reckless flying by China's military. As diplomats discussed the fate of the American spy plane that remains in China, the issue has arisen whether this facet of the spy game has outlived its usefulness. A6