HERE IS THE Business & Finance FROM AWSJ, JAN, 18, 2001
CONSUMER PRICES SURGED 3.4% in the U.S. last year, the biggest increase in a decade. Meanwhile, in further evidence of the country's mounting economic pressures, the government also said factory production tumbled 1.1% in December. The output decline was the biggest such setback since the end of the 1991 recession. (Page 2) | | | Hyundai Electronics wants to slice its $6.07 billion in debt this year via asset sales and a 23% reduction in staff. The South Korean memory-chip maker said it will pare 5,000 of its 22,000 workers through spinoffs. (Page 1) | | | China will move cautiously in reforming its financial institutions, the governor of the country's central bank said. As part of that process, some small, insolvent trust and investment companies will be closed. (Page 3) | | | TPI's creditors suffered a setback to their debt-restructuring plans when Thailand's Bankruptcy Court approved a petition by the petrochemical company's former chief to hear an appeal. (Page 4) | | | CyberWorks shares fell 5.5%, bringing their slide to 21% over the past six trading days. Analysts say the decline is overdone in light of the company's fundamental strengths. (Page M1) | | | Two contract manufacturers from North America plan to acquire factories in Japan, possibly creating new opportunities as Japanese electronics makers look to outsource some of their operations. (Page 5) | | | U.S. tech shares surged Wednesday morning after the release of better-than-expected results and data showing benign inflation. Blue-chip gains were limited by bad news on earnings from J.P. Morgan Chase and 3M. (Page M7) | | | Dresdner and Guotai signed a memorandum of understanding that paves the way for an eventual fund-management joint venture in China between the German bank and the Chinese brokerage firm. (Page 3) | | | Panca's creditors voted to accept the Indonesian company's debt-restructuring plan over the objections of the International Finance Corp. and several major international banks. (Page 4) | | | The ADB expects to lower its estimates for GDP growth this year for much of Asia as many nations, particularly those that didn't engage in corporate restructuring, are vulnerable to an economic slowdown in the U.S. (Page M3) | | | GE said earnings rose 16% in the fourth quarter, in line with expectations, boosted by globalization and an increase in its business on the Internet. (Page 2) | | | Daiichi Fire's search for a buyer was formally ended by its government-appointed administrators. The failed insurer's contracts will be taken over by Nonlife Insurance Policyholders Protection Corp. of Japan. (Page 5) | | | The dollar rose against the euro in morning trading in New York after data indicated that U.S. inflation remains under control. (Page M11)
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