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Non-Tech : The ENRON Scandal

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To: Mephisto who started this subject	9/30/2002 9:17:05 AM
From: Mephisto	Read Replies (1) of 5185

World Shares Tumble on Earnings Worries Reuters Business Report Monday September 30, 8:17 am ET biz.yahoo.com The following is an excerpt: By Jeremy Gaunt, European Investment Correspondent LONDON (Reuters) -" European and Asian shares tumbled on Monday and bond prices jumped as investors shunned equities in the face of poor corporate earnings and worries over potential war in Iraq. The dollar sank against the yen after a cabinet reshuffle in Japan led to renewed hopes for bank reform in the troubled economy, and was down against other major currencies. "U.S. profit warnings, spreading deflation, the high oil price and fears of military intervention in Iraq are all preying on people's minds," said Avinash Persaud, global head of research at State Street Bank. Following on from a 3.7 percent sell-off in U.S. blue chips on Friday -- triggered in part by poor earnings outlooks for General Electric and Philip Morris -- Japanese and European investors fled stocks, fearing even greater losses. " biz.yahoo.com

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