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European Business News 96-08-06European Business News (EBN) Directory - Previous Article - Next ArticleFrom: The European Business News Server at <http://www.ebn.co.uk/>Page last updated August 6 7:55 CETCONTENTS
[01] Bob Dole tries to breathe life into his Republican presidential challenge with a radical proposal to cut taxesRepublican presidential candidate Bob Dole has promised a 15 percent tax cut for the American people if he wins the race for the White House. Trailing well behind President Bill Clinton in the polls, Dole's hoping bold tax cuts, which helped get former Republican President Ronald Reagan elected in 1980, will also work for him. The Clinton camp has dismissed the measures as sad and humiliating.[02] IBM and Mercedes-Benz to work together on future systemsMercedes-Benz AG and International Business Machines Corp. said they would work together on future electronics products for Mercedes vehicles.IBM already supplies some components for electronics in Mercedes cars and trucks. The new arrangement will give IBM a broader role in designing internal data systems for vehicles. The agreement was forged last week during a meeting between Mercedes chief executive Helmut Werner and IBM chief executive Louis Gerstner Jr. at the Olympics. Financial terms were not released by the companies. Cars and trucks now typically have many electronics systems, running climate or engine controls. IBM and Mercedes said Monday they would try to develop an overall system that can monitor all the functions, aiming to save money through fewer components. The companies also said they would work on developing a computer that may eventually connect a car to broader computer networks, including those that deliver traffic and business information, even electronic mail. [03] Clinton signs bill that punishes businesses which invest in Libya and IranAmid new concerns about terrorism, President Clinton signed a bill Monday to punish foreign businesses that invest in Iran and Libya. He urged America's allies to join him but said the United States will go it alone if they don't.Clinton called Iran and Libya 'two of the most dangerous supporters of terrorism in the world.' Many of America's allies oppose the bill, signed in the Oval Office before Clinton delivered a speech on terrorism. The allies say it amounts to U.S. interference with their trade policies. Addressing those objections, Clinton said, 'You can't do business with people by day who are killing your people by night.' He said that regardless of the response of allies, 'The United States has to act.' [04] Europe Online bankruptA Luxembourg court has declared the internet service provider Europe Online bankrupt. The move comes after the company failed to find new partners.Liquidators will start talks tomorrow to try and find a new buyer. Europe Online has been under court protection from its creditors since its financing was cut by Germany's Burda publishing group. Since then it has been trying to line up new investors, including Compuserve of the US and Deutsche Telekom. But those talks fell apart last Friday. [05] British Airways' posts an 11% gain in Q1 profitsBritish Airways PLC (BA) reported Monday that its pretax profit for the first quarter ended June 30 rose 11% to 150 million pounds, helped by improved contributions from its global alliances.BA's chairman Sir Colin Marshall said in a press statement that the outlook for the airline industry in general and for British Airways remains encouraging. 'This will be another record year for the industry,' he said. From the European Business News (EBN) Server at http://www.ebn.co.uk/European Business News (EBN) Directory - Previous Article - Next Article |
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