Word: plc
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Harry Potter fans expecting the sorcery saga's next installment in time for summer vacation next year will have to wait a little while longer. J. K. Rowling's publishers, Bloomsbury Publishing PLC, says there will be no new Harry Potter book ready for the summer, and probably not until sometime in 2002. "Basically the author hasn't finished writing it," Bloomsbury CEO Nigel Newton tells TIME, adding that the production schedule for the next three books "is still to be confirmed...
...million. Its empire stretches from John Grisham's novels (Random House) to Whitney Houston's hit tunes (BMG), and from Family Circle magazine to Germany's most prominent publications, like the provocative newsweekly Stern (both owned by Gruner + Jahr). Through a joint venture with British media giant Pearson PLC in the RTL Group, the company owns syndication rights to a vast universe of television programs, including Baywatch and The Price Is Right. And Bertelsmann also does a multibillion-dollar global business in printing and publishing services; the magazine in your hand may have come off a press...
...motivated as much by enlightened self-interest as by altruism, but the decision by five pharmaceutical giants to slash the price of AIDS drugs in Africa has the potential to be an important milestone in the battle against the killer disease. Bristol Myers Squibb, Glaxo Wellcome PLC, Merck and Co., Boehringer Ingelheim GmbH and Roche Holding AG are set Thursday to announce a program negotiated with the United Nations to cut the price of AIDS drugs by as much as 90 percent on a continent where more than 23 million people are infected with HIV. The business context for that...
...industry has already undergone considerable consolidation. Along with its equity interest in Kia, Ford Motor Co. owns Jaguar PLC and a one-third stake in Mazda and is considering an alliance with Samsung Motors Inc. GM, still the world's largest automaker, owns Germany's Adam Opel AG, the U.K.'s Vauxhall Motor Cars Ltd., Holden's in Australia, 50% of Saab Automobile AB in Sweden and about a third of Isuzu. On top of that, GM operates a joint venture in Canada with Suzuki Motor Corp. and an assembly plant called NUMMI in California with Toyota...
...fact, the China Syndrome aspect of all this interconnected finance is among its most worrisome features. What if the whole nterconnected computer network crashes? (Hell, what if just your part does?) What if a hacker breaks in at the wrong place? What if the bank "blows up," as Barings PLC did in 1995 after 28-year-old Nicholas Leeson bet the house and lost? Industry insiders--the folks who have designed the systems--argue that the infrastructure they have built is secure enough to survive any tampering and that the markets themselves will factor in the risks of rogue...