Network Firm News

Thursday, January 16, 2003

Asbestos ruling will cost car makers billions
The Straits Times -- 1/16/03 (from USA Today, Reuters)
DETROIT - The US Supreme Court on Monday ruled against US car makers in an asbestos case decision that could cost them US$100 billion.

In a separate development, Citigroup spin-off Travelers Property Casualty said on Tuesday that it would take an after-tax charge of US$1.3 billion to boost reserves for ballooning asbestos-related claims against corporate clients.

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