* President Eudardo Duhalde of Argentina devalued the peso by around 30 per cent against the US dollar this week. The President hopes that the devaluation will cheapen exports and labour and will reverse the recession that has already heralded the largest sovereign default ever.
* Compaq computers, the second biggest personal computer manufacturer, became the latest US company to issue a positive outlook on its earnings forecast. The company is expected to record a profit rather than a loss in the quarter to December 31, thanks to a stronger than expected sales.
* General Motors, the world's largest car maker, may not complete the long awaited take-over of Daewoo Motor until the first quarter of this year as labour and supplier issues are still being negotiated. General Motors had initially hoped to sign the final deal by the end of 2001.
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* Boeing, the world's largest manufacturer of airplanes, said in an recent announcement, that its gross orders for commercial jets fell 45 per cent in 2001 as airlines suffered record losses after the September 11 attacks. Even before the terror attack on New York and Washington DC, Boeing was going through a bad year with airlines bearing the brunt of a slump in profitable travel business and a weak US economy.
* Alcoa Inc, the world's largest aluminium manufacturer, recently launched a take over bid for Nowergian light metals maker Elkem, valuing the company at around US $ 850 million after acquiring 40 per cent control. Depressed metals prices following the fall in demand are driving the consolidation spree among the aluminium makers.
* Yves Saint Laurent, the respected fashion designer announced his retirement and the closure of his haute couture early this week. In 1999, Saint Laurent sold the YSL rights to Gucci which now markets Yves Saint Laurent ready- to-wear and accessories but retained the haute couture business.