■LaborHK workers fear for jobs
Nearly one out of four workers in Hong Kong believe they could lose their job in the coming year, a survey by a US-based employment and management consulting firm showed yesterday. A global career confidence index survey conducted by Right Management Consultants showed pessimism was higher in Britain and the US, where 27.5 percent and 26.6 percent of workers respectively thought they could lose their jobs in the next year, compared with 24 percent in Hong Kong. "People in Hong Kong are feeling very concerned about the future, especially with the start of the war with Iraq," said Stephen Lazar, managing principal for Right Management Consultants said. "Our survey, which covered more than 600 people in Hong Kong, took place in February, when the uncertainty about the looming war and the Hong Kong economy were on everyone's mind," he said.
■ Communications
Investors seek clear rules
At the Xin Da Xin Department Store in Guangzhou, devices that forward mobile-phone calls to land lines are a top seller -- even though cell-phone operators call them illegal. "People love them," said a saleswoman who gave her last name as Yu, pointing to a stack of "Go-To-Phone" machines that sell for 68 yuan (US$8) each. "Often they grab three at a time." The scene underlines new Chinese Telecommunications Minister Wang Xudong's first task: Evenly applied rules for the world's biggest phone market by users. Investors say new regulations would help boost shares of China Mobile (HK) Ltd and rivals, which have slumped on concern China favors some companies over others.
■ Airlines
Carriers to cut capacity
British Airways Plc, Europe's biggest airline, will reduce seating and cargo capacity by 4 percent next month and in May as well as accelerate job cuts because the war in Iraq is lowering demand for air travel. The airline said it will review all capital expenditures and seek other measures to preserve cash. It will move its goal of eliminating a total of 13,000 jobs to September from March 2004. British Airways shares fell as much as 4.1 percent. "They are taking appropriate action in order to stem losses and conserve cash," said BNP Paribas analyst Nick van den Brul. "It shows positive management." Deutsche Lufthansa AG, Europe's No. 3 airline, said yesterday it will reduce its long-haul fleet by seven aircraft and reduce the number of flights linking Frankfurt with New York, Boston, Los Angeles, Phoenix and Dallas as of Sunday.
■ Lawsuits
Businessman sues over belt
A Chinese businessman who lost a big-money deal when his trousers fell down twice in a crucial meeting is suing a shop for selling him a faulty belt, a news report said yesterday. The businessman from Zhengzhou, Henan, says he blew a one million yuan (US$120,000) deal to represent a Canadian firm in China because of a faulty belt he bought just before the meeting. He was on the verge of clinching the contract when his trousers fell down twice and the "disgusted" Canadian representatives pulled out, the South China Morning Post reported. The businessman is now suing a local department store who sold him the leather belt for 600 yuan (US$72).
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