Here is a look at some of Thursday's business stories:
France, Britain to end Concorde flights
PARIS, April 10 (UPI) -- Air France and British Airways announced Thursday the retirement of their Concorde fleets by the end of the year, ending more than three decades of luxury travel.
In a statement, Air France said its last supersonic flights would be May 31. The airline cited a steep decline in business and increased maintenance costs for its decision.
"It's with regret Air France has taken the decision to stop the use of Concorde," said Jean-Cyril Spinetta, president and director general of Air France. "But the choice was necessary."
British Airways said it would cease flying its supersonic jets in the fall because of "commercial reasons, with passenger revenue falling steadily against a backdrop of rising maintenance costs for aircraft."
The airline said it had decided that such an investment couldn't be justified in the face of falling revenue caused by a global downturn in demand for all forms of premium travel in the airline industry.
"Concorde has served us well and we are extremely proud to have flown this marvelous and unique aircraft for the past 27 years," said Rod Eddington, BA's chief executive. "This is the end of a fantastic era in world aviation, but bringing forward Concorde's retirement is a prudent business decision at a time when we are having to make difficult decisions right across the airline."
The demise of the Concorde closes a proud chapter of British and French aviation history that began with the first flights of the supersonic jet, nearly four decades ago.
With London-to-New York flights taking less than 3 1/2 hours, and menus concocted by such legendary chefs as Alain Ducasse, the jet was considered de rigeur for the wealthy and business elite.
In July 2000, both companies grounded their fleets following a crash of an Air France Concorde shortly taking off from Charles de Gaulle airport, near Paris. All 109 people aboard the flight died in the crash along with four people on the ground.
But in 2001, the Concorde returned to the skies, its inaugural flight from Paris booked solid with celebrities and politicians.
Asian shares end mixed
SINGAPORE, April 10 (UPI) -- Asian stock markets closed mixed Thursday, with investors in Japan concerned about the sluggish global demand, while some investors in North and Southeast Asia warmed to the idea the war in Iraq is coming to a close.
Asia's choppy performance followed overnight declines on Wall Street, where the Dow Jones industrial average lost 1.22 percent and the Nasdaq composite lost 1.89 percent as investors refocus on the U.S. economic prospects.
In Tokyo, the Nikkei fell for the third day in a row, breaking below the key support level of 8,000-level, dragged down by a few blue chips. The index lost 0.96 percent to 7,980.12.
Exporters remained under pressure with Sony down 2.74 percent to an 18-month low, and rival Matsushita Electric Industrial down 3.5 percent. Tech-related issues also reacted to Nasdaq's performance with NEC down 4.2 percent and Fujitsu down 2.76 percent.
In Hong Kong, investors remained concerned about the impact of severe acute respiratory syndrome will have on the economy. The Hang Seng index closed down 0.13 percent at 8,625.72. Cathay Pacific lost 2.72 percent after Malaysia said it would ban Hong Kong and Chinese tourists, but property stocks were slightly higher on bargain hunting. Henderson Land Development rose 1.89 percent, while Wharf Holdings added 3.14 percent.
South Korea was the region's biggest gainer, with the KOSPI up 1.45 percent to 577.73, lifted by Hyundai Motor, up 4.3 percent and Kookmin Bank, up 2.6 percent. But the rally may not last as the Bank of Korea announced it was cutting its 2003 economic growth forecast to 4.1 percent from 5.7 percent, citing tensions over Iraq and North Korea.
In Taiwan, the Taiex closed up 0.09 percent to 4,541.36, with chip foundry TSMC down 0.67 percent, while rival UMC was unchanged. Chip designer VIA Technologies rose 2.43 percent, having recently agreed with Intel Corp to settle a series of patent infringement lawsuits,
Singapore's Straits Times Index finished 0.24 percent higher at 1,295.91, lifted by interest in conglomerates like Keppel Corp, up 5.1 percent and SembCorp Industries, up 2.7 percent. There are renewed expectations the two giants could benefit from new marine and shipping contracts.
In Kuala Lumpur, the benchmark 100-share Composite Index ended down 0.71 percent at 629.92, with news of a travel ban on tourists from China weighting on industry-related stocks. Gaming and leisure firm Resorts World fell 5.6 percent, while parent Genting, Malaysia's sole casino operator, lost 5.7 percent.
