Aston takes top marks for customer satisfaction

Aston Hotels & Resorts ranked No. 1 out of 85 hotel brands nationwide for customer satisfaction among global luxury brands during the first quarter, according to a survey of 30,000 guests by the Market Metrix Hotel Index.

Aston beat out Walt Disney World Resorts, which ranked No. 2, as well as Omni Hotels, Westin, Marriott, Renaissance and Outrigger, said Aston parent ResortQuest International Inc.

Honolulu-based Aston operates 34 condominium resorts and hotels on the four major islands in Hawaii.

Currency trader who lost $691 million indicted

BALTIMORE >> A U.S. currency trader accused of hiding $691 million in trading losses at Allfirst Financial Inc. was indicted yesterday by federal grand jury.

John Rusnak was indicted on charges of bank fraud, false entry in bank records, and aiding and abetting, said deputy clerk Agnes Finney. The indictment followed a four-month investigation into trading from 1997 to 2001.

Allied Irish Banks PLC, Allfirst's parent company, has accused Rusnak of covering up huge losses by fabricating purchases of options contracts -- which are designed to provide insurance for potential losses on currency purchases -- chiefly in Japanese yen.

Rusnak's lawyers have said Rusnak did not personally profit from the deception, but AIB has contended he received hefty bonuses in reward for what appeared to be profitable deals.

WorldCom plans up to 16,000 more job cuts

JACKSON, Miss. >> WorldCom Inc. plans another round of job cuts -- possibly as many as 16,000, or about 20 percent of its global work force, a company official familiar with the situation said yesterday.

Later in the day, after the stock markets closed, the Clinton-based company said it was exiting the wireless resale business, which generates some $1 billion in annual revenue and employs 2,200 people.

WorldCom said that slowing market growth prompted the decision to sell the business. Several major wireless carriers have expressed interest in the unit, the company said, but did not say how much it might fetch.

The layoffs would be the second round this year for WorldCom, which is facing $30 billion in debt.

Toys 'R' Us drops prices to battle giant Wal-Mart

TRENTON, N.J. >> Toys "R" Us will cut prices on about 200 popular items to better compete with Wal-Mart and Target, which sell those toys at cost or less to attract customers, the company's top executive told shareholders at their annual meeting yesterday.

The Paramus-based retailer of toys, children's clothes and accessories also plans to resume featuring its talking-giraffe mascot, Geoffrey, in advertising targeting parents who grew up with the character.

$80 million tobacco award reinstated by court

SALEM, Ore. >> The Oregon Court of Appeals yesterday reinstated a $79.5 million punitive damage award against Philip Morris in a lawsuit brought by relatives of a man who died after smoking Marlboros for four decades.

The award had been reduced to $32 million by a trial judge on grounds it was excessive. The appeals court decision could be appealed to the state Supreme Court.