Survey shows companies plan to create more jobs

MILWAUKEE >> Companies expect to add more jobs in the third quarter, continuing a steady recovery from recession levels, a survey being released today shows.

Twenty-seven percent of the companies said they planned to add jobs in July through September, while 8 percent said they anticipated cutting staff, according to Manpower Inc.'s quarterly survey of 16,000 firms nationwide.

The rest of the companies said they either expected to maintain their staffing levels or were uncertain about hiring activities.

When seasonally adjusted, the findings reflect a 14 percent increase in hiring activity compared with the first two quarters of the year.

"The trend has definitely turned," said Jeffrey Joerres, chairman and chief executive of Manpower, the nation's largest staffing company.

The third-quarter results are nearly identical to the findings from the same period last year but still are not back to normal employment levels, Joerres said.

The nation's unemployment rate jumped to 6 percent in April -- the highest in nearly eight years. Economists say companies are worried about the recovery's staying power and are reluctant to quickly rehire workers.

NTT annual loss is among the largest ever in Japan

TOKYO >> Nippon Telegraph and Telephone Corp. is expected to report the biggest annual losses ever for a nonfinancial firm in Japan Tuesday as it books the costs of restructuring and writes down the value of overseas investments.

NTT warned in early April that it was facing &YEN2.1 trillion ($16.5 billion) in noncash charges that would push it deep into the red with a group net loss of &YEN865 billion ($6.78 billion) for the financial year that ended on March 31.

American Express reopens in New York

NEW YORK >> Lower Manhattan took another step toward recovery today as financial services giant American Express Co. reopened its world headquarters near the site where the World Trade Center was destroyed by hijacked airliners Sept. 11.

The American Express tower, located in the World Financial Center complex along the banks of the Hudson River, was officially reopened by American Express Chairman and CEO Kenneth I. Chenault at a ceremony attended by several hundred employees. Business leaders and politicians including Mayor Michael Bloomberg and Gov. George Pataki were also on hand.

Sears acquires Canadian rights to Martha Stewart

NEW YORK >> Sears Canada Inc. said today it agreed to become the exclusive Canadian retailer for the Martha Stewart Everyday brand label next year under a merchandising agreement with Martha Stewart Living Omnimedia Inc.

Terms were not disclosed.

The move comes after Canadian retailer Hudson's Bay Co. said it will drop the product line from its Zellers stores next year.

Through the new distribution agreement, Sears Canada will have exclusive rights in Canada to sell the label's merchandise in the bed and bath, housewares, gardening, textiles and seasonal product categories.

The agreement will take effect in summer 2003.