WORLD

WORLD
Sony, Bertelsmann agreeon details of music merger
FRANKFURT, Germany -- Beyonc & eacute; and Christina Aguilera will be singing for the same label under a final merger agreement announced Friday by Bertelsmann AG and Sony Corp., which will create the world's second-largest music company.
As the music industry struggles with losses for which widespread file-swapping on the Internet is blamed, the two companies announced nearly a month ago their intention to merge their recorded music divisions.
Sony's music company is No. 2 in the world behind Universal Music Group, a part of Vivendi Universal SA, and Bertelsmann's BMG music division was No. 5.
The new company, which merges the record labels and music production, is to be called Sony BMG and will be equally owned by Sony and Bertelsmann, the two companies said in a statement.
NATION
GM aims to boost fundingfor its U.S. pension plans
DETROIT -- General Motors Corp. expects its once-lagging U.S. hourly and salaried pension plans to be nearly fully funded by the end of the year, reflecting the improved performance of financial markets and cash contributions.
GM also will contribute $4.1 billion more in cash to the plans by the end of 2003 if it is able to complete the planned sale of its Hughes Electronics Corp. subsidiary by year's end, the automaker said Friday.
That would bring GM's 2003 contributions to $18.5 billion.
The world's No. 1 automaker said it doesn't expect to be required to make additional cash contributions to the pension plans until at least 2010.
Associated Press