PR Newswire sees 2002 profits sink

NEW YORK: PR Newswire has reported a 21% decrease in revenues and a43% decrease in profits for the first half of 2002.

According to a release from London-based parent company United BusinessMedia (UBN), the drop is due to the fact that "corporate scandals andcost pressures are curtailing customer expenditure, and clients arecontinuing to trade down to lower-cost distribution."

Charlie ...