House of Fraser cautious as losses narrow: British department store House of Fraser said its first-half losses narrowed and reported an upturn in current sales, but remained cautious on Wednesday about prospects this year. The retailer's loss before tax in the 26 weeks to August 1 fell to 1.8 million pounds ($3.08 million) from 2.5 million pounds a year ago. Total sales were up 2.2 per cent to 352.8 million pounds. Sales in the eight weeks since the start of the second half were ahead by 7.4 percent on a like-for-like basis.

Swiss Life expects higher full-year profit: Insurance group Swiss Life/Rentenanstalt said it expected 1998 group profit to be higher than budgeted. "Consolidated profit for the year will be higher than budgeted, on the condition that no greater turbulence occurs in stock and foreign currency markets," Swiss Life said in its statement on first half results. Swiss Life also reported that its first half consolidated profit more than doubled to 174.0 million Swiss francs from 75.4 million for the first six months of 1997.

Russian firm insures Samsung employees: Russian insurance firm East European Insurance Company said it had signed a $810,000 contract to insure employees of Samsung Engineering Co Ltd, a unit of South Korea's Samsung Group. The policy will cover Samsung Engineering personnel's medical services abroad, insurance against accidents and voluntary medical insurance, the firm said in a statement. Earlier this month East European Insurance Company insured Samsung Engineering workers against injuries when building a school for children of the US and British diplomats.