Computers May Face Bigger Threat From Viruses Than From Y2K

According to one source, the Feliz.Trojan virus will wipe out files before wishing you a happy New Year.
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The good news this weekend was that there was no news -- at least as far as the dreaded Y2K bug was concerned.

Financial markets around the world geared up for trading Sunday without any major glitches. For more on the markets' readiness,

TheStreet.com

has the complete

story.

So far, it seems, the year 2000 changeover has had about as much effect on the world's economy as an odometer's turnover has on the performance of a car.

But before you breathe a sigh of relief,

Computer Associates International

(CA) - Get Report

is sounding the alarm on some very real and very destructive viruses on the horizon. One such program, called Feliz.Trojan, will delete certain key system files before wishing you a happy New Year. Pass the champagne.

For months, gun enthusiasts have been buying up firearms in anticipation of class-action lawsuits against the industry. Now, U.K. conglomerate

Tomkins

(TKS)

is looking for someone to buy its handgun unit

Smith & Wesson

, the

Financial Mail on Sunday

reports. Sources told the newspaper a sale could fetch up to $161 million.

Rolls-Royce

is looking at a merger with aero-engine rival

Pratt & Whitney

, a unit of

United Technologies

, London's

Sunday Business

reports.

NM Rothschild

and

Goldman Sachs

pitched the idea to the luxury automaker, the newspaper said.

Elsewhere in England, France's

Thomson-CSF

(TCSFY)

could launch a takeover bid for the U.K.'s

Racal Electronics

(RCALY)

as early as this week, the

Sunday Times

reports. The newspaper said Britain's

Ministry of Defense

has OK'd the proposed deal.

There were too many exciting Bowl games on New Year's Day to describe in great detail here, but one performance deserves mention.

Georgia

overcame a 25-point deficit to beat

Purdue

28-25 in overtime in the

Outback Bowl

.

In the Papers

Barron's

toasts the New Year with an upbeat forecast for 2000. A panel of experts predicts another strong year for the

Dow

, though none dared to predict it would finish the year above 13,000.

Also in

Barron's

is a feature on a lawsuit against

Foamex

Chairman Marshall Cogan. A group of creditors and shareholders are accusing Cogan of using Foamex to finance a luxurious lifestyle.

The Sunday edition of

The New York Times

features a closer look at broker/entrepreneur Mohammad Ali Khan, who stands accused of defrauding millions of dollars from a list of famous (and infamous) clients, including the

Gambino

crime family.

David Rheingold is a New York-based freelance writer. At the time of publication he held no positions in any of the stocks mentioned, although holdings can change at any time.