Mum was the word this weekend on talk of a three-way telecommunications merger and an Alaskan oil selloff. Perhaps people are starting to take Sundays off for a change?
Amid renewed discussions over their planned acquisition of
, the top executive and biggest investor at
are looking to sell their company,
The New York Times
reported Saturday. Germany's
, rumored to be interested in buying both companies, did not make any announcements concerning such an offer this weekend.
Meanwhile, Deutsche Telekom has made an offer for the U.K.'s
Cable & Wireless
The Sunday Business
newspaper in London reported.
also was reported to have made an offer.
is in talks with three oil companies interested in buying the Alaska operations of
The Sunday Telegraph
in London reported. The newspaper named
as the interested parties. BP is planning the divestiture to avert a court battle with the
Federal Trade Commission
, which has objected to its proposed merger with Arco on antitrust grounds.
Industry sources also tell
that because high oil prices have boosted the value of Arco's Alaskan assets, any BP takeover would likely be reduced in scope.
The FTC, meanwhile, may challenge the joint purchase of industrial-gas maker
Air Products and Chemicals
, sources tell
. The news agency says FTC lawyers are skeptical that the companies will be able to divest themselves of plants, as government regulators are asking.
In the race to break the computer-processing speed limit,
Advanced Micro Devices
of Sunnyvale, Calif., announced Monday it has begun shipping one gigahertz processors. Analysts told
they were also expecting
to announce a one gigahertz processor this week.
The United Arab Emirates will buy 80 F-16 fighters from
for $6.4 billion, both sides announced. The planes will be shipped from 2004 to 2007.
plans to buy a 5% stake in
, the Japanese business daily
Nihon Keizai Shimbun
reported Monday. The automaker plans to buy the shares from top shareholder
for 10 billion yen, or $92.7 million, the newspaper said.
could feel the sting of South Carolina's tourism industry. The
National Association for the Advancement of Colored People
is considering a boycott of the beverage giant following African-American employees' allegations of discrimination and racism,
reported. Since Jan. 1, the
has waged a tourism boycott of South Carolina because of the Confederate flag atop the Statehouse.
Unable to reach an agreement with 18,000 striking workers,
announced Sunday that it would impose the terms of its final offer. The company's engineers have been on strike since Feb. 9.
Stocks climbed in early trading in Tokyo. The
index was up 204.97 points to 20,132.51, an increase of 1.03%.
In the Papers
Food made with genetically modified crops will not be allowed to be sold under the organic label under the new rules the U.S. Department of Agriculture plans to announce within the next few days,
The New York Times
reported Sunday. The regulations also bar irradiation and the use of sewage sludge as fertilizer in organic-labeled food, the newspaper said.
The cover story in the latest issue of
Clear Channel Communications'
buying binge may be slowing. The company, which last week announced it was acquiring
, faces the same challenges confronting the radio industry as a whole: competition from satellite radio and small broadcasters.
may well be the world's largest company by 2003, with 100 million customers and a market capitalization of $1 trillion or more, an analyst predicts in
. The company's successful takeover of Germany's
makes it the only true worldwide wireless company, the news magazine notes.
also features an interview with Tony Orphanos, manager of the
Howard Equity Fund
in New York. His stock picks include
David Rheingold is a New York-based freelance writer. At the time of publication he was long Intel, although holdings can change at any time.