First there was the
. Now get ready for the next step in Europe's disappearing financial borders: the
No, Europe has not established a unified stock exchange -- not yet, anyway. But the wave of consolidation sweeping the telecommunications, banking and automobile industries is about to hit the region's financial markets as well.
On Monday, the bourses in Paris, Amsterdam and Brussels will announce they are merging, French newspaper
Le Journal du Dimanche
reported Sunday. They will collectively form an exchange to be known as the Euronext, the newspaper said.
The three bourses will have a combined market capitalization of 2.4 trillion euros, or $2.32 trillion, which will make the Euronext the second-largest exchange in Europe after London's,
The Wall Street Journal
In Other News
announced it will buy
sport utility line, a German newspaper is reporting that Ford is interested in taking over the entire German automaker.
Welt am Sonntag
reported Sunday that the two companies have discussed the possibility of a takeover through a third party over the past three months.
The newspaper also reported that
is looking at buying
, even after the Italian automaker announced a stock-swapping alliance with
is determined to see its planned merger with
U S West
go through, Qwest Chief Executive
Denver Rocky Mountain News
in an article published Sunday. While he didn't identify
as the third-party suitor that had looked at buying both companies, he said talk of a three-way deal likely would not be resurrected.
is conducting a criminal investigation into the crash of
The Seattle Times
reported Saturday. The newspaper said the agency was examining the airline's maintenance practices.
announced a voluntary recall of Carnation Good Start, Carnation Follow-Up and Carnation Alsoy 13-fluid-ounce concentrate on Sunday,
reports. The company said it fears these products may not have been fully sterilized, although it said it has not found proof of any bad samples.
A pair of new films this weekend demonstrated that moviegoers have not yet tired of legal dramas about contaminated water or thrillers featuring a boy with supernatural premonitions.
topped the box office with $28.2 million, knocking
Mission to Mars
to second place with $10.9 million.
debuted at No. 3 with $10.2 million.
men's hoops winners Sunday were:
, 65-51; and
In the Papers
How soon will today's hottest Internet companies burn out? That's the question
poses in this week's cover story. The magazine examined 207 companies' 1999 year-end cash reserves, and found that 51 wouldn't be able to last for more than a year without making a profit or finding additional funding. The five rated most critical were
Pilot Network Services
ranked 110 on the list, with cash to last 27.55 months under
Billions of dollars in revenues will be at stake when
square off in a Boston federal courtroom next month over
, a drug that treats anemia.
previews the patent-infringement case against TKT, which wants to produce Epogen through a different process.
Also in biotech,
, a biotech money manager for
Chase Hambrecht & Quist
. His largest holdings as of Dec. 31 were
New York Times
recounts the downfall of
Fruit of the Loom
, which is now mired in bankruptcy court. Its former CEO
William F. Farley
, whose fortunes rose as the company's fell, told the newspaper his personal finances are "ugly as sin" because of the company's now-depressed stock.
David Rheingold is a New York-based freelance writer. At the time of publication he had no positions in any of the securities mentioned, although holdings can change at any time.