The 30-year Treasury bond bounced back unexpectedly, but U.S. stocks didn't care. Blue-chips put in another lackluster performance, and investors thought it best to let sleeping technology stocks lie, as the
Nasdaq Composite Index
closed sharply lower. Internet issues were mixed, closing around break-even.
New York Stock Exchange
is looking at ways to use electronic trading to compete with the
Nasdaq Stock Market
, according to
The Wall Street Journal
. The NYSE reportedly is considering four options: putting together its own electronic exchange; combining with an existing electronic communications network like
; forming an alliance with rival Nasdaq; or doing nothing at all.
European bourses finished lower, and Asian markets closed mixed. Hong Kong's
dropped 200.42 to 9858.49, while Japan's
gained 102.91 to 14,367.54.
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. A U.S. district judge today granted a restraining order forcing the
subsidiary to stop providing CBS and Fox programming to customers who could otherwise receive those channels from local stations.
Shareholders approved the merger of energy companies
, clearing the way for a 40% staff reduction, or about 500 jobs.
Metropolitan Life Insurance
Asahi Mutual Life Insurance
announced a U.S. asset management joint venture, of which Asahi Mutual will hold 51%.
U.K. pharma firm
for marketing osteoporosis drug Evista as an alternative to Nolvadex, Zeneca's breast cancer drug. Evista does not have
Food and Drug Administration
approval as a breast cancer treatment, although one major study suggested its efficacy in that capacity.
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Federal Communications Commission
has classified Internet dial-ups as long-distance, rather than local, calls. The ruling should end the "reciprocal compensation" that the Baby Bells must pay independent local carriers for routing incoming calls to Internet service providers to the Internet.
Dutch consumer electronics maker
is offering more than $800 million in cash to buy semiconductor company
. VLSI has until March 3 to respond.
For more tech news and commentary, click
released revised figures showing that the U.S.
gross domestic product
increased 6.1% for the last three months of 1998, the quickest clip since the mid-1980s.
With peace talks suspended, tension is mounting between rebels in Kosovo and Serbian forces. Yugoslavia has placed about 4,500 troops backed with tanks and heavy artillery on the province's border, according to
spokesman Kenneth Bacon.
new $58 billion hostile takeover offer and asked Italy's stock market regulator,
, to review the offer.
LVMH Moet Hennessy Louis Vuitton
is suing to thwart
poison-pill defense of LVMH's slowly expanding stake in the company. Gucci attempted to dilute LVMH's ownership from 34.4% to 26% by granting employees options to buy 37 million new shares.
is readying a bid of more than $3 billion for U.S. truck and bus maker
, according to Swedish newspaper
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John Lee Hooker
is returning $20,000 that came with the
Lifetime Achievement Award
he was awarded from the
Rhythm & Blues Foundation
, saying that the money should go to a needier artist.
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