Stocks were mixed in the early afternoon, with the
Nasdaq Composite Index
sagging badly, while the
Dow Jones Industrial Average
was handcuffed to the break-even point, well off its early session high.
European markets closed mixed. Germany's
soared more than 5% after German Finance Minister
resigned last evening. Yesterday afternoon,
weighed in on the departure of Oskar, whom Chancellor
today replaced with Hesse State Governor
Asian markets were mixed, as Japan's
lost 13.28 to 15,488.86. But Hong Kong's
surged 138.95 to 10,801.76 on the heels of yesterday's rally on Wall Street.
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is shelling out $63.5 million in fines to settle charges that employees moved millions of dollars from unclaimed customer accounts into its own accounts and falsified records to cover up the theft.
yesterday vowed to start a proxy fight to make
RJR Nabisco Holdings
spin off its food business rather than its U.S. tobacco operations. Icahn holds about 7.7% of the company. RJR CEO Steven F. Goldstone says the company will proceed as planned.
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Fleet Financial Group
is considering spinning off
, the online discount brokerage it acquired when it bought
Quick & Reilly
said it plans to announce details of its reorganization into four major groups in the "near future."
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Representatives from Iran, Mexico, Saudi Arabia and Venezuela today agreed to cut their oil production by more than 2 million barrels a day.
House Banking Committee
yesterday passed a compromise bill to overhaul the 1933 Glass-Steagall Act, which erected sharp barriers between the banking, insurance and securities industries. The bill would let subsidiaries of banks regulated by the
move into any financial activity except insurance and real-estate development, but require banks with assets of more than $10 billion to expand through the holding company structure that
Days after ending talks with
will likely announce a broad agreement with France's
as soon as next week, according to the
each rejected a $38 billion hostile bid for both banks made by
Banque Nationale de Paris
and said that they will merge as planned.
The Australian state of Victoria will sell gas distribution and retail companies
to U.S. utility holding company
and Australian financial services group
for about $1.26 billion.
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March Madness kicked off yesterday with a number of first-round upsets. The Goliath-killers are
University of Detroit
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