This ain't no
Dow 10K party. The
Dow Jones Industrial Average
sagged today along with most other major proxies, largely under the weight of loss leaders
. The Dow lost 21.09 to 9876.35; the
shed 3.09 to 1294.59; the
Nasdaq Composite Index
fell 30.70 to 2381.55; the small-cap
dropped 2.70 to 398.38; and
TheStreet.com Internet Sector
index sank 16.08 to close at an even 568.00.
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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said it will buy
Long John Silver's Restaurants
as soon as the chain emerges from Chapter 11.
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.
The state of California has taken control over the ailing
MedPartners Provider Network
, placing the health plan in Chapter 11 bankruptcy protection.
The Los Angeles Times
reported that regulators took action to ensure that patients of the company, a subsidiary of Birmingham, Ala., practice management firm
, wouldn't lose care.
plummeted nearly 40% after the company reported fourth-quarter earnings of 30 cents a share -- a whopping 22 cents under the
consensus. The spectacle made
wax nostalgic for
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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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U.S. Secretary of State
today accepted the NATO admission papers of Poland, Hungary and the Czech Republic, formalizing their entry into the organization.
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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Not all college basketball players leave school early for the fame and fortune of an
University of Kansas
basketball player Billy "B.J." Williams got six months after pleading guilty to exposing himself to neighbors. Williams stayed four years at Kansas, graduating in 1997 with a bachelor's degree.
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