U.S. stocks remained mixed at midday, with blue-chips extending their losses but Internet and other tech stocks advancing.
European bourses closed lower. Asian markets also suffered, as Japan's
shed 23.33 to 13,368.48, and Hong Kong's
dropped 88.43 to 10,634.27.
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has agreed to buy
, a provider of pharmacy services to nursing homes and prisons, for $1.4 billion.
said it will spend $55 billion to $60 billion on research and development over the next three years.
reportedly will step down as co-chairman and co-CEO of
to serve as sole chairman and CEO.
reportedly will claim its arthritis drug
is more effective at treating a broad range of pain than
, which the
Food and Drug Administration
has said can only be marketed as an arthritis treatment.
said it will cut as many as 1,200 jobs and liquidate excess real estate holdings in an effort to streamline operations.
today opened its first branch in China at a five-star Beijing hotel.
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said it will spend an additional $2 billion in 1999 accelerate its upgrade of
cable networks to handle bundled packages of TV, Internet and telephone services. The company also said it will not create a tracking stock for its consumer services business along with its purchase of TCI.
agreed to acquire billing software company
for $1.48 billion in stock. The company reportedly is also in talks to acquire networking supplier
said it will not bid for cellular phone giant
, leaving AirTouch to continue talks with
Packard Bell NEC
CEO Beny Alagem reportedly is in talks to acquire a large stake in
Samsung Group's AST Computer
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British American Tobacco
agreed to acquire
Compagnie Financiere Richemont
for about $7.5 billion in stock.
reportedly is in merger talks with several companies, including Sweden's
Guangdong International Trust and Investment
, the investment unit of the wealthy Chinese province of Guangdong, has filed for bankruptcy with debts of $4.3 billion.
Long Term Credit Bank of Japan
to assess its assets and help find a receiver for its operations.
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Two U.S. fighter jets fired on an air defense installation today in northern Iraq after they were lit up by Iraqi radar.
U.S. payrolls rose by 378,000 new jobs in December, the biggest monthly gain in more than a year.
Bank for International Settlements
meeting in Hong Kong,
told the heads of 16 central banks, including 11 from the Asia-Pacific region, to expect any slowdown of the U.S. economy to be "relatively moderate."
Communications and pharmaceutical mogul Daniel Snyder and banking brothers Howard and Edward Milstein have agreed to purchase the
Jack Kent Cooke Stadium
for $800 million.