Stocks were modestly higher at midmorning, with technology and Internet issues pacing the market.
European bourses were mixed at midafternoon, while Asian markets closed higher. Hong Kong's
gained 35.10 to 10,836.86 as the government reported that unemployment in that country has hit a record 6%. Japan's
soared 290.74 to 15,779.60 amid continued optimism that the Japanese economy is turning the corner toward recovery.
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In a marriage of Northeast banking powerhouses,
for $16 billion in stock. The deal will create
, the eighth-largest U.S. bank in terms of assets.
has put the kibosh on merger talks with
, saying that it will instead focus on its radio and advertising operations. Chancellor also announced the resignation of CEO Jeffrey Marcus, who will be replaced by Thomas O. Hicks, currently the company's chairman.
said it will buy out the 80% stake in seed company
Pioneer Hi-Bred International
that it doesn't already hold. DuPont will pay about $7.7 billion in cash and stock.
Putting on weight to defend itself against takeover bids,
El Paso Energy
is acquiring fellow natural gas pipeliner
for about $6 billion in stock and assumed debt.
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Federal Communications Commission
today released details on its long-awaited audit of the Baby Bells, showing they are missing or overstating about $5 billion worth of equipment. The audit, whose accounting procedures the Bells dispute, could lead the FCC to force telephone rates lower.
today announced that a consortium of companies including Nortel,
will work together to develop a new platform to run large corporations' voice and data networks.
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Let the cakewalk begin:
(D, Mo.) today endorsed Vice President
for the Democratic presidential nomination in 2000.
Peace talks between Serbs and ethnic Albanian rebels have reopened in Paris, sponsored by the six-nation Contact Group: the U.S., Russia, France, the U.K., Italy and Germany.
National Security Council
said today that Kosovo Albanians are ready to sign a deal.
unloaded its 10.2% stake in U.K. telecom holding company
Cable & Wireless
for about $2.93 billion, a discount of at least 11.5% based on Friday's closing price.
The German government reported that manufacturers' orders in that country rose 1.8% in January, the first jump in six months.
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Oooh, more pay-per-view! The
International Boxing Federation
World Boxing Council
World Boxing Association
have ordered a rematch of Sunday's fight between
, who fought to a draw despite the fact that Holyfield landed 228 fewer punches than Lewis. The rematch must take place within six months.
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