Stocks were levitating at midafternoon, holding onto early gains. Blue-chips traded higher but were outpaced by red-hot technology and Internet issues.
European bourses closed higher, as did Asian markets. Hong Kong's
gained 70.47 to 9146.80, while markets in Tokyo, Taiwan and China were closed for holidays.
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A federal judge issued a temporary restraining order that will force
pilots back to work. But the pilots called in sick again, and American canceled more than 1,100 flights.
confirmed its plans to move its credit-card business from
Federated Department Stores
is acquiring direct marketer
in a $1.7 billion.
Real estate investment trust
Patriot American Hospitality
plans to give up its REIT status in connection with restructuring the company is negotiating with two rival bidders, according to
The Wall Street Journal.
That's a lot a
miles -- a California jury ordered
to pay a total of $51.5 million in punitive and compensatory damages to a smoker with inoperable cancer.
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posted third-quarter earnings of 18 cents a share, blowing away Street estimates of 10 cents a share, and announced a 2-for-1 stock split.
Electronic Data Systems
will exchange 13,000 employees and $17 billion worth of assets. EDS is buying MCI WorldCom's information technology services unit, and will receive a 10-year outsourcing contract for MCI WorldCom's software development and maintenance services business. In turn, MCI WorldCom will get a 10-year contract for EDS' voice and data communications services business.
is selling its 2,000 communications towers to
for $560 million.
said that, contrary to previous reports,
supports its acquisition of Web portal
. CMGI owns 20% of Lycos.
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testified before the
House Banking Committee
on the issue of how to revamp the 1933 Glass-Steagall Act, which put sharp barriers between the banking, brokerage and insurance industries. Greenspan voiced his support for a bill proposed by committee Chairman
(R, Iowa), which would let banks extend their operations through a holding company structure regulated by the Fed.
of Vermont and
of Pennsylvania in the ranks of Republican senators who said they will not vote to convict
on charges of obstruction of justice and perjury.
U.S. warplanes once again fired on several air defense installations in Northern Iraq.
its new CEO, effective March 26. O'Neill, president of
financial services unit, is the first foreigner named to that position at Barclays.
Bank of England
said that the U.K.'s 1999 growth rate may be as low as 0.5%.
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New Zealand's parliament votes today on an Animal Welfare Bill that would give chimpanzees, orangutans and gorillas such fundamental rights as the right to life and freedom from cruel and unusual treatment.
Chimps are currently slaughtered for food in parts of Africa and kept for experiments in parts of the U.S.
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