U.S. stocks were mixed at midday, as blue-chips posted modest gains while mixed performance from technology issues kept the
Nasdaq Composite Index
bobbing around break-even.
European bourses closed mixed, while Japan's
lost 11.88 to 14,146.79 on the heels of yesterday's carnage on Wall Street. The
Bank of Japan
lowered its overnight call rate to 0.08%, and Gov.
said a rate of zero would be acceptable. Hong Kong's
was closed for the New Year holidays.
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testified that its pilots union's "sickout" cost the company more than $150 million. At stake is the question of the union's liability for American's losses.
said it will close or sell between 15 and 20 factories and lay off 3,000 to 4,000 workers over the next four years. The company will take a $900 million charge for the restructuring.
call-buying on Heinz last week.
agreed to buy
for $10.8 billion in stock, cash and assumed debt. Aegon, which would become the third-largest insurer in the U.S. with the deal, plans to combine Transamerica with the U.S. insurance businesses of
, acquired in 1997.
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Federal Communications Commission
acquisition of cable giant
without requiring the companies to allow competitors to use TCI's high-speed cable TV lines.
said it will begin selling computers running the
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Producer Price Index
jumped 0.5%, the biggest leap since October 1996. Excluding food and energy components, the index fell 0.1%.
told reporters that he warned
in a recent telephone conversation that Russia "will not allow Kosovo to be touched" by U.S. airstrikes even if Yugoslavia fails to make peace with rebels in that region by Saturday's deadline.
Employers have averted a strike by reaching a last-minute agreement with the German metalworkers union
will likely be pressured to resign at the company's board meeting tomorrow, according to the
. NEC is widely expected to announce large losses tomorrow.
A Holocaust survivor filed a lawsuit in U.S. District Court against
, charging that the German pharmaceutical firm participated in atrocities performed by Nazi doctors at Auschwitz. Bayer has previously denied any involvement in Nazi medical experiments.
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may have found their new starting quarterback. The team yesterday signed
, a 31-year-old career third-stringer who's never made an
start, to a $4.5 million contract. That's Doug Pederson. Doug Pederson.
The big guy's leaving the Big Apple. The
New York Yankees
shook up the rotation in a huge way today, trading the adipose
Toronto Blue Jays
for five-time Cy Young winner
. The Jays will also receive pitcher
as part of the deal.
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