U.S. stocks across the board took a sharp downturn at the open, but Internet stocks had climbed back into the black at midmorning.
European bourses generally were trading lower at midafternoon.
Asian markets picked up where they left off yesterday, with Hong Kong's
up 459.77 to 10,693.57 and Japan's
up 68.10 to 13,536.56.
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DIS:NYSE) Chairman and CEO
received a $5 million bonus for fiscal 1998, down 49% from the previous year in accordance with the company's sluggish 1998 performance.
Chief of Staff
will join buyout firm
as a partner.
GUC:NYSE) skyrocketed yesterday after luxury goods maker
LVMH Moet Hennessy Louis Vuitton
LVMHY:Nasdaq ADR) said it bought a 5% stake in the company.
NOC:NYSE) said it will take a $125 million charge in the 1998 fourth quarter and estimated that 1999 profits will be as much as 20% beneath analysts' figures.
P:NYSE) announced that it will eliminate 1,400 jobs in 1999. The company also said that a $339 million charge will contribute to a net loss for the 1998 fourth quarter.
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WCOM:Nasdaq) reportedly is set to join
VOD:NYSE ADR) and
BEL:NYSE) in the bidding fray for
MSFT:Nasdaq) tomorrow will announce an alliance with satellite TV company
DISH:Nasdaq) to provide interactive television via satellite.
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agreed to sell its stake in semiconductor unit
Hyundai Group's Hyundai Electronics Industry
VOLVY:Nasdaq ADR) reportedly has hired a U.S. investment bank to help it sell its car division.
Bank of England
cut its benchmark interest rate to 6.0% in anticipation of worsening domestic and international economic conditions.
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The impeachment trial of
The number of Americans filing for first-time unemployment benefits declined last week by 22,000.
A U.S. fighter plane fired an antiradar missile at an Iraqi air-defense installation that the pilot determined was ready to fire on him.
Details have emerged showing that the
United Nations Special Commission
shared information on Iraq with the U.S.
Central Intelligence Agency
, one day after the White House and U.N. chief weapons inspector Richard Butler denied the allegations.
named Reggie White the
National Football League's
Defensive Player of the Year.
National Basketball Association
and the players union reached an agreement yesterday that will save a portion of the 1998-99 season.