U.S. stocks continued their pullback at midafternoon amid heavy profit taking in tech and Net stocks.
European bourses closed lower, while Asian markets were mixed, with Hong Kong's
up 77.29 to 10,711.56, and Japan's
down 7.51 to 13,360.97.
The yen fell sharply against the dollar amid rumors that the
Bank of Japan
intervened in the Japanese currency market by buying dollars and selling yen.
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said it has agreed to buy
property/casualty business for $3.45 billion in cash.
agreed to make its decisions to deny HMO members coverage subject to external review by outside experts.
has agreed to buy
, a provider of pharmacy services to nursing homes and prisons, in a deal worth $1.4 billion.
will step down as co-CEO of
to serve as sole CEO. Paulson and Corzine will continue as co-chairmen. Last night
take on the shake-up.
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agreed to acquire
for about $220 million.
said it will take a 28% share in
, an online investment bank that will raise capital over the Internet.
are scheduled to report fourth-quarter earnings after the market close today.
tells you what to expect from
Yahoo! in stories today.
will acquire billing software company
for $1.48 billion in stock. The company is also in talks to acquire networking supplier
discussed how an Ascend deal could affect the networking industry.
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The Russian government has cut its 1999 budget for foreign debt servicing to $4.6 billion from $9.5 billion.
British American Tobacco
agreed to acquire
Compagnie Financiere Richemont
for about $7.5 billion in stock.
Luxury goods manufacturer
LVMH Moet Hennessy Louis Vuitton
upped its holdings in
to more than 14.5% after buying out
9.5% stake in the fashion house.
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told North Korea that it would forfeit aid for a nuclear power project from the U.S., Japan and South Korea if it hindered the inspection of a suspected nuclear weapons site.
A U.S. fighter jet fired on another air-defense installation today in northern Iraq after it was targeted by Iraqi radar.
Securities and Exchange Commission
settled its investigation of improper trading practices on the
Nasdaq Stock Market
by levying $26.3 million in penalties to 28 brokerages.
is expected to announce his retirement tomorrow.
yesterday accused Rep.
(R, Ga.) of having an extramarital affair.