U.S. stocks are bouncing back after a sharply negative start. Technology stocks and blue-chips posted modest losses, while Internet stocks were trading in positive territory.
European bourses were trading lower at midafternoon, while Japan's
lost 73.97 to 14,158.67. Most other Asian markets were closed for the New Year holidays.
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, publisher of the
tabloids, for $300 million, and will hire veteran magazine publisher
to run the company.
said it is in talks with potential buyers to unload its auto parts business for about $2 billion.
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matched Wall Street estimates with fourth-quarter earnings of 31 cents a share and announced a 2-for-1 stock split. But slowing earnings growth sent the stock plummeting in after-hours trading. Down as low as 76 in early trading, Dell was lately down 5 1/2 to 83 1/4.
is in talks with
to develop a closer business relationship and may purchase a minority stake in the company, according to
The Wall Street Journal
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said that home construction increased 3.8% in January to a 12-year high.
A South African prosecutor is considering bringing murder charges against the officers accused of the 1977 beating death of anti-apartheid leader
. Yesterday South Africa's
Truth and Reconciliation Commission
denied amnesty to three of the five officers. A fourth was denied amnesty in December, and the fifth has died since the killing, for which the officers have never admitted their culpability.
Indonesian police fired tear gas into a rioting crowd of 25,000 workers and protesters in Jakarta.
, Japan's No. 1 steel producer, called allegations that it and other Japanese steel companies are dumping exports "hard to understand."
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Heisman Trophy was auctioned off along with other memorabilia for $430,000 last night. The proceeds will go toward the $33.5 million Simpson owes the families of
Nicole Brown Simpson
. The Heisman itself brought $255,500.
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