![]() May 27, 1998 |
![]() Stocks fall sharply on Wall Street Stocks slumped Wednesday as investors fretted about Asias growing economic woes and their potential impact on corporate profits. So-called safe-haven buying continued to support bonds, while the dollar barely budged. Gateway wins concessions from Microsoft on Web browsers Gateway Inc. plans to let customers choose which Internet browser they use in its new home computers after winning the concession from Microsoft Corp. It is the latest sign of flexibility by Microsoft, which is under pressure from a series of antitrust lawsuits filed by the Department of Justice and state attorneys general. Moodys downgrades credit for five Japanese banks Moodys Investors Service downgraded credit and financial strength ratings for five major Japanese banks on Wednesday, citing concern over Japans weakening economy and the Asian financial crisis. Boeing production increase leads to delivery problems he Boeing Co.s push to double production on newer models of jetliners will mean delivery delays through 1998, a company official said today. Last week, there were about 60 jetliners in the Renton plant awaiting final preparation for delivery roughly four times the normal number. Japanese auto production drops Japanese automakers produced 14.1 percent fewer vehicles in April than a year earlier, an industry group said Wednesday. The production of cars, trucks and buses in Japan tumbled more than 125,000 vehicles to 761,766, the Japan Automobile Manufacturers Association said. Asian markets plunge Stocks tumbled across Asia today as investors reacted to a sharp drop on Wall Street and regional difficulties that range from gloom about Hong Kongs economy to labor troubles in South Korea and the yens weakness. No matter where you look this morning, theres bad news, said Kent Rossiter, senior investment adviser at Nikko Securities in Hong Kong. Tough conditions for MCI/WorldCom? U.S. and European antitrust enforcers are likely to demand a substantial divestiture of Internet capacity by either WorldCom Inc. or MCI Communications Corp. as a condition for approval of their $37 billion merger, government officials said. Markets plunge across Asia Stocks tumbled across Asia on Wednesday as investors reacted to a sharp drop on Wall Street and regional difficulties that range from gloom about Hong Kongs economy to labor troubles in South Korea and the yens weakness. Applied Materials to start layoffs Applied Materials Inc., the worlds biggest maker of semiconductor equipment, said it will launch a voluntary work force reduction plan next month and, as a result, expects a third-quarter restructuring charge of up to $30 million. Jakartas confidence game Can the new political regime resurrect that old business confidence? By Kari Huus. Banking on the Internet Can you make a buck as a savings bank in cyberspace? Thats the question posed by a $152 million bet that Wall Street has riding on an Atlanta company going by the name of Atlanta Internet Bank. By Chris Byron. Wall Streets weightlessness withers Investors asking themselves whether the Dows 150-point drop and Nasdaqs 27-point decline Tuesday represents the beginning, middle or end of a meaningful downturn are likely to be disappointed with the answer. By Aaron Task. Going high tech in the Holy Land One pocket of strength in Israels otherwise sagging economy is the technology sector and it gets stronger by the day. By Hanson Hosein. [Home] [News] Business [Sports] [Technology] [Living Travel] [Opinion] [On Air] [Weather] |