Away From the Pack
Date: 25 July 2001
By Alex S. Jones
Alex Jones
Alex S Jones Op-Ed comment on news coverage of Chandra Levy disappearance case in Washington observes that television organizations yearn to distinguish themselves from the pack but also panic at prospect of being truly different; applauds Dan Rather of CBS for refusing to follow events obsessively on his nightly news program (S)
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Two Stations, One Tabloid, One Owner
Date: 26 July 2001
By Jayson Blair
Jayson Blair
Federal Communications Commission approves Fox Television Holdings' acquisition of Chris-Craft, which owns ten television stations, giving Rupert Murdoch's News Corporation control of three major news media properties in New York: The New York Post, WNYW-TV and WWOR-TV; photo (M)
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World Business Briefing
Date: 26 July 2001
By
AMERICASBRAZIL: PETROCHEMICAL CONTROL In a move to consolidate local holdings, the Brazilian engineering and petrochemicals companies Odebrecht and Grupo Mariani paid $314 million for control of the country's largest basic petrochemical complex, Petroquímica do Nordeste. The consortium, which already held a minority stake in the petrochemicals maker, known as Copene, was the only bidder in the government auction of 23.73 percent of the company's shares. The central bank twice failed to sell the shares, which it assumed in a 1995 bailout of Banco Económico. Jennifer L. Rich (NYT) EUROPE BRITAIN: LENDER'S RESULTS DISAPPOINT Abbey National's first-half profit rose 12 percent, less than analysts had expected, after Abbey National, one of Britain's largest mortgage lenders, said it had set aside more money than expected to cover potential defaults by United States corporate borrowers. Net income rose to £698 million ($994 million), or 47 pence a share, compared with £626 million, or 42 pence, last year. Analysts had expected a 14 percent rise in income. The bank, whose planned merger with Lloyds TSB was recently blocked by regulators, said it had set aside £64 million to cover potential loan losses in the United States. Abbey National shares fell 10 percent. Suzanne Kapner (NYT) BRITAIN: BSKYB LOSS GROWS As it spends heavily to attract viewers to its digital service, the British satellite broadcaster BskyB posted widening losses for the fiscal fourth quarter, its ninth successive quarterly loss, but said it had increased its subscriptions a fifth over the full year. Its shares rose as much as 2.1 percent. The company said it had increased spending on sports, movies, entertainment and interactive services to draw new customers and had expanded its subscriptions 22 percent, to 5.45 million, well ahead of rivals. But fourth-quarter losses were $244 million, roughly a third more than in the period a year ear
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Computer Files on Recount to Be Released
Date: 26 July 2001
By Dana Canedy
Dana Canedy
Katherine Harris, Florida secretary of state, reverses her position and says she will allow reporters to inspect hard drives of computers used to draft correspondence in presidential stalemate last November; says she wants to 'remove any doubts' about her compliance with open-records laws; article about handling of overseas absentee ballots during election prompts Harris's latest decision; Harris maintains her actions during election were 'fair, consistent and evenhanded'; photo (M)
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World Business Briefing | Europe: Britain: Reuters Net Falls
Date: 25 July 2001
By Suzanne Kapner (NYT)
Suzanne NYT
Reuters Group's first-half profit fell 21 percent, to 269 million pounds ($381 million); company will cut 1,340 jobs, or about 7 percent of work force (S)
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EXXON MISSES FORECAST; CHEVRON TOPS IT
Date: 25 July 2001
By Bloomberg News
Bloomberg News
Exxon Mobil reports net income of $4.46 billion in second quarter compared with $4.53 billion year earlier; Chevron reports 18 percent increase in profits; net income rose to $1.32 billion compared with $1.12 billion year ago (S)
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NTELOS WILL BUY CONESTOGA FOR $408 MILLION
Date: 26 July 2001
By Bloomberg News
Bloomberg News
Ntelos Inc, provider of telecommunications services, acquires Conestoga Enterprises Inc for $408 million in stock and cash; will assume $73 million indebt (S)
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AFLAC SHARES DECLINE AS GROWTH IN JAPAN SLOWS
Date: 26 July 2001
By Bloomberg News
Bloomberg News
Aflac Inc says profit fell to $153 million in fiscal first quarter from $202 million year earlier; sales were flat at $2.3 billion; shares fall $3.35, to $28.20 per share (S)
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BOSTON SCIENTIFIC INVESTS IN ENDOTEX, A MAKER OF STENTS
Date: 26 July 2001
By Bloomberg News
Bloomberg News
Boston Scientific Corp, which makes artery-clearing devices, is collaborating with Endotex International Systems Inc on products used to widen blood vessles in neck; Boston Scientific will make undisclosed investment in Endotex and has exclusive option to buy company (S)
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EXXON MOBIL CHIEF TO STAY PAST RETIREMENT AGE
Date: 26 July 2001
By Bloomberg News
Bloomberg News
Lee Raymond, Exxon Mobil Corp's chairman and chief executive, will remain with company beyond his planned retirement in 2003 to give board more time to find successor (S)
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