San Jose Newspaper to Push For San Francisco Area Readers
Date: 03 April 2000
By Joseph B. Treaster
Joseph
San Jose Mercury News will expand San Francisco bureau and create new daily section devoted to city; will cut price of paper in city to 25 cents from 35 cents; plans to bolster its arts and entertainment coverage to appeal to city readers; responds to Hearst Corp plan to sell San Francisco Examiner and buy San Francisco Chronicle (M)
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Britain Raises Barriers High Against the Asylum Seekers
Date: 03 April 2000
By Sarah Lyall
Sarah Lyall
Britain enacts sweeping law that will make it far less attractive to asylum seekers; this is latest effort by West European governments to stem tide of immigrants flowing into region, many of them from war-ravaged, post-Communist Eastern Europe; more than 70,000 people applied for asylum in Britain last year, compared with 5,000 in 1989, before Berlin Wall fell; there is backlog of more than 100,000 people waiting to hear whether they qualify for asylum; British government is facing version of same sentiment that caused European Union to ostracize Austria for including in its government party that inflamed anti-immigrant sentiment there; more sensationalist press in Britain is virulently anti-immigrant, and there is growing public perception that most asylum seekers are taking advantage of country's generosity and do not have legitimate asylum claims (M)
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LUCENT SELLS PART OF OFFICE-PHONE BUSINESS
Date: 04 April 2000
By Bloomberg News
Bloomberg News
Lucent Technologies Inc sells part of office-phone business it plans to spin off this year to NorthWestern Corp unit for $259 million in cash and securities; Expanets, networking arm of NorthWestern, acquires 1,800 employees (S)
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POWER-ONE MAKES AGREEMENT TO ACQUIRE POWEC
Date: 04 April 2000
By Bloomberg News
Bloomberg News
Power-One Inc agrees to buy Powec AS of Norway and unit of Crane Co for $93 million in cash and stock to enter market for telecommunications power supplies in Europe and Asia; Power-One will pay $70 million and 140,340 shares of its stock for Powec; will also assume $8 million of Powec debt; will also buy telecommunications product line from Crane for $14 million (S)
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LEGATO SYSTEMS SAYS IT MAY RESTATE ITS EARNINGS
Date: 04 April 2000
By Bloomberg News
Bloomberg News
Stock of Legato Systems Inc plunges after company says it might reduce fourth-quarter and 1999 revenue after audit of financial results; stock falls 55 percent, dropping $24.75 each, to $19.875, erasing more than $2 billion of market capitalization (S)
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CROSS TIMBERS OIL BUYS OUT LEHMAN NATURAL GAS STAKE
Date: 04 April 2000
By Bloomberg News
Bloomberg News
Cross Timbers Oil Co acquires remaining 50 percent stake in natural gas fields in Arkansas and Oklahoma from Lehman Brothers Holdings Inc for $111 million; two companies bought fields from Ocean Energy Inc in September for $231 million (S)
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Hamilton Rewarded With Contract
Date: 04 April 2000
By Bloomberg News
Bloomberg News
Miami agrees to give men's basketball coach Leonard Hamilton a new contract (S)
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Leap Wireless to Grow
Date: 04 April 2000
By Bloomberg News
Bloomberg News
Leap Wireless International, wireless phone service company spun off from Qualcomm Inc, agrees to buy licenses allowing it to provide wireless phone service in upstate New York (S)
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CMG TO BUY ADMIRAL
Date: 04 April 2000
By Bloomberg News
Bloomberg News
British-Dutch computer services and software company, CMG PLC, agrees to buy rival, Admiral PLC, for 1.4 billion pounds ($2.2 billion) in stock (S)
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N.B.A.: PHILADELPHIA
Date: 04 April 2000
By Bloomberg News
Bloomberg News
Philadelphia 76ers sign forward Antonio Lang for remainder of season (S)
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