ITALY BLOCKS TAKEOVER OF TELEVISION NETWORK
Date: 18 January 2001
By Bloomberg News
Bloomberg News
Italian authorities block takeover of Telemontecarlo television network by Seat Pagine Gialle, country's largest Internet company; say deal would violate laws blocking telecommunications companies from directly or indirectly controlling commercial broadcasters (S)
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VERIZON REAPPLIES FOR LONG-DISTANCE IN MASSACHUSETTS
Date: 17 January 2001
By Bloomberg News
Bloomberg News
Verizon Communications resubmits application to sell long-distance phone service in Massachusetts after compiling new data for Federal Communications Commission (S)
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CHIEF OF TRADER.COM WILL DECLINE PAY FOR 2 YEARS
Date: 18 January 2001
By Bloomberg News
Bloomberg News
Trader.com, classified advertising publisher, says president and chief executive, John MacBain, will forgo all compensation, including stock options, in 2001 and 2002 as part of company's plan to reduce costs and preserve cash (S)
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2 GROCERY DISTRIBUTORS WILL COMPETE TO SUPPLY KMART
Date: 17 January 2001
By Bloomberg News
Bloomberg News
Fleming Companies and Supervalu Inc, grocery distributors, says Kmart will cancel their supply agreements on June 30 because it plans to consolidate to single supplier; Supervalu's contract is worth $2.3 billion annually; Fleming's says it had $1.3 billion in sales attributable to Kmart in 2000; both will bid to become sole supplier; group, including Yucaipa Investment and billionaire investor Ronald Burkle, acquires 6 percent stake in Kmart (S)
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NORTHWEST TO BUY NEW PLANES FROM AIRBUS AND BOEING
Date: 18 January 2001
By Bloomberg News
Bloomberg News
Northwest Airlines Corp decides to divide $5 billion order for new aircraft between Airbus Industrie and Boeing Co; to replace 44 aging DC-10's, Northwest will buy 24 wide-bodied A330-300 jets and 6 smaller A319's from Airbus, while Boeing will supply 20 single-aisle 757-300s and 2 of its 747-400 jumbo jet (S)
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GENERAL DATACOMM TO CUT 22% OF ITS WORK FORCE
Date: 18 January 2001
By Bloomberg News
Bloomberg News
General DataComm Industries will cut 200 jobs, about 22 percent of its work force, to reduce costs (S)
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EASTMAN KODAK 4TH-QUARTER PROFIT DOWN 50%
Date: 18 January 2001
By Bloomberg News
Bloomberg News
Eastman Kodak Co says fourth-quarter profit fell 50 percent; profit from operations dropped to $200 million compared with $403 million in year-earlier period; sales fell 6.3 percent, to $3.56 billion, from $3.8 billion (S)
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U.P.S. BUYS FIRST INTERNATIONAL BANCORP FOR $78 MILLION
Date: 17 January 2001
By Bloomberg News
Bloomberg News
United Parcel Service acquires First International Bancorp Inc for about $78 million in stock (S)
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LARGEST U.S. SUGAR PRODUCER FILES CHAPTER 11
Date: 17 January 2001
By Bloomberg News
Bloomberg News
Imperial Sugar Co, largest sugar producer in US, files for Chapter 11 bankruptcy court protection from creditors, listing $1.09 billion in assets and $775 million in debt; company cites glut of refined sugar, low prices and high energy costs as causes of widening losses in domestic sugar industry (S)
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CASINO COMPANY SUES DEVELOPER OVER LAS VEGAS HILTON
Date: 17 January 2001
By Bloomberg News
Bloomberg News
Park Place Entertainment Corp says Ed Roski, real estate developer, violated his agreement to buy Las Vegas Hilton for $365 million when he failed to appear at scheduled closing; says it will stop trying to sell property and will pursue legal remedies (S)
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