Profit Falls 16% At News Corp.
Date: 29 October 1999
By Bloomberg News
Bloomberg News
News Corp says its first-quarter profit fell 16 percent; profit fell to $165 million from $196 million in year earlier period; revenue fell 1.1 percent, to $3.16 billion from $3.19 billion (S)
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Rowland Firmly Defends Conduct in Fund-Raising
Date: 28 October 1999
By Mike Allen
Mike Allen
Connecticut Gov John G Rowland, beset by mounting allegations that his administration mixed fund-raising with state business before last year's election, gives emotional defense of his conduct, challenging journalists to find proof of corruption and report it to Federal authorities (M)
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JUSTICE DEPARTMENT CHALLENGES VIASOFT DEAL
Date: 29 October 1999
By Bloomberg News
Bloomberg News
Justice Department says it will challenge Compuware Corp's proposed $168 million purchase of Year 2000 software maker Viasoft Inc, arguing transaction would mean higher prices for mainframe software; department says two companies are head-to-head competitors for mainframe testing (S)
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PRICEWATERHOUSECOOPERS TO TRIM 1,000 POSITIONS
Date: 29 October 1999
By Bloomberg News
Bloomberg News
Pricewaterhous eCoopers is cutting 1,000 support jobs in US to reduce costs as it plans to invest billions of dollars to expand services it offers; firm will dismiss 700 to 750 employees in US, and 250 jobs will be eliminated through attrition and hiring freeze already in place; cuts will save about $91 million (S)
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STORAGETEK WILL CUT AS MANY AS 1,750 JOBS
Date: 29 October 1999
By Bloomberg News
Bloomberg News
Storage Technology Corp, which is exploring possible sale, says it will cut as many as 1,750 jobs, or 20 percent, of its work force, after its third-quarter profit fell 91 percent; company, known as Storagetek, expects $150 million in annual savings from cuts; warns that it will miss earnings forecasts as customers delay purchases because of Year 2000 issues (S)
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EXODUS COMMUNICATIONS AGREES TO BUY SERVICE METRICS
Date: 28 October 1999
By Bloomberg News
Bloomberg News
Exodus Communications Inc acquires Service Metrics Inc for $280 million in stock (S)
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CHURCH & DWIGHT TO BUY HOUSEHOLD-CLEANER BRANDS
Date: 29 October 1999
By Bloomberg News
Bloomberg News
Church & Dwight Co agrees to buy two bathroom-cleaner brands for $55 million to enter that market; will purchase Clean Shower brand from Clean Shower LP and Scrub Free brand from Benckiser Consumer Products (S)
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BET HOLDINGS PLANS $1 BILLION INVESTMENT IN RADIO
Date: 28 October 1999
By Bloomberg News
Bloomberg News
BET Holdings Inc chairman-chief executive Robert L Johnson says company will spend $1 billion to enter radio business; confirms report that BET is looking to buy stations from Clear Channel Communications Inc, which intends to sell as many as 125 of them as part of its proposed purchase of AMFM Inc; says BET aims to acquire 20 to 30 stations (S)
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ARCH COAL MAY CLOSE TWO MINES AND ELIMINATE JOBS
Date: 29 October 1999
By Bloomberg News
Bloomberg News
Arch Coal Inc says it might cut 622 jobs and close two southern Virginia mines after US District Court ruling blocked company from expanding at two sites (S)
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NORSK PLANS CUTS
Date: 29 October 1999
By Bloomberg News
Bloomberg News
Norway's Norsk Hydro plans to sell assets worth 12.6 billion kroner ($1.6 billion) and reduce its work force by 6 percent, about 2,300 jobs, in effort to reverse four-year drop in profit (S)
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