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Date: 07 April 2001
By Felicity Barringer
Felicity Barringer
Jay T Harris, who stunned newspaper industry by resigning as publisher of San Jose Mercury News, tells audience of newspaper editors to resist tyranny of markets and cuts that harm their organizations; photo; Harris told Knight Ridder he would not accept rigid budget targets he believed would require layoffs (S)
Date: 08 April 2001
By Jessica Yellin
Jessica Yellin
THE Florida recount is back in the news. And I may be the only person in the nation who is thrilled.
Date: 07 April 2001
Editorial says that while it is not easy to keep track of cast of characters wrestling for financial control of Russian independent television, outcome is important to sustaining democracy
Date: 07 April 2001
By Bloomberg News
Bloomberg News
The online music provider MP3.com must pay about $300,000 to the independent music label Tee Vee Toons for copyright infringement, a federal jury ruled yesterday. Tee Vee Toons, the largest independent label in the nation, asserted that MP3 infringed on its rights to 145 songs and asked for $8.5 million in damages. Tee Vee Toons, which is based in New York, is one of more than a dozen labels that have sued MP3.com for distributing their songs on the Internet. MP3.com, which is based in San Diego, stored digitized copies of Tee Vee Toons compact discs in its computers. It provided access to music from that database, allowing its subscribers to listen to CD's from their personal collections on any computer if they could show they already owned the disc.
Date: 07 April 2001
By Bloomberg News
Bloomberg News
The AMR Corporation's planned $4.2 billion purchase of Trans World Airlines Inc. received Transportation Department approval yesterday, leaving a bankruptcy court to give final clearance. The Justice Department approved on March 16 the purchase of T.W.A. by AMR, the parent of American Airlines, which is the second-largest carrier in the nation. A bankruptcy court in Delaware is expected to make a decision as soon as Monday. American's acquisition of T.W.A.'s domestic and international routes would let American ''expand its operations and improve its ability to compete with other airlines and alliances in international aviation markets,'' the Transportation Department said.
Date: 07 April 2001
By Bloomberg News
Bloomberg News
Temple-Inland Inc., a maker of lumber and boxes, agreed to buy 10 box plants from the Chesapeake Corporation, based in Richmond, Va., for $120 million to add packaging sales in the Northeast. The plants are in Colorado, Indiana, Kentucky, New York, Ohio, North Carolina and Pennsylvania, said Donna Reynolds, a spokeswoman for Temple-Inland, which is based in Austin, Tex. The Chesapeake plants can make 100,000 tons of boxes a year, which could increase Temple output by about 5 percent. Chesapeake, which has struggled to meet profit forecasts, said in January that it planned to sell its box plants and other businesses to focus on making packaging for consumer products.
Date: 07 April 2001
By Bloomberg News
Bloomberg News
Sodexho Alliance of France, a leading catering company, agreed to buy Sogeres of France and Wood Dining Services of America for a combined 526 million euros ($475 million). The Albert Abela Corporation of Saudi Arabia is selling Wood Dining of Allentown, Pa., and a 60 percent stake in Sogeres. Sodexho is also buying the 40 percent of Sogeres owned by BNP Paribas Capital.
Date: 07 April 2001
By Bloomberg News
Bloomberg News
South Korea's central bank held interest rates steady as accelerating inflation, stoked by a weakening currency, prevented a rate cut. The Bank of Korea left the benchmark call rate, the interest it charges on overnight loans to commercial banks, at 5 percent at its monthly policy meeting. The bank has left rates unchanged for two months after cutting them a quarter-point in February, when it cited a slowing economy.
Date: 07 April 2001
By Bloomberg News
Bloomberg News
A judge approved a $420 million settlement today that WorldCom Inc. had offered to shareholders of Digex Inc., who sued over WorldCom's $4.1 billion purchase of Digex's parent, Intermedia Communications Inc. The judge, William Chandler III of Delaware Chancery Court, concluded that WorldCom's offer, including giving stock worth about $165 million to Digex investors and $15 million to the company, was a ''fair and reasonable'' resolution of the suits.
Date: 07 April 2001
By Bloomberg News
Bloomberg News
Two brokers from Tennessee, accused of making inside trades in securities of Mid Ocean Ltd. ahead of its acquisition by the former Exel Ltd., agreed to pay $450,000 to settle the complaint, the Securities and Exchange Commission said today. The S.E.C. said that the brokers, Cristan K. Blackman and Charles R. Roberts, both of whom formerly worked at the Nashville office of Morgan Keegan & Company, bought Mid Ocean shares three days before the March 16, 1998, announcement of the deal.