General Dynamics Makes $1.4 Billion Bid for Newport News
Date: 19 February 1999
By Leslie Wayne
Leslie Wayne
General Dynamics Corp, nation's largest military shipbuilder, stuns defense industry by making unsolicited $1.4 billion bid for rival Newport News Shipbuilding Inc, in face of changing Government policy that has discouraged such consolidations; deal is surprising for two reasons: Government, in reversal of policy, has been halting military industry mergers, and this deal would create only one supplier of nuclear-powered submarines and put four of nation's six defense shipyards in hands of one company; merger throws in question Newport News's $470 million friendly takeover of Avondale Industries, nation's number 4 military shipbuilder; that merger was announced last month and has not yet closed; neither Defense Department nor Justice Department comment on offer (M)
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Judge in Louima Case Refuses to Move Trial
Date: 20 February 1999
By Joseph P. Fried
Joseph Fried
Federal District Court Judge Eugene H Nickerson rejects request from defense lawyers for Abner Louima that trial be moved outside New York City region; change was requested because of intensive news coverage of alleged brutalizing of the Haitian immigrant by four police officers (M)
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MCDONALD'S IS SLOWING ITS EXPANSION IN RUSSIA
Date: 20 February 1999
By Bloomberg News
Bloomberg News
McDonald's Corp says it slows its expansion in Russia in face of plunging ruble; says it might open another five restaurants there this year (S)
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GOLD FIELDS TO MERGE WITH DRIEFONTEIN CONSOLIDATED
Date: 19 February 1999
By Bloomberg News
Bloomberg News
Gold Fields Mineral Services Ltd will gain control of some of South Africa's best gold mines by merging with Driefontein Consolidated, and buying stake held by Anglogold Ltd (S)
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FIRST UNION TO REDUCE EXPENSES BY $400 MILLION
Date: 20 February 1999
By Bloomberg News
Bloomberg News
First Union Corp plans to cut expenses by $400 million this year, partly by cutting up to 7,200, or 10 percent, of its jobs (S)
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WESTERN RESOURCES TO RECONSIDER KANSAS UTILITY BID
Date: 20 February 1999
By Bloomberg News
Bloomberg News
Western Resources Inc says it will call off $3 billion buyout of Kansas City Power & Light Co if Kansas regulators approve staff recommendation that it cut rates by $24 million a year (S)
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DUKE OFFERING $2.1 BILLION FOR CHILEAN UTILITY
Date: 19 February 1999
By Bloomberg News
Bloomberg News
Duke Energy Corp offers more than $2.1 billion for 51 percent stake in Chilean electric utility Empresa Nacional de Electricidad SA (S)
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SALE OF A BOTTLED WATER CALLED DASANI IS SET
Date: 20 February 1999
By Bloomberg News
Bloomberg News
Coca-Cola Co says it will begin selling bottled water called Dasani in United States and Canada this summer (S)9
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PROVIDIAN ACQUIRES GETSMART.COM FOR $33 MILLION CASH
Date: 19 February 1999
By Bloomberg News
Bloomberg News
Providian Financial Corp, nation's biggest issuer of credit cards backed by deposits, acquires Getsmart.com, which operates Internet site where consumers can apply for loans, for $33 million in cash (S)
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AMERICA WEST HOLDINGS' SHARES CLIMB BY 13%
Date: 20 February 1999
By Bloomberg News
Bloomberg News
America West Holdings Corp shares rise 13 percent amid specuation that it will attract competing bids from Continenatl Airlines Inc and UAL Corp (S)
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