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Bluefield Daily Telegraph in Bluefield, West Virginia

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This newspaper page contains 3 articles. Subscribers can read the full text of each article.

Newspaper

Bluefield Daily Telegraph

Location

Bluefield, West Virginia, United States of America

Date

Mar 23, 2001

Page

6

Dow Ends Bear Market Slide With Late Rally

Despondent investors intensified a selloff in blue chips driving the Dow into bear market territory for much of the session. A last hour rally trimmed losses to 97.52, closing 9,389.48 as Nasdaq and S&P fluctuated with grim long term declines. Procter & Gamble cut 0.45 to 62.75 after announcing 9,600 job cuts and General Motors idled plants to curb inventories.

Dow Industrials Dow Transportation Dow Utilities Nyse Composite S&p MidCap Russell 2000 Wilshire 5000 Nyse Amex Dillards MS Yhoon Stylecick SCI Sys Semihtrn Rambuss Comdisco Hisheart Cygnus Inetinfra Itrnetinitv Celestic G BioLase Infonet Nhitere ExcelLeg KentEl Metromda NtSemi BrukDaltn APW Ltd N Mleuront Delcathun Waters S Globlt G Dynacren Enterem Spinakrind Freesrv Aventis Wt Hemispx InfVistan LoralSp Citigros DJIA Lucent Nabors DellCptr ApplBio SP Fel Amgen Cornings SP Tech WorldCom AmExps SP Mid JDS JaprNtw New York Dow Hugh Johnson First Albany Corp Standard & Poor Alfred E. Goldman A.G. Edwards & Sons St. Louis Wall Street Gary Kaltbaum Market Techni Cian First Union Securities Japan U.S Federal Reserve Fed Johnson First Albany Procter & Gamble General Motors

First Union settles suits for twenty six million dollars

Two class-action suits accusing First Union Corp of mismanaging employees retirement funds are tentatively settled for 26 million. U S District Judge Richard Williams gave preliminary approval and set a final hearing for June 13. More than 150 000 employees eligible to participate. First Union bought Signet in 1997. The suits claimed self dealing and use of 401 k investments to benefit the bank. The bank says the settlement is to end costly litigation and insurance will cover the costs.

Richmond, Va First Union Corp U.S Richard Williams Charlotte, N.C First Union Signet First Ginny Mackin Mackin

Procter & Gamble to cut 9600 more jobs worldwide

Cincinnati headquarters P&G will trim 9600 additional jobs over two years, bringing total planned cuts to 17400. About 2700 cuts, 1900 new, to occur in Cincinnati with a mix of voluntary and involuntary layoffs. Most reductions targeted at corporate units and manufacturing, starting immediately in the United States.

Cincinnati Procter & Gamble Co United States P&g A.G. Lafley Tide Crest Folgers Pampers Olay

Also Mentioned on This Page

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