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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
May 10, 2000
Page
5
Market quotes provided by Ron Campbell Investment Planning and Raymond James Financial Services present closing prices and financial data. The service, affiliated with NASD and SIPC members, lists figures for varied securities.
Edward G. Boehne, head of the Federal Reserve Bank of Philadelphia, told the Pennsylvania Bankers Association that public trust is essential as consolidation grows and the Internet expands. He noted a 30 percent drop in U.S. banks over the past decade, urged continued small and niche players, and said online banking will rise from 4 million to 7 million users by 2003, mainly to retain customers. Boehne, president since 1968, plans to retire this year.
New York AP stocks slid for a second day as summer doldrums and nerves about the Fed meeting curbed optimism. Tech shares led declines with Nasdaq down 84.65 to 3584.73 and Dow off 66.88 to 10536.75. Hewlett-Packard, Microsoft, Intel and Applied Materials fell while 3Com spinoff of Palm Inc. advanced, and Wal-Mart beat earnings estimates.
Microsoft will respond to a Justice Department and 17 states plan to split the company. The firm calls the proposal radical and extreme and seeks an extension to prepare its defense ahead of a related two week hearing. It may address proposed remedies as well.
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