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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jan 24, 1995
Page
10
Cadbury Schweppes confirms plans to seek $800 million in funding to acquire Dr Pepper Seven Up as it aims for a top three slot in the U.S. soft drinks market behind Coca Cola and Pepsi. Dr Pepper declined immediate comment as talks proceed.
International Business Machines earned 2.88 billion dollars in 1994, reversing an 8.1 billion loss in 1993 and reporting 64.1 billion dollars in revenue, up two percent from 1993. In Q4 IBM earned 1.2 billion dollars with 19.9 billion in quarterly revenue, beating forecasts but shares slipped on pre-earnings optimism. GE Capital agreed to acquire Credit de l Est of Strasbourg for an undisclosed price, with about 1 billion in assets. Raytheon won 123.5 million dollars in Patriot missile contracts from the U S Army and allied governments. the firm also owns Cedarapids and Amana Refrigeration.
Hackers threaten millions of Internet connected computers using spoofing to masquerade as trusted sources. CERT warns even protected systems can be vulnerable, with intruders stealing data or seizing control through hijacking tools. The New York Times notes the breach began on Christmas into Tsutomu Shimomura’s San Diego Supercomputer Center computer.
Glaxo PLC makes an unsolicited cash and stock offer of 14.24 billion dollars for Wellcome PLC, signaling a major merger in the drug industry. The deal would form a firm with over 12 billion dollars in annual revenue and a portfolio including ulcer medication and AZT.
Iowa Court of Appeals upheld $5,000 damages for neighbors James and Phyllis Sayre and Don Gauger and Charlotte Cleavanger over odors from an uncovered waste tank at an Iowa State University hog lot. The ruling confirms damages cover odor periods from October 1990 to August 23, 1991 with appeals costs awarded to the defendants.
Justice Donald Alexander found Maine's 6 percent snack tax applied to Girl Scout cookie sales to be arbitrary and capricious. The ruling notes prior exemption for door to door sales and questions why non profits were penalized for well planned fundraisers. Assistant AG Dennis Dorion will decide on appeal after conference with Tax Assessor's Office.
Stocks closed mostly down on Monday amid global weakness and rate worries. The Dow fell 2.02 to 3867.41 as volume totaled 325.81 million shares. Eastern Iowa stocks showed 15 gains, 19 losses, nine unchanged amid Tokyo's Nikkei down 5.6 percent after Kobe quake damage forecasts.
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