OPEC ministers poised to cut oil production
OPEC ministers plan a cut of at least 1.5 million barrels a day at the Vienna meeting to curb supply amid weak demand signals and a fragile U S economy. Ali Naimi, Saudi Arabia’s oil minister, said the move aims to stabilize markets and reduce output by about five percent.
MENTIONED IN THIS ARTICLE
OPEC
U.S
Vienna
Austria
United States
European Union
Ali Naimi
Saudi Arabia
Retail sales slump expected for first half of 2001
Retailers forecast a weak start to 2001 with sales slide through the first six months after what was described as a poor holiday season. The mood was subdued at the National Retail Federation convention in New York as executives, including NRF President Tracy Mullin, expressed hope that a Fed rate cut would eventually spur consumer spending.
MENTIONED IN THIS ARTICLE
National Retail Federation
New York
Fed
Tracy Mullin
3Com to trim workforce in $200 million savings plan
3Com Corp plans job cuts to reduce expenses by at least 200 million dollars annually amid a telecom slowdown. With 11,500 employees worldwide the firm will decide by end of February how many positions will be eliminated, the spokesman said. The decision was not taken lightly as the company seeks savings locations.
MENTIONED IN THIS ARTICLE
3Com Corp
3Com
Intel to buy Xircom for 748 million dollars
Intel Corp will acquire Xircom Inc a maker of mobile computing gear for about 748 million dollars. The deal expected to close by end of March would add network adapters modems and connecting cards to Intel’s server and desktop businesses. Xircom based in Thousand Oaks California has 1900 employees and reported 492 million dollars revenue last year becoming a wholly owned Intel subsidiary.
MENTIONED IN THIS ARTICLE
Intel Corp
Xircom Inc
Intel
Xircom
Thousand Oaks
Calif
Markets trade resumes after MLK Jr. Day break
U S financial markets were scheduled to reopen today after a one day closure for Martin Luther King Jr. day observance. The move ends a market shutdown that paused trading in equities and bonds, with traders watching economic data for signs of direction.
MENTIONED IN THIS ARTICLE
U.S
Martin Luther King Jr
Nestle to Acquire Purina in $10.1 Billion Deal
Nestle SA reportedly agreed to buy Ralston Purina for 10.1 billion dollars at 33.50 per share. If approved by both boards, the move would expand Nestle’s U S pet food footprint and raise antitrust review questions given shared market shares in dog and cat foods.
MENTIONED IN THIS ARTICLE
New York
Ralston Purina Co
Nestle SA
Friskies
Alpo Pet Foods
Wall Street Journal
Nestle
Ralston
New York Stock Exchange
Ralston Purina
Associated Press
Jaine Mehring
Salomon Smith Barney
United States
Journal
Ing
Mehring
U.S
At The Oaks meeting center opens in former Oak Ridge School
Lawrence entrepreneurs transform the 1924 E. 1600 Road school into At The Oaks a six acre venue three miles from I 70. The plan adds teleconferencing and room for 60 seated guests with future expansion to 110. Rentals run 150 to 450 with catering. Local firms including Pennington & Co have used the space for retreats.
MENTIONED IN THIS ARTICLE
Jan Larkins
Isla Richards
E. 1600 Road
the Oaks
Lawrence
Oak Ridge
Larkins
Pennington & Co
Meg Godderz
Pennington
At the Oaks
Richards
George Anne Fay
Arnold Sanow
Ian
Oak Ridge School
Aff writer Joy Ludwig contact line
Joy Ludwig, a attributed author, can be reached at 832 7144 for inquiries or comments related to the publication or article.
MENTIONED IN THIS ARTICLE
Aff
Joy Ludwig
Motorola to Stop Cell Phone Production at Harvard Plant
Motorola Inc will end cellular phone manufacturing at its Harvard Illinois factory, cutting about 2500 plant jobs, while 2500 workers remain. Production ends by June 30 as the company refocuses on orders and sourcing. The move follows broader restructuring and prior contractor production shifts affecting Iowa, Florida and Ireland.
MENTIONED IN THIS ARTICLE
Chicago
Motorola Inc
Harvard
Ill
Motorola
Iowa
Florida
Ireland
Market notes show quiet Monday amid MLK observance
Local markets closed for Martin Luther King Jr. day with Dodge City and St. Joseph quotes. Trade was light. no cattle sales confirmed though 18 500 head were planned for the week from prior contracts. Prices last set near 78.00 to 79.50 for cattle and hog values around 35.00 to 37.00 for lean hogs with scarce supply on heifers and sows.
MENTIONED IN THIS ARTICLE
Dodge City Livestock Dopce City
St. Joseph
St. Joseph, Mo
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Nestle.com
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Cook
Fulcrum Associates Inc
Douglas County
Richard Gwin
Journal-World Photo
Nokia
Christopher Galvin
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