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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Jul 27, 2000
Page
15
Dresdner Bank and Commerzbank ended two months of talks to form Germany’s No. 2 bank amid disputes over control. Analysts warn the pause could leave both lenders behind in the push to expand and compete globally in financial services.
Kmart named Andy Giancamilli president and chief operating officer as part of a management shakeup. CEO Charles Conaway, who took the helm May 31, also announced plans to upgrade the Lawrence distribution center with a $5 million investment and noted a Kmart store at 3106 Iowa. Separately, Ceres Group said it completed a $67.5 million acquisition of Pyramid Life Insurance from Unity Insurance, with accretive impact expected in 2001 and no disruption to Pyramid policyholders.
Ameriquest Mortgage Co and ACORN unveiled a three year pilot program to provide 360 million in home loans for thousands of low income families across 10 cities. Officials described the unusual alliance as a step to expand affordable housing opportunities.
Microsoft asks the Supreme Court to let the federal appeals court handle the antitrust case, arguing the long-term effects on consumers and the economy matter more than speed. The company disputes Judge Jackson’s ruling on illegal conduct and his interactions with reporters, urging review by the appeals court or direct Supreme Court consideration of eight questions including Windows 95 and 98 tie-in claims.
Stocks fell after earnings reports with BMC Software and Vignette among decliners. Amazon posted larger quarterly losses while overall semiconductor and software shares dropped. Analysts say the drop reflects a reversal from a prior rally and a broader tech sector weakness, despite some firms beating expectations.
Harry Potter and the Goblet of Fire dominates shelves and online orders as U.S. and U.K. publishers order fresh print runs. Bloomsbury in Britain reports 13 reprints and 2.3 million copies delivered, while Scholastic in the United States adds 3 million more after distributing 3.8 million from the initial run. Amazon sold 457,000 copies by July 25, with 350,000 preordered. The series has 35 million copies sold worldwide and sits atop the New York Times Children’s Hardcover Best Sellers list.
The report lists local grain prices from Farmers Cooperative Assn and Midland Elevator, plus North Elevator quotes for wheat soybeans milo and corn. USDA loan deficiency payments are shown for Wheat Corn Oats Soybeans Milo. Dodge City livestock market results report quiet trade with 88,200 head week to date and bids versus asking prices. Nonferrous metal prices are provided for aluminum copper lead zinc and precious metals with daily quotes from London and New York markets.
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