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Newspaper
Register Herald
Location
Beckley, West Virginia, United States of America
Date
May 29, 1998
Page
12
New York stocks edged higher on Thursday led by the Dow which added 33.63 to 8970.20. The advance came after Wednesday's dramatic turnaround and a stronger overall market with more advances than declines. Investors weighed Asia crisis and U.S. resilience amid weak abroad.
A dense OCR extract shows fund names, prices, and changes across many securities and sectors dated 1998. It lists numerous fund and stock values, bid and net figures, and various company and index tickers, with scattered dates like 3/1/98 and 4/1/98. The text reads as a chaotic ledger of market quotes rather than a narrative.
MCI Communications agrees to sell its Internet backbone to Cable & Wireless PLC for 625 million cash pending regulatory approval of the MCI WorldCom merger. The deal includes 22 backbone sites, 1,300 ISP customers, and 50 MCI Internet staff transferring to Cable & Wireless while MCI retains core business and residential Internet customers. Regulators in the US and EU review the merger for potential anticompetitive effects in Internet transport markets.
MCI plans a residential universal service fee effective July to fund low income phone service and discounted Internet hookups for schools libraries and rural health care. AT T also to begin July fees, with 5 percent of interstate and international charges and 1.8 percent of instate charges. Sprint undecided on collection method. FCC filing set for June 1.
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