Treasuries Rally Pushes Short Rates Higher at Auction
The Treasury sold 7.50 billion in three month bills at 4.535 percent and 750 billion in six month bills at 4.520 percent, both up from prior weeks. Three month rate highest since July 12 at 4.60 percent. six month at 4.54 percent. Inflation-adjusted yields noted as 4.663 percent and 4.703 percent respectively.
MENTIONED IN THIS ARTICLE
Washington
Treasury
Treasury Department
Takeover bids loom amid airline and media deals in 1990s reports
Across three stories a prominent Japanese investor announces plans for a hostile bid to control 30 percent of a debt laden national airline, while NTL Inc extends its push to dominate Britain's cable market by buying CWC residential operations, and Microsoft clashes with AOL over instant messaging amid a broader online battle involving Yahoo.
MENTIONED IN THIS ARTICLE
Tokyo
Japan
Etaro Itoyama
Ttuyama
Associated Press
Springfield
Microsoft
America Online
Netscape
Yahoo
AOL
Existing home sales hit record in June
Existing home sales jumped 10.6 percent in June to an annual rate of 5.53 million, the highest on record, as buyers raced to lock in deals before further mortgage-rate increases. Strong economy, low unemployment, and more financing options supported demand amid rising rates.
MENTIONED IN THIS ARTICLE
Washington
National Association of Realtors
Association
Lynn Reaser
Bank of America
Sharon Mullett
Freddie Mac
RCA
Nipper
Chipper
Airlines and rivals team up on Y2K fixes
Delta Air Lines and competitors unite to test and share Y2K solutions across airlines banks phone firms and utilities. They sponsor joint tests and round tables to ensure reservation systems banking networks and calling services remain reliable as the year 2000 arrives, stressing industry wide cooperation over competition.
MENTIONED IN THIS ARTICLE
Atlanta
Delta Air Lines
Belsouth
BellSouth
At&t
Clinton
Entercom to buy 43 radio stations for 821.5 million
Entercom Communications Corp of Bala Cynwyd Pa agreed to purchase 43 radio stations for 821.5 million in cash from Sinclair Broadcast Group. The deal, Sinclair stations would push Entercom into eight new markets and bolster presence in top markets, pending FCC scrutiny and board approvals. Steve Fisher said the move fuels growth and adds about 120 million in annual revenue.
MENTIONED IN THIS ARTICLE
Entercom Communications Corp
Bala Cynwyd
Sinclair Broadcast Group
Baltimore
Entercom
Federal Communications Commission
Kansas City
Norfolk, Va
Scranton, Pa
Wilkes-Barre, Pa
Sinclair
United States
Fisher
Sinclair Radio
Stocks Extend Slide Amid Rate Hike Fears In New York
U S stocks fell as higher interest-rate fears persisted led by tech shares. Dow dropped 47.80 to 10863.16 S&P 500 slipped 9.18 to 1347.76 Nasdaq down 73.21 to 2619.19. bond yields rose with 30 year at 6.03%. Investors await Greenspan testimony and upcoming wage and GDP data.
MENTIONED IN THIS ARTICLE
New York
Dow
Standard & Poor
Federal Reserve
Fed
Alan Greenspan
Senate
John H. Shaughnessy
Advest Inc
Greenspan
Tom Galvin
Donaldson, Lufkin & Jenrette Securities
Treasury
Microsoft
Hewlett Packard
America Online
Stephen Case
AOL
New York Stock Exchange
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Cable Company
London
Cable & Wireless Communications PLC
NTL Inc
Britain
Indus
NTL
Cable & Wireless Communications
CWC
Wile
Dey
Business Wire
Walter Taylor
Atlanta Based
Delta
John Koskinen
Council On
Dave Johnson
Bedminster
N.J
Clay Owen
Knight Ridder Newspapers
Steve Fisher
Marriott Services Corp
Italy
Autogrill Spa
American Express
First Call Corp
NYSE
Wall Street
Germany
France
United Way