July 20, 2000 |
Europe is the world's hot spot for mergers and acquisitions, led by Britain, which unseated the United States for first place in buying out foreign companies last year, an economic policy group reports. Worldwide, the number of cross-border mergers jumped 50% to just more than 5,000 in 1999, with nearly three-quarters of the deals in Europe, according to the Paris-based Organization for Economic Cooperation and Development.
July 5, 2000 |
Don't look now, but over the past six weeks, we've quietly entered a new era for U.S. foreign policy. A decade after the end of the Cold War, we now have the Corporate Peace. Since mid-May, the American business community has won a breathtaking series of victories in Washington, stripping away the sanctions that have somewhat limited its overseas operations.
July 5, 2000 |
Merger activity among U.S. companies continued to slow in the second quarter, as rising interest rates and falling stock prices hampered potential acquirors. The number of announced deals totaled 2,210 in the quarter, down 22% from the second quarter of 1999, according to figures from Thomson Financial Securities Data. The dollar volume of deals announced fell to $323 billion from $477 billion a year earlier, a 32% decline.
July 4, 2000 |
A U.S. law enforcement official confirmed reports that the U.S. Justice Department is investigating whether a U.S. financial consultant improperly funneled tens of millions of dollars from major oil companies to Kazakh President Nursultan A. Nazarbayev and other leaders of the oil-rich former Soviet republic. Exxon Mobil Corp.
July 3, 2000 |
The FBI is investigating whether a U.S. businessman illegally funneled $35 million from three oil companies to high-ranking Kazakhstan officials, including President Nursultan Nazarbayev, Newsweek reported Sunday. The investigation comes as the United States, Russia and Iran vie to win Kazakh approval for competing oil-export routes for the former Soviet republic's potentially vast oil reserves.
June 15, 2000 |
Amid the din of million-dollar parties and free employee BMWs that have come to define the excesses of the "dot-com" era, the quiet voice of frugality is being heard. Fiscal reason has been an oxymoron in high-tech centers around the country since the dawning of the "new economy." With billions of dollars being thrown around, spending big was an easy way to get attention and seem successful.
June 8, 2000 |
Judge Thomas Penfield Jackson's ruling that Microsoft Corp. must be split up is not only good for the future of technology and the U.S. economy. It could be the best medicine for Microsoft too. Why? Because splitting Microsoft could energize parts of today's company and let talented people range widely to develop applications for office and home software rather than constantly trying to control the marketplace through Microsoft's Windows operating system.
May 29, 2000 |
Some of the nation's biggest companies, with their outsize appetites for political influence, are helping foot the bill for the Democratic National Convention in Los Angeles. The dollars--including a substantial amount from corporations dealing with the federal government--are crucial for the financing of the most extravagant act of political theater here since John F. Kennedy accepted the Democratic Party nomination for president in 1960.
May 26, 2000 |
The black Aztec eagle, symbol of the United Farm Workers of America, is quietly extending its wings beyond the fields of rural California to touch the skylines of America's cities. With little fanfare, the labor organization and its affiliates are looking to expand their growing radio network in cities such as Las Vegas, where gambling, not agriculture, is the cash crop. They are acquiring and rehabilitating low-income urban housing in California, New Mexico, Arizona and Texas.
May 23, 2000 |
The fate of the Clinton administration's plan to force a 10% reduction in air pollution nationwide will be decided next year by the Supreme Court. The anti-smog rules, if put into effect, would make breathing easier for millions and spare thousands from asthma and respiratory ailments, the administration says. But the U.S. Chamber of Commerce says it would cost American business at least $46 billion a year to comply with the standards. Last year, a U.S.