Democracy Arrives in Corporate News Releases
Date: 09 October 2000
By Alex Berenson
Alex Berenson
PR Newswire and Businesswire, premier corporate news distributors, are now making information simultaneously available to public and news media, which have had a 15-minute lead over the public until now; gap gave professional traders who spend more than $1,000 each month for access to Bloomberg and other financial wire services a valuable edge over individual investors, because wires carried headlines on the releases before the full releases actually appeared; shift further erodes the informational advantage professional investors once enjoyed over individuals (M)
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A Onetime Milosevic Mouthpiece Remakes Itself
Date: 10 October 2000
By Roger Cohen
Roger Cohen
Politika, Belgrade daily newspaper that was once a party organ of Slobodan Milosevic, is adjusting to an abruptly changed political landscape in Serbia; Dragan Hadzi Antic, newspaper's editor, appears to be in hiding; the new Politika promises objectivity, but whether its journalists, who long churned out Milosevic's propaganda, can really reinvent themselves overnight as spokesmen of a free press remains to be seen; photo (M)
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MOTOROLA IS EXPECTED TO REPORT HIGHER EARNINGS
Date: 10 October 2000
By Bloomberg News
Bloomberg News
Motorola says it will report higher third-quarter earnings (S)
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MCSI SAYS ANNOUNCES ACQUISITION OF INTELLISYS GROUP
Date: 10 October 2000
By Bloomberg News
Bloomberg News
MCSi, which sells computer and office-automation supplies, will buy Intellisys Group to gain access to audio and visual products (S)
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SMITHKLINE TO BUY BLOCK DRUG FOR $1.2 BILLION
Date: 10 October 2000
By Bloomberg News
Bloomberg News
SmithKline Beecham PLC, which plans to merge with Glaxo Wellcome PLC, will buy Block Drug Co for $1.2 billion in cash to gain company's Polident denture cleaner and Sensodyne toothpaste (S)
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U.S. CONCRETE PURCHASES HANSON CONCRETE PRODUCTS
Date: 10 October 2000
By Bloomberg News
Bloomberg News
US Concrete acquires Hanson Concrete Products and says second-half sales will be below analysts' expectations (S)
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SAFECO REPORTS EARNINGS FAR BELOW FORECASTS
Date: 10 October 2000
By Bloomberg News
Bloomberg News
Safeco Corp says third-quarter profit is as much as 80 percent below analysts' estimates as higher claims offset rising property-casualty insurance rates (S)
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CONNETICS SHARES DECLINE SHARPLY AS DRUG FAILS TEST
Date: 10 October 2000
By Bloomberg News
Bloomberg News
Shares of Connetics Corp fall as much as 81 percent after study finds no benefit for relaxin, drug company is developing to treat disfiguring and potentially fatal skin disease called scleroderma; Connectics says it will not seek market approval (S)
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CONCORD EFS TO BUY STAR SYSTEMS IN $850 MILLION DEAL
Date: 10 October 2000
By Bloomberg News
Bloomberg News
Concord EFS, which processes credit-card transactions, acquires Star Systems for about $850 million in stock to expand its electronic payment network into western and southeastern states (S)
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SINOPEC STARTS HONG KONG OFFER
Date: 10 October 2000
By Bloomberg News
Bloomberg News
China Petroleum and Chemical, or Sinopec, begins Hong Kong portion of its $3.85 billion global share sale, seeking to tempt investors with its prospect of expanding its retail gasoline sales; refiner is offering about $192 million worth of shares to the public (S)
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