WAC news - PRESS DIGEST - New York Times business - Jan 19
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NEW YORK, Jan 19 (Reuters) - The New York Times reported
the following stories on its business page on Friday:
*A slowing economy catches the average household owning
less of a stake in its home than in any economic slowdown since
the 1930s. If a recession develops, the blow to spending could
turn a mild recession into a prolonged one.
*Northern and Central California endured a second, more
extensive day of rotating blackouts, but officials said large
purchases of power by the state helped avert additional
cut-offs.
*Two titans of fashion are about to square off in court.
Barring a settlement, the trial of Calvin Klein versus Linda
Wachner, chief executive of Warnaco Group , will begin
on Monday.
*Most people in the developing world live in a rural sprawl
too thinly spread and too poor to justify expensive new
networks in spite of a so-called third generation of cellular
telephone technology.
*Capitalising on strong sales growth for its Windows 2000
desktop operating system at the end of the year, Microsoft
reported quarterly earnings that met Wall Street's
scaled-back expectations.
*With the Clinton administration down to its final hours,
an unanswered question is whether Michael R. Milken, the
one-time king of junk bonds, will get the pardon he has
requested, and with it a claim to vindication.
*Chris Jones, the youngest chief executive in the history
of J. Walter Thompson in New York, resigned unexpectedly for
health reasons.
REUTERS
Rtr 01:02 01-19-01 |
