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To: ms.smartest.person who wrote (517)	3/8/2001 10:56:15 PM
From: ms.smartest.person	Read Replies (1) \| Respond to of 2248

AWSJ: What's News, Business & Finance For Friday JAPAN'S FINANCE MINISTER surprised investors with a warning that the government's finances are ""near a state of collapse."" Miyazawa's comments led to heavy selling of the yen in Tokyo, but the currency recovered slightly midmorning in New York. Meanwhile, analysts expect Monday's GDP report to show a contraction in output for a second straight quarter, with nominal GDP growth weaker than real GDP growth. --- Yahoo shares plunged 21% after the U.S. Internet giant warned that its first-quarter results will miss forecasts and said CEO Timothy Koogle plans to step down from that position. He will remain chairman. Tech stocks were struggling as investors digested Yahoo's warning, but blue-chip shares had extended their gains into a fifth consecutive session. --- Petronas is being sued, along with the Malaysian government, by the state of Terengganu over royalty payments that were cut off after an opposition party took control of the state. --- Indonesia's outlook has worsened because of political and social chaos, Moody's and S&P warned. Both credit-rating agencies expressed concern about President Wahid's leadership and growing sectarian violence. --- DaimlerChrysler has started talks with Volvo about buying the Swedish truck maker's stake in Mitsubishi. --- Singapore lowered the minimum bid for its April auction of third-generation mobile-phone licenses by 33%, citing weak market sentiment. --- The Philippine central bank cut its key interest rates by half a percentage point, effective Monday, in a move that surprised many who thought a loosening in policy wouldn't happen until a U.S. Fed meeting. --- A venture-capital concern opened the first of five global ""hub"" offices in Malaysia. The $200 million investment fund of Softbank Emerging Markets is owned by Softbank and the International Finance Corp. --- China could lay off 15 million workers from the ailing state sector over the next three-to-five years to boost efficiency, according to the chief economist for the Asian Development Bank. --- Malaysia's industrial output rose 12.5% in January from the previous year, even though manufacturers faced sharply lower export demand for electronics. --- Thailand's finance minister said the IMF supported the new government's planned projects, which include setting up a central asset-management company. --- Neptune Orient posted record net for the year, soaring 90% to 178.5 million. The company cited improved performance in all three of its divisions. --- The dollar weakened against the yen after the Japanese central bank calmed jitters about Finance Minister Miyazawa's comments that the government's finances were close to collapse. cgi.netvigator.com