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To: phbolton who wrote (9319)	7/8/1998 8:01:00 AM
From: Glenn D. Rudolph	Respond to of 164684

PRESS DIGEST - Wall Street Journal - July 8 Reuters Story - July 08, 1998 03:25 MOT GM GMSTF UVSGA T TCOMA LNTV AMFM USW AA V%REUTER P%RTR UKI U E SP500 D NAT BUS AUT DPR US USC MUNI PRESS CGO TEL MOT.N GM.N GMSTF.O UVSGA.O T.N TCOMA.O LNTV.O AMFM.O USW.N AA.N NEW York, Reuters, July 8 (Reuters) - The following stories were reported in Wednesday's electronic version of the Wall Street Journal: * Dow Corning Corp reached a tentative pact with negotiators for women with silicone breast implants on a $3.2 billion bankruptcy-reorganization plan that would end most of the litigation. * Motorola Inc. posted a small second-quarter operating profit, surprising analysts. But the electronics giant warned that the economic downturn in Asia will pressure its earnings at least through the rest of this year. * A federal highway act has companies in many industries scrambling for contracts and workers. The $217 billion public-works program could generate more than $450 billion in economic activity, economists say. * General Motors Corp's talks with the UAW showed signs of a possible breakthrough. But people close to the talks said GM is pressing the UAW to pledge no further strikes as part of a settlement. * Gemstar International Group Ltd reacted coolly to a $2.8 billion bid by United Video Satellite Froup Inc. . The suitor's shares fell 9.2 percent amid investor concern about the size and timing of the bid. * Springfield, Ill., is facing at least one lawsuit after its municipal utility defaulted on contracts to supply electricity to four energy companies. * Megamergers are getting thumbs down from investors amid tougher reviews of big deals' benefits and a shakier market backdrop. AT&T Corp's stock has slid since it unveiled its Tele-Communications Inc pact. * The Dow Jones industrials eased 6.73 to 9085.04, after rising above 9100 during the day, but positive earnings data supported the broader market. * Two European markets' pact could reshape the way the region's bourses work. But the alliance of the Frankfurt and London exchanges faces hurdles. * The Treasury will unveil a new series of savings bonds that will have their returns pegged to inflation. * Paul Allen will be the top DreamWorks shareholder, after he agreed to buy more than half of a Korean firm's stake in the entertainment company, say people familiar with the deal. * Russian bond yields rose, the ruble weakened and stocks fell, as negotiators scrambled to make an IMF deal. * Hicks Muse will sell LIN Television Corp. to Chancellor Media Corp. in a stock deal valued at nearly $900 million. * A U S West Inc executive is quitting to run a small company, in the second recent departure of a telecom executive for an Internet-related business. * Schwab is close to offering stock research reports from other securities firms on-line, after a false start. * Aluminum Co. of America said its second-quarter profit was about the same as a year earlier and beat analysts' expectations, despite primary aluminum prices' drop. * Major U.S. airlines may post about $2 billion in profits for the second quarter, helped by low fuel prices, an industry group's chief economist said.