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To: TokyoMex who wrote (5280)	10/5/1998 2:57:00 AM
From: TokyoMex	Respond to of 119973

Monday October 5, 1:14 am Eastern Time Note: this article has a followup with more information. PRESS DIGEST- New York Times business - Oct. 5 UKI U E SP500 D NAT MNI J BUS PUB AUT US USC MUNI PRESS ENT FIN VIA.A CCI.N INSS.O NEW YORK, Oct. 5 (Reuters) - The New York Times reported the following business stories Monday: * World financial markets are in turmoil. Hedge funds are bleeding billions. But with consumers confused and investors scared, a measure that might modernize the United States' financial system and make it more globally competitive is stuck in Congress, caught in the crosscurrents of several political fights. * Viacom's (AMEX:VIA - news) shares have been weathering the recent stock-market turbulence, largely on word that Blockbuster is bringing customers back into its stores in record numbers. * Citibank (NYSE:CCI - news), a pioneer of consumer electronic banking, has decided to abandon many of the computer systems it has built at a huge cost in the last decade and create a new retail banking and investment service on the Internet. * International Network Services Inc. (Nasdaq:INSS - news), founded in 1991, designs, manages and secures communications networks. And the company does it so well that it has become the network engineers' engineer -- the expert that the network experts can turn to when they need a specialist's touch. * The American Association of Advertising Agencies, in a significant step, is opening membership for the first time to independently owned agencies that specialize in services outside the realm of traditional advertising, like media planning and buying, public relations and corporate identity consulting. -------------------------------------------------------------------------------- More Quotes and News: Citicorp (NYSE:CCI - news) International Network Services (Nasdaq:INSS - news) Viacom Inc (AMEX:VIA - news) Related News Categories: US Market News

To: TokyoMex who wrote (5280)	10/5/1998 3:12:00 AM
From: TokyoMex	Read Replies (1) \| Respond to of 119973

October 5, 2:39 am Eastern Time (Note: this article is ''in progress''; there will likely be an update soon.) Nikkei closes at lowest level since January 1986 TOKYO, Oct 5 (Reuters) - Tokyo stocks wilted on Monday to close below 13,000 for the first time since January 1986 amid disappointment that the Group of Seven's weekend meeting offered no concrete plan to restore the global economy's health. The benchmark Nikkei average fell 275.57 points or 2.08 percent to 12,948.12. Nikkei December futures fell 310 to 12,950. The TOPIX index of all first-section shares fell 17.33 points or 1.71 percent to 996.69. It is the first time the TOPIX has fallen below 1,000 since November 1985. ''If the G7 nations want to restore confidence in global stock markets, coordinated interest rate cuts will be necessary,'' said Kazue Mayuzumi, deputy chief operating officer at Nikko Securities. ''But there is no sign the Europeans will reduce their rates.'' He said global investors were shifting to bonds amid spreading concern over deflation. (Note: this article is ''in progress''; there will likely be an update soon.) --------------------------------------------------------------------------------