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To: Doer who wrote (56256)2/17/1999 8:39:00 AM
From: Logistics  Read Replies (2) | Respond to of 119973
 
AOL in talks with EBAY::

Wednesday's Top Stories
America Online in talks with eBay

Compiled by CBS MarketWatch
Last Update: 5:31 AM ET Feb 17, 1999

NEW YORK (CBS.MW) -- America Online Inc. (AOL) is in talks
with eBay Inc. about developing a closer business relationship.
According to The Wall Street Journal, this could include AOL
acquiring a minority stake in eBay, which is an online-auction
company. Analysts see two big attractions of eBay for AOL. One
is plenty of lot of traffic and another is the ability to actually
hold users' interest for more than a few seconds. Since going
public in September, eBay's stock has soared to more than 10
times its initial value, giving the company a market
capitalization of $9.5 billion. That means that a 10% stake in
eBay would cost $950 million, even without an acquisition
premium. A 25% stake would cost $2.4 billion or more. The
Wall Street Journal

Union for American Air pilots pays $10 million to court

DALLAS (CBS.MW) -- The union which represents American
Airlines pilots has made an initial $10 million payment to a
federal court for last week's travel-disrupting sick-out. The Wall
Street Journal reported that the union is also prepared to face an
even bigger fine Wednesday. The Allied Pilots Association told
the Journal it was "scrupulously complying" with the order from
U.S. District Judge Joe Kendall to end the illegal sick-out. On
Tuesday American flew nearly a full schedule while negotiations
continued over how to integrate recently acquired Reno Air Inc.
(RENO) into American. Both sides said progress had been made
on minor issues, but no movement was reported on core issues.
The Wall Street Journal

European Union raids banks in euro probe

BRUSSELS (CBS.MW) -- Inspectors from the European
Commission raided eight major European banks Tuesday which
are suspected of conspiring to fix charges relating to
transactions in the new European single currency, the euro.
According to the Financial Times, the raids were the
culmination of an investigation by the Commission, the E.U.'s
15-nation executive, into allegations that banks have been
ripping off consumers by not passing on savings gained from
the elimination of exchange rate risks. "We believe there may be
an understanding between the banks not to compete. We will
see what our fishing reveals," Karel Van Miert, the EU
competition commissioner told the Financial Times. Financial
Times