BIZWATCH : MARKETS.MARKET LOGIC: Stocks bounced back strongly from an early slump Friday, pushing the Dow Jones industrial average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. above 6,700 for the first time ever and to its fourth record close of the week. The Dow industrials, down nearly 68 points on interest rate jitters jitters 'Butterflies' Psychology An episode of nervousness or anxiety that often precedes a public event; jitters is a type of performance anxiety which may affect actors in a stage production–stage fright or soloist musicians; it may respond to anxiolytics at the opening, rebounded to finish with a gain of 78.12. MEMO INAUGURATION FESTIVITIES fes·tiv·i·ty n. pl. fes·tiv·i·ties 1. A joyous feast, holiday, or celebration; a festival. 2. The pleasure, joy, and gaiety of a festival or celebration. 3. : Brentwood-based Digital Evolution, Inc., will develop a multimedia center on the National Mall National Mall: see National Parks and Monuments (table). as part of the festivities for the 53rd Presidential Inauguration on Jan. 18-19. Housed within a 213-by-118-foot inflatable tent, the Technology Playground will feature a series of interactive exhibits that deal with everything from entertainment, education and the environment. A Web site - http://www.inaugural97.org - will document the event with hourly updates of photos and news footage. AIRLINE ALLIANCE: British Airways British Airways in full British Airways PLC International passenger airline based in London. In 1936 British Airways Ltd. was founded through the merger of three smaller airlines. and American Airlines applied for U.S. permission to create the world's largest airline alliance, arguing the deal is a necessary step in opening trans-Atlantic competition. A U.S. official said Friday that the government wouldn't approve unless Britain agreed to an open-skies pact with the United States to ease restrictions on rival carriers, which could be crippled by such a transportation titan. JAPAN STOCKS: Tokyo's stock market plunged 700 points Friday at the end of a weeklong, 11 percent dive, jarring investors and inspiring dark predictions of further losses. In a string of comments and announcements, top Japanese government officials made it plain what they plan to do to stop the stock plummet - not much. One official urged investors to ``remain calm.'' Another insisted there was no government ``quick fix'' to the nose-dive. A third top bureaucrat said the government would ``lose trust'' if it intervened. MCI (1) (Media Control Interface) A high-level programming interface from Microsoft and IBM for controlling multimedia devices. It provides commands and functions to open, play and close the device. (2) (Microwave Communications Inc. LAYOFFS: MCI Communications Corp. started cutting about 1,200 jobs across the country, beginning what the company called a ``small-scale realignment'' of its 52,000 employees. The nation's No. 2 long-distance company after AT&T Corp. made the cuts to stay competitive, adjust to the changing telecommunications marketplace and avoid the possibility of more drastic cuts later, spokesman Les Kumagai said Friday. KIDS MART: Children's clothing retailer Kids Mart Inc. has filed for Chapter 11 protection in Federal Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. and said it was looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. a buyer. The chain, based in Industry, has six outlets in the San Fernando Valley San Fernando Valley Valley, southern California, U.S. Northwest of central Los Angeles, the valley is bounded by the San Gabriel, Santa Susana, and Santa Monica mountains and the Simi Hills. . CABLE TV: Comcast Corp. has won the right to buy Time Warner's controlling stake in cable's E! Entertainment Television, the celebrity news network, for $321 million. Comcast, the nation's fourth-largest cable company, said Friday that it should decide by early next month whether to proceed. Comcast is one of five cable operators that are partners in the network. Late last year, they kicked off the process for a change in ownership. NEVER MIND: A day after he told a radio interviewer that his company could go bankrupt, Blue Cross and Blue Shield Blue Shield A US not-for-profit health care insurer that is a reimbursement intermediary for physicians. Cf Blue Cross. chief executive William Van Faasen said that's not the message he intended to deliver. ``We are not going bankrupt,'' he told The Boston Globe on Friday. Van Faasen said he was merely trying to explain his company's problems with Medex, a senior citizen insurance plan that lost $40 million last year. ``We are not in any imminent danger,'' said Van Faasen. CAPTION(S): 2 Charts Chart: (1) DOW INDUSTRIALS (2) RUSHING CASH Oil export revenues, in billions of dollars, 1996. Knight-Ridder Tribune Graphics Network |
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