BUSINESS NOTES; CINEMA.COM GOES TO U.K. EXECUTIVE.A European software firm's chairman was the winning bidder for the domain name Cinema.com at $700,000. Steve Hill
Steve Hill (born 1954 in Huntsville, Alabama) is an American Christian clergyman and evangelist. , chairman of Easysoft, a U.K.-based Web software company, was the final purchaser that bought the domain name from the previous owner, Jean-Noel Frydman, founder and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of France.com. The sale was brokered by Universal City-based GreatDomains.com. Hill plans to use Cinema.com to launch a global portal for films offering personalized e-commerce services to its users. - Daily News PRICE OF CRUDE UP TO $32.02 A BARREL Crude oil edged up in choppy trading as an uneasy market awaits the March 27 OPEC OPEC: see Organization of Petroleum Exporting Countries. OPEC in full Organization of the Petroleum Exporting Countries Multinational organization established in 1960 to coordinate the petroleum production and export policies of its meeting to find out how much additional oil will be injected into a needy market, and when. April crude rose 26 cents to $32.02 a barrel Monday on the New York Mercantile Exchange New York Mercantile Exchange (NYMEX) The world's largest physical commodity futures exchange. . The Organization of Petroleum Exporting Countries Organization of Petroleum Exporting Countries (OPEC), multinational organization (est. 1960, formally constituted 1961) that coordinates petroleum policies and economic aid among oil-producing nations. and other major oil producers agreed last March to remove about 5 million barrels a day from the market through March 31, 2000, to boost oil prices. Crude oil prices have since surged from $10.72 a barrel on Dec. 10, 1998, to a nine-year high of $34.20 in trading March 7, prompting U.S. officials to lobby for an increase in production. Tight supplies have forced the price at the pump of regular unleaded gasoline to an average of $1.59 a gallon - up 18 cents in the past four weeks, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Lundberg Survey of 10,000 stations released Sunday. - Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. ICAHN MAKES NEW MOVE FOR NABISCO Nabisco in full National Biscuit Company Former U.S. snack food and bakery product company. It was formed in 1898 when the American Biscuit Company merged with the New York Biscuit Company and went on to introduce a number of popular consumer brands such as Financier Carl Icahn has assembled a slate of nine directors to seek election to the board of Nabisco Group Holdings Corp., the snack food giant said Monday. The group headed by Icahn has raised its stake in the company to 8.9 percent, after buying 3.35 million shares between March 2 and Friday. Nabisco on Monday responded by adopting a shareholder plan, commonly known as a ``poison pill'' initiative. Such plans are designed to ward off any hostile takeover Hostile Takeover A takeover attempt that is strongly resisted by the target firm. Notes: Hostile takeovers are usually bad news, as the employee moral of the target firm can quickly turn to animosity against the acquiring firm. bids by allowing a company to increase its number of shares and make a takeover effort prohibitively expensive. Icahn sought the election of a proposed slate to the company's board last year, when RJR Nabisco Holdings Corp. split its tobacco and snack foods business. Eight of the nine directors Icahn proposed are the same people he proposed last year. Icahn had favored a different method of breaking up RJR Nabisco, saying it should spin off its food interests and keep its U.S. tobacco operations. Instead, RJR Nabisco spun off R.J. Reynolds Tobacco, the maker of Winston, Camel and Salem cigarettes. - Associated Press IBM's NEW LINEUP CALLED NETVISTA IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) Corp. on Monday introduced a brand name for the new line of simplified, space-saving computers and Internet ``appliances'' for consumers and businesses it plans to begin selling in the coming months. The NetVista line, the company's first new brand of desktop machines since the Aptiva was introduced in 1994, is geared toward the growing interest in computers designed for easy connections to the Web and other networks. IBM said it plans to spend $100 million on marketing and advertising for the NetVista All-in-One desktop computer, the NetVista Internet Appliance, the NetVista Legacy-Free PC and the NetVista Zero-Footprint Thin Client. The company also disclosed Monday some of the power, speed and size specifications that will be featured on the new machines, which were first unveiled without a brand name about a month ago. - Associated Press |
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