Friday, October 13, 2000

Business Digest

Deutsche Bank offer accepted

        National Discount Brokers Group Inc. has accepted a cash offer of Germany's Deutsche Bank AG to acquire all its outstanding stock for $49 a share.

        Through its affiliates, Deutsche Bank already owned about 16 percent of NDB, most of which it purchased in June in a private transaction. The deal values NDB Group at about $1 billion.

        National Discount Brokers Group, based in Jersey City, N.J., is the parent company of National Discount Brokers Corp./, an online stockbroker, and NDB Capital Markets Corp., a leading market maker, facilitating stock transactions for over-the-counter securities.

Shareholders OK deal

        Shareholders of US Airways on Thursday overwhelmingly approved the carrier's $4.3 billion merger with United Airlines. The deal is still being reviewed by U.S. and European regulators.

        More than 40 million shares were voted in favor of the deal at a special US Airways shareholders meeting. Only 619,000 shares were voted against. The merger would combine the nation's largest and sixth-largest air carriers.

        US Airways would become a United subsidiary, with US Airways shareholders selling their stock to United's parent UAL Corp. for $60 a share.

Jobless claims rise

        The number of Americans filing new applications for state unemployment benefits rose last week to its highest point since mid-September, suggesting business demand for workers may be easing a bit but remains strong.

        The Labor Department report ed Thursday that new claims for jobless benefits increased to a seasonally adjusted 306,000 for the week ending Oct. 7 — in line with many analysts' expectations.

WebMD co-founder quits

        WebMD Corp. said Thursday that co-founder Jeffrey T. Arnold resigned from his posts of co-chief executive and director.

        The move follows an announcement last week that chief technology officer Pavan Nigam resigned. Mr. Clark and Mr. Nigam founded WebMD's predecessor, Healtheon, in 1996. The company named Martin J. Wygod sole CEO. Mr. Wygod had been co-CEO. WebMD runs an online network used by health-care organizations to exchange information and process transactions. CEO resigns Inc., the largest Internet provider of mailing and shipping services, said John Payne resigned as chairman and chief executive and the company is exploring alternatives. spokesman Seth Oster wouldn't comment on the company's alternatives. Mr. Payne will remain on the board.


Hasbro exits home of Play-Doh, G.I. Joe
Fear fuels Dow's dive
Housing district envisioned
Mall adds bargain retailer
Edgecliff faces competitor in bid for hotel chain
Robotic 'pets' unveiled
- Business Digest
Europeans likely to block merger of Vivendi, Seagram
FCC blocks limits on phone access for building tenants
Industry notes: Manufacturing
Tristate Business Summary
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