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Cementing its position as a high-tech superpower, America Online announced it had successfully negotiated the purchase of Netscape Communications for $4.21 billion. Net- scape, whose software popularized the Internet, would cease to exist as an independent entity and function as an AOL division, the announcement said.
Earlier estimates of the US gross domestic product for the July-September quarter were too conservative, the Commerce Department said. But it also announced that corporate profits for the period fell 1.8 percent, the third such decline in the past year - a factor that analysts said raised questions about the sustainability of the latest stock market rally. The Commerce Department said the broad measure of overall economic activity grew at a 3.9 percent rate instead of the 3.3 percent reported last month.
US troop strength in Asia will be kept at 100,000 "for the foreseeable future," even if concerns over North Korean nuclear weapons development are resolved and the peninsula is reunified, a new Pentagon review on regional security said. Since the last such review, in 1995, the region has experienced economic decline in several key countries and nuclear tests by India and Pakistan, analysts noted.
CBS said it had not yet been served with a subpoena for un-edited "60 Minutes" videotape showing Dr. Jack Kevorkian administering a lethal injection to a terminally ill patient. Oakland County, Mich., prosecutors announced the subpoena but said more investigation was needed before any charges against Kevorkian would be filed. Meanwhile, Gov. John Engler's office said the state would pursue a charge of practicing medicine without a license against the retired pathologist. Regulators suspended his license in 1991.
Anti-Semitism is declining in the US, except among blacks, a new survey indicated. The Anti-Defamation League (ADL) said its findings showed blacks were almost four times as likely as whites to hold anti-Jewish views. ADL director Abraham Foxman blamed Nation of Islam leader Louis Farrakhan for promoting such sentiments. Spokesmen for both Farrakhan and the National Association for the Advancement of Colored People disputed the ADL findings.
Spending on disaster relief this year because of hurricanes Bonnie and Georges, along with flooding, wildfires, and tornadoes, has set a record, the Red Cross said. The agency projected it will have expended $160 million by the year's end to help 300,000 families in 41 states, Guam, and Puerto Rico.
Powerful winds and heavy precipitation knocked out electric power for more than 100,000 people in Oregon and Washington. Gusts clocked at 89 m.p.h. blew roofs off buildings, shattered windows as far away as Reno, Nev., and contributed to at least one death.
Susan McDougal was acquitted on nine counts of embezzlement and forgery by a Santa Monica, Calif., court. The jury found the Whitewater figure and former Clinton business associate innocent of stealing $50,000 from symphony conductor Zubin Mehta and his wife while serving as their bookkeeper from 1989 to 1992.
Palestinian Authority President Yasser Arafat opened a new international airport in the Gaza Strip - the first on Palestinian soil. The $250 million facility, in the town of Rafah, was hailed by Palestinians as a symbol of their sovereignty and a commercial lifeline. The opening was delayed by two years because of disputes with Israel. Those were resolved last week, with Israel gaining control over which countries can fly to and from Gaza.
As Iraq faced a new showdown with the UN over weapons inspections, the Baghdad government pleaded for help from its Arab neighbors. State-controlled newspapers carried warnings that Western attempts to topple President Saddam Hussein could destabilize the Middle East. The government continued to resist UN weapons inspectors' requests for documents relating to the country's arms program. The Security Council, meeting to find ways to resolve the impasse, was expected to call on Baghdad to cooperate with inspectors.
Meanwhile, Iraq was searching for the perpetrator of an abortive assassination attempt on Saddam Hussein's deputy. Reports of the failed attempt to kill Izzat Ibrahim were broadcast as Britain was hosting a meeting of Iraqi dissidents seeking to oust Saddam.