News In Brief

US business inventories rose 0.4 percent in September to $1.12 trillion - the biggest increase since a 0.5 percent jump in March, the Commerce Department reported. At the same time, however, sales decreased 0.2 percent in September, following a 1.2 percent gain the month before. The only other time sales have fallen this year was in January, when they declined 0.2 percent.

What could be the largest hostile-takeover battle in corporate history appeared to be shaping up as Germany's Mannesmann conglomerate rejected a $106 billion offer from Vodafone AirTouch, the British mobile-phone giant. Mannesmann called the bid "wholly inadequate." But with Vodafone expected to release a robust half-year earnings report today, analysts said the company could afford to - and might well - more than double its offer to about $235 billion. At stake for Vodafone is leadership in the European mobile-phone market. But its offer did not include rival Orange Plc., which Mannesmann agreed to buy last month for $32 billion. British law forbids a single company from holding more than one mobile-phone license.

(c) Copyright 1999. The Christian Science Publishing Society

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK