News In Brief

After declines in January and February, orders to US factories for big-ticket, durable goods rose 2.6 percent last month to a seasonally adjusted annual rate of $215.2 billion, the Commerce Department reported. The increase was fueled by a 9.7 percent jump in orders for electronics and electrical equipment. Shipments of big-ticket goods, a sign of current demand, rose 1.5 percent last month after a 1.4 percent drop in February.

The world's third-largest advertising agency, WPP Group of London, put a new friendly-takeover offer on the table for US rival Young & Rubicam Inc. - presumably larger than the roughly $4.7 billion all-stock bid issued last month. But a confidentiality agreement signed by both parties prohibits them from discussing the size of any offer publicly, reports said. WPP already owns two other major US-based agencies, J. Walter Thompson and Ogilvy & Mather Worldwide. A merger with Young & Rubicam would make it No. 1 in the world in terms of revenues.

(c) Copyright 2000. The Christian Science Publishing Society

You've read  of  free articles. Subscribe to continue.
QR Code to News In Brief
Read this article in
QR Code to Subscription page
Start your subscription today