Originally created 12/22/99

Business briefs: Tech stocks give Nasdaq record gain

NEW YORK -- Technology stocks soared Tuesday, giving the Nasdaq composite index its biggest one-day point gain ever, after the Federal Reserve left interest rates unchanged.

The Dow Jones industrial rose 56.27 to close at 11,200.54.

The Nasdaq's record gain of 127.28 brought the technology-dominated index to 3,911.15 for its 56th new closing high of 1999. The Nasdaq is up 78 percent in the year to date.

Disney unions threaten strike

PARIS -- Five unions at Disneyland Paris said they would go on strike this week after talks with management failed to resolve a pay dispute, casting a cloud over Christmastime celebrations at the popular tourist destination.

Management has said the strike will not gain much support among Disneyland's 9,000 workers and will have no effect on the park.

Social Security checks coming early

WASHINGTON -- The Social Security Administration is taking extra precautions even though year 2000 computer problems are not expected to interfere with January benefit payments to 44 million elderly and disabled Americans.

Paper checks and electronic files for direct-deposit benefits will be delivered to the U.S. Postal Service and banks a day earlier than usual, the agency said. Beneficiaries should expect to get their money on the normal day -- Jan. 3, for most people.

Judge sentences teen AOL hacker

WHITE PLAINS, N.Y. -- A young man who hacked into America Online Inc.'s computers and replaced their programs with his own was sentenced Tuesday to a year in jail -- and five years without a home PC.

Jay Satiro, 19, of New Rochelle, N.Y., "is to have no computer in his room and no computer access at home," said Judge John M. Perone.


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