Originally created 08/18/00

Business briefs



Groups lead rise in Dow, Nasdaq

NEW YORK - Stocks rose modestly Thursday as oil producers and brokerages powered the Dow, while semiconductors and fiber optics makers charged the Nasdaq.

The Dow Jones industrial average lifted 47.25 at 11,055.64. The Nasdaq composite index rose 79.67 at 3,940.87.

Advancing issues beat decliners by a narrow margin on the New York Stock Exchange, where volume came to 900.90 million shares, down from Wednesday's pace.

Radio show host to move to Mobile

Former WZNY-FM (105.7) morning show host and Augusta native Ron Roberts has been hired as promotions director and morning show host for WABB-FM in Mobile, Ala., the station announced this week.

Mr. Roberts, a two-time winner of the Georgia Association of Broadcasters' Radio Personality of the Year award, had worked for WZNY "Y-105" since 1996. He was fired by the hit-music station's new owner, Cumulus Media Inc., earlier this year.

Tensions rise in phone talks

WASHINGTON - Talks aimed at settling a 12-day-old strike by Verizon Communications workers headed for a crucial phase late Thursday.

Union negotiators said they would walk out at midnight unless they reached an agreement or could report substantial progress in talks, which began in late June.

Targeted bank reports no virus

ZURICH, Switzerland - Swiss banking giant UBS AG said Thursday no damage has been reported as a result of a new strain of the "Love Letter" computer virus that specifically targets its customers.

Only a small proportion of online banking customers face any risk, the bank said in a statement. Specialists at UBS activated virus filters Wednesday morning that prevented the virus spreading at the bank, it added.

Hollywood wins in DVD piracy case

NEW YORK - A federal judge backed the movie industry Thursday in its battle to stop DVDs from being copied on computers.

The ruling came in a case brought by eight Hollywood movie studios that sued to stop a Web site from providing or linking visitors to software that descrambles the code meant to prevent DVDs from being copied.

New AOL software leaked to Net

SPRINGFIELD, Va. - An unfinished version of software being developed by America Online Inc. has been prematurely leaked onto the Internet.

The software, named Gamera after a monster in the Godzilla movies, is designed to allow people to connect to AOL services like e-mail from a host of next-generation "Web appliances" like kitchen-counter computers.

Hewlett-Packard profits rise

PALO ALTO, Calif. - Hewlett-Packard Co. on Wednesday reported a 23 percent increase in its third-quarter profit, easily beating Wall Street expectations as home PCs and notebook sales increased despite an overall sluggish market.

The Palo Alto-based major maker of computers, printers and imaging products earned $1.05 billion, or $1.01 per share, in the three months ended July 31. That was up from a profit of $853 million, or 81 cents a diluted share, in the year-ago quarter.