Originally created 02/21/01

Business briefs



'Chronicle' alters mutual-fund listings

Starting today, The Augusta Chronicle will no longer carry mutual-fund listings in weekday editions. Daily mutual fund information can be obtained online at www.augustachronicle.com/business.

The Chronicle will continue to print mutual-fund listings Sunday that provide a fund's Friday closing price and its net gain or loss for the week. A Chronicle survey conducted in December showed readers preferred following investment listings on a weekly, rather than daily, basis.

The Chronicle also is eliminating foreign-currency exchange rates, money rates and commodity prices from its weekday editions.

Leery investors send stocks down

NEW YORK - Skittish investors sold off technology stocks Tuesday, pushing the Nasdaq composite index down 107.03 points and sending all three major market indicators into negative territory for the year.

The Nasdaq tumbled to 2,318.35. Tuesday's loss built on the 5 percent fall the Nasdaq made Friday, when it dropped more than 127 points.

The Dow Jones industrial average made a more modest decline, slipping 68.94 to 10,730.88. Standard & Poor's 500 index lost 22.59 to finish at 1,278.94.

Declining issues outnumbered advancers slightly more than 8 to 7 on the New York Stock Exchange. Volume was 1.10 billion shares, down from 1.245 billion Friday. The market was closed Monday in observance of Presidents Day.

TV giant loses high-court appeal

WASHINGTON - Cable-television giant Time Warner Entertainment Co. lost a Supreme Court appeal Tuesday that tried to keep the government from limiting the number of customers the largest companies can serve.

The court, without comment, turned down the company's argument that such limits - intended to preserve diverse cable TV programming - violate the Constitution's First Amendment free-speech protection.

The company had also challenged the government's authority to limit the number of channels a cable system can fill with networks in which it has a financial interest.

The provisions were part of the 1992 Cable Television Consumer Protection and Competition Act. The law also allowed cable TV rates to be regulated and barred cable companies from being granted exclusive franchises.

In enacting the law, Congress found that cable operators had "undue market power" over consumers and video programmers.

The actual limits set by the Federal Communications Commission are being challenged in a separate case. The FCC said each cable operator could serve no more than 30 percent of the nation's subscribers, and cable systems could fill no more than 40 percent of their channels with affiliated programming.

Supermarkets open coffee shops

MAULDIN, S.C. - Bi-Lo Inc. says it will put sit-down cafes with Starbucks coffee in 100 of its grocery stores by the year's end.

The stores will be in Georgia, the Carolinas and Tennessee, spokeswoman Joyce Smart Buchanan said Tuesday.

The first opened Monday in Clemson, and the second is to open today at a Greenville store. The cafes also will have teas, pastries and desserts with seating around a counter, Ms. Buchanan said.