Reported by Star-Bulletin staff & wire
Monday, January 20, 1997
Reported by Star-Bulletin staff & wire
Monday, January 20, 1997
The Small Business Development Center at the University of Hawaii-Hilo has received three grants worth nearly $5 million. Hilo center gains
$5 million in grantsA federal grant to assist displaced sugar workers and encourage diversified agriculture totaled $4.7 million.
The center also received $135,000 from Maui County and $55,000 dollars from the Maui Economic Development Board to support its Business Research Library.
The library conducts research for small-business owners throughout the state.
NEW YORK - Microsoft Corp.'s stock gained today after the computer software giant's report Friday of better-than-expected profits on broad strength in sales. Microsoft shares rise
on strong earningsShares of the Redmond, Wash.-based company climbed $3.621/2 to close at $90.75 in heavy trading on the Nasdaq market.
On Friday, after the markets closed, Microsoft posted earnings of $741 million, or 57 cents a share, in its fiscal second quarter - a 29 percent increase over the $575 million, or 45 cents a share, in the year-ago quarter.
Revenues rose 22 percent to $2.68 billion from $2.2 billion a year earlier.
Wall Street analysts on average had expected Microsoft to report earnings of 51 cents a share, with estimates ranging from 47 to 55 cents, according to First Call, which tracks analysts' estimates.
STAMFORD, Conn. - GTE Corp., stepping up its attack overseas, said today it hired veteran international telecommunications deal-maker Ignacio Santillana to pursue alliances, acquisitions and other investments outside the United States. GTE moves to pursue growth
outside U.S.Stamford, Conn.-based GTE, the parent of GTE Hawaiian Tel, also expanded the duties of its Latin American operations and development chief, Bruce E. Haddad, who will control the company's operations outside the United States.
The Wall Street Journal, citing industry executives, reported today that the appointment of Santillana, the former chief executive of Spain's Telefonica Internacional SA, is part of a major expansion of GTE's management and operations worldwide that was recently ordered by GTE's international chief, vice chairman Michael T. Masin.
TOKYO - Tokyo stock prices dropped more than 3 percent today, pushed down by disappointment over a lack of specific economic reform proposals in a speech by Prime Minister Ryutaro Hashimoto. The dollar rose against the yen. Tokyo stock market falls,
dollar risesThe benchmark Nikkei Stock Average of 225 selected issues shed 609.70 points, or 3.37 percent, closing the day's trading at 17,480.34 points.
In currency dealings, the dollar was quoted at 117.56 yen, up 0.62 yen from late Friday in Tokyo and also above its late New York level of 117.38 yen, on Friday.
The dollar continued to gain on the yen in New York currency trading late this afternoon, rising to 118.1, according to Bloomberg News.
