Business Briefs

Reported by Star-Bulletin staff & wire

Tuesday, March 23, 1999

Hispanics to meet on Oahu in 2002

The U.S. Hispanic Chamber of Commerce has narrowly voted to hold its national convention in Hawaii in 2002.

Hawaii topped Las Vegas by one vote, 11 to 10, when the organization's board voted, the chamber said.

Organizers said the convention will bring 8,000 to 12,000 visitors to the islands and provide substantial business for hotels, restaurants and the Hawaii Convention Center.

The Hispanic chamber had been wooed by the Hawaii Hispanic Chamber of Commerce and local tourism officials.

OPEC approves oil production cuts

VIENNA, Austria -- OPEC members agreed today on a plan to cut crude oil production by 2.104 million barrels a day and to maintain the lower levels of output for a full year.

The group of 11 oil producing nations detailed the plan in a communique released after a meeting of OPEC members. It includes reductions by non-OPEC producers as well as those in the group in an effort to end a global oil glut and strengthen prices that had languished at a 12-year low as recently as December.

Yahoo! stock falls on buyout reports

SANTA CLARA, Calif. -- Yahoo! Inc. shares fell amid speculation the No. 1 Internet search company is in talks to buy Inc., which broadcasts sporting events, concerts and news conferences over the Internet.

Yahoo fell $9.50 to $155.50 and fell $4.50 to $112 after surging 37 percent yesterday. Business Week reported speculation that Yahoo might buy it. The Wall Street Journal reported that Yahoo is willing to offer $110 to $120 a share for each Broadcast .com share.

In other news . . .

Aventis SA, the product of Hoechst AG's planned union with Rhone-Poulenc SA, will be the world's biggest drugmaker, according to IMS Health Inc.

See expanded coverage in today's Honolulu Star-Bulletin.
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