Business Briefs

Reported by Star-Bulletin staff & wire

Monday, May 10, 1999

Seminar to address working with military

What Hawaii businesses need to know to get into the federal government supply chain through electronic commerce will be explained Wednesday at a seminar at the Pagoda Hotel.

Details of how the electronic commerce and electronic data exchange systems work and what kind of computers and software are needed will be revealed at the 8 a.m.-to-3:30 p.m. meeting conducted by the Aloha Chapter of the National Contract Management Association. At the meeting, the Navy Electronic Commerce Online will unveil their electronic format for doing business with the Navy.

The seminar's cost is $50 for a continental breakfast, the sessions, lunch and materials. For information contact Hector Venegas, 523-2931.

London firm buying New York bank

LONDON -- HSBC Holdings Plc is buying the holding company that controls Republic National Bank of New York and an affiliated banking company for about $10.3 billion in cash. The deal announced today will expand HSBC's holdings in the United States which include Marine Midland Bank. HSBC also controls Hong Kong's leading bank, the Hongkong and Shanghai Banking Corp., as well as Britain's Midland Bank.

Under the agreement, London-based HSBC will pay $72 a share for Republic New York Corp. and its affiliate Safra Republic Holdings SA. Safra is the holding company for banks in Switzerland, France, Luxembourg, Gibraltar, Monaco and Guernsey, one of the Channel Islands.

Microsoft to invest $600 mil in Nextel

REDMOND, Wash. -- Microsoft Corp. said it will invest $600 million in wireless phone company Nextel Communications Inc., giving the world's largest software maker access to the emerging market for wireless Internet users. Microsoft is paying $36 a share for a 4.25 percent stake in Nextel, or 1 percent less than Friday's closing price. The investment comes less than a week after No. 2 U.S. long-distance phone company MCI WorldCom Inc. ended negotiations to buy Nextel.

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