Business Briefs

Reported by Star-Bulletin staff & wire

Friday, November 26, 1999

Local index signals growing economy

The state Department of Business, Economic Development and Tourism's leading economic indicator has reached a record high for the second month in a row, the department announced this week. It continues to signal emerging growth in Hawaii's economy, said department Director Seiji Naya. The indicator is designed to anticipate the general level of economic activity five to 10 months in advance, he said.

News of possible IPO raises AT&T stock

NEW YORK -- AT&T Corp. shares rose 8.1 percent after the Wall Street Journal said the largest U.S. telephone company is considering selling a 10 percent to 15 percent stake in its wireless unit to the public.

AT&T shares rose $4.25 to $57.44 in New York Stock Exchange trading of more than 12.4 million shares, making it the most active stock. Earlier, the shares touched $58, a four-month high. The wireless initial public offering could be the largest ever in the United States, raising as much as $10 billion.

Foreign airline rules in works, report says

NEW YORK -- The Transportation Department is drafting safety guidelines that would raise the scrutiny of foreign airlines involved in ticket sharing with U.S. carriers, The Wall Street Journal reported today. The guidelines, expected to be announced in early December, would force U.S. airlines to routinely assess the training, maintenance and other practices of their foreign partners, said the Journal, citing unidentified sources.

In other news ...

Bullet Red Hat Inc., developer of a free computer operating system that competes with Microsoft Corp.'s Windows, surged 26 percent on enthusiasm for the increasing use of its Linux software. Shares jumped $44.56 to $213.50.

Bullet Shares of Ariel Corp., a money-losing maker of modem cards for Internet-access providers, tripled for a second time in two sessions after the company said government agencies approved its new product. Ariel jumped $26.25 to $37.

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