Citicopr's merger approved by Fed
Article Abstract:
The proposed merger between the Travelers Group and Citicorp, which will result in the formation of the world's largest financial services company, has been approved by the Federal Reserve. The Fed has insisted on certain stipulations to the merger, such as the divestiture of some key insurance operations over the period of five years. Industry analysts expect that the merger will be completed sometime early next month. The new company, which is to be named Citigroup, will have combined assets of $751 billion.
Comment:
Has received Federal Reserve approval for proposed merger with Travelers Group, creating a $751 bil financial services firm
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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As more readers listen, rentals grow for tapes
Article Abstract:
Books on tape used to mean 2-cassette tapes of an abridged full-length book. They were affordable but not satisfying. Now more and more people who are readers anyway, rent rather than buy. They want the full-length version which can cost around $120 for about 12 cassette tapes and they are not interested in owning the tapes they way one owns a book. The "ultimate commuters," long-haul truckers, can rent full-length books on tape at one truckstop and return it at another.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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