Short Reports

Tue., June 22, 1999

From Staff

America Online Inc., the largest provider of Internet services, said it will invest $1.5 billion in General Motors Corp.’s Hughes Electronics Corp., building on an earlier agreement to offer services over Hughes’ DirecTV satellite-television network. The investment will be used to develop and expand entertainment and Internet services that Hughes, the parent of No. 1 satellite-TV provider DirecTV Inc., and AOL now offer.

Singapore has declared this Dec. 31 a bank holiday, an official announced Monday. The coming of the new year has raised global fears that many computers’ inability to recognize the year 2000 could cause breakdowns in systems crucial to everything from banks to airplanes.

Nampa, Idaho-based computer maker Micron Electronics Inc. reported an 18.6 percent increase in third-quarter profits as production management improved and product returns declined.

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Short Reports

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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