AP Executive Morning Briefing
www.theledger.com The Associated Press
The top business news from The Associated Press for the morning of Monday, January 27, 2003:
Worm Attack Exposes Inadequate Security NEW YORK (AP) - This weekend's Internet attack has security experts worried that too many system managers are only fixing problems as they occur, rather than keeping their defenses up to date. The worm that crippled tens of thousands of computers worldwide, congested the network for countless others and even disabled Bank of America cash machines took advantage of a vulnerability in some Microsoft Corp. software that had been discovered in July.
Venezuela Leader Warns of Price Controls CARACAS, Venezuela (AP) - President Hugo Chavez said he would implement price controls to go along with limits on the trade in foreign currencies as Venezuela's economy heads for a tailspin stemming from an opposition strike, which entered its ninth week Monday. "So that these (currency) controls do not hurt the poor, we will institute price controls," Chavez said Sunday in Porto Alegre, Brazil, at the World Social Forum. He did not give details of the controls.
Retailers Form Digital Music Venture LOS ANGELES (AP) - Six retail record store chains - hurting from competition from CD burning, online music and large discount stores - are teaming to offer consumers digital music downloads in their stores and over the Internet. The stores have formed a joint venture called Echo that will provide technology and allow them to offer individual tracks for downloading to portable devices and computers.
Progress Reported on Cheaper AIDS Drugs DAVOS, Switzerland (AP) - Global business leaders reported progress on making cheaper AIDS drugs available to poor nations as Microsoft founder Bill Gates made another contribution to health in the developing world - announcing a $200 million grant to fund medical research. Meeting at an exclusive Alpine resort, delegates to the World Economic Forum held talks on how to ensure access for poor countries to affordable copies of vital drugs while respecting the patent rights of pharmaceutical companies.
Super Bowl Advertisers Stick With Humor NEW YORK (AP) - Advertising's auteurs kept it quirky on Super Bowl Sunday, with humor a prime ingredient in most commercials as Americans weary of war talk and a gloomy economy were given a chance to chuckle. Brokerage Charles Schwab noted the fear of Wall Street's three years of declines, offering a man sprinting through his neighborhood, pursued by an unseen foe. The man is finally cornered in a backyard by the mail carrier - delivering a brokerage statement.
Suit Accuses Philip Morris of Deception EDWARDSVILLE, Ill. (AP) - Sharon Price switched from smoking regular cigarettes to brands labeled "light" when she was pregnant in the 1970s. "I knew the better choice was to quit, but I thought I was reducing my risk," the pack-a-day smoker said.
Questions Surround the Future of Fiat ROME (AP) - Watching Giovanni Agnelli's health became a macabre stock market hobby in recent months: When his life prognosis dimmed, Fiat stock rose. Traders heaped pressure on the Fiat empire overseen by Agnelli to get out of its losing car business. But the ailing Agnelli didn't pull out.
Gold Prices LONDON (AP) - Gold bullion opened Monday at a bid price of $372.50 an ounce, up from $366.30 late Friday.
Japan Markets TOKYO (AP) - The Nikkei Stock Average fell 122.18 points to close at 8,609.47 on Monday.
Dollar-Yen TOKYO (AP) - The dollar traded at 117.82 yen on Monday, down 0.03 yen from Friday.
Last modified: January 27. 2003 3:54AM