DENVER -- AirTouch Communications Inc. today renewed a deal to buy the domestic mobile-phone business of U S West Inc., five months after the elimination of a federal tax loophole killed an earlier proposal. AirTouch said it would pay $4.3 billion in common and preferred stock for the Baby Bell unit, more than it originally offered in stock. AirTouch officials said they were able to renew the deal in part because the value of the company's stock has nearly doubled since the initial proposal. In addition to stock, AirTouch is assuming $1.4 billion in U S West debt.
Dow Jones trading takes sharp plunge NEW YORK - The Dow Jones industrial average plunged nearly 140 points Friday as some surprisingly strong economic data reignited inflation fears, undermining hopes the Federal Reserve won't raise interest rates next week. The Dow Jones industrial average fell 138.88, or 1.9 percent, to 7,194.67, trimming the week's gain to 25.14. Fast food, movies team up MIAMI - McDonald's has a mouse. Now Burger King has a dinosaur.