Burger King expanded its national recall to include all plastic balls holding Pokemon toys in the wake of the suffocation death of a California girl, who was found dead in her playpen with half a ball over her nose and mouth. The restaurant chain told the Milwaukee Journal that it will stop handing out the balls at its 8,200 locations nationwide. On Monday, the company stopped giving away Pokemon balls in meals marketed to those younger than 7.
Companies around the world sold a record $3.22 trillion of stocks and bonds in 1999, as initial public offerings in the United States doubled and Europe's introduction of a single currency spurred debt sales there. Morgan Stanley Dean Witter accounted for the biggest share of the $12 billion in bankers' fees generated by U.S. stock and bond sales, taking in $1.9 billion. Goldman Sachs Group ranked No. 2, at $1.74 billion. Merrill Lynch slipped to No. 3 from the top spot last year, collecting $1.5 billion.
CMGI, an Internet venture fund, agreed to buy more than 80 percent of closely held Adtech Advertising Service Providing, a German online advertising company, to expand Web marketing to Europe. Terms weren't disclosed. CMGI has agreed to buy several online advertising and marketing companies in recent months as it seeks to take on top online advertising company DoubleClick.
Globalstar Telecommunications, the only satellite-telephone company not under Chapter 11 bankruptcy protection, saw its share price rise $8.20-5/16, to $44, yesterday, a day after the Federal Communications Commission gave its service provider, Globalstar USA, permission to sell satellite phones and services in the United States.
Waste Management, the largest U.S. garbage hauler, has filed suit over its $1.3 billion acquisition of Eastern Environmental Services, seeking unspecified damages for alleged fraudulent overstating of profits by Eastern Environmental in a scheme "to raise Eastern's market value artificially by rapid acquisitions and fraudulent accounting and then to sell Eastern to a large buyer."
US West, the U.S. local telephone company merging with Qwest Communications International, said it sold 65 percent of its stake in Global Crossing to take advantage of a rise in Global Crossing's share price. US West sold about 24 million shares, valued at $1.15 billion.