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CNN Live At Daybreak

Free Trade, Energy and Hewlett-Packard Top Market Concerns Today

Aired November 12, 2001 - 05:16   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
KYRA PHILLIPS, CNN ANCHOR: We're going to check in on business, the first check of the business.

We're going to go to David Haffenreffer in New York -- hi, David. Good morning.

DAVID HAFFENREFFER, CNN CORRESPONDENT: Hi, Kyra.

Another business week getting under way this morning and we'll certainly be watching the number one, shares of the number one energy trader, rather, Enron this morning. Smaller rival Dynegy has agreed to buy Enron for $9.5 billion in stock. Now, this deal ends weeks of speculation about Enron's future. The troubled energy couple is weathering an SEC investigation, withering profits and crippling debt downgrades. The new company will retain the Dynegy name.

Well, Walter Hewlett, son of the Hewlett-Packard co-founder, has hired a consulting firm to reportedly assist his opposition to the $20.5 billion Compaq deal. H.P. also canceled its analyst meeting in early December, citing a need to prepare additional details about that deal.

And world trade ministers buckle down to the sticky subject of free trade talks today. This on the heels of a historic move over the weekend. After 15 years of negotiations, China was ushered into the World Trade Organization. The move was unanimously approved at the WTO meeting in Qatar on Saturday. It brings about 1.3 billion people into the global market, expected to boost a badly dented global economy. The WTO also approved neighboring Taiwan's entry into the world trade body.

And those are some of the business headlines on this Monday morning -- Leon, back to you.

LEON HARRIS, CNN ANCHOR: All right, thanks.

David, we'll check back with you later on.

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