Wednesday, August 12, 1998
British Petroleum, Amoco to merge
Oil giants British Petroleum Plc (BP) and Amoco Corporation agreed to merge in a deal that values Amoco at $48 billion, the largest industrial merger in history. The combined company will be called BP Amoco Plc and will rank as Britain's biggest company.
US-Pak military exercise put off
The United States has decided to postpone indefinitely the joint military exercises with Pakistan unless Islamabad accepts the Comprehensive Test Ban Treaty and commits itself to halt fissile material production, reports Defense News.
US could pull out of CTBT to maintain lead
The United States is preserving its ability to conduct more nuclear tests if it decides to withdraw from the Comprehensive Test Ban Treaty to maintain the safety and reliability of its nuclear stockpile, according to Victor Reis, Assistant Secretary for defence programmes in the Department of Energy.
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