BRIEF TRANSMISSIONS

BRIEF TRANSMISSIONS

GEMCO joint venture of McGraw-Hill and Citibank is quietly being suspended. Terse statement from McGraw-Hill blames "dramatic and continuing changes in the world oil market" for disrupting plan to integrate oil market information and trading services on one network. Low-key dissolution of venture contrasts with high-profile launch last year which featured appearance by Citicorp chairman John Reed. McGraw-Hill statement refers to GEMCO as "market test," although "test" was not in Reed's vocab

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