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Daily Memo:

Acupuncture and Oriental medicine practice opens

Emerald Phoenix Acupuncture, an acupuncture and Oriental medicine practice, opened Oct. 8.

Lori C. Farley, a licensed acupuncturist, has a master's degree in Oriental Medicine and bachelor's degrees in mechanical engineering and microbiology. She worked in the medical products department for DuPont Chemical Co. before beginning her career in alternative medicine.

Farley specializes in cosmetic acupuncture to reduce the signs of aging. She uses acupuncture to treat menopause, migraine headaches, chronic pain and the side effects of chemotherapy, among other ailments.

Farley will hold a grand opening open house from — to 7 p.m. today.

Emerald Phoenix is at 1762 E. McAndrews Road, Suite K., Medford. The number is 245-1720.

Medford bank earns five-star superior rating

People's Bank of Commerce in Medford has earned BauerFinancial Report's five-star superior rating for the third quarter.

BauerFinancial Reports, a leading bank research firm, recognized People's Bank for its performance for the last three months. The award is based on an analysis of current financial data filed by People's Bank with federal regulators, supplemented by historical figures.

Chevron to acquire Texaco in $35.1 billion merger

SAN FRANCISCO — Chevron Corp. reportedly has reached a deal to acquire Texaco Inc. for about $35.1 billion in stock, creating the world's fourth-largest oil company.

The boards of both companies approved the transaction, The Wall Street Journal reported on Sunday, citing sources familiar with the matter. A formal announcement is expected Monday morning.

Antitrust concerns are likely to be raised regarding the merger because the combined company would have an interest in roughly 40 percent of the retail gasoline market and one-third of refining capacity on the West Coast.

Overcrowded airwaves limit wireless services

WASHINGTON — The promise of new generations of handheld devices and phones that receive high-speed video and data is bumping up against limits imposed by overcrowded airwaves already occupied by the Pentagon and the private sector.

To ease the congestion, President Clinton directed federal agencies Friday to determine whether existing government and commercial users can be relocated from these frequencies so they can be used to offer new wireless services worldwide.

Clinton's action raises the possibility that the military and some commercial services will have to move frequencies.