Pound rallies on loan and wage plan easing crisis
The pound rose to about 1.80 dollars after a 5.3 billion dollar loan boosted Britain’s currency. Traders cited the loan and a miners union acceptance of a wage restraint plan as factors, with inflation cited at 18.9 percent as a long term pressure on the pound.
MENTIONED IN THIS ARTICLE
London
Britain
Miners Union
Denise
Home builders mobilize to fight zoning and code costs
The Florida Home Builders Association urges reconsideration of zoning and building code rules they deem unnecessary as a factor in rising new home prices. They cite 64 stipulations deemed extras and argue costs stem from financing and land prices as well as regulations.
MENTIONED IN THIS ARTICLE
Washington
United States
Florida Home Builders — Association
Florida Group
Explosions injure five in Chicago trash receptacles
Four blasts within 15 to 20 minutes struck trash bins downtown and on North Michigan Avenue injuring five people. Police said a high velocity explosive caused the damage and that the incidents aimed to attract attention, not cause severe harm.
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Chicago
Michigan Avenue
First National Bank of Chicago
Henrotin Hospital
Alan Markovitz
Shu
Interest and dividend tax withholding proposed in Congress
A plan would require withholding of income taxes from annual interest and dividend payments to over 50 million households. The IRS estimates $2.4 billion yearly in federal taxes raised and cites widespread tax evasion without withholding. Senate Finance Committee Chairman Russell Long pushes for revenue, amid debates on preserving tax breaks for investors and timing of broader tax cuts.
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Washington
Congress
Internal Revenue Service
Senate Finance Committee
Russell Long
D-La
IRS
Donald C. Alexander
Senate
Treasury Department
Long
Military four services accused of black recruitment discrimination
Washington based military manpower specialist Edward Scarborough cites Defense Manpower Commission materials suggesting the Army Navy Air Force and Marine Corps used policies to limit black enlistments. He notes a staff paper claimed deliberate discrimination though the final report avoided details.
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Washington
Edward Scarborough
Defense Manpower Commission
Commission
Kenneth J. Coffey
Frederick J. Reeg
Scarborough
Citizens’ Commission
Bruce Palmer Jr
The
Washington Post
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Eet
Supreme Court toughens burden in civil rights cases
The Court held 7 to 2 that proving racial bias requires showing discriminatory purpose, not just impact. The ruling sustains a District of Columbia police recruitment test where blacks failed more often, while noting impact remains relevant but not sole proof of discrimination.
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Washington
Supreme Court
District of Columbia
Byron White
Richard Sobol
D.C
Reason for dam collapse Under probe in Idaho
Idaho officials investigate Teton Dam failure with seepage as a leading theory and a 1975 Idaho Utah border earthquake as possible prior damage. Seven people are confirmed dead from floods along the Teton and Snake rivers after the dam breach, including a heart attack death during evacuation.
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Idaho
Cials
Idaho-Utah
Teton
Snake Rivers
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