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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Aug 17, 1990
Page
5
A damaged OCR line suggests a fragmentary local notice or brief item. Readable clues imply an official action or public notice, but details are incomplete and names, dates, and places cannot be confirmed.
Small firms gain export aid from SBA with loan guarantees and international trade programs. West Virginia director Marvin P. Shelton notes that expertise and financing unlock overseas markets. Programs include loans for fixed assets, working capital, export manufacturing, and matchmaking missions. Contacts in Clarksburg and Charleston. Greg Jordan.
Wall Street fell sharply on moderate volume as inflation signs and Middle East tension unsettled markets. The Dow dropped 66.83 to 2,681.44, with 1,300 stocks down vs 330 up, amid higher price readings and a weaker housing report.
The CPI rose 0.4 percent in July signaling persistent inflation before the oil shock. Core prices gained 0.6 percent, while energy costs fell 0.7 percent. Housing starts dropped 2.6 percent to the weakest since the last recession, complicating Fed policy decisions.
Gold futures rose on the New York Commodities Exchange as Persian Gulf developments spurred a rally in crude oil, a stock market slide, and inflation fears. West Texas Intermediate crude settled higher, heating oil and gasoline gained, and livestock futures mixed on the Chicago Mercantile Exchange.
U.S. dollar sinks to an all time low against the German mark as Middle East turmoil and signs of economic weakness drive a broad sell off in foreign exchange. Gold climbs while the dollar drops against the Swiss franc and pound amid CPI data and Iraqi stance.
James River Corp unveiled a sweeping restructuring at its Richmond headquarters, selling or shutting down 1.3 billion dollars in nonperforming specialty units. The plan concentrates on towels and tissues, Dixie food service, food and consumer packaging, and communication papers to fuel a capital investment program and global growth.
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