Business Ballot shows 20 percent of U.S. firms cut jobs
The U S Chamber of Commerce poll finds 24 percent added jobs and 20 percent cut in the first half of 1990. The employment index sits at 51, with 50 as balance, signaling a slowing Main Street economy and the start of a mild recession.
MENTIONED IN THIS ARTICLE
U.S. Chamber of Commerce
U.S
Richard W. Rahn
Chamber
Bureau of Labor Statistics
Rahn
the Business Advocate
Nation
Business Magazine
Wall Street rallies sharply on Friday amid moderate rebound
Wall Street closed with a sharp rally as the Dow rose 49.50 to 2,532.92 after a weeks-long decline, with 956 stocks up and 649 down on NYSE listed issues. Analysts cited technical rebound and hopes oil and rate pressures from the Middle East crisis have not yet fully deepened, while Fannie Mae announced up to 500 million in stock buybacks.
MENTIONED IN THIS ARTICLE
New York
Middle East
Iraq
Kuwait
Ner
Federal National Mortgage Association
Fannie Mae
General Electric
International Business Machines
Boeing
American Telephone & Telegraph
Germany
ROC Taiwan Fund
Wilshire Associates
NYSE
Standard & Poor
S&p
Americans see economy in recession amid wartime shock
A New York Times CBS poll of 1,422 Americans taken Aug 16–19 shows six in ten people believe the nation is in a recession and 55 percent say the economy is getting worse. Regional, racial, and gender differences emerge as confidence slides despite Bush’s steady approval.
MENTIONED IN THIS ARTICLE
New York
New York Times-Cbs News
Richard T. Curtain
University of Michigan
Times-Cbs
Bush
the Times
Economy slows as gulf tensions loom over growth
The Commerce Department reports the U.S. gross national product rose just 1.2 percent in the April through June quarter, marking five straight quarters of weak expansion. Trade deficits widened modestly, and business investment and housing fell, while inventories and government spending offered the only upside. Economists warn recession risks grow with Middle East tensions and rising oil prices. The Bush administration cites balance in revisions and urges rate cuts to support growth.
MENTIONED IN THIS ARTICLE
Washington
U.S
Commerce Department
Bob Diely
Northern Trust Co
Chicago
Middle East
Allen Sinai
Boston Co
Bruce Steinberg
Merrill Lynch
New York
Sion
Bush
Federal Reserve
United Telephone contract expires in Bristol area
United Telephone Co. contract covering 674 union workers in southwest Virginia and northeast Tennessee expired Friday. Workers will stay at work through the weekend as they seek federal mediation. Local 3871 says the latest offer is inadequate, citing job titles descriptions and health care. Negotiations resume after mediation service involvement with updates as talks continue.
MENTIONED IN THIS ARTICLE
Bristol, Va
United Telephone Co
Virginia
Tennessee
Communications Workers of America Local 3871
Federal Mediation and Conciliation Service
Dollar Climbs as Gulf Tension Fears Rise
The dollar rose on Friday amid Middle East tensions and a volatile currency market. Gold rose to 415 an ounce on the New York Commodities Exchange, while Republic National Bank quoted 414 an ounce. Analysts noted a knee-jerk dollar bid despite soft profits data, with experts citing geopolitical risks and mixed fundamentals.
MENTIONED IN THIS ARTICLE
New York
Persian Gulf
Commodity Exchange
Republic National Bank
Europe
United States
Middle East
Ean
Kuwait
U.S
Earl Johnson
Harris Trust and Savings Bank
Chicago
Also Mentioned on This Page
Greg Jordan
The
Daily Telegraph
Wheat First Securities, Inc
York Stock Exchange
Va Amrich
McDer
Merck
MMM
Ye Amoco
Mobi
Aurich
A Navistr
BellAds
Niamp
Nynex
BethSt
PhilaEl
Ekodak
Scott P
Exxon
Sears
FMC
Be Wat
SwBell
Gorich
Ye William
Goodyr
WinDix
Giatpc
Am el Pwr
E Dom Res
Grumman
Deere
Mesa So Mo Morris
Shoneys
Allied Sgni Hel Myers Signet
Bk Amer Brands
Digg Comm
Hercules
Mesa Roy
Sony
Amerada
Dinpips Hous Ind
Mtchl Enrgy
So Co
Amer
Hm Pd
Disney Humana
Mylan
Sovran
Amer Family
Det Ed
Ingersoll
Nalco Chem
Sashne M
Ashland Oil
Duke Pwr
John Jn
Nik Sthn
Syntex
Avon
Kelly Oil
Naccolnd
Cent Air
Atlas Corp
Estra G&f
Kerr-McGee
Ohio Ed
Transamer
Balg&e
Eme Radio
Unisys
Anh Busch
Foster
Carop&e
Genetech
MFS Mtr
Westwise
Ga Pacific
Manor Care
Quak St O
Whittaker Costal Corp
MAPCO
Reebok
Indsa Col Gas
Gerb
Thorm&Knw
Grace WR
McDonalds
Rockwell
Valero
Crane
GrSt
Cyprus
Sara Lee
Thu
First Carolina
First
HB Fuller
Securities Inc
Inter-Dealer
Financial Corp
Key Centurion
Ladd Furniture
MCI Communications
Nash-Finch Co
Ask Nat'l Bank of Commerce
Apple
Wall Street
American Stock Exchange
Wuble
Tnerce
United Telephone Worker
Stephen Flanagan
Manufacturers Hanover Trust Co
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