Stock market slips as investors curb risk ahead of summit
New York stocks fell sharply on Friday as investors grew cautious before a weekend summit on reviving Asian economies. The Dow dropped about 100 points to 8712 after a volatile session, with banks hit by a Moody's downgrade. Goldman Sachs aided trading while Microsoft rose after an upbeat forecast.
MENTIONED IN THIS ARTICLE
New York
Dow
U.S
U.S. Federal Reserve
Goldman Sachs
Microsoft
Fed
Japan
Asia
Moody’s Investors Services
Credit Bank of Japan Ltd
York
AIRCO
Elder-Beerman to buy Stone & Thomas to expand stores
Elder-Beerman Stores Corp. will acquire Stone & Thomas for 38 million dollars, adding 19 stores and converting most branches to Elder-Beerman. The deal expands into West Virginia and nearby states, with store closings in Buckhannon and Elm Grove and plans to open a Pennsylvania outlet this summer.
MENTIONED IN THIS ARTICLE
Dayton, Ohio
Elder- Beerman Stores Corp
Stone & Thomas
Elder-Beerman
Wheeling
W.va
West Virginia
Virginia
Ohio
Kentucky
Elder
Beerman
Buckhannon
Elm Grove
W.S. Jones Jr
Charleston
Dayton
Nitro
Inte
Fairborn
Pennsylvania
Indiana
Illinois
Michigan
Wisconsin
Kurt Barnard
Barnard
U.S. press urges Japan to fix bad loans crisis
U S officials press Japan to clean up 563 billion dollars of bad debts and reform banking to lift the economy. Deputy Treasury Secretary Summers and Finance Minister Matsunaga held talks in Tokyo urging openness accountability and consumer focus amid low polling for Prime Minister Hashimoto and looming elections. The yen rally remains fragile without decisive structural moves.
MENTIONED IN THIS ARTICLE
Tokyo
United States
Japan
U.S
Treasury
Lawrence Summers
Hikaru Matsunaga
Moody’s Investors Services
Credit Bank of Japan Ltd
Matsunaga
Swiss banks offer $600 million in Holocaust assets settlement
Swiss banks Credit Suisse Swiss Bank Corp and Union Bank of Switzerland proposed a $600 million settlement for dormant Holocaust accounts. Jewish leaders called the offer insulting and humiliating as plaintiffs and restitution groups press for fuller repayment of looted assets from victims and heirs. The banks cited a top offer while critics note the sum in today’s value exceeds $4 billion in recovered assets.
MENTIONED IN THIS ARTICLE
Zurich
Switzerland
Credit Suisse
Swiss Bank Corp
Union Bank of Switzerland
Edward Fagan
New York
World Jewish Restitution Organization
Europe
Avraham Burg
APTV
Jerusalem
Burg
Yoram Dori
Associated Press
Los Angeles
Deal near on shifting burden of proof in IRS overhaul bill
Lawmakers announce tentative agreement on a broad IRS restructuring bill. key items include shifting the burden of proof to the IRS in civil cases and expanding innocent spouse protections, with oversight strengthened and taxpayer rights widened. final votes expected next week.
MENTIONED IN THIS ARTICLE
Ashington
House
Senate
Internal Revenue Service
IRS
William Roth Jr
Rdel
Senate Finance Committee
Roth
Bill Archer
R-Texas
Ways and Means
Tax Agency
Archer
Bob Kerrey
D-Neb
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Ron Campbell
AFLAC
Ameritech
At&t Corp
AM. Water Works
Anheuser-Busch
Apple Computer
IND. Tech
Ashland Coal Inc
Ashland Oil Inc
Atlantic Richfield
Baker-Hughes Inc
Baltimore Gas & EL
Bell Atlantic
Bellsouth Corp
Bethlehem Steel
Boeing CO
CBS Corp
Cabot Oil & Gas
Carolina Power
Chevron Corp
Chrysler Corp
Chubb Corp
Citizens Utilities
Coca-Cola CO
Columbia Gas Sys
Columbia Healthcare
CON
Nat'l Gas
Corning Inc
Crestar Financial
DOW Chemical
Dupont
Eastern Ent
Eastman Kodak
Emerson Electric
Ethyl Corp
Exxon Corp
First Union Corp
Virginia Bank
Flowers Industries
FMC Corp
Food Lion Inc
Ford Motor CO
GEN, Electric CO
GEN. Motors Corp
GTE Corp
Georgia Pacific
Gillette CO
Glaxo Holdings
Goodyear Tire
Hercules Inc
Humana Corp
IBM Corp
Ingersoll-Rand
Intel Corporation
K-Mart Corp
Kroger CO
Lowe's CO
Lucent Technologies
Mapco Inc
McDonald's Corp
Merck & CO. Inc
Microsoft Corp
Mobil Corp
Monsanto CO
Mylan Labs, Inc
Nash Finch CO
Nationsbank Corp
Navistar Int'l
Nike, Inc
Norfolk Southern
Occidental Pete
ONE Valley Bank
J.C. Penney CO
Pennzoil CO
Pepsico Inc
Phila. Electric
Philip Morris Cos
Phillips Petroleum
Pittston Brinks
Pittston Burlington
Pittston Minerals
Potomac Elec
PWR
Praxair, Inc
Pulaski Furniture
Reebok Int'l
REX Stores Corp
Reynolds Metals
Rite Aid Corp
RJR Nabisco Hldg
Rockwell Int'l
Sara Lee Corp
Sears Roebuck
Sherwin Williams
Shoney's Inc
Southern CO
Tenneco Inc
Texaco Inc
TRI Continental
Union Carbide
Union Pacific
Unisys Corp
Universal Corp
Usair Group
Usx-Marathon Oil
USX
U.S. Steel
Wal-Mart Stores
Walt Disney CO
Wendy's Nat'l
Westwaco Corp
Alley Nat'l Gases
Xerox Corp
DOW Jones
Dino
Disc Trade
Sument
American Electric Power
Lincoln
Cabinet Co
Pearisburg
Wvlottery.com
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