Colombia Devalues Peso To Bolster Economy Plan
Colombia announces a major devaluation to revive a crisis hit economy. The central bank widens the peso’s trading band and allows a fall toward 2,046 per dollar, aiming to curb speculative attacks. Finance Minister Restrepo cites drain on reserves as a risk and a plan to trim public spending follows.
MENTIONED IN THIS ARTICLE
Bogota
Colombia
Central Bank of the Republic
Juan Camilo Restrepo
Confidence lifts stocks on Fed rate hopes
Shares rise as traders expect a modest 0.25 point rate hike by the Fed this week. Dow up 102.59 to 10,655.15, S&P 500 +16.04, Nasdaq +49.79. Volume climbs to 641.14 million on NYSE as software and Internet stocks lead. consumers show spending gains, raising inflation fears.
MENTIONED IN THIS ARTICLE
Ron Campbell
AFLAC
Ameritech
At&t Corp
IND. Tech
Ashland Coal Inc
Ashland Oil Inc
Atlantic Richfield
Baker-Hughes Inc
Baltimore Gas & EL
Bankamerica
Bell Atlantic
Bellsouth Corp
Bethlehem Steel
Boeing CO
CBS Corp
Cabot Oil & Gas
Carolina Power
Chevron Corp
Chubb Corp
Citizens Utilities
Coca-Cola CO
Columbia Gas Sys
Columbia Healthcare
CON
Nat'l Gas
Corning Inc
Suntrust Banks
CSX Corp
CVS Corp
Daimlerchrysler AG
Detroit Edison
Dominion Res
DOW Chemical
Dupont
Eastern Ent
Eastman Kodak
Emerson Electric
Ethyl Corp
Exxon Corp
Food Lion Inc
Ford Motor CO
GEN. Electric CO
GEN. Motors Corp
GTE
Georgia Pacific
Gillette
GLAXO
Goodyear Tire
Hercules Inc
Humana Corp
IBM Corp
Ingersoll-Rand
I S
Intel Corporation
K-Mart Corp
Kroger CO
Lowe's Cos
Lucent Technologies
McDonald's Corp
Merck & CO. Inc
Microsoft Corp
Mobil Corp
Monsanto CO
Mylan Labs, Inc
Nash Finch CO
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
Pulask Furniture
Reebok Int'l
REX Stores Corp
Reynolds Metals
Rite Aid Corp
RJ Reynolds
Rockwell Int'l
Sara Lee Corp
Sears Roebuck
Sherwin Williams
Shoney’s Inc
Southern CO
Tenneco Inc
Texaco Inc
TRI Continental
Union Carbide
Usair Group
Marathon Oil
USX
U.S. Steel
Wal-Mart
Walt Disney CO
Wendy's Int'l
Westvaco Corp
Williams Cos
Valley Nat'l Gases
Xerox Corp
DOW Jones
New York
Federal Reserve
Standard & Poor
Fed
New York Stock Exchange
Alfred E. Goldman
A.G. Edwards & Sons Inc
St. Louis
John Lynch
IJC Wachovia
Charlotte
N.C
Dow
U.S
J.P. Morgan
American Express
Caterpillar
Yahoo
Microsoft
Savings slide undercuts incomes as spending rises
The May savings rate slipped to a record minus 1.2 percent while personal income rose 0.4 percent and consumer spending increased 0.6 percent, offering the Fed arguments to lift rates to curb inflation. Economists say growth remains robust, with potential for further rate hikes this year.
MENTIONED IN THIS ARTICLE
Ashington
Fed
Commerce Department
Federal Reserve
Paul Kasrel
Northern Trust Co
Chicago
First Union
David Orr
Nick Leeson to leave prison after nearly four years
British trader Nick Leeson, whose rogue bets destroyed Barings Bank in 1995, is set to leave Singapore's Changi Prison on Saturday after serving almost four years. Harry's Bar patrons recall the era of flashy traders and large cash burns as Asia's early 1990s boom cooled.
MENTIONED IN THIS ARTICLE
Singapore
Asia
Nick Leeson
Harry
Barings
Britain
Leeson
Changi
Nick
Margaret Woodward
Woodward
Tokyo
Kobe
Bernhard Eschweiler
West Virginia business leaders question tax overhaul
Charleston AP report says state business leaders doubt the proposed tax overhaul. Gov Underwood's commission would replace 12 business taxes with a single broad-based levy. The state chamber surveyed its 3000 members for input amid concerns about rates and potential net tax increases for some entities.
MENTIONED IN THIS ARTICLE
Charleston
Chamber
Steve Roberts
State Chamber of Commerce
Cecil Underwood
Commission On Fair Taxation
Commission
Roberts
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