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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 19, 2003
Page
12
The Dow rose 90.76 points to 9412.45 amid a quiet session after last week's outage. Gains from Lowe's and Toys R Us aided markets while the Nasdaq climbed 37.48 to 1739.48 as advancers outweighed decliners on the NYSE.
The American Bankruptcy Institute reports 12 months ending June 30 with 1,613,097 personal bankruptcy filings, an all time record up 10 percent from 1,466,105 a year earlier. Lowe’s Cos. Inc. posts a 28 percent quarterly earnings gain to 597 million dollars and 75 cents per share.
The Treasury Department auctioned 16 billion in three month bills at a 0.945 percent discount rate and 16 billion in six month bills at 1.035 percent. The implied yields were 0.964 percent for the three month and 1.057 percent for the six month bills, with prices near 9 976.10 and 9 947.70 respectively.
Mexico lodged three World Trade Organization complaints against U S duties on Mexican cement steel plate and oil pipes seeking a dispute panel. Ambassador Eduardo Perez Motta said refunds and rulings are needed while the United States expressed disappointment.
The Gazette reports pests like aphids rising in hot dry weather and farmers spraying fields. ISU extension says aphids cycle over 10 weeks from June to mid July with numbers easing by late August or September. Iowa topsoil moisture mostly short or very short and statewide rainfall near 1.46 inches in 23 weeks.
The U S Air Force awarded Rockwell Collins and three others 11 3 million for pre development studies on modernized military GPS user equipment MUE including security architecture Studies aim to identify requirements and risks for future MUE while two firms will compete for engineering development in mid 2005 Separately Jet Support Services inked a five year pact with Rockwell Collins for forward exchange support and avionics maintenance across its Collins equipped fleet.
Iowa energy analyst Jennifer Moehlmann says the blackout cut 5 percent of U.S. refining capacity and pushed Des Moines area gasoline up about 10 cents to 1.59 for ethanol blend and 1.63 for regular. Cedar Rapids sees unleaded as low as 1.44. Prices likely retreat to around 1.50 in a few weeks.
The European Union defends its GM crop sale rules as the United States with Argentina and Canada seek a WTO dispute panel to overturn what they call a trade barrier. The EU ended its five year moratorium but requires risk assessment and special labeling.
The Gazette asks readers to report news by calling the tip lines in Cedar Rapids and Iowa City or the toll free number. Citizens can share information on events, accidents, or other newsworthy occurrences for prompt coverage.
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