Markets wobble as Greenspan spooks investors on inflation
The Dow fell 55.03 points to 6983.18 while decliners outpaced advancers on the NYSE in heavy volume. Equitable of Iowa rose 1 percent to 53, Procter & Gamble dropped, and Ford recalled 27553 Expeditions for weld issues. 3Com to buy U S Robotics for 6.6 billion.
MENTIONED IN THIS ARTICLE
Alan Greenspan
Federal Reserve
Dow
New York Stock Exchange
Iowa
Equitable of
Procter & Gamble
Gillette
Apac TeleServices
Dow Jones
NYSE
Greenspan warns Wall Street on excessive optimism and inflation risk
Federal Reserve Chairman Alan Greenspan told Congress that markets show excessive optimism and the Fed could raise rates to fight inflation. He warned investors, noted 15 years of growth since the last recession, and cautioned that rising stock and bond prices can fuel inflation and that bubbles burst leading to recessions.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Alan Greenspan
Wall Street
Fed
Greenspan
McDonald’s plans Campaign 55 price cuts for Big Macs
McDonald’s will ask about 2,700 U.S. franchisees to slash prices to 55 cents for Big Macs and other signatures under Campaign 55. The plan aims to reverse six quarters of declining same store sales and will require a large drink and fries with the discount.
MENTIONED IN THIS ARTICLE
Chicago
McDonald's Corp
U.S
McDonald’s
Dick Adams
Armey urges simple tax code to fix IRS woes
House Majority Leader Dick Armey argues Americans waste 5.4 billion hours and 200 billion dollars yearly on taxes. He backs broad reform like a flat tax to improve IRS service amid a failed 4 billion dollar computer project and disputes over taxpayer rights at a congressional hearing.
MENTIONED IN THIS ARTICLE
Washington
Dick Armey
IRS
Armey
Texas
Taxpayer Advocate
Bob Kerrey
D-Neb
Lee Monks
ATM network launches postage stamp sales
MasterCard International will offer postage stamps via Cirrus ATMs at about 315,000 locations worldwide. Beginning in the second quarter, Cirrus card holders can buy stamps through an ATM transaction with funds deducted from their accounts. The system may also dispense prepaid calling cards traveler's checks and theater tickets.
MENTIONED IN THIS ARTICLE
New York
MasterCard International
MasterCard
Cirrus
Principal Group earns $526 million in 1996 up 53 percent
Des Moines based Principal Financial Group reports record earnings of $526 million in 1996, up 53 percent from 1995, driven by gains in investments and growth in investment management. Revenue rises 4 percent to $9.1 billion as HMOs and life insurance face headwinds.
MENTIONED IN THIS ARTICLE
DES Moines
Des Moines-based
Insures
Anda Financial
David Drury
Drury
Don't Overpay Tax On Capital Gains From Funds
Investors with only capital gains distributions from mutual funds can report them on Form 1040 front page. Those in higher than 28 percent bracket should use the Capital Gain Tax Worksheet to ensure long term gains are taxed no higher than 28 percent. Without the worksheet, gains may be taxed up to 39.6 percent.
MENTIONED IN THIS ARTICLE
Knight-Ridder News Service
IRS
Also Mentioned on This Page
Civco
Blue Chip
Civco Medical Instruments of
Kalona
Circo
Victor Wedel
MassMutual
U.S. Chamber of Commerce
Nation’s Business Magazine
3Com Corp
U.S. Robotics
Ford
Ford Motor Co
Ford Expeditions
Karen Shaughnessy
Treasury
Discount Brokers
Congress
Clinton
Senate Banking Committee
Senate
Roman
Cross Plains
Wis
Wisconsin
al Ott
R-Forest Junction
State Capitol
Madison
Assembly
National Cheese Exchange
Republicans’ Caucus
Lindale Mall
Jarves
Commercial & Industrial Pay Electric Company
Fifth Avenue
Comiius Credit Union
NCAA
42Nd Street N.E
14Th Avenue SE
1St Avenue S.F
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