Oil price cuts widen spike as OPEC eyes new benchmark
Chevron and Gulf lower prices matching Texaco while Exxon holds at 29 top crude. OPEC ministers reconvene January 28 in Geneva to review price and production strategy amid falling markets. Analysts see further declines as market competition increases.
MENTIONED IN THIS ARTICLE
Steven P. Rosenfeld
U.S
OPEC
Chevron Corp
Gulf Corp
Texaco Inc
West Texas
Organization of Petroleum Exporting Countries
Fliakos
Hemisphere
AT&T seeks tariff restructuring could raise private line costs
AT&T asked the FCC for permission to restructure some business rates on Feb 15, a move likely to raise charges. The request covers private lines used to transmit radio and TV programs photos data and other communications and seeks a waiver of the 45 day tariff review. The company aims to pass costs to customers when local phone companies raise charges for connecting AT&T lines to customer locations.
MENTIONED IN THIS ARTICLE
Washington
American Telephone & Telegraph Co
Federal Communications Commission
At&t
Pound Falls to Record Lows Against Dollar as Banks Hike Rates
The British pound slid below 1.12 dollars amid a volatile session. Gold fluctuated around 300 dollars per ounce, finishing under that level. In London the pound hit a record low near 1.1230 before rebounding to about 1.1270.
MENTIONED IN THIS ARTICLE
New York
Republic National Bank
United States
London
Britain
Credit growth rebounds as consumers buy autos
Americans increased installment debt by 7.95 billion dollars in November, following a 6.28 billion rise in October. Analysts say the gains show a late year rebound in economic activity with stronger consumer buying, led by big ticket purchases like automobiles, despite the economy cooling earlier in the year.
MENTIONED IN THIS ARTICLE
Washington
Taiwan to sign pact with U S to curb counterfeits
Taiwan plans a pact with the United States to curb counterfeiting of American products by Taiwan makers. The Executive Yuan directed Foreign and Economic ministries to finalize details after U S accusations of patent violations and counterfeit computer parts, auto parts, leather goods, books, recordings and cosmetics.
MENTIONED IN THIS ARTICLE
Taipei
Taiwan
United States
U.S
Executive Yuan
Steel pact trims CM share of U S pipe imports
The United States reached an agreement with the European Common Market to cut its steel pipe and tube market share from 14.6 percent in 1984 to 7.6 percent in 1985 and 1986. An embargo had been imposed on European imports on November 29 after failed talks.
MENTIONED IN THIS ARTICLE
Washington
United States
U.S
Edelman offers $416 million to acquire rest of Datapoint
Asher B. Edelman, owner of 10.8 percent of Datapoint, proposed $416.3 million to buy all remaining stock at $23 a share. The offer was made to Kidder, Peabody & Co. and details will be filed with the SEC Monday.
MENTIONED IN THIS ARTICLE
NEW York
Asher B. Edelman
Datapoint Corp
Kidder, Peabody & Co
Datapoint
Edelman
Securities and Exchange Commission
Study group urges tougher bank rules and reforms
An administration study group drafts sweeping banking reforms including a sliding risk-based insurance premium, higher capital requirements, expanded disclosure, and stronger supervision. The report notes rising concentration among large banks and calls for modernizing deposit insurance to address potential risks to the system.
MENTIONED IN THIS ARTICLE
Washington
Cabinet Council On Economic Affairs
Treasury
James Baker III
Thomas J. Healey
AMC raises Jeep prices by about two hundred dollars
American Motors Corp. increased the suggested retail price of its Jeeps by an average of 200 dollars, about 1.2 percent, while optional Jeep engines rise from 75 to 100 dollars. Renault Alliance and Encore prices were cut last month. Jeep sales in 1984 outpace 1983, and AMC's Toledo plant runs at its highest since the Kaiser-Jeep purchase.
MENTIONED IN THIS ARTICLE
Switzerland
United States
Labor Department
U.S
West Texas Intermediate
Exxon Corp
No. 2
Mobil Corp
West Texas
Constantine Fliakos
Merrill Lynch
Dan Lundberg
Los Angeles
Price Information
Paul Mlotok
Salomon Brothers Inc
OPEC
First Boston Corp
Gulf Coast
Nihon Keizai Shimbum
Kuwait
Shiek Ali Khalifa al-Sabah
Detroit
American Motors Corp
AMC
Jeep
Toledo, Ohio
Kaiser-Jeep Corp
Paul Volcker
Fed
Volcker
Wall
International Business Machines
Eastman Kodak
General Electric
Merck
Great Northern Nekoosa
Exchange
Standard & Poor
S&p
GM recalls 9,300 X-cars including Buick Skylarks
General Motors recalls 9,300 1984 Buick Skylarks and Oldsmobile Omegas due to suspension bolts that may fracture and damage the rear brake hose. The issue stems from an out of specification bolt from one plant, part of ongoing X-car problems amid a government brake-safety case involving 1.1 million 1980 X-cars.
MENTIONED IN THIS ARTICLE
Detroit
General Motors Corp
Washington
Frontier declines comment on expected fourth quarter loss
Frontier Airlines would not comment on a Wall Street Journal report that its parent Frontier Holdings Inc. will post a larger fourth quarter loss than expected. The Journal cited a forecast of a 16 million dollar net loss for Q4, versus prior 10 million.
MENTIONED IN THIS ARTICLE
Denver
Frontier Airlines
The
Wall Street Journal
Frontier Holdings Inc
Frontier
Journal
Bob Schulman
Stocks close with mixed showing as week ends on gains
The Dow fell 5.41 to 1218.09 while the week posted a 33.13 point gain. American Telephone led declines, IBM and Kodak slipped, NASDAQ rose 1.51, S and P indices eased, trading volume fell on the NYSE.
MENTIONED IN THIS ARTICLE
NEW York
New York Stock Exchange
Also Mentioned on This Page
Chevron and Gulf
Source
Federal Highway Administration
Federal Reserve
American Stock Exchange
Wwoelkers
7Th Street
Cedar Rapids
Iowa
Money Market
NTS
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