Market Briefs Mixed Close as Inflation Hints Suppress Gains
Stocks closed mixed after a volatile session with the Dow down 14.93 at 7672.79 amid inflation worry. On the NYSE 7 to 6 gainers lead decliners in 561.58 million shares traded. Eastern Iowa names show 14 up, 26 down, 3 unchanged. Key moves include Procter & Gamble up 1 15/16, Wal Mart up 1%, Mercantile and others slipping. Also, Shazam trims fees by 750000 for participating banks, and Iowa grants 300000 for JTPA Microenterprise aid. Short-term Treasuries rose with three-month bills at 5.12% and six-month at 5.14% amid a 5.26% and 5.35% implied yield, while the one-year rate stayed at 5.65%.
MENTIONED IN THIS ARTICLE
Dow Jones
New York Stock Exchange
Iowa
Procter & Gamble
Penwest
Wal-Mart
HON Industries
Mercantile
Eastman Kodak
Firstar
Gillette
United Technologies
Rockwell
Weyerhaeuser
Treasury
Treasury Department
Federal Reserve
Philip Morrs
At&t Corps
American Stock Exchange
SPOR
Intel
Cisco
Amex
Ind
Standard & Poor's Finance
Indust
Se Insurance
Transpt
Associated Press
Farmers yield to soybeans amid land shifts in Iowa
Iowa farmers boosted soybean acres by 400 000 amid a record 12.2 million corn acres planted nationwide and 80 2 million corn acres. The expansion comes as Conservation Reserve Program land idled under 10 year contracts releases acres, reflecting the Freedom to Farm policy and rising soybean prices with June futures at 8 22 a bushel.
MENTIONED IN THIS ARTICLE
Marlene Lucas
Dick Loewry
AgResauce Inc
Chicago Board of Trade
Don Roose
U.S. Commodities Inc
West Des Moines
Iowa
Iowa Crops & Weather Report
MidAmerican Electric Rates Fall After Iowa Board Approval
The Iowa Utilities Board approved MidAmerican Energy Co price reductions after settlement talks with consumer groups. Des Moines firm reports an immediate $10 million residential cut plus $8.5 million in November, totaling over $18.5 million in savings since the merger. Eastern Iowa residents save about 5 percent annually, with other regions seeing smaller declines. A June 1996 plan aims to stabilize prices through 2000 and prevent increases unless earnings drop. An additional $5 million residential cut is slated for June 1.
MENTIONED IN THIS ARTICLE
George C. Ford
MidAmerican Energy Co
Iowa Utilities Board
Des Moines
Eastern Iowa
Central
Southwest
Northern Iowa
MidAmerican Energy
The
Utilities Board
Iowa Office of Consumer Advocate
Iowa Energy Consumers
US West pushes tougher penalties for slamming practice
US West asks the FCC to impose stiffer penalties on firms that switch customers to new long distance service without consent. The proposal seeks quarterly slamming complaint reports, higher fines at 5 and 10 percent thresholds, revenue reimbursement for the victimized carrier, and stricter verification for new providers.
MENTIONED IN THIS ARTICLE
Denver
US West Communications
West proposal seeks FCC rules on slamming penalties
The US West proposal urges the FCC to require quarterly reporting and impose fines of 100 dollars per violation when slamming complaints exceed five percent of new long distance customers and 250 dollars per violation when complaints exceed ten percent. It also calls for enforcing the 1996 Telecommunications Act provision that slamming firms reimburse the customer’s long distance carrier for lost revenues.
MENTIONED IN THIS ARTICLE
US West
Federal Communications Commission
FCC
U.S. Net Debtor Position Rises to 871 Billion
The Commerce Department reports the United States’ net debtor increased 27 percent to 871 billion as foreigners hold 4.59 trillion in U.S. assets versus 3.72 trillion Americans’ overseas assets. Economist Allen Sinai cites lack of saving as a key issue. Currency value changes also contribute about one eighth of the rise.
MENTIONED IN THIS ARTICLE
America
Commerce Department
United State
U.S
Allen Sinai
New York
IBP plans to raise hogs to supply its packing plants
IBP Inc announced to analysts that it will start raising its own hogs to feed its Iowa and other Corn Belt plants, initially by contracting with farmers and possibly moving to in-house farming. The plan, seen as a market share move, could boost plant expansion and squeeze rival Smithfield Foods.
MENTIONED IN THIS ARTICLE
Des Moines
IBP Inc
Iowa
IBP
Daii Bosworth Inc
Dain Bosworth
Bonnie Wittenburg
Council Bluffs
Columbus Junction
Wittenburg
Smithfield Foods Inc
Smithfield
John Morrell & Co
Sioux City
Sioux Falls
D.D
Dakota City
Neb
Also Mentioned on This Page
Shazam
U.S. Department of Labor
Iowa Workforce Development Department
IWD
Institute For Social and Economic Development
ISED
Iowa City
JTPA
Iowa Agricultural Statistics Gazette
Washington
United States
Home Sweet Home
Greene Square Park
Ping
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