Jobless rate stagnant as May adds service jobs
May payrolls show 345000 new service jobs while manufacturing loses 28000. Unemployment held at 7.3 percent for a fourth straight month, with 8.4 million unemployed and 106.9 million employed. Analysts warn of diverging paths as service growth masks factory weakness.
MENTIONED IN THIS ARTICLE
Pete Yost
Washington
Labor Department
Joe Carson
Merrill Lynch Co
John M. Albertine
American Business Conference
Groups urge Congress to dump Reagan tax plan
Liberal groups urge scrap of the Reagan tax plan, praising poverty exemptions but calling for a complete reform. They argue the proposal benefits corporations and the wealthy, lacks real reform, and would reduce long term revenue while preserving tax shelters. They compare it unfavorably to Treasury Department's prior plan.
MENTIONED IN THIS ARTICLE
Congress
Washington
Reagan
Common Cause
Citizens For Tax Justice
Public Citizen
House
Ways and Means
Treasury Department
The
National Taxpayers Union
Robert S. McIntyre
U.S
McIntyre
Joseph Goffman
Ralph Nader
Public Citizen Group
Goffman
Floyd Haskell
Dcolo
Big banks face FDIC premiums on foreign deposits too
FDIC director Irvine Sprague urged that five of the 10 largest U.S. banks start paying federal deposit insurance on foreign deposits. He cited Citibank and Bank of America, noting large foreign deposits distort premiums and that five banks have more overseas than domestic deposits, totaling $222 billion abroad versus $226 billion domestically.
MENTIONED IN THIS ARTICLE
Citibank
Sprague
U.S
FDIC
Chase Manhattan
Morgan Guaranty
Bankers Trust Co
First Chicago
Fed intervenes in currency markets in February and March
The United States intervened on six occasions in the currency markets during February and March, buying 580.2 million dollars of West German marks, Japanese yen and British pounds. The New York Fed said the operation was coordinated with foreign central banks to counter disorderly markets and noted it was the largest quarterly intervention since early 1981.
MENTIONED IN THIS ARTICLE
New York
United States
Federal Reserve Bank of New York
U.S
New York Fed
Sam Y. Cross
Reagan
Marriott ends talks to buy Howard Johnson Co
Marriott Corp says it has discontinued talks to purchase Howard Johnson Co, the restaurant and hotel chain long courted by Imperial Group of England. Marriott gave no details on why the talks ended or further comments.
MENTIONED IN THIS ARTICLE
Washington
Marriott Corp
Howard Johnson Co
Imperial Group of
England
Howard Johnson's
Marriott
Auto production up in U.S. plants this week
U S automakers planned to assemble 173 325 cars in U S factories this week, Ward s Automotive Reports says. This beat last week s 142 873 and the year ago week s 162 665. Truck production for the week totaled 79 006, up from 61 199 and 68 277 a year earlier.
MENTIONED IN THIS ARTICLE
Detroit
U.S
Ward
Automotive Reports
Trade Journal
Market slips as rates rise after brief rally
The Dow drops 10.86 to 1316.42 as rates climb and long term bonds fall. Unemployment holds at 7.3 percent in May while job gains appear solid. TWA gains on talks of bids, Resorts slips amid takeover rumors. Tech shares retreat after a rally with IBM, Digital, Burroughs easing, Sperry up on speculation.
MENTIONED IN THIS ARTICLE
New York
Labor Department
Treasury
Trans World Airlines
Resorts International
American Stock Exchange
Resorts
TWA
Carl Icahn
International Business
Digital Equipment
Burroughs
Hewlett-Packard
Sperry
Shell Oil Joins Royal Dutch Shell in $5.7 Billion Merger
Royal Dutch-Shell completes the acquisition creating SPNV Holdings by merging Shell Oil into its subsidiary. The deal follows a previous $1 billion purchase of half of Occidental Petroleum assets in Colombia. Shell’s HQ stays in Houston and management remains under Royal Dutch-Shell control.
MENTIONED IN THIS ARTICLE
Shell Oil
Royal Dutch-Shell
New York
Shell Oil Co
Royal Dutch- Shell
Secretary of State of
Delaware
Shell
Spnv Holdings Inc
Occidental Petroleum Corp
Colombia
Sanford Margoshes
Shearson Lehman Brothers Inc
Royal Dutch Shell
U.S
Margoshes
United States
Royal Dutch
Houston
Also Mentioned on This Page
Janet L. Norwood
Commissioner of Labor Statistics
Norwood
Joint Economic Committee
Steel
Tobac
White House
Larry Speakes
Michael Evans
Robert Ortner
Commerce Department
Robert Gough
Data Resources Inc
Fed
Money Briefs Eastern
Miami
Eastern Airlines
Eastern
Acm
U.S Dept. of
Labor
Belridge Oil Co
Chevron Corp
Gulf Corp
Savings and Loan Association
S&l
A. Ellen Marshall
California
S&ls
Los Angeles Times
Iowa
In Investment Ct
NTS
Money Market
Banc Lowa
FSLIC
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