Bankers Trust Cuts Prime Rate to 10 Percent
Bankers Trust trimmed its prime lending rate to 10 percent the first cut since mid January, signaling a broader downtrend in money markets. Analysts note reduced costs across money market instruments and expect potential downstream effects on consumer loan rates.
MENTIONED IN THIS ARTICLE
New York
Bankers Trust
Livia Asher
First Boston Corp
Thomas Parisi
Robert Heady
Bank Rate Monitor
Savings and Loan
Texas Commerce Bank-Austin
Oil imports drop 10.6 percent in April
The American Petroleum Institute reported April imports of oil and petroleum products averaged 4.601 million barrels per day, down 10.6 percent from April of the previous year as domestic consumption slipped 1.8 percent to about 15.2 million barrels daily.
MENTIONED IN THIS ARTICLE
New York
U.S
American Petroleum Institute
Oil Industry Group
Pickens Talks With Unocal in Bid to Settle Takeover
Texas oilman T Boone Pickens Jr and Mesa Partners II held two days of talks with Unocal Corp to settle the three month takeover attempt. The discussions occurred Tuesday and Wednesday at Unocal's request with no further negotiations scheduled.
MENTIONED IN THIS ARTICLE
Los Angeles
Texas
T. Boone Pickens Jr
Unocal Corp
Pickens
Georgia's 10 S and L firms plan federal insured status
Georgia officials say ten privately insured savings and loan associations formed in seven years will convert to federally insured banks or S&Ls. They hold $101 million in assets and are backed by the Georgia Credit Union Deposit Insurance Corp. Eight plan to convert to FDIC backed state banks and two to FSLIC affiliated S&Ls.
MENTIONED IN THIS ARTICLE
Atlanta
Georgia
S&ls
Georgia Credit Union Deposit Insurance Corp
Federal Deposit Insurance Corp
Federal Savings and Loan Insurance Corp
Prime rate cut lifts stocks but merger weighs Allied Signal
A major bank cut in the prime rate helped lift the NYSE market with the Dow edging higher to 1,273.52 while Allied Corp fell 3 percent on plans to merge with Signal Cos. Signal slid, and Sonat and NCR posted gains as the market finished near session highs.
MENTIONED IN THIS ARTICLE
New York
Allied Corp
New York Stock Exchange
NYSE
Wilshire Associates
American Stock Exchange
Dow Jones
Allied
Signal Cos
Signal
Allied Signal
Sonat
NCR
Western Union
Standard & Poor
S&p
Progress reported on United contract
Federal mediator says both sides show progress toward a contract as an early strike deadline nears. The main issue remains United Airlines pay scale for new pilots versus veterans, with the pilots union opposing a two tier system that could create cockpit animosity among about 5,300 pilots.
MENTIONED IN THIS ARTICLE
Boston
United Airlines
Storer Communications Delays Board Election Result
Storer Communications Inc says the final results of its board of directors election will not be learned until May 29. The proxy outcome was to be announced at the reconvened annual meeting, but that announcement is delayed.
MENTIONED IN THIS ARTICLE
Miami
Storer Communications Inc
Industry production and inventories fall in April
U S industrial production declined 0.2 percent in April as demand weakened amid foreign competition and a weaker dollar. Inventories at retailers and manufacturers fell 0.1 percent in March, the first inventory drop in two years, with durable goods and autos leading the decline.
MENTIONED IN THIS ARTICLE
Washington
U.S
Federal Reserve Board
Commerce Department
Michael Evans
Evans Economics
Fed
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Big Bank
MONEY
Thrifts
United
Helen Witt
The
Federal Mediation Board
A.P.A
Saeed UM
BUICK
Cadillac
Oldsmobile
S.E
Cedar Rapids
Radio Shack
First Ave
Downtown
Main Bank
Second Avenue
Third Street
S.E. Noelridge Park
Council Street
N.E. Amana
Amana
Iowa
FDIC
Merchants National Bank Ff
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