Consumers adapt to electronic banking revolution
New York reports a sweeping shift toward electronic funds transfers EFT changing how Americans bank pay bills and transfer money while sparking debate over success risks and consumer adaptation. Banks credit unions and savings institutions race to deploy terminals and cards, yet outages costs and regulatory questions threaten broad adoption.
MENTIONED IN THIS ARTICLE
New York
Electronics
Grand Central Terminal
Chase Manhattan Bank
Donald Hollis
Chase
Santa Barbara
Calif
David Smith
Glendale Federal Savings and Loan Association
Fresh Meadows
Queens
Citi
Congress
Business Week Magazine
Master Charge
Visa
Ericard
National Commission On Eft
Ralph Nader
Consumer Advocate
Gold dips as dollar softens on European markets
Gold prices eased slightly on Monday in London bullion markets while the dollar fell against most major currencies. British sterling closed at 1.7173 per dollar, and bullion traded near 144.00 dollars per ounce. Zurich’s gold market was closed for a holiday.
MENTIONED IN THIS ARTICLE
London
Europe
Zurich
Help for poorer nations takes time says Vance
In Paris at an international conference Secretary of State Cyrus Vance urged the United States to play an active role in narrowing the gap between rich and poor nations but cautioned changes will take time and require painful adjustments by all. He supported continuing North South dialogue and hinted at shifting some conference work to the United Nations and World Bank while pledging a US contribution toward a British led $1 billion program to aid the poorest nations.
MENTIONED IN THIS ARTICLE
Poppen
Bout ‘Alen & Hamilton
Betsey Hansell
Detroit
EFT
Imean
Paris
Cyrus Vance
Kennett
Vance
Washington
State Department
United Nations
World Bank
United States
Allan MacEachen
U.S
Banks to require sale of stock to Saudi citizens
Banks ordered to sell stock to Saudi citizens within a year, with a majority stake in their Saudi branches. The decree, approved by the cabinet, affects First National City and nine other banks with HQs in Western Europe, the Middle East, and Pakistan. Saudi officials said talks with foreign banks continue as Aramco stake negotiations proceed. London shares drifted lower on Monday amid market uncertainty and BP selling.
MENTIONED IN THIS ARTICLE
Opera Arabia
Europe
Middle East
Pakistan
Jidda
Dutch Algemene
Public employees face uphill push for higher pay
Los Angeles police and firemen will see base pay rise to 20.58 dollars under a long standing wage formula, while a coalition of six taxpayers' associations and two city council members push to repeal the rule. Across the nation cities face tighter budgets and tempered wage settlements as New York’s fiscal crisis influences local rhetoric. Experts cite slower public wage growth, education budget strains, and efforts to improve productivity amid rising private sector gaps.
MENTIONED IN THIS ARTICLE
Los Angeles
Fire- Rien
Taxpayers
New York
Harry H. Wellington
Yale University School of Law
Laster Tyra
Houston Professional Firefighters Association
Houston
New York City
California
Detroit
Boston
Washington
Los Angeles County
Conner Copple
Office of Budget and Management
D.C
Robert ©. Holland
Wiliam Hamilton
The
American
Also Mentioned on This Page
Miller Super Value
Francis Curran
American Bankers Association
Barry F. Sullivan
Chase Manhattan
Loa
Kingdom
Aramco
Standard Oi
Exxon
Mobil
Texaco
London Stock Exchange
Unilever
Vickers
BAT
Imperial Chemical Industries
Reed
Financial Times
Sunbelt
Boards of Education
Thomas Cook
Detroit Federation of Teachers
Mark Alliny
Wellington
Yale Law Faculty
Ralph Winter Jr
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