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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Apr 03, 1998
Page
15
Sony Corp chairman Norio Ohga warned that Japan’s economy is on the verge of collapse as the Bank of Japan released a pessimistic survey. He cautioned that continued decline would damage the global economy, noting Japan is the world’s second largest economy.
Key senators promised quick action on a popular House passed measure to aid credit unions as banks prepare for another pushback before it reaches President Clinton. The bipartisan bill, approved 411 to 8 in the House, would override a Supreme Court ruling and permit federally chartered unions to include multiple groups in membership, amid a months long lobbying clash between banks and the 70 million member credit union sector.
February policy minutes reveal some Federal Reserve policymakers drift toward higher rates while the FOMC unanimously kept the federal funds rate at 5.5 percent. Officials cited uncertainty over Asia driven turmoil and maintained a neutral stance on future moves.
After completing 1997 tax forms, audit your return for math errors missing entries transferred amounts and incorrect figures from 1099 forms. Look for mistakes IRS computers detect to avoid delayed refunds notices or extra taxes. Review scrutinized items like travel entertainment and home office deductions.
Dow Jones climbs to 8986.64 intraday strength as traders chase 9000 amid buoyant funds flows into mutuals and low rates. Nasdaq hits new high near 1853 while traders note program activity and focus on blue chip leaders. Paula Jones suit dismissal adds relief mood on street.
U.S. factories faced a 0.9 percent drop in orders in February led by a 32.8 percent plunge in aircraft demand. Labor data showed unemployment claims easing to 309,000 last week, with a four week average of 308,250, marking the eighth straight week under 310,000.
Lenexa based Rehab Designs of America opens a Lawrence clinic at 1112 W Sixth St extending a nationwide trend in aging population care. The firm, founded in 1990 and now one of the top three such firms, has grown through acquisitions to 54 centers and about 40 million in annual revenue.
As of Thursday close Farmer's Cooperative Assn South Elevator Wheat 3.03 soybeans 6.13 milo 3.66 corn 2.29 Midland Elevator Wheat 3.06 soybeans 6.18 milo 3.71 corn 2.34 North Elevator Wheat 3.06 soybeans 6.18 milo 3.71 corn 2.34 Dopee City Kansas feedlot sales Thursday active with steers and heifers about 1 higher. 21,500 steer and 23,500 heifer sales. week to date 75,500 head, 23,400 previously contracted. Slaughter prices for steers and heifers listed with dressed basis and end weights. Hog quotes from St Joseph and Omaha with price ranges for various weights. Denver and New York metal prices quoted for aluminum copper lead zinc tin gold silver mercury platinum.
Kansas economy shows improvement for the eighth straight month as the Kansas Index of Leading Economic Indicators sits at 159.80 in February up from 158.81 in January. New housing permits stock prices for Kansas firms and money supply expansions support growth while fewer hours worked in manufacturing dampen the index.
Agriculture Secretary Dan Glickman outlined steps to shield farmers from rising crop insurance costs and endorsed a Midwest plan to ease price downturns. He announced a switch to a new high risk classification system to moderate premiums, with pilots in northern Plains counties, and discussed funding options projected at 500 to 900 million dollars over five years.
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