Prime rate fades as banks lift to 6 3/4 percent
The prime rate, once a key market indicator, was raised to 6 3/4 percent by Bank One and followed by major banks, marking 2 boosts in four weeks. Analysts say the rate no longer signals economic shifts as lenders rely on varied, market-based rates like LIBOR and adjustable loans.
MENTIONED IN THIS ARTICLE
Bank One
Federal Reserve
Joseph Wahed
Wells Fargo Bank
David Berry
Keefe, Bruyette & Woods
New York
Cheyenne
Wyo
Los Angeles
Edward Mrkvicka Jr
Fed
Paul Volcker
London
Treasury chief flags rates slowing growth in economy
Treasury Secretary Lloyd Bentsen told Congress that recent rate hikes slow growth but did not directly attack the Fed. Sen. Dennis DeConcini pressed for tougher oversight after the Fed boosted short-term rates a third time this year, while Bentsen defended inflation restraint and noted concern over rising long-term rates.
MENTIONED IN THIS ARTICLE
Washington
Treasury
Lloyd Bentsen
Congress
Federal Reserve
Dennis DeConcini
Dariz
Senate Appropriations
Bentsen
Fed
Clinton
DeConcini
Midland Wheat Corn Milo and Soybean Prices in Local Markets
As of the morning, Midland Elevator lists Wheat at 3.32, Corn 2.55, Milo 4.10, and Soybeans 6.65. In St Joseph, hogs at 41.00-41.50 for 230-270 lb, 39.50-40.50 for 270-290 lb, with various weights showing steady to 50 cent declines. Dodge City reports steady slaughter steer prices, 1,200-1,300 lb ranges, and week totals of 59,900 head with 26 percent previously contracted. Nonferrous metals quote copper futures at .9100 per lb Cathode, lead 34c, zinc 43-47c, silver 5.25 per troy oz, gold near 373-372 per troy oz. Mercury at 180.00 per 76 lb flask, platinum around 399-401 per troy oz.
MENTIONED IN THIS ARTICLE
Midland Elevator
St. Joseph
St. Joseph, Mo
Dodge City
Crry
Kansas
Handy & Harman
Comex
New York
N.Y
Foreign exchange rates from Commerce Bank of Kansas City
Interbank rates as of 8 a.m. today with retail values possibly differing per currency unit. For more information and rates call Commerce Bank at 800 892 7100.
MENTIONED IN THIS ARTICLE
Commerce Bank of
Kansas City
N.A
U.S
Commerce Bank
Former S&L office offered for auction
The RTC will auction the Pioneer Federal Savings building at 2301 S. Iowa after Metropolitan declines to buy, ending Pioneer’s Lawrence office. Metropolitan will buy the Prairie Village site at 95th and Nall. Deposits totaling 12.5 million were moved to Metropolitan. RTC plans an auction this summer for Kansas City area properties.
MENTIONED IN THIS ARTICLE
Savings and Loan
Metropolitan Federal Bank
Pioneer Federal Savings
23Rd and
Iowa
Kent Earl
Lawrence
Earl
Resolution Trust Corp
RTC
Pioneer
Johnson County
Metropolitan
S. Iowa
95Th and
Nall
Prairie Village
Columbia Savings
Sixth
Lawrence Ave
Ninth
Vermont
Savings Bank
23Rd
Kansas City
AlliedSignal may shrink layoff target for K C plant
AlliedSignal Aerospace in Kansas City may cut layoffs from 1200 1500 to 800 900 if federal funding increases. A voluntary severance and enhanced retirement offer run through May 10. The plant, part of a DOE contract for non nuclear components, faces a $63 million budget cut from DOE.
MENTIONED IN THIS ARTICLE
AlliedSignal
K.C
Kansas City
AlliedSignal Aerospace Co
Floyd Walker
Walker
Pany
Lawrence
Kan
U.S. Department of Energy
Kansas City workers report fewest sick days among 32 metros
A study in American Demographics finds Kansas City employees aged 18 to 64 took 277 sick days per 100 workers in 1988-89, the lowest among the 32 largest metros. Seattle-Tacoma is next at 360. Buffalo-Niagara Falls clocks 893, with St Louis 482, Dallas-Fort Worth 548, and Indianapolis 621. The report accompanies a Labor Department note on unemployment claims rising to 364,000 for the week ended April 16, reflecting downsizing and hiring pressure amid economic competition.
MENTIONED IN THIS ARTICLE
Kansas City
American Demoraphics Magazine
National Center For Health Statistics
Seattle-Tacoma
Buffalo-Niagara Falls
N.Y
St Louis
Dallas-Forth Worth
Indianapolis
Labor Department
Global output to rise 3 percent this year IMF predicts
The IMF forecast global output will grow 3 percent in 1994 and 3.7 percent in 1995. Despite recessions in Europe and Japan, stronger US growth supports a rebound, potentially ending a four year period of sub par expansion and marking the best gains since 1988 and 1989.
MENTIONED IN THIS ARTICLE
Europe
Japan
United States
International Monetary Fund
IMF
Major drugmakers report rising Q1 earnings on new drugs
Three large pharmaceutical companies Bristol-Myers Squibb Pfizer and Schering-Plough posted stronger first quarter results driven by higher sales of newly introduced medicines. The improved earnings come despite ongoing pricing pressures as the industry works to curb health care costs globally.
MENTIONED IN THIS ARTICLE
Bristol-Myers Squibb Co
Pfizer Inc
Schering-Plough Corp
Regulators Eye New Limits on Bank Derivatives Trading
A top bank regulator said the agency is exploring new limits on trading by national banks after losses in derivatives. Eugene A. Ludwig, Comptroller of the Currency, said oversight of derivatives dealings by senior bank management and boards will be scrutinized. Derivatives are contracts whose value ties to underlying stocks bonds or commodities.
MENTIONED IN THIS ARTICLE
Eugene A. Ludwig
Also Mentioned on This Page
Casey’s Seneseen
Pepsico
CommBancsh
Quaker, Frrees
Peneeee
Dayton-Hud Railroad Fineeveeane
Fleming
Sallie Maedbeeneeses
FMC Areey
Santa Fe
Sealright
Goodyear
Sears Seheeeee
Hercules
Sthwest Bell
Kmart
TRW
Seaeegeee
Kroger
Trinova
Labone Penseuneeeeren
UtiliCorp
Lone Star Stichs
Wal-Mart
de Beneenenes Neneres
Western Res
Mercantile Steeaeege
Williams
Merck Neeves
Woolworth
Edward D. Jones & Co
Journal-World
Exch
Canada
France
Germany
Great Britain
Italy
Mexico
Switzerland
Jayhawk Club
Tom Jones
S&l
N.Y. Times News Service
Eldridge Hotel
Crystal Ballroom
Massachusetts
Doug Rogers
Rawson Capital Corporation
Mary
Kim
Fisher Company Financial Services, Inc
Berthel Fisher & Company, Financial Services, Inc
SIPC
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