Fed seen unlikely to cut rates as GOP gathers
Monetary analysts expect the Federal Reserve to hold rates steady at the Open Market Committee meeting amid the Republican National Convention. They note a potential but unlikely move to ease before Labor Day, given political pressures and the need to maintain anti inflation credibility. Reports cite mixed data on growth, slight July retail gains, and a looming decision on the discount rate while long term rates retreat from 7 percent.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Robert A. Brusca
Nikko Securities Company International
Fed
Trading Desk
Open Market Committee
Jeremy A. Gluck
Mitsubishi Bank
New York
Midland Elevator Prices Show Mixed Grains and Commodities
Market notes from Midland, Lawrence list wheat at 3.01, corn 2.21, oats 3.60, soybeans 5.31 per unit. NYSE up modestly as Dow gains 2.70 to 3331.64 with volume around 87.4 million. Barron’s rally optimism and Republican convention in Houston cited. Omaha and St Joseph livestock quotations include hogs, cattle, and sheep with varied price shifts. cattle futures show slight declines in some categories.
MENTIONED IN THIS ARTICLE
Midland
Lawrence
New York
Wall Street
New York Stock Exchange
NYSE
American Stock Exchange
Houston
Barron’s
UAL
Usair
Delta
Local Bendix/King plant cuts 18 jobs in downsizing
Bendix/King announced 18 layoffs at its Lawrence Ben dix King Radio plant as part of a companywide downsizing caused by shrinking overseas business. The Lawrence site employed 464 workers before the cuts, with nine offered other assignments and three choosing voluntary layoff. Most reductions were in avionics, while the Mobile Communications Division in Lawrence faced indirect impact. The firm, which also shed 141 jobs across four plants, did not forecast further layoffs.
MENTIONED IN THIS ARTICLE
Lawrence Bendix
King Radio
Stephen Nichols
Mobile Communications
Lawrence
Nichols
General Aviation
Bendix/King
Olathe
Johnson County
Ottawa
Paola
US West reaches tentative pact with unions amid Bell Atlantic delay
US West and two unions representing more than 37 000 workers in 14 states announced a tentative contract ending a midnight strike deadline. Ratification by CWA and IBEW will take two to three weeks. Bell Atlantic remains the lone Baby Bell without an agreement. The pact includes a 5 percent raise this year and 3 percent in each of the next two years. Philadelphia based Bell Atlantic serves seven states and DC. President Gary Ames hailed the deal as beneficial to employees, the company, the union and investors.
MENTIONED IN THIS ARTICLE
Denver
U S West
Bell Atlantic
Baby Bell
Communications Workers of America
International Brotherhood of Electrical Workers
Bell Atlan
Tic
Washington
Ken Pitt
Pennsylvania
New Jersey
Delaware
Virginia
Maryland
West Virginia
Washington, D.C
US West
CWA
Gary Ames
Colorado
Wyoming
Nebraska
Arizona
New Mexico
Utah
American Telephone & Telegraph Co
Ameritech Corp
BellSouth
Southwestern Bell
Pacific Telesis
Tokyo stocks edge up but stay below 15000 level
The Nikkei 225 rose 109.30 points to close at 14929.55 as profit taking trimmed earlier gains near 15000. Friday's advance followed a 7.6 percent slide over six sessions. Traders cited short covering and index arbitrage. gains faded in afternoon trading. West Communications. The workers broadly welcomed no strikes, while unions seek pay raises for about 37662 U S West staff across multiple states. Tentative deals reached with four regional Baby Bells from the 1984 AT&T breakup. NYNEX remains under a 1995 expiry.
MENTIONED IN THIS ARTICLE
Tokyo
Tokyo Stock Exchange
Also Mentioned on This Page
Robert D. Hershey Jr
N.Y
Met
Bush
Alan C. Lerner
Bankers Trust
Toys R Us
Kart
Omaha Livestock
Omara, Neb
USDA
Omaha
U.S
St. Joseph Livestock
ST. Joseph, Mo
NEW York AP
Johns
Kmarts
Easler S
Abl Labs
Jh Kroger
BS Mos
We Lilly
Alcoa
Clmita
Lilco
Lowes
Alain
Amoco
Stka
Wst
Wb Mobil
ParCom BO
Pilzer
BuriNth
Bavet Philii
Ms PhilPet VA
Cousar
Placord
CocaCls
RoyAnis
Smwe
Ara Ag Rayld
Ryder BO
Conrail
Ana Arer 'P CniCed
SouthCo
DuPont
Exxon
Texaco
Hanson
Heine
Valero
WalMart
Aia
Allied Sig
Fleming
Kmart Wee
Sears
TRW
Trinova
Mis
UtiliCorp
Wal-Mart
Western Financial
Western Resources
Williams
Woolworth
Niehoff Htg. & Air, Inc
Las
Lawrence Area
Gwyn Mellinger
Mtech
Mtech Win
Microtech Computers, Inc
Iowa St
ADT
Instun
ADI
United States
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