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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Dec 19, 2001
Page
20
The Commerce Department reports housing starts rose 8.2 percent in November to a seasonally adjusted annual rate of 1.65 million units, the biggest monthly gain since January and the highest level since July when starts were 1.66 million.
Suiza Foods Corp and Dean Foods Co agreed to divest 11 dairy processing plants in eight states excluding Kansas to assuage antitrust concerns about their pending merger. Dallas based Suiza would acquire Dean for 1.5 billion dollars, keep the Dean name, and base the combined company in Dallas with about 10 billion dollars in annual sales.
IMF report shows global growth at 2.4 percent for this year and next, down from 4.7 percent in 2000, with 182 nations affected. It warns of the widest synchronized slowdown in two decades as economies struggle after the terrorist attacks.
Negotiators reached a 22 billion plan for the Air Force to lease 100 Boeing 767s for 10 years. Boeing would later take them back or sell them to the government. Work location for modifications is undecided, with Wichita favored by Rep. Todd Tiahrt but not yet settled.
The market rose as November housing construction jumped 8.2 percent, boosting investor optimism about a recovery. Lennar led gains after predicting higher Q4 earnings. Best Buy and Circuit City beat forecasts, aiding the Dow up 106.42 to 9,998.39. GE, DuPont, IBM, and Ciena also advanced on solid results and upgrades.
Ottawa Cooperative Assn and regional elevators report wheat corn milo and soybeans prices with NA entries for some sites. USDA loan deficiency payments list corn at two cents and soybeans at one dollar sixteen cents. Nonferrous metals quotes mix copper aluminum gold silver and mercury with spot and contract figures from NY exchanges Handy & Harman and Landon Metal Exch.
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