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Lawrence Journal World in Lawrence, Kansas

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Newspaper

Lawrence Journal World

Location

Lawrence, Kansas, United States of America

Date

Mar 17, 2000

Page

15

ECB Hikes Rates to 3.5 Percent Amid Inflation Pressure

The European Central Bank raised its key rate by a quarter point to 3.5 percent to curb inflation across the 11 euro countries. Officials cited by rising oil prices and a weak euro as factors pushing prices higher, while inflation in January reached the 2 percent target.

European Central Bank European Union ECB

Dow hits record rally as Dow climbs 499 points on busy NYSE day

The Dow Jones Industrials surged 499.19 points to 10,630.60 marking the busiest trading day in NYSE history and erasing about 42 percent of recent losses in two days. Nasdaq rose 134.77 to 4,717.39 as tech shares led the rebound amid volatile markets. Analysts warn the surge may be a short term head fake in a year of high volatility.

New York Dow Industrials Wall Street New York Stock Exchange Dow David G. Sowerby Loomis, Sayles & Co AP Paoto William Johnston NYSE Richard Grasso

Energy Price Surge Lifts Wholesale Inflation in February

Wholesale prices rose 1 percent in February driven by a 5 percent leap in energy costs the largest single month gain in a decade. The jump precedes potential Fed rate hikes as inflation signals persist despite a Dow surge to record intraday gains.

Washington Wall Street Labor Department Joel Naroff Naroff Economic Advisors Federal Reserve Fed

BMW to cut losses and shed Rover unit stakes

BMW will dispose of the money losing Rover passenger car unit in a deal with Alchemy Partners of London. Alchemy will take on Rover and MG branding including Longbridge plant and rebrand as MG Car Co. Land Rover fate remains uncertain though Ford was rumored to buy it.

BMW Rover Jon Moulton Alchemy Partners Alchemy London Frankfurt Germany Alchemy Partners Ltd Longbridge England MG Car Co Christian Breitsprecher Deutsche Bank Land Rover Britain Stephen Byers New York Times Ford Motor Co

Bell renews bid to enter Kansas long distance market

Southwestern Bell Telephone Co seeks entry to the long distance field in Kansas. The Kansas Corporation Commission will assess 14 requirements under federal law before the FCC decides on Bell's eligibility. McKenzie calls it great news for consumers, promising more choices, better service, and one stop shopping, while rivals warn of unfair advantage if Bell moves ahead before local competition fully develops.

Forzxa Southwestern Bell Telephone Co Kansas Corporation Commission Kansas Kccs Bell Federal Communications Commission Insas McKenzie At&t Corp Oe McKenzie

Local market prices and commodity quotes update

As of Thursday, Farmers Cooperative Assn lists Eleva tor Wheat 2.46 and Soybeans 4.83 with Milo 1.77 and Corn 1.99. North Elevator shows Wheat 2.46 Soybeans 4.88 Milo 1.77 Corn 2.04 with USDA Loan Deficiency Payments Wheat 0.26 Soybeans 0.44. Nonferrous metals quoted in New York include Aluminum 72.5c/lb and Copper around 84.0c/lb, Zinc 6.33-6.83c, Gold 287.35 per troy oz, Silver 5.12 per oz, Platinum 472-483 per oz. Dodge City livestock market notes Kansas feedlot sales.

Farmers Cooperative Assn South Midland Milo North USDA London U.S N.Y Mercy Handy & Harman

Slaughter Cattle Market Update Thursday Trade at Slow Pace

Slaughter cattle sales slow with limited demand and moderate inquiry. Week to date shows 200 head confirmed with 32,800 head confirmed for the period, including 32,600 previously contracted or formulated cattle. FOB feedlot net weights reflect 4 percent shrink, with steers and heifers described as small pens of select to choice grades and mixed commercial heifers.

Also Mentioned on This Page

Chicago Besar of Trade Kansas City Board of Trade Peapod Peapod Inc Bill Malloy IRS Internal Revenue Service Congress Charles Rossetti House’ Appropriations Committee HMO Giant American Medical Assn HMO Unitedealthcare Corp AMA Manhattan Nonferrous Metals Dodge City Livestock
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