Wall Street pauses trading to ease back office overload
New York stocks halt trading on Wednesday and two future dates to relieve a wave of paperwork. Traders and firms complain of overtime, with clerks working long weeks as Merrill Lynch and Union Securities note the move will reduce nontrading tasks and backlogs.
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United Nations votes on South West Africa after abstentions
The General Assembly approved a mildly worded resolution returning the South West Africa issue to the Security Council by a 96 to 2 vote with 18 abstentions. The text offered no concrete plan to end South Africa’s mandate and urged economic pressure, while Western powers largely abstained. The report notes Ernest Hemingway and his Spain wartime writings are mentioned in passing.
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