Dollar slips as rates rise and markets slump
The Canadian dollar fell to 81.08 US cents in New York as the Bank of Canada boosted the trend rate to 20.54 percent and major banks raised prime lending to 21.75 percent. Stock markets posted a three day decline, with the TSX shedding $7.44 billion in value amid a looming steel strike and heightened takeover concerns.
MENTIONED IN THIS ARTICLE
New York
United States
Bank of Canada
Mercantile Bank of Canada
Allan MacEachen
Robert Utting
Royal Bank of Canada
Toronto Stock Exchange
London dazzled by royal wedding as nation revels
London continued to celebrate Prince Charles and Lady Diana Spencer after their wedding with red white and blue decorations and crowds along the route. International papers reflected mixed feelings about Britain’s temporary distraction from economic woes and unrest, while some praised the grandeur and tradition.
MENTIONED IN THIS ARTICLE
London
Prince Charles
Diana Spencer
Britain
Buckingham Palace
St. Paul’s Cathedral
St. Paul's
Broadlands
Earl Mountbatten
Northern
Ireland
Het Algemeen Dagblad
Rotterdam
Netherlands
Europe
Het Belang van Limburg
Brussels
Belgium
England
Il Giornale
Milan
Italy
le Figaro
Drapeau Rouge
L’humanite
France
Land Og Folk
Denmark
Morning Star
Rizospastis
Greece
Baseball Strike Ends as MLB Reopens with Possible Split Season
The MLB work stoppage ends after talks led by Marvin Miller and Donald Fehr for the players and Ray Grebey and Lee MacPhail for the owners. The union and owners reach a compromise with a plan that could split the season into two mini-seasons starting August 10, with a potential special series to decide division champions. Players gain a compensation pool and service time credit for strike days, preserving free agency at season's end.
MENTIONED IN THIS ARTICLE
New York
Marvin Miller
Donald Fehr
Ray Grebey
Lee MacPhail
Players Association
Cleveland
PLO shells Lebanese village as ceasefire grinds on
Palestinian guerrillas shelled Deir Rames in southern Lebanon near the Israeli border. Maj Saad Haddad said he would seek Israeli approval to respond, despite a ceasefire. No casualties reported. Syria and the PLO accuse Israel of breaking the truce with overflights. Israel vows to defend Lebanon while considering retaliation for a bus attack in Israel.
MENTIONED IN THIS ARTICLE
PLO
Tel Aviv
Lebanon
Israel
Israel Radio
Deir Rames
Saad Haddad
Syria
Palestine Liberation Organization
Menachem Begin
Uri Porat
Postal talks near failure as mediation stalls in Ottawa
Mediator Alan Gold says government and union negotiators have not resolved key issues after 32 days of postal strike. Talks resume today but both sides hint at a take it or leave it stance as union seeks 17 weeks maternity leave, longer vacations, extra holidays, higher premiums and safety protections.
MENTIONED IN THIS ARTICLE
Ottawa
Alan Gold
Trudeau
Gold
Quebec
Treasury Board
Canadian Union of Postal Workers
George Orser
Steel strike set for tonight in Algoma workers vote pending
Algoma Steel Corp workers prepare to strike at midnight after union Local 2251 approved a strike in principle. A membership meeting will outline terms of a proposed three year wage and benefit increase of over seven dollars an hour with a vote possible this weekend.
MENTIONED IN THIS ARTICLE
Sault Ste. Marie, Ont
Algoma Steel Corp
Jack Ostroski
United Steelworkers of America
Ostroski
Algoma
Local 2251
Wawa
Ont
Sault Ste. Marie
Hamilton
Harry Grenwood
Stelco
Hilton
Bank hostage drama ends as convict beaten by crowd in Montreal
A dozen enraged hostages overpower an escaped convict who tried to rob a Montreal National Bank branch. The hour long standoff ended after police surrounded the bank and a hostage wounded a robber during a struggle. One hostage struck the bandit with a stapler as officers moved in.
MENTIONED IN THIS ARTICLE
Montreal
The
National Bank of Canada
Louis Dussault
Dinh Trin Nguyen
Norman Wells pipeline decision raises project costs
The federal cabinet approved the Norman Wells pipeline and oilfield expansion with a one year construction delay. Full operation pushed to July 1985, with work on oilfield expansion starting summer 1983 and pipe laying not before November 1983. Total costs may exceed 1.3 billion dollars and each project could see substantial cost increases. Native leaders welcomed the decision as progress while cautioning on negotiations and training needs.
MENTIONED IN THIS ARTICLE
Edmonton
Norman Wells
John Munro
Yellowknife
Northwest Territories
Interprovincial Pipe Line (Nw) Ltd
Esso Resources Canada Ltd
Esso
Munro
John Parker
Tom Butters
N.W.T
Mackenzie Valley
Dene
Georges Erasmus
Erasmus
Hancock Leads Canadian Open After First Round
Phil Hancock fired a 68 to take the first round lead at the Canadian Open. A host of lesser known golfers trail by one stroke as tension builds for the weekend.
MENTIONED IN THIS ARTICLE
Hancock
Phil Hancock
Also Mentioned on This Page
Grebey
Robert St. Jean
Montreal Expos
Olympic Stadium
Expos
Pittsburgh Pirates
Don Johnston
Medicine Hat
Gambia
Toda
Alan Poirier
Allan Fotheringham
Ae Bridge
Tae City News
CC Er Ars
Richard Helm
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