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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
Oct 23, 2004
Page
6
Market watch dated October 22 2004 notes market activity with a closing level of 567 78 and brief summaries of price moves and notable shifts. The entry highlights a steady session with modest gains across sectors and mentions index positioning and market sentiment.
Washington will impose a quota on sock imports from China in a bid to shield American workers. The move fuels the ongoing trade dispute as Bush touts free trade while Kerry accuses him of not doing enough to curb unfair competition. The U S trade deficit with China reached 124 billion last year and is running higher this year.
New York Attorney General Eliot Spitzer is examining whether radio promotion of recordings constitutes a new pay for play scheme. EMI Group PLC disclosed it has been queried along with other music and broadcast firms. EMI pledged a strict policy against unlawful promotion and said no material financial impact is expected.
Verizon Communications Inc extends a new fiber optic system to 1 million U.S. homes and businesses by year end, including more than 100,000 in suburban Boston. The network, tested in California Florida and Texas, aims to boost competition with cable and phone firms by offering ultrafast Internet access and interactive TV packages.
President Bush quietly signed a sweeping $136 billion tax relief package aimed at businesses farmers and manufacturers. The measure seeks to end Europe trade tensions and bolster jobs while critics warn it will widen deficits and favor multinationals moving jobs overseas. Key provisions include $76.5 billion for battered manufacturing and tobacco farmer assistance with debates over revenue neutrality and temporary tax breaks versus longer term costs.
The New York Times will print its weekday national edition at Cox Ohio Publishing Print Technology Center in Franklin starting Monday in a deal with Dayton Daily News owner. The agreement extends home delivery to Dayton Cincinnati Louisville and Lexington and follows past use of the Dayton plant for Times sections. The Times aims to grow national circulation with this and upcoming initiatives while Cox Ohio Publishing continues its broad printing operation of 1.6 million copies weekly across multiple papers.
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