Carter heads to seven nation summit on oil costs
President Carter travels to London for a seven nation economic summit to align policies, back a new IMF emergency fund of 16 billion dollars, address oil price impacts, and push world trade talks. He will also meet NATO leaders in London and discuss West Berlin with Britain France and West Germany.
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Washington
Carter
London
Germany
Japan
Italy
France
Canada
United States
Europe
International Monetary Fund
Geneva
NATO
Hafez al-Assad
Syria
Ment
Britain
West Germany
West Berlin
Carter warns Congress on U S oil dependence and energy plan
Defense Secretary Harold Brown and Secretary of State Cyrus Vance testified on America's growing reliance on Middle East oil. They urged reducing Persian Gulf dependence, boosting Western Hemisphere oil, and building a billion-barrel stockpile as Carter pushes a 113–item energy package with costly reforms.
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Carter
State and Defense
Congress
United States
House
Committee On Energy
Defense
Harold Brown
Organization of Petroleum Exporting Countries
OPEC
Vance
Central Intelligence Agency
Texas facing billion-dollar surplus fuels tax cut debate
Texas lawmakers debate use of a $1 billion surplus and $2 billion projected in two years. Conservatives push tax cuts to rein in spending while liberals urge continued spending for social programs. Comptroller Bullock notes higher revenues from energy prices and Sunbelt growth, with May 30 adjournment looming.
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Austin
Tex
Texas
John Bryant
Dallas
House Liberals
House
Ways and Means Committee
Joe Wyatt
New York
California
Michigan
Bob Bullock
al Price
D-Beaumont
UN to Probe Korean Military Incident
United Nations Command said North Koreans ambushed a South Korean patrol near the DMZ wounding one and killing another, prompting a probe request by the Military Armistice Commission. North Korea denied involvement via Radio Pyongyang, while tensions linger after the earlier Panmunjom killings.
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United Nations
Seoul
South Korea
United Nations Command
U.N
Military Armistice Commission
North Korea
Demilitarized Zone
Panmunjom
Koreas
Armistice Commission
Park Chung-hee
Midsession Stock Rally Pushes Dow Higher on Hopes for Price Index
A mid session wave of buying lifts the Dow Jones average 6.53 to 940.72 as volume swells on the NYSE to 23.33 million shares. Analysts anticipate the April wholesale price index will show a smaller rise than March, aiding further gains. The AMEX market value index climbs to 113.55 and the NYSE composite to 54.49 as investors await price data.
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New York
New York Stock Exchange
American Stock Exchange
NYSE
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Persian Gulf
Br Stacks
Sport Coats
E. Patrick St
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