Japan devalues yen seven per cent amid market turmoil
The yen fell to about 265 per dollar after the Bank of Japan intervened to defend the 265 rate amid a widening balance of payments deficit. Officials expect the top dollar rate to hold for weeks, while inflation pressures mount from pricier imports and potential wage increases as firms face material shortages and power cuts.
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No News Weighs As Dow Dips On Indecisive Day
New York stocks drifted amid energy and Middle East tensions and Watergate worries. The Dow Jones Industrial Average fell 3.38 points to 878.05 as brokers said lack of major news capped gains.
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Fire damages Gay Paree theater in San Francisco
A fire swept the Gay Paree film theater in San Francisco Sunday causing about 30000 dollars in damage. An arson investigation will be conducted. The theater was showing a double bill of Deep Throat and The Devil in Miss Jones.
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