Dollar slides in Europe as rates loom bold question
The dollar weakened versus major European currencies in early trading amid speculation on U S near record high interest rates while gold prices rose. In Tokyo the dollar firmed to 230 65 yen and the British pound moved to 1 8315 dollars. Major euro rates moved lower versus yesterday’s late levels as bullion trading remained quiet. Cooper Industries reported almost 20 million in turbomachinery contracts for oil recovery and gas transmission. American investments aboard rose 14.3 percent in year by Commerce Department data.
MENTIONED IN THIS ARTICLE
London
United States
Tokyo
Europe
New York
Zurich
Hong Kong
Cooper Industries
Crouse-Hinds Co
Cooper Rolls
Cooper and
Rolls-Royce Ltd
Allo
Alaskan
North Slope
Arco Alaska
Prudhoe Bay
Sohio Alaska
West Coast Transmission Co. Ltd
British Columbia
U.S
Rolls- Royce
Cooper Bessemer
Four Danzer restaurants operate while sales near completion
Four Danzer dining spots in Syracuse remain open under old licenses while three of four are sold to new owners. Ludwig Danzer retired after selling in 1973. Mrs Rosemary Roberts runs Danzer on Ainsley. Missing details corrected: Ludwig Danzer alive and residing with Mrs Danzer at 154 Briggs St.
MENTIONED IN THIS ARTICLE
Danzer
Syracuse
Danzer’s
Ludwig Danzer
Rosemary Roberts
Ronald Delata
Buffalo
Erie Boulevard
Thompson Road
Jeannette DeJohn
Danvers
Danver
S. Warren Street
Dave Buono
Joseph Marinelli
Roberts
Ainsley Sprice
Ludwig Danger
Stily
Danzer Rev
Briggs St
Emptier skies fuller planes likely amid PATCO strike
Washington reports analysts foresee lighter air traffic and fuller schedules as the 12,000 air controllers strike continues. FAA limits cut flights to about 75 percent of pre strike levels, with some carriers trimming capacity and adjusting fares while airlines watch for deregulation impact. Trans World Airways exits Providence and Albany while Pan American adds New York routes to Philadelphia Chicago and Atlanta.
MENTIONED IN THIS ARTICLE
Michael F. Conlan
Newhouse
Washington
Federal Aviation Administration
PATCO
Paul Gretch
Civil Aeronautics Board
Bureau of Domestic Aviation
Matt Finucane
Aviation Consumer Action Project
Frontier Airlines
Usair
Trans World Airlines
Providence
R.I
Albany
N.Y
American Airlines
Knoxville
Tenn
Pan American World Airways
New York
Philadelphia
Chicago
Atlanta
Domestic auto sales rise 18.2 percent in mid August
AP reports U S automakers boosted domestic car sales 18.2 percent in mid August due to rebates and incentives. Five major manufacturers sold 202,578 cars in Aug 11 20 period versus 171,381 in 1980. Chrysler led gains with 43 percent rise. GM up 19.8 percent. Ford up 11.5 percent. VW down 14.7 percent. AMC down 24 percent. Chrysler remains the only domestic maker with year to date gains.
MENTIONED IN THIS ARTICLE
Detroit
U.S
Chrysler Corp
General Motors Corp
Ford Motor Co
Ford
Chrysler
Midland Bank to Buy Crocker National Bank in Record U.S. Deal
London based Midland Bank Ltd agreed with the Federal Reserve to acquire 51 percent of Crocker National Corp, owner of Crocker National Bank in San Francisco, in a record foreign takeover. The deal values Crocker at roughly $595 million with options to rise to 57 percent and a future $225 million stake.
MENTIONED IN THIS ARTICLE
Washington
UPI
Crocker National Bank of
San Francisco
Federal Reserve Board
Midland Bank Ltd
London
Crocker National Corp
Crocker National
United States
Fed
Crocker National Bank
California
Midland
England
Wales
Scotland
Northern Ireland
Republic of Ireland
Midland Bank
Thomas Cook, Inc
New York
U.S
Cook
Marine Midland Bank
Buffalo
Hong Kong and Shanghai Banking Corp
Hong Kong
Marine Midland
American Bankers Association
Crocker
Banking Corporation
Frank O'Brien
Chicago
Donovan defends hiring rule changes at Chicago meeting
Labor Secretary Raymond J. Donovan defends proposed changes to federal affirmative action rules aiming to increase effectiveness. The plan would let up to 75 percent of 200,000 firms with government contracts bypass formal programs, restricting action to contractors with 256 or more workers and contracts over 1 million dollars. He said the approach reduces burdens on small employers, while critics from civil rights groups and Eleanor Smeal decry setbacks for equality. The rules follow a 60 day publication and a one month implementation timeline, with Donovan also backing changes to the Davis Bacon Act amid AFL-CIO objections.
MENTIONED IN THIS ARTICLE
James Warren
Chicago Sun-Times
Chicago
Raymond J. Donovan
Donovan
International Brotherhood of Boilermakers
United States
Eleanor Smeal
National Organization of Women
Davis-Bacon
Bobby Georgine
Robert Georgine
Afl-Cio
Building and Construction Trades Department
Georgine
Rechecking wills amid sweeping 1987 estate tax changes
The article urges immediate action on the new federal estate and gift tax laws. It explains exemptions rising from 175000 to 600000 by 1987, outlines spouse transfers free of tax, gifting limits to children, and the impact on life insurance and appreciated property. It notes changes to joint ownership rules and progressive tax rate reductions affecting the extremely wealthy.
MENTIONED IN THIS ARTICLE
Wnion
Also Mentioned on This Page
Business Digest
Cooper
America
Commerce Department
Finucane
United Airlines
Jack Gamble
United
George James
Air Transport Association
Bob Schulman
Volkswagen of America
American Motors Corp
U.S. Bank
Ruby Gradel
Borg-Warner Electronics
Ithaca
York
U.S. Chamber of Commerce
By Sylvia Porter
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