Chase Manhattan merger with Chemical Bank to form US giant
A $10 billion stock merger creating Chase Manhattan Bank and Chemical Bank will produce the largest U.S. bank by assets, with about 297 billion in assets and 25 million customers. The deal, expected by March, includes 12,000 layoffs, 104 Chemical shares per Chase, and regulatory approvals.
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Wilson launches 1996 presidential bid with siege claim
California Governor Pete Wilson declares the nation under siege by a federal government he calls oppressive. He frames the campaign as an early five day tour to kick off his GOP presidential bid amid concerns over crime welfare and federal overreach.
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Wilson campaign tour cites immigration in warn-off to voters
Governor Wilson denounces illegal immigration as a test of lawfulness and criticizes Clinton on drugs policy borders and spending. He uses the Statue of Liberty backdrop to frame a message about a right way to enter America while highlighting a past tax increase and changes to affirmative action at California universities.
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Shell slams Sarajevo market in deadly 1994 echo
A mortar shell struck Sarajevo's crowded marketplace injuring many and killing at least 31, in a grisly echo of the Feb 5, 1994 attack that left 68 dead. The blast landed under 100 yards from today’s carnage.
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Sarajevo
Airlines launch separate fare sales Northwest and Continental
Northwest and Continental began distinct fare sales offering up to half off through mid December if tickets are bought within a week. Northwest cut about 115 cities by half with two week utilization delay, while Continental averaged 40 percent off and will meet Northwest prices in competing cities. Northwest sale ends Friday with two week wait. Continental sale lasts through Friday with one week before use.
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China US summit may come later this year
U S undersecretary Peter Tarnoff suggested a possible summit with China as early as October but China offered no public confirmation. Tarnoff said top diplomats would meet at the United Nations next month to draft an agenda and warned substantial work remains before any meeting. He spoke in Beijing after two days of talks, the highest level U S official to visit since relations soured in May.
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Switzerland approves transfer of Marcos funds to Philippines
Switzerland has authorized transferring nearly half a billion dollars from late president Ferdinand Marcos's Swass bank accounts to the Philippines. Attorney Peter Cosandey said the decision, still subject to Marcos family appeals, advances a long legal battle over ill-gotten gains from the Marcos dictatorship and involves pending court actions in the Philippines.
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US Open kickoff highlights return of Monica Seles
The final Grand Slam event opens with Monica Seles making a comeback as attention centers on the US Open. Experts weigh in on age appropriate allowances for children and cautious guidance on privacy and public health topics amid ongoing legal and corporate issues.
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