Dollar gains while gold dips in quiet world markets
The dollar strengthened against most major currencies with mid morning rates higher in West German marks Swiss francs and French francs while slipping against the British pound. Gold prices fell across London Zurich Hong Kong and New York with variations in bullion trading. Major corporate moves include U S Steel’s Marathon Oil stake limits and Mobil’s potential asset sales if Marathon is acquired. A GM survey shows workers expect profits despite losses and potential wage concessions. Trade talks and Africa’s food production trends are also noted.
MENTIONED IN THIS ARTICLE
Tokyo
Europe
London
Zurich
Hong Kong
New York
Commodity Exchange
Handy & Harman
Consumer confidence falls as recession deepens in November
Associated Press reports consumer confidence slid for a third straight month in November amid declines in new orders and production. The Conference Board's index dropped to 60.5, with buying plans up slightly, signaling a prolonged downturn. The NAPM survey of 225 industrial firms shows inventories being drawn down and a worsening outlook, echoing weak GDP and high unemployment.
MENTIONED IN THIS ARTICLE
Associated Press
Toye
National Association of Purchasing Management
NAPM
Conference Board
United States
Association
Schuler urges tax incentives to boost New York growth
Raymond T. Schuler of The Business Council of New York State told a CONEG meeting in Saratoga Springs that states must seek tax incentives and development tools to compete for jobs. He cited New York’s 500,000 private sector jobs gained in four years and urged continued tax relief to beat Sunbelt advantages.
MENTIONED IN THIS ARTICLE
Saratoga Springs
Raymond T. Schuler
Business Council of
New York State
Schuler
New York
Coalition of
Northeastern Governors
CONEG
Conegroup
Financial centers reshape how savers invest
A shift toward full service financial centers accelerates as Merrill Lynch pioneers the Cash Management Account linking money market funds, margin accounts, a VISA card and checking. Banks, insurers, and brokerages weigh consolidations while CMA clients move between funds and stocks amid rate changes. Two thirds of CMA money sits in securities, one third in money market funds.
MENTIONED IN THIS ARTICLE
U.S
Money Market Fund
Merrill
Lynch
Pierce, Fenner &. Smith
Trail
Donald T. Regan
Treasury
American Express
Prudential
Sears
BankAmerica
Regan
Merrill Lynch
New York
CMA
Paul A. Stein
Stein
Higher bond prices and lower rates eyed by analysts
New York analysts predict higher prices and lower interest rates for notes and bonds in the months ahead with inflation easing if the Fed continues slow money supply growth. Opinions diverge on conditions after early next year as the economy remains weak and credit demand uncertain.
MENTIONED IN THIS ARTICLE
New York Times
New York
Federal Reserve
Fed
Elliott Platt
Donaldson, Lufkin & Jenrette
Money Notes
Edward Yardeni
E.F. Hutton & Co
Economics Alert
Your Money's Worth Tax Help for 1981 Donations
A guide explains end of 1981 charitable giving rules and tax implications. Donors should understand deductible gifts must be paid in 1981, and economic benefit affects deductibility. Non deductible personal costs include tuition gifts and admission payments.
MENTIONED IN THIS ARTICLE
Prentice-Hall
IRS
Tax deductibility pitfalls of charitable giving in 1981
This note explains when a charitable gift is deductible under 1981 rules, comparing charging a donation to a credit card versus paying by check. It covers timing, conditions, and the after tax costs for various income levels, noting the complexity of tax law and advising professional advice for large gifts.
MENTIONED IN THIS ARTICLE
KYZ Charity
XYZ
Prentice-Hall
KYZ
Also Mentioned on This Page
Business Digest
US Steel
U.S. Steel Corp
Marathon Oil Co
Marathon
Mobil
Amerada Hess Corp
East Coast
General Motors Corp
Detroit News
G&m
Reagan
Africa
South Central Bell Telephone Co
Talon Unzipping
Talon
Chicago
Schuler Presses
Council of State Planning Agencies
Michael Kieschnick
California
Jerry Brown
Nee
Grigago Triune Chan
Andrew Leckey
Field News Service
Shearson ‘Loeb Rhodes
Shearson American Express
Platt
Ana
Lysts
Donald H. Adams
Standard & Poor's
Credit Week
Sylvia Porter
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