Dollar slides and gold gains across world markets
The dollar weakened against major currencies in the first trading session of the new year as gold rose. Markets blamed expectations of lower U.S. interest rates, a growing trade deficit, and inflationary pressures for the decline. London and Tokyo markets were closed for the New Year holiday, with rates showing modest shifts in Paris and across Europe. Gold prices moved higher in Zurich and New York while Swiss banking changes and corporate moves also featured in the day's notices.
MENTIONED IN THIS ARTICLE
Europe
U.S
London
Paris
Tokyo
Zurich
Hong Kong
New York
Handy & Harman
Banks May Cut Auto Loan Rates Against Auto Makers
Analysts say banks may drop new car loan rates to match General Motors and Ford offers. David Eisenberg of Sanford C. Bernstein predicts 13 percent or lower, possibly 10 or 11 percent. Wells Fargo and Bank of America note deposits and funding costs constrain deeper cuts, while GM and Ford post 11.9 percent through March and Chrysler ends its 10.9 percent program. American Motors raises car prices and trims Jeep prices. national averages hover around 16 percent to 16.5 percent.
MENTIONED IN THIS ARTICLE
Byeneral Motors Corp
Ford Motor Co
David Eisenberg
New York
Sanford C. Bernstein & Co
Hisenberg
Gerry Gunn
Wells Fargo Bank
San Francisco
Bank of America
Chrysler Corp
American Motors Corp
Jeep
New limits to IDA bond financing hit McDonald project
The Madison County Industrial Development Agency financed its last Big Mac after federal rules restrict IDAs from issuing bonds for restaurants. The Tax Equity and Fiscal Responsibility Act of 1982 also bars bonds for recreation facilities and massage parlors. Public hearings on IDA bond issues are planned next year to curb abuses.
MENTIONED IN THIS ARTICLE
Madison County Industrial Development Agency
McDonald's
Route 13
Canastota
Madison County
IDA
Auburn Steel trims production amid market slump
The Auburn Steel Co. has cut weekly hours from 160 to 120 due to market problems in the steel industry while avoiding layoffs. About 300 workers are reassigned to duties such as special orders, maintenance, and replacements. President Takaaki Ono expects a full return to production by March with hopes for an upturn by mid 1983.
MENTIONED IN THIS ARTICLE
Auburn Steel Co
Bethlehem Steel Corp
Lackawanna
Auburn
Martin B. Fanning
Auburn Steel
Takaaki
Fred” Ono
Ono
Auburn Steel Management
Gold price revival amid inflation fears and policy shifts
The price of gold rose toward year end, closing in New York at 449.90 after a low of 296 in June, reflecting renewed interest as disinflation and looser policy influence sentiment. Analysts like Eugene J. Sherman and Raymond T. Dalio cite economic recovery and a weaker dollar as supporting factors for gold and silver.
MENTIONED IN THIS ARTICLE
New York
Treasury
Eugene J. Sherman
International Gold Corp
United States
Raymond T. Dalio
Bridgew Ere Consultants
Fed
Money Market Services
Federal Reserve
Baby Bell Goes Competitive in New Year Phone Center Stores
The emergence of American Bell and its PhoneCenter outlets in 1983 signals a shift toward competition in the U S telephone market. Leasing or buying options, FCC certifications, ringer equivalents, warranties, and feature choices shape consumer decisions as prices vary from under $20 to $2,000.
MENTIONED IN THIS ARTICLE
American Bell
Area Bell
At&t
Western Electric
Desktop
Princess
Trimline
Bell
ITT
GTE
MCT
Sprint
Naves
Styleline
Trendline
American Sell
Your Money's Worth warns on travel money losses and quick recovery
Sylvia Porter notes winter vacation plans invite risk of lost or stolen funds. She explains using a credit card holder at home to authorize a Western Union Charge Card Money Order, with cash advances billed on the card, varying by destination and amount. Examples include sending $50 for $11.95 or $16.95 to distant regions, with larger sums incurring higher fees.
MENTIONED IN THIS ARTICLE
Caribbean
Gstaad
Rodey
Western Union
Contiguous States
Alaska
Hawaii
Canada
Mexico
Western Union and Money Transfer Tips for Cold Weather Travel
A US and international guide explains sending money via Western Union with credit cards or cash, costs for amounts from 50 to 3000 dollars, two hour in country pickup, 8500 offices, 900 open 24 hours, and overseas options. It notes using American Express for rescue, postal money orders if funds are lost, and consulting the State Department for lost or stolen funds and consulate assistance.
MENTIONED IN THIS ARTICLE
United States
Western Union
American Express
U.S
Postal Service
Express
State Department
Also Mentioned on This Page
Bkce
Chicago
Thioune News
AUC
Gannett TV
Gannett Co., Inc
Wlky-Tv
Louisville
Fort Wayne
Ind
Pulitzer Publishing Co
St. Louis
Gannett
Federal Communications Commission
Wlvi-Tv
Boston
China
Peking
Washington
SEC
Nestle Pruning
Nestle
Baldwin United Corp
Cincinnati
Goldman, Sachs & Co
Baldwin United
Chase Manhattan Bank
Jending Securities
Chase
Auburn Steel Mill
Baby Bell
PhoneCenter
Plaza 81
Fast Western
Hue
Sylvia Porter
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