Global Gold Slump As Retailers Report Holiday Boost
Gold prices extended their fall across Europe Asia after a sharp New York sell-off while the dollar firmed against European currencies. London fixed 574.75 per troy ounce, Zurich traded 572, and Hong Kong closed 574.97. Silver eased to 15.28 in London and 15.45 in New York as dealers warned of continued volatility. Retailers Sears J.C. Penney Kmart and Montgomery Ward posted December gains though 1980 remained slow overall amid high rates and recession. refiners raised heating oil diesel and gasoline prices slightly. Chief executives expressed confidence in the economy as the Conference Board reported a business confidence index of 63 following the Reagan victory. Banks cut prime lending rates slightly while Chrysler UAW talks continued over a possible 400-600 million aid package and loan guarantees.
MENTIONED IN THIS ARTICLE
Europe
Asia
New York
London
Zurich
Hong Kong
Handy & Harman
Sil Iver
Bache Halsey Stuart
London) Ltd
Spectacular NYT service spurs record market plunge
The New York market faced one of its most dramatic sessions as prices slumped after a noted adviser urged selling. The Dow dipped 23.80 to 980.89, with volume at 92.9 million shares, the highest since 1980. Prices edged up today as a tentative recovery began.
MENTIONED IN THIS ARTICLE
New York Times Service
New York
New York Stock Exchange
Ronald Reagan
Dow
Volcker urges fiscal policy aid to fight inflation
Federal Reserve Chair Volcker told the Senate Banking Committee that tight growth in money and credit will curb a rebound while inflation remains high. He urged the Reagan team to pursue a balanced budget by 1983 and to adjust regulatory policy to let market pressures work, noting fiscal policy as a key restraint on inflationary pressures.
MENTIONED IN THIS ARTICLE
New York Times Service
Washington
Paul A. Volcker
Federal Reserve
Fed
Volcker
Senate Banking Committee
Donald T. Regan
Treasury
Ronald Reagan
Reagan
Chrysler posts best month since 1979 amid 1980 auto sales decline
Chrysler Corp leads domestic market share in late December with 17.2 percent in the final 10 days and 13.4 percent for December, though full-year sales fell 28 percent. Overall U.S. auto sales dropped 15 percent to 8,956,129 with imports up 3 percent to a 26.5 percent market share. Domestic auto makers pooled at 6,576,309 units, the lowest since 1961.
MENTIONED IN THIS ARTICLE
Chrysler
Jerry Pyle
U.S
J.S. Automakers
Your Money's Worth in 1981 Executive Firings
The article argues 1981 will open in a weak economy with high inflation and steep interest rates. It links rising bankruptcies and top executive firings to mismatches between executives and jobs, and outlines three self checks: self-review, research on a potential employer, and ensuring a true skills fit before relocating. It notes common firing causes include poor company performance, management changes, personality conflicts, relocation refusals, and inflexibility.
MENTIONED IN THIS ARTICLE
U.S
Ushi
Paul Ray
Also Mentioned on This Page
Qdt
Business Digest
Sears Roebuck & Co
Sears
J.C. Penney Co
Kmart Corp
K Mart
Walter Nepps
J.C. Penney
Montgomery Ward & Co
Clark
Midwest
Conference Board
Chemical Bank
Chase Manhattan Bank of New York
First National Bank of Chicago
Chemical
United Auto Workers
Chrysler Corp
UAW
Douglas A. Fraser
G. William Miller
Chryster
Joseph Granville
Granville
William M. LeFevre
Purcell, Graham & Co
Paula
Detroit
Ifmamijasond
Louis Valleriani
Val
Dodge
Daniel Fragnito
Solvay
Michael Kosko
Lakeland
Auto Trend
Syracuse
Automobile Dealers Association
County War Memorial
Aries
Pay R. Rity Sr
Soton
Thaugh
By Sylvia Porter
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