Dollar Steady. Gold Mixed as Markets Eye Rates Edge
Currency trading shows caution with potential U.S. rate hikes while European cuts weigh on the dollar. The British pound sank to 1.8720, and European and Asian rates shifted with gold around 377 an ounce in Zurich and London. Unemployment in the European Common Market hit a postwar high above 10 million. corporate results included International Paper profits tripling to 239.6 million and Boise Cascade dipping 1.3 percent. Short-term Treasuries rose as the Fed tightens policy, with one-year bills at 13.18 percent.
MENTIONED IN THIS ARTICLE
U.S
Europe
Tokyo
Zurich
London
Hong Kong
Handy & Harman
Commodity Exchange
New York
International Paper
Boise Cascade
Alcoa
Alcon
Penn Central
GE Technologies
Air Products and Chemicals
Federal Reserve Board
Treasury
Fed
BankAmerica tops Citicorp for lead
BankAmerica closes 1981 with a $9.5 billion rise in total assets to $121.2 billion, reclaiming the top spot as the nation’s largest bank holding company while Citicorp advances 4 percent to $119.2 billion. Citicorp’s earnings reached $355 million, about $110 million more than BankAmerica, yet assets growth is noted as not guaranteeing higher profitability.
MENTIONED IN THIS ARTICLE
New York Times
New York
Bank America Corp
Citicorp
Bank America
Richard A. Freytag
Cincorp
Bank America’s
Freytag
BankAmerica
the Chase
Manhattan Corp
United States
Bank of New York Co
The
Irving Bans Corp
Irving
Foreign trade zone plan gains momentum in Syracuse area
The Greater Syracuse FTZ Ltd. signs a county contract to administer a planned foreign trade zone and hires Morris Group Inc. as consultant to file the establishment application with the U.S. Foreign Trade Board. The project aims to attract new plants and jobs to the region, with sub zones in warehouses and factories for duties not paid until goods exit the secured area.
MENTIONED IN THIS ARTICLE
Joseha A. Porcello
Syracuse
Greater Syracuse
N. Earle Evans
U.S. Foreign Trade Board
United States
Robert J. Theis
Greater Syracuse Foreign Trade Zone Ltd
Theis
Canadian Pacific Enterprises (U.S.) Inc
U.S
Canadian Pacific
Chamber
Greater
Erwin G. Schultz
PTZ
Empire Freezers
New York State
Empire
Argentina
John Redmond
UTC plans European venture with Telefunken and Mostek
United Technologies and ABG Telefunken announced advanced talks on a major semiconductor venture to enter Europe’s market. Discussions include merging MOS and semiconductor operations and potential joint ventures between Telefunken’s components division and Mostek, UTC’s semiconductor subsidiary.
MENTIONED IN THIS ARTICLE
United Technologies Corporation
Abg-Telefunken
United Technologies
Europe
Telefunken
Frankfurt
Friedrich Bender
Peter L. Scott
Munich
Electronic Components
Mostek
Your Money's Worth Fifth of ten education deductions
The article outlines rules for deducting education expenses to maintain or improve skills versus qualifying for a new trade. It cites 1981 tax cases, including Donald and a licensed clinical social worker, where the Tax Court debated whether the education qualified as education or a new trade, noting the IRS shift toward a program of study at an accredited institution.
MENTIONED IN THIS ARTICLE
Ioften
Educa
Tr Gue Doneld
Donald Educa
Tax Court
IRS
Redaia
IRS Rules On Deducting Education Costs And Barter Clauses
A review of tax rulings discusses whether education costs beyond work-related expenses are deductible. It cites a 1981 Corning Glass Works case where part-time courses were deductible for skill maintenance, while full-time study not linked to the job was not. Barter exchanges face IRS pressure to reveal member details, with courts affirming IRS authority in record-keeping and taxation of barter credits.
MENTIONED IN THIS ARTICLE
IRS
Corning Glass Works
Syracuse University
Corning
Cinirt
TRS
Reluctant Gold Commission Highlights a Reluctant Panel
A small Gold Commission group meets monthly at the Treasury to debate the role of gold in the U S monetary system. Most members resist a gold standard. the panel may propose minting gold coins. Anna J Schwartz, a monetarist, leads scrutiny and faces criticism from gold standard advocates while maintaining academic objectivity.
MENTIONED IN THIS ARTICLE
Ann Crittenden
New York Times
Washington
Treasury Department
Gold Commission
Treasury
American Stock Exchange
New York
Canada
South Africa
Mexico
Austria
Commission
Ronald E. Paul
Texas
Federal Reserve Board
Fed
Anna J. Schwartz
Mrs. Schwartz
Milton Friedman
Also Mentioned on This Page
Syracuse Herald-Journal
Chase
Business Digest
Money Market Funds
Federal Trade Counties
Redmond
UTC
By Sylvia Porter
Bratton Woods
Chuang Tribune
Chan
Federal
Freserve Bank of St Lows
Schwartz
Jude Wanniski
Polyconomics Inc
Morristown
Wan' Niski
Federal Reserve
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