Banks seek to let state banks underwrite securities sparking debate
The FDIC proposes allowing nearly 9,300 banks to underwrite securities if they create separate subsidiaries Glast-Steagall lines would blur between commercial and investment banking, drawing sharp criticism from ICI president David Silver and concerns from Capitol Hill Senator Jake Garn noting Congress weighs options but finds the plan extending beyond current consideration.
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Capitol Hill
Federal Deposit Insurance Corp
Glass-Steagall
David Silver
Investment Company Institute
Silver
Insurance Corporation
Jake Garn
Utah
Senate Banking Committee
Congress
Ford delays Lincoln Continental and Mark VII debut
Ford Motor Co will postpone the 1984 model Lincoln Continental and Mark VII luxury cars due to quality problems with shared components. Gordon MacKenzie, Ford VP, said the two vehicles will debut in early November instead of September 22. The cars are built at the Wixom, Michigan plant.
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Ford
Ford Motor Co
Gordon MacKenzie
Wixom
Mich
Switz’s to break ground on expanded South Bay store
Switz’s will break ground next week for a 40 000 square foot addition at its South Bay Road site, doubling sales space and creating 100 new jobs. Groundbreaking is at 10 a m next Thursday across from the current store in the shopping center between South Bay Road and Route 11.
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Switz's
South Bay Road
Switz
Route 11
Bert Schmidt
Switz’s
Dal Pos
Skaneatetes
Dollar Mixed as Gold Gains Amid Fed Rate Hopes
Persistent U.S. credit anxieties press the dollar on European markets while gold climbs. Traders weigh Fed discount-rate hike as the dollar rises to 2.5730 marks and the pound hits 1.5425, with gold around 422.70 to 425.50 per ounce and silver near 12.01 in London.
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U.S
U.S. Federal Reserve
Tokyo
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AT&T stock faces short term dip ahead of 1984 break-up
Merrill Lynch analyst Leonard S. Hyman says AT&T common stock has underperformed this year but could rise to the 80s in 1984 after the antitrust settlement spurs the eight-split reorganized firms. Uncertainties include American Bell operations and regional unit trading history.
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American Telephone and Telegraph Co
Leonard S. Hyman
Merrill Lynch
At&t
Western Electric
Bell Labs
American Bell
Hyman
Ma Bell
Dow Jones
O.K
New York Stocks End Week Mixed On July 8 1983 Trading
Nationwide composite prices for American Stock Exchange listed stocks show mixed movement with notable entries from Adams Rest, Adobe Ol, AmMd Bldg, Pat, and Ford Canada. Several firms display minor gains while others slip, reflecting a cautious session amid ongoing market fluctuations.
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New York
Nel
American Stock Exchange
Acton
Adams
Bob AdmRus
Asamera
Bergen
Bownee
Caressa
CMI Us
Digican
Petra
Bucoma
Us&r
Elsinore Co
Erresta
Warm Falmont
Fswork BO
FisherPrt
Forest
Aes Tn Granger
Guilford
New York Stock Prices Stand at Close on Friday May 8 1983
UPI reports selected nationwide composite prices for NYSE stocks. The list shows varied gains and losses across many names including diverse industries and major corporations such as Boeing, Bethlehem Steel, Citicorp, and Coca Cola, reflecting the trading activity of the day.
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UPI
New York Stock Exchange
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Tha Lasrwig
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Ae‘pwr
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Am Motors
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Berns
BevivEn
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Boeing
Det
BolseCe
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Uss BostEd
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Brunswick
Bucyrus
ChiGas
Markets steady after Fed rumors and gains trim
A largely flat session saw the Dow rise to 1212.14 in early trading while the NYSE composite edged up 0.01 to 97.21 and Amex down 0.35. Unemployment dropped to 10.0 percent in June as rumors of a Fed rate hike and Brazil debt troubles faded, leaving investors cautious ahead of the Fed money supply report.
MENTIONED IN THIS ARTICLE
Federal Reserve
Brazil
Fed
NYSE
American Stock Exchange
Amex
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