Global markets digest mixed signals as dollar slips
The dollar declined against major currencies in European trade amid profit taking while gold rose across London Zurich and New York. Reports hint at a merger among Onondaga Oil Buckley-Southland and Mohawk Valley Oil with details on fuel and lubricant distribution.
MENTIONED IN THIS ARTICLE
U.S
London
Zurich
Europe
Hong Kong
Commodity Exchange
New York
Comex
Onondaga Oil Co
Marcellus
Buckland-Southland Oil Co
Marcy
Buckley-Southland
Onondaga
Accordsno Reports
Mohawk Valley Oil
Cross border power links deepen Canada United States ties
Canada and the United States expand electricity links across the border surging two way energy trade toward over 10 billion dollars by decade end. New lines from Massena to Marcy strengthen New York State Power Pool and PASNY hydro exports while a 345 kv line would improve Canadian power routing. Health impact studies on 765 kv lines continue with no proven adverse effects reported.
MENTIONED IN THIS ARTICLE
Canada
United States
John Dyson
Power Authority
Niagara
St. Lawrence
State Power Pool
Marcy
Utica
Massena
Power Pool
New York
State Power Authority
Massena-Marcy
Stephen Schoenholz
The
New York City
Bryan Gosling
Association
PANSY
Penn Central and Colt weigh merger proposal
Directors of Colt Industries and Penn Central meet to consider a plan for Penn Central to acquire Colt and integrate it as a subsidiary. Stock moves premeeting showed Colt up to 63.25 and Penn Central down to 45.63 as NYSE halted trading awaiting the joint announcement.
MENTIONED IN THIS ARTICLE
Penn Central
Colt Weigh Merger
Colt Industries
Penn Central Corp
Colt
Crucible-Trent Group
Syracuse
New York Stock Exchange
Coll
U.S
Conrail
GE Technologies Inc
Crucible
Trent Tube
Pittsburgh
Vincent H. Callahan
Crucible Special Metals Co
Second-quarter GNP shows slowing economy and potential recession
The Commerce Department reports inflation-adjusted GNP fell 1.9 percent in Q2, with output slipping below zero growth after a strong Q1. Final sales and exports sagged, housing and auto sectors faltered, and personal income rose just 0.6 percent in June amid a cautious outlook and debate over recession chances.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
Michael K. Evans
Evans Economics
Allen Sinai
Data Resources Inc
Lexington
Mass
Sinai
Chrysler posts profit after federal loan lifeline
Chrysler Corp reports its first profit since 1978 boosted by a $1.2 billion government loan guarantees. Spokesman Bill Stempien cites a “fantastic turnaround” as Omn i Horizon and K car sales improve. Lee Iacocca to disclose details in a National Press Club speech.
MENTIONED IN THIS ARTICLE
Washington
Chrysler Corp
Bill Stempien
Chrysler
Lee Aiacocca
National Press Club
Stempien
American Motors Corp
Postal Service Pricing Itself Out Of Business
A historical perspective laments rising USPS costs and stagnant service while predicting a shift to private electronic and courier services. It cites past price jumps, labor costs, and potential obsolescence as technology and private firms offer faster, cheaper mail alternatives. The piece envisions a future where postal workers retire as mail moves online and via private networks.
MENTIONED IN THIS ARTICLE
Postal Service Pricing Itself
Benjamin Franklin
Franklin
Pony Express
Arharne
Postal Service
General Teléphone & Electronics
Telenet
Telemail
U.S
Jeter
Also Mentioned on This Page
Business Digest
General Motors Corp
Chevrolet
Tonawanda
Ford
Woodlawn
Thomas Fricana
United Auto Workers
Citicorp
LTV Corp
Dow Chemical
Lehering- Plough
American Express
Kellogg Co
Polaroid Corp
Nxxon Corp
Chase Investment
Chase Manhattan
Equimark Corp
Chase
New York State
Fortune
Penn Central Transportation Co
Iacocca
Greyhound
Purotator
Federal Express
United Parcel Service
Postal Service Board
William J. Sullivan
By Sylvia Porter
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