Dollar declines after record highs in Europe and tax cut cheers
The dollar fell against major European currencies after record highs against the French franc and Italian lira. Gold prices rose with regional quotes in Hong Kong Zurich London and New York. The government reported a 17.2 percent drop in new single family home sales in June to an annual rate of 408,000, with prices up to a record 88390. Higher interest rates are blamed for the housing weakness. Bank of Canada raised its discount rate to 20.54 percent and Mercantile Bank of Canada lifted its prime rate to 22 percent. Nabisco Brands reported a 1.2 percent rise in Q2 profits to 52.3 million. Pittston Co. posted a 27.4 million loss. Executives announced new appointments at Atlas Linen Supply Empire Airlines Magnavox CATV Systems Nortrup & Toel and related firms.
MENTIONED IN THIS ARTICLE
U.S
Reagan
Hong Kong
Zurich
London
New York
Handy & Harman
Departments of Commerce and Housing and Urban Development
Regional air fare war heats up between Syracuse and NYC
Airlines slash fares from Syracuse to New York City and other routes led by USAir and People Express. USAir cuts Newark routes to 23 dollars one way after 7 p.m. weekdays and all day on weekends, with Kennedy and LaGuardia fares also reduced after 7 p.m. Empire Airlines notes price shifts and competition, while American plans no immediate action.
MENTIONED IN THIS ARTICLE
Joseph A. Porcello
Syracuse
New York City
Usair
Allegheny
York City
Newark International
Way of
Newark
People Express
Hancock International
Kennedy International
Empire Airlines
American Airlines
Frank Galke
American
Empire
Kennedy
LaGuardia
Galske
New York
la Guardia
Washington- Baltimore
Buffalo-Niagara Falls
Boston
Norfolk-Virginia Beach
Florida
Jacksonville
Columbus
Ohio
Farm Equipment Rebates Spur Dealers Amid Slowing Sales
U S farm machinery makers led by International Harvester push big buyer incentives to unload tractors combines and harvesters as dealers stock showrooms. Rebates reach 500 to 7000 dollars with parts coupons up to 10000, while finance offers and below market rates aim to bolster a market hit by high interest and sagging prices.
MENTIONED IN THIS ARTICLE
New York Times
Chicago
International Harvester
Harvester
Emmett Barker
Farm and Industrial Equipment Institute
Gas glut stalls auto model planning
Detroit reporters describe how GM Ford and AMC face uncertain demand for ultra efficient cars as gasoline prices hover around 140 per gallon. Executives warn the future market is unpredictable and plans to build very fuel efficient subcompact models may be delayed or scaled back.
MENTIONED IN THIS ARTICLE
John Holusha
New York Times
Detroit
American Motors Corp
Gerald Meyers
Meyers
Donald E. Petersen
Ford Motor Co
Petersen
United States
Harold K. Sperlich
Chrysler Corp
Paul Root
General Motors Corp
General Motors
Du Pont Clears Path in Conoco Takeover Battle
The Justice Department approves a 7.3 billion Du Pont Conoco merger while requiring sale of Conoco's interest in a Chocolate Bayou Texas petrochemical venture with Monsanto. Mobil bids 8.2 billion but faces antitrust concerns as the bidding war unfolds.
MENTIONED IN THIS ARTICLE
New York
Justice Department
Conoco Inc
du Pont Co
du Pont
Conoco
Monsanto Co
Chocolate Bayou
Texas
Richard J. Pavaretto
Antitrust
Department
Pavaretto
Mobil Corp
Mobil
John Plint
Edward G. Jefferson
Monsanto
Jefferson
Saving tax cut money by treating it as an expense
The text urges treating the tax cut extra as an unavoidable expense and paying yourself first. It suggests automatic payroll or bank transfers, special purpose accounts, or even a home piggy jar to accumulate savings, emphasizing discipline to build long term totals rather than spending.
MENTIONED IN THIS ARTICLE
Reagan
Conference Board
IRS
U.S. Treasury
TRS
Also Mentioned on This Page
Business Digest
Canada
Bank of Canada
Mercantile Bank of Canada
Nabisco Brands Inc
Naisco Inc
Standard Brands
Pittston Co
Atlas Names
Butler
James L. Butler
Atlas Linen Supply Co
Atlas
Ithaca
Rochester
C. Matthew Strong
Central New York
Hancock Field
Salvatore U. Yorks
Magnavox Catv Systems Inc
Manlius
Cornel P. Bleyer
Minaa
Nortrup & Toel Inc
Pittsford-Syracuse
Hachester
Yorks
Bleyer
Massey-Ferguson
Allis-Chalmers
Ford
White Motor
John Deere
Jr. Case
Tenneco
Robert Greene
J.J. Case
Case
By Sylvia Porter
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