Global markets mixed as dollar slips and gold edges higher
The dollar eased versus major currencies in quiet European and Tokyo trade while gold rose internationally. London bullion firms fixed a $478 afternoon price, Zurich and New York quotes rose, and Hong Kong closed with gold at $480.71. US retail sales climbed 0.9 percent in February to $85.8 billion, up about 10% from a year earlier. Seagram offers over $2 billion for St Joe Minerals, prompting takeover chatter. Prudential plans up to $400 million more financing for energy exploration. International Telephone profits soar 89% on timberland sale gains, while Sears and Woolworth report quarterly earnings gains. OPM Leasing files for Chapter 11.
MENTIONED IN THIS ARTICLE
Europe
Tokyo
London
Zurich
Hong Kong
New York
Handy & Harman
Commodity Exchange
Commerce Department
U.S
Prudential
International Telephone & Telegraph Corp
British Columbia
Diversified Communications Conglomerate
Sears
F.W. Woolworth
Economy buoyed as recession fears fade in forecasts
Washington economists lift growth expectations for 1981 citing surprising strength in business activity. Consumer spending remains robust, industrial output and home building exceed forecasts, and momentum could spill into the second quarter aided by upcoming tax cuts. Some analysts question a true slowdown, noting shifts in nonbank financing through the commercial paper market.
MENTIONED IN THIS ARTICLE
Washington
Reagan
Wall Street
Money-market funds near 100 billion milestone
AP Business Writer Chet Carrier reports the money-market mutual fund sector nears the 100 billion dollar mark with assets at 98 billion on March 5 and rising over 2 billion weekly. Growth since year start totals about 25 billion, a 33 percent jump in 10 weeks, prompting fund freezes and higher minimum investments as firms test demand and regulatory limits. Merrill Lynch expands the concept with the Cash Management Account, attracting 200,000 customers in 30 states since 1977.
MENTIONED IN THIS ARTICLE
Chet Carrier
Rowe Price Prime Reserve
William E. Donoghue
Merrill Lynch
CMA
200 Dairymen Meet To Chart Real Dairy Future
About 200 dairy farmers from New York New Jersey and Pennsylvania attended the 21st annual meeting of the American Dairy Association and Dairy Council at Hotel Syracuse. Dr Robert Katz outlined the controversy over dairy foods linking nutrition research to disease risk while stressing ongoing study of dairy products in diet. Turner to present five Service to Dairying awards at tonight banquet and elections to follow tomorrow.
MENTIONED IN THIS ARTICLE
American Dairy Association
Dairy Council
Hotel Syracuse
Robert Katz
Council
Nutrition and Research
New York
New Jersey
Pennsylvania
Katz
National Dairy Council
Robert S. Turner
Jan Gibson
Wstm-Tv
Ronald Harris
Stanley
American Dairy Association and Dairy Council Council
Hotel Syracuse, Inc
New York Uses Tax Breaks to Retain Business Leaders
Albany report shows New York fights to keep headquarters and expansion projects. Programs offer low-cost loans, tax credits, and up to 100 percent property tax breaks. Heluva Good Cheese plans a 1.2 million investment with 35 new jobs, aided by incentives. Governor Carey and Comptroller Regan clash over value, while Hassett cites GE expansion as success. Part five previews leaders' goals versus methods.
MENTIONED IN THIS ARTICLE
Judy Watson
Albany
UPI
New York
Madison Avenue
Jeff Yancey
Heluva Good Cheese Co
Wayne County
Yancey
Job Development Authority
Urban Development Corp
UDC
Hugh Carey
England
Germany
Japan
Edward Regan
Commerce
William Hassett
General Electric
Schenectady
Public on Social Security Trust Fund Finances and Cuts
The piece argues Social Security funds are separate from the general treasury and must pay benefits and admin costs. It notes opposition to benefit cuts, support for using general revenues, and public confusion over debates, urging clear course consistent with protecting workers and the economy.
MENTIONED IN THIS ARTICLE
Reagan
Executive Branch
Capitol Hill
Treasury
Moai
My Tong
U.S
National Commission On Social Security
National Commission
Congress
Also Mentioned on This Page
Business Digest
Joseph E. Seagram & Soris
St. Joe Minerals
St. Joe's
Seagram Company
Bunker Ramo
New York Stock Exchange
Labor-Industry Coalition For International Trade
O.P.M
O.P.M. Leasing Services Inc
U.S. Attorney's Office
Manhattan
C.P.M
Dept. of Labor
Afl-Cio
Raymond Corbett
York
American Association of Retired Persons
By Sylvia Porter
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