Gold futures rise amid OPEC accord and rate shifts
Gold climbed to about 436.25 an ounce in Zurich as OPEC ministers agreed on price and output quotas, with other centers in Hong Kong London and New York showing gains. Silver eased in London while U.S. rates for six month certificates rose, lifting savings and loan yields and affecting money markets. The dollar slipped on the news, while Ford recalls nearly 100,000 cars and Carborundum contemplates Niagara Falls plant cuts threatening hundreds of jobs.
MENTIONED IN THIS ARTICLE
Zurich
Organization of Petroleum Exporting Countries
London
Hong Kong
New York
Handy & Harman
Treasury
Savings and Loan Associations
S&ls
Tokyo
Europe
Bank Customer Rates Vary By Institution
The rates offered to customers can differ across banks with customer rates shown here as approximate values for reference.
Money revolution nears as financial supermarkets emerge
New York faces a potential financial revolution where banks insurers brokers and stores form one stop shops for credit cards and investments. Experts warn state rules lag behind rapid deregulation and telecom driven mergers, urging harmonized oversight and clearer consumer protections.
MENTIONED IN THIS ARTICLE
New York
Allan Grady
Coopers & Lybrand Financial Service
Albany
Sears Roebuck and Co
Allstate
California
Dean Witter Reynolds Inc
Industrial output continues upward amid modest February gain
February production at U S factories and mines rose 0.3 percent led by consumer goods and defense equipment, extending a three month upturn but well below January’s 1.3 percent jump. White House officials noted weather boosted early figures while economists warned against premature optimism.
MENTIONED IN THIS ARTICLE
Federal Reserve Board
White House
Larry Speakes
Martin Feldstein
Dustry
Federal Reserve
Britain
Central Statistical Office
Italy
Government Statistical Institute, Istat
Istat
Steel executive aims to revive Lackawanna Bethlehem plant
Kenneth EB Lipke, steel executive, says he can attract investors to join a community takeover of Bethlehem Steel Corp plant in Lackawanna. He has raised 5 million dollars plus an undisclosed amount and partners with Lawrence Reger of Mader Capital. If shutdown proceeds as planned in 1983, 7,300 Lackawanna jobs and 8,000 related positions would be lost. Lipke predicts a 50 50 chance of success, with his son Brian Lipke set to chair Gibraltar Steel Corp and join a six member leadership team.
MENTIONED IN THIS ARTICLE
Kenneth Lipke
Steel
Lackawanna
Bethlehem
Kenneth EB. Lipke
Bethlehem Steel Corp
Buffalo
Lipke
Gibraltar Steel Corp
Apple
Newark
Lawrence Reger
Mader Capital Inc
Brian J. Lipke
Gibraltar
Foreclosure rate hits record high as 1982 ends
The Mortgage Bankers Association reports 0.67 percent of over 27 million home loans in foreclosure at end of 1982, a record since 1953, with about 180 000 borrowers affected. Rate for past due loans 30 days or more rose to 0.7 percent in Q4 and new foreclosures started in Q4 held at 0.22 percent.
MENTIONED IN THIS ARTICLE
United States
Mortgage Bankers Association of America
Mark J. Riedy
Riedy
Also Mentioned on This Page
Ford
Ford Motor Co
The
Carborundum Co
Niagara Falls
Buffalo News
Doug G. Miller
United Press International
American Express Co
Shearson Loeb Rhoades Inc
Prude
Roger Kubarych
Federal Reserve Bank of New York
Grady
Jonathan Brown
Washington
Public Interest Research Group
Brown
Kubarych
Assemblyman Lasher
Steel Executive
U.S
Chicago
Tihune Griganne
Lragin of Savings and Loan Associations
Congressional House
House
Senate
Mortgage Bakers Group
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