Gold prices dip amid quiet world trading and Exxon ruling
Gold opened higher in London and Zurich then fell as markets stayed subdued. Prices in London fixed at 412 to 413 an ounce while Zurich opened at 412.50 and later slipped. In New York Handy & Harman quoted 409.30. Silver eased in London to 10.42 with New York at 10.40. Exxon was ordered to reimburse a record 895.5 million under the 1973 Emergency Petroleum Allocation Act for misclassified oil from Hawkins field. Airlines under federal grand jury probe for antitrust violations linked to Laker Airways and others were named, with Pan Am and TWA cited. The EC contested a US ruling on steel imports injuring domestic producers. USITC said 373 million in stainless and alloy steel imports harmed the industry. The EC pledged to monitor ties with the Reagan administration to defend community interests.
MENTIONED IN THIS ARTICLE
London
Zurich
Hong Kong
New York
Handy & Harman
Exxon Corp
Texas
U.S. District Court
Thomas Flannery
U.S
Exxon
Flannery
Hawkins Field
Justice Department
Department
Mark Sheehan
Sheehan
Laker Airways
Pan American World Airways
Trans World Airlines
Pan Am
TWA
European Economic Community Commission
Commission
US International Trade Commission
Reagan
European Commission
Rates to customers vary by bank and may differ
Customer rates listed here are approximate and can vary from bank to bank. The figures reflect typical ranges seen across lenders but are not guaranteed. © Historical Finance Desk.
Fed meets to set rate targets amid money supply growth
The Federal Open Market Committee plans to decide on potential short term rate hikes as money supply expands faster than target. Analysts cite weak economic momentum and potential policy caution, with market prices reacting to anticipated moves and forthcoming Treasury auctions.
MENTIONED IN THIS ARTICLE
Federal Open Market Committee
Fed
Treasury
Federal Reserve
Eliott Pla
Donaldson Lufkin & Jenrette Securities Corp
Platt
Modest Rise in Domestic Machine Tool Orders Amid Import Pressure
New orders for domestic metal cutting and forming machine tools edged up 6.7 percent in February to 98 million dollars from January, yet lagged 1982 levels. Shipments rose 3.7 percent to 158.5 million, but stayed well below prior-year figures. Foreign imports and shrinking backlogs cloud the sector’s outlook as analysts warn of a tough 1983 for American tool builders.
MENTIONED IN THIS ARTICLE
National Machine Tool Builders’ Association
James A. Gray
Gray
Geoges Bank oil drilling leases sale halted by judge
A Boston federal judge blocked the sale of oil drilling leases on about 2.8 to 3 million acres in Georges Bank off New England. Massachusetts officials and environmental groups sought the injunction, arguing EPA recommendations were ignored and that the Interior and Commerce departments violated environmental laws. The order halted the sale pending a full memorandum, with no timetable set for the merits ruling.
MENTIONED IN THIS ARTICLE
Boston
Rich Georges Bank
New England
U.S. Environmental Protection Agency
EPA
U.S. District Court
David A. Mazzone
Mazzone
Helen Costello
Associated Press
Stephen Leonard
Gleonard
Interior Department
Circuit Court of Appeals
Leonard
Francis X. Bellotti
New York
Massachusetts
Federal Interior and Commerce Departments
The
Conservation Law Foundation of
Environmental Protection Agency
Interior and Commerce Departments
National
Hernandez
Washington
Interior
James G. Watt
Watt
State Attorney General's Office
Conservation Law Foundation
Consumer Groups on the March Again in 1990s Climate
The piece argues a revived consumer movement could last into the 1990s, fueled by distrust of powerful special interests and the need to stretch dollars. It critiques past activists for self-interest and notes a push for a federal consumer protection agency, facing business resistance and citizen ambivalence.
MENTIONED IN THIS ARTICLE
Federal
Consumer Protection Advocacy Agency
New Consumer Movement Arising After Past 1970s Setbacks
The piece surveys 1970s consumer efforts and their defeats. It cites attempts to funnel federal funds to activists, ban child advertising, and expand FTC rulemaking, noting industry and consumer clashes. It warns against anti business dogmatism while welcoming a renewed consumer movement and potential benefits.
MENTIONED IN THIS ARTICLE
Federal Trade Commission
PTC
FTC
Federal Trade Com
Also Mentioned on This Page
ECC
Philip Braverman
Chase Manhattan Bank
Capital Markets Report
Henry Kaufman
Salomon Brothers
Kaufman
Soe
Individt
Inssurans
Cage Tabung Cran
Dapanmert
Nate
Reunheg
Georges Bank
Environmental Policy Act
Cape Cod
John Hernandez
AP Laserphoro Shell Oil Co
Ho Hurn
Busi
Ness
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