Global Markets Mixed As Dollar Strengths Push Currencies
The dollar rose against key currencies in early trading, with the yen at 229.05 and the pound near $1.854. Gold and silver advanced in Europe and London, while U.S. retail sales edged up 0.4 percent in September to $88.8 billion. Major companies like Carborundum relocate HQ to Cleveland, and several firms report mixed Q3 earnings as inflation and energy costs press margins.
MENTIONED IN THIS ARTICLE
U.S
Europe
Tokyo
Zurich
London
Commodities Exchange
New York
Handy & Harman
Commerce Department
Flexibility sought Insurance industry upheaval
Life policyholders cash in and borrow from policies amid a shift in the market. Loans rise from 35 to 45 billion as investors seek 18 percent returns in money funds, while traditional whole life wanes and term and universal life gain ground. Industry figures warn buyers to weigh after tax benefits and coverage needs as universal life emerges but remains less profitable for firms.
MENTIONED IN THIS ARTICLE
Andrew Leckey
Field News Service
Harold Skipper
Georgia State University
Treasury
Universal Life
IRS
Term Insurance
Walter N. Miller
New York Life Insurance Co
E. F. Hutton Life Insurance Co
Skipper
Rates and Money Supply Spur Mixed Market Signals
Banks cut the prime rate to 18 percent while Treasury bills and bonds moved higher. Economists warn rapid money-supply growth could push inflation and delay further rate declines. The mixed moves reflect delayed rate transmission and lenders’ caution about the money stock.
MENTIONED IN THIS ARTICLE
Associated Press
Treasury
Timothy Howard
Wells Fargo Bank
San Francisco
Henry Kaufman
Salomon Brothers
Howard
IBM stock tumbles as earnings dip on currency losses
IBM earnings drop 21.6 percent to 693 million in Q3 due to foreign exchange losses. IBM stock fell 1.75 to close at 53.75 as the dollar strength hurts overseas income and expenses. Analysts say weakness is currency driven though IBM's core business remains solid.
MENTIONED IN THIS ARTICLE
Merrill Lynch
First
Chicago
Irving Trust
Bank of New York
International Paper
Reynolds Metals
Armone
International Business Machines Corp
Steve Dube
Dean Witter Reynolds
Dube
IBM
New York Stock Exchange
John R. Opel
Opel
George Elling
Bear, Stearns & Co
Cornell scientists making things ultrasmall
Cornell University researchers led by Edward Wolf push microfabrication to the atomic scale. The team converts theory into devices at angstrom and micrometer levels, aiming for faster, smaller electronics decades from market. The NSF supported Cornell’s five year, 6.5 million dollar center fostering basic microelectronics research and cross‑institution collaboration.
MENTIONED IN THIS ARTICLE
Encyclopaedia Britannica
Wolf
National Research and Resource Facility
Ithaca
National Science Foundation
Cornell
Bell Laboratories
Japan
Cornell Center
Wolf and Company
Part timer earns better life in retail job growth
Jack Gallegos, 72, swapped pension stress for a four hour daily inventory clerk role at $5.20 an hour, nearly doubling income. The piece promotes extra part time work from apartment management to market research and event ticketing, offering guidance and ads for a self help pamphlet.
MENTIONED IN THIS ARTICLE
Jack Gallegos
Jack
Eetopray P.O
Dept. B
New York
Your Money's Worth Your Money's Worth
Sylvia Porter warns that the booming market for stolen goods means shoppers face rising risk of unknowingly buying stolen items. Laws tightening around used-item dealers aim to track origin and buyers, and courts increasingly punish theft and related crimes. Even with receipts, households may hold stolen or misattributed property.
MENTIONED IN THIS ARTICLE
Sylvia Porter
The Rising Tide of Stolen Goods and Its Price on Buyers
The piece argues that organized crime now traffics diverse stolen items from art to church relics, with confiscation leaving buyers as losers. It cites a 15th century Durer painting case, calls for restitution to East Germany, and notes global thefts affecting libraries, museums, and churches. It emphasizes buyers risk losing money and reputation regardless of innocence.
MENTIONED IN THIS ARTICLE
Albrecht. Durer
MCN
Peru
Columbia University
New York
New York Area
Che
Also Mentioned on This Page
Business Digest
Niagara Falls
Carborundum Co
Cleveland
Kennecott Corp
Comany
Kennecott
Stamford, Conn
Carborundum
Kesco
John Hancock Mutual Life Insurance Co
Stephen Duniee
Kingman
Liverpool
Duniec
Concord Hotel
Kiamesha Lake
al Desorbo
Bruce Timm
Joe Ancilloli
Larry DeCicco
Sam DeMario
Andy
Vic Awad
Cheryl Festa
Michael ‘Amodia
Roger B. Smith
Source
American Council of Life Insurance
Ottawa
Ontario
Patrick
YOUNG
Newhouse
Edward Wolf
Cornell University
Joseph M. Ballantyne
School of Electrical Engineering
Dan Ramsey
Newspaper Enterprise Association
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