Wholesale prices fall as factory output slumps
A September drop in wholesale prices at an annual rate of 1.7 percent signals continued recessionary pressure as factory output remains weak. Analysts note stock trading slowed while weekly volume neared record highs, reflecting divergent market reactions to the mixed data from the Labor Department and economists.
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El Salvador rebels press attack on capital amid clashes
Rebels moved into San Salvador as the fighting intensified across Morazan and Chalatenango provinces. President Magana urged end to bloodshed while an American identified man died in Morazan. Government and rebel claims tallied heavy casualties with roving attacks, power cuts, and seized towns as U.S. reports on support and advisers surface.
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Reagan seeks faster rules to spur new nuclear plants
The Reagan administration proposed regulatory changes to speed reactor licensing and cut the process from about 13 years to seven or eight. Officials say fewer safety upgrades at existing plants and limited public hearings could boost the stalled industry, though opponents call it nuclear boosterism and worry safety may suffer. There are 83 licensed plants and 67 under construction or planned. no new orders since 1978 and 48 plant orders canceled after Three Mile Island.
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Chinese sub launches missiles marks sea power rise
Tokyo reports Chinese atomic submarine test fired ballistic missiles for the first time this week, making China the fifth country with nuclear powered subs armed with missiles. The launch, if confirmed, could shift U S Soviet relations and Asia power balance, per Yomiuri citing defense sources. An unspecified number of missiles were launched from the East China Sea, signaling a move toward an ocean attack capability.
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Four Japanese seek office in LDP leadership race
In Tokyo four Liberal Democratic Party members entered the race to become party president, a post that elects the prime minister. Premier Zenko Suzuki, 71, said he would not seek another term, prompting a partywide contest with candidates Yasuhiro Nakasone, Toshio Komota, Shintaro Abe, and Ichiro Nakagawa. The nomination rules require at least four candidates and a later parliamentary choice among the top three vote-getters.
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