Personal income up 0.3 percent in August
Ameri cans' personal income rose a modest 0.3 percent in August, the smallest gain since March, while personal consumption spending increased 0.7 percent. The report contrasts weak income with hopeful spending as some other government data show declines in retail sales, industrial production, and housing starts, fueling doubts about a recovery timeline.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
Agriculture Department
America
Department
Gold prices tumble across New York London and Zurich
Gold fell sharply in New York and Europe with early declines of up to 8 dollars an ounce and further drops later, trading around 423.50 in New York and 434.75 in London. Silver also declined, while the dollar showed mixed moves against major currencies. Officials warn recovery may hinge on August and September indicators and farm income shows widening pain among smaller farms.
MENTIONED IN THIS ARTICLE
New York
Europe
Handy & Harman
Zurich
London
Hong Kong
U.S
Tokyo
Atlantic Richfield Wins Oil Drilling Rights Off China Coast
Peking grants ARCO permission to drill for oil off Hainan Island in a four year negotiated contract with Santa Fe International as partner. The 3,500 square mile area reportedly holds 20 promising geological structures and is described by ARCO officers as likely the longest unexplored virgin coastline.
MENTIONED IN THIS ARTICLE
Peking
Atlantic Richfield
Hainan Island
Santa Fe International
Arco
UPS Goes Airborne In Overnight Package Push
UPS launches Next Day Air using 25 jets and 55 000 trucks to target 24 metropolitan areas. Competitors Federal Express Emery Worldwide and United Airlines see room for growth in a $2 billion market. UPS promises noon-to-3 PM delivery with hub sorting in Memphis Columbus and Louisville.
MENTIONED IN THIS ARTICLE
United Parcel Service
Federal Express
Emery Worldwide
Philip G. Golbitz
United Airlines
Air Express
UPS
United Air Express
Air
Emery
Federal
Dan Buckley
Greenwich
Conn
Syracuse
New York City
Robert Sikes
Brandon Davis
Davis
Federal’s
Memphis, Tenn
Emery’s
Columbus
Ohio
Ups's
Louisville, Ky
Lower interest keyed to money supply
Economists say weak economy and tame inflation favor lower rates but dealers warn that money supply growth and budget deficits could interrupt the trend. A Fed firming move may come if money supply continues to rise, with October seen as possible if liquidity tightens.
MENTIONED IN THIS ARTICLE
Michael Quint
New York Times
Federal Reserve
Fed
Philip Braverman
Chase Manhattan Bank
Capital Markets
Lacy Hunt
Fidelity Bank of Philadelphia
New Directory Aids Small Firms Across New York Agencies
New York State Commerce Department publishes the New York State Purchasing Directory of Small Service Businesses. Nearly 12 000 firms are listed including 1 017 minority owned and 924 women owned. Workshops help small firms bid on state service procurement.
MENTIONED IN THIS ARTICLE
New York State
State Commerce Department
Commerce
George G. Dempster
Commerce Department
New York
State Office of General Services
Central Purchasing Office
Small Business Services
Zero Coupon Bonds Rise In Popularity Among Savers
The piece explains zero coupon bonds or goose eggs sold at deep discounts and redeemed at face value at maturity. They require no periodic interest payments. taxes accrue yearly, though. Longer maturities span six to ten years with example costs around 250 to 520 dollars per 1000. Tax advantages apply for IRA or Keogh accounts where taxes are deferred until retirement.
New Tax Free Bonds and Risky Zero Coupon Options
The piece explains tax free zero coupon bonds from municipal authorities like the Virginia Housing Development Authority, TIGRS by Merrill Lynch, floating rate municipal bonds, zero coupon insured CDs, and warns investors about issuer risk, secondary market prices, and tax consequences under Gifts to Minors Act. It cautions buyers to beware of long horizons and credit ratings.
MENTIONED IN THIS ARTICLE
Virginia Housing Development Authority
Treasury
Merrill Lynch
U.S
E.F. Hutton
Also Mentioned on This Page
Syracuse Herald-Journal
Hal
Joseph J A. Porcello
China
Florida Bank Control
Florida National Banks
Florida National
Florida
Landmark Banking
Southeast Banking Corp
Southeast Banking
Mexico
United States
Taiwan
South Korea
Rio Grande
General Electric Co
Workers’ Union
Dan
International Union of Electrical Workers
Reagan
Soviet Union
Siberia
West Germany
General Motors Corp
Harrison Radiator Division
Buffalo
Chevrolet Motor Division
Tonawanda
Toyota
Japan
Toyota Motor Co
Ward
Christopher Lindsay
Securities Dealers Co
Federal Funds
Federa
Alwoagh
Sylvia Porte
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