Area banks raise prime rate to 12 percent amid wider trend
Banks across the region boosted the prime rate to 12 percent following similar moves by New York and Cleveland lenders. Officials say the rise signals a broader upward trend in rates, with some banks matching the move to stay competitive, while the Fed's discount rate remains unchanged for now.
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Challenger Launch Marks Rare Space Repair Attempt
Cape Canaveral AP Five astronauts aboard Challenger launched into 290 mile high orbit to repair a crippled solar observatory. Commander Robert Crippen led an all rookie crew in a record setting 11th shuttle flight with 11 people in space. The mission carried 3,300 honeybees and 11 tons of experiments including 13 million tomato seeds to be dropped and recovered next year.
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Jobless rate holds steady in March as economy adds jobs
Washington and Columbus report March unemployment steady at 7?8 percent nationwide after a six month decline streak. Ohio rises to 10.2 percent amid a modest payroll gain of about 250,000 and a labor-force increase near 220,000, leaving the overall rate little changed.
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Cox Warns Private Interests Threaten Democracy at College
In Oberlin Archibald Cox, Watergate special prosecutor and head of Common Cause, warned that private money and lobbying endanger representative democracy. He cited Nixon’s tapes battle, praised court action, and urged caps on campaign spending, PAC contributions, and partial public funding to curb influence.
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