Bond rally sparks stock surge to new Dow closing high
New York AP reports a government bond rally fueling a broad stock market rally. The Dow Jones industrial average climbed by 69.89 points to finish at a record closing of 2,390.34, marking its largest one day gain.
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New York
DJIA
Trade imbalances and Latin debt top finance ministers talks
Washington AP reports that trade deficits and Latin American debt dominate the IMF and major economies meetings. Brazil aims to outline a five year growth plan including debt restructuring while the six nation currency pact held from Paris is to be renewed and tested for effectiveness amid a weak dollar and high trade gaps.
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United States
International Monetary Fund
International Organization
Brazil
Paris
Japan
West Germany
Britain
France
Canada
Pilots Offer 4.5 Billion to Buy United Airlines
United Airlines pilots propose a 4.5 billion bid to acquire UAL Inc outlining a plan to improve service safety and profitability. The offer includes 300 million from pension funds and a mix of cash notes and assumed debt to cover the remainder.
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United Airlines
Chicago
UAL Inc
Richard J. Ferris
James Damron
UAL
Matt Gonring
Supreme Court orders Texaco bond posting in Pennzoil case
The Supreme Court voided a federal ruling that Texaco could post 1 billion in security and avoid a 12 billion bond. By 9 to 0, the justices sent the matter back, noting Judge Brient should have abstained rather than reducing the bond. The constitutional question remains to be resolved by Texas courts on appeal.
MENTIONED IN THIS ARTICLE
Washington
Supreme Court
Texaco Inc
Pennzoil Co
Texaco
Texas
U.S
Charles Brient
White Plains
N.Y
Lewis F. Powell
Powell
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