Banks lift prime rate to 10 percent in latest move
Banks raised the prime rate by a half point to 10 percent, the third increase this year, in response to the Fed's higher rates. The move, the first double digit prime since June 1985, will affect loans tied to the rate such as home equity lines and many adjustable mortgages, with broader impacts on consumers and small to mid-sized businesses.
MENTIONED IN THIS ARTICLE
New York
Federal Reserve
Fed
Robert A. Brusca
Nikko Securities Co. International
Treasury
Elizabeth G. Reiners
Dean Witter Reynolds Inc
Brusen
Wall Street
Chase Marhattan Bank
NASA Hopes Stirling Engine Powers Future Cars
NASA Lewis officials describe the Stirling engine as an engine of the future using heat from various sources, including solar or nuclear in space. The design, demonstrated in a Dodge pickup in 1987, has logged about 18 000 miles with hydrogen cylinders and no oil changes, while DOE and NASA invested about 136 million dollars since 1977. The engine aims for niche markets and eventual auto industry reliability before wide adoption.
MENTIONED IN THIS ARTICLE
Cleveland
Robert Stirling
NASA Lewis Research Center
Richard K. Shaltens
NASA Lewis
National Aeronautics and Space Administration
Space Station
Shaltens
NASA
Department of Energy
Air Force Bases
Air Force
Wright-Patterson Air Force Base
Dayton
Mechanical Tech
Drought and inflation push July wholesale prices higher
Wholesale price inflation rose to 5.7 percent in July as clothing, autos, furniture and poultry saw big boosts. Beef prices fell as drought drove herd slaughter, while higher feed costs helped lift overall prices and spark a 0.5 percent July rise, the biggest since March.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve Board
Labor Department
Kidron Auction Strong Hog and Calf Market Report
Kidron consignments to the Kidron Auction Thursday were strong with hogs showing good demand at 46-47 cents for top hogs. Feeder pigs and calves varied in price as dairy cattle and beef markets remained active. Prices covered hogs, calves, cattle, sheep, goats, and feed supplies with hay, straw, and ear corn market data and total head listed.
MENTIONED IN THIS ARTICLE
New York
Novagas
YSE
Owen
AMD
At&t
Artheus
Ouaks SC
Betis
Reebok
CPC
Royld
Ryder
Ori
Tissibs
Ta— & Buabrd
Ulark
Pierre R Smith & Co_ Halbtnt
Hanson
Harnisn
Allied Corporation
Alltel
AmerShip Building
Centeriar
Teifp
S — & Cpc Inter, Inc
RCO SG
Emerson
Intercota
Bancorp
Ce Airi Kerart
Hills Dept. Lilly
Sib LC. Industries
Fisted
Invacare
Agate Lcb Bancorp
LNB Bancorp
Vie AB
Lesco Inc. Se Aa S SD Sy Ag
Fatrthern Savings
Edison
Marck S
Wat He WE. Corp
I — Parker Hannifin
Atsay Smucker oHorean
Bs - Sunrise Medical
Texas Ulities
Stess Woolworth
NS Texat York International
Kidron
Akron area strikes idle 2600 workers in two plants
About 2600 union members in Akron area walked out in two separate actions. 1260 Boilermakers at Babcock & Wilcox in Barberton struck over unfair labor practices amid a two week company vacation and use of nonunion workers. 1400 UAW members at Loral Corp Akron plants walked out after wage and health benefit disputes, with no agreed wage increases and health premium sharing. Loral, former Goodyear Aerospace, is a major local employer with about 4250 workers.
MENTIONED IN THIS ARTICLE
AKRON
International Brotherhood of Boilermakers
Babcock & Wilcox Co
Barberton
United Auto Workers Union
Loral Corp
Charles Mook
Boilermakers
Babcock & Wilcox
Memphis
Loral
Tom Seese
UAW
Goodyear Aerospace Corp
Ex-broker to plead guilty in insider trading probe
William Dillon a former Merrill Lynch stock broker 33 of Old Lyme Conn agreed to plead guilty to wire fraud and to cooperate with a federal probe into trading on advance copies of Business Week. He allegedly bought 129 securities 1986 to 1987 earning about 94000 in profits and must disgorge those gains. Authorities said his mother Elizabeth Baird may disgorge profits but faces no prosecution.
MENTIONED IN THIS ARTICLE
NEW York
Merrill Lynch & Co
William Dillon
Old Lyme
Conn
Manhattan
Business Week
Dillon
Securities of Companies
Wall Street
Connecticut
Giuliani
Dilon
Stanley A. Twardy Jr
Dillion
McGraw-Hill Inc
Business Week Magazine
R.R. Donnelley & Sons Co
Donnelly
Elizabeth Baird
Merrill Lynch
New London, Conn
Also Mentioned on This Page
Nology Inc., of
Latham, N Y
Albert E. Richey
Mechanical Technology Inc
Lewis Research Center
Indy
Kidron Livestock
Mors
Electrical and
Electronic Semiconductor
Rengnue
Bureau of Labor Statistics
Trac
NEA Graphncs
Defense Systems
Regency Electronics Inc
The
Securities and Exchange Commission
Major Stock Exchanges
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