Wall Street rallies as banks cut prime rate
Wall Street posted its strongest rally in over a month with the Dow closing at 1,904.25, up 32.48, aided by computerized program trading and falling rates. Banks trimmed the prime rate to 7.5 percent after the Fed cut the discount rate to 5.5 percent, signaling continued rate easing amid a weak economy and growing foreign trade deficit.
MENTIONED IN THIS ARTICLE
Wall Street
New York Stock Exchange
Federal Reserve Board
Fed
U.S
Grain prices at market close for Lorain County cooperative
The Lorain County Farm Bureau Cooperative Association closing prices show wheat at 1.73 dollars per bushel, shelled corn at 1.51, oats at 0.70, and soybeans at 4.84 per bushel. The listing reflects the local grain market rates for yesterday’s session.
MENTIONED IN THIS ARTICLE
Lorain County Farm Bureau Cooperative Association, Inc
Gov't blocks Eastern sale and eyes revised merger
The government blocked the proposed 676 million purchase of Eastern Airlines by Texas Air Corp citing competition concerns in the Northeast air shuttle market. Texas Air said it remains committed to the merger and expects prompt Transportation Department approval on a revised plan.
MENTIONED IN THIS ARTICLE
Washington
Eastern Airlines
Texas Air Corp
Transportation Department
Frontier Airlines holds pattern as talks with buyers continue
Frontier Airlines, Denver based, remains not filing for bankruptcy as People Express negotiates with potential buyers. Frontier employees number about 4700 after grounding planes amid $10 million monthly losses. United’s stalled talks with pilots and a possible $147 million buyout shape the carrier’s fate amid continued uncertainty.
MENTIONED IN THIS ARTICLE
Dallas
People Express Inc
Frontier Airlines Inc
Frontier Airlines
People Express
Donald C. Burr
Frontier
United
Continental Airlines Corp
Burr
Research adds jobs at Chrysler plant Toledo
A Chrysler R and D fund of 4.8 million aimed to cut part costs and expand output. At the Toledo Machining plant the effort created at least 140 new jobs and a steering column project that added 100 positions while improving torque converters and brake systems. Chrysler officials say the program supports job security and future growth under a 1985 three year contract with the UAW.
MENTIONED IN THIS ARTICLE
United Auto Workers Union
Chrysler
Toledo
Bob Hammonds
UAW Local 1435
Toledo Machining
Pete Cotway
Local 1435
Indianapolis Electrical
Detroit Forge & Axle
New Process
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