OPEC ministers deadlocked over production plan in Geneva
OPEC oil ministers met privately in Geneva seeking a breakthrough on a plan to lift world oil prices by about four dollars a barrel. They postponed a plenary session, with Saudi Arabia to propose new production cuts amid divided views on exemptions for Ecuador and Gabon and on rebuilding a common pricing system. Prices have plunged from a year ago, with the group aiming to lift prices to at least eighteen dollars while debating cuts and distribution among members.
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OPEC
James Audu
Audu
Saudi Arabia
Organization of Petroleum Exporting Countries
Iran
Iraq
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Citicorp unveils instant money transfer service
Citicorp announces Citicorp Express Money Services a 24 hour system to move money worldwide in 15 minutes at about 20 percent less than Western Union. Citicorp executive says it targets everyday use by consumers and small businesses while Western Union counters with its century-long presence and high customer ratings.
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Chicago
Citicorp
Robert Terkhorn
Citicorp Global Payments Products
Western Union
Edward J. Fuhrman
Consumer Services
Terkhorn
Citicorp Express Money Services
Reagan Plans Sale of Amtrak Northeast Corridor
Reagan proposes selling Amtrak s Northeast Corridor from Washington to Boston while keeping the rest of the system. The sale could bring over 1.5 billion dollars, with ongoing urban transit cuts and redistributed federal gasoline tax revenue to local areas.
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New York Times
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Times
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Urban Mass Transportation Administration
the Times
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Chemical N.Y. Texas Bancshares to merge deal worth over $1.1 billion
Chemical New York Corp and Texas Commerce Bancshares Inc agreed to merge in a deal valued at about $1.19 billion, creating a holding company with $75 billion in assets. The plan, pending regulatory and shareholder approval, would boost Chemical’s assets and place the combined firm among the nation’s top five in size.
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NEW York
Chemical
New York Corp
Texas Commerce Bancshares Inc
U.S
No. 1 Citicorp
BankAmerica Corp
Chase Manhattan Corp
Manufacturers Hanover Corp
Texas
Texas Commerce Bancshares
Federal Reserve Board
Ken Herz
Chemical New York Corp
Chemical Bank
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