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This newspaper page contains 11 articles. Subscribers can read the full text of each article.
Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jan 30, 1996
Page
15
General Motors Corp. reports a 1993 fourth quarter net income of 1.9 billion dollars and a full year profit of 69 billion dollars. Earnings per share rise to 1.98 for Q4 and 721 dollars for the year, with revenue up to 168.8 billion dollars.
Shoppers tour shiny new boats at the National Boat Show at Jacob Javits Center as winter-weary buyers resist recession and luxury tax pressures. An industry spokesman notes rising attendance and purchases this month with June trade activity anticipated.
New York report says Pepsi spot showing a thirsty Coke driver stealing a Pepsi won top praise from ad execs for its simple, time tested gag. The ad features Joe Bays and follows a similar previous year Coke swap, with BBDO as Pepsi’s agency.
Washington economists expect the Federal Reserve to trim rates for a third time in under a year amid signs of economic weakness. Analysts also foresee a possible fourth cut before March ends, with a pause likely later in the year. FOMC meets to discuss economy and may announce changes Wednesday.
The Justice Department calls for radical reforms to Nasdaq to curb dealers access to best prices, aiming to level the playing field for individual investors. The 11 page letter to the SEC discusses antitrust concerns and potential lawsuits against Nasdaq and members over alleged price fixing.
Samsung Group announced a $13 billion plan to turn its Samsung Motors unit into a top 10 car maker by 2010. The firm said its first model would debut in Korea and other markets by 1998, with about $24 billion investment by then to reach the goal.
Fragmentary financial ticker text shows mixed symbols and percentages with references to NYSE related items. Includes numbers like 1474 and 19 percent, but overall unreadable. no clear company names, dates, or events can be confirmed.
About 248 consignors sold 777 head of livestock in Creston on Monday. Veal calves brought 80 to 97.50, utilities 40 to 65, bulls 50 to 110, heifers 20 to 145, sheep 68 to 75, feeder lambs 75 to 104, breeding ewes 25 to 30, hogs 40 to 47.75, sows 25 to 36.25, boars 25 to 26. No feeder pigs listed.
Daiwa Bank in scandal era agrees to divest most U S loans and assets to Sumitomo Bank Ltd for 3.37 billion dollars. Sumitomo pays 65 million for Daiwa commercial bank branches in 13 U S cities. A Sumitomo spokesman in New York confirmed contract signing in Osaka.
General Media International owner of Omni and Longevity magazines says print editions are suspended due to missing paper and postal costs. Digital material remains available online. The company also publishes Penthouse and has laid off 31 staffers. paper versions will resume when costs drop.
The Treasury sold 14.1 billion in three month bills at a 5.01 percent average discount rate up from 4.99 percent. The 5.16 percent yield on a 10000 bill and 5.11 percent on a six month bill reflect discounted prices. The Fed reported one year bill yields at 5.03 percent, unchanged from the prior week.
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