Mexico to sign IMF bailout linking oil price to loans
Mexico parents a breakthrough IMF loan tied to world oil prices as the Treasury confirms a deal amid a $98 billion foreign debt. The Times reports potential new loans totaling about $12 billion with funds from US and European banks, IMF, World Bank, and others. Oil’s drop worsens the crisis. PETRICIOLI notes additional money if oil falls below $9 or rises above $14 per barrel.
MENTIONED IN THIS ARTICLE
Mexico City
Mexico
International Monetary Fund
Treasury Department
IMF
New York Times
World Bank
Inter-American Development Bank
The
Times
Inter- American Development Bank
Treasury
Gustavo Petricioli
IMP
Petroleum
Petricioli
New York
Brazil
Kroger to close 100 stores and spin off drug units
Kroger announced a plan to dispose of 100 unprofitable supermarkets and its drug store division, while cutting costs 25 percent at its Cincinnati headquarters. The restructuring aims to focus on food sales, with 891 SupeRx and Hook Drug stores spun off or sold, and proceeds used to reduce debt and repurchase stock.
MENTIONED IN THIS ARTICLE
Cincinnati
Kroger Co
Midwest
South
Kroger
Lyle Everingham
SupeRx
Hook
Paul Bernish
Everingham
Bernish
Union offers wage freeze to USX Corp
Pittsburgh AP report says United Steelworkers propose a wage freeze as USX Corp seeks a 13.5 percent cut for 45,000 workers. A union negotiator warned it will be a freeze or nothing as talks continue in a Pittsburgh hotel. USW President Lynn Williams cautioned that prospects for a new contract look grim beyond the July 31 expiry. Local unions may authorize strike action in support of the union’s position.
MENTIONED IN THIS ARTICLE
Pittsburgh
United Steelworkers
USX Corp
USW
Lynn Williams
Dawson
Fayette County
Pennsylvania
Rates on T-bills drop to 1977 lows
Washington AP reports short term Treasury bills sold Monday at record low discount rates since 1977. Three month bills drew 7.6 billion with an average discount of 5.72 percent, down from 5.78 percent. Six month bills also sold 7.6 billion at 5.77 percent, down from 5.80 percent.
MENTIONED IN THIS ARTICLE
Washington
Treasury
Treasury Department
Creston Livestock Auction Sells 280 Consignors
A Creston livestock sale drew 280 consignors selling 828 head of cattle and calves. Prices ranged from about 10 to 965 dollars for various grades including calves cross breds feeders and beef cattle.
MENTIONED IN THIS ARTICLE
Creston
Abe Creston Anctios
Sidice Oeerey
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Amy Richards
Ss UK Ig
McCals
MerLys
Aepw
ST — Nyaex
Arila
Lal
Vie
BellAti
Ballfoy
Coleco
Ne duPont
Exkodh
Saat Usx Cpl
FedEy
Walt
Wcna. Ag
Ford
Pierre Il Smith
Giltet
Sh Acme Cleve
Alles Corporation
CPC Inter, Inc
A Merson
Excello
First Bancorp St Anterst
Oe Pruehaus
IAM
Goodrich
IC Industries
Kmart
Lear Siegler
KerrMc
LCB Bancorp
LNB Bancorp
Inc
the Times
IBM
Royal Business Equipment
Cleveland St
Elyria
Lorain
Creston Livestock
Niu
Ler
Lake Ave. Elyma, Oe
Dee
Nationwide Bank
HC Tevat
Mx Artest
RIL
Bern
Wwe
Mantas
Serth Randl
Await
Hin
Bane
W York, Horide
FSLIC
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