Inflation cools while business spending picks up
Washington reports that inflation signals ease and consumer prices rise only 0.3 percent in October while durable goods orders surge, boosting business spending and potentially easing Carter’s tax cut decision. Federal Reserve cuts the discount rate to 5.5 percent, revises plant capacity, and IMF caution tempers optimism amid mixed signals for 1977.
MENTIONED IN THIS ARTICLE
Washington
Jimmy Carter
Federal Reserve Board
Fed
Henry
Commerce Department
Carter
Arthu Burns
International Monetary Fund
Johannes Witteveen
Witteveen
Georgetown University Bankers Forum
Labor Department
Pew
Mme Department
Maynard
Comiez
Hill
Arson Suspected in Downtown Office Tower Fire
In Los Angeles investigators say arson started a dramatic blaze on the 20th floor of a five story Occident Tower. About 200 firefighters fought the fire for over two hours with one firefighter injured by falling glass. No civilians harmed. Occident units housed Trans America Financing Corp, with ten offices destroyed and 25 damaged. Total damage about 1.5 million. A second smaller fire in a sub-basement of the same complex caused about 300 dollars in damage. Investigators note possible evidence of flammable materials and potential suspects.
MENTIONED IN THIS ARTICLE
Los Angeles
Arbon
Fire Department
Muskie backs Humphrey for Senate leadership post
Sen. Edmund Muskie of Maine withdraws from the race for Senate majority leader and endorses Hubert H. Humphrey. The field narrows to Humphrey, Robert Byrd, and Ernest Hollings as Muskie cites Humphrey’s leadership. Byrd expresses confidence in his own coalition to win.
MENTIONED IN THIS ARTICLE
Wasitington
Edmund
Muskie
Maine
Senate
Hubert H. Humphrey
Sen
Mike Mansfield
Montana
Humphrey
Robert C. Byrd
West Virginia
Ernest F. Hollings
South Carolina
Minnesota
Hubert
Byrd
Ban on diet pills gaining support
Federal officials say they may order physicians to stop prescribing amphetamines for weight loss. The ban would not bar amphetamine substitutes. experts say abuse is a concern but obesity remains a priority. DEA cites Pennwall smuggling of amphetamine substitutes from Mexico to circumvent controls.
MENTIONED IN THIS ARTICLE
Washington
J. Richarcrout
Bureau of Drugs
Food and Drug Administration
Senate
Crout
Imi
Frederick A. Rody Jr
Drug Enforcement Administr
FDA
Drug Enforcement Administration
Penwall Pharmaceuticals
DEA
Mexico
United States
Indiana
Pennwall
Nuclear cloud from China blast crosses U S this weekend
Seattle report notes a four megaton Chinese explosion created a massive airborne debris cloud. NOAA estimates placed its arrival over Washington at 7 a.m. EST with projected movement toward New Jersey by Monday. Officials urged calm, detailing monitoring of milk and dairy safety while outlining possible protective steps if contamination occurs.
MENTIONED IN THIS ARTICLE
Seattle
United States
Fla
California
People’s Republic of China
National Oceanic and Atmospheric Administration
Washington State
New Jersey
Donald Dubois
Environmental Protection Agency
Washington
Oregon
Iolaho
Alaska
Dubois
NOAA
EPA
Food and Drug Administration
GM labor costs rise $5.8 billion under new agreement
The tentative deal between United Auto Workers and General Motors would add 5.8 billion to GM labor costs, GM labor vice president George B. Morris Jr. said. He projected a 33 percent wage rise for the average hourly worker by 1979, bringing total hourly labor costs above 18 dollars. The settlement ends the shortest auto strike in industry history, with 290,009 GM hourly workers and 60,000 striking earlier that Thursday. UAW President Leonard Woodcock called it excellent. ratification votes were set for early December.
MENTIONED IN THIS ARTICLE
Owen Ullmann
Detroit
United Auto Workers
General Motors
George B. Morris ,Jr
UAW
Leonard Woodcork
Chrysler
American Motors
U.S
Irving Bluestone
South
Eleven Bodies Recovered From Coal Mine Disaster
In Oven Fork Kentucky the 11 miners killed in the Scotia Coal Co explosion were recovered from the mine tomb. Families planned multiple funerals as MESA and the state miner safety agency began reseating a long investigation into the disaster. Rep Carl Perkins blamed federal officials for unsafe conditions and methane buildup.
MENTIONED IN THIS ARTICLE
Oven Fork
Harvey Sturgill
Sturgill
Hazard
Federal Mining Enforcement and Safety Administraion
MESA
State Department of Mines and Minerals
Carl Perkins
Dky
Explosion kills three in Turin Italy
An explosion ripped through a three story building in Turin killing three and injuring eight, authorities say gas leak from the heating system likely caused the blast. A fire followed, windows shattered, area cordoned off. In Rome a bomb damaged the Eppian Embassy to the Vatican door, no injuries.
MENTIONED IN THIS ARTICLE
Turin
Italy
Rome
Vatican
Also Mentioned on This Page
Bette
Ontetense
Nomdetense
HHH
Peta A
Wieephoto
Asrial
Occidental Center
Cal
China
Eolia
MD. Lottery
Baltimore
Maryland
Ed Saon
the Sheraton
Caer
Wil
Paul
Shine
Banzhoff
Hiram Wantz Inc
Downeville Pixe
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