OPEC Ambition Tightens Prices as Pressure to Raise Output Grows
OPEC faces pressure from loss of market share and speculation of a production boost after the first day of its summer meeting. A world oil benchmark fell more than 50 cents a barrel as officials weigh sending a message to rivals. Marcie Forsyth of Refco Inc. notes market nerves over potential output increases.
MENTIONED IN THIS ARTICLE
OPEC
Organization of Petroleum Exporting Countries
Marcie Forsyth
Refco Inc
New York
Motrin Becomes First OTC Pediatric Ibuprofen Product
The government approved Children's Motrin for nonprescription sale, the first pediatric ibuprofen option for fever and pain in 35 years. It targets children aged 2 to 11 as a berry flavored liquid for common illnesses and pains.
Supreme Court Rejects Major Antitrust Challenge to Visa
The Supreme Court on Monday refused to hear Dean Witter Discover & Co. bid to issue Visa branded credit cards. The decision leaves Visa’s policy intact, keeping Discover out of the Visa network and maintaining market shares led by Visa at 47 percent, MasterCard 34 percent, and Discover at 12 percent.
MENTIONED IN THIS ARTICLE
Supreme Court
Visa
Dean Witter
Discover & Co
Discover Card
MasterCard
American Express
RAM Research Corp
Frederick, Md
Computers highlight Charlotte convention
Nes Computers showcases at the Charlotte Convention Center from today through Thursday as part of the AUTOFACT Southeast Exposition and Conference sponsored by the Society of Manufacturing Engineers. More than 3,000 attendees from automotive textiles metalworking furniture and heavy machinery visit about 60 exhibitors showing manufacturing computer technology. National exhibitors include Cray Research EDS Unigraphics Intergraph Parametric Pritsker and Stratasys. Local firms Comtrex Piedmont Technology Group and Strategic Technologies also attend.
MENTIONED IN THIS ARTICLE
Charlotte
Charlotte Convention Center
Society of Manufacturing Engineers
Cray Research
EDS Unigraphics
Intergraph
Parametric
Pritsker
Stratasys
Comtrex
Piedmont Technology Group
Strategic Technologies
Tokyo Washington deny reports of auto deal
Tokyo and Washington rejected claims of a nearing compromise in the auto trade dispute. Japanese official Tomio Tsutsumi dismissed a Mainichi report about offering concessions while White House spokesman Mike McCurry said talks should move to Geneva. Negotiators will gather in Geneva to avert tariffs.
MENTIONED IN THIS ARTICLE
Tokyo
Washington
Tomio Tsutsumi
Mainichi
Japan
U.S
White House
Mike McCurry
Geneva
First Union to Buy First Fidelity in $5.4 Billion Merger
First Union Corp and First Fidelity Bancorp announce an all stock merger valued at 5.4 billion dollars creating the sixth largest U S banking company with about 10 5 million customers and 2000 offices across 12 East Coast states from Florida to Connecticut.
MENTIONED IN THIS ARTICLE
First Union
First Fidelity
Fleet Financial Group
Shawmut National Corp
New England
New York
Chase Manhattan Corp
Florida
Connecticut
New Jersey
Northeast
Ed Crutchfield
Anthony Terracciano
Family Card Designers Hold Faith and Fortune in Paper Wings
Linda and Tom Barto run Paper Wings a small design and printing company in northern Lincoln County. They shifted from 9 to 5 jobs to full time self employment two years ago and now focus on greeting cards including Flames in the Night aimed at people in stressful times. Her Christian message blends with sensitivity to other faiths as they develop a universal Christmas card.
MENTIONED IN THIS ARTICLE
Lincoln County
Linda
Tom Barto
Central Piedmont Community College
Tom
Barto
Mrs. Barto
IRS probes nonprofit groups for tax exempt misuse
The IRS is auditing nonprofit organizations to ensure tax exempt status is not misused. Targeted groups include hospitals universities and major bodies like the National Rifle Association and AARP as line by line ledgers are reviewed to distinguish royalties from unrelated business income. The NRA was notified of an audit while AARP paid 135 million in lieu of back taxes after disputes over insurer payments.
MENTIONED IN THIS ARTICLE
Washington
Internal Revenue Service
IRS
Tax
Marc Owens
IRS Exempt
National Rifle Association
American Association of Retired Persons
From Hobby to Hire at a Used Book Store
A longtime customer turned employee at Dixie Hughes Books, now six years in the role at Gaston Mall. She loves the people and talking, reads constantly, and admires owner Dixie Hughes. She notes growth, shifts in reading habits, and the constant need for cash flow in a used book shop.
MENTIONED IN THIS ARTICLE
Dixie Hughes
Gaston Mall
Also Mentioned on This Page
Coe
Children’s
Record Bank
Nancy Moore
the Gazette
Carolyn Barnette
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