Site icon Iran Human Rights Documentation Center

What’s News: Business and Finance World-Wide

          
          W hat's 1/e s: Business and Finance World Wide
          all n Jou nc l(D23 n 112), / a I
          FicQ tII 2 t e/ I tr t 1 r ( b).-
          pg 1
          What's News
          Business and Fi,wnce
          D ERSONAL INCOME increased a
          moderate 0.6% last month to $1,829
          trillion annually after rising 0.3% in
          January. Mare robust growth had
          been expected in February because of
          sizable employment gains. The small
          mcrease could contribute to continued
          lackluster gains in retail sales, which
          would retard economic growth.
          (Stnry no Pngn 31
          * * *
          A federal debt limit increase
          wasn't considered in the Senate, mak
          lug it likely the Treasury will have to
          pnctpnne tomorrow's auction of 2Y R
          billion of two year notes. The Senate
          is expected to consider a bill tomor
          row raising the limit.
          (Story on Pa n 31
          * * *
          AT&T reported a 9% rise in profit
          for the three months ended Feb. 28 to
          $1.3 billion, or $1.89 a share, on an 11%
          increase in revenue to $10.7 billion.
          (Story P it 21
          * * *
          Savers with small accounts would
          be able to earn higher interest under a
          proposal by the U S League of Say
          ings Associations It suggested lower
          lug to $100 from $1,000 the minimum
          deposits for longer term savings cer
          tificates, those with maturities of one
          year or more.
          (Story on Pn e 6
          * * *
          The wage and price council nearly
          completed its work on issuing ant i in
          flation guidelines, expanding their
          coverage to financial institutions and
          others. It began to concentrate on the
          more difficult tack of pnhrrng them
          (Story on PO n (
          * * *
          Carbon Fuel was granted its re
          quest for high court review of an ap
          peals court ruling that the UMW and
          its District 17 couldn't be forced to pay
          damages for 48 unauthorized strikes
          by local union members from 1969 to
          1973 1StOrY on PO n 41
          * * *
          An ICC o er that railroads must
          share with freight car owners the fees
          they collect from shippers who detain
          cars was left standing by the Supreme
          Court
          (5(0 y on Pose 41
          * * *
          Southern Railway and the Norfolk
          & Western presented the ICC with a
          lengthy list of properties they would
          like to buy to protect themselves from
          possibly being hurt by the planned
          merger of the Chessie with Seaboard..
          (Story on Po e St
          * * *
          Mack Trucks, a Signal Cos. unit,
          agreed to sell a 20% equity interest to
          Renault Vehicules Industriels for $115
          million. The move is part of a plan for
          Mack to sell the Renault unit's medi
          um 'duty diesel trucks in North Amer
          ica.
          (Story on Pogn 71
          * * *
          Charter Co. said that it acquired
          20% of financially troubled Carey En
          ergy Corp. for $4 million anà that it
          tentatively agreed to purchase the
          rest of Carey for cash or stock.
          I$bry o Pogn (it
          * * *
          Weiltech said units of Bechtel and
          Hanna Mining bought or contracted to
          buy about 27 4% of its shares from
          certain holders Also, the subsidiaries
          plan a $39 a share tender offer for the
          rest of the stock
          (Story on Pagn 151
          * * *
          Futures tradIng experts said that
          although the Chicago Board of Trade
          won two court battles with the Corn
          modity Futures Trading Commission,
          the long run outlook Is for more stnn
          gent regulation of the Industry.
          (Story on P g 151
          * * *
          Wiscope SA., a Swiss subsidiary of
          Lendon's Gulness Peat, was barred by
          the CommodIty Futures Trading Corn
          mission from trading on U.S. corn
          modlty exchanges until It agrees to
          provide data on whose behalf It is
          holding coffee contracts.
          (Story on (St
          * * *
          Investments in Irun aren't beIng
          written off by American companies,
          although the turmoil there is con
          tinuing. GM, for one, said its 45%
          owned vehicle plant resumed produc-
          lion last week at hail its prerevolulion
          rate. (Story on Po * lit
          * * *
          Markets
          Stocks: Volume 34,620,000 shares. Dow
          Jones Industrials 857,59, up 4.77; transporta
          LIon 218 01, up 0.73; utilitIes 103.89, up 0.64,
          Bond!; Dow Jones 20 bonds 84.46, up 0.11
          Commodities: Dow Jones futures index
          385.02, off 0,10, spot Index 380.96, up 2 01
          World Wzde
          TIlE U.S AGREED t a $5 bIllIon aid
          plan to cement an E Uan Israeli taeatv.
          Under a plan worked out in Washington
          by Defense Secretary Brown and Israeli De
          fense Minister Ezer Welzman, U S. military
          aid to Israel will rise $3 billion over the next
          three years The grants and loans will help
          Israel relocate two air bases and other facil
          Ities when it turns over the Sinai to Egypt.
          Military assistance to Egypt will increase as
          much as $2 billion, with specifics to be
          worked out later. Weizinan also met with
          Egyptian Defense Minister Kamal Hasan Ali
          on details of the Sinai withdrawal, They
          were unabie to agree on a final schedule,
          but both expressed confidence that the
          treaty will be signed next week,
          The aid boost will help Israel deal
          with what it sees as a growing threat
          from Iraq, which has been recesvmg
          modern Soviet weaponry, and Syria.
          In Israel, the cabinet approved the treaty
          and sent it to parliament, which is expected
          to ratify it tomorrow, Prime Minister Begin
          avoIded a clash with liardllne ministers by
          agreeing to set up a committee to determine
          Israeli policy in negotiations on Palestinian
          self rule
          * * *
          IRAN STRUGGLED to quell a Kurdish
          rebellion in the west
          The new revolutionary regime negotiated
          a cease fire with Kurdish tribesmen, who
          want to set up an autonomous region, after
          a day of battles that left at least 170 people
          dead, The tribesmen reportedly overran the
          military outpost at Sanandaj, 250 mIles west
          of Tehran, then seized the police headquar
          tees and radio and television stations, It
          wasn't clear what sparked the fighting
          Some reports said local Shitte Moslem lead'
          era handed out arms and anununstion to the
          populace, but denied weapons to the Kurds,
          most of whom belong to the rival Sunm sect.
          The fighting prompted Ayatollah Khomeini
          to appeal for peace in “dear Kurdistan”
          Prime Minister Bazargan has prom '
          wed to give Kurdistan ‘a problems top
          priority, but iran 's economic problems
          have kept him busy.
          Separately, Iran rejected claims by At
          ghanistan's pro-Soviet regime that 4,000 Ira-
          nian soldiers had entered Afghanistan to
          create unrest. Afghanistan had charged that
          the soldiers were among 7,000 Afghanl rein'
          gees expelled from Iran last month,
          * * *
          China sent a peace proposal to Vietnam
          that calls for negotiations on restoring nor-
          mal relatIons to begIn March 28 The mes
          sage suggested that he sessions be held “a
          a rotating basis in Peking and Hanoi. Viet-
          nam has said talks can't begin until all
          Chinese troops are out a! the country,
          though Peking Insists Its pullout has been
          completed
          * * *
          The House ethics committee is Investigat-
          ing allegations that U.S. politicians were
          bribed by South African officials, Chairman
          Charles Bennett ID,, Fla.) said, Johannes'
          burg papers have reported that former In'
          formation Ministry official Eschel Rhoodle
          claims to have evidence of the secret contri-
          butions. Bennett said the pr-abe has been un
          der way for several days.
          * * *
          Attorney General Bell is expected to de-
          cide today whether to appoint a special pros
          ecutor to Investigate loans to a peanut ware-
          house operated by President Carter's fam-
          ily, UP1 reported Atianta newspapers
          quoted sources as saying Bell may name a
          “special counsel” rather than art outside
          prosecutor to quiet Republican calls for a
          deeper probe.
          A contempt order against Bell For refus'
          lug to Identify FBI Informants was vacated
          by an appeals court in New York City, The
          order arose from a $40 million damage suit
          filed by the Socialist Workers Party Involv
          Ing allegations of illegal surweillance,
          * * *
          Michele Sindona was Indicted by a fed-
          eral grand jury In New York City after an
          Investigation that lasted more than four
          years. The 99 'count IndIctment accuses the
          financier of illegally taking $67 millIon from
          banks he controlled In Italy to buy interests
          in Franklin National Bank and Talcott Na
          tional Corp
          * * *
          The EPA annoanced that Wheeling P1tts
          burgh Steel Corp agreed to pay a $4 million
          penalty and spend $84 million on antipollu
          lion gear to avoid a lawsuIt, The pact, which
          must be approved by a federal court, will
          bring the company into compliance with
          state and federal laws by 1982.
          * * *
          Several utilities are seeking permission
          to burn cheaper but potentially dirtier oil in
          the wake of the energy crunch caused by the
          Iranian cutoff Delmarca Power & Light and
          Florida Power & Light are among the com
          panies who want environmental rules re
          taxed. So far, regulators are resisting the
          move
          * — —
          FinnIsh voters swung to the right In a
          two-day parliamentary election, allowing
          the Conservative Party to pick up 10 seats
          for a total of 45 In the 200 'member parila'
          meat. But the gains weren't enough to upset
          the ruling center left coalition. Moscow
          warned last week that the Conservatives
          “couldn't be part of a friendly Finnish go
          ernment.”
          * * *
          Plans to send Ns b Y en $400 million
          in milItary aid will proceed denpite a cease
          fire In Its booder war with Marvist South
          Yemen, the State Department said, The d*-
          pariment said North Yemen still needs the
          13.6, anna to protect Itself. Arab agae me-
          diators have repocted that both sIdes are
          withdrawing their troops from the boeder U
          part of the truce.
          * * *
          DIed: Ja Edward May, 5 , chairman
          and founder of May Petroleum Inc., In an
          airplane accident near Aspen, Coin.
          Rep oduced vallh perri acion of the copynght ov re Further eproduchon pro lblted v thoul pe SSO 1
        

Download Attachments:

Exit mobile version