Aadel Collection
What’s News: Iran struggled to quell a Kurdish rebellion in the west
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