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the base rate on corporate loans at large u.s. money center commercial banks |
federal funds N N high N N N low N N N near closing bid N N N offered |
reserves traded among commercial banks for overnight use in amounts of $ N million or more |
source fulton prebon u.s.a inc |
discount rate N N |
the charge on loans to depository institutions by the new york federal reserve bank |
call money N N N to N N |
the charge on loans to brokers on stock exchange collateral |
commercial paper placed directly by general motors acceptance corp. N N N to N days N N N to N days N N N to N days N N N to N days N N N to N days N N N to N days N N N to N days |
commercial paper high-grade unsecured notes sold through dealers by major corporations in multiples of $ N N N N days N N N days N N N days |
certificates of deposit N N one month N N two months N N three months N N six months N N one year |
average of top rates paid by major new york banks on primary new issues of negotiable c.d.s usually on amounts of $ N million and more |
the minimum unit is $ N |
typical rates in the secondary market N N one month N N three months N N six months |
bankers acceptances N N N days N N N days N N N days N N N days N N N days N N N days |
negotiable bank-backed business credit instruments typically financing an import order |
london late eurodollars N N N to N N N one month N N N to N N N two months N N N to N N N three months N N N to N N N four months N N N to N N N five months N N N to N N N six months |
london interbank offered rates libor N N N one month N N N three months N N N six months N N N one year |
the average of interbank offered rates for dollar deposits in the london market based on quotations at five major banks |
foreign prime rates canada N N germany N N japan N N switzerland N N britain N N |
these rate indications are n't directly comparable lending practices vary widely by location |
treasury bills results of the monday october N N auction of short-term u.s. government bills sold at a discount from face value in units of $ N to $ N million N N N weeks N N N weeks |
federal home loan mortgage corp freddie mac posted yields on 30-year mortgage commitments for delivery within N days |
N N standard conventional fixed-rate mortgages N N N N rate capped one-year adjustable rate mortgages |
source telerate systems inc |
federal national mortgage association fannie mae posted yields on N year mortgage commitments for delivery within N days priced at par N N standard conventional fixed-rate mortgages N N N rate capped one-year adjustable rate mortgages |
source telerate systems inc |
merrill lynch ready assets trust N N |
annualized average rate of return after expenses for the past N days not a forecast of future returns |
canada 's gross domestic product rose an inflation-adjusted N N in august mainly as a result of <unk> growth statistics canada a federal agency said |
the august <unk> was up N N from its year-earlier level |
<unk> is the total value of a nation 's output of goods and services |
statistics canada said <unk> output in august rose N N from july |
output of <unk> industries increased N N |
separately statistics canada reported that its <unk> price index dropped N N in september its third consecutive monthly decline |
it also reported a N N decline in its <unk> price index for september |
columbia pictures entertainment inc. was dropped effective today from the recreational products and services industry group of the dow jones equity market index |
columbia pictures is being acquired by sony corp. which is based in japan |
people 's savings financial corp. said it will buy back as much as N N of its N million shares outstanding because the stock is undervalued |
the holding company said it has been unfairly associated with other banks in new england that have had major loan losses in recent quarters |
the company said its people 's savings bank unit does n't have a large exposure to construction and commercial loans that have caused the loan-loss problems in many of the banks |
a seat on the chicago mercantile exchange was sold for $ N down $ N from the previous sale <unk> |
seats currently are quoted at $ N bid $ N asked |
the record price for a full membership on the exchange is $ N set march N |
in a surprise move the british government cleared the way for a bidding war for jaguar plc by agreeing to remove an obstacle to a takeover of the auto maker |
trade and industry secretary nicholas ridley told the house of commons yesterday that he will <unk> the government 's so-called golden share in the company as long as jaguar shareholders agree |
the golden share restricts any individual holding to N N and expires at the end of N |
it was in jaguar 's best interests for the company 's future to be assured and the present climate of uncertainty resolved as quickly as possible mr. ridley said |
mr. ridley 's decision fires the starting <unk> for perhaps a costly contest between the world 's auto giants for britain 's leading luxury-car maker |
both general motors corp. and ford motor co. have been trying to <unk> N N stakes in jaguar |
ford which already has an unwelcome N N holding is prepared to bid for the entire company and had lobbied the government to lift the takeover restrictions early |
gm has been negotiating a friendly transaction with jaguar that likely would involve joint ventures and an eventual stake of just under N N |
but the government 's action which caught jaguar management <unk> may scuttle the gm minority deal by forcing it to fight for all of jaguar |
i ca n't believe they gm will let ford have a free run said stephen reitman a european auto industry analyst at <unk> & drew |
i am sure they will be going for a full bid |
many investors certainly believe a bidding war is imminent |
jaguar shares skyrocketed yesterday after mr. ridley 's announcement following their temporary suspension on london 's stock exchange |
in late trading the shares were up a <unk> N pence $ N a N N gain to a record N pence on very heavy volume of N million shares |
in the u.s. over-the-counter market jaguar shares trading as american depositary receipts closed at $ N up $ N |
analysts expect ford will make the first move perhaps today with an initial offer of about N pence $ N a share |
such a proposal values jaguar at more than # N billion $ N billion |
speculation about a takeover fight has sent jaguar shares soaring in the past six weeks |
the share price was <unk> at about N pence before ford 's sept. N announcement of its interest in a minority stake |
ford is in the driving seat at the moment observed bob barber an auto analyst at brokers james capel & co |
an aggressive ford bid for jaguar would put pressure on gm to make a better offer as the british company 's white knight |
such a <unk> could end jaguar 's hopes for remaining independent and <unk> |
but it is n't clear how long gm would be willing to fight ford for jaguar |
because of their longstanding <unk> gm just wants to make sure ford pays a huge <unk> for jaguar said john lawson an auto analyst at london 's nomura research institute |
people close to the <unk> talks agreed that ford now may be able to shut out general motors |
it 's either going to be a <unk> or there only may be one player in town one person said |
another person close to the talks said it is very hard to justify paying a silly price for jaguar if an <unk> bidding war were to start now |
in a statement jaguar 's board said they were not <unk> about the ridley decision in advance and were surprised at the action taken |
the statement emphasized that holders representing N N of the shares voting at a special shareholders ' meeting must agree to lift the takeover restrictions |
jaguar officials in the u.s. noted that ford as jaguar 's largest shareholder now has the power to call for such a meeting |
u.s. auto analysts also noted that ford is in the best position to benefit from the large number of jaguar shares that have moved over the past month into the hands of arbitragers waiting for the highest takeover bid |
jaguar 's own defenses against a hostile bid are weakened analysts add because fewer than N N of its shares are owned by employees and management |
ford officials in the u.s. declined to comment on the british government 's action or on any plans to call a special jaguar shareholders meeting |
but gm officials said they too were surprised by the move which left them to consider all our options and explore matters further |
although gm has u.s. approval to buy up to N N of jaguar 's stock it has n't yet disclosed how many shares it now owns |
in a prepared statement gm suggested its plans for jaguar would be more valuable in the long run than the initial <unk> investors might reap from a hostile ford bid |
our intensive discussions with jaguar at their invitation gm said have as their objectives to create a cooperative business relationship with jaguar that would provide for the continued independence of this great british car company to ensure a secure future for its employees and to provide an attractive long-term ret... |
jaguar was shocked by mr. ridley 's decision because management had believed the government would n't lift the golden share without consulting the company first |
indeed the government is taking a calculated risk |
mr. ridley 's announcement set off a <unk> of protests from members of the opposition labor party who accused the thatcher administration of backing down on promised protection for a privatized company |
the british government retained the single golden share after selling its stake in jaguar in |
the conservative government 's decision may reflect its desire to shed a politically sensitive issue well before the next election expected in late N |
it 's now a very good time politically to get this over and done with observed daniel jones professor of motor industry management at the university of <unk> in <unk> |
the government already <unk> by high interest rates and a slowing economy has been badly hurt by last week 's <unk> in mrs. thatcher 's cabinet |
at the same time the government did n't want to appear to favor gm by allowing a minority stake that might preclude a full bid by ford |
mr. ridley hinted at this motive in <unk> questions from members of parliament after his announcement |
he said he was giving up the golden share to clear the way so the playing field is level between all <unk> |
bradley a. <unk> in detroit contributed to this article |
dow chemical co. midland mich. and eli lilly & co. indianapolis said they completed the formation of dow <unk> a joint venture combining their <unk> businesses as well as dow 's industrial <unk> business |
the companies said dow <unk> will be the largest <unk> agricultural concern in north america with projected <unk> revenue of $ N billion |
dow will own N N of the venture with eli lilly holding the rest |
the venture will be based in indianapolis |
william a. <unk> N years old president of the el paso natural gas co. unit of this energy and <unk> concern was named to the additional post of chief executive officer succeeding <unk> h. <unk> N who continues as a vice chairman of the parent |
<unk> <unk> the <unk> founder of this maker of data communications products and a former chairman and chief executive resigned as a director |
dataproducts is fighting a hostile tender offer by dpc acquisition partners a group led by new york-based <unk> investments associates |
under the circumstances dataproducts said mr. <unk> said he was unable to devote the time required because of other commitments |
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