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in tokyo tuesday the u.s. currency opened for trading at N yen up from monday 's tokyo close of N yen |
last week the surprise resignation of british chancellor of the exchequer nigel lawson sent the british pound into a tailspin |
while sterling bounced back from session lows in a <unk> of <unk> yesterday foreign exchange dealers said that any hopes that the pound would soon post significant gains have <unk> |
traders said that statements made over the weekend to <unk> concern about the stability of prime minister margaret thatcher 's government and the future of her economic program largely failed to <unk> investors and bolster the <unk> british unit |
in her first televised interview following mr. lawson 's resignation mrs. thatcher reiterated her desire to keep sterling strong and warned again that full entry into the european monetary system 's exchange rate mechanism would provide no easy solution to britain 's economic troubles |
she said that the timing of the united kingdom 's entry would depend on the speed with which other members <unk> their economies |
mrs. thatcher 's remarks were seen as a <unk> to several leading members of her own conservative party who have called for a more <unk> british commitment to the ems |
at the same time a recent poll shows that mrs. thatcher has hit the lowest popularity rating of any british leader since <unk> began N years ago |
comments by john major who has succeeded mr. lawson also failed to damp market concern despite his pledge to maintain relatively high british interest rates |
according to one london-based analyst even higher interest rates wo n't help the pound if britain 's government continues to appear unstable |
one u.s. trader however dismissed sterling <unk> while acknowledging there is little immediate upside potential for the u.k. unit |
there is no question that the situation is bad but we may be painting a <unk> picture than we should he said |
he predicts the pound will continue to trade in a very volatile fashion with fits of being <unk> and <unk> before recovering its losses |
dealers also note that the general lack of enthusiasm for the yen has helped bolster the u.s. dollar |
they <unk> that persistent japanese investor demand for dollars for both portfolio and direct investment has kept a base of support for the dollar at around N yen |
the dollar began yesterday on a firm note in tokyo closing higher in late trade |
in europe the dollar closed slightly up in a market dominated by cross trades |
on the commodity exchange in new york gold for current delivery settled at $ N an ounce down N cents |
estimated volume was a moderate N million ounces |
in early trading in hong kong tuesday gold was quoted at $ N an ounce |
general electric capital corp. 's <unk> bank usa acquired a visa and <unk> portfolio from commercial federal savings & loan association an omaha neb. unit of commercial federal corp. of omaha |
terms were n't disclosed |
the portfolio currently includes $ N million in receivables ge capital said |
ge capital is a financial services subsidiary of general electric co. of fairfield conn. which also has broadcasting and <unk> businesses |
ge capital said commercial federal savings will continue to market visa and <unk> programs while <unk> provides operational and marketing support and actually owns the accounts |
with the acquisition <unk> blue <unk> ohio has more than N million total accounts ge capital added |
east germans rallied in three cities to demand democratic freedoms |
as the country 's new leader egon krenz prepared to travel to moscow today for talks with soviet leader gorbachev hundreds of thousands of east germans <unk> in the streets of leipzig <unk> and <unk> to call for internal freedoms and the <unk> of the new forum opposition group |
krenz however vowed to preserve the communist party 's hold on political power and said east germans should n't <unk> the nation with <unk> demands |
communist officials this month have faced nearly daily pro-democracy protests accompanied by the flight to the west by thousands of east germans |
soviet police <unk> with demonstrators in moscow following a <unk> <unk> around the kgb 's <unk> headquarters in memory of those <unk> under <unk> |
more than N <unk> attended the service |
a <unk> group demonstrated in <unk> square where the police <unk> and <unk> a number of protesters |
police in <unk> <unk> about N ethnic <unk> who were <unk> the trial of the former communist party chief of the southern province of <unk> |
<unk> <unk> and N others are accused of <unk> <unk> and strikes and opposing constitutional limits to <unk> 's <unk> |
if convicted they could be sentenced to death |
a court in <unk> sentenced a palestinian to N life terms for forcing a bus off a <unk> july N killing N people israeli radio reported |
he also received 20-year sentences for each of the N passengers injured |
it was considered the <unk> sentence passed since the start of the <unk> arab <unk> in the <unk> <unk> |
u.s. and soviet negotiators opened talks in new york aimed at <unk> differences in proposals to reduce <unk> <unk> |
while the kremlin has urged a ban on output of the poison <unk> the white house wants to continue producing the weapons even after an international treaty calling for their destruction is signed |
south africa 's government said peaceful demonstrations such as the <unk> rally sunday near <unk> have helped ease <unk> and <unk> political changes |
about N people attended the <unk> rally at which leaders of the banned african national congress refused to <unk> violence to end apartheid |
secretary of state baker expressed concern that nicaraguan president ortega may attempt to use alleged attacks by the <unk> contra rebels as an excuse to scuttle elections scheduled for february |
ortega had threatened to end a <unk> <unk> |
baker 's remarks came as the white house urged both sides to honor the truce |
the <unk> lexington returned to <unk> in <unk> fla. following an accident sunday in which the pilot of a training jet <unk> into the ship killing five <unk> |
the <unk> of the aircraft carrier the oldest in the navy said the <unk> was making his first attempt to land on a carrier |
four people <unk> three u.s. flags on the central steps of the u.s. capitol in a bid to test a new federal law protecting the american flag from <unk> |
all four demonstrators were arrested |
the law which bush allowed to take effect without his signature went into force friday |
chinese officials said armed police would replace soldiers in <unk> square as part of a <unk> down of beijing 's <unk> state of emergency |
separately the u.s. embassy has filed three protests in as many days with china 's government alleging <unk> of diplomats and their families an embassy source said |
authorities in <unk> said the toll from two earthquakes sunday had reached at least N dead and about N injured |
the heaviest damage was reported in <unk> about N miles west of <unk> |
as rescue teams continued searching for victims hundreds of <unk> accused the government of a <unk> response following the <unk> |
britain 's thatcher summoned senior advisers for strategy talks as opinion polls showed the prime minister 's popularity had hit a record low following the resignation last thursday of chancellor of the exchequer lawson |
one poll conducted for the british broadcasting corp. found that N N of voters believed that she should quit |
lawmakers in hungary approved legislation granting <unk> to many people convicted of crimes punishable by less than three years in prison |
they also established an office to control government and party finances |
the laws take effect next month |
died robert v. van <unk> N chairman of mutual benefit life insurance co. sunday in morristown n.j. of cancer |
fluor corp. said it was awarded a $ N million contract to provide engineering and <unk> services at a copper mine in <unk> <unk> indonesia for a unit of freeport-mcmoran copper co |
fluor based in irvine calif. will direct expansion of the mine 's capacity to N metric tons a day from N metric tons a day |
completion of the project is expected by <unk> |
in N fluor had revenue of $ N billion and earnings of $ N million or N cents a share |
<unk> computer ag citing continued profitability problems said it will have to reduce personnel further notably in research and development sectors |
the troubled west german computer company said in a statement to its employees that the number of persons working in product development will be reduced world-wide to N from N by the end of N |
the number of workers in production sectors will be cut by N to N by september |
the cuts will be made half within germany and half abroad |
in the first nine months of N <unk> said sales rose N N amid good growth in selected areas such as banks and trading companies |
the company also cited some success in <unk> cost increases and said it wants to return to profitability in N |
it cited the expected beneficial effects of a concentration on key products further structural changes within the group and cooperation agreements with other companies |
great northern nekoosa is being sought by another big paper company georgia-pacific for $ N a share or about $ N billion |
the tender offer which surprised analysts because it appeared to be unsolicited could spark a period of industry consolidation |
analysts questioned whether georgia-pacific will ultimately prevail saying other paper concerns may make competing bids |
two more securities firms bowed to the outcry over program trading |
ge 's kidder peabody unit said it would stop doing stock-index arbitrage for its own account while merrill lynch said it was <unk> such trading entirely |
also the big board met with angry stock specialists |
a big <unk> case will be reviewed by the supreme court |
the justices agreed to decide whether federal insurers can require ltv to take back <unk> for funding its $ N billion pension <unk> |
drug companies lost a major liability case |
the supreme court let stand a new york ruling that all manufacturers of an <unk> drug are liable for injuries or deaths if the actual maker is n't known |
revco received a $ N million takeover offer from texas financier robert bass and acadia partners |
the <unk> chain reacted cautiously saying the plan would further swell its huge debt which forced the company into chapter N protection last year |
rockefeller group agreed to sell a N N interest to mitsubishi estate a major japanese developer and property owner for $ N million |
officials at some rockefeller units are said to be unhappy with the agreement |
continental air replaced its top executive for the sixth time in as many years |
chairman and chief executive joseph corr was succeeded by frank lorenzo chief of parent texas air |
united air 's parent may have to pay as much as $ N million to the labor-management buy-out group for fees and expenses incurred in their failed $ N billion takeover bid |
gen-probe agreed to be bought by chugai pharmaceutical for about $ N million |
the sale is likely to fuel concern about growing japanese investment in u.s. biotechnology firms |
boeing posted a N N jump in third-quarter earnings but wall street 's attention was focused on the continued strike at the aircraft maker |
the fed delayed approval of first union 's $ N million acquisition of florida national banks pending a review of first union 's lending practices in low-income neighborhoods |
allianz of west germany entered the takeover battle between france 's paribas and navigation mixte |
maxwell agreed to sell its u.s. printing unit to quebecor for $ N million making quebecor the no. N commercial printer in north america |
new construction contracts rose N N in september led by commercial industrial and <unk> projects according to <unk> dodge group |
western union took steps to withdraw a $ N million debt swap citing turmoil in the junk bond market |
markets |
stocks volume N shares |
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