Newsgroups: biz.americast.samples
From: usa-post@AmeriCast.Com
Organization: American Cybercasting
Subject: Sample USA Today banks Fri, Aug 28 1992
Date: Fri, 28 Aug 92 05:22:47 EDT

This is an actual portion of the electronic edition of the USA Today, as
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08-28 0000
DECISIONLINE: Banking & Economy
USA TODAY Update
Aug. 28-30, 1992
Source: USA TODAY:Gannett National Information Network
    
OTS REPORTS JULY ACTIONS:
   The Office of Thrift Supervision Thursday reported that it 
completed 71 enforcement actions in July. So far, the office has 
completed 461 enforcements this year. The listings are available 
by type of enforcement and alphabetically by thrift. Write: 
Information Services Division, Office of Thrift Supervision, 1776 
G St. N.W., Washington, D.C. 20552, or phone 1-202-906-5900.
    
TISCH GROUP CUTS CANARY BID:
   A Wall Street investor group sharply cut its bid Thursday to 
rescue the troubled Canary Wharf project in London, the Associated 
Press says. The group, including CBS Chairman Lawrence Tisch and 
former Salomon Bros. vice chairman Lewis Ranieri, lowered its bid 
to $464 million from $692 million. O&Y put Canary Wharf under 
British insolvency protection after talks with creditors 
collapsed.
    
INVESTORS FAVOR MUTUAL FUNDS:
   Investors poured more money into stock and bond mutual funds 
last month than in June: $18.6 billion total, compared with $13.6 
billion in June and $10.6 billion a year ago. Bond funds were 
especially hot as banks further lowered yields on certificates of 
deposit.
    
CORPORATE PROFITS A RECORD HIGH:
   Corporate profits climbed 2% to a record high the second 
quarter, the Commerce Department says. The jump in profits to a 
seasonally adjusted annual rate of $235 billion follows an 11% 
increase the first quarter, the best quarterly results in four 
years. Economists say profits are improving despite the sluggish 
economy because lower interest rates have cut borrowing costs.
    
IDS FINANCIAL TO SETTLE SUIT:
   IDS Financial Corp. said Thursday it has agreed to make a $35 
million settlement in a nationwide age-discrimination suit. IDS is 
a unit of American Express Co. The class-action suit was filed in 
1989 by 32 former IDS division managers and the Equal Employment 
Opportunity Commission. IDS agreed to internally audit personnel 
practices and procedures.
    
JOBLESS NUMBERS DOWN AFTER JUMP:
   The number of people applying for unemployment benefits fell in 
mid-August to the lowest level since October 1990. Weekly claims 
dipped to 382,000 Aug. 15 - the first time claims have been below 
400,000 since July 1991, the Labor Department said Thursday. The 
plunge is almost entirely due to General Motors workers, who were 
laid off for two weeks, were no longer asking for benefits.
    
CITIBANK SETS BRAZIL BOND DATE:
   Citibank said Thursday that it has set Sept. 10 as the signing 
date for a final agreement to issue $7 billion of Brazil past-due 
interest bonds for 1989 and 1990. The bonds will be issued once 
banks holding 95% of Brazil's previously restructured commercial 
bank debt have signed the documents covering the agreement on the 
1989:1990 past-due interest.
    
AMEX MIAMI BRANCH REOPENS:
   American Express Bank Ltd. said Thursday its Miami branch was 
operational after it closed Monday because of Hurricane Andrew. 
The bank belongs to its subsidiary, American Express Bank 
International. The Miami office will be open Saturday and Sunday 
to assist clients affected by the hurricane.
    
REAL ESTATE RECOVERY SLOWS:
   The real estate industry's recovery apparently is slowing, 
according to a survey released Thursday by the Federal Deposit 
Insurance Corp. The agency found that bank and thrift examiners 
were less upbeat in the May-July period than in the survey 
released in May. About two-thirds said commercial conditions were 
unchanged, meaning there's still too much office space on the 
market.
    
EX-IM BANK GUARANTEES REPAYMENT:
   The Export-Import Bank Thursday guaranteed Giddings and Lewis 
Inc. repayment for millions of dollars worth of automotive 
equipment exports to Russia, Bloomberg Business News reported. The 
guarantee is part of a $102 million plan to promote the sale of 
American goods in the former Soviet republic. Russia's central 
bank, the Vnesheconombank, will act as the obligor.
    
30-YEAR T-BONDS DOWN; GOLD UP:
   The Dow Jones industrial average rose 7.83 points to 3254.64. 
The NASDAQ composite index gained 4.47 points to 563.27. Yields on 
30-year Treasury bonds fell to 7.39% from 7.41%. The discount rate 
on three-month Treasury bills held at 3.15%. Comex gold rose 90 
cents to $339.20 an ounce. Light sweet crude oil dipped 8 cents to 
$21.13 a barrel on the New York Mercantile Exchange.
    
DOW JONES OPENS ON UPSWING:
   The Dow Jones average of 30 industrials opens Friday at 3254.64 
after closing up 7.83 Thursday. The New York Stock Exchange 
composite opens at 227.73, up 0.25. The American Stock Exchange 
market value opens at 381.00, up 1.35. The NASDAQ OTC composite 
opens at 563.27, up 4.47.
    
DOLLAR OPENS UP OVERSEAS:
   The dollar opens up on Friday. It opens at 0.5054 British 
pounds, up from 0.5033; 4.8168 French francs, up from 4.7890; 
1.4090 German marks, up from 1.4053; and 124.88 Japanese yen, up 
from 124.75. (As of 3 p.m. Thursday. Source: First American Bank 
of New York.)
    
24-HOUR TELEPHONE INFORMATION:
   USA TODAY Money Hot Line. 95 cents a minute. 1-900-555-5555.
    
Banking & Economy editor: Beth Mann. (1-919-855-3491) Making 
copies of USA TODAY Update (Copyright, 1992) for further 
distribution purposes violates federal law.
    

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