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Show - THE Page Alti 1 1KB AID, Provo, Utah, U.3. economy Associated Press Writer - WASHINGTON ( AP) Americans' productivity climbed 2.7 percent last ear, the most in two according to a government dec-ade- s, d re ; n that raised hopes that a rebound in the nation's onipctim c standing is at hand. In a torrent of good economic long-iv.utc- news Thursday, other reports showed the nation's retailers had surprisingly strong sales in January, while factory orders surged 5.3 percent in December, the biggest gain months. After rising for three straight weeks, new claims for unemployment benefits eased a bit in late January. EC executive says Clinton 'posturing' BRUSSELS, Belgium (AP) -Tin European Community's top accused President Clinton of posturing with threats to impose punitive measures against the trade bloc. Comments by Jacques Delors Thursday underscored the bloc's concern the Clinton administration will resort to protectionism to resolve trade disputes. ie Campbell Soup buys cookie stock SYDNEY. Australia (AP) -Campbell Soup Co. said it obtained a majority of the shares in the cook-iemak- BERLIN Germany's central bank lowered two key interest rates by modest amounts Thursday, and the bank's president said he hopes the action will help end the "domino effect of speculation" in European currencies. The action by the independent Bundesbank had not been expected despite months of international pressure by other countries on Germany, which has some of the highest rates in the industrialized world. But Japan's central bank had lowered interest rates earlier in the day and the Danish krone had become the latest European currency to fall under heavy speculative pressure. The bank lowered the Lombard rate from 9.5 percent to 9.0 percent and the more important discount rate from 8.25 percent to 8 about the same size as percent cuts the Bundesbank made last September when currency speculators again were roiling the market. The Lombard rate is the rate at which banks can borrow emergency funds from the central bank. The discount rate is the cheapest form of bank refinancing. Both are benchmarks for other types of lending rates. The bank also said it was easing reserve requirements for banks, which' should make more money available for lending. Bundsebank President Helmut Schlesinger said he was not sure mm central bank can keep rates low J German and German and (rV) U.S. Japanese consumers ) l&j) (SbV borrow more without fear of niore-Oto J Investor flight PSKgK buy goods. overseas n M Japanese businesses Y)' borrow more -- JS t, ) U.S. consumers can afford to borrow KSsf A W more. American factories get more foreign orders. U.S. employment rises. Increasing mcomo and prosperity. court-appoint- trustee Roger end." Since last summer, Britain and Account Summary As 3EQNNING BALANCE 1 () DEPOSIT 0 WITHDRAWALS (- , The suit contends Sallah may have been used by former Bonneville Pacific insiders to divert money from share- holders and creditors into ' their own pockets. Perry said Jack Dunlop, a former Bonneville Pacific executive, is the only Sallah officer and director willing to give attorneys direction concerning Segal's litigation. "And now he is working with the trustee and negotiating with the U.S. attorney's office," Perry said. "We do not feel he is a good, objective person to be doing that since he is now working with the other side." Dunlop reportedly .00 oi.i992 10,000.00 plea-barga- in Ftrst Security Bank JOHN DOE PO BOX 30006 .00 -) PLANNED SAVINGS PLUS SALT LAKE CITY, UT INTEREST PAID de-icin- g (- .00 -) () 278.81 84130 SAVINGS DECEMBER 31,1992 OFFICE ACCOUNT 02 39225 6 PAGE MAIN - WASHINGTON (AP) A firm unveiled a video device it said could lead to safer and more efficient of aircraft. 1 de-icin- g Robotic Vision Systems Inc. said Thursday the device can reveal small amounts of ice on an aircraft's surface, even in total darkness. Currently designed to be mounted on airport trucks, the company said later models would be installed on aircraft and read by pilots. The product could help save lives and allow airlines to save money and time by avoiding unneccessary ST RATE BEGINNING BALANCE 2.75 1 ENDING BALANCE OTHER Phar-Mo- PPPP!iHllilJIU.Mii.llPBWWSSiW INTEREST boss r enters guilty plea - (3.0) EARNED mi JUUiiliUJiiiiiiiii 3 .00 jan. 01.1992 ' 10,000.00 (- -) .00 .00 DEDUCTIONSJgg INTEREST PAID de-ici- procedures. () 0 WITHDRAWALS 10,278.81 dec .31.1992 DEPOSIT 31.1991 dec. frfiS 4.15 423.73 nil iiiniiiiii.ii 04.53 10,304.53 ENDING BALANCE CLEVELAND ( AP) r Inc. executive pleaded A former Phar-Mo- guilty to four counts for his part in a $1.1 billion fraud and embezzlement scheme that forced the company to seek bankruptcy court protection. Jeffrey C. VValley, 37. of Pittsburgh, was the discount drugstore chain's ice president of finance. He was tired Aug. 2. Phar-Mo- r earlier fired Michael Monus as president and Patrick Finn, who was chief financial officer, after announcing it had discovered the scheme. Firm claims new way to make AZT TOKYO (AP) - A Japanese company said it has developed a cheaper way to make the AZT. the leading drug for people w ith AIDS. Kanematsu Corp. said Thursday it planned to begin selling thymidine, a key ingredient in AZT. made by the new process by the end of the year. The compound would be provided to pharmaceutical companies. AZT. or azidothymidine. was the first AIDS drug approved by the Fotxl and U.S. Food and Drug Administration. 10,304.53 INTEREST RATE OF 3.0 fclAL SECURITY NUMBER ENDING BALANCE im.tii m 10-yc- ar ii jinn amnijuWy.jSIUji; We haven't found another bank in town paying a higher interest rate on savings than we do. And vou don't even have to take our word for it. Up to SI, 000 $1,000 to $4,999 $5,000 to $99,999 30-ye- ar y me Bank Tna t Knows How To Make A Statement. borrow billions m 10,423.73 Pick Planned Savings Plus Rates - 31.1992 123-45-678- 9 Treasury plans to WASHINGTON (AP) The Treasury announced plans to borrow $35.5 billion next week in auctions that will include fewer long-tersecurities. The move is expected to lower borrow ing costs for both the government and consumers. Deputy Assistant Secretary Deborah J. Danker on Wednesday said the auctions would include SI billion less in bonds and $500 million less in notes than were sold during the last sale in November. dec. $100,000 and up 3.07c 4.0 4.15 3.07c Annual rate of simple interest effective Jan., 1991 Rates subject to change. By comparison, with- out naming names, Planned Savings Plus is a new program designed for individual account holders that pays higher rates. A disciplined savings plan that regularly shifts money from your checking to your savings. Then, as your assets increase, so does your interest (up to 4.15). Enroll in Planned Savings you can see that a First Security Planned Savings Plus account offers the highest Plus and make your own statement. For more information, stop into your local First Security vield. branch. Or call has been in negotiations with the U.S. attorney's office. 1992 dk.31.wi jan pTHER DEDUCTIONS New video device a Dec. 31 Se- gal. He contends Sallah owes Bonneville Pacific as much as $4.5 million. in comparison with the United States, Japan and Britain. But it puts less pressure on those countries to raise rates. German Chancellor Helmut Kohl said in January he hoped for lower interest rates to help Germany out of its recession, but he admitted that the Bundesbank had power in that area. effect of speculation where the foreign exchange markets pick one currency after another, will now Pa- and principals, want to withdraw. "The problem is there is no longer anyone there whom we can take directions from," said Lester A. Perry of the Salt Lake law firm of Kesler & Rust. Sallah is the target of a suit by Bonneville Pacific's The change still left Germany with relatively high interest rates AP Rick Gladstone, Wm. J. Caslello, Karl Gude that the moves would make tensions subside in the system designed to keep European exchange rates stable. But he said "we hope this unfriendly game, this domino cific "Today's decision ... can only be seen as a reaction to strong political pressure," the Chambers said in a statement. It said the decision would ease pressure on German unions to accept moderate pay deals, and the government would be less likely to make painful budget cuts. for expansion. i pany set up by Bonneville Deputy Manager of the Danish Central Bank Kirsten Mordhorst said the German decision "will in general help the EMS system and thereby the Danish krone." The Bundesbank move may help to save the tattered remains of the European exchange rate system, but a powerful voice in German business, the German Chambers of Commerce, said the timing was an unfortunate sign of politics entering monetary policy. s I SALT LAKE CITY (AP) Attorneys for Sallah International, a Panamanian com- er Arnotts Ltd. after a big institutional shareholder sold part of its holdings. The AMP, the biggest of the institutional investors in Arnotts, reversed its earlier decision not to accept Campbell's offer of S6.46 a share and announced Thursday it had reduced its stake to 2.2 percent from 8.5 percent. The move boosts the Camden., N.J. -- based company's stake in Arnotts to 53.6 percent. may aid Sallah attorneys want out of suit Italy devalued their currencies and left the European exchange rate system, and Spain, Portugal and Ireland had to devalue. France, Denmark and other countries have seen their currencies battered by speculation traced to high German interest rates. By LARRY THORSON moves upward 7 7, 1993 German central bank cuts interest rates Briefs in Sunday, February FiFSZ S&CUHtlJ ??fl GirrentJy Giving IKK Member F.D.IC |