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PITTSBURGH — Alcoa Inc. % 1864 +1 198 285 a 568 6 60 housingrose by 1.9 percent following a3.4 percentgain. Housing activity, aided by low mortgage rates has helped “WASHINGTON he SEC's Seclilties V iolatJOnS ; WASHINGTON Builders broke ground on fewer housin; i projects in October, showing rederal Alcoa to Cut Jobs In Americas, Europe at U.S. giant Citibank and India’s largest commercial bank violated securities laws in 1998 by bank accounts before becoming a fugitive. The government so far has seized $5.5 million in tion of apartments, condominiums and other multi ly dachev, owner ofFirst Equity Enterprises,of transferring the al Builders Cautious About New Ho UuSINg By US., Indian Bank ticket purchases such as a home. been have brokerage regulators have alleged to overseas money missing +08 410 8 +6 +8 eas eawa ‘Boweee BHT 4150 NASDAQ NATIONAL MARKET Last Last Vol Name nomic stimulus package. rities laws without admitting or denying the SE \C’s allegations. No fines were imposed. charged with plotting to steal $100 million from investors a theft discovered in the wake of the Sept. 11 attacks. An indictment unsealed He said people are buying more household goods and home-improvementitems, possibly because they feel like Spending time with their families. But other items are not selling as well. Bush administration. economic advisers on the panel said the governmentis doing whatit can. Declining interest ter centsince the Sept. 11 terrorist NEW YORK — Two executives from a World Trade CenTevenues are down 3 to 4 per- Monday accuses Andre Kou- Si inglefamily home construction fell by 1.2 percent in October,after a 1.1 percent decline in September. Construc- practices. In a settlement, Citibank a nd State Bank of India agreed to cease violatin; g federal cuts will affect employees at 40 locations. Alcoa offi icials said acquisi: tions in recent yea rs made the job reductions nec essary. factors that can make Americans less inclined to make big- fined the government-owned State Bank of India $7.5 million charge of as much as $250 million in the fourth quarter. The for allegedly unsafe’ banking they to its lowest level in 7% years and the nation’s unemploymentrate rose from 4.9 percent in September to 5.4 percent, will result in an after-tax other U.S. banking regulators ductions Monday,sayi‘ing mission came less than a week after the Federal Reserve and The planned cuts represent withoutregistering them. The action Monday by the Securities and Exchange Com- 4.6 percent of its overall work force of 140,000 employees worldwide. Alcoa announced the job re- construction reflects a climate of greater economic uncertainty for builders. Consumer confidence plunged in October The dip in overall housing says the economyis primed for ther tax cuts/‘and spending programs in the president’s eco- a rebound if Americans would just open their wallets d uring the holiday shopping season. But top retailers on Evans’ panel at the University of Chieago said many consumers are not heeding the call at the start of the holiday season. Sears chief executive Alan Lacy said will slash 6,500 jobs at facilities in the Americas and Europe, E etailers Worry structuring intended to.make the world’ 's largest aluminum more operate company efficiently. selling $532 million of Indian bonds in the United States accounts in the United States and Switzerland. Also charged with conspiracy was former First Equity president Gary Farberov. The criminal indictment follows a lawsuit filed by Dirk Karreman, of Queensland, Australia, who accused First Equity executives of “spending or absconding (with the mon ey) to a presently unknown location.” Karreman claims he lost about $2 million. rism slide, Lindsey Congress should pass the fur- and a plant in Pennsylvania is being closed as part of are caution in the face of sinking consumer confidence and ris* ing unemployment. While the drop was lot less steep than many analysts were €xpecting, it did represent a Pullback by builders. CHICAGO — merce Secretary Don Evans 20,2001 The Salt Lake Tribune BUSINESS Tuesday, |
