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Date: 12 July 1983
By United Press International
United International
Commodity News Services Inc., a subsidiary of Knight-Ridder Newspapers Inc., said it had acquired United Press International's share of Unicom News, a commodity and economic information service.
Date: 12 July 1983
Dow Jones & Company reported yesterday that net income in the second quarter of this year increased 20.4 percent, to $28.9 milion, or 45 cents a share, from $24 million, or 38 cents a share, in the corresponding quarter a year earlier. Revenues advanced 19.3 percent, to $219 million, from $183.6 illion. The Wall Street Journal reported advertising linage increases on a per-issue basis of 8.3 percent for the latest three months.
Date: 12 July 1983
By Jonathan Friendly
Jonathan Friendly
Newsweek magazine's publication of a column by a California couple, Warren M. and Patricia Becker, came in settlement of the couple's libel suit against the magazine, according to Mr. Becker and others connected with the case. The article, a ''My Turn'' column that appeared May 30, did not disclose that the Beckers had sued the magazine and that the case was settled last fall. Citing a confidentiality agreement with the Beckers, Newsweek's counsel, Diana Daniels, declined to discuss specifics of the case or to say whether the column that week was given them as part of the settlement.
Date: 13 July 1983
Special to the New York Times
John M. Fitzgerald was browsing through the newspaper one morning last month when an op-ed column by Jody Powell caught his eye. Mr. Powell, who had been press secretary to President Carter, bemoaned the short shrift that news organizations had given to charges that a briefing book prepared by Mr. Carter's re-election committee was stolen from the White House in 1980, and got into the hands of Ronald Reagan's election campaign. Mr. Reagan's aides had used the briefing book to prepare him for a debate with Mr. Carter, in what Mr. Powell contended was a violation of campaign ethics and a possible breach of national security. ''Does the Ethics in Government Act require an F.B.I. investigation of the theft and use of this material?'' Mr. Powell asked in the column, which appeared in The Washington Post.
Date: 12 July 1983
By William Robbins, Special To the New York Times
William Robbins
A hearing in an unusual and long-running libel suit is scheduled to resume here Tuesday. For Philadelphians, it has already provided the spectacle of the trial judge taking an oath and testifying on his own fitness to preside, alternating on the bench between testifying himself and ruling on the suitability of questions from trial lawyers. In his testimony, the judge has acknowledged a long and continuing friendship with a convicted extortionist. The hearing is on a motion asking Judge Bernard G. Snyder of Philadelphia's Court of Common Pleas to disqualify himself, and charging bias in favor of the plaintiff's attorney. It is viewed as unusual in legal circles in part because before the hearing started, the judge had already found in favor of the plaintiff in the libel dispute and had imposed a penalty of $7 million on the defendants.
Date: 13 July 1983
By Thomas L. Friedman, Special To the New York Times
Thomas Friedman
Efforts to heal the rift between Syria and Yasir Arafat appear to have reached a dead end. Rather than settle its differences with the chairman of the Palestine Liberation Organization, the Syrian Government of President Hafez el-Assad seems intent on keeping Mr. Arafat frozen in the political wilderness of his Tunis headquarters, where he is cut off from his guerrilla supporters in Lebanon as well as from the battlefront with Israel. In the last three days Mr. Arafat has repeated publicly his contention that the Syrians are backing the rebellion against his leadership of Al Fatah, the largest group in the P.L.O. Hence, as he sees it, the only way the rebellion can be quelled is through an Arafat-Assad settlement. But after nearly two weeks of shuttling between Tunis and Damascus, the six-member P.L.O. mediation team has failed to persuade the Syrians to try to reach a settlement.
Date: 12 July 1983
By H.j. Maidenberg
New-crop corn futures prices soared their daily limit of 10 cents a bushel yesterday as hot, dry weather caused traders who had previously sold short to buy out of their positions. As prices rose, farmers became even more reluctant sellers, adding to the upward pressure on prices. At the close of the Chicago Board of Trade, the old-crop corn months of July and September were up 3 1/4 and 5 1/2 cents, respectively.
Date: 13 July 1983
International An effort to spur Poland's authorities to ease martial law restrictions has been initiated by the Reagan Administration, according to Polish informants and Administration officials. They said Poland's charge d'affaires had been told that Washington would take steps to relax some of the sanctions it imposed when martial law was declared in 1981 if Warsaw released a significant number of political prisoners. (Page A1, Column 6.) The future of Hong Kong when the British lease over most of the colony expires in 1997 was the subject of a new round of confidential Chinese-British negotiations that opened in Peking. The discussions are scheduled to end today. (A3:1-3.)
Date: 12 July 1983
International A compromise on human rights and East-West security issues is acceptable to Secretary of State George P. Shultz, according to Administration officials. Moscow has agreed informally to the compromise document and Mr. Shultz was said to be ready to recommend its approval by President Reagan. (Page A1, Column 3.) American-Chinese military ties are to be the subject when Defense Secretary Caspar W. Weinberger visits Peking in late September or early October, according to Pentagon officials. He is to discuss possible sales of weapons to China. (A10:4-6.)
Date: 13 July 1983
By H. Erich Heinemann
H. Heinemann
The American Express Company's proposed billion-dollar re-entry into the mutual fund industry through the acquisition of Investors Diversified Services is a symbol of the vast changes sweeping through the American financial system. Eight years ago, when American Express got out of the mutual fund business by selling the American Express Investment Management Company, which ran six funds with a modest $400 million in assets, the financial environment was far different. The traditional lines of separation among banking, savings, home finance, insurance and the securities industry had begun to blur, but only a little. Managing and selling mutual funds clearly did not seem attractive to American Express at that time.