Word: investors
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Dates: during 1980-1989
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...latest currency upheaval may have had ominous implications for international cooperation but, paradoxically enough, it failed to quell investor confidence in the booming U.S. stock market. Last week the Dow Jones average of 30 industrial stocks continued its spectacular rise past the magic 2000 mark that it attained on Jan. 8. After showing gains every day since the New Year began and reaching record heights each day for the past two weeks, the Dow closed at 2076.63, up more than 3.5% last week...
...just $100,000, less than the price of an average single-family house, Investor Lloyd Lubensky managed to buy a 34.2% controlling interest in the seventh largest U.S. steel company, Wheeling-Pittsburgh, according to papers filed last week with the Securities and Exchange Commission. The 1.7 million shares he acquired had a market value of $13.5 million on the day he paid the $100,000 for them, Dec. 31. Lubensky bought the stock for the lower price from a friend, Wheeling Chairman Allen Paulson, who resigned a week later. Paulson apparently intends to use the virtual giveaway as an income...
...Investors can now skip around the globe to buy and sell foreign stocks, bonds and bank notes. But since many nations impose different regulations on their financial systems, the playing field for the international investor is not always a level one. Last week Britain and the U.S. took a major step toward smoothing the surface. The two countries proposed a uniform set of rules to govern banks' capital reserves. Federal Reserve Board Chairman Paul Volcker called the pact a "breakthrough...
...Eastman Kodak, is the largest divestiture so far by a European firm. The South African Barclays affiliate employs 25,000 persons at more than 500 branches. More important, Barclays is the first major British enterprise to unload its holdings in South Africa. Britain is South Africa's largest outside investor, with assets worth an estimated $8.5 billion, or 40% of the foreign holdings in the country. If other British firms decide to follow Barclays' example, the exodus could have severe economic and political repercussions for Pretoria...
...Little investor rancor but presumably considerable discomfort was in evidence at a meeting Boesky held on Thursday at the office of his lawyers in downtown Manhattan. In attendance were some of the 43 limited partners who had anted up $221 million in capital for his major arbitrage fund, Ivan F. Boesky & Co. L.P. Boesky's tribulations had cast an unwelcome spotlight on a heterogeneous group of investors who suddenly found themselves unwitting participants in the scandal. The list of partners included several high- profile companies, such as Rapid-American (investment in Boesky: $5 million) and National Can ($6.5 million). Prominent...