Word: stockings
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...banks' troubles began in the late 1970s, when many Israeli investors started buying bank stocks as a hedge against inflation, which was then surging higher than 100%. The banks encouraged this speculation and helped drive up the stock prices by buying their own shares on the Tel Aviv exchange. By October 1983, bank-stock prices had reached unsustainable levels. When fear of a shekel devaluation led some investors to sell stocks in order to buy U.S. dollars, the value of bank shares plunged by one-half...
...Bejski commission concluded that the banks' practice of trading in their own shares amounted to illegal manipulation. Its report criticized Mandelbaum and other government officials for failing to take any action to prevent the banks from bringing on the stock crash...
When London Trader Stephen Raven checked a stock listing on his computer screen last week, then bought 1,000 shares of Electrolux from a New York dealer, he was not just making an investment. He was making history. As chairman of the International Markets Committee of the London Stock Exchange, Raven was executing the first transaction using a new transatlantic computer link...
Connecting the London Stock Exchange with the U.S. National Association of Securities Dealers, the link gives London traders ready access to the latest prices for nearly 200 of N.A.S.D.'s over-the-counter stocks, including Apple Computer and United Artists, while U.S. traders can look up current quotes on 288 London issues. The new service, said N.A.S.D. Chairman David Hunter, "is the beginning of the global network for 24-hour equity trading." Next stop for London's traders: the New York Stock Exchange. AUTOS How to Survive A Breakdown...
...maneuvering to foil the deal. Union representatives have been meeting with Jay Pritzker, a Chicago financier who controls Braniff Airlines and the Hyatt hotel chain. Pritzker is said to be considering a bid for Eastern in return for wage concessions from the workers. Texas Air controls 51% of Eastern stock, but Pritzker could conceivably make Lorenzo a lucrative offer that he could not refuse...