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Congressional action on an international trade agreement will be postponed till after the November elections. President Clinton had hoped for quick approval of the General Agreement on Tariffs and Trade pact, calling it a measure that will boost the U.S. economy. But Democratic Senator Ernest Hollings, of South Carolina, stalled the treaty, saying it will ship thousands of American jobs overseas, notably many in the textile industry in his state. Using a trump card, Hollings insisted on exercising his right to hold the bill in his Commerce, Science and Transportation Committee for 45 days. Despite lobbying by the Clinton Administration...

Author: /time Magazine | Title: GATT-FLY SENATOR DELAYS VOTE | 9/30/1994 | See Source »

President Clinton signed a new law on Thursday that should make it easier for you to do your banking across state lines. The Interstate Banking and Branching Efficiency Act allows banks for the first time to establish branches anywhere in the country. Up till now, banks have been able to operate across state lines only by forming separate corporate entities for each state. That meant you could not make a deposit outside the state where your account was based, although you could make withdrawals. But soon you should be able to perform any transaction at any branch of your bank...

Author: /time Magazine | Title: INTERSTATE BANKING FINALLY ARRIVES | 9/29/1994 | See Source »

...Because of construction on Memorial Hall, WHRB had to meet our schedule. It was in our interest, therefore, to make them a loan," Parsons says. "We're acting as a bank for the station till their fund money comes...

Author: By Tom HORAN Jr., | Title: Harvard Lends Money to Radio Station | 9/23/1994 | See Source »

...direction of things has lawmakers on both sides of the congressional aisle clamoring for a deadline to U.S. involvement, which Defense Department officials today said would run at least through December. Democrats are drafting legislation to authorize the military action till February or March, and Republicans are poised to call tomorrow for an immediate debate on the scope of Operation Uphold Democracy...

Author: /time Magazine | Title: IN WASHINGTON | 9/22/1994 | See Source »

...complained that Moscow has fallen behind in dismantling of thousands of nuclear weapons called for under the Strategic Arms Reduction Treaty. The apparent reason: "internal turmoil and old thinking," Perry said, as well as the high cost. In response, he said, the U.S. will keep its long-range missiles till Russia gets off the dime. BTW: Russia still has 25,000 nukes -- enough to destroy the world many times over...

Author: /time Magazine | Title: HOLD THE DEFENSE CUTS | 9/20/1994 | See Source »

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