Fleet Street Is Once Again On Barricades
Date: 12 March 1995
By John Darnton
John Darnton
After reading reviews of his performance, a comic actor and writer developed such a paralyzing case of stage fright that he walked out of the West End play and boarded a ferry for the Continent. An octogenarian politician who is one of the country's best-known figures was accused by a newspaper of being a tool of the K.G.B. He decided that enough was enough and sued the paper for libel for "calling me a traitor to my country."
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Don Cook, Author And Journalist, 74
Date: 11 March 1995
Don Cook, a foreign correspondent who covered the end of World War II in Europe and Western Europe's postwar recovery for The New York Herald Tribune and later for The Los Angeles Times, died on Tuesday at his home in Philadelphia. He was 74. The cause was a heart attack, his family said.
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FORT HOWARD RETURNS TO THE MARKET
Date: 11 March 1995
By Bloomberg News
Bloomberg News
The Fort Howard Corporation, which became a private company seven years ago, returned to the public markets yesterday after lowering the price of its initial public offering three times. Morgan Stanley Group Inc., the lead underwriter for the offering, sold 25 million Fort Howard shares at $12. Originally, it planned to sell the shares for $23 before lowering the price to between $14 and $16 last month. Almost seven million shares traded yesterday on the Nasdaq system. The shares closed at $12.1875, up 18.75 cents. The company -- which is based in Green Bay, Wis., and makes Mardi Gras paper napkins and Soft'n Gentle toilet paper -- raised about $300 million through the offering. The stock sale is part of a $1.54 billion recapitalization of debt securities and bank debt.
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Foreign-Chip Gain in Japan
Date: 11 March 1995
By Bloomberg News
Bloomberg News
The foreign share of the Japanese semiconductor market, a closely watched measure of United States-Japan trade relations, rose to 23.7 percent in the fourth quarter of 1994, the United States trade representative's office said today. It was the largest quarterly percentage ever. For all of 1994, the average foreign share was 22.4 percent, up from 19.4 percent in 1993 and 16.7 percent in 1992.
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Data on Credit Had Big Error
Date: 11 March 1995
By Bloomberg News
Bloomberg News
The Federal Reserve disclosed today that it had made a $ 4 billion "miscalculation" in its report earlier this week on January consumer credit, but it refused to say how the error happened. Consumer installment borrowing rose $ 7.645 billion in January, not $ 3.673 billion as the Fed first reported on Tuesday. The December increase of $ 6.554 billion was not revised.
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Jobs Data Push Dollar Up, With Fed Rate Rise Seen
Date: 11 March 1995
By Bloomberg News
Bloomberg News
The dollar rose against most major currencies for a third day yesterday after a jobs report that was stronger than expected caused traders to speculate that the Federal Reserve would soon push interest rates higher again. A rally in the Mexican peso also helped the dollar, traders said. The peso has been affecting the dollar recently because many investors are concerned that the United States has become a lender of last resort to Mexico.
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Brazil Currency Moves Spur Huge Rise in Latin Markets
Date: 11 March 1995
By Bloomberg News
Bloomberg News
The president of Brazil's central bank said today that the Government would defend the nation's currency at all costs and declared that speculative attacks against the Brazilian currency, the real, had failed. Officials moved early today to stop the outflow of foreign reserves by raising interest rates and limiting dollars that banks can hold in foreign-exchange operations. A series of measures caused the real to gain 2.7 percent against the dollar in early trading, and the main Sao Paulo stock market index to soar by 25.62 percent in a single day.
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NEWS SUMMARY
Date: 11 March 1995
International 2-5 PAKISTAN'S WORSENING VIOLENCE At least 11 people died in an attack on a Karachi mosque. The assault, two days after the slaying of two Americans, intensifies a feeling that the city's ethnic and religious violence is growing worse. 1 INQUIRY EXPANDS IN MEXICO Mexican officials say a former Deputy Attorney General charged with trying to thwart an investigation into the slaying of his own brother also appears to have embezzled Government funds. 3 SOLVING THE COCAINE PROBLEM Gabriel Garcia Marquez, a writer and Nobel Prize winner, proposes a new solution for the eternal problem of Colombia's cocaine exports to the United States. 3 P.L.O. PLEDGE TO FIGHT TERRORISM Yasir Arafat promised Secretary of State Warren Christopher that he would do his best to prosecute Palestinian terrorists, but he blamed Israel for helping create the groups responsible for terrorism. 5 BOMB ATTACK IN ALGERIA Hours after a new warning from Islamic militants, a car bomb exploded in Algiers near housing for police officers and their families, wounding at least 63 people. 5 CHINA CONCILIATORY ON RIGHTS Beijing said it would continue its human rights dialogue with the U.S. despite "foolish" attempts to censure China over its rights record. 5 Russia agrees with the I.M.F. on a ¦6.4 billion loan. 5 The U.S. is suspending the last of its military aid to Guatemala. 3 Liverpool Journal: Big Brother is definitely watching. 4 National 6-9 SHIFT IN C.I.A. NOMINEES Michael P. C. Carns withdrew as the President's choice for Director of Central Intelligence, and Mr. Clinton immediately chose John M. Deutch, the Deputy Defense Secretary, for the post. 1 DOOMED BY BACKGROUND CHECK When the F.B.I. background report on General Carns reached the White House, everyone involved decided that the nominee might be dragging too much baggage into hearings before a Republican Congress. 1 APOLOGY FOR A DOOMED IDEAL On the 30th anniversary of the Selma march, George Wallace, one-time nemesis of the civil rights movement, offered words of conciliation to those he had oppressed while Governor of Alabama. 1 JOBLESS RATE FALLS TO 5.4% An unexpectedly large number of Americans found new jobs in February, as the unemployment rate matched a four-year low, dropping three-tenths of a point to 5.4 percent. Financial traders rushed exuberantly to buy American assets. 1 CIVIL-SUIT LIMITS PASS In an effort to discourage lawsuits, the House easily passed a measure that would set standards and curtail damage awards in civil courts. 1 PRIDE OF MAINE, ON COURT OR OFF The best athlete in the Maine is a home-bred female basketball player for the Black Bears of the University of Maine. 6 REVERSAL ON NUCLEAR WASTES In a second tribal vote, the Mescalero Apaches of New Mexico reversed their January decision against storing nuclear waste on their land. 6 TESTIMONY ON SIMPSON'S BRONCO A detective testified about a puzzling array of items found in O. J. Simpson's Bronco, including a shovel and large plastic bag. 6 SENATE'S TURN WITH BUDGET AX Republicans proposed abolishing four Cabinet agencies and cutting up to $500 billion from the growth of entitlement programs. 8 MINISTERING TO THE WORLD Religion Journal: In a three-part program the Rev. Billy Graham will try to tell one billion people, a fifth of the world, about Jesus. 9 Destructive rains pounded Northern California for a second day. 9 Metro Digest 25 Business Digest 37 Sports 30-35 CHICAGO AWAITING JORDAN The possibility that the marginal minor league outfielder Michael Jordan may return to basketball and the Bulls is the talk of the Second City. 1 Baseball: Mets grouse; Green smiles. 34 Basketball: Knicks lose to Hawks. 31 UConn and Georgetown advance. 31 Wake Forest ends Duke's season. 31 Colgate joins N.C.A.A. party. 33 Columns: Vecsey on the Big East. 31 Figure Skating: Bobek leads at worlds. 35 Hockey: Devils defeat Lightning. 34 Tennis: Chang is upset. 33 Arts/Entertainment 11-19, 49 Messiaen festival in Paris. 11 Music: An examination of Jewish music. 11 Valery Gergiyev and the Philharmonic. 17 Penderecki on Penderecki. 17 Dance: "Chaplin Dances." 11 Merce Cunningham revives "Rune." 16 Obituaries 10 William Joseph Cotter, ex-official of the C.I.A. and the Postal Service. Editorials/Op-Ed 22-23 Editorials The oil industry's Iran policy. The lies about Youth Services. Women's or hoodlums' rights? Secrecy rules, secretly arrived at. Letters Russell Baker: Dreamers, axes in hand. Georges de Menil: Chernobyl, a living tomb. Farai Chideya: Affimative action as equality? I'm still waiting. Jennifer L. Eberhardt, R. Richard Banks: Rutgers, race and reality. Chronicle 24 Bridge 19 Crossword 16
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NEWS SUMMARY
Date: 12 March 1995
International 3-21 U.N. MAY REMAIN IN CROATIA The West has struck a tentative deal with Croatia that would allow a sharply reduced U.N. contingent to remain in the country, U.S. officials said. The West fears a pullout might worsen the Balkan war. 1 The 12,000 peacekeepers in Croatia struggle in an uneasy role. 14
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Man in the News: John Mark Deutch; Reluctant Helmsman for a Troubled Agency
Date: 11 March 1995
By Tim Weiner
Tim Weiner
If intelligence were the sole prerequisite for the job of Director of Central Intelligence, John M. Deutch, the Deputy Defense Secretary, would be extraordinarily qualified. His colleagues say he has a first-class mind, with an ego and energy to match it. In two years at the Pentagon, Mr. Deutch has shaken up multibillion-dollar programs, taken a leading role on foreign policy issues, confronted the problem of the spread of nuclear weapons and represented the United States abroad.
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