Briefs
$2M study The chairman of Chase Manhattan Bank said the financial giant may leave the national banking system unless Congress enacts legislation allowing it to compete in the world financial market. Mr Willard Butcher, chairman and chief executive officer of the nation’s third largest bank, said Chase was spending $US2 million to study whether it should continue its status as a bank or leave the banking system to become a financial services company.
Borrowing down Borrowing activity on the international capital markets continued at a subdued pace in January, 1987. According to preliminary data, the aggregate volume of medium and long-term funds raised on the market totalled $US24.1 billion, which represents a $1.8 billion decline from December and a 10 per cent shortfall from the average monthly volume recorded in 1986, said an O.E.D.C. report. Copper prices Mount Isa Mines, Ltd, said it has raised its copper prices by $Aust20 to $2120 a tonne for cathodes and $20 to $2287.50 a tonne for standard rods, effective from -today.
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Press, 25 February 1987, Page 33
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169Briefs Press, 25 February 1987, Page 33
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