Day 1 of London stock blitz London
The City of London initiated its biggest upheaval Monday since share dealing moved out of coffee shops and into the London Stock Exchange two centuries ago.
The full blast of international competition came as a wholesale package of deregulations dubbed the ``Big Bang.'' At the heart of the shake-up is the ending of so-called ``single capacity,'' in which there was strict demarcation between jobbers -- the traders who actually make markets in shares -- and brokers, the people who buy and sell them for investors. Eagle flies again at US Mint Washington
The United States Mint resumed sales of the new US gold coin Monday, with officials expecting the supply of 152,000 ounces of coins to be snapped up quickly.
The Eagle coins first went on sale Oct. 20, but by the next day the mint had to suspend sales because its supply of 800,000 coins had been sold out. Officials put together a backup plan to hold sales once a week on Mondays. Officials will allocate the available coins among 25 primary dealers. Those dealers said they have had indications they will be allowed to purchase only 5,000 ounces each this week, far short of orders received. US miners' union laying plans Atlanta
The United Mine Workers Union convened the first special constitutional convention in its 97-year history Monday, a session designed to outline goals for the next round of contract talks. The contract expires Jan. 31, 1988.
Besides outlining contract goals, delegates will be asked to do away with a cap on assessments for a strike fund and to give union leaders authority to merge or affiliate with another labor organization. Canada protests US trade fee Geneva
Canada has gone before the world's main free-trade forum to protest a new United States import surcharge designed to help pay for the cost of customs processing.
Canadian Ambassador Alan Beesley, addressing the Council of the General Agreement on Tariffs and Trade on Monday, accused the US of a ``retrograde step at a time when we are seeking to liberalize trade.'' He also charged that a US levy on oil and oil products, which finances a toxic waste cleanup program known as Superfund, discriminates against imports.
The European Community voiced support for Canada's position.