European Stars and Stripes (Newspaper) - July 1, 1991, Darmstadt, Hesse                                Monday july 1, 1991the stars and stripes Page 17moneymatterstoday�?Ts tip credit card abuse May be growing at alarming rates in the United states particularly in glitzy regions like Southern California. A a we re seeing about 30 percent More people this year than we did last year a said Pamela Tobias general manager of the dozen consumer credit counselling service offices in los Angeles county. A what we tend to see is a lot of people who have been overspending by using their credit cards then get hit by either being Laid off or taking a  for. Those who do borrow too much Tobias offers some simple advice either increase your income or decrease your spending. Make a budget and stick to  rates London up fridays rates for the . Dollar to other currencies. Figures Are expressed in dollars to the British Pound other local currencies in dollars Gold was quoted at $368.50 an ounce Silver at $4.46. June 27 june.28 British Pound .1.6335 1.6185 German mark.1.7913 1.8115 French franc.6.0965 6.1445 dutch guilder.2.0173 2.0365 belgian franc.36.86 37.25 italian lira.1,334.80 1,347.70. Swiss franc .1.547 1.557 greek drachma.196.29 197.88 turkish lira.4,287.904,316.90 saudi arabian riyal.3.7503 3.7503 Spanish peseta.113.37 113.30 portuguese escudo.157.34 157.65 Canadian dollar.1.142 1.142 austrian schilling.12.601 12,72 norwegian krone.6.99 7.0525 danish krone.6.924 6.9845 these Are unofficial rates As reported by wire service and banking sources and they Are listed to give some idea of daily currency fluctuations. The Only official rate concerns the Sale of German Marks to . Personnel for personal use and this will be 1.77 through monday based on fridays noontime  probing microprocessor Leader Intel the new York times san Francisco the Federal Trade commission has begun an investigation into the Intel corp., which dominates the Supply of microprocessors for computers the company has said. The investigation is the second one by the Etc in the computer Industry. The Microsoft corp. Recently disclosed that the Etc has asked it for information. Microsoft dominates the Supply of Basic operating system software for personal computers much the Way Intel dominates the Supply of microprocessors. In either Case analysts said proving antitrust violations will be difficult. Personal computer makers have Long complained about Intel a stranglehold on the Industry. Until recently Only Intel manufactured the 386 and 486 chips at the heart of the most powerful personal computers made by ism the Compaq computer corp. And others. Recently advanced Micro devices inc. Began offering its own versions of the 386, but it is still involved in litigation with Intel. New restrictions on i by William j. Eaton los Angeles times Washington the chinese government can be expected to keep pushing exports to the United states and curtailing . Imports despite a record $10.4 billion . Trade deficit with China the Central intelligence Agency has predicted. Even so two Bush administration officials said the renewal of most favored nation status for China is essential to keep up pressure on Beijing to adopt a More Liberal Trade policy that would help the United states gain markets there. Rapidly growing chinese exports to the United states now account for nearly one fourth of China a foreign sales while . Merchandise exports to China dropped sharply last year the Cia reported to Congress joint economic committee. In the two years since the military crackdown at Tiana men Square the Agency added in its annual assessment of China a Economy that the Beijing regime has devalued its currency and taken other Steps to accelerate exports while erecting barriers to imports. Export led growth helped China a Economy Bounce Back from recession in 1990, the Cia sind but its severe import restrictions May trigger a backlash from trading partners. A the United states a crucial to China in the first half of the �?T80s primarily As a source of technology and training a has emerged As China a Foremost Export Market a the Cia report said. Quot China s exports to the United Stales expanded on average More than 30 percent yearly throughout the 19s0s. 10 times As fast As China a purchases from the United states. A last year chinese exports to the United states increased 27 percent to $15.2 billion a accounting for nearly one fourth of China a sales a while . Merchandise exports to China fell 17 percent to $4.8 billion boosting the . Trade deficit with China to $10.4  sen. Jeff Bingaman d-n.m., said China so one sided policy May not fully explain the . Trade deficit but it surely accounts for a Large part of  As a result of its Export promotion policies and a Clampdown on imports China a foreign Exchange holdings Rose to nearly $36 billion the Cia report said. The country increased its Trade surplus with the european Community to $4.9 billion and nearly doubled its Trade surplus with Japan to $5.2 billion according to the report. A the chinese leadership a continued emphasis on Export growth without import liberalization risks foreign protectionism a the report concluded. Joseph a. Massey assistant . Trade. Representative for Japan and China acknowledged that there Are a serious problems with China a Trade policy despite a change for the better in the country a Overall economic policies since . Recognition of Beijing in 1979. A in the space of Only 10 veats China emerged from self imposed isolation to become a participant m the global trading Community aware of the Community a rules and increasingly sensitive to its criticisms a Massey said. A Over the last two years however China a Trade policies have skewed the bilateral Trade relationship increasingly in China a favor. The United states now runs a substantial and growing Trade deficit with China. The deficit reflects a decision by China to resort to protectionist  but Massey argued that withdrawing most favored nation status from Beijing would a result in a serious loss of leverage that would make it exceedingly difficult for the United states to obtain any concessions from  status allows individual nations to Benefit from the lowest tariffs that the United states offers. The Cia report said that China a Domestic Economy fuelled by major injections of credit from Japan and other sources has shown a Sharp increase in Industrial output and two years of bumper Grain crops. But the analysis said that the state run sector is still weak and that inflationary pressures Are growing in the absence of comprehensive measures to improve productivity. Pan am asks for offer after Delta shows interest in parts of airline new York a Delta air lines says that after taking a Long look at pan american world airways it wants parts of the troubled Carrier but not the whole company. Pan am which previously said it did not want to sell any More assets quickly abandoned that position by asking Delta to make an offer. Delta a announcement eliminated one Hope that pan am had been holding onto in efforts to find a merger partner or a buyer and extricate itself from chapter 11 bankruptcy. A a that a like commenting on your spouse or Girlfriend and saying a i like your eyes and face but not your legs a a said Mark Daugherty an airline analyst at Dean Witter Reynolds inc. _ a unfortunately pan am is a distressed seller and does no to have a lot of negotiating Power a he said. A it could turn out to be an Opportunity for  Delta expressed interest in a package that would include the pan am shuttle pan am a trans at Antic routes its. Frankfurt Germany tub and related air Craft and facilities. Delta would also consider Job offers to thousands of pan am employees chairman Ronald w. Allen said in a statement. Neither Side would offer any estimated Price for the assets. A a pan am chairman Thomas g. Plaskett said he was a pleased to learn that Delta has indicated a Strong  he asked Delta to soon submit a definitive proposal. A a we re going to consider their invitation a said Delta spokesman William Berry. A this is the first time they be said a we will consider an offer for less than the full  a Delta will first need to find out what pan am Means by a a definitive proposal a Berry said. A we really like to take our time and make sure we done to make any mistakes a Berry said. A we done to really know How serious they Are a if they re curious or if they re  United airlines has also met with pan am but Only to discuss the Purchase of some assets. That shattered pan am a Hopes that its recent Sale of prize London routes to United and an accompanying marketing agreement might eventually turn into a merger. United on Friday would not say however How it might respond to pan am a apparent willingness to sell some assets. One asset Delta did not express interest in is pan am a expansive latin american route Structure which sources have said United had been looking at. Industry analysts said pan am needs to Cut a Deal soon before the Peak summer season makes Way for the Money losing fourth Quarter. Pan am is in chapter 11 of the bankruptcy court but creditors have agreed not to pressure the Carrier while it seeks a merger partner or a buyer this summer. Although Delta and United had been considered the most Likely potential suitors for pan am recent reports have indicated that Hyatt hotel chief Jay a. Pritzker was considering an offer for pan am. Pritzker had no comment Friday on pan am a spokeswoman said from his Chicago office. Monsanto to Cut 2,500 jobs shut plants the new York times the Monsanto co. Plans to eliminate about 2,500 jobs and close three plants to improve efficiency and earnings. The company based in St. Louis said Friday that it hoped to achieve most of the Job cuts through a voluntary program that includes Early retirement said Scarlett l. Foster a spokeswoman. The restructuring primarily affects the company a largest unit the Monsanto chemical co., which accounts for about 44 percent of Monsanto a sales. The unit will lose about 1,750 jobs Foster said. Monsanto also plans to Cut 130 jobs from its american corporate staff and 75 jobs from its International corporate staff she said. The remaining cuts will come from other parts of the company. The restructuring does not come for Lack of performance from Monsanto chemical said a. Nicholas Filippello the company a chief economist. During the last part of the 1980s, the company was reaching about 20 percent return on capital Filippello said. To maintain that performance he said a it is necessary to do some  the three plants to be closed employ a total of 200 people Foster said. The plants Are in Carson and Long Beach calif., and in Everett mass