European Stars and Stripes (Newspaper) - May 28, 1992, Darmstadt, Hesse                                Thursday May 28, 1992 the stars and stripes c Page 15money matters today a tip Northwest airlines and United airlines have broken ranks with american airlines new simplified fare Structure offering deals that Cut summer Domestic fares by half for family travellers. The fares announced late tuesday by Northwest and matched by United let an adult and a child travel for the Price of one within the Continental United states. Tickets must be purchased by june 5 at least seven Days in Advance for travel by sept. 13. A saturday night stay also is required. The fares represent a break with americans fare Structure. The airline Industry a pricing Leader said april 10 that it had simplified its ticket fare Structure from As Many As 30 rates in some markets to four. Conversion rates London up wednesdays 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 $338.45 an ounce Silver at $4.10. May 26 May 27 British Pound.1.8276 German mark.1.6095 French franc.5.4060 dutch guilder.1.8103 1-8363 belgian franc.33.16 italian lira.1.211-50 1.229-35 Swiss franc.1.4810 1-4,?54 greek drachma.191 65 193.70 turkish lira.6,768.90 6,826.30 saudi arabian riyal.3.7499 3.7499 Spanish peseta.100.45 101.73 portuguese escudo.133.58 135.25 Canadian dollar.1 2023 1 2025 austrian schilling.1133 11.47 norwegian krone.6.2780 6.3560 danish krone.6.2120 6.287j these arc commercial rates and can be related Only to the use of foreign currency by . Forces for official business. The Only official rates apply to the Sale of German Marks and British pounds to . Personnel for personal use. Through thurs Day these will be 1.59 Marks to a Dollar and $1.85 for a Pound based on noontime Price fixings wednesday at military banking facilities. New York Exchange new York up York Slock Exchange Stock Halliburton co Exxon corp occident a petrol Mobil corp Walt Disney co Baker Hughes nocal corp us Marathon Royal dutch pet Merck amp co inc general motors at amp to company global Marine British petrol Rwjr Nabisco hid a the 15 most Active composite trading on sales last 3.827.500 3.702.000 2.832.500 2.638,700 2,558,300 2.556.800 2.424.600 2,424,200 2.392.600 2.367.500 2.235.800 2.223.800 2.217.000 2.207,400 2,136.900 29�?T 64 23 67 37 a a 23v� 27yb 2 3 7i 89 49yb 38 41 vib 2 60 a stocks in new tuesday. Net chg. Up i up 3v5 up 1 vib up 3vs off vib up 1 vib up 1 vib up 15b up 4vb of 1 a off 1vb off 1v, unch up 2mi off Al american Exchange new York up the 10 most Active stocks in american Stock Exchange composite trading tuesday Stock i it i Jijun co la Western digital Hii  corp  mob Sci it a Bay mines am fully Fjellin i Ai of t com a i r.,1 j s. I us if j m a feul sales 1 376,000 1 081 100 /83600 /0 1.600 fab 400 524 /00 496 400 Tab 800 14/ 600 1&Quot 80u last 1 / 16 v w v6 2 it a a 1 i net chg Fott t 16 up w up i up i. N t a a up x u f it i. A i a a t. Dow Jones a in u 1�?T6 Low Jones dosing Unge o Mich Lua to kill . Economy May suffer if saudis let Oil prices Rise new York a the Specter of higher Oil prices has returned stirring speculation that Opecz a quest for More Money could hamper the . Economic recovery. Oil prices soared amid indications that saudi Arabia the worlds top exporter and a longtime proponent of moderate prices is ready to see the Price of crude Oil go up by As much As $3 per barrel. Although the kingdom has said it wants to maintain balance in the Oil Market sources in Vienna Austria where the organization of Petroleum exporting countries met last week said the saudis would not resist higher crude Oil prices. But senior Arab officials told the new York times that the move might be tactical to express dissatisfaction with a plan by the european Community to impose a gradual tax on Oil. The tax will Start with $3 a barrel this year and Rise to $10 a barrel by the end of the decade. Light Sweet crude Oil for delivery in july settled at $22 per barrel up $ 1.0b, in tuesdays session at the new York mercantile Exchange. If Oil rises $3 per barrel and the entire increase is passed on at the gasoline pump retail prices would Rise by about 7 or 8 cents a gallon analysts said. That  be As bad for Consumers As the persian Gulf crisis which doubled the Price of Oil during the fall of 1990 and sharply pushed up Petroleum product prices. But higher Oil prices can raise the Cost of just about everything. Even goods that Are not made directly from Petroleum must be transported so their Price will also be expected to Rise. The hints of a new saudi position were troubling to those who had been betting on a modest . Economic recovery. Dan Seto an economist at Nikko securities co. International inc. In new York said higher Oil prices could add about 1.5 percent to the . Inflation rate putting it at about 5 percent. If wages done to go up at least that much to Bridge the Gap Consumers will be Hurt. A a we will have to spend More Money on necessities and less on discretionary items a Seto said. T he shifting saudi position might also pose a threat to the widely circulated theory that saudi Arabia wanted to keep the Price of crude Oil Down through november As a payoff to president Bush for fighting the persian Gulf War. Mike Doyle of computer Petroleum corp., based in St. Paul minn., suggested that the saudis May have decided Bush a  a Lection is no longer certain and that they might As Well Start looking after their own economic interests. A it tells me that the saudis have said a president Bush our debt is now paid in full. Thank you very much. We did appreciate that a a Doyle said. Survey forecasts speedier recovery from wire reports Washington the lethargic . Economy will perk up a bit faster than previously estimated this year economic forecasters said wednesday. The National association of business economists said a Survey of 44 professional forecasters projected the Economy will expand by 2 percent in 1992, rather than the 1.5 percent estimated in a february poll. The forecast is modest compared with the 6.2 percent economic growth in 1984, a year after the previous recession ended in november 1982. But it also showed that forecasters continue to believe the Economy can avoid slipping Back into recession. A the probability of another recession occurring by years end is less than 1-in-5,�?� a summary said. Consumers also arc becoming decidedly More bullish the conference Board reported tuesday. The boards Index Rose to 71.6 in May from 65.1 in april and has jumped from 47.3 in february. A people Are grudgingly accepting that we  pulling out of the recession a said David Kelly who forecasts consumer spending at Dri Mcgraw Hill a Lexington mass., economic consulting firm. T he economists who were surveyed in late april and Early May estimated 3 percent growth in 1993, unchanged from february a estimate. The Bush administration is forecasting 1.5 percent growth this year anti 3 percent in 1993. A the acceleration of output through 1993 is due primarily to a strengthening of demand for investment Type goods on the part of both businesses and households a the report said. Business spending on new plants and equipment which dropped 6.6 percent in 1991, is expected to fall just 0.5 percent in 1992 before rising 5 percent in 1993, it added. Consumer spending which represents two thirds of the nations economic activity is forecast to increase 2.5 percent this year and 2.7 percent in 1993. Few of the economists expect further declines in interest rates. The Survey also forecasts inflation As measured by the consumer Price Index to be 3.2 percent in 1992 and 3.6 percent in 1993. Sony Philips dueling Over digital recording by the new York t Imes Sony corp. And Philips ., which Are Rushing to introduce competing technologies to record and play music digitally each disclosed parts of their strategies tuesday. Sony said tuesday that it would sell its min disc system for roughly $620 in Japan starting in november. The Price for the machine which will be available in the United states before Christmas undercuts the Price for the competing digital compact cassette machine developed by Philips and Matsushita. That machine will be priced at about $1,050 when it goes on Sale in Japan in september. In a related announcement Philips poly ram  Division said t tuesday that it would sell its digital compact cassettes to music retailers at the same prices As its compact discs. Sony said it had not yet released its pricing strategy for its min discs. But it said tuesday that its prices would he close to those for compact discs. Paul Gluckman managing editor of audio week an Industry newsletter predicted the two formats would get off to a slow Start in part because their head to head Competition might result in a wait and see attitude among Many Consumers. The digital compact cassette is in effect a digital version of the conventional audio cassette tape. Matsushita and Philips Are promoting the fact that Consumers will be Able to play exist my audio tapes on the newel machines but Soviv Vos its Mimisi will Appeal to consume i s Sci an a it us Quot i m i c of ii Civ pop 11 a i i i  1 time t i 111 to log v it a 1m it a 1 Laws h t i o a i h it in Iii 1 a tip o. I i i i 1 they do my wan to  1 ,. A i 1 i t i it 1 i. I i a i i 1 1. 1 o i n i be 11 of d i i if s of i i 111i ii j. I. 11 i i Iii i l i i 11 a la a i i ova it t 11. D i i \ i. Tt.111 i  i. I i in a \ w 1111 h ii Dii it d 11.1 i o i a i. Ii Ai a i business Ali i Pennzoil ordered to quit making performance claims from wire reports Newark . A Pennzoil co. Must Stop claiming its motor Oil outperforms others by preventing engine Wear and lasting longer a judge ruled tuesday. The injunction by . District judge Alfred Wolin requires Houston based Pennzoil to suspend the advertising by Friday. Wolin issued the ruling in response to a March lawsuit by Astral that contended the print and broadcast advertisements were false misleading and deceptive. Russians to work with at amp to new York a at amp to and Corning inc. Will tap the e expertise of More than 200 russian scientists under separate agreements announced t tuesday. The deals Are believed to he the largest Between West in companies and researchers in the former soviet Thuon. I he at amp to Deal invoices i Seaich in Lihcit optic Cal the hair thin strands of Glass used increasingly in place Topper phone cables. Researchers from Ai amp 1 s it 1 Tbs will Woik with 100 scientists from Llic i Neial Piini is Institute of the russian Ai at my Olsi u m is in to i l ii l l Luj limit i i is i a i i is .11 l la i i i i till i i it a i Quot i i i i. A h11 a i in a in m i. I i i d Ltd a in it a t he Uitz i 1 m. I Quot 1 i i 11 i i Huol Ell