Reported by Star-Bulletin staff & wire
Thursday, November 21, 1996
Reported by Star-Bulletin staff & wire
Thursday, November 21, 1996
WASHINGTON - Thirty-year, fixed rate mortgages averaged 7.53 percent this week, down from 7.59 percent last week, according to a national survey released today by the Federal Home Loan Mortgage Corp. It was the lowest since March 7, when rates averaged 7.38. percent. 30-year mortgages
keep falling, at 7.53%On one-year adjustable rate mortgages, lenders were asking an average initial rate of 5.48 percent, down from 5.52 percent last week. Fifteen-year mortgages, a popular option for those refinancing mortgages, averaged 7.06 percent this week, down from 7.11 percent a week earlier.
COLUMBUS, Ohio - CompuServe Inc.'s stock tumbled today as investors reacted to the company's $58 million second-quarter loss that underscored its troubles competing with cheaper providers of online and internet service. CompuServe’s stock dives
on $58 mil lossCompuServe posted the loss after financial markets closed yesterday. Its shares fell 94 cents to close at $10.69 on Nasdaq. The Columbus, Ohio-based company blamed the loss for the quarter ended Oct. 31 on a delay in shipping new software and continued defections of customers from the online computer service.
CompuServe also said it would eliminate its family oriented WOW! service effective Jan. 31. The service was started in March.
WASHINGTON - A survey done in cooperation with a congressional committee suggests that more than half the major corporations in America have been victimized by computer break-ins, USA Today reported in today's editions. Survey: Cyberspace crime
is widespreadFifty-eight percent of the companies that responded said they had experienced a break-in in the past 12 months and nearly 18 percent said they suffered losses of more than $1 million. Two-thirds reported losses exceeding $50,000.
More than a fifth of the break-ins were believed by the corporations to be the work of competitors, the survey found.
The newspaper said 236 out of 500 companies questioned responded to the survey.
WHITE PLAINS, N.Y. - The Equal Employment Opportunity Commission is seeking to participate in the $176 million settlement of the Texaco discrimination lawsuit, saying it wants to make sure the deal leads to changes at the oil giant. EEOC asks to join
Texaco settlementThe 1994 suit claimed a "good old boy" network at Texaco ensured that whites received the best promotions and biggest raises. The company decided to settle after plaintiffs obtained a secretly recorded tape of company executives belittling black workers and plotting to destroy documents.
The EEOC yesterday asked court permission to participate in the settlement. Chairman Gilbert Casellas said his agency wants to make sure it produces the changes needed for "real long-term relief at Texaco." The EEOC did not take issue with the terms of the deal.