Fed holds tight on rates
The Federal Reserve decided yesterday against boosting interest rates for a seventh time this year, but analysts predicted the Fed would be quick to act in 1995.
Given the economy's strength and the risk of inflation, private economists said another round of rate increases is almost certain. After meeting for nearly four hours, the Federal Open Market Committee said the session had ended and that "we have no further announcements."
Windows 95 delay foreseen
Microsoft Corp. said yesterday that its Windows 95, much-anticipated successor to its Windows 3.1 computer operating system, may not be available until August, the third delay for a product that was originally supposed to be shipped this month.
The news sent Microsoft's shares skidding to $59.875, down $2.75.
Mexican peso tumbles 14%
The peso tumbled 14 percent against the dollar yesterday after the Mexican government lowered the currency's official trading floor, moving to calm financial markets rattled by the prospect of renewed unrest in Chiapas.
In late Mexico City trading, the dollar was quoted at 3.9650
pesos, compared with 3.4635 late Monday. The downward move brought the peso to yet another record low vs. the dollar.
The peso has been sliding for months as investors, fearful of another rebel flare-up in southern Mexico, pulled funds out of Mexican securities.
Home Depot accused of sex bias
Home Depot, the nation's biggest home-improvement chain, was accused in a lawsuit filed yesterday in U.S. District Court in San Francisco of discriminating against women in hiring, pay, job assignments and promotions. The suit by two law firms seeks unspecified damages on behalf of eight current and former employees.
"Women were confined to certain parts of the store, men were promoted over women, women were paid less and confined to menial jobs," said Nancy Thompson, spokeswoman for the lawyers.
The Atlanta-based company defended its hiring practices and said it will conduct its own investigation into the allegation.
Times Mirror board addition
The Times Mirror Co. yesterday announced that C. Michael Armstrong, chairman and chief executive officer of GM Hughes Electronics Corp. and subsidiary Hughes Aircraft Co., will join its board, pending the completion next month of the merger of Times Mirror's cable TV business with Cox Communications Inc.
Mr. Armstrong, 56, is also a trustee of the Johns Hopkins University and chairman of the advisory board of Johns Hopkins RTC Medical School.
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