Markets welcome rate hike

Article Abstract:

The Federal Reserve Board (Fed) raised interest rates by a quarter point on Nov 16, 1999, in a bid to prevent inflation from breaking out in the strong US economy. The increase is the Fed's third and last increase for 1999. Accordng to Bank of America economist Lynn reaser, the move is a constructive one that will sustain the expansion of the national economy. However, consumers will have to deal with higher interest rates on credit cards, auto loans/mortgages and home equity loans, while small businesses will have to deal with higher borrowing costs.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Banking Regulation, Banking law

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NHTSA expands tire investigation to other brands

Article Abstract:

The National Highway Traffic Safety Administration is intensifying its probe into Firestone tires to determine whether there is need to recall more tires. The decision to upgrade the investigation to a more intensive engineering analysis was announced in Aug 31, 2000. It covers 47 million tires manufactured from 1991 to 2000 that are similar to the 6.5 million tires that have already been recalled. It includes tires made by Firestone and marketed under different brand names including Sieberling Trailrider A/S, Gillette Force 4 and Triumph Terrain LT.

Tire Manufacturing (except Retreading), Tires, Bridgestone/Firestone North American Tire L.L.C.

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