Voice of America, 97-10-15

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From: The Voice of America <gopher://gopher.voa.gov>

CONTENTS

[01] EURO STOCKS (S ONLY) BY JACK HUIZENGA (LONDON)

[02] N-Y ECON WRAP (S & L) BY BRECK ARDERY (NEW YORK)

[03] TURKEY / KURDS (L ONLY) BY AMBERIN ZAMAN (ANKARA)

[04] WEDNESDAY'S EDITORIALS BY ANDREW N. GUTHRIE (WASHINGTON)

[01] EURO STOCKS (S ONLY) BY JACK HUIZENGA (LONDON)

INTRO: STOCK PRICES WERE DOWN IN TRADING WEDNESDAY IN EUROPEAN MARKETS. V-O-A'S JACK HUIZENGA HAS THE CLOSING MARKET REPORT FROM LONDON.

TEXT: SHARE PRICES WERE OFF WEDNESDAY IN ALL THREE MAJOR EUROPEAN MARKETS.

THE BIGGEST DROP WAS IN LONDON. THE FOOTSIE-100 INDEX LOST 35 POINTS, MORE THAN SIX-TENTHS PERCENT OF THE LONDON MARKET'S TOTAL VALUE. IN PARIS, THE CAC-40 INDEX CLOSED DOWN 13 POINTS, MORE THAN FOUR-TENTHS PERCENT.

AND IN FRANKFURT, THE DAX-30 INDEX FINISHED THE FLOOR TRADING DAY OFF ALMOST NINE POINTS, ABOUT TWO-TENTHS PERCENT, AND THEN FELL STILL MORE IN LATER COMPUTERIZED TRADING.

ON THE LONDON CURRENCY EXCHANGE, THE U-S DOLLAR LOST VALUE AGAINST THE GERMAN MARK, THE BRITISH POUND, AND THE JAPANESE YEN.
NEB/JWH/WFR
15-Oct-97 1:22 PM EDT (1722 UTC)
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Source: Voice of America

[02] N-Y ECON WRAP (S & L) BY BRECK ARDERY (NEW YORK)

INTRO: STOCK PRICES IN THE UNITED STATES WERE DOWN TODAY (WEDNESDAY) AS INFLATION FEARS REVIVED. V-O-A CORRESPONDENT BRECK ARDERY REPORTS FROM NEW YORK

TEXT: THE DOW JONES INDUSTRIAL AVERAGE CLOSED AT EIGHT-THOUSAND-57, DOWN 38 POINTS. THE STANDARD AND POOR'S 500 INDEX CLOSED AT 965, DOWN FOUR AND ONE-HALF POINTS.

ANALYSTS SAY TRADERS WERE CONCERNED ABOUT SEPTEMBER RETAIL SALES IN THE UNITED STATES THAT WERE STRONGER THAN EXPECTED. THAT CAUSED WORRY THAT INFLATIONARY PRESSURES COULD EMERGE AND LEAD THE U-S CENTRAL BANK TO RAISE INTEREST RATES BEFORE THE END OF THE YEAR.

THE BIG STORY ON WALL STREET INVOLVED A BIDDING WAR FOR THE M-C-I TELECOMMUNICATIONS COMPANY. G-T-E, A LOCAL TELEPHONE COMPANY IN THE UNITED STATES, IS OFFERING 28-BILLION DOLLARS IN CASH FOR M-C-I. TWO WEEKS AGO, WORLDCOM, ANOTHER TELECOMMUNICATIONS FIRM, OFFERED 30-BILLION DOLLARS WORTH OF STOCK -- NOT CASH -- FOR M-C-I.

THE STOCK OF A-M-R, THE PARENT COMPANY OF AMERICAN AIRLINES, HELPED TO LIFT THE TRANSPORTATION INDEX. CITING A STRONG U-S ECONOMY, A-M-R REPORTED BETTER-THAN-EXPECTED QUARTERLY EARNINGS AND SHARES IN THE COMPANY WERE UP.

CATERPILLAR, THE FARM AND CONSTRUCTION EQUIPMENT PRODUCER, REPORTED RECORD QUARTERLY PROFITS OF 385-MILLION DOLLARS. CATERPILLAR SAID LOWER DEMAND IN ASIA WAS MORE THAN OFFSET BY THE GROWTH OF SALES IN THE UNITED STATES.

THE FORD MOTOR COMPANY REPORTED A 64 PERCENT PROFIT INCREASE IN THE THIRD QUARTER, THE MOST IMPROVED PERFORMANCE AMONG THE THREE LARGE U-S AUTOMAKERS.

THE NAVISTAR CORPORATION SAYS IT WILL SPEND 650-MILLION DOLLARS TO DEVELOP A NEW GENERATION MEDIUM-SIZE TRUCK. THE NEW VEHICLE IS SCHEDULED FOR INTRODUCTION IN 2001. (SIGNED) NEB/NY/BA/LSF/RRM
15-Oct-97 5:25 PM EDT (2125 UTC)
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Source: Voice of America

[03] TURKEY / KURDS (L ONLY) BY AMBERIN ZAMAN (ANKARA)

INTRO: ONE OF THE MAIN IRAQI KURDISH FACTIONS IN NORTHERN IRAQ HAS ACCUSED TURKEY OF BOMBING VILLAGES UNDER ITS CONTROL. AMBERIN ZAMAN IN ANKARA REPORTS THE PATRIOTIC UNION OF KURDISTAN (P-U-K) SAID FOUR CIVILIANS WERE KILLED IN THE TURKISH AIR STRIKES.

TEXT: IN A STATEMENT, THE PATRIOTIC UNION OF KURDISTAN, THE P-U-K, ACCUSED TURKEY OF SIDING WITH ITS RIVAL, THE KURDISTAN DEMOCRATIC PARTY, THE K-D-P, IN FIGHTING WHICH BROKE OUT MONDAY BETWEEN THE TWO MAIN KURDISH FACTIONS.

TURKISH OFFICIALS DENY THE CHARGES, SAYING TURKISH MILITARY ACTIVITY IN NORTHERN IRAQ TARGETS ONLY OF THE KURDISTAN WORKERS' PARTY, THE P-K-K. TURKEY HAS BEEN CONDUCTING A THREE-WEEK-LONG CROSS-BORDER CAMPAIGN AGAINST TURKISH-KURD REBELS IN NORTHERN IRAQ WITH THE HELP OF THE K-D-P.

WESTERN DIPLOMATS SAY THEY HAVE NO REPORTS OF TURKISH STRIKES AGAINST P-U-K POSITIONS, EVEN THOUGH TURKEY HAS LONG ACCUSED THE P-U-K OF HELPING THE TURKISH-KURD REBELS. TURKISH OFFICIALS SAYS THEIR TROOPS ARE PULLING OUT OF THE WESTERN PROTECTED AREA IN NORTHERN IRAQ, NOW THAT THEY HAVE -- IN THEIR WORDS -- DEALT A DEADLY BLOW TO THE TURKISH-KURD REBELS. ABOUT 150 IRAQI KURDS ARE BELIEVED TO HAVE BEEN KILLED OR WOUNDED IN THE FIGHTING WHICH IS CONCENTRATED NEAR THE IRANIAN BORDER. THE FIGHTING ENDED A YEAR-OLD CEASEFIRE.

THE K-D-P SAYS THE P-U-K INITIATED THE LATEST ROUND OF FIGHTING. THE K-D-P SAYS THEY BELIEVE THE P-U-K IS BEING INFLUENCED BY BACKERS IN IRAN. K-D-P OFFICIALS SAY THEY BELIEVE IRAN IS USING THE P-U-K AS WELL AS THE P-K-K TO DISRUPT THE PEACE PROCESS IN THE REGION.

THE P-U-K ACCUSES THE K-D-P OF RESISTING ALL MOVES TOWARDS NORMALIZATION, INCLUDING NEW PARLIAMENTARY ELECTIONS. THE P-U-K ALSO ACCUSES THE K-D-P OF USURPING HUNDREDS OF MILLION OF DOLLARS IN BORDER TAXES LEVIED ON TRUCKS CARRYING IRAQI OIL SMUGGLED OUT OF NORTHERN IRAQ INTO TURKEY.

ANALYSTS SAY IT IS BECOMING CLEAR THE TWO MAIN IRAQI KURDISH GROUPS CANNOT BE RECONCILED. OFFICIALS OF BOTH GROUPS ARE SEEKING TO LEAD THE ESTIMATED THREE-MILLION IRAQI KURDS. THE TWO GROUPS HAVE FOUGHT MORE FREQUENTLY AGAINST EACH OTHER THAN AGAINST THEIR COMMON ENEMY, IRAQI PRESIDENT SADDAM HUSSEIN.

ANALYSTS SAY THE KURDS HAVE NOT BEEN HELPED BY INTERVENTION FROM THEIR NEIGHBORS -- IRAN, TURKEY, AND SYRIA. ALL THREE COUNTRIES ARE OPPOSED TO THE ESTABLISHMENT OF AN INDEPENDENT KURDISH STATE AND HAVE ENCOURAGED DIVISIONS AMONG THE VARIOUS KURDISH FACTIONS.

U-S AND EUROPEAN OFFICIALS SAY THEY WILL NOT GIVE UP EFFORTS TO FORGE A LASTING PEACE BETWEEN THE IRAQI-KURD GROUPS, SAYING THE TWO GROUPS REMAIN THE KEY ELEMENTS IN THE COALITION AGAINST IRAQI PRESIDENT SADDAM. (SIGNED)
NEB/AZ/JWH/RAE
15-Oct-97 9:54 AM EDT (1354 UTC)
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Source: Voice of America

[04] WEDNESDAY'S EDITORIALS BY ANDREW N. GUTHRIE (WASHINGTON)

INTRO: A DRAMATIC HANDSHAKE, BETWEEN BRITISH PRIME MINISTER TONY BLAIR AND SINN FEIN LEADER GERRY ADAMS, AT THE NORTHERN IRELAND PEACE TALKS, HAS CAPTURED THE IMAGINATION OF EDITORIAL WRITERS IN MANY PARTS OF THE UNITED STATES THIS WEDNESDAY.

THE ENVIRONMENT IS ALSO A POPULAR TOPIC, INCLUDING COMMENTS ON THE IMPERILED RAIN FOREST OF LATIN AMERICA AND THE WARNING ABOUT EL NINO CALIFORNIA CAN TAKE FROM THE ACAPULCO HURRICANE DISASTER. IN ECONOMIC COMMENTARY, THERE IS THE SITUATION IN SOUTHEAST ASIA TO CONSIDER, ALONG WITH PRESIDENT CLINTON'S CURRENT SOUTH AMERICAN TRIP, THAT INCLUDES COMMENTS ABOUT THE LATEST IN THE CAMPAIGN FINANCE INVESTIGATION AND ATTORNEY GENERAL JANET RENO.

AND LASTLY, THERE IS A SAD COMMENTARY ON THE LIFE OF JOHN DENVER.

TAKING A CLOSER A LOOK WITH US IN THE STUDIO NOW IS _______________________AND TODAY'S U-S EDITORIAL DIGEST.

TEXT: WITH MILLIONS OF IRISH-AMERICANS PROFOUNDLY INTERESTED IN THE PROGRESS OF PEACE TALKS CONCERNING NORTHERN IRELAND, THAT HANDSHAKE THE OTHER DAY IS DRAWING A GOOD DEAL OF COMMENT. "THE NEW YORK DAILY NEWS" SAYS IT OPENED A NEW ERA OF PROMISE, ADDING:

VOICE: I TREATED GERRY ADAMS AND THE MEMBERS OF SINN FEIN IN THE SAME WAY I TREAT ANY OTHER HUMAN BEING,' [MR.] BLAIR SAID AFTER THE FIRST FACE-TO-FACE MEETING BETWEEN A BRITISH PRIME MINISTER AND A SINN FEIN LEADER SINCE THE PARTITION OF IRELAND 76 YEARS AGO. LIKE ANY OTHER HUMAN BEING [ALL ITALICS FOR EMPHASIS]. THOSE ARE TRULY HISTORIC WORDS IN A WORLD WHERE DECADES OF SLAUGHTER HAVE LEFT GENERATIONS OF WIDOWS AND ORPHANS AND A LEGACY OF HATRED BRED IN THE BONE. PEACE COULDN'T COME BECAUSE THE LEADERS WOULDN'T EVEN MEET TO DISCUSS IT. THE HISTORIC HANDSHAKE OCCURRED BEHIND CLOSED DOORS ... BUT WORD OF IT SPREAD THROUGH BELFAST LIKE WILDFIRE. IN NO TIME, FIREBRANDS [EXTREMISTS] ON BOTH SIDES OF THE BLOODY CONFLICT CONDEMNED THE ACTION. ... OH, BUT THERE IS BLOOD ENOUGH ON EVERYBODY'S HANDS OVER NORTHERN IRELAND. THE POTENTIAL FOR PEACE MUST NOT BE SQUANDERED IN NAME CALLING.

TEXT: "THE LOS ANGELES TIMES" CALLS IT A HANDSHAKE FOR HISTORY, [AND A] PRAISEWORTHY GESTURE [WHICH] BOOSTS THE PROSPECTS OF IRISH TALKS, [OPT] WHILE "THE CHRISTIAN SCIENCE MONITOR" ADDS:

VOICE: PRIME MINISTER ... BLAIR SPANNED A HUGE GAP IN TRUST WHEN HE MET, AND SHOOK HANDS WITH, SINN FEIN'S GERRY ADAMS. CAN HE NOW TEMPER THE RESULTING OUTRAGE AMONG UNIONISTS ENOUGH TO BRING BOTH SIDES TO FRUITFUL NEGOTIATIONS ... IT IS EARLY TO SAY. BUT WE HAVE NO DOUBT THAT MR. BLAIR'S EMPHASIS ON TREATING ALL SIDES AS 'PARTS OF HUMANITY' IS AN INDISPENSABLE STEP IN THE RIGHT DIRECTION.

TEXT: TURNING TO THE ENVIRONMENT, AND SPECIFICALLY TO THE DEVASTATING HURRICANE DAMAGE PAULINE DID TO MEXICO'S TOURISTY SOUTHWEST COAST, "THE LOS ANGELES TIMES" CALLS IT A WARNING FOR CALIFORNIA, THE SITE OF A FEDERAL EL NINO PLANNING SUMMIT THIS WEEK.

VOICE: IN RETROSPECT, IT IS CLEAR THAT THE SCENARIO FOR DISASTER AND HUMAN TRAGEDY ON THE STEEP HILLSIDES ABOVE ACAPULCO BEGAN TO DEVELOP MONTHS AGO. THAT IS WHEN THE WEATHER PHENOMENON KNOWN AS EL NINO BROUGHT SEVERE DROUGHT TO THE HEIGHTS, WHICH WERE ALREADY LARGELY UNPROTECTED BECAUSE POOR WORKERS HAD CUT DOWN TREES OVER THE YEARS TO BUILD SHACKS FOR THEIR FAMILIES. HURRICANE PAULINE, MEXICO'S MOST POWERFUL STORM IN 38-YEARS, WAS THE FINAL COMPONENT. IT ... SENT RIVERS OF MUD, ROCK, AND DEBRIS DOWN THE HILLSIDES. MORE THAN 200 PEOPLE WERE KILLED. HUNDREDS ARE STILL MISSING, AND THOUSANDS ARE HOMELESS. ... NORTH OF THE BORDER, PREPAREDNESS AND 'KEEPING EVERYBODY'S FEET TO THE FIRE' WERE THE FOCUS OF TUESDAY'S EL NINO SUMMIT IN SANTA MONICA ..... FEDERAL OFFICIALS UNVEILED A NATIONAL CAMPAIGN TO HELP CITIES AND STATES PREPARE FOR NATURAL DISASTERS IN GENERAL DURING EL NINO AND TO MINIMIZE DAMAGE.

TEXT: "THE NEW YORK TIMES" IS FOCUSING ITS ATTENTION ON THE ON-GOING DESTRUCTION OF THE RAIN FOREST, WHICH IT SAYS WAS LARGELY IGNORED IN TALKS PRESIDENT CLINTON HAD WITH BRAZIL'S PRESIDENT, FERNANDO HENRIQUE CARDOSO ON HIS CURRENT LATIN AMERICAN TRIP. SAYS THE TIMES:

VOICE: THE ISSUE DESERVED BETTER, THOUGH NEITHER MAN IS COMFORTABLE WITH THE SUBJECT. WASHINGTON STILL SUBSIDIZES LOGGING IN AMERICA'S TEMPERATE RAIN FORESTS. BRAZIL HAS ABANDONED SOME OF ITS WORST POLICIES IN THE AMAZON, YET ... IS NOT ENFORCING ITS LAWS AND SEEMS OBLIVIOUS TO A RANGE OF NEW AND INSIDIOUS THREATS FROM TIMBER AND AGRICULTURAL INTERESTS. ... BRAZIL, LIKE THE UNITED STATES AND ASIA'S FORESTED NATIONS, MUST ABANDON THE VIEW THAT THE RAIN FOREST IS ONLY A COMMODITY TO BE EXPLOITED FOR PRIVATE GAIN.

TEXT: NOTING OTHER ASPECTS OF PRESIDENT CLINTON'S TRIP, TODAY'S "BOSTON GLOBE" SUGGESTS IT WAS A LONG TIME IN COMING.

VOICE: THE FACT THAT THE FREE-TRADE PRESIDENT WAITED UNTIL HIS SECOND TERM BEFORE BESTIRRING HIMSELF TO VISIT BRAZIL (WHICH BOUGHT MORE GOODS FROM THE UNITED STATES LAST YEAR THAN CHINA) OR VENEZUELA (WHICH PROVIDED MORE OIL TO THE U-S MARKET THAN SAUDI ARABIA) SUGGESTS NOT MERELY A CERTAIN PAROCHIALISM, BUT ALSO A FAILURE TO ADAPT AS QUICKLY AS BUSINESSES DO TO CHANGING CONDITIONS. ... IF [PRESIDENT] CLINTON'S VISIT CHANGES ANYTHING, IT SHOULD BE THE ASSUMPTION THAT SOUTH AMERICA CAN BE TAKEN FOR GRANTED AS WASHINGTON'S BACK YARD.

TEXT: THE FINANCIAL CRISIS ON THE OTHER SIDE OF THE WORLD, IN SOUTH ASIA'S EMERGING DEMOCRACIES, THAILAND, MALAYSIA, AND INDONESIA, APPROACHES A CRITICAL TIME ACCORDING TO "THE WASHINGTON POST".

VOICE: AT THIS UNEXPECTEDLY DIFFICULT TIME, THESE ASIAN 'TIGERS' COULD RETREAT TOWARD PREJUDICE AND PROTECTIONISM, SEALING THEIR FATES AS ECONOMIC BACKWATERS. OR THEY COULD TACKLE SOME OF THE FUNDAMENTAL PROBLEMS THAT LED TO THEIR CURRENT TROUBLES, IN WHICH CASE THEY COULD WELL RESUME WITHIN A YEAR OR TWO THE ECONOMIC GROWTH THAT HAS BEEN THEIR HALLMARK FOR MORE THAN A DECADE. UNFORTUNATELY, MALAYSIA'S PRIME MINISTER MAHATHIR MOHAMAD HAS BECOME THE LEADING APOSTLE OF THE FIRST OPTION.

TEXT: CONCERNING DOMESTIC EVENTS, "THE NEW YORK POST" GREETS THE RECENT EXTENSION OF JANET RENO'S INVESTIGATION OF PRESIDENT CLINTON'S 1996 CAMPAIGN FUND-RAISING WITH THIS DISPLEASURE.

VOICE: ANOTHER [ITALICS FOR EMPHASIS] 48 DAYS. THAT IS WHAT ATTORNEY GENERAL JANET RENO SAYS SHE NEEDS TO CONSIDER WHETHER TO CONTINUE CONSIDERING WHETHER TO APPOINT AN INDEPENDENT COUNSEL TO CONSIDER PRESIDENT CLINTON'S 1996 CAMPAIGN FUND-RAISING. IN OUR CONSIDERED OPINION, SHE IS ASKING TOO MUCH. WHAT CAN SHE BE EXPECTED TO DO WITH THIS SEVEN-WEEK EXTENSION? VERY LITTLE, OF HER PAST CONDUCT IS ANY GUIDE.

TEXT: AND LASTLY, SOME SAD COMMENTS ABOUT THE LIFE OF POPULAR FOLK AND COUNTRY SINGER JOHN DENVER WHO DIED SUNDAY IN THE CRASH OF HIS NEW EXPERIMENTAL AIRPLANE. "NEWSDAY" SAYS THE THRILL OF FLYING UNUSUAL PLANES LED TO HIS DEATH.

VOICE: THERE IS A SAD AND PERPLEXING IRONY IN JOHN DENVER'S DEATH. HE LIVED A LIFE SEEMINGLY DEDICATED TO THE GENTLE APPRECIATION OF COUNTRY ROADS AND ROCKY MOUNTAIN HIGHS. YET HE DIED IN A MECHANICAL AIRCRAFT, THE LONG-E-Z, WHICH THE NATIONAL TRANSPORTATION SAFETY BOARD REPORTS HAS BEEN INVOLVED IN 61 CRASHES SINCE 1983, TAKING A TOTAL OF 21 LIVES. AND HE FLEW WITH A SUSPENDED PILOT'S LICENSE.

TEXT: ON THAT NOTE, WE CONCLUDE THIS BRIEF SAMPLING OF EDITORIALS FROM AROUND THE COUNTRY IN OUR U-S EDITORIAL DIGEST.
NEB/ANG/RAE
15-Oct-97 10:26 AM EDT (1426 UTC)
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Source: Voice of America

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