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S.E.C. Accuses 4 of Fraud At Financial News Network

Date: 29 June 1993

By John H. Cushman Jr

John Cushman

The Securities and Exchange Commission today accused four former officers of Financial News Network, the defunct cable television operation, of fraud and other securities violations for exaggerating FNN's financial results in 1989 and 1990. By manipulating the revenues from two of FNN's related companies, United Press International and International Research Network Inc., the officers consistently inflated the revenues of the troubled enterprise, according to a complaint filed in the United States District Court for the District of Columbia.

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In Detroit Beating Case, Pillory for Cub Reporter

Date: 28 June 1993

By Doron P. Levin

Doron Levin

The judge in a police beating trial here has cited a newspaper intern for contempt for telephoning a juror while testimony was still being heard in the case. But in an unusual twist, the judge ordered the intern, a summer employee of The Detroit News, to serve part of his five-day jail sentence in the courtroom dressed in prison garb. The judge, who had specifically ordered reporters not to speak with jurors, said while sentencing the intern on Friday that he had mistrusted the newspaper since his childhood. During the McCarthy era, the judge's father defended people accused of being Communists and was harshly criticized by the newspaper.

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Murdoch to Discuss Closing Post With TV Waiver Unsure

Date: 29 June 1993

By Edmund L. Andrews

Edmund Andrews

Lawyers for Rupert Murdoch suggested today that he might shut down The New York Post within days if he does not get the regulatory approval he is seeking from the Federal Communications Commission. To back up the thinly veiled threat, Mr. Murdoch has scheduled a hearing in bankruptcy court in New York City for Wednesday to discuss terms for ceasing publication. Mr. Murdoch's management agreement with the bankruptcy court expires that day.

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Dow Jones Quits Venture To Start Mexican Paper

Date: 29 June 1993

By Anthony Depalma

Anthony Depalma

A joint venture between The Wall Street Journal and El Norte, one of Mexico's biggest and most respected publishers, to create a daily newspaper in Mexico City has collapsed, partly over the thorny issue of control. Even without the Journal's direct investment, El Norte executives intend to publish a new Spanish-language daily in Mexico City. The as-yet unnamed newspaper is described as a general interest broadsheet, with a heavy emphasis on finances and stories that will appeal to the growing middle class in Mexico City.

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Poll Shows Raid on Iraq Buoyed Clinton's Popularity

Date: 29 June 1993

By Richard L. Berke

Richard Berke

President Clinton's decision to attack Iraq has brought him a substantial boost in approval ratings for handling both foreign policy and his overall job as President and has diminished uncertainty over his leadership on the world stage, according to the latest New York Times/CBS News Poll. The poll found that two-thirds of Americans surveyed supported the weekend air strike on the Iraqi intelligence headquarters in Baghdad, and six out of 10 approved of Mr. Clinton's general dealings with Iraq, more than approved of Mr. Clinton's handling of the crises in Bosnia and Herzegovina and Somalia.

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INSIDE

Date: 29 June 1993

Restructuring at CUNY City University trustees approved a plan to streamline the 21-college system, making allacademic programs subject to review. Page B1. Threat to Close The Post Rupert Murdoch took a step toward closing The New York Post if the F.C.C. does not move soon to grant him a regulatory waiver. Page B2. Replacing Aging Vehicles After delaying car and truck purchases, many Americans are heading to showrooms and helping revive the nation's auto industry. Page D1.

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TENNIS: Rotter on the Court!; Keeping Tabs on the Tabloids at Wimbledon

Date: 28 June 1993

By Maureen Dowd

Maureen Dowd

The Rotters were on the trail of Andre Agassi. "Who's going to ask about Streisand, then?" grumbled John (Jacko) Jackson, the white-haired, ruddy-faced dean of the wolfpack of British tabloid reporters, who proudly call themselves Rotters after the tenacious German dogs, Rottweilers.

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CITIBANK TO SELL MUNICIPAL-BOND TRUST BUSINESS

Date: 29 June 1993

By Bloomberg News

Bloomberg News

Seeking to expand its operations in municipal-bond processing, the State Street Bank and Trust Company said yesterday that it would acquire Citibank's municipal trust and agency business. The terms were not disclosed, but a Citibank official said that the sale would not have a "material" impact on its earnings. The sale is part of Citicorp's drive to concentrate on its core businesses.

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UNITED AIRLINES TO RETIRE 25 PLANES FROM FLEET

Date: 29 June 1993

By Bloomberg News

Bloomberg News

United Airlines Inc. said yesterday that it would retire 25 wide-body aircraft -- McDonnell Douglas DC-10's and Boeing 747's -- beginning this fall to pare excess capacity. The move, the latest in United's plan to slash $5.5 billion in expenses by 1996, is similar to one taken earlier this year by American Airlines.

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G.M. PLANS TO LAY OFF 2,150 AT WILLOW RUN PLANT

Date: 29 June 1993

By Bloomberg News

Bloomberg News

The General Motors Corporation will idle about 2,150 workers at its Willow Run assembly plant in Ypsilanti, Mich., starting this week. The layoffs may be permanent if a Michigan court rules in G.M.'s favor, allowing it to close the plant. The company wants to move production of its Chevrolet Caprice cars to Arlington, Tex.

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