IN BRIEF.VALLEY INDEX UP: Shares in the Daily News Index were mostly higher Monday, led by Camarillo-based Vitesse Semiconductor and Semtech Corp. of Newbury Park. Vitesse shares rose $5.1875 to close at $56.625, while Semtech shares gained $3.9375 to close at $34.125. - Daily News T-BILL YIELDS DIP: Interest rates on U.S. Treasury securities U.S. Treasury securities Interest-bearing obligations if the U.S. government issued by the U.S. Department of the Treasury as a means of borrowing money to meet government expenditures not covered by tax revenues. were mixed Monday, as yields on three-month T-bills dipped to their lowest level since October. The government sold $6.5 billion worth of three-month bills at a discount rate of 4.265 percent, and an additional $7.5 billion worth of six-month bills at a rate of 4.35 percent. Separately, the Federal Reserve said the average yield for one-year Treasury bills, often used as a benchmark for making changes to adjustable rate mortgages This article is about the US mortgage type. For an international perspective, see Variable rate mortgage. An adjustable rate mortgage (ARM) is a mortgage loan where the interest rate on the note is periodically adjusted based on an index. , fell to 4.72 percent, from 4.75 percent the week before. - Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. WAGE AGREEMENT: A Sun Valley-based manufacturing firm will pay $107,270 in back wages to immigrant workers, a lawyer at the U.S. Department of Labor's Glendale office said Monday. In a federal complaint, the Labor Department The Department of Labor (DOL) administers federal labor laws for the Executive Branch of the federal government. Its mission is "to foster, promote, and develop the welfare of the wage earners of the United States, to improve their working accused Exotic Granite and Marble Inc. of submitting misleading information so it could hire foreign workers foreign workers Those who work in a foreign country without initially intending to settle there and without the benefits of citizenship in the host country. Some are recruited to supplement the workforce of a host country for a limited term or to provide skills on a and pay them less than they should have earned for the work they were doing, said attorney Rolene Otero. Ram M. Nemani, the company's president, signed a settlement agreement that calls for the company to pay the back wages, plus $3,000 in penalties, Otero said. - City News Service CORDLESS cord·less adj. Having no cord, usually using batteries as a source of power: a cordless telephone. cord COMPUTING - Newbury Park-based modem maker Xircom Inc. said it has launched new product kits that let customers use their Nokia cellular telephones to send faxes and connect to the Internet with their laptop computers. - Daily News |
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