Md. agency to move to 6 St. PaulThe state Department of...

BUSINESS DIGEST

April 20, 1993

Md. agency to move to 6 St. Paul

The state Department of Juvenile Services will be the first agency to move its headquarters to the new state office building at 6 St. Paul Centre, the state Department of General Services said yesterday.

The move will save the state $533,000 in annual rent compared to the department's old headquarters at 321 Fallsway. As many as 12 agencies might move to the former Merritt Commercial Savings & Loan tower, which the state bought last month for $12.2 million.

U.S., European trade officials talk

Top U.S. and European Community officials met yesterday in a final effort to resolve a market-access dispute that could determine the nature of trans-Atlantic trade under President Clinton.

Unless a deal materializes by today, the Clinton administration -- which says an EC rule favoring EC companies in public-sector contracts discriminates against U.S. companies -- has threatened sanctions on the 12-nation bloc.

UAW says Mack threatens closings

Mack Trucks Inc. wants to close its headquarters in Allentown, Pa., and a nearby assembly plant and cut operations elsewhere if it doesn't get contract concessions, the United Auto Workers union said.

About 3,000 workers from the Allentown area; Hagerstown and Severn, Md.; Winnsboro, S.C.; and Atlanta are expected to vote on the demands by the end of this month.

Amoco, China in oil venture

Amoco Corp. said it signed a $1.5 billion joint venture agreement with China to develop the nation's largest offshore oil field. Chinese interests, including state-owned China National Offshore Oil Corp., are taking 51 percent of the venture. Amoco Orient Petroleum Corp. is to be the operator, with a 49 percent stake. The venture expects to spend $650 million through 1997 to develop the Liuhua 11-1 oil field, in the South China Sea.

New offer for shopping network

Liberty Media Corp., which barely a week ago withdrew an offer to buy Home Shopping Network Inc., returned yesterday with a scaled-down offer to increase its stake to 40 percent.

The $105 million offer, for 15 million shares of HSN common stock at $7 each, was mostly a show of faith in the television network, which recently has been staggered by legal problems.

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