EC readies retaliatory sanctionsThe European Community is...

BUSINESS DIGEST

June 03, 1993

EC readies retaliatory sanctions

The European Community is poised to apply a $15 million package of retaliatory trade sanctions against the United States next week in a dispute over government contracts, but it did not expect the dispute to deepen.

EC officials said representatives of the 12 EC states decided yesterday to set limited countersanctions in response to Washington's announcement last week of trade curbs totaling $20 million against the EC.

ABC to bill cable systems

Capital Cities/ABC Inc. said yesterday that it will seek cash from cable television systems for the right to carry its broadcast signals, setting up a high-stakes battle between the broadcasting and cable companies.

ABC joins CBS and NBC in announcing it will opt for "retransmission consent" under the federal Cable Act of 1992 for its network-owned affiliates.

Interactive TV test in Calif.

Cable TV customers in a San Francisco suburb will soon be able to use their televisions to order up their favorite movies, play video games or go shopping.

The new interactive services for Castro Valley, Calif., are part of an 18-month test announced yesterday by AT&T and Viacom International Inc.

AmTote reorganizes 3 departments

AmTote International Inc. yesterday announced organizational changes it is making in the wake of its acquisition by GTECH Corp.

Hunt Valley-based AmTote, which makes bet processing equipment for horse tracks and other gambling establishments, said it has restructured departments for customer relations, sales and product marketing, which will do market research for new products.

General Dynamics dividend $18

General Dynamics Corp. said it will give back more cash to shareholders from its recent divestitures when it distributes an $18-a-share dividend in July.

The dividend, payable July 12 to shareholders of record June 21, will be the defense contractor's second large dividend in less than three months. In April, it paid a $20-a-share dividend.

Laurel Bancorp dividend 100%

Laurel Bancorp Inc., the parent of Laurel Federal Savings Bank, announced yesterday a 100 percent stock dividend will be paid July 15 to shareholders of record on June 30. Shareholders will receive an additional share for each share owned. The company said it has applied to list its stock on the Nasdaq system.

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