EC to discuss union's futureThe European Commission will...

BUSINESS DIGEST

August 06, 1993

EC to discuss union's future

The European Commission will meet today to discuss ways to keep economic and monetary cooperation alive following the virtual collapse of Europe's exchange rate system.

In a special session, the European Community's executive body will also consider how to get the 12-nation grouping moving toward a single currency and central bank, cornerstones of the Maastricht Treaty on closer economic and political union, the EC said yesterday.

U.S., Canada settle trade dispute

The United States and Canada settled a 5-year-old trade dispute yesterday that had threatened to result in sharply higher prices for imported Canadian beer.

U.S. Trade Representative Mickey Kantor and Canadian Trade Minister Thomas Hockin struck the deal during a recess from their continuing negotiations on labor and environmental issues linked to the North American Free Trade Agreement. The talks, ** which also include Mexican Trade Minister Jaime Serra Puche, are scheduled to continue today.

Integrated shares up 11 percent

Shares of Integrated Health Services Inc. rose 11 percent yesterday after an analyst said concerns about the company were overblown.

The company's shares jumped $2.50, to $23.75, on Nasdaq volume of 598,500 shares, triple the average volume over the past three months. The stock had fallen more than 20 percent since July 27 on concerns by some over the company's accounts receivable days outstanding and aggressive booking of Medicare billing. The company, based in Hunt Valley, is a leader in providing subacute care in a nonhospital setting for about half the cost of the hospital.

Harbor Bank earnings surge

Baltimore-based Harbor Bank of Maryland reported a 6percent increase in second-quarter earnings yesterday.

The privately owned bank, which has $61 million in assets, earned $224,348 in the three months ended June 30, up from $139,114 a year earlier.

Ford to test aluminum-based cars

Ford Motor Co. said it will build 20 aluminum-based Mercury Sables to be tested around the world.

Research from Ford's internal fleet of aluminum Sables and the new group that will be sent to Alaska, Arizona, Germany and Japan, among other destinations, will help Ford decide if it can afford to mass-produce a car in aluminum, the company said yesterday.

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