THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Tuesday, September 24, 1996 TAG: 9609240279
SECTION: BUSINESS PAGE: D2 EDITION: FINAL
LENGTH: 25 lines
The federal deficit totaled $144 billion during the first 11 months of fiscal 1996 and probably will be the smallest annual imbalance in seven years. The deficit probably will end the year less than $144 billion, the Treasury Department said.
Federal agents are scrutinizing Citibank's handling of more than $100 million for the brother of Mexico's former president, it was reported Monday. If federal investigators find Citibank disregarded warnings about Raul Salinas de Gortari, brother of former Mexican President Carlos Salinas de Gortari, and find proof he got his money illegally, the bank could face money-laundering charges.
Other news: Department store operator Proffitt's Inc. said it received approval from Parisian Inc.'s debt holders to proceed with its $450 million acquisition of Parisian. . . . Ultramar Corp. said it will buy Diamond Shamrock Inc., giving the two a commanding share of the retail gas market in the U.S. Southwest.
From wire reports by CNB