Salomon to Cut Back Philipp Bros. Unit:...
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From Times Staff and Wire Reports
Salomon to Cut Back Philipp Bros. Unit: The parent of the Wall Street house Salomon Bros. said it will scale down the commodities trading operation of its Philipp Bros. unit, citing “prolonged difficult market conditions and trading losses.” A spokeswoman could not provide information on whether the reduction would involve job losses or provide other details.
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