avx was listed on s and ps creditwatch with negative implications on december 17 1986 because of the proposed acquisition
along with beef the us will also press japan to eliminate import quotas on fresh oranges and orange juice by april 1988
hrs ihirf reducing stake in hal roach hrsi 
cuba was reported to be carrying 13 mln tonnes of stocks in september 1985 of which some 440000 tonnes were used to boost its 1985 86 exports to about 69 mln
it said negotiations are expected to resume at the end of this month
the improved trade terms were offered after argentina said that spain and portugals entry into the ec affected their exports of cereals substitutes to these two countries
that is 87 basis points more than the yield of comparable treasury securities
ecuador squeezed by a slide last year in prices for crude its main export suspended payments to private foreign banks in january
dayton hudson corp in a letter to employees said it told an aggressive buyer of the companys stock that it does not want to be acquired
icco members accept buffer stock principles
pta sources said the agreement averted a split between members wanting more progress towards free trade and weaker states concerned about the effects on customs revenue
no rain was recorded in corrientes chaco and formosa
so far the banks have been mindful of the importance of preserving the entrepreneurial aspect of sharebroking he said
the brazilian coffee institute ibc confirmed having closed may export registrations effective april 6
the cattle are being fed the residue left after cleaning the cane stalks
the bundesbank should take further steps to reduce german interest rates to protect the mark from further appreciation and to persuade investors to bring long term yields lower commerzbank ag cbkgf management board chairman walter seipp said
according to kleinworts sources saudi arabia has already held separate talks with iran and iraq and is urging iraq to be more moderate
the company said the agreement calls for the holders of common stock in hal roach to exchange their shares on a one for one basis for shares in the combined company
the indonesia spokesman an agriculture ministry official who wished not to be identified said indonesia had no problem with quality and would continue to expand sales
moodys may downgrade caesars caw and unit
advanced institutional aims cuts workforce
price details were unclear but reports this morning suggested that turkey was offered sugar at prices ranging down to 212 dlrs a tonne c and f basis
hyponex corp is raising 150 mln dlrs through an offering of senior subordinated debentures due 1999 yielding 11828 pct said sole underwriter drexel burnham lambert inc
the unexpected order raises significant doubts about the quality of duquesnes regulatory support and financial prospects
finance minister kiichi miyazawa said the time has come for major industrialised nations to take action on exchange rates in line with their agreement last month in paris
at the time it said it was reviewing its alternatives
corrected elder beerman stores corp eldr 4th qtr
american motors corp said its auditors qualified the companys 1986 financial report
on a year on year basis m2 rose 1625 pct in the 12 months to december 1204 pct to november and 16 pct to december 1985
separately the federal home loan bank board said victor federal savings and loan association of muskogee okla was placed into receivership
some grain trade representatives say a four mln tonne wheat subsidy offer might help stimulate more soviet purchases of us corn and open the door to us sales of soybeans
six flags might sell for as much as 300 mln dlrs analysts said
in addition to issuing euro notes leucdia may also draw under the ruf by use of a so called swing line which provides same day availability of funds of up to 25 mln dlrs
falcon cable fal sets initial distribution
annual div 11 cts vs 10 cts prior pay april 24 record march 31
the survey said the trade deficit was expected to fall to 24 billion dlrs from three billion dlrs in 1985 86 because of the boost in exports
the liberian motor bulk carrier trave ore 106490 dwt loaded with ore and the 2852 dwt west german motor vessel christa collided late last night on the river elbe near buoy 129 lloyds shipping intelligence said
cigna corp said it has fixed april 24 as the date for the previously announced redemption of its 998 mln dlrs of outstanding eight pct subordinated exchangeable debentures due december 1 2007 at 105867 pct of par plus accrued interest
the debentures had an 8 5 8 pct coupon and were priced at 98675 to yield 8 3 4 pct or 115 basis points over the off the run 9 1 4 pct treasury bonds of 2016
the company said the dividend is payable march 31 to holders of record march 17
us exporters will be able to sell 8000 head of dairy cattle to indonesia and 5000 head to turkey under the export enhancement program the us agriculture department said
westcorp wcrp unit sells car loan backed bonds
the selling concession is 1 1 2 pct while management and underwriting combined pays 3 4 pct
the british banks are planning to fight the proposals as their implementation could prove extremely costly not just in terms of compliance but in limiting future business
they said the domestic beef intervention price influences imported beef selling prices on the domestic market
william reynolds chairman and chief executive of gencorp inc told shareholders he expects to announce a company alternative to a 100 dlr per share hostile tender within a week
the british treasury confirmed that the sale of british petroleum co plc will go ahead as planned despite mondays stock market crash which forced bp below the 330p a share set for the 72 billion stg issue
the governments unwillingness to allow the deduction of unsuccessful exploration expenditure within the whole offshore area in which rrt applies negates any claim that the tax is profit based the apea council said
belgium cuts discount rate to 80 pct from 850 official
overseas union bank ltd is one of the five primary dealers approved to underwrite the auctions and ensure liquidity
housing starts in february included a seasonally adjusted 56 pct rise in single family units to 1317000 units and a 41 pct fall in multi family homes to 534000 units
the company said it is also negotiating with its lenders to extend the reduced net worth terms beyond may 15
taunton savings bank tsbk sets first dividend
thus a saving of prt of 100 when field development starts will have to be matched by a rise in prt of 135 at a later time
ferry disaster may rank among worst tragedies
under review are ecolabs a 3 convertible subordinated debentures and the convertible eurodebt of its unit el international ltd
for computer associates the merger with uccel caps a six year acquisition campaign that has vaulted the garden city ny based company to the top of the software industry
dominion resources inc d 3rd qtr net
george wimpey says benefits of restructuring seen
they said ali ibrahim rubaishi head of organisation planning in petromin would take over as acting governor
us lenders mostly savings and loan associations were earning rates as low as three pct on 30 year fixed rate mortgages they held in their portfolios but had to pay depositors rates as high as 15 pct to induce them to retain their accounts
poehl says rate rises are cause for concern
period ended april 30 shr 71 cts vs 42 cts shr diluted 62 cts vs 38 cts net 2629704 vs 1721384 revs 395 mln vs 320 mln
the annualized growth rate accelerated to 32 pct in october december from 30 pct in july september
coordinated punishing intervention by the central banks in contrast to the recent rolling intervention which has only smoothed out the market is in the offing according to horner
avx corp said it filed with the securities and exchange commission a registration statement covering a 75 mln dlr issue of convertible subordinated debentures
qtly div 25 cts vs 20 cts prior pay april 21 reord march 27
the sale of the units is part of the banks worldwide restructuring plan
petrosurance specializes in property and casualty insurance for the oil industry
ratings under review include the companys first mortgage bonds and secured pollution control revenue bonds currently aa 3
the house of representatives approved a bill to enable 1987 winter wheat and feedgrains farmers hit by midwestern flooding last year to receive at least 92 pct of their federal income support payments even if they did not plant
earlier it reported a loss from operations of 22 mln dlrs or 471 dlrs a share on revenues of 1146 mln dlrs for 1986
the sources said the buyers are believed to be a group of institutions
the dealers said the speculation appeared to originate in japan
harcourts special dividend pays 40 dlrs per share in cash plus a security worth 10 dlrs
there were signs of reawakened investor nerves affecting trade in the floating rate note market which yesterday started the week extremely quietly after a hectic sell off last week
redstone also said viacom is committed to working very closely with us to obtain approvals viacom has been seeking approvals for transfer of its broadcast licenses and cable systems since september when its management group first advanced a buyout plan
in a separate letter sent to senior us officials miti vice minister for international affairs makoto kuroda suggested the two countries could conduct a joint investigation into allegations of japanese chip dumping in such markets
we have to reduce the transfer of resources brodersohn said adding that mounting economic strains in latin america make this a matter of urgency
1986 net both periods includes 500000 dlr pretax inventory writedown
shr primary 29 cts vs 26 cts shr diluted 27 cts vs 23 cts net 1500000 vs 1008000 revs 30 mln vs 231 mln avg shrs pimary 5254000 vs 3821000
the low world prices of recent years have led many countries in the region to cut exportable production to levels where they barely cover us and in the case of some caribbean countries european community ec import quotas for which they receive prices well above free market levels
shr 80 cts vs 70 cts shr diluted 76 cts vs 67 cts qtly div 33 cts vs 33 cts prior net 7879000 vs 7007000 nine mths shr 233 dlrs vs 201 dlrs shr diluted 222 dlrs vs 192 dlrs net 230 mln vs 200 mln avg shrs 9890148 vs 100 mln note dividend pay dec 10 record nov 20
holland added that sprint was still paying almost 500 mln dlrs a year to american telephone and telegraph co t in order to lease its lines
boeing co to acquire argosystems for 37 dlrs a share
citicorp took over vickers de costa ltd and chase bought laurie milbank and co bankers did not know if all the banks would get licenses but said jp morgan probably would as it was first to ask
kuwait is better placed than any other opec country to ride out the oil glut bankers and economists say
the june trade figures due in late july will also be delayed he added
if the spot price of dubai goes above 1730 dlrs we would probably buy iranian crude at the official price one japanese refiner said
a new international natural rubber agreement inra will be formally adopted tomorrow chairman of the negotiating conference manaspas xuto of thailand said
tenneco tgt buys unisys uis unit
intelligent systems master limited partnership said it will make a cash distribution of 25 cts a unit in early april to unitholders of record as of march 31
freight costs are higher for cargoes coming from the gulf than southeast asia due to a longer haul and war risk insurance payments japanese customers will visit saudi arabia this month to finalise their separate contract talks now focusing on contractual period and volume which could be very similar to current levels the sources said
the issue price of the warrants has been fixed at 30 guilders each
eia says distillate gas stocks off in week
hong kong banks raise prime one half point to 65 pct
six month deposits also firmed to 7 1 8 seven pct from 7 1 16 6 7 8 on sunday
shr 87 cts vs 84 cts net 4186 mln vs 3992 mln revs 312 billion vs 289 billion nine mths shr 261 dlrs vs 262 dlrs net 125 billion vs 123 billion revs 910 billion vs 862 billion avg shrs 4814 mln vs 4736 mln note share adjusted for three for two stock split in february 1987
trade and commission house forecasts ranged from 102 to 109 mln acres
year on year m 2a increased by a provisional 84 pct in january compared with a downwards revised and provisional 81 pct in december
a total of 5000 dlrs for work in encouraging mcdonalds to expand its mcrib sandwich to japan and singapore was also awarded to the meat export federation
gus makes 82 mln stg agreed offer for pantherella
magellan petroleum corp mpet 3rd qtr jan 31
first oak brook fobbao 3rd qtr net
the acquisition had been opposed by some depositors who filed an action to block the takeover
net for 1985 year includes loss from sale of securities of 315763 dlrs or eight cts a share
stgobain unit issues ecu bond with gold warrants
suralco offers cash for workers to leave
in explaining the pricing a salomon official noted that there has been very heavy demand for high coupon usagency mortgage issues such as fannie maes and that the rising price of the collateral must be passed along to investors
india is searching for non communist countertrade partners to help it cut its trade deficit and conserve foreign exchange
spartech corp sptn 1st qtr jan 31 net
adolfo hegewisch mexicos undersecretary for commerce confirmed that the swap program had been halted but he told a euromoney conference on debt equity swaps that mexico had been forced to act because it had been inundated with applications
company is 815 pct owned by electro audio dynamics ead
the company was wound up last year
the conversion price has been set at 1590 yen the same as todays close
eurofima of basle is launching 40 mln swiss francs of six year notes with a 4 3 8 pct coupon and 10025 issue price lead manager zurich cantonal bank said
it said the labor increase then will be 32 pct for abf freight system its largest unit
the refiners said the increase is needed because the quota is so restrictive there could be some spot shortages of sugar in the us later this year a refiner spokesman said
malaysia said it expects a natural rubber shortage in april and may because of the effects of current wintering on rubber trees
mitsubishi banks ny branch sets one billion dlr us medium term note program
inertia dynamics trim to pay stock dividend
group has 52 pct of distributed logic dlogo 
smoky river holdings is an alberta company controlled by michael henson former president and chief executive of mcintyre the company said
tesco forecasts profits rise this year
the other half of the loans were from first citys lead bank in houston
the dry weather has cut stored water volumes by over 20 pct compared with last march and lowered the water levels of many rivers it added
he said no date has been set for the meeting and declined to comment on published reports in the past few months that banks may demand accelerated repayments
july crude futures of west texas intermediate traded up to 1960 dlrs a barrel a rise of more than 20 cts
another proposal to allow regulators to grant commercial banks more flexibility in accounting for third world loans has been presented by senator bill bradley a new jersey democrat but did not come up yesterday
the make up of the holding company however is subject to close discussions within the government due to legal queries over the nationality of the mutual funds a finance ministry official said
today we still have lower interest rates than at the end of 1986 quite the contrary of other countries where interest rates have risen substantially more poehl said
avaq said gates corp and gates learjet approved its offer feb 26
us bancorp usbc 1st qtr net
he said he was pleased that chairman a
hungarys hard currency trade fell into a deficit of 5394 mln dlrs last year from a surplus of 2953 mln in 1985 and 12 billion in 1984
anacomp reported net of 28 mln dlrs or nine cts a share in its first qtr ended december 31 up from 301000 dlrs or one ct a share
the directors of the company called a special meeting and recommended its dissolution last month citing falling volume and increasing costs
no further details were available
stritch also said the companys annual revenues should exceed 60 mln dlrs up from 41 mln dlrs in the previous fiscal year
bear stearns and co inc signed a similar standstill agreement with bally for three years bally said
later industry sources said the division which had worldwide sales of some 160 mln dlrs last year was sold for just under 200 mln dlrs
chancellor of the exchequer nigel lawsons remarks yesterday suggesting there are precise exchange rate targets for the pound undermined sterling dashing hopes for an early cut in uk base rates analysts said
compared with the year earlier quarter gdp also rose 11 pct the bureau figures show
commercial credit ccc unit sells division
cascade said the agreement also includes the exclusive rights to trade through duty free channels worldwide the designer gres accessories
but mccarthy who still expects first quarter real gnp to come in at an annual rate of 25 pct or slightly above is not convinced that growth will pick up in future
union votes to strike dakota city ibp plant
the 10 year par priced bonds of 5000 francs face value carry two warrants a and b each of which entitle holders to acquire one certificate of 100 francs nominal value
the australian government is awaiting the outcome of trade talks between the us and japan with interest and concern industry minister john button said in canberra last friday
we are making efforts to eliminate them with the help of balanced interest from all parties he said
also an earthquake in ecuador yesterday led it to suspend oil exports indefintiely and force majeure its shipments
david durenberger r minn offered the corn amendment which urges the administration to file a complaint with the gatt if the us believes the corn decision by canada was unjustified
somerset bancorp inc sombo 3rd qtr net
last year the soviet union produced 615 mln tonnes of oil slightly short of the target of 6167 mln
lower tax offsets lower shell uk upstream profit
it also said it will begin an immediate cost reduction program to cust annual operating expenses by 50 mln dlrs
cominco cltto sees meeting with striking union locals
us money managers and investment advisors said they expect stocks to continue to outperform bonds but some are hedging bets by keeping roughly half of portfolios in bonds and cash for quick investment shifts
pakistan will retender for 6000 tonnes of refined bleached deodorised palm oil for second half march shipment tomorrow after failing to take up offers today palm oil traders said
pan ams pn main unit to report smaller loss
in the merger lanes stockholders will receive 15 shares of interco common stock for each outstanding share of lane common stock interco said
canada 91 day t bills average 729 pct making bank rate 754 pct
the company said the stock was acquired through recent open market purchases and the stake does not require specific disclosure
the company said a newly incorporated merchant banking subsidiary of greyvest financial corp has agreed to purchase the debenture issue and closing is expected in april
an overwhelming majority of the approximately 2500 members attending the meeting then voted to go on strike ufcw union spokesman allen zack said
but newfoundland premier brian peckford said an agreement was more likely to emerge by consensus and there would be no need for a hard and fast formula peckford said it appears canada is prepared to make concessions to the united states on financial services in order to make inroads on other bargaining areas such as agriculture
vernitron corp said it has set a new record date for shareholders entitled to vote on the proposed merger of vernitron corp with sb holding corp for july 10
texaco canada said it lowered the contract price it will pay for crude oil 64 canadian cts a barrel effective today
its other big activity aircraft component manufacture has performed so well that mhi now accounts for half of the money tokyo spends on defence procurement each year
gross currency reserves in the week rose by 200 mln marks to 1095 billion
reed international plc reedl said it had no comment to make on uk stock market rumors that harcourt brace jovanovich inc hbj may make a bid for the company in order to escape unwelcome offers from robert maxwells british printing and communication corp bpcll a spokeswoman for reed said earlier analysts forecasts that a bid for reed will have to be about 700 mln stg were totally unrealistic adding that its current market is about 27 billion stg
for the nine months davis said earnings per share would convert to 77 cts and 44 cts for fiscal 1987 and 1986 respectively from 58 cts and 33 cts respectively
travelers tic unit to buy realty divisions
in a speech to shareholders leutwiler said a gradually rising rate for the mark in relation to the franc would be desirable from the standpoint of industrial exports and with regard to sustaining swiss industry simply an appropriate declaration of intent by our bank of issue swiss national bank could have a positive effect he said
new market emerges in warrants for gold
it said holders of the contingent payment units will be entitled to receive annual payments to the extent that the predepreciation gross profits of triangle microwave in each of the years 1987 through 1991 exceed threshholds ranging from eight mln dlrs in 1987 to 14 mln dlrs in 1991
chicago mercantile exchange floor traders immediate reaction to the cold storage report for pork bellies was neutral to slightly negative
ferruzzi may float up to 49 pct of paris unit
there were only trace amounts of platinum and palladium the company said
manufacturers hanover did not name an underwriter for the offering
the meeting was originally convened on june four when shareholders approved the sale of becors western gear corp subsidiary before adjourning
on friday cyacq corp an investor group led by audio video affiliates and citicorp raised their offer for cyclops to 9250 dlrs per share from 80 dlrs per share if certain conditions were satisfied
another 250 mln dlrs will be needed to repay certain debt of borg warner merrill lynch said
mulford says germany japan should do more
there is widespread agreement internationally that we have no alternative to floating currencies in the short to medium term
industrial equity pacific ltd a hong kong investment firm said it raised its stake in wrather corp to 816000 shares or 113 pct of the total outstanding common stock from 453300 shares or 63 pct
the iranian steam tanker avaj 316379 tonnes dw was attacked and hit at 1715 hours on march 21 lloyds shipping intelligence service reported
restaurant management services resm in payout
angeles corp ang is general partner of energy development
the esso proposal to purchase all the delhi interest will be more beneficial to our shareholders than proceeding with the float csr chief executive bryan kelman said in the statement
there are measures which are under consideration if we continue to suffer from the imbalance in our trading relations he added but gave no details
the treasury said it had closed the offer early in view of the markets response and having taken into account the estimated state borrowing requirement for the current month
syngold defines reserves on deka property
fleet flt shareholders approve share increase
it also said it will pay a six cts per share dividend on the pre split shares a regular quarterly dividend on april two to shareholders of record march 13
it said it was obliged to produce the feasibility study no later than december 31 this year by which time it would have spent three mln dlrs on big bell
he told journalists the exact decline would depend on dollar developments
uspci upc seen rejecting union pacific bid
while the two pct gdp growth forecast set by the cpb is within its latest forecast issued last month of 15 to two pct growth the figure is well above recent market estimates
cash flow was strong and the gross debt to equity ratio dropped to 41 pct from 51 pct
commerce minister suleiman abdulaziz al salim told saudi businessmen this week the government had carefully considered the need to stimulate the economy when drawing up its budget plans late last year
he pointed to a fall in the year on year growth rate of the m3 broad money aggregate to 195 pct in september from augusts 22 pct
the bank of japan intervened in tokyo to buy dollars just after the market opened dealers said
the european community may decide to increase the cereals co responsibility levy and extend its scope to cover cereal substitutes if the commissions 1987 88 farm price package is opposed by member states edgar pye vice president of the british agricultural merchants association ukasta said
house trade bill drafting postponed
consumption in venezuelas internal market increased from 323000 bpd in 1985 to 342000 bpd last year
emery air freight corp said it plans to begin tomorrow a 40 dlr a share tender offer for 83 pct of the outstanding common stock of purolator courier corp
the bid would not have been successful but for the services of mr ward mac attorneys said in the documents submitted in court
shr 78 cts vs 51 cts net 725000 vs 451000 assets 985 mln vs 859 mln loans 405 mln vs 288 mln deposits 904 mln vs 787 mln
shr three cts vs seven cts net 521 mln vs 112713 revs 51 mln vs 44 mln six months shr five cts vs 15 cts net 75605 vs 244119 revs 95 mln vs 95 mln
on february 22 the united states japan west germany france britain and canada agreed that major currencies were within ranges broadly reflecting underlying economic conditions given commitments by washington to cut its budget deficit and by toyko and bonn to boost economic growth
david jones owned 492 pct by adsteam earned the largest associates net of 5738 mln dlrs in the half against 4029 mln a year earlier adsteams figures show
the airlines said it sees the service as an option for business travellers
the agreement would be calculated on the basis of perelmans previous holding of 184 mln shares adjusted for a split
the dividend is designed to deter national computer or other potential suitors from preventing datacard from evaluating all alternatives to maximize shareholder value datacard said
the bond issued at 9830 pct will have interest based on the annualised money market rate tam with the first coupon paid on april 6
sumitomo metal industries ltd has set up two finance firms one in osaka and one in london a company spokesman said
and we will have to see if the united states is able to do what they promised in paris on reducing the budget deficit and get it through congress he added
it had been under growing us pressure to cut its 1986 record 136 billion dlr trade surplus with the us taiwans 1985 surplus with the us was 102 billion according to official statistics
papua new guinea png provides the most exciting new prospect in the asia pacific region for oil production energy analyst fereidun fesharaki said here
commerzbank sees lower operating profit this year
squibb will sell the drugs only in japan and other markets but not in north american and western europe
the final decision will be left with the biffex board which will meet at the end of this month he said
banctexas group inc btx 3rd qtr oper loss
the embassys annual report on indonesian agriculture forecast coffee output in 1986 87 would be 577 mln bags of 60 kilograms each
dickey and three dixons executives vice chairman and financial director egon von greyerz corporate finance director gerald mn corbett and secretary jeoffrey budd
extraordinary debit 50 mln vs nil
comalcos commonwealth aluminium corp unit said earlier it has conditionally agreed to sell its goldendale smelter in washington and port facilities at portland oregon to columbia aluminium corp
levy predicts gnp will grow at a scant 15 pct rate in the first quarter of 1987 accelerate during the second quarter and show a brisk 45 pct annual rate in the third quarter
rocky mount undergarment rmuc 4th qtr loss
colonial bancgroup said it has signed letter of intent to acquire community bank and trust of hartselle ala with assets of 26 mln dlrs for undisclosed terms subject to approval by regulatory authorities and community bank shareholders
producers meanwhile say non member cocoa should make up at most a very small percentage of the buffer
bci holdings corp said its beatrice us food corp retained shearson lehman brothers inc to assist in the sale of its national bottled water business
syngold has earned a 20 pct interest in the deka property from the operator corp falconbridge copper
assistant general manager wang hongshan said the groups outstanding loans at end 1986 totalled 620 mln hong kong dlrs up from 530 mln at end 1985
the agreement last week with the paris club of western creditors rescheduling over 10 years 900 mln dlrs worth of official debt due by mid 1988 together with an accord late last year to reschedule 18 billion dlrs of commercial bank debt had already encouraged donors to increase aid he added
first toronto capital corp said it planned to issue a five mln dlr convertible debenture to its dutch parent arcalex bv which if fully converted would raise arcalexs stake in first toronto to 62 pct from 54 pct
antar the reclusive founder of the chain in the new york city philadelphia and connecticut areas said last month that his group controlled 14 percent of crazy eddies shares
the fomc issued an asymmetric inter meeting policy directive which gave greater possibility to firmer rather than easier policy
employment should rise by 01 pct a year over the next two years while the state budget deficit should be cut to 22 pct of gdp in 1988 from 26 pct this year and 29 pct in 1986
the february monthly merchandise trade figures to be reported tuesday by the commerce department will be on a new basis reflecting more recent data so avoiding future revisions of the monthly figure commerce officials said
they will continue to stand pat for at least the next couple of months
normally investors do not make a major capital commitment into an illiquid situation he said of nippon
he said price would help determine if the bank formed its own securities unit or acquired an existing investment dealer adding that asking prices for some dealers seem fairly high asked about plans for wholly owned harris bankcorp inc of chicago reuber said harris might consider acquiring more small community banks around chicago
shr 13 cts vs 12 cts net 1612000 vs 1571000 revs 288 mln vs 250 mln avg shrs 128 mln vs 133 mln
the bangkok shipowners and agents association has appealed to the government to scrap the purchase plan
violators would be severely punished according to the price freeze order signed by five cabinet ministers
john lafalce d ny who said it would help ease the third world debt crisis
share results after deducting preferred share dividends of one mln pounds sterling in 1986
oper shr loss 251 dlrs vs profit 94 cts oper net loss 272 mln vs profit 103 mln revs 4642 mln vs 5046 mln nine mths oper shr loss 133 dlrs vs profit 257 dlrs oper net loss 144 mln vs profit 282 mln revs 141 billion vs 155 billion note 1987 qtr and nine mths excludes loss 411 mln dlrs or 379 dlrs per share and loss 418 mln dlrs or 387 dlrs per share respectively from discontinued real estate operations
union pacific raises crude oil postings 50 cts a bbl effective yesterday wti to 19 dlrs
the sullivan mine at kimberley produced 22 mln long tons of ore in 1986 most for processing at the trail smelter
but a pension payment date by banks on behalf of customers was due on monday other dealers noted
belgian unemployment falls in march
the company said if it is approved the sale will mark its second move to acquire a florida bank
a preliminary injunction would hold up samjens 247 billion dlr offer until the case is decided
to finance the deal merrill lynch said it expects to borrow 35 billion dlrs from a group of banks and sell 100 mln dlrs of common stock of the new company sell 100 mln dlrs of non voting preferred stock of the new company to merrill lynch and co sell up to 650 mln dlrs of subordinated notes to merrill lynch and co and sell to the public 204 mln dlrs of subordinated discount debentures
the british conservative government will on thursday consider what legal options are available to it to try to increase uk access to japanese markets officials said
the facilities will be established to serve japanese and domestic automobile and appliance parts manufactures in the us the company said
melnikov noted that he has seen no indications from soviet government officials that they would be pushing for a renewal of the agreement
portugals consumer prices rose 14 pct in march after a one pct increase in february and a 12 pct rise in march 1986 the national statistics institute said
for the six months following july 1 1986 when the venture officially started production highland valley had total ore milled of 226 mln short tons grading an average of 041 pct copper townson said
brennan said he could not comment on the impact of brazils interest payment moratorium on the royal bank of canada
the us agriculture department gave a preliminary breakdown of grain in the farmer owned grain reserve as of april 1 with comparisons based on telephone reports from farmers filed with the departments kansas city field office in mln bushels april 1 previous wheat 6576 6597 corn 14065 13970 sorghum 958 955 barley 1221 1220 oats 37 37
the basic stance of the japanese government is to tackle the issues with all available resources the united states has accused japan of reneging on an agreement that called on it to stop selling cut price computer microchips in world markets and to try to import more american semiconductors
elevator loading waiting continental grain westwego 1 5 mississippi river myrtle grove 1 0 adm growmark 1 2 bunge grain destrehan 1 0 elevator loading waiting st charles destrehan 1 1 reserve elevator corp 1 0 peavey co st elmo 1 1 cargill grain terre haute 1 4 cargill grain port allen 0 0 zen noh 1 3
hughes supply inc said it has signed a letter of intent to acquire most of the assets of tri state supply inc a wholesale distributor of electrinical fixtures and supplies with sales for the year ending tomorrow of about 13 mln dlrs
they expressed some hope that the operators would not eventually go through with their plan for intervention sales
fees comprise 1 3 8 selling concession and 5 8 pct management and underwriting combined
continuous rebel raids against oil pipelines and foreign exploration camps endanger colombias present oil bonanza franciso chona manager of the state run oil company ecopetrol said
in february and march nigerias production shrank below its 1238 mln bpd opec quota
in what was the first prime rate boost since mid 1984 most banks in early april lifted their rates a quarter point to 7 3 4 pct citing a reduced gap between the prime and their own cost of money
a european monetary official said the ministers of the group of seven countries would gather at about three pm local 1900 gmt at the treasury
without the usda program it would not have been possible
shr profit one ct vs loss four cts net profit 53040 vs loss 255568 rev 2252246 vs 755605 six months shr profit three cts vs loss eight cts net profit 217884 vs loss 517538 rev 49 mln vs 16 mln note companys full name is chemfix technologies inc
malaysia has asked japan for a 42 billion yen 25 year loan to finance the construction of gas pipelines from eastern trengganu to southern johor the overseas economic cooperation fund oecf said
shr one cent vs nine cts net 51057 vs 554878 sales 245 mln vs 213 mln first half shr 15 cts vs five cts net 1026479 vs 313676 sales 484 mln vs 374 mln note net includes gains of 28000 dlrs or one cent a share vs 61000 dlrs or seven cts a share in quarter and 453000 dlrs or seven cts a share vs 61000 dlrs or one cent a share in half from tax loss carryforward
equity shares the 14 pct non convertible debentures and 125 to 14 pct convertible debentures issued by private companies are not exempted from either the wealth tax or from the tax on income earned from them
however he said he wanted to see a gradual approach to declines in domestic uk interest rates although optimism in financial markets might push for big moves quickly
vlsi vlsi plans debt offering
local brokers have requested the head of the syndicate now fuji bank ltd to increase their share to 307 pct but banks oppose any cut in their 74 pct share bankers said
merrill said it was disappointed by moodys conclusion
qtly div 15 cts vs 15 cts prior pay may 11 record march 31
carney said there was a lot of political will among the ministers here to complete the uruguay round of gatt in under four years and that there is also a realisation that it has to be done in a balanced way
all sales under the line must be registered and exports completed by september 30 1987 the department said
demand totalled 1845 billion francs at prices between 9470 and 9710 pct
the balanced budget in 1986 totalled 138005 billion won
the company also said it plans to increase the size of its rental fleet in the year ending january 31 by 20 to 25 pct and expand its rental office network
as part of the paris accord surplus countries such as japan agreed to stimulate their economies while america said it would reduce its federal budget deficit
the internal revenue service estimates about 100 mln individual income tax returns will be filed for the 1987 tax season up from last years 94 mln forms
venezuela was the leading buyer it said
oper shr 96 cts vs 79 cts oper net 437 mln vs 364 mln sales 148 billion vs 115 billion note 1987 sales includes operations of sperry aerospace
extraordinary items included a 53 mln dlr profit on the sale of properties and investments less a 28 mln provision for reorganising the big w chain
deutsche bank finance nv curacao became the first of three issuers in the australian dollar market during the morning with a 100 mln dlr bond due 1990 paying 14 1 8 pct and priced at 100 1 4 pct
supermarkets also said it retained shearson lehman brothers inc to advise its board of directors on the proposal
the bell group ltd bllas said it now holds 149 pct of the issued capital of standard chartered plc stchl after acquiring further shares
warren lavorel a us trade official defended the policies saying they did not violate gatt trade rules
the lisbon court ruling stated that epacs participation in the public tenders was unfair competition and violated the clauses of portugals ec accession treaty dealing with the gradual dismantling of the state agencys import monopoly
hei corp heico 4th qtr march 31 loss
until the end of last week the central was holding out staunchly against market pressures for lower rates in an apparent effort to preserve the expected rate cuts for around the time of the governments annual budget on march 17
it said the offer will result in the issue of 575 mln common shares 2885 mln dlrs principle of variable rate subordinated debentures and 138 mln shares of convertible preferred stock
cannon can sells stake in hbo cannon venture
under the canadian proposal all countries would have to ensure that domestic policies and programs to address the specific needs of their farm sectors do not distort trade a government background paper said
investments were reduced to 108 mln marks from 125 mln
bernstein co inc said
it will be open for signature at the un headquarters in new york from may 1 to december 31 this year and will enter into force provisionally when ratified by countries accounting for 75 pct of world rubber exports and 75 pct of world imports
west german gnp growth in 1987 will be led by renewed advances in domestic consumption and investment spending both of which will in turn be buoyed by an expansionary monetary policy the institute said
the cattle are for delivery during march june 1987 it said
gordex mineral ltd said geologists located more than one mln tons of gold bearing deposits 0057 ounces per ton at cape spencer
programmes had to be developed which would strengthen the economic position of these countries to ensure world economic growth so they are able to sell their products at adequate prices
data general corp said it expects to record an extraordinary pretax charge of about 182 mln dlrs in the second quarter ended march 28
french regional financing group societes de developpement regional is issuing a 141 billion franc domestic bond banque nationale de paris and banque indosuez said
adds dropped year of rights expiration
most operators overlooked intervention by the bank of japan to support the dollar against selling in favour of the yen by institutional investors and overseas operators dealers said
morgan all of dallas for warrants to acquire 101 mln shares of jm stock and three mln dlrs of notes
in a newspaper advertisement the firm said the opffer is not conditioned on receipt of any minimum number of shares but is conditioned on holders of nor more than 400000 symbion sharesseeking to receive the fair value of their shares under provisions of the utah business corporation act
for the first quarter the acquisition will have a negative impact of about 20 cts per share chief financial officer thayer bigelow told security analysts
nl industries inc nl 4th qtr dec 31 loss
sanwa bank looks to securities world operations
earlier this week chemlawn agreed to accept a merger proposal at 3650 dlrs a share from ecolab inc in a transaction valued at about 370 mln dlrs
the recent remark by us treasury secretary james baker that the paris accord did not set any target ranges for major currencies has cast a shadow on the agreement said koji kidokoro general manager of mitsui bank ltds treasury division
but he added there is no bond market to speak of in saudi arabia qatar oman or the uae with the last saudi riyal denominated bond issued in 1978
stoltenberg said initial contacts with several european counterparts showed that they shared this view
german chemical industry sees lower profits
shr 28 cts vs 31 cts net 8117095 vs 8954904 sales 1467 mln vs 1330 mln avg shares 290 mln vs 289 mln first half shr 48 cts vs 53 cts net 138 mln vs 152 mln sales 2730 mln vs 2421 mln avg shrs 290 mln vs 289 mln
we have yet to finalize details on how the compensation will be carried out and how opec production quotas will be affected he said during the signing of a joint venture deal with union pacific corp today
uk money market shortage forecast revised up
turnover was up to 129 billion stg from 12 billion
china has switched purchases of us wheat totaling 60000 tonnes from the 1986 87 season which began june 1 to 1987 88 season delivery the us agriculture department said
even interest rates are not in the centre of the bundesbanks considerations but reflect competition and other market conditions mueller said
private foreign banks and the world bank had calculated oil would have to be at least 25 dlrs a barrel for quito to be able to meet its commitments febres cordero said
royal insurance issues 300 mln mark eurobond
cumulative shipments for the first five months of the october september wheat year were 612 mln tonnes as against 654 mln a year earlier the official said
furthermore as the ground surface thawed some standing water occurred in the fields
gold is expected to continue its rise this year due to renewed inflationary pressures especially in the us hamburg based vereins und westbank ag said
in march private dealers will handle 2050 tonnes of pure coffee and enapal 6050 tonnes of mixtures
the total comprised 392845 bags in new york an increase of 261 bags and 192710 bags in new orleans a drop of 500 bags
privately held clayton and dubilier inc said it has sold w
mafina bv of voorburg a subsidiary of petrofina sa petbbr is issuing a minimum 200 mln franc seven year bond with warrants paying two pct lead manager credit suisse said
twa said the merger is subject to the usair board redeeming the preferred stock purchase rights the poison pill issued to shareholders last year and taking action so that the vote of a majority of the outstanding common stock is required to approve its proposed move
but brazilian central bank governor gros said if the banks are now volunteering to take that step they might be more willing to discuss new ideas for debt relief
imports in september amounted to 12 billion dlrs against 132 billion dlrs in august
he is a member of the united states iraq business forum a non profit group designed to promote commerce with iraq
canadian imperial bank of commerce 1st qtr share basic 61 cts vs 64 cts
weatherford intl wii gets debt agreement
certainly it would be more difficult to maintain exchange rate stability if countries are seen not to implement their commitments in paris in this respect he said the us budget deficit was very important noting the 6000 billion yen economic package announced by japanese prime minister yasuhiro nakasone last week lawson said what is really needed in japan is an increase in merchandise imports
the sale will complete the planned disposition by american barrick of all its non gold assets it said
in 1986 the company earned 102 billion dlrs or 1026 dlrs a share compared with 9962 mln dlrs or 10 dlrs a share in 1985
ongpin said that by funding current interest payments in the secondary market through the pins scheme the philippines could conserve at least one to 15 billion dlrs of foreign exchange reserves during its planned seven year restructuring period
you just dont send it abroad
the company said the sales proceeds will be partly used to reduce debt
uk money market given further 104 mln stg help
fed says it sets 15 billion dlrs of customer repurchase agreements
the bill passed 305 102 winning a necessary two thirds of those voting despite a last minute revolt by an alliance of liberal democrats and conservative republicans who sought to defeat it as a signal that a growing number of legislators oppose president reagans policies in the region
the company said it will continue to operate 12 warehouses in illinois indiana michigan ohio and pennsylvania
a north sea oil find announced by chevron corps chv chevron exploration north sea ltd may indicate a new field with recoverable crude oil reserves of 300 mln barrels industry analysts said
the recent attempt by jacobs suchard ag jaczz to take over hero conserven lenzburg herzz had shown the limits of a 1961 pledge by the banks not to sell registered shares to someone who was not eligible according to the companys statutes
the group had said previously that its frost and sullivan share purchases were for investment
groups of banks by nationality have chosen to take a look at what other groups of banks in other countries are willing to do and if let us say british banks wind up giving 99 pct of what is needed and us banks give only 92 pct then the british banks say as a whole they will pull out he said
shamrock also said nawara has been elected president of dbms and one of its directors
the government is going to examine assets of this nature to ascertain if they continue to play an appropriate role in public policy and we will make a determination as we have in other cases mulroney told the daily question period
the issue is available in denominations of 20 and five mln yen and will be listed in luxembourg
net includes loan loss provision nil vs 40000 dlrs
india is to partially cover the cost of its malaysian palm oil imports through a countertrade deal involving the construction of two bridges valued at 20 mln dlrs an indian trade source told 
emery said it already has a commitment letter from its banks for up to 1299 mln dlrs for the stock purchases
cocoa producers european community ec consumers and all consumers separately reviewed technical details of a buffer stock rules package distributed yesterday
the statement said the sale did not represent any withdrawal from nordbankens undertakings towards the fermenta group and that it had been sanctioned by the other main shareholders
energas egaso to buy texas american tae unit
gros speaking to reporters yesterday after his first meeting with brazils bank advisory committee since he was appointed last month also promised a clear statement of brazils economic policy would be made in the next few days
the world bank said it approved a 25 mln dlr structural adjustment loan for mauritius to aid that countrys industrial sector
it requires brokers dealers and investment banks to register with it and comply with investor protection rules and it polices exchanges and regulates trading practices
nonetheless the dollars sharp fall has not undermined cooperation
daily turnover in the tokyo spot market ranges between one and 10 tonnes with the average around three tonnes while futures turnover amounts to about four tonnes gold dealers said
republican members of the house agriculture committee said they will propose amendments tomorrow to a pending trade bill increasing funding for the export enhancement program eep and significantly expanding the scope of the program
six months to march 31 shr 1625p vs 1561p div 40p vs 35p turnover 612 billion vs 489 billion interest 252 mln vs 376 mln pretax profit 427 mln vs 403 mln tax 103 mln vs 99 mln minorities 13 mln vs 439000 extraordinary items 26 mln credit vs 12 mln debit note company name is s and w berisford plc brfdl
tonights american petroleum institute weekly inventory report is expected to show moderate drawdowns in distillates and gasoline stocks for the week ended march 27 analysts and traders said
orders in hand for the five months were 167 pct higher at 864 billion marks
we are going to go on but at 16 18 dlrs there will be no massive upturn he said
consumer countries should not intervene in the distribution of coffee export quotas brazilian coffee institute president jorio dauster said
the most controversial issue an amendment to restrict imports if countries such as japan with large surpluses do not buy more us goods was left for an april vote by the house
total turnover topped four billion guilders after 35 billion in the previous active trading week
but he said that any response would be in accordance with international law and japans international obligations
henderson said the companys 1987 results would top 1986 income of 888 mln dlrs or 545 dlrs per adr on sales of 15 billion dlrs but he declined to specify by how much
looking to the longer term spar is confident that its continuing concentration on advanced robotics satellite based communications and electro optical defense systems will lead to significant growth in revenues and earnings over the next five years the company said
i think we are progressing very well the first battle will take place next week when the full house ways and means committee considers an amendment by rep
terms will be set this week with a conversion premium of 25 to 28 pct
a fall in customer savings because of lower rates could reduce cheap refinancing available to banks forcing them to draw down relatively expensive funds from other sources one economist at the german banking association said
m corp inc raises dividend
venezuelas new margin last month was only a 1 4 point drop from the rate agreed in a rescheduling accord in 1986 the bankers said
seven managers and employees at general mining union corp ltds kinross mines ltd will face charges of culpable homicide following last years disaster when 177 gold miners died the attorney generals office said
bankamerica bac puts brazil on non accrual
if the usda acts soon as many dealers expect the movement would break the gulf corn basis
to solve this problem and to streamline the cumbersome negotiating process argentina has revived the idea of exit bonds which would be issued at a discount to small creditors in exchange for their existing debt bankers said
japans custom cleared trade surplus narrowed to 161 billion dlrs in the first 10 days of june from 197 billion a year earlier the finance ministry said
american express said in a statement that the swap will be made via its international capital corp unit over two years
us economic data key to debt futures outlook
a senior finance ministry official said government and private firms were free to compete to raise resources adding it was not correct that public sector issued bonds were preventing private firms from raising money on the stock market
mas said in its latest monthly statistical bulletin the december increase was largely due to seasonal year end demand
new england critical care inc said it completed its purchase of npo therapies inc of salt lake city
the texas commerce chemical merger is the only acquisition by a major out of state bank since texas lawmakers approved interstate banking effective january 1
its not going to solve all of first citys problems but its a good transaction for them
taiwan tendering thursday for us corn
its a volatile stock that has to be caught on weakness polaroids stock which gained more than a point early this morning was trading at 76 1 8 up 5 8
the problem is nigeria has so far neglected us japanese creditors and we have yet to receive a clear cut picture of the nations debt situation said another japanese bank official
gencorp gy 1st qtr feb 28 net
some of the crop is far enough along so that its probably vulnerable krenzler said
the balance comprised 25000 tonnes of grains plus oilseeds and 45000 tonnes of derivatives
westport bancorp webato 3rd qtr net
allis chalmers said a bankruptcy filing appears to represent the companys only alternative if agreement upon the terms of the plan cannot be reached the spokesman said in response to an inquiry that he was not aware of any extraordinary charge against earnings that would result from the restructuring
agency officials said public spending would have risen 11 pct in oct dec without the issue which marked 60 years of emperor hirohitos reign
shr 199 dlrs vs 205 dlrs diluted shr 180 dlrs vs 175 dlrs net 500 mln vs 485 mln nine months shr 537 dlrs vs 569 dlrs diluted shr 487 dlrs vs 476 dlrs net 1346 mln vs 1296 mln
it gave no further details
asked if south korea would retaliate against us goods if congress closed us markets to its products he said at this moment we have no thought of retaliation south korea is a major exporter to the united states of textiles and apparel and electronic goods such as television sets video cassette records and personal computers
net chargeoffs 150 mln dlrs vs 142 mln dlrs
subscriptions to 300 mln guilders were met in full amounts above 300 mln at 50 pct
the iwcc release also said the lme had confirmed that no change would be made to the clearing system planned to start on may 29
dealers said there were widespread rumours that the us federal reserve telephoned some banks in new york to ask for quotes last wednesday and even intervened to sell the dollar when it rose to 187 marks
communications and cable inc said it acquired about 21 pct of the outstanding shares of imnet corp a privately owned company that designs makes and services proprietary image storage and retrieval systems
period ended march 31 oper shr profit four cts vs loss 17 cts oper net profit 584000 vs loss 2165000 revs 7493000 vs not given six mths oper shr profit eight cts vs loss 14 cts oper net profit 1177000 vs loss 1778000 revs 148 mln vs not given
schlang said chemlawns customer base could be valuable to another company that wants to capitalize on a strong residential and commercial distribution system
the chiefs of viacom international inc and national amusements inc said they met and agreed to work together to complete the previously announced merger of the two companies as expeditiously as possible a spokeswoman for viacom declined to say if the executives had set a timetable for closing the deal
the move had little effect with the dollar still testing 148 yen ahead of the official fixing
oecfs chief representative takashi matsuya told reporters the japanese government is appraising the loan
harper international inc said it intends to buy the major asset patents and trade name of demarkus corp a designer and installer of process gas systems for the soft drink and brewing industries
the heller approach while extremely complex could have a profound impact on the system ideally stabalizing prices and international exchange rates
fidelity national financial inc fnf 1st qtr
the imc said in a statement the ico is an important instrument for ensuring producers obtain an adequate price
double eagle petroleum and mining co dblbo 
the price was last changed september 9 unocal said
unocal corp said it raised the contract price it will pay for most grades of crude oil 50 cts a barrel effective today
if we got one per cent of it it would be a big improvement he said
blackburn intends to run a tight ship in which dividends will not initially be paid and the resultant savings invested into exploration and production
the buffer stock working group finalized the remaining buffer stock rules with only minor modifications to the original draft buffer stock package produced last week the delegates said
together with the five mln rexnard shares it already owns the company said it now holds a 97 pct stake in the company
money market dealers speculated that the central bank could be taking the opportunity to signal a reduction in uk base lending rates by cutting the rates at which it intervenes in the discount market
finnish wholesale prices rise 02 pct in february
only six pct of the crop was planted as of last week said doug stillmann a statistician at the texas agricultural statistic service in austin a division of the us agriculture department
analysts and some wall street sources said they doubted another bidder would emerge since purolator had been for sale for sometime before a deal was struck with hutton friday
pentland industries plc said it report a substantial capital gain from the sale of part of its holdings in reebok international limited which will cut its stake in reebok to 322 pct from 367 pct
in the northeastern spanish city of saragossa thousands of spanish farmers battled with police during a march to demand a better deal from brussels
the test developed by cetus corp ctus researchers requires only a small amount of genetic material from a fetus and produces a diagnosis within a day unlike other tests that require several days and can only be done in a few specialized centers they said
under the foreign exchange auction system introduced in 1985 zccms profits from its foreign exchange earnings rose as the value of the kwacha fell to 21 to the dollar from just over two to the dollar
however they noted that it was not a major move
the minister will seek a clear timetable from japan for easier access for british institutions to japanese financial markets reciprocating the easy access japanese securities houses and banks have to the city of london
the company which makes stainless steel tubing for the chemical petrochemical and oil industries earned 1045000 dlrs or 51 cts a share in the nine months ending september 30 1986
cpc said ajinomoto is also purchasing 50 pct interests in cpcs wholly owned subsidiaries in hong kong malaysia the philippines singapore taiwan and thailand
the government also enacted a decree cutting to one pct from 13 pct the proportion of total assets which banks must lend at favourable rates to industries classified of public interest some bankers expect the deregulation of rates to result in a 20 pct drop in profits this year
us trade representative clayton yeutter said canadas finding announced today that us corn imports injure canadian farmers is totally unjustified us corn exports to canada are so small that it is inconceivable that they injure canadian corn farmers by any reasonable measure yeutter said in a statement
premier yu kuo hua ordered financial officials to quicken the pace of relaxing foreign exchange controls and study the possibility of suspending the controls a cabinet statement said
edelman group in plan to buy morse shoe mrs 
wheat durum oats and barley crops were all one pct headed rye was 40 pct in the milk stage and winter wheat was 21 pct milk stage
they put wednesdays overnight system repos at approximately 34 billion dlrs
net international reserves now total about 800 mln dlrs compared to 154 billion dlrs a year ago
rainer gut chairman of credit suisse told the national press club that the dollars downward trend against the yen and the mark will continue for years because the united states is the worlds largest debtor nation
us sees more harmony in talks with france
gunze sangyo inc of tokyo is issuing 25 mln swiss francs of five year convertible notes with a 1 1 2 pct coupon lead manager swiss volksbank said
the company said williams 4327p per share offer was unsolicited and unwelcome and significantly undervalues norcros
the southerners goal of including agricultural and tropical products also was met
swift independent packing co sftpr 1st qtr net
it also forecast higher 1987 sales due to an increased order backlog
the debentures are due june 1 2002 and pay a semi annual coupon of two pct and are priced at par
computer research inc core 2nd qtr feb 28 net
shr 36 cts vs 37 cts net 2751000 vs 2179000 qtly div 40 cts vs 40 cts prior avg shrs 7699241 vs 5943341 note dividend payable april 10 to shareholders of record march 30
memory protection mpdi sees bogen closing
the current crude oil price of between 18 and 20 dlrs a barrel will remain stable over the next couple of years rising only one to two dlrs a barrel per annum to keep up with inflation opec president rilwanu lukman said
he told ibc president jorio dauster has confirmed acceptance of national coffee policy council cnpc proposals to establish individual export quotas based 65 pct on export performance 25 pct on stocks and 10 pct by auction
jwt jwt not approached by group seeking shares
brazil still seems willing to talk to the fund under the annual discussions that all imf members undertake conable said adding that this could partially solve the current stalemate
said david gluskin vice president of nesbitt thomson bongard inc when interest rates finally seem to have stopped going down there is going to be a flood of people trying to lock in the long end and not everyone will be able to get in the door but bonds analysts said at the moment with interest rates trending down investors appear to welcome the change especially the greater treasury bill financing
shr not given net loss 690 mln vs profit 3682000 revs 2583 mln vs 2296 mln six mths shr loss 588 mln vs profit 133 mln revs 5179 mln vs 4665 mln note company recently spun off from carter hawley hale stores inc chh current year net both periods includes 408 mln dlrs in pretax charges from carter hawley hale restructuring
the countrys current account deficit narrowed to 1069 mln dlrs in october from 79 mln in september and 1175 mln in october 1985
we are not yet ready to commit the hundreds of millions of dollars it would take for such a project slenniken said
pinnacle west capital corp said its malapai resources co units bought the mineral rights for uranium mining on about 21000 acres in northern wyoming from westinghouns electric corp wx the property is adjacent to a 34000 acre site the company already owns
1986 net excludes tax credits of 1295000 dlrs in quarter and 2712000 dlrs in year
they said the move is effective immediately
hechinger hecha offering of 100 mln dlrs of convertible subordinated debentures due 2012 through morgan stanley and co inc
oil industry analysts said saudi arabia has led the attempt to get other opec members to resist pressures to discount from the official prices agreed to last december
taiwans central bank issued 12 billion taiwan dlrs worth of certificates of deposit after issuing six billion yesterday bringing cd issues so far this year to 11547 billion dlrs a bank official told 
the department said the issues are contingent upon final parliamentary authority being given to bill c 40 a previously announced act to give the government supplementary borrowing authority for fiscal 1987 march 31 and borrowing authority for fiscal 1988
us completions of new homes fell 02 pct in january to a seasonally adjusted rate of 1884 mln units from 1888 mln in december the commerce department said
caesars world inc declined immediate comment on news that martin sosnoffs mts acquisition corp has held preliminary talks with two companies on the possibility of forming a joint venture to pursue the acquisition of caesars
tass news agency announced yesterday that grain products minister grigory zolotukhin 75 was being retired and replaced by alexander budyka a senior food industry official
the previous record was 1751 billion dlrs last august
the national plan set before prices began to rise put plantings this year at 460000 hectares against 425000 in 1986 nowicki said
the bank of france said it sold a total 845 billion francs worth of treasury tap stocks through its latest monthly tender at which it offered a choice of one floating rate and two fixed rate tranches
investment in new activities in 1987 should continue at a relatively high level to exploit opportunities for growth
the merged banks would have assets in excess of 25 billion dlrs and be one of the 25 largest banks in the us norstar operates in most of new york state but not in new york city
the acquisition which is subject to board approval and a definitive agreement is expected to be concluded during may
the exercise price of the subscription warrants will be 99 pct
video jukebox network inc said it signed a letter of intent to purchase up to 35 mln shares of the four mln shares of the companys common stock from its founder and president steven peters
gencorp also said it is developing a financially superior alternative that would enable shareholders to benefit from the full value of the company
the market had opened 1 4 to 3 8 point stronger on news of unexpectedly weak us employment data for march but the advance sparked profit taking which forced prices down about 1 4 point on the day
the agreement signed march 11 provides for the sale of about 75000 tonnes of wheat wheat flour worth 85 mln dlrs 15000 tonnes of corn sorghum worth 15 mln dlrs and 6000 tonnes of tallow worth 20 mln dlrs the department said
the company said burke is president and chief executive of allied comprehensive health inc abilene while bruce is a partner in the washington law firm of butler and binion
hutton is providing a 279 mln dlr bridge loan that would later be replaced with other debt
but lee said the negative inflation rate is unlikely to be repeated this year because of projected higher prices for primary commodities and oil
the report dated march 25 said imports in the 1987 88 season are projected at 80 mln tonnes 10 mln tonnes above the the current seasons estimate
api noted the drop in crude oil output coupled with a drop in natural gas liquids production which was off 11 pct from february 1986 levels represented a decline in us production of more than one mln barrels a day
southwest said the waiting period expired on march 5 without receiving a formal second request for information
the selling concession is 1 1 2 pct while management and underwriting combined pays 3 4 pct
we expect to maintain an adequate level of liquidity through 1987 it said
schlesinger said he had no comment on the remarks of his two central bank council colleagues
yao liu president of chi shun hwa steel co a leading shipbreaker and steel producer in kaohsiung told we expect to scrap fewer ships this year because of an expected decline in our steel product exports lin said many breakers predicted a 20 pct decline in scrapping operations this year due to falling demand from the us japan and southeast asia for taiwanese steel
i would like to underwrite a deal a day
it said initial estimates indicate that company stocks fell by 12 mln bpd in oecd countries in the first quarter of the year
i would refer you to the paris agreement which was a recognition the currencies were within ranges broadly consistent with economic fundamentals baker told the cable news network in an interview
bundesbank leaves credit policies unchanged
his expectations of a satisfactory profit were based on a combination of price rises and cost cutting he added
tender loving care said the extended merger agreement continues to provide for the exchange of 16 of its shares for each staff builders share outstanding
morgan guaranty trust co of new york plans an issue of 12000 warrants for gold bullion at 425 dlrs an ounce lead manager morgan guaranty switzerland ag said
societe generale dutch unit launches cd programme
the merger following the tender offer will be subject to approval by argosystems shareholders the companies said
after settlement of intercompany transactions between the wilkinson sword groups and allegheny the net payment by swedish match will amount to about 160 mln dlrs
bryson pays 54 mln dlrs for cenergy corp stake
bonn and paris are diametrically opposed to a proposal for the brussels executive commission to overhaul radically the ecs complex green currrency system designed to translate common ec farm prices into national currencies
joe gold said the golden patricia vein has not been tested at depth or along strike to the east and west and exploration is continuing on the golden patricia property and the adjacent wholly owned muskeg lake property
international lease finance ilfc 1st qtr net
the operation will put the outstanding bill supply at about 1900 billion yen money traders said
japan us set to begin high level trade talks
flooding in the red river on the texas oklahoma border has shut down the basin pipeline a 24 inch pipeline that transports as much as 300000 barrels per day of sweet and sour crudes from texas to cushing okla a texaco pipeline co spokesman confirmed
however australias output is estimated to rise to 90 tonnes this year from 735 tonnes in 1986
the statement said congress should not modify the 1985 farm bill so the law might have its intended impact of making agriculture more competitive in export markets while at the same time maintaining farm income we strongly believe american farmers now need predictability and certainty in farm legislation in order to have any opportunity of making proper production and marketing decisions the groups said
president reagan said on sunday he had already made a decision on the us response to fridays iran attack but would not say what the decision was
on april one nymex will allow oil traders that do not hold a futures position to initiate after the exchange closes a transaction that can subsequently be hedged in the futures market according to an exchange spokeswoman
new zealands trading bank seasonally adjusted deposit growth rose 21 pct in february compared with a 26 pct rise in january the reserve bank said
kobena erbynn of ghana in the post
current rates are 1 3 4 pct for savings accounts 24 hours seven day call one week and two weeks
mize had bought about 9400000 shares or about 33 pct of dnas outstanding stock for 100000 dlrs cash
sommer will assume the additional title of president
shr loss 57 cts vs loss 288 dlrs net loss 3442000 vs loss 13750000
some of that is ending up here with the attraction of high interest rates and reasonable currency stability national australia bank ltd economist brian hamley said
us bill auction rates average 572 580 pct
the acquisition was contingent on its ability to obtain financing to fund the 19 mln dlr cash portion of the purchase price intercare said
total fees of 2 1 2 pct include one pct for management and underwriting and 1 1 2 pct for selling including an 20 basis point praecipuum
a spokesman for national steel corp a joint venture of national intergroup inc nii and nippon kokan kk said the company is not in the product lines affected
solmecs develops technology relating to energy conversion
the sanwa bank ltds three year business plan foresees securities and international operations making a greater contribution to operating profits a bank official said
ec 1986 87 coarse grain production is projected at 8122 mln tonnes vs 8119 mln tonnes last month
lennar corp said it completed the previously announced acquisition of development corp of america dca consequently it said the american stock exchange suspended trading of development corps common stock 10 pct subordinated debentures due 1993 and 12 pct subordinated debentures due 1994
debt payments this year are expected to total 287 mln dlrs seaga said
shr 14 cts vs 13 cts net 2867 000 vs 2723000 revs 189 mln vs 191 mln 1st half shr 39 cts vs 32 cts net 8139000 vs 6709000 revs 473 mln vs 445 mln note affiliate of mckesson corp mck
oper shr 27 cts vs 29 cts oper net 135 mln vs 146 mln revs 1046 mln vs 1103 mln 12 mths oper shr 410 dlrs vs 366 dlrs oper net 205 mln vs 1868 mln revs 14 billion vs 13 billion note 1986 12 mths oper net excludes extraordinary gain of 217 mln dlrs or 46 cts per share from sale of virginia service territory to virginia power
this is after accounting for the loss of some 15000 to 20000 tonnes due to the transport problems in the countryside they said
he said an involuntary buildup in inventories largely in autos will add to first quarter economic growth with consumer spending helping later
world bank president barber conable expressed concern that trade protectionism at the heart of a new showdown between the united states and japan might spread throughout the industrial world
in woodbridge nj supermarkets general responding to a previous letter to its board by dart said your conduct indicates to us that no transaction involving trust and confidence can be entered into with you
certificates were also granted for the export of 15000 tonnes of maize at a maximum rebate of 13290 ecus per tonne the traders said
the selling concession is 1 1 2 pct while management and underwriting combined pays 3 4 pct
pursuant to the exchange offer each 1000 dlr principal amount will receive 500 dlr principal amount of senior subordinated notes due march 1 1992 200 dlr principal amount of non interest bearing convertible senior subordainted notes due march 1 1997 and 12 shares of delayed convertible preferred stock liquidation preference 25 dlrs per share
the bwb cites record consumption and an eventual decline in domestic production and says government plans to lower the guaranteed price of wheat from 242 dlrs per tonne to 180 dlrs will contribute to greater import demand the usda said
the selling concession is one pct while management and underwriting combined pays 1 2 pct
dtd enterprises inc in reorganization
they saw the current account surplus falling in 1987 to 58 billion marks from 78 billion in 1986
tobacco accounted for about 50 pct of profit with a four pct gain to 764 mln stg and a two pct increase in world volume
according to an agreement in principle between the two companies cgee alsthom could take a majority stake in the future but no time scale has been set he added
three consecutive days of talks between management and unions aimed at ending the three month old strike at cargill uk ltds oilseed processing plant at seaforth ended yesterday without resolving the situation although some progress was made a company spokesman said
it said growing grain should be made profitable
caesars currently carries b 1 convertible debt and the finance has same rated subordinated debentures
state secretary for foreign affairs rene van der linden said the government was against the tax although it noted deepening ec financial difficulties
compromise cited on san miguel shares
he said the ec needed a set of indicators of economic convergence betwen community countries and it was important that interest rates fulfilled this role together with exchange rates and inflation rates
macdonald a director of tmoc resources ltd the principal holder of avalon stock and hardwick simmons a vice chairman of shearson lehman bros inc were then named to the board
its monthly report said 947 mln tonnes of goods passed through the port last year compared with 926 mln the year before
us m 1 money supply rises 500 mln dlrs in march 9 week fed says
it said the results could have been even better had it not been for the collapse of refining and sales profit margins in the last quarter of the year
shr 227p vs 203p
venezuela hit by a 40 pct drop in oil income last year had sought a direct link between repayments and the level of oil income but banks resisted on the grounds this could create a dangerous precedent for other latin american debtors
he said at least 12 mln tonnes of the 1987 88 crop would be earmarked for domestic consumption
its deficit with the european monetary cooperation fund fecom remained unchanged in february at 3390 billion francs
circle express terminates planned acquisition of overland express
sprinkel said that compared with fiscal 1978 the 1986 federal expenditure share of gnp is 27 percentage points higher and the revenue share of gnp is virtually the same
thl holdings inc year jan 31 net
azpurua said venezuelas 450 or so creditor banks have been contacted with details of the new agreement and that public finances director jorge marcano may visit financial centres to round up support
this occurred against a backdrop of uncertainty over the course of us interest rates for the intermediate term and predictions by a number of economists that treasury yields would rise in the second half of the year the sources noted
sturm ruger submits bid for smith and wesson
dome rose 1 4 to 1 1 8 on the american stock exchange
conference chairman manaspas xuto of thailand said the formal adoption represented a historic moment the latest round of talks which began march 9 represented the fourth attempt to negotiate a new inra in nearly two years
first federal said subject to certain adjustments including first federals earnings prior to the close of the deal each share of its common stock shall not be converted into less than 29 shares or more than 35 shares of bankeast common
summit petroleum corp said it sold 113 mln shares or 294 pct of its common stock to halbert and associates inc the company said the shares were previously held by consolidated energy corp and harken oil and gas inc hogi in addition david d
farmers can forfeit their beans to the government rather than repay the loan
the brazilian negotiations resume on friday in new york when central bank governor francisco gros is expected to ask banks for a 90 day roll over of some 95 billion dlrs of term debt that matures on april 15
it said it will add 4400 subsribers to its 568000 subscriber base
olin oln unit acquires image technology
we see nothing right now in the outlook that causes us to believe rates are going much higher or that the economy is not sound seidman told a news conference
production rose in all sectors except agricultural machinery and aeronautics where it stabilised and ship construction where it declined
the yen should stabilize at around 152 to 153 to the us dollar for about a year the bank of tokyos economic adviser koei narusawa said
usxs subsidiary marathon petroleum co said it will raise its contract prices for eleven grades of crude oil 50 cts a barrel effective tomorrow
the paper said 43000 hectares in meixian county in guangdong are seriously short of water
allied signal inc said it completed the previously announced sale of its linotype group to commerzbank ag of west germany
the notes will be supported by an irrevocable letter of credit by the federal home loan bank of boston
efps already in effect for platinum futures on nymex are expected to increase the open interest and liquidity in us energy futures according to traders and analysts
shr 28 cts vs 46 cts net 1634000 vs 2007000 avg shrs 5850000 vs 4400000 nine mths shr 82 cts vs 177 dlrs net 4788000 vs 7792000 avg shrs 5850000 vs 4400000 loans 5869 mln vs 4815 mln deposits 6974 mln vs 6062 mln assets 7972 mln vs 6834 mln note full name sun state savings and loan association
london ore enquiries fixtures
shr 57 cts vs 72 cts shr diluted 57 cts vs 66 cts net 2699000 vs 3250000 revs 1908 mln vs 1959 mln six mths shr 45 cts vs 84 cts shr diluted 45 cts vs 79 cts net 2092000 vs 3784000 revs 3042 mln vs 3046 mln note includes a change in accounting for investment tax credit of 1408000 or 31 cts per share in six mths prior
but the future rate of decline is very much a function of world oil prices and us government policy lichtbalu said that tax breaks could be used to raise oil production but would only work over time
ge credit said the bank of new york will be the redemptions paying agent
the cocoa pact establishes precise differentials the buffer stock manager must use when purchasing varying grades
council of economic advisers chairman beryl sprinkel said the reagan administration remains strongly opposed to a tax increase including 18 billion dlrs of new revenues in the budget plan by congressional democrats
most economists estimate continued high inflation
the federal agency said that in december oil production fell 40 pct to 773 mln cubic meters while exports rose 52 pct to 284 mln cubic meters and imports rose 123 pct to 21 mln cubic meters
brooklyn union bu to buy gas from shell oil
this is really getting pretty serious
the 15 year bond will mature on may 31 2002 the 10 year on may 30 1997 and the six year on may 31 1993
the company said it expects to release first quarter results in the third week in april
turner broadcastings tbs cnn to air in china
the exercise period is june 5 1987 to february 4 1992
the commodity credit corporation ccc has accepted bids for export bonuses on 36000 tonnes of durum wheat to algeria the us agriculture department said
aqazadeh said organisation of petroleum exporting countries opec members were agreed on holding production stable and he reiterated the importance of maintaining oil prices
volcker says us trade deficit is major challenge
the move drove short term interest rates sharply higher with overnight and tomorrow next funds more than doubling from last wednesday and hitting 20 pct
strong winds of 20 to 35 mph with some stronger gusts were reported across much of the plains causing considerable blowingand drifting snow
first there are supply concerns
the bank official said commercial bank reserves were 2219 billion pesos at the end of december when reserves required were 2159 billion
fcs laboratories fcsi terminates deal talks
judges offer of 38 billion pesos is about five pct of the philippines yearly budget ariadnes philippine agent domingo panganiban was quoted as telling reporters yesterday
managers are dresdner south east asia ltd mitsui trust and banking co ltd and the uco bank
in a filing with the securities and exchange commission the group which also includes individual investors and a non profit foundation said it bought the stake for 884414 dlrs as an investment in the anaheim calif company
prior year net both periods includes 7580000 dlr pretax charge for store closings
brown and sons inc absb and donaldson lufkin and jenrette securities corp the offering is expected to be made in early april with company proceeds used to repay all short term debt for working capital and for possible acquisitions
land securities plc is issuing a 100 mln stg eurobond due april 29 2007 with a 9 1 2 pct coupon and priced at 95 3 4 lead manager j
kaufman and board inc and its insurance subsidiaries said they lowered their stake in quaker state oil refining corp to 1795908 shares or 69 pct of the total outstanding from 2120908 shares or 81 pct
proceeds will be used primarily to retire short term debt finance possible acquisitions and fund investments in or extensions of credit to its subsidiaries the company said
the property sector is also sought after with japanese companies that have invested heavily in the united states in recent years turning their attention to undervalued real estate particularly in the tourism field
nz 77 day t bills yield 2497 pct at tender
crownamerica inc crna 2nd qtr ended feb 28
the amount will be set at tender on monday march 9 between 0800 and 0830 gmt
under the option bonus program which is also scheduled to expire april 30 buyers receive cash bonuses on the purchase of pontiacs equipped with option group packages with the amount depending on the option level on each vehicle
rockwell international corp is raising 200 mln dlrs through an offering of notes due 1997 yielding 7682 pct said lead underwriter daiwa securities america inc
but because of uncertainty about banks current holdings the bundesbank may well allocate less than 16 billion marks this week and top it up if necessary at next weeks tender
us cotton certificate expiration date extended
separately panteras said it issued an area development agreement with a franchisee group for northeastern colorado including the denver area for the opening of about 20 franchised panteras pizza restaurants
in an interview with lyng also said the reagan administration will ask tokyo to remove its quotas on us beef and citrus exports
he told a news conference nord est expected to receive approval from the bourse supervisory body cob in the next two week when terms would set according to market conditions
the split shares will be distributed on june 29 to shareholders of record may 13
condere said it expects first year revenues to be 90 mln dlrs
the united states has continued to abide by the spirit of the memorandum of understanding and has consulted with the asean states on gsa tin disposals a state department spokesman said in a statement
moodys cited the companys overall losses
its a very tight time frame ontarios peterson said last night
the senate voted 93 to 0 to urge reagan to impose penalties on japanese high technology products containing semiconductors in retaliation for what it sees as japans violations of the semiconductor pact
maude averaged out the wide swings in the retail sales data over past four months to show that the pace of consumer spending is slowing
there is a 1 1 4 pct selling concession and a 5 8 pct management and underwriting fee
but german banking sources said concern the bank had to take a hefty writedown for its unplaced fiat stock had weighed heavily on its share price
sico said it acquired sterling groups canadian assets in february
macandrews and forbes group and revlon group inc rev said that they have entered into a definitive mergewr agreement where macandrews will acquire revlon at 2010 dlrs per common share in cash
money market analysts cited the debt renegotiation as the main impetus behind increases today in both the commercial and financial rand
she said deposits with the commercial banking system rose to just over 118 billion pesos at the end of december from 10789 billion at the end of 1985 and 9283 billion at the end of 1984
transamerica will buy 11 mln newly issued class a shares of river thames for 223 dlrs per share
mark iv industries inc iv which has said it is mulling a bid to seek control of baird corp said it has no present plans to acquire more than 25 pct of the companys total outstanding common stock
most japanese securities houses and banks established here said they have concrete plans to enter lead management business as soon as terms are cleared probably this year
scientific micro systems inc said it expects first quarter revenues to rise by about 60 pct to 24 mln dlrs compared with the 15 mln reported for the first quarter last year
the commerce department reported last week that the nations trade gap calculated on a balance of payments basis swelled to a record 3837 billion dlrs in the fourth quarter bringing the 1986 deficit to a record 14771 billion dlrs
a federal appeals court ordered the oil companies to halt all exploration and remove all drilling rigs from two tracts in the bering sea off alaska because of possible harm to the subsistence needs and culture of native eskimos
it said oteiba who had just attended the opec ministerial meeting in vienna would stay for several days but gave no details
coupon and conversion price for the par priced bond maturing on september 30 1996 will be set before payment on may 2
the new pipeline will enable japan to load mexicos maya crude oil at salina cruz rather than in the gulf of mexico
it also has reorganized management and focused its operations on businesses that would be less affected by foreign competition gormley said
vbi said it bought 179200 france fund common shares between april 24 and june 2 at prices ranging from 13000 to 14125 dlrs a share
s p may downgrade mark iv industries iv debt
the department said if deliveries of us wheat to senegal remain on track the us could dominate a wheat market that had been expected to import 140000 tonnes of mostly french wheat during the 1987 88 july june season
tseng laboratories inc said it expects first quarter 1987 sales to exceed total sales for the entire 1986 year and said it expects earnings for the quarter to grow at a faster rate than sales
cable and wireless details merger of hk units
french ski and tennis equipment maker skis rossignol said its 977 pct owned subsidiary skis dynastar sa agreed to buy canadian ski stick and boot manufacturer cfas from warrington inc a rossignol spokesman declined to give financial details but said turnover of cfas was about 100 mln french francs doubling the rossignol groups activities in the boot and stick sectors
circon corp ccon 4th qtr
but they claimed it was a once off phenomenon that should have no knock on impact on the rest of the year
usda estimates argentine coarse grain wheat
the supreme court without comment declined to hear an appeal by the bondholders seeking to reinstate their lawsuit
traders are stocking up and when they have overbought the prices will start declining again
prime computer inc prm 3rd qtr sept 28
under the pact diceon would exchange 300000 shares of its stock for all of symtrons shares
a foreign ministry official dismissed arguments made by senior us government officials seeking to block the sale of a us microchip maker to a japanese firm
at the same time the decline in exports to oil producing countries looks set to slow this year
southland slc targeted in sec investigation
us to set orange juice duties monday
gamma biologicals inc gamao 4th qtr march 31
it said mnc financial inc is the proposed new name for the parent company
the us expects more harmonious talks than usual during french prime minister jacques chiracs first official visit this week as frequently rancorous disputes between the two countries begin to fade
financial santa barbara fsb to make purchase
the two departments are trying to hammer out an accord on how to fund the increasing share of food aid required to be shipped on us flag vessels under a 1985 farm bill provision on cargo preference
private exporters said china bought a total of 550000 tonnes of us wheat under the export enhancement program with final confirmation by the us department of agriculture of the subsidies still awaited
nogales said bolivia will make a single offer to buy back its commercial debt and banks who accepted would be paid the discounted rate in full
rates for five billion pesos worth of philippine treasury bills eased slightly at fridays auction with tenders totaling 1394 billion the central bank said
effective today the new prices are 03 pct sulphur 2250 dlrs up 125 05 pct sulphur 2185 dlrs up 160 one pct sulphur 2010 dlrs up 70 cts two pct sulphur 1985 up 75 cts 22 pct sulphur 1925 dlrs up 90 cts 25 pct sulphur 1880 dlrs up 120 the company said
iomega iomg sets management labor layoffs
holiday operates harrahs marina hotel and casino in atlantic city nj
it is payable june eight record may 21
it has also asked france to curb the activities of iranian dissidents in france and stop selling weapons to iraq its enemy in the gulf war
french domestic bond issues totalling 445 billion francs have been approved by the bond issuing committee for publication in the official bulletin of march 30 the committee announced
they said the intervention occurred near the dollars early low of 14850 yen and the us currency subsequently firmed to 14905 15
calprop corp cpp 4th qtr net
travelers mortgage services inc a unit of travelers corp is issuing nearly 752 mln dlrs of mortgage pass through certificates said sole manager morgan stanely and co inc
treasurys baker says he stands by paris pact
technitrol inc tnl 4th qtr
first sarasota bancorp said its shareholders approved the acquisition of its city commercial bank subsidiary by first union corps func first union national bank of florida
the us court of appeals for the second circuit upheld a lower court decision dismissing a suit by apex oil co against the new york mercantile exchange and several oil companies
it said it would continue with plans for all its activities to be internationally competitive and profitable
it outbidhell bankruptcy trustee said
proceeds will be used for general corporate purposes maryland national said
national business loan data are scheduled to be released on friday
roberts said there had been some talk that the issue of an eep to moscow had not been raised within the reagan administration recently because secretary of state george shultz was out of the country
we look for rapid progress in commercial bank discussions with argentina the philippines and ultimately brazil he said
gencorp takes no action on stock dividend
idea said the purchase will add about 32 cts per share to its fiscal 1988 earnings
by the end of the year he said 90 pct of the companys subscribers will be carried on its fiber optic lines instead of leased att lines compared with 60 pct by the end of the second quarter
first interstate bancorp said its 1987 pre tax income could be reduced by about 335 mln dlrs if it decides to reclassify its 339 mln dlrs in medium to long term loans to brazil as nonperforming
as well as financial and marketing pressures some states depended on associated gas output for domestic use and oil cutbacks had left insufficient gas supplies he added
qtly div 20 cts vs 20 cts prior pay june one record may 15
one could make a case that the fed is firming but it probably isnt said william sullivan of dean witter reynolds
about 300 other creditor banks also are expected to approve the agreement he said
attempts to refloat the vessel with the help of six tugs have been unsuccessful
mayfair super markets inc myfra 2nd qtr feb 28
a review of south africas economy by the technical committees economic sub committee was to be held in february while the talks for the rescheduling were due to start some time this month or next month
construction employment rose a slim 2000 in february
total futures and options turnover on the london international financial futures exchange liffe fell slightly during february although daily average eurodollar volume set a new record liffe said today
the debentures are convertible into the companys common stock at 4425 dlrs per share representing a premium of 2508 pct over the stock price when terms on the debt were set
microtels shareholders include norfolk southern corp nsc m a com inc mai centel corp cnt alltel corp at and ef hutton group inc efh
oecd trade growth seen slowing in 1987
west german cocoa grindings within expectations
the main reasons for the january decline after a 23 pct december rise were declines in building permits new orders for plant and equipment and for consumer and industrial goods
imatron is capitalised at 3276 mln dlrs the spokesman said
invacare also reported 1986 net income of 34 mln dlrs or 60 cts a share up from a loss of 11 mln dlrs or 19 cts a share in 1985
with a name like this youre talking about japan inc the lead manager was the bank of tokyo international boti and the deal ended far above the par issue price at 108 109 pct
montreal trustco inc is issuing a 100 mln canadian dlr 8 1 2 pct bond due may 6 1992 at 101 pct lead manager societe generale said
on line software international inc is raising 40 mln dlrs through an offering of convertible subordinated debentures due 2002 with a 6 1 4 pct coupon and par pricing said lead manager drexel burnham lambert inc
shr three cts vs three cts net 141224 vs 118192 sales 5849695 vs 3717794 avg shrs 4975000 vs 4925000 year shr 15 cts vs 10 cts net 720126 vs 474879 sales 182 mln vs 115 mln avg shrs 4959932 vs 4902778 note 1985 year net includes gain of 58000 dlrs or one cent a share from tax loss carryforward
painewebber group pwj to redeem debentures
the average forecast called for a 18 billion dlr increase
payment date has been brought forward to march 27 from march 30 and the bonds will mature on march 27 2002
on june 12 1986 the utility sold 125 mln dlrs of same rated nine year securities priced to yield 854 pct or 58 basis points over treasuries
ccc accepts bonus on cattle to canary islands
the strike caused cominco to declare force majeure which means the company may not be able to honor contracts for products from the smelter and mine
as with the previous 64 eep initiatives sales of us barley malt would be made to buyers in colombia at competitive world prices usda said
pre tax profit 5132 mln guilders vs 5455 mln net profit 2853 mln guilders vs 2654 mln consolidated net turnover 668 billion guilders vs 640 billion net profit per 2500 guilder nominal share 1111 guilders vs 1033 taking into account one for three scrip issue last year final dividend two guilders vs same making total 350 guilders vs same
cpl real estate cntrs cuts regular payout
talyzin said the 1988 soviet plan stressed the engineering industry which kremlin leader mikhail gorbachev has described as a sector where rapid modernisation is essential if the soviet union is to compete effectively on world markets
ford said in addition extrusion dies cost 1000 to 12000 dlrs each compared with hundreds of thousands of dollars for steel stamping dies and using extruded aluminum the number of welds in a car could be reduced to about 40 from over 2000
butlers livestock systems division was sold to an investor group including the president of the operations and certain control division assets were sold to minneapolis based enercon data corp
the commodity credit corp ccc has accepted bids for export bonuses to cover sales of 340000 tonnes of hard red winter wheat and 210000 tonnes of soft red winter wheat to china the us agriculture department said
i think we are finally down to the final paragraph in this book he said
besides the financing it would raise through a bank syndicate bank of america has also agreed to provide a separate 25 mln dlr for the limited purpose of partial financing and has committed to provide another 592 mln dlrs redstone said
the contract to be signed by pdvsa and champlin petroleums parent company the union pacific corp unp will create a new joint venture called champlin refining
many bankers have been urging an average half percentage point cut in deposit rates and a one point cut in lending rates they said
foreign banks hold almost half the debt
dome said 1986 crude oil production in 1986 was maintained at prior years levels through new drilling activity and improvements in productivity
the unions sugar beet committee met yesterday to consider the implications of a government monopolies and merger commission mmc report issued last week
the bank said first quarter total assets increased to 8392 billion dlrs from 7893 mln dlrs in the prior year due mainly to continued expansion in consumer loan and mortgage fields
argosystems makes equipment to monitor and analyze military communications signals electronic warfare equipment to monitor and jam radar signals and signal processing systems
58 japanese financial institutions are authorised to deal in london of which 29 are banks
the usda reported high placements in february which may weigh on back months of cattle futures
xie was quoted as saying the present cash shortage means some state firms do not run at full capacity and are inefficient
peru ecuador bolivia costa rica honduras guatemala and nicaragua had all curtailed payments before brazil
the us court of international trade has upheld the international trade commissions refusal to extend countervailing duties on canadian hogs to include pork products the national pork producers council said
a and p is 524 pct owned by tengelmann warenhandelsgesellschaft of west germany
singapore banks say diversification key to growth
the americans are getting frustrated at japans inertia in stimulating its economy said hirozumi tanaka assistant general manager of dai ichi kangyo bank ltds international treasury division
the english language south china morning post said us lines decided yesterday to sell its two remaining transpacific service fleets and assets and those of its us south america operation
finance minister kiichi miyazawa said major nations are taking action to stabilise exchange rates in line with their agreement in paris last month government sources said
domestic expansion in foreign industrial countries has not been enough to offset the effects of slower exports volcker said
ottawa announced previously it was seeking parliamentary approval for the additional authority to cover the financing of an increase in the governments foreign reserves
but farmers who elect not to participate in the program are free to plant all the acreage they have
we intend to keep that debate open herrington said
the loan had originally been intended to finance an expansion of the pipeline but following the earthquake the ecuadorean government asked for the terms to be changed so as to permit their use in reconstruction
the prices will remain in effect for a week but new prices could be announced earlier if warranted usda said
the us feedgrains council is surprised and disappointed by the canadian import tribunals decision that imports of corn from the us are materially injuring canadian corn producers a council spokesman said
bank of japan calls for long term efforts on trade
at cbs and abc where the writers guild of america has been on strike since early march viewers have noticed little difference in the programs
it said the proposed settlements would resolve disputes over possible violations by the five parties
two for one stock split pay may 12 note split is subject to approval of shareholders at april 23 annual meeting
the partnership said its dealings in erc stock are for investment purposes and it has no intention of seeking control of the company
other factors commonly blamed for the deficit such as foreign trade practices deteriorating us industrial competitiveness high labour costs and government restrictions on mergers added little to the problem it said
continental bank of canada said shareholders approved a capital reorganization to allow an initial payout by the end of may to common shareholders from last years 200 mln canadian dlr sale of most continental assets to lloyds bank plc s lloyds bank canada
genova gnva to merge into genova products
liquidity in the philippines rose in december while loan demand and short term lending rates fell the central bank said
neworld has assets of 12 billion dlrs and 24 officers in massachusetts
samuel montagu and co ltd is lead manager and agent
prime minister margaret thatcher has given notice that the uk would fight the japanese governments attempt to prevent cable and wireless plc cawll from taking a significant position in a new japanese international telecommunications venture
the company estimated parent company current losses at 15 billion yen in 1986 87 including a gain of 95 billion yen from the sale of securities
publishers equipment corp pecn year net
cts cts increases 1986 loss
jamaica agreed in principle with its bank advisory committee on a rescheduling of 181 mln dlrs of foreign commercial bank debt falling due between 1987 and 1989 the jamaican information service said
if we are to take effective remedial action when there are significant deviations from an intended course then we must have more definitive ways of indentifying the right course for key variables he said
yields could rise further over the next few months but the rise should be less than the 65 basis point rise weve seen since the start of the year held said
the government would make foreign currency loans worth 25 billion dlrs to firms willing to import capital goods raw materials and equipment preferably from the us he said
eishiro saito head of top japanese business group keidanren spotted the dangers inherent in such contradictory views last november when he visited the european community
iowa beef processors inc is lifting a lockout at its dakota city nebraska processing plant and plans to resume operations march 16 united food and commercial workers ufcw union spokesman allen zack said
analyst thomas ogrady said chrysler would be getting more manufacturing capacity including a brand new plant in canada for a bargain price and renault would be getting some return after its prolonged loss making investment in amc
turnover 8250 mln vs 7916 mln
pop radio popx gets rite aid rad 
an officer with korth said he belives his firm underwrote the first such issue eight or nine months ago for citicorp cci gmacs mangan said his company issued through korth in october 1986 a 50 mln dlr issue that carried two different price levels
plans call for production to eventually reach 500000 mt annually
everest and jennings eja qtly dividend
international multifoods corp imc dividend
shr primary 92 cts vs 109 dlrs shr diluted 82 cts vs 97 cts net 218 mln vs 261 mln nine mths shr primary 307 dlrs vs 296 dlrs shr diluted 272 dlrs vs 244 dlrs net 732 mln vs 653 mln assets 1429 billion vs 1235 billion deposits 952 billion vs 869 billion loans 879 billion vs 869 billion
nestle 1986 net 179 billion swiss francs vs 175 billion div unchanged 145 francs
us agriculture secretary richard lyng warned the ec yesterday it would face serious retaliation if it enacted the tax
it is also distributing a new product called sapiens which is artificial intelligence computer language for use by major corporations
period ended january 31 shr 61 cts vs 64 cts shr diluted 60 cts vs 60 cts net 965 mln vs 870 mln loans 4487 billion vs 4807 billion deposits 6986 billion vs 6845 billion assets 8392 billion vs 7893 billion note shr after preferred dividends
american brands sees record first quarter results
mepc extends offer for oldham
us housing completions fell 02 pct in january
cyclops cyl says dixons appointees resign
india has signed a trade protocol to buy up to 15000 tonnes of asbestos fibre from zimbabwe in exchange for indian goods including jute bags and cars
i wish to emphasize that the growth in the volume of the external indebtedness of african countries reflects the full effect of the deflationary monetary and trade policies of the developed market economy countries mamman said
the issue is due on april 9 1997
and credit suisse and credit suisse first boston each issued swiss franc bonds with warrants for gold which have a similar character though they are aimed at a less professional market
the company said it has no agreements for and is not in talks regarding any acquisitions
houston based panhandle eastern earned 1335 mln in 1986 on revenues of 20 billion compared to net income of 1131 mln on sales of 25 billion in 1985
the sale comprised two 12000 to 14000 tonne cargoes plus or minus 10 pct for mar apr shipment a kaines trader said
the company said it acted inview of the proposed acquisition and because certain debt restrictions could block its ability to redeem the rights
this compared with a deficit of 13 billion in january 1986 the bank said
our failure to maintain the momentum will be at great cost to us all moore said
although there was inflation at least the economy worked a leading bank economist said
minister of mines patrick chitambala confirmed that zambia had ended copper shipments through south africa and announced that its state run mining company had closed down its liaison office in the white ruled republic
old fashion foods inc offi 3rd qtr feb 28 net
crossland savings fsb said it has acquired western savings and loand co with the assistance of the federal savings and loan insurance corp
he also said the the cabinet approved negotiations with foreign bank creditors to refinance 300 mln dlrs in banco de los trabajadores de venezuela btv debt with a re lending clause channeling back repayments through the state owned banco industrial de venezuela biv the btv refinancing carries an interest rate margin of 3 8 pct over eight years
the trustees had indicated that it intended to sell enough of the convertibles nil paid to enable it to take up the remainder
texon energy txon in talks on acquisition
genentech convertible bond upped to 150 mln dlrs
it also said that since the charged required an expensing of previously accrued liabilities the company will experience no resulting material change it its cash flow
economists cut austrian gdp growth forecast
a spokeswoman for exxon was unable to say whether secondary market trading in the notes had been affected or who would have legal responsibility for reimbursing defrauded investors
the placement will raise jardine strategics stake in dairy farm to 3975 pct from the current 353 pct
the administration asked congress to replace the us tariff schedule with a new system to bring it into line with international tariff categories us trade representative clayton yeutter said
paper will be issued by nec industries netherlands bv under the guarantee of nec corp
the pace of the probe picked up markedly in november after ivan boesky one of wall streets most successful stock speculators agreed to cooperate with government investigators and to pay a record 100 mln dlrs in penalties and illegal profits after being charged with insider trading
it was to have expired yesterday
the soviets argue that they are the best customer of the us and that they are entitled to the best price he said
qtly div 15 cts vs 12 cts in prior qtr payable june 25 record may 28
analysts said that saudi arabia with assistance from opec president rilwanu lukman was trying to avoid an emergency opec meeting for fear that it would give the appearance that the december pact is falling apart
citgo said its new posting for west texas intermediate and west texas sour is 19 dlrs a barrel
but the aide to lyng said it was doubtful that the department would offer a retroactive bonus to farmers who enrolled land in the 10 year conservation reserve last year
for chairman don johnston the payment was limited to twice his annual compensation
port and transport union representative paul rosenmuller described the court ruling as a victory for the union but added there was still a long way to go before the dispute that has hit the general cargo sector for the past eight weeks was resolved
james mccaughey former vice president of sales for kaiser has been named general manager for the plant which will be called napa pipe corp oregon steel said
thailand exported 75160 tonnes of rice in the week ended march 31 down from 88785 tonnes the previous week the commerce ministry said
no reason was given for the expected loss
guardian trustco sees modest 1987 outlook
rayrock to issue 24 mln dlrs of notes
diplomat electronics dpec to cut costs
the year earlier figure excluded a 1817000 dlr loss from discontinued operations
metal traders australasia ltd said a newly formed subsidiary the austmet ltd group has negotiated an exclusive long term contract with spains asturiana de zinc to market its zinc metal exports
the foreign currency purchased was used by the treasury to repay foreign debt and did not affect the banks foreign exchange reserves
raising us trade barriers would result in little or no reduction in the current account deficit
it also said lower revenues from the last half of 1986 are expected to continue during 1987 but a strong cash and working capital position will enable foremost to go on developing traditional and new markets
semi annual div from income of 73 cts vs 10 cent in prior period payable march 27 record february 27
we must see that the commitments made at punta del este on standstill and rollback are carried into practice the standstill and rollback of protection offers the global trading system a chance to hold and wind back protection during the negotiations which are expected to last up to four years he said
however he says that any major change in a basic commodity such as occurred in oil during the 1970s because of action by the opec cartel would have to be discounted in such a system
dealers wary over sterling intervention rumour
the american express spokesman said he could not comment on whether any officials of the firm were subpoenaed
the 1987 target is 405 mln
the administration has proposed cutting the fill rate from 75000 barrels of oil per day to 35000 bpd in fiscal year 1988 to save money
us officials however have said their monitoring of japanese semiconductor shipments to east asian countries and western europe showed no letup in the dumping and that the japanese home markets remained shut to american exports
this treatment requires that the costs associated with the transaction be expanded rather than capitalized as an intangible asset the company said
data general reported a loss of 18 mln dlrs or six cts a share for the second quarter ended march 29 1986
guinness plc guinl said it has completed the sale of subsidiaries martin ctn group plc and drummonds pharmacy group plc total consideration was 2326 mln stg subject to adjustment on final audit which is expected to add 12 mln stg guinness said
dealers said the announcement had to be viewed against the backdrop of intense pressure for lower uk interest rates which had built up over the past two weeks as a result of sterlings strength
shr 94 cts vs 102 dlrs net 7255000 vs 7856000 loans 288 billion vs 294 billion deposits 405 billion vs 373 billion assets 543 billion vs 514 billion
year to date it estimated domestic car output at 2334528 down from 2442221 in the same 1986 period
combustion said 3500000 shares will be sold in the us and the remainder overseas
the annual growth of australias m3 money supply rose by 112 pct in the year ended february compared with januarys 107 pct the reserve bank said
the bank of england said it had provided the money market with a further 168 mln stg assistance in the afternoon session
stanley simon was charged with extorting 50000 dlrs from a defense contractor in the first indictment in a corruption probe involving two congressmen a former aide to president reagan and other government officials
the bundesbank entered the open market in the late morning to buy dollars against yen in concert with the bank of france dealers said
shr 51 cts vs 36 cts net 5600000 vs 4000000 revs 1154 mln vs 912 mln nine mths shr 113 dlrs vs 61 cts net 107 mln vs 5800000 revs 3082 mln vs 2495 mlln note 1986 resutls restated on pro forma basis to reflect comparable treatment of budgets leveraged buyout on september 30 1986 and initial common stock offering on may 22 1987
the corporation said the spring branch fonderen and gulfway texas american banks will become separate banking offices of tab galleria
the us treasuries market here is swap driven said david jones vice president at goldman sachs and co international and head of its us government bond trading desk
venezuela will limit new loans to 50 pct of the interest and principal it repays on its 31 billion dlr foreign debt president jaime lusinchi told political leaders
morgan stanley and co inc was the placement agent
although only a minority interest is likely to be sold to the public the prospect of privatization at a time of increased competition is forcing air canada to pay more attention to finances analysts said
goodyear also paid him 37 mln dlrs for expenses and bought about 41 mln other shares for over two billion dlrs
president kjell nilsson announcing the 600 mln crown deal told a news conference boliden would now become a truly international concern with operations in brazil chile and other big minerals producing nations
coastal cgp seeks ok of transamerican plans
philip morris gained 1 3 4 to 88 1 4
dealers said this was clearly a move to appease us anger over the most recent west german interest rate rises
he said the pledge by major industrial nations in paris last month to cooperate to hold exchange rates around current ranges applied in both directions a dollar fall or a dollar rise
us oil demand as measured by products supplied rose 01 pct in the four weeks ended march 20 to 1616 mln barrels per day from 1615 mln in the same period a year ago the energy information administration eia said
the bank of japan is satisfied with the yen around its current range a senior central bank official told reporters
in other areas especially western buenos aires where rainfall was more than 200 mm parts of the sunflower maize and sorghum crops not yet harvested may have been damaged
reference new york grain freights 2 of march 6 brokers say the charterer of the saturn from us gulf to japan is reported to be nordstrom and thulin while the antigone is reported to have been arranged from tilbury to the black sea by soviet charterers
it added that proposals are due back by august three
argentine officials said they might halt debt payments last month if creditor banks did not agree to a new 215 billion dlr loan
computrac inc said it expects first quarter earnings to be down 50 to 60 pct from a year ago
panic also said he intends to seek board approval today to repurchase up to three mln icn common shares
australia exported 159000 tonnes of sugar to the soviet union in 1986
enterra corp en 4th qtr loss
us to sell 128 billion dlrs in bills
in february jp industries said it purchased clevites engine parts division
the duty free import of cotton yarn has been allowed to bring down prices and help the local ancillary industries compete effectively in the world market he said
in a newspaper advertisement the company said the offer which has been approved by the bpi board and is to be followed by a merger at the same price is conditioned on receipt of at least 1813742 shares
fed sets six day system repurchases
taiwans central bank will issue 12 billion taiwan dlrs worth of savings bonds on april 13 to help curb m 1b money supply which rose by a seasonally adjusted 4822 pct in the year to end february a bank spokesman told 
however he said not enough financial details are known about domes debt restructuring to compare the value of transcanadas proposed offer
the state procurement price for rape will rise 134 pct to 5500 zloties per quintal while wheat and rye will go up an average 182 pct to 3100 and 2400 zloties per quintal
yochum senior executive vice president for finance told the analysts we will consider buying back stock but there are no current plans for such a buyback
gaf corp said its board has authorized the repurchase from time to time of up to seven mln of its common shares or about 21 pct for cash in open market purchases or private transactions
shr eight cts vs 16 cts net 188000 vs 354000 revs 538000 vs 594000 year shr 31 cts vs 28 cts net 692000 vs 617000 revs 2640000 vs 906000 del e
gencorp sues general partners
pre interest profit 1321 mln vs 1246 mln
howard b
but that will be reduced early next year after a placement of 11 pct of the issued shares of hong kong telecommunications by both cable and wireless and the government
registered unemployment in february was 298 mln people or 215 pct of the workforce
maturities on the certificates will be between seven and 365 days
portugal may have purchased us corn
he said he had directed the authorities to issue permits to harvesting gangs cane growers and sugar industry trade unions to hold the necessary meetings in preparation for the commencement of harvest
washingtons deficit with taipei rose to a record 136 billion us dlrs last year from 102 billion in 1985
we are asking our shareholders to postpone any decision on whether to accept or reject the offer until the board finishes its evaluation reynolds said in a statement
shell canada raises crude oil posting 32 canadian cts bbl
iran foreign minister tells cuba of gulf situation
in the short term however the outlook is dull bird said as the world economy has not responded well to the opportunities offered by cheap oil
bastian said it may contact third parties regarding its intentions toward cosmo adding it intends to request a meeting with cosmo representatives to discuss its investment in cosmo stock
the central bank stepped into the market when the dollar fell towards 14900 yen but a trust bank aggressively sold dollars to hedge currency risks and the bank intervened again at 14900 they said
underwriters are dominion securities inc gordon capital corp merrill lynch canada inc mcleod young weir ltd wood gundy inc and brown baldwin nisker ltd
soviet sugar imports higher in oct nov
weve tried to take a bullish approach to the pound and were going to stay with that theres no reason to change smith barney analyst craig sloane said
yesterday prices on the new york world sugar market plummeted by 058 to 050 cent on heavy liquidation by speculators disenchanted over the markets lack of rallying power
it also said the court refused to require cyclops to provide cyacq with confidential information previously provided to dixons
holiday will redeem the harrahs bonds at 1045 pct of the principal amount plus accrued interest or 107931 dlrs per 1000 dlr face amount
ja parini rospatch chief executive responded on january eight by saying the investment was a vote in confidence in the company
home savings bank of brooklyn hmsbo 3rd qtr
a world recession is unlikely this year as fiscal and monetary policy in most industrialized countries is supporting the economy deutsche bank ag dbkgf management board joint spokesman alfred herrhausen said
the two carriers serve five point in common los angeles san diego san francico phoenix and tucsonm the agency said
both boards have approved the merger
ec annual inflation falls in may
in both cases moodys investors service inc declined to follow suit bond traders noted
eishiro saito chairman of the federation of economic organizations keidanren said the yens present rate is well above adequate levels
20
this month makulic imposed partial freezes on wages and prices which led to widespread strikes
staley referred to justice department recommendations to greene last month that restrictions on manufacturing information services and out of region long distance service be eliminated
data architects inc dai 2nd qtr may 31 net
the notes which are guaranteed by sumitomo bank ltd can be called at 101 1 2 from september 27 1989
bank of thailand plans its first bond issue
in 1986 it refined 20 mln gallons of used oil
the amnesty provision specially designed for farm workers was crucial to passage of the overall immigration bill
first nine months ended feb 28 shr 474 cents vs 652 net 6030 mln dlrs vs 8130 mln sales 652 billion vs 653 billion other income 4549 mln vs 1602 mln shrs 127 billion vs 103 billion
santa fe officials dont appear concerned that henley might launch a takeover
bachelor lake gold mines inc year loss
the move is subject to approval of the federal cartel office and supervisory boards of the companies involved
sunflowerseed 1986 87 production is still forecast at 23 to 26 mln tonnes 341 to 415 pct below the 1985 86 record of 41 mln tonnes
saudi arabia has lifted the condition it imposed on the sale of oil to brazil and will accept banco do brasils credit guarantees state oil company petrobras said in a statement
seipp said that because about half the groups exposure to problem nations was in dollars the bank had swapped into dollars individual provisions hitherto held primarily in marks
fees are 1 1 4 pct for selling and 5 8 pct for management and underwriting combined with a 1 8 pct praecipuum
murphy oil said it increased its crude oil posted prices by 50 cts a barrel effective june 17
dresser industries inc said it expects the joint ventures it has entered into and a gradual improvement in the energy market to allow it to regain profitability before the end of the current year
standard and poors corp said it has upgraded approximately two billion dlrs of securities for the williams cos
communications systems inc csii 4th qtr net
don hanes vice president for communications with the national council of farm cooperatives said 5600 cooperatives exist today down from 6700 five years ago
international game technology igam offering of 35 mln dlrs of senior notes due 1995 and 25 mln dlrs of convertible senior subordinated deberntures due 2002 through drexel burnham lambert inc
a face off was averted when turkey confined its research to territorrial waters
the effect of these sacrifices meant that market stability though restored to a good level was still under pressure al wattari said
napco international npco 4th qtr oper net
wiehn told a news conference deutsche babcock would double the absolute amount it distributes to shareholders
michigan general is offering to exchange 500 dlrs of increasing rate senior subordinated notes due march 1 1992 200 dlrs of non interest bearing delayed convertible senior subordinated notes due march 1 1997 and 2 shares of two dlr delayed convertible preferred stock with a liquidation value of 25 dlrs a share for each 1000 dlrs of the debentures
the total capacity of the burning tanks was over 10000 cubic metres but some had been empty when an explosion started todays fire he added
us business loans rise 377 mln dlrs
almost certainly we can look forward to slower growth in consumer borrowing if the equity shakeout continues he added
this summer is important cabinet affairs minister rashid al rashid said last sunday the cabinet has ratified recommendations to rationalise state spending in favour of productive sectors and reactivate the economy
harkin said a legitimate concern about his bill would be the impact of higher prices on livestock producers
1985 yr figures excludes 537950 dlrs or 42 cts per share representing insurance proceeds from a fire that occurrred in 1983
statoil has been offered the operatorship on a new block in the relatively unexplored moere south exploration area south of haltenbanken with a s norske shell texas eastern and petroleo brasileiro sa petrobras also offered stakes in the block
the maturities will be 1990 1992 and 1994
perus centromin says no copper force majeure
qtly div 165 cts vs 165 cts pay april 27 record april 20
the loan is still only 99 pct subscribed and the loan books will be kept open for several more weeks to round up the final 100 mln dlrs and the approximately 60 banks that have so far refused to join the deal
but with governments unable or unwilling to play a larger role bankers see no alternative to the advisory committee
nakasone intervened only two days before a scheduled meeting of the reagan administrations economic policy council to consider whether japan is reneging on its microchip pact with the us that pact agreed last year after months of negotiations calls on japan to stop selling cut price chips in world markets and to raise its imports of us semiconductors
the department said these falls were only partly offset by a rise in prices of home produced food manufacturing materials
he declined to comment on the allegations in the lawsuit
mexico has temporarily suspended overseas coffee sales due to falling prices triggered by the failure of the international coffee organisation ico meeting to agree a quota system at its latest meeting the official notimex news agency said
mobil mob adds natural gas reserves in 1986
storehouse reports higher profits in 1986 87
the proposals are to be voted on at the march 31 annual meeting
nakasone also said that a joint japan poland economic committee would discuss the proposed conclusion of an investment protection agreement later this year the sources said
nerco ner to acquire interest in gas filed
the us trade gap narrowed to 136 billion dlrs in march from 151 billion in february and is expected to show continued improvement in april in volume if not in real terms
usage would be markedly more in 1989 and 1990 when grain usage under a certificate program was estimated to exceed the zero certificate case by 15 to 19 pct
euratom ecu bond marks rome treaty anniversary
wickes also said it will call the debentures on dec 1 1987 assuming market conditions remain essentially the same
aluminum exports meanwhile decreased nine pct in the same period to 1511 tonnes from 1647 tonnes
brazil seeks to reassure banks on debt suspension
that is 53 basis points more than the yield of comparable treasury securities
combustion engineering csp unit in buyout
yugoslavia to tender for 100000 tonnes wheat
the qtr and year 1986 includes charges of 1200000 and 5200000 respectively for restructuring costs and operating losses which were charged against the previously provided accruals for restructuring costs
moodys affirmed eastern airs b 3 senior secured debt and caa subordinated debt and junior preferred stock
nows a good time said joe levy of international data corp
david t
period ended jan 31 shr loss three cts vs loss two cts net loss 183500 vs loss 163800 sales 608800 vs 1156100 year shr loss 16 cts vs loss 21 cts net loss 1128600 vs loss 1081600 sales 3811200 vs 6968700
signs that the economy has just about weathered the worst are increasing
japans bilateral trade surplus jumped from 12 billion dlrs in 1980 to 62 billion dlrs last year
the average price was 97480
three institutes predicted two pct economic growth in 1987 with exports falling by 05 pct
as in past years the qualified opinion continues to list other uncertainties associated with the accident which damaged tmi 2 the recovery of cleanup costs and any payments for damages that might exceed available insurance proceeds
permian said the present value of estimated future net revenues discounted at 10 pct is 1653 mln dlrs compared with 3743 mln dlrs
uk money market given 40 mln stg late help
on march 30 bass said it had agreed to sell its pontins uk holiday camps to a newly formed private company pontins ltd for some 575 mln stg
hungary is to devalue the forint by an average of eight pct against western currencies the official news agency mti said
although these had made minor contribution to profits the real benefits would come in 1988 and beyond
holmes said that in the upstream us sector the third quarter of 1986 had been the worst of all
shr 20 cts vs 22 cts net 1948000 vs 2124000 sales 409 mln vs 410 mln six mths shr 40 cts vs 50 cts net 3864000 vs 4835000 sales 817 mln vs 799 mln note 1986 results include gain on sale of land of 571000 dlrs or six cts a share 1986 results include loss from discontinued operations of 403000 dlrs or four cts a share in the quarter and 598000 dlrs or six cts a share in the six months
however the new report went largely unnoticed by financial markets since such a downward revision in the deficit is a monthly occurrence the washington post said by law the department must first publish what a top commerce official agreed are misleading trade figures and then wait 48 hours before putting out the more accurate ones no one was immediately available at the commerce department for comment on the washington post report
american motors amo weighs takeover proposal
ec farm ministers who would have to approve such a tax are split on the issue and are expected to decide it at a marathon meeting on ec farm prices beginning in luxembourg on june 15
unemployment fell in march to 36510 or 17 pct of the workforce compared with 39700 19 pct in february and 38839 22 pct in march 1986 the labour directorate said
sellers quoted a nominal offering level of 320 dlrs per tonne c and f north german ports
falcon cable systems fal 4th qtr loss
pragma bio tech inc a clinical testing company said it has started performing comparative studies on differnet varieties of nitroglycerin for use in the treatment of angina pectoris episodes
a copper industry spokesman suggested that some assurance of permanence in the new clearing system would remove industry fears of uncertainty resulting from an endless process of review and change the press release said
some economic discomfort must be transferred from the united states to our friends trading partners and allies
trade department officials said the improvement in britains current account contrasted with most private forecasts and they attributed much of the strength to imports rising less quickly in february than might otherwise have been expected
first financial management corp said it acquired confidata corp a unit of north ridge bank paying 500000 dlrs in cash and pledging a guarantee on a 500000 dlr confidata note held by north ridge
photographic sciences corp pscx 4th qtr
moodys confirms public service electric peg 
unocal ucl sells seven and 10 year notes
malaysia said the success of talks opening today on a new international natural rubber agreement inra depends on how flexible consumer countries are
southmark corp said shareholders will be issued as a special dividend rights to acquire 22 shares of american realty trust arb for each 100 shares of southmark owned
the farm sector which is protected by import tariffs and quotas propped up by subsidies and price supports and sheltered by the tax system has ample room for change they said
quantity 1988 1989 1990 1991 first 350 tons 6000 4500 3000 1500 over 350 to 700 5750 4313 2875 1438 over 700 to 1000 5500 4125 2750 1375 over 1000 to 1500 5000 3750 2500 1250 over 1500 to 3000 4500 3375 2250 1125 over 3000 to 6000 3500 2625 1750 0875 over 6000 to 10000 2250 1688 1125 0563 over 10000 to 20000 0500 0375 0250 0125 over 20000 tons nil nil nil nil
the companys implied senior debt rating is b
this gave hawaiian telephone a strengthened capital structure and cash flow in both regulated and non regulated businesses
shr loss 72 cts vs loss 157 dlr net loss 1526359 vs loss 3315834 revs 8032798 vs 7276517
crude oil netback values in complex refineries rose sharply in europe and firmed in the us last friday from the previous week but fell sharply in singapore according to calculations by pipeline
the offer is conditioned upon at least 80 pct of the outstanding shares and at least 80 pct of the voting securities being tendered before expiration of the offer
despite the anticipated reduction to quarterly earnings security pacific said it still expects to report first quarter earnings higher than the 88 mln dlrs or 111 dlrs per share reported for the first quarter of 1986
todays price was set at 4776 francs per 100 kilos and tuesdays at 4790
opec wants 18 dlr oil price oapec official
six industrialised nations agreed in paris last month that newly industrialising countries such as south korea and taiwan should allow their currencies to appreciate
economic spotlight mitsubishi heavy fights back
clark equipment also said the investor group agreed to enter into a standstill agreement which prohibits members of the group from purchasing shares of voting securities of clark for 10 years
the finance ministry has asked japanese commercial banks to moderate their dollar sales bank dealers said
it is based on output data for production industry and partial information for the rest of the economy
the turnaround in official transactions to a 152 billion inflow from a 555 mln outflow in the third quarter against a 520 mln inflow a year earlier was largely on account of government foreign currency borrowings it said
in a press release the iwcc said that at the latest meeting between the copper industry and the lme to discuss the new clearing house system industry expressed grave concern about latest proposals made by at least one lme member for a cash cleared market to replace the planned clearing system which will retain the prompt date settlement basis
allied signal announced in december that it planned to sell the linotype unit as well as six other businesses in its electronics and instrumentation segment
the firm employs 1100 workers toshin steel with 1700 workers has given no forecast for the year ending march 31
the market was assigned all of the 3500 billion lire of three month bills on offer after requesting a total of 4695 billion
calgary based domes restructuring plan would allow creditors to convert debt to common shares under a formula yet to be negotiated
canadian foreign reserve holdings rose 123 billion us dlrs in march to 777 billion dlrs the finance department said
sri lanka today ordered its armed forces to defend the islands territorial waters as india prepared to send a flotilla with relief supplies that colombo says it does not want for the tamils in the jaffna peninsula
march us purchasing managers index up at 539
gros said the decision which he called a standstill arrangement will be communicated to brazils 700 bank creditors by telex tomorrow
the company said shareholders at the may 14 annual meeting will be asked to approve an increase in authorized common shares to 100 mln from 25 mln as well as a limitation of directors liability and the establishment of a classified board
wolter had been senior vice president finance and chief financial officer of rapid american corps mccrory corp unit
gatt round may stop growing trade problems us 
data on 1986 capital flows between west germany and the netherlands have not yet been released but in 1985 they accounted for only 10 pct of total trade flows between the two countries put at 110 billion guilders for 1986 by the dutch german chamber of commerce earlier this month
national bank economic data for 1986 shows that yugoslavias trade deficit grew the inflation rate rose wages were sharply higher the money supply expanded and the value of the dinar fell
for the year ended july 31 1986 gelco reported pre tax operating earnings of 148 mln dlrs or 108 dlrs a share
the increase in shares outstanding will broaden the base of stock ownership in the company and the dividend increase reflects the directors positive outlook for the future prospects of pier 1 imports said clark johnson president and chief executive officer
the iranian spokesman was quoted by tehran radio as saying the us was trying to build up its military presence in the region
by drawing attention to us in our discussions it means that others may be a little reluctant to come forward he said
water authority officials said the restrictions caused by high water levels include speed limits and directives to keep to the middle of the river to prevent damage to the river banks
out of this traders in france received 34500 tonnes in the uk 37800 in west germany 20000 in belgium 18500 in spain 5800 and in denmark 1750 tonnes
special bonus four cents vs nil
robert campeau chairman of allied said this is a terrific start to our disposition program which is proceeding well ahead of schedule
it said the agreement covers 76 stores in 21 states including inventory and fixtures
the aid donors and commercial bank creditors would then be asked to finance any gap on a shared basis
shr three cts vs three cts net 9820000 vs 91898 revs 2843520 vs 2372457 year shr 13 cts vs 21 cts net 401179 vs 681374 revs 105 mln vs 9699535
singapore bank credit rises in january
swire pacific ltd swpchkg year 1986
periods ended september 30 oper shr 24 cts vs six cts oper net 1297881 vs 312295 sales 605 mln vs 522 mln first half oper shr 39 cts vs 13 cts oper net 2099679 vs 711530 sales 1181 mln vs 1037 mln note 1986 operating net excludes losses from discontinued operations of 154661 dlrs or three cts a share in quarter and 409476 dlrs or seven cts a share in half
atlantis group inc said it bought 100000 shares of charter crellin inc common stock or 63 pct of the total outstanding and may seek control in a negotiated transaction
that is not a seasonal thing it is secular he said
dixons group plc dxnsl said its tender offer for all of the common shares in cyclops corp of the us expired at midnight yesterday and that it had accepted approximately 23 mln shares in the company at 9025 dlrs each
the group includes senior management of service america but no officers of allegheny beverage the company said
the shareholders said they were told that continental materials directors had no interest in selling the company
an investment will have to be made said archie dunham executive vice president of petroleum products at conoco an operating subsidiary of dupont corp dd in order to upgrade refinery operations
nord resources corp nrd 4th qtr net
with other components of m 2 such as money market deposit accounts and small time deposits also falling the stage is set for falls in the broader aggregates too economists say
canadian utilities ltd to redeem preferred series
few trains were running and some early morning flights by sabena belgians national airline were cancelled
the cartagena group has called for the debt trade link to be recognized before but has not made detailed proposals
cooper said cross channel ferries were normally perfectly stable but had huge wide deck areas above the water level
the acting governor of saudi arabias state owned oil company petromin jamal hassan jawa has retired at his own request oil industry sources said
rep
bnl said last week it had appointed another member of the board to take on the role of vice president temporarily
feds heller urges broad reform to aid banking
a rio port spokesman said the halt would cause daily losses of about 100000 us dlrs
though the current semi annual council meeting is not the last chance for delegates to cement buffer stock rules producers are keen to get the wheels of the market stabilizing mechanism turning to stem the decline in world prices delegates said
southern home savings bank shsb year net
the reserves hit a record 53 billion us dlrs this week
lukman who was speaking during talks with swedish trade officials said the stable price depended upon output restraint by both opec and non opec oil producers swedish government officials said
current law requires that the united states vote against such loans but carries no reprisals if they are ultimately approved by the banks
argentina does not discard the use of a moratorium if the negotiations do not produce a result that guarantees the growth of the country he added
commission members would be appointed by the sec
commodity prices are already considered by the fed in the making of monetary policy
the growers and traders also said that under new buffer stock rules malaysia can continue to benefit even if it is not a member of the pact as the buffer stock manager is also allowed to buy from non members for the stockpile
keystone shareholders will receive 45 dlrs per keystone share payable in first of america convertible preferred stock having a dividend rate of nine pct
dealers said the market was surprised by the chancellors disclosure of sterling target rates around 290 marks and 160 dlrs and nervous over the implications for domestic interest rates further reducing the propects for a near term cut in uk bank base rates
us m 1 money supply fell two billion dlrs to a seasonally adjusted 7389 billion dlrs in the march 30 week the federal reserve said
big banks say it is unfair that small creditors continue to receive interest on old debt even if they do not contribute to new loans
saudi arabia will not agree mad oil price rise
electronic tele communications 3rd qtr loss
boeing co said the hart scott rodino waiting period required in connection with its pending tender offer for argosystems inc argio expired at midnight june 18
apr jun shipments traded fob east coast at 123 stg per tonne
mohammed said delegates will have a much clearer indication of prospects for an accord after details of the rules are elaborated by erbynn and after producers and consumers meet separately later today to examine the scheme
the sale expected to close by mid april is subject to certain conditions including board approval at both companies
neoax noax buys rexnord rex unit
there were six grain ships loading and six ships were waiting to load at portland according to the portland merchants exchange
it is my hope that delegations will go back home and try to ratify the new agreement he added
officials of the cartagena group of 11 debtor nations met here this week to draw up new proposals in reaction to what they called a deteriorating world panorama and citicorps decision to create reserves against third world loans
transcapital tfc unit closing 12 offices
dunn had sales last year of about 65 mln dlrs
all buyers of us reserves paid a median price of 645 dlrs a barrel of oil during the fourth quarter of 1986 for acquisitions up from 533 dlrs in the third quarter and five dlrs in the second quarter according to the firms research
qtly div 10 cts vs 10 cts prior pay april six record march 16
it said funds will be used for general corporate purposes
the soviet union was the largest single importer with 133265 tonnes followed by saudi arabia with 53800 tonnes
japan was ready to use diplomacy to help maintain the security of the gulf prime minister yasuhiro nakasone said
shr 36 cts vs 66 cts net 4775000 vs 9342000 revs 1055 mln vs 1300 mln
the fall in pre tax profit corresponded to the losses on stocks in the oil and gas sector at the beginning of 1986
the ghana cocoa board said it purchased 456 tonnes of cocoa in the 23rd week ended march 12 of the 1986 87 main crop season compared with 684 tonnes the previous week and 784 tonnes in the 23rd week ended march 20 of the 1985 86 season
asked if brazil would have continued making payments of monthly interest to its foreign commercial bank lenders if official lending agencies had provided more funds he replied yes because our country did not receive financing from these agencies asked how long the payment suspension would last funaro said it all depends on what kind of financing we are going to receive from the other side brazil with foreign debt totaling 108 billion dlrs stunned the banking community last week by suspending payments on some 68 billion dlrs owed to private banks
trade sources said the ruling though effective immediately was subject to appeal and would have to be confirmed in further proceedings
euroyen bonds showed a firmer tone led by some professional short covering from tokyo
the committee had originally been due to meet in vienna this week
we are confident that the banks are going to be reasonable nogales said
has been named to succeed robert l
athlone industries inc ath sets qtly dividend
even so some economists said that the manufacturing gains have resulted from an improving trade outlook
it is the companys first dividend since it became a public entity last october
details are still to be worked out but investors could be offered a choice of paying immediately for shares or buying them on a part paid basis or buying convertible bonds or bonds with warrants giving a right to buy shares at a later date he said
the collapse of international coffee organization ico talks on export quotas yesterday removes the immediate need to reinstate us legislation allowing the customs service to monitor coffee imports analysts here said
under an agreement with the us and australia japan has been increasing imports by 9000 tonnes a year from march 31 1985 to reach a projected 177000 tonnes in the year to march 31 1988
monsod said any pricing agreement on rescheduling 36 billion dlrs of the philippines total foreign debt of 278 billion dlrs would ignore a looming 14 billion dlr net resource transfer in the same period
the soviet trade deficit with the west almost quadrupled last year reaching 272 billion roubles compared with 713 mln in 1985 official figures showed
in richmond va james river said closing is expected by the end of april subject to approval by both boards and on the reaching of satisfactory labor agreements
merrill lynch is agent for the revolving facility which was lead managed by swiss bank corporation san francisco branch the facility will allow the borrower to issue direct unsecured advances in us dlrs with maturities of up to six months
1985 4th qtr and year oper net excludes a gain of 256 mln dlrs or 156 dlr per share and 294 mln dlrs or 179 dlrs per share for settlement of claims and utilization of tax loss carryforward
on the proposed omnibus investment code he said he was opposed to a clause which would allow the unrestricted repatriation abroad of investments made during the first two years after the imposition of the code
oper net loss 411000 vs profit 875000 sales 697 mln vs 705 mln year oper net profit 6258000 vs profit 4785000 sales 2995 mln vs 2972 mln note company made initial public offering in june 1986
an international monetary fund imf team is due here over the same period a world bank offical said
shandwick buys los angeles pr company
the nspa charged that argentinas differential export taxes implicitly subsidize soyproduct exports in competition with the us our only option is some sort of retaliation to restrict argentine access to our market said one us source
amerihealth inc ahth 4th qtr loss
daiwa the us unit of daiwa securities co ltd of japan ran the books for a march 11 offering of 200 mln dlrs of 10 year notes of rockwell international corp rok underwriters noted
the yens movement in the past several weeks is within the range agreed in paris in febraury he said
the grain and oilseed importers association acico opened legal proceedings to stop epac participating in the public tenders
us defence secretary caspar weinberger said monday that us warships destroyed the oil platform in the southern gulf in response to a missile strike on the american registered kuwaiti tanker sea isle city in kuwaiti waters on friday
domestic business was also declining and orders for west german engineering goods have been falling since july 1986 dieter said
s p may downgrade mepc plcs eurobonds
dealers said that the banks strategy succeeded in stemming pressure for a further rate reduction only briefly as the market yesterday recovered all the ground it lost on monday immediately after the announcement
theres no reason to get worries about inflationary pressures because theyre very subdued unit wage cost rises were better than expected just one pct higher in the year to april and it was these costs rather than average earnings which were potentially inflationary he added
bankers said the repayment amounts essentially confirmed their private estimates and could be comfortably met by the monetary authorities
the company said however that the sale will generate substantial cash flow to pay off bank debt and improve working capital eliminate unmanageable effects on profits of the price instability of the egg business and allow it to concentrate on its plastics packaging business
interest expense strengthen the companys financial condition and increase operating flexibility it said in a release
yeutter says stock market overreacted to japan trade dispute
the yield on the bills for sales to banks and securities houses from money houses will be 39496 pct against the 39375 pct discount rate for two month commercial bills and the 446 37 pct yield today on two month certificates of deposit
the bank of england said it had invited an early round of bill offers from the discount houses after forecasting a shortage of around 12 billion stg in the money market today
the transaction involves one quarter of the company owned bojangles restaurants and is in accordance with its restructuring program announced in october 1986
standard oil raises alaska north slope by 150 dlrs effective april one
the company said the deal is expected to be closed in mid august
hertz corp a unit of ual inc filed with the securities and exchange commission for a shelf offering of up to 500 mln dlrs of senior debt securities on terms to be set at the time of sale
the order was issued as part of a settlement of ftc charges that coopers merger with gardner denver co would lessen competion and increase concentration in the gas compressor and industrial air tool industries the ftc said
atcor atcoo seeks buyers for consumer business
struthers added that it has filed with the securities and exchange commission for an extension to file its annual report on form 10 k as a result of delays caused by the restructuring
canadian imports rose 32 per cent to 26 million gallons japan 99 per cent to 12 million gallons and britain 202 per cent to 962360 gallons
the st lawrence seaway between lake ontario and montreal is still scheduled to open for the shipping season on march 31 a seaway official said
he did not specify for how long the suspension of payments would last
new dutch bullet state loan at 6 1 4 pct due 1995
laidlaw transportation ldmfa sees better year
the trilateral commission was set up in 1973 by david rockefeller former head of chase manhattan bank and others to promote closer cooperation among the three regions
the minister was not referring to the us trade data to be released in washington later today
i think they will resist it said elliott schlang analyst at prescott ball and turben inc
officials said the hectarage planted to palay that has been hit by the drought accounted for only one pct of national total thus the damage is considered negligible
the bank of japan bought a modest amount of dollars at around 14510 yen just after the market here opened dealers said
i have mixed feelings said analyst dennis telzrow of eppler geurin and turner a dallas brokerage
consul said the debt was taken on to finance expansion
bell resources ltd said it has executed an underwriting agreement with equiticorp tasman ltd to acquire 576 mln ordinary shares in the broken hill pty co ltd brkns for 540 mln dlrs
the spokesman said het comite finally selected the company for the test case from among the 80 lodged because the bill the firm received from the commodity board for payment of the levy contained significant currency distortions and involved grain from a wide variety of origins the name of the company is not being made public
the intervention rate has stood at eight pct since it was raised from 7 1 4 pct on january 2 as the french franc came under pressure ahead of the ems realignment on january 11
bank of canada governor john crow said he expects the canadian economy will grow moderately in the coming year despite the near flat growth in the final quarter of 1986
hillsdown holdings plc hldnl said its christie tyler ltd unit would buy the european bedding making interests of simmons co usa owned by gulf and western industries inc usa gw for 23 mln dlrs
williams industries inc wmsi 2nd qtr net
but two top german officials state secretaries otto schlecht and hans tietmeyer told reporters bonn saw no need at the moment for action to bolster the ecs biggest economy
we will use that advantage responsibly he said
federal industries paper issue just in canada
goodyear tire and rubber co said it expects to sell its celeron corp oil and gas subsidiary for about two billion dlrs in about two months
the current international rubber pact expires on october 22
south koreas wholesale price index base 1980 rose 02 pct to 1251 in march after a 02 pct rise in february but was 06 pct lower than its march 1986 level the bank of korea said
block expects some expansion this tax season of its electronic filing system which directly feeds into the irs and can speed up the refund process
this would help agriculture because some its inefficient non productive segments would stop operating he said
aker verdal has been awarded a contract for the engineering purchasing and construction of the steel jacket for the wellhead platform also to be completed in 1989 statoil said
white sugar denatured and non denatured 4970 versus 5005 previously
allegheny said it and the sunter concerns intend to vigorously defend the complaints charges
us envoy says manila will pay its debts
however the agency said first interstate has high liquidity and is less vulnerable to latin american credits than its peers
union pacific unp closes venezuelan partnership
canada development said the purchasers do not plan to acquire the remaining publicly held shares
their secretaries said they were out of their offices
the statistics in it about pork do not reflect the hog of today which is about 50 pct leaner than it was 20 or 30 years ago thanks to genetic improvements and better feeding practices kline said
the sharp fall in international coffee prices will not affect colombias external credit situation finance minister cesar gaviria told 
the proceeds of the sale would be used to reduce borrowings and develop activities in the uk hepworth shares eased 05p on the announcement to 2275p
bishop also said it has opened a new sales and service office in irvine calif
the official 1987 88 estimate is 29 pct
other prime rates range from 1825 to 185 pct with the majority on 1825
pentland said 4500000 shares of rebbok will be offered in the us by a syndicate led by kidder peabody and co inc and 1500000 shares will be offered outside the us by an international syndicate led by kidder
daiwa won its first us corporate debt offering in september 1986 and followed that with the march 11 competitive win
vms mortgage lp said it declared a regular monthly cash distribution of nine cts a depositary unit for the month of march payable may 14 record april one
south korea to maintain trade surplus 3 5 years
santos alvite added ecuador is finalizing details for a program under which venezuela would temporarily lend the country 50000 bpd for export
hackmann said the stocks report was positive for the long term but we still have a long way to go to bring stocks down to where we could start rebuilding prices frazier also cautioned that the soybean acreage report could prompt farmers to change their plans and plant more soybeans
the idea of rating in japan has been woven into prerequisites for an issuer company to satisfy financial criteria jcras watanabe said
us congressman introduces reagan sugar bill
many consumers want to try the rubber before they carry on buying he said
first city bancorp said two subsidiaries sold 54 mln dlrs of energy related loans and loan participations to prudential bache energy growth fund lp g one the loans were made by first city national bank of houston and first city energy finance co to energy related entites that have had difficulty complying with first citys original loan provisions the company said
the company said under the agreement prex holders would receive new medco shares representing a pro rata share of the 9159552 medco shares now owned by porex plus a pro rata shares of the cash value of other porex assets which is estimated at 60 mln dlrs subject to adjustment
manila is seeking a spread of 5 8 percentage points over the london interbank offered rates libor monsod said right now we are saying to the banks lets share the financing burden ongpin said last month the countrys consultative group of multilateral and bilateral aid donors had endorsed a growth facility to bridge the funding gap
with 900 mln dlrs of proceeds available to reduce debt the financial profile should also improve
1985 includes loss from foreign affiliates of 173000 dlrs
the banks can on lend these to generate profit but generally banks are awash with liquidity since they are unwilling to risk incurring fresh non performing loans
distillate fuel stocks held in primary storage were unchanged in the week ended april three at 1069 mln barrels the energy information administration eia said
but there are potentials for all types of people to use it
all requests for export licences for free market feed wheat and barley were rejected they said
one convertible dealer said were waiting to see the result of todays court hearing texaco is applying today in the texas courts for relief from having to post the court bond
japan told the general agreement on tariffs and trade that south koreas five year import diversification plan violated the spirit of the world trade governing body a foreign ministry spokesman said
shr loss 21 cts vs loss 28 cts net loss 817000 vs loss 1058000 revs 5627000 vs 7397000 year shr loss 75 cts vs loss 136 dlrs net loss 2872000 vs loss 5200000 revs 233 mln vs 211 mln note 1985 net includes 1255000 adjustment in inventory valuations and 486000 in cost reduction expenses
banking sources said the new government securities market scheduled to have been launched on march 2 had been delayed pending legislative approval of these bills
city resources ltd said it has agreed in principle to sell a 50 pct interest in a group of mineral properties in the southwest pacific to a buyer it did not name for 30 mln canadian dlrs
coffee futures dipped further today and closed below 1 dlr a pound for the first time in six years
istat said exports totaled 23190 billion lire in the fourth quarter down 41 pct from the comparable 1985 quarter and down 67 pct from the third quarter in 1986
a morgan switzerland official said that on the basis of the maturity of four years and three months the pricing involved an implicit volatility of gold of 245 pct before the warrants were in the money compared with implicit volatility of 30 pct for the indosuez gold warrants and 26 pct for the citibank gold warrants recent issued with maturities of 18 and 24 months
the bank is also looking into joint ventures with manufacturing and trading companies segal added
gpu gpu declares first dividend since 1979
atlantis group tells sec it seeks negotiated purchase of charter crellin
at the time taft said the transaction would result in an after tax charge of 45 to 50 mln dlrs
fed sets one billion dlr customer repo
reunion 1 2 ports portugal 10000 mt bulk sugar about 20 dlrs 2000 750 1 10 5 a c french charterer
some merchants fear that a large tonnage will be delivered against the april futures contract between now and the end of the month and possibly disrupt the physical market
a takeover by amoco or imperial would also give a foreign oil company a dominant position in canadas oil industry
ended sept 30 shr 22 cts vs 18 cts net 4127000 vs 3177000 sales 702 mln vs 486 mln note share adjusted for july 1987 two for one stock split
the federal home loan mortgage corp adjusted the rates on its short term discount notes as follows maturity rate old rate maturity 32 days 600 pct 610 pct 1 day
sosnoff made the offer directly to shareholders in a newspaper advertisement through a company he formed called mts acquisition corp
careplus said its board has tentatively determined that its stock would be exchanged for common stock of the new corporation at the rate of seven for one
cattle slaughter is guesstimated at about 128000 to 131000 head versus 129000 week ago and 127000 a year ago
apple bank for savings applo 3rd qtr net
it is guaranteed by the state of victoria
he said international organisations such as the world bank pledged an unchanged 168 billion dlrs in fresh funds to indonesia and this years overall total up from last years 26 billion reflected higher pledges from donor countries
consumer prices rose 03 pct in february after rises of one pct in january and 05 pct in february 1985
shr 55 cts vs na net 2512000 vs 773000 year net 7123000 vs 3098000 assets 4177 mln vs 2511 mln deposits 3294 mln vs 2301 mln loans net 3661 mln vs 2052 mln note some per shr amounts not available as company converted to public ownership in july 1986
the company made 419 billion yen group net profit in the year ended november 31 1986 down 426 pct from a year earlier on sales of 1325 billion down 67 pct
they said the cost to the economy had been too great
specifically the probe is examining the acquisition and subsequent sale of more than five pct of the stock of certain unspecified companies he said
eli lilly and co said its board approved a plan to buy up to 23 mln shares of its common stock to offset dilution from conversion of its 10 year notes issued in connection with the acquisition of hybritech inc in march 1986
supradur cos inc supd year net
yugoslav retail prices in march rose 70 pct from february to stand 932 pct higher than in march 1986 federal statistics office fso figures show
he also urging filling the strategic petroleum reserve at a faster rate
missouri based interco inc is establishing a 50 mln dlr five year revolving credit facility swiss bank corp international ltd said as arranger
unicoa to merge into its united insurance unit
mcclain industries inc mccl 1st qtr dec 31 net
china daily says vermin eat 7 12 pct grain stocks
this spring norways state owned oil company statoil exercised an option in the heidrun field exploration license that if approved by the government would allow it to relieve conoco as heidrun operator a move sharply criticised by conoco
the company said the property is estimated to contain over 500000 troy ounces of gold and the initial mining project covers only seven of 192 claims with drill indicated reserves of 293000 short tons grading 088 troy ounce of gold per ton
proceeds from the offering will be used to build and equip enlarged broadcast and order processing facilities to redeem some of the companys 11 3 4 pct senior notes due oct 15 1996 and for general corporate purposes the company said
new montreal newspaper folds
it said the rights are exercisable if a group acquires 20 pct or more of its common stock or announces a tender offer for 30 pct or more of its shares
out of this traders in the uk received 37800 tonnes in france 34500 in west germany 20000 in belgium 18500 in spain 5800 and in denmark 1750 tonnes it added
to some however the need for added capital is puzzling
shr loss 28 cts vs loss 29 cts net loss 584100 vs loss 459500 sales 1339800 vs 16390800 year shr loss 64 cts vs loss 79 cts net loss 1314700 vs loss 1237100 sales 7249600 vs 6311500
dor val mines ltd finds high grade order
the banking center tbcxo 3rd qtr net
inter city gas corp 4th qtr shr 36 cts vs 68 cts
some 40 producing and consuming countries are taking part in the two week meeting
however he warned future financial pressure on the industry will be severe
kahn said he is considering seeking representation on the trans lux board and starting a proxy contest in connection with the upcoming annual meeting
shr nil vs loss two cts net profit 2900 vs loss 43500 revs 1660300 vs 950000 12 mths shr loss 30 cts vs loss 37 cts net loss 578900 vs loss 713300 revs 5112100 vs 3659600
currency in circulation in february fell to 743 billion ringgit from 832 billion a month earlier but was up from 718 billion in february last year
the launch of the program is still subject to final approval of the french authorities
the figure which excludes construction and public works put the february index base 1980 at 102 after 99 in january
period ended august 31
under terms of the merger agreement chatsworth said lotoquik shareholders would own a majority of the surviving company
shr 210 dlrs vs 172 dlrs shr diluted 198 dlrs vs 172 dlrs net 2228000 vs 1730000
loans and leases increased 34 pct to 195 billion dlrs and deposits grew 14 pct to 196 billion dlrs
in january taiwan reduced import tariffs of up to 50 pct on some 1700 foreign products
shr 95 cts vs 36 cts net 9100000 vs 3300000 revs 1437 mln vs 1324 mln avg shrs 9884000 vs 9780000 nine mths shr 277 dlrs vs 149 dlrs net 26600000 vs 19000000 revs 4018 mln vs 3852 mln avg shrs 9871000 vs 12565000 note 1986 earnings include a loss from discontinued operations of 1000000 dlrs or 10 cts a share in the quarter and a gain of 2500000 dlrs or 19 cts a share for the nine months
president reagan said during a nationally televised news conference that the rising us reliance on foreign oil is a problem that the administration is studying
he said usda has grain left in only about 250 barges and that under provisions of the program these all have to be emptied by the end of march
masstor msco in pact with natl westminster
this compared with an 897 mln dlr shortfall a year earlier
they said the world bank had insisted the two banks appoint independent auditors and draft revised charters
zimbabwe bans polypropylene bags for oilseeds
he estimated supply in the latter month will have fallen 100000 to 150000 tonnes based in part on current low inventories of aluminium in japan and on the london metal exchange
novell inc novl 1st qtr jan 31 net
we hope that the dispute on this specific issue wont have an adverse effect on our overall relationship with the united states a ministry of international trade and industry miti official said
us personal income rose 02 pct in may
shr loss 132 dlrs vs profit two cts net loss 5666000 vs profit 84000 revs 120 mln vs 217 mln nine mths shr loss 187 dlrs vs loss 71 cts net loss 8030000 vs loss 3062000 revs 409 mln vs 530 mln note includes losses from discontinued operations of 190000 dlrs vs loss 185000 dlrs in 3rd qtr and 731000 dlrs loss vs 815000 dlrs loss in nine mths
c and w offered role in new japan telecom company
lamson and sessions co said it has decided to discontinue operations of youngstown steel door a maker of components and equipment for railroad freight cars
exxon xon oil and gas production rose in 1986
honeywell inc hon 1st qtr oper net
martin of phillips and drew said the dampening effect of a sterling rise on consumer price inflation would not materialise for at least nine months while its hampering impact on manufactured exports would show almost immediately
the exchange will now submit the contract to the commodity futures trading commission according to the spokeswoman
weizsaecker is expected to announce the figure in a major speech later today at the bolivian congress the officials said
having the philadelphia exchange open during the asia pacific market day would open new hedging opportunities set a truer level for over the counter option trading increase arbitraging opportunities and give corporations and treasuries access to a currency option market of much greater depth and liquidity with the security of a clearing house he said
in early trading it had fallen to 2430 dlrs because of rumours yesterday that the firm planned a rights issue
fitzwater said reagans strong feelings against a tax hike included opposition to an oil import fee
many called meetings to assess the current market situation
the market is expected to continue at around these levels reflecting the current 10 pct base rate level for some time
valero energy corp vlo said valero natural gas partners lp was making an initial public offering of 95 mln units at 2275 dlrs a unit
analyst lawrence cohn of merrill lynch and co said it is unlikely the situation will be resolved until the second half of this year
you could question just how committed they are in addition some industry analysts question the effectiveness of a bilateral agreement that leaves out third country chipmakers such as those in south korea
in all of last year magnetic earned 996000 dlrs after a loss from discontinued operations of 359000 dlrs on sales of 6084000 dlrs
fao said in its monthly food outlook bulletin total world grain output was expected to fall 38 mln tonnes to 1353 mln in 1987 due mainly to unusually high winter losses in the soviet union drought in china and reduced plantings in north america
weve taken specific steps to strengthen ourselves for this purpose he added referring to management changes and a corporate strategy of concentrating on four business sectors
mcivor an exxon corp xon director and senior vice president told in an interview
the bill also would require more disclose when several investors form an alliance in a hostile takeover
overall centel has nearly 495000 customers in seven states
gv medical inc gvmi 4th qtr loss
grassleys bill stems from a 1985 decision by the international trade commission that imports from canada of live swine but not fresh chilled and frozen pork were harming us producers
fendt said the rise in imports in february to 127 billion dlrs from 112 billion in february last year was in line with government plans to foster economic growth
he said sprints progress in such areas as revenues number of customers and construction was on track even ahead in many areas looking beyond the united states holland said sprint currently had direct access to 34 countries and aimed to be in 90 pct of the free world nations by 1988
thai rice exports fall in week to april 7
as a result of the payoff of the other loan naples will have a first lien position on all of puntas holdings
representatives from petromin have visited ronnskar already we see saudi arabia as the expansion area of the future he said
schlumberger is freedmans second favorite oil service stock
texas commerce tcb sees improvement in 1987
southwest forest industries said it and stone container corp have complied with all federal waiting period requirements for stones proposed 3225 dlr per share cash acquisition of southwest
the company last changed its crude oil postings on september 28
also cryssen refining inc 4000 bpd at 1547 dlrs edgington oil co 4000 bpd at 1554 dlrs sound refining inc 3100 bpd at 1551 dlrs atlantic richfield co arc 3000 bpd at 1575 dlrs
cooper industries inc asked the federal trade commission to vacate a 1979 order that requires the company to get ftc approval before making certain acquisitions the ftc said
southland corps citgo petrleum corp said it raised the contract price it will pay for all grades of crude oil by one dlr a barrel effective today
a clampdown on output over one or two years combined with a planned cost cutting and streamlining program and state support should help japanese yards recover their international competitiveness they said
west german bankers also said then that brazil should seek an understanding with the imf
messidor said the acquisition is expected to be completed by june three
the area sown with maize this season was between 358 and 378 mln hectares two to seven pct less than the 385 mln hectares in 1985 86
the move follows cuts in credit card interest rate charges by several canadian banks
uk project expenditure in 1986 rose to 208 mln stg from 184 mln while exploration expenditure dropped to 87 mln from 156 mln
that compares with 146 gallons per box previously and 138 gallons per box from the 1985 86 crop
in the services sector increases in finance insurance and communication were more than offset by declines in transportation storage and the retail trade
penn pacific ppaco to sell debt outside us 
bundesbank sets new repurchase tender
it reflects their the executives belief that they are seeing the bottom of the economic cycle he added and with just a few reasonable breaks this industry can begin to move again the energy industry was hard hit by the sharp drop in oil prices which fell from around 30 dlrs a barrel in late 1985 to as low as 10 dlrs in mid 1986
northwest aluminum co said it will open a second pot line in mid may bringing the smelter here to 80 pct of its production capacity
mesa royalty trust mrt monthly payout
irna made no mention of natural gas exports to the soviet union which aqazadeh had said would be discussed before he left for moscow
if there is a shortage of rubber prices are bound to rise a spokesman for a company buying on behalf of the soviet union said
sarney reiterates that brazil will not go to imf
greene produces and sells dental x ray tabs mount products and record systems
ongpin said manila is sticking to its demand of a spread of 5 8 percentage points over london interbank offered rates libor for restructuring 36 billion dlrs of debt repayments
it was not immediately clear what the overall size of the capital replenishment would be if the us went ahead with such a capital increase
japan long term prime seen cut to record low soon
the bank of china is both a buyer and a seller in the market which would know quickly if it was buying heavily in advance of an announcement the reserves were down he said
britain calls on japan to increase imports
the feasibility study used a 350 dlr gold price
non manufacturing sector profits will decline 45 pct in 1987 88 against an estimated 22 pct rise in the current year it said
specialty stores generally have higher sales per square foot than general merchandise stores
in adddition geodyne said painewebber investment executives who market the program will be entitled to receive one warrant for every 500 dlrs in subcriptions generated after a four year vesting period
dixons said earlier it would allow the offer to expire tonight
us mint seeking 4784000 lbs zinc
weizsaecker on a four day official visit to argentina said argentinas problems require joint action from creditor and debtors countries and not prepared recipes from creditor banks
st
all sales under the credit guarantee lines must be registered and exports completed by september 30 the department said
mts acquisition has negligible number of caesars world shares
caesars in a brief statement did not say whether it would seek to buy back its shares held by sosnoff
four cargoes of raw sugar were sold to china yesterday via the london trade to supplement the countrys current nearby buying programme traders said
1986 and 1985 oper per share amounts are reported after paying 310 mln dlrs and 385 mln dlrs respectively for preferred stock dividends
bank of japan bought 200 to 300 mln dlrs this morning dealers said
he said the current marketing posture will provide added support to the nearby month
great american gta gains over 80 mln in loans
we also take into account other factors such as prices at which the goods and services are offered to india the trade official said
progressive reductions in the us quotas have led to production stagnating or falling rather than being shifted to the free world market
bank of montreal said it will reduce the interest rate it charges on outstanding mastercard balances to 183 pct from 21 pct beginning in july
it has flowed in mainly from hong kong japan and the us since september 1985 the taiwan dollar has risen by about 22 pct against the us dollar
this weeks us economic data are expected to have little impact
they would however be reflected in the assignment of risk weights
texon energy corp said it has entered into a preliminary agreement to purchase an 80 pct interest in a privately held specialty plastics manufacturing company it did not name
metro mobile cts inc said it declared a 10 pct stock dividend
in recent days traders have suggested holmes a court was buying additional shares
cheyenne said it had five pct or less interest in the three other properties
a rift has occured among philippine officials over debt talks opening tomorrow in new york with economic planning secretary solita monsod accusing the chief negotiator of softening his stand to gain a quick agreement
bankers expect that much of the pressure on the us banks will come from us regulators notably the federal reserve
shr four cts vs 12 cts net 248000 vs 647000 revs 237 mln vs 219 mln
argentina says could follow brazilian debt move
chamorro said nicaragua supports the establishment of export quotas in an effort to boost sagging world prices
uk base rates have been cut twice by half a point since the paris agreement once on march 11 and again yesterday when foreign demand for sterling surged in reaction to a sharp cut in 1987 government borrowing targets contained in the budget
qatar unveils budget for fiscal 1987 88
the fluidized bed facility would have provided heat and electricity for the oil shale project unocal said
there is still a certain hope that the net inflow of foreign money can be diminished or can even be a little bit reversed schlesinger said
hechinger is aggressively expanding its stores with a distribution outlet and 28 outlets planned in the next two years
blizzard conditions halted shipping through the bosphorus waterway and piled snow up to 70 cms deep in central istanbul paralysing the city for the second day running
northern has annual revenues of about 60 mln dlrs and is based in seattle
eurofima launching 40 mln swiss franc notes
while we expect to receive 183 billion kenyan shillings in the form of external loans for our development programs in the next four years we will be repaying more than 135 billion by way of external debt servicing moi told a conference of american businessmen in nairobi
qtly div 40 cts vs 40 cts prior pay may 15 record may one
ministry officials said the semi government livestock industry promotion corp lipc conducts buffer stock operations to help keep wholesale beef prices within the intervention price zone
amc common shares opened at four dlrs this morning after the renault chrysler announcement up 3 8 while chrysler shares lost 1 4 to 52 1 4
the spectra physics board voted unanimously with two ciba geigy representatives not participating to reject the swiss based chemical and pharmaceutical companys takeover bid citing an opinion from its financial advsior morgan stanley and co inc that it is inadequate and unfair from a financial point of view to the holders of shares the company said
later that week amc said it had retained financial and legal advisers and expected to meet periodiocally over the next several weeks to consider the proposal
unicorp american corp said it signed a definitive agreement to acquire lincoln savings bank fsb
ec member states cool on cereal plans
as a major sugar producer we are urging them to write a new agreement which would revive world prices yulo said
shr 61 cts vs 50 cts net 8273000 vs 6913000 sales 2260 mln vs 2159 mln nine mths shr 160 dlrs vs 125 dlrs net 21771000 vs 17369000 sales 6883 mln vs 6358 mln
on wednesday sosnoff told the securities and exchange commission that he controls 136 pct of the companys stock
the statement said the agreement with pdvsa will enable the company to supply a steady flow of refined products to its customers
chrysler overseas capital corp said it authorized redemption on april 17 of its 4 3 4 pct and five pct convertible debentures due 1988
carolco crc may bid for lieberman lmano 
sonesta international hotels corp snst 4th qtr
opposition parties were questioning wilson about a possible loss of tax revenue if the takeover was completed because of the large tax credits held by dome
in addition us lines sa subsidiaries in brazil and argentina will be sold to american transport
but a bottoming out of the economy depends largely on the yens exchange rate trend in the immediate future agency officials said
the idea of linking the six currencies has been debated since the start of the gcc
the dividend is payable march 31 to shareholders of record march 20 american city said adding that future dividends will be paid on a quarterly basis
the rates moved very suddenly and were certainly unexpected by homebuyers said cynthia latta an economist with data resources
this will create the flexibility to draw and re invest funds in either equity shares or short term bank deposits they said
they could not quantify how much coffee has been delayed but said at least 40 pct of coffee exports are carried by brazilian ships and movement of foreign vessels has also been disrupted by port congestion caused by the strike
producers have resisted reducing the role of the council in the price adjustment procedure and have expressed concern that changes proposed by consumers would weaken the present pact
shr one ct vs 24 cts net 43000 vs 1032000 revs 10 mln vs 49 mln avg shrs 37 mln vs 43 mln 12 mths shr 102 dlrs vs 162 dlrs net 3950000 vs 7308000 revs 308 mln vs 333 mln avg shrs 39 mln vs 45 mln note 1985 restated to reflect tax loss carryforwards
he was reacting to comments by local economists who said manilas debt accord was no better than mexicos which was a 20 year repayment including a seven year grace last year at 13 16 points over london interbank offered rates libor the philippines clinched a repayment of 17 years including a grace period of 7 1 2 years on 103 billion dlrs of its total debt of 278 billion
banking sources quoted federation chairman yoshiro araki as saying he hoped the market would be created as soon as possible because it would help promote the liberalisation of japans financial markets
stryker corp said it acquired hexcel medical corp a wholly owned subsidiary of hexcel corp
vornado inc vno 4th qtr jan 31 net
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
the outstanding balance also included deposits at banks and post offices up 74 pct to 337867 billion yen savings in the form of insurance up 186 pct to 111431 billion corporate bond investments up 78 pct to 46867 billion and investments in trust banks up 41 pct to 27220 billion
changes in ec areas reflect the extent to which producers will grow so called c sugar for unsubsidised sale to the world market
epsilon data management inc said it had executed a new revolving credit and term loan agreement with the shawmut bank na it said the total credit available under the newly signed agreement is six mln dlrs
the texas weekly usda state crop report said stormy winter weather limited fieldwork before conditions improved later in the week
cyacqs main equity investor appears ready to pull out and deal directly with us for merely part of the company said dixons
energy secretary john herrington said he may recommend to the white house that the domestic oil industry be given tax benefits to help it produce more oil and head off increasing us dependence on foreign oil
he said heinz ketchup has its highest market share in history 55 pct
17 1987
the pilots earlier this week offered to buy the airline for 23 billion dlrs and assume 22 billion dlrs of existing debt
cook united inc in talks to sell stake to private investors
the federal reserve is expected to intervene in the government securities market to add temporary reserves via customer repurchase agreements economists said
the financially troubled farm credit system today formally asked that the treasury department provide a line of credit to the system and that congress take steps to guarantee stock held by borrowers
while the option may be unpalatable to the us banks it could offer others a potential repayment of slightly more than half their investment over the next seven years
deutsche bank ag will be lead managing the issue the sources added
the trick is in convincing european borrowers it is worth arranging a program and having accomplished that to persaude european investors whose preferences differ from their us counterparts to buy the securities
includes operations of bank of hartford acquired feb 23
us export inspections in thous bushels soybeans 13417 wheat 12003 corn 27623
us house panel approves 400 mln dlrs foreign aid
that decision since followed by chase manhattan and security pacific corp may profoundly alter the strategy of creditors and debtors alike for tackling the debt crisis
some people argue that cutting the spread is debt forgiveness what it really is is narrowing the spread on new money he added
cable and wireless which holds a 20 pct stake in one of the two japanese firms is opposed to plans to reduce its share to three pct in the merged firm director of corporate strategy jonathan solomon told reporters
the decision in paris is being understood by the market he said
china is selling more gold abroad to offset large trade deficits in recent years western diplomats said
clorox co said henkel kgaa of dusseldorf west germany agreed to increase its holdings in clorox to 30 pct from the current level of 23 pct
a six pct stake was donated to the astra corporation workers trust by the government and the dutch company
ual ual units eight year notes yield 806 pct
scicom data scieo 1st qtr sept 30 net
us real gnp rose 11 pct in fourth quarter
most major us banks today matched tuesdays quarter point prime rate cuts by citibank and chase manhattan bank the first prime rate boosts since mid 1984
us home corp said its first quarter ending march 31 1987 will be its most profitable first quarter since 1983
he said the mooring is the first of its kind in the us the new system can accomodate vessels up to 150000 deadweight tons or one mln barrels of cargo pri said
carson pirie scott and co said the tax reform act of 1986 which repealed investment tax credits had a negative impact of 22 cts a share on earnings for the year ended january 31
with the restart of this 22700 tonne a year production line reynolds said it will be operating at 100 pct of its consolidated primary aluminum capacity of 695000 tonnes per year
opec agreed in december to maintain official oil prices at 18 dlrs a barrel and raise the groups production ceiling to 166 mln barrels per day in the third quarter and to 183 mln barrels in the fourth quarter
its a good thing and we will continue with deregulation in trade industry and licensing of new businesses asked whether the question of private capital exports from indonesia was discussed central bank governor arifin siregar expressed confidence that any drain of capital abroad would only be temporary
indian oil gas commission gets 265 mln dlr credit
it follows the announcement yesterday of a 1 4 point rise to 7 3 4 pct of two of the largest us banks prime rates
the company will offer 75 mln dlrs of 8 3 8 pct notes due march 1 1997 and 75 mln dlrs of 9 1 8 pct sinking fund debentures due march 1 2017 as part of an existing 200 mln dlr shelf registration
in rejecting the takeover proposal by the us subsidiary of swiss based ciba geigy ag the company said it was unfair
shr seven cts vs 10 cts net 127000 vs 168100 revs 2807400 vs 3042900
standard said the group will consider bps offer in due course noting the committee has retained the first boston corp and cravath swaine and moore as advisers
icn biomedicals inc bimd 1st qtr feb 28 net
fed says it sets 15 billion dlrs of customer repurchase agreements
asked by reporters after a speech before the national fitness foundation banquet what if any currency intervention levels had been set in paris baker replied we never talk about intervention baker also declined to comment on his views about the foreign exchange markets reaction to the accord
qtrly div 10 cts vs 10 cts prior pay april 30 record april 21
they are convertible into carbides common stock at 3550 dlrs per share representing a premium of 2347 pct over the stock price when terms on the debt were set
the government also announced it will provide up to 13 mln dlrs in loan insurance to help versatile prepare for the construction of the vessel
subscriptions close march 18 and payment date is april 2
jim walter corp said it completed the acquisition of owens corning fiberglas corps mineral ceiling and fiberboard plant in meridian miss
the issue is being co lead managed by credit lyonnais banque nationale de paris bnp and credit suisse first boston
israel tenders tonight for corn and or sorghum
genstar sale boosts belgian societe generale net
currently the only other potentially diluting instruments are the warrants that the company also issued in connection with the hybritech acquisition
the last working face assayed 0422 ounce of gold per ton across 85 feet and the drift will be continued eastward from that point the company said
gillette gs seen object of global bidding war
lord plumb european parliament president and a speaker at the conference said the ec expanded oilseed production in 1973 when the us halted overseas sales of soy products
an investor group that includes t
the us senate on tuesday backed president reagans retaliatory strike against iranian targets in the gulf as it moved to take a greater role in making policy in the volatile region
burdensome supplies have pressed the market down from 130 dlrs a pound in february when the organizations discussions aimed at re establishing export quotas broke down
burst agritech inc brzt year nov 30 loss
growth in goods exports will slow to 175 pct in 1987 from 21 pct in 1986 but pick up slightly to 25 pct in 1988
london grains sees wheat recover from lows
any farm trade concessions would be unveiled later this month they said
he said the allocations were in line with indonesias production ceiling under its current opec quota so they might be increased if opec ratifies a production rise next week
qtr ends jan 31 shr nil vs nil net 2213 vs 16288 revs 1418019 vs 795522 avg shrs 6650000 vs 4150000 nine mths shr two cts vs three cts net 118984 vs 103384 revs 4066605 vs 2741241 avg shrs 6650000 vs 3969444
asa vice president james adams told an asa sponsored outlook 87 conference it will be filed unless the ec takes drastic and immediate steps these subsidies are blatantly unfair and are gatt illegal since they were established after the zero soybean duty was established in 1962 he said
cftc said the soft drink industry currently buys at least 95 pct of all us produced hfcs 55 a liquid food and beverage sweetener produced through the processing of corn starch by corn refiners
moderately active grain fixing was reported out of the us but none of the business involved the significant voyages to the continent or japan ship brokers said
the company also said it was advised that dixons shareholders approved the merger satisfying that condition of the agreement
under this proposal it sought to defer interest payments until june at the earliest foreign bankers and government officials here said
ftc urges veto of georgia gasoline station bill
the cbt spokesman said another option being discussed was to renovate the financial floor in quadrants one quarter at a time
japans finance ministry auctioned 1000 billion yen worth of tankoku six month debt financing paper to roll over previously issued tankoku maturing on march 19 a spokesman said
however it could not issue sterling commercial paper because bank of england rules prohibit an issuer of certificates of deposit to issue paper denominated in stg
with 81 pct of the membership voting 545 pct voted no and 455 pct voted yes the union said
the committee also voted for legally binding quantity and quality requirements on the materials mostly metals
kaputin did not say when the corporation would be established or exactly what form it would take but said the government would study whether it should be directly involved in exploration or development
the indian state trading corp bought one or possibly two 6000 tonne cargoes of malaysian refined bleached deodorised palm olein at its vegetable oil import tender today for mar 15 apr 15 shipment at 355 dlrs per tonne cif traders said
argentine grain shipping situation
japanese officials in tokyo today reiterated that japan had no plans to bow to uk and us pressure to give foreign telecommunications firms a bigger role there
there is absolutely no reason not to do so lawson said
the asian dollar market continued to expand in december with total assets and liabilities rising to 20060 billion us dlrs from 18854 billion in november and 15537 billion in december 1985 the monetary authority of singapore said
in a separate operation financiere robur is issuing a 14773 mln french franc eight year bond with a six pct coupon denominated in 1100 franc units and priced at par
other countries could be added to the list
they have granted pittston the right of first refusal to their shares
world ending stocks of oilseeds are estimated to increase for the fourth straight year to a record 284 mln tonnes compared with 254 mln last year
a local government official said the police force would remain in place until tempers had cooled down
the calls to be made effective june 30 and september 30 affected respectively the 7 1 4 pct bond of 1975 for 250 mln francs and the 6 1 2 pct bond of the same year for 300 mln
i dont know who in congress would propose that happening
forced last month to cut the governments 1987 growth target and raise its inflation estimate finance minister edouard balladur ruled out action to stimulate the economy
poehl and other bundesbank officials have in the past stressed that the german central bank had no direct responsibility for growth and was solely concerned with combatting inflation
west german wholesale prices fell 04 pct in february from january to stand 69 pct lower than in february 1986 the federal statistics office said
mark iv industries inc iv started tendering for all conrac shares at 25 dlrs each on march 24 and owned 99 pct of conrac before starting the bid
dole said he was encouraged by the selection of republican david karnes to replace the late sen
japanese customers have bought nearly six mln barrels of crude oil from the national iranian oil company nioc at a substantial discount to the official price and western traders have received even larger discounts japanese traders involved in the transactions told 
bankers trust international is co lead manager
finns and canadians to study mtbe production plant
gabelli said the unsuccessful attempt was designed to stiffen the backbone of the board to discourage greenmail hubbard and reed reiterated previous statements that they are open to negotiations with gencorp
ual pilots said they would be willing to pay 45 billion dlrs which includes debt for the companys united airlines unit
the association said its members recorded about a 6 mln dlrs us loss in each of 1985 and 1986 due to lower traffic and freight rates and increasing competition
cominco will maintain a majority position in the company but the remaining interest will be sold in offerings led by wood gundy inc and first marathon securities ltd in canada and sg warburg securities and wood gundy inc internationally
general acquisition said it is confident its offer can be completed in a timely manner using its financial arrangements
mulroney who offered few new details of the talks said that while the negotiations were risky and difficult a profile of a major trade deal is now emerging in a 50 minute address mulroney made an often passionate defense of the initiative that he said would give poorer areas of the country a major economic boost
the notes are priced at par or 1000 dlrs each
hadson corp hadso completes acquisition
the notes are available in denominations of 1000 and 10000 dlrs and will be listed on the luxembourg stock exchange
the syrup commonly called hfcs 55 is most commonly used as a sweetener in soft drinks and other beverages
the latest brazilian coffee institute estimate for last years harvest is 112 mln bags although many traders believe it was higher than this
allegheny noted it had previously cancelled plans to spin off the foodservice subsidiary
the company said it will attempt to settle the cost of service issues in timed to allow the new rates to go into effect this summer
in a letter calling for the special committee meeting washington charged france west germany the uk spain and the ec commission with unfair practices on behalf of airbus
united cities ucit makes acquisition
the fitness rfit buys livingwell unit
he said other negotiations were under way with biotechnology companies in the health care and diagnostics sectors through montedisons health care subsidiary erbamont nv but gave no details
the placing has been arranged through allied irish investment bank plc at an ex dividend price of 371 irish pence per share
the hole is 460 feet east of the previously reported first hole
muda said the group of eight had some common ground with the big consumers because they agreed on the need for basing quotas on what he termed realistic criteria the breakaway group believes the old quota system which gives brazil a 30 pct share of the quota exports does not reflect up to date supply and demand trends
megavest to acquire computer trade development
flushing hodeidah and mokha 16800 mt bagged sugar 750 750 9 15 4 genoc
but the sec brief was never filed since the case was dropped following an agreement between campeau and debartolo
commercial banks have tended to be rather difficult in terms of new money for some time now he told reporters at a news conference
ibm ibm forms telecommunications group
this is first dividend declared since company completed its initial public offering on november 7
sight deposits of commercial banks at the swiss national bank fell 288 billion swiss francs in the first 10 days of march to 765 billion the national bank said
note company was created in may 1986 by the merger of royale belge vie accidents and royale belge incendie reassurance vie accidents shareholders received eight new shares and incendie reassurance shareholders six for every share held in the old companies
one of four major japanese securities house bought 395 pct of the total 10211 billion yen in bids accepted ministry sources said
thailand expects smaller sugarcane output
china is moving to stabilise world prices of tungsten after fluctuating prices this year affected the countrys export earnings the china daily said
shr 22 cts vs 16 cts net 2460000 vs 1730000 sales 370 mln vs 273 mln per share figures adjusted for two for one stock split of february 1987
the spot riyal was little changed at 37501 03 to the dollar after quotes of 37498 7501 yesterday
iranian foreign minister ali akbar velayati here on a two day official visit informed cuban foreign ministry officials on monday on the tense situation in the gulf diplomatic sources said
year to december 31 1986 net profit 78 mln nz dlrs vs 45 mln pre tax profit 147 mln vs 88 mln total assets 77 billion vs 64 billion notes the company is 100 pct owned by lloyds bank plc lloyl results include for the time first a pre tax profit of 11 mln nz dlrs from australian unit lloyds bank nza ltd
under terms of the agreement announced in january lincoln would be acquired by a unit of unicorp which is minority owned by lincoln president alton marshall
at the same time ibm said its communications products division will continue to direct the worldwide development and us manufacture of ibms non rolm telecommunications products
under existing law congress must agree to oil and gas exploration and if it does not act the land will remain a wildlife refuge protected from commercial development
the criminal settlement includes the lifting of the governments suspension the dismissal of the federal civil false claims suit and all charges against the individuals
rhodes rhds sees sharply lower 4th qtr net
questioned by a parliamentary select committee about why the participating countries had not announced any bands lawson replied we all agreed it would be much more sensible not to when asked whether that meant an informal joint currency float with set ranges was arranged in paris lawson said i do not want to reveal the precise nature of the agreement so as not to make it easy for speculation against the accord
japanese crushers buy canadian rapeseeed
he did not give details but said it is a very useful alternative and in the end will permit the banks to say that they achieved their pricing target and will likewise permit the philippines to say exactly the same thing quoting negotiation documents to be presented to the countrys 12 bank advisory committee business day said the debt certificates will carry maturities of five or six years
chase manhattan securities ltd international economist andy wrobleski noted the bank has already raised about 18 billion stg of next years funding needs this year via a series of tap issues
this compared to a revised 04 pct decline in january previously reported as a 01 pct decline
bankers said there are first signs that the number of non performing loans has stopped growing as the decline in the saudi economy bottoms out
he attributed this to restoration of law and order which has greatly reduced not only the extent of unrest but also the intensity of unrest south africa has been under a state of emergency since june 1986 because of black political violence that has claimed over 2400 lives in the past three years
uk australia offer wheat to bangladesh
national westminster bank said it cutting base rate to 10 pct from 105 pct
sun co said it raised the contract price it will pay for crude oil 50 cts a barrel effective today
generally the bills provisions toughen us enforcement of trade laws
katharina zimmer analyst for merrill lynch futures said the conservation sign up was slightly higher than she had expected although she noted that some trade expectations were considerably higher than the actual figures
1986 net excludes charges from debt restructuring of 1976000 dlrs in quarter and 3800000 dlrs in year
credithrift financial corp said its board authorized the redemption of the companys 820 pct senior notes due dec 15 1987
shipments in tonnes with comparative figures for the 1986 period in brackets included beef 26945 20096 horse meat 3257 4211 and beef offal 7660 10502 argentines meat exports totalled 20243 tonnes in february 1987 against 19217 tonnes shipped in the same 1986 month
scotts liquid gold inc year oper net
tensions have risen following britains decision to arm itself early with new statutory powers which it says could be used against certain japanese financial institutions
theres another pool of cash at the table now he said
the western name was to have disappeared at midnight last night
the products include fruit juices purees and pulp some tomato products peanuts prepared beef products and beans
however some dealers reportedly backed out of the three day system repurchase agreements set on monday leaving the fed with a somewhat increased need to supply reserves
but agriculture minister kato has ruled out any emotional reaction and the senior ministry official said the farm issue should not become a scapegoat for trade pressure in the industrial sector
the complaint seeks among other things to enjoin the tender offer and to require mts and sosnoff to correct false and misleading statements in the offer
east rand mines expect higher gold production
wang said the desk top financial planning system for its ois comes in two basic packages the advanced planning system priced at 2995 dlrs and the budget reporting system priced at 1995 dlrs
twa twa makes merger offer for usair u 
we are in the market for grains but it is up to the united states to be the seller to offer soviets competitive prices he said in an interview
kapok corp kpk cures technical defaults
it also said sk and fs us sales force will be 20 pct larger in 1987 with more than 1000 sales personnel
shr 27 cts vs not given net 617000 vs 550000 loans 928 mln vs 847 mln deposits 1219 mln vs 1194 mln assets 1554 mln vs 1524 mln note prior share not given due to june 18 1986 conversion to stock ownserhip
this is the lmes first dollar contract and non european delivery point and the board and committee are looking at singapore as a delivery point for other contracts
they said brazil would likely resume interest payments by the banks fiscal year end on october 31 thus allowing banks to recoup their lost interest income
south korea signs for 446 billion yen credit
he said the eurofer plan in particular fails to pinpoint the scope for closure in heavy hot rolled wide strip products typically produced in plants employing thousands of people
student loan marketing association slm 1st qtr
senior ec financial expert in tokyo tomas de hora has watched the movements closely
terms of the agreement were not disclosed
chargeoffs of real estate loans rose to 32 mln dlrs or nine pct of total loan chargeoffs and the bank said the amount could go higher
american has 78 mln dlrs of a rated senior debt and 256 mln dlrs of bbb preferred stock as well as a 1 paper
chrysler corps chrysler motors corp said its chrysler training corp non profit organization sold the name and assets of its motech auto mechanic and body shop schools to o e corp of troy mich
the state owned capital of bimp comprises 251 mln shares
dealers said federal funds were trading at 6 1 4 pct when the fed began its temporary and indirect supply of reserves to the banking system
the bank of england said it had provided the money market with 224 mln stg help in the morning session
bulgaria signs 40 billion euroyen loan
marketing systems of america inc said it has retained richter cohen and co to assist in efforts to redirect its business through merger or acquisition
the miners were willing to negotiate with the government of president victor paz estenssoro but only if it showed an intention to meet the strikers demands
on march 16 twa withdrew its bid saying it did not intend to seek control of usair group or to acquire more of its stock at the time
1986 nine months period includes gain of 160431 dlrs or two cts a share from sale of ferrotherm co
banks in jordan have generally complied with the higher capital requirement except chase manhattan which decided instead to close its operation banking sources said
wallace computer services inc wcs 2nd qtr net
basix corp bas to sell unit to cubic cub 
s and p cited the acquisition of amc as strongly negative
brazils gdp grew 82 pct last year
the crucial question however is how soon either of these developments is likely to occur kaufman said
the stock market was easier at midsession but brokers said the current account data had little impact on trading
the issue has already been placed privately on an international basis and will not be listed
the rebound occurred after standard and poors corp downgraded the debt ratings of 84 billion dlrs of debt of texaco and its subsidiaries to d traders noted
sosnoff already owns about four mln of caesars 30 mln common shares now outstanding or a 133 pct interest on a primary basis
livestock analysts expect renewed bull spreading in live cattle futures following yesterdays usda 7 state cattle on feed report
zimbabwe began producing 10 mln polypropylene grain bags this year to replace jute bags imported mainly from bangladesh
commenting on the article he said the details of the package have not yet been settled
it is the first us municipality to arrange these types of facilities in the international capital markets
heading off challenges to its third world debt strategy us officials also say they think concessions should be made to debtors that enact reforms speeding inflation free growth
the jamaican information service said the rescheduling agreement reached with the paris club of western government creditors covers 1255 mln dlrs of debt and not 255 mln dlrs as it announced yesterday
chevron chv nippon oil form joint venture
brazil which would have had its quota reduced under the group of eight scheme blocked the proposal
private traders protested last year that epac was being permitted to take part in tenders open to them for the first liberalised 20 pct share of the countrys annual import needs
shr 70 cts vs 61 cts net 2002 mln vs 1739 mln sales 138 billion vs 126 billion nine mths shr 187 dlrs vs 154 dlrs net 5356 mln vs 4378 mln sales 404 billion vs 363 billion note share adjusted for two for one stock split
1st qtr ended september 26
taft broadcasting tfb completes station sale
banco di roma london branch has a certificate of deposit program in the market under which the securities are traded
the us agriculture department made the following supply demand projections for the 1986 87 seasons in mln bushels with comparisons unless noted corn 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 acreage mln acres planted 767 767 834 834 harvested 692 692 752 752 yield bu 1193 1193 1180 1180 supply mln bu start stock 4040 4040 1648 1648 production 8253 8253 8877 8877 total x 12295 12295 10536 10536 x includes imports
in a statement calmos said it and its european partner european silicon structures expects to use the research to improve the design of silicon chips
chinas application could be considered a test case he said
british aerospace plc baell said it has increased its stake in systems designers plc to 221 pct or 2546 mln ordinary shares following the purchase of 1045 mln ordinary shares
the company said it invested 209 mln dlrs in property plant and equipment in 1986 up from 181 mln dlrs in 1985
japan to introduce yen commercial paper in october
aquino says manila watching interest rates closely
he told the sec that while he is trying to buy or acquire the firm he still may only hold the shares for an investment
if the crop can be drilled by the third week in april we will be delighted he said
as an example they quoted wheat export volume which rose about 30 pct in february after dropping as much in january
midlantic midlo to acquire county bancorp
the current exposure would be measured by the mark to market value of the asset which would reflect the replacement cost
trading volume in london new york and tokyo alone last year averaged nearly 188 billion dlrs a day according to a joint central bank study about double the previous estimate made just two years earlier by the group of thirty private research group
trust america service corp said it signed an agreement with the first union bank of florida for a 35 mln dlr mortgage warehouse credit line
ideas being considered included blocking japanese companies from trading in britain and revoking licenses of japanese operations in the london financial district
shr 51 cts vs 40 cts net 14 mln vs 851000 revs 98 mln vs 65 mln six months shr 74 cts vs 50 cts net 20 mln vs 11 mln revs 177 mln vs 113 mln avg shrs 27 mln vs 21 mln notequarter ended march 31
ivanov also accused the united states of stepping up the regional crisis and of failing to exert genuine efforts to end the iran iraq war
consumer delegates said they were optimistic the council could reach agreement on the rules fairly quickly
he did not give details but said it is a very useful alternative and in the end will permit the banks to say that they achieved their pricing target and will likewise permit the philippines to say exactly the same thing quoting negotiation documents to be presented to the countrys 12 bank advisory committee business day said the debt certificates will carry maturities of five or six years
net earnings from continuing operations rose to 18 mln dlrs up almost 31 pct from 139 mln dlrs while per share earnings from continuing operations were 222 dlrs up 23 pct from 180 dlrs
the groups other three divisions specialty steel capital goods and trading had made a profit so far in 1986 87 he added
analysts said the banks decision not to offer stock next week reflects the higher demand for funds at the start of the system of provisional tax payments
seven oaks international inc said it has formed a new 80 pct owned subsidiary called seven oaks direct inc to offer a full line of telemarketing services
the rate for raws is based on 92 pct yield
uk money market deficit revised to 550 mln stg
however as the lands began drying later in the week harvesting advanced considerably reaching between 36 and 40 pct of the area sown in the case of sunflower
the price paid for general tire would not cause us to reevaluate that estimate said tilden
the mississippi river is now open for barge traffic up to the twin cities in minnesota after repairs were completed and the first barges moved upstream through lock and dam 20 near quincy ill at 0600 cst today an army corps of engineers spokesman said
payment date will be april 6
trade credit lines were 880 mln dlrs in 1982 but fell in 1984 when peru stopped some payments to private foreign banks
debt securities issued by major us banks are under pressure in the secondary market as investors shy away from the paper because of brazils suspension of interest payments last month analysts and traders said
uk intervention board details ec sugar sales
danske bank is first danish bank to issue cds
husky oil ltd said the board called a special meeting for april 22 for shareholders to vote on its previously announced agreement for hong kong based hutchison whampoa ltd and hongkong electric holdings ltd to acquire a 43 pct interest in the company
caterpillar inc cat 3rd qtr net
if you can tell me how we can get the international energy price up and how we can get the price for copper up and how we can get the price for wheat up then we will listen wilson told the house of comnons finance committee
ryans family steak houses inc said its board declared a three for one stock split payable may 20 to holders of record may 6
it is believed to be the largest ever issue denominated in australian dlrs
but fernandez said what was more significant was that manila came down from 1 7 8 on the new money and 1 5 8 on the restructured debt to 7 8 points
canada december leading indicator up 04 pct
treasury secretary james baker said in a newspaper interview that he supports the current course of federal reserve board monetary policy
the newspaper quoted pentagon officials as saying the navy would keep the aircraft carrier kitty hawk on station in the arabian sea and the rest of the indian ocean until may three months longer than planned
the transaction is valued at 162 mln dlrs
it said the lifting of the restrictions reinforces the international status of the lira and meets the requirements expressed several times by foreign exchange dealers
encor traded earlier on the toronto stock exchange at 7 1 8 near its 52 week high of 7 1 2 and up from around six dlrs in early february
delegates speculated brazils financial problems illustrated by its recent suspension of interest payments on bank debt have increased political pressure on the country to protect its coffee export earnings
taiwan power firm plans more foreign debt cuts
oil worlds analysis predicted only a slight production increase of 05 mln tonnes in the year to end september 1987 compared with increases of 36 mln and 40 mln tonnes in the previous two seasons
cabot medical corp cbot 1st qtr jan 31 net
iadb dispute highlights latin debt conflicts
flat prices for chinese beans are based on futures prices in chicago plus the fob premium
unitil corp utl 4th qtr net
australian prime rates have now retreated from a recent peak of 19 pct in october in line with declining money market levels
he predicted the trade deficit which was 170 billion dlrs in 1986 would decline by 30 to 40 billion dlrs in 1987 and in 1988
us producer prices rose 01 pct in feb after 06 pct jan rise
the trust which has raised its quarterly dividend frequently in the past two years and in the first quarter in both years said the tax reform act of 1986 has limited its flexibility on dividends and trustees will now consider the appropriateness of any dividend increases only during the later quarters of the year
qtly div five cts vs five cts prior payable april three reocrd march 20
the ftc said it ended the prior approval requirement because allied no longer has businesses covered by the order
the ministry said french aid to gabon in 1987 within the framework of the countrys economic recovery program amounts to about 167 billion francs
the united states is considering the request to temporarily transfer kuwaiti ships to american registration but such a move could create insurance and other problems the officials said
existing 500 franc b tranche certificates would be split five for one
banque nationale de paris hong kong branch is planning a 100 mln hk dlr certificate of deposit issue with bt asia ltd as lead manager banking sources said
reporting on the us debt strategy baker said attitudes in debtor nations have changed and there is much greater acceptance of free market reforms than hitherto
profits increased in bicc technologies and in bicc international in local currency terms while associated british cables had another excellent year the company said
npn acquired control of whippany in a recent tender offer
avx corp avx files for debenture offering
american express axp approves shearson offer
the company which has an agreement to merge with lomak petroleum inc lost 71 mln dlrs in 1986 against a loss of 88 mln dlrs a year earlier
the preferred stock is convertible into 208334 berkey common shares and warrants to buy another 208334 shares
owens illinois said that as of oct 19 1598789 common shares or about 13 pct of the outstanding shares of brockway have been tendered
the well is two km south south east of kerna 3 15 km south east of the dullingari field and 75 km east of moomba
the bonds are also better for those who expect the australian dlr to appreciate
guardian morton shulman precious metals inc said morton shulman and guardman investment management services inc agreed in principle for andrew sarlos to make a takeover bid for all special shares and series ii warrants of guardian morton subject to regulatory approval and completion of definitive documentation
ambassador said its unit would purchase 100 pct of heritages stock for an initial payment of approximately 500000 dlrs and subsequent payments in cash over a five year period equal to 50 pct of the net after tax profit of heritage
the federal reserve entered the us government securities market to arrange 15 billion dlrs of customer repurchase agreements a fed spokesman said
the stock closed at 53 3 4 yesterday
sizzler restaurants international inc sizz net
independent chairman for dutch cargo dispute
the company plans to sell the station to mca inc mca for 387 mln dlrs
stanley works swk sets quarterly
stanley said however that any reduction in first quarter operating income will be offset by reduced interest expense and that first quarter net income will be about flat with first quarter 1986 net income of 14 cts a share or 286000 dlrs
american electric power cos indiana and michigan electric co said on june one it will redeem 64 mln dlrs principal amount of its 80 mln dlrs of 11 3 8 pct first mortgage bonds due 1990 at par
randol said us crude oil imports will increase 35 to four mln barrels per day by 1990 as consumption rises 15 to two mln bpd and supplies decline two mln bpd
the nine closed stores which had pretax operating losses of 17 mln dlrs in 1986 are being sold to provide cash for operations
the reagan administration will consider curbing foreign takeovers of security sensitive industries such as semiconductors and computers the new york times said quoting an unnamed senior administration official
proceeds will be used to retire commercial paper to repay some long term debt and for general corporate purposes
shr 99 cts vs 97 cts net 31011000 vs 30899000 sales 6515 mln vs 5831 mln year shr 313 dlrs vs 292 dlrs net 98643000 vs 92347000 sales 261 billion vs 251 billion note 1986 results reflect two for one stock split of july 23 1986
seipp said the purchase price had been several hundred million dollars but he gave no further details
hutton has begun a tender for 83 pct of purolator at 35 dlrs cash per share
french treasury to repay 680 mln francs of debt
nyse says general refractories grx no comment
in 1985 when oil prices were still above 25 dlrs a barrel and chemical exports were adversely affected by the strong us dollar dow had profits of 58 mln dlrs
allegheny said the class action suit alleges the price to be paid in the transaction is grossly unfair
makumbi said when he returned from london on friday
in addition i think we are giving some consideration to the possibility of extension into other states reuber said of harris although he added that any such move was unlikely this year
the managing director of the international monetary fund also participated in the meeting
it is very difficult to be optimistic gut said
the merger which may be finalized as early as may 1 will lower texas commerces cost of funding by an estimated 10 to 15 basis points love said
the company said europe craft designs imports and distributes menswear and sportswear under the members only brand name
it said sales in the period grew 88 pct to 723 billion dlrs from a restated 665 billion dlrs in 1985 with comparable store sales up 47 pct
the steel and energy concern will earn about one dlr a share in 1987 about half of that coming from asset sales and from two dlrs to 250 dlrs in 1988 bradford said
he lyng does not intend to bring it up the aide said adding that the subsidy offer remains dormant lyng plans to spend about five minutes reviewing the status of farm legislation on capitol hill before the economic policy council which is responsible for guiding the administrations economic policy the aide said
loans and advances from the dutch central bank to the commercial banks rose by 12 billion guilders to 107 billion in the week up to and including april 6 the banks weekly return showed
the philippine negotiating team refined the pins idea three times before the final agreement was struck last friday ongpin said
hopes of a cut were dashed on tuesday with an allocation at an unchanged 380 pct
ec authorises export 55000 tonnes maize maximum rebate 130 ecus tonne trade sources
the company also plans to issue participation certificates with a par value of 70 mln swiss francs from which existing shareholders are excluded
zehntel zntl files for debt offering
they want price ranges to be more responsive to market trends to avoid overstimulating output and straining the accords support operations and intervention rules that avoid the risk of exports by non members undermining the pacts
but the dominican republic and costa rica joined the splinter group which said it would agree to objective criteria
the nigerians will go on to paris for similar bilateral talks tomorrow with coface the french export credit agency
republic said it is offering to acquire its stock at a rate of 1750 dlrs principal amount of debentures per common share
the spokesman said the transaction was accounted for as an acquisition but the securities and exchange commission took issue with the accounting method and said it should be accounted for as a reorganization of entities under common control
he said that the reagan administration was resisting strong domestic pressure for trade protection and was working closely with the us congress in crafting a trade bill
but no one is sure what the impact will be
france a large consumer and producer of sugar favours a sugar pact as long as it reflects the real market situation particularly regarding stocks
the agency noted that usair has promised to give protective benefits to psa workers and that unions representing psa workers have collective bargaining agreements that provide such protections
news of the release produced an early downward reaction in local physical markets but by midday some sections had halved early two stg losses while others were unchanged
government cash balances rose 26 mln dlrs to 265 billion dlrs in week ended june 17
moller said he bought the stock as a long term investment and may buy more but has no plans to seek control of the company
the united states warned iran again that it was ready to retaliate for any further hostile military action in the gulf as us warships began escorting another tanker convoy southward from kuwait
hodel said the loss of some domestic oil production through the shutdown of stripper 10 barrels a day or less wells because of low prices was probably permanent
he also said capital expenditures should be about 400 mln dlrs in 1987
prices for 03 pct and 05 pct sulphur fuels were unchanged at 2250 and 2185 dlrs respectively the company said
he said the company would use much of the income from the amusement park chain were it to be sold to repay debt
she cited a number of reasons besides possible crop problems that might point to additional soviet import demand
40 miners trapped by fire in gaspe copper mine
in particular he urged the banks to develop a menu of options for supporting debtor reforms as a means of maintaining broad bank participation in new financing packages mulford said the banks should be able to offer a range of options to members of the lending syndicates provided that the liquidity value of the total transactions to the debtor nations is equivalent to the banks new money obligation
brown and sons inc
treasury balances at the federal reserve fell on march 5 to 3467 billion dlrs from 3939 billion dlrs the previous business day the treasury said in its latest budget statement
the company said the negotiations would determine the terms under which the ccr board of directors could support the intercep tender offer it gave no further details
a spokesman said alitalia was hoping for an increase in traffic with the us in 1987
todd shipyards tod struck on west coast
shr 173 dlrs vs 166 dlrs net 3637000 vs 3789000 revs 276 mln vs 266 mln year shr 347 dlrs vs 234 dlrs net 7815000 vs 5340000 revs 943 mln vs 819 mln
philippine sugar production in the 1987 88 crop year ending august has been set at 16 mln tonnes up from a provisional 13 mln tonnes this year sugar regulatory administration sra chairman arsenio yulo said
butler manufacturing co said it completed sale of its livestock systems division and part of its control division in separate transactions to two unrelated parties
japan february current account trade surplus jump
sudan reached a framework rescheduling agreement in 1984 with western government creditors of the paris club
it said it would also continue gencorps policy of trying to sell its new york area television station wor to mca inc mca for 387 mln dlrs and its los angeles station khj to walt disney co dis for 217 mln dlrs
peru decrees firms should buy treasury bonds 
also excludes extraordinary gain of one ct per share in fourth quarter 1985 and gain of one ct per share vs one ct in the full year period
i dont like that fact that we had a close below 101 said prudential bache analyst fred leiner
rocky mount recorded net income of 248000 dlrs or eight cts per share for the first quarter of fiscal 1986
it said the debentures are being issued under a previously announced shelf registration
heavy signup seen in 1987 corn program usda
the company said its was served the suit in minneapolis on march 31 the day after it announced its definitive merger agreement with bristol myers
bremer landesbank issues australian dollar bond
vista chemical co said it expects earnings for the year ending september 30 to be up substantially but extensive planned downtime at two of its plants is expected to affect third quarter results
jm said all of its directors except jack e
merry go round enterprises inc said its board declared a three for two stock split payable may one to holders of record april 17
barley exports for january comprised 103700 tonnes to the ec and 233000 to third countries
there was widespread confidence a result on the outstanding items could be reached by friday when the council session is due to end consumers said
excluding energy exports the 1987 figure would be two pct it said
the securities will be listed on the luxembourg stock exchange and will available in denominations of 1000 and 10000 dlrs
nicholas said that hbo and cinemax had combined subscriber growth of 800000 for last year
there were some price declines including a 34 pct fall for passenger cars and 13 pct for light trucks from january levels
it said us regulatory authorities and the bank of england were keen to encourage banks to net contracts consolidate multiple contracts with the same counterparty into one single agreement to create one single payments stream
entre computer etreo closing overseas units
it said it was not ready yesterday to take a stand but did not say why
polysar ltd wholly owned by canada development corp said it agreed to form a joint venture with raision tehtaat of finland to build a synthetic rubber latex plant in southern finland
seton said its board of directors unanimously approved the merger in a meeting held today
harris associates lp a chicago investment advisory partnership said it lowered its stake in triad systems corp to 1355296 shares or 179 pct of the total outstanding from 1463962 shares or 193 pct
berliner bank ag has suffered losses of between 25 mln and 30 mln marks on credits extended by its stuttgart branch by bank officials who exceeded their powers a bank spokesman said
noel industries inc nol 1st qtr jan 31 loss
as long as opec maintains its output curbs demand for its oil will rise in april and may sheikh ali said adding that kuwait was strongly committed to its opec quota
the bonus of 4005 dlrs per tonne was made to peavey company and will be paid in the form of commodities from the ccc inventory it said
separately carroon said it also completed the acquisition of rosskopf rapp and schmidt insurance agency based in el monte calif
nucor corp nue raises quarterly
the ussr has purchased 2825600 tonnes of us corn as of april 2 for delivery in the fourth year of the us ussr grain agreement
taiwan says us wants taiwan dollar to appreciate
the bank of japan will sell 300 billion yen of financing bills tomorrow under a 55 day repurchase accord maturing on may 12 money traders said
the british petroleum co of australia ltd reported a 1615 mln dlr net loss for 1986 against a 7338 mln dlr profit in 1985 after sales fell to 227 billion dlrs from 294 billion
sri lanka appeals for drought relief aid
elsinore els makes deposit for interest payment
the deadline for a final determination is march 7
ortner said he would like to see the law changed to eliminate the 48 hour delay in reporting the two figures
immediate benefits of certificates include greater market liquidity improved market price competitiveness higher farm income and improved debt situation and decreased carrying costs he said
but it will quickly become apparent that colombia does not intend to go over the top arango said in an interview
a series of labor disputes and bad weather has meant brazils coffee exports have been running at an average two weeks behind schedule since the start of the year one source added
british manufacturers expect output to grow rapidly in the four coming months a confederation of british industry cbi survey shows
the official said in the statement that no such emergency session was scheduled because of member countries firm determination to defend the price system agreed in december
major trading houses which see their profits evaporating in the heat of increased competition in merchandise trade all have foreign businesses on their shopping lists
new rates which affect both indian and foreign banks also include a one percentage point gain to an annual 10 pct on deposits of two years or more but less than five
fees comprised 1 1 4 pct selling concession with 3 4 pct for management and underwriting combined
gleske added targeting the exchange rate even within a wide margin will meet with serious objections where there is a clearly perceived potential for conflict between domestic and external policy priorities commenting on the paris currency accord gleske said its chances of stabilising exchange rates rested heavily on current interest rate differentials being maintained
renouf corp ltd said it sold its 1083 pct stake in nzi corp ltd to brierley investments ltd bil for 2077 mln nz dlrs
chinas foreign debt is very low given its export capability the size of its economy and its growth potential and the country is politically stable jean maxime leveque chairman of credit lyonnais told reporters
franklin massachusetts sets monthly payout
we dont see it as a precursor of continued strength durable goods sales rose 88 pct in february after falling 177 pct in january
companies will probably only drill their best prospects said john curti an analyst with birr wilson securities inc
daiwa became the second foreign firm to manage an offering in the domestic debt market in september 1986 when it won in competitive bidding 125 mln dlrs of 10 year first mortgage bonds of general telephone co of california a unit of gte corp gte it followed the lead of ubs securities inc the us unit of union bank of switzerland
the dollar was quoted at around 18040 marks shortly after midday in nervous but quiet trading up from its 17975 85 opening
if anything it has been exacerbated by recent events the inequities of the international economic environment conspire against the welfare and stability of developing countries petricioli added
ashton tate tate 4th qtr net
outboard marine om officials hawking stock
as an indication of his success white house spokesman marlin fitzwater told reporters friday the administration still did not like some provisions
the typical salaried employee has 733 mln yen in savings reflecting an annual average savings rate of 17 to 18 pct he said
most of the surplus is expected to come from trade with the us taiwans largest trading partner and importer of nearly 50 pct of taiwans total exports he said
the agricultural stabilization and conservation service ascs has established these unit values for commodities offered from government stocks through redemption of commodity credit corporation commodity certificates effective through the next business day
their interest is not in preserving and strengthening americas industrial and providing jobs he said
mulford says g 6 wants stability
none of the four major uk clearing banks now has a dealing room on the island
the three following first quarters resulted in losses of 3200000 dlrs 3500000 dlrs and 1800000 dlrs respectively the company said
the british petroleum co plc bpl said it had no plans to close its refinery in gothenburg despite forecasts by a swedish finance ministry committee that it might be planning such a move
we are in registration
spains principal measure of money supply the broad based liquid assets in public hands alp grew at an annualised rate of 176 pct in march against 166 pct in february and 196 pct in march last year provisional bank of spain figures show
a paribas official said euratom had timed the issue to coincide with the 30th anniversary of the treaty of rome
interconnect said it offered 707 dlrs per share plus the repurchase of the loan for 13 mlns for an aggregate price in the 95 mln dlr range
oper net excludes gains on tax loss carryforward of 247000 dlrs vs 118000 dlrs
the latest aid package is the third since 1977 for rgc a major employer in queenstown on the thinly populated west coast of tasmania
continental airlines inc a unit of texas air corp said it filed a registration statement with the securities and exchange commission relating to 100 mln dlrs principal amount of senior notes due 1997 guaranteed by texas air corp
intek diversified corp idcc 4th qtr net
porsche expects improvement in us sales
afl cio president lane kirkland this year angered the administration in a statement that any trade bill reagan would sign would not be worth passage in congress
the conversion period is from may 20 1987 until september 18 1992
over 25000 tonnes of wheat rice flour and other cereals were required it said along with supplies of sugar lentils dried or canned fish and milk
henderson said the new us drug concern would basically act as a second sales force to double the exposure of its drugs to doctors
they said the facility which will be syndicated among a small group of the borrowers relationship banks is being put in place ahead of the privatisation of rolls royce in april or may
a spokeswoman said the distribution date for the split has not been determined
gilgore said the company intends to have sales of three billion dlrs by the mid 1990s
it is dwarfed by viacom
uniforce temporary personnel inc said it declared a three for two stock split payable may 15 to stockholders of record april 14
money has been coming back to mexico because of improved investor confidence and because a tight monetray policy has forced credit starved industries to repatriate capital
neti technologies inc said it has sold for over four mln dlrs us in cash notes and the assumption of liabilities its huron leasing inc subsidiary to a group of investors headed by a former huron executive
the issue pays four pct and is priced at par
severe drought is affecting about one third of sri lanka and threatens to reduce the countrys tea crop ministry of plantation industries officials told in australia concern is growing about below average rainfall levels in parts of the sugarcane belt along the queensland coast and in western australias wheat belt local meteorological bureau officials said
wilhelm christians said
for the 1987 crop he said prices are likely to hover in a range tied to the us loan program
corn guesses ranged from 22 mln to 26 mln bushels compared with 252 mln bushels a week ago and 224 million bushels a year ago
oper shr four cts vs one ct oper net 108000 vs 30000 revs 128 mln vs 148 mln note current qtr figures exclude operating loss carryforward gain of 57000 dlrs or two cts per share vs gain of 21000 dlrs or one ct per share
general signal corp gsx 3rd qtr net
brazils sarney renews call for war on inflation
since 1973 the us has given israel 25 billion dlrs in aid but most of it went to defense expenditures and financing military conflicts which were imposed on israel he said
a grain industry representative said some participants were puzzled by usdas apparent reluctance to bring before the cabinet council an eep wheat offer to the soviets
the company also said 5800000 dlrs of its convertible subordinated notes due 1997 have been converted into 728476 common shares
coopervision has 65 pct of cooper laser zaps 
the house of representatives has attached to a trade bill legislation that would temporarily deny mfn for romania pending certification by reagan that the country had made progress on human rights
den danske launches 200 mln dlr euro cd programme
court declines to block viacom via merger
shr loss six cts vs loss 84 cts net loss 219632 vs loss 163 mln revs 14 mln vs 28 mln note1985 net includes 155 mln dlrs of writedowns and tax benefit of 51294
alcan new zealand shareholders who accept the offer would also receive the final dividend of 10 cents a share normally payable on may 27
bankers declined to comment on todays meeting but said the panels response could be crucial to the fate of the talks which are now in their second week
oper shr profit four cts vs loss four cts oper net profit 151448 vs loss 170709 sales 115 mln vs 9581406 note prior year net includes 123650 dlr tax credit but excludes 52409 dlr gain on early debt retirement
pirelli uk international finance bv is issuing a 50 mln stg eurobond due april 9 1992 paying 10 pct and priced at 101 1 2 pct lead manager barclays de zoete wedd ltd
in its annual report the company also said it expects to maintain its current annual two dlr dividend on the basis of continued upward earnings
unilever dipped 33p to 3275 in a generally depressed uk market
baker filed a lawsuit in texas state court late yesterday to force hughes to abide by terms of the proposed consent decree
the central bank bought 108 mln stg of bills for resale to the market in equal amounts on april 1 2 and 3 at 10 7 16 pct
texas commerce plans to add more banks in san antonio and in the dallas fort worth area where it currently has only 16 member banks he said
waste management ends tender offer for chemlawn
swiss national bank president pierre languetin said a wider interest rate differential between the dollar and stronger currencies was needed to brake the dollars fall
there was also a lack of significant demand from major steel mills who made large purchases prior to the new year
federal reserve board vice chairman manuel johnson said the louvre accord is still healthy but said the united states and west germany must work out differences over their respective roles in fulfilling the accord
the british firm failed to win a four billion dlr deal to supply an advanced communications system to the us army in november 1985 despite personal lobbying by prime minister margaret thatcher
in 1986 the company earned 442 dlrs a share
johnstown american cos said it began a tender offer for the 500000 outstanding shares of its 1985 preferred stock
a mine official said that the fire broke out last night and about 25 of the miners made it to safety
morgan grenfell group plc 1986 year
more british gold articles hallmarked
the average price of rice fell 27 pct cotton was down 22 pct corn 18 pct wheat 16 pct and soybeans nine pct
spendthrift farm sfi to miss note payment
at the end of fiscal 1981 when reagan took office bad debt stood at 298 billion dlrs or 123 pct of total debt
but in remarks prepared for the signing ceremony he warned against complacency
rio de janeiro dockers strike
previously the initial monthly figure has had to be revised in subsequent months because of the time lag between the report and the compiling of final estimates on imports and exports
jostens corp said it agreed to sell its proprietary school business to careercom corp for 20 mln dlrs in cash and about 17 mln careercom common shares
the proposed acquisition by rosehaugh plc of the general funds investment trust plc was also cleared
it ensures firm demand at tomorrows tender one dealer said
nippon life staff will also acquire expertise in business sectors which have not yet opened up in japan they added
no export duty is applicable at this level against 3 8 cent per kg last month because the government raised the export duty threshold price to 210 cents per kg in early 1985
malta tenders for white sugar today trade
the iafmm said fish meal consumption in 1986 rose in west germany scandinavian countries eastern europe and the far east but fell in the us and remained static in the uk it added that fish meal consumption had suffered from competition with feed grade tallow in the us and with skimmed milk powder in the uk iafmm figures for fish oil production in the main producing nations in thousands of tonnes were oct dec jan dec 1986 1985 1986 1985 chile 22 8 109 76 peru 56 28 238 104 norway 14 14 97 130 iceland 44 52 102 118 denmark 20 18 88 77 us 10 8 152 129 japan 67 91 213 249
commenting on press reports about the 50 mln dlr price tag black said that would not be wildly inaccurate although he declined to disclose the actual cost
among the factors affecting liquidity it said bills maturing in official hands and the treasury bill take up would drain around 102 billion stg while below target bankers balances would take out a further 140 mln
this would be required by us banking regulations if the interest payments are more than 90 days overdue
acc corp 3rd qtr net
one western commercial attache here said devaluation of itself will not change anything
however the plan unveiled by senior federation of economic organizations official fumio watanabe does not specify what stake cable and wireless would have
a fund spokesman said an imf team would visit la paz shortly to discuss terms of the new agreement
bank of spain provides year record assistance funds
several experts say only one quarter to one third of the total in fact sells at official prices with some of the rest included in processing or barter deals or sold in the form of refined products
february retail sales jumped 41 pct more than the 25 30 pct rise the financial markets had anticipated
however pesch entered his second offer with representation from donaldson lufkin and jenrette securities and security pacific merchant banking group
but now japanese are going for blue chip organisations he said
ubs the us unit of union bank of switzerland won the issue in competitive bidding against syndicates led by such major us houses as first boston and morgan stanley
shr 24 cts vs four cts net 663000 vs 109000 sales 205 mln vs 139 mln six mths shr 48 cts vs nine cts net 1311000 vs 255000 sales 432 mln vs 300 mln avg shrs 2719205 vs 2804048
to do something more than that would be extraordinary remarkable and very very difficult collander said the real danger for congress was to end up short of the deficit reduction goal set by its budget panels
french finance minister edouard balladur discussed the need to control public spending in talks here today with british chancellor of the exchequer nigel lawson a treasury spokesman said
net service receipts were 223 billion dlrs in 1986 compared with 217 billion dlrs in 1985 the department said
the terms of the transaction were not disclosed
trump who was unavailable for comment is believed by market sources to have a sizeable position in ual which he began accumulating several weeks ago
in a filing with the securities and exchange commission gfi said it sold 114000 allied products common shares on march 3 at 42 dlrs each and donated another 4746 shares to two universities
at 130 dlrs a share ibms first quarter net income easily topped most estimates on wall street which had ranged from an even dollar to 120 dlrs
six months to dec 31
the sources said the question of to what extent price adjustments should be automatic remains a problem
hawkins said the merger has been assessed by independent consultants and declared fair in all respects with benefits to all shareholders
subsequently revlon withdrew its offer sold back to gillette the shares it owned at that time and entered into the standstill agreement
the international monetary fund imf has assured kenyan president daniel arap moi it will continue to give his country maximum support the official kenya news agency kna said
commerce clearing house inc cclr hikes div
patten pat calls convertible debentures
shr 72 cts vs 57 cts net 45 mln vs 36 mln revs 251 mln vs 219 mln year shr 247 dlrs vs 187 dlr net 156 mln vs 118 mln revs 891 mln vs 733 mln
advertising agents saatchi and saatchi co plc sachy said it was buying cleveland consulting associates inc for an initial consideration of 20 mln dlrs
malaysias manufacturing exports rose by 245 pct to 151 billion ringgit in 1986 chairman of the export promotion council ahmad sarji abdul hamind said
uae central bank cd yields rise
in addition keller said the company is selling more of its expensive model cars which are more profitable
american recreation centers inc amrc 3rd qtr
baker said spending cuts are clearly the best way to cut budget deficits
in these circumstances the buffer stock may only need to buy between 20000 and 30000 tonnes to lift prices above the must buy level
belgian unemployment based on the number of jobless drawing unemployment benefit fell to 121 pct of the working population at the end of february from 126 pct at the end of january the national statistics office said
a surplus in the countrys balance of payments narrowed to 32 billion baht in february from 46 billion the previous month but was higher than 15 billion a year ago
most companies cannot afford it george unzelman president of hyox inc said these proposals will place pressure on small refining operations and promote further industry consolidation an npra survey of of 139 refineries which was released at the conference said reducing sulphur content to 005 pct weight and aromatics to 20 volume pct aromatics in highway diesel fuel would cost refiners 665 billion dlrs
johnson said that cargill has been dealing with a two pct spread in certificate transactions and that this is within the normal grain marketing levels
microdyne corp mcdyo 2nd qtr may three net
the basic trend is towards stability a firs spokesman said
condon did not say who had made the predictions but an awb spokesman said there was a general industry feeling that farmers hard hit by low prices and rising costs could cut back plantings sharply
the bundesbank is expected to allocate more than the 34 billion marks which is due to be rolled over dealers said
traders said that as a whole the trade side was against re introduction of ico quotas while roasters were generally in favour with the single proviso that there had to be some formula basis for re allocating quota shares among producing countries
the belgian national bank bought foreign currencies against francs on the open market in the week ended march 9 a bank spokesman said
he said capel cure has deliberately set low commisstions because of this
aegon 1986 net profit rises 64 pct
in a speech to the san francisco chamber of commerce clausen said he was absolutely convinced bankamerica would return to its position of preeminence
huntington said new england elecetric has all but rejected new coal fired plants to supply additional power
i am sure that if such a management buyout is to occur and i am hopeful that it does the public market is one of the avenues we will ultimately have to use to raise capital brooks said
rjr nabisco inc said its 1987 first quarter results will include an after tax gain of 208 mln dlrs from the sale of heublein inc and offsetting charges
any such moves could meet with opposition among some cbt members
the central bank has issued 12 billion taiwan dlrs worth of one and two year savings bonds to help curb the growth of m 1b money supply a bank spokesman said
graham said he thought expectations would gradually improve later this year when the dollar might consolidate and interest rates ease slightly
dynamics corp of america said it has reached an agreement with cts corp resolving all differences between the two companies
hudsons bay to sell wholesale unit
they told correspondents in asian capitals a us move against japan might boost protectionist sentiment in the us and lead to curbs on american imports of their products
it added that the notes will not be subject to redemption for one year after they are issued
the measures are a part of the defense authorization bill which will be voted on in the house next month
there had been misunderstandings between the government and the oil industry in certain areas such as when a field is designated commercial and a thorough evaluation was being made
balladur urges g 7 to respect louvre accord
indonesia devalued its currency by 31 pct against the dollar in september to avoid a balance of payments crisis and has announced a series of measures since may intended to stimulate exports encourage foreign investment and revitalise the economy
the indonesian state owned oil company pertamina has found new offshore oil and gas resources in east aceh on the western tip of northern sumatra a company spokesman said
coca cola ko says rumors incorrect
shr five cts vs five cts prior qtr pay april 17 record april 3
in the latest attempt fujitsu ltd itsut japans biggest computer maker unsuccessfully bid for fairchild semiconductor corp a us microchip maker which supplies components for supercomputers
terra mines ltd tmexf year loss
the bank said in a statement the loan will be for 10 years with a five year grace period
the bank of france is to inject liquidity against first category paper at a tender this afternoon a bank spokesman said
the debate centers on a rule known as fasb 15 under which banks experiencing delayed interest payments on real estate loans need not set aside reserves against debt principal if it is believed payments will resume
even before coke denied the rumors analysts had been skeptical of a takeover since atlanta based coke has stated it views fast food chains as customers and does not want to become a competitor to them
lb nelson corp 4th qtr net
peabody added that it expects to announce within the next week how it will staff and operate the properties and offices it has acquired from eastern
qtly div 11 cts vs 11 cts prior pay april 17 record march 20
the price will be increased by it being likely to have much of its debt wiped off by a government anxious to assure the companys health when it has to fend for itself
wed sell it to the highest bidder miller said
economic analysts added however that any delay to exports served to aggravate brazils balance of payments crisis which last month prompted the government to suspend interest payments on 68 billion dlrs of commercial debt
it set a lira d mark rate of 42830 43044 to the mark up from 42915 43130
rapitech systems inc rpsyo 3rd qtr loss
this followed a small rise in january of 04 mln bpd but a decline of 15 mln bpd in february and 25 mln bpd in march
a rise in global interest rates might worsen the debt crisis and completely choke off us economic growth that has already slowed to a tepid 32 pct annual rate
he told the shortfall was a direct consequence of economic growth of nearly eight pct up from 51 pct in 1985 which he said resulted mostly from a surge in domestic demand
viermetz said it was only natural that markets should attempt to test the credibility of the paris accord struck when the dollar was trading at about 183 marks and 15250 yen
he said on the present repayment schedule yugoslavia would have a net outflow of two billion dlrs and the level of debt would be halved by 1995
it recently disclosed that it expects to report a profit in excess of 35 mln to 40 mln dlrs for 1986
outboard marine om rising on takeover rumor
federal withheld income taxes were up in february from a month earlier but that was offset by declines in federal nonwithheld taxes and lower state and local income taxes
about 30 pct of argosystems business comes from international customers
shr 1463 dlrs net 218 mln revs 2529 mln note company changed its reporting period to dec 31 from may 31
basf ag basff said net profit of its us operating company basf corp rose last calendar year to 105 mln dlrs from 39 mln in 1985
earnest debate on the buffer stock proposal is expected to begin late tomorrow as delegations feel the pressure of the approaching friday deadline when the icco meeting is due to adjourn delegates said
shr loss 48 cts vs loss 19 cts net loss 746000 vs loss 342000 revs 3213000 vs 2925000
this would mean an expensive exercise right on the edge but not impossible he added
the board of the holding company will have an equal number of directors from each institution
bank of england pressure holds base rates
it said a hearing to determine the amount of damages owed to the bank was set for april 21
exxon also said that it acquired 112 mln acres for expoloration spread over 10 countries including the us europe and the far east
white house and defense officials said today that massing of the fleet was routine and had nothing to do with the iran iraq war or irans recent stationing of chinese made anti ship missiles near the mouth of the gulf
funaro has rejected suggestions for negotiations with the imf and said there is no question of brazil agreeing to an austerity program with the fund
the merger would create the nations second longest railroad
pravda added today that the crisis in the industry had been drawn to zolotukhins attention and two of his deputies reprimanded
compaq reported earnings of 83 mln dlrs or 30 cts a share and sales of 144 mln dlrs for the first quarter 1986
a spokesman for enka declined to comment on the financial details of the deal
treasurys baker says there has been no change in us policy on dollar
westcoast transmission co ltd said it agreed to acquire the western canada oil and gas reserves and properties of agip canada ltd a subsidiary of agip spa part of italys eni group for 54 mln canadian dlrs
the notes and swap agreement are secured by a charge on 97 mln dlrs of the denmark bond
for the past two years the government has struggled with an economic reality that demands measures beyond those which it sees as politically practicable it said
it said the missiles had been deployed at two sites and quoted a naval analyst as saying they could be used to sink a supertanker and block the strait of hormuz
no talks set on proposed japan telecom merger
zambia will reintroduce a modified foreign exchange auction at the end of this month as part of a new two tier exchange rate central bank governor leonard chivuno said
the renegotiation conference under the auspices of the un conference on trade and development unctad is the fourth such meeting in two years
recent sugar fall sparks soviet chinese buying
the bonds are guaranteed by belgian savings bank aslk cger bank and have all been pre placed
the us agriculture department estimated canadas 1986 87 wheat crop at 3185 mln tonnes vs 3185 mln tonnes last month
dune resources dnlaf reserves rose in 1986
american said pearson succeeds william lyon who has been elected to amrs board
volcker departure revives dlr inflation fears
with irvings price so low bank of new yorks offer will look good to irving shareholders said michael flores a consultant at bank earnings international a consulting firm
showa denko ltd said it is exporting aluminium billet casting equipment and technology to countries that have recently begun aluminium smelting
shares of dome petroleum ltd posted their biggest gain in months in the us and canada as stock markets foresaw a takeover tug of war beginning for the debt heavy company
the appeal is unlikely to be heard for several months but a case brought by fellow itc creditor maclaine watson is to be heard on april 28
opec output for the whole of february was about 200000 bpd above the ceiling largely because of overproduction by the united arab emirates and kuwait the figures show
wtc has granted pittston an option to buy wtc shares equal to 185 poct of its outstanding stock
spending on major projects is expected to total more than 120 billion taiwan dlrs in 1987 88 compared to 89 billion in the current year he said
tin traders response muted to kl futures market
cominco had pressed for a three year contract and some loosening of the rules on job classifications
du plessis said the new interim debt agreement was substantially a continuation of the arrangement ending in june and calls for south africa to continue paying all interest on its total foreign debt of 23 billion dlrs
he expects consumer prices to rise about 4 1 2 pct this year
total vacancies available rose by 1900 to 26300 at end march
toshin steel owned 419 pct by nippon kokan and azuma steel owned 413 pct by nippon kokan are expected to decide by the end of march they said
processed palm oil stocks in february fell to an estimated 193060 tonnes from 205060 in january and 225576 in february 1986
recent examples were the rise in the financial rand and the sharp increase in foreign exchange reserves he said
bankers trust co will act as fiscal and paying agent
delta business systems inc said it has completed a previously announced merger into alco standard corp
funaro denied rumours that he had offered his resignation to president jose sarney
also as part of the merger nolans 21 principals have become peat marwick partners the companies said
shr 278 dlrs vs 255 dlr net 3020 mln vs 2716 mln revs 20 billion vs 21 billion
the governments perceived need to control inflation by keeping a tight rein on credit was unnecessary he said
unadjusted annual inflation for the seven leading industrialised nations in january was running at 44 pct in italy 39 pct in britain and canada three pct in france 14 pct in the us minus 08 pct in west germany and minus 15 pct in japan the oecd said
revlon said it had a 1986 operating profit of 643 mln dlrs compared to a loss of 133 mln dlrs in the year earlier period
new homes available on the market in january totaled a seasonally adjusted 362000 units unchanged from december and equal to a 63 months supply
the figures compared with 34 pct contraction and 12 pct growth respectively for the first and second quarters of 1986
this is a start and i venture to say a good one the treasury secretary said and he urged the audience of western and latin finance officials and bankers to stand fast against suggestions of solutions like debt relief
the total number of unemployed in february was 213200 against 215700 in january and 216600 in february 1986
shr primary 88 cts vs 83 cts shr diluted 84 cts vs 78 cts net 8869000 vs 8176000 avg assets 262 billion vs 242 billion deposits 206 billion vs 180 billion
these rates compared with averages of 547 pct for the three and 551 pct for the six month bills sold last week
quoting customs figures the paper said exports fell to 175 billion dlrs from 184 billion and imports fell to 206 billion from 23 billion
conference chairman manaspas xuto said legal drafting of the new pact will begin this week and it is expected to be formally adopted by some 40 countries on march 20
illinois co op futures dissolution vote set
but mizrahi said that opec is unlikely to do anything more than reiterate its agreement to keep output at 158 mln bpd analysts said that the next two months will be critical for opecs ability to hold together prices and output
qtly div 30 cts vs 30 cts prior pay march 31 record march five
imf assures kenya of maximum help
enetertainment marketing inc and its president elias zinn have demanded a list of crazy eddie inc shareholders from the company and said they may pursue a merger of the edison nj electronics retailer
norcros said any such benefits could be achieved through normal trading and did not warrant a closer formal association
anitec image technology corp antc 2nd qtr net
in december inventories fell a revised 34 billion dlrs or 06 pct to 58665 billion dlrs
but even beyond swap related activity dealers said the nature of trading in london has changed
the japan overseas economic co operation fund is to provide 260 mln dlrs towards chinas plans to improve its road network the official new china news agency reported
democracy in latin america must not be endangered because of misery or new injustices he said
nine month pre tax was 151 billion stg against 135 billion
favorable consumer response to our merchandise programs continued to positively impact our sales comparisons
shr 76 cts vs 51 cts net 5952000 vs 4374000 avg shrs 7837511 vs 7446356 note includes gains of 13 mln dlrs vs 239000 dlrs from benefit of tax loss carryforwards
the dot said the air line pilots association filed comments opposing the merger but raised no new facts or arguments under the merger terms announced nov
if youre going to take the risk inherent in exploration you need prices higher than the current market he added
the cyprus based newsletter also said authoritative libyan oil sources said libya was producing 850000 bpd compared with its 948000 bpd quota and that actual liftings are much lower than that
the company said it plans to complete the transaction which requires shareholder approval by the end of march
the other three lead managers are bank of tokyo citicorp international ltd and the industrial bank of japan ltd
harley davidson hdi unit to sell 10 year notes
however with the likelihood that oil prices would not repeat last years rapid drop the prospects for standard returning to profitability this year and bp benefitting from its cash flow were good
bangladesh to import 60000 tons of diesel from ussr
this compares with a 15 billion deficit in 1985 and while it is the first surplus since 1979 is substantially lower than the 50 billion surplus forecast by the previous socialist government before they lost office in march last year
they are public documents and there is nothing secret about it he told 
the january february employment statistics suggest the gross national product will show a healthy rate of growth for the first three months of this year said lyle gramley an economist with the mortgage bankers association
however the rate is above the 18 pct the lowest ruling rate set by the other major the australia and new zealand banking group ltd anzas on friday and effective today
a majority of the senate agriculture committee urged president reagan to reverse his opposition to export subsidies to the soviet union as a way to get its negotiators to purchase some 500 mln dlrs in american wheat
sweden raises fuel taxes to fund defence spending
y rough equivalent
as stated at the time of the original announcement the company said the payment will be made to holders of record march 31
the dollar mark and sterling started this week even lower heightening the chances of lively foreign demand for guilder denominated paper dealers said
under a merger agreement entered into in november tendered for up to 510 mln instinet common shares or about 45 pct of those not already owned by 
uk insurers could face more than 30 mln stg of insurance claims following the zeebrugge ferry disaster a spokesman for lloyds of london said
both increases are effective april 1 1987
usf and g corp fg raises quarterly dividend
in a filing with the securities and exchange commission wilshire which holds 417100 jacobs common shares said wilzig was appointed to the jacobs board of directors on march 3 after the companys annual shareholder meeting
about 12 billion dlrs of long term debt was affected
mccormick told reporters the isda was concerned that a level playing field be maintained in the swaps market
chemlawn now has about 100 mln shares outstanding
the other business are two companies involved in the wholesale distribution of groceries and health and beauty aids it said
the european community ec sold 75000 tonnes of soft wheat at a subsidized price of between 85 and 89 dlrs per tonne fob for march delivery in a continuing bid to establish itself in the brazilian wheat market the us agriculture department said
sichuan has experienced temperatures three degrees centigrade higher than normal and rainfall up to 70 pct less than normal since early february affecting wheat oil bearing crops rice planting and dryland cash crops it said
antwerp lagos 12000 mt bagged sugar 750 750 try liner discharge 5 20 4 a c e d and f man
at the same time federated said it will ask shareholders to approve an increase in the number of authorized shares to 400 mln from 200 mln
leigh pemberton opposes takeover protection rules
lucht will continue to function as a unit of innovex innovex said
profit taking which robbed the currency futures of some momentum today is likely to continue he said
philip crosby associates inc said it expects its audited results for 1986s fourth quarter to be lower than its previously estimated 10 to 15 cts per share
there was more demand and less on offer in the market one dealer told 
leigh pemberton also called on companies to improve ties with institutional investors suggesting representatives of those institutions be granted seats on the boards of directors of companies they invest in
the company said it omitted the common dividend to cover both losses from a commercial ship conversion contract and increased reserves for previously announced discontinued shipyard operations
the independent directors of viacom were called into a meeting today
this should discourage banks from bidding high to ensure that they were successful while paying the lower marginal rate analysts said
japan central bank actively buys dollars in tokyo
bank negara said it subsequently took up the unsubscribed shares totalling 1355 mln of uabs new paid up capital of 22874 mln ringgit
shr 28 cts vs 22 cts net 14 mln vs 106 mln revs 1638 mln vs 1273 mln year shr 81 cts vs 59 cts net 405 mln vs 287 mln revs 5212 mln vs 3916 mln
in a vancouver address crosbie said versatile pacific shipyards inc was the low bidder to build the arctic class 8 icebreaker but the company must meet certain financial and engineering conditions before the contract is awarded
the cut follows announcements of cuts yesterday by citibank ltd to 1600 pct from 165 effective today and commonwealth bank of australia to 1575 pct from 1625 effective june 24
any further sharp decline of the dollar would hinder washingtons efforts to reduce its trade deficit stoltenberg told a news conference on tuesday
the issue has been designated the b tranche of the bonds since 13 billion stg of 8 3 4 pct treasury loan stock due 1997 is already in issue
the issue involved was launched in 1984 and matures on november 15 2004
group has 64 pct of atlantic research atrc 
wainocos said its shareholders purchase rights distributed to the shareholders in june 1986 are unaffected and remain valid
the 13th annual top level meeting of the major industrial democracies will take place against a backdrop of rising congressional concern over reagans plan to protect gulf shipping and demands that the allies do more
indonesias raw sugar output is likely to be 18 mln tonnes in calendar 1987 unchanged from 1986 and below the governments 1987 forecast of 25 mln the us embassy said in its agricultural outlook for 1987
pace also said it may purchase additional outstanding notes in the future
foreign firms have invested 21 billion dlrs on offshore china since 1979
in the previous auction for 1000 billion yen the four majors took 92 pct of the issue to increase their tankoku inventory the managers said
1987 includes gain on disposition of investments of five dlrs in 3nd qtr and 7052 dlrs in nine months
unocal corp said its union oil co of california unit is making a public offering of 450 mln dlrs of long term notes
shr 22 cts vs 24 cts net 2794000 vs 2993000 revs 914 mln vs 664 mln six mths shr 45 cts vs 39 cts net 5677000 vs 5700000 revs 1746 mln vs 1328 mln note 2nd qtr end august 31
iea sees one pct growth in 1987 oecd oil demand
matsushita electric industrial co ltd mct said it will issue a 200 billion yen unsecured convertible bond in the domestic capital market through public placement with yamaichi securities co ltd nomura securities co ltd nikko securities co ltd daiwa securities co ltd and national securities co ltd as underwriters
imports from europe rose to 182 mln us dlrs from 148 mln the official said
national bank mortgage corp is issuing a 100 mln canadian dlr eurobond due may 18 1992 with a nine pct coupon and priced at 101 3 4 pct mcleod young weir international ltd said as lead manager
but s and p said it considers coverage a little weak
but profits in balfour beatty were substantially improved
texaco shares were being indicated by over the counter share dealers here at around 26 to 28 dlrs compared with fridays close in new york of 31 7 8 dlrs
zayre corp zy 4th qtr jan 31 net
dollar considerations will prevent them from easing anytime soon but they cant tighten with the economy weak and the banks having to deal with brazil doubts on the economys strength were underscored not only by a smaller than expected 164000 gain in march non farm payrolls but also by a downward revision in februarys gain to 236000 from a previously reported 337000
the bank of england said it had invited an early round of bill offers from the discount houses
its not really that expensive
innovex inc said it has completed the purchase of substantially of the interest in lucht engineering inc that it did not already own
gross revenues from the first six projects are expected to exceed 500 mln dlrs over their life cycle york said with revenue and income expected to start flowing in 1988
burlington industries inc bur offering of 100 mln dlrs of sinking fund debentures due 2017 through kidder peabody and co inc and an offering of 75 mln dlrs of convertible subordinated debentures due 2012 through an underwriting group led by kidder peabody
citicorp savings proposed to assume two billion dlrs in deposits and other liabilities and to purchase 19 billion dlrs in assets of 50 branch offices of sears savings
banks were well stocked up with funds having an average 521 billion marks in bundesbank minimum reserves in the first 24 days of march well above the 507 billion requirement
the february total represented a 49 pct decrease from february 1986
in the same year ago period the company reported net income of 366953 dlrs or 18 cts a share
a national bank spokesman said the latest adjustment would bring the rates closer in line with currently prevailing interbank interest rates
quaker oats co said it filed a shelf registration with the securities and exchange commission covering up to 250 mln dlrs in debt securities
news today including opec president rilwanu lukman statement that opec february production did not exceed its official quota of 158 mln barrels per day helped bouy prices traders said
woodhead faulkner founded in 1972 publishes international banking finance and investment books
bilzerian says if pay npak signs merger accord he will tender for 75 mln shares
brown forman said the split of its class a and class b common shares would be effective march 13
the request will be made when export certificates have been granted for all the 500000 tonnes the agpm said
we prefer to wait until things are better prepared he told 
pentland to reduce reebok rbk holdings
the consortium would infuse up to 550 mln dlrs in turner broadcasting in return for a 35 pct equity interest
the missouri with its four escort flotilla is likely to make iran think twice about using the missiles diplomats said
tribune co said it completed the sale of the danville va cable television system to cablevision industries ltd partnership affiliated with cablevision industries inc of liberty ny it said the danville system was one of two systems acquired by tribune on september 30 1986 as part of its purchase of the daily press inc publisher of the newport news daily press and the times herald
texas air corps eastern airlines said it completed its previously announced plan to sell its travel agency automation system systemone direct access inc and its computer and communications support unit eal automation systems inc to systemone corp a wholly owned subsidiary of texas air corp
retail services employment rose 129000 in february compared to a gain of 117000 in january previously reported at 166000
the effect should be to rule out any us interest rate rise
market sources said the bank had in its discussions with the dealers about the upcoming auctions agreed that the allotment commission was reasonable if the dealers had a concurrent commitment to buy at the auction regardless of market conditions
but year on year growth is expected to be about two pct
he said the effect of the tax would be to double the price of soyoil produced from imported soybeans making margarine made from soyoil more expensive than tallow based margarine and closer in price to expensive european butter
pakistan consumer price index falls in january
excess liquidity pushed wholesale and consumer retail prices higher in 1986 87 on previous year levels rbi governor r
traders projected soybean exports at 15 mln to 16 mln bushels down from 203 mln bushels a week ago and 255 mln bushels a year ago
valex petroleum inc valp year dec 31
the usda monthly cold storage report for meats is expected to have little if any effect on livestock and meat futures at the chicago mercantile exchange monday and daily fundamentals will likely provide the bulk of direction livestock analysts said
non callable for two years the issue is rated ba 3 by moodys investors service inc and bb minus by standard and poors corp
texaco refining and marketing inc is being awarded a 841 mln dlr defense logistics agency contract for jet fuel the defense department said
the gmac financing seemed tailor made for those retail investors commented one underwriter away from the syndicate
united tote inc tote 1st qtr jan 31 net
hal roach hrsio robert halmi rhi to merge
the underlying trend which is a guide to bank of england operations to support the pound on foreign exchanges is net of borrowings and repayments
the issue was lead managed by ibj international ltd and was quoted on the grey market at less 1 7 8 less 1 3 4 pct compared with the total fees of 1 7 8 pct
some governments including austria had linked their final approval to other trade credit issues which would be discussed at a meeting here in mid april they added
citicorp said yesterday that its proposal would allow dixons to raise its tender price to 9325 dlrs per share
french 1987 growth will probably be about two pct the same as last year due to an international environment that is less favourable than expected finance minister edouard balladur was quoted as saying
swiss franc notes issued after may 1 must be provided with a prospectus virtually erasing the difference in information requirements between notes and public bonds according to a convention drafted by the bankers federation
housing starts in september were down 12 pct from a seasonally adjusted 1689000 units in september 1986
although the senators said baldrige told them no decision would be taken until a final determination is made on whether japanese microchips were dumped in the united states they said they were virtually sure japan would face penalties
proceeds will be used mainly for the acquisition of additional woods products manufacturing facilities and related properties wtd said
correction non communist february aluminium in todays london item non communist february aluminium output up ipai please read in first paragraph and throughout daily average primary aluminium production correcting from average unwrought aluminium production
during the whole of the season from july 1985 to june 1986 dutch soymeal usage fell 12 pct to 19 mln tonnes from 21 mln the previous season while sunmeal usage rose 25 pct to 408000 tonnes from 325000
irt property launches debenture in euromarket
wessberg said the new method cut the number of unemployed by about 16 pct
at the same time the deal benefits the banks which will still get a reasonable return on the note facility which is pure italian risk
the proposal is subject to approval by gates learjets board
its 1986 revenues totaled 12 mln canadian dlrs
the figure compared with a surpluses of 117 billion dlrs in 1985 101 billion in 1984 and 293 mln in 1983
ab volvo is issuing a 70 billion eurolire bond due may 31 1990 paying 10 1 8 pct and priced at 100 1 2 pct lead manager banca commerciale italiana said
the cocoa market is completely free
banks in canada although allowed to wait up to 180 days before declaring loans on which they are receiving no interest as non performing usually move on such loans within 90 days
greenspan just does not have the intuitive feeling one banker said
in the us it all has to do with the general ethic of free competition while in europe the general approach is that liberal trade is good because it makes countries rich wolf said this basic us attitude explains washingtons tendency to impose so called countervailing duties an import tax designed to offset advantages alleged to be unfair
rice milled basis 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 2471 2475 2216 2216 production 31790 31890 32012 32005 imports 1056 1063 1168 1170 dom
he told a lower house budget committee in parliament that the bank of japan would continue to cooperate closely with other major nations to stabilize exchange rates
but it said the loss was offset by a 25 mln dlr gain on the sale of common shares of sea land corp a unit of csx corp csx
bernstein said the unit had operating earnings of 132 mln dlrs last year and he expected it to earn about 175 mln dlrs this year
the washington based ida is the world banks affiliate for concessionary lending
shr 58 cts vs 57 cts net 4313000 vs 3824000 sales 728 mln vs 615 mln avg shrs 7492000 vs 6740000 year shr 133 dlrs vs 123 dlrs net 9592000 vs 8257000 sales 2264 mln vs 1844 mln avg shrs 7228000 vs 6740000
canadian utilities ltd said it will redeem all its 145 pct cumulative redeemable second preferred shares series g on may 1 1987
however before the talks began tanjug said the agreement should cover 16 billion dollars of debt due this year and 35 billion due in 1988
the company also said 1987 capital and exploration spending of 420 mln dlrs will be 160 mln dlrs lower than last year due to the uncertain short term outlook
the central government does not have enough money to meet their needs
us senators seek to expand usda export bonus
this brought consumption back down to the december 1986 level it added
the refinery has a capacity to process up to 110000 bpd of venezuelan high sulphur content heavy crude with an 80 85 pct yield of white products
coca cola bottling co consolidated said it has agreed in principle to sell its vancouver based canadian bottling subsidiary to coca cola co ko for undisclosed terms with closing expected within 60 days subject to regulatroy approvals
there are signs that central banks too realize the futility of swimming against the tide
malaysia the worlds top producer acted as spokesman for producers at the talks which began on march 9
he estimated this cost at about 200 mln dlrs a year
shares could also be sold in a copper mine empresa nacional tintaya sa in the southern state of arequipa
after meetings at the economics and foreign ministries this morning he said the dutch government had indicated it would vote against the proposal as had a number of other countries
the eliminations caused losses of three mln dlrs compared to six mln dlrs in the year
outflows for us direct investment abroad fell to 57 billion dlrs from eight billion dlrs in the third quarter
the legislation was prompted by a growing us trade deficit that hit 156 billion dlrs last year and is still rising
during the year the company began operating a sulphur granule plant with capacity of 4000 tonnes per day the report said
hecht formerly chief executive will act as chief operating officer
british telecom will also seek to expand into manufacturing he said adding that research and development expenditure will rise both in terms of value and compared with the current proportion of two pct of overall turnover
us treasury secretary james baker said any attempt to declare blanket debt forgiveness for major latin american debtor nations might damage the world economy
the aim of the amalgamation is to limit regulatory and administrative costs and achieve the recognition required under the 1986 financial services act
this action is not helpful in the context of the ongoing us canada free trade talks or in the new round of multilateral trade negotiations lyng said in a statement
the loss reflected a combination of strikes plus scheduled and unscheduled refinery shutdowns for maintenance and inventory losses caused by government controls on both crude and product prices mobil said in a statement
uk building society taps eurosterling market
the west german federal railway is raising 900 mln marks through a 10 year loan stock on the domestic market with a coupon of 6 1 4 pct and price of par a bundesbank spokesman said in response to enquiries
pye tvt designs and manufactures broadcast transmission equimpment specializing in television frequencies
the issues are aimed at curbing the growth of m 1b money supply which is the result of large foreign exchange reserves the official said
centronics cen sets preferred purchase rights
exxon corps domestic subsidiary is already marketing the 89 octane unleaded gasoline along much of the east coast
onic also will hold a tender june 9 for 65000 tonnes soft wheat under the european community food aid programme for shipment in bulk during august the official said
fed may add reserves economists say
because of uncertainty about exchange rate developments and economic weakness other factors should be taken into account
esso singapore pte ltd said it raised pump prices of petrol from today
gm gm march us car output rises
the borrower is the wholly owned international holding company subsidiary of svenska finans ab a subsidiary of svenska handelsbanken sweden
in 1986 diamond shamrock produced 82473 mln barrels a day of oil with 83 pct of that from indonesia while gas output was 2656 mln cubic feet a day of which 98 pct was in the us blackburn said that he believed he could find oil to replace this production at low costs which were 497 dlrs a barrel worldwide and 388 dlrs a barrel in the us blackburn also said that the company would be willing to buy reserves if we can find the right producing properties at the right price blackburn estimated that oil prices will average about 18 dlrs a barrel this year with average prices received for natural gas at 157 dlrs per thousand cubic feet
each two warrants allow the purchase of one common share at six dlrs through june one
buehler international inc bulr 4th qtr net
this year we have a crop of 35 mln bags we have economic problems and we are not in a position to do favours
philippines criticises ec for vegetable oil levy
the conservative party and the countrys largest trade union called this week for the debt to be rescheduled following the price drop
central banks have sufficient experience of exchange market transactions to steer exchange rates where they want to have them he said
correction ashton tate item in torrance calif item ashton tate tate 4th qtr net please read 1986 quarter average shares as 247 mln not 2007 mln
the bonds pay 7 1 2 pct and were priced at par
earnings in 1986 before extraordinary items were 74 mln dlrs
ipecode said demand and production would develop in parallel this year in contrast to last year when production was unable to keep pace with the strong rise in domestic demand unleashing higher import demand
nj nicholas president and chief operating officer said soctt foresman will have over 200 mln dlrs in revenue in 1987
donegal group inc which today reported earnings of 155764 dlrs on revenues of 6506792 dlrs for the period from august 26 startup through the end of 1986 said it expects much improved profits for the full year 1987 on revenues of about 32 mln dlrs
of the 28 mln tonnes total 15 mln tonnes will be wheat 12 mln tonnes coarse grains and the remaining one mln tonnes miscellaneous grains and pulses usda said
he would also not comment on when a better alternative might be developed
woolworths variety store operations were hard hit in the 1970s and early 1980s by the quickly growing discount store industry
as official washington sought to restore investor confidence after mondays wall street collapse treasury secretary james baker came under fire from critics who claimed he helped to precipitate the crisis
gencorp also received 257 dlrs after tax from the sale of rkos wor tv
shr 371 dlrs vs 95 cts net 2338 mln vs 628 mln revs 9978 mln vs 9380 mln nine mths shr 506 dlrs vs 224 dlrs net 3272 mln vs 1480 mln revs 300 billion vs 270 billion note realized investment gains net of taxes for 1987 3rd qtr and nine mths were 1470 mln dlrs and 2710 mln dlrs respectively
st
washington however was not satisfied with the cuts and pressed for more reductions as a way of cutting its huge trade deficit with taipei
however the letter also allowed room for an extension of that date to april 23 if an agreement could not be reached
it said negotiations continue with the banks but has no assurance that such funding will continue
meanwhile bankers were to hear in new york this afternoon what impact brazils hard line would have on argentina with an initial presentation from argentine treasury secretary mario brodersohn on his countrys request for 215 billion dlrs in new loans and a multi year rescheduling agreement
analysts in the past have criticized ibm for not moving faster to integrate rolms telecommunications products with its computer systems
feds johnson warns against lower dollar
mcgraw hill mhp buys harper row hpr unit
altex said it expects to close the transaction which is subject to financing in july
in its control application twa had acknowledged that additional documentation was required to meet dot rules and said it would file more material on the morning of march 9
brito said the centre west whose crops include soya and maize had between 30 and 40 pct of the nations grains production but only 20 pct of its storage space
eaton vance corp eavn 1st qtr jan 31 net
gros said that during their 12 day globe trotting tour of several countries he and finance minister dilson funaro warned creditors that brazil could no longer continue representing the role of merely an exporter of capital
iranian premier mir hossein mousavi reiterated his country would retaliate for us navy attacks on gulf oil platforms
terms were not disclosed
refinery crude runs in the four weeks were 1221 mln bpd up 22 pct from 12 mln a year earlier it said
stoltenberg noted that in 1986 bonns exports fell by a nominal two pct while its nominal imports fell by 107 pct
argentina has threatened to emulate brazils payments moratorium if the banks do not grant its request
it has an average life of 1349 years and matures 2018
kayaba industry co ltd is privately placing 50 mln swiss francs of five year straight notes with a 4 3 4 pct coupon and 10025 issue price lead manager credit suisse said
jones and vining said its board believes that a transaction with vulcan would be difficult to complete but it has asked vulcan for further information to explore the bid
chemlawn corp chem could attract a higher bid than the 27 dlrs per share offered by waste management inc wnx wall street arbitrageurs said
company representatives were not immediately available
year 1986 and prior excludes loss discontinued operations 3509000 and 5278000 respectively
uk retailers see growth in consumer spending
to enroll in the 1987 feedgrains program farmers have to set aside 20 pct of the program acreage base and have the option to idle an additional 15 pct under a paid land diversion program
asea group the diversified industrial concern based in vasteras sweden said it expects 1987 earnings after financial income and expense to be flat compared with 1986 when it earned 253 billion swedish crowns or 3711 mln dlrs
a centromin spokesman said the managers of the mine at cobriza could always ship the the mineral by road to the coast for export if the train line continued interrupted
unadjusted m 2 plus cds rose a preliminary 88 pct in january march 1987 compared with a nine pct rise a year earlier it said
bps partner is galactic resources ltd of toronto
it floated its currency slashed spending and privatised industry gaining praise from western creditors and obtaining debt rescheduling
asked what it meant for uk monetary policy he said no i do not think there are any immediate implications
if irving wouldnt go with the offer at 80 dlrs a share then they wont go at a lower price another analyst said
the agency cited the larger financing in its action and said it believed the issuers cash from existing operations would not be enough to adequately service debt
datrons officers hold about 73 pct of the total 896000 datron common shares outstanding it said
supermarkets general is expected to report about 170 dlrs a share compared to a 173 dlrs a share reported for 1985 on a post stock split basis
this was our second best year pushed by a good supply and demand balance for products low feedstocks and energy costs for our operations silas said in 1987 we think the markets supply and demand balance will be just as good but feedstock and energy costs will rise due to price recovery
for the interim period however we concluded that the responsible procedure would be to record income only as we receive payments on the loans he added in a statement
the company could not say what percentage the increase reflects from current prices nor could it say how much per ton the products sell for currently
cigra inc of chicago won a contract to supply 33000 tonnes at 9689 dlrs per tonne for november 25 december 10 delivery
hoechst attributed the 12 pct rise in parent company pretax profits to 182 billion marks above all to a rise in earnings from interest and holdings in other companies and a fall in extraordinary costs
bank dealers said the taiwan dollar has stabilised against the us currency this week after rising two to five taiwanese cents a day between june 2 and 13 compared with a rise of five to eight cents in may
april shipments traded down to 326 dlrs per tonne fob
gencorp gy names financial advisers
it added that it had appointed david lyon currently managing director of redland plc rdldl as its new chief executive
the new plan will define the terms on which brazil will seek rescheduling of its 109 billion dlr foreign debt
australian crude output falls in first nine months
a spokesman for a group of united airlines employees who oppose the attempted takeover of united by the airline pilots association said he met with the new chairman of allegis frank olson
the rating agency cited home shoppings plan to issue additional debt thereby increasing leverage
the move will enable the exchange to concentrate on the cash settled contracts introduced last year
this would buy time for japan and west germany to speed up their economic growth and help bring down the us trade deficit
retail clients just dont want to know about the floaters any more so it has degenerated to a wily pass the parcel among the professionals all scheming to sweep the paper under the carpet another senior frn trader said
we dont think agreements are the best instrument to help developing countries
investment tax credits three mln dlrs vs 8900000 dlrs in quarter and 4900000 dlrs vs 164 mln dlrs in year
the securities are available in denoninations of 10 mln yen each and will be listed on the luxembourg stock exchange
he said allied lyons has a two year call option that could force gulf canada to sell its 49 pct stake to allied lyons and gulf canada has a two year put option that could obligate allied lyons to buy its 49 pct
resorts international inc said it received a proposal from ksz co inc under which holders of resorts class b stock would receive 140 dlrs a share in cash and one share of common stock in a new company to be formed through the takeover
a bundesbank spokesman said in answer to enquiries that the withdrawal of funds did not reflect a tightening of credit policy but was to be seen in the context of plentiful liquidity in the banking system
invacare is aggressively seeking acquisitions to complement the companys existing product lines mixon said
mexico to sign loan amid calls for change
supreme equipment systems corp seqp 2nd qtr
it said it will promote a vigorous exploration program in the areas for the rest of 1987 and in the future
cocoa deal seen positive but no price guarantee
aside from holiday inns and new world pictures i cannot remember the last time an issue was downgraded so soon after the pricing remarked one corporate bond trader
france to sell stake in societe generale unit
property firm raises one billion hk dlr loan
the government of alberta also converted a 25 mln dlr debenture into common shares and converted about 25 mln dlrs of shareholders loans into common shares the company said
the initiative while widely heralded as a good first step toward improving the the growing debt crisis was viewed by some at the imf as a rebuke of previous austerity measures insisted upon by the fund in return for loans
it said the facility which is half underwritten and half non underwritten has been over subscribed and underwriters allocations are reduced from the original commitments
ecuador adopts austerity measures after quake
quaker oats co oat regular dividend
joint ventures are the principal instrument for allowing the resources of the industrialized countries to be channeled to the developing world so as to lead future growth for both reviglio said
kuwait has backed iraq in the seven year war against iran and its ships have increasingly been the target of iranian attacks
he also said the tax rate in 1987 will remain at just under 50 pct because of the repeal of investment tax credits and higher state and local taxes
the elevator operated by archer daniels midland co
an aide to glickman said that it will probably be introduced next week
it very well could be someones interested but freedman said he doesnt believe now is the right time for wendys to be sold
the recent rise in prices has placed producers on the alert manuel rico a consultant with the group of latin american and caribbean sugar exporting countries geplacea told 
national distillers and chemical dr expanding
the company said the split is subject to shareholder approval at the april 15 annual meeting of an increase in authorized common shares to 10 mln from five mln
all wheat 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 acreage mln acres planted 720 720 756 756 harvested 607 607 647 647 yield 344 344 375 375 supply mln bu start stcks 1905 1905 1425 1425 production 2087 2087 2425 2425 total supply x 4007 4007 3865 3865 x includes imports
deputy energy minister fernando santos alvite told a television interviewer that it could possibly take more than a month to repair ecuadors main pipeline linking amazon basin oil fields to the pacific ocean coast
for the time being we just await developments
if they do its not evident it looks like theres no cure but to let the free market take values to where they should be
us home loan banks set 2135 billion dlr offer
glynwed international plc glynl 1986 year
the move by foreign exchange markets to test the strength of the paris currency accord has thrown into question the near term outlook for sterling until recently one of the main beneficiaries of the agreement analysts said
the trade report on a balance of payments basis excludes such factors as military sales and the costs of shipping and insurance
analysts estimate the tax relief will save larger oil companies about 150 billion dlrs by the end of 1988
the spokesman contacted by telephone said only one third of car ferry the herald of free enterprise owned by the british company townsend thoresen remained above water
above normal february temperatures over the north china plain caused winter grains to break dormancy early in the south
yugoslav 1990 steel output to hit 63 mln tonnes
stocks surged after news chemical bank cut its prime lending rate half a point to 925 pct tuesday and us fed chairman alan greenspan pledged support for the financial system
the official speaking from strike headquarters in rio de janeiro said up to 30000 of brazils 40000 seamen were still on strike
it said the frame would reduce vehicle weight and cost while maintaining structural integrity and crashworthiness
sales of 41800 tonnes of barley were 10 times the previous week and 10 pct greater than the four week average
shr profit two cts vs nil net profit 403000 vs loss 51000 revs 9609000 vs 4495000 nine mths shr loss one ct vs loss four cts net loss 171000 vs loss 799000 revs 176 mln vs 133 mln note full name is strathcona resource industries ltd
construction and civil engineering boosted by a rise in public works also improved while retail trade sales in all sectors continued to slow
japan is also not totally happy with the administrations trade bill particularly its proposal to establish reciprocal access to foreign markets as one criteria for retaliatory trade action by the us officials said
economics ministry spokesman dieter vogel said in a statement bangemann had contacted him from new zealand where he is attending a general agreement on trade and tariffs gatt ministerial meeting to deny giving the interview to the conservative daily die welt
exercise involving the purchase of about three mln new america west shares for 1050 us dlrs each was scheduled to be finalised in july or august he said in a statement
manufacturers hanover corp said its ofp inc unit acquired a dallas office building through foreclosure
semegran expects first quarter earnings of about 185 dlrs a share from 167 dlrs last year
the company must open 10 stores within the next two years to maintain exclusive license rights in the territory it said
he said in a television interview the dispute had fanned fears of a breakdown in the cooperation which is so important between finance ministers of the major nations
the conversion price has been set at 1004 yen a 393 pct premium over todays 966 yen close
paradoxically it is the pick up in the economy that is partly to blame for the stock market collapse as companies have shifted funds away from financial investments to increase inventories and step up capital spending one government economist said
dome said the steep drop in crude oil and natural gas operating income was due to write downs totalling 193 billion dlrs and lower energy prices that sharply reduced revenue
he said the us economy should expand by nearly three pct during 1987 aided by higher exports to europe and canada
canadian money supply m 1 falls 116 billion dlrs in week bank of canada said
zaire accepts tin export quota atpc says
us naval forces attack iranian oil platform
inelectra kellogg said is a major venezuelan engineering firm
gulf barge freight higher in nearbys on call
first union func files 100 mln dlr notes issue
to stabilise the dollar at too high a level is wrong he said
lsb bancshares inc lxbk raises payout
they say it is not feasible for america to withdraw its 30 ship force from the gulf area where the navy began escorting us flagged kuwaiti tankers in july
while exports have been delayed by the strike exporters say the problems have been manageable
wed need some assurances from them the soviets that they would buy if offered the wheat under the subsidy plan he said
west european nations have so far shown little enthusiasm for backing a us plan to give military protection to merchant ships in the gulf which could help insure the safety of oil supplies
the facility will include a tender panel to bid for multi currency cash advances at a maximum rate of 01875 pct over the london interbank offered rate
atico said in connection with the acquisition it will apply to become a registered bank holding company and convert its 99 npct owned atico savings bank subsidiary to a state chartered commercial bank
financing terms of the proposed acquisition are unknown including afgs equity contribution to the partnership
our company is in sound financial position and production financing can be readily arranged when required
farmers and merchants have alleged a squeeze and cornering of the market but harris pointed out that recent investigations by the association of futures brokers and dealers afbd the international commodities clearing house icch and other parties found no evidence to substantiate this
the resolutions will be considered at the april 9 annual and special meeting the company said
shr 13 cts vs 37 cts net 1300000 vs 3700000 sales 189 mln vs 163 mln
the current account surplus which includes trade in services as well as goods climbed to 738 billion dlrs last month from 495 billion in january and 389 billion a year ago
he added that both japan and the united states must take account of the impact of their dispute on their own and the world economy
the us agriculture department projected an average yield of 147 gallons of frozen concentrated orange juice per box 420 degree brix equivalent from floridas 1986 87 crop
it said it expects the offering to close in may
sonex research sonx custom auto uses more gas
icco council agrees cocoa buffer stock rules
however manufacturers hanover said that in light of current circumstances it was more appropriate to record income on its brazilian loans only when cash payments were received
the new 1987 tax laws will not hurt the economy and the tax reform act of 1986 significantly lowers tax rates and will greatly increase private production incentives he said
macandrews said it will promptly file revised tender offer material with the securities and exchange commission
shr 11 cts vs 22 cts qtly div 10 cts vs 10 cts prior net 548254 vs 1138978 revs 28 mln vs 311 mln year shr 50 cts vs 134 dlrs net 2527846 vs 6822293 revs 1117 mln vs 1189 mln note qtly div payable december 4 to shareholders of record november 13
rates stood at 121 pct at the start of the year and have been increased to drain liquidity on rising demand for funds
usda to update winter wheat acreage tomorrow
general motors corp said its pontiac division has established an interest rate support incentive program effective immediately as an alternative to its current option bonus program
brown group inc bg 1st qtr may 2 net
malaysia seeks 42 billion yen pipeline loan
the hong kong trader said calendar 1987 imports will be slightly less than those of 1986 because of firm world prices and serious foreign exchange constraints which he said are likely to continue until at least end 1988
the dealers bid was previously blocked by the ontario securities commission because the offer excluded holders of canadian tire class a non voting shares which make up about 96 pct of company equity
in addition on june 25 the gabelli group proposed to acquire all of di giorgios common shares for a combination of 20 dlrs per share in cash a subordinated note with a face value of eight dlrs and one common share of the post buyout company
the banks lending last year consisted of 63 loans totaling 304 billion dlrs bringing the agencys cumulative lending to 3544 billion dlrs
montreal trustco issues canadian dollar eurobond
colombia blasts us for coffee talks failure
one japanese trader said domestic demand is rising rapidly because of improving living standards and rising demand for sweet drinks cakes and biscuits and other sugary foods
renewal of us ussr grain pact said uncertain
borg warner corp said it has had discussions with irwin jacobs on his interest in the possibility of minstar inc mnst a jacobs controlled company being given access to certain non public information about borg warner
the committee said the bp refinery which lacks a de sulphurisation plant was likely to be closed or sold unless costly investments were made to enhance the facilitys capacity to refine a broader range of products
iran leader vows revenge on us raid in coming days
the first two billion franc tranche carries a fixed interest rate of 830 pct with a life of 11 years 316 days and redeemable en bloc at par at the end of its life
corporate bond prices closed on friday at 27401 up from the indexs initial value of 10000 on december 31 1979 the agency said
he said stocks were about normal at 90000 tonnes
if we are going into an auction system we need to have some form of market test of the stock were bidding for said simon hartnell head trader at primary dealer alexanders laing and cruickshank gilts ltd
reagan imposed the sanctions on april 17 in retaliation for japans failure to honor commitments to end dumping semiconductors in world markets at less than production costs and to open its own market to us goods
an extraordinary meeting of astras board proposed the creation of b free shares open to foreign buyers with one tenth of a voting right per share
trade reports circulating the london metal exchange said the vessel en route to new orleans from newcastle new south wales had been carrying 10000 tonnes of lead concentrates
each of the 17 current foreign securities houses in the syndicate underwrites 007 pct of each issue they said
essex chemical corp esx regular dividend
newmont realized 1168 mln dlrs in the transaction
the estimated 1986 results are based on 3207000 shares outstanding compared to 2566000 shares outstanding for 1985
olin corps olin hunt specialty products inc said it acquired image technology corp for undisclosed terms
ongpin said manila would have to repay about 200 mln dlrs a year when amortisations on the 925 mln dlr loan came up
south koreas gross national product gnp is forecast to grow by nine pct in 1987 surpassing the governments original forecast of eight pct and against a 125 pct rise in 1986 an economic planning board report said
new jersey resources njr to offer shares
if a definitive agreement or transaction results from any of the offers now pending for the companys stock becor said a date for a new shareholders meeting will be established
commenting on the paris agreement mulford said i think exchange rates ought to be stabilized so germanys and japans efforts can be carried out
a cut in the discount or lombard rates to bring them in line with the new structure of money market rates since last month would have little practical significance dealers said
the copper mine and smelter produced 72000 tons of copper anodes in 1986 and employs 680 people
the company said sales for the first nine weeks of the year were up six pct to 259 mln dlrs from 245 mln dlrs a year before with same store sales up two pct
the issue carries a call option from 1993 at 102 pct declining thereafter by 1 2 percentage point per year
more
oper shr 22 cts vs 22 cts oper net 2058000 vs 2129000 revs 445 mln vs 357 mln avg shrs 9589000 vs 9348000 year oper shr 94 cts vs 94 cts oper net 8889000 vs 8570000 revs 1550 mln vs 1234 mln avg shrs 9450000 vs 9174000 note net excludes discontinued operations gain 1637000 dlrs vs loss 720000 dlrs in quarter and gain 4679000 dlrs vs loss 720000 dlrs in year
the us jobless rate in february and january was 67 pct the lowest rate since march 1980
the company said it holds a net 6500 acres in the vicinity of the discovery and a seismic program is underway to evaluate further drilling opportunities
the talks were of a casual nature he said
this price difference makes american corn competitive albert melnikov commercial counselor for the soviet union told 
exchange rate bill clears us house panel
the full council is scheduled to meet around 1500 gmt to discuss the compromise and could agree on it then if all parties are satisfied they said
alc communications corp alcc 1986 loss
gencorp inc chairman william reynolds said the companys board and its financial and legal advisors will study the unsolicited tender offer from general partners right now our advice to all our shareholders is to wait until the board advises them of its position which will happen on or before march 31 reynolds said
in an interview with chairman g
anything that would serve to have a chilling effect on foreign investment is going to cost us jobs and economic growth farren said before a congressional coittee
the two companies proposed a five for one share split
btr nylex is a 595 pct owned listed subsidiary of britains btr plc btrxlon
it also said top managements incentive shares were to be accelerated and paid for at a cost of six mln dlrs although there are restrictions on the shares unless waived by the companys compensation committee
the countrys 1987 92 medium term development plan targets a 98 pct average annual growth in exports and a 107 pct growth in imports the ncso said
excessive rains in the piura pima cotton area may reduce yields by about 20 pct due to excessive growth too early in the crop cycle
1986 year net excludes 440000 dlr debt retirement gain and gain 128 mln dlrs from sale of hpsc inc hpsc stock
syngold exploration inc and corp falconbridge copper said they defined undiluted reserves of 911000 tons of ore with an average grade of 043 ounces of gold per ton in two separate deposits on the deka property located at noranda quebec
profits of service sector companies are likely to fall in the business year ending in march 1988 leading to a possible recession in the japanese economy he said
the philippines commission on good government ruled last may against a move of neptunia to acquire 33 mln san miguel shares controlled by the brewery firms former chairman eduardo cojuangco who is also chairman of united coconut
saudi arabia will succeed in pressuring other members of the organization of petroleum exporting countries to stay within their production quotas said morgan stanley group managing director john wellemeyer
while he did not meet with jorge cardenas head of the colombian coffee producers federation who was in europe cardenas left a positive letter rosenbaum said
the central bank purchased bank bills outright comprising four mln stg in band one at 10 7 8 pct and 33 mln stg in band two at 10 13 16 pct
said wall street eanrings estimates of 110 115 dlrs a share for fiscal 1987 are expected to cause even the aggressive side of this range to be 10 to 15 cts low lyons said the strong performance in the second half of this year will result from the fourth quarter introduction of 90 mg and 120 mg cardizem tablets
s and p noted that first amarillo has had three consecutive years of losses
fritz leutwiler chairman of bbc ag brown boveri und cie and a former swiss national bank president urged the national bank to declare its intent of achieving a rising rate for the mark against the swiss franc
smith international inc sii 4th qtr loss newport beach calif
we were forced to pay a temporary price in the form of slower earnings growth and a lower rating by the investment community
investor has technology development tdcx stake
in times of rising commodity prices monetary policy might be tightened and in times of falling commodity prices montary policy might be eased he says
finance minister cleopa msuya said regular petrol would go up 52 pct with similar increases in the cost of premium and kerosene
dealers differed as to whether the us central bank actually intervened to sell dollars above 187 marks or simply telephoned dealers to ask for quotes and enquire about trading conditions
robert durham said
neco npt postpones annual meeting
ltv corps ltv missiles and electronics group said it received a 283 mln dlr contract from the us air force for continued design and development of an anti satellite weapon system
the canal would probably make a five to six mln dlr loss in the current financial year but this could be carried over and met from next years revenues
coradian corp cdin 4th qtr net
its export capability will rise to 25 mln bpd when a new pipeline through turkey comes onstream in or around september
it has appeared to traders for some years that the ecs export policy is insufficiently responsive to changing patterns of demand it says
this is the minimum prevailing level in the ec and there is no reason why we should lag behind countries like italy which have a similar productive structure he said
later figures were not available
analysts said a similar hurdle could also hinder the possible sale of dome petroleums interest in dome mines
the garuda indonesia airways dc 9 crashed yesterday on a domestic flight while carrying 37 passengers and eight crew members an airline spokesman said
third qtr 1986 includes extraodinary tax gain of 270000 from early extinquishment of certain drafts payable
el paso electric said it reached a stipulated settlement on its new mexico rates with several parties including the state of the new mexico public service commission which provides for rate treatment of the utilitys investment in the palo verde nuclear generating station located near phoenix ariz
total fees of 1 7 8 pct comprise 1 1 4 pct for selling and 5 8 pct for management and underwriting combined
the dollar rose as high as 14750 yen
australian minister sees targeted oil tax strategy
net proceeds will be used primarily to retire outstanding bank debt chilis said
while you may be able to maintain your current market share in the us you clearly will not be able to look to the us to take major increases in your exports he added
three london markets which trade potato soymeal and meat futures said they will merge to form a new agricultural futures exchange
crosby owns 340783 of the 752297 class b shares
group raises computer memories cmin stake
algerian and spanish producers which together meet 40 pct of the western markets needs in quicksilver have agreed to apply a minimum selling price of 300 dlrs per unit the algerian news agency aps said
repayments in the december quarter accounted for 14 billion dlrs against 260 mln in the september quarter and 334 mln a year earlier
denman also took exception to us efforts to seek reciprocity in specific trade sectors
maxtor corp mxtro buys private firm
id be surprised if supply pushed us out of it the trading range lacey said
krupp has said previously that the work force cuts are necessary because of weaker conditions on the steel market
no dividend was recommended
manufacture of the 911 and 928 models rose six pct to 11122 from 10533 units but production of 924 and 944 models was cut by 12 pct to 14754 units from 16848 and would be cut further the report said
due to late plantings only about 20 pct of the corn crop crop has been harvested
burdensome supplies have pressed the market down from 130 dlr a pound in february when the organizations discussions aimed at re establishing export quotas broke down
profit from participations 11 mln vs 15 mln
but he added that the last central bank council meeting on april 2 had discussed the economic situation with a mood of subdued optimism particularly influenced by the news brought by several state central bank presidents
ladd furniture ladfo completes acquisition
moodys said the units hoover and rowenta have leading market positions
however warburg securities economist ian harwood said his firm was sharply revising its 1987 current account deficit forecast in the light of the latest data cutting one billion stg off the expected full year total to about 175 billion stg
it was not a decision making meeting lyng said
prudential insurance co of america said it will enter the real estate brokerage business in 1988 and plans to develop a national network of franchised brokerage offices
petitioners have to show their remittances relate to genuine commercial transactions
year ago data reflect a two for one common stock split
the senate republican leader said the 0 92 option posed two problems
however the officials travelling with japanese finance minister kiichi miyazawa and who asked not to be identified would not provide any details of how they wanted the accord which was signed by the six leading industrial democracies in february to be strengthened
over the weekend baker had criticised west german economic policies saying that rises in domestic interest rates here were not in the spirit of last februarys louvre pact to stabilise currencies
capital markets in the arab world are still in their infancy he said
we believe the action being proposed will begin to contribute to improved earnings in the fourth quarter of our fiscal 1987 and throughout fiscal 1988 the company which is one of the nations largest construction firms also said termination of its defined benefit retirement plan would produce a pre tax benefit of about 10 mln dlrs due to overfunding of the plan
banks built up minimum reserves today ahead of the expected outflow
bankers said the looming expiry of this commitment coupled with brazils freeze raised a spate of technical and legal questions that the banks want to discuss with gros
no figures were given for imports in the corresponding periods of 1986
as a result it said it has eliminated the scheduled may 1987 conversions of 1300000 dlrs of series a notes and 1400000 dlrs of series b notes
they said call money was still relatively high at 6 1 8 to 6 1 4 pct as a result of the tight set of bids accepted by the bank for the previous seven day facility
he expects re classification of as much as a third of the loans as non accruing and he sees partial write downs of some loans
a new date has not been set but it will likely be no sooner than next march powers said
formula shell has achieved strong sales in japan despite a higher price than regular octane gasoline which has prompted other oil firms to offer a rival product the sources said
they said they would mine 460000 tonnes of proven and probable mineable reserves of oxide ore grading 045 ounce gold ton at a yearly rate of 112000 tonnes for a mine life of 425 years
the foundation would also raise private funds and would donate 25 per cent of its money to combat aids in less developed countries
the base rate reductions came after the bank of england cut its dealing rates this morning in a signal to the money markets that it would not resist a half percentage point drop in bank base lending rates market sources said
west german finance minister gerhard stoltenberg called it a good meeting and in brief remarks exchanged with reporters other ministers seemed pleased with its outcome
property valuation reserve surplus 67 mln dlrs
the revolving evergreen facility will be completely underwritten and the borrower will be able to issue cash advances sterling bankers acceptances and sterling commercial paper through a tender panel
prices of wholesale finished energy goods in the us rose 40 pct in february after a 98 pct rise in january the labor department said
columbia first cffs takes over bank
as a result some banks fell back on the bundesbanks offer to mop up liquidity via the sale of three day treasury bills anticipating still lower rates before the month end
the imf since the emergence of the debt crisis in 1982 has pressed many countries to tighten their belts and cut back on social spending as conditions to granting assistance
one of several investor groups formerly associated with london investor christopher moran in his unsuccessful bid to take over zondervan corp last year said it cut its stake in the company to less than five pct
the company also said that upon completion of the exchange offer it may issue warrants to buy 100 mln shares of common stock to current shareholders and warrants for 75 mln shares to employees
the purchase was part of a strategic plan to diversify and eventually match earnings from non copper operations and copper operations
acting mayor roel den dunnen said that cooperation between private and public entities in the tokyo and rotterdam area and a fruitful exchange of information have a favourable influence on the flow of goods and services between the two countries
the par priced issue has an indicated coupon of between 5 1 2 and 5 3 4 pct
first control of credit in britain rested on interest rates alone due to the freedom of its financial markets
petricioli said mexico is in the final stages of discussions which will determine quantitative economic targets for 1987 which will allow it to continue to draw from the imf for the rest of 1987
even after this action over the last few weeks sterlings only just within striking distance of that range he said
they said the bank seemed more determined to support the dollar than it did this morning
condere formed to acquire the armstrong assets said it named dennis terwillger formerly vice president and controller of armstrongs tire division president
simon estimated that the company would earn seven cts a share in the first quarter compared to three cts in the same quarter a year ago and eight cts a share in the second quarter compared to five cts earned in 1986
treasury secretary james baker and federal reserve board chairman paul volcker have told house leaders they were optimistic their debt strategy would work but acknowledged the crisis could take a sharp turn for the worse congressional sources and us officials said
the european investment bank eib is raising 400 mln marks through a 10 year eurobond carrying a coupon of 6 1 8 pct and priced at 100 1 4 market sources said
shr 13 cts vs 14 cts net 1329000 vs 1054000 revs 207 mln vs 114 mln avg shrs 10100000 vs 7500000
japans unemployment rate seen rising to 35 pct
other months will remain unchanged at 70000 yen except new distant august which will be set at 70000 from march 2
the five institutes issued a joint spring report in which three kiel hamburg and essen forecast a two pct rise in gnp in 1987 while west berlin and munich predicted one pct
the company said a hearing on the adequacy of the associated disclosure plan is scheduled for april nine and completion of the plan is subject to approval by creditors equity security holders and the bankruptcy court
the test gave ratings expressed as a factor of 100 as follows winter wheat 96 last year 91 winter rye 97 98 winter barley 92 90 spring barley 94 98 oats 96 98 fodder and sugar beets 87 96 winter rapeseed 98 94 spring rapeseed 94 98 final harvest figures for 1986 were not yet available
lorimar said it had been reviewing possible conflicts of interest involving the departing executives with an unnamed outside service organization
the intrepid museum foundation reiterated that it is continuing negotiations with its official bondholders and creditors committees concerning the terms of a chapter 11 plan of reorganization
at that time merrill lynch told the company it would consider a 43 dlr a share tender offer in cash and securities if the borg warner board approved it said
the agency cited two recent tender offers in which waivers of a minimum share conditios were tried on the last day of each offer denying shareholders the chance to react to the new information
a steep drop in goods producing jobs detracted from us march non farm payroll employment and makes it unlikely that the federal reserve will tighten monetary policy to defend the dollar economists said
fiat unit issues 100 mln dlr bond and warrants
the toronto globe and mail quoting sources close to the negotiations today said dome broke off talks last night with transcanada pipelines ltd which last week announced a 43 billion canadian dlr offer for all of domes assets
there will be no change in the estimating program for california oranges
appleton said he bought the stock for 116554 dlrs for investment purposes
for the fourth quarter the company reported profits rose 10 pct to 117 mln dlrs or 178 dlrs per share compared with 1985 fourth quarter results of 106 mln or 164 dlrs per share
february orders for electric and electronic goods were 619 mln us dlrs up from 574 mln in january and 370 mln in february 1986
the paris declaration did not state the levels at which central banks of the major industrialised countries would intervene
each unit of beneficial interest in the trust will be allocated 0051675 shares of ual common stock
there is growing consensus that the dollar has bottomed out for the medium term added tom campbell of first national bank of chicago
although some 2500 tonnes of sugar have been offered to intervention in the netherlands dutch producers and traders said this sugar was actually belgian and was being offered by the belgian industry
dh holmes co ltd hlme 4th qtr net
a spokesman for c
shr loss one ct vs profit five cts net loss 34496 vs profit 207165 rev 102691 vs 297813 nine months shr profit one ct vs profit five cts net profit 69018 vs profit 230188 rev 641823 vs 666319 note the company was delisted from the nasdaq in november 1985
the china daily said all cotton growing areas in south china should be maintained and growing in the north should be concentrated in hebei shandong henan and xinjiang
in comments on its latest export sales report the department said iraq japan and the ussr were the largest buyers
aaron spelling productions inc sp 2nd qtr net
he added jacksons is arranging an offer by barwon to pay a total 38 billion pesos in cash for 38 mln san miguel shares
south african mutuals lee believes government spending will again exceed the budget target and increase to around 49 billion rand this year leaving a deficit of between 5 and 55 pct of gdp compared with a three pct limit suggested by the imf
qtly div 20 cts vs 20 cts prior pay may 20 record may four
sandra kaul a coffee analyst in new york with shearson lehman brothers said supplies currently are at their high point for the year because most producing nations have just completed their harvests
ctc dealer holdings ltd said it extended its previously announced offer for 49 pct of canadian tire corp ltd to midnight on march 26
but only 1699 mln ringgit in shares was taken up by shareholders mainly local indian and malay businessmen and the indian government
canada will offer a 12 billion dlr four part bond issue tomorrow which will be dated march 15 and delivered march 16 the finance department said
the islamic development bank idb approved a total of 123 mln dlrs of project loans and technical assistace to member countries a bank statement said
however ecuador might build an emergency 25 km pipeline costing 15 to 20 mln dlrs to hook up with a colombian pipeline the first official said
the export sales will be subsidized with commodities from the inventory of the commodity credit corporation ccc the department said
he said the outlook for the medium duty truck market continues to point to little or no change
glickman told the measure would allow 1987 winter wheat producers and 1988 feedgrains producers the possibility of receiving no less than 92 pct of their income support payments regardless of how much acreage they planted
bank of japan to sell 800 billion yen in bills
tensions in the gulf however usually had a relatively short term impact on prices he added
assuming oil prices hold above 15 dlrs a barrel national average gas prices delivered to the utilities at a projected 210 to 225 dlrs per mln btu would be very competitive michael german vice president of economic analysis at american gas association said
industry analysts said the increase did not exceed norways voluntary move to curb by 75 pct planned growth in its oil output a move designed to back opec led efforts to stabilise oil prices by limiting supplies to world crude markets
istats industrial production index base 1980 not seasonally adjusted registered 933 compared with 966 in january 1986
tie communications inc tie holds 65 pct interest
what we are suggesting is reasonable it should be better understood not just outside the community but at home he said
for investment purposes the group said
china industrial output rises in first quarter
the sale sharply undercut the us offer of 112 dlrs per tonne fob for 33000 tonnes of wheat it said in its latest report on export markets for us grains
feds johnson says dollar stabilized after fed took appropriate action
last years results include a 69 cent charge for the buyback of debt
sanwa bank acquires small stake in portuguese bank
some 44 banks have failed so far this year twice as many as failed by this time a year ago but seidman said he doubted the pace would continue
if that article were invoked gatt would set up a panel to consider the legality of the us action
the only buyers are bean exporters or local processors covering previously contracted commitments they added
martin processing said it accepts 20 dlrs share bid from courtaulds plc
shr profit two cts vs profit two cts net profit 216000 vs profit 265000 revs 1661000 vs 1376000 12 mths shr profit four cts vs loss two cts net profit 528000 vs loss 290000 revs 5881000 vs 5541000 note full name of company is pension insurance group of america inc
cambio la guiara operated in part on the parallel market in which traders buy and sell dollars among themselves
the maize import target for calendar 1987 is set at well over 34 mln tonnes compared with an actual 307 mln in 1985 he added
laser photonics inc lazro closes sale
nippon signal swiss franc notes set at 1 1 4 pct
hughes supply inc hug sets quarterly
burlington lawyers said edelman and dominion held discussions with painewebber and ammeen about acting as financial advisers to samjens
viacom via sets record date for merger vote
with the best of intentions africa cannot attain a three to four pct gdp growth rate if the current high level of debt persists mamman said
nova subsidiary raises us polyethylene prices
hallamore san bars director of corporate development 1312500 dlrs and 1087500 dlrs respectviely under agreements entered into in october 1983
the monetary situation is clearly very bad but as long as sterling is firm the authorities are unlikely to put rates up said kevin boakes chief uk economist at greenwell montagu gilt edged
they said they expect thai banks to opt for a cut to spur domestic loan demand to help reduce persistent high liquidity on the money market
i hope the debate is still open if not there will be a formidable hole in the budget he said
audio video affiliates ava 4th qtr jan 31 net
american barrick abx sells coal assets
the only thing that will stop the dollar falling is a substantial increase in the discount rate and a corresponding cut abroad at least by japan said lanstons jones
the lme also has a much more viable liquidity base for a new contract compared to the comex market in new york where high grade aluminium futures are not particularly active they said
financial security savings and loan association said it has agreed to sell its sunrise fla branch to fortune financial group inc forf of clearwater fla for a substantial profit subject to regulatory approval
usx x unit hikes crude oil posted prices
he said news of strong growth in exports of non oil goods confirmed recent bullish surveys among members of the confederation of british industry
asked if opec would increase production if prices went above 18 dlrs a barrel he said this would be decided at the next opec meeting in june
the broken hill pty co ltd brkns said it expects a strong full year result helped by sigificant investment allowance credits in the fourth quarter but net will fall short of the record 9882 mln dlrs earned in 1985 86 ended may 31
however jucker said the company improved liquidity through a recovery in cash flow and conversion of 300 mln swiss francs of credit into a subordinated loan
the sources noted the operators could withdraw their offers in the five week period between the acceptance of the sugar and payment for it
the cbis monthly trends survey for march shows that 43 pct of the 1685 polled uk firms expect to raise output in the next four months
the central bank said it issued 496 billion dlrs worth of certificates of deposit cds today after issuing 403 billion of similar cds yesterday bringing the total value of cd issues in 1987 to 13946 billion
we have the impression it may be difficult to get even two per cent growth this year the big question is whether the governments policy of wage moderation will be maintained he added
the suit filed by polaroid in april 1976 charges that kodak infringed upon polaroids instant camera patent
an export enhancement offer is not consummated overnight said one former usda official who noted that the administration took three months to decide in favor of selling china wheat under the subsidy program
argentina has said the barriers and subsidies cut unfairly into the countrys traditional markets for its grain exports
period ends february 28 shr 89 cts vs 87 cts net 1195 mln vs 1146 mln revs 8723 mln vs 9174 mln year shr 287 dlrs vs 332 dlrs net 3834 mln vs 4136 mln revs 445 billion vs 445 billion note full name public service enterprise group inc
boliden said the companys liquid assets were 136 billion crowns at year end which together with an investment portfolio of 160 billion made it one of the most liquid swedish companies
but he added the possibility remained the deal would fall through
soybean acreage amounted to less than two mln acres of the non program crop acreage enrolled a usda analyst said
fed offers to buy one billion dlrs of bills for customer after note auction
the acquisition is subject to approval of the federal reserve board
japan now produces only 30 pct of its annual grain needs down from 61 pct some 20 years ago official figures show
the ministry of mines has announced the discovery of a major gold field in grand bois in haitis mineral rich north
unicorp american corp uac 4th qtr net
asked about press reports that ferruzzi might follow up the european sugar flotation with the sale of 49 pct of the cpc business gardini said we do not exclude having minority partners in the cpc business he declined to elaborate
a ciba geigy spokesman declined to say how much the venture would cost
the newly acquired company will operate as part of standexs perkins division the company said
samuels cited the animal hormones complaint the ec oilseeds regime and an ec regulation concerning meat imports to third countries as three crucial barriers to trade which the us wants to see resolved under the auspices of gatt
it said it believed bulolo was not fully exploited in the past noting the literature refers to heavy gold losses in tailings during dredging from 1931 to 1967 which produced a total of 21 mln ounces
that adjustment should be large enough in a context of a growing world economy and fiscal restraint in the united states to support the widespread expectations of a narrowing in the real trade deficit in the period ahead he said
net in nine mths 1986 includes income from discontinuing operations of 101 mln or nine cts per shr and income of 39 mln dlrs or four cts per shr in qtr 1986
waste management inc said it sent a letter to the chemlawn corp board saying it is prepared to increase its bid for chemlawn to 33 dlrs a share from 27 dlrs if chemlawn promptly negotiates and executes a simple two step merger agreement containing only essential covenants and conditions
federal reserve board vice chairman manuel johnson cautioned against seeking quick fix solutions to persistent us trade and federal budget deficits
fees for the issue comprise 1 1 4 pct selling concession and 5 8 pct for management and underwriting combined
but bankers who attended the meeting with gros said it was inconclusive
bradford sees armco earning 50 to 75 cts a share in 1987 before special gains from recouped investment tax credits against losses last year
it said pretax profit should rise to 230 mln stg in the year to april 2 1987 from 196 mln previously and reach 275 mln in 1987 88
the department said it is possible that producers could be encouraged to delivery higher quality grain to ccc by adjusting the premiums and discounts
however bankers said it is encouraging sama has not blocked a black list of borrowers banks have drawn up and circulated for over a year
exxon xon cuts heating oil price traders said
however much of that export demand seems to have been met with most foreign meal users now waiting for the expected surge in shipments of new crop south american soymeal over the next few months
if its not all cleaned up by then i dont know what will happen
seixas who met again this morning with senior citibank executive william rhodes and representatives from committee vice chairmen morgan guaranty trust co and lloyds bank plc told the banks that the government was preparing a telex to explain and clarify the freeze on short term credits
national pork board allocates 24 mln dlrs
lyphomed inc lmed offering of 70 mln dlrs of convertible subordinated debentures due march 15 2012 through alex
eurofer says it has identified scope for the closure of plants which have an annual capacity of 1526 mln tonnes provided the companies concerned can be fully repaid by the ec or national governments for redundancy and other social costs
carteret savings bank said it has completed the previously announced sale of six virginia branches to charter federal savings and loan association chfd carteret said it has opened a retail banking office in vienna va as the next step in its move to build a strong presence in the washington dc baltimore md area
reduced were the companys 10 3 4 pct senior subordinated debentures of 1998 to caa from b 3
also the higher live cattle prices have been encouraging early movement of cattle from wheat pasture onto feedlots ginn said
us energy futures called unchanged to lower
international thomson to report in us funds
iraq blames iran for the outbreak of hostilities which have entailed world war i style infantry attacks resulting in horrific casualties
outokumpu to close nickel refinery during summer
combustion engineering inc said it has completed the previously announced acquisition of accuray corp in a merger trasaction that closed friday at 45 dlrs per share
31 against 1258 mln dlrs or 343 dlrs a share a year ago
renison goldfields extends lyell copper mine life
convertible currencies totalled 18277 billion lire in may down from 20028 billion in april while european currency unit holdings were 10610 billion against 10528 billion
sterling in any shape or form is flavor of the month and were set to see many more eurosterling deals one dealer said
1
the acquisition of fairchild is not essential to fujitsus north american operations but it would have been a great boost james capel and co analyst tom murtha said
health experts urge eradication of rinderpest
total supply includes imports but not broken kernels
although a handful of frn market makers were expected to remain on the sidelines for the time being dealers noted a tangible return of retail interest from the far east lured back by extremely attractive yields and bargain prices
seipp said extraordinary earnings included a high two figure million in profit from the sale of the banks aeg ag aeggf shares to daimler benz ag daigf during the latters majority stake purchase booked last year
exxon said that morgan guaranty trust co the fiscal and paying agent for the issue euro clear and cedel the two major european securities clearing systems and police in london and brussels are investigating the case
of the 1500 billion lire of 12 month paper offered operators requested and were assigned 911975 billion lire at a net annualized compound rate of 902 pct
auditors give first city fbt qualified opinion
the commitments made at these meetings need to be translated into action reagan said in a pre summit speech celebrating the 40th anniversary of the marshall plan
the worst may be just about over for japans battered economy but economists said they do not expect a vigorous recovery anytime soon
offshore data services said a total of 419 rigs were in use worldwide and 307 were idled last week
volcker said the challenge was greatest in the education of low income minority groups such as blacks and hispanics
domestic group turnover in the 1986 fourth quarter alone was 11 billion marks it said without giving comparison figures
the government has forecast growth rate of three to four pct for 1987
italys agip petroli buys stake in us company
florida oranges excluding temples 122900000 boxes vs 124000000 last month and 119000000 boxes in 1985 86
poland says us sanctions have cost its economy 15 billion dlrs and has made clear it wants washington to take a lead in repairing the damage after lifting remaining restrictions two weeks ago
in a filing with the securities and exchange commission the partnership flf associates said it sold 10000 shares of serier e convertible preferred stock on march 26 for 34125 dlrs each and 5000 shares of preferred stock on march 27 at 3525 dlrs each
american management systems amsyo 1st qtr net
the firm said its financial position enables it to achieve its goals and it has confidence for 1987
they ferris and trump talked last week
although the saudi arabian monetary agency sama has been tightening supervision there is still no standardised rule for declaring loans as non performing
the 1985 operating results include a host of unusual writeoffs and depreciation charges totaling 134 mln dlrs in the quarter and 906 mln dlrs in the year
bank of japan intervenes in tokyo after opening
the exchange rate has been fixed at 124 australian dlrs to the mark
the key us 7 1 2 pct treasury bond due 2016 fell to a low of 9608 12 in early tokyo trade against the 9805 06 new york finish then recovered to 9620 22
hackl said that in january and february this year the banks credit business had not livened up
oper also excludes tax credits of 158 mln vs 5954000 for qtr and 178 mln vs 116 mln for nine mths
the new facility will lower labor and mill costs and enhance product quality and range slater said
we are determined not to go the way of latin american debtor nations which have suspended interest payments of their debts the spokesman said
it said closing is expected by early fall subject to regulatory approvals
inflation as measured by the gnp implicit price deflator will rise to around 33 pct this year from 27 pct in 1986
rothmans international plc rotl aims to set up a joint venture with jinan cigarette factory in shandong china to produce high quality cigarettes some for export chinese newspapers said
the close relationship between exchange rates and trade flows makes it difficult to see which is driving which but undoubtedly the trade equation between the big three is changing
it said it expects sales and profits for fiscal 1987 however to exceed those of 1986
shr profit 26 cts vs loss nine cts net profit 103 mln vs loss 10 mln revs 2082 mln vs 1233 mln year shr profit 38 cts vs profit nine cts net profit 130 mln vs profit 28 mln revs 6355 mln vs 4293 mln note 1986 full year results include extraordinary loss of one mln dlrs or three cts per share
it noted the sale to newly formed bearing acquisition was announced may 18
nederlandsche middenstandsbank nv said it planned a 50 mln australian dollar 145 pct three year bullet eurobond issue at 1015 pct
it described the purchaser as a subsidiary of a company in the communications field which is one of the 100 largest us corporations
usda accepts offers for 550000 tonnes of bonus wheat for china
us exporters report 900000 tonnes corn sold to the ussr for 1986 87
texas international tei retires some notes
japan january industrial production revised up
leigh pemberton said that the effectiveness of this cooperation is actually larger than many of us had thought in the pre plaza days before september 1985
emery air eaf to bid for purolator pcc 
the conditions that were eliminated are cyacqs request for non public information about cyclops that was previously provided to dixons group plc and cyacqs being satisified that the information provides an adequate basis for cyclops published financial projections
boeing ba merger waiting period expires
acceptance of exchange offer by 90 pct of the debenture holders will enable consul to decrease its outstanding indebtedness and report profitably beginning in the first quarter of 1988 lamp told analysts
national semiconductor corp nsm fourth quarter
net long term capital outflows rose sharply to 705 billion francs last year from 88 billion in 1985 largely due to a major program of foreign debt repayment the ministry said
suburban said it has received shareholder tenders for 100 pct of valley nationals stock
both properties located in southern utah consist of approximately 1430 acres of unpatented mining claims and one state lease it said
it also said it may sell certain assets to repay the bank borrowings and is holding talks with interested parties
istat said its consumer price index for the families of workers and employees base year 1985 equals 100 registered 1095 in march 1987 compared with 1091 in february this year and 1051 in march 1986
they added that if member countries were unable to fulfil their quotas their extra tonnage would be reallocated to other members at the atpcs discretion
the officials confirmed a new york times report that kuwait wants to transfer some of its oil tankers to us or soviet registration in hopes iran would be reluctant to launch new silkworm missiles at superpower flags
dividend pay april 30 record april 16
baker denies change in us policy on dollar
between 1984 and 1986 reorganizations added almost 9000 new persons to us agriculture department payment rolls crowley told the house agriculture subcommittee on wheat soybeans and feedgrains
it said the loan consists of a credit line to ljubljanska banka ljubljana lbl to finance a project expected to improve industrial competitiveness and reduce energy imports easing the countrys current balance of payments difficulties
in unadjusted terms unemployment fell by around 30000 last month to 270 mln
garment orders were 324 mln dlrs against 383 mln and 283 mln while footwear orders were 297 mln compared with 333 mln and 200 mln
daiwa the us unit of daiwa securities co ltd of japan has become the first foreign bookrunner in the us corporate debt market this year
princeville pvdc gets letter of credit
nov 30 end shr four cts vs 11 cts net 62986 vs 174158 sales 720906 vs 907542 year shr 18 cts vs six cts net 277852 vs 94263 sales 2247374 vs 2030390
yield at issue is 1389 pct
a group led by new york investors david bellet and chester siuda said it lowered its stake in dba systems inc to 100000 shares or 37 pct of the total outstanding from 170000 shares or 63 pct
rohr rhr sells debentures at 9 1 4 pct
the private research body also said in a statement that 437 of the 1084 firms listed on the first section of the tokyo stock exchange foresee an 116 pct fall in sales in the year against an 114 pct fall estimated last november
some us officials feel funaros consolidation of power over the brazilian economy with the ouster of planning minister joao sayad is further reason to worry
he said he was unable to see what the us had achieved as arab states such as kuwait and saudi arabia whose interests the us is supposedly defending will feel less secure as a result of the us attack and fear some sort of iranian retaliation
puerto rican cement co prn sets payout
i dont think we can talk of write offs even the poorest countries have not asked for that he said
qtly div 20 cts vs 20 cts prior pay may 11 record april three
cocoa buffer differentials detailed
lisbons civil court decided in a preliminary ruling earlier this month that epac should not be allowed to take part as it had done in the past in tenders for the liberalised share of annual grain imports
icahn i think had wanted to sell his airline and there were no takers
shr 32 cts vs 18 cts net 1200466 vs 545670 revs 82 mln vs 64 mln year shr 152 dlrs vs 27 cts net 4972683 vs 1046460 revs 333 mln vs 23 mln
perus exports fell to 251 billion dlrs last year from 298 billion in 1985
that selling largely came to an end this morning after about one hour of trading here the senior official said
taiwan said it would soon relax import controls on some 400 foreign items including stationery and books in a further effort to allow trading partners especially the us greater access to its markets
investors may pay for b participation certificates by redeeming the bond issued today
bank of japan sources told in tokyo earlier this week that they believed the limits of currency market intervention are perhaps being reached and that other methods for bolstering the dollar such as invoking currency swap agreements with other central banks are being considered
group sells stake in comdata network cdn 
safeway put its stake up for tender just in time to take advantage of changes in us tax laws effective from the end of december informed sources said
colombia jan exports up but coffee values fall
mcleans mii us lines sets sale of assets
with a record trade deficit of 169 billion dlrs last year and a farm economy in the doldrums congress is pressing to hold back us funds for the world bank and other development banks if the money is used to subsidize production or to produce goods already in oversupply around the world
i dont think they ever will he pointed out that banks would swap their third world loans for capital in the megabank and might then be reluctant to provide new money to debtors through the new institution
chinas 1987 cotton output must rise above the 1986 level of 354 mln tonnes or supply will fall short of increasing demand the china daily said
this scenario put japans gnp growth at 35 pct a year
they had also forecast todays total authorised sugar tonnage export awards to be between 60000 and 80000 tonnes versus 103000 last week when the restitution was 43699 ecus
the companys position is we would like to see the merger be completed which is in the best interests of our shareholders and their shareholders mattson said
ganapin said three billion dlrs would be needed in the next two years alone to save five mln hectares of critically denuded land in the philippines
ec grants 5000 tonnes soft wheat export licences at 13475 ecu rebate brussels trade
macyro said the two companies operate in the construction material electiricty plumbing hardware and locksmithing sectors and had sales of 235 mln dlrs last year
the intensive technology concept for grain production has put a new floor under ussr grain production the us agriculture departments officer in moscow said in a field report
toshiba information systems uk ltd a toshiba subsidiary said yesterday it planned to enter the uk market under the toshiba own brand name and had applied for government approval to do so
a minimum of 65 pct of the revolving credit will be immediately available with a facility fee of six basis points
payment is due april 30
the sources said shares in the porfolio could be traded or redeemed by the idb adding that this was a major step in establishing an islamic financial market
frischs restaurants inc frs sets quarterly
merrill lynch pierce fenner and smith is a subsidiary of merrill lynch and co inc mer according to the court documents sofer is a principal in both plenmeer and meda establishment and vaskevitch has an interest in plenmeer
coffee earnings were down to 110 mln dlrs against 295 mln in february 1986 because of lower prices he added
transamericans suit alleges that coastla attempted to unlawfully gain control of transamericans texas natural gas reserves and pipeline system
oesterreichische laenderbank ag olbvvi expects to maintain its dividend and to record a moderate rise in profits this year after the 1815 mln schilling net profit made in 1986 general director gerhard wagner said
for export it rose eight to 108 per tonne from bahia blanca increased 050 to 104 at necochea and was unchanged at rosario at 10830
another 60 mln ecus could be added if ec ministers switch unused project credits to other programs the commission said
borden also said the divestment of three operations with about 50 mln dlrs a year in sales is expected to produce nearly 45 mln dlrs in cash for use toward the purchase of new businesses
im concerned about the feds overreaction
they said the presidents economic policy council looked at japans adherence to the 1986 us japanese semiconductor pact yesterday and that an announcement may be made shortly
last week the central bank said that from today it would reduce its purchase of forward us dollars from banks to 40 pct from 90 pct of the value of the contract
radical concessions such as debt writedowns and schemes to tie payments to real income must all be considered the sela document stresses
they said owning oil reserves in a politically stable united states is good insurance against future shortages
todays announcement came before a departure later today of a 15 member taiwan delegation for washington for a series of trade talks with us officials
there is still a very large gap between the employers and the fnv and i cant say that we expect to reach any agreement
the lower and upper indicative prices floor and ceiling prices will remain fixed at 150 and 270 cents unless the council decides to revise them at reviews held every 30 months
the agency said it uses the d grade for securities issued by companies in chapter 11 reorganization
qtly div 70 cts vs 70 cts prior pay june eight record may eight
a 12 year tranche caries seven pct interest with an issue price of 10075 while an eight year part issued at 1005 carries a 675 pct
i think that bps bid is a very strong affirmation and clear signal that they have confidence in the us and they think the barrel of oil in the ground is going to go higher said sanford margoshes of shearson lehman brothers inc
siew said the talks starting on april 14 would cover us calls for taiwan to open its market to american products purchases of major us machinery and power plant equipment import tariff cuts and protection of intellectual property
it said 200 mln dlrs of the equity would be in the form of special preferred stock
panic said today he would not discuss the drug with regard to aids until the food and drug administration completes its review of data submitted by the company
it now appears likely that the companys throttle body business with general motors corp gm will peak in the first six months of 1987 continue at reduced levels to july 1988 and suffer an interruption for the period from july 1988 to july 1989 walbro added
dealers said if steps are not taken to stimulate the japanese economy protectionist sentiment in the us congress would grow and put more downward pressure on the dollar
it will be submitted again for approval by developing nations belonging to the so called group of 77 scheduled to meet next month in havana cuba
the commodity credit corporation ccc has authorized 20 mln dlrs in credit guarantees to cover sales of seeds for planting to algeria the us agriculture department said
arbed sees need to maintain pressure on costs
officials said darman felt the passage of tax reform late last year marked an appropriate moment to bow out
us bill auction rates average 563 559 pct
bangemann calls for currency calm
conoco was the last company to raise prices following a series of increases initiated last week by sun co sun which reversed the posted price cuts made at the end of february
the company which consolidated the swedish wholesale and investment conglomerate ahlsell ab this year said the result included restructuring costs and write offs of 802 mln crowns
louisiana pacific corp said it plans to sell its sawmill in lakeview oregon and 18000 acres of timberland to ostrander construction co
more than 170 ships in brazil and about nine more in foreign ports have been halted by the strike which began on february 27
their ideas are due to be unveiled when finance ministers hold an informal meeting in belgium early next month
echlin could receive a one time payment at its option in cash or stock ranging from up to one dlrs a share in 1989 to four dlrs a share in 1992 to 1994 to the extent the market price of champion shares is less than nine dlrs a share at those times
rifai dismissed the view of some bankers and economists here that the dinar which is pegged to a basket of currencies is overvalued
the figure surpassed pdvsas stated goal of 1410 mln bpd and the 1985 export volume of 1371 mln bpd
foreign traders will be able to hedge trades against nymex prices before the exchange opens and negotiate prices at a differential to nymex prices mckiernan explained
bp earlier today said its us unit planned to tender at 70 dlrs per share for the 45 pct of standard it does not already own
echlin ech expects continued profit growth
hallmark stores sells secured bonds
earlier this week transco energy co t rejected the ferc guidelines saying it would not offer open access until the regulatory body offers a solution to the exposure it faces for gas it has bought but could not sell
they said growers now forecast soybean production this season at between 75 and 78 mln tonnes down from last weeks estimate of 77 to eight mln tonnes and the 80 to 84 mln tonnes forecast in mid february
a company spokeswoman said the four dlr per share gain will be included in second quarter net which compares with 31 cts per share last year including the spirits and wine business they netted over 700 mln dlrs for spirits and wine
a key house panel voted to greatly ease government controls on exports as several house committees moved rapidly toward approval of major changes in trade laws they hope will help solve us trade woes
leahys proposal would also allow a larger 1988 wheat set aside if projected stocks surpassed 19 billion bushels
brazil cotton crop lower usda report
northern star holdings ltd said britains associated newspapers holdings plc will hold 999 pct of its enlarged issued capital after applying to acquire 159 mln shares in its recently announced placement
moodys said it would assess future prospects for the company as well as for the whole catalogue showroom industry
last time there was a lot of false information submitted to customs which resulted in a lot of indictments and fines a us customs spokesman said
earlier markets were bracing for a one point cut in rates after yesterdays budget set a sharp three billion stg reduction in 1987 government borrowing targets to four billion stg
the market wants to take the dollar lower uncertainty over central bank action and nervousness over a g 5 meeting next week in advance of a meeting of the international monetary fund could make for choppy price activity the remainder of the week mills said
a ceiling for foreign exchange availability will be set by a council with members from the central bank the economy ministry and the planning and foreign trade institutes
since yield premiums of corporate over treasury bonds are now the lowest in years many investors believe corporates are overvalued versus treasury and agency issues
many banks said that they had for some time been providing more than the legal minimum of information
inflation is expected to be 40 pct at the end of 1987 he said adding it may exceed 45 pct by the summer before falling back to 40 pct by the end of the year
there were five grain ships loading and three ships were waiting to load at portland according to the portland merchants exchange
the exporters said the key factor in the eventual opening of may and june export registrations will be the amount at which the contribution quota is set
in 1986 about 183 billion dlrs of new eurobonds were offered according to figures compiled by euromoney magazine
shr 22 cts vs 17 cts net 1232000 vs 834000 sales 241 mln vs 209 mln avg shrs 5609000 vs five mln year shr 97 cts vs 69 cts net 4985000 vs 3426000 sales 924 mln vs 779 mln avg shrs 5153000 vs five mln
proceeds will be used for general corporate purposes
indonesia with 168 mln people is the worlds largest moslem country
the bank of england said it had provided the money market with around 40 mln stg late assistance
pete stark a california democrat and senior house ways and means committee member said herringtons plan for a 275 pct depletion allowance which in effect is a special 275 pct tax deduction would cost seven billion dlrs a year
rowland
it said iranian charge daffaires mohammad baqeri was summoned by the ministry yesterday to confer with foreign undersecretary suleiman majed al shaheen
precision target marketing ptmio 4th qtr net
gould did not disclose terms of the deal
earlier kay had repeated agriculture secretary richard lyngs statement last week that the door is not yet closed on an eep to the soviet union
she spends less than 650 dlrs a day on food despite eating out once a day
moodys investors service inc said it is reviewing the b 2 debt ratings of resorts international inc and of resorts international financing inc for possible downgrade
brazil announced on february 20 that it was suspending interest repayments on about 68 billion dlrs of private sector debt owed to commercial banks
decision industries corp said it expects to report an operating loss of 19 24 cts a share for the first quarter ending march 31 mainly due to lower profit margins and higher sales and marketing costs
police said the owners of the firm mario muggia and his brother luigi muggia have left venezuela
but it was unclear how such cooperation was being arranged and how frequent consultations between central banks were
chock full onuts corp 2nd qtr jan 31 loss new york march 12 oper shr loss 38 cts vs profit 24 cts oper net loss 2243000 vs profit 1192000 revs 436 mln vs 410 mln six mths oper shr loss 35 cts vs profit 28 cts oper net loss 2090000 vs profit 1399000 revs 843 mln vs 729 mln note year ago oper excludes loss from discontinued operations of 1028000 dlrs for qtr and 1076000 dlrs for six mths
it said the 34 mln meston shares not tendered in the offer were held by about 550 stockholders including quebecs la societe de developpement de la baie james with 13 mln shares
however there was demand for industrial casting due to increased hydro electric power generation the company said
time said after the redemption date interest on the notes will cease to accrue and any coupons attached to the notes maturing subsequent to the redemption date will be void
as the work of retrieving bodies from the half submerged hulk continued maritime safety experts in london said doubts had already been expressed about the design of so called roro ferries such as the herald of free enterprise
vieux called on the ec commission to help by awarding a larger volume of export certificates and said if no outlets are opened for french barley a large amount could be put into intervention
the hughes board objected to a us department of justice requirement that baker sell off several specialised subsidiaries in businesses related to oil drilling
the brunswick mine produced 413800 tonnes of zinc and 206000 tonnes of lead last year at a recovery rate of 705 pct zinc and 556 pct lead
texaco said its natural gas reserves totaled 816 trillion cubic feet at year end down from 887 trillion cubic feet at the end of 1985
yesterday shearson said it was elevating its chief operating officer jeffery lane to the added position of president which had been vacant
the brand will constitute good delivery from april 1 the lme said
they would give no details noting that the white house had not commented on the decision
poehl is in a dilemma
the move will will enable it to boost service in the pacific by 15 pct in 1987 american president said
the joint committee of taiwans maize importers awarded contracts to five us companies for seven shipments totalling 340000 tonnes of maize for delivery between september 1 and december 20 a committee official said
the issue can be redeemed early on april 10 1991 1992 or 1993 with 45 days notice
automation and incentives tied to profit sharing have been used with success he said
cxr telcom corp cxrl 3rd qtr march 31 net
economists similarly shrugged off slightly higher than expected adjusted bank borrowings from the feds discount window which averaged 310 mln dlrs a day in the latest week compared with many economists forecasts of about 200 mln
they will be a flexible supplement to negotiated deposits and will give companies and institutional investors better chances to organise liquidity the statement said
saudi arabian oil minister hisham nazer said opecs december agreement to stabilise oil prices at 18 dlrs a barrel was being implemented satisfactorily and there was no immediate need to change it
administrative executive robin taylor told the domestic news agency ziana that zimbabwe earned the equivalent of 33 mln us dlrs from coffee exports last year
uk money market given 689 mln stg early help
ec sugar tender hard to predict london trade
a 1 plus commercial paper was affirmed
the leaders of two of japans top business groups said in separate statements the group of seven g 7 accord reached in washington yesterday is of deep concern to japan because it shows the major industrial nations regard the yens current level as appropriate
dealers said that the rule would enable investors and secondary market makers to better evaluate the appropriate market price for their securities
soviet data show the machine building industry which makes machine tools instruments and other engineering goods increased output by 33 pct in the first nine months of this year against the same period of 1986
turkey lifts survey ship escort as tension abates
but as economic conditions had changed he said consumers had been led to make proposals for improving its functioning
there are now 1425 mln dlrs of these notes outstanding compared to an original issue of 25 mln dlrs sold in september 1985 first federal said
wtd industries wtdi sawmill offer rejected
i think that if they were to do that theyd create the same conditions that we did in 29 they choked off the money supply and what happened we went into a major recession
we consider nickel prices as bad at the moment although they have been rising slightly since january refinery sales manager pekka purra said
it said both metals are for delivery in the week of may 11 to olin corp east alton ill
the paper also said the minimum for opening a fixed deposit account had been cut to 50 yuan equivalent from 150 yuan
three months edged up to around 6 9 16 5 16 pct from 6 7 16 1 4 pct while six months was quoted a touch firmer by some banks at seven 6 3 4 pct
state owned cie generale delectricite s electrical contracting unit cgee alsthom has taken a 34 stake in the us computer firm esca corp cgee alsthom chairman philippe boisseau told a press conference
morrison inc morr acquires custom management
citic in may agreed to invest about 80 mln dlrs in portland
council of europe issues luxembourg franc bond
fears of a rise in the discount rate were fanned by the central banks apparent decision last week to countenance higher rates on commercial bills dealers said
conservative opposition leader constantine mitsotakis said he had urged papandreou to accept an offer from nato general secretary lord carrington to help resolve the row
the venture expects to spend 65 mln dlr this year 105 mln dlrs next year and 125 mln dlrs in 1989 to build transmission lines from northern quebec into new england the utility said
alpine group inc agi 3rd qtr jan 31 net
akzo unit concludes licence agreement with basf
the company said the increased dividend will be paid on may 13 to shareholders of record april 16
revlon today rose 3 8 to 19 1 4 in active trading
oper shr loss one ct vs loss 265 dlrs oper net loss 100000 vs loss 327 mln revs 1423 mln vs 1688 mln 12 mths oper shr profit 57 cts vs loss 276 dlrs oper net profit 7072000 vs loss 342 mln revs 5440 mln vs 5722 mln note 1986 oper net excludes tax credits of 2149000 dlrs for qtr and 2200000 dlrs for 12 mths
mr
feasibility studies are still being done on the carbozulia project with a definitive accord slated for august he added
it said the proposal also called for conversion of outstanding novamin warrants into breakwater common shares on the same basis provided the exercise price was paid by the warrant holders
norsk data lowers 1987 pre tax profit forecast by 100 mln crowns
nichols said he did not know the identity of the other bidders or the terms of other offers
tp lilaratne head of the governments rubber controller department which monitors the industry told replanting and base budding would have to be undertaken before late may when the monsoon rains begin
that requirement excludes claims against independent petrochemical
prior year net both periods includes pretax asset writedowns of 1146 mln dlrs and additions to reserves of 600 mln dlrs
it had asked state governments to build more warehouses to avoid damage to grains
new foreign shipbuilding orders received by japanese yards in may fell to five vessels totalling 188900 gross tons gt from eight ships of 314000 gt in april against four ships of 104500 gt a year earlier the japan ship exporters association said
we appreciate his management but certainly some practices have to be corrected
last night the company urged shareholders to reject the tender
the missouri based energy service company union electric co is seeking a 150 mln dlr four year euro term loan facility swiss bank corporation international ltd said as arranger
the employers have written to the union asking it to reconsider its position and a meeting of union members has been called for tomorrow
bil opposes the rainbow merger and analysts say bil needs a 25 pct stake in progressive to prevent it occurring
dealers noted that market confidence had already been at a low ebb with much of the recent impressive rise whittled away last week as investors reacted nervously to opinion polls showing unexpectedly strong gains for the centrist liberal social democratic alliance
within this sector the output of both basic products and of food tobacco and alcohol fell 1 1 2 pct
japan cutting china corn commitments usda
ministers also decided to continue talks with japan
freedom savings frdm may seek sale or merger
new applications for unemployment insurance benefits fell to a seasonally adjusted 340000 in the week ended march 7 from 373000 in the prior week the labor department said
memory protection devices inc said it completed its acquisition of the assets and liabilities of bogen a division of lear siegler for 9200000 dlrs in cash
coastal spokesman jim bailey confirmed the company which is an unsecured creditor of transamerican would present its own reorganisation plan to the bankruptcy court
in early 1986 gencorp and rko agreed to sell wor tv in secaucus nj to mca inc mca for 387 mln dlrs
the cost of living in west germany was provisionally unchanged in march compared with february but fell 02 pct against march 1986 the federal statistics office said
home federal said notice of the meeting and related proxy materials which has been filed previously with the securities and exchange commission and the federal home loan bank board were mailed on june 26 to holders of record on june 15
rada electronic industries radif nine mths net
the company said backlog stood at 7520 billion dlrs down from 7912 billion dlrs a year earlier
shr 105 dlrs vs 74 cts net 5244000 vs 3684000 nine mths shr 293 dlrs vs 214 dlrs net 146 mln vs 106 mln
italys wholesale price index rose 02 pct month on month in february 1987 after increasing by 11 pct in january the national statistics institute istat said
however inclusion of texacos equity in the eastern hemisphere reserves of a nonsubsidiary company limited the decline to 291 billion barrels from 300 billion at the end of 1985
telco systems inc telc 2nd qtr march one loss
it said it expects to meet analysts projections of earnings for the full year of 150 dlrs per share and it could possibly exceed the estimate if orders continue strong
earlier allis chalmers said it executed a letter of intent to sell its solids processing equipment and minerals systems businesses to boliden ab of sweden for about 90 mln dlrs
wong kum choon head of the malaysian delegation said he was cautiously optimistic that together we should be able to save inra and prevent it from being scuttled without inra he added prices of natural rubber would become more volatile
austrian gross domestic product growth for this year is likely to be between 05 and 15 pct helmut kramer head of the semi official institute for economic research wifo said
bfi communications systems inc 4th qtr loss
norcens 1986 cash flow fell 10 pct to 2049 mln dlrs from 2289 mln dlrs in the prior year
farm and food trade showed a two billion franc surplus after a surplus of 24 billion in january
dennis mcalpine an analyst with oppenheimer and co said he had speculated the company might be considering a leveraged buyout
but todays smaller than expected rate cut appeared to have placated markets for now analysts said
in absolute terms the measure rose to 2232 billion marks in february from 2218 billion in the prior month
the company said if the decision to disallow the other 20 mln dlrs is not changed earnings would be penalized by another 19 cts
around 300 mln dlrs of the in kind certificates or certs will be mailed out to farmers around march 15 or 16 tom von garlem assistant deputy administrator for usdas state and county operations said
robert brusca of nikko securities co international inc argued that an easier fed policy is unlikely to do much to solve americas most urgent economic problem its massive trade deficit
the debt is rated a top flight aaa by both moodys and s and p
jumardi jukardi head of pertaminas foreign contractors coordinating board gave no details about the outcome of the talks
nusource investments inc a publicly held shell company said it acquired american nutrition works inc through a transaction in which american nutrition shareholders received 28 mln shares of nusource stock in exchange for their shares
they were so startled they wanted to hold back and see what would happen the drop in sales of new single family home sales was sharper than expected some economists said
bat shares were down at 524p in late afternoon trading after a previous 535p close
officials from the meat export federation told that they do not expect a complete lifting of the quota but that they hope for at least a gradual increase in the quota
they noted the purchases of 8000 tonnes in the first week he bought and 13000 in the second are well short of the limitations of no more than 5000 tonnes in one day and 20000 in one week which the cocoa agreement places on him
brazilian red meat output down sharply usda
sun state savings ssslo 3rd qtr net
dixons group said it accepts 54 pct of cyclops shares in tender
united cable television corp uct 3rd qtr net
febres cordero quoted in an information ministry communique said we have to ratify this suspension on debt service to the private international banks
schlesinger said the contraction in the first quarter was mainly due to adverse weather conditions just as occured in 1986
the joint venture will introduce various financial products to the customer base of mitsui and its group of companies the company said
coastal corp said that effective october 16 it had raised posted prices for crude oil by 50 cts a barrel
telecom said in a statement that it will offer 125 pct march 1990 bonds and 130 pct february 1993 stock
of the 02 point contribution of foreign trade to gnp last quarter falling exports knocked off 02 while falling imports contributed 04 point
moodys cuts texas air tex affirms eastern
this is clearly unacceptable for the monetary authorities and politicians in washington he said
asked at the start of the meeting how he felt about the attack the prince who is here on an official visit replied i believe what the united states has done is their responsibility as a superpower the senior us official said his remark was an endorsement of the us attack
and daiwa ran the books for an offering in the us earlier this month
boeing co and argosystems inc argio said they reached an agreement for boeing to acquire the sunnyvale calif defense electronics firm for about 275 mln dlrs
the results were slightly better than analysts forecast and the share firmed to 231p from 222p at last nights close
he said he did not know the maturity of the note
france has sold between 50000 to 100000 tonnes of wheat flour to china the director general of frances cereal intervention board onic bernard vieux said
the sources said the revision is still being discussed and required approval by the federal banking supervisory office in west berlin the bundesbank and west germanys four banking associations
emphasising the impact of mortgage rates on consumer prices lewis said a one point cut in building society rates would reduce inflation in britain by about 04 pct
the facility will be available for 70 days and interest will be at 1 1 4 pct over the london interbank offered rate libor there will be a commitment fee of 50 basis points
freedom federal frfeo seeks buyer
wisconsin public service also said natural gas sales dropped 22 pct mainly because of the growing trend of large industrial customers to purchase gas directly from producers
if not there is going to be continued fear that when pressure emerges on the dollar the fed will be forced to tighten
hosposable products inc hosp 4th qtr net
investor group cuts dba systems dbas stake
in an interview with lyng also said that he had no knowledge of any upcoming discussion of the matter within the cabinet
caterpillar cat reaffirms first quarter outlook
but new outflows of funds to the us will be decreasing however this was already evident three months ago he said
stifel financial said it received unsolicited merger proposal
this was achieved despite a 25 pct drop in the dollars guilder value van driel said
for three years running theyve moscow failed to live up to what we considered was an agreement
an iranian foreign ministry spokesman quoted in a broadcast monitored by the bbc in london said reports that iran intends to threaten shipping in the gulf were baseless
shr 85 cts vs 120 dlrs net 5130000 vs 7236000 revs 936 mln vs 919 mln
saab scania ab is establishing a 100 mln dlr euro commercial paper issuance program enskilda securities said as arranger
the federal funds rate opened at 6 3 8 pct and remained at that level up from yesterdays 617 pct average
the new schedule will feature three daily flights from san antonio to las vegas including one nonstop one direct and one connecting flight via los angeles
were running out of special factors to keep the economy afloat said philip braverman of irving securities corp
advo system inc advo sees break even 2nd qtr
she said the bond share was lifted from 35 pct in the last three months
cleopatra kohlique inc cleoo year net
one valley bancorp ovwv raises quarterly
were not talking high tech or financial services or about a perfume company he said
china has signed 36 oil contracts and agreements with 37 companies from 10 countries since 1979 when offshore exploration was open to foreigners
meanwhile a un spokesman said that as far as he knew a report to the council and secretary general javier perez de cuellar on the action had not been received from the americans
the united states which until recently has been reluctant to criticize japans fiscal stance joined in the attack he said
the issue is guaranteed by brierley investments ltd
terms were withheld
a 100 mln dlr offering of 30 year bonds bears an 8 3 4 pct coupon and was priced at 9960 to yield 8788 pct or 120 basis points over treasuries
the regional breakdown of unwrought aluminium production was as follows in thousands of tonnes the ipai said
us corn acreage with the exception of 1983 has been in the low to mid 80 mln acre range for the past 10 years
martin processing inc mpi 1st qtr net
american barrick resources corp said wholly owned barrick resources usa inc completed the previously announced 50 mln us dlr issue of two pct gold indexed notes which are guaranteed by american barrick
the purchase price was not disclosed
these countries are still prepared to negotiate and the instruments of cooperation developed thus far provide the means to deal with the crisis over time steckhan said
former president robert d
the tonnage sold in both sectors declined due to higher prices and lower consumer demand especially in france and west germany
monfort of colorado inc 2nd qtr shr 103 dlrs vs 134 dlrs
most of it will be through import reduction but at least one third will be due to a rise in product exports as the prices of us goods become more attractive overseas
it might also cause private lenders to become reluctant to extend more credit to the borrowing countries he said
the committee will consider all the pertinent facts and alternatives we intend to make a careful and informed decision but will proceed expeditiously to a conclusion knowlton said
the new figures bring cumulative wheat exports for the period july 1 february 13 to 299 mln tonnes and barley to 296 mln compared with 125 and 189 mln tonnes respectively a year ago
tampico north spain 15000 mt ore two days shinc 3000 shex 5 25 4
in reply to questions poehl also said the half point cut in the discount and lombard rates on january 22 came after the us had signalled it would be prepared to attend a meeting to discuss the level of the dollar on condition germany made such a move in advance the sources said
gaf corp set on acquiring borg warner corps valuable plastics business is believed by analysts to be preparing an increased offer for the chicago based company
oper shr profit six cts vs loss 20 cts oper net profit 734000 vs loss 2312000 revs 168 mln vs 139 mln year oper shr profit 30 cts vs profit three cts oper net profit 33420000 vs profit 318000 revs 675 mln vs 526 mln note excludes loss of 41000 dlrs or nil vs gain 7000 dlrs or nil in qtr and gain 247000 dlrs or two cts vs gain 88000 dlrs or one ct in year from net operating loss carryforwards
qtly div six cts vs six cts prior pay april two record march 18
borg warners chemical and plastics business provided 1986 operating profits of 1533 mln dlrs on revenues of 104 billion dlrs
the bond was trading today at 104 3 8 104 7 8 against its par issue price traders said adding the equity link ensured popularity on an oversupplied eurosterling primary market
ibc details plans to pay creditors
us treasurys baker sees rate stability
steinhardt group has 66 pct of holiday hia 
shr profit 70 cts vs loss 33 cts net profit 2598000 vs loss 687000 revs 7438000 vs 6467000 note 1986 net includes 2168000 dlrs or 61 cts a share for gain on cancellation of long term debt through a debenture offer
the nine banks are oversea chinese banking corp ltd united overseas bank ltd uobmsi banque paribas bangkok bank ltd citibank na standard chartered bank ltd algemene bank nederland nv abnnas banque nationale de paris bnpppa and chase manhattan bank na
shearson lehman brothers inc co managed the two tranche deal
shr 16 hk cents vs 11 interim div seven cents vs five net 21103 mln dlrs vs 13869 mln turnover 58383 mln dlrs vs 44104 mln note dividend payable may 4 books close april 21 to 27
there have been no major oil discoveries for the past 15 to 20 years alaskas prudhoe bay oil reserves the last major world discovery has already produced about five billion barrels of oil or more than half of its estimated reserves he said
the panel is due to submit its report by april 15
senior reagan administration officials expressed warm support for the pins proposal this week which gave ongpin hope that the banks would embrace the idea
finance minister gerhard stoltenberg said last thursday he was looking for other ways to finance the reform such as raising indirect taxes
lower interest rates seen following irish budget
texas instruments txn opinion reaffirmed
twa filed a revised application today following the dots rejection friday of an incomplete application filed last week
the american motors spokesman said he had not seen any indication that a higher offer would be received from chrysler although he added i dont know what the conversation is in the meeting he repeated statements made earlier in the week by the automaker that todays meeting will probably not result in a final decision on the chrysler bid
trade representative clayton yeutter said on monday that the us free trade agreements with canada and israel should help to pave the way for liberalizing the global trading system
hernandez spoke today at the opening of the fifth ministerial meeting of the informal group of latin american and caribbean oil exporters formed in 1983
dayton hudson corp dh votes quarterly payout
coming as it does when san miguel corp and ucpb have reached agreement on the price of the shares and the method of payment this suit is in direct contravention of the governments expressed desire to reach an amicable settlement of the controversy by april 15 the statement added
west germanys chemical industry fears mounting risks will hurt earnings but hopes 1987 turnover will stabilize around 1986s 140 billion marks josef strenger a board member of the industry association vci said
first medical devices corp fmdc year loss
this amount is equal to 363 mln dlrs at the free rate of 150 sucres to the dollar the rate swett said reporters should use in calculating the dollar equivalent
the rainbow merger involves shareholders in both rainbow and progressive being issued shares in a new company astral pacific corp ltd on a one for one basis
simon said bp had carefully considered the amount of its planned bid and he quoted an oil analyst whom he would not identify as saying bps careful evaluation means the company is not going to raise its offer
oper shr profit nine cts vs loss 26 cts oper net profit 313000 vs loss 860000 revs 188 mln vs 164 mln year oper shr profit 45 cts vs loss 47 cts oper net profit 1543000 vs loss 1582000 revs 727 mln vs 614 mln note current qtr and year figures exclude losses from discontinued operations of 179000 dlrs or five cts per share and 901000 dlrs or 27 cts per share respectively
the argentine grain board adjusted minimum export prices of grain and oilseed products in dlrs per tonne fob previous in brackets as follows sunflowerseed cake and expellers 99 97 pellets 97 95 and meal 95 93 sunflowerseed oil for shipments through may 308 300 and june onwards 314 307 linseed cake and expellers 137 136 pellets 115 114 and meal 105 104 all for shipments through june
current half net includes reversal of 2622000 dlrs of investment tax credits
the bank said later that it was leaving its rate for special assistance funds from its second window unchanged at 16 pct surprising operators who had expected an increase there too
pioneer recommended in a statement that shareholders retain their stock pending the boards response once it receives full details of the csr offer
indeed talk persisted last week that japanese investors are planning to re weight their portfolios in favour of the higher yielding markets at the start of japans new fiscal year on april 1
the bill authorizes 2875 billion dlrs as the us contribution to the eighth replenishment of the international development association 5843 mln dlrs to the asian development fund and 7195 mln dlrs to buy 59648 shares of the capital stock of the african development bank
he estimated that 33 pct of the companys shares were in foreign hands
he also said a price freeze would be imposed on 20 basic consumer items mainly food staples while the price of gasoline would rise by between 69 and 80 pct and bus fares would rise by 20 pct
stoltenberg does not rule out intervention
hawker siddeley canada inc year net
m 1 makes up about a quarter of m 2 and a fifth of m 3
fed not expected to act in money markets
london traders were also reluctant earlier to predict the likely tonnage to be authorised for export in view of the on going dispute between the commission and european producers over the threatened action by the producers to move over 800000 tonnes to intervention
hutton efh still interested in purolator pcc 
gencorp said its agreement to sell its rko pictures subsidiary to a management group has been terminated because the group could not raise the necessary financing
the european community ec accused the united states of violating a political commitment to free trade through practices including a tax on imported gasoline and a customs user fee
bank of japan calls for long term efforts on trade
swiss net capital exports rise in 1986
the less dependent non banks are on bank credits the harder it is to steer money supply
the cumulative current account surplus for january and february 1987 totalled 113 billion marks against 114 billion marks a year earlier the statistics office said
prior year net both periods includes pretax charge of 2300000 dlrs from recapitalization costs
the company said it planned to concentrate its resources on the manufacture and sale of cigarettes
exchange rate bill clears us house panel
he accused the us of being irrational he said the us action had made the bilateral chip pact meaningless sabas comments contrasted with those of prime minister yasuhiro nakasone who said tokyo wanted to solve the dispute through consultations
qtly div 55 cts vs 55 cts prior pay june 15 record june 1
offered on wednesday the 100 mln dlr issue had three price levels to attract a wide range of retail investors and small regional institutions said officers of pw korth and co inc and painewebber inc which shared bookrunning duties
the bundesbank may either set a fixed allocation rate and allow banks to tender for the volume as has been the case since it lowered its discount rate january 22 or else it may allow banks to tender for the rate and set the volume itself
fed funds are already easing back down toward the six pct level the recent surge in oil prices has also been a concern to manufacturers hanover futures analyst jim rozich but the rally may be nearing a top around 1850 dlrs per barrel he said
transnational industries inc said due to continuing manufacturing difficulties at its alloytek inc jet engine component subsidiary it expects to report a net loss of about 300000 dlrs or 12 cts per share for the fourth quarter ended january 31
corrected miami brazil bank committee will transmit request for 60 day credit extension
first boston corp and lazard freres and co co managed the deal
international demand was also slow but some inquiries from far eastern buyers were noted in south american producer countries the sources said
about 1300 miners and workers entered today their fourth day of fast in union offices and roman catholic churches to press for a substantial hike in bolivias minimum monthly wage which is 40 bolivianos about 20 dlrs cob leader walter degadillo said
mizuno corp of osaka is issuing 30 mln swiss francs of five year notes with a 4 5 8 pct coupon and 100 1 8 issue price lead manager swiss bank corp said
phillips petroleum co said it raised its crude oil posted prices for west texas intermediate and west texas sour by 50 cts a barrel effective june 17
it has rattled its sword and shown that it can and will do business said analyst nick edwards at jardine fleming securities ltd in tokyo
one source said india is showing more dynamism in promoting countertrade deals than in the past when the deals were made discreetly because they break gatt rules
rumors of a major seller were not confirmed but some traders felt limited potential for further canadian dollar gains might be taking some of the shine off domestic bonds
new milford savings bank nmsb raises payout
the bundesbank is likely to steer a steady monetary course over the next few weeks and a change in credit policies is not expected at tomorrows regular central bank council meeting bank economists and dealers said
us conservation signup seen 10 to 12 mln acres
four sugar cargoes sold to china yesterday trade
she forecast profit of 299 billion dlrs
yeutter emphasized the importance of the new multilateral trade negotiating round and called on congress to quickly approve an extension of us negotiating authority
rapid american completes k mart km store buy
the purchase of orbanco for about 47 mln dlrs in cash and common stock will be effective in 30 days a security pacific spokeswoman said
rowntree seeks 200 mln stg facility cp program
the construction allows inspectorate to borrow at lower cost than a comparable convertible bond and will give the inspectorate equity through issues of participation certificates in west germany a swiss bank corp spokesman said
idb approves trade project loans to members
he added the xj 6 had also to compete with us luxury car producers which would restrict the cars price
last week nakasone ruled out japanese military or financial help to patrol the waters of the gulf
on december 31 1986 exxons total debt of 787 billion dlrs was down slightly from the previous years 79 billion dlrs and long term debt stood at 43 billion dlrs down from 48 billion dlrs in 1985
poland and south korea who are in the market for feed wheat will be offered intervention grain through special tenders traders said
texas petroleum acquires oil and gas properties
altex said the denver based companies had revenues of over seven mln dlrs last year
edelman would not comment and a spokesman for montreal based dominion called the report just rumors burlington said it did not know if the report was true
qtr ended jan 31 shr 67 cts vs 69 cts net 1525000 vs 1570000 revs 412 mln vs 402 mln year shr 175 dlrs vs 154 dlrs net 4001000 vs 3522000 revs 1723 mln vs 1687 mln note figures include losses from discontinued operations in qtr of 309000 dlrs vs 253000 dlrs a year earlier and for the year of 309000 dlrs vs 1559000 dlrs a year ago
it lifted its 1988 projection to 190 dlrs a share from 170 dlrs
qtly div 1 1 2 cts vs 1 1 2 cts prior pay april 15 record march 30
output of chemicals and textiles fell by one pct and minerals by two pct
the value of exports totalled 802 billion marks a decline of 74 pct against the same months of 1986
1986 year net reflects undisclosed amount of expenses for defense of takeover effort
the proposed tax would not only be inflationary but also have consequences for employment and investment he added
some us bankers argued that regardless of politics the rich menu of options in the argentine package makes it attractive enough to justify a 13 16 pct rescheduling rate
shr 30 cts vs 30 cts net 1804000 vs 1800000 nine mths shr 89 cts vs 79 cts net 533400 vs 4496000 note earnings per share reflect initial public offering of 534750 common shares in march 1986 and 2 for 1 stock splits in january and june 1986
shr 28 cts vs 13 cts net 1898000 vs 892000 sales 168 mln vs 153 mln
final terms will be fixed on april 15
rabobank launches 250 mln guilder bullet
however eurostat said the ec was still beaten by japan where prices were provisionally 01 pct lower in may than a year earlier
as a result the overall economic and financial situation improved markedly with inflation down to 41 pct last year from 100 pct in 1983
primary eurosterling market booms despite rate cut
earnings from subsidiaries through profit transfer agreements 4942 mln marks vs 542 mln
the proposed european community ec tax on vegetable oils and fats is no longer a major issue on the agenda and the ec commission merely used it as a threat the west german feed stuffs industry association mfi said
fujitsu makes similar chips and supplies them to us supercomputer makers they said
research cottrell closed at 44 1 4 today unchanged from the previous close
officials in mexico guatemala and ecuador said a continued rise in prices would stimulate production but industry leaders in panama and costa rica said there was still a long way to go
eia says distillate stocks off 32 mln bbls gasoline up 22 mln crude up 75 mln
the average effective rate for adjustable rate mortgages declined 22 basis points to 861 pct the bank board said
we represent the first victim of the move to price other countries natural resources according to the us system zimmerman said
foote said newmont has informally indicated it would vote in favor of the rio tinto proposal
warrington sells shoe divisions
non callable for two years the debt is rated baa 3 by moodys and bbb plus by standard and poors
guinness said last week it planned to take legal action to recover the funds paid to non executive director thomas ward via the jersey company
need for bigger allied force in gulf played down
it said directors also approved a two for one stock split subject to approval by shareholders of a proposed capital stock amendment at the annual meeting in april
there is already evidence that the water level is dropping and it appears the rain has stopped in the area affecting the pipeline stevens said
japan will ratify the 1986 international cocoa agreement icca with effect from july 1 and will renew its membership in the international cocoa organisation icco foreign affairs ministry officials said
denman told rostenkowski an illinois democrat he backed aspects of the bill such as one backing new talks under the gatt and one excluding protection for the textile industry
payment is april 10
qtly div five cts vs five cts prior pay july one record june 17
the department said the november 30 loans outstanding amounted to 200 billion dlrs and inventories 132 billion
the company today reported a loss for the second quarter ended february 28 of 2733000 dlrs after a 6705000 dlr pretax provision for the shutdown of the overseas units and a 2511000 dlr tax credit
but dick van splinter president of rmjs competitor fundamental brokers incs london operations estimates average daily turnover is no more than four to five billion dlrs
he said that with the move called a standstill arrangement brazil was only trying to avoid difficulties in paying its 109 billion dlrs of debt in the future
kansas also said it argued in the icc filing that santa fe had not met the legal requirements justifying the commissions reconsideration of the proposed merger of santa fe and southern pacific two railroads that it said basically parallel each other throughout their routes
np owns a 61 pct working interest
burma which diplomats here say now has foreign debts of up to 34 billion dlrs has applied to the united nations to be reclassified as one of the worlds least developed countries in order to qualify for softer loan and grant aid
plywood credits eyed by reagan administration
principal repayments were not due until 1990
philippines to sign formal debt accord in july
i also have to orga nise the strike weizsaecker is hosting a dinner tonight for paz estenssoro and had invited both lechin and victor lopez the miners federation top leader
fiat finance and trade ltd is issuing a 100 mln dlr eurobond due april 2 1991 at 7 1 4 pct and 101 1 8 pct lead manager morgan stanley international said
federal states deposits fell 15 billion marks to 13 billion and their cash credits dropped 400 mln to 300 mln
computer associates international inc and uccel corp uce said they have signed a definitive merger agreement under which computer associates will pay about 800 mln dlrs in stock for all outstanding uccel shares
major purchasers for the current season were south korea japan taiwan and thailand while south korea and indonesia were the major buyers for the 1987 88 season which begins august 1
cubas november 1986 exports totalled 158000 tonnes compared with 190000 tonnes in 1985 and decembers total was 237000 tonnes down from 518000 tonnes the year before
year current and prior excludes loss 1543000 and 2859000 respectively for estimated loss on disposal of hcl leasing corp
in paris on february 22 britain canada france japan the us and west germany agreed to cooperate to hold currencies around their then current levels
television crews which had been waiting outside naganos home filmed two men smashing their way into the home and later emerging with a bloodstained bayonet
although it is still early to assess the coarse grain outlook the iwc said barley acreage is likely to fall in the european community but increase in canada
the company said its ladder making unit has been losing 300000 dlrs quarterly
although most industry experts expect just a reaffirmation of the december agreement oil prices continue to climb due to a desire to hedge positions in case of any surprises
esquire radio and electronics inc ee 4th qtr
it said shareholders of triangle microwave controlling about 30 pct of the companys stock have agreed to vote in favor of the deal and to give kdi an option to buy their shares under certain components
speaking to reporters after a shareholders meeting he said eurotunnel would offer a menu of securities designed to overcome investor reluctance
lindner chairman of american financial corp holds 162 pct of taft
the caesars world official suggested various forms of payment for sosnoffs stake including other securities of the company and cash he said
azzam said gulf states had been making greater use of short term money market instruments and banks in the region had floated various euronotes and underwriting facilities
it said the price went into effect monday
pan alberta gas ltd said its 1986 proposed settlement with united gas pipe line co of houston received unconditional approval by the us federal energy regulator commission
soo line said in january it was seeking bids for the property
the federal government said calmos systems inc will be given 3075000 canadian dlrs to join the european consortium eureka in a research project involving integrated circuit boards
economists said that a rise in energy prices was expected but a sharp drop in auto prices was not
miles laboratories inc 4th qtr net
uk may revoke japanese financial licenses
usually the issuer of a floating rate debt security swaps into fixed rate debt and vice versa
the companys largest subsidiary georgia power co said the budget for the plant has increased by 63 pct or 522 mln dlrs to 887 billion
securicor unit seeks 50 mln stg credit facility
the bulk of the 253 billion marks investment in new projects up from 294 mln marks in 1985 went on the capital increase of hoechst capital corp in connection with the acquisition of celanese corp celanese was merged with american hoechst in february to form hoechst celanese corp
indonesias coffee output in 1986 87 ending september 30 is expected to stagnate or fall slightly from last years level of 360000 tonnes he said
dna medical dnam signs pact for stock sale
the new head of the bank barber conable has said this issue is being reviewed and will be part of a reorganization plan for the bank now being prepared
the dollar opened at 18155 60 marks against 18187 97 in new york
huges tool company says baker international merger plan not terminated
if the currency breaks through this level it may decline sharply said hirozumi tanaka assistant general manager at dai ichi kangyo bank ltds international treasury division
it said a 156 mln us dlr four well program was planned for 1987
shareholders would get 17 dlrs in cash and a share in each of the two new companies for each existing common share they hold
he said a more important factor was the speed of growth in the us adding its the largest industrial market in the world but he said the company would also be looking at possible acquisitions in europe
the withholding scheme can only be used if prices fall below the 1600 sdr lower intervention price for more than five days and if 80 pct of the maximum buffer stock capacity has been filled or if the buffer stock runs low on funds it says
the new daily limits apply to all but the two nearby positions currently may and july which trade without limits
under the new rules a firm must be the book running lead manager during the two preceding years of 12 internationally distributed debt issues denominated in us dlrs or in one of eight other major currencies
the republican congressmen also said they will offer an amendment to the trade bill instructing the us agriculture department to value the bonus commodities used for eep at the market value rather than the cost of acquisition
the light louisiana sweet grade was also increased 50 cts to 1935 dlrs a barrel
we should recognize ecuadors right to increase its quota there is a basis of justice in that countrys petition he added however the quota increase should be gradual to avoid harming the market he added
its certainly not a disastrous crop at this stage but it might be in a month without some good falls he said
although a number of gold coins especially the canadian maple have been issued elsewhere in an attempt to take the place of the south african krugerrand the british government still feels that there is a gap in the market for a british one ounce gold coin
traders familiar with the opinion said that david eisenberg director of sanford c
lowes cos inc low 4th qtr jan 31 net
telequest inc telq 4th qtr dec 31 loss
we are bringing forward the respective negotiations whose conclusion we hope finalises in the next few weeks finance minister domingo cordovez said last week that quake hit ecuador sought through negotiations to postpone all payments due to the private foreign banks in 1987 until next year
fears that the program would encourage inflation were incorrect he said
trans lux corp said its board declared a five pct stock dividend payable april nine to holders of record march 20
brazil has resisted going to the imf for help because it fears that the fund will ask for changes in its economic policies that will throw it into recession
however the company said in a statement good returns from funds placed with investment managers had partly offset higher interest costs resulting from additional lease financing and other borrowing
the real question is how broad the valley is is it one year two years or three years before we start to climb out jc walter of walter oil and gas corp said the recent improvement in oil prices was not enough for independent producers to begin new onshore drilling projects
the union bank subsidiary of standard chartered plc said today it was raising its prime lending rate to 775 pct from 750 pct effective immediately
the investor group that has agreed to buy computerland corp will likely take the leading personal computer retailer public or sell it to other investors industry analysts said
morgan guaranty australia ltd said it is expanding its 200 mln us dlr euro commercial paper program to include australian dollar issues
the company said manufacturing of mining machinery and tunnelling equipment showed greatly improved results in the us and export markets mainly china and india
group shr 53 yen vs 22 net profit 358 billion vs profit 147 billion pretax profit 494 billion vs loss 248 mln operating profit 536 billion vs profit 789 mln sales 12734 billion vs 13022 billion nine months ended january 15 group shr 134 yen vs 119 net 910 billion vs 803 billion pretax 1978 billion vs 1477 billion operating 1735 billion vs 1600 billion sales 43006 billion vs 44626 billion
for the public offering it said there will be an underwriters overallotment option to purchase 18 mln shares
but special steel boosted by strong demand for stainless cold rolled flats grew by five pct in tonnage terms
csr is also offering one share currently worth 404 dlrs plus 120 cash for every two pioneer shares which values pioneer at 262 per share
full year results exclude extraordinary and other items which raised final 1986 net to 237961000 dlrs or 187 dlrs per share and 1985 net to 152049000 or 129 dlrs per share
weve created a way to set a real value for them one morgan official said
if approved by various creditors and shareholders the company expects the plan to be completed by may 29
in a speech to a womens group here johnson said there is room for stronger domestic growth in those countries strong enough to absorb growth in us export markets johnson also said there was a better alignment of exchange rates now and the paris agreement to stabilize currencies has brought western nations a long way towards establishing that goal
industry sources said that among the options are for venezuela to produce ecuadors entire quota or for venezuela and non opec mexico to share it and for the latter to supply ecuadors far eastern clients
shr 41 cts vs 31 cts net 4568656 vs 3461674 assets 17 billion vs 14 billion deposits 146 billion vs 119 billion note 1986 results restated to reflect a 100 pct stock dividend
the seaway said 1985 was its worst year in two decades
the president authorised the national foreign trade council conex to resume operating as the ruling body of brazils trade policy with participation of the private sector
iranian oil minister gholamreza aqazadeh arrived in algiers at the head of a large delegation for talks on stabilizing oil prices the official news agency aps said
currency traders said it remains unclear what form a final currency union would take for the six states saudi arabia kuwait bahrain oman qatar and the united arab emirates
if the court decides they should be converted at par value of one dlr they could be converted into 220 mln shares
national convenience said its third quarter is usually weak due to winter weather
the agency also said it believes that future profits in the consumer electronics business will be limited because of intense competition from international market participants
it cited toods report of significant and unanticipated losses on a commercial contract and continuing uncertainty over the us navys ddg 51 destroyer program which moodys termed an important business for todds viability
it expects the company to report net income of about 40 cts per share in 1987 and a very significant increase in 1988
the ec commission is to ask member states to agree either a tender system to fix reduced import levies for the maize or to authorise direct imports by the spanish intervention board
work at chittagong port halted by strike
great american issues 15 billion yen eurobond
it applies until july 1 to uranium ore and oxide imported into the us for processing and re export to third countries
oper shr loss 668 dlrs vs loss 995 dlrs oper net loss 539 mln vs loss 698 mln revs 165 mln vs 332 mln avg shrs 8329492 vs 7271668 note 1986 excludes loss 129 mln for discontinued compressor operations vs loss 149 mln year prior
the state department says many us diplomatic missions overseas are on high alert for possible retaliation from iran for mondays attack on two iranian oil platforms by american forces in the gulf
delegates would not speculate on the prospects for agreement at this time
last year shipments were in three parcels of 120000 tonnes each and four of 30000 tonnes each
the combination of republics 459 mln dlrs in assets with pioneers 125 mln dlrs would make the new holding company the fifth largest savings and loan organization in wisconsin they said
official statistics show a reduction in consumption of vodka but this is a deceptive statistic it does not count home brew pravda said
dutch members of parliament said they could do little to help resolve the dispute over redundancies in rotterdam ports general cargo sector and urged the union and employers to sort out their differences themselves
mcgraw hill mhp divests south african unit
pricing will take place on april 1 and the exercise period is between may 18 1987 and april 15 1992
german bond yields seen falling in near term 
stansbury mining corp said it has arranged the financing it needs to bring its vermiculite mine into operation later this year
att t cost cutting efforts on target
spokesman marlin fitzwater said president reagan had no position on recommendations submitted by energy secretary john herrington to encourage investment in the hard hit domestic oil industry
sao paulo state presidente prudente nil votuporanga nil franca nil catanduva nil sao carlos nil sao simao nil
the ministry of international trade and industry miti has urged producers to slash output of the chips by 11 pct in the second quarter following a call to reduce production by more than 20 pct the previous quarter
hepworth sells us unit to globe machine
gerber geb sets deadline for units buyout
earlier today general partners controlled by wagner and brown and afg industries inc said it started a tender offer for all of gencorps shares and stock purchase rights for 100 dlrs a share
in its complaint bancroft said the tender offer materials and letters to shareholders are false and misleading and that the tender offer violates the investment company act of 1940
he said if imports of gifts foreign aid items and materials for joint ventures are excluded the deficit was only 350 mln dlrs and the surplus on invisibles was 700 mln
tenera said it expects a comparable distribution for the second quarter
period ended january 31
weyerhaeuser co said it should have significant increases in earnings in 1987 and 1988 should be another very good year
oper shr five cts vs 29 cts oper net 151000 vs 867000 revs 127 mln vs 141 mln year oper shr 87 cts vs 52 cts oper net 2650000 vs 1565000 revs 547 mln vs 491 mln note oper data does not include 4th qtr 1986 extraordinary credit of 14000 dlrs or 4th qtr 1985 extraordinary loss of 139000 dlrs or five cts per shr
the report said zambian copper production fell to 463000 tonnes last year from 526000 in 1985
the signup period of the 1987 feedgrains program officially ends at the close of the business day on march 30
patient pti considering debt restructuring
bank of japan steps up dollar buying
production in 1985 86 is estimated at 2495 mln tonnes vs 2495 mln last month
but sentiment now looks to have turned about again
payment date is march 23
chi chis inc said it has taken a 20 mln dlr pretax charge against earnings for the third quarter ended january 31 to cover the cost of disposing of 21 underperforming company owned restaurants
hf ahmanson and co ahm qtly dividend
some delegates said the us position appeared to give such broad interpretation to the rules as to suggest that the civil aircraft accord needed re negotiating
smc also proposed to sell a further five mln shares to an soriano corp the family company of san miguel president andres soriano del rosario said
the central bank had placed buy orders at that level and prevented the dollar from falling when it came under heavy selling pressure from investment trusts and trading houses they said
ongpin said the philippines 7 1 2 year grace period was better than mexicos seven year grace period while the pins proposal would result in savings of foreign exchange and generate pesos which would be reinvested in domestic enterprises
that year a tiny car from overseas germanys volkswagen beatle began to gain popularity
ina earned more than 154 mln dlrs from exports of goods and services to 39 countries last year and ranks among yugoslavias leading export enterprises
south africas trade surplus rose to 162 billion rand in february after falling to 9062 mln in january customs and excise figures show
it had a 444 billion yen current profit in the first half of 1985 86
the most likely venue for the envisaged firm is the caribbean tax haven of the cayman islands the sources said
owing foreigners 109 billion dlrs brazil called an indefinite interest payments moratorium on 68 billion dlrs of commercial bank debt
this is up from 131000 tonnes in 1986 partly because of the end of a three year drought in sabah the countrys largest cocoa growing area
in addition farah said it received shareholder approval to change its name to farah inc from farah manufacturing co
but this two pronged approach has drawn little response from the two nations so far and in any case will only work with a sizeable lag economists say
walbro corp said it expects its first quarter results to reach all time highs it projected sales exceeding 32 mln dlrs or up 21 pct from the 26488000 dlrs reported for the 1986 first quarter
shr loss 173 dlrs vs nil net loss 163 mln vs profit 2206000 sales 691 mln vs 291 mln note per share is after payment of preferred dividends
the department said exporters also reported corn sales of 143000 tonnes for delivery to taiwan with 56000 tonnes for shipment in the 1986 87 season and the balance for shipment in the 1987 88 year
the bundesbank had managed successfully to keep interest rates down on the short term money market although its policies had exerted little effect on the long term capital market which was so important for investment financing and thus for the course of the economy it said
the bank of canada will buy 100 mln dlrs of the new issue including 10 mln dlrs of the 2011 maturity
the announcement today brought them back down to 214p from last nights close at 241p
the form of the buyout has not yet been determined and the buyout is subject to a nunber of conditions it said
union officials said industrial action could spread to other states as the federal government also plans to make sharp cuts in workers compensation
qtly div 70 cts vs 70 cts prior pay may one record april three
derlan industries ltd said it acquired 80 pct of aurora industries inc of montgomery illinois for an undisclosed price
once we have had an opportunity to complete our due diligence evaluation of the company including inspections of certain facilities and meetings with key management personnel we would be prepared to negotiate all aspects of our proposal including price it said in its april 8 letter
the quake ruptured ecuadors main oil pipeline suspending crude exports for five months until the line is repaired
international cocoa organization icco council chairman denis bra kanon said he will attempt to reach a compromise on buffer stock rules for the international cocoa agreement
that particular development would maintain broad bank participation in new financing packages to debtors
prudential bache properties inc and graham energy ltd are general partners
fiscal 1986 net includes extraordinary charge of 35 mln dlrs or six cts a share
canadian seafarers threaten strike
qtly div eight cts vs eight cts in prior qtr payable april 30 record april 15 company said its board intends to declare cash dividends quarterly and plans to pay a five pct stock dividend annually following the close of each fiscal year
he predicted the united states would respond to any future major iranian challenges by hitting irans naval base at bandar abbas on the straits of hormuz followed by mining the approaches to irans oil export terminal on kharg island
but an overlifting by texaco inc in the first quarter allowed other companies like exxon corp to underlift its obligations under the contract piw said that that one alternative under consideration is to revert to four individual contracts rather than a collective agrement
suralco alumina exports dropped 75 pct in feb
commerzbank unit issues sterling eurobond
petrobras said the saudis will accept banco do brasil credit guarantees
it rose a revised 05 pct in february and was up 147 pct from a year earlier
loewy believes the foreign debt problem a good crop plus difficulties with storage would help motivate selling of the brazil soybean crop
magellan a company without operations that was formed to acquire an operating entity said it plans to engage in the development and marketing of a battery charger product owned by balzac
johnson and johnson said the us food and drug administration has notified the company its food additive petition for a high intensity sweetener has been formally accepted and now will be reviewed by the agency
he declined to say what action the us would take next april if japan continues to resist us demands
mercantile stores co inc mst 4th qtr net
indonesia is the largest recipient of adb lending
members of the united food and commercial workers union ufcw local 222 voted sunday to go on strike against iowa beef processors inc dakota city nebraska plant effective tuesday
foreign exchange operations can be in mixed currencies instead of having to borrow and lend in the same currency
thats hurricane force
somerset savings bank sosa 4th qtr feb 28 net
for the 12 months ended in february the cpi rose an unadjusted 21 pct
poehl said west germany relied on exports for about one third of its gross national product so a substantial erosion of export markets could not be offset by increasing demand at home
italys foreign trade minister mario sarcinelli commenting on speculation in the italian press said a sharp balance of payments deficit in may could not be attributed to recent moves liberalizing the purchase of foreign securities
this years crop is doubly susceptible because poor prices mean farmers were not encouraged to invest in fertilisers and insecticides and are also unlikely to treat against pod rot
the number of permits for multi family houses fell in february by 117 pct to 529000 units after falling in january by 193 pct the department said
most american aggregates amag stock acquired
the shipment period required was not specified
nbc said its proposal contains assurances that there is no intention to replace regular employees with daily hires nbc said regular employees who may be on layoff would be offered employment first
in the 1985 86 season the awb received 1508 mln tonnes of the 1613 mln tonne crop
total reserves were revalued to 2704 billion dlrs but would have totalled 2415 billion under the previous valuation the treasury said
the sales though were inappropriate in the light of mitis advice to semiconductor makers to sell chips at well above production costs to avoid any hint of dumping he said
atlantic richfield rose 1 3 4 to 77
overseas exploration fell to 28 mln from 58 mln in 1985
the years secondary rains usually occur between april and june although it is not possible at this stage to forecast whether they will arrive as usual
guarantee gfcc units debt on s p watch
grain ships loading at portland
qtly div five cts vs five cts prior pay april 30 record april 10 note bf saul real estate investment trust
the union represents about 2300 workers on the great lakes and canadas east and west coasts
one dealer said the bank of japan probably intervened in australia before the opening here but could not confirm this
no australian treasury note tender next week
the united states recently has been taking the position that countries that take needed economic reform measures relying more on market forces and private enterprise should be encouraged by assistance from the imf and development banks
the company also sold three properties and a part interest in a proposed hotel development which should result in extraordinary gains of 60 mln dlrs in 1986 according to james capel far east ltd
merrill lynch canada inc wholly owned by merrill lynch and co is considering acquiring another canadian securities company as the result of federal and provincial government moves to lift investment dealer ownership restrictions on june 30 according to a published report
non callable for three years the debt is rated b 3 by moodys investors service inc and ccc plus by standard and poors corp
cbt discusses major changes for renovation
economists estimate gross domestic product fell 10 pct last year and 86 pct in 1985
trizec corp ltd 1st qtr jan 31 net
ghana cocoa purchases slow
in an interview with the globo television network transmitted from rome funaro said the reception by representatives of creditor countries with whom he met along the week was always to seek new ways
sela presented the document to a week long conference of latin american financial and economic experts meeting to lay the groundwork for this years annual meeting of the united nations conference on trade and development unctad sela called for new efforts to break the vicious circle of debt stagnation and productive retrogression the region has been immersed in since the beginning of the decade the alterantives to existing approaches for dealing with the regions crushing foreign debt must include greater concessions from creditors according to sela
for 1986 the company reported profits of 78 mln dlrs or 116 dlrs a share on sales of 1539 mln dlrs
oper shr loss five cts vs loss 24 cts oper net loss 165000 vs loss 802000 revs 4988000 vs 3101000 year oper shr loss 13 cts vs loss 133 dlrs oper net loss 454000 vs loss 4407000 revs 231 mln vs 8937000 note results restated for discontinued operations
oper shr profit seven cts vs loss 12 cts oper net profit 216000 vs loss 401000 sales 214 mln vs 249 mln note current year net excludes 142000 dlr tax credit
usda last night notified the grain industry that effective immediately all gulf differentials used to price interior corn would be widened on a sliding scale basis of four to eight cts depending on what the differential is
brazil recently stopped paying interest on its commercial bank debt
japan britain disagree on telecom merger
he added for us investors the cds are attractive because they are domestically issued paper with competitive rates offered by aaa rated japanese banks balaban noted that several fiduciary investors and money market funds which had never previously purchased japanese bank paper submitted bids during yesterdays sale
terms of the agreement were not disclosed
united medical corp said it has reached a definitive agreement to sell its hospital distribution unit to myriad group inc for undisclosed terms with closing expected in the next several weeks
economists polled by said that m 1 should be anywhere from down four billion dlrs to up 23 billion dlrs
quixote corp said dainippon ink and chemicals inc of japan will buy 526315 shares of quixote common stock a 67 pct stake for 10 mln dlrs or 19 dlrs a share
corrected major swiss banks raise customer time deposit rates 1 4 point to 3 1 4 pct credit suisse
the following are proposed securities offerings filed recently with the securities and exchange commission outboard marine corp up to 200 mln dlrs of debt securities on terms to be set at the time of sale through an underwriting group that is expected to include salomon brothers inc and morgan stanley and co inc
but the official denied the plan amounts to interest rate capitalisation a development until now unacceptable to the banks
multilateral agencies by their very nature are lenders of last resort
under an agreement between the two companies revlon must have the permission of gillettes board before making an offer to shareholders
consolidated group premiums totaled 1700 billion lire in 1986 compared with 1490 billion the previous year
in a lecture at the university of surrey pre released here koehler said that the only alternative to cooperation was protectionism and control on capital movements
i think that an increase would be totally wrong
the officials added that while the curbs complicated us japanese economic cooperation they did serve to blunt congressional criticism that the reagan administrtation was not taking tough actions to reduce he us trade deficit
proceeds will be used for general corporate purposes including possible repayment of bank debt product development and possible acquisitions helen of troy said
feds seger says us thrift industry needs stable interest rates
on debt lawson said he expected a three point british plan to alleviate the burden of the poorest sub saharan countries to make progress in venice
each warrant is exercisable into 100 shares of common stock of japan synthetic rubber
the complaint reviews the price action of avia stock from march 1986 and noted the plaintifs who purchased stock between 19 dlrs and 25 dlrs per share
operating income of its telephone operations which account for 91 pct of the total rose eight pct to 7360 mln dlrs
uae central bank cd yields higher
kuwait says opec 24 mln bpd below ceiling
fhlbb changes short term discount note rates
nowak said the company has done an outstanding job reducing expenses and arco is poised to generate greater earnings power he said first quarter earnings will likely exceed the companys expectations stated yesterday and be in the 115 120 dlr a share range
spadine said the mild winter in many parts of the north american continent has led to a build up of gas inventories and less would be necessary to replenish underground storage this spring freeing gas for spot sales
the strategy has drawn a serious challenge from brazil which suspended interest payments on 67 billion dlrs of commercial bank debt last month
commerce bank set loan loss provisions of 6360 mln dlrs in fiscal 1986 ended october 31
murphy oil corp mur sets regular dividend
technical measures wont be enough to protect the ems against external factors such as dollar weakness
for its part the government is expected to increase budgetary discipline which in turn is likely to attract foreign investors the sources said
the price fell from 24 dlrs to 1650 dlrs a share following the reebok announcement
planning minister gonzalo sanchez de lozada told that bolivia was hoping for five to six billion dlrs in new investment over the next 10 to 12 years
frank b
lyng indicated the two countries have been unable to agree on the mix of concessional and commercial aid and that washington would prefer the package include something other than donated food
the company said it is redeeming the debentures to meet mandatory sinking fund requirements
dome currently is seeking to restructure about six billion canadian dlrs 45 billion us dlrs in debt which it took on several years ago when oil prices were high and the company wanted to expand
the bond with a yield at issue of 643 pct will pay annual interest on april 29
a total of 706470 tonnes of french sugar and 79000 tonnes of west german sugar has been accepted into intervention trade sources said here
irrigation development has been a major factor in improving agricultural performance and yields in many areas but fall short of their potential due to unreliable water supply and often inequitable distribution it noted
in a filing with the securities and exchange commission the chicago based hotel casino gambling and amusement concern also said the anticipated charge against first quarter earnings will not be deductible for federal income tax purposes
fees comprise 7 8 pct selling concession and 3 8 pct management and underwriting
bayou said it will also receive two seats on solmecs board
the number of reported cases has doubled over the past 20 years he said to 40000 cases annually
the securities will be listed in luxembourg
crude oil imports in the week fell to 340 mln bpd from a revised 360 mln api added
there will be an underwriting margin of up to of 3 16 pct over the london interbank offered rate
the central bank of zambia said the kwacha was pegged at 1699 to the dollar compared to last weeks rate of 15 to the dollar
he said that now was the time for major nations to act under the paris accord
bahrain launched a weekly tender for two mln dinars of 91 day treasury bills in mid december last year and has since raised a total of 26 mln dinars through the programme
they continued the process of multilateral surveillance of their economies pursuant to the arrangements for strengthened economic policy coordination agreed at the 1986 tokyo summit of their heads of state or government
healthcare services of america inc said it will write off about 16 mln dlrs in non recurring expenses in 1986
the proposed note issuance facility for elders ixl ltd has been reduced to 100 mln australian dlrs from the original 200 mln dlrs lead manager westpac finance asia ltd said
the current account deficit was 912 mln dlrs in the fourth quarter of 1985
mattson also declined to comment on whether the directors of baker and hughes have scheduled any meetings to discuss the merger
in 1986 the company earned 4513 mln dlrs or 221 dlrs a share on revenues of 349 billion dlrs
they said that if the fed does act it will likely add temporary reserves indirectly by arranging one to 15 billion dlrs of customer repurchase agreements
consumers say when this cocoa is the cheapest the buffer stock should buy it rather than compete with chocolate manufacturers for premium priced high quality cocoas
jamesway corp jmy 4th qtr jan 31 net
period ended jan 31 shr 38 cts vs 61 cts net 7012000 vs 11193000 revs 2230 mln vs 2003 mln year shr 111 dlrs vs 136 dlrs net 20214000 vs 23602000 revs 6565 mln vs 5205 mln avg shrs 18257631 vs 17376480
a return to growth and stability did not require spectacular central bank moves but could be done quietly with open market operations and repurchase pacts which would avoid an interest rate rise by dampening inflationary expectations
capital spending for the year was 119 mln dlrs against 105 mln for the previous year with 50 new stores opened but total sales were below target woolworths said
dart said it continues to be interested in acquiring supermarkets general in a friendly manner noting it has given the company the tune that you suggested in order to allow you to evaluate the available options dart now owns 19 mln supermarkets general shares slightly less than five pct of those outstanding
concern over el nino in peru usda report
there is no need for action hermann remsperger chief economist of berliner handels and frankfurter bank bhf said
mafina bond with warrants set at 250 mln sfr
it reported earnings of 36 cts a share in 1986 which included two large writeoffs
the exercise period runs from april 8 1987 until march 6 1989
pasars smelter is in the central province of leyte
cash distribution 42621 cts vs 32384 cts prior pay april 14 record march 31 note companys full name is san juan basin royalty trust
american physicians service amph 4th net
bankers prefer to view the stance taken by the british banks and other national groups as a matter of principal and burden sharing rather than as a pressure tactic to force the us banks to make up their share
the letter of credit has a five year term with an evergreen feature allowing for extension at the support banks option
the national pork board announced at the american pork congress convention in indianapolis that refunds under the legislative checkoff program are running less than expected
he said the offer would be made at a meeting later this month between us trade representative clayton yeutter and ec external relations commissioner willy de clercq
intrepid museum continues reorganization talks
cohn said the bank stocks may be risky until numbers on non performing loans are reported for each bank
overnight rose two points to six pct while most quotes for tomorrow next and spot next were 1 2 point higher at around six 5 1 2 pct
orders for defense capital goods rose 489 pct to 69 billion dlrs following a 388 pct decline in january
us naval forces destroyed an offshore oil platform and raided another in what the administration called a measured and appropriate response to an iranian silkworm missile attack last friday on a us flagged tanker in kuwaiti waters
in addition to reassure other creditors alusuisse had arranged with three major swiss banks union bank of switzerland sbgzz swiss bank corp sbvzz and credit suisse crszz to convert 300 mln francs of credits into a subordinated loan
mathematical applications said the business working capital is estimated to be about 600000 dlrs
1985 excludes discontinued operations loss of six cts a share in the quarter and loss of two cts in the six months
outboard marine om sells 915 pct debentures
alimullah said exports rose 18 pct to 35 billion dlrs from 29 billion dlrs in 1985 86
new rubber pact to be formally adopted tomorrow
liquidity is expected to remain tight over the next month and this will put upward pressure on interest rates
the state owned philippine national bank pnb will fund toyota motor corps toyot planned purchase of its bankrupt former local partners manufacturing facilities for at least 193 mln pesos a bank official told reporters
bastian said alternatives being considered include an attempt to acquire cosmo through a merger tender or exchange offer seeking to influence the companys management and policies and seeking representation on cosmos board of directors through a proxy contest or otherwise
1987 nine mths also excludes 79 mln dlrs for estimated net gain on disposal of discontinued operations as of march 31 1987 including linotype group amphenol products ampex corp
under the commissions system for stabilising consumer prices in the oils and fats sector a reference price of 700 ecus per tonne for refined soy oil would be introduced tanghe said
after the firms recapitalization substantially all of its assets will be pledged to secure bank and other debt totaling 14 billion dlrs
wheat ria luna 20000 mt norrkoping and djuron ec mexico 1250 dlrs option loading uddevalla at 50 cents less 4000 1500 16 23 3 continental
the february 22 louvre accord called for efforts to stabilize currencies at then current exchange rates
hamburgische landesbank girozentrale is issuing a 50 mln canadian dollar issue due may 6 1990 carrying a coupon of 8 1 4 pct and priced at 101 3 8 said merrill lynch capital markets as lead manager
the well initially tested at a maximum daily flow rate of two mln cubic feet of gas and 304 barrels of condensate
tesfay accused the west of intransigence in the negotiation of recent commodity agreements
above target bankers balances would add 10 mln
the bank said merrill lynch international and co is co lead manager
proceeds of the bond sale will be used for general corporate purposes
multi tiered financings are a relatively new wrinkle on wall street
banks had also cut credit lines it said in court filings
telemedia to buy harrowsmith equinox magazines
figures do not tally exactly because of rounding
the company has 10855 of the 5 7 8 pct preferred shares outstanding it said
wisconsin power and light co wpl votes payout
shr loss 931 dlrs vs loss 162 dlrs net loss 162 mln vs loss 28 mln revs 994 mln vs 965 mln note 1986 includes loss of 39 mln dlrs from restructuring
with 285 of the 4000 strong workforce on strike the union will tell the committee the government has a duty to help solve the dispute that has been disrupting the general cargo sector for more than seven weeks the spokesman added
lambert has sold 240 mln common shares to other board members advisory board members alan h
payment date is april 23
calumet industries cali sees 2nd qtr loss
todays announcement came before a departure later today of a 15 member taiwan delegation for washington for a series of trade talks with us officials
the icc had ordered the holding company to divest one or the other railroad but stayed its ruling pending a decision on the request for reconsideration
kaplan is also controlling shareholder of hunt valve co inc the amount of the cash transaction expected to close in april was not disclosed
leigh pemberton said he recognised there are some who would argue that interest rates are still too high and deter investment in industry
in the year chemicals and plastics earned 472 mln dlrs against losses of 142 mln dlrs in 1985
shr 21 cts vs 20 cts net 596000 vs 594000 revs 8693000 vs 8164000 nine mths shr 61 cts vs 58 cts net 1784000 vs 1653000 revs 263 mln vs 230 mln
the wholesale market in treasury bills is very active said michael berry vice president of the securities firm walwyn stodgell cohran murray ltd
sheikh abdul aziz said that during that year the government decided to limit recurrent expenditure each month to one twelfth of the previous fiscal years allocations minus 15 pct
hong kong recorded a 351 billion hk dlr deficit in february after a 254 billion dlr surplus in january as imports climbed and exports slid the census and statistics department said
first quarter revenues increased to 112 billion dlrs from 9608 mln dlrs in the prior year
the canadian government has called in a labor conciliator to try to hammer out a contract agreement between the two sides
kacek
we expect the ministry to give us permission by the end of april he said
chuan hup said the issue has been arranged and managed by singapore international merchant bankers ltd simbl simbl has invited commonwealth bank of australia national australia merchant bank singapore ltd bank of china the bank of comunications co ltd dg bank gzb asia ltd kleinwort benson singapore ltd malayan banking bhd and nm rothschild and sons singapore ltd to subscribe at a price of 100 pct
wisconsin electric power co said it began a public offering of 700000 shares of serial preferred stock 6 3 4 pct series 100 dlrs par value at a price of 100 dlrs per share
hernandez said while opec and non opec nations have already made some strides in their efforts to strengthen the market the danger of a reversal is always present
the official declined to give details but securities sources said they expect the 16 pct withholding tax on t bills to be repaid immediately when governments and central banks buy bills
hecks inc hex 4th qtr jan three net
cotton prices are almost twice what they were just six months ago which should prompt many farmers in the south to put soybean land back into cotton
aside from the g 5 session today bundesbank president karl otto poehl is due to meet the german affairs group on international monetary issues later
shr 22 cts vs 19 cts net 11 mln vs 994000 year shr 83 cts vs 60 cts net 43 mln vs 31 mln note1985 net includes tax loss carryforward gain of 8000 dlrs
non redeemable for life the issue is rated a 3 by moodys investors and a by standard and poors
prices are most likely to rise in the fourth quarter on european and us stockbuilding for winter they added
commenting on 1986 seipp said we were able to raise the full operating profit slightly above the record result of 1985 because own account profits increased slightly he gave no concrete details but added that in january and february good own account trading profits meant that the drop in full operating earnings was more modest than that in the partial operating figure
the central bank did not post the rate of the pound to the dollar and other currencies on monday
midwest cash grain slow country movement
dollar final dividend will be determined by sterling dollar exchange rate may 18
it said on completion of the acquisition it would change its name to voice systems and services inc
qtly div 20 cts vs 20 cts previously pay april 15 record march 23
group raises scandinavia fund scf stake
the trade deficit which hit an estimated record 696 billion dlrs in 1985 86 is expected to decline to 56 billion in the current fiscal year
the dollar straight sector of the eurobond market ended easier after a subdued days trading as us banks began to match yesterdays surprise 1 4 point prime rate hikes by citibank and chase manhattan bank dealers said
austn feb annual m3 money supply rises 112 pct
oper shr 78 cts vs 51 cts oper net 7030000 vs 4944000 revs 1266 mln vs 1209 mln year oper shr 159 dlrs vs 89 cts oper net 147 mln vs 9864000 revs 4251 mln vs 4169 mln note net excludes realized gains on investment of 73000 dlrs vs 4224000 dlrs in quarter and 6253000 vs 145 mln dlrs in year
usair u rejects twa twa takeover bid
as of friday dixons group plc had acquired 2455000 cyclops shares giving it 83 pct of the total
note dividends payable june 2 books close april 16 to 24
mcivor said it was important to continue to search for oil outside the middle east because each addition contributes to a diversity of supply desirable for global political and economic stability
whirlpool corp whr 1st qtr net
tie communications tie renews agreements
the paper said abnormal weather conditions had encouraged the spread of wheat midges in 247 mln hectares in shanxi henan sichuan anhui hebei and jiangsu
timex corp sells unit
african trade sanctions
gold ecu coins with a face value of 50 ecus will be sold from the same day
lynch corp subisidiary lynch entertainment corp said it formed a general partnership called coronet communications co which has acquired whbf tv station in rock island ill
the bank of italy said the cumulative balance for the first two months of 1987 does not match the total calculated on the individual monthly figures because of the provisional nature of certain data
crude oil and natural gas exports totalled 456 billion crowns in february against 510 billion in january and 536 billion a year ago
sandox buys stauffer seeds
applications totalled 440 mln ringgit for the 100 mln of bills on offer
it was a review of the fate of the mexican deal and of others that followed it for chile venezuela the philippines and argentina that helped to convince reed that the debt crisis was not about to be solved and that citicorp needed to bolster its reserves in case some of the loans went bad
japanese corporate earnings will rise 89 pct in fiscal 1987 88 for the first year on year increase in three years partly because of the yens stable exchange rate the nomura research institute said
the warrant will be for a term of two years
mcintyre said it also remains contingently liable for certain obligations now totalling about seven mln dlrs which will reduce over time as smoky river continues to operate
s and p said the action reflected prospects for continued healthy markets over the next few years
what we do know is that a substantial exchange rate adjustment has already been made he said
he said an ad hoc committee of the adb board of governors comprising 18 african and non african countries recommended a 200 pct increase in the organisations capital for 1987 91
john mowlem plc the uk building and construction company has arranged a 50 mln stg commercial paper program with an option to issue notes in us dollars mowlem treasurer philip ridal said
petrol supplies would also be limited
the company said the debt converted represents about 40 pct of the total 60 mln swiss franc convertible debentures it completed last fall
belgiums gdp growth may slow down to 15 pct this year and next year bringing a rise in the number of jobless the oecd said in its semi annual survey
flowers said losses suffered in its west texas operations and in five plants acquired at the start of the third quarter from cfs staley continental and wolf baking co severely hurt results
shr 41 cts vs 39 cts net 223 mln vs 204 mln revs 6311 mln vs 6448 mln avg shrs 51551000 vs 50128000 nine months shr 116 dlrs vs 113 dlrs net 643 mln vs 596 mln revs 190 billion vs 203 billion avg shrs 50868000 vs 50028000 note all results reflect five for two common stock split payable in the form of a stock dividend payable july 10 1987
shell australia reports 4579 mln dlr 1986 profit
southam to sell 49 pct interest in brandon sun
the engineering employers association gesamtmetall is offering to bring in a 38 hour week from july 1 1988 and give a two stage wage increase a 27 pct rise from april 1 this year and another 15 pct from july 1 1988
subcommittee chairman dan glickman d kans said his committee would be looking at the certificate program later this year and studying the general accounting office report on certificate costs
the bank of france sold 16 billion francs of 850 pct march 1987 99 caisse de refinancement hypothecaire crh state guaranteed tap stock at an auction the bank said
japan rating agencies in battle with us giants
greece replying to a warning from turkey that it will stop athens from seeking oil in the aegean sea repeated today that it has an exclusive right to decide where or when to drill in the area
s and p said it is making a rating distinction between secured and unsecured debt because of the significant amount of secured in holidays capital structure
johnson at first chicago agreed citing political opposition in washington to a dollar defense package at a time when congress sees further dollar depreciation as the key to reducing the us trade surplus with japan
xidex corp xidxo 1st qtr sept 30 net
it said the rights will be distributed on a one for one basis to all shareholders as of october 30 and may be redeemed before they become exercisable at five cents per right
year to end dec 1986 proposed dividend 45 francs vs 3450 francs note full name of company is moet hennessy sa mhsppa
subsequent rates on the inverse floater will equal 11 1 2 pct minus the product of three times libor minus 6 1 2 pct a thomson officer explained that the coupon of the inverse floating rate tranche would increase if libor declined
iraqi oil minister replaced official
goldman sachs said it originally bought the stake as part of its arbitrage business
this need for additional reassurance was made all the more acute by the feds decision yesterday to drain reserves from the banking system by arranging overnight matched sale purchase agreements for the first time since april of last year economists added
last years output was 124 mln bushels down from 127 mln in 1985
claremont tells sec it seeks 15 pct champion products stake two board seats
1986 nine mths excludes gain of 34 mln dlrs from sale of subsidiary bank 1986 and 1987 shr and avg shrs restated for one for 50 reverse stock split
morse shoe inc mrs 4th qtr net
nppc delegates approve disease and drug programs
1986 qtr and nine mths includes loss 4850000 dlrs or 23 cts per share and 146 mln dlrs or 70 cts per share respectively from payment of preferred dividends
the company said any holders surrendering debentures for conversion after march 15 other than those surrendering for conversion on march 31 will be required to pay to the conversion agent an amount equal to the interest paytable on the debentures on march 31
in the companys newly released annual report and 10 k filing gulf states said its bank lenders had notified the utility last month that no additional credit would be granted
danish crops are up to two weeks behind normal growth levels due to the cold weather in may and june when mean temperatures were up to four centigrade below average the state plant cultivation bureau said in a report
but the agency is also wrestling with a vexing new phenomenon of huge and rapid swings in stock prices spurred by computer driven trading strategies that span markets in securities options and futures
quest medical inc qmed 4th qtr loss
shr 39 cts vs 31 cts net 232991 vs 198185 revs 29 mln vs 23 mln year shr 220 dlrs vs 112 dlrs net 13 mln vs 715113 revs 113 mln vs 101 mln note1986 revs includes 260000 dlr finders fee net includes 112000 gain from sale of securities 115000 dividends 78000 dlrs from lease recalculations
he said the us administration was ignoring the progress that has been made and instead emphasizing the problems that remain when it talks with congress
personally i think its an illusion
but the group did not strongly back either option saying there were benefits and drawbacks to both
but volcker has warned that a further fall in the dollars value is fraught with danger
during 1988 and 1989 the cost escalation of the first half of the 1980s will reverse
diplomatic and banking sources in kinshasa agreed that a compromise formula could be reached in the coming weeks enabling pro western zaire to obtain a much needed injection of cash
it said that indonesias move into sugar self sufficiency in 1984 may have been short lived
the companies cited a combination of extraordinary market conditions and unresolved terms of the merger as contributing to the action
he was in defiant mood last night telling turkish radio we can never accept that greece should confine us to the anatolian continent
sama decreased the offer price on the 900 mln riyal issue to 9950586 from 9951953 last saturday
revlon buys germaine monteil cosmetics from beecham group for undisclosed terms
spot prices have fallen in recent weeks to more than one dlr below opec levels
four congressional panels met today to consider portions of a wideranging trade bill that intends to help us companies sell more products abroad and to fight unfair foreign trade practices
tandy corp tan 1st qtr sept 30 net
computer associates international inc said its board has declared a two for one stock split payable may seven record april seven
neither the trade nor current account figures are seasonally adjusted
based on the previous january figures issued on february 9 wheat exports increased by nearly 64000 tonnes and barley by about 7000 tonnes
the agreement signed on tuesday with britains export credits guarantee department was the first in nigerias tour of creditor nations
the rise reflected recovery in almost all sectors after an exceptionally cold spell in january the bureau said adding that the highest rises were seen in the forest chemical and metal industries
butler mfg co said it signed a memorandum of intent to acquire naturalite inc a manufacturer of skylights
schwab safe co ss ups payout
canada threatens ban on danish pigmeat imports
the dollar will fall more but the current account deficit will stop being reduced when it reaches its structural core he said
1986 qtr and nine mths includes gain 6233000 dlrs and 155 mln dlrs respectively from utilization of net operating loss carryforward
viacom international inc said the us district court for the southern district of new york denied the motion of carsey werner co for a temporary injunction to block the proposed merger of viacom with a subsidiary of national amusements inc carsey werner is the producer of the cosby show
the sec charged nahum vaskevitch a managing director of merrill lynch pierce fenner and smith ltd with profiting from inside information about 12 companies involved in mergers
the contribution to overall february 1987 volume from idb business was 4310 billion stg against 4319 in january
the coupon on the 300 mln dlr equity warrant bond deal for mitsubishi estate co ltd has been cut to three pct from the 3 1 4 pct initially indicated nikko securities co europe ltd said as lead manager of the deal
the vessel was on a voyage from trombetas brazil to matanzas cuba carrying 50000 tonnes of bauxite
s african consumer inflation falls in september
the company said it expects the transaction to be completed by september 1 1987
new production later this year from a bingham utah mine owned by kennecott corp a unit of british petroleum co plcs bp standard oil co a mine in new guinea and phelps dodges own expanded morenci ariz mine will be offset by production shortfalls in mexico and zambia he said
the six nations agreed in paris exchange rates prevailing then were broadly consistent with underlying economic fundamentals and further substantial rate shifts could damage growth and adjustment prospects in their countries the paris statement said
pricing and conversion terms will be fixed on april 19 and payment date is april 30
a 0 92 program would have very little impact on us acreage prompting farmers to idle only an additional 35 mln acres of cropland every year according to a report from the agriculture department
investor martin t
the notes will be issued in any maturity of between seven and 364 days and the funds will be used for the companys general financing requirements
a counter proposal from creditor banks to argentinas request for rescheduling its 50 billion dlr foreign debt was full of holes an argentine observer at negotiations said
geoffrey pyne analyst at stockbrokers phillips and drew said he was impressed by the sensible us response
6 at the same time group members said they held short positions in the stock totaling 830000 shares
oper shr loss five cts vs loss six cts oper net loss 157688 vs loss 96573 revs 1094331 vs 1378973 avg shrs 3315654 vs 1661023 six mths oper shr loss seven cts vs loss 24 cts oper net loss 198555 vs loss 394589 net 2243377 vs 2440850 avg shrs 2796848 vs 1637592 note current year 2nd qtr and six mths excludes a loss 10767 dlrs for discontinued operations
hoechst invest nv a dutch finance subsidiary of hoechst ag of west germany is issuing a 130 mln swiss franc five pct bond lead manager credit suisse said
producers intend to present a single candidate for the post and this is most likely to be edouard kouame from ivory coast they said
she said exceptions would also be granted in cases where a swedish trade boycott would benefit south african firms and disadvantage south africas black ruled neighbours the front line states
dai nippons share price rose 20 to 1800 yen on the tokyo stock exchange today
charles schwab announced the completion of the 280 mln dlr purchase from bankamerica co of charles schwab and co inc and its holding company charles schwab corp
american express board approved nippon life purchase of shearson interest
dixons group plc said shareholders at a special meeting of cyclops corp approved the previously announced merger of cyclops with dixons
perus reserves fell sharply due to a drop in the trade surplus to about five mln dlrs in 1986 from 11 billion in 1985 according to preliminary central bank estimates
fed expected to take no money market action
quarter point prime rate increases to 7 3 4 pct by citibank and chase manhattan bank today will be followed by other banks only after they see clearer signs of the federal reserves policy intentions economists said
but bundesbank president karl otto poehl has often made it clear in the past he opposes such gestures as mere eyewash economists said it was really up to the bonn government to cut taxes rather than for the bundesbank to ease monetary policy to meet pressure on west germany at the venice summit
datron corp said it agreed to merge with ggfh inc a florida based company formed by the four top officers of the company
we have run this alternative proposal to the accounting firms
britton lee blii sees first quarter loss
housing starts fell 27 pct in may and consumer spending rose a weak 01 per cent
ackerman has been named chairman of data access as well and two other phoenix representatives have been named to the data access board
talks fail to end brazilian seamens strike
so far this coffee year kenya has sold 918707 bags to all markets of which 326182 are for the 1986 7 pool with an overall average price of 41500 shillings a tonne it added
smith barney harris upham and co analyst edward atorino lowered his rating on mcgraw hill inc from a strong buy to a buy saying earnings this year will be a little less than he previously expected
the bonds will be issued in 5000 dlr denominations and listed in luxembourg
oil and field natural gas liquids production totalled 86000 barrels a day compared to 87000 bpd in the prior year
budapest bank issues bonds to expand resources
nz unemployment rate 39 pct in december quarter
starrett housing corp sho 4th qtr net
the company said in spite of the sec decision it still feels its allowance for possible loan losses at june 30 1986 was adequate and that it has considered all relevant information to determine the collectibility of the five mln dlr receivable
for example on the first 350 tons of production a grower would receive 6 cts per lb in fiscal 1988 45 cts in 1989 3 cts in 1990 and 15 cts in 1991
shr profit 20 cts vs loss two cts net profit 2665000 vs loss 202000 revs 121 mln vs 5993000 year shr profit 35 cts vs loss 11 cts net profit 4653000 vs loss 1167000 revs 351 mln vs 180 mln note current qtr includes gain of 11 mln dlrs from tax benefit
sama reduced the offer price on the 500 mln riyal issue to 9678906 from 9682031 last week
they expected the fed will supply temporary reserves indirectly via 15 to two billion dlrs of customer repurchase agreements
the bank said in a statement that it forecasts a small net cash injection into the system over the settlement week
blue gass breeders blgr completes acquisition
deak international buys johnson matthey
soybean crops were reported to be in generally very good condition helped by abundant rains and high temperatures
science accessories seaso ends purchase talks
attempts last week to win a compromise on both the bond issue and the larger dispute failed james kinnear texacos president and chief executive officer told reporters
it said benjamin w
they said that while 86 billion of the 30 billion franc revenues expected for 1987 from a sweeping privatisation program will go to providing public companies with fresh capital 214 billion francs or two thirds will go toward paying off national debt
perkin elmer corp said it acquired atomika technische physik based in munich west germany a high technology concern specializing in surface science instruments
the banking groups consolidated balance sheet total rose to 4534 billion schillings at year end from 4254 billion
following the lead of other major banks southeast banking corp told the securities and exchange commission it would place 542 mln dlrs of medium and long term brazilian debt on non accrual or cash status
varity said continued deterioration in major markets a weakening us dollar and unforeseen delays in launching major new lines of tractors contributed to the full year loss
zaire and imf in economic rescue talks
ameritrust said it was advised that the clevebaco group has filed an application with bank regulatory authorities seeking permission to acquire up to an additional three mln shares of ameritrust common stock
mexico colombia argentina and others rejected such action and mexican finance minister gustavo petricioli merely said brazil is having problems we are sure will be temporary but brazils action has had an impact on other debt negotiations speeding agreement for chile and venezuela last month and influencing current talks with argentina
indonesias palm oil output is expected to rise and exports to increase the us embassy said in its annual report on indonesias agriculture sector
santos ltd stoss year end dec 31 net profit 8867 dlrs vs 14404 mln
asked how long that would take he said we want to see a pattern of compliance so in a minimum i would say that would take a few weeks yeutter said he did not think there would be much consumer impact by the tariffs on 300 mln dlrs worth of japanese goods because the items selected are also readily available from other countries and manufacturers
some 120 billion francs of the loan will be taken up by members of the issuing consortium comprising major commercial banks and the remaining 30 billion by publicly owned credit institutions
the unilever plc and nv una group saw improved performance in almost all sectors during 1986 the anglo dutch group said in its results statement
the inflation outlook while broadly satisfactory has worsened in recent months with oecd consumer prices forecast to rise 35 pct this year and 375 pct in 1988 after a 28 pct increase in 1986
analysts said they foresaw uk base rates falling as early as today by as much as one full percentage point after lawsons announcement yesterday that the public sector borrowing requirement in fiscal 1987 88 and 1988 89 was to fall to 10 pct of gdp or some four billion stg
rio grand rgdc unit in partnership agreement
the quake struck northern ecaudor and southern colombia according to ecuadorean officials
the company said petroleum sales slipped slightly to 4043 mln barrels per day from 4082 mln bpd in 1985 while crude runs rose to 30 mln bpd from 29 mln bpd the previous year
us bank paper under light pressure in market
the ban had threatened food shortages of imported wheat fresh vegetables and medicines
the increase in us banks prime rates prompted concern about renewed inflation but the strength of the us dollar discouraged new buying
backlog 230 mln dlrs vs 147 mln dlrs at start of fiscal year and 148 mln dlrs at the end of the first quarter
i understand the japanese concern
the bbb senior debt of two international units chrysler credit canada ltd and chrysler overseas capital corp was also affirmed
we didnt see that a year ago he said
keystone said its agreement with le clip sa of switzerland is effective through march 31 1990
trading in hk telephone shares was suspended on october 15
the companys sales totaled 67 billion dlrs last year
qtly div ten cts vs ten cts pay april 15 record april 1
inflation is running at an annual rate of some 17 pct and the rand is around 4953 us cents
forstmann little said it acquired sybron in february 1986 and since that time sybron has been substantially restructured with new management lower corporate overhead and a new location in saddle brook nj fortsmann little said goldman sachs and co will act as its financial advisor for the move
doe alleged trigon caused overcharges of 624208 dlrs by improperly classifying its oil as newly discovered crude a classification that allowed charging higher prices during a period of price controls
but he said there were no incidents
the commission which regulates the states oil and gas industry heard testimony from a number of high level company executives reflecting a belief that the recent industry downturn had bottomed out
amc was in need of a financial savior because of its losses of more than 800 mln dlrs since 1980 and pressures in france for renault to cut its backing
in a warehousing scheme a group of investors acting in concert would each amass stock in the company without disclosing that they have an agreement among them
opec is scheduled to meet in vienna on june 25 where it will review its current oil price and production policy
told of a survey published today which estimated that opec output so far this week was below 15 mln bpd he said that could well be correct opecs news agency opecna today issued a statement saying group output was well below its ceiling in february
while forecasting more adjustments if gulf prices fall burgess said no other changes in usdas price system are being planned right now
seal inc said it acquired ademco ltd a united kingdom company which distributes mounting and laminating equipment and supplies for a combination of cash and stock valued at 26 mln dlrs based on current exchange rates
separate import and export figures were not given
the number of people actually receiving benefits under regular state programs totaled 2436000 in the week ended march 21 the latest period for which that figure was available
ctc dealer holdings ltd said canadian tire corp ltd controlling shareholders alfred david and martha billes did not extend an agreement expiring yesterday to tender their shares only to ctcs previously reported offer for 49 pct of canadian tire common shares
discount window borrowings in the week to wednesday were 935 mln dlrs a day producing a daily average for the two week statement period of 689 mln dlrs the highest since the week of december 31 1986 and up from 393 mln dlrs previously
agriculture ministry officials have forecast a 1987 88 cotton harvest of about 200000 tonnes down from 215000 in 1986 87
lamp said that if the exchange is successful the company will report profits much higher than the three cents a share reported in the first quarter of fiscal 1987
the measure was adopted as part of a wide ranging trade bill that will be considered by the full house in april before it moves onto the senate
earlier the company reported 1986 earnings ended january 31 of 890 mln dlrs or 149 dlrs per share versus 946 mln dlrs or 161 dlrs per share in fiscal 1985
1986 excludes gain of 987 mln for extinguishment of debt from companys chapter 11 filing and subsequent reorganization
oecd directors are expected to approve the release at a meeting in mid may
lucas industries plc lucsl halfyear ended jan 31
oper shr profit six cts vs loss two cts oper net profit 225000 vs loss 91000 revs 4814000 vs 3339000 year oper shr profit 12 cts vs loss two cts oper net profit 415000 vs loss 73000 revs 164 mln vs 169 mln note data does not include from discontinued operations 4th qtr 1986 gain of 632000 dlrs or 19 cts per shr 4th qtr 1985 loss of 250000 dlrs or seven cts per shr 1986 year loss of 4054000 dlrs or 117 dlrs per shr and 1985 year loss of 606000 dlrs or 17 cts per shr
but komatsu is reluctant to push hard for a similar decision on a gottardo subsidiary
but a western diplomat warned that potential us buyers would not give china the warm reception it received in japan
tridel enterprises inc sets initial dividend
details of the plan have not been made public
weiss said sales for 1987 have been strong following a net loss of 1548000 dlrs or 53 cts a share for the fourth quarter of fiscal 1986
it goes far beyond investor protection shad said
indonesia oil contract negotiations end this month
paine webber pwj in four mln share offering
federal paper boards outstanding 125 mln dlrs of subordinated debt will be redeemed with the proceeds from the convertible preferred issue the agency noted
mcrae industries inc mrib 2nd qtr jan 31 net
cheyenne chyno buys interests in properties
the loan was approved by the korean finance ministry because it is for use outside korea and will not raise the countrys indebtedness he said
shr profit 277 dlrs vs profit 135 dlrs net 1550 mln vs 774 mln nine mths shr loss 143 dlrs vs profit 366 dlrs net loss 604 mln vs profit 1952 mln assets 4515 billion vs 4269 billion loans 3633 billion vs 3446 billion deposits 297 billion vs 233 billion
last year barbados boosted its capital market borrowings with a small private yen placement in the japanese market
although lawson denounced what he said was the current wave of election fever in britain he added it is more likely that there will be an election this year than not
taiwan to issue 12 billion dlrs worth of bonds
marshall steel ltd formerly marshall drummond mccall inc said it will report a 17 mln dlr net gain before taxes this year from the sale of its drummond mccall division which was sold effective january one
natural gas production fell to 5360 mln cubic feet a day from 5910 mcf a day
the seafarers international union which represents about 2300 workers on the great lakes and the ocean coasts has said it will likely go on strike this spring to protest employers demands for wage rollbacks and other concessions
world bank loans to china seen doubling
the indian council said it hoped indias exports to australia would improve in the next few months and reduce the trade balance which is heavily in australias favour
it attributed its better than expected forecast to sales growth which it said were particularly strong overseas
shr 146 dlrs vs 113 dlrs net 14650000 vs 11270000 sales 265 mln vs 2271 mln avg shrs 10020000 vs 9980000 note earnings are pro forma including the increase in common shares that took place last october when the company went public through an initial offering of 14 mln shares
shr 111 dlrs vs 110 dlrs shr diluted 103 dlrs vs 102 dlrs net 8186000 vs 8114000
but building societies said they would not cut lending rates until base rates had fallen by one full point
indications of forgeries came to light on wednesday at morgan guaranty trust co in london which acts as euro clears depositary and exxon said they were confirmed today
there has been a reassessment of sterlings fundamentals lawson said
british printing alleges the effect will be an enormous increase effective on the june eight record date for the dividend in the number of harcourt common shares issuable upon conversion of the debentures
the company is making an announcement at this time in response to analysts fourth quarter revenues and earnings per share estimates of 29 mln to 32 mln and 24 cts to 30 cts respecivtely said raymond meyo president and chief executive officer
company was formed dec 30 1985
the us agriculture department said private us exporters reported new sales of 900000 tonnes of corn to the soviet union and 350000 tonnes of corn switched from previously announced unknown destinations to the ussr
on march one purolator agreed to a 35 dlr a share leveraged buyout by eight purolator executives and ef hutton lbo inc a unit of ef hutton group inc
the area is between three and 160 miles off the northern coast of alaska in the artic ocean between the canadian border and 162 degrees west longitude
shr 50 cts vs 26 cts net 1316000 vs 656000 note qtr 1987 includes tax gain 500000 dlrs or 19 cts per share
federal reserve board chairman paul volcker said a restrictive monetary policy would be damaging to investment and that a better course would be to restrain spending
the company said it believes an acquisition could be completed by june 30 subject to approval by regulatory and atlantic mutual policyholders
qtly div six cts vs 4 1 4 cts prior pay april 10 record march 23
after the plan was presented working group delegates met briefly in smaller groups of producers ec consumers and all consumers to look at the proposal
the cereals intervention board onic wheat producers association and the national union of agricultural and cereal cooperatives have not yet forecast 1987 88 exports or end of season stocks
the stock are now expected to match the standard and poors 500 index rather than outperform the index as previously expected
it said about 50 mln pounds of poy production will be shut down as a result of its exit from the business
the company said the stock split is subject to approval by its shareholders at its upcoming annual meeting
more he said they had decided in a meeting that if the marines take over the ships the seamen would abandon the vessels and let the marines handle the situation by themselves
northern telecom ltd nt declares stock split
enron ene to pay dividends on preferred
bond analysts said that in view of the states practice of weighting the bulk of its capital market borrowing in the first half of the year it would be likely to raise at least four billion guilders
mitsubishi motors australia makes 19 mln dlr loss
halbert president and chief executive officer of halbert an abilene investment firm was named chairman and chief executive of summit the company said
valley federal vfed splits stock two for one
products made at the plant represent less than 1 10 of one pct of du ponts annual sales it said
qtr prior ended jan 17 1986 and included two more weeks than current qtr
canadian roxy petroleum ltd year net
binks mfg co bin regular dividend set
the company is trying to boost imports but has not set a specific target
iran lost most of its refining capacity early in the gulf war and now imports several hundred thousand bpd of refined products
philippines social security to buy san miguel shrs
it issued no further details
the yield on the bills for sales to banks and securities houses from money houses will be 39497 pct against the 39375 pct discount rate for two month commercial bills and the 443 32 pct yield on two month certificates of deposit today
latin american officials are also concerned that varying interest spreads granted to different debtor nations could generate discord as with the philippines recent protest at being given less favourable terms than argentina
world bank loan raised to 450 mln guilders
quebec issues 30 billion yen eurobond
electronics retailing is very management concentrated theyd want to keep crazy eddies management in place laurence said that since entertainment marketing already owns 43 percent of crazy eddies 313 million shares it may be trying to get the antar belzberg group to increase its 7 dlr a share offer
most of the impetus behind countertrade which began in 1984 comes from two state trading firms the state trading corp stc and the minerals and metals trading corp mmtc the two state trading corporations are free to use their buying power in respect to bulk commodities to promote indian exports a commerce ministry spokeswoman said adding that private firms are excluded from countertrading
crude oil prices up as stocks output fall
yesterday crazy eddie agreed not to oppose a slate of candidates to its board proposed by the committee to restore stockholder value a shareholder group led by the oppenheimer palmieri fund lp and entertainment marketing inc em that has been seeking to oust current management
judys inc judy 4th qtr jan 31 loss
exports rose to a record 693 billion last month from 620 billion in january
however the dealers were uncertain exactly how the dispute over the shareholdings had been resolved
mizrahi editor of mideast reports expects opec to meet before june although not immediately
at an opening address to the annual meeting of the inter american development bank here baker is likely once again to bluntly reject alternative approaches like wholesale debt relief
he weinberger opposes it
the cumulative total of cattle slaughtered under the program from april 1 through march 13 is estimated at 1032300 head it said
the company said the lighter weight would allow smaller powertrains and suspensions further reducing weight and improving fuel economy
the crop since january has been hit by high temperatures and inadequate rainfall
in december cpc acquired arnold foods and old london for a total of about 170 mln dlrs
reute
csr said it will announce further details of the offer soon including an alternative offer of csr shares for pioneer sugar stock
foote 83 pct owned by newmont mining corp said newmont has informally indicated it would vote in favor of the rio tinto proposal
he said the country had been loyal to the principles of the cartagena group of latin american debtors but had decided to reach an agreement convinced that venezuela is a specal case because of the vulnerability of its economy venezuela signed a 12 1 2 year rescheduling accord in february 1986 but immediately sought new terms because of falling oil income which dropped 40 pct last year
the new shares will rank for dividends declared after october 31
us officials said darman also played a key role in shepherding president reagans sweeping tax reform plan through the us congress
non interest income totaled 3426 mln dlrs in the third quarter up 47 pct or 1097 mln dlrs largely due to increased income from foreign exchange trading fees and commissions
president leon febres cordero on friday estimated total damage caused by the quake at one billion dlrs and said that as a result ecuador would maintain januarys suspension of interest payments on its foreign commercial bank debt
the survey covering a broad section of institutional investors also showed that investors were uneasy about the impartiality of market makers advice
hoechst ag of west germany said it has completed the acquisition of celanese corp
but keating said domestic demand could fall slightly this financial year and net export growth will provide the total source of gdp growth
it was unclear whether the gao congress investigative arm would stick by its original analysis that it costs the government more to use certificates instead of cash in farm price and income support programs reagan administration sources said
but he said japanese traders were in a position to have an idea of the quantity he had sold noting that traders overall had put buffer stock sales at between 25000 and 35000 tonnes
did people really expect a patent remedy he asked
money market rates rates showed a harder edge after news uk chancellor of the exchequer nigel lawson has set a target for the pound against the mark and dollar to be maintained by a mixture of interest rates and intervention in the foreign exchange markets
he also refused to speculate on when an overall agreement might be reached
it said the 75 mln dlr gain from the sale and about 125 mln dlrs of statutory surplus that previously supported operations of the group being sold will be used to support transamerica life cos efforts to accelerate the growth of its remaining businesses
tofutti brands tof sees profit for new year
oppenheimer industries inc said it expects to report a loss for the year ended january 31 of about 980000 dlrs compared with a profit of 211074 dlrs a year before
venezuela sees oil stability despite gulf attack
the federal statistics office will today publish trade and current account figures for february a spokeswoman said in reply to queries
she estimated a takeover price would be at least 15 dlrs per share
total capital corp said it acquired dunhill compact classics inc for an unspecified amount of stock
neoax inc noax 4th qtr
turning to exchange rates the official said the substantial drop in the dollar is beginning to have an effect on reducing the imbalance in world trade even though the impact has taken longer than expected to show through
only 11 of these 37 super giant fields lie outside the middle east and only five of the 37 have been discovered in the last 20 years three of them in the middle east he said
avalon corp said that deltec panamerica sa has arranged to sell its 23 pct stake in avalon and that deltecs three representatives on avalons board had resigned
suharto has also ordered a government committee to look into which of indonesias 215 state run companies could be sold
abbott laboratories inc said its 1987 first quarter record results reflected continued productivity improvement higher volume better product mix and a weaker us dollar
south africa recorded annualised real growth in gdp of 325 pct in the first quarter of this year and the economy should achieve the governments target of three pct growth for 1987 the reserve bank said
paul volckers resignation as federal reserve board chairman creates a serious leadership vacuum at a time of deep uncertainty about the future management of the third world debt crisis bankers said
qtly div class b 1 1 2 cts vs 1 1 2 cts prior class a two cts vs two cts prior pay april 30 record april 15
cattle slaughter is guesstimated at about 125000 to 131000 head versus 129000 week ago and 119000 a year ago
some market sources speculated an outside buyer such as general partners might even be be a catalyst to resolution of the challenges since it would carry out gencorps plan to sell the stations
the four major japanese securities houses now take turns underwriting corporate bonds
the following rainfall was recorded in the 24 hours up to 1200 gmt today parana state cascavel nil ponta grossa nilcampo mourao nil londrina nil maringa nil
computerland to be acquired by investor group
dyr said the pay date for the dividend will be april 28
we have informed washington of our intentions and weve already been an integral part of ownership of us oil reserves he pointed out
since those imports in 1983 84 the us has been facing increased competition from south africa in taiwan and japan
bsn corp said its agreement to sell 1750000 new common shares or a 25 pct interest to 31 unaffiliated european institutional investors for 304 mln dlrs has become definitive
rainbow corp ltd said brierley investments ltd bil is trying to disrupt rainbows planned merger with progressive enterprises ltd rainbow chairman allan hawkins said in a statement in our opinion bil have deliberately tried to create anomalies in the market prices of rainbow and progressive shares since the merger was announced the merger announced in february involves the formation of a new company astral pacific corp ltd which rainbow and progressive shareholders will enter into on a one for one share basis
the yens 40 pct surge against the dollar over the last two years has frightened foreigners with tales of the 40 dlr melon the 120 dlr taxi ride from the airport and rents of 15000 dlrs a month
economic spotlight chinas foreign debt up
excludes 1987 qtr 1694000 operating loss carryforwards vs 78000 qtr prior
vanderbilt gold corp said shareholders at a special meeting approved its reincorporation in delaware an increase in authorized common to 25 mln shares from 12 mln shares and a non qualified stock option plan
the volume of zero coupon bonds and floating rate notes the most widely used financial innovations in germany stands at four billion and 16 billion marks respectively a tiny proportion of the 1000 billion marks of bonds in circulation
brazils central cank president francisco gros said he sent a telex to creditor banks friday to clarify confusion over brazils request that banks expedite procedures for renewal of short term interbank credit and trade credit lines
acme said the management group dropped its bid due to continued weakness in the machine tool industry and in acme precisions operating results and to the inability of the management group to obtain modifications to terms of its financing commitment
banks received more liquidity through routine month end payments by public authorities as well as expansionary market factors than was lost through the 23 billion mark rise in cash in circulation to 1223 billion the bundesbank said
novo astro operates brazils richest gold mine located in amapa state with an average grade of 08 ounces of gold a ton in a hardrock quartz vein consolidated tvx said
trafalgar house buys us builder for 20 mln dlrs
air canada the state owned airline said it signed a letter of intent to acquire 65 pct of ems corp a calgary based messenger service which operates in western canada and the us gelco corp gel earlier said air canada agreed to buy its canadian gelco express ltd unit for 54 mln us dlrs
purolator retains its stant division which makes closure caps for radiators and gas tanks
having a market at our disposal which is as homogeneous and accessible as that of europe is an incredible piece of luck he told le figaro in an interview
the warrants are exercisable at par value currently 10 cts per share until march 20 1997
the second tranche is for the period april 14 to july 14
the whole trend of inspection for the last 10 years has been to corrupt and to degrade the system where today the public is at constant risk to contaminated and adulterated meat kenneth blaylock president of the american federation of government employees told a house agriculture subcommittee
loan losses which the bank previously said figured in its move to sell off most of its assets rose to 1057 mln dlrs in fiscal 1986 from year earlier 361 mln dlrs
new york business loans fall 195 mln dlrs
comshare inc csreo 1st qtr sept 30 loss
southwest realty swl year loss
the alternatives include continuation of the companys existing business plans possible business combinations sales of stock restructuring and the sale of all or part of the company
argentinas total oil and gas production fell 94 pct in february to 278 mln cubic metres from januarys total of 311 mln cubic metres the state oil company yacimientos petroliferos fiscales ypf reported
indias sugar output to january 31 in the 1986 87 season october september rose to 366 mln tonnes from 346 mln in the same 1985 86 period the indian sugar mills association said
usda announces world market rice prices
citicorp filed an 8 k form with the securities and exchange commission indicating a material change in its financial situation
nsw state premier barrie unsworth has said workers compensation has risen steeply in recent years and the proposed cuts would save hundreds of mlns of dollars a year
trading will be computerised and scripless
japan buys 4000 tonnes canadian rapeseed
german net currency reserves rise 400 mln marks to 870 billion bundesbank
world vanadium production capacity is still believed to be adequate to cater for any foreseeable demand it added
bedford computer corp year net
chancellor of the exchequer nigel lawson also warned yesterday of the negative effects that a trade war could have on the british economy
if metropolitan were to exercise the option and acquire all of hacks stake it would have 471208 metex common shares or 359 pct of the total
he said sudan had reached agreement with the soviet union and its east european allies to service half of its debts to them in commodities with the rest in hard currency
japan has said it may be forced to reduce ore imports from india next year if new delhi fails to reduce the price one source said but declined to give further details
knight said the independent was not affecting the telegraphs growth but was making inroads into the circulation of other london quality dailies such as the times and the guardian
morgan shares firmed two pence to 318p at 0905 gmt from 316p at fridays close
xerox corps affiliate rank xerox ltd said it signed a definitive agreement to sell its rank xerox south africa pty ltd affiliate to altron group alrno for undisclosed terms
the current south american oilseed harvest mainly soybean is likely to be around 257 mln tonnes against the previous 217 mln tonne crop they said
they got a 1 16 reduction
georgia pacific to have 60 mln dlr pretax gain from sale of georgia gulf stake
the ecs affairs in china are currently looked after by whichever country holds the groups six monthly rotating presidency now held by the belgians until the danes take over in july
japanese prime minister yasuhiro nakasone will draft a reply to the criticism following further discussion a posts and ministry official said
trump makes bid for control of resorts rtb 
as a result banking communities serving entire economies are put at a competitive disadvantage he added
nerci ner unit closes oil gas acquisition
the water is rushing by so fast that we cant get any divers down to assess the damage but there is some possibility that the pipeline could be up by the end of the week a company source said
but the us embassy replied that chinese figures showing 13 years of trade deficits with the us out of the last 15 are inaccurate and said peking itself would have to persuade congress to change laws which limit its exports
analysts have speculated that carl lindner may be interested in acquiring the company
careplus inc cpls 4th qtr net
to fitness inc tfit year dec 31 loss
the transaction expected to be closed in march involves the controls divisions energy management and power line carrier product lines
an election could be delayed until mid 1988 but most forecasts say it will be this year
on the us west coast netback values for ans cif la also jumped sharply up 40 cts a barrel or 22 pct to 1882 dlrs on higher gasoline prices
it was up 1 8 today at 40 3 8 above the emery offer
the bundesbank left credit policies unchanged after todays regular meeting of its council a spokesman said in answer to enquiries
arizona forecasts will be dropped for lemons oranges grapefruit and tangerines in november december february march may and june with forecasts retained in october january april and july it said
cotton and rice are pakistans main exports which have been handled exclusively by state corporations since early 1970s
the plan adopted in december 1986 permits clevite to issue shares at half price to existing stockholders and allows stockholders to buy shares of an unfriendly bidder at half price
loh said the banks participation in the stock market has increased business transactions and provided long term growth for the market
rising imports of japanese made cars and electronic goods may upset west european officials but they generally seem prepared to stay on the sidelines in the latest trade row between the united states and japan
banco di roma unit arranges euro paper program
moreover volckers successor alan greenspan has little experience of international affairs and third world debt
senate wants japan semiconducter pact enforced
northgate which produced 23400 ounces of gold in first quarter said that while the strike slowed production we are still looking forward to a very satisfactory performance the chibougamau mines produced 81500 ounces of gold last year
sumita says bank will intervene if necessary
the heavy volume also meant most borrowers except the very best addresses were having to accept higher coupons
the united states and japan are not involved in a trade war despite us sanctions announced last week against japanese semiconductors us trade representative clayton yeutter said
earlier this year chase manhattan banks cmbn subsidiary decided to stop foreign exchange trading after heavy losses and focus instead on fee based merchant banking
with money supply growth showing no sign of slowing down in may and the dollar stable or even rising against the mark schlesinger told that he was not convinced that a further cut in interest rates was needed
japans overall wholesale price index base 1980 fell 01 pct in february from a month earlier to 864 for the second consecutive month on month fall the bank of japan said
terms were not disclosed
our goal is for a merger to occur
numac oil and gas ltd nmc year net
cambrian and general securities plc said the london stock exchange has restored the listing of its 50 mln dlrs of secured floating rate notes dated 1992 at the companys request
the reforms tighten the rules for the use of foreign aid to subsidise export credits in so called mixed credits the oecd said
the proposed stock split will be paid may 29 in shares of class a shares the company said
the report states that total net proved reserves at years end stood at 25 billion barrels an increase of 94 mln barrels or four pct above the previous year and detailed data show that the gains resulted from an increase in net proved reserves of natural gas liquids
this sale announcement follows the public float in march of around 13 pct of the bank of new zealand ltd the government has said it will also float part of the capital of other state owned operations including dfc new zealand ltd formerly development finance corp of new zealand ltd and petroleum corp of new zealand ltd
paper discounted with the bank also rose by 477 mln guilders to 916 mln
may ajusted sterling bank lending up 27 billion stg after 15 billion in april official
p and o shares stood at a late 616 27p lower on the day
roger hemminghaus diamond shamrock vice president and soon to be chief executive of the spin off diamond shamrock refining and marketing co said refining and marketing is a margin business
us immigration rules spark congress objections
how can i tell that we are ready to fulfill the agreement if the united states does not want to offer us grain at competitive prices said albert melnikov deputy trade representative of the soviet union to the united states
we dont have any particular changes in mind earlier today gaf announced that a 316 billion dlr offer was presented to the board of directors of the chicago based company
national medical enterprises inc said it filed a registration statement with the securities and exchange commission covering 300 mln dlrs of debt securities
however the release this month of almost 600 mln dlrs of deficiency payments was equally divided in cash and certs doing nothing to bring up the percentage of certs
prior periods restated to reflect sale of discontinued operations
the company today reported a profit of 165600 dlrs for the first half ended january 31 after a 396000 dlr gain on the sale of assets and a 10000 dlr extraordinary loss
a spokesman for the governor said nothing will be decided today but said the governor will evaluate later whether to call a special session in the next few days
sprinkel repeated his call for further cuts in us government spending and for resistance to tax increases
hoogovens said the acquisition would strengthen its position as a supplier to industry of high value metal products
these agencies included the office of management and budget and the departments of interior and commerce he said
another problem area delegates said was the question of price differentials for different origins of cocoa bought into the buffer stock by which the buffer stock manager could fairly compare relative prices of different cocoas offered to him
based on data for the week ended april 9 the adjusted world price for upland cotton is determined as follows in cts per lb northern european price 6288 adjustments average us spot mkt location 998 slm 1 1 16 inch cotton 180 average us location 053 sum of adjustments 1232 adjusted world price 5063
the potential risk factors are very large relative to what we had expected said a director at one uk merchant bank
qtly div 41 cts vs 41 cts pay june 10 record may 29
shr loss 11 cts vs loss 48 cts net loss 254000 vs loss 784000 revs 941 mln vs 473 mln avg shrs 2317000 vs 1642000 note share adjusted for stock dividend and reverse split
no formal offers had been made but catto would not elaborate
taihei kogyo issues 40 mln sfr five year notes
those shareholders who elect to convert their shares into class b stock will be entitled to 10 votes per share while other shareholders will retain one vote per share lennar said
debt among african countries will continue to grow and their economies remain stifled unless developed countries lower their interest rates nigerian trade minister samaila mamman said
as a major superpower the united states can influence international organisations he said citing recent meetings aimed at stabilising currencies as an example of the extent to which western nations were prepared to cooperate
last week spethmann told the annual meeting thyssen expected to post a good profit in 1986 87 despite expected losses in the mass steel making operations this year
this already exceeds the seven billion dlr ceiling for the whole of 1987 that the government set in june during talks with the international monetary fund aimed at averting a too rapid revaluation of the won against the dollar
currently it must be shut twice a year
metropolitan financial mpc to acquire company
he described the dollars sharp fall against the yen at the start of the week as a passing incident and added everyone is resolved to support the paris accord questioned about his plan to help the worlds poorest countries chirac said he did not envisage any large scale debt write offs
a five pct credit only for geological and geophysical expenditures
tokyo is expected to propose a joint us japan investigation of american claims that japanese companies are dumping cut price chips in asian markets
extraordinary debit of 50 mln stg related to the decision to seek a buyer for the companys us assets
miyazawa was also quoted as saying that he is sceptical about the effectiveness of currency reference ranges even if major nations agree on such an idea as it is extremely difficult to set such ranges
amoskeag bank amkg to acquire entrepo
allegheny international inc said its chairman and chief operating officer will remain in their positions following the merger of the company with an affiliate of first boston corp
minntech mntx sees first quarter loss
march illinois ex chicago 132 1 2 pct bid 140 offered up 2 1 2 points
the payment date is may 14
gotaas larsen shipping corp gotlfo 3rd qtr
qtr ends may 31 shr 20 cts vs eight cts net 509043 dlrs vs 202473 dlrs revs 2106462 dlrs vs 1158621 dlrs nine mths shr 58 cts vs 50 cts net 1465271 dlrs vs 1240773 dlrs revs 5854819 dlrs vs 4640687 dlrs
the official target for 1987 gnp growth is eight pct
that meeting ended without agreement on new buffer stock rules
the study has not been officially released due to objections from some countries
other issues discussed include ratification of the new accord the officials said
harcourt which is fighting off a takeover bid from british printing and communication corp plc has declared a special dividend on common stock of 40 dlrs in cash and 12 pct preferred stock with a market value of 10 dlrs per share
the investigation which is still active mushroomed in recent months as a growing number of well known traders and prominent investment banking firms have been charged with wrongdoing
the construction industry was likely to engage new workers for the first time since 1980 but they predicted either no rise in employment in the manufactured goods industry or only a slight expansion
the borg chemical business is great said rose adding its only us competitors are monsanto co mct and dow chemical co dow
analysts however said supermarkets general is facing problems due to its purity supreme and rickels operations which might make it difficult to thwart a bid
the bank cut its rate to 7 3 4 pct from eight pct on march 9 the first change since january 2
anglo american aivjj year to dec 31
the company has slashed its workforce to 47000 from 86000 in 1976
there were few offers in a tight market and traders scrambled for any available funds
kennametal inc kmt 1st qtr sept 30 net
the state owned kenya ports authority kpa signed an agreement with the hamburg based shipping line unimar seetransport to establish the kenya national shipping line with an initial capital of 100 mln shillings sources said
rosenbaum could not be reached later in the day for comment on a new formula for calculating ico quotas agreed to by european coffee roasters and traders
the institute cautioned that the expansionary stance of monetary policy in west germany was likely to bring a marked acceleration of inflation
the volume is 27 pct higher over 1986 sales which totalled 36 mln cubic meters or 226 mln barrels
shr 257p vs 215p div 6p vs 4p pretax profit 2413 mln stg vs 1640 mln net after tax 1508 mln vs 1052 extraordinary credit 871 mln stg vs nil turnover 1408 mln vs 9655 note the extraordinary item comprises profit less losses on the sale of certain subsidiaries less related tax and minority interests
peerless manufacturing co said it has sold its industrial sensors and instruments division and panhandle equipment co subsidiaries for a total of 635000 dlrs in cash
inflation would fall to 85 pct in 1987 and 75 pct in 1988 from 89 pct in 1986 and further falls in real wages were expected anz said
no immediate explanation was given for the changes
while call money has dropped by well over a percentage point the bank of frances money market intervention rate has remained unchanged since january 2 when it was raised to eight pct from 7 1 4 pct in a bid to stop a franc slide
they take collectively around 94 pct of total australian exports
net assets being acquired come to around nine mln stg
the inflation data compares with market forecasts for a rise of 04 05 pct in february and a yearly rise of about four pct economists said
in a statement the company said they had received offers of up to 68 pct of the rights and that they would accept all
it is subject to repayment of the debt on or before that date at a discount of approximately 8600000 dlrs in principal and cancellation of approximately 1800000 dlrs of current and deferred interest the company said
negotiations between indonesias state oil company pertamina and foreign oil contractors on extension of the standard 30 year production sharing contract will be concluded by the end of this month a pertamina official said
cotton in mln 480 lb bales stocks july 31 1987 at 540 vs 549 last month
it said it planned to spend some 15 mln stg on refurbishing its odeon cinema chain and the rank film distributors unit was committed to spending 20 mln to secure international distribution rights of films
turkey estimates 1986 growth at eight pct
administration officials familiar with the negotiations said brazils new economic measures did not make much sense based on current conditions in that country and added that they saw long and difficult negotiations ahead
he is chairman of the europe south and south east african conference lines and joint managing director of p and o containers ltd
hata added it is not constructive to speed up negotiations in some areas at the expense of others
there will be no co managers
he said he believed brazil might be in a position to resume debt repayments within a year
thrift industry sources said they do not see a major near term impact on the southern california thrift market but do expect citicorp to be a more aggressive competitor than sears was in that market
pan am corp said its largest division the atlantic will report a first quarter loss that will be substantially lower than that reported a year ago
merrill lynch in london said any further amplification on the sec charge against its executive nahum vaskevitch would have to come from the firmss new york office
the borrower has the option of redeeming the bonds from 1994 at 100 3 4 then declining by 1 4 point annually until maturity
elsinore said it has guaranteed the payment of the bonds
the company said it expects to repay the two year loan through equity preferred and debt offerings and possibly internal funds and the sale and or leaseback of aircraft
economists polled by had forecast m 1 in a range from down 500 mln dlrs to up 45 billion dlrs
heyman said the chemical industry has taken a total of seven billion dlrs in pre tax writeoffs during the past two years to trim balance sheets
carlsson told a news conference the party decided the fight against apartheid took priority over swedens traditional policy of only adopting sanctions with the backing of the un security council
the yield and premium over treasuries was greater than a similar financing in january
total shut a 12 inch line that runs across the ouachita river from wynnewood to ardmore with a capacity of 62000 bpd as well as several smaller pipelines a few inches wide with capacities of several thousand bpd or less zollinger said
around a sixth of this tonnage has so far come in under a reduced levy system and the ec cereals management committee may decide this week to authorise the spanish intervention board to make direct purchases
national distillers dr closes almaden sale
his ministry was formerly known as the industry and mineral resources ministry
celltronics inc said its directors declared a one for 10 reverse stock split of its common stock
the amount of a eurobond issued yesterday by walt disney co ltd has been raised to 75 mln australian dlrs from an original 60 mln lead manager warburg securities said
shearson said it offered the novel cds yesterday to mostly institutional investors
a cash alternative would offer 646p for each share in superdrug
it would take about 100 mln us dlrs to repair the pipeline the official who did not want to be named told 
the company also said the other partner is lombardo communications inc a wholly owned corporation of phillip lombardo
in an interview with the west german weekly magazine der spiegel prime minister branko mikulic said last weekend yugoslavia had repaid 283 billion dlrs in principal and interest between 1981 and 1986
under the january contract aramco was to purchase 134 mln bpd for the four partners allocated among them as exxon corp xon 440000 bpd texaco inc tx 350000 bpd mobil corp mob and chevron corp chv 550000 bpd between them
coastal to file proposed plan for transamerican liquidation on april 15
the sudden crisis between sri lanka and its giant neighbour deepened as prime minister ranasinghe premadasa told parliament we have our territorial limits and nobody can be allowed to trespass there president junius jayewardene has ordered the army navy and air force to protect the island and its territorial waters premadasa said to a round of applause from the house
they said the plan would dominate discussions at two day energy talks between officials of the two countries in washington from april 1
say said proceeds from the sale would be used to increase the companys market share in automotive products packaging and diversify its packaging capabilities
consequently monetary growth may return to more modest levels heller said
the fed previously said industrial production rose 04 pct in january
cox estimates that the bank of england has been active selling sterling over the past few days despite the lack of general market talk of such intervention and this has helped keep it below 160 dlrs
sales gains in home appliances and home fashions reflect a continuing strength in the housing market said edward brennan chairman of sears roebuck and co s which reported an overall sales gain of 42 pct
springs industries inc smi 3rd qtr oct three
speaking to a news conference following the pdvsa annual assembly hernandez said pdvsas income from oil sales had dropped to 72 billion dlrs in 1986 down 45 pct from last years 133 billion
usair was halted on the new york stock excahnge for dissemination of the news
year ago results restated to reflect deconsolidation of guaranty national
the aggregate value of the distribution is 9758 mln dlrs
our plans include initiatives on the debt front as well as greater emphasis on debt equity swaps and the promotion of private investment in third world countries through our affiliate the international finance corporation conable said
the company said it plans to invest 25 mln canadian dlrs to expand on site treatment facilities to process 100000 tons of gold bearing deposits this year and 200000 tons in 1988
the spokesman said the fed intends to purchase bills maturing in up to six months
us current account deficit 3684 billion dlrs
the ef hutton group subsidiary is supplying 279 mln dlrs in so called bridge financing for the transaction
baker denies dollar target exists
a long war of attrition on the debt front lies ahead
talyzin said the ruling politburo concluded at a recent meeting that an improvement in economic performance depended to a large extent on conserving resources better
but he tried to urge business circles to prepare for the forseeable economic future a high won era south korean manufacturers who have insisted the won should not rise more than seven pct this year have said they plan to ask the government to slow down its appreciation against the dollar
final terms will be fixed on april 15
shr profit seven cts vs loss 24 cts net profit 151000 vs loss 523000 12 mths shrs loss 170 dlrs vs loss 44 cts net loss 3670000 vs loss 947000 assets 997 mln vs 1026 mln deposits 911 mln vs 906 mln loans 443 mln vs 517 mln
the stocks have run an incredible way cohen said
the period saw an upward trend in yields although this was countered in the argentina the us and australia by lower acreages
an earlier pact expires next week draining 85 billion marks from the system
van horick who is a council member of the european coffee federation was speaking at the end of the ecf annual meeting
the company which last paid a quarterly common dividend of 22 cts a share in december said it will consider future dividend payments on the basis of improved profitability and cash flow
federal reserve chairman paul volcker said last week that current data do not show the worsening in trade has reversed
but the placement of shares in the print communications technology group linotype gmbh to be bought from allied signal inc aldn would likely come later since several parts of the business had to be consolidated first
the average rate of 592 pct was the highest since 598 pct on july 8 1986
including discontinued operations and the special item net income was 598 mln dlrs or 621 dlrs a share fully diluted
fees comprise one pct selling concession and 1 2 pct for management and underwriting
he said the fed will purchase bills with maturities from may through september 10
chevron nsea find may hold 300 mln bbls analysts
the china daily quoted he as saying china should adopt intensive farming to increase per hectare output and improve crop quality and maintain arable land at 111 mln hectares
usair said the tender is conditioned on receipt of enough shares to give usair at least a 501 pct interest in piedmont on a fully diluted basis and approval by the us department of transportation of a voting trust agreement permitting usair to buy and hold shares pending review of its application to gain control of piedmont
the bank said the us economy has shown no noticeable long term improvement and that both latin american debt and the iranian arms affair could undermine confidence in the dollar
uk money market shortage forecast revised up
the company today reported a profit for the first half ended january 31 of 105013 dlrs compared with a year earlier loss of 745641 dlrs on sales of 3661565 dlrs up from 2810132 dlrs
interest will be payable march 15 and september 15 starting september 1987
uk feb adjusted unemployment fell 44100 total 307 mln or 111 pct official
hollinger inc said it completed the previously reported acquisition of privately held unimedia inc the owner of three french language daily newspapers and four printing plants in ontario and quebec
hovnanian enterprises hov splits stock
but only saudi arabia met its obligations while the others failed because of falling income due to lower oil prices
he told the upper house budget committee in parliament that japan intervened in the market when the dollar went below 150 yen as it considered the dollars fall below that level counter to the spirit of the paris accord
i will not comment because the foreign exchange market reads more or less than is intended in my statements baker said
the french governments privatisation program which began late last year has earned the french state about 52 billion francs to date the finance ministry said
for fiscal 1985 cardis reported operating income of 8680000 and net income of 1150000 dlrs and in the first quarter of fiscal 1986 it reported a 495000 dlr loss from continuing operations
friedman industries inc frd quarterly div
foreign exchange dealers said the yen funds would be used to buy dollars to prevent a further dollar fall
the company raised 22 pct fuel by 25 cts to 1950 dlrs a barrel
over the past year foreign exchange and consumer price controls have been largely abolished labour regulations have been pruned to ease the sacking of redundant workers and a hugely popular programme has been launched to sell state owned banks and industries to private investors
earlier the existing executive director kobena erbynn from ghana was expected to re nominated but he is now likely to withdraw the delegates said
anitec image technology corp antc sets payout
ec farm commissioner frans andriessen told agriculture ministers meeting in luxembourg that the ec is willing to make some temporary arrangements to lighten the impact on us exports of an ec plan to ban the sales of meat from animals fed with growth hormones the spokesman said
but analyst peck said it will take a few weeks to see whether japan has genuinely cut production he said japanese manufactures were likely to view mitis request unfavorably because chip capacity was still high and production cut backs would lead to significant write offs in plant and equipment
frontier texas corp 2nd qtr nov 30 net
alden earned 1357000 dlrs last year
anitec image technology inc said it filed a registration statement with the securities and exchange commission for a proposed offering of 60 mln dlrs in convertible subordinated debentures
rte corp said it completed the purchase of the us aluminum electrolytic capacitor business and related assets of emhart corp for undisclosed terms
trade sources have put the crop at over 26 mln bags compared with a previous crop of 112 mln
shr profit seven cts vs loss five cts net profit 303000 vs loss 205000 revs 16945000 vs 7695000 nine mths shr profit 27 cts vs profit 19 cts net profit 1161000 vs profit 787000 revs 392 mln vs 228 mln note profits include gains of 130000 dlrs or three cts a share in quarter and 490000 dlrs or 11 cts a share vs 52000 dlrs or one cent a share in nine months from tax loss carryforward
however sen
usda proposes name changes in beef grade
ph acquisition co a unit of pratt hotel corp said its 135 mln dlrs per share tender offer for all shares of class b common stock of resorts international inc expired
oper shr profit 14 cts vs loss 31 cts oper net profit 374000 vs loss 707000 revs 191 mln vs 155 mln avg shrs 2610000 vs 2560000 year oper shr profit 20 cts vs loss 69 cts oper net profit 530000 vs loss 1376000 revs 691 mln vs 643 mln avg shrs 2603000 vs 2565000 note excludes gain of 309000 dlrs vs loss 72000 dlrs in qtr and gains of 458000 dlrs vs 23000 dlrs in year from tax loss carryforwards
new york mercantile exchange president rosemary mcfadden declined to comment on texacos futures trading saying that is is proprietary information
the bank will decide march 31 whether to characterize these loans as non performing william ogden chairman of the continental illinois national bank and trust co of chicago continentals largest subsidiary said in response to an inquiry
two new yen issues were features on an otherwise quiet primary market
hata speaking at the first session of the two day meeting said agriculture is no exception to the goal of restructuring the economy but did not elaborate
delegates said it could be friday before all the member countries declare their positions on the possible extension
the company said subject to receipt of all statutory permits finalization of financing arrangements and management and joint venture review construction of a 15000 short ton per day processing facility can start
the issue also featured a call option after four years at 102 falling to 101 1 2 after five and by a half point each year thereafter
but for the first time china signed last week an agreement which it itself initiated to voluntarily restrain exports of at least two categories of steel goods which may lead the us side to withdraw the anti dumping case he added
preussag said rationalization measures already introduced would not begin to take full effect until this year
american dynamics corp and meridian reserve inc said they signed a definitive agreement under which meridian will buy 819 mln shares or 51 pct of american dynamics common stock
delivery method will be by in line or in well transfer inter facility transfer or pumpover or book transfer and cannot be done earlier than the tenth calendar day of the delivery month according to the exchange
total m2 and local m2 rose 325 pct and 239 pct on the year ago month respectively
the suit alleges harcourts special dividend exceeds by more than one billion dlrs harcouts surplus available for dividends under new york law and contstitutes a fraudulent conveyance
at low water tide the vessel has a list of five degrees to port and the list increases as the tide rises
pacific lighting corp plt qtly dividend
analysts said the merger is virtually certain to go ahead
a caesars spokesman said the company would not comment further on its decision
citicorp can afford it he said
the spokesman was commenting after vw had confirmed it would pay an unchanged 10 mark dividend for ordinary shares on 1986 business despite the provision
verhofstadt proposes beginning the selloffs in the last quarter of 1987 with the sale of 30 to 40 pct of state investment company sni
without brisk consumer spending japan can hardly achieve domestically generated economic growth as the government has put a lid on fiscal measures he said
citicorp said that on behalf of its citibank na subsidiary it is issuing 100000 naked currency warrants priced at 67 1 2 marks each to purchase australian dlrs for marks at a rate of 11825 marks per australian dlr
securities and exchange commission chairman john shad said progress was being made in stopping insider trading but the chairman of a house subcommittee with jurisdiction over securities laws said he was concerned about conditions on wall street
national australian bank plans australian dlr bond
the icco council is due to elect a new executive director when it reconvenes friday producer delegates said
we dont want to go down that road reagan was quoted as telling prime minister jacques chirac after the visiting french official expressed concern about the rising tide of protectionist sentiment in the united states
terms call for the price to be established through an appraisal process beginning immediately and not to exceed 175 mln dlrs or be below 125 mln dlrs
they are supported by west germany and the netherlands and to a lesser extent spain
yergin said that the poll which was conducted in january by a former congressman orval hansen showed support for the oil import fee from 22 pct of the congressmen surveyed largely as a means of protecting the domestic petroleum industry
27 put an end to a process which had been the calvary of our nation over the post four years in the refinancing accord he said venezuela managed to achieve the most inmportant thing which is the reopening of financial flows from abroad essential for the financing of development and the financing of trade and investment once all the details of the agreement are finalized he said venezuela will seek new financing for the imported components of new development projects
sanford corp sanf 1st qtr feb 28 net
lifestyle restaurants inc lif 1st qtr jan 24
unicorp american corp uac sets quarterly
taft tfb to continue to review alternatives
but the report hold out little hope for swift improvement in the economic outlook
abbey national the second largest building society in the uk said it has arranged a one billion dlr euro certificate of deposit program
the company said it had expected higher revenues from the records conversion work but it now foresees revenues from southern bell work at about eight mln dlrs the same level as last fiscal year
the company said it paid about 70 mln dlrs in cash for the division which will be renamed samuel moore group
wilhelm christians called last week for an enlargement of current capital market instruments to include instruments already standard abroad
the department noted the price of fcoj will probably be affected by the final decision scheduled for april 22 on whether the us considers brazilian fcoj exports to the us have caused injury
the bank said the 738 mln dlr extension services project will examine strategies in 20 of mexicos 192 rural development districts and finance training for personnel and farmers office construction and the purchasing of equipment
first bostons analyst was not available for comment
and on the other side of the balance of harms was the fact that the oil companies had committed approximately 70 mln dlrs to exploration to be conducted during the summer of 1985 which they would have lost without chance of recovery had exploration been enjoined he said
the terms envision a purchase of the entire company it said
it has received 107 billion dlrs from the world bank in the past 20 years
shr 24 cts vs 20 cts net 11784000 vs 8302000 rev 2691 mln vs 2119 mln six months shr 48 cts vs 40 cts net 23191000 vs 16556000 rev 5175 mln vs 4293 mln
id be delighted to deliver the message kay replied
the dividend was lower than in 1985 because the record profit of the previous year could not be repeated due to changed market conditions it said
but the plaza accord did not set any target for the dollars fall he said
private sector capital operations showed a steeply higher deficit of 1607 billion francs after 569 billion in 1985
the statement said that with the continued support of b and c together with outside capital the new grouping would emerge as a major group in its own right with the ability to take advantages of opportunities as they arose
a fairchild industries official later said soros had told the company he was not dissatisfied with its management
under terms of the merger which took effective today universal said its shareholders will receive three dlrs a share in cash
sorghum producers deficiency payment rate will be 60 cents per bushel based on the difference between the 288 dlrs per bushel target price and the 228 dlrs per bushel basic loan rate
the treasurys operating cash balance totaled 15018 billion dlrs compared with 15392 billion dlrs on april 9
operating net in latest quarter and year includes 750000 dlrs charge for restructuring announced in early january
a lasting stability in the world market requires a wider scope of international cooperation he said
whether this meeting will prompt any us action on the issue of whether moscow will be offered export bonus wheat is uncertain the aide said
they said a forced cut in foreign exchange positions would worsen the local liquidity problem as commercial banks would have to convert about five billion baht worth of foreign currencies in their portfolios into baht
but it can still deal in bally stock as a broker it said
japans move came after several unsuccessful bilateral negotiations on the plan the spokesman said
last week caesars board approved a recapitalization plan as an alternative to the sosnoff offer under which shareholders would receive a special dividend of 25 dlrs per share subject to approval by shareholders at a special meeting to be held in june
fhlbb changes short term discount note rates
the official said chung is expected to outline seouls efforts to increase imports of us goods and to stress the need for south korea to maintain a trade surplus in the next few years in order to cut foreign debts totalling some 445 billion dlrs
bankers noted citibank had held up an agreement with chile objecting to proposals for delayed interest payments
general motors of canada ltd a unit of general motors corp said about 1600 hourly rated employees at the oshawa plant will be laid off for one week due to high inventories
yeutter puts currency burden on taiwan korea
traders rushed into the spot or unlimited contract to offset those moves analysts said
they told reporters that there was no pressure on japan during the group of seven g 7 meeting here yesterday to lower its discount rate
american lawmakers rallied behind president reagan for the us strike against iranian targets in the gulf but the attack fueled a sharp new white house congress debate over limits on his powers to make war
a spokesman for ltv steel co a unit of ltv corp declined comment adding that the company does not make heavy plate and makes few other plate products
it was not a wonderful sales quarter but it only represents 14 pct of the years total results stanley said
paulson declined to give a figure for the deal but said it was strategically important since it increased bolidens presence in saudi arabia
the borrower will be able to issue paper with maturities of seven to 365 days in other avialable currencies such as european currency units
shr profit seven cts vs n a net profit 587000 vs profit 3231000 sales 185 mln vs 187 mln nine mths shr loss 39 ct s vs n a net loss 2368000 vs protit 7165000 sales 554 mln vs 542 mln note current nine month figures include extraordinary loss of 12 mln dlrs or 17 cts per share resulting from costs associated with restructuring
brazils debt would increase in dollar terms but remain constant in real terms
peru for example shipped 96000 tonnes to the us in both 1983 and 1984
citgo last changed it crude oil postings on sept 9
asbestec to buy contractor receives contract
the bill would give a blanket waiver of any federal banking regulations that bar such actions
for all of 1986 rowan lost 421 mln dlrs after a 476 mln dlr tax credit
backlog on september 30 1987 was 93 billion dlrs which company said was a record
but the us ran up a 23 billion dlr deficit in manufactured goods that year compared to a 14 billion dlr surplus in services trade with its neighbour
opec sticking firm on official prices subroto
one way to accomplish that specific objective is to go out and acquire other airlines said andrew kim of eberstadt fleming
chesapeake corp said it has retained salomon inc sb to help it sell plainwell paper co inc a maker of premium coated and uncoated printing papers and technical specialty papers with a capacity of 85000 short tons a year
ccc accepts export bonus on semolina to egypt
s and p cut to aa minus from aa the senior debt and to a plus from aa minus the subordinated debt of the parent and units ut financial services corp ut credit corp ut finance nv and carrier corp
shr 35 cts vs 29 cts qtly div 12 cts vs 12 cts prior qtr net 5036000 vs 4165000 revs 1476 mln vs 1324 mln nine mths shr 112 dlrs vs one dlr net 161 mln vs 144 mln revs 4334 mln vs 385 mln note per share data reflect march 1986 five pct stock distribution
dealers said overseas investors had not been buying today and predicted consolidation before next weeks uk budget
argentine meat exports during jan feb 1987 totalled 39714 tonnes against 36594 tonnes shipped in the same 1986 period national meat board said
the committee will consider all the pertinent facts and alternatives we intend to make a careful and informed decision but will proceed expeditiously to a conclusion knowlton said
it said the us current account deficit looked likely to fall even more slowly than forecast to 125 billion dlrs in 1987 and 115 billion in 1988 from 130 billion in 1986
but the forecast for 1986 87 is well below a target of 148 mln tonnes fixed for the year it said adding bad weather hit groundnut and other oilseed crops
we have been recommending the stock since it was in the 50s but we reiterated today because of expectations of strong earnings momentum its benefits from the lower dollar and anticipation of nice gains in margins merrill lynch analyst charles ryan said
george wimpey plc wmpyl said the outlook for 1987 looked encouraging as the company realised the continuing benefits of restructuring
laidlaw transportation ltd ldmfo third qtr
qtly div 8 1 2 cts vs 8 1 2 cts prior pay may one record april 20
indonesia limits oil price impact finance minister
soviet union seen watching china gatt application
it matures on april 8 1992
while he detected no rush into stocks from bonds either among the many mutual funds under the t
southern california edison co sce qtly div
president reagan said he would veto a house passed trade bill requiring mandatory retaliation for unfair trade if it reached its desk in its present form
dixons said the stock was purchased in a single block transaction at 95 dlrs per share
enterprise becomes the third operating telephone subsidiary of rochester telephone in pennsylvania and its sixth largest overall the company said
ici today announced the formation of a new us drug company ici pharma which with its stuart pharmaceuticals unit it said will double its current pharmaceutical sales to 11 billion dlrs by 1990
theodor stadelmann dealer with bank julius baer and co ltd in zurich said he expects the dollar to hold steady against the mark and swiss franc but to weaken further against the yen possibly to 140 yen
illinois power co ipc two months february net
the usdas weekly export inspection report is expected to show steady corn and wheat exports and lower soybean exports according to cbt floor traders forecasts
were not very enthusiastic about nigerias debt rescheduling said a senior official at a leading japanese bank
murray ohio mur sees higher first quarter net
when consumers want to get involved talks are much more difficult the main consumer country the united states and main producer brazil failed to reach agreement on quota distribution when the international coffee organisation ico met in february
we have absolutely no trouble producing an eight billion bushel crop on only 80 mln acres or so an analyst said
north hills electronics inc said its north hills israel ltd unit received a commitment for 1500000 dlrs in financing from the overseas private placement corp the company said the money will be used to construct and equip a 14000 square foot manufacturing plant in israel
net includes gain from sale of mortgage backed securities and loans of 124 mln vs 934 mln and 1397 mln vs 2640 mln in nine mths 1987 vs 1986
chemed corp che 3rd qtr net
volcker said he endorsed comments by treasury secretary james baker about the inappropriateness of using public resources for purchasing private commercial bank debt which we both see as an inherent aspect of the proposed international debt facility he also said a proposal for establishing formal procedures for international negotiations on currency exchange rates is unrealistic and could well have damaging effects for example the bills directive to intitiate negotiations in order to achieve a competitive exchange rate for the dollar a matter upon which there can be considerable difference among analysts runs the risk of building up potentially destabilizing market expectations volcker said
kebo is in turn 60 pct owned by investment ab beijar of sweden
he told reporters yesterday the deposits located at four sites near the town of san ignasio contained the equivalent of 100 tonnes of gold
but the diplomats said a protectionist lobby in the us and elsewhere was using the proposal as an excuse to promote anti ec action and the foreign ministers debate should demonstrate the strength of feeling against the proposal within the ec and deprive its oponents of this argument
the previous weeks m 1 level was revised to 7386 billion dlrs from 7385 billion while the four week moving average of m 1 rose to 7371 billion dlrs from 7368 billion
the bills many provisions also set as a priority for the us the negotiation of stable exchange rates and urge government intervention as necessary to offset fluctuations
at the close of the business today the total amount of debt certificates issued by the exchange fund in return for money transferred from the general revenue account and the various funds in other words the total borrowing by the exchange fund from these sources will be 269 billion dlrs jacobs said
but this again could benefit prices a buyer said
gorman rupp co grc sets quarterly
following completion oil term holdings ltd a new company controlled by nova will hold a 43 pct stake in husky
acceleration corp acle 4th qtr
we grew basically 100 pct last year im not sure were going to be able to grow 100 pct again this year but we certainly will grow at least 50 pct over last year takefman said
this will include 30 mln shares of common stock and 15 mln shares of class b common stock it added
icco executive director kobena erbynn was preparing the plan in consultation with other delegates for presentation to the full working group they added
one foreign banker said the development bank and the overseas union bank ltd have become major players in the equity market in singapore
it also said it received 100000 dlrs from the sale of a convertible note to ventana growth fund as part of an overall 1100000 equity financing plan with ventana
tokyo bundesbanks schlesinger sees no reason to lower interest rates
the euro commercial paper program allows for the issuance of notes with maturities of up to 183 days
chase manhattan corp with consolidated assets of 90 billion dlrs is the second largest banking organization in new york and operates in the united states and abroad
brooks also said the company would continue to attempt an exchange of technology and manufacturing agreement with fujitsu ltd if successful in its buyout bid
the company said a similar split was paid december eight leaving it with 2344200 shares outstanding
miguel guerrero director of the dominican republics national sugar institute said it would be difficult to boost production even if prices recovered sharply
net profit befire minorities 810 mln vs 744 mln
the february increase was less than janauarys 04 pct increase but slightly above the average for the later months of 1986
sprinkel also called the reference to stabilizing exchange rates at about current levels made at the paris meeting on february 22 a vague statement casting doubt on operators assumptions that a secret target level had been set
if negotiations go smoothly ramnath said construction could begin by next january
lme details march 1987 turnover
national heritage inc said it acquired the assets of chartham management corp of salem ore
we maintain whats going to drive canadas export performance is income growth in the us said midlands donegan
our company is shopping around because we feel its substantially less risky than pure exploration
stop and shop cos shp in two for one split
shr loss 39 cts vs loss 483 dlrs net 163 mln vs loss 2230 mln revs 474 mln vs 307 mln nine mths shr loss 337 dlrs vs loss 730 dlrs net loss 1516 mln vs loss 3403 mln revs 1189 mln vs 1618 ml note 1987 qtr includes loss 1500000 dlrs for mobilization costs associated with two offshore drilling rigs
oper shr profit 20 cts vs loss 22 cts oper net profit 2111000 vs loss 1605000 revs 896 mln vs 272 mln nine mths oper shr profit 47 cts vs loss 15 cts oper net profit 4116000 vs loss 1029000 revs 2521 mln vs 879 mln note 1986 net excludes losses from discontinued operations of 791000 dlrs in quarter and 1168000 dlrs in nine mths
privately held clearwater was sold for three mln stg the company said
as long as all the opec members adhere to the program as devised in december saudi arabia will continue to adhere to the agreement he said
at present such allowances are available only for livestock
new crop corn prices at the chicago board of trade firmed earlier this week on ideas of a large sign up in the program despite the fact that acres enrolled are generally poor yielding and not likely to make a substantial difference to final production figures
an agency spokesman said that if usair which has proposed to buy all of piedmont shares controls more than 51 pct of the firms outstanding stock it will have one week to sell those excess shares
one trade source said india has targetted countries that depend on an indian domestic market recently opened to foreign imports
japanese seen lightening us bond holdings
residents of central oklahoma returned to their homes over the weekend after a week of heavy rains and severe flooding that left two dead and caused more than 20 mln dlrs in damage officials said
rexnord said the sale is part of a major program to divest several of its businesses representing about 200 mln dlrs in net assets
1986 nine months net excludes gains from discontinued operations of 38 mln dlrs or 14 cts a gain from sale of discontinued operations of 285 mln dlrs or 106 dlrs and a charge from early repayment of debt of 58 mln dlrs or 22 cts
brazil cancels oil purchase from saudi arabia
metropolitan currently owns about 257 pct of metex common and holds options to purchase about an additional 16 pct of metex common stock
its going to take a lot more than the central banks to hold the dollar at these levels said snow who predicts another 10 to 15 pct depreciation
under the agreement dated april 28 vr business agreed to sell 5008120 shares of common stock and 11846 shares of 10 pct cumulative stock
plans call for increased imports but an official said boosting imports will be difficult as it depends on sales demand fujitsu ltd itsut will cut production in accord with miti guidelines and boost imports from currently low levels
it is a major arms supplier to iraq but has also sought broader contacts with iran in the last year
in an article headlined gulf oil sources say middle east production up 14 mln bpd it warned opecs official prices could face fresh pressure from international oil companies seeking cheaper supplies
spartech sptn reverse stock split approved
members of the security council met behind closed doors on monday to discuss developments in the gulf war but no statement was issued afterwards
he said the government had cut agricultural investment to three to four pct from 11 pct
iraq reports attacks on supertanker oil targets
this year began well with the performance in january and february at least equal to the same period last year the official said
qtly div 15 cts vs 15 cts pay may 4 record april 10 note previous dividend restated to reflect january 26 two for one stock split
venezuela approves plans to issue new bonds
the government is anxious that debt that is capitalized should represent new investment in the country on a dollar invested per dollar capitalized basis rather than a simple transfer of ownership of the debt he said
there will be no changes in the estimating program for citrus in texas or florida
total deposits rose to 1755 billion nz dlrs in february compared with 1718 billion in january and 1361 billion in february 1986
new jersey resources corp said it has filed for an offering of 1300000 common shares through underwriters led by merrill lynch and co inc mer and ef hutton group inc efh it said the offering is expected to be completed in late march or early april and proceeds will be used to reduce short term debt
the strikers returned to work after an agreement was reached last night between port authorities and the port workers association they said without giving details
advanced said it had suspended merger talks with other parties as a result of the exclusivity agreement
finance minister kiichi miyazawa told a parliamentary session the current dollar yen exchange rate is not necessarily satisfactory for the japanese economy
augat inc aug sets quarterly dividend
esso malaysia reports higher profit in 1986
like other city banks sumitomo is also pushing to expand lending to individuals and small and medium businesses to replace disappearing demand from big business he added
president suharto said he wanted to see greater transfer of technology to indonesian companies and more help from the oil industry for the regions in which companies operated
mayfair super markets said its sales for the second qtr ended feb 28 were 1220 mln dlrs an increase of more than 15 pct compared to sales of 1059 mln dlrs in the comparable quarter last year
herrington speaking to houston oil executives at a breakfast meeting said administration debate over his plan for a 275 pct annual depletion allowance was heavy and strong largely because of some fears that the us oil industry could eventually become as dependent on federal subsidies as the agriculture industry
dealers quoted one week at eight seven against an early 9 1 2 7 1 2
us officials said it has been willing to study individual cases for economically sound market oriented commodity accords balancing producer and consumer interests
the bonuses were made to cam usa inc the department said
the subsidy is seen being set above 4500 ecus per 100 kilos although traders are reluctant to predict a precise level after prices fell yesterday
in 1986 mitek reported sales of five mln dlrs and a net profit of 14000 dlrs
ultimately the brazilians are going to have to pay up on all the interest they owe cohn said
mci mcic president sees profit improvement
period end jan 31 shr loss 17 cts vs loss 26 cts net loss 765808 vs loss 1216501 revs 158 mln vs 187 mln six mths shr nil vs profit 54 cts net loss 125 mln vs profit 2538030 revs 325 mln vs 426 mln avg shrs 4310068 vs 4712315 note prior yr results restated to reflect change in value of aircraft resulting in increase of 232000 or five cts shr for six mths
mim intends to take preussag ags total 20 pct share in the copper producer in exchange for some three pct of mims share capital
exovir said the transaction increases the groups stake from 129 pct to 185 pct
the national strike had been tailing off since mid march as seamen struck individual accords with companies
we are concerned about the backlog of other financial packages and would like to see these move ahead soon he said there is some evidence that this is already happening
smith called for boosting gatts links with financial institutions such as the international monetary fund and world bank
standard and poors is expected to rate the certificates aa morgan said
dole told the national corn growers association that he thought the proposal supported by the reagan administration should be seriously considered because a refusal to do so could play into the hands of those who want mandatory controls placed on production
us corn sorghum payments 50 50 cash certs
todays central bank action combined with sales of dollars by some banks helped ease a recent credit squeeze engineered by the monetary authority to stem a rush for the us currency arising from attractive us interest rates and gulf tension dealers said
cato which had been publicly held several years ago before going private operates a chain of womens specialty stores in small to medium sized towns
taft broadcasting has never commented on reports that its major stockholders met recently to discuss a break up of the company
harvest of late type valencia oranges is increasing rapidly with the near completion of the early and midseason varieties
we are not here to dictate to them he stated
shipping weight terms will be accepted at a 15 stg discount to this rate
still the split within the banks ranks came as a shock
the company said the asset sales have eliminated bc resources long term financing commitment in the north sea and exposure to the fluctuating pulp market
it said interest payable march 31 will be paid in the usual manner to holders of record on march 15
in the fourth quarter alone the unadjusted surplus rose to 141 billion francs from 66 billion the previous quarter but the adjusted surplus fell to 74 billion from 91 billion
hutton sources have said the firm was in fact facing risk n its investment since it did not know when it could reclaim its 279 mln dlr loan
the dollar straight sector of the eurobond market ended lower after another nervous days trading with many operators keeping to the sidelines ahead of tomorrows us trade figures for february dealers said
he also called the case strange but he stopped short of endorsing japanese newspaper accusations that oki had been trapped into making the sales
he also told he did not expect any increase in colombias financing needs as a result of current falling coffee prices after a surge last year doubled export income from this source to around three billion dlrs
brazilian officials are trying to increase brazils export share of non flat products to the us market
combining long and short term capital outflows west germany recorded a net outflow of 753 billion marks in february against a net inflow of 1191 billion in january
on trade issues rostenkowski said he did not expect the major trade bill this year would single out any us industry for special protection
mauritius exported 47144 tonnes of sugar tel quel in february down from 57911 tonnes tel quel shipped in january and 89351 in february 1986 the mauritius chamber of agricultures sugar news bulletin said
the price was not disclosed
national banc of commerce co nbcc sets payout
the bank now controlled by brunei is seeking repayment of about 900 mln singapore dlrs in loans guaranteed by khoo
keating said the figures showed encouraging trends for a reduction in the current account deficit notably the decline in domestic demand and the strong increase in exports
the instrument enables banks to diversify their funding base in a significant way in yesterdays series the issuing banks coupon rates were set at the commercial bank composite rate plus a spread which is expected to equal an all in cost of libor minus 10 basis points shearson said
with the continued fall of the dollar against the yen 0speculation had arisen in currency markets here that japan might take new measures to support the us currency such as curbing capital outflows
western diplomatic and official sources in khartoum say 32 pct of sudans total foreign debt is to the soviet union the eastern bloc and arab countries
in its original announcement yesterday usda had said the offer included three mln dlrs for the export of lumber excluding plywood
allied lyons sees no change in hiram walker stake
levon said re checked assays from zone two averaged 0693 ounces of gold a ton
this rash of countervailing actions where we acted on corn and you acted on soft wood and we both said they were quasijudicial the dispute resolution mechanisims in place now are not working adequately in either of our interests he said
traders said the report notes that earnings from australian gold holdings could be worth about 35 cts to 55 cts a share this year and 140 dlrs to two dlrs a share in 1988
pegasus estimated that 1987 production at the zortman landusky mine will be about 80000 ounces of gold and 225000 ounces of silver
the january surplus originally was reported at 533 mln dlrs
yesterday icahns transworld airlines inc twa made a 14 billion dlr offer for usair group
hall fbh offers new service
municipal assistance corp of new york said its planned offering later this week of 670 mln dlrs of series 62 bonds would probably be the last time it taps the market until the third quarter
if we can get the price up to the value of the company we will not be vulnerable to takeover pressure said charles blackburn diamond shamrocks president and soon to be chief executive officer of the new exploration and producing company whose name has not yet been decided
usg ara ghent option seaforth 40000 45000 long tons hss 10 days all purposes 9 15 4 try later
currently it is halved between importers and exporters and the soviet union has a 30 pct share of the importer half
banks must make their bids by 1400 gmt today
hollinger hlgto completes unimedia takeover
shr 62 cts vs 52 cts net 1420 mln vs 1230 mln sales 100 billion vs 8650 mln
us sells 3 mo bills at 572 pct stop 574 pct 6 mo 580 pct stop 580 pct
security pacific corp spc 3rd qtr net
stoltenberg noted that brazil had agreed in january to work together with the banks but said this pledge had not yet been fulfilled
this years rate will thus be 11 pct
soybean cake meal in thousand short tons 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 212 212 387 387 production 26558 26203 24951 24951 total 26770 26415 25338 25338 note 1985 86 production estimates based on october year crush of 1060 mln bushels
shr 25 cts vs 23 cts net 488000 vs 443000 assets 2893 mln vs 2139 mln deposits 254 mln vs 1885 mln loans 1564 mln vs 1234 mln note per share amounts adjusted for stock dividends
allegis has said that it plans to sell westin buyt has not announced that a deal has been set
i think theres a chance well see that legislation 0 92 passed but not for 1987 crops
the central banks move has been combined with a steady cut in the dinar exchange rate
de laurentiis said it has 96 mln shares outstanding
the company said it is applying to list the preferred stock on the new york stock exchange
under terms of the transaction which would result in a 13 billion dlr thrift institution stockholders of jefferson will get 3050 dlrs per share half in cash and half in shares of charter
silver state mining corp ssmc 4th qtr net
shr loss two cts vs loss five cts net loss 17334 vs loss 51507 sales 245560 vs 179839 avg shrs 1136785 vs 1046785 six mths shr profit four cts vs loss 17 cts net profit 47749 vs loss 174373 sales 721937 vs 284809 avg shrs 1136785 vs 1046785
the fiscal year ends december 31
cocoa terminal deposits to be cut 25 pct icch
baker international to sell electric submersible oilwell pump unit
behind that is a huge implication for the rest of the energy issues out there in the stock market particularly those that are acquisition targets lazier said
western donors still backing zambia says minister
the failure of international coffee organization talks on the reintroduction of quotas has paralysed business on the hamburg green coffee market in the past week trade sources said
i wouldnt be surprised to see a fall off in march especially since sales probably wont be boosted by auto sales as they were in february despite the weak underlying trend economists were impressed by a robust 15 pct gain in total sales excluding autos in february
the commission said the industry would probably be unable to hold prices at current levels and that any increase would result in loss of sales and jobs
investors will pay for the bond on april 9 and the bond pays annual interest on the same day
further yen rise would hurt japan economy sumita
the oecd calculated farm subsidies for other industrial countries such as canada australia and new zealand but in most cases the results were much lower than for the us ec and japan the sources said
aristech plans to spend approximately 200 mln dlrs over in capital investments over the next three years marshall added
a miti spokesman said his ministry had asked chipmakers to issue certificates to specified trading houses stating they are authorised exporters
the soviet economy has grown at an increased rate under mikhail gorbachevs leadership but his goals may be too ambitious according to a report from us intelligence agencies
the institute said this could be done by ensuring that fiscal policy fosters a willingness to work and invest
shr 94 cts vs 77 cts net 21 mln vs 17 mln revs 78 mln vs 88 mln noteper share data reflects elimination of 500000 shares owned by 50 pct owned subsidiary and reflect one for three reverse stock split effective march 5 1986
the borg warner spokesperson said the company has not been able to reach an agreement with minstar and borg warner has not granted minstar access to any records
exxon xon extends mid grade unleaded marketing
as of dec
an rtz spokesman said the ruling was not worrying as the subsidiary had assumed that the provisions were not deductible from corporation tax payable
brazil makes second amazon oil discovery
james mcclure an idaho republican said baldrige told them the administration had not made a final determination that japanese companies had dumped semiconductor microchips below the cost of production in the united states or other countries
profits before provisions were sharply higher in part reflecting an 18 pct staff cut last year
this was definitely a budget for lower sterling interest rates said a sterling analyst at a uk merchant bank
jacques thas in charge of rescue for the herald of free enterprise said his men had searched all of the ship except some inaccessible cabins and the control room
the project aims to facilitate mexican oil exports to japan and the far east and is expected to be completed in three years
in a major challenge to the us plan brazil last month declared a moratorium on interest payments and followed it up with a world tour by officials seeking a political way out of its 109 billion dlr debt burden
the spokeswoman said the talks foundered on the question of how much the subsidy should be cut
dealers said the bundesbank would want to inject enough liquidity in this weeks pact to keep short term rates down
bank of japan governor satoshi sumita said a further yen rise would have adverse effects on the japanese economy
net borrowings in the prior week averaged 451 mln dlrs
but the bundesbank and other european central banks were not detected in the open market during the european morning
algoma central railway 4th qtr net
wall street analysts said the merger accord between fleet and albany ny based norstar demonstrates the rapid pace of interstate banking mergers since state legislatures begain permitting regional mergers on a reciprocal basis
under new provisions weightings would be attached to securities similar to those used for lending
over the past two weeks mobil has announced restructuring of its domestic exploration and development organization and this week a restructuring of its oil services units which support the new affiliate
world soybean production in 1987 totalled a record 989 mln tonnes up from 906 mln the previous year balletto said while production of other oilseeds was lower
nogales said he did not expect bolivias debt repurchase to become a model for other debtors in dire straits
the agreement was viewed by many in the market as an attempt to put a floor under the dollar after its sizeable two year decline against major world currencies
treasury balances at fed fell on march 10
in december the bleu had an 119 billion franc trade surplus after a 109 billion franc surplus in november and a 23 billion franc surplus in december 1985
in finland and sweden up to 50 vessels were reported to be stuck in the ice and even the largest of the assisting icebreakers were having difficulties in breaking through to the stranded ships coastguard officials said
the company will operate as boart msa pty ltd it said
it said it plans to hire the majority of lazeres 100 employees
although significant oil reserves were confirmed development of this discovery will not be economical without substantially higher prices the company said
management fee is 10 basis points
japan denied breaking a pact with the us on semiconductor trade but said prices set out in the pact were too high and acknowledged difficulties in implementing the accord
gm gm canada sets one week layoff
standard and poors said it is reviewing mepc plcs two a rated eurobond issues totalling 125 mln stg for a possible downgrade
west germany and bolivia signed two cooperation treaties today expected to nearly double the amount of overall aid the south american country receives from its european trade partner german officials said
carter hawley hale stores inc 4th qtr shr loss 158 dlrs vs profit 58 cts
net profit rose to 185 billion lire from 448 mln lire in 1985
metropolitan police told reporters the four arrested put under six month pre trial detention owed nearly 507 mln taka the equivalent of about 17 mln dlrs to bangladesh shilpa industrial bank
eurocity will also operate flights to duesseldorf and rotterdam
britain has often lined up against west germany on the farm reform issue in the past but is keen to avoid measures that could spark a damaging trade war with the us foreign ministers were unlikely to take a decision on either the oils and fats tax or the mca proposals today diplomats said
it was a pretty healthy report he noted that building materials rose 18 pct in february after falling 17 pct in january
its annual revenues are about 18 mln dlrs
the department said these figures show a continuing improvement in the current account deficit caused mainly by an improvement in the balance on merchandise trade which has now being in surplus since november 1985
discovery west corp said it plans to sell convertible subordinated notes in a principal amount of between four mln and seven mln dlrs by way of a private placement through first marathon securities ltd
the weighted average yield for 50 mln nz dlrs of 77 day treasury bills sold in this weeks regular weekly tender was 2497 pct the reserve bank said
the impact of that and several smaller deals will be felt fully in 1987 taylor said
standard and poors reduced chase manhattans senior debt to aa minus from aa subordinated debt to a plus from aa minus and preferred stock to a from a plus
king world kwp has financing for offer
because of unprecedented and ever growing smuggling hasco regrets it cannot continue to accept delivery of sugar cane after april 10 the mill warned planters earlier this week
this weeks rains have alleviated drought conditions in guangdong province the agency said
he stressed that the public sector debt bonds will not be exchanged for shares of stock in state owned companies
a colombian group announced the suspension of its bombings of oil pipelines pending the governments levy of a social tax on foreign petroleum companies and an 800 mln dlrs fine on the occidental petroleum corp oxy there was no indication the government would meet the conditions demanded by the leftist national liberation army eln according to the state oil firm ecopetrol the eln carried out 72 attacks on petroleum pipelines between 1984 and 1986
bally manufacturing corp said it is considering the sale of its six flag theme amusement park unit and would use the proceeds to pay off debt
the government estimates it will take about four more months to repair the lago agrio to balao pipeline and return output to normal levels the spokesman said
he said the world bank would meanwhile look at investment requirements for potential export earning projects such as gold mining timber oil and kaolin
fuller has been named president
salomon inc sb said to cut us banks ratings
the merchandise trade surplus was pared to 1013 billion dlrs in 1986 from 1748 billion dlrs in 1985
he told reporters the phlx will open a new session between 1900 and 2300 hours us est from the beginning of the third quarter this year
salomon brothers inc said it raised its opinion on caterpillar incs stock to an aggressive buy from a hold because of a brighter earnings outlook for 1988
i would think that the debtholders would want to entertain any and all offers for dome gobert said
babcock international plc babkl said in a statement accompanying final results for 1986 showing pretax profits up to 3709 mln stg from 3455 mln in 1985 that overall further progress is expected in 1987
1987 qtr and nine mths exclude gain of 22 mln dlrs realized primarily from early settlement of debt in connection with the recapitalization and a three mln dlr loss on investment securities
he said that since most growers did not irrigate their crop they could do nothing but wait for rain the main factor which determines kenyan coffee production
for its part the united states is apparently content to let the dollar fall gradually further and is paying little more than lip service to the february paris agreement of the group of five plus canada to foster stability dealers say
adsteams equity accounted net earnings rose to 7505 mln dlrs in the half ended december 31 from 5568 mln a year earlier and interim dividend to 18 cents from 16
in the year to end october rank reported a rise in pretax profits to 1641 mln stg from 1360 mln previously
the federal reserve is expected to enter the us government securities market to add temporary reserves economists said
precambrian earlier reported a 1986 loss of 534 mln dlrs compared to profit of 45 mln dlrs in the prior year
us refined production declined to 117600 tons in january from 137400 tons in december
moodys lowered union bancorps senior debt and preferred stock to a 1 from aa 3 subordinated debt to a 2 from a 1 and long term deposits to a 1 from aa 3
banmiller will continue as aircals president and chief operating officer
assuming an average exchange rate of 171 swiss francs to the dollar this year against 169 in the second half of 1986 the report forecast a 275 pct rise in exports and a 35 pct rise in imports this year after rises of 325 pct and 65 pct respectively in 1986
these factors helped italy cut inflation to an average 63 pct in 1986 down from 93 pct in 1985
in an apparent break with the previous policy of secrecy lawson told a national economic development council meeting he was comfortable with sterling exchange rates around current levels specifying rates of around 190 marks and 160 dlrs
innopac inc six mths february 28 net
usda will release its official signup report around april 15 an official said
margoshes said he recommends imperial oil imoa up 1 2 to 49 1 8 standard oil co srd 7 8 to 62 3 4 exxon xon one to 83 1 8 and chevron chv 1 1 8 to 54 7 8
boc group inc s airco distributor gases finalized the sale of its virginia based gas appaturs business to controls corp of america a newly formed investment group organized by former airco employees
the panamanian liquified gas carrier nyhammer 48772 dwt was attacked by an iranian gunboat on may 24 lloyds shipping intelligence said
it would be in line with market demand unless this was considered excessive
at least 60000 tonnes of corn worth 240 mln pesos have been smuggled into the philippines over the past few months the manila bulletin newspaper said quoting an official in the national food authority nfa the official who was not named said a large corn shortage and corruption among customs and coast guard personnel have jeopardised the governments ban on corn imports which was aimed at saving foreign currency
the personel and operations remain the same the exchange added
index of economic spotlights see page ecra but no official announcement has yet been made raising eyebrows in west germanys business community
ibc president jorio dauster is meeting government ministers producers exporters and market analysts to assess brazils position in the light of the failure of talks in london earlier this month to set new international coffee organization ico export quotas
still south korean trade minister rha woong bae said last week that korea would maintain a trade surplus for three to five years as a way to cut its 445 billion dlr foreign debt
tolland bank fsb tobko 2nd qtr net
those changes are intended to make the reference price more responsive to market trends
in a speech to the annual meeting schutz said third party orders placed with porsches engineering research centre in weissach were rising and should top 100 mln marks this year for the first time
avery said its board authorizerd a two for one stock split an increased in the quarterly dividend and plans to offer four mln shares of common stock
the year ago first quarter earnings however have been restated from 101000 dlrs or four cts per share
it said the sale and leaseback was attractive to the investors because they could take quicker advantage of tax benefits than the utility could
it will be open for signature from may 1 to december 31 this year
president reagan and most congressmen have previously ruled out a tax on foreign oil as a way to curb imports and to help the depressed domestic oil industry
rjr nabisco inc filed with the securities and exchange commission for a shelf offering of up to 500 mln dlrs of debt securities on terms to be set at the time of sale
the sale was opposed by the us commerce department and defence department partly on national security grounds
dow chemical co has launched a 200 mln swiss franc 12 year bond with a 4 3 4 pct coupon priced at 100 1 4 pct lead manager union bank of switzerland said
waltham savings bank wlbk initial dividend
the group said cross bought 17000 shares in the open market between feb
american motors said it received a letter from chrysler corp advising us of their proposal to enter into a merger transaction with american motors corp in a brief statement the company said we are studying the proposal
both companies said they support the agreement and believe it to be fair to both sides
bank of france to hold money market tender today
however financial market sources said they had heard the ministry has asked life insurance and securities firms to refrain from selling dollars but they were unable to confirm this directly
bass has for some time regarded overseas holidays as an area for expansion and in pursuit of this objective acquired a 256 pct holding in horizon in 1985 when it set up the jointly owned hotel company
the banks last announced an adjustment on february 28 when they raised the prime rate by one point to six pct
the king also urged the world community to help the palestinians return to their homeland and called for a peaceful end to the iran iraq war
the bank issued eight billion taiwan dlrs worth of similar bonds last month
rjr nabisco inc said it will redeem all 12 billion dlrs of its 1120 pct notes due august 1 1997 on april six using the proceeds from the sale of its heublein inc subsidiary to grand metropolitan plc
rah said most of the purchases represented shifts from japanese firms to us firms as part of south koreas effort to reduce its seven billion dlr trade surplus with the united states
the agreement to be implemented in two stages in july this year and july 1988 means the minimum aid component in mixed credits will be raised to 35 pct from 25 pct and to 50 pct for credits covering exports to the worlds least developed nations
austin said it and the japanese firm will develop concepts investigate systems and compete for the contracts for the international airport to be built off the coast near osaka japan
payment of the stock dividend increases cistrons outstanding common stock to 21390190 shares from 16185354 shares
shipments in tonnes with comparative figures for the 1985 period in brackets included beef 120184 137686 horse meat 25651 33892 and beef offal 50100 47745 argentinas meat exports totalled 20481 tonnes in december 1986 against 15801 tonnes in the same 1985 month
usda revises 1986 summer potatoes
recent international coffee organization ico negotiations in london exemplified the degree to which consumers insist that agreements reflect market reality commodity analysts said
the smelter continues to operate with available concentrate from stockpiled supplies noranda said
akers was most encouraging said painewebbers smith
fed drafts currency rate swap risk gauge
there is clearly a danger that adequate financing arrangements are not being negotiated and put in place in a timely way volcker told the senate banking committee
japanese finance minister kiichi miyazawa said today the time had come for the six nations who agreed in paris last month to stabilise currencies japan britain canada france the us and west germany to take action in line with the pact
tie communications inc tie 4th qtr loss
the executive board has limited its current discussions to administrative matters and is set to adourn thursday
philippine coconut authority pca chairman jose romero said he would visit brussels later this month to lobby against a proposed 100 pct european community ec levy on vegetable oil imports
personal consumption expenditures rose 01 pct or 15 billion dlrs to 28933 billion dlrs in may after rising 06 pct or 186 billion dlrs in april the department said
meantime the executive board will meet may 12 to discuss possible action on the consultancy report on the ico presented today to the board consumer delegates said
sheikh ali al khalifa al sabah was quoted by the local daily al qabas as saying that none of the opec members has asked for such a meeting he also denied that kuwait was pumping above its opec quota of 948000 barrels of crude daily bpd crude oil prices fell sharply last week as international oil traders and analysts estimated the 13 nation opec was pumping up to one million bpd over its self imposed limits
the bond equivalent yield on three month bills was 617 pct
the zambian currency further depreciated yesterday at the second auction since the introduction of a two tier foreign exchange system last month
qtly distribution 10 cts per unit vs 10 cts prior pay april 20 record march 31
affandi replied that rice is the main staple and provides an income for 17 pct of the workforce
the company named hambrecht and quist inc as lead underwriter of the offering
us industry sources in washington said the white house economic policy council was recommending trade sanctions against japan for violating the two countries agreement on semiconductor trade
stocks of finished goods and raw materials fell sharply in the march quarter and further depletion was forecast for the june quarter the survey said
on tuesday the ministry allowed long term bankers to cut their prime to a record low of 55 pct effective february 28
shr profit five cts vs loss 16 cts net profit 689000 vs loss 1910000 revs 123 mln vs 9432000 note 1987 net includes 276000 dlr tax credit
iowa beef closed the proessing plant indefinitely in mid december because it said it had no alternative to threats by meatpackers to disrupt operations
shr primary 33 cts vs 33 cts shr diluted 27 cts vs 32 cts net 3669000 vs 3556000 revs 582 mln vs 566 mln avg shrs primary 112 mln vs 111 mln avg shrs diluted 151 mln vs 111 mln six mths shr primary 43 cts vs 46 cts shr diluted 37 cts vs 45 cts net 4711000 vs 4879000 revs 1019 mln vs 957 mln avg shrs primary 112 mln vs 109 mln avg shrs diluted 151 mln vs 109 mln
proceeds will be used to repay short term debt issued in connection with quaker oats recent acquisitions and for other corporate purposes it said
wheat estimates ranged from 110 mln to 140 mln bushels compared with 120 mln reported last week and 183 mln a year ago
smolinski of data resources agreed that the surplus would persist until 1990
american said assets included nine leases totalling 2600 acres various working interests in 15 oil and gas wells on that property all equipment and machinery necessary for operation and a 50 pct interest in a nine mile gas pipeline
japanese demand for heavy crude oil has increased substantially since the all japan seamans union ceased sailing into the northern mideast gulf last month causing problems with liftings of heavy kuwait and khafji crudes
the current soybean program gave us the worst of both worlds asas haggard told the hearing
galveston also said it granted hemlo gold options to acquire up to two mln galveston shares
in 1986 ecuadors total service on the foreign debt was about 996 mln dlrs to all creditors
the dutch ministry of finance plans a new fixed eight year state loan at an unchanged 6 1 4 pct
a and w brands inc said it filed a registration statement with the securities and exchange commission for a proposed public offering of 3400000 shares of common
drg plc drgll is issuing a 40 mln stg convertible eurobond due september 30 2002 with an indicated coupon of six to 6 1 4 pct and priced at par lead manager baring brothers and co ltd said
brooklyn union will continue receiving a small amount of supplies from minor fields under a grandfather clause a brooklyn union official said
earlier new zealand sources had said french foreign trade minister michel noir had pulled out of the informal gatt talks for domestic political reasons
price pclb to buy 80 pct of tss seedman
analysts said they were surprised at the governments announcement of a forecast budget surplus for fiscal 1988 but said it was consistent with previous policy statements and positive for the economy
zambia does not plan retail maize price hike
they are non callable for life
this brings the banks total assistance so far today to 243 mln stg
eleven and three quarters pct is way above money market rates this money market signal was apparently not accompanied by any sterling sales on the foreign exchanges talk of which had inhibited strong rises yesterday and tuesday so buyers came strongly into the pound
novamin a mineral exploration company said directors would meet next tuesday to deal with the proposal which it said was subject to approval by breakwater directors
honeybee inc hbe 4th qtr net
fruit of the loom inc said it agreed to sell its general battery corp subsidiary to exide corp for about 145 mln dlrs in cash
indonesias non oil exports decline in 1986
the tender calls for one cargo of prompt sugar and two to three with march april shipment sugar or the same as the eight cargoes bought at a tender two days ago
the government announced last week that japan had a 59 billion dlr trade surplus with britain in 1986
m corp inc year dec 28 net
the issue matures on may 1 2001 and is priced at 30 pct
eastman kodak co ek and wr grace wr both have joint ventures with cetus but neither owns an equity position in the company said fildes
american express ambitious plans for international growth may be also enhanced by the added cash that spinning out part of shearson would bring
a spokesman for the chinese national federation of industries told the mission was part of a broader plan to switch large purchases to the us from japan
british land of america inc bla year march 31
congressmen from beef producing states and representatives of the us livestock industry urged the reagan administration to press japan and south korea to open up their markets to imports of beef
the balance is payable over three years
ryan said you always have to look at polaroid at its weakness
the economy is not receiving a considerable amount of the equipment that it requires said talyzin who heads the state planning committee gosplan
japans 586 billion dlrs trade surplus with the united states last year has come under fire in congress which is concerned about the loss of jobs to foreign competition and with the record 169 billion dlrs us trade deficit in 1986
international transactions of non banks again led to a significant inflow of funds the bundesbank said
shr five cts vs nine cts net 560000 vs 1247000 revs 7597000 vs 4619000 year shr ten cts vs 17 cts net 1225000 vs 2161000 revs 265 mln vs 233 mln
april delivery cattle on the chicago mercantile exchange closed at 6445 cents a pound up 083 cent as the market expected demand for live animals to increase as the plant restarts operations
the rescheduling covers public sector trade debts coming due between september 1986 and march 1988
annual div class a 14 cts vs 12 cts prior annual div class b 121 cts vs 104 cts prior payable april one record march 20 note full name is bdm international inc
the bank said community state banks shareholders approved the merger at a meeting last saturday while monday the directors of 1st source also approved the move
southdown sdw debt downgraded by moodys
another topic for debate is expected to be the continued slide of the lebanese pound against the dollar and the undermining of the effective capital base of lebanese banks
semi annual div four cts vs four cts pay april 30 record april 9
stars to go star gets stores agreement
kelman said the sale of delhi would enable csr to focus efforts on expanding business areas such as sugar and building materials in which csr has had long and successful management experience and strong market leadership
bluefield supply co said its board declared its second liquidating dividend of 171 dlrs per share payable march 16 to shareholders of record march 13
oper shr nil vs profit one ct oper net profit 14000 vs profit 51000 revs 5547000 vs 6021000 six mths oper shr loss nine cts vs profit seven cts oper net loss 383000 vs profit 314000 dlrs revs 931000 dlrs vs 125 mln note 1986 qtr and six mths excludes loss 171000 dlrs and 358000 dlrs respectively for loss from discontinued operations
proceeds from the offering will repay the companys debt and will be used for general corporate purposes
bell group confirms standard chartered stake
because the dow chemical notes carried an interest rate floor of 17 pct the issue saw strong investor demand underwriters said
there is a 1 3 8 pct selling concession and a 5 8 pct combined management and underwriting fee
cyacq corp said it extended its 80 dlr a share tender offer for cyclops corp to march 20 from today
the us agriculture department announced the prevailing world market price adjusted to us quality and location for strict low middling 1 1 16 inch upland cotton at 5269 cts per lb to be in effect through midnight march 5
union enterprises ltd said its agreement to sell its interest in canbra foods ltd to macluan capital corp has been terminated
the china times which has close ties with the government quoted central bank governor chang chi cheng as saying the government had agreed in principle to liberalise financial restrictions
the issue will be in three tranches with bnp being the book keeper for a 770 mln franc 15 year 910 pct fixed rate tranche issued at par
november and december production figures also exceeded last years totals with the result that output in the first three months of the season showed a 231 pct increase over 1985 86
the oecd outlook did not take account of the 6000 billion yen package announced last month to stimulate domestic demand and increase imports to japan
us corn market skewed by soviet buying
california microwave cmic takes 3rd qtr charge
i put it to the post and telecommunications minister that i was sure he did not want to be responsible for an abrupt deterioration in the trading relations of our countries which would have widespread reverberations elsewhere in the world howard told reporters
us undersecretary of state for economic affairs allen wallis said he had urged japan to do much more to reduce its large trade surplus with the united states
he said wppss had made no public forecasts of power demand in connection with the bond sale and had never understated the cost of the plants
the company also said it finalized an agreement with a canadian marketing company to introduce the product in the country
while the court has not issued a final judgment selas said it indicated that milgard will be awarded about one mln dlrs in damages
yesterday fed funds averaged 599 pct
the four issues now offer investors striking prices for gold ranging from the indosuez issue at 410 dlrs an ounce the same price as the underlying commodity to a 430 dlr level on the first one for citibank
india has targeted to produce between 178 and 183 mln tonnes of foodgrains by the last year of the seventh five year development plan ending march 31 1990
fed says us discount window borrowings 361 mln dlrs in april 8 week
shr loss 10 cts vs profit six cts net loss 986000 vs profit 576000 rev 96 mln vs 91 mln year shr loss seven cts vs profit 27 cts net loss 714000 vs profit 2299000 rev 428 mln vs 346 mln
vernitron vrn sets record date for merger vote
staodynamics inc sdyn 4th qtr net
the issue was increased from an initial offering of 100 mln dlrs
aegon expects moderate rise in 1987 profits
it said the drop in crude oil and natural gas liquid reserves reflected downward revisions of previous estimates caused by the sharp drop in oil prices last year
using soybean specific certificates to further buydown the loan rate or implementation of a marketing loan have been pointed to as the most effective ways to get soybean prices competitive
pacific gas had been carrying the other 60 pct as a deferred cash receivable and accounted for the non cash item as income
the earthquake last thursday night registered six on the 12 point international mercalli scale
the central banks surprise signal followed its strenuous efforts last week to prevent market forces from bringing down base rates before the uk budget on march 17
japanese tariffs seen as worldwide warning
richard wiener attorney for apex at cadwalader wickersham and taft said the company has not yet decided whether to pursue its case against belcher oil
baker says us making progress reforming iadb
analyst paul spedding of brokers kleinwort grieveson noted that any effect on the government sale of its stake in bp would depend on the reaction of the markets
speculation even surfaced of a discount rate cut to calm the markets dealers said
there were 603106 shares outstanding as of december 31
hu said these obstacles have been resolved and regular issues of government securities will be made initially carrying terms of up to five years and market related yields
japan personal savings soar in 1986
met pro corp mpr to pay regular dividend
us officials say about half of the orange juice consumed in the united states comes from brazil
speculation about a bid for norcros had been circulating in the market for several months dealers said
it described damage as severe washington said four american frigates shelled and destroyed two iranian platforms at the rashadat formerly rostam field at 1100 gmt on monday in response to fridays missile attack on a us flag ship in kuwaiti waters
funaro is currently on a european trip seeking to involve governments in negotiations with commercial banks on rescheduling part of brazils foreign debt which totals some 109 billion dlrs
mobil also said that effective today it changed its gravity adjustment scale as follows from 20 degrees to 34 degrees api mobil will adjust its price 0015 of a ct per one tenth of an api degree
bhp will subscribe for the remaining 540 mln shares or 56 pct of issued capital on the same terms
lower refinery operations seen producing profits
tcby enterprises inc said its board has approved a three for two split of its common stock with a distribution to be made on april 24 to stockholders of record on april 9
officials at several other firms who also declined to be identified said they were reviewing their position to decide whether to continue making markets in frns
under a separate agreement japanese and foreign brokers will allow the latter including the six newcomers to underwrite five pct of the enlarged share up from 119 pct underwriting sources said
dealers said the worsening trade relations between the us and japan will continue to depress the dollar
concepcion speaking at an informal meeting of the general agreement on tariffs and trade gatt here said ministers declared in uruguay last september that the trade of less developed nations should not be disrupted
the federal energy regulatory commission ferc issued a proposed policy statement for the recovery of take or pay costs imposed by existing natural gas contracts between producers and pipelines
in 1986 japanese exports to the ec totalled 3067 billion dlrs up 45 pct from 1985 while ec exports to japan fell one pct to 1243 billion dlrs
the united states taiwans main trading partner has said the islands import tariffs still ranging from a high of almost 60 pct were unacceptable
the company did not disclose the details of the revised offers but said a special committee of its board would review them later today
details of the proposal were not disclosed
minorco mnrcy half year dec 31
chevron chv unit accepts american express
britains visible trade deficit narrowed to a seasonally adjusted provisional 224 mln stg in february from 527 mln in january the trade and industry department said
the february rise in production was aided by a sharp 19 pct increase in construction output compared with january when production in many industrial sectors was depressed by unusually severe winter weather
the surplus is estimated at 350 billion yen due mainly to excess bank holdings of yen funds after heavy dollar purchases in the foreign exchange market yesterday money traders said
newmont doubled its ownership in peabody in january by purchasing 3074 pct interest held by the williams cos for 320 mln dlrs
the effective date of the rule has yet to be determined
new england electric said internally generated funds will cover all of its power plant construction costs this year and 65 pct of the 108 mln dlrs its retail distribution units plan to spend in 1987
unemployment in 1987 is put at 55 pct in line with last year the office predicted in its regular review
some analysts said foreign investors had long ceased to watch the sterling m3 target and lawsons move to scrap it altogether earlier this week removed whatever was left of its credibility as a key factor in monetary policy
lyng said he had no knowledge of how much us grain moscow would buy this year
kohl reiterated german objections to proposed cereals production curbs but reserved his harshest criticism for a proposed dismantling of monetary compensatory amounts mcas a system of cross border subsidies and taxes which level out foreign exchange fluctuations for farm exports
the bond for westlb finance nv is guaranteed by the parent
the exchange offer faces numerous obstacles including the tender of at least 90 pct of the debentures and additional financing from lenders s and p noted
cti will become a wholly owned subsidiary of rabbit
he urged continued negotiations among coffee producers to pave the way for a coffee export quota agreement by september
marine midland mmb raises prime rate
but this view has since been clouded by reports from tokyo that nakasones assurances really constituted little more than politeness in the face of british anger they added
shr 19 cts vs 13 cts net 2656000 vs 1712000 revs 154 mln vs 9443000 avg shrs 141 mln vs 126 mln year shr 98 cts vs 77 cts net 138 mln vs 8928000 revs 588 mln vs 485 mln avg shrs 140 mln vs 116 mln note shr figures adjusted for 3 for 2 split paid feb 6 1987
dart said likely supermarkets general suitor
bache securities japan ltd hoare govett far east ltd and j
the facility incorporate a 70 mln stg committed element from a group of international banks
within three to six weeks in each instance however braverman said bond prices recovered to bring the yield down sharply by 63 to 82 basis points
the dollars fall was also prompted by a record one day drop in the dow jones industrial average on friday and weakness in us bond prices dealers said
new york coffee futures closed higher on trade talk brazil would not be an aggressive seller near term analysts said
the office of finance said allocation of the 1997 issue will be limited to members of the long term selling group
brenco inc bren declares qtly dividend
x includes imports
the bonds will be availalbe in book entry form only it said
lyng said the us made a case that us corn imports are not the cause of any problem of canadian corn producers adding that us corn exports to canada are declining
wilson was optimistic about the outlook for the canadian economy forcasting gross domestic product would expand 28 pct this year and 30 pct in 1988
but the economists said this will be possible only if the organisation of petroleum exporting countries opec succeeds in defending world oil prices and if saudi arabia is not forced to curtail output for too long
gulf applied technologies gats sells units
canadian narrowly defined money supply m 1 fell 555 mln dlrs to 3242 billion dlrs in week ended march 18 bank of canada said
gaf a roofing and chemicals concern attempted a takeover of the much larger union carbide corp two years ago
almadens administrative functions will move to heubleins headquarters in farmington conn the company said
the steel market weakened increasingly over the year mainly because of exchange rate movements the deterioration in foreign trade and a downturn in a number of customer industries
mountain states resources corp said it acquired two properties to add to its strategic minerals holdings
venezuela to announce new debt conversion plan
he added the caracas based andean development corp had granted a loan of 117 mln dlrs towards repairing the pipeline 50 km of which had been damaged in the quake
along with the fall in drilling has come a decrease in the number of producing wells and overall production
analysts said the companys downbeat forecasts helped shares dip to 242p in mid afternoon down 4p from yesterdays close and off an early high of 248p
herbal medicine and textiles were among chinas chief exports to taiwan
senior central bank officials suggested to reporters last week that the foreign exchange ceiling will be lowered to discourage banks use of excess funds for currency speculation
there is not much trading of bank issues these days an underwriter said referring to the wider bid offer spreads
hogan said systems 4 provides integrated applications software and processing services to about 30 community banks
a cftc spokesman said the commission took into account open interest affected by existing speculative limits in proposing to raise cbts limits
the east asiatic company ltd a s is raising 150 mln marks through a 5 1 2 pct bullet eurobond priced at 100 1 4 lead manager commerzbank ag said
the brazilian coffee institute ibc has given shippers until close of business on thursday to submit details of past export performance in order that individual quotas can be allocated an ibc spokesman said
the issue has equity warrants attached and late in the day it was quoted on brokers screens at 106 1 2 bid only
pentron corp pen unit to buy ice creations
m 3 rose to a revised 8238 billion rand in april from a preliminary 8217 billion and marchs revised 8139 billion
wickes companies wix completes sale of unit
the company said it expects to resolve delivery problems this year which last year hindered the growth of its toy distribution business which accounts for about one third of revenues
commercial metals co cmc 2nd qtr feb 28 net
the miners statement said police had violently evicted comibol office workers in the city of oruro after they began a hunger strike yesterday
about 800 mln dlrs of the purchases here were in goods of the type south korea normally bought from japan
police were called but the fighting had ended by the time they arrived
brazils state oil company petrobras is pledging to export 46 mln cubic meters of fuel or 289 mln barrels in 1987 a company spokesman said
mason best which belongs to cni parnters a texas partnership would not tender any of its stake under the plan but would instead buy another one mln comdata common shares and would get representation on the companys board
qtr ended september 30
affirmed were avco financials a 3 senior debt baa 2 senior subordinated debt and baa 3 junior subordinated debt
the bearers held mainly by foreign investors dropped 30 swiss francs to 460
the federal bureau of statistics has not yet released last months import and export figures
i would imagine there will be a lot of politicking among producers behind closed doors to work up some kind of proposal by september the next scheduled council meeting bronwyn curtis of landell mills commodities studies said
demetree and managers of pcr
to implement the plan of sharpening its strategic focus on consumer goods and services the company will give serious consideration to the sale of its pneumo abex its aerospace and defense company if it can realize a price which will return maximum value to shareholders
cominco cltto union rejects contract
it therefore took the bold step of withdrawing more than 50 billion riyals from its reserves and pumping it into the economy he said
it said the imports will be used to rebuild the federal reserves and as a result will not be subject to import surcharges
the exploratory well spudded at a depth of 2140 metres yielded 2000 barrels of oil and 180000 cubic metres of gas per day he said
levon resources ltd said re checked gold assays from the howard tunnel on its congress british columbia property yielded higher gold grades than those reported in january and february
of those paying higher prices now the average increase was put at 25 pct
it also requests damages to be determined at the time of trial
company said common shares outstanding down significantly to 7814000 reflecting retirement of about 5200000 shares since start of restructurining in august 1986
the row in the aegean erupted after turkey said it would search for oil round three greek islands off its coast following an announcement from greece that it planned to drill east of thassos island after taking control of a canadian led oil consortium operating in the northern aegean
like dated interbank deposits were quoted today at 6 3 4 5 8 pct
atcor inc said that roth american inc which had signed a letter of intent on may 1 to acquire its turco and charmglow operations of its consumer products segment has decided against buying charmglow
encor energy corp inc said it planned an issue in canada of 125 mln dlrs of 675 pct subordinated debentures convertible any time into encor common shares for a price of 10 dlrs a share
indonesias foreign debts are a cause for concern but remain within manageable limits world bank president barber conable said
the investors said about 132000 shares or about 20 pct of the outstanding had been tendered
the quake damaged 40 km of an oil pipeline forcing this opec nation to suspend crude exports for four months president febres cordero said in a statement issued today by the presidential press office
the spokesman said talks were still ongoing with the two other striking locals representing 600 office and technical workers
us business loans fall 660 mln dlrs
the portfolio manager noted that besides the three federal government loan stocks so far this year it has also fallen back twice to raise a total 643 billion marks through the issue of fixed rate medium term kassenobligation notes
harcourt in response to a hostile two billion dlr takeover proposal from maxwell planned a recapitalization that would pay shareholders 40 dlrs per share
travers
shr 140 dlrs vs 116 dlrs net 5776000 vs 4429000 avg shrs 4132828 vs 3834117
agriculture ministry officials said they are not considering cuts in import duties on chocolate to help ease friction with the united states over agricultural trade
it raised the preferred stock to aa minus from a plus and preference stock to a plus from a and affirmed iowa illinois aa senior debt aa minus subordinated debt and a 1 plus commercial paper
the non callable bond is guaranteed by the parent
frozen pork belly stocks at 345 mln lbs on march 1 compared with a revised 349 mln lbs on february 1 for a net out movement of 05 mln lbs
bankers trust bt debt downgraded by moodys
the bank of england said it had revised its forecast of the liquidity position in the money market today to a surplus of 150 mln stg after it estimated a flat position earlier this morning
in its international weather and crop summary the agency said the moisture lessened the need for irrigation
united will pay pan alberta producers about 50 mln dlrs over the interim period and take at least an average 40 mln cubic feet a day of gas pan alberta said
oper shr seven cts vs 20 cts oper net 347855 vs 787117 revs 6748868 vs 6849499 avg shrs 5391666 vs 4277157 year oper shr 56 cts vs 46 cts oper net 2617528 vs 2003661 revs 271 mln vs 273 mln avg shrs 4763793 vs 3377157 note net excludes realized gains on investments of 925576 dlrs vs 577389 dlrs in quarter and 1776341 dlrs vs 797932 dlrs in year
the national australia banks hong kong branch is planning a 75 mln australian dlr floating rate certificate of deposit cd issue banking sources said
pinola said first interstate like other banks has not yet decided to put the loans which brazil stopped paying interest on last month on non accrual status
west german finance minister gerhard stoltenberg said todays meetings of major industrial countries would look at ways of strengthening the paris accord on stabilizing foreign exchange rates
the public sector borrowing requirement psbr contracted by 300 mln stg after a contraction of 37 billion stg in january
the executive committee is due to meet friday at 1100 gmt with the council unlikely to reconvene until late friday consumers said
they the kuwaitis have also asked britain china and possibly some other european countries to lease tankers to carry their oil one of the administration officials who asked not to be identified told 
excluding bojangles the group had revenues of 438 mln dlrs
almi group lp said its co chairmen michael landes and albert schwartz and its vice chairman michael spiegler have acquired a 50 pct equity interest in clearview baking corp for undisclosed terms
no reason was given for the purchases
romero said he would tell big buyers of copra meal in london that the philippines was doing its best to meet ec standards
belgelectric raises 300 mln luxembourg francs
the proposed boost is based on a government forecast that gross national product gnp will grow by more than 75 pct and the gnp deflator by 35 pct in 1988 against targets of 80 pct and 35 pct respectively this year they said
egypt which already imports soviet coal wood newsprint and glass also wanted a debt deal to allow purchases of currently blocked spare parts for its ageing soviet military hardware the officials said
pdvsa vice president pablo reimpell said last week the first shipment of coal from the carbozulia project should be made during the final quarter of 1987 and would measure between 100 150000 metric tons
now its nic bashing said robert chandross of lloyds bank plc
however warm temperatures over the past three weeks have promoted some early growth and will help the crop catch up on last falls late seeding it said
shr 92 cts vs 91 cts net 241 mln vs 227 mln avg shrs 254 mln vs 248 mln nine mths shr 20 cts vs 258 dlrs net 6028000 vs 627 mln avg shrs 254 mln vs 243 mln assets 103 billion vs 921 billion deposits 710 billion vs 632 billion loans 652 billion vs 560 billion
group figures for 1986 exclude bsv bank fueer sparanlagen und vermoegensbildung ag which no longer consolidated
without supplying specific figures barnes told shareholders at its annual meeting it expected net income to improve at a rate exceeding its growth in sales which was two pct higher than 1985
the two sides usually try to meet as each new year of the agreeement approaches although the last meeting was delayed up to last february
getty petroleum corp said its board declared a five pct stock dividend payable on april 21 to shareholders of record april 10
ecuador needs 120 mln dlrs to repair the damage to its oil export pipeline caused by last weeks earthquake which will stop crude exports for five months energy and mines minister javier espinosa teran said
he reported that the 23 mln dlr hydrocal ii system under construction at the companys refinery in princeton la is on schedule and production will begin early in fiscal 1988
nevertheless he said it was likely to result in a boost to the conservative partys pre election popularity
proceeds will be used to finance development
qtly div three cts vs three cts prior pay may 1 record march 31
canadian imperial bank lowering visa rates
as a result of the split hanover said it increases the number of authorized shares of capital stock from 104 mln having a par value of one dlr to 209 mln also having a par value of one dlr
many analysts are skeptical about further gains in the pound on the inference that the bank of england will seek to relieve upward pressure on the currency by pushing down interest rates after the nations budget is released march 17
the corporation believes that it is premature to make a decsion to classify such medium and long term debt as nonperforming at this time first interstate said
oper shr 28 cts vs 33 cts oper net 1647000 vs 1910000 revs 197 mln vs 175 mln nine mths oper shr 82 cts vs 84 cts oper net 4787000 vs 8748000 revs 559 mln vs 530 mln note prior year net excludes tax credits of 29000 dlrs in quarter and 1761000 dlrs in nine mths
he declined to name terms
fed adds reserves via customer repurchases
time tl 1987 earnings may be 425 dlrs share
the new moves are based on wide ranging proposals made in late december by advisers to finance minister kiichi miyazawa
the metals were found in rocks on the periphery of a sulphide deposit
versar inc said it has agreed in principle to acquire martin marietta corps martin marietta environmental systems unit for about 5300000 dlrs
they said there will be significant earnings gains in 1987 compared to last years dismal results when oil prices dropped about 50 pct
he ruled out a much higher volume of exports or up to 135 mln bags as mentioned in market circles because the idea is precisely not to disrupt the market colombia exported a record 115 mln bags in the 1985 86 coffee year which ended last september 30
more than 50 pct of the banks must give their approval and nogales said he is confident that this threshold will be reached
gold could rise as high as 500 dlrs per ounce later this year said peter witte director of westdeutsche landesbank girozentrales trading division after a presentation by the us mint to promote its gold and silver eagle series coins
town and country jewelry tnc first qtr net
the ec tariffs which would involve renouncing obligations entered into with the world trade body gatt would be designed to stop a diversion of exports to the ec market from that of the us the diplomats were meeting as tokyo announced that the ecs trade deficit with japan reached a record 213 billion dlrs in march up from 194 billion in february
the company said the transaction is valued at more than 99 mln dlrs based on its 4963620 shares of stock outstanding
polish banker pleased with world bank imf talks
spie batignolles could increase comstock holding
consumers and a splinter group of eight producers favoured redistribution of export shares using objective criteria which would likely have reduced brazils share
the majority of the 170 billion dlr merchandise trade deficit in 1986 was with japan
stone said that those electing to convert their holdings to common shares becoming holders of record by may 22 will be entitled to the 20 cts per share quarterly cash dividend payable june 12 as well as the additional shares from the previously announced two for one stock split to be issued on june 12
treasurys baker says new money not debt panacea
american vanguard corp amgd year net
shifts from mild to very cold weather in east germany damaged winter barley and late sown winter wheat in central regions and barley north of berlin the us agricultural officer in east berlin said
baglini an observer at argentinas negotiations in new york with the steering committee for its 320 creditors banks told the radio del plata in a telephone interview that the banks were divided on the loan request
a final dividend of 92p was proposed after a final 82p last year
combined fourth quarter pre tax profit 110 billion guilders vs 111 billion making 369 billion guilders vs 381 billion
quarter is companys first full quarter of earnings
the warrants will be listed in luxembourg and pay date is march 31
the loan assumption was again ratified by last weeks board meeting
but greater market capitalisation following the big bang restructuring last year provided an opportunity for change
top us and european farm trade and government representatives called for a sweeping reform of world agriculture to redress a critical demand and supply imbalance
the number of people actually receiving benefits under regular state programs totaled 2359000 in the week ended may 30 the latest period for which that figure was available
paul minn
stora close to completing papyrus takeover
the federal reserve board said it would release april consumer instalment credit figures on friday
anz bank to cut australian prime rate to 18 pct
the spokesman said chrysler officials in detroit had already visited lamborghinis production plant in bologna and another visit may be scheduled
monetary sources said that privately west germany welcomed the rise in the yen against the dollar while its own currency remained relatively stable against the us unit
they said crushers bought some 270000 to 280000 tonnes of us beans for april shipment
bundesbank adds money market liquidity at 370 380 pct dealers
i dont think march will be as strong because easter falls in april this year said morgan stanley analyst walter loeb
multi family fell 41 pct to a 534000 rate
salomon brothers co managed the deal
this compares with the banks estimate of the shortage in the system of 750 mln stg earlier revised up from 700 mln
the ferruzzi groups holding company agricola finanziara spa will pay 630 mln dlrs for the european corn wet milling business of cpc international inc under the agreement reached in principle between the two companies a statement by ferruzzi released by its brussels office said
canrad said the acquisition is expected to increase its annual revenues by about 10 mln dlrs
blackburn told our advisors told us that a split would give a better share value to investors and that the market would give better multiples for pure refining and marketing and exploration and production plays the two companies are now in the process of organizing themselves to become pure plays the executives said
qatar has chartered floating storage for its crude oil after finding no buyers at official prices in march
shr loss 15 cts vs nil net loss 4356285 vs profit 300000 year shr loss 12 cts vs profit five cts net loss 2744826 vs profit 2490262 note 1985 earnings restated for discontinued operations per share results reflect payment of preferred dividends company did not release revenues
the best crepe one x traded at 2368 rupees a kilo averaged 1975 at this weeks auction
later vice president glenn schleede said the utility is looking at gas fired combined cycle generating units to supply most of its new power needs but has not rejected coal fired fluidized bed units
in may the ministers are also likely to discuss how to prevent japan from getting an extra trading advantage as a result of spain and portugal joining the bloc which obliges them gradually to reduce tariffs on many industrial goods
denpac corp dnpc year loss
cooper development co bugs 1st qtr jan 31 net
it simply does not want to take the risk said one local banker
david wyss of data resources inc noted that imported manufactured goods prices rose 85 pct at an annual rate in the second half of 1986 which has contributed to rising us industrial output
the trail smelter about 400 miles east of vancouver produced 240000 long tons of zinc and 110000 long tons of lead last year
the tribunal upheld a countervailing duty of 849 us cents a bushel
these consist of 79 mln dlrs of adjustable rate class j 1 bonds to be fully paid by november 20 2013 priced at 9980 pct to yield 749 pct
elder beerman eldr gets offer of 30 dlrs share
shr profit nil vs profit five cts net profit 9879 vs profit 118852 revs 1581894 vs 1878052 avg shrs 2627952 vs 2617090 nine mths shr loss two cts vs profit 24 cts net loss 51001 vs profit 619860 revs 4006024 vs 6646587 avg shrs 2532959 vs 2621397 note nine mth orders 4601463 dlrs up 39 pct and backlog at end of period 4906670 dlrs up 83 pct from a year before
the government has said its fiscal policies will balance the budget by 1989
deregulation of japans oil industry could mean hardship for smaller firms and lead to their merging into bigger refining and marketing groups industry sources said
but he warned that his conciliatory message on the trade bill did not mean he would oppose a proposal that would warn other countries their access to the american market would be curtailed unless they opened their markets to us goods
peoples ban corp peop sees 1st quarter net up
the hague launches second tranche of cp program
nor did it specify if the sources were official or other contacts
japan sets aside yen funds to prevent dlr fall
the change in the dates was based on the companys desire to have the additional common and 25 cts preferred shares trade for the shortest practical period of time on a when issued basis following a favorable shareholder vote at the annual meeting june 24 it said
azuma steels current losses are estimated at 31 billion yen in the year ending march 31 against a 699 billion loss a year earlier a spokesman said
colonial clbga to acquire pensacola bank
there will be no solution without the further development of trade throughout the world director of public credit angel gurria told reporters that mexicos economy should resume growth this year but he said external conditions are not favorable
rosenbaum said the united states will be flexible in discussing the method of establishing objective criteria and any transition to new quotas but not on the basic aim of establishing an objective method of setting quotas
changing tax laws to encourage city residents who only farm on weekends to put their land up for sale for residential development would also give a boost to domestic spending economists said
baker said it believes the vote was overwhelmingly in favor of the merger
the sources would not reveal the amount of the fee which will be noted in documents on the transaction to be made public later this week
there will be a cap of 50 basis points over the london interbank offered rate liboron any drawings for advances and a 50 basis points commission on acceptances
waxman industries inc is raising 25 mln dlrs through an offering of convertible subordinated debentures due 2007 with a 6 1 4 pct coupon and par pricing said sole underwriter drexel burnham lambert inc
if he didnt say no then theres a chance
subscriptions close april 16 and pay date is may 14
henry schroder wagg and co ltd said
any european community decision to liberalise farm trade policy would hurt thailands tapioca industry said ammar siamwalla an agro economist at the thailand development research institute tdri he told a weekend trade seminar here that any ec move to cut tariff protection for ec grains would make many crops more competitive than tapioca in the european market
the won has gained 51 pct since the beginning of 1986
the smaller coins will be in denominations of a half ounce a quarter ounce and a tenth of an ounce
im not saying that is going to happen but gillette is an undervalued stock with a breakup value of 45 dlrs per share shore of shearson lehman said there are a couple of reasons why perelman may not be really interested in acquiring gillette
they said the reduction brings exxons contract barge price to 4325 cts
roldan told that brazil not only had to tackle the problems of satisfying domestic demand and competing on glutted world markets but also had to work to make its position on foreign exchange markets more profitable
zimbabwe gdp rises 02 pct in 1986
but there are doubts about how well the baker initiative has worked and about the world banks success at bringing about increased growth in the third world under the us prescription which indicated that countries might grow their way out of their difficulty
amcs toledo ohio jeep plant has 1850 hourly workers on indefinite layoff while its kenosha wisconsin car plant has another 2250 on layoff
as the operating companies need to return to the capital markets for debt and preferred stock this should tend to produce lower cost and better terms the company said
cocaine although illegal is bolivias largest export
colombian oil installations were not damaged by an earthquake which shook ecuador and southern colombia last night and there are no plans to suspend exports a spokesman for the state run oil company ecopetrol said
shr 30 cts vs 24 cts net 147 mln vs 113 mln sales 7389 mln vs 6051 mln avg shrs 490 mln vs 479 mln nine mths shr 111 dlrs vs 93 ctsd net 542 mln vs 429 mln sales 245 billion vs 195 billion avg shrs 489 mln vs 464 mln note twelve and 40 week periods
marks work wearhouse mwwto 1st qtr loss
middle south has petitioned the court for a rehearing or a stay of the order while it is being appealed
shr 31 cts vs 26 cts net 5645000 vs 4737000 sales 552 mln vs 506 mln 1st half shr 60 cts vs 53 cts net 109 mln vs 9659000 sales 1104 mln vs 1022 mln note current year net both periods includes 474000 dlr gain from land sale
ccc accepts bids on bonus wheat to algeria usda
however he was skeptical a company outside the package delivery industry would want to outbid 40 dlrs per share because it would not have the same synergies as a courier company
consul cnsl sees improved liquidity
jordan petrocanada agree oil exploration project
hutchison said earlier it will sell its entire 235 pct interest in hongkong electric holdings ltd hkehhk to cavendish international holdings ltd itself a spin off from hongkong electric
us steelmakers union seek renewed import curb
the article followed international press speculation that the bundesbank had abandoned money supply targetting in favour of an exchange rate policy
the year on year increase for february was 79 pct compared with 57 pct in january and 22 pct in february 1986 it added
a report by the stockbrokers said that on a new field not paying prt due to its small size the relief would directly benefit in prt saving on an existing field
secretary of state george shultz said the us would erase its large foreign trade deficit faster than many predicted and the consequences for its trade partners might be traumatic
gatt warned there was a risk of a sizeable increase in the us inflation rate under the combined impact of a rapidly expanding money supply and low dollar
sigma said the reserves are equivalent to 10 years future production at current milling rates
the deposit for spread contracts will be similarly cut to 150 stg for a one 10 tonne lot from 200 previously he said
american tax dollars are being used to subsidize foreign agriculture and mineral production that is often in direct competition with our producers sen
but one informed congressional source said singling out corn for an arp increase would would be seen as unfair to one commodity
edelman group committed to telex tc bid
a change in one mln tonnes in production would alter revenue by about 45 mln stg in 1987 88 and 50 mln stg in a full year it added
shr 365 dlrs vs 33 cts net 825 mln vs 7300000 sales 944 mln vs 854 mln avg shrs 226 mln vs 217 mln note current year net includes pretax gain 1752 mln dlrs on sale of ophthalmic business and loss 179 mln dlrs posttax from repurchase of debt
fannie mae said the swap includes 15 year mortgages for fannie mae stripped mortgage back securities that bear a nine pct coupon
princeville pvdc to sell its air operation
terms of the sale were not disclosed
the company said the 1987 share forecast is based on 25 mln shares outstanding after a one mln common share issue on december 30 1986
qtly div 33 cts vs 28 cts prior pay june 1 record may 1
german net currency reserves fall 54 billion marks to 817 billion bundesbank
fresh talks have been scheduled for next tuesday he said
on the trade deficit johnson warned against quick fix solutions which he identified as excessive dollar depreciation or protectionist trade legislation
wardair international ltd year net
the company said it is optimistic it will recover in the second half and report higher earnings for full year fiscal 1987
reagan said his administration has already proposed deregulating natural gas and eliminating the windfall profits tax on crude oil production
gaviria stressed that colombia tried to ensure a successful outcome of the london talks but he deplored that intransigent attitudes both from producing and consuming nations made it impossible
of nine satellite television channels operated by viacom four are motion picture oriented pay channels
comtrex systems corp comxo year loss
it said the ec industrial production index base 1980 stood at 1039 in both months
final div 7p making 12p vs 10p
foster reported after tax earnings of 28 mln dlrs 26 mln dlrs and 354 mln dlrs for 1986 1985 and 1984 respectively
city investing co liquidating trust said it declared a cash distribution of 25 cts a unit payable april 10 to unit holders of record april one
shr profit 13 cts vs loss one ct net profit 853000 vs loss 22000 revs 411 mln vs 203 mln avg shrs 6349753 vs 4403852 nine mths shr profit 57 cts vs profit 28 cts net profit 2869000 vs profit 1252000 revs 1190 mln vs 676 mln avg shrs 5054844 vs 4403000 note company went public in october 1986
universal holding corp uhco 4th qtr net
some us officials believe japan may eventually be willing to scrap the quota on fresh oranges because liberalized trade would not necessarily damage the japanese mandarin orange industry
strata said it owed 14 mln dlrs in overdue interest to its lender at the end of 1986 and the entire 109 mln dlr principle has been classified as a liability
average borrowings by these banks were 142 mln dlrs in the first week of the period
a company statement said the firm expects to pay a total 1987 dividend of four cents per b share while the a share dividend will be maintained at last years level of 40 cents a share
avnet inc avt files for debenture offering
bruce ginn cattle analyst for the helming group formerly lbas said the lighter cattle are being placed on feed mainly because of two factors low grain prices and higher live cattle prices
investors remain cautious of the dollar which though recently stable still has potential downside risk
according to central bank figures indonesia exported 362700 tonnes of crude palm oil to ec countries in calendar 1985 and 301400 tonnes in the first 10 months of 1986
analysts said the market is anticipating a downward revision and much of the bullish impact has been discounted
japan will import a total of 49 mln tonnes from both areas up from 42 mln a year earlier they said
the issue is non callable for life and rated baa 1 by moodys investors service inc and bbb plus by standard and poors corp
between purolator and interlink in view of a takeover or participation
but the at the same time home remittances by pakistanis abroad dropped to 23 billion dlrs from the 1985 86 level of 2595 billion
if debt restructuring talks between brazil and its creditor banks are not completed by the end of the third quarter the company estimated brazils action would reduce its net income for the year by about 22 mln dlrs
us feedgrain sales will also drop if japan opens up its beef imports since japan depends almost entirely on feedgrain imports mainly from the us japanese officials said
manila seeking to reschedule 94 billion dlrs of its total debt of 272 billion wants to pay the london interbank offered rate libor in cash and a margin above libor in pins
this will be a difficult budget for the opposition labour party to attack shepherd said
beghin say says sugar offer to ec still stands
federated department stores inc fds 4th qtr
the joint committee of taiwans maize importers awarded contracts to five us companies to supply a total of 462000 tonnes of maize for delivery between may 10 and october 10 a committee spokesman said
mannesmanns profit fell by an undisclosed amount in 1986
transco said it filed a revised settlement proposal which would permit it to become an open access transporter while restructuring gas sales services
it also suggested the setting up of a marketing mission on coconut fibre to be sent this month to principal target markets
if the dollar drops to that low level it could reduce the flow of foreign capital into us securities which the americans dont want said haruya uehara chief money market manager of mitsubishi trust and banking corp
ia so minn direct hogs estimated rcpts 95000 vs actual week ago 93000 and actual year ago 93000
the refined palm oil market was slightly easier and april delivery of rbd palm olein to singapore traded at 85650 ringgit per tonne
next week ohio river owensboro south 125 pct bid 132 1 2 offered up 7 1 2 points
santos chairman sir brian massy greene said in a statement that increased production particularly of oil and lpg along with reduced operating costs and reduced or deferred oil exploration and development outlays were helping santos deal with an adverse business climate
london sugar freights
he said in an interview with that after a few years it was likely south korea would drop barriers to foreign goods and move toward a more balanced trade position
mepc plc mepcl said that its offer for oldham estates ltd would remain open until further notice
martin marietta closed and mothballed the smelter in 1984
coastal cgp hit with two billion dlr lawsuit
but in the eastern states the wheat area should hold up provided that rainfall between now and june is not less than average awf said
inflation has literally disappeared from the face of the earth in the industrialized world but interest rates are still near seven pct industrial powers must also improve the coordination of their economic policies to boost unacceptably low growth rates and to keep export markets open said gurria who is mexicos chief debt negotiator
herrington also pressed anew for existing administration proposals to deregulate natural gas which he said would cut the need for imported oil by 300000 barrels daily
berliner bank ag berlin is issuing a 50 mln australian dlr eurobond due november 13 1990 paying 14 1 4 pct and priced at 101 1 2 pct lead manager banque paribas capital markets said
shr 17 cts vs 10 cts net 22 mln vs 13 mln sales 406 mln vs 326 mln
it invited bids by april 6 and payment date for the loan is april 10
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
dealers said federal funds were trading at 6 1 16 pct when the fed began its temporary and indirect supply of reserves to the banking system
chanthong pattamapong a commodities trader asked to to draw up the study said if the maize futures market succeeds it may be extended to other commodities perhaps sugar and rubber
coca cola enterprises inc is raising 600 mln dlrs through offerings of 10 year notes and debentures due 2017 said lead manager salomon brothers inc
the minister said some of the existing 30 sayam bank branches will be merged with their krung thai counterparts while others will continue operating but under krung thais name
fed not expected to take money market action
congressman urges wheat eep to soviet union
cooper said the technology in the iranian sales was available elsewhere and that foreign companies would get the iran business if the us export licenses were not approved
golden enterprises inc gldc 3rd qtr feb 28 net
halcyon investments a new york risk arbitrage and securities dealing partnership told the securities and exchange commission it has acquired 288000 shares of cyclops corp or 71 pct of the total outstanding
li said modern equipment and advanced technology would increase yields
oper includes writeoff related to subordinated note exchange of 185000 for current qtr and nine mths
american cablesystems acn to buy cable system
morgan grenfells bell forecast a half point base rate cut from the current nine pct level soon after the election so long as poll projections of another conservative victory prove accurate with another half point later
forged exxon xon zero coupon euronotes found
assets of money market mutual funds rose 139 billion dlrs in latest week to 23677 billion
douglas said in a budget statement the surplus is the first achieved in new zealand in 35 years
oesterreichische kontrollbank ags 100 mln canadian dlrs of nine pct guaranteed eurobonds due 1997
operations in continental europe made 78 mln stg in trading profit up from 34 mln with 40 mln stg made in australasia up from 23 mln and 113 mln stg from the rest of the world against 131 mln in the previous year
in addition dca said it agreed to limit its ownership in cts for the year following the 1987 annual meeting to not more than 35 pct of the outstanding stock
new dutch advances total 41 billion guilders
ford motor f distributes profit sharing
i wish to pay tribute to the private sector for its contribution to the economy in 1986 and challenge it to maintain the same spirit this year the manufacturing sector grew by an estimated 58 pct in 1986 in line with the same period the previous year he said
the pins proposal has now been left on the table as a separate option for those banks which might want to fund their own investments in the philippines or sell the notes in the secondary market ongpin said
zambia clears imf 1985 debt
fhlbb says mortgage rates continue decline
the warrants are exercisable from may 21 1987 until april 23 1992
fed funds were trading at 6 11 16 pct compared with fridays average of 663 pct
stronger domestic demand growth in the major industrial countries would help give balance to the current world recovery he said
trelleborg take larger slice of boliden
the fitness inc said it agreed to buy livingwell incs manufacturing unit powercise international inc for 110 mln the fitness shares valued at about 30 mln dlrs
qintex will also acquire another 24 mln roach treasury shares at seven dlrs a share 12 months after closng for another 168 mln dlrs hrs said
ronald glantz of montgomery securities said amc common stock could be fairly valued at just under five dlrs a share given changes brought by tax reform and that chryslers offer to pay four dlrs a share of chrysler stock to amc holders other than renault as a a good price for chrysler
it has commitments to export another 388390 tonnes this year
the agency said rainfall during february was near to above normal in most areas but earlier periods of hot dry weather reduced yield prospects in parts of the northern transvaal and southern orange free state
the hong kong branch of mitsubishi bank ltd is planning a 300 mln hk dlr revolving certificate of deposit cd issuance facility banking sources said
for the first three years after the notes are issued interest will be paid at emerys option in cash or in additional notes emery said
elsewhere maize from east london to japan paid 22 dlrs
japanese exports contracted five pct in february from january but are likely to grow from march if the yen stabilizes around current levels the officials said
tel a data serves about 50 bank and thrift institutions through a processing center in lombard illinois
canadas move to shorten debt terms aids market
the institutes were divided in their spring report on forecasts for 1987 with three predicting two pct growth and two seeing only one pct expansion
they touched a high of 538p earlier on news of a 19 pct rise in annual profits to 139 billion pre tax
toronto dominion bank nassau branch is issuing a 40 mln australian dlr eurobond due may 15 1990 paying 14 1 2 pct and priced at 101 3 8 pct lead manager hambros bank ltd said
wavehill international inc makes purchse
brazilian finance minister dilson funaro flatly rejected a uk suggestion that his country seek international monetary fund help in order to facilitate debt negotiations with commercial creditor banks
now both oil and gas prices are severely depressed johnston said
resdel rsdlo san bar sbaro in merger deal
world per capita consumption of vegetable oil will rise in 1986 87 for the third straight year
moodys reduced to prime 2 from prime 1 the commercial paper of dana and its credit unit
the venezuelan company also signed a 25 year feedstock agreement with the partnership to supply at least 140000 barrels a day of venezuelan crude oil and naphtha at market related prices
lawson says some countries could cut rates
the finance ministry is still asking financial institutions to limit speculative dollar dealings finance minister kiichi miyazawa told reporters
inter tel inc intlao 2nd qtr may 31 net
the case is being appealed to the us appeals court
in 1987 income will be higher private consumer spending is likely to recover and expand the budget will remain under strict control the resource gap in the governments finances on current account will be bridged over the near term bank governor jaafar hussein said in the report
st
it would have no impact on earnings whatsoever he said
standard and poors corp said it downgraded 17 billion dlrs of debt of united technologies corp and subsidiaries
a new catalytic cracker at shells stanlow refinery will now come on stream by the end of first quarter 1988 about five months behind schedule following a crane accident which severely damaged the plant last year he said
the european commission recently made available 70000 tonnes for next weeks tender
united illuminating co said that if the department of utility controls approves an earnings stipulation agreement submitted march 18 it will reduce through accounting procedures its 1987 noncash earnings by 16 mln dlrs or 115 dlr per share
this was 519 pct up from 4998 billion at the end of november and 4185 pct up from 3709 billion in december 1985
the study said ore reserves including dillution were 3302000 tons at 077 ounces of gold per ton at a cut off grade of 0026 ounces per ton and stripping ratio of 424 to one
in january the company filed a formal rate case with new mexico regulators seeking a 2166 pct increase in its annual rates there which would have been equal to about 139 mln dlrs net of fuel savings
in looking ahead to the us treasury mini refunding auctions of 2425 billion in t notes on tuesday wednesday and thursday singer said the market will likely greet the results with little excitement
gte gte sells debentures yielding 8737 pct
corporate mergers and acquisitions in and around san francisco over the past seven years have had only a modest effect on the metropolitan areas economy a leading business backed organization said
qtly dividend payable december seven to shareholders or record november nine
s and p said the merger would allow american security to diversify its wholesale funding base
such a plan would allow the united states to block any loan it did not like with the assistance of only one other country
smith kline said that depending on its share price and the cost of money it may buy back more shares
most recently when prices of perpetual floating rates notes frns suddenly plunged most market makers abandoned the securities altogether leaving investors stuck with about 17 billion dlrs worth of unmarketable securities on their books
but ortiz mena said latin america and the non regional members including europe and japan had all supported a 40 pct veto level
peru registered a 16 mln dlr trade deficit in 1986 its first trade shortfall in four years a central bank statement said
operating profit at the companys northwest pipeline corp unit fell 45 pct to 150 mln dlrs from lower sales
fees are 1 1 4 pct for selling and 5 8 pct for management and underwriting combined with a 1 8 pct praecipuum
ef hutton and co inc and ubs securities inc co managed the deal
brazils funaro heavily criticized the panels in london on monday charging that they are unresponsive to new ideas and that us banks are over represented on them
munro said book publishing is an area that interested time
neworld bank for savings nwor 1st qtr net
weston inc wstna 4th qtr net
but there was a clearly justified need for them
officials in jakarta said the new pact would bring benefit to indonesias rubber industrys by stabilising prices
bankamerica bac completes mortgage unit sale
foreign governments and multilateral organisations hold one third of ecuadors 816 billion dlrs total foreign debt he said in a news conference at the presidential palace
great northern nekoosa first qtr shr 159 dlrs vs 54 cts
china india and south korea have increased output while the middle east and africa have doubled imports since the mid 1970s the report said
another 400 billion yen will yield 37991 pct in a 20 day repurchase pact maturing on april 28 they said
bci said its aims are to invest in established companies principally family companies with succession issues and corporate spin offs
it said the offer is dependent on filings with the securities and exchange commission
when asked how much was left of the oil platform weinberger said nothing there was no iranian reaction he said
because brazilian soybean prices are now some 10 cents a bushel cheaper than us origin due to the bumper harvest it is highly likely that japanese crushers will increase their buying volume one source said
the committee said us technology export restrictions and selectiveness towards foreign contractors had denied british competitors more lucrative orders and largely excluded them from technological research for sdi
horizon bank hrzb sets stock split
last weeks announcement by brazil that it would indefinitely suspend interest payments on an estimated 68 billion dlrs owed to commercial banks prompted japanese creditors to finalise the project the sources said
and even if japan had the additional ethylene there is a logistical problem of finding extra appropriate sized vessels to ship it to korea said one trading house source
indonesia rejects world bank farm reform proposals
computer microfilm corp said it expects revenues of over 125 mln dlrs and higher earnings in 1987
the plan would initially apply to cereals beef veal and wine they added
during the same period us soybean stocks increased 121 mln tonnes becoming the dumping ground of the entire world surplus courtesy of the ccc and highlighting the artificially high prices caused by the us loan program soybean prices and to a great extent world oilseeds prices are likely to be dominated by the loan program as long as the us soybean surplus continues
gulf and western gw to acquire british company
service resources corp src 4th qtr net
last year south koreas current account surplus was 465 billion dlrs
respondents said finance was harder to obtain which westpac chief economist bob graham said was probably because of high interest rates rather than the availability of money
but western economists said they treat soviet productivity figures with caution as they are more broadly based than in the west which measures worker output over a given period
bp said further details would be released on july 21
shr 103 dlrs vs 82 cts net 1982296 vs 1359273 revs 2403481 vs 1494304 investments 224 mln vs 115 mln note shr figures adjusted for 3 for 2 split feb 23 1987
progressive savings and loan association prsl said it has agreed in principle to be purchased by far west financial corps far west savings and loan association
certainteed seeks 150 mln dlr credit facility
lindner the cincinnati ohio investor who controls american financial corp said his talks with some of tafts managers and directors have been aimed at achieving an increased ownership position in the company
the official said both surplus countries like west germany and japan and deficit countries like the us agreed to play a role in bringing about more balanced economic growth
the use of generic commodity certificates or certs for fiscal years 1986 88 will save the government 50 to 100 mln dlrs department of agriculture undersecretary daniel amstutz said
quaker oats oat sells vernells fine candies
we have resolved major differences of opinion he told 
in future there will be no limit to the amount of lira bank notes both residents and non residents can bring into italy
the commodity credit corporation ccc has accepted a bid for an export bonus to cover the sale of 15000 tonnes of frozen poultry to iraq the us agriculture department said
us asks japan end agriculture import controls
hawker siddeley also said demand for new railway equipment was limited with export sales frequently restrained by customers financing difficulties
rospatch earlier requested its stock be halted in over the counter trading last trade 24 1 8
hes a heavy hitter and he does not like to get pushed around said henderson
the oecd attributed the rise in consumer prices to the effects of the february 1986 drop in energy prices working their way out of the index
valley resources vr sets split raises payout
a handful of professional houses are targetting the weak paper shorting it aggressively and this is just starting the domino effect with basically sound paper also starting to roll with it a senior frn market source explained
dutch parliament offers little help in port row
it said in a statement the rise was mainly due to inflows of foreign currency through the exchange stabilisation fund which resulted in an increase of 1241 billion francs
each bond of 1000 francs nominal and six pct interest will carry three a warrants and three b warrants giving the right to subscribe to bull shares
fiber optic lines which send digital light impulses along microscopic glass lines is quicker more accurate and more economical than traditional copper cables
the value of trade between china and taiwan via hong kong fell 13 pct to 745 billion hk dlrs in 1986 from 859 billion dlrs in 1985 hong kongs census and statistics department said
the company has yet to set a date for the meeting but has said it will be held before the end of august
shr 3136 dlrs vs 2523 dlrs assets 2865 mln vs 2530 mln shrs out 9138526 vs 8839695 note latest assets after capital gain distributions of 50 cts a share in february 1987 and 83 cts a share in december 1986 and with 29955000 stated value 1676 dlr convertible preferred stock outstanding
baker and volcker say debt strategy will work
period ended february 28 shr 25 cts vs 25 cts net 6292000 vs 6340000 sales 970 mln vs 870 mln six mths shr 36 cts vs 28 cts net 9122000 vs 7053000 sales 1932 mln vs 1686 mln note 1986 period ended march one
corrected american variety international inc 
in the first quarter of 1986 mellon earned 604 mln dlrs or 213 dlrs a share
the bank of france said it cut its money market intervention rate to 7 3 4 pct from eight pct when it injected money against first category paper
it will be denominated in 10000 franc units and be listed in luxembourg
the fcc has approved the transaction but several parties have appealed
he said other beneficial effects would be to stabilize export commodity prices for developing countries by using a commodity basket as a guidepost for monetary policy
iran says us raid caused 500 mln dlrs damage
companies like dupont dd and monsanto co mtc spent the past two or three years trying to get out of the commodity chemical business in reaction to how badly the market had deteriorated dosher said
us dlrs
foreign business and securities trading turnover also increased
trade is the most urgent problem facing us canadian relations because of a pressing need to reach a new bilateral pact within the coming months joe clark canadian secretary of state for external affairs said
i think what we need is to debate this within the administration he said
dart has just under five pct of sgl shares
flyfaire with annual sales of 100 mln dlrs is engaged in the wholesale vacation travel business
dna said that when the transactions are approved by its shareholders it will issue additional shares of its common so that mize will own 80 pct of its issued and outstanding stock
south korean foreign trade minister rah woon bae said his countrys firms have agreed to buy 18 billion dlrs worth of us goods during his two week buying trip to the united states
the new agreement calls for synergen to set up a commercial manufacturing process to produce the drug and deliver quantities to ciba geigy in the second half 1987
as a result the banks net income for the first quarter will be reduced by about 40 mln dlrs
deposits by the private sector rose an unadjusted 11 billion stg in february and by a seasonally adjusted 175 billion stg
glickman offered a list of possibilities that his committee will study in order to cut farm spending
financial santa barbara fsb unit offers notes
implementation of a 0 92 program a tightening up of the use of commodity certificates and reconstitution of farms are possibilities that will be studied to reduce farm spending said dan glickman d kans chairman of the house agriculture subcommittee on wheat soybeans and feedgrains
us says no signal being sent by ship movements
malaysia raises palm oil export duties
naantali saudi red sea 30000 35000 mt barley 4000 3000 20 30 4 or early may
a government as a sovereign entity has dignity and prestige to maintain he said he had previously held that ecuador was obliged to make debt payments when crude oil was at 26 dlrs a barrel because the government had projected plans with crude prices at that level
icco buffer to buy 3000 tonnes cocoa june 3
for a small currency it was miraculous he said the bolivar which averaged 2029 to the us dollar in 1986 would continue to slip from its current range of 2835 to 2850 because the central bank was rapidly running out of foreign reserves to support the currency on the free market
the funds will be raised through the issue of up to 116 mln ordinary sedgwick shares to the vendors of bsi by no later than 31 january 1991
south korea plans to increase the size of its budget in 1988 by 11 to 12 pct from this years 15596 billion won economic planning board officials said
study predicts us dependence on foreign oil
washington national corp wnt votes dividend
permian basin pbt proven reserves fall
general motors acceptance corp canada is issuing a 100 mln canadian dlr eurobond due october 15 1992 paying 8 1 2 pct and priced at 101 1 2 pct lead manager union bank of switzerland securities ltd said
senior dealers at creditanstalt and girozentrale austrias two largest banks said they would have been aware of any national bank intervention
hostile takeovers are considered unethical and frowned upon by the japanese the trading company official says
brazil is a special case but theres no doubt they would not be in the mess theyre in if they had not screwed up their economic policy a senior official added
the lewiston bank which has been renamed first of america bank lewiston has assets of 549 mln dlrs
a finance ministry statement said the year on year differential between french and lower west german inflation rates calculated on the last three months had narrowed in february to two to 23 pct compared to 27 pct in january
export quotas were suspended in february 1986 when market prices surged because of the failure of the brazilian crop
in addition it minimized the risk to us forces and the potential embarrassment of any losses including aircraft that could have been shot down had they taken part in an attack
lilco also said its board authorized contracts for its corporate officers calling for payment of one years salary and continuation of insurance and retirement benefits if the company changes hands and these officers lose their jobs
its an absolutely ideal situation february us industrial production rose 05 pct slightly less than the 07 pct gain the financial markets had expected
switzerlands three major banks have offered argentina an extra 1105 mln swiss franc credit to help finance the building of a heavy water plant there by gebrueder sulzer ag sulzz union bank of switzerland ubs said
bank of zambia pays out foreign currency arrears
the cla would then report back to the commerce ministry which had requested the enquiry
but it had indicated that consideration would be given in due course to the cash clearing proposal made by amalgamated metal trading at a lme members meeting last week
dixons has 56 pct of cyclops corp
brazilian finance minister dilson funaro will extend his international tour flying to japan for talks with government officials and representatives of banks to explain brazils decision to halt payment of part of its 109 billion dlrs foreign debt finance ministry sources said
brazil the major producer insists on quotas based on a traditional formula
under the previous agreement between chrysler and renault their letter of intent would be terminated on april nine or when an agreement was reached
anything we do we will be bashed the senior official sounded pessimistic about the likelihood of prime minister yasuhiro nakasone defusing us anger over japanese trade practices when he visits washington on april 29
oreilly who declined to make a specific projection said the food company is stronger than at any time in its 118 year history last week heinz reported third quarter earnings rose to 55 cts a share from 46 cts a share
south africas new foreign debt agreement sparked a rally in local financial markets but bankers and economists said the pact only removes one source of anxiety from a still depressed economy
the joint committee of taiwans soybean importers will reopen a tender tomorrow for two shipments of 54000 to 66000 tonnes of us soybeans a committee spokesman told 
however the bank had been singled out for a much greater role under the us debt initiative proposed by treasury secretary james baker
tektronix tek begins dutch auction tender
a bill also was introduced by rep
as speculators detected the presence of the us and british central banks they acclerated their shift into canadian and australian dollars
taxes jumped 513 pct to 92 mln francs in 1986 from 61 mln the previous year
the bank of canada will buy a minimum of 100 mln dlrs of the new issue including five mln dlrs of the 2011 maturity
but if west germany raises interest rates this would run counter to the pledge he said
the amount of a convertible eurobond launched on friday for metal box plc mbxll has been increased to 65 mln stg from the original 60 mln and the coupon has been fixed at 5 3 4 pct swiss bank corp international ltd said as lead manager
the automaker will shut three plants each in its two groups the buick oldsmobile cadillac group and the chevrolet pontiac gm of canada group
other months will stay unchanged at 70000 except the new distant february requirement which will be set at 70000 from march 2
in addition to a tire manufacturing plant condere bought s
an adb spokeswoman said the us had voted for a 200 pct increase in the banks capital but other votes were still coming in
this is not a crash scenario but the dollars steeper angle of descent increases the risk of ending with a fireball rather than a three point landing the eiu said
mueller said in an article for the boersen zeitung financial daily that a monetary policy which took into account exchange rate expectations and capital flows could not be confused with an exchange rate oriented policy
a drop in argentine corn crop prospects could also affect soviet corn buying an agriculture department source said
a cut in the seven day repurchase rate could come as early as tomorrow morning banking sources said
shr loss three cts vs profit two cts net loss 54791 vs profit 28866 sales 1379810 vs 338886 avg shrs 1602717 vs 1331739
qtly div five pct stock vs five pct stock pay april 16 record april six
terms were not disclosed
the usda will have to bite the bullet one way or another usda can dodge and dart around it the soybean loan as much as they want but they have to eventually address this problem david haggard asa president told 
kaufman and broad inc kb 1st qtr feb 28 net
saudi is a reliable supplier in that sense said one trader
he said its not presidential lyng said
mco mco maxxam mxm holders approve merger
lawson said he did not think that the uk s relatively high level of real interest rates had hurt investment in britain
the average foreign brokerage now underwrites only around 007 pct of each such issues volume they told 
royal resources corp rrco 2nd qtr dec 31 loss
haiti allows importation of banned black pigs
the two countries approached armed confrontation last month after greece announced it planned oil exploration work in the aegean and turkey said it would also search for oil
amalgamated reported net income of 1065 dlrs per share or 697 mln dlrs on revenues of 3713 mln dlrs compared to a net loss of 700000 dlrs or 10 cts a share on revenues of 2547 mln dlrs last year
the budget gave civil servants a 20 pct pay rise with effect from july 1 to compensate for inflation of more than 30 pct
for its first six months ended december 31 the company earned 204 mln dlrs or 76 cts a share on sales of 4218 mln dlrs
this compares with a year earlier surplus of 9589 mln rand
as previously reported comalcos commonwealth aluminium corp unit has conditionally agreed to sell its smelter at goldendale washington and port facilities at portland oregon to columbia aluminium corp comalco said it had made a 273 mln dlr extraordinary provision for goldendale losses and closure costs but that if the sales agreement were completed it would reduce the provision made in the 1986 accounts
amoco an in natural gas find off trinidad
he told reporters the country deserved a higher quota in compensation for the five months it was forced to suspend oil production when its main pipeline was destroyed by an earthquake last march
in january he said edf may not issue more than 300 to 500 mln dlrs of paper this year
so its preferable they negotiate now a move which would eliminate any chance of panic in the markets
peru consumer prices rise 59 pct in may
the bma spokesman said the next tender for two mln dinars of 91 day bills will be held on april 14
pretax earnings fell 27 pct to 134 billion dlrs from 183 billion ibm said
southland slc unit raises crude 50 cts bbl
cbt february volume down 14 pct from year ago
for the first nine months of 1986 the company lost 9476000 dlrs on revenues of 454 mln dlrs compared with a 1784000 dlr profit after the early retirement gain on revenues of 385 mln dlrs
whether the soviet union will fulfill its buying obligations under the us ussr grains agreement depends entirely on the united states a soviet trade official told 
merrill lynch capital markets said it received a mandate from industrial equity ltd iel of australia to arrange a letter of credit facility in support of 100 mln dlrs of medium term notes and us commercial paper to be sold in the us domestic market
qtly div 445 cts vs 445 cts in prior qtr payable may one record april 10
the rally in oil prices this week came after prices fell in february more than two dlrs from its high of 1825 dlrs a barrel
it said it also told triton it may depending on market conditions acquire 50 pct or more and possibly 100 pct of the voting securities of triton it said it received clearance to buy up to 50 pct of the stock on september 11
japan buys large amount of brazilian soybeans
net profit 305 mln francs vs 258 mln
carrolton has 26 mln dlrs in assets
an indonesian ministry of trade official said this was incorrect
an advertisement placed in the newspapers by the shipowners association read the seamens strike is illegal irrational and unpatriotic the seamen respond that they cannot live on their present salaries
the feds report did not say at what level the intervention occurred
the eiu said in its world trade forecast it revised oecd economic growth downwards to 25 pct this year compared with a 28 pct growth forecast in december
the merger involves shareholders in progressive and rainbow both receiving shares in a new company astral pacific corp ltd on a one for one exchange basis
the report which will focus on the cost of certificates compared to cash is scheduled to be released in mid march
note company floated in april 1986 and is now 5023 pct owned by swire pacific ltd swpchk 1643 pct by hongkong and shanghai banking corp hkbhhk and 125 pct by china international trust and investment corp
southlife holding co slhc 4th qtr net
sterling in texas gas and oil discovery
philippines ongpin optimistic on debt talks
mentor specializes in public sector accounting systems
very little physical business is now done in 9950 pct purity metal nearly all of which is produced in eastern bloc countries such as romania
the us and brazil the largest coffee importer and exporter respectively each laid the blame on the other for the breakdown of the talks
greyhound lines will go forward with the transaction only if it is permitted to assume immediate unconditional control of trailways operations and to integrate them with its operations greyhound said in a filing with the icc the federal regulatory agency which has the final say over mergers of interstate bus companies
us intervened to aid dlr in january fed says
the company said it agreed that none of its costs for palo verde unit three will be included in its new mexico rates
among the main factors maturing assistance and take up of treasury bills will drain 546 mln stg bills for repurchase by the market 76 mln a rise in note circulation 310 mln and bankers balances below target 105 mln
a foreign agricultural expert forecast a drop in cane acreage in 1986 87 september august of up to 10 pct in guangdong which produced 45 pct of chinas sugar in calendar 1985 and a smaller drop in fujian which produced 11 pct of chinas sugar in calendar 1985
shr 47 cts vs 31 cts net 4757000 vs 2466000 revs 328 mln vs 335 mln avg shrs 12638000 vs 8941000
shr loss 29 cts vs profit eight cts net loss 20 mln vs profit 568000 year shr loss 137 dlrs vs profit 88 cts net loss 93 mln vs profit 60 mln
turkey said today its disputes with greece including rights on the continental shelf in the aegean sea should be solved through negotiations
south korea has a five billion dlr trade deficit with japan
roy f weston inc said it filed with the securitites and exchange commission a registration statement covering a 30 mln dlr issue of convertible subordinated debentures due 2002
that government stock disappeared very quickly indeed said stephen lewis head of economic research at stockbrokers phillips and drew it is an indication that the market believes rates are going to fall further at least by a half point immediately after the budget on march 17 and some people hope for more stockbrokers james capel said in a comment the move by the national savings department was of considerable significance it said the real message is that the decks are being quickly cleared so as to facilitate a speedy decision by the building societies to cut their rates when the inevitable cut in bank base rates to 10 pct materialises building societies have said a drop in bank base rates would normally have to exceed half a point to give rise to a reduction in mortgage lending rates
willis already owns 205 mln shares or 462 pct and has received acceptances from stewarts directors for a further 247469 shares
short dated saudi riyal rates firm in quiet market
greece has repeatedly said the issue was legal and could be solved at the international court of justice
shr nine cts vs six cts net 3500000 vs 2500000 revs 2940 mln vs 3515 mln note 1986 year includes tax gain of 1700000 dlrs
the deficit can be better attributed to premature and delayed foreign trade payments and receipts leads and lags rather than capital outflow to portfolio investment sarcinelli said in a statement
paul mlotok oil analyst for salomon brothers inc said that even with the rise in prices for the last week or two weve only altered our average price scenerio to about 1750 dlrs for the year analysts said that at that price renewed drilling and exploration to reverse the decline in us crude oil output will not take place as the companies are waiting for stable prices over 20 dlrs to renew exploration
baker said the us increase would account for 70 pct of the banks useable financial resources
this compares with a 380 dlr cash element in csrs proposed bid
the federal open market committee at its february 10 11 meeting voted nine to one to maintain the then existing degree of reserve restraint minutes showed
colgate palmolive co cl sets quarterly
but the bank nearly trebled the amount set aside against bad and doubtful loans to 60 mln riyals from 22 mln in 1985
baldrige referring to the us japan trade agreement on semiconductors said their government wants to live up to it
martin lawrence limited editions mlle year net
official figures show the reserves at 10514 billion dlrs at end 1986 down from 119 billion at end 1985
the farm ministry said a december survey is still valid and plantings should be cut slightly after being trimmed by just under four pct in 1986 when yields were above average
he said as a transition to the higher prices he would allow livestock producers to purchase commodity credit corp
bank of new england corp is offering 200 mln dlrs of subordinated capital notes due 1999 yielding 886 pct said lead manager morgan stanley and co inc
may department stores co said it terminated an agreement with allied stores corp to buy from allied the four dey brothers stores in syracuse ny may and allied said conditions necessary for the closing were not met
city savings bank of meriden csbmo 3rd qtr
foreign debtors accounted for 24 pct of this credit volume and latin american debtors accounted for 147 pct of total lending to foreigners
it may be a shame but we are locked into this said dan glickman d kans chairman of the subcommittee on wheat soybeans and feed grains
1985 revenues na because 1986 was initial year of product revenue
cramer inc crmr 4th qtr loss
reserves were reported to have dropped below four billion dlrs
corn acres totalled only 6022 mln in 1983 when the pik program was introduced
the officials met at the offices of the international monetary fund imf to discuss broad aspects of world monetary policy in preparation for the imfs interim committee meeting in washington in april
pre tax profit 506 mln stg vs 452 mln making 151 billion stg vs 135 billion
brazil is the worlds largest coffee producer and exporter
however moodys noted that the combined company would benefit from cost reductions and consolidations made possible by the merger
the surviving company will be known as owen illinois inc it said
closing of the deal is expected by may
japan opens home market to us fish
s and p said the action reflected several positive factors which emerged over the past year including a better balance of supply and demand in the chemical industry
under the same circumstances in the new pact the reference price would be automatically revised by five pct unless the council decides on a higher percentage
it said the condoms are currently sold in spain but have not gone on sale in other european countries
a spokesman for the assay offices of great britain said he was particularly encouraged to see the percentage increase for british manufactured goods
burlington lawyers also contended that burlington as the largest manufacturer of denim in the united states would be in violation of anti trust laws if it acquired dominion canadas largest textile maker
the company said it made the transaction without suffering a loss
he said bolivias commercial bank steering committee agreed at a meeting in new york to consider the proposal but it is still unclear what proportion of the countrys creditor banks will take up the offer
the newspaper gave no other details
amr declined to go into detail on financing arrangements for its order of 15 boeing co ba and 25 airbus industrie twinjet long distance aircraft
ault inc ault 3rd qtr march one net
kloeckner werke ag klkgf should have turnover this year around 1985 86s 24 billion marks though more growth is likely in engineering in coming years management board chairman herbert gienow said
loctite loc sees better than expected net
iraq says it hit ship in gulf off iran today
proceeds will be used to reduce outstanding bank debt under the companys revolving credit agreement fieldcrest cannon said
he added that the document seemed entirely credible
the barley has a 14 pct humidity
payment to open reserves 20 mln marks vs 20 mln
shr 146 dlrs vs 141 dlrs net 2775 mln vs 2683 mln sales 213 billion vs 214 billion avg shrs 1898 mln vs 1898 mln nine mths shr 395 dlrs vs 378 dlrs net 7505 mln vs 7184 mln sales 628 billion vs 622 billion avg shrs 1899 mln vs 1902 mln
a national seamens strike however continued and marines remained in the countrys main ports
in a statement the association said the parties had disagreed over economic sanctions
new york based upland is traded over the counter
swedish tyres process equipment and components firm trelleborg ab has taken a majority stake in boliden since the beginning of this year
strata corp said its 1986 earnings report contained a qualified opinion from its independent auditors
he said bass pushed for sale of the independent television stations because the company paid too much
the federal reserve was detected buying dollars for yen in the open market as the dollar fell to a 40 year low of 14460 yen in nervous late morning trading currency dealers said
high real interest rates were attracting an influx of speculative foreign capital which was undercutting the governments target for monetary growth cuevas said
fed funds opened at 5 15 16 pct and remained at that level
shr one ct vs 21 cts net 24000 vs 612000 sales 2061000 vs 3914000 1st half shr eight cts vs 43 cts net 223000 vs 1220000 sales 4584000 vs 7912000
okada expects the dollar to trade between 148 and 150 yen this week but sees the chance of a drop to 140 yen by the end of april or early may
the offer for the 45 pct of standard shares not owned by bp had been due to expire midnight april 28
pacific gas and electric co said it expects to record a 470 mln dlr or 125 dlr per share reduction in 1987 earnings because of the companys decision to change the method used to record diablo canyon nuclear power plant revenues
the soviet union which was to take 400000 tonnes later agreed to take the full production
they put crude oil exports through yanbu at 100000 bpd last month compared to zero in january while throughput at bahrains refinery and neutral zone production remained steady at around 200000 bpd each
it can be presumed that the braking actions on the economy will diminish markedly this year they added the domestic prerequisites for a continuation of the economic uptrend are still favourable these three institutes said diminishing external burdens combined with favourable domestic conditions meant an upturn in demand and production could be expected by the spring
the firms properties consist mainly of the taikoo shing residential development and two luxury housing projects
the construction bank which is one of four specialist banks in china focuses on infrastructure and heavy industrial projects
hughes supply hug to make acquisition
this left out income from state reserves usually excluded in official budget accounting which are forecast by bankers at up to 10 billion dinars in 1986 87 resulting in some shortfall
cassa di risparmio di roma launching cd program
the waiver is part of domestic us agricultural policy part of our law when we joined the gatt we have agreed to put the waiver on the table during the uruguay round and invite other countries to do the same with their programs
the sanctions will end all military cooperation and cut economic aid
the administration has strongly urged that the bill be expanded to feedgrains and to more than one year
its not a taboo peter pietsch spokesman for commerzbank ag said
the new loan will enable punta to pay off 104 mln dlrs of indebtedness to another lender and provide it with working capital
neyra said since late 1986 peru had sought an accomodation with the world bank under which it would receive more credits than it would remit in repayments
the un program approved last year calls for 128 billion dlrs of economic investment in africa over five years
in addition the company said it plans to offer to exchange one dlr principal amount of 13 pct debentures due september 1 1997 for each outstanding one dlr principal amount of 8 1 4 pct debentures
ecuador squeezed by the slide in world oil prices in 1986 had only 138 mln dlrs in net international reserves at the end of january about equal to one months imports
canadian bonds closed slightly lower on market jitters amplified by rumors that a big holder of domestic bonds was selling early in the day dealers said
the move by the knut and alice wallenberg foundation one of the institutions at the core of the group of companies formed by the late industrialist marcus wallenberg further consolidated group control over one of its key firms analysts said
the prudential bache energy growth fund is a publicly owned limited partnership formed in february 1987
the dollar ended in new york yesterday at 14715 25 yen its lowest level against the japanese currency in roughly 40 years
they unit has been accounted for as a discontinued operation
it did not say whether only opec or both opec and other producers were behind the reported rise in mideast output
cathay added new planes and was forced to fly some routes last year because of the threat of competition from dragon air said tsang
teeco properties lp said the partnership recorded income from operations for 1986 of 140000 dlrs or two cts a unit
5300 is a delaware corporation formed by american seaways foods inc rini holding co and rego companies which owns 15 mln shares of fisher or about 44 pct of its outstanding common stock
the rate was up from 568 pct at the last auction of one year bills on march 12
orbit oil and gas ltd orbto 1st qtr net
the money will help to enlarge a factory which produces data processing equipment in the piedmont region
the deal has an investor put option after five years which will be priced to give the investor an annual yield to the put of 8 3 4 to nine pct
delors quoted favouring franco german bid for cgct
security spc users end merger talks
american stores co 4th qtr shr 157 dlrs vs 160 dlrs
they are a potent political force the diplomatic source said
it said clopsing is expected around april 30 subject to approval by tri states board and shareholders
it said that underwriters mcleod young weir ltd and wood gundy inc agreed to acquire the issue at 25568 dlrs a share with yield to retraction on october 15 1991 of 7 1 8 pct a year
sarney told the meeting an austerity plan to trim government spending would be introduced
the new rate is 105 pct apr annual percentage rate 112 pct including fees for normal repayment mortgages and 111 pct including fees for endowment and pension mortgages a spokesman for nat west said the position for existing mortgages is being kept under active review in the light of market conditions and an announcement will be made as soon as possible
each warrant is for a nominal amount of 1000 marks and the minimum purchase will be for 100 warrants
in a filing with the securities and exchange commission the group said it sold a net 31858 shares of rospatch common stock between february 2 and march 31 at prices ranging from 2150 to 2513 dlrs a share
new applications for unemployment insurance benefits rose to a seasonally adjusted 340000 in the week ended june 6 from 310000 in the prior week the labor department said
the durable manufacturing materials index edged down 01 pct last month after jumping 10 pct in january as prices for steel precious metals and copper stabilized
santa anita cos sar 4th qtr net
many delegations feel the commissions report is rather too pessimistic said belgian finance minister mark eyskens who chaired the meeting
parsow partnership ltd an elkhorn neb investment partnership said it bought a 51 pct stake in orange co inc common stock as an investment
the turkish central bank set a lira dollar rate for march 10 of 77305 77692 to the dollar down from the previous 76960 77345
this is in line with the governments policy to limit our trade surplus with the united states to help reduce trade friction between the two countries the official said
canadian narrowly defined money supply m 1 fell 430 mln dlrs to 3565 billion dlrs in week ended june 10 bank of canada said
sico inc said it agreed in principle to buy the us assets of reichold chemicals incs sterling group which manufactures electrical insulation compounds and industrial resins and develops coatings for the electronics industry
its very difficult for anyone to know which way the debt problem is going and with volcker out of the picture it just adds to the uncertainty one banker said
under the present agreement if the daily market indicator price has been above the upper intervention may sell price currently 231 malaysian singapore cents or below the lower intervention price may buy price 171 cents at present for six months the reference price is then revised by five pct or whatever amount the international natural rubber council decides
italian consumer prices rise 04 pct in march
the debentures have a 9 1 8 pct coupon and were priced at 9890 to yield 117 basis points over comparable treasury securities
employment in the non manufacturing sector will continue to increase the institute said without giving figures
the uk clearing banks swiftly took this up cutting their base rates by a half point to 10 pct
officials said a colony of the black and amber coloured beetles can destroy a potato field in a day
japanese finance minister kiichi miyazawa fuelled speculation about the amount of fluctuation the authorities are prepared to tolerate by saying that the current yen level is still inside the range agreed on in paris in late february
bat said in 1986 it had sold 88 batus stores in the us for 644 mln dlrs and sold grovewood securities for 142 mln stg
one dealer estimated that the bank bought 400 mln to 500 mln dlrs as it tried to keep the us currency above 149 yen
but traders said the rumors today did not name buyers
geodyne resources said a registration related to the stock to be exchanged for snyder has been filed with the sec but has not yet become effective
net unilateral transfers during the fourth quarter last year covering foreign aid and government pensions were down to 39 billion dlrs from 42 billion dlrs in the third quarter because of fewer us government grants to mideast countries
brown forman bfd files 200 mln dlr debt offer
although about two thirds of britains trade is conducted with european countries sterling has traditionally shadowed the dollar rather than the mark analysts noted
it will not give any short term relief for debt ridden countries but it will make a difference in 10 to 15 years
epitope inc epto 1st qtr dec 31 loss
banca monte di parma issuing eurocertificates
the designation of ciba vision as an independent operating group underscores ciba geigys anticipation of continued growth macdonald told a group of reporters
terms were undisclosed
tom harkin d iowa sponsor of the bill told he did not intend to offer his measure as a floor amendment but to bring it through the committee
it is more than was talked about when prime minister yasuhiro nakasone was here
petro canadas posted price for the benchmark light sweet grade edmonton swann hills at 40 api gravity now stands at 2195 canadian dlrs bbl
a us embassy report on saudi arabia published just before the budget said while industrialisation has continued to be one of the governments highest priorities the recession the payments problem and the lack of financing have reduced saudi and foreign investor interest in industry it is the lack of fresh investment that is expected to be a major issue among the businessmen gathered here
it would be nice if the saudis would go more public but its their real estate said the official who asked not to be named
qtrly div 175 cts vs 175 cts prior pay april 20 record april 2
reserves of the donalda number two deposit located 1000 feet below the number one deposit were recalculated at 300000 tons with an average grade of 033 ounces of gold per ton
it reported that its competitive position had weakened considerably in the second half of 1986 leading to a seven pct cut in steel output over the whole of the year to 374 mln tonnes
ohio art co oar sets quarterly
nzi is an insurance company in new zealand
as long as the foundations stake in wurlitzer is below five pct it is not required to report further dealings it has in the companys common stock
iran has test fired its newly acquired silkworm anti shipping missile in the strait of hormuz and has set up at least two land based launching sites in the area a british naval source in the gulf said
brown inc said it has declared a three for two stock split payable may 29 record may 22
the market also seemed to have overestimated the amount of sterling the bank of england bought at the end of may to smooth the pounds sudden downturn while some of the intervention reported in may probably occurred in april they said
officials of both companies estimated their combined efforts could produce originations of 800 mln dlrs and a loan servicing portfolio well over 20 billion dlrs by yearend
the restructuring was announced in december after carter hawley rejected a buy out offer by retail partners
the seven year bond pays 11 pct and is being issued at 101 of par payment date is may 20
commercial credit co is raising 150 mln dlrs through an offering of notes due 1997 yielding 8217 pct said lead manager morgan stanley and co inc
creditanstalt bankverein cabvv year 1986
syntech interenational inc syne 4th qtr net
at a meeting of ec foreign ministers britain called for a full debate on a proposed tax on edible oils and fats that has already angered ec consumer groups and unleashed washington led protests from exporters to the ec diplomats said
stanline inc stan regular dividend
federal funds which averaged a high 635 pct on friday opened at 6 7 16 pct and traded between there and 6 1 2 pct
sec probes 1986 tre tre takeover attempt
payment will be due on june 1
national semiconductor nsm cites improved results
local and foreign bankers said the june 2 measures had drastically limited their ability to lend foreign exchange to importers and exporters
jeffrey leeds of chemical bank agreed that the economys health would remain the main influence on policy but contrary to di clemente he said that recent signs of faster growth and inflation could lead to higher rates first
investors increase stake in frost sullivan
due to certain covenants under the companys 10 3 4 pct subordinated debentures the value rights redemption is contingent upon the success of the units offering it said
the sugar is being sought for early arrival and will probably be met with april may shipment sugar they added
heyman owns about 2700000 of gafs 335 mln shares outstanding
deposits by non bank customers rose to 3381 billion dlrs against 3360 billion and 2802 billion
drought threat eases in south china province
he said it would take four or five months to bring operations up to full capacity if the company decides to do so adding that he believes there is a good chance noranda will fully reopen the mine
brazilian delegate lindenberg sette said that if quota negotiations were to resume the 10 mln bag shortfall brazil was willing to give up in early march if the producer proposal was accepted would no longer be on the table
last december daiwa and nomura were named primary dealers by the federal reserve along with lf rothschild unterberg towbin inc and security pacific national bank
ongpin acknowledged there was a dispute over tactics
commerce secretary malcolm baldrige has asked the white house to consider blocking the planned japanese acquisition of a major us computer and semiconductor maker us officials said yesterday
proceeds estimated at 486 mln dlrs will be used to repay about 254 mln dlrs of bank debt with the remainder added to working capital continental said
fed chairman paul volcker told a congressional committee last thursday that the feds policy has been unchanged up to today although volckers statement last thursday allayed most fears that the fed had marginally tightened its grip on reserves to help an ailing dollar many economists still wanted confirmation of a steady policy in todays data which covered the two week bank statement period ended yesterday
earlier consul said it would exchange 174912 shares of convertible preferred stock for 175 mln dlrs of outstanding 13 pct debentures
thailands foreign reserves of gold special drawing rights and convertible currencies fell to 386 billion dlrs at end february from 395 billion the previous month but were above the 308 billion held at the same time last year the bank of thailand said
but ultramar said the funds would ultimately be used for further development of its core businesses in the uk and north america
the deficit in 1986 was 952 mln ringgit
fed may supply reserves in the money markets
he also refused to say which side was to blame for the renewed confrontation saying washington was still trying to ascertain all the facts as prime minister andreas papanderou said greece was prepared to tackle any aggressor
if and when it becomes necessary the government will be ready to take any necessary economic and political initiatives as it has in the past simonsen said
yugoslavias balance of payments surplus with the convertible currency area fell to 245 mln dlrs in 1986 from 344 mln in 1985
moodys said it assigned a aa2 rating to toyota motor credit cos 23 billion yen of 4 1 2 pct euroyen bonds due 1992
club mediterranee cmipa year ended october 31
februarys weather is usually more adverse for home building
dealers said that the form of the reporting has not yet been spelled out
the company said the sale satisfied a condition for its proposed acquisition by an investor group led by citicorp cci
but in an address to a conference of the indonesian petroleum association he said if worst comes to worst and say the flow of oil through the straits of hormuz is completely shut off i believe the world oil supply given time to adjust can take care of the situation but this is not to say that prices at least for a short duration will not skyrocket as speculators take advantage of the situation he declared
other products include a recorder device which allows students to leave taped messages in each others school lockers retailing for about 60 dlrs
bilzerian last week said he was considering raising his stake in the company seeking a board seat or control
goodyear tire to receive 588 mln dlrs for goodyear aerospace from loral corp
in anacomps fiscal 1986 it earned 4073000 dlrs or 13 cts a share
treasury secretary james baker said the administration backs the federal savings and loan insurance corp fslic recapitalization bill approved by the house banking committee and opposes the senate passed version
house of fabrics inc hf 4th qtr jan 31 net
singapore external trade gains 88 pct in quarter
marin said the rains would only affect the coffee crop if they continued through to next month when harvesting starts
they were also uncertain whether the fed intervened on its own account or if it executed orders for the bank of japan
gordon to make bid to acquire pagecorp pgoato 
canadas ruling in favor of a duty on us corn was a keen disappointment to the national corn growers association and has set a dangerous precedent for other nations to follow said mike hall lobbyist for the association
washingtons deficit with taipei rose to a record 136 billion us dlrs last year from 102 billion in 1985
fortune forf to acquire marine savings
the well also flows natural gas at the rate of 12 mln standard cubic feet a day he added
as a result banks will be forced to provide fund management services for major clients seeking better returns he said
the legislation has already passed the house of representatives and recently passed the senate finance committee
the company said the group indicated to it that it had no hostile takeover intent toward ameritrust and that the purchase was for investment purposes
italian interior home markets have been active in recent weeks and traders said around 200000 tonnes have traded between dealers and home consumers
the pentagon as is its custom declined to confirm the exact whereabouts of the ships or what they were up to
thermo process systems inc said its proposed acquisition of the surface combustion division of privately held midland ross corp has been terminated because mutually satisfactory terms could not be established
ec sugar import levies
however top ldp executives will work out figures so that abe will be able to offer specifics to us officials
the bank of england said it had given the money market 206 mln stg of assistance this afternoon and offered the discount houses borrowing facilities to take out the rest of the 110 billion stg shortage revised down from an initial 115 billion estimate
nixdorf computer ag nixgf said its supervisory board has appointed sven kado to the new position of deputy member of the managing board increasing the number of board members to seven
mexico recieves first 250 mln dlrs of japan loan
zimbabwes projected coffee output of 13000 tonnes for 1987 88 could be reduced by drought growers said
a 600 mln franc tranche of 5000 franc bonds will carry interest of nine pct in the first year and then will have interest based on 90 pct of average bond market yields tmo with a guaranteed minimum of 55 pct
pre tax profit 1059 mln stg vs 796 mln
the administrations plan to spin off the departments uranium enrichment operation is in line with it effort to reduce the federal governments role in areas where it feels private enterprise could be more efficient
excellent weather characterised by alternating periods of sunshine and rain has encouraged growth except in sardinia which was expected to lose a large part of its barley crop because of extreme dryness
in accordance with article 51 of the united nations charter i wish on behalf of my government to report that united states forces have exercised the inherent right of self defense under internation law by taking defensive action in response to attacks by iran against united states vessels in the gulf walters said
periquet said the question of political stability no longer worried filipino businessmen who had already started expanding existing businesses or investing in new areas
shr 142 dlrs vs 161 dlrs net 136 mln vs 155 mln note net asset value per share 7772 dlrs vs 5435 dlrs
mills consumed 29600 tons of refinery shapes in january versus 24000 tons in december
it said it plans to finance its stock purchases with borrowings from chemical bank morgan guaranty trust co of new york bankers trust co and salomon brothers holding co inc the parent of salmon brothers inc emerys financial advisor
the issue is guaranteed by parent company landesbank rheinland pfalz girozentrale which is jointly owned by the west german state of rheinland pfalz and local savings banks
net profit 510000 vs loss 5700000 revs 875000 vs 4100000 year net profit 871000 vs loss 4100000 revs 4700000 vs 141 mln
31 1982 not already owned by aegon
the current management will remain in place and the unit will continue at its locations in wrexham uk the company said
but the government has ruled out a price rise
ltv ltv wins 185 mln dlr pakistan order
opec oil exports are priced in us dollars and the dollar has fallen about 30 pct in the last 18 months
three months was quoted at 313 stg at midsession
shr 85 cts vs 24 cts net 2381000 vs 754000 revs 353 mln vs 326 mln avg shrs 2777620 vs 3161603 six mths shr 135 dlrs vs 44 cts net 3756000 vs 1388000 revs 658 mln vs 643 mln avg shrs 2777620 vs 3161603
the spokesman could not say when this might be but trade sources said an announcement could come at the end of the week opening registraions from monday
the spokesman said that if the agreement is renewed bolivia can expect a further 60 mln dlr stand by loan over the next 12 months
management board joint spokesman alfred herrhausen said deutsches total debt exposure to problem countries had fallen to over six billion marks in 1986 from 74 billion in 1985 because of the fall in the dollar
international fine foods inc said it has acquired 2001 distributors inc of west babylon ny for 875000 common shares plus contingent shares based on future earnings
but it said it still believes a twa usair combination would create certain synergies that would be mutually beneficial to both carriers twa stressed that it reserved the right to revive its takeover attempt and said it may continue to explore the feasibility and strategies of gaining control of usair
uk money market gets 350 mln stg afternoon help
the report showed march 1 stocks of 14 billion bushels of soybeans 83 billion bushels of corn and 23 billion bushels of wheat all below trade guesses
senior delegates pessimistic on ico talks
amoskeag bank shares inc said the new hampshire supreme court overturned its proposed acquisition of portsmouth savings bank in a three two vote
south korea plans to import about 387000 tonnes of cotton this year compared to 225000 tonnes in 1986 trade ministry officials said
many sectors of the trade including large roasters and importers are adamant against voluntary compliance because of the past which was subject to tremendous irregularities as it became a matter of the trade monitoring each other one analyst said
us senate panel votes to limit county loan rate changes starting with 1988 crops
monfort is an integrated beef and lamb producer
president reagan who strongly supported the uruguay trade round to promote freer trade has said washington will impose tariffs against japanese electronic goods
proposed government regulations to allow canadian banks trusts insurance and securities dealers full participation in one anothers actitivies will mean more domestic competition for royal trust but not drastically more cornelissen said
but officials at bank of tokyo said the spread is intended to compensate for the lack of liquidity and for the uncertainty currently associated with owning dollar securities
chinese crops hit by frost snow and rain in march
claremont to boost champion products ch stake
national entertainment corp nent 3rd qtr net
booker plc bokll 1986 year
it said nippon will contribute an initial investment of more than 100 mln dlrs
as a result call money soared in active trading to around the lombard rate of five pct from 370 80 pct yesterday as banks found themselves short of minimum reserve funds
westpac said in a statement the increase reflects high costs of funding
it said due to protracted negotiations with first national several american variety divisions were inoperative in 1986
this might be a determining factor in todays result they added
herrington also said he believed president reagan who requested the comprehensive national security study was committed to some action to help the ailing us oil industry
the fed may be lowering its own inflation expectations today said robert brusca of nikko securities international
holiday corp said the new jersey casino control commission has approved its recapitalization plan providing the final regulatory approval needed
the channel ferry herald of free enterprise from the british townsend thorensen company was sinking off the belgian coast tonight with 463 people on board the dutch newsagency anp reported today
that recommendation echoes calls made recently at secret meetings of the international monetary funds executive board
the government is also proposing a novel solution to its debt to commercial banks some 900 mln dlrs on which interest has not been paid since march 1984
prescott ball and turben co managed the deal
economists said the fact that money stock growth remained stable last month was a success
no interest will accrue or will be payable on the debentures starting may 18 the computer and communications company said
bankamerica said however that it expects to report a profit for the first quarter of 1987
antonio ortiz mena president of the inter american development bank warned that if latin countries were unable to speed up their economic growth then in the long run there would be a default
cable news network is owned by turner broadcasting system tbs
bundey wmc said in a statement it said the open pit mine with a conventional leach treatment plant is expected to produce about 50000 ounces of gold in its first year of production from mid 1988
hemotec inc hemo 4th qtr net
he denied a suggestion by a dealer at one vienna bank that the national bank had sold marks to support the us currency
he said the treasury expected a current account balance of payments deficit in 1987 of 25 billion stg after a 11 billion shortfall in 1986
it said a preliminary survey showed the region could hold billions of barrels of oil and gas and that its potential as an energy resource would never be known without exploration
the energy department said it reached proposed oil pricing settlements totaling 680150 dlrs with the operator and four working interest owners of ad leblanc no
i think that what brazil is calling for limiting its debt payments to two and one half pct of gnp is a responsible request on their part economist martin feldstein said at a weekend news conference
us trade representative clayton yeutter said he was almost sure japan would not retaliate against tariffs president reagan slapped on 300 mln dlrs of japanese electronic goods today
the fed said that business loans including acceptances increased 484 mln dlrs to 281546 billion dlrs
care enterprises cre 4th qtr loss
bfg posted extraordinary earnings from the sale of 2501 pct of volksfuersorge deutsche lebensversicherung ag 749 pct of bsv bank fuer sparanlagen und vermoegensbildung ag and five pct of allgemeine hypothekenbank ag the sale was linked to ambs acquisition of a majority of bfg
both ships were hit in the territorial waters of kuwait a key backer of iraq in its war with iran
swedish unemployment down as data is revised
the cutback will also help malaysia maintain prices as there is concern some buyers want to reduce term purchases due to the availability of cheaper alternatives the sources said
a strong yen would make japanese goods more expensive on world markets while making imports into the country cheaper
elders resources issue to raise 161 mln dlrs
the minister said the ec commissions new farm trade paper will recognise the heavy financial burdens imposed by its common agricultural policy and its future expansion
gynex gynxu recalling oral contraceptives
the locals bargaining committees are expected to meet and prepare for the reopening of negotiations with cominco he said
gencorp said it could distribute the rights certificates to shareholders 10 to 30 days after the march 18 acquisition offer was made
the new constitution does not allow military men to hold positions in civilian agencies
hernandez said the increase had come from a new accounting system which included the results of pdvsas overseas refining and marketing operations
negotiations for a new inra to succeed the present one which runs out next october began nearly two years ago
complaints about the inaction of the buffer stock manager are not confined to west african producers they observed
the committee will draft a budget which its chairman sen lawton chiles a florida democrat said he hopes would raise at least 18 billion dlrs in revenues or about half the minimum 36 billion dlr deficit reduction he has in mind
latest nine month results include one time charge of 109 dlrs share relating to us sprint
american international group aig qtly div
cocaine although illegal is bolivias largest export
with a record us trade deficit of 169 billion dlrs last year and a farm economy in the doldrums congress is pressing to hold back us funds for the world bank and other development banks if the money is used to subsidize production or to produce goods already in oversupply around the world
haiti and czechoslovakia have joined the international cocoa organization icco bringing membership in the united nations charter body to 18 importing countries and 17 exporters icco officials said
the acquisition was made through bps wholly owned subsidiary bp america inc bp took a 25 pct stake in standard in 1970 raising its stake to 53 pct in 1978 and 55 pct in 1984
its montreal plant would provide ethylene as a raw material for the project
the company said it believes many of the claims are overstated or without merit
reports of the us japanese intervention operation and talk of an upcoming meeting of the major industrial countries encouraged expectations for broader cooperation on exchange rate and economic policy matters the fed said
uk intervention bd says ec sold 118350 tonnes white sugar at rebate 46496 ecus
waste management also said it amended its offer to provide that the tender offer price will not be reduced by chemlawns 10 cts a share dividend payable to holders of record april 1 1987
british telecom 3rd qtr ended dec 31
the stauffer sale prospectus has been sent in recent weeks to a number of companies expressing interest
excluding unusual items it said restaurants operating profit was down in the quarter 12 pct from a year ago as sales rose four pct
we favor shortening the disclosure period to two days shad told members of the house telecommunications and finance subcommittee when asked for his recommendation
japan is expected to post a 36 pct rise in real gross national product in 1987 88 higher than the official 35 pct target a private economic institute said
other primes range from 1625 to 175 pct
meatpackers reject occidental oxy unit offer
prior year net both periods excludes gain 1998000 dlrs from reversion of overfunded pension plans
1985 4th qtr includes loss of 35 mln dlrs for discontinued operations
the gdp deflator based on expenditure at market prices rose 12 pct in the fourth quarter from the third to give a 24 pct rise over fourth quarter 1985
universal said its universal furniture industries nv unit bought 235750 bench craft shares march 4 in the over the counter market
it granted 25 of the officials a severance payment of just under three times their annual compensation if they are fired after a takeover
one japanese refiner said at the moment theres a lot of pressure on opec particularly on qatar
finance minister chrispus kiyonga said last month that most of the one billion dlrs would go towards rehabilitating industries repairing and maintaining roads and buying tractors and other agricultural needs
rain was reported across parts of minnesota iowa eastern kansas missouri and eastern oklahoma with showers and a few thundershowers extending from arkansas through the lower mississippi valley to alabama and northwest florida
political leaders have said the budget will not hurt ordinary people as taxes on basic food and other essential goods are unlikely to change
a 10 percentage point reduction in the australian governments maximum crude oil levy on old oil would stabilize bass straits oil output resources analyst ian story said here
aramco responsible for all saudi production except about 200000 barrels per day bpd in the neutral zone between saudi arabia and kuwait increased production to 469 mln barrels per day in 1986 from 304 mln barrels a year earlier
a spokesman said this means telecom will decide before the 16th whether or not to accept the proposed change
shr 32 cts vs not given net 1041000 vs 43000 nine mths shr 109 dlrs vs not given net 3586000 vs 764000 note company went public in october 1986
we will have further comment when it is appropriate
the previous state loan a 625 pct issue due 1998 2002 last month raised a mere 300 mln guilders
fed expected to add reserves
group net profit 30 mln marks vs 35 mln
i dont think the louvre is dead because if it breaks up in an acrimonious way the potential outcome is a rout of the dollar higher interest rates and collapsing stock markets
schlumberger slb ends pact to sell fairchild
proposals to buy the other major part of the alaska power administration the eklutna project was expected to be issued in early june it said
he said the takeover fits into the companys drive for expansion in the us and canada and further acquisitions are possible
pickens is 58
the officials said the tariff cuts would contribute to holding wholesale and consumer price rises at less than three pct this year
but the company stressed in a filing with the securities and exchange commission that it believes it is too soon to reclassify the debt despite brazils feb 20 suspension of direct interest payments on medium and long term loans
chemlawn corp said it has asked potential purchasers of the company to submit their proposals by 1700 est on march 18
some 257 billion dlrs in bids for six month bills were received including 785 mln dlrs in non competitives
cambridge sells 100 mln dlrs of debentures
the belgian governments new 150 billion franc eight pct loan has been priced at par a finance ministry spokesman said
merx has since withdrawn from the oil market
the country has set its export target for the year at 11 billion us dlrs against imports of 1805 billion dlrs compared with 1986 7s one billion dlrs of export earnings and 1113 billion dlrs of imports
at midnight yesterday 7242117 princeville shares had been tendered up from 5887165 shares 24 hours earlier
public comments by fed officials suggest the central bank is keeping credit conditions broadly unchanged but if the major economies continue to show sluggish growth and the us trade deficit remains stubbornly high further coordinated action could be on the april agenda
in a speech to the institute of contempory german affairs here poehl said it would be an extremely risky policy to aim for a further substantial decline in the value of the dollar to correct the trade deficit he said the united states could face a vicious circle of depreciation inflation and more depreciation if it took that route
i think someone else will probably come in or they mts will have to raise their bid said marvin roffman an analyst at janney montgomery scott inc
beneficial corp said the sale of its american centennial insurance co subsidiary to first delaware holdings inc was approved by the delaware insurance department
seasonally adjusted the february current account surplus narrowed against january
furthermore we still have the april 1986 highs to contend with which in the nearby contract is 105 15 32
westpac drops new zealand indicator lending rate
once policy is in place gros said financing talks with the banks are likely to be tough and protracted a sentiment echoed by the countrys creditors
ec approves mediterranean financial packages
crude throughput volumes are expected to be unchanged to slightly higher or lower than the week ended march 13 traders said
pantry inc inb talks on being acquired
bethlehem steel bs sets plate price increases
only one japanese company has renewed its term contract for iranian crude oil for the second quarter the sources said
the bank said a 34 mln dlr loan is to help jamaicas sugar industry become self sufficient and meet both domestic demand and the export demand of the united states and european community
us to protect only american ships
the company said the split will be effective on stock of record april eight
under the pact tokyo agreed to stop selling cut price chips in world markets and to increase its imports of american semiconductors
boschwitz plans to introduce a 0 92 plan in the senate
however key monopolies in areas like steel and plastics and high tariff barriers remain in place
bass led group has 89 pct bell and howell co stake for investment
resende announced suspension of the maize imports at a news conference in brasilia yesterday
bentsen predicted congress and the white house would agree on a fiscal 1988 budget that would raise between 18 and 22 billion dlrs in new revenues
century business credit corp said it will make an announcement concerning its delay on the american stock exchange this morning
lego senior executive vice president told the analysts our plans do not call for a multibillion dlr acquisition even though our balance sheet can handle one
ohio mattress co said its first quarter ending february 28 profits may be below the 24 mln dlrs or 15 cts a share earned in the first quarter of fiscal 1986
drexels ramirez did not commit herself either way adding that the next major move may have to wait until april 14 when februarys us trade data are due for release
jefferies and co said it is making a market in the stock of usair group inc at 48 1 2 to 50
the commission headed by finance minister edouard balladur forecast a fall in consumer price inflation to two pct year on year at end 1988 from 24 pct at end 1987 and 21 pct last year
global lowers heavy fuels prices
ronald tappmeyer president of the international association of drilling contractors said the members of our trade asssociation are convinced that only a variable oil import fee that sets a minimum price trigger can protect our nation the association represents some 1300 drilling and oil service companies
american brands inc said it expects first quarter net earnings to exceed the record 1187 mln dlrs or 105 dlrs a share it earned for the year ago quarter
a bank statement said agriculture set as the main growth area in a five year economic recovery program adopted in 1985 by african states received 607 mln dlrs 37 pct of the total
our plans include initiatives on the debt front as well as greater emphasis on debt equity swaps and the promotion of private investment in third world countries through our affiliate the international financial corporation conable told newsweek international
the final fourth quarter revision however left unchanged the previous estimate of a 25 pct increase in gnp for all of 1986 over 1985
per share information not available
shr 155 dlrs vs 70 cts net 3409000 vs 1455000 rev 541 mln vs 453 mln nine months shr 160 dlrs vs 10 cts net 3517000 vs 211000 rev 1444 mln vs 1270 mln note qtr net includes extraordinary gain of 12 mln dlrs versus 155000 dlrs for fiscal 1986s third quarter and a non recurring pre tax gain of 720000 dlrs
the officials confirmed a new york times report that kuwait wants to transfer some of its oil tankers to us or soviet registration in hopes iran would be reluctant to launch new silkworm missiles at superpower flags
other owners are a new england electric system nes unit with a 25 pct stake and southwestern energy production co with 15 pct
the selling concession is 3 4 pct while management and underwriting combined pays 5 8 pct
some expectation had been growing that it might cut the rate or move to a minimum interest rate tender signalling a desire for a slight easing in credit policy
simmons said he intends to file a 13 d with the securities and exchange monday reporting a stake of five pct or more in some publicly traded company
psa said this is the third of four unions agreement is needed with for usairs acquisition to be consummated
second quarter ended june seven
savings acuisition in california announced
it said the first quarter will be impacted by writedowns resulting fromn revised estimates of costs required to complete projects and by delays in starting work on jobs originally forecasted to contribute to first quarter earnings
excludes loss 293000 or 16 cts per share for 1986 and gain 651000 or 18 cts per share for 1985 for discontinued operations
the rating agency said that a poor outlook for the oil services industry would pressure earnings and cash flow for basker hughes over the intermediate term
the shares are the entire block seized by the government from the united coconut planters bank ucpb on suspicion that the real owner was eduardo cojuangco the former chairman of san miguel and ucpb and a close associate of deposed president ferdinand marcos
it makes sense said james parker of robinson humphrey
moodys noted that british petroleum would use more than two billion dlrs of excess cash and marketables and about five billion dlrs of new acquisition debt to fund the transaction
labour office president heinrich franke announcing the figures said the hesitant decline in the unadjusted jobless total reflected continuing bad weather slack activity in the capital goods sector and structural changes in the coal and steel industry
established in 1866 the plant was acquired by du pont in 1928
last week underwoods shares rose 49p to 237p ahead of any announcement of the talks
the us officials said the 100 pct tariffs reagan ordered on 300 mln dlrs worth of japanese goods will also show congress that a tough pro trade stand can be taken under existing laws and no new protectionist legislation is needed
as previously announced us lines sa will transfer its south american service to crowley maritime corp s american transport lines inc subsidiary in return for a fixed lease payment for the four lancer class vessels and a participation based on american transports south american revenues
teikoku kako co ltd is launching 40 mln swiss francs of five year notes with warrants with a 1 1 2 pct indicated coupon lead manager credit suisse said
the new york mercantile exchange said it will introduce exchanges for physicals efps to its energy futures markets april one
the company said it is also submitting to shareholders at its may 21 annual meeting a proposal authorizing an additional class of common stock
m 1 grew to an estimated 503 billion dlrs against a revised 477 billion in november and 434 billion in december 1985
the loan will also help pay for new trains
all sectors saw strong growth in 1986 resulting in a 13 pct increase in operating income to 120 mln guilders
p goenka president of the federation of indian chambers of commerce and industry
the other sector commanding market attention today was eurosterling which soared in line with uk government bonds
when wholesale prices go above the ceiling the lipc releases its beef stocks both domestic and imported and buys locally produced beef when prices are below
miyazawa says g 7 still supports louvre accord
she was unable to say if there had been any prior contact between waste management and chemlawn officials
southern national corp snato 1st qtr net
the government of president victor paz estenssoro has streamlined the deficit ridden state mining corporation laying off about 20000 miners two thirds of the workforce following a collapse of the international tin price in 1985
the stock jumped 2 3 4 to 79 7 8
investor david laroche said he has extended his cash offer to buy 170000 shares of neco enterprises inc at 26 dlrs each until april 14
they expect it to supply the reserves indirectly by arranging a fairly large round two billion dlrs or more of customer repurchase agreements
since the beginning of march the coffee market has been strictly regulated by the state food marketing monopoly enapal
both sides wrote to the minister yesterday setting out their cases but schoufour said he did not expect to hear from him before wednesday at the earliest
terms will be set on april 15 with payment due may 6
other prime rates range from 1825 to 185 pct with the majority on 1825
backlog 310 mln dlrs up six pct from a year before
in the past this anchor was gold but the united states went off the gold standard because the global economy had vastly outstripped gold supplies
s and p cited the companys announcement that it will purchase up to 54 pct of its common stock shares for 16 billion dlrs
renault president raymond levy said in a statement issued by the french state car group the agreement was an important stage in renaults redeployment
german finance ministry confident of maintaining currency stability at around current levels spokesman
federal guarantee corp fdgco 1st qtr net
a majority of australian manufacturers expect a deterioration in the business climate according to the march survey of industrial trends by westpac banking corp and the confederation of australian industry
first chicago fnb raises prime rate
the official said ivory coast continued to support the new pact which was agreed in principle last year by most of the worlds cocoa exporters and consumers
the asa is confident the us congress will support its trade complaint adams said
in the south west the agpm said producers intended to plant a similar area to last years 671100 harvested hectares provided water supplies are adequate in the midi pyrenees region after the last two years of drought
mannesmann which yesterday announced it had agreed to take a majority stake in the fichtel und sachs ag car parts group for an undisclosed sum saw third party group turnover fall nine pct in 1986 to 1660 billion marks
youll find a lot of people who think we have not done the former enough
the other leading contender is a consortium of american telephone and telegraph co t with philips nv of the netherlands
ec officials say these tactics yield some benefits but often the japanese announce modifications of their non tariff barriers which open the door to imports by only a token amount
proceeds will be used to retire commercial paper and for general corporate purposes
reagan said in announcing the sanctions today that i regret that these actions are necessary but that the health and vitality of the us semiconductor industry was essential to american competitiveness in world markets
these options boost production while avoiding the huge costs associated with proposals like an oil import fee herrington told a house energy subcommittee hearing
the company said president and chief executive officer morris moliver had been chief operating officer as well
obrien energy systems inc is raising 25 mln dlrs through an offering of convertible subordinated debentures due 2002 with a 7 3 4 pct coupon and par pricing said sole underwriter drexel burnham lambert inc
k mart corp said it agreed to sell most of the us kresge and jupiter stores to mccrory corp a subsidiary of privately held rapid american corp
the employers invitation to restart the talks comes on the day a deadline set by minister of social affairs louw de graaf for a resolution of the dispute expires
the refinery as a whole had been operating at about half of its capacity since the end of january while an extensive overhaul was carried out on the north side of the complex where the hydrocracker is sited he said
the selling concession is 85 basis points while management pays 70 basis points
share analysts said that for this reason they did not think etls intervention would flush out a full redland bid although moniers ultimate fate rests in its hands
arab heavy dropped 10 cts to 1663 dlrs a barrel and dubai was off 12 cts to 1809 dlrs
revolving credit in january fell by 366 mln dlrs after rising by 552 mln dlrs in december
fees comprise 1 1 4 pct selling concession and 3 8 pct each for management and underwriting
i hope it was a temporary blip upward he told a house appropriations subcommittee
year to march 31 shr 280p vs 214p final dividend 9p vs 65p making 12p vs 93p pretax profit 5316 mln stg vs 4512 mln turnover 6411 mln stg vs 6397 mln group operating profit 5763 mln stg vs 4906 mln share of associates profits 133 mln stg vs 387 mln investment income 159 mln stg vs 219 mln interest payable 738 mln stg vs 1001 mln tax 1648 mln stg vs 1760 mln leaving 3668 mln vs 2751 minorities debit 158 mln stg vs debit 139 mln extraordinary items credit 295 mln stg vs debit 812 mln operating profits breakdown by class of business building materials manufacture 237 mln stg vs 209 mln distribution 101 mln stg vs 75 mln specialist print and pack 126 mln stg vs 96 mln international 60 mln stg vs 56 mln head office and property 46 mln stg vs 36 mln discontinued sold businesses 589000 stg vs 24 mln operating profits geographic breakdown britain 514 mln stg vs 433 mln africa 33 mln stg vs 34 mln australasia 14 mln stg vs 854000 stg north america 15 mln stg vs 16 mln note full name is norcros plc ncrol
good domestic demand higher operating earnings and a strng export business probably benefitting from a lower dollar and effects of reduced imports in chemicals will continue to aid du pont he also noted that energy earnings in the first quarter are better than expected because of the rise in crude prices
shr 46 cts vs 49 cts net 1101551 vs 831398 note share adjusted for two for one stock split in may 1986
phillips petroleum p expects to begin marketing the new 89 octane unleaded gasoline in may sources said
between january 1 and february 15 132 firms had applied to do a debt equity conversion compared with 100 between may and december 1986
sanwa plans to increase its stake in bpi to four pct the ceiling for foreign shareholders the official said
the sale to a group headed by girozentrale bank of austria is subject to shareholder approval by april 24 1987 it said
citicorp cci savings extends california reach
because of the acquisition of brooks drug in september 1986 and the companys change of fiscal year prior year results are not comparable compact video explained
brazil has no set coffee export targets ibc
world bank vice president david knox said the bank was eager to finance argentine plans to stimulate growth and that he was urging private banks to grant new loans to the country
the treasury secretary is also expected us officials say to portray that attempt as a crucial element in his plan to promote inflation free economic growth open markets and a much reduced government role in the economies of latin america
the federal reserve will enter the government securities market to supply reserves via either a large round of customer repurchase agreements or by overnight or possibly four day system repurchases economists said
we will not get another chance before the year 2000 the ministers are in new zealand to review world trade since the uruguay round talks last sepember
it is probable that some 18 mln tonnes have already been taken up they said
rabobank nederland said in its latest economic bulletin by maintaining the 11300 limit the central bank raises the expectation it will always intervene above that level
ah robins co said it filed its consolidated net earnings report for february which amounted to 6720000 dlrs compared to 4646000 for the comparable month the year prior
japanese investor interest in british gilt edged securities is growing rapidly due to expectations sterling will remain stable despite the drop in oil prices and on calculations gilt prices will firm bond managers said
mining group boliden ab said it had agreed with saudi state agency general petroleum and mineral organisation petromin to open a gold mine in saudi arabia to exploit one of the worlds richest deposits of the metal
the canadian government today said ottawa would continue to apply a duty of 849 cents per bushel on us corn imports
in a twin announcement csr already australias largest sugar refiner made a 220 dlr a share bid for the 70 pct it does not already hold in pioneer sugar mills ltd this will be a big shock to the market which was under the impression that csr was well down the road to floating delhi mckibbin said
herrington said he had always advocated a greater fill rate for the petroleum reserve but the rate had been kept down because of budgetary constraints
the second case involved knapp being enjoined from violations of sections of the securities exchange act the nasd said
oper shr loss 607 vs loss 764 dlrs oper net loss 6235000 vs loss 4801000 sales 701 mln vs 606 mln avg shrs 1028000 vs 629000 note 1986 earnings exclude a gain on restructuring of 3143000 dlrs or 301 dlrs a share
the canadian dollar traded at 13218 23 per us dollar today down from 13185 90 yesterday
few are willing to predict a sharp upturn in economic activity but one banker said the top 50 pct of the saudi banks are now at or close to international levels on provisions from 1982 to 1985 the kingdoms largest bank national commercial bank ncb stashed away 17 billion riyals in provisions or 89 pct of its total loans and advances to the private sector bankers calculated
thus far they have been willing the eic said adding that if japan was deterred from buying us bonds the dollar would collapse
the european commission authorised the export of 65000 tonnes of free market barley at todays tender at a maximum rebate of 13875 european currency units and 55000 tonnes of french maize at 130 ecus grain traders here said
soybean production for 1986 87 is now estimated to reach between 77 and eight mln tonnes versus 78 to 82 mln tonnes estimated a week ago and eight to 84 mln tonnes estimated in mid february
however if the political reality is that disaster aid for winter wheat farmers would be unavailable because of controversy over spring wheat then english might consider an even greater cutback in the bill they said
the company said it does not intend to seek another buyer
north central labs nclb discusses aids tests
conrac says it is mulling restructuring or buyout as alternatives
the white house economic policy council decided to recommend trade sanctions against japan for violations of the us japanese semiconductor agreement industry sources said
i am speculating that the new product could be an electronic still camera referring to a camera that records its images on magnetic disks as opposed to conventional film
ual will pay 6325 mln dlrs cash 2564000 shares of ual common stock and 200 mln dlrs worth of ual debentures to transworld but it may substitute cash for the securities
trico industries inc said it set march 31 as the date for a special shareholders meeting for a vote on the proposed acquisition of the company by paccar inc pcar in january the two companies announced an agreement covering a proposed acquisition by paccar of tricos approximately 82 mln shares outstanding for eight dlrs per share in cash
this brings the scope of prt relief for research costs more in line with corporation tax relief measures and is planned to encourage general research into ways of reducing field development costs it said
deutsche group partial operating profits rose to 378 billion marks in 1986 from 292 billion in 1985 on a balance sheet of 25722 billion marks after 23723 billion
the company agreed to sell its interest for 7250000 dlrs subject to downward adjustment for certain title and state requirements
palm oil now sells at around 700 ringgit a tonne or about 115 ringgit less than soybean oil but malaysia must sell more palm oil to prevent a stock buildup that could damage the industry a leading grower told 
wayne jones vice president at outboard for strategic planning said management wants to stay independent
since the offer was made over a dozen shareholder lawsuits were brought against revlon alleging the original offer was too low
equine is a new mexico quarter horse breeding and racing company
oper shr 40 cts vs 30 cts oper net 1364000 vs 1025000 revs 147 mln vs 110 mln avg shrs 3372970 vs 3425400 year oper shr 86 cts vs 32 cts oper net 2925000 vs 1109000 revs 430 mln vs 357 mln avg shrs 3383651 vs 3418594 note year ago periods exclude extraordinary gain of 11 mln dlrs or 31 cts shr
metromedia long distance said it has introduced oneplus wats a telecommunications service for high volume callers
the west german discount rate remains at 30 pct and the lombard emergency financing rate at 50 pct
it comprised the repayment of 1125 billion francs worth of european currency units ecus 972 billion francs worth of foreign currency and 172 billion francs worth of special drawing rights sdrs the bank said
swire plans bonus issue on higher 1986 profits
elders ixl ltd elxas says it is happy to leave preferences shares of brewer carling okeefe ltd outstanding after an undisclosed bidder made an offer to acquire all of carlings outstanding preferred stock
government planners have long recognised that saudi arabia the worlds largest crude exporter needs to foster private enterprise to diversify its oil based economy
building was boosted by two factors last month unusually mild weather and low mortgage rates
south koreas leading indicators fall in december
zemljaric was not quoted as saying whether the two billion dlrs referred to principal or interest or both
biw cable systems inc biwc 4th qtr loss
bangladeshs broad based m2 money supply rose 695 pct to 13279 billion taka in december after rising 051 pct to 12416 billion in november and 307 pct to 11422 billion in december 1985 the central bank said
correction rome italian january production in story headlined italian january industrial output falls 34 pct in second paragraph please read the fall follows changing rise to fall
from what brazil has said it is quite likely the banks will get the money said meredith
texas american bancshares inc said three of its texas american banks will be merged into texas american bank galleria
it said the payments were suspended because of certain covenants contained in its loan agreements
japan to pay five pct less for indian iron ore
analysts predicted the debt arrangement plus further gains in the gold price could push the commercial rand over 50 us cts and the financial rand to 35 cents in the next few weeks
year to date demand for all petroleum products averaged 1632 mln bpd up 18 pct from 1604 mln in 1986 it said
the release of uk february trade data showing that the current account surplus was a provisional 376 mln stg up from a 73 mln surplus in january has boosted hopes of an early cut in interest rates analysts said
richard grassgreen president of the company said earnings per share are expected to be between 97 cts and one dlr in comparison to 75 cts earnings per share for the fiscal year ended august 29 1986 and 80 cts for the trailing 12 months ended november 1986
santos said the move had been explained to fellow opec members during last weeks meeting in vienna when an increase in ecuadors quota to 221000 bpd from 210000 was approved
overall capital and exploration expenditures will fall slightly below the level for 1986 although well be ready to increase spending whenever the outlook becomes more promising murray said
bank of japan governor satoshi sumita said in a statement the central bank will intervene in foreign exchange markets to stabilise exchange rates if necessary in close cooperation with other major industrial nations
norway central bank sells crowns to ease pressure
greenmail is the payment at a premium for shares held by an unwanted suitor and a poison pill is typically the issue of securities to shareholders which make a takeover more expensive
royex on march 31 offered to buy four mln corona shares
the move is part of our government efforts to encourage imports from our trading partners particularly from the united states he said
the waterway is expected to lose 9 10 mln canadian dlrs this year about the same as the estimated deficit for fiscal 1986 87 ending march 31 said william blair an executive member of canadas st lawrence seaway authority
mechtron international corp mcht year net
santos said it remained financially strong with an injection of 84 mln dlrs from the second instalment of a 1985 rights issue and had cash reserves of 3813 mln dlrs at the end of 1986 against 4019 mln a year earlier
winchells donut wdh sets initial quarterly
members of the baltic international freight futures exchange biffex are to be balloted at the end of this week on whether it will merge with the london commodity exchange or come under a new umbrella of baltic futures exchanges a biffex official said
the 40 mln dlr loan is designed to raise the performance of exports and industry and strengthen the financial sector
the meeting was delayed so a draft compromise proposal on buffer stock rules could be completed they said
of course these are our proposals for talks with creditors
london metal exchange lme prices are unusually buoyant at a time of year when seasonal demand is normally slackening and prices tending to drift lower
hudsons bay co 4th qtr net
jon rosenbaum us assistant trade representative and delegate to the talks said in a statement after the council adjourned a majority of producers led by brazil were not prepared to negotiate a new distribution based on objective criteria
it did not identify the buyers
the bond is in partly paid form with 30 pct due on april 15 and the remainder due for payment on july 15
this compares to a 04 pct gain in january us industrial production
were still more or less on track for a hard landing but the agony may be fairly drawn out marris told 
envirosure management corp envs 1st qtr loss
the administration has strongly objected to this transfer of authority from reagan to yeutter
the us justice department has announced that it will require divestiture of the product line for approval of the merger
santa fe southern pacific corp said it has discussed with henley group that companys almost five pct stake and was told the holdings are for investment purposes
hazleton shareholders will vote on the proposed merger at a special meeting on march 31
he recommended we should not lock ourselves into formalized procedures for international negotiations on exchange rates but instead use other more flexible means like the recent mmeting in paris between us treasury and central bank representatives and those of major trade allies
note loss 1986 includes 39 mln dlrs for restructuring costs associated with disposal of property
becor also said discussions continue with one other possible bidder which it still has not been identified
federal funds which averaged 602 pct on friday opened at 6 1 8 pct and traded between there and 6 1 16 pct
a lot will depend on oil prices and developments on stock exchanges witte said adding he saw gold positioned for further rises once it breaks out above 450 dlrs
investor boosts first western fwes stake
richard gephardt said
the first paid will be the trading community and those connected with texaco in the shipping industry one new york trader said
west germany also opposed to the oils and fats tax will advise the meeting formally later today it cannot countenance other proposals that could hit german farmers they added
brussels ferruzzi says it will pay 630 mln dlrs to cpc international for european mills
german february capital account deficit 753 billion marks vs jan 1191 billion surplus bundesbank
malaysia has also agreed to barter palm oil for 30 mln dlrs of hydroelectric equipment and is interested in countertrading for indian iron ore wheat and other goods and services he said
raw sugar futures firmed to session highs by midmorning securing gains from last nights basically steady close of 100 to 180 dlrs a tonne in a 166 lot volume
president corazon aquino had accused some creditor banks of non too subtle coercion in threatening to refuse to sign the rescheduling accord until the loan problem was settled
stone said the final portion of the 11 billion dlr credit facility will be a 100 mln dlr letter of credit which will replace an existing letter of credit relating to the operating lease of its co generation energy facility nearing completion at its linerboard and kraft paper mill in florence sc
hk shanghai bank standard chartered bank raise prime 1 2 point to 75 pct
the national census and statistics office ncso said imports of 436 mln dlrs in january were up from 371 mln in january 1986 and 393 mln dlrs in december while exports of 368 mln were up on the 314 mln in january 1986 but lower than decembers 421 mln
the government move is aimed at protecting goodwoods minority shareholders and securing goodwood deposits at the nbb the banking sources said
britains visible trade deficit narrowed to a seasonally adjusted provisional 224 mln stg in february from 527 mln in january the trade and industry department said
last july the interstate commerce commission icc denied the merger on anticompetitive grounds
remarks by two leading central bankers sparked renewed speculation in financial markets that a cut in the west german three pct discount rate may be under discussion currency dealers said
shearsons kaul estimated us roaster ending stocks as of january 31 including soluble and roasted at 63 mln bags compared with 69 mln at end september 1986 a small drawdown for the usually busy winter roasting season
the independent directors said they will engage an expert to evaluate the fairness of the offer
norsk hydro is 51 pct owned by the kingdom of norway
they the investors became more or less quiet after 10 oclock 0100 gmt he said
following the refiners request representatives of the florida sugarcane producers met with usda to express opposition to any quota expansion industry sources said
shr 29 cts vs 16 cts net 610000 vs 329000 sales 6714000 vs 4582000
for the full year ended december 31 fleet a rhode island based bank holding company reported net income of 1367 mln dlrs and assets of 117 billion dlrs
eurodollar volume reached a record 78546 contracts last month against 70306 in september
key us house panel finishes major trade bill
montedisons agrimont unit 1986 earnings
last time we had a gentlemans agreement the trade did not act as a gentleman said another analyst adding without the need to submit documents the ball will be in the producers hands some feel that importers will take advantage of the voluntary compliance due to development of a two tier market in which non member countries buy coffee at a big discount
other analysts also noted that cattle are coming off wheat pasture sooner than normal because of poor pasture conditions
a group of affiliated firms led by warburg pincus capital co lp a new york venture capital and investment partnership said it has acquired 1920527 shares of symbion inc or 255 pct of the total outstanding
physio technology said it is changing its field sales force to independent representatives and dealers from employees to significantly reduce its fixed overhead its statement did not indicate how many employees would be affected by the move
however dub said the offering sold out quickly anyway
equatorial said it has signed a memorandum of understanding for contel corp ctc to purchase 10 mln dlrs of equatorial master earth stations micro earth stations and associated equipment and loan equatorial six mln dlrs over a six month period for repayment starting in december 1988
the broadcast operations have been hit with layoffs and other belt tightening measures
i believe were going to see a change in the world oil markets in two to three years because oil is becoming harder to find anderson who retired from arco last year to form hondo oil and gas co said world oil consumption is approaching 60 mln barrels a day but a current excess capacity cushion of about 45 mln barrels a day will rapidly disappear
the bonds will be due march 1 1990 and are priced at 999375 pct to yield 686 pct
multi step previously said it agreed to acquire the remaining 60 pct of tarxien it does not already own
the agency said it will study the effect new products may have on upjohns earnings potential
he said the closed pipelines run under river water and could be damaged as the flooded rivers erode the river banks and expose the piping
houston oil trust said there will be no royalty funds available for distribution to unit holders in april
pre tax profit for 1986 rose to 1059 mln stg from 796 mln
producers feared continued damp conditions could produce rotting and lead to still lower yield estimates for all the crops including soybean
west german planting intentions this year are put at 381000 hectares down from 390500 ha last year he said adding that the 1980 1985 average was 405000 ha
the officer said he believed the rockwell paper would sell quickly mostly because the company is well known and has not tapped the debt market in three years
the frame has fewer parts than conventional steel frames ford said
marcus mrcs votes 50 pct stock dividend
a us defense department spokesman said he had no information on london oil and stock market rumors that the united states had launched a retaliatory strike against iran for an attack on friday that damaged a us shi i dont have anything major randy morger said
republic automotive parts raut 4th qtr loss
one diplomatic source said the key to polands debt problem lay in london saying that the commercial bank creditors there must take a practical position before a paris club decision
the officials said such a money market action to stabilize the dollar is not only for the benefit of japan which is suffering from a sharp appreciation in its currency but also for the benefit of the united states as well
a spokesman for the workers said they would continue their strike until authorities agree to their demands for higher pay and other benefits
the department of national savings effectively a treasury department unit yesterday suspended its 32nd issue launched in october and paying a high tax free 8 3 4 pct on five year private investments between 25 and 5000 stg
the uaw is negotiating with amc over the carmakers demand for economic concessions covering workers at its wisconsin operations without which amc has said it would cease vehicle production at its kenosha wisconsin assembly plant by 1989
ivory coast confirms presence at cocoa talks
philippine officials and a 12 bank committee have been meeting for the past four weeks in new york in a bid to reschedule 94 billion dlrs of foreign debt
vms mortgage vmtgz cash distribution rises
iowa grain elevator explodes burns
the company said proceeds will be used for general corporate purposes including funding an increasing commitment to research and development on new drug formulations and delivery systems
bank of japan already purchased one billion dlrs in morning intervention dealers
baird said the us district court in boston has denied mark ivs application for a temporary restraining order to prevent enforcement of the massachusetts takeover law
under those terms each baker common share and hughes common share would be converted into one share and 8 10 of a share respectively of baker hughes inc which would be formed as a new holding company
under the agreement the oil drilling equipment and oil services company will pay reduced quarterly interest payments on part of its bank revolving credit loans and industrial revenue bonds
a major tax reform including the introduction of a western style valued added tax is planned for january 1988 in an effort to cure problems in state spending
houston said inspection programs have kept pace with change but conceded that the danger of chemical residues in the meat and poultry supply has increased
additional moisture was needed in some areas
lasmo set to benefit from future oil price rises
standard and poors pointed out that general motors corp gm chrysler corp c and nissan motor co ltd nsan realized funding advantages by issuing car loan backed debt
an ibc spokesman told that a 15 mln dlr loan from the banco do brasil would be used to pay five mln dlrs a month in june july and august to creditors
the sources were reporting poehls remarks at a symposium in duesseldorf last week organised by deutsche bank ag
traders detail ec grain export licences
employment is forecast to decelerate as well reflecting more sluggish growth in the private sector and budgetary cuts the report said
firstier financial inc frsto 3rd qtr net
no changes were made in unions posted prices for west coast grades of crude oil the company said
this is the third such offering the company has made and the second in the past four months
dale burdett inc faces damage claim
scan graphics captive venture capital merge
varian var in talks with philips electronics
qtrly div nine cts vs nine cts prior pay may 1 record april 9
growth was highest in portugal at five pct while in greece output contracted by 03 pct eurostat said in a statement
this largely related to its vamgas ltd unit non allowable exchange losses and tax benefits from the north west shelf project not recognised in the accounts
he urged congress to reject provisions that would mandate us retaliation against foreign unfair trade practices
opening stocks at the start of next october are expected to be about 14 mln tonnes 300000 tonnes below year earlier levels bringing total supplies to 95 mln tonnes he said
we have only around 10 years of profitable logging left
correction london citibank launches warrants in london item citibank launches currency warrants please read second paragraph as follows each warrant priced at 4750 dlrs gives the holder the right to purchase a nominal sum of 500 dlrs against marks at 18250 marks to the dollar or at 14950 yen to the dollar between march 31 1987 and march 31 1989 corrects dollar mark exchange rate to 18250 and makes clear that dollar purchase is against marks or yen
argentine port workers began an indefinite protest against safety conditions at the port of buenos aires stopping work for one hour per shift a press spokesman said
under terms of the agreement santa ana calif based meridian said it will pay columbus based american dynamics one mln dlrs in cash and notes over five years and about 500000 shares of its common stock
most analysts seemed to agree with chicago mercantile exchange floor traders that the report will be viewed as bearish to pork futures and futures prices may open sharply lower today
coastal could not be reached for comment
earlier weizsaecker said that the potential of patagonia the barren tableland covering a third of argentina could assure the economic future of the country
under the plan chapman will exchange securities and cash for all outstanding 12 pct senior subordinated debentures due 2000 and will sell a controlling interest to troon partners ltd
ideally youd have to break this thing up to satisfy all the interests involved he said adding the two largest shareholders might be interested in pieces of taft
the survey also showed that 23 pct of the polled companies consider current order books to be above normal while 58 pct view them as normal and only 19 pct regard them as below normal
century business credit corp cty 4th qtr
rainfall measured between 15 and 270 mm in buenos aires with the heaviest rains in the provinces western sectors between 15 and 100 mm in cordoba 15 and 120 mm in la pampa 10 and 75 mm in santa fe 10 and 60 mm in entre rios five and 40 mm in misiones and five and 50 mm in san luis
merchant and investment banking 8147 mln vs 6322 mln bullion broking 475 mln vs 302 mln us government security dealing 294 mln vs loss 329000 investment management and unit trusts 1062 mln vs 788 mln other activities loss 312 mln vs profit 142 mln interest on loan capital 1782 mln vs 1490 mln
inspectorate issues 200 mln mark equity eurobond
deutsche babcock sees higher 1986 87 profits
philippines says debt pact better than mexicos 
theres a lot of leisure money out there
un press secretary francois giuliani said the secretary general had no comment on the attack which followed his appeal last friday for restraint in the crisis while he pursued efforts to obtain a ceasefire between iran and iraq
wright has made suggestions for raising taxes about 20 billion dlrs as part of a budget plan to reduce the deficit
south africa will disclose later today new arrangements for its repayment of foreign debt the finance ministry said
their phelps dodge costs are so low they dont need copper prices higher than 70 cts to make a lot of money said vahid fathi of prescott ball and turben inc
traders and analysts in international oil markets estimate opec is producing up to one mln bpd above a ceiling of 158 mln bpd agreed in geneva last december
that left the 1985 account with a 756 mln franc loss instead of 692 mln 1984 with a 68 mln profit instead of 169 mln 1983 with a 217 mln loss instead of 82 mln and 1982 with a 479 mln loss instead of 179 mln
british airports authority seeks credit facility
yield falls on 30 day sama deposits
the conversion period is from may 20 1987 until september 20 1992
artillery shells from an exchange of fire between iran and iraq fell on kuwaits northern border on tuesday but caused no casualties the kuwait news agency kuna said quoting a defense ministry official
in a bid to hasten japans promise to speed up its economic growth and open markets to foreign trade top us officials appear once again to have signaled their tolerance of a lower dollar
they said the joint venture made a profit of 15 mln nz dlrs on the deal but they did say how many shares they had sold
this will also increase revenues
the agreement also provides that any portion of the cost of service deferrals not recouped prior to december 31 1994 will not be recovered through new mexico rates the company said adding it expects to recoup all deferrals in full by that date
the bank of england said it provided 24 mln stg help to the money market in the morning session
many have converted to full subsidiary status and applied for a full banking licence over the last two years in order to lead manage mark eurobonds
both marais and develle said they agreed with that so long as the government kept wages under control
the bank of england said it forecast a shortage of around 450 mln stg in the money market today
however some analysts said a 10 to 12 mln acre sign up may end up being negative to new crop corn prices citing trade talk earlier this year that 14 to 15 mln acres may be submitted by farmers
the vessel subsequently arrived at its destination of ras tanura on may 25 and left this morning
shipping serving kuwait has come under repeated attack by iran angered at the emirates war backing of iraq
baldrige says japan must open its markets
universal said it will operate as a wholly owned unit of questar under its current name
jamaica has been authorized to purchase about 56000 tonnes of us wheat under an existing pl 480 agreement the us agriculture department said
continental airlines inc a unit of texas air corp said it filed a registration statement with the securities and exchange commission for an offering of 350 mln dlrs of equipment certificates
westpac banking corp in new zealand said it will increase its indicator lending rate by 15 percentage points to 225 pct from april 7
but cathay pacific recorded sharp increases in net finance charges to 1249 mln dlrs from 444 mln a year
sosnoff said his 28 dlr per share bid for caesars which is scheduled to expire may 15 still stands and he remains receptive to negotiating a transaction to buy caesars on friendly terms
he said there is a possibility the company will sell the smelter which currently employs 320 people before its scheduled closing
he described the situation as extremely tense but said gulf military activity would not significantly affect prices because supply and demand were roughly equal
in 1984 the company was renamed uccel corp
those who defend the continuously offered method such as wendy dietze a salomon brothers inc vice president point to the flexibility they offer in interest rate and maturity
pacificorp said it acquired thomas nationwide computer corp for 25 mln dlrs in cash and 15 mln dlrs in deferred consideration depending on the future performance of the company
technical details of the operation would be announced in the next few days
andover group a great falls va investment partnership that is seeking control of hbo and co said it raised its stake in the company to 2026000 shares or 87 pct of the total from 1626000 shares or 70 pct
taiwan will relax import controls on more foreign goods a government spokesman said today
butler national corp butl 3rd qtr jan 31
fieldcrest cannon inc is raising 110 mln dlrs through an offering of convertible subordinated debentures due 2012 with a six pct coupon and par pricing said sole underwriter kidder peabody and co inc
qtly div 20 cts vs 20 cts previously pay june two record may 12
the world bank said it approved a 100 mln dlr loan to help brazil finance the rehabilitation of the railway in sao paulo state and establish a institutional reform program as a base for future commercial operation
boliden says results burdened by loss writeoff
shr 126 hk cents vs 42 adjusted final div 30 cents vs 10 making 40 vs 10 net 479 mln dlrs vs 157 mln turnover 104 billion vs 105 billion note profits excluded extraordinary items 52 mln dlrs vs losses 426 mln
all bids for wheat were rejected
in the future according to an agreement to be signed with the treasury the institute will no longer need to seek approval by the treasury to seek the release of additional funds to buy coffee the statement said
he added that many of the fixed interest eurobonds dollar straights had been trading basis only for some time prior to this weekends news
payments were halted in january because of the drop in the price of oil which accounts for nearly two thirds of ecuadors export earnings and 60 pct of government revenue
loral lor debt lowered by s p
oper shr 57 cts vs 73 cts oper net 6051000 vs 7818000 revs 500 mln vs 560 mln year oper shr 106 dlrs vs 124 dlrs oper net 11301000 vs 13203000 revs 1719 mln vs 2074 mln note current oper net excludes extraordinary income of 180000 dlrs in qtr and 1119000 dlrs in year vs previous losses of 2345000 dlrs and 515000 dlrs respectively
he said however there is support for his offer
electro sensors inc else votes extra payout
shipowners have offered a 100 pct raise which the seamen rejected
hechinger co is raising 125 mln dlrs through an offering of convertible subordinated debentures due 2012 with a 5 1 2 pct coupon and par pricing said sole underwriter morgan stanley and co inc
however this was far below the 73 pct increase planned for the industry for the whole of 1988
the angry response of japanese chip makers yesterday to the announcement of the us tariffs highlighted the difficulties the government faces in taking further action
based on the spread between banks cost of funds and the prime rate it probably makes sense for others to follow but no rush is likely said paul mcculley of ef hutton and co
federal reserve monetary policy the gramm rudman hollings legislation the g 6 agreement and the baker debt initiative for example all have moved us in the right direction he said
payment date is may 11
the bank said in a statement that from april 2 banks bidding for foreign exchange would have to pay at the rate they offered and not as presently at the rate of the lowest successful bid made at the auction
a military spokesman told the iraqi news agency ina the latest attack was at 1250 gmt
separately the isda estimates that about 300 billion dlrs worth of swap transactions are outstanding
a sinking fund that starts in 1998 to retire five pct of the debentures annually can be increased by 200 pct at the companys option
as usual the bank did not detail total operating profits
one of a pair of private investors in frost and sullivan inc told the securities and exchange commission he increased his stake in the firm by about two pct to 154 pct
the company now has about 55 mln shares outstanding
he said a number of favourable indicators such as high level of investment and a good climate for consumption meant a recovery could be expected while exports would pick up slightly during the course of the year
earlier the bank which specialises in providing finance to latin america and the caribbean announced pretax profits of 439 mln stg for calendar 1986 against 43 mln in 1985
the travelers corps travelers mortgage services said it signed a letter of intent to buy two subsidiaries of the privately held equitable life assurance society of the us the company said it plans to acquire the equitable relocation management corp and the equitable realty network inc
1986 year net includes four mln dlr lifo charge and 3400000 dlr credit from pension plan termination
canada february unemployment 96 pct
non consolidated net profit 3435 billion francs vs 2330 billion
the book value of the companys investment in land development operations is 224 mln dlrs
humana inc hum 2nd qtr feb 28 net
oil analysts and traders said they were not sure if the shutdown will continue to raise us oil prices
a purchase by transcanada would be least likely to run afoul of canadian antitrust laws however transcanada is asking for tax concessions from a federal government that is trying to hold its deficit below 30 billion canadian dlrs analysts have said
terms of the acquisition were not disclosed
andriessen did not give full details but said member state aid would be subject to strict criteria to avoid distortion of competition ec payments would aim to help farmers to survive a difficult period while the ec tackles the problems of surplus production
hydro quebec is issuing a 125 mln canadian dlr bond due april 21 1997 paying nine pct and priced at 100 3 4 pct lead manager merrill lynch international said
but the group also said in a letter last week to the company that the group had no financing
the cable system serves about 51000 subscribers in the communities of rockford loves park machesney park cherry valley morristown and winnebago county ill rr donnelly said
us attacks on two iranian oil platforms in the gulf both of which were still blazing caused damage estimated at 500 mln dlrs tehran radio quoted iranian oil minister gholamreza aqazadeh as saying
it said mikromed is developing a kit which it would distribute to its customers and which would be used by its customers to draw samples of their own blood
the company said its proven oil reserves were estimated at 605682 barrels on december 31 up from 186655 barrels a year earlier boosted by discoveries during the year put at 423659 barrels
a us embassy official said the us did not accept pekings trade figures at all mainly because they exclude goods shipped to hong kong and then trans shipped to us while us figures are based on country of origin
they have always honoured the agreement and theres no reason now to think they wont this year he told 
highveld said measures taken last year by the european economic community and the united states prohibiting all south african steel products presents a challenge to management to place the steel in other areas the company said overall world vanadium consumption in 1987 is expected to be similar to last year although chinas role is still an unknown factor in the total supply demand situation
even with a favorable vote of 65 to 15 the restrictions were weakened in the final version
bethlehem has one billion dlrs of debt and preferred stock outstanding
afg industries afg debt affirmed by s p
it said oil companies should absorb part of the tax rise internally and not pass it on to consumers as compensation for a reduction in the stocks that the industry is required to keep for swedens national petroleum reserve
it said 600000 dlrs of the loan will cover the foreign exchange costs of consultancy services equipment and training abroad for technical and financial personnel
new orders rose sharply in march with production also higher
darman also worked on some other baker initiatives like the tokyo summit agreement to intensify coordination of economic policies among the leading industrial countries and the recent paris agreement to stabilise currencies and stimulate global growth
national security insurance co said a group of investors has acquired 226243 common shares or a 222 pct interest for 2750 dlrs per share
under the atpc plan malaysia has been allocated an export quota of 28526 tonnes indonesia 24516 thailand 19000 bolivia 13761 zaire 1736 and nigeria 1461
in my opinion it is significantly higher sergeyev who works at the economics institute of the soviet unions academy of sciences said
reagan says us must do more to lessen reliance on foreign oil
the french have long wanted to control the imports of us corn gluten feed into the community saying that the imported feed was unfairly displacing european grain
cuban president fidel castro told a congress of the union of young communists here that the production of crude sugar during the harvest still in progress is 800000 tonnes behind schedule
centerior energy corps cleveland electric illuminating co subsidiary sdaid it will redeem on april three all 75 mln dlrs of its 16 5 8 pct first mortgage bonds due 2012 at 1120 dlrs per 1000 dlrs principal amount plus accrued interest of 1478 dlrs
analysts expect hang seng to announce net profit of more than one billion dlrs for the first time an increase of 10 to 12 pct
the kansas city board of trade kcbt has asked federal futures regulators to modify a proposal to raise the chicago board of trades cbt speculative position limits on wheat futures contracts saying the plan would put the the kansas exchange at a serious competitive disadvantage the commodity futures trading commission cftc last month proposed raising cbt wheat speculative limits to 1200 contracts all months net from 600 contracts and to 900 contracts for any single month from 600 contracts
our belief is that we could still get a move downwards in rates before anything else said salomons di clemente adding that the key swing factor will continue to be the strength of the us economy
due to cold damp and windy conditions livestock advisories were posted this morning across central and southeast portions of south dakota
gm to repuchase up to 20 pct of 166 dlr par value common by end of 1990
mark salvino said the expected loss is primarily due to depressed product prices not recovering the increasing cost of crude oil
president jose sarney today declared a war without quarter on inflation and said the government would watch every cent of public expenditure
schmidt chiari made the forecast at a news conference when the bank announced a 1986 consolidated banking group net profit of 4967 mln schillings for 1986 against 3545 mln in 1985
he said the groups stake of about 35 pct in hong kong land which will be lowered to 26 pct after the completion of a reorganisation is a long term investment and now stands at a level which causes us no financial strain or problems of asset imbalance keswick said the issue of new b shares will give the group the flexibility in the future to issue ordinary shares for expansion without jeopardising the shareholding stability which has been brought about through the groups recent restructuring he said the new issue is pending approval from both the firms shareholders and warrant holders adding an appropriate adjustment will be made to the warrant exercise price
regie nationale des usines renault renapa said it and chrysler corp c have signed a letter of intent in which chrysler plans to buy american motors corp amon 46 pct owned by renault
since 1982 shell has acquired two billion dlrs in new reserves including 470 mln barrels of oil equivalent at a net cost of 280 dlrs a barrel he said
he said sprint currently does not have access to mexico but was working on it
a government spokesman in paris said france is favourable to commodity pacts
export guesses for all wheat ranged from 160 to 200 mln bushels compared with 164 mln last week and 112 mln last year
i feel pretty safe in saying that any process that tries to dictate a numerical outcome from above is doomed to fail simply because theres no way to enforce it penner said
it also said it cut long term debt in 1986 to 900 mln dlrs from 13 billion dlrs at year end 1985 and management changes and staff cuts have significantly reduced costs
here injury to subsistence resources from exploration was not at all probable justice byron white wrote for the court
fluor corp said it won a contract with general electric to design construct and deliver modules for a methyl chloride process addition
cbt hopes to launch the first us night trading session at the end of april offering treasury bond and t note futures and options on the two futures contracts between 1700 and 2100 hrs central us time 2300 to 0300 hrs gmt
goldman sachs said it has about 17800 first pennsylvania common shares remaining
commonwealth edison co filed with the securities and exchange commission for the sale of 375 mln dlrs in first mortgage bonds
in a letter to house banking committee chairman fernand st
llc corp reported net income of 184 mln dlrs or 60 cts a share on revenues of 556 mln dlrs compared to 232 mln dlrs or 75 cts a share on revenues of 793 mln dlrs a year ago
up to another 67 billion dlrs worth could be issued between january and august 1987 according to usda
the irving economist noted that three times last year in a similar paroxysm of pessimism the key bonds reached a similar closing yield high
columbia gas system inc said a federal energy regulatory commission decision today on natural gas cost recovery could reduce its 1987 earnings by about 125 dlrs a share
as it introduces the third unleaded grade exxon noted it no longer offers a leaded gasoline in the market except in some rural areas where leaded gaosline will be made available to distributors who have a substantial need for the product to serve customers whose equipment was designed for leaded fuel
the changes will in time have an extremely positive effect on the marketplace
japan while diversifying its supply sources of propane and butane for stable supplies will continue to bank on saudi arabian lpg the sources said
trans world airlines inc sold four mln shares it held in usair group inc wall street sources said
msuya said the government expected to spend 7733 billion shillings in the financial year 1987 8 39 pct more than this years estimate
french operators have requested licences to export 675500 tonnes of maize 245000 tonnes of barley 22000 tonnes of soft bread wheat and 20000 tonnes of feed wheat at todays european community tender traders said
north hills nohl gets construction funding
gordon jewelry corp gor 4th qtr aug 31 loss
lower us rice stocks strong exports usda
century communications corp said it had entered into an agreement to acquire all the assets of community cable vision of puerto rico associates and its associated companies for about 12 mln dlrs
the loan to be disbursed over two years from next july is for chemicals cement steel and machinery imports and for setting up a power plant in eastern sylhet district they said
foreign minister tadashi kuranari will accompany nakasone ministry officials said
crown resources corp said it plans to sell its oklahoma based oil and gas unit as part of its strategy to focus on developing precious metals properties
shr loss 414 dlrs vs loss 19 cts net loss 371 mln vs loss 1712000 revs 273 mln vs 334 mln year shr loss 551 dlrs vs loss 73 cts net loss 493 mln vs loss 6544000 revs 1090 mln vs 1419 mln note 1986 net both periods includes 348 mln dlr weritedown of assets of services segment and southeast asian joint venture
the delegates include us trade representative clayton yeutter
the following proposed securities offerings were filed recently with the securities and exchange commission wells fargo and co wfc shelf offering of up to 250 mln dlrs of subordinated capital notes
jacor jcor to buy two denver radio stations
american express raises qtly dividend to 38 cts from 36 cts
amt will contest all three points
shr loss 10 cts vs loss 50 cts net loss 1830000 vs loss 3584000 revs 407 mln vs 268 mln avg shrs 192 mln vs 7115847 12 mths shr profit 10 cts vs loss 91 cts net profit 1422000 vs loss 6195000 revs 1857 mln vs 1269 mln avg shrs 148 mln vs 6811280 notes in may 1986 prospect raised 1018100000 dlrs from an initial public offering of common stock
hughes tool ht board approves merger
spain has five years to complete bank deregulation a process that began in 1978 when the government allowed foreign banks to open branches
yulo said about 130000 tonnes would be set aside for the us sugar quota 150000 tonnes for strategic reserves and 50000 tonnes would be sold on the world market
rowntree mackintosh plc rwntl is issuing a 55 mln stg eurobond due march 31 2002 paying an indicated coupon of 4 1 2 pct to five pct and priced at par lead manager j henry schroder wagg and co ltd said
price declines were recorded for meat products lumber and motor vehicles
shell canada shc to sell tankers to socanav
the company said it is actively negotiating with lenders for concessions on a restructuring plan proposed march four calling for allis chalmers to divest itself of all businesses except the american air filter co
tehran radio monitored by the bbc quoted a foreign ministry spokesman as saying any attempt at interference would be met by a strong response from iran and other moslems in the world us defence secretary caspar weinberger in remarks apparently unrelated to the broadcast said the us would do whatever was necessary to keep shipping lanes open in the face of new iranian anti ship missiles in the gulf
the tender was announced last friday because carnival festivities closed banks in duesseldorf yesterday and will close banks here this afternoon
spring plowing seventeen pct completed vs 66 pct a year ago and 48 pct avg
these factors raise the question is there enough strength to keep the economy from tipping into a recession said lyle gramley chief economist of the mortgage bankers association and a former federal reserve board official
itel corp said it has completed the previously announced acquisition of the container fleet and related assets of castle and cooke incs flexi van leasing inc subsidiary for about 130 mln dlrs in cash and marketable securities 30 mln dlrs in notes three mln common shares and the assumption of liabilities
they feedlot operators are marketing more cattle than they had intended for the first quarter which is a bullish development levitt said
allis chalmers ah defers interest payments
president kaunda had ordered the price reductions to take account of lower import costs following the revaluation of the kwacha to a fixed rate of eight per dlr from 21 on may 1
troon will acquire a majority stock interest and control of the board
harsco corp hsc sets regular payout
bilfinger und berger sees output falling in 1987
texas eastern corp said it has completed the purchase of an idle petroleum products terminal near norris city ill from growmark inc for undisclosed terms and will reopen it in september after remodeling
in connection with the agreement flinstone was granted a security interest in its inventory receivables and equipment and in certain property in irwin county ga
nearly 90 pct of the surplus was with the us vice economic minister wang chien shien agreed with wangs remarks and said efforts to avert us protectionism were running out of time
standard and poors corp said it raised consumers powers senior debt to bbb minus from bb plus and its subordinated debt to bb plus from bb minus
increases follow a general trend in the industry started yesterday by sun co
five holds are partially flooded and there is some leakage of bunkers from double bottom tanks
the us share of revenues for this year will be about 35 pct rising to 40 pct in fiscal 1988 he said
first dealings will take place this wednesday march 4
payment terms vary depending on the type of service provided a southwestern spokesman said
sumitomo bakelite said it bought the stock for 49 mln dlrs for investment purposes
the company said its revenues were down due to lower foreign exchange rates and a change in accounting practice
they may get a little more bang for their buck he said
ldp executive council chairman shintaro abe will explain the plan to us officials when he visits the us on april 19
the launch spread is 53 basis points over equivalent five year treasuries
it also said that it was envisaged that monthly releases would be at least 100000 tonnes depending on the state of the market
in the 1960s we had 16 mln hectares of commercial forest now we have one mln
firm has allegheny intl ag preferred stake
eia says distillate gas stocks off in week
in volume terms gold holdings rose to 551 mln ounces in march from 526 mln ounces in february valued at 75724 rand an ounce for march versus 75459 rand an ounce for february
us agriculture secretary richard lyng will ask the japanese government to remove all beef import restrictions when he visits there next month
kansas city southern industries inc said an attempt by santa fe southern pacific co sfx to reopen the proposed merger of the atchison topeka and santa fe railway co and the southern pacific transportation co offers nothing truly new in a letter to shippers kansas city chairman landon rowland stated this proposed merger is plainly anti competitive as found by the icc and urged by the department of justice
it said the business which had sales of 67 mln dlrs when it was acquired in 1971 had sales last year of 398 mln dlrs up 12 pct from 1985
zambia to retain currency auction says kaunda
usda gave detailed breakdowns for the 1986 87 and 1987 88 seasons as follows in thousand tonnes unless stated a firm sales to a declared destination
dairy farm bids 1466 mln stg for 22 pct kwik save
this is totally by surprise said debra strohmaier a chemlawn spokeswoman
uk money market offered early assistance
the proposed increase in procurement of foreign goods by the government will probably include the purchase of super computers ldp officials said
johnson said the dollars decline against other currencies such as the japanese yen has been gradual
resdel industries inc said it has agreed to acquire san bar corp in a share for share exchange after san bar distributes all shgares of its break free corp subsidiary to san bar shareholders on a share for share basis
the central bank said m 2 rose 17 pct to an estimated 6865 billion baht in january after a 24 pct increase in december while year on year it expanded 133 pct after a 126 pct rise in december
moodys will also assess the effects that growth and a broader diversification of pharmaceutical cash flow will have on operating performance
however the ec commission has said it maintains its proposals for a tax
warehouse club wclb to take charge
veslefrikk with estimated recoverable reserves of 258 mln barrels oil and 140 billion cubic feet gas is located 145 km west of bergen
the company said mcc shareholders would have a 25 pct stake in the combined company and would receive a cash distribution of about 35 cts per share
turnover increases with the exceptions of the sectors fine chemicals and informations systems had only been achieved in those areas widened last year through acquisition in 1985
the shares are worth some 500 mln pesos at recent prices
he said us cattlemen say there is no reason to change slaughterhouse practices in april if the meat is to be banned a few months later by the hormone rule
the proposed tax is designed to provide the ec with extra cash to finance community oilseed crops at their current levels and to brake a dramatic decrease in olive oil consumption by making it more competitive with other oils
shr 47 cts vs 40 cts net 4399000 vs 3768000 sales 766 mln vs 680 mln year shr 179 dlrs vs 184 dlrs net 16701000 vs 17159000 sales 2917 mln vs 2691 mln note fiscal 1987 year based on 53 weeks compared wqith 52 weeks a year earlier
the notes have an 11 5 8 pct coupon and were priced at 9950 salomon said
japan line said then that the yens steep rise and the world shipping recession had hit the company hard
qtly div nine cts vs eight cts in prior qtr payable march 31 record march 13
gaf gaf seeks all of borg warner bor 
australian markets are booming as foreign fund managers redirect capital away from the united states and other traditional markets analysts said
qtly div 36 cts vs 36 cts pay april 30 record april 7
the value of non residential projects rose 76 pct to 9276 mln dlrs in the month
a company spokesman said the proposals appear to have been made in todays edition of the japanese daily asahi by fumio watanabe head of a telecommunications committee with the federation of economic organisations
amoskeag bank shares inc and portsmouth savings bank said they will file motions for a rehearing with the new hampshire supreme court of its march 30 ruling that overturned state regulatory approval of amoskeags acquisition portsmouth
west german producer prices fell 03 pct in february from january and were 42 pct below prices in february last year the federal statistics office said
the company said ice creations had sales of 12 mln dlrs in the year ended may 31 1986
in announcing the transaction computerland said the acquisition will provide it with resources and support to maintain and expand its leadership position in the computer retail industry
100 21 francs per 50 franc nominal participation certificate vs 20 group turnover 836 billion francs vs
shr nine cts vs eight cts net 373000 vs 269000 sales 3501000 vs 2507000 avg shrs 4036000 vs 3326000 note periods end january 31 1987 and 1986 respectively
the specialty retailing area continues to pay off for fw woolworth co once known only as a five and dime store chain which said its 1986 income rose 21 pct
while many believe producers will not seek to add to the overburdened stock situation in the us others believe some will ship outside of the quota requirements in lieu of monitoring controls trade sources said
yugoslavia failed to make a principal repayment due last month which had already been postponed by 90 days
black and decker corp is raising 100 mln dlrs via an offering of notes due 1997 yielding 840 pct said lead manager first boston corp
that gives deficiency payments to farmers if corn prices stay low
in 1986 profits from continuing operations slumped to 1395 mln dlrs or 154 dlrs a share
its approximately 14 billion dlrs of loans to the four major latin debtor countries account for 110 pct of year end equity and reserves
lance inc lnce 1st qtr net
monetary sources have said a fully blown meeting of the group of seven is expected to begin around 3 pm local time 1900 gmt and last at least until 6 pm 2200 gmt when a communique is expected to be issued
us urges japan to open farm market further
montedison said it named ettore dellisola to the newly created position of president of agrimont
spokesman for armco inc as and bethlehem steel corp bs said the proposed price hike was under study
cnt said quantum bought the shares by exercising 15 mln dlrs in warrants bringing its total investment in cnt to 25 mln dlrs
norways boycott although forbidding crude oil shipments to south africa on norwegian owned tankers makes an important exception for ships whose final destination is decided while they are at sea
the indian state trading corporation purchased 46000 tonnes of vegetable oils at its import tender on friday market sources said
analysts noted this was necessary to ensure rolls a credit rating to match those of its main competitors such as general electric co gen and united technologies corps utxn pratt and whitney unit
the treasury proposed allowing temporary imports of south african uranium ore and uranium oxide until july 1 under certain conditions pending clarification of anti apartheid laws passed by congress last fall
qtly div 30 cts vs 30 cts prior pay april 16 record april three
employment in manufacturing during fiscal 1987 88 was predicted to fall 550000 from the current year due to higher job losses in the steel shipbuilding and heavy electrical machinery sectors nomura said
sri lankan minister seeks loan facility from imf
total daily borrowings in the week fell 99 mln dlrs to 591 mln dlrs with extended credits down 35 mln dlrs at 230 mln dlrs
s and p noted that the combined entity would have assets of more than 24 billion dlrs making it one of the largest us bankholding companies
shr 77 cts vs 107 dlrs net 14455000 vs 20083000 sales 3344 mln vs 3485 mln nine mths shr 240 dlrs vs 304 dlrs net 4500000 vs 56928000 sales 9874 mln vs 104 billion
canadian pacific ltd said fourth quarter 1986 operating profit rose to 916 mln dlrs or 30 cts a share from 507 mln dlrs or 20 cts a share a year ago
on the one hand its probably a cheap price
cra sold forrest gold for 76 mln dlrs whim creek
shr 51 cts vs not given net 4661000 vs 2499000 note net includes securities gains of 663000 dlrs vs 1173000 dlrs
the smaller coins will be in denominations of a half ounce a quarter ounce and a tenth of an ounce
macandrews and forbes group inc said it began an 1850 dlr a share cash offer for all common stock of revlon group inc it does not already own
brazil and its bank advisory committee agreed to transmit a request for an extension of short term credit lines totalling 16 billion dlrs for 60 days until may 31 brazilian central bank president francisco gros said
about 95 pct of the surplus was from taiwans trade with the united states according to official figures
ec farm lobbies back oils and fats tax plan
rowe price associates said its first quarter earnings rose about 50 pct from the year ago 2634000 dlrs and revenues about 30 pct from the year ago 242 mln dlrs
the philippine proposal together with argentine suggestions that exit bonds be issued to end the troublesome role of small banks in the debt strategy would help to underpin the flagging role of private banks within the plan the official said in an interview with 
philippines to repay some principal in 1987 89
feldstein one of four members of a task force on third world debt said that brazils request would mean an additional credit of three billion to four billion dlrs from banks and international agencies
however haughey said ireland had in the past used its position within the ems to make borrowings in europe at favorable interest rates notably for onlending to its farming sector
this move follows similar cuts by four major british clearing banks led by national westminster bank plc nwbll lower rates were signalled by the bank of england this morning in an attempt to curb recent upward pressure on the pound market sources said
in 1986 dow earned 741 mln dlrs an increase from 1985s 58 mln dlrs brought about by falling oil prices and resulting cheaper feedstock costs
but the withdrawal from nontraditional businesses is weakening consolidated leverage narrowing funding operations and depressing the quality of earnings moodys stressed
domestic sales decreased 44 pct to 355 mln dlrs from 371 mln dlrs and foreign sales expressed in us dlrs rose 79 pct the company said
kurt viermetz worldwide treasurer of morgan guaranty trust co told arab currency traders meeting here that the steady depreciation of the dollar had not gone far enough to rein in us deficits on a lasting basis
the 1987 report said gross national product would only expand a real 17 pct this year below previous expectations because of weaker exports
canada seeks five year farm reform plan
reached later a bankamerica spokesman said the company would record a pretax gain of 45 mln dlrs from the transactions
waste management wmx board okays modulaire buy
the three pct payment will be due july 15 1987
the trustee said the company outbid wtd industries inc for the lumber mill harvested logs and contracts to harvest timber in the national forest
sudan is 450 to 500 mln dlrs in arrears to the international monetary fund imf which last year declared it ineligible for fresh loans
shr 30 cts vs 36 cts net 1211000 vs 1428000 revs 1536000 vs 1743000 year shr 136 dlrs vs 62 cts net 5438000 vs 2498000 revs 6567000 vs 2971000 note company began operations after its july 29 1985 public offering therefore annual data are not directly comparable
mulford rejected congressional ideas for a debt facility as being far too costly to creditor governments and ultimately taxpayers
groundwater technology inc gwti 3rd qtr jan 31
he said we will be able to define a movement either towards market stability and price recovery or depending on the market a reversal earlier this week hernandez said venezuelas oil price has averaged just above 16 dlrs a barrel for the year to date
allied supermarkets inc said it filed a registration statement with the securities and exchange commission for a proposed merger with the vons companies a supermarket combination store operator
bally manufacturing corp said it completed the acquisition of the golden nugget casino hotel in atlantic city new jersey from golden nugget inc
anzola said exchange rates for these transactions will depend the type of investment the creditor intends to make with export oriented companies to be favored
cnt issues 20 billion yen eurobond
ibm ibm to redeem 250 mln dlrs of notes
american airlines to announce buys newspaper says
the lower sales were due to the fall in the dollar and other currencies against the mark
between july 1 last year and january 31 britain bought 274665 tonnes against 642800 tonnes onic figures showed
becor bcw to adjourn delayed holders meeting
baker remarks aimed at confirming accord miyazawa
kenya debt servicing to absorb most aid moi
its granite state electric unit plans to issue five mln dlrs of long term notes early this year as well
us trade representative clayton yeutter said the united states and argentina have settled a case brought by the us soybean crushing industry alleging unfair subsidies to argentinas crushing industry
moodys said the changes reflect the reduced levels of debt protection resulting from gelcos restructuring efforts
the government daily izvestia said a considerable amount of soviet winter crops need to be reseeded and the state 1987 grain harvest target of 232 mln tonnes will not be easy to fulfil
crazy eddie crzy sets defensive rights
kapok corp said it is in techical default of its loans from southeast banking corp stb and murray steinfeld but is negotiating with the lenders
management said it would give consideration to this matter at a later time
it said seven oaks direct management will own the remaining 20 pct
commonwealth said westfair originated 60 mln dlrs of residential mortgage loans during 1986
the semi official anatolian agency said naval vessels ended their close protection of the ship as it continued work in turkish waters but were following it at a distance
shr 27 cts vs 17 cts net 5584000 vs 4276000 revs 977 mln vs 839 mln nine mths shr 84 cts vs 39 cts net 177 mln vs 9848000 revs 2908 mln vs 2418 mln avg shrs 211 mln vs 251 mln
we do not have anything actively under consideration he said
the group announced the issue with its first half earnings and said in a statement that the rights issue will be followed by a one for four bonus issue
the non callable bond is available in denominations of 5000 dlrs and will be listed in luxembourg
perelman never does anything without a fair amount of calculation he said
american express is in a position where they can raise capital if they need to said larry eckenfelder of prudential bache securities
analysts see another draw reflecting historic seasonal trends
wage increases are being offset by productivity growth
the new price for continuous galvanizing grade alloyed with controlled lead and aluminum additions is 37 3 4 us cents and 50 1 4 canadian cents a pound
phh group phh regular qtly dividend
he told a lower house budget committee in parliament that it was natural for other nations to think that japan is not doing enough because of the delay in the passage of the 1987 88 budget
dave carter president of the us beet sugar association said plantings may be up in two major beet growing states california and michigan while sowings could be down slightly in the largest producing state of minnesota
denominations are 1000 and 5000 dlrs
sdc sydney development corp earlier reporting an increased nine month operating loss said a cost control review now underway may result in cost reduction and elimination of unprofitable and non strategic products and services
french gdp should rise 23 pct in 1988 ministry
official figures show that forward us dollar sales in may reached a record of almost six billion us dlrs against 59 billion in april
stewart sandwiches inc said it has sold its coffee roasting plant to sara lee corps superior coffee and foods subsidiary for undisclosed terms
nerco inc said its oil and gas unit closed the acquisition of a 47 pct working interest in the broussard oil and gas field from davis oil co for about 225 mln dlrs in cash
however with many producers starting to swing in favour of the consumer position that quotas have to be re allocated under a new formula brazil is becoming increasingly isolated which gives at least some hope of a compromise at the ico quota meeting in september the official said
imf urges belgium to make further spending cuts
it was really an enormous drop a reduction in rates and that to me is the critical element he told 
this throws up the economic abyss of recession in the us with obvious knock on effects on the rest of the world but some economists added that wall streets crash which dragged other major markets down with it may help curb the very problems that sparked the turmoil namely world inflation fears and the massive and persistent us trade deficits
analysts said they do not believe a much higher offer could be made for american medical
ferruzzi announced last week it had agreed in principle to buy the cpc operation for 630 mln dlrs
economists have been banking on an improved trade performance this year to stimulate an otherwise sluggish canadian economy
treasury secretary james baker told the house appropriations committee that he believes the president remains opposed to an oil import fee
it said a 59 billion dlr capita budget for the three year period 1987 1989 was also outlined at the board meeting noting this is 700 mln dlrs below the comparable figure for the years 1986 1988
terms of the acquisition were not dislcosed
a 50 pct cut in the import tariff for soybeans should help boost 1987 us soybean exports to taiwan a spokesman for the joint committee of soybean importers told 
taiwan announces new round of import tariff cuts
comalco ltd cmacs said its return to profit reflected reduced costs improved primary aluminium prices and its withdrawal from a japanese smelter venture
commission officials did not rule out retaliatory measures if after a gatt decision against it washington failed to bring the disputed section into line with international rules
from the third year the bonds will pay interest at a rate of four pct over six month london interbank borrowed rate libor they will be issued in denominations of 50000 dlrs and will be listed in luxembourg
procedure increased fourth qtr income 73000 dlrs or two cts per share
but the accounting change effective january 1 will reflect only cash received through interim rates approved by the commission pacific gas and electric said
an exxon spokeswoman confirmed that raymond had specifically mentioned refineries in france but said that no specific refinery had been named
fees are 1 1 4 pct for selling and 5 8 pct for management and underwriting
also issued today was a 40 mln dlr five year offering from toshiba international finance netherlands carrying a 7 3 8 pct coupon and priced at 101 1 2
unemployment was likely to rise to almost six pct from 52 pct last year due to the slack economic activity
mcintyre said it retained an unspecified royalty interest in smoky river coal based on net operating cash flows from the companys coal properties
the report also could not be confirmed by several bank dealers
brazil seamens strike ends
great northern nekoosa gnn announces split
endevco said it plans to extend its existing mississippi fuel co system in southern mississippi 18 miles to the new pipeline
an ordinary ship is compartmentalised and you have more stability he said
odyssey filmpartners ltd said is terminated discussions to acquire united color labs pursuant to a jan 27 letter of intent for it to buy the company for stock and cash
mark resources inc said it agreed to sell 503 mln dlrs of securities to canadian investment dealers nesbitt thomson deacon inc gordon capital corp and first marathon securities ltd
employment in manufacturing during fiscal 1987 88 was predicted to fall 550000 from the current year due to higher job losses in the steel shipbuilding and heavy electrical machinery sectors nomura said
while total sales and income rose 55 pct to 1068 billion dlrs from 1013 billion dlrs costs and expenses rose 121 pct to 961 billion dlrs from 857 billion in the quarter the computer maker said
the operation will raise the outstanding supply of the bills to a record 4800 billion yen
banner industries inc said 198 mln of the outstanding 20 mln shares in rexnord inc were tendered pursuant to its 2625 dlr a share offer that closed at midnight est feb 27
but the commission said imposing the ban would encourage the use of unleaded fuel as well as making it easier for gas stations by cutting the number of types of gasoline they had to stock
the weightings also likely if lending ratios are extended to include banks securities portfolios are zero for public authorities 20 pct for domestic banks 50 pct for foreign banks and 100 pct for other foreign and non bank borrowers
shr primary loss eight cts vs profit 49 cts shr fully diluted loss eight cts vs profit 45 cts net profit 681000 vs profit 115 mln nine mths shr primary profit 33 cts vs profit 236 dlrs shr fully diluted profit 33 cts vs profit 192 dlrs net profit 127 mln vs profit 475 mln assets 1053 billion vs 1075 billion deposits 598 billion vs 589 billion loans 844 billion vs 909 billion note 1987 nine mth figures include gain of 2470000 dlrs from cumulative effect of an accounting change
macandrews said it increased its offer to purchase all revlon common shares to 2010 dlrs a share from its april 1 offer of 1850 dlrs a share
weve been sitting back and waiting on two federal administrations to develop a coherent energy policy for the nation to follow
after july 1 dividends will be tax free to shareholders provided they come out of earnings on which the full 49 pct company tax rate has been p27id
one trader said permanent damage to export prospects can be avoided if an agreemend can be reached soon but the situation will become more serious as time passes
earnings were hit by lower sales and by the lower value of the dollar and currencies in other important markets
franklin minnesota sets monthly payout
the japan fund inc said it has received an unsolicited offer from sterling grace capital management lp acting together with certain other persons and entities to purchase all the assets of the fund at five pct below its aggregate net asset value
galactic said under the prior accounting policy the summitville mine expenses would have been amortized over the life of the mine and charged against future earnings
they said west germanys objections were put in a letter this weekend from chancellor helmut kohl to jacques delors the president of the ecs executive commission which had put forward the proposals last month in a bid to avoid a new ec cash crisis
volkswagen ag vowgf vw is due to make a formal announcement about its 1986 dividend tomorrow after saying the 1985 level of 10 marks per ordinary share would be held despite massive losses because of a suspected foreign currency fraud
shr 57 cts vs not given net 6889000 vs 107 mln nine mths shr 167 dlrs vs not given net 201 mln vs 230 mln note company went public in november 1986
at those talks baker apparently convinced goria who declined to attend the february meeting of the group of seven in paris that italy would participate fully in any meaningful decisions
the atpc launched a plan to limit member tin exports to 96000 tonnes for a year from march to cut the tin surplus to 50000 from 70000
1986 net includes reversal of 597000 dlrs of reserves no longer deemed necessary and tax credit 340000 dlrs
the second figure which would always be lower by deducting freight and insurance presents the deficit in a more favorable light for the reagan administration
as previously announced the transaction is valued at about 88 mln dlrs including 28 mln dlrs in debt
he said the new move was intended to balance trade between taiwan and its trading partners
british chancellor of the exchequer nigel lawson told journalists that one of the technical issues raised by greater coordination of exchange market intervention was the question of which currencies should be used to intervene and held in central bank reserves
note div pay aug 6
ore production totaled 650653 tons last year it said estimating year end reserves contained about 627000 ounces of gold and 265 mln pounds of copper
by 1988 overall revenue growth should rise to about 16 pct against 58 pct growth in 1987 and 24 pct in 1986 martin said
the company received its initial public listing in december
of that the securities operations of prudential bache netted 817 mln dlrs after taxes and a charge of 25 mln dlrs
the scheme which covered a two year period allegedly involved vaskevitch leaking information to sofar about looming takeovers and mergers some of which he worked on according to the complaint
despite the figures the budget forecast of about 175 pct annual growth in employment would be met keating said
the company said shareholders will be asked to approve the split at the annual meeting on april 29
frances bfce issues 150 mln dlr eurobond
information ministry officials said the price freeze was aimed at protecting poor ecuadoreans from a wave of specualtion
general mills inc 3rd qtr shr 64 cts vs 52 cts
kingsbridge masco set merger
the agency said the rise in the merchandise surplus to 277 billion dlrs from 220 billion dlrs in the third quarter was more than offset by high deficits in servicies and investment
under the new law the government will insure japanese companies who pre pay for imports against loss arising from everything from war to bankruptcy of the foreign firm they are dealing with
a shareholder group led by far hills nj investor natalie koether said it raised its stake in computer memories inc to 573300 shares or 51 pct of the total outstanding from 542000 shares or 48 pct
cooper said the state department did not object to the sales but secretary of state george shultz indicated he may weigh in against the deal
bristol myers bmy reviewing scimed merger
carolyn bean publishing ltd said it has completed the acquisition of greeting card company millen cards which had sales of over 1500000 dlrs in 1986 for undisclosed terms
the company is more concerned than ever about improving their relative valuation with respect to ford and chrysler he said
we are determined to stand firm and will certainly win the united states disclosed last week it was beefing up its gulf fleet from seven to 10 warships and also sending the refurbished battleship missouri to patrol just outside the strategic strait of hormuz entrance to the gulf
novatronics makes military specification power supplies and avionics components for various prime government defense contractors
the ministrys parliamentary state secretary ludolf georg von wartenberg told a business conference german exports could start rising again in real terms during 1987 reversing the lower export trend which emerged in mid 1986
us frozen orange juice stocks march 1 102618000 gallons vs 97111000 year ago
the international cocoa organization icco buffer stock working group began examining a draft proposal for buffer stock rules this afternoon delegates said
sumita says bank will intervene if necessary
i dont think its worth much more than where it is said joseph doyle of smith barney
gros said he wished the 90 day rule was more flexible and said he would be willing to sit down with the banks to see if there was a way round the problem
between 1982 and 1985 riyad bank ncbs rival as the second biggest of the two all saudi shareholding banks had covered 128 pct of its loans and advances
haughey to seek ec advice on irish debt
monetary sources also said they understood that secretary baker considered the meeting to be extremely successful in the light of the japanese announcement
roeller said action on the debt situation had to be taken now
they died while guarding a chokepoint of freedom deterring aggression and reaffirming americas willingness to protect its vital interests reagan said
though amc issued a statement saying that it was studying the proposed buyout and had no other comment glantz said he regarded the proposal as a done deal because i cant believe anybody else would make a bid its a reasonable deal for both sides the analyst told 
he also cited the recent declines in the dollars value
as far as i am concerned and the company is concerned they are rumors and were not commenting on rumors spokesman michel dufour told in response to a query
the accord effectively extends a moratorium on most repayments of 13 billion dlrs of south africas short term foreign debt
the profit figure of 1153 mln stg exceeded a forecast by some 10 pct made during the hostile bid by dixons group plc dxnsl last year and the company said the results were a major step towards the aim of making woolworth the most profitable retailing group in the uk it aimed to produce growth from all its businesses and look for opportunities to acquire specialist retail businesses
it said the government and private exporters shipped 36552 and 38608 tonnes respectively
f
national pizza co said it reached an agreement in principle to buy seven straw hat pizza restaurants and certain related real estate for approximately three mln dlrs in cash
the convention requires that lead managers draw up a prospectus naming all syndicate members and providing certain details about the borrower
todays quiet market continued a lull of several days in which traders were said to be waiting on the sidelines ahead of further clues to the direction of oil prices and the saudi economy
funaro said however he was told creditors understand brazils position and do not wish to make the negotiation for the renewal of the credit lines more difficult
the minnesota senator said he might offer the bill on the senate floor or in a conference committee with the house of representatives in the event a similar bill before the house agriculture committee is approved by that body
finance minister kiichi miyazawa said that the dollars drop today to 145 yen is partly attributable to the perception inside and outside japan that the country has failed to fulfill its promise to expand domestic demand
in 1986 it cut about 850 positions
oper shr five cts vs six cts oper net 1100000 vs 1463000 revs 1778 mln vs 3315 mln avg shrs 219 mn vs 257 mln first half oper shr six cts vs five cts oper net 1121000 vs 1090000 revs 3153 mln vs 5674 mln avg shrs 206 mln vs 256 mln note operating net excludes gains of 659000 dlrs or three cts a share vs 599 dlrs or two cts a share in quarter and 676000 dlrs or three cts a share vs 599000 dlrs or two cts a share in year from tax loss carryforward
distribution of export quotas should be in the hands of producers as has been traditional dauster a delegate at the recent coffee symposium here told journalists
gencorp stock closed yesterday in composite tape trading at 9050 dlrs a share up two dlrs on the day
the dollar is stable again the current level is the appropriate level heller told reporters after a speech to a meeting of financial services analysts
shr 21 cts vs 10 cts net 10798000 vs 4704000 revs 474 mln vs 329 mln year shr 58 cts vs 54 cts net 291 mln vs 258 mln revs 1877 mln vs 1347 mln note 1986 net includes 28 mln dlr extraordinary gain in 4th qtr and 65 mln dlr fl yr extraordinary loss involving provision for decline in market value of marketable securities partly offset by gain from sale of stake in dome petroleum ltd dmp
the threat of a stoppage by oil industry employees appeared today to be receding
it said it acquired guard service companies csc security gaurd service of paramus nj from cartel security consultants inc the guard services division of security services of america of wayne nj capital investigations and protective agency of hackensack nj and meyer detective agency inc of national park nj the company said it bought alarm service operations certified security services inc of key west fla custom security services of myrtle beach sc a t e security group inc of houston and the louisville kent and nashville tenn offices of wells fargo alarm services
the yens appreciation continued to affect employment in manufacturing industries and the total employed in may fell 210000 or 15 pct from a year earlier to 1410 mln
russell said the bank had two statutory responsibilities to implement the governments monetary policy to bring down inflation and to ensure the financial sectors stability
mr
hunt group has comdata stake seeks influence
those resources are a reflection of very real concerns on our part in dealing with a very difficult problem wilson said in response to questions about management of the economy from opposition party members
many debtor countries had realised that it was not possible to mobilise capital flows and especially direct investments without such policies stoltenberg said
banking authorities and police are investigating an alleged fraud by the second largest trading house in the caracas free foreign exchange market finance minister manuel azpurua told reporters
on september 20 the friday before plaza it was 242
yield grade 2 3 beef cuts fabricated items vacuum packed
they said the market must have misinterpreted bakers comments because he was referring to the dollars fall since the plaza agreement in september 1985 over a long time span not the currencys recent movements
poehl said the bundesbank had tolerated rapid money supply growth last year because the country enjoyed low inflation and because external factors including low oil prices and favourable terms of trade had given some extra leeway
one rural vote is worth several city votes due to the pattern of constituency borders
economists said that since the large devaluation of the zaire currency in september 1983 the country suffered a net outflow of 830 mln dlrs each year
central bank president jose luis machinea said argentina may not receive the 215 billion dlrs in bank loans it is seeking until september which would be a year after negotiations began with the international monetary fund
paper will have maturities between seven and 183 days and will be issued in global and definitive form
if the stalemate continues much longer analysts expect the coffee agreement will end up operating without quotas for the remainder of its life to september 30 1989
while bra kanon is due to return home this week for funeral ceremonies for a sister of ivorian president felix houphouet boigny scheduled to be held in the countrys capital yamoussoukro between march 19 22 senior ivorian delegates will be present throughout the london talks the official said
but he said in a speech and remarks to the heritage foundation that in the end the marketplace will ultimately rule the day asked about the future of the dollar he said that whether or not it would rise or fall depended on economic policies and coooperation among trading nations
westmin resources ltd said it plans to increase capacity at its myra falls british columbia base and precious metal mine and mill complex by 33 pct to 4400 short tons of ore a day subject to regulatory approvals
the zero coupon portion could provide value for an account which for tax purposes wants to take a large capital loss the traders said
iroquois brands ltd ibl 4th qtr loss
dealers said call money was soft because tax payments on behalf of customers had been less than expected so far
revenues from trails smelter totaled 356 mln canadian dlrs in 1986
durkin was re elected to the board the company said
money market dealers said period rates remained little changed indicating no change in credit policy was expected
the important implication of the maekawa report is that it is finally looking to let japanese enjoy the fruits of their labour said philip caldwell senior managing director of shearson lehman brothers
the bank of england said it revised up its estimate of the deficit in the system today to 13 billion stg from 11 billion
the bank said the loan will be used to boost production by injecting gas in the partially depleted assam oil fields and to assist exploration in other areas including drilling 10 exploratory wells
agip carbone and atlantic richfield coal an arco subsidiary have formed a consortium which will own 48 pct of the carbozulia project whose total cost is estimated at 500 mln dlrs the company said
gary associates made no mention of a possible takeover attempt in its report to the sec
northgate exploration ltd said hourly paid workers at its two chibougamau quebec mines voted on the weekend to accept a three year contract offer and returned to work today after a one month strike
current management of the division will remain
most expect fed policy to be neutral for bonds near term
the tin price is likely to rise to 20 ringgit a kilo this year because of the producers accord on export quotas and the reluctance of brokers and banks to sell the metal at lower prices a malaysian government bulletin said
canada zero issues canadian dlr zero coupon bond
based on estimates of a larger work force block could show a gain of more than five pct in tax forms prepared he said
it is located 30 kms east of the adelaide river at mt
but bundesbank statistics showed that net borrowing through bonds was 266 billion
electro audio dynamics inc ead 2nd qtr jan 31
denmarks balance of payments on current account was provisionally put at zero in february against a 181 mln crown surplus in january and a 15 billion deficit in february 1986 the national statistics office said
rodman and renshaw capital group inc said its directors approved the repurchase of up to 200000 shares of the companys common stock on the open market from time to time
sen
german industrial employment seen stagnating
but a seventh accord we believe to be unnecessary the sixth ita will expire at the end of june unless a two thirds majority of members vote for an extension
commercial and industrial loans on the books of the 10 major new york banks excluding acceptances fell 572 mln dlrs to 64297 billion in the week ended march 11 the federal reserve bank of new york said
reading co rdgc 4th qtr oper net
comprehensive care corp cmph 3rd qtr net
london floating rate note prices open sharply lower dealers say
total food aid needs in 69 of the least developed countries declined in 1986 87 as requirments fell in many countries in africa the middle east and asia the us agriculture department said
wr grace gra debt affirmed by s p
the company said the redemption price is 1080 dlrs per 1000 dlrs of principal amount of debentures plus accrued interest from feb one 1987 to april 10 1987
net proceeds from the sale will be used to refund obligations under the companys belle river project financing and to refund or replace funds utilized by the company for the purpose of meeting debt and equity obligations
a severe drought and marketing problems cut exports last year to under 10 mln bags
oper shr one ct vs two cts oper net 30000 vs 62000 revs 2315000 vs 2355000 year oper shr four cts vs nine cts oper net 95000 vs 204000 revs 9214000 vs 9950000 avg shrs 2492000 vs 2351000 note full name is arden international kitchens inc more
the bank of england said it has forecast a flat position in the money market today
the company said it bought 33 lots in colorado from richmond homes ltd an mdc unit in return for 650000 dlrs in promissory notes and 440000 dlrs in preferred stock
the acquisition expected to be treated as a pooling of interests is expected to be completed in the third quarter of 1987 subject to approval by regulatory agencies and first state shareholders
oil prices rise on saudi effort
if they dont then in the long run there will be a default ortiz mena warned that latin america needed to reverse the capital outflows from the region and beyond that needed more resources
our investigator is there already
american travellers atvc to make acquisition
there have been acquisitions in this area
it said consumer prices rose 989 pct over the last 12 months against 819 pct inflation in the calendar year 1986
refco inc senior vice president michael connery also noted that the market is showing very little momentum and lacks retail interest
the company said that magnum abs resins for pipe extension will increase three cts a pound effective april 9 as previously reported
antara reported that siregar said the government wanted to help boost exports from the rubber and palm oil industries which are centered in sumatra
year on year private sector credit psc grew 3107 pct in january against 3064 pct revised from 3068 in december and 2140 pct in january 1986
the lower estimates are supported by the belief that crude runs increased and imports fell
olin oln du pont dd complete plant
aide says france supports oil and fats tax
capitalisation is projected at 60 mln dlrs with foreign aid including soft loans from international institutions
rates in the us were however rising as evidenced by the latest prime rate moves but this rise would be moderate
live cattle exports are in addition to the meat purchase requirements the department said
this year should be the fifth solid year in a row for homebuilding activity with single family units stronger than multi family units he said in a statement
schlueter made clear that an autumn general election would not make the government postpone any austerity measures
the bank has also agreed to publish information about the auction results as soon as possible after the sale is complete which is widely expected to be on the same day
the government national mortgage association has decided not to raise its guarantee fee on mortgage securities louis gasper ginnie mae executive vice president said
the court was told that since 1976 the company had made an annual provision of around 750000 stg for the eventual cost of abandoning a rig
i dont think we would have any objection to it he added
an ec negotiator taking part in the three day talks said we wanted the territorial clause in but comecon said no a joint statement issued after the talks said progress was made towards clarifying positions but another meeting would be necessary to complete the work
he said he was also concerned by the decline in domestic oil exploration
all these matters would be considered during the informal meetings
latest year net includes gain 418000 dlrs for first nine months from change in pension accounting for which results of first three periods restated
australian beef output is forecast to decline to 134 mln tonnes carcass weight in 1987 and 136 mln in 1988 from 144 mln in 1986 the australian meat and live stock corp amlc said
similar campaigns are needed in egypt yemen iraq and iran
vms mortgage lp vmlpz monthly cash payout
oc birdair is a joint venture of chemical fabrics and owens corning fiberglas corp ocf and down corning a venture of dow chemical co dow and corning glass works glw chemical fabrics said once the current project backlog of dow cornings odc division is completed dow corning plans to discontinue its design engineering fabrication and installation services
he expects 25 pct first quarter growth but said that second quarter growth could be zero or negative
the week was the second half of the two week statement period that ended wednesday
spar added that lower development costs in the communications group and a return to normal operations in gears and transmissions and aviation services will remove a serious drain on profits this year
dealers said they were somewhat relieved to see that bank regulators recognized the concept of netting that is offsetting the amounts receiveable from and payable to a single counterparty against each other
only the cash portion of the payments will be subject to the 43 pct reduction in compliance with the gramm rudman budget deficit control act of 1985 it said
japan has come to symbolize what we fear most in trade the challenge to our high technology industries the threat of government nutured competition and the multitude of barriers to our exports senate democratic leader robert byrd said
bangemann denies newspaper interview on subsidies
the sources said only 80 personnel can be housed in remaining accomodations the sources said
it said chile will supply copper at preferential rates to the venture whose equipment comes from wednesbury tube co of uk the agreement calls for joint sino chilean management of the venture for 15 years the paper said
i think the tidal wave in energy has passed over us he said
government economists forecast that the external current account deficit will fall to 19 billion crowns this year
the lme board in response to representation from the trade agreed to annul from lme contracts the minimum weight requirements of 450 kilos for t bars and 250 kilos for sows effective for high grade on june 1 and for standard on july 24
share analysts said they saw supervisory board approval of the management board proposal as virtually a formality
january business inventories rose 09 pct the largest gain since july 1979 when inventories rose 17 pct the commerce department said
the group said it had held discussions with third parties to gauge their interest in joining the shareholder group but no agreements were reached
it carries a 1 1 8 pct margin over libor with a seven year maturity and four years grace
the selling concession is 1 1 2 pct while management and underwriting each pay 1 2 pct
in london yesterday chairman of belgian starch producer amylum nv pierre callebaut told that since ferruzzi was apparently still organising finance his company might still succeed with its rival bid for the cpc business
the walkout by brazils 40000 seamen has idled 160 ships in various ports jorge luis leao franco a senior official of the national merchant marine union told 
in the first quarter of 1986 marine midland reported record earnings of 382 mln dlrs bolstered by certain non recurring securities gains
he is due back in brasilia next wednesday march 11 the sources added
if the banks thought that that was a suitable way to go fine
it said results outside the northeast were strong and it expects to show improved results for the rest of the year
one dealer said if the central bank wanted lower interest rates it would first of all drive call money rates down banks remained relatively well stocked with minimum reserve assets
he declined to be more specific
proceeds will be used for the companys construction program and to reduce short term debt that may be incurred from time to time for interim financing of such building philadelphia electric said
production in the november 1986 to january 1987 period totalled 129 mln tonnes
as with the proceeds from the earlier limited partnership the money will be used for general corporate needs the spokesman said
shr profit three cts vs loss seven cts net profit 161000 vs loss 367000 revs 243 mln vs 265 mln
they compare with 785800 tonnes of oilcake and meal and 407400 tonnes of crude vegetable oil produced in 1985
hanson trust han completes kaiser purchase
first of america bank corp said it completed its affiliation with lewiston state bank of lewiston mich
fed to release us april consumer credit june 5
santa fe southern pacific appeals merger ruling
argentina is expected to qualify for imf balance of payments financing which would enable argentina to repay a multilateral bridge loan and support the implementation of its economic program the statement said
the report dated april 3 said the region accounts for about 22000 hectares of the italian orange crop or about 26 pct of total production
algeria has moved at least two cargoes of propane to the us gulf keeping mediterranean prices steady traders said
consolidated bathurst inc said it expects improvement in the pulp and paper sector shown in the second half of 1986 to continue this year
duff and phelps first monthly dividend of four cts was paid on march 10 it noted
atlantic richfield oil co said it expects first quarter net income to cover its dividend requirements in the quarter
argentina has pressed hard for a streamlining of the lending process because it has bitter memories of its last package which was agreed with the citibank led steering committee in december 1984 but not signed until august 1985
each common share would be entitled to at least the same dividend as each class b share which would not be freely transferrable for five years but could be converted share for share into common at any time
italys overall balance of payments showed a 919 billion lire surplus in september against a deficit of 1026 billion in august provisional bank of italy figures showed
the 1986 maize crop was officially estimated at 21 mln tonnes but only a fraction of this was marketed with most grain consumed by the farmers who grew it
in its filings with the sec twa said it paid 1782 mln dlrs for its usair stock
finally there is a shortage of lorries to transport the crops
national distillers and chemical corp said it signed a definitive agreement to sell its spirits division for 545 mln dlrs to james beam distilling co a unit of american brands inc amb the sale of the spirits division was made under the companys previously announced plan to sell its spirits and wines businesses it said
bahia cocoa review
but the buffer stock can only buy 15 pct malaysian cocoa as malaysia is not an icco member while purchases of nearby cocoa can only reach 40 pct in any one day which forces the buffer stock to buy some intermediate and forward shipment material
in the quarter ended march 8 the group had a modest sales increase and major improvement in operating performance compared to the year ago quarter the company said
in nominal terms gnp rose 05 pct in the october december quarter reflecting stable prices after a one pct increase in the previous three months the agency said
smithkline beckman corp skb 3rd qtr net
general director hannes androsch said higher investment would lead to continuing growth in profits in future
the government has forecast an unchanged 25 pct rise in gross national product
in 1971 the sedren copper mine in gonaives operated by a canadian firm closed down after years of mining a concentrate containing gold as well as copper
dealers said the bank of france intervened to absorb liquidity to hold the rate at 7 3 4 pct
at that time directors also indefinately postponed a planned special shareholders vote on a restructuring proposal which would have created a class b common with 10 votes a share and limited transferability
the stock was issued to the bank at 9650 stg pct and will be available for dealings from march 11 with the remainder of the amount payable on may 5
sterling drug inc sty 3rd qtr net
if the notes are not redeemed at that time they will be non callable to maturity
dutch food retailer ahold nv ahlnas expects unchanged profits in 1987 but said it will take advantage of the lower dollar to expand further in the us turnover will grow but net profits are expected to remain around the 1986 level of 1324 mln guilders due to higher dutch taxes and a three year expansion plan ahold chairman albert heijn told a news conference
but it said growth may be higher in added value products in financial services and in other diversified businesses
shr 70 cts vs 42 cts net 2918000 vs 1746000 sales 683 mln vs 535 mln note 1987 net includes pretax gain 400000 dlrs from change in pension accounting
puritan bennedtt corp said it has acquired a majority interest in medicom inc which makes a heart monitor for use in diagnosing heart disorders for undisclosed terms
traders and internal trade department officials agreed last week to commission a study on a structure to regulate maize forward trading and to set up a company thailand commodity exchange co ltd with 30 businesses as shareholders who will act as brokers in the futures market
shr 112 dlrs vs 127 dlrs net 15000000 vs 11900000 avg shrs 9642403 vs 8322245 loans 457 billion vs 329 billion deposits 680 billion vs 475 billion assets 775 billion vs 537 billion
the accord was signed here yesterday by nigerian finance minister chu okongwu and senior french treasury officials after talks with coface the french export credit agency they said
us sells 3 mo bills at 598 pct stop 599 pct 6 mo 608 pct stop 610 pct
browning ferris industires inc said its board declared a two for one stock split payable april 24 to holders of record march 31
the former requirement called for three lead managed issues
embargoed for release at 1130 gmt thurs march 19 uk feb adjusted unemployment fell 44100 total 307 mln or 111 pct official
by mid year however the company said a reduced corporate tax rate should have a positive impact on its net income and cash flow
keating revises down australian growth forecast
ameritrust corp said it sold two mln shares of its common stock to an investment group named clevebaco ltd partnership
m 1 rose 25 pct after a 11 pct fall in december
marris does not expect the crisis to peak until later this year but he warned that the situation is so fragile that it would take very little to touch off what he calls the second phase of the hard landing whereby a loss of confidence in the dollar pushes up interest rates and leads to a recession
they will be issued in denominations of 1000 and 10000 dlrs and listed in luxembourg
third quarter net fell to 2060 mln dlrs from 2386 mln a year earlier and 2203 mln in the second quarter ended november 31 bhp said in a statement
dart group flexible on supermarkets sgl bid
asked by sen phil gramm r tex whether us intervention was not in fact overvaluing the dollar mulford replied that the administration judged that after economic adjustments current exchange rates reflect underlying economic fundamentals
shr loss eight cts vs loss 24 cts net loss 1150000 vs loss 3450000 revs 557 mln vs 781 mln
in a statement released by its london office minpeco said peruvian customs figures for bismuth exports for the first five months were 5748 tonnes compared with 1607 tonnes in the same period of 1986 and 4834 tonnes during the whole of 1986 minpeco said
celeron consists of oil and gas reserves and an almost complete pipeline linking drilling operations in santa barbara calif to texas refineries
he did not elaborate
a group led by new york investor asher edelman said he lowered its stake in lucky stores inc lks to 1827734 shares or 48 pct of the total outstanding common stock from 1930734 shares or 51 pct
import curbs on about 400 foreign goods including stationery and books would soon be relaxed he said
jack van fossen
all shipments are c and f taiwan
brazilian soy rainfall
current year net both periods includes 150 mln dlr pretax charge from previously announced restructuring of datachecker systems and semiconductor group manufacturing operations
last years output is estimated at between 133000 and 135000 tonnes
shr loss 130 dlrs net loss 256 mln revs 205 mln note prior results not given
the offer had been scheduled to expire at midnight october 21
shr 122 dlrs vs 128 dlrs net 2264 mln vs 2339 mln assets 8045 billion vs 7023 billion loans 3516 billion vs 3599 billion deposits 4522 billion vs 3968 billion return on assets 114 pct vs 135 pct return on common equity 1820 pct vs 2208 pct note 1987 qtr net was reduced by 20 mln dlrs because 13 billion dlrs of loans to brazil were placed on non accrual
the institute had made the revision due to poor prospects for austrian exports he added
k o p equity warrant bond expected to be swapped
he said the 21 storey wayfoong plaza was likely to be sold for about 280 mln hk dlrs but declined to identify the buyer
cross owner of about six pct of the companys stock who offered 34 dlrs a share and harcourt brace jovanovich inc hbj which offered 50 dlrs a share
furthermore that greenspan was not named two months ago suggests that he was not the administrations first choice and that the status of his appointment was as a bridesmaid horner said
the countrys palm oil stocks now total some 500000 tonnes against about 800000 last march the growers said
amstutz told subcommittee chairman rep
indonesia imported 162000 tonnes of sugar towards the end of last year and in early 1987 to boost low stocks
they said at this price it seemed unlikely that the full they added the decision is also designed to prevent massive offers of maize for intervention just ahead of the normal april 30 deadline which could be caused by speculation about the implementation of the accord with the united states
this transaction makes use of another sector of the capital markets that for short term note facilities to finance a medium term credit
it said it is raising its marine diesel oil posting by 30 cts a barrel to 2024 dlrs a barrel
basically their policies are pretty much the same but that did not mean europe would support the us or that the ec would climb on the bandwagon to take advantage of the us dispute to press its own claims wolf saidbasically europeans have a different approach to trade problems he said
moodys may lower gaf gaf borg warner bor 
this mornings sharp decline in coffee prices following the breakdown late last night of negotiations in london to reintroduce international coffee organization ico quotas will be short lived dutch roasters said
fairfax said it is too early to predict results for the full year
last septembers share offer which triggered criticism by underwriters about the handling of the sale opened at a substantial discount to its offer price resulting in losses for holders of the shares
cuba has told international sugar operators who have bought its sugar for shipment in march that these contracts will take second place to cubas direct shipments to its export markets dealers here said
bigelow said in adjusting the 1986 results for the special items and also removing the earnings of american television and communications corp atcma time earned 235 dlrs per share in 1986
payment is due may 14 and coupon date is may 15
total west german consumption was estimated at around a high 287000 tonnes largely reflecting attractive prices
us grain analysts see lower corn soy planting
bat said it increased new business by 38 pct in the last nine months after a relatively slow first quarter
wall street stocks loral corp lor 
qtly div 26 cts vs 24 cts prior pay april 30 record april 15
barley 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 yield bu 508 508 510 510 start stocks 325 325 247 247 production 610 610 591 591 imports 5 5 9 9 total 941 941 847 847 barley cont 1986 87 1985 86 04 09 87 03 15 87 04 09 87 03 15 87 usage mln bu feed 300 300 333 333 other 175 175 167 167 ttl domest 475 475 500 500 exports 150 150 22 22 total use 625 625 522 522 end stocks 316 316 325 325 avgprice 145 65 145 65 198 198 note average price in dlrs per bushel
taiwans stock market plunged a record 7553 points to close at 180308
before seasonal adjustment consumer credit outstanding totaled 57605 billion dlrs at the end of february compared with 53041 billion dlrs at the end of february 1986
the february trade surplus narrowed to 235 mln dlrs from 582 mln in january compared with a deficit of 98 mln dlrs a year ago
frawley is on a gulf tour which will also take him to saudi arabia the united arab emirates and kuwait to assess market potential
despite the low loads trees are said to be in excellent condition and recent flowering and pod setting which will lead to late temporao early main crop beans has been good
philadelphia electric co pe shelf offering of up to 15 mln shares of common stock through drexel burnham lambert inc
usair group said it sought the help of the us department of transportation in its takeover fight with trans world airlines inc asking the department to order twa to sell its usair shares
the trade bill forces the administration to act rapidly on complaints of unfair trade practices such as dumping products in the united states at prices below cost of production
it also said it was the largest shareholder of usair and threatened to go directly to usair shareholders with an offer for 51 pct of the stock at a lower price
they said the fed has a fairly large add need and is likely to face the most reserve dislocations early in the new statement period started today as corporate tax payments swell treasury balances at the fed
currency options pioneered by the phlx in 1982 had become an accepted means of hedging against foreign exchange risk and had grown in popularity he said
general motors corp staged an explosive rally on wall street after a share buyback program announced yesterday but analysts said gms future remains clouded by stiff competition and erosion of market share
the chubb corp cb sets qtrly payout
but prices should be somewhat higher than the present levels to justify development of the juha field he said
wilbur was not immediately available for comment
finance minister edouard balladur industry minister alain madelin and telecommunications minister gerard longuet met for more than an hour today to discuss the imminent sale of the french telephone switching group cie generale de constructions telephoniques a spokesman for longuet said
analysts have said they believe gaf chairman samuel heyman sought borg warner because of its chemicals and plastics business
turnover 9526 mln vs 9701 mln
funaro said he hoped next week to travel to talk to japanese and canadian government officials
the sugar is for march 15 april 15 shipment and bids are being sought based on the new york may delivery futures contract they added
capitol bancorp capb to restate net to loss
linotypes group turnover in 1986 rose 15 pct to more than 500 mln marks the bank said
the ten principal destinations during january december 1986 with comparative figures for the same period of 1985 in brackets were as follows in tonnes holland 2444260 2234049 belgium 546423 595635 italy 430029 338766 czechoslovakia 365897 236836 cuba 253067 222842 iran 250646 192430 west germany 232049 158491 bulgaria 207030 300488 spain and canary islands 176287 113751 corea 163304 37416 the board added
higher growth unemployment in france oecd says
but as with all paris club pacts specific interest rates and other details have to be negotiated on a bi lateral basis with the countries involved
the company also said it will continue in the medical development business as long as it is deemed to be advantageous
the dealers have got historically small positions in outright terms one trader said
for the year ended january 25 1986 general reported net income of 297 mln dlrs
mulford urged further development of debt equity swaps as well as broader mutual funds for conversion into equity
the bankers also expressed disappointment gros could not give assurances as to when interest payments on the 68 billion dlrs of medium and long term debt would restart
medium short grain rice in mln cwts 100 lbs cont
all we have seen today is some squaring up of positions she added
terms of the acquisition were not disclosed
moet hennessy issuing convertible eurobond
rjr nabisco said the charges reflect reserves it established to cover certain expenses
picketing ufcwu members at the plant did not disrupt operations a company spokesman said
i think the worst is over and we can look forward to stability and upward movement ahead however the usx chairman warned that european trading partners may resist the turn in the us trade deficit
the united arab emirates uae recorded a 1986 trade surplus of 122 billion dirhams narrowing from 302 billion in 1985 the central banks latest bulletin shows
the bonus was made to first interstate trading co and will be paid to the exporter in the form of commodities from ccc stocks the department said
in march 1986 the figure stood at 24 pct
notes on us supply demand tables na not available
it is emphasizing its new focus by changing its name to allegis as of may one
james river corp jr sets regular payout
uk delegates talk of stabilisation and the need for prices to reflect changes in market structure and price trends rather than dictate what prices should be
montedison concludes talks with antibioticos
anadarko petroleum apc sells convertible debt
damson oil dam converts mortgage bonds
proposals are on the table for a seventh replenishment of funds totalling 20 billion dlrs for the period 1987 90 plus 29 billion carried over from the sixth replenishment
the market requested and was assigned 8584 billion lire of the 11500 billion lire of 12 month bills offered at a net annual rate of 902 pct down from 905 pct previously
as with the 65 previous eep initiatives the export sales would be subsidized with commodities from the inventory of the commodity credit corp and made at competitive world prices usda said
apparel store sales were up 08 pct last month after falling 30 pct in january while sales at eating and drinking places increased 15 pct after rising 05 pct in january
cbi survey points to surge in uk output
mcdonalds an operator of fast food restaurants rose 1 5 8 to 77 3 8
moodys said it would study the proposed acquisitions effects on gencorps cash flow and debt protection measures and on afgs financial condition
they said this was despite the fact that the commission accepted over 785000 tonnes of sugar into intervention yesterday from traders protesting that rebates are being set too low
a gemina spokeswoman told we have nothing to say about the report a spokeswoman for milan based ambrosiano said we have no information at this time in february ambrosiano chairman giovanni bazoli said foreign and domestic firms have expressed interest in buying stakes in the bank
the bank of england said it provided about 25 mln stg in late help to the money market bringing the total assistance today to 266 mln stg
london and scottish marine oil plc lasll 
firm has coopervision eye stock will buy more
earlier today london traders had expected the subsidy for the current season whites campaign for licences to end aug to be between 4410 and 4450 ecus per 100 kilos
procter and gamble co said it appointed the new york ad agency of wells rich greene inc to handle its duncan hines ready to serve cookies effective immediately
treasury secretary james baker told the house appropriations committee the united states is still pressing newly industrialized south asian nations that have tied their currencies to the dollar to let those currencies strengthen against the us currency
mobil corp said it will spend over 30 mln dlrs to upgrade a gasoline producing unit at its beaumont texas refinery
us grain carloadings totaled 25744 cars in the week ended march 28 down 43 pct from the previous week but 416 pct above the corresponding week a year ago the association of american railroads reported
deniz gokce associate professor of economics at the bosphorus university told that banks were forced to pay depositors real interest rates for the first time and profits started to fall
homestead financial corp said it began a public offering of 3500000 shares of its class a common at 10875 dlrs per share through an underwriting group managed by drexel burnham lambert inc and merrill lynch capital markets
kentucky central life insurance co said its bluegrass broadcasting co inc subsidiary has agreed to sell two orlando fla radio stations to tk communications inc for 135 mln dlrs subject to fcc approval
turkey is holding a buying tender for 100000 tonnes of white sugar on march 24 traders here said
toronto dominion bank nassau branch has increased its eurobond offering to 50 mln australian ltdlrs from 40 mln lead manager hambros bank ltd said
weyerhaeuser further stated that it has lowered its manufacturing cost structure and is obtaining significant productivity increases
argentine vegetable oils shipments during january november 1986 totalled 1693951 tonnes against 1469208 tonnes in the same 1985 period the argentine grain board said
over the next three weeks a cut is out unless we get some extremely good economic indicators capels skeoch said
what we want is to make sure newfoundlanders and british columbians and albertans and others that they get their chance
the partnership is controlled by marcus schloss and co inc a new york brokerage firm and prime medical products inc a greenwood sc medical supplies firm
panhandle eastern corps trunkline gas co pipeline subsidiary said it is reducing the commodity component of its wholesale natural gas rate four pct effective immediately
the italian treasury said it would offer 24500 billion lire of short term treasury bills bots at net rates lower than on the preceding issue
la land llx du pont dd get exploration tracts
mcfarland energy inc said its board and that of petrominerals corp have approved a definitive agreement for mcfarland to acquire petrominerals in an exchange of stock
a cargo of thai raw sugar was reported traded at basis july new york futures less 25 points for june july 15 shipment traders said
bank of france to buy first category paper today
along with the 1449550 units already held by renouf it now owns 934 pct of the 5745706 units outstanding
the heat and lack of rain combined to leave many soybean pods empty especially in cordoba
the speaker of the iranian parliament hojatoleslam akbar hashemi rafsanjani warned the us not to intervene in the gulf a day after washington said its warships were available to escort kuwaiti tankers through the waterway
the bank of england said it had provided the money market with a further 15 mln stg assistance
terms were not disclosed
it had principally operated as a volvo dealer
the current account balance of payments in february showed a seasonally adjusted provisional surplus of 376 mln stg compared with a surplus of 73 mln in january
guinness is also planning a resolution at the annual meeting in may to remove both saunders and ward from the companys board
alusuisse shares suspended on capital cut news
tenders will be received next week for 220 billion dlrs of 91 day bills 120 billion dlrs of 182 day bills and 500 mln dlrs of 364 day bills
analysts were mixed about how the stock price drop would affect the acquisition
as a result the market became glutted said one trader
cross told the sec he bought the new shares at between 775 and 80 dlrs
new zealands current account deficit narrowed to 78 mln dlrs in february from 93 mln in january and 233 mln in february 1986 in a smoothed seasonally adjusted measurement the statistics department said
dwg corp dwg 3rd qtr jan 31 net
british authorities are also understood to have intervened to curb sterlings strength
loans and advances from the dutch central bank to the commercial banks were barely changed at 129 billion guilders in the week up to and including march 2 the central bank weekly return showed
so far only 21000 tonnes of second hand cocoa have been taken up for buffer stock purposes and this traders noted only on an intermittent basis
closing stocks at the end of february were 270212 tonnes up from 196309 tonnes at end february 1986
chrysler agrees to acquire electrospace systems for 367 mln dlrs
china may have to import he said
the total of all crude refined product and spr stocks rose 94 mln barrels to 15611 it said
medco containment services inc said its board declared an initial annual dividend of 10 cts per share its first payout payable march 19 to holders of record march 12
wendys wen declnes comment on market rumors
western business sources in shanghai said the project involving the construction of 14 km of tunnelled track had been discussed for over 20 years adding it was expected to cost at least 750 mln dlrs
france posted a seasonally adjusted trade deficit of 400 mln francs in february after a 25 billion franc deficit in january the finance ministry said
cbsi said it expects to complete the deal pending nichols shareholder and regulatory approval later this year
ansbacher said a and p has exciting growth potential particularly on the east coast of the us and has an annual revenue of more than four mln dlrs
non callable for five years the debt is rated b 2 by moodys investors service inc
imatron imat sells stake to mitsui mitsy 
this weeks ontario government auction of 50 mln dlrs worth of 91 day treasury bills yielded an average of 728 pct up slightly from 726 pct last week a treasury department spokesman said
gateway said the acquired company has contracts with 102 dentists in 144 locations
usage in february comprised 166 mln lbs of edible products and 54 mln lbs of inedible products
i believe it will take three to six months maybe longer for an arrangement to be worked out to reschedule brazils debt swearingen told reporters at a press briefing
yields on certificates of deposit offered by the united arab emirates central bank were higher than last mondays offering the bank said
among the corporate headquarters lost during the period were crown zellerbach memorex southern pacific castle amp cooke and rolm
moodys investors service said it has confirmed its ratings on about 44 billion dlrs of outstanding securities of public service electric and gas co a unit of public service enterprise group inc
for the longer term while confusion will continue to bring clients into blocks 8866 tax preparation offices worldwide there are some changes in the act that will have a negative effect bloch conceded
south koreas national news agency yonhap said this years current account surplus will near 10 billion dlrs amid signs of continuing high world demand for the countrys cheap cars and electronic goods
aaa ratings were assigned to eastman kodak cos 135 mln us dlrs of 7 1 8 pct euronotes due 1987
fleet has established consumer banks in the southeast and is known as an innovator in securitization of mortgages
the measure however does not require president reagan to comply with the 1973 war powers act as does a related senate bill
transworld trust twt sets initial pay date
it plans to file by mid may with the securities and exchange commission a registration statement covering the securities computer products said
their japanese buying over the course of the last six months has been very much concentrated in the medium term maturities noted one canadian bond trader who asked not to be identified
standard and poors said weaker international competitiveness in the face of rising labour costs would mean a deteriorating current account balance and a rise in external debt
the new price is similar to other oil companies price for the same grade
k mart said it will continue to operate the stores until early june when mccrory will take over with no interruption of service
a us attack on an iranian oil platform in the gulf on monday appeared to be a tit for tat raid carefully orchestrated not to be too provocative or upset arab allies western diplomats in the region said
buenos aires maize 104304 wheat 14330
ausimont compo nv said it has sold the assets of its equipment and machinery division for about six mln dlrs to an investment group including the units management resulting in a modest pretax gain that will be included in first quarter results
the ministry said gross purchases of foreign bonds were 11553 billion dlrs in february down from 11804 billion in january while foreign bond sales fell to 10612 billion from 10758 billion
franklin high yield sets higher payout
the bank of england said it had provided the money market with 728 mln stg assistance in response to an early round of bill offers from the discount houses
anheuser busch cos inc said it will issue 150 mln dlrs in principal amount of 8 1 2 pct sinking fund debentures due march 1 2017
he did not elaborate
honeywell inc said its total debt rose by more than 85 pct in 1986 mainly due to its 102 billion dlr acquisition of the sperry aerospace group
blampied will become vice chairman and chief operating officer of the holding company
saudi output said at year low to help opec
we are having high level discussions on them the issues within the united states the relationship on some of those is very strained between us japan at the moment and we need to relieve those strains at the earliest possible date he said
the company said it was in the course of arranging these facilities
merrill which will be the dealer for the medium term notes and commercial paper said this was the first facility of its kind
he said geologic condtions in the area were favorable for the discovery of oil fields equal to those in nearby prudhoe bay
the series of strikes in the sector started on january 19 in protest at employers plans to make 800 redundancies from the 4000 strong workforce by 1990 starting with 350 this year
the ministers also gave west germany a go ahead to move towards a ban on the sale of leaded regular petrol after bonn requested permission to do so to encourage the use of low pollution cars diplomats said
bailey said his attendance at the two day meeting which ends tomorrow demonstrated the us recognises the need to adjust its policies to the changing market environment
his involvement in this issue also seems to signal that congressional interest in the debt problem has to be taken more seriously now than in the past
ministers hope to approve a closure program when they meet again in brussels on june 1 the sources said
chu jinfeng an official of fengbing county outside shanghai said factory workers get 60 yuan a month and three years unpaid leave to grow grain and can keep the profits
terminal prices today rose by up to 10 stg a tonne from fridays close basis july at its high of 1271
minnesota house speaker designate said the legislators would probably look at language similar to that contained in indiana and new york law
nbc news said it understood six iranians had been pulled from the sea
one vertical drill hole intersected gold continuously from 1100 feet to 1730 feet averaging 030 ounces per ton the announcement said
the company also said british petroleum co plc bp last week refused to accept an order for fuel oil
the sale is an important part of a restructuring announced in november cpc said
baker said this lending should help debtors make a transition to more open economies and freer markets
in havana each cuban receives approximately 3 4 lb of rationed beef every 18 days
barclays bank plc bcsl and midland bank plc mdbll said they are cutting their base lending rates to 105 pct from 11 pct
he said in a speech to an export import group that he was sure the united states and japan could work out their dispute over unfair japanese trade practices in semiconductor trade but i am sure the sanctions will go in before we work it out sanctions are to be imposed on april 17
note bonus issue one for five for both a and b shares against two for one
there is an agreement the source close to the philippine delegation said adding that details would be announced at the press conference
another commented baker will miss him but hes not going to stand in his way there has been widespread speculation since last autumn that darman sought a wall street job
siew returned from washington on friday after the us responded to taiwans request to increase its textile export quotas by promising further talks in may
shr 17 cts vs 16 cts net 1315000 vs 1161000 revs 432 mln vs 365 mln avg shrs 7916000 vs 7490000 nine mths shr 50 cts vs 51 cts net 3899000 vs 3821000 revs 1237 mln 1046 mln avg shrs 7808000 vs 7491000
victory markets inc is raising 60 mln dlrs through an offering of subordinated debentures due 1999 with a 12 1 2 pct coupon and par pricing said sole underwriter drexel burnham lambert inc
magma lowers copper price 050 ct to 6550 cts
intervention rate was last raised to eight pct from 7 1 4 on january 2
the rating agency said that downgrades would continue to outpace upgrades among financial institutions
neda said exports totalled 12 billion dlrs in the first quarter while imports were 14 billion dlrs
all that some countries would like to have would be a wheat agreement where we would stop export subsidies on wheat
fed funds traded at 6 1 16 pct late friday and are expected to open near that level
quilon chrome complexes and volan bonding agents will be supplied by the plant to du pont under contract
walters added that it also felt that due to management changes in 1986 standard could now operate successfully even in a lower oil price environment
light showers in southern sichuan increased topsoil moisture for corn planting which likely is off to a slow start due to earlier dryness it said
some importing countries insist the international cocoa organization icco buffer stock rules must not be muddied with quota type subclauses which might dictate the type of cocoa to be bought
total natural gas reserves fell to 482 trillion cubic feet at year end 1986 from 518 trillion at the end of 1985
earlier the bank revised its forecast of the liquidity position to flat from its original estimate of a 100 mln stg surplus
what we have now is pins iv he said
convenient food mart cfmi agrees to buy chain
callon petroleum co said its auditors will qualify their opinion on 1986 financial statements due to questions about callons ability to continue as a going concern
texaco tx eurobonds unquoted at market opening
shr 52 cts vs 42 cts net 411 mln vs 332 mln sales 127 billion vs 9603 mln avg shrs 79800000 vs 78200000
the bank said the forecast rise is due to an increase in floating deposits due to recent low interest rates and a shift to private banks from the bank of japan of 400 1000 billion yen by the recently privatised japanese railways
essentially what it domes loss does is put more focus on the importance of the restructuring and puts more pressure on creditors to agree to the debt rescheduling said an oil analyst who asked that he not be identified
meinke noted that in the case of argentina the loans became non accruing for a couple of quarters but then when the banks came to an agreement with argentina all the back interest was paid
ccf reports 348 pct profit boost share split seen
chemlawn said its rights plan is designed to protect shareholders against abusive tactics such as market accumulations by waste management or others under the plan one comon stock purchase right will be distributed as a dividend on each outstanding share of chemlawn common
if that happens natural gas will also regain some of the market share it lost to heavy fuel in 1986 and there may be slightly less growth in transport fuels
a total of 1461 billion dlrs of bonds maturing on april 20 will be retired with excess cash and internally generated funds
the reagan administrations cabinet level economic policy council is scheduled to meet friday to discuss among other issues the status of agricultural legislation administration officials said
mark resources to sell securities
wainoco oil corp said it is undergoing a recapitalization program with a proposed offering of two mln units consisting of common shares and warrants the planned redemption of its shareholder value rights and a change in its corporate structure that substantially reduces futurer income taxes
he said the decision to take action was made after a port worker died yesterday after being electrocuted
asked about such criticism lyng said the alternative to doing that is to say that we preserve them and maintain them
it said the proposal is currently being studied by goldman sachs and co and legal counsel
over the next two days it expects 4 03 4 04 due 36 28 scheduled to transit 38 38 end day backlog 28 18 average waiting time tomorrow super tankers regular vessels north end 19 hrs 8 hrs south end 20 hrs 16 hrs
the firm expects good 1986 results with an appropriate dividend
standard elektrik lorenz finanz bv is issuing a 40 mln australian dlr eurobond due may 11 1990 paying 14 1 4 pct and priced at 101 1 2 pct lead manager credit suisse first boston ltd said
some bankers expect it to rise to 33 by june and to 32 by the end of this year
sage analytics international inc said its board has declared a three for two stock split payable june 22 to holders of record on june eight
callon petroleum co clnp 4th qtr loss
alden electronics adnea sets lower dividend
sumitomo bank ltd sumit is certain to lose its status as japans most profitable bank as a result of its merger with the heiwa sogo bank financial analysts said
french operators have requested licences to export 40000 tonnes of free market feed wheat 32500 tonnes of soft bread wheat 375000 tonnes of barley and 465000 tonnes of maize at todays european community tender trade sources here said
mcandrews and forbes said it informed the board of directors of revlon that it expects to make a formal proposal in the near future
remaining recoverable gas reserves in the areas held by the santos ltd stoss led cooper basin joint ventures have been upgraded to 27217 billion cubic feet bcf from the 2466 estimated last may santos said
equicor equitable hca corp said that the company will likely attain revenues in excess of two billion dlrs in its first year of operations
first federal charleston ffch names new ceo
all the action of the past week has been in the far east raws market whereas the whites market saw little fresh prospect of nearby offtake whitehouse added
norways state oil company den norske stats oljeselskap a s statoil statol has told thai authorities it is interested in taking a 30 pct share in a big offshore thailand gas field statoil said
cole who has been chairman of sears roebuck and co incs s coldwell banker residential affiliates inc unit
if during the three months the trader found a market elsewhere he could buy back the certificate on payment of a one pct premium
paul feretti an analyst with new orleans based howard weil labouisse friedrichs inc said he was not surprised at market rumors that tenneco might be the target of a takeover attempt
senator jake garn john heinz and richard selby said at a hearing of the senate banking committee on export control they will offer the proposal as part of a major trade bill when it is brought before the senate this summer
miyazawa expects dollar to rebound soon spokesman says
coffee exports are especially sensitive to the disruption of rail transport since president yoweri museveni has banned their haulage by road in a drive to save transport costs
the proposed acquisition price is approximately 175 mln dlrs in cash the company said
total erickson resources ltd and consolidated silver standard mines ltd cdsv said that total erickson has purchased all consolidateds interests in its dome mountain property for 60000 total erickson shares and 70000 dlrs in cash
the trade balance showed a 1986 surplus of 332 billion crowns compared with a 158 billion surplus in 1985 the bank said
baker repeats he hopes prime hike temporary
one yen bond manager said japanese financial authorities are giving up a lot of their control in liberalising the rules governing international transactions of the yen
barley sold to saudi arabia usda
the amendments provide a total of seven billion dlrs us in standby credit
the department said exceptionally cold weather in january reduced exports that month and that there had been an element of catching up in the february figures
shr 19 cts vs seven cts net 936000 vs 351000 revs 1533 mln vs 145 mln
swedens balance of payments on current account showed a deficit of 500 mln crowns in january after a shortfall of 100 mln in december central bank figures showed
foreign exchange trading income totaled 713 mln dlrs up 443 mln from a year ago
a south african trade union is in dispute with a subsidiary of britains johnson matthey plc over the companys proposal to move a platinum refinery near johannesburg to a black tribal homeland
the ec is anxious to avoid provoking a trade war they said
renewed confidence in opecs ability to limit production helped us energy futures settle above yesterdays closing prices according to analysts
c i l inc said it would exercise its right to acquire trimac ltd s stake in their jointly owned tricil ltd for 91 mln dlrs with closing expected may 22
formal documents will be sent to shareholders as soon as possible it said in a brief statement
ameritrust amtr sells two mln shares
uk september m3 rises 08 pct m0 up 08 pct bank of england
this would help agriculture because some its inefficient non productive segments would stop operating he said
financial services saw profits double to 282 mln with both eagle star and allied dunbar achieving further growth
glenn english d okla requiring the secretary of agriculture to begin discussions with other major grain producing countries aimed at jointly reducing world grain production
uk money market deficit removed
the bundesbank sees no current reason to change monetary course vice president helmut schlesinger told in a telephone interview
webcor said the american stock exchange is evaluating webcors continued listing eligibility
the bills many provisions also set as a priority for the us the negotiation of stable exchange rates and urge government intervention as necessary to offset fluctuations
humana hum to buy intl medical assets
the notes have an eight pct coupon and were priced at 9965 to yield 102 basis points more than comparable treasury securities
von wartenberg said the government was in a difficult position on its trade figures
justice dept
it also announced an increase of five cts per pound for performance grades of the resins
it said it expects the courier market to grow by about 25 to 30 pct a year
net loan charge offs were 865 mln up from 607 mln leaving the allowance for loan losses at 6726 mln dlrs at quarters end or 174 pct of loans outstanding compared with 5943 mln or 150 pct a year earlier
chinese nearby april rises to 90000 yen from 70000
uk money market given late help of 185 mln stg
german bank sees good soviet trade prospects
the bank of france intervened in the paris foreign exchange market this morning for the third successive day banking sources said
proceeds will be used to reduce short term debt
cyprus minerals co said it was awarded a five year contract to supply 360000 tons of steam coal to niagara mohawk power co nmk the company is currently shipping 240000 tons of steam coal a year to niagara mohawk under a contract signed in 1985
economics ministry state secretary otto schlecht said the bonn government saw no current need for measures to bolster the economy but was paying close attention to the slower growth and had not ruled out appropriate and timely action if necessary
the seasonally adjusted volume index base 1980 a guide to underlying non oil trade showed exports rising to 1310 from 1146 in january and imports rising to 1422 from 1365 the value of british oil exports in february rose to 751 mln stg from 723 mln in jnauary while oil imports rose to 425 mln from 352 mln
he said telephone contact had been established with the trapped miners but they could not be brought to the surface until the fire was extinguished
the strong response to the package was partly the result of the inducement of a 3 8 pct early participation fee for those banks that agreed to sign up by june 17 bankers said
costa rica has agreed to sell more than 32000 tonnes of sugar this year to the soviet union a spokesman for local producers said
port and transport union spokesman bert duim said the employers decision would not lead to the immediate resumption of eight weeks of strikes in the sector
irving trust v buys gulf western gw unit
freddie mac said that first union mortgage corp already swapped 70 mln dlrs of new residential mortgages to freddie mac in the first phase of the contract
glenn said a multinational force could be effectively deployed within 24 hours of a decision
qtly div 17 cts vs 17 cts pay april 24 record april 7 note year ago adjusted to reflect march 19 three for two stock split
bahrain monetary agency figures show regional currency deposits held by offshore banks most in saudi riyals dropped to the equivalent of 122 billion dlrs at end september 1986 from 134 billion at end 1985 and a 1983 peak of 150 billion
up right inc upri 4th qtr oper net
the plant will go into operation in 1990 kellogg said
the overall january deficit of 148 billion dlrs will be revised but the february figure will be a final one officials said
about 2308 mln dlrs of debt is affected
the inflation rate of one pct also gave no occasion for higher nominal interest rates
paper money rose to 4041 billion francs from 3941 billion and 3835 billion respectively other forms of privately held money to 6795 billion from 6527 billion and 6160 billion
the company also said it has filed to offer 912000 common shares including 162000 to be sold by a shareholder with company proceeds to be used for working capital and general corporate purposes
the rights trade in tandem with rexnords common stock
the company said pricing competition and lower traffic levels in the motor carrier industry hurt its first quarter results
he would have preferred an increase in the 10 pct value added goods and services tax introduced in october 1986 but that would have had a short term inflationary impact
louisville gas and electric co lou dividend
woolwich building society issuing 50 mln stg bond
the company added that it expects first quarter 1987 earnings to be down moderately from year earlier levels
sama offers a total 19 billion riyals in 30 91 and 180 day paper to banks in bahrain each week
city resources ccimf to sell property stake
period ended september 26 shr 28 cts vs 14 cts net 3300000 vs 1300000 sales 247 mln vs 112 mln avg shrs 11871751 vs 9398952 nine mths shr 76 cts vs 35 cts net 9000000 vs 3200000 sales 693 mln vs 320 mln avg shrs 11833883 vs 9059692
the letter of credit will be underwritten by a group of banks who will be paid a 20 basis point facility fee and a 25 basis point utilisation fee
the dollar was trading around its midday rate of 14230 yen
for the full year 1986 the current account a broad measure of trade performance was in deficit a record 14057 billion dlrs after a 11768 billion dlr deficit in 1985
record date of the split will be april 21 kiena said
appropriations to government departments had been cut by eight pct since the budget was passed in december and foreign borrowing by municipalities had been restrained
in answer to a question on combineds possible exposure to aids related health claims ryan said it was minimal although he conceded that every carrier who provides coverage is vulnerable
paragon said it bought the shares for investment purposes
mti said consumer goods will also become more expensive with the price of refrigerators rising some five pct
these swaps arent a panacea but they do demonstrate how a creative free market can make progress in reducing the debt burden he said
when pickens and icahn get together we want people to know about it proxmire said
re exports fell by 66 pct resulting in a surge in net imports from 175901 to 251708 tonnes an increase of 43 pct
six months ended march 31 1987 share 60p vs 41p diluted interim dividend 14p vs 105p pre tax profit 312 mln stg vs 158 mln net profit 234 mln vs 114 mln sales 347 billion vs 155 billion operating profit 296 mln vs 164 mln interest and other income less central expenses credit 16 mln vs debit six mln companys full name is hanson trust plc hnsnl uk operating profit by sector consumer goods 123 mln stg vs 32 mln building products 31 mln vs 26 mln industrial 14 mln vs same food 20 mln vs nil
it gave no further details
he was asked about iranian claims that the united states was moving towards the brink of armed conflict with iran
movement of canned fruit has improved and remaining suppies for some canned fruit items are tight and as a consequence prices have strengthened the department said
leclerc said alcan decided it would cost too much to modernize the plant
cyprus minerals company said it is decreasing its electrolytic copper cathode price by one cent to 660 cents a pound effective immediately
pacific basin development corp based in vancouver british columbia said it reached an agreement to buy 51 pct of team pacific corp and its marketing arm for 42 mln us dlrs
lpl also said merrill lynch and co has committed to buy 175 mln dlrs of subordinated and preferred debt in the new lpl unit according to allied signal
on oil prices lawson said he was sticking to his earlier assumption that north sea crude prices will average 15 dlrs per barrel in calendar 1987
saudi arabia reiterates commitment to opec accord
the reserve bank said it would offer for tender 200 mln dlrs of 13 week treasury notes next week
because of the banks sensitivity to south africas apartheid regime the previous negotiations were conducted with fritz leutwiler the former head of the swiss national bank acting as mediator
roderick in response to a question said usx had no immediate plans to restructure its marathon oil co or texas oil and gas corp
the cartagena group which has not met at ministerial level for over a year wants to repay debt contracted before the debt crisis at the low interest rates prevailing in the 1970s
in return the us agreed to hold up imposing anti dumping duties on japanese semiconductor shipments
yugoslavias hard currency debt stands between 19 and 20 billion dlrs
in a statement wilson said the action would permit the government to proceed with its debt program during a period when there was not sufficient borrowing authority which is granted by parliament to cover the governments needs
assets totaled about 8440 mln dlrs as of december 31
the ministry will abolish the minimum rate and introduce a market related one to resolve the problem and stimulate the domestic economy they said
the bank of england said it had provided the money market with late assistance of around 215 mln stg
venezuela will shortly announce a new plan to allow private companies to repay their foreign debts with equity and for public debt to be converted into private sector investments cntral bank president hernan anzola said
oak industries oak to buy rexnord rex unit
the issue has a put option after seven years which will be priced to give the investor a yield in line with current seven year us treasury bond
anything else would be more than a surprise one said
ongpin has said that us regulators and accountants had given a green light to his idea but bankers are not so sure
deutsche babcock ag dbcgf will increase its dividend on results in the year ending september 30 1987 chief executive helmut wiehn said
the transaction was conditioned on the arrangement fo financing by today
shr loss five cts vs loss eight cts net loss 118000 vs loss 87000 sales 1765000 vs 1345000 avg shrs 2370000 vs 1070000
the drilling diving and supply vessels sectors had been most affected buchanan snith told the house of commons energy committee
world bank expected to approve philippines loan
if you include interest the total amount of external assistance needed annually should not exceed 200 mln dlrs the sources said
marine midland banks inc said in a filing with the securities and exchange commission that it may reclassify as nonperforming 359 mln dlrs of medium and long term loans to brazil
coast savings and loan association said it is in talks with the federal savings and loan insurance corp on the acquisition of central savings and loan association of san diego
new tender participants are vickers da costa ltd bache securities ltd smith barney harris upham international inc jardine fleming securities ltd kidder peabody and co ltd goldman sachs international corp morgan stanley co ltd sg warburg and co ltd first boston co ltd kleinwort benson international inc schroder securities ltd deutsche bank ag ef hutton ltd shearson lehman brothers asia inc dresdner bank ag swiss union philips and drew ltd sogen security corp and swiss bank corp international asia inc
cambrian and general notes relisted in london
the purhcase is one of a series of overseas joint ventures by which venezuela has managed to assure markets for some 400000 barrels of its approximately 15 mln bpd exports
three of the accused face alternative charges of breaking safety regulations set out in the mines and works act
turning to the 1986 fourth quarter bayer said that world group turnover fell to 967 billion marks in the last three months of 1986 from 1043 billion in the same 1985 period
fcs laboratories fcsi ends merger talks
it said us regulatory authorities and the bank of england were keen to encourage banks to net contracts consolidate multiple contracts with the same counterparty into one single agreement to create one single payments stream
japans broadly defined money supply average of m 2 plus certificate of deposits cd rose a preliminary 90 pct in march from a year earlier compared with an 88 pct rise in february the bank of japan said
the par priced issue is callable from 1990 at 104 pct declining by 1 2 pct per annum to par thereafter but is not callable until 1991 unless the share price exceeds the conversion price by 150 pct
snyder oil partners lp soi sets quarterly
the companys common is currently trading at 25 dlrs a share on the new york stock exchange down 3 4
shultz ussr trip fuels talk of eep wheat offer
and while many manufacturing firms turned to financial market investments for profits during last years economic downturn the recent rebound has allowed them to refocus their attention on their core businesses he said
the company said in its annual report that its nonpharmaceutical business will play a major role in meeting its earnings growth target and will in fact grow faster than its pharmaceutical business
shr 285p vs 266p
day intl day to sell unit
both are avialable on eight inch and 5 1 4 inch diskettes wang said
piedmont avaition incs board of directors will conduct a special meeting beginning at 1400 est today a piedmont spokesman said
marris expects the fed to act quickly to raise interest rates even at the risk of increasing the debt burden for american farmers latin american governments and others
baldwin piano bpao files secondary offering
taiwan announces new round of import tariff cuts
it said it retains 37 medfirst offices mostly in the chicago area
sesostris sells 18000 tonnes barley to greece
current public stocks of durum wheat in the ec are 115 mln tonnes of which almost 112 mln are in italy
she said she expected the yield on the actively traded 11 3 4 pct gilt due march 2007 to dip below 95 pct against 9581 pct at yesterdays close in london
earlier the company reported a loss for the fourth quarter ended january 3 of 319 mln dlrs or 76 cts a share compared with a loss of 33 mln dlrs or 21 cts per share in 1985s fourth quarter
cash in circulation is one of two components of the west german money supply which the german central bank is targeting to grow between three and six pct this year
subroto sees oil market continuing bullish
marcos was toppled by a military civilian revolt in february 1986
taft tfb had not completed tv station sale
new harding group inc 1st qtr jan 31 net
jc penney declares two for one split raises quarterly
proceeds from the offering which is in addition to 50 mln dlrs of debt securities already registered with the sec but unsold will be used to refinance outstanding long term debt to repay short term debt and for other general corporate purposes the company said
a ypf statement blamed the drop on momentary problems owing to the summer season but gave no further details
i would like to shoot for one mln barrels a year the proposals were based on a doe study released yesterday warning the united states was threatened by a growing dependence on oil imports
hre properties hre 1st qtr jan 31 net
brown group inc bg votes regular dividend
woolworths 1986 income rose to 214 mln dlrs or 325 dlrs per share compared with 1985s profit of 177 mln or 275 dlrs per share
grain trade officials have speculated that usda would make a wheat export enhancement offer to moscow but usda officials have said the matter is not under active consideration
a ferruzzi spokesman later confirmed that the group was studying the transfer of the cpc business to european sugar along with a possible share offering in the paris unit but gave no details
in a letter to treasury secretary james baker the group said sanctions should be imposed against japanese chipmakers as of april 1 and continue until the us is satisfied there is full compliance with the agreement
he said the reason for the two month extension of the only ec farm product marketing years which end during the spring months was that it would be impossible for ministers formally to agree 1987 88 farm price arrangements before may 12
the european community ec has effectively given japan six weeks to take moves to open its market to imports before it decides on possible tough retaliatory trade measures ec diplomats said
the company added that in 1986 its return on equity reached 173 pct up from 155 pct in 1985 and close to its goal of 18 pct
the total consideration is valued at 1056 mln dlrs
dealers said federal funds were trading at 6 1 8 pct when the fed began its temporary and indirect supply of reserves to the banking system
in late january group president francois xavier ortoli told journalists that the slump in oil prices and the weak dollar had caused the stock depreciation turning a consolidated net profit before losses on stocks of six billion francs into a consolidated net loss of 15 billion francs
elder beerman stores corp said owners of about 70 pct of its stock have offered to take the company private by offerring 30 dlrs per share for the remaining 30 pct of its stock
in a filing with the securities and exchange commission shearson said it bought the stake for 188 mln dlrs for investment purposes and has no intention of seeking control of the company
we the united states obviously with the surpluses we still have of many commodities would like to share in the import business the indians do and then we have some as we always do compassion for the people of india and would like to cooperate with them he said
the underlying rise adjusted for factors such as back pay and timing variations had been steady at 75 pct from october 1985 to october 1986
mexico signed a rescheduling accord covering 120 mln dlrs in official debts to britain as part of a 18 billion dlr restructuring agreed with the paris club of creditors last year the finance ministry said
arrivals for the week ended february 22 were 155221 bags of 60 kilos making a cumulative total for the season of 593 mln against 581 at the same stage last year
wall street stocks browning ferris bfi 
e d and f man and woodhouse drake and carey both said they sold single cargoes at 23735 dlrs a tonne cif for april may and were granted options to sell an extra cargo each at the same price for may june at the indian buying tender for three to four cargoes of whites held yesterday
he said the administration wanted to continue its policy of gradually reducing deficits through restraining government spending and promoting economic growth
taft through theta co sent and letter to tafts board of directors stating he was committed to purchasing the broadcasting company and was ready to discuss all aspects of the purchase
the stock consolidation is something were discussing but its not definite sand technology president jerry shattner told in an interview
standard and poors recent triple a rating of chiyoda fire and marine insurance co ltds claims paying ability caused the japanese agencies which had rated chiyodas convertible bond only a plus to come under some criticism for being too conservative they said
the white house economic policy council is expected to discuss possible sanctions against japan at a meeting scheduled for thursday
under a february 21 deal bally agreed to buy the 26 mln of the 306 mln shares held by trump at 24 dlrs a share or 624 mln dlrs plus 62 mln dlrs related expenses in exchange for trump not seeking control of the company for 10 years
a penalty rate of interest of 19 pct is now introduced if the limit is exceeded
still the fact there is no physical delivery possible presents certain credit risks as well
the funds raised will partly finance two ethylene factories near shanghai
canada economy expected to grow moderately
on monetary policy lawson confirmed the target range for the narrow m0 measure would be two to six pct in fiscal 1987 88
avon products avp sees higher 1987 earnings
acreage for harvest 95700 acres vs 95800 acres estimated previously
brazil has been the most strongly against any change in the formula because it feared a lower quota
it said shares will be mailed may 22 record may four
it said other suits are expected to be brought
the first was made last october 23
the new york brokerage firm of spear leeds and kellogg told the securities and exchange commission it had increased its preferred stock in allegheny international inc to 86 pct from 7 pct
british airports authority plc which will be privatised later this year is seeking a 200 mln stg multiple option facility banking sources said
rhine blocked for three more weeks salvager
cominco ltd said it set tentative talks with three striking union locals that rejected on saturday a three year contract offer at comincos trail and kimberley british columbia lead zinc operations
it repeated a statement made in its initial sec filing last month that it is considering several alternatives including seeking control of cenergy
the company got through the oil crisis alright said one portfolio manager
s and p projected the market would grow to 100 billion dlrs in the next five years
rep
in december industrial production fell by 28 pct from november while rising 29 pct compared with december 1985
banks extend trading halt in lebanese pound
permits for single family units fell 32 pct last month to a seasonally adjusted 990000 units after a 30 pct august rise
the cpi came within the range of economists expectations and had little direct impact on us financial markets
willis faber not selling morgan grenfell stake
zairean officials blame their present difficulties on the imf recovery plans two basic assumptions which they said failed to materialise last year a world economic recovery pushing up commodity prices and boosting zaires export revenue and debt servicing capacity substantial additional financial help from the countrys traditional donors
it will use the proceeds to repay debt finance recent acquisitions and for other corporate purposes
the non callable bond is available in denominations of one mln yen and will be listed in luxembourg
the late season harvest consisting mostly of valencia oranges has not yet started he noted
it said it would buy back the convertible debentures at 109094 dlrs per each 1000 dlr face amount including accrued interest
terms of the sale were not disclosed
that spread has narrowed again
the us on the other hand has not cut its budget deficit as japan and west germany have urged she said
the resolution said the european community commission has proposed establishing a consumption tax on vegetable and fish oils and fats in conjunction with the setting of farm prices for the 1987 1988 ec marketing year
eagle entertainment inc said its subsidiary performance guarantees inc issued completion bonds for two films with a production value of five mln dlrs
the reserves hit a record 53 billion us dlrs last month
the amex said the initial expiration months for hbj options are april may july and october
were getting into a period when they brazil are starting to harvest and starting to export eshleman said
this trend had been reversed recently and with domestic credit demand likely to remain at steady levels money stock growth was expected to narrow in the medium term
the commission said it suspected the shares were actually controlled by eduardo cojuangco an associate of former president ferdinand marcos
florida public utilities co said its board declared a three for two stock split on its common stock
iis intelligent iislf in textron txt deal
dry weather covered most european crop areas in the week ended march 14 except for those in southwestern france southern italy and greece the joint agricultural weather facility of the us agriculture and commerce departments said
shr five cts vs one ct net 299869 vs 54775 revs 57 mln vs 52 mln note period ended april 30
rubber producers consumers start new pact talks
in connection with the conversion unicorp will contribute 150 mln dlrs in cash to lincoln
last week the management group submitted what it called its last offer for the company valued at 31 mln dlrs and consisting of 3850 dlrs a share cash preferred stock valued at eight dlrs a share and equity in the new company
asked why some features of the debt agreement such as the token prepayments of principal were not made public immediately he said these are very long documents and in a press statement you can only cover the key points
each 10000 mark bond carries two warrants which can be converted into 5000 dlrs each on the same terms as the warrants for the 1000 mark bonds deutsche said
joseph light saj sets split hikes payout
net profit 571 mln dlrs vs loss 691 mln
brazil is not selling cocoa beans to the international cocoa organization icco buffer stock as spot prices for beans in the interior area are 20 to 25 pct higher than levels which would be paid by the icco buffer stock manager trade sources in the major producing state bahia said
any japanese action would probably be taken under article 23 of the general agreement on tariffs and trade gatt they said
the government last week said the us economy grew at a modest 11 pct annual rate during the fourth quarter
other achievements include a major reduction in the states foreign debts and a cut in the state budget deficit to 1411 billion francs last year 25 billion francs below target and down from 1533 billion in 1985
american telephone and telegraph co said it has a new version of docuforum a software product used to review revise and transfer documents electronically
great western financial gwf unit buys banks
at present levels the dollar can no longer be considered grossly overvalued in relation to the european currencies and the yen gleske said
cominco ltd lowers price of lead metal
but the government expects prices to fall after the wheat harvest next month
trade house sources said china is expected to step up its sugar purchases following yesterdays steep drop in world sugar prices
despite its attempts to dampen rates with measures such as aggressive commercial bill purchases the central bank has failed to remove all upward pressure money traders said
he told les echos he aims to reduce the 1988 budget deficit to 115 billion francs from this years figure of 129 billion and compared with a 141 billion deficit in 1985
enviropact viro to make acquisition
fi tek corp to make acquisition
1986 year net excludes 133000 dlr provision for loss on disposal of discontinued operations
most bank managements appear committed to improving the quality of their balance sheets s and p said noting many now emphasize long term strategies over short term earnings
the company said morgan stanely and co inc is advising it on the sale of the business
in the 90 minute speech to the congress lusinchi summed up the achievements of his administration which took office in february 1984
one foreign banker speculated that bolivia might be able to buy back up to 30 pct of its commercial debt paper under the deal mostly from small banks who have written off their loans to the country
jefferies and co said it is making a market in the stock of cyclops corp at 92 1 2 to 95
under current so called sodbuster law farmers who planted alfalfa and other multiyear grasses and legumes on highly erodible land in the years 1981 through 1985 lose federal farm program benefits if they produce a row crop on that land in later years
but jardine was also subject to increased taxes of 340 mln dlrs last year against 292 mln in 1985 they said
the extension effects its exchange offers for 30 mln dlrs principal amount of 14 1 2 pct subordinated notes due 2000 and 35 mln dlrs principal amount of 14 3 8 pct subordinated debentures due 1995
canadas decision to raise the issue of a free trade pact with the us was a sign of what many see as a new spirit of canadian self confidence a public policy study group said it suggests the canada of the immediate post war period when it was a major player in the process of building a postwar world the washington based atlantic council said
paris trade details ec grain tender result
dieter said west german producers would see a downturn in foreign business because of lower energy prices and the higher mark as well as a deterioration of the economies of customer nations
knutson mortgage corp knmc sets quarterly
two years ago before selling its ormet corp subsidiary in the united states to local management and staff alusuisse had an annual capacity of 800000 tonnes
bankamerica bac chair says bank turning around
the bank of england said it invited an early round of bill offers from discount houses after forecasting a shortage in the system of some 105 billion stg
katy industries inc kt 4th qtr net
french february unemployment hits record 265 mln
chancellor of the exchequer nigel lawsons budget contained virtually everything the government bond gilts market had hoped for and is likely to help prices race ahead in coming months analysts and traders said
growers had harvested seven to nine pct of total planted area compared to five to seven pct last week
the talks at the belgian resort of knokke are being held to coordinate the ecs positions on monetary issues and third world debt ahead of the spring meetings of the international monetary fund and world bank in washington next week
qtr ends dec 31 shr one cent vs 15 cts net 466000 vs 6866000 revs 1231 mln vs 935 mln note the company changed its fiscal year end from aug 31 to dec 31
53 weeks to april 4 1987 share basic 222p vs 216p fully diluted 216p vs 199p final dividend 63p vs 57p making 86p vs 77p pretax profits 1292 mln stg vs 1160 mln turnover 10881 mln stg vs 9684 mln profit from retail operations 1333 mln stg vs 1156 mln tax 401 mln stg vs 365 mln profit after tax 891 mln stg vs 795 mln extraordinary items debit 07 mln stg vs debit 24 mln note full name is storehouse plc sthll
otherwise the labour scene looked bleak with the bank strike posing the most serious problems for brazils crisis laden economy
the company said the offer and withdrawal rights will expire at midnight april nine unless extended
first bancorp troy nc initial offering of 400000 shares of common stock at an estimated 17 19 dlrs a share through interstate securities corp
mark eurobond issues fall in second march half
under the merger agreement remaining shareholders of hayes a jackson mich based maker of auto supplies will receive 13 dlrs cash for their shares
gulf states has appealed a decision by louisiana state regulators rejecting its application for 100 mln dlrs in emergency rate relief
the commerce department said this week that the economy grew by a robust 48 pct annual rate in the first quarter but a us monetary official called it a weak report
armistice eludes ec and us in spaghetti war
the lifting of the ban imposed earlier this year follows government concern over lower than average rainfall in southern ghana and its implications for the major harvest botchwey said rain has been lacking in major cereal growing areas throughout the south this year
economists said unemployment is expected to exceed 10 pct in 1988 against about 95 pct this year
period ended january 31 shr loss 28 cts vs profit seven cts net loss 931000 vs profit 7000 sales 2303000 vs 2006000 nine mths shr loss 55 cts vs profit seven cts net loss 1619000 vs profit 185000 sales 7684000 vs 7059000 note per share reflects issue of 600000 shares in october 1986
dart said it was to fund up to five mln dlrs for top managements supplemental retirement plan
central maine power co ctp sets quarterly
they said a similar procedure was taken in the past in brazil and that it did not work out according to plans
british manufacturers expect output to grow rapidly in the four coming months a confederation of british industry cbi survey shows
standard and poors corp said it upgraded 295 mln dlrs of debt of hawaiian telephone co a gte corp unit
our plans were to finalize the merger at midnight tonight delta spokesman bill berry told the atlanta constitution late last night
japans agriculture ministry angered by us demands that japan open its farm products market will tell us officials at talks later this month that liberalisation would harm existing us farm exports to japan a senior ministry official said
tultex corp ttx 2nd qtr may 30 net
shr profit one ct vs loss 27 cts net profit 22000 vs loss 763000 revs 161000 vs 316000 note prior year net includes 1209000 dlr writedown of oil properites and 314000 dlr tax credit
data card said it expects revenues for the year in the range of 170 mln to 175 mln dlrs down from a previous estimate of 180 mln to 185 mln dlrs
a spokesman for the dai ichi kangyo representative office here said the bank was naturally considering options such as expanding its mark securities trading operations to frankfurt
houston oil ho reserves study completed
these operations are not permanently shut down
banking sources said the tax change would boost simex trading by non bank institutions and individuals and would benefit foreign firms and institutions
gordon presided over six hours of argument today by lawyers for burlington and samjens a partnership formed by dominion textile inc and new york investor asher edelman
saudis drop condition for oil sale to brazil
its clear icahn wants to sell and hes bluffing said one arbitrager
ivory coast maize output has risen steadily during the last two decades and the country aims to produce two mln tonnes annually very rapidly the official daily fraternite matin reported
it also publishes and distributes speciality books under four imprints and operates two book clubs
us officials said president reagan would probably act on the recommendations in a day or so after consulting with aides on the foreign policy implications of retaliation
australia accused the us of increasing protectionism on agricultural products and called for an end to washingtons special 32 year exemption from certain gatt rules on agricultural trade
the alcoa of australia ltd is planning a 100 mln australian dlr note issuance facility lead manager westpac finance asia ltd said
home shopping hsn to purchase tv station
lawson foresaw london becoming the worlds pre eminent financial centre because it was more international in character and more favourably placed in time zones than new york or tokyo
el paso electric said the agreement allows recovery in its new mexico rates of lease payments in connection with the utilitys 1986 sale and leaseback of its investment in palo verde unit two to the extent of the book value sold
new zealands broadly defined seasonally adjusted m 3 money supply grew an estimated 24 pct in january against a 34 pct revised from 36 rise in december and a 07 pct rise in january 1986
unocal ucl scraps fluidized bed boiler project
he said the government had met all monetary targets set for the first quarter in consultation with the international monetary fund imf it expected to draw down the fourth tranche from its 198 mln sdr stand by arrangement soon
investment in cable operations would total between 150 mln and 200 mln over the five years with the aim of widening the audience to 280000 subscribers from 12000 and boosting turnover to around 450 mln francs a year from 10 mln
yeutter says japanese curb all but certain
systems 4 has revenues of 15 mln dlrs a year hogan said
we simply regard progressive enterprises shares to be worth approximately twice as much as rainbow shares and do not think the merger as proposed is soundly based bil chief executive paul collins said in an interview in the weekly national business review newspaper published today
dutch chemical group launches dual currency bond
a union spokesman in rio de janeiro said the seamen had accepted a 120 pct pay offer from the companies globo and flumar which have less than 200 employees each
the board of borg warner has also taken steps to redeem its poison pill or share purchase rights for five cents per right effective immediately
henkel to increase stake in clorox clx 
but even uk stocks have dropped around 6000 tonnes since the start of the year
as reported earlier crime control is in default on approximately 33 mln dlrs of bank debt and in default under the indenture governing its convertible subordinated debentures
unidentified jets raid iranian oil platforms in southern gulf shipping sources
there is no fundamental weakness of the paris accord he said
assay results from 20 suface holes drilled on 250 foot centers indicate that the donalda number one deposit contains possible reserves of 611000 tons at an average grade of 048 ounces of gold per ton
the 1987 88 beef and pork price stabilisation zone will be set by the end of march after an advisory panel to the agriculture ministry recommends the price zone at a meeting on march 25 ministry officials said
a 100 mln dlr offering of xerox credit corp 12 year notes was given an eight pct coupon and priced at 99534 to yield 8061 pct salomon brothers inc said as lead manager
the pennsylvania enterprises board rejected the offer two weeks ago as being inadequate
allied signal said the unit had 1986 sales of over 90 mln dlrs
swiss corp for microelectronics and watchmaking industries said it has acquired international time corp from privately held timex corp for undisclosed terms
john maslen head of the ec delegation told as he emerged from the final session we made some progress but we have called for another meeting officials who asked not to be named said the comecon team had refused to accept a clause in the draft declaration which would recognise west berlin as part of the 12 nation ec
the diplomats said the united states had been the most outspoken among foreign critics of the proposal describing it as a breach of the ecs obligations under the world trade body gatt
p and c foods inc foodo 3rd qtr oct 3 net
net proceeds which have been swapped to us dlrs for undislcosed terms will used to fund loan commitments and other purposes
export quotas were suspended in february 1986 when market prices surged after a drought devastated brazils coffee crop
he also said research and development spending in this business segment will be increased to 14 pct of total sales income in 1987 from 13 pct or 130 mln sterling in 1986
consumers power cms debt raised by s p
rotterdams main grain terminal closed by strike
azpurua said venalum is negotiating credits of 149 mln dlrs from the swiss bank corporation 14 mln dlrs from mitsubishi of japan and 40 mln dlrs from eksportfinans of norway
pell calls for transportation bonds
shr profit five cts vs loss 18 cts net profit 91000 vs loss 355000 revs 115 mln vs 117 mln nine mths shr profit six cts vs loss 145 dlrs net profit 127000 vs loss 2846000 revs 318 mln vs 349 mln
barker
showboat inc will take a charge of 19 to 20 mln dlrs pretax against results for the third quarter ended march 31 director and assistant to the president j
the company said it plans to sell 250 mln dlrs of notes due 1997 and an equal amount of debentures due 2017
nz official foreign reserves fall in january
a statement delivered by the conferences president nicaraguas external trade minister alejandro martinez cuenca said the object of future meetings would be to seek negotiations leading to basic export quotas
slough estates views 1987 prospects confidently
lyonnaise des eaux forecasts 1987 profit rise
in theory phelps is the best stock
the smelter also produced cadmium bismuth and indium
the company will amend its option granting procedure to conform to the sec decision which will eliminate future charges it added
the company also said the write off includes expenses associated with the acquisition of us medical enterprises inc and with the restructuring of certain partnerships
the canam manac group inc said its canam steel works unit received a contract valued at 85 mln dlrs to supply steel trusses to canron inc for a new car plant in ingersoll ontario
after that its a question of absorbing and juggling around
in anticipation of legislative changes that take effect in 1989 security pacific has also negotiated the future purchase of the nevada bank with assets of 615 mln dlrs
american telephone and telegraph co chairman james e
ao smith corp smc sets quarterlies
financial and industrial holding company nord est plans to make a convertible bond issue for a total of 400 mln francs president gustave rambaud said
genetech inc geneo is issuing a 100 mln dlr convertible bond due march 30 2002 with an indicated coupon of five to 5 1 2 pct and an issue price of par credit suisse first boston csfb said as lead manager
volcker understands what motivates people outside the us that was in his gut
colombia had been invited but he did not know if it would attend
group reconsiders computer memories cmin bid
federated department stores fds march sales up
norways parliament has approved an extensive trade ban against south africa but left shipowners a key loophole through which controversial oil shipments on norwegian tankers may continue government officials said
the international telecommunications union which regulates communications worldwide decided at the end of a five week conference to allow mobile phone systems to be linked with satellites telecommunications officials said
it also calls for reduction of farm subsidies
the companies said they would jointly own the hotel and rename it the four seasons biltmore at santa barbara
shr 40 cts vs 41 cts net 1979000 vs 2101000 revs 677 mln vs 636 mln 12 mths shr 36 cts vs 20 cts net 1798000 vs 1034000 revs 2394 mln vs 2332 mln
in yen futures the bottom of the dollars range would be equivalent to 0007100 to 0007150 in the june contract
the paper gave no further details
commerzbank overseas finance nv is issuing a 50 mln stg eurobond due march 31 1992 paying 9 5 8 pct and priced at 101 1 4 pct joint lead manager samuel montagu and co ltd said
australia sells bonds in two tranches
the us is seeking the power to block loan votes with one other country and the issue will be discussed in miami later this month at the annual meeting of the latin development bank
we have to keep wages as low as possible he said
the company emphasized the first quarter is a traditionally slow period for the ferry industry which is part of sea containers business
uk continent coastal movements declined sharply to 291 mln tons from 477 mln but those from the uk continent to the us rose to 199 mln from 169 mln
it said unadjusted m 3 increased to an estimated 3007 billion nz dlrs from a revised 2830 billion in november and 2553 billion in december 1985
french commercial bank credit commercial de france has split each of its shares into four to increase the number of shares on offer when it is privatised at the end of this month a company official said
denominations are 1000 and 10000 australian dlrs
he called the present situation more difficult and in a draft proposal included in the task forces report suggested setting up an institution possibly within the world bank with a fund that could deal with a future debt crisis
mts said the offer is conditioned on receipt of at least enough shares to give sosnoff a majority interest on a fully diluted basis the arrangement of sufficient financing to buy all caesars shares not already owned and pay related costs and approval by the new jersey casino control commission and the nevada gaming commission and state gaming control board
the inquiry will be required to take into account changes which have taken place in the industry as a result of the agricultural policies of major wheat producing countries and the industrys capacity to adjust to any recommended changes he said
results reflected trading in subsidiary humphreys estate group but excluded influence of a bulk of properties which the firm bought late last year from hongkong land co ltd hkldhk for 14 billion dlrs
ccc accepts export bonus barley malt to nigeria
gulf and western incs publishing unit simon and schuster said it agreed in principle to acquire woodhead faulkner publishers ltd a british based publisher of professional and consumer books for undisclosed terms
this could under certain circumstances release new inflationary fears which would then be more likely to lead to higher interest rates he added
nippon oil co ltd npolt predicted parent company net profit of about nine billion yen in the year ending march 31 down 104 pct from a year earlier president yasuoki takeuchi told a press conference
twa filed a 13 d with the securities and exchange commission reporting its holding of 4023200 shares of usair
in its statement the financial services giant said it is continuing to study various plans for shearson in addition to the investment by nippon
they recommend taking profits
royal bank canada ups us base rate
canada outlines gatt agricultural reform plan
the partnership requested that if any other proposal is under consideration that it be given the same information available to gencorps managers and advisers in constructing a proposal
paradise fruit co inc said its board declared a dividend of 25 cts per share payable march 31 to holders of record march 19
they said to make an arbitrage investment at this level would be chancy since it will take a long time for any transaction to be completed because of regulatory approvals necessary for the broadcast properites
in return latin nations would have to give up their 54 pct simple majority voting power over iadb lending
indias 1986 87 castor oil exports fall traders
etl is the third group to become involved in a possible acquisition of monier this year
canadian 1986 87 coarse grain production is projected at 2762 mln tonnes vs 2762 mln tonnes last month
semi annual div 7 1 2 cts vs five cts pay april nine record march 26
prior year 4th qtr and year oper net also excludes 192 mln dlrs and 203 mln dlrs respectively for operating loss carryforwards and other reogranization items
giles keating economist with credit suisse first boston ltd in london said the cautious bundesbank has beaten a retreat and baker has won a battle but he hasnt won the war as the security repurchase rate is still 20 points higher than it was before the imf meeting last month in washington before the imf meeting when the louvre accord was reaffirmed the bundesbank was offering money market liquidity at 360 pct keating noted
the amount of coffee stored in new york and new orleans warehouses and certified for delivery against the new york coffee c futures totalled 585555 bags as of april 3 compared with 585794 bags the previous week a net decrease of 239 bags the new york coffee sugar and cocoa exchange said
relying on depreciation of the dollar alone would risk renewed inflation he said
but unadjusted the number of jobless rose to 699800 or 91 pct of the workforce from 671400 or 89 pct in january and 658500 or 87 pct a year earlier
brazil will not announce any changes to its coffee export policy brazilian coffee institute ibc president jorio dauster said
bankers trust bt 3rd qtr net
mthly div 65 cts vs 65 cts prior pay april 30 reord april 15 note franklin california insured tax free income fund
previously the fed said consumer credit rose 536 mln dlrs in january
china has no official direct trade or government ties with seoul while it maintains close links with north korea
company sold all its operations at the end of 1986
texaco tx unit raises crude oil prices
agip canada also holds 176000 net exploratory acres in western canada
the official described the agreement as satisfactory overall
and that includes gains from the sale of mhis stake in mitsubishi motors corp mimtt for 49 billion yen
but the spokeswoman pointed out that many companies are holding talks with the soviets
report expects sharp drop in world iron imports
duqusne has baa 1 senior debt and preferred stock and baa 2 debentures and preference stock
allegheny algho forming subsidiary
the teams report to the government praises last years spending cuts which are due to reduce 1987 government spending by 195 billion francs and says 1986 saw the belgian economy perform better on a broader basis than at any time so far in the 1980s however it adds that with lower inflation stabilisation of the debt to gross national product ratio requires a much lower budget deficit than the seven pct of gnp target the government has set itself for 1989
the italian treasury said it would offer 3500 billion lire of short term treasury bills bots at rates slightly lower than the preceding offer in mid february
sandusky plastics inc spi sets quarterly
armcos steelmaking operations are profitable the balance sheet has been improved and its oilfield equipment business has been slimmed and put in a joint venture with usx bradford noted
trading will terminate on the last business day of the month preceding the delivery month
shr 24 cts vs 31 cts net 2245000 vs 2885000 revs 507 mln vs 465 mln avg shrs 9396000 vs 9270000 year oper shr 96 cts vs 99 cts oper net 8994000 vs 9220000 revs 1915 mln vs 1747 mln avg shrs 9394000 vs 9282000 note 1985 year net excludes 1360000 dlr loss from discontinued operations
broking house officials in the sri lankan capital colombo yesterday told pakistan had suspended the licences in order to link tea imports to pakistani exports
galveston can earn a 50 pct interest by spending six mln dlrs in exploration and development work on the property by december 31 1989
it said it has no plans to seek control of the company
dutch cocoa processors are unhappy with the intermittent buying activities of the international cocoa organizations buffer stock manager industry sources told 
coradian corp cdin year net
however given the significant current interest in the company we also feel that we should carefully review all the options available
pre extraordinaries net shr 7553 cents vs 7832 div pay april 30
continental illinois corps cil chairman john swearingen said he sees negotiations to reschedule brazils debt payments taking at least three to six months
south korea is studying a plan to buy more coal from the united states and to start importing alaskan crude oil to help reduce its huge trade surplus with the united states energy ministry officials said today
moore said one aim was to instil a sense of political urgency to avert potential economic tragedy another was to seek ways of popularising freer trade to people who felt the pain of readjustment but could not see the benefits as well as preventing bush fires of confrontation while we proceed with orderly negotiations the meeting is being attended by 25 overseas delegations including representatives of gatt and the economic community
qtly div 25 cts vs 25 cts prior pay may 4 record april 20
he said 1985 and 1986 were good harvests and this year to add to the production fall drought had affected output
shr 58 cts vs 54 cts net 3144000 vs 2464000 revs 546 mln vs 386 mln avg shrs 5394000 vs 4602000 year shr 203 dlrs vs 176 dlrs net 105 mln vs 8084000 revs 2011 mln vs 1524 mln avg shrs 5154000 vs 4602000
the stockholders according to a statement have organized a steering committee
as part of the restructuring goodyear executed a major stock buyback program that resulted in an increase in its debt
merrill lynch capital markets co managed the deal
hungary raises prices in effort to curb deficit
the trade deficit rose to 664 mln dlrs in january from 146 mln in january 1986
however the final outcome of the negotiations cannot be predicted at this time it said
opecs agreement to limit output to 166 mln barrels per day bpd for the rest of the year should boost spot prices and enable the group to raise its official reference price to 20 dlrs a barrel in january from the current 18 dlrs far east oil industry sources said
it said the delay is due to administrative considerations including conducting appraisals in connection with the acquisitions
initially the rights are not exerciseable rights certificates are not distributed and the rights automatically trade with northeasts shares the company said
northgate ngx quebec workers end strike
the fed is going to look at this positively said allan leslie of discount corporation
soybeans are dirt cheap said lisbeth keefe of cargill investor services whose comments were echoed by other cotton market specialists
the company said it will change its name to hercules engines inc and stewart will be the majority interest owner as well as the president and chief executive officer
we lost very little land prior to 1980 when the industrialisation began official xu said
financing agreements were reached recently with chile and venezuela an accord with the philippines seems to be close at hand and a deal with argentina on new loans and a debt restructuring could be reached in the next two weeks bankers say
publisher robert maxwells british printing and communicaton corp plc said it filed a lawsuit in us district court against harcourt brace jovanovich inc its directors and advisers to stop among other things payment of the special dividend harcourt is paying as part of its recapitalization
the cuts follow nearly two months after the bundesbank reduced leading interest rates far longer than the usual interim period
but the first official said from a technical viewpoint the bank of japan could activate swap agreements immediately after other central banks involved agreed to do so a swap agreement an exchange of currency between two nations allows both sides to acquire a ready source of the others currency in case of need
ames said yesterday that inventory shortages found at its secaucus nj distribution center would hurt results for the year ended january 31
talking point purolator courier pcc 
turner broadcasting system inc said the investment by the cable consortium would be in turner broadcasting not directly in cnn
fees comprise 1 1 4 pct selling concession and 5 8 pct management and underwriting combined and listing will be in london
underlying sentiment for the dollar remains bearish due to a still sluggish us economic outlook the international debt crisis triggered by brazils unilateral suspension of interest payments on its foreign debts and the reduced clout of the reagan administration as a result of the iran contra arms scandal said a senior dealer at a leading trust bank
the put price after five years is 1268 to yield 8 3 4 pct
westpac in nz raises indicator lending rate
hanover insurance co said its stockholders approved a two for one stock split
baker urges banks to mull new ideas for cutting 3rd world debt burden
the radio said the grain would be delivered soon but gave no details about the value of the sales
enzo biochem inc enzo 2nd qtr jan 31 net
tmoc also holds 25 pct of the jackson to moonie oil pipeline 20 pct owned by santos
enserch inc is issuing 100 mln dlrs of convertible debt due october 4 2002 carrying an indicated coupon of six to 6 3 8 pct and priced at par salomon brothers international said as lead manager
the increase brings marathons posted price for west texas intermediate and west texas sour grades to 1750 dlrs a barrel
july soymeal has already moved to a premium over the august through october months and old crop july new crop november soybeans may also move to a july premium later this month they added
french firm has five pct of calif
the pins option was subsequently modified to guarantee at least a 7 8 point spread over libor but many bankers still had grave reservations seeing it as a possible precedent for other large debtors to avoid paying interest in cash
baur said siemens had first made an offer last summer
a us embassy assessment puts 1987 output at 145 mln tonnes against 135 mln in 1986 and 1208 mln in 1985
the pta set up in 1982 groups burnudi the comoros djibouti ethiopia kenya lesotho malawi mauritius rwanda somalia swaziland tanzania uganda zambia and zimbabwe
in the first two months of this year prices rose by around 30 per cent
hoechst acquired a majority of celanese shares in a recent tender offer at 245 dlrs per common share
however most of the members did not want to rule out the possibility of some slight easing during the inter meeting period although they did not view the conditions for such a move as likely to emerge the fomc members assumed that future fluctuations in the dollars value would not be of sufficient magnitude to have any significant effect on the feds economic projections
at the intermediate stage liquefied petroleum gas prices rose 101 pct last month after a 50 pct january rise and were 410 pct below prices a year earlier the department said
plunging tokyo stock prices will prevent the bank of japan from raising its discount rate and could even force it to ease monetary policy if the collapse continues government and private economists said
demand has been surprisingly good in 1987 in construction and other areas yearley said
cheung kong holdings ltd ckghhk is expecting strong results this year after reporting better than expected profits in 1986 chairman li ka shing said
shr profit five cts vs loss four cts net profit 378000 vs loss 140000 revs 4226000 vs 1240000 nine mths shr loss 38 cts vs loss 16 cts net loss 1088000 vs 538000 revs 101 mln vs 2963000 note 1987 nine mths includes charge 1827000 dlrs for exchange by an officer and director of 554000 shares of junior subordinated stock for 443000 shares of common stock and a 10 year warrant to purchase 250000 shares of common stock at 450 dlrs per share
corrected bankamerica negotiating sale of units
the purchase would include shells interest in 39 retail gasoline stations and four petroleum product terminals pri said
the intervention in shearson lehmans action against the london metal exchange over its ring out of tin contracts in 1986 is likely to have implications for other cases in which the council is involved following the collapse of its buffer stock operations in october 1985 itc delegates said
he said theres relatively little that congress can do to legislate a solution to the trade problem protectionist legislation will only provoke retaliation by us trading partners yeutter said
he said reagan last year rejected the idea and he added in my personal view he is not likely to change his thinking on that he said reagan last year opposed the idea because the energy industry was divided on the issue a tax would require a new bureacracy to administer and the resulting higher energy prices would harm us competitiveness
franklin michigan insured sets lower payout
theres a lot of speculation here that someway or other they would be forced to come up with another bid said rosario ilaqua of lf rothschild
several bills which would establish a farm secondary market have been introduced in both the house and senate
the investor put option on may 7 1993 has been fixed at 133 1 2 pct to give the investor an annual yield to the put of 8 1 2 pct
but he said that he was confident banks would make substantial new lending to the major debtors this year
in the past two years brazil paid 24 billion dlrs in servicing of its foreign debt while only getting two billion dlrs in new loans funaro said
burlington sold its domestic operations which made sheets and other linens to jp stevens and co inc for 110 mln dlrs last year
bolivias return from the financial wilderness follows paz estenssoros economic stabilisation program
if you dont deal with the budget deficit everything else you do is going to be counterproductive he said
bank of japan to sell 800 billion yen in bills
us corn sales of just over 10 mln tonnes in the week ended april 2 were eight pct above the prior week but 25 pct below the four week average the us agriculture department said
imports also fell by 29 pct
a call for retaliation also came from the semiconductor industry and from its chief trade union
oppenheimer sells six pct cyclops cyl stake
the marketing year for corn began september 1 it said
all alterations must be approved by the bundesbank west germanys four major banking associations and the federal banking supervisory office
shr 32 cts vs 21 cts net 4717000 vs 2587000 revs 729 mln vs 379 mln avg shrs 147 mln vs 126 mln year oper shr 75 cts vs 41 cts oper net 107 mln vs 4642000 revs 1889 mln vs 1066 mln avg shrs 142 mln vs 14 mln note 1985 year net excludes 495000 dlr tax credit
huckaby said he has tried to stress in his speeches to sugar industry groups that if growers continue to expand they may be penalized retroactively under any production control legislation passed next year
they investors are saying heres another one another family dispute said dennis mcalpine of oppenheimer
the debentures are convertible into the companys common stock at 4425 dlrs per share representing a premium of 2643 pct over the stock price when terms on the debt were set
general partners cuts stake in gencorp gy 
chicago mercantile exchange floor traders and commission house representatives are guesstimating todays hog slaughter at about 287000 to 295000 head versus 292000 week ago and 322000 a year ago
the rise in the july september quarter had originally been put at 06 pct
revision would be decided by a majority vote of the icco council
its april inflation rate was a record 2096 pct and contributed to an accumulated rate of 8419 pct in the first four months of 1987
the final tranche totals 6549 mln dlrs of bonds due 2011
boise cascade corp said it completed the previously announced sale of its consumer packaging division to sonoco products co sono for approximately 175 mln dlrs
the previous weeks m 1 level was revised to 7390 billion dlrs from 7387 billion while the four week moving average of m 1 rose to 7391 billion dlrs from 7383 billion
american dynamics is engaged in gas gathering transmission and liquids extraction also in oklahoma
no date for an offering was announced
moodys said the review was prompted by the recent bid by investor martin sosnoff to acquire control of the company
us treasury says no plans for special bonds
fees total two pct with 1 1 4 points for selling and 3 4 for management and underwriting combined
earlier we sent some food back to britain as a precautionary measure but we stopped in the absence of any alarming signals he said
the us congress and the oil industry are deeply divided on ways the government should assist the industry hurt by the sharp fall in oil prices and the subsequent growth in oil imports industry analysts said
north american biologicals inc nbio 4th qtr
the trusts exposure to oil dependent regions is limited to 22 mln dlrs it said
m 3 which is non personal fixed term deposits and foreign currency deposits of residents booked at chartered banks in canada rose 321 mln dlrs to 21667 billion dlrs
philippine long distance phi year net
shr profit nil vs profit 38 cts net profit 19000 vs profit 1239000 revs 317 mln vs 312 mln 12 mths shr profit 52 cts vs loss three cts net profit 2173000 vs loss 119000 revs 1035 mln vs 986 mln
the government has so far rejected suggestions that it let the imf play a role in rescheduling its 109 billion dlr debt the biggest in the third world
oper shr loss 32 cts vs loss 17 cts oper net loss 2999000 vs loss 1692000 sales 103 mln vs 115 mln avg shrs 9517000 vs 9905000 note 1986 operating loss excludes profit of 3688000 dlrs or 37 cts a share from discontinued operations
standard and poors corp said it raised to a 1 plus from a 1 the commercial paper of citizens fidelity corp and its unit citizens fidelity bank and trust
lloyds bank plc lloyl said it is cutting its base lending rate to 105 pct from 11 pct effective tomorrow
stone container sto completes waiting period
the cut off date is completely artificial
we expect to have the biggest operating backlog in the companys history by june 30 1987 the end of our fiscal year wilkinson said
japanese securities houses will issue new corporate bonds more quickly accept issue requests throughout the month instead of at month end and introduce a competitive underwriting method from april 1 to bring japanese firms back to the tokyo bond market securities managers said
saito called on each g 7 member nation to prepare to intervene in the market strongly enough to ensure exchange rates are stabilised at appropriate levels
sec removes obstacle to foreign futures trading
a private us rice trader visited tokyo last week requesting japan buy 200000 tonnes of rice for industrial uses such as making sake
until last year zaire devoted up to 28 pct of its export revenue to servicing large foreign debts contracted during the copper boom of the 1970s to finance largely non productive and often extravagant investment projects
delta announced last september that it was purchasing western
the warrants give the right to subscribe to a second series of bonds a 200 mln guilder 65 pct six year bullet loan
west german sugar statistician fo licht estimates european beet plantings this year at 722 mln hectares compared with a revised 1986 figure of 721 mln traders said
it said the debentures are redeemable at a price of 100 pct of the principal
its necessary to clarify policy for internal and external reasons he said but declined to say what economic measures might be introduced
concepcion said at the start of the taupo meeting that the uruguay round was meant to be a shining act of faith in the world trade system
miyazawa was also quoted as saying that he is sceptical about the effectiveness of currency reference ranges even if major nations agree on such an idea as it is extremely difficult to set such ranges
the outcome of todays european community ec white sugar tender is extremely difficult to predict after last weeks substantial award of 102350 tonnes at the highest ever rebate of 46864 european currency units ecus per 100 kilos traders said
qtr ends march 7 shr 48 cts vs 39 cts net 187 mln vs 156 mln revs 4154 mln vs 3845 mln nine mths shr 131 dlrs vs 78 cts net 507 mln vs 318 mln revs 104 billion vs 101 billion note per share for yr and qtr prior restated to reflect two for one stock split in jan 1987
australian gdp rises 11 pct in fourth quarter
it said there is significant potential for the discovery of additional ore
john makin of the american enterprise institute suggested foreign tax cuts to increase demand and pick up the slack from the us trade deficit fall
atlantic richfield co said it sold its plan cell research institute unit and its arco seed co operations in two transactions for undisclosed prices
burlington industries inc is raising 75 mln dlrs through an offering of convertible subordinated debentures due 2012 with a 6 1 4 pct coupon and par pricing said lead manager kidder peabody and co inc
inco ltd said it did not expect its earlier reported removal from the dow jones industrial index to make a major impact on the companys stock
many recent innovations were either unfair to investors or unfair to borrowers
but the inclusion of currencies as one of the objectives has bonn and london worried monetary sources say because it implies washington is moving in the direction of target zones
shr profit 47 cts vs loss 38 cts net profit 4767000 vs loss 2623000 revs 237 mln vs 3629000 avg shrs 11242166 vs 6895290 nine mths shr profit 89 cts vs loss 49 cts net profit 7726000 vs loss 3350000 revs 388 mln vs 7172000 avg shrs 9410497 vs 6895290
the situation is different in comparison to three five or ten years ago we can produce more he said
revising the definition of sample grade by adding a limit of 10 live or dead insects per sample
capital costs to bring the mine into production are estimated at 76 mln dlrs
our board carefully reviewed waste management offer and concluded that it does not fully reflect the value of the company
piedmont management co inc pman 4th qtr
storm brings heavy snows to us plains
it also said it decided to sell its claims adjusting and admininistrative operations and its automobile dealer insurance unit creating a reserve of about nine mln dlrs in the fourth quarter 1986 for the sale
union carbide said it will use the proceeds of the issues to repay debt incurred in connection with a recapitalization plan unveiled in november 1986
he would not say how much the country would earn in 1987
pentair inc pnta offering of two mln shares cumulative convertible preferred stock series 1987 through kidder peabody and co inc and piper jaffray and hopwood inc
two japanese steelmakers capital spending falls
critics say the bank keeps the reins unnecessarily short
the call by us deputy trade representative michael smith at a special committee meeting into the future of gatt follows a series of bilateral trade rows which have clouded efforts by the 93 nation body to promote fair trade
1985 4th qtr and year oper net excludes a loss of 412 mln dlrs or 251 dlrs per share and a loss of 363 mln dlrs or 221 dlrs per share respectively for discontinued operations
japan is a major importer of gold buying a yearly average just under 200 tonnes gold dealers said
she noted that chrysler corps c announcement of a merger proposal for american motors corp amo should have no short term effect on ford but could cut into fords share of the truck market in the long term
a british operator is believed to have sold one of the cargoes while an austrian concern is thought to have featured in the second cargo sale they said
maxicare maxio ends plans to sell unit
dow said it altered the increase to reflect changes in the industry over the past month
the committee was meeting in new york this afternoon and could put its final stamp of approval of the deal later today the bankers said
peru begins foreign exchange rationing
three other bank officials are still being held in custody
in a newspaper advertisement the company said the offer withdrawal rights and proration deadline all expire june 30 unless extended
western environmental was acquired in march 1986
provision for loan losses in the third quarter was 20 mln dlrs versis 40 mln a year previously
bayou is 552 pct owned by australia wide industries ltd
although att will maintain its current dividend olson said the company wants to decrease the percentage of earnings paid in dividends by increasing earnings
the asset backed market which began in march 1985 totals an estimated 119 billion dlrs
sure consumers may have spent less on winter clothes or heating apparatus because of the warm winter this year but they have done so because they have become even more uneasy about their future pay rises said shoji saito general manager of mitsui banks economic research division
mercantile stores co inc 4th qtr shr 326 dlrs vs 317 dlrs
the officer said repairing damage will probably call for special measures this spring in fields with damaged plants and where stands are thin
labour negotiations in north america will play an important part in determining the direction of prices with contracts expiring end april at comincos trail and kimberley bc mine smelter and at doe runs herculaneum mo smelter
avon products inc said it reached an agreement in principle to purchase giorgio inc a fragrance company for 185 mln dlrs in cash
the finance department said it will sell 500 mln dlrs of three year 3 1 2 month bonds to primary distributors in a previously announced auction march 31
new exports will be considered only in about a years time when the 1987 88 crop can be gauged as well he said
claims on the international monetary fund imf rose by 298 mln francs to 1961 billion francs due to net withdrawals in francs by member nations and an increase in reserves of special drawing rights sdrs due mainly to the repayment of french debts
owens illinois oi extends brockway brk offer
construction will start in december and the factory should be ready by next october
renouf sells 1083 pct nzi stake to brierley
real gdp rose 11 pct in the fourth quarter of 1986 after rising 02 pct in the third quarter and falling 11 pct a year earlier
the hague was the first dutch city to start a commercial paper program allowed on the dutch capital markets since january 1986
in washington white house officials said president reagan was ready to impose retaliatory trade action against japan for breaking its semiconductor agreement with the united states
cash balances should fluctuate around 30 mln nz dlrs over the week after open market operations it added
he declined to identify the service america officials in the acquisition group
under the plan shareholders may buy one share of common stock at 65 dlrs for each share held
no other details were available
marketing systems masy seeks acquisitions
funaro rejects suggestion of imf brazil plan
nearly half of that will be spent on exploration and production and most of that will be spend overseas silas said
it estimated 1985 86 output at 2425 mln tonnes vs 2425 mln last month
it added a shelf registration statement for up to 500 mln dlrs of debt securities to be used in part for the debt refinancing is expected to be filed in the near future
it said the carolco shares used in the exchange are valued at 700 dlrs a share or a total value of 154 mln dlrs and will be adjusted based on the price of carolco shares on the closing date
senior representatives of the sugar cane growers had indicated a desire to commence the crush as soon as possible he added
shr loss two cts vs loss 138 dlrs net profit 34000 vs loss 3296000 revs 3121000 vs 1546000 year shr profit 28 cts vs loss 161 dlrs net profit 1088000 vs loss 3546000 revs 5266000 vs 4169000 note current qtr per share figure adjusted to reflect provision for preferred stock dividends
ronald perelman head of revlon group inc rev may be trying to ignite a bidding war for gillette co that could draw some big international players and in the process make a lot of money for himself wall street analysts said
he told the legislative council the instruments would replace existing longer term government guaranteed export credit debt obligations
billitons mine at onverdacht between paranam and the capital paramaribo is still working but moengo remains closed and the refinery is continuing to import some bauxite the billiton spokesman said
time inc said its time life video inc subsidiary has agreed in principle to sell its institutional training business to time life video president william v
co lead is pru bache securities
without these currency fluctuations net profit would have been 307 mln guilders higher and revenue 197 billion higher natned said
soybeans were boosted by expectations that the agriculture department would report a healthy signup for the conservation reserve program which pays farmers to leave highly erodible land idle instead of planting a crop traders said
the department said lead and zinc prices fell while hardwood lumber and cement cost more
agricultural exports are to be increased by 180 mln dlrs or 48 pct per year on average
this years exports are estimated at 2400 tonnes
japanese shoppers pay an average of 2714 dlrs for a us tenderloin steak in a restaurant and an average of 4742 dlrs for a japanese produced restaurant steak the meat association said
the bond is due on may 15 1990 and interest is paid on that date annually
it is guaranteed by the bank of nova scotia
trizec corp ltd said it plans a 17125 mln dlr issue of class a subordinate voting shares consisting of five mln shares at 3425 dlrs each
the sec currently has about 2000 employees most of them lawyers and an annual budget of about 115 mln dlrs though that figure likely will be significantly higher next year as the agency moves to beef up its enforcement staff
cobanco inc cbco year net
in a pact last summer japan summer agreed to stop dumping its semiconductors at less than cost in the united states and other nations and to open its own market to the us products
butler co butc 2nd qtr feb 28 net
the sale price was not disclosed
since july leucadia said its companies have bought 947800 minstar common shares for a total of 247 mln dlrs
frances cna issues three billion franc bond
valley resources inc said its board declared a three for two stock split and raised the quarterly cash dividend on the pre split shares to 42 cts from 38 cts
eager technology inc said it signed a letter of intent to acquire nuclad inc a private colorado corporation and its subsidiaries
polish officials are unable to provide a precise breakdown of the figure saying it takes into account a number of hypothetical losses
moodys investors service inc said it may upgrade fleet financial groups 11 billion dlrs of debt
consumers and producers mindful of itc buffer stock losses have also sought strict conditions for buffer operations
kraft kra completes buy of quaker oat unit
but he did not elaborate or name any countries
representatives at the meeting said efforts would continue to be made to reach a regional consensus on export quotas which could be presented to the international coffee organization
non callable for life the issue is rated a 1 by moodys and aa by standard and poors
explosive fabricators inc 1st qtr jan 31 net
sankei building co ltd is issuing a 60 mln dlr equity warrant eurobond due may 7 1992 paying an indicated coupon of 2 1 8 pct and priced at par lead manager nomura international ltd said
for 1986 norstar issued 131 dlrs annually in cash dividends on its common stock
valhi said it has about 117 mln common shares outstanding with about 85 pct held by contran corp
between them these five countries had more than enough votes in the weighted voting system used in ec ministers meetings to block a decision jopling said
barco brc board approves leveraged buyout
the french cereals intervention board onic left its estimate of french 1986 87 july june soft wheat deliveries unchanged from its last forecast at 2198 mln tonnes
enka bv a subsidiary of akzo nv akzoas said it has concluded a licence agreement with the fibres division of basf corp of delaware a unit of basf ag basff of west germany in the us on the colback industrial non woven fibres
branch said he bought the stock as an investment but reserved the right to try to influence the company
eli lilly and co plans to sell its elizabeth arden subsidiary
winter wheat fair to good condition
he said the ec not only ignored manilas request for lower tariffs on coconut oil but proposed a levy on vegetable oils and fats that are vital exports for southeast asian countries
anacomp rose 1 2 to 6 3 4 on volume of 950000 shares after trading as high as seven earlier
the measures therefore aimed clearly at bringing monetary growth back onto the desired path he said
bangladeshs jute exports fell to 410 mln dlrs from 500 mln in 1986 87 according official figures
france reduces trade deficit in february
in 1986 it had operating revenues of about 13 mln dlrs the company said
trump agreed not to buy any more bally stock or to try to seek control of the company for 10 years it said
bank of france leaves intervention rate unchanged
this was owing to high prices for the countrys coffee exports low oil prices low inflation and rising real incomes he added
franklin california tax free income fund payout
kleinwort benson international investment ltds subsidiary kleinwort benson australian income fund a closed end management investment company declared its first quarterly dividend of 365 cts payable april 16 to shareholders of record april 1
dealers in frankfurt and zurich saw the dollar remaining broadly entrenched in its current trading range
non oil commodity prices will show a modest dollar price increase in 1988 for the first time since 1984 the eiu said
the fed funds rate was extremely volatile today reflecting demand pressure associated with the end of the quarter and the close of the japanese fiscal year
dominican alfredo ricart will take over as executive director of the international sugar organization iso in mid april iso officer in charge constantin politoff said
the form of the transaction has not yet been determined it said
professor lifts banc texas btx preferred stake
the nine creditor banks of the singapore coffee trader teck hock and co pte ltd are thinking of buying a controlling stake in the company themselves a creditor bank official said
proposed offerings recently filed with the sec
he said the two sides narrowly avoided a confrontation earlier this year over lost grains sales when spain and portugal joined the community and its liberal imports regulations were tightened to conform to ec standards
the sale is part of its restructuring the company said
the first of the aircraft will be delivered in october 1990 and the second in may 1991
international thomson organization ltd said it planned an issue in all of canada except quebec of two mln 185 dlr cumulative redeemable retractable series one preferred shares
the rights will expire ten years later on march 31 1987 the company said
us m 1 money supply rises 19 billion dlrs in feb 23 week fed says
trading surplus after depreciation 1457 mln stg vs 1581 mln investment and interest income 54 mln vs 38 mln interest payable 425 mln vs 439 mln profits from related companies less losses 238 mln vs 147 mln tax 514 mln vs 583 mln profit attributable to outside shareholders interests 126 mln vs 112 mln note extraordinary debit included charge for restructuring auto parts distribution in france and loss of 10 mln stg on sale of steel stock business
some us officials complained japan has no intention of boosting domestic demand and imports as washington wants
under the facility notes in denominations of 500000 dlrs will be issued with maturities ranging from one to six months
usair group inc said it entered into a credit agreement with a group of commercial banks to provide on a secured basis up to two billion dlrs to finance its pending acquisitions of piedmont aviation inc pie and pacific southwest airlines
analysts said they also expect crude oil stocks to build between 15 mln barrels and three mln from the 325 mln barrels reported by api for the week of may 22
however commission sources said the real cost was small if account is taken of the expense of keeping food in store until its quality and value deteriorates
hi net they added will continue to provide programming to holidays hotels
other factors supporting this bullish view were growing expectations that federal reserve chairman paul volcker would be reappointed for a third four year term in august japans larger than expected economic stimulus package last week and more favorably technical chart signals analysts said
if in effect now the bill would limit credit card rates to 138 pct compared to a nation wide average of 18 pct the subcommittee said
qtly div 35 cts vs 35 cts prior pay may 14 record april 30
i would say that what has happened to the yen in the past several weeks was not outside the range we agreed to in the discussions in paris miyazawa said yesterday
most analysts said that although the low gravity of the oil found would require additional costs in recovery the test well showed that it flows well
last year the sec charged members of the wealthy belzberg family of canada with taking part in a warehousing scheme while it was accumulating stock in ashland oil inc
he said the company present in africa since 1932 and with majority stakes in six breweries and interests in 25 was hampered by the lack of hard currencies there
pay date is april 21
new credit advanced by finance houses retailers bank credit cards and other specialist providers of credit slipped to 266 billion stg in january from 278 billion in december but remained close to the average level for 1986s fourth quarter the department of trade and industry said
german securities may be counted in lending ratios
magic years kidso to acquire three centers
judge to rule monday on burlington bur case
more
prime minister brian mulroneys government appears to want to avoid a dome sale to a foreign company since the government gave dome hundreds of millions of dollars in tax breaks to encourage oil and gas exploration in the arctic analysts and officials have said
western diplomats and military sources in the area said shelling the platform appeared to be the least provocative act the united states could have taken once it had decided to retaliate for the tanker attack blamed by both the americans and kuwaitis on iran
refined copper stocks held by refineries outside the us increased to a preliminary 277500 short tons at the end of december from a preliminary 270000 short tons revised higher at the end of november the american bureau of metal statistics said
stocks on sept 30 1986 at 947 vs 947 last month
unless we get government relief the company will be bankrupt in three years he told 
clayton homes inc cmh 3rd qtr march 31 net
technically analysts said there has to be a difference between the secured loans rate which applies to lending under the credit quota and the tariff on special advances which add extra liquidity to the money market
sallie mae said semiannual interest payments and principal at maturity will be paid in australian dollars adding it will enter into a separate currency and interest exchange agreement to convert its payment obligations to us dollars
they said the biggest was bci holdings 235 billion dlr offering on april 10 1986
bethlehem steel corp said prices for steel sheet products will be increased up to 30 dlrs a ton effective january 3
russo says it acted as broker for sofer
this compared with a year on year rise of 27 pct in january the lowest for 25 years and was the highest figure since october
pizza inn inc pza 4th qtr loss
but in a statement accompanying year end figures the group said it expected satisfactory business development over the next months
lennar said the debentures will continue to be traded over the counter
netherlands grants 47 mln dlrs to bangladesh
payment is due on april 8 and the warrants will be listed on the luxembourg stock exchange
the critical variable remaining in the market is the value of the dollar kahan said
we see it that way but we dont like to seem arrogant said a senior official who declined to be named
mielke expects the ratio to fall to 59 weeks by the start of next october and to the unusually low level of 54 weeks by the end of next season
pope evans has about 76 mln shares outstanding
soybean meal futures have also steadily declined in recent weeks setting a new contract low of 13970 dlrs per ton in the nearby march contract today
the rise in pre tax parent company profit was due to lower extraordinary expenses and higher net interest income
mony financial services said it purchased united administrators inc in an effort to secure a larger market share for its group insurance line
keller said she expects the company to split its stock and raise its dividend to at least three dlrs a share this year
there is no political motivation
nonetheless gorbachevs program appears too ambitious on a number of counts the report said
ranger said that under the deal it would retain a five pct gross overriding royalty on its stake from blocks east cameron 65 and 82 in the gulf of mexico offshore lousiana
japans minister of international trade and industry hajime tamura will meet representatives from 151 of the nations largest companies next week and appeal to them to do their best to increase imports ministry officials said
but inflation appears to be heading higher partly due to the lower dollar with consumer prices forecast to rise four pct this year and 45 pct next year after just 21 pct in 1986
cut were the companys senior debt to aa minus from aa and subordinated debt to a plus from aa minus
the company still faces uncertainties in the real estate market and anticipates further deterioration in the pportfolio so long as the regional recession persists first city said
but all participants representatives of the three biggest swiss banks the bankers association itself the churches and church charities agreed to condemn south africas apartheid policy both publicly and in contacts with business and government offices there
the fed said that banks net free reserves averaged 603 mln dlrs in the two week statement period that ended on wednesday versus 749 mln dlrs in the previous period
on september 20 the friday before plaza it was 242
each 50000 franc note carries 15 warrants
the mahanagar telephone nigam mobilised 383 billion rupees last year against authorised 15 billion and last month the indian railway finance corporations record susbcription totalled 55 billion rupees against authorised 25 billion
in its world production and trade report the department said the increase in tariffs on this category which includes sunflower corn and rapeseed oils was a reaction to importers using basket categories to avoid paying tariffs on specific high tariff products
for the fiscal year ended april 3 1987 electrospace systems had earnings of 10 mln dlrs on sales of 191 mln dlrs
diamond shamrock said it raised the contract price it will pay for crude oil 50 cts a barrel effective today
beghin say increases capital to finance expansion
capitol said its board raised the quarterly dividend to 23 cts from 22 cts a share payable april 28 record march 31
takefman said he expects sales to rise to about 100 mln dlrs this year from 573 mln dlrs in 1986
austria is issuing a 50 mln australian dlr eurobond due april 22 1992 with a 14 1 4 pct coupon and priced at 101 3 4 pct lead manager credit suisse first boston ltd said
reynolds said that winchester introduced in 1971 was a dominant brand in the little cigar market
orange ojay in definitive pact to sell units
weather forecasts say winds may ease during the weekend but a further drop in temperature could bring shipping to a standstill the officials said
the british petroleum co plc bpl oil refinery at grangemouth closed after an explosion and fire eight days ago is expected to partially reopen next week a refinery spokesman said
the company said completion of the transaction is subject to approval by both boards and basixs banks and the expiration of the hart scott rodino waiting period
the bond is in partly paid form with 25 pct due on april 15 and the remainder on july 15
sdc sydney development corp nine mths loss
but japan has said gatt is not the right forum
the ec commission met in brussels on friday to see whether the 12 ec cocoa consuming nations could narrow their differences at this months meeting
these firms are likely to join the syndicate which will increase the number of participants in the 10 year government bond primary market securities managers said
but one merchant bank economist said that certain anti tax avoidance measures could damage some sectors of the share market particularly multi national companies
the white house has completed a new review of japanese semiconductor trading practices but has not yet decided whether trade sanctions levied against japan last april should be lifted us officials said
guinness plc guinl said it has started court proceedings against former chairman and chief executive ernest saunders and non executive director thomas ward for recovery of 52 mln stg
ameritrust corp said its board declared a two for one stock split and management intends to recommend to directors an increase in the quarterly dividend to at least 50 cts per share presplit from the current 44 cts
also excluded would be interest rate and foreign exchange contracts traded on organized exchanges
olson olsn to have loss from egg unit sale
it said great lakes group inc will buy 3750000 shares from the underwriters after closing and grant the underwriters an option to repurchase 150000 shares
acs enterprises inc acse 4th qtr loss
microtel inc makes acquisition
coal costs were down 03 pct last month after rising 04 pct in january and were down 08 pct from a year ago
the first boston corp drexel burnham lambert inc merrill lynch capital markets and prudential bache capital funding are the underwriters offering the stock said pennsylvania power
greece and turkeys nato allies today called on both countries to avoid any action that could aggravate an explosive situation in the aegean and avoid recourse to force at all costs after an emergency meeting of nato ambassadors a statement was issued saying the present situation damages the interests of greece and turkey and of the alliance as a whole secretary general lord carrington also offered himself as a mediator in the dispute on the western alliances southern flank
usair said the order was issued in response to its suit charging twa chairman carl icahn and twa violated federal laws and made misleading statements
when asked if there is a rising danger of a worldwide trade war baldrige said yes i dont think theres any question about that
non callable for five years todays issue is rated a 1 by moodys and aa minus by s and p
gaviria submitted to the world bank and the inter american bank last week in new york a borrowing plan for a total of 3054 billion dlrs to be disbursed over the next four years which he said was approved
analysts said the yen also gained as traders unwound long sterling short mark positions established lately
sg warburg and co ltd is arranger for the financing the bankers said
thus although there were 103 billion dlrs of repos outstanding on wednesday night the fed may have wanted to add even more reserves but was prevented from doing so
the value of the contract was not disclosed
shr profit 17 cts vs loss two cts net profit 520000 vs loss 51000 sales 111 mln vs 6897000 1st half shr profit 34 cts vs profit 12 cts net profit 951000 vs profit 320000 sales 206 mln vs 149 mln
the failure of the international coffee organisation to agree on the reintroduction of export quotas would mean several african countries will not have the foreign exchange to import essential items he said
varian var buys analytichem international
the central bank last night raised the requirement by one percentage point to 19 pct from march 13 saying that excess liquidity threatened money supply and inflation targets
advisories for low wind chill temperatures have also been posted across portions of upper michigan and northern lower michigan
the paper quoted unnamed industry sources as saying american will buy 25 wide bodied planes from airbus 15 wide bodies from boeing and 80 engines from ge
trus joist said it expects to close the transaction before june 30
given the system of floating exchange rates it was necessary for central banks to agree to intervene
that means were going to have to work on our twin deficits both the budget deficit and the trade deficit regan said
the bonus will be paid in the form of commodities from the inventory of ccc stocks
since december nearly five mln french investors have bought shares in cie financiere de paribas paripa and glass maker cie de saint gobain sa sgeppa the first two state companies brought to the stock market under the 300 billion franc five year privatisation plan
however in general plant development was at least three weeks or more behind normal this spring and conditions varied greatly by regions the report said
asarco ups us lead price 050 ct to 27 cts
in a statement outlining the budget for the fiscal year 1987 88 beginning today finance and petroleum minister sheikh abdul aziz bin khalifa al thani said the government expected to spend 12217 billion riyals in the period
he said demand in rural areas will in future rise an annual four pct with demand in the cities rising an annual two pct
bank of tokyo curacao issues canadian dollar bond
kuwaiti oil minister sheikh ali al khalifa al sabah said in a newspaper interview that no opec member was exceeding oil production quotas allocated by the 13 nation group
it said the division has yearly revenues of about 12 mln dlrs and makes rf microwave components for the defense electronics industry
he said by the end of the current fiscal year the deficit would probably be reduced by around 35 billion dlrs against last year and that the budget being worked on this year would contain a major reduction
japans chip makers angered by us sanction plans
rainfall in the past few days has eased the threat of drought in the south china province of guangdong the new china news agency said
mayfair super markets myfra sales increased
if confirmed the toll would make the incident the worlds worst since a soviet liner the admiral nakhimov collided with a freighter in the black sea last september and sank with the loss of nearly 400 lives
grade 92 octane will be 906 cents against 876 previously
pennwalt corp said it has agreed in principle to acquire a line of fungicides insecticides and herbicidesand related manufacturing facilities from le raffineries de soufre reunies of marseilles for undisclosed terms subject to approval by bothe boards and government authorities
the bureau said upland cotton ginnings from the final 1986 crop totaled 9237296 bales vs 12837088 bales in 1985 and 12418749 bales in 1984
gold imports in jan dec 1986 totaled 15749447 ounces vs 8225999 ounces for the same period in 1985 while exports stood at 4612919 ounces and 3966678 ounces over the respective periods the bureau said
the issues were difficult to trade because they comprised securities of variable nominal value it noted
a us defence department official in washington said the station was still functioning
the report said that since much of the early growth in february was from late seeding rather than from normal development his view was that the damage may be more extensive than some local observers say
x broken kernels not included supply minus use does not equal ending stocks in breakdowns
we didnt find anything so we stopped doing it a us embassy spokesman said
standard oil co srd said in a brief announcement issued after a meeting of its board of directors that british petroleum co plc bpl bp has extended its 70 dlr per share tender offer until midnight may 4
call money could come under upwards pressure later this month because of a major round of tax payments by banks on behalf of customers starting in the week beginning june 15
brazil will import 30000 barrels per day of crude oil from kuwait a spokesman for the state oil company petrobras said
libra bank expects brazil to reach debt accord london march 5 london based libra bank plc said when announcing its 1986 annual results that it expected brazil to reach agreement with its creditors over debt repayments
each warrant entitles the holder to acquire one non cancellable share certificate
imports were about 249 billion dlrs in 1986 against 187 billion in 1985 according to preliminary estimates
the last poor temporao was in 1984 when prolonged drought and later pod rot cut production to 179 mln bags the lowest since 1974
it said similar inquiries are being conducted by the securities and exchange commission
it made the request by telephone
normal work resumes at new zealand ports
this purchase represents 30 pct of the outstanding shares
energy drilling industry
poehl is in a minority in his own house said commerzbanks pfister
west texas cotton crop unscathed by storm
baxter travenol labs bax 3rd qtr shr net
the energy sector saw a slight 1 2 pct rise the ministry added
banque paribas which arranged a 220 mln dlr loan for ecuador last year to pre finance oil exports wants to adjust the terms of the facility to help the country recover from a devastating earthquake bankers said
with cotton more attractive price wise i think there is going to be a switch in acreage from soybeans to cotton
the company said it will also receive an additional 100 to 250 mln dlrs in five years based on the operating performance of the unit
but cumulative beef output for the first seven months of fiscal 1986 87 ending june 30 rose to 838416 tonnes from 746837 a year earlier following a rise in cattle slaughter to 384 mln head from 340 mln
however before the talks began tanjug said the agreement should cover 16 billion dollars of debt due this year and 35 billion due in 1988
the promising japanese beef market could be one of the bright spots for us agricultural exports said philip seng asian director for the federation
shr 62 cts vs 58 cts qtly div 13 1 2 cts vs 13 1 2 cts prior net 388 mln vs 357 mln revs 118 billion vs one billion six mths shr 84 cts vs 86 cts net 52 mln vs 529 mln revs 214 billion vs 182 billion note results include charge of four cts shr for latest six mths vs credit of five cts shr for prior six mths from investment tax credit dividend payable june 12 record may 21
a hearing is set for march 20
details of fees were not immediately available
balladur urges g 7 to respect pledges on monetary policy in louvre accord
bfim sovac offers bond redemption
the bundesbank spokesman noted that by bidding only 122 billion marks below the outgoing 149 billion banks themselves had shown they felt they had plenty of liquidity
the purchase of cleveland is a further step in saatchi and saatchis fast growing consulting industry the company said
he said brazils current quota reflects the reality of the market allows for an orderly supply and satisfies demand but added more clarity was needed to assess the criteria that determined it
the paper said that last month us intelligence sources said they had spotted land based anti ship missiles of a chinese design known in the west as the hy 2 near the strait of hormuz
delegates said most countries now favour a continued legal itc presence to answer the still unresolved legal disputes over the outstanding debts of its buffer stock with court hearings likely to continue well after the june 30 expiry of the pact
terms of the merger called for each share of arrays to be exchange for a share of haba in a transaction valued at 41 mln dlrs the company said
the stock has fallen 2 1 4 to 56 1 8 so far today after the news about the suit was released this morning
the bank of england said it has forecast a shortage of around 700 mln stg in the system today
analyst alan gottesman of lf rothschild unterberg towbin inc said the bass group has been increasing its stake in the belief the company would be worth more with a change in its strategy
it estimated the 1985 86 crop at 8581 mln tonnes vs 8581 mln last month
he told reporters the deposits located at four sites near the town of san ignasio contained the equivalent of 100 tonnes of gold
we want the un peace initiative to work if theres any chance at all he said adding that the action made it clear tougher steps would follow if iran to attack gulf shipping
apt vice president wim huisman told a news conference a capital increase was envisaged if sat apt wins cgct but declined to give details or say how an increase would affect foreign stakes in cgct
corning to offer 05165 share for each hazleton share under earlier agreement
henry schroder wagg ltd which has already formed a group of 19 co managers
the official industrial growth target this year is seven pct down from an actual 92 pct last year
the discount rate has been the markets penalty rate rather than a guiding rate since 1985 and its advances are currently little used as liquidity is ample bank economists said
aramcos only refinery at ras tannurah processed 14244 mln barrels 390246 bpd of crude last year
pepco pom two mths feb 28 net
for the two week bank statement period as a whole the daily borrowing average more than doubled to 381 mln dlrs from 160 in the prior period
the electrolytic refining and smelting co of australia pty ltd said it lowered its ex works port kembla refinery copper price by 20 dlrs to 2160 dlrs a tonne effective today
the italian treasury said it had closed its latest offer of 10 year variable coupon certificates ccts early after receiving subscriptions totalling 11500 billion lire
petrobras said in a statement today it had requested the withdrawal of the troops
sclumberger had said that controversy surrounding the venture made it unlikely the sale could be completed any time soon
in a speech to a european community oapec opec seminar in luxembourg released here al wattari said opec believes the world energy trade should be kept without restrictions and should be built around a fixed average price of 18 dlrs al wattari noted that total opec output was below the organizations agreed ceiling for all member countries in february although this had meant sacrifices
i have no knowledge and i really dont think anyone other than the soviets have any knowledge lyng said he thought the soviets bought us corn last month because they needed it and because the price was right our corn has been pretty reasonably priced
a free trade pact between the united states and canada could spur the economies of both sides substantially according to a study released by the institute for international economics
a final decision is expected in april
la electricidad is seeking permission for a 50 pct rate increase which officials say would bring in an extra 13 billion bolivars this year
kohlberg kravis roberts and co also owns 497 pct of union texas and the remainder is owned by management
he supported that by saying the narrow m0 money supply aggregate was safely inside its flucuation band of two to six pct set for both 1986 87 and 1987 88
the united states raised its contribution to 190 mln dlrs from 86 mln and the netherlands raised its figure to 232 mln guilders from 180 mln
brown transport btci sees record 1987 net
shr 71 cts vs 43 cts net 7274000 vs 4447000 rev 1616 mln vs 776 mln year shr 151 dlrs vs 132 dlrs net 15401000 vs 13525000 rev 4540 mln vs 3049 mln
ashland oil ash sees 2nd qtr oper loss
the first two banks have been liquidated which enabled partial repayment of advances and the remaining two banks were sold and the new owners repaid the advances
the company said it is evaluating two separate proposals and will complete the sale within 10 days
galveston resources ltd said it agreed in principle for an option to earn up to a 50 pct interest from hemlo gold mines inc in certain mining properties known as the interlake property subject to regulatory approvals
reference new york grain freights 1 of april 8 ship brokers say the vessel fixed by cam from the great lakes to algeria at 28 dlrs is reported to be the vamand wave
toshibas timing seems most unfortunate for the company as it comes exactly when we are looking for someone to punch one official told 
southern so to take charge on vogtle cost
ibm said the new organization will oversee the technical and marketing support of rolm and ibm telecommunications products but will not be responsible for sales and marketing of ibm gear
in february brazil had contracted to buy 125000 bpd from the saudis until june
taking advantage of scarcity private roasters were selling ground coffee mixtures which were 75 pct non coffee it said
new process co noz sets qtly payout
period ended jan 31 net loss 89255 vs loss 277536 sales 913136 vs 854194 six mths net profit 481372 vs loss 555722 sales 1845532 vs 1754076
he said also at a news conference that he would recommend to the white house that the fill rate of the strategic petroleum reserve be increased from its planned 35000 barrels per day
profit on sale of fixed assets 23 mln guilders vs 62 mln
period ended may 31 oper shr 31 cts vs 29 cts oper net 552035 vs 525729 sales 367 mln vs 291 mln nine mths oper shr 108 dlrs vs 104 dlrs oper net 1931488 vs 1864075 sales 1049 mln vs 876 mln note 1986 period ended june one note earnings exclude gain on disposal of discontinued operations of 162000 dlrs or nine cts a share vs loss of 585175 dlrs or 33 cts a share in the quarter and a gain of 432000 dlrs or 24 cts a share vs a loss of 585175 dlrs or 33 cts a share for the nine months 1986 earnings exclude losses from discontinued operations of 111024 dlrs or six cts a share in the quarter and 237773 dlrs or 13 cts a share for the nine months
landmark savings lsa completes office sale
contel officials declined to comment on the possibility of selling any operations
west german aid to bolivia will rise to 91 mln marks in 1987 from 50 mln in 1986 west german president richard von weizsaecker said
becor western the amended davis mining offer is suject to confirmation of certain due diligence information
the finance ministry sources gave no details of the groups interested in cgct but several have publicly announced their candidacies
annualised it rose 13 pct in december against seven pct in november and one pct a year earlier based on the ratio of the latest index to the average over the previous 12 months
sales and operating revenue fell to 31 billion stg from 42 billion on a replacement cost basis
while some analysts estimated the company was worth in the mid 30s at least one said it would be worth 38 to 42 dlrs
we have had a second agreement but with the second agreement weve had difficulties with prices melnikov said
rexnords 50 mln dlrs of 12 3 4 pct debentures of 1994 were cut to b from a minus to reflect the merger with banner
ec concerned over us textile import moves
lucky stores inc said it and investor asher edelman agreed on a settlement that prohibits edelman and his group from taking specified actions to obtain control of the company and that limits the edelman groups ownership of luckys stock to less than five pct of any voting securities
japans lipc to buy beef on april 23
meals and feed on a cif rotterdam basis opened quietly this morning with mixed to slighlty firmer seller indications compared with yesterdays midday levels market sources said
ibm acquired rolm a santa clara calif based maker of telephone swichboards and other telecommunications equipment in 1984
period ended jan 31 shr seven cts vs 14 cts net 136000 vs 274000 sales 484 mln vs 382 mln nine mths shr 30 cts vs 17 cts net 573000 vs 328000 sales 1400 mln vs 1024 mln note prior year period ended sept 30 comparable periods reflect change in fiscal yearend to april from december
a fourth national spokesman said the deal was for cash but would not disclose the amount
ich officials were unavailable for comment
ps group inc said it and usair group agreed to move up the completion date of usairs acquisition of pacific southwest airlines to april 30 from september 30 originally
the country has an imf quota of 1371 mln sdrs 175 billion dollars according to the funds 1986 report
fleet financial group 1st qtr shr 73 cts vs 60 cts
qintex said the letter of credit is to insure payment of princevilles contingent subordinated notes that would be distributed to shareholders of record on the date immediately following completion of the tender offer
usx x chairman calls for lower dollar
illinois power ipc files 50 mln dlr shelf
allegheny ludlum corp initial public offering of 5165000 shares of common stock including 765000 by current holders at an estimated 21 to 24 dlrs a share through goldman sachs and co
such expectations are now ingrained which was partly the fault of nakasone who heralded maekawas report as a sea of change in japanese affairs said us officials
bayer usa bayry affiliates increased sales
opecs overall ceiling is 166 mln bpd
home savings bank hmsbo 3rd qtr net
this order included highly stringent performance standards for the companys five nuclear plants the ratings agency said
coupon rates on 10 year certificates maturing march 1995 will fall to 980 pct from 1365 pct and rates on 10 year issues maturing in march 1996 would fall to 1005 pct from 1430 pct
the share certificates issued through the conversion will be distributed to noteholders beginning march six savin added
we are confident we can service our debt and bring it down in the very near term based on strong cash flow from brunswicks expanded boat operations florjancic said
united said the approval would lead it to an equity return level comparable with the electric utility industry average
the us agriculture department has lowered its ascs terminal prices for low protein hard red winter and hard red spring wheat at a number of locations a senior usda official said
it also said that based on current trends its largest division should report vastly improved second quarter traffic compared to last year which resulted in a load factor of 457 pct for the second quarter of 1986
the company said the mine would produce approximately 158000 ounces of gold per year over the first four full years of operation from 1989 through 1992 and at an average 133000 ounces a year over the full projected 11 year life of the mine
industry sources expect china to import at least 10 mln tonnes of grain this year because of the harvest shortfall
brazil seeks to reassure banks on debt suspension
indonesia cannot spend its way out of recession and has very limited economic options due to lower world oil prices central bank governor arifin siregar was quoted as saying by the official antara news agency
however orange production in the region for marketing year 1986 87 is forecast at 565000 tonnes or 25 pct of the total italian orange crop it said
analysts estimated the 100 dlr per share offer from general partners is 10 to 20 dlrs per share below the breakup value of gencorp
brazils other major crop cocoa is in its third year of surplus
he said the decline in interest rates since president reagan took office remains one of the significant accomplishments in the economic area of this administration
hilton hotels corp expects earnings per share for first quarter fiscal 1987 to march 31 to be about 90 cts compared with 70 cts a year earlier hilton hotels division president carl mottek said
qtly div 10 cts vs nine cts payable june one record may 15
adtec inc jail 3rd qtr feb 28 net
winchells donut houses lp said it has declared an initial quarterly dividend of 45 cts per unit on class a and class b limited partnership units payable may 29 to holders of record march 31
in a filing with the securities and exchange commission the warburg pincus group said it bought the stake for investment purposes
warrington inc said it sold its shoe divisions to montreal based taurus footwear inc for undisclosed terms
us officials said japan had done nothing since the march announcement to alter reagans plan to invoke the sanctions
baldrige says changes needed in exchange rates of currencies pegged to dollar
the net proceeds to the company total 28 mln dlrs the company said
weizsaecker said argentina has had difficulties with the european community over trade barriers and subsidies for grain exports
the group said the federal government should preempt state regulation of defensive takeover tactics
we believe the euroyen bond should remain mainly in the euroyen market he said
in december japan line asked banks to shelve repayment of about 124 billion yen in outstanding loans and about 153 billion in loans to its subsidiaries
it did not say what the minimum will be
but he said the market is sensitively looking at what is happening in major nations
volcker urges quick aid to debtor nations
he felt that the us recovery inching along in its 59th month could no longer be the only engine of global economic expansion
butterwick told reporters that despite the drop and low freight rates the shipping conference he heads will increase the frequency of sailings to south africa as a very strong act of faith and confidence in the countrys future
economists said oil earnings could recover this year to about 20 billion dlrs and nominal gross domestic product could grow by about three pct the first rise since 1982
they were 202 billion in february 1986
and if us west texas intermediate crude continues to trade above 20 dlrs a barrel there is a greater chance that opec will raise its official 18 dlrs price said nauman barakat analyst at smith barney harris upham and co
if the regulation is not extended beyond its april 3 expiry date many commercial banks will have to reduce foreign exchange holdings to a maximum 20 pct
this is because the overall foreign exchange market is a triangle of dollar yen european currencies yen and dollar european currencies
usx was trading up 1 8 at 28 1 2
the energy security issue should be considered when environmental issues are considered martin said
the seven day repurchase rate has also been unchanged at 8 3 4 since it was raised by a half point on january 5
this struggle between the companies and opec is the ultimate game of chicken but it will be resolved relatively soon
transtar said the new april one schedule will offer 21 daily departures from new orleans to 11 cities in florida texas nevada and california
mclean industries inc said its shipping subsidiary united states lines inc reached an agreement in principle to transfer its south american service to american transport lines inc a subsidiary of crowley maritime corp under the terms of the agreement united states lines will lease five vessels to american transport for 15 months with an option to extend the period up to 10 years the company said
holiday corp hia to redeem two bond issues
on friday washington announced plans to put as much as 300 mln dlrs in tariffs on imports of certain japanese electronic goods in retaliation for what it sees as tokyos failure to live up to their bilateral chip pact
first federal delaware agreement extended
publishers equipment corp said it reached an agreement to incorporate flexo printing technology into the tentonian an ingersoll newspaper in trenton nj it said that mid 1988 will be the target date for start up for the new equipment which will double the size of its present press
commenting on the two week statement period ended february 25 the fed said that banks had average net free reserves of 644 mln dlrs a day down from 134 billion two weeks earlier
chilis named goldman sachs and co and alex brown and sons inc as underwriters
shr 45 cts vs 43 cts net 1503000 vs 938000 avg shrs 3358664 vs 2158664 note company had its initial public offering of 1200000 shares in october 1986
a foreign banker close to the debt negotiations said he did not foresee any real boom until 1989
1986 nine month results include 1804000 dlr gain from june 1986 sale of national sanitary supply common stock in an initial offering
the official said ecuador could resume exports after repairing a 40 km section of the 510 km pipeline which links jungle oil fields at lago agrio to balao on the pacific coast
neda said gnp had grown 356 pct and gdp 325 pct in the fourth quarter of 1986 from a year earlier
the company said it expects to report a loss for the year of about 3125000 dlrs due to lower oil and natural gas prices unsuccessful well workover programs and excessive overhead and corporate expenses
he said 18 to 19 billion dlrs were eliminated by one time measures such as a temporary increase in taxes related to tax reform and sales of government assets
the mint said that firms in submitting their offers select to receive payment by standard check or be wire transfer
shr one ct vs five cts net 42469 vs 226791 sales 7963620 vs 6886414 nine mths shr 12 cts vs 22 cts net 490927 vs 949650 sales 240 mln vs 187 mln
the three year cds are denominated in 100000 dlr units and will carry interest at 375 basis points below the three month new zealand bank bill rate
japan central bank intervenes in tokyo afternoon
liedtke did not say how large the unusual item would be
duff and phelps selected utilities inc said it approved payment of higher monthly dividends
but he declined to comment on rumours the company would take a 10 pct stake in shearson lehman brothers an investment banking unit of american express co axp he said the firm started to sound out several us investment banks on capital participation about 18 months ago and was narrowing the number of prospects but he did not say if it had set its sights on one firm
the administration opposes any legislation that would tie its hands in votes on the loans
economist calls brazil debt request modest
in a clear reference recent events he said those in the city who act for companies or individuals must i suggest be ready to accept a full measure of responsibility even if it entails opprobrium for the transactions that may result they should exercise the most careful judgment at the outset with respect to the clients for whom they act and the activities contenplated
swedens ruling social democratic party gave full power to the government to decree unilateral trade sanctions against south africa prime minister ingvar calrsson said
sallie mae said proceeds will be used for general corporate purchases
finance ministry officials declined comment but said the ministry has been aware of growing calls from securities houses for 10 year bond auctions
interest on the notes is due today
prior year net excludes tax credits of 5775 dlrs in quarter and 17325 dlrs in nine mths
she gave no dates or prices for the transaction but said the units would be sold by negotiation
shr 28 cts vs nil net 4568000 vs 7000 revs 375 mln vs 7835000 year shr 13 cts vs nil net 5011000 vs 30000 revs 1455 mln vs 510 mln note current year results includes revs of 872 mln dlrs from chocolate co inc which was acquired in march 1986
the company also said it plans to file soon for an offering of up to one mln new shares which would give it a total of about 8850000 post split shares
many bond traders in tokyo are doubtful that sterling will further appreciate steeply
oper shr 29 cts vs eight cts oper net 222143 vs 76605 revs 4872279 vs 3276404 12 mths oper shr 17 cts vs 28 cts oper net 111280 vs 301623 revs 139 mln vs 111 mln note 1986 yr figures excludes extraordinary item of 574363 dlrs or 60 cts per share for termination of its non contributory pension plan
megavest industries inc said it has agreed in principle to acquire unlisted computer trade development corp in exchange for 119 mln shares of its common stock
intnl platinum degussa in joint venture talks
shr loss 42 cts vs loss five cts net loss 40 mln vs loss 446000 revs 589 mln vs 703 mln note1986 net includes gain of 40 cts from discontinued operations
moodys said its focus will be on halls brokerage business and contingent liabilities associated with the unit union indemnity insurance co
the market was originally forecast to open with average five stg gains from last night following new yorks firmer close yesterday dealers said
holders of existing preferred would hold about 35 pct of the new common
about 60 of mexicos 430 or so creditor banks worldwide have still to join the loan but four more acceptances were received today according to senior citibank executive william rhodes who is co chairman of mexicos advisory committee
pay date is may 7
delhi australia fund owns delhi petroleum pty ltd which holds an average of 25 pct in the santos ltd stoss led cooper and eromanga basin gas and liquids projects
the pipeline was shipping roughly 225000 barrels of crude oil per day or about 55 pct of its capacity during the 30 days preceding its shutdown on saturday stevens said
japan bought 4000 tonnes of canadian rapeseed overnight at an undisclosed price for last half may first half june shipment trade sources said
term of the debt held by insurance company lenders will be extended by one year until december 1990 by reducing the principal due last year and this year
last week nec corp said it would cut production in line with mitis request
the rating agency cited alleghenys high leverage and poor operating performance as well as reduced cash flow
the company also altered its employee retirement and stock incentive plans to assure continued protection and benefits for employees in the event of a hostile takeover
by this friday sources estimated a further 233600 tonnes of cereals will have been loaded comprising 47000 tonnes of barley 78600 of wheat and 25000 of rapeseed for the soviet union 30000 of wheat for sri lanka 28000 of wheat for china and 25000 of wheat for poland
unlike current debt equity schemes ongpin said the pins would include no government fees and would be free from administrative hassles he said about six investment banks had been approached and four had replied so far
compromise seen likely over conoco statoil dispute
analysts peg us cotton seedings 106 mln acres
the issue was increased from an initial offering of 75 mln dlrs
the guarantee rates include a charge to provide for a yearly interest rate coverage of up to 45 pct on the guaranteed value the department said
a far better answer than protectionism would be structural change within the japanese economy the kind suggested by the maekawa report
supplies mideast tension fuel gains in oil
graan elevator mij gem said its balance in port of grains oilseeds and derivatives rose to 70000 tonnes on march 21 compared with 10000 a week earlier after arrivals of 192000 tonnes and discharges of 132000 tonnes last week
south american fish meal production at record high
bankers welcomed the bank of spains decision to raise the reserve requirement for banks and savings banks saying it reflected the socialist governments determination not to ease up in the fight against inflation despite the painful social effects of four years of austerity
at march 31 the allowance for loan losses was 1142 mln dlrs versus 948 mln at end of march 1986
our formula builds flexibility into the system and will benefit almost everyone although full implications of the new formula have still to be worked out initial estimates suggest countries such as colombia kenya indonesia and costa rica would get slightly higher quotas while others such as the ivory coast el salvador and nicaragua would lose quota share van horick said
fixed rate cmo yields are 7153 to 897 pct for maturities of 2004 to 2017 and average lives of 25 to 2399 years
the hong kong economic journal last month quoted a spokesman of australian stock broker jacksons ltd as saying that barwon farmlands ltd an australian firm owned 30 pct by ariadne australia ltd was planning a filipino branch in order to buy the entire block of 381 mln shares
houston lighting and power co a unit of houston industries inc said it will redeem on may 4 at par plus accrued interest about 140 mln dlrs of first mortgage bonds
trade department officials said the improvement in britains current account contrasted with most private forecasts and they attributed much of the strength to imports rising less quickly in february than might otherwise have been expected
a bank of japan spokesman declined to comment on a press report that the central bank had decided to conduct closer scrutiny of the operations of financial institutions in the bond market
investors then can maintain their holdings sell them or offer to hold on to the securities if the auction dividend is at least at a level they specify in advance
he told a lower house budget committee in parliament that credit conditions have been eased by the five discount rate cuts by japan since the beginning of last year
the administration said it opposed the bill because by expanding the 400 mln dlrs in disaster relief it would thwart efforts to encourage farmers to buy crop insurance as an alternative to federal disaster assistance
earlier supermarkets general said an unsolicited third party had made the offer
it said that despite flat revenues atts interexchange business and strong cash flow should sustain the current level of debtholder protection for the next several years
gradin cautioned that legislation upon which the boycott would be based was not impossible to get round
south korea raises naphtha price
this takes the banks total help so far today to 508 mln stg and compares with its revised estimate of a 900 mln stg shortage in the system which it earlier revised up from 850 mln
japans largest bank the dai ichi kangyo bank ltd is also considering expanding its business here bankers said
they said the difference between bids and offers widened
am international inc reporting an operating loss for the january 31 second quarter said prospects for the balance of the fiscal year remain good
media group john fairfax ltd ffxas said that its flat first half net profit partly reflected the impact of changes in the australian tax system
this budget was incredibly bullish for the gilts market morgan grenfell and co ltd economist stephen bell said
the west german governments independent council of economic experts believes a further stimulation of the economy is inappropriate government spokesman friedhelm ost said
the commodity credit corporation ccc has reallocated 13 mln dlrs in credit guarantees originally granted to cover the sale of protein meals to el salvador so it may buy rice the us agriculture department said
outgoing deputy treasury secretary richard darman told television interviewers he did not think a policy of driving the dollar down would solve the us trade deficit
union carbide corp said its 1986 long term debt was 306 billion dlrs compared to 171 billion dlrs in 1985
kleinerts inc klrt 1st qtr ends feb 28 net
he expects only five to six pct m 1 growth in march and rises in m 2 and m 3 of about four pct
texaco canada inc txc 78 pct owned by texaco inc tx is at 34 7 8 up from a low of 24 1 2
many factions within the ldp are distancing themselves from nakasone uchida said
libya was also a buyer this week taking two cargoes of whites which for an undisclosed shipment period were reported priced around 229 230 dlrs a tonne cost and freight they added
cash market prices also firmed on the news with sellers of wti raising offers to 1960 dlrs a barrel
european beet plantings seen little changed
neoax said it expects a gain of about nine mln dlrs on the transaction which is expected to becomleted during the second quarter adding the gain will be sheltered by its tax loss carryforwards
saudi crude oil output last month fell to an average of 35 mln barrels per day bpd from 38 mln bpd in january gulf oil sources said
a lower than expected brazilian crop may cut the 1986 87 world surplus to between 50000 and 70000 tonnes compared with a recent forecast by the icco statistics committee of 94000 tonnes traders said
douglas computer international year net
us minerals said the mine is designed to operate at an average of 12500 tons or ore per day and is projected to produce 95000 ounces of gold in 1988 plus significant quantities of silver lead and zinc
however it proposes issuing new equity in a subsidiary that would operate dome assets
canamax and pacific trans ocean said the project would yield a 40 pct after tax real rate of return at a gold price of 400 us dlrs an ounce
parker said a combined purolator and emery would rival united parcel service as the second largest us package delivery company after federal express corp fdx which has 47 pct of the market
mueller said it would be both difficult and dangerous for monetary policy to pursue a specific mark dollar exchange rate
southern natural gas co a unit of sonat inc said it filed with the securities and exchange commission a registration statement covering a 100 mln dlr issue of debentures due 1999
shr loss 23 cts vs loss 11 cts net loss 1128412 vs loss 548054 sales 9827784 vs 121 mln nine mths shr loss 19 cts vs profit 11 cts net loss 926924 vs profit 527004 sales 323 mln vs 375 mln
the pact was a major turning point in us policy ending a period of disdain for economic cooperation and intervention in currency markets
the 1986 annual report of zambias state run metal marketing corporation said 81 pct of the countrys metal exports were channelled through dar es salaam last year versus 79 pct in 1985
it said lead underwriters are goldman sachs and co and alex
healthmate inc hmte 4th qtr loss
the ministers were also due to discuss proposals in the us congress for a range of protecionist legislation such as a bill that would curb ec textile exports
shr 50 cts vs 47 cts net 2646000 vs 2611000 sale 414 mln vs 387 mln nine mths shr 113 dlrs vs 104 dlrs net 6038000 vs 5545000 sales 1172 mln vs 1084 mln
regular trading hours for the contract will be from 0900 to 1305 central time
this could turn into a serious political problem west german trade sources said they believed the one mln tonne offer by the ec sugar industry into intervention would have a neutral market impact overall
ceasars wold inc said its board is studying the unsolicited and conditional tender offer for all its common shares at 28 dlrs per share from martin t
hydro quebec issues canadian dlr bond
if the loan is approved over us objections the united states would not increase or replenish funds for that institution until it agrees to stop making such loans
investors have been stuck with billions of dollars of notes on their books that no one else will buy
the government meanwhile declared the port jobs an essential service and said the strikers could be dismissed unless they end the strike soon
us factory production of inedible tallow and grease amounted to 4215 mln lbs in february vs a revised 4715 mln lbs the previous month and 4192 mln lbs in the year ago period the census bureau said
redstones company owns 196 pct ov viacoms 35 mln shares
the company said it hoped to resolve its debt problems in the near future
ended january 31 shr nil vs nil net profit 351000 vs loss 243000 sales 7050000 vs 7012000 avg shrs 106780000 vs 93666000 six mths shr loss one ct vs loss one ct net loss 999000 vs loss 563000 sales 106 mln vs 130 mln avg shrs 106641000 vs 92986000
he said more than 75 pct of the imports come from the us and the rest from south africa
he also said monier will not now proceed with the one for two bonus issue announced with its interim results on march 19 in view of the proposed takeover bids
grain traders said they were still awaiting results of yesterdays uk intervention feed wheat tender for the home market
canadas clark sees trade as most urgent problem
the debentures have a 9 1 8 pct coupon and were priced at 9975 to yield 146 basis points over comparable treasury bonds
under proposed rules a shipping certificate has a limited life as it expires 30 days following the last day of trading of the expiring contract month
the orenda division maintained a high level of activity in aircraft engine repair and overhaul and in the manufacture of engine components
by march 10 only 230000 bags had been shipped the sources said
strike to close new zealand ports on monday
the redemption resulted in the issuance of 2685142 shares of the companys common stock western digital said
lets face it
shareholders approved an increase in authorized shares to two billion common and two mln preferred with a par value of 0001 dlrs per share
nippon signal co ltds 50 mln swiss franc five year notes issue with warrants has been priced at 1 1 4 pct compared with the originally indicated 1 3 8 pct lead manager morgan stanley sa said
executives at the company were not immediately available to provide additional details
unicorp canada corp told the securities and exchange commission it cut its stake in purolator courier corp to 286500 shares or 37 pct of the total outstanding from 962400 shares or 124 pct
late in the month harper and row said its board had received expressions of interest from a number of domestic and foreign companies
soybean oil 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 161 151 137 136 production 1420 1413 1365 1366 imports 331 329 308 305 consumption 1402 1403 1333 1340 exports 333 335 315 316 end stocks 178 154 161 151 note imports and exports do not balance due to differing marketing years and time lags between reported exports and imports
certificates are also an important part of any export promotion program he said
us soymeal indicated between unchanged and one dlr a tonne lower compared with yesterday
the deal is expected to close in the second quarter the bank holding company said
metropole recently won the concession to operate a sixth television channel in france
the report said trade contacts agree that about 15 pct of the orange output in calabria was damaged by frost
the market in floating rate notes showed no clear signs of recovery today from the confusion which sent prices tumbling and paralysed trading at the end of last week dealers and bank officials said
cattle futures posted new highs on the chicago mercantile exchange while live hogs rallied from early losses and frozen pork bellies finished sharply lower
transtech industries inc trti year net
they were willing to absorb foreign currency risk until mid 1986 when sharp slides posted by the australian and new zealand dollars brought such issuance to a quick halt
uk feb retail prices up 04 pct base revised year on year rise 39 pct official
penney chairman william howell said store sales were strongest during the early part of the month while catalog demand was consistently strong throughout the period
hokkaido takushoku convertible eurobond coupon cut
and accrued interest on the 40 pct will be waived as long as the first tranche is met in full
india is searching for non communist countertrade partners to help it cut its trade deficit and conserve foreign exchange
management intends to include the charge and writedown in response to the preliminary findings
and this can now be achieved without forcing commercial banks into involuntary new money lending bankers in new york said given the booming market in debt equity swaps pins ought to work if manila issues the notes at an appropriate discount
moderate to heavy rains in southern jiangsu anhui eastern hebei hunan jiangxi fujian and zheziang reversed februarys below normal precipitation pattern
there was a fall of 290 mln stg in notes and coin in january a fall of 15 billion stg in non interest bearing sight deposits and a rise of 16 billion stg in interest bearing sight deposits the bank said
he also said that csr is sufficiently encouraged by future prospects and the opportunity to reposition the group in core businesses to foreshadow an increase in final dividend payable in july to 10 cents from nine to make an annual 19 cents against 18 in 1985 86
i see us poised at the threshold of a golden period said paul oreffice chairman of giant dow chemical co dow adding theres no major plant capacity being added around the world now
s p upgrades georgia pacific corps 11 billion dlrs of debt
meinert reiterated an earlier comment that earnings for the remainder of the year must double the 1986 level to meet that goal
the contract period runs from april one through july one the doe said
marion stewart an indepedent petroleum economist said slow growth in the economies of the us and oecd would keep demand for oil slack and he now estimates that demand to rise about 14 pct over 1986
chesebroughs footwear and tennis racket businesses are also likely to be disposed of he added
shr loss eight cts vs loss 20 cts net loss 586000 vs los 1497000 revs 138 mln vs 144 mln year shr loss 15 cts vs loss 18 cts net loss 1135000 vs loss 1377000 revs 577 mln vs 551 mln
sales proceeds 657 billion stg vs 881 billion duty and value added tax 184 billion vs 160 billion net proceeds 473 billion vs 721 billion net profit 757 mln vs 667 mln average capital employed 363 billion vs 371 billion capital and exploration expenditure 644 mln vs 618 mln cash surplus 423 mln vs 584 mln
the products are gynex 1 35e and gynex 05 35e
ecuador has trade surplus in first four months
mauritian sugar exports fall in february
ecuador was pumping about 260000 bpd before the earthquake
coffee accounts for about 95 pct of ugandas export earnings and last november president yoweri museveni ordered all coffee shipments to be carried by rail in order to avoid the higher costs of road haulage
on a year over year basis the index was down 08 pct little change from the 09 pct decline posted in january
sichuan is one of six provinces threatened by drought
indonesia has imported palm oil traders say
union secretary sam jennings said weve got two days of talks
lead manager is swiss bank corp international ltd heading a syndicate with co lead managers nmb hambros bank limited morgan guaranty limited and sg warburg securities
the cash tender offer was for up to 328 mln shares at 4675 dlrs net per share
in a communique issued after a four hour meeting at the us treasury that ended last night the ministers said the value of the dollar and other currencies was basically correct now and they welcomed new measures planned by the japanese to boost their economy
the company did not disclose earnings for the 1986 period before august 15 or prior year results
the company said the transaction is subject to approval by shareholders of valor and is expected to be completed within 40 days
new grades of petrol with lower lead content are sold in singapore from today in line with the ministry of environments regulations
it will also receive 25 mln dlrs from beneficial international insurance co another beneficial subsidiary being purchased by the management led group of first delaware the company said
it said the purchase will be financed with a combination of a new bank credit agreement and through private placement of senior subordinated notes and convertible preferred stock
but for debtors with substantial financing needs new lending will still be necessary he said
raycomm transworld industries inc said it has agreed in principle subject to board approvals to acquire spiridellis consulting group inc a privately held computer services consulting firm for a number of common shares to be determined based on pretax earnings of spiridellis over a five year period
cheetham last traded at 310 dlrs
the commission will draw up a new system of steel production quotas to protect vulnerable ec firms from the full rigors of open competition
us housing starts rose 44 pct in september
late yesterday the company said it has offered 707 dlrs per share for all gates learjet shares
rather than translate those into their own currencies and suffer exchange rate risk they buy dollar denominated instruments michael said
kawasaki steel issues novel 30 mln dlr eurobond
the bank of spain today did not provide assistance funds to banks in a move to drain excess liquidity from the money market
he was referring to perus policy of limiting payments on its 14 billion dlr debt to 10 pct of its export earnings
the agency added that it would continue to consider a separate twa request for federal clearance to purchase usair stock through a voting trust
it said the business will operate as ambrose video publishing
the agreement signed in january for the months from february to june is up for renegotiation
bank of japan governor satoshi sumita said the central bank has no intention of cutting its discount rate again as a way of preventing the yens rise
allied lyons plc sees rising profits from 51 pct owned liquor producer hiram walker gooderham and worts in the current fiscal year ending in early march 1988 chairman derrick holden brown said in a speech prepared for delivery to toronto analysts
so far this year the won has gone up by 08 pct against the dollar after a 334 pct revaluation in 1986
the most likely range will be a bottom for the dollar between 140 to 142 yen per dollar and a top near 150 to 152 yen horner said
it added that jacques stern bulls chairman and chief executive officer will serve as honeywell bulls chairman of the board while jerome meyer formerly executive vice president of honeywell information systems was named president and chief executive officer
the two ministers were speaking at a news conference after signing an agreement for joint oil exploration and exploitation of the jungle border zone between the two nations
the issue price will be 9818 pct and it will have a life of 12 years 259 days
fisher said 5300 had announced on april 20 that they would make a decision on june 1 about the move
paxar corp paks makes acquisition
the environmental protection agencys five to 10 mln dlr suit against a browning ferris industries inc bfi unit cecos international inc caused the stock to drop today analysts said
inros five day moving average was quoted at 2373 cents on october 16
average lives for two floating rate classes are 236 and 1127 years for maturities of 2011 and 2016
the net effect of the boards recent ruling was to reduce the companys rates by 159 mln dlrs moodys said
strong demand for us corn in japan usda
in a speech prepared for delivery as the united states made plans to protect 11 kuwaiti oil tankers from iranian attack reagan said the american people were aware that it is not our interests alone that are being protected saying that allied dependence on gulf oil was no secret reagan declared during the upcoming summit in venice we will be discussing the common security interests shared by the western democracies in the mideast gulf
the lending is in line with japans plan to contribute 20 billion dlrs over the next three years to developing countries
oconnors action came hours after a three judge panel of the 9th us circuit court of appeals in san francisco had blocked the merger until a dispute over union representation had been settled by arbitration
revenues were 37 mln dlrs
y includes imports
china trade deficit falls sharply reserves rise
mexico says it will sign 77 billion dlr commercial bank loan friday
this shows that the impact of energy prices on inflation is behind us in terms of the move from 15 dlrs to 18 dlrs per barrel said maria ramirez of drexel burnham lambert inc
european coffee traders and roasters may propose a new formula for calculating international coffee organization ico coffee quotas at the end of their meeting here this week traders and officials told 
total loans and advances extended by banks in singapore rose in january to 3601 billion singapore dlrs from 3579 billion in december but fell from 3693 billion a year ago the monetary authority of singapore said
ormand industries inc said its general can co inc unit has finalized all transactions needed to repay about 33 mln dlrs of past due accounts to its unsecured lenders
bennett said west germany britain the netherlands denmark and portugal oppose the tax but italy and belgium seem to have taken a hardline view on the issue
current year figures exclude gain from discontinued operations of 752000 dlrs or 48 cts per share vs loss of 452000 dlrs or 23 cts per share
shr 46 cts vs 76 cts div 30 cts vs 30 cts prior net 85 mln vs 140 mln note 1987 qtr net is after a 55 mln dlr reserve for a potential refund as a result of the federal communications commissions continuing rate investigation
the tax exemption has helped bolster ethanol production despite a sharp drop in the prices of competing crude oil
there is a consensus which we have to push further
harcourt brace jovanovich inc hbj 4th qtr net
if the icc ultimately decides not to reopen the case it is expected to reinstate the divestiture order
speaking at a house foreign agriculture subcommittee roberts said the us has offered eep to china and poland and should also include the soviet union
it said the distribution of about 20 pct of fishers common stock will be made april six to holders of record march 26
this experience will provide a foundation for the floating of other financial instruments in the near future through which the bank expects to mobilise even larger resources the report said
yesterday arco said the proposal had not yet been presented to its board
the restructured agreements call for suspending dividend payment on tidewaters common and convertible adjustable preferred stock and contain other restrictive covenants including a requirement to maintain minimum tangible net worth
the ec now guarantees oilseed prices to farmers above world market levels and is considering implementing a controversial oils and fats tax
previously the fed jan
1986 1st quarter amounts do not include rockport as reebok acuqired that company in october 1986
canadas bank rate rose marginally to 859 pct from 858 pct last week bank of canada said
robertson colman and stephens co managed the deal
in 1988 douglas said dean should experience a 20 pct improvement in our bottom line from effects of the tax reform act alone president howard dean said in fiscal 1988 the company will derive benefits of various dairy and frozen vegetable acquisitions from ryan milk to the larsen co
but when youre dealing in un alloyed ingot its a commodity business where there are a lot of tools available for hedging and alcoa is using all of those tools said al posti alcoas manager of corporate news
in bond portfolios the money managers generally showed a preference for shorter term 10 years and under treasury notes and to a lesser extent agency securities rather than longer dated treasury issues and corporate bonds
the group which is led by the wealthy bass brothers of fort worth texas did not identify any of the other people with whom it had talks
john danforth r mo urges the administration to take strong retaliatory measures if the tax is approved by the ec council of ministers
lone star lce to add five cement terminals
shr 102 dlrs vs 78 cts net 144 mln vs 110 mln note 1987 net includes gain 2222000 dlrs from termination of pension plan
general mining genmj cautions on 1987 profits
but he said the fed may well foster higher interest rates soon
in atlantic city resorts said in a statement that the class b shares being sold to trump represents 73 pct of the combined voting power in resorts
the payment date is april 3
the report dated april 7 said the reduction is based on an expected smaller harvest in the center south region
peninsular and oriental 1986 year
the kuwait central bank kept its window for funds to the domestic interbank deposit market shut as banks returned from a four day holiday dealers said
all claims to be settled under a uk soviet pact agreed last year in connection with pre revolutionary russian bonds and seized assets will be treated equally price waterhouse and co pw said
economist wendy smith cork of the brokerage nesbitt thomson bongard inc said it shows the economy is not moving along very steadily its not a very promising number we werent surprised we expected to see one bad quarter in canada but we dont think there will be a recession she added
venezuelas biggest private debtor faces default
egypt is also a linchpin in the broad framework of us middle east policy
in addition coopervision said operating income in its current fiscal quarter ending april 30 is expected to show an improvement over its prior fiscal quarters 825 mln dlrs and its year ago quarter
group profit after net financial items 139 billion crowns vs 132 billion sales 1522 billion crowns vs 1261 billion profit per share 2050 crowns vs 1960 proposed dividend five crowns vs 440
a third arbitrageur noted mark iv had been involved in several takeovers previously and has proven itself to be a determined bidder
that plan includes integrating five boat companies that outboard marine has bought since the middle of december
shr 31 cts vs 26 cts net 3516000 vs 2972000 revs 400 mln vs 363 mln avg shrs 114 mln vs 112 mln nine mths shr 89 cts vs 73 cts net 100 mln vs 8146000 revs 1168 mln vs 1050 mln avg shrs 113 mln vs 111 mln
china raises crop prices to increase output
automobile production although expected to fall this year is still on an upward trend and will continue to be so for the foreseeable future and in addition use of aluminium castings is gaining wider acceptance in the automobile industry particularly in the us in packaging shearson does not expect aluminium to dominate the beverage can market in any of the other major economies to the extent it does in the us but says there is evidence recycling is on the increase in other countries
another said the central bank seemed to be trying to push the dollar up above 150 yen
outside the house energy minister marcel masse said petro canada would be worth between three and four billion dlrs and because of the size could be difficult to sell
british airways plc babl is issuing a 100 mln stg eurobond due may 6 1997 paying 9 1 2 pct and priced at 101 1 2 lead manager union bank of switzerland said
the farm bureau also urged agriculture secretary richard lyng to adjust the loan rate for 1987 crop soybeans as much as he deems possible under the farm bill to keep soybeans competitive in the world market
us sells 3 mo bills at 547 pct stop 548 pct 6 mo 551 pct stop 551 pct
year 1986 shr 642p vs 14p div 16p making 235p vs 175p pretax profit 1804 mln stg vs 377 mln net after tax 1371 mln vs 349 mln minorities 105 mln vs 72 mln general premium income 199 billion stg vs 178 billion long term premium income 7045 mln vs 5766 mln general insurance underwritng loss 783 mln vs 1834 mln long term insurance profits 273 mln vs 209 mln investment and other income 2314 mln vs 2002 mln
telebyte technology inc tbti year
the bundesbank credited banks with a gross 152 billion marks but some 85 billion left the system at the same time as an earlier securities repurchase pact matured
the rise was also slightly below the 33 pct growth rate finance minister michael wilson predicted for 1986 in februarys budget
when announcing the negotiations with british and commonwealth last week klm said buying a minority stake in iml could involve a convertible loan issue
the partnership said it anticipates making a cash distribution of an as yet undetermined amount to unitholders at or before the liquidation trusts funding date
after an extraordinary expense associated with the december 1986 withdrawal of a planned common share offering we expect to be modestly profitable for the year but below the 410000 dlrs earned in fiscal 1986 the company said
peoples heritage bank said it has agreed to purchase northeast leasing co inc a portland maine lessor of office equipment for about 43000 common shares
shr 41 cts vs 17 cts net 8824000 vs 4555000 revs 3019 mln vs 1964 mln note housing backlog 135 mln dlrs up over 33 pct from a year earlier
the price of gold bullion is likely to rise in the second half of the year on increased private investor demand west german analysts said
shr profit 15 cts vs loss 40 cts net profit 1538000 vs loss 4088000 revs 706 mln vs 732 mln nine mths shr loss eight cts vs loss 57 cts net loss 832000 vs loss 5821000 revs 2170 mln vs 2484 mln note 1987 qtr and nine mths includes gain 265000 dlrs or three cts per share from utilization of tax loss carryforward
dnc unit issues 19 billion zero coupon yen bond
investor paul bilzerian said if pay n pak stores inc enters into a merger accord with him he will immediately begin a tender offer for 75 mln shares for 20 dlrs per share in cash
usda conduct a study of the findings of a national commission on agricultural export policy which recommended a reorganization of usdas trade policy apparatus
officials said the ec had asked gatt to arbitrate on the fish dispute with canada
american express has said the total employees of shearson will expand by 20 pct in 1987 internationally
mcchip mcsto to acquire reserve holding
newport electronics inc newe 4th qtr net
quebec issues 30 billion yen eurobond
treasury secretary james bakers assurances that us policy is to oppose these loans did not satisfy concerns raised at two senate committee hearings last week
officials have said the 100 pct tariffs on 300 mln dlrs of japanese exports could be modified if japan was found to be honoring a portion of its semiconductor pact
shore noted that according to the 1986 agreement revlon gets paid if there is any acquisition of gillette through november of this year at a price higher than 2975 dlrs per share
article 65 of the securities and exchange act japans version of the us glass steagall act separates commercial from investment banking
there will be no management fee for participants
the us agency also emphasised the favourable regulatory environment in which japans non life insurers operate
but us officials said recent market developments will not unravel the spirit of the paris agreement
perus consumer price index rose 59 pct in may to 157065 base 1979 compared to 66 pct in april and 33 pct in may 1986 the national statistics institute said
he declined comment on a reporters query whether he favored a stronger move against iran than that ordered by the president
puget sound power psd redeems mortgage bonds
duenas and four other military men who were assigned to the authority in 1978 will return to the ministry of defence where they worked prior to their appointments at the coconut agency
foreign bankers here said the pact gave manila the largest interest rate cut among major debtor nations
dealers said they were uncertain about the size of the intervention but some said it was only for a small amount
the german dealer saw the dollar gradually appreciating to 187 marks broadly seen as its upper limit within the louvre accords supposed currency target range
paradise fruit co inc parf year net
however he said it was always a little bit risky for a heavily indebted nation to seek refinancing without first negotiating with the international monetary fund on economic reforms
a working group comprising delegates from all producing and consuming member countries met briefly this morning then broke up into a producer meeting and an ec meeting followed by a consumer meeting
ionic a maker of circuit boards had revenues of 84 mln dlrs and pretax profits of 232000 dlrs in 1986 up from revenues of 59 mln and pretax profits of 204000 dlrs in 1985 circuit systems said
man will develop the locally listed soft drinks manufacturer into a securities and commodities brokerage arm and will rename the firm man pacific holdings ltd
in addition cascade said it was granted an option to purchase all the assets including the plant and equipment located in france
a bp spokesman said the fire was confined to one plant at the 700 acre refinery at grangemouth 25 miles west of edinburgh
bhp held its annual dividend unchanged at 375 cents after declaring a steady final dividend of 20 cents and announced a one for five bonus issue to shareholders registered may 1
lawson doubted that tokyos partners would indulge in japan bashing at the summit especially after the economic stimulation package and the announcement of nakasones plans to increase japanese development aid over the next three years
kenyan minister forecasts economic expansion
at the recent talks among the six major industrialised nations in paris japan promised to work out a comprehensive economic package to boost domestic demand which in turn would help increase its imports and reduce its trade surplus
the company said the note agreements were amended to reflect an easing of some financial covenants and an increase of interest to 135 pct from 130 pct until december 1990
but in doing so they havent pleased everyone
the volume of the issue is expected to be one billion marks
twa said all usair stock owned by it would be in a voting trust and voted in the same proportion as the vote of all other usair shareholders
the company also said it plans to redeem the debentures on june eight
the offer is worth 223 billion dlrs
he said the long term answer is to switch some of the financial resources now committed to agriculture to other more productive areas
in the annual report chairman robert reuss told shareholders telephone profits will continued to be limited by ceilings imposed by regulators as well as deregulation and structural changes within the industry that have slowed growth in the investment base for setting rates
there has been some change but its not across the board said one us spokesman
it said proceeds will be used for general corporate purposes which could include acquisitions business investments or debt repayment
shr four cts vs two cts net 240902 vs 106054 revs 3408481 vs 2566769
waste management has a 27 dlr per share tender offer for chemlawn underway that chemlawn has already rejected as inadequate
ecuadors consumer price inflation was 23 pct in 1986
a statistics office official added retail turnover had risen by 76 pct in december compared with the year ago month a slight upward revision from the 75 pct increase provisionally posted
however rep
modern techniques of cost control have been introduced markets expanded and outsized labour forces and inventories cut back
japan understands us attack on iran oil platform
the action reduces the guarantee line authorized for sales of protein meals to 127 mln dlrs and creates a rice credit guarantee line of 13 mln dlrs the department said
sumita told reporters major nations have cooperated to bring about currency stability in line with the paris agreement which stipulated that they would closely cooperate to that end
the official international business newspaper today published chinas demands in a editorial to coincide with the visit of us secretary of state george shultz
kentucky central life insurance co said the company said it will declare a 200 pct stock dividend on monday
the finance ministry said its auction yesterday of 1000 billion yen of tankoku six month debt financing paper produced a record low average yield of 3246 pct on aggressive bidding from securities houses
a spokesman for gaf was unavailable for comment
net includes pretax gains on sale of assets of 162000 dlrs vs 400000 dlrs in quarter and 877000 dlrs vs 1229000 dlrs in nine mths
trelleborg had previously announced it was exercising an option to acquire up to 65 pct of bolidens voting rights
both countries expect to conclude the talks by august 1987
the 285 mln dlr project is designed to financially rehabilitate the railway the primarily state owned ferrovia paulista sa and improve transport on the lines leading to the city of sao paulo and the port of santos
the bank of japan will sell 800 billion yen in deficit financing bills today through 51 day repurchase agreements maturing june 3 to help absorb a projected money market surplus money traders said
without intervention the collaspe of trailways is imminent said fred currey chairman and president of greyhound
our employees are asked to continue to return to work at 8am unless otherwise notified he said
analysts have said firm prices for steel should contribute to better results at the nations major steelmakers
rusnak has been apointed president succeeding charles miller who continues as chairman
if brazil does not resume payments 1987 net would be cut by 72 mln dlrs morgan added
the bonds are callable after seven years at 100 1 8 pct and it will be listed on the london stock exchange
japan intervening to keep dollar up brokers
chase amp bank ltd said it will lower its prime lending rate to 1775 pct from 1825 effective tomorrow
ortiz mena said it is in the interest of the creditors not only the debtors to push forward the development process in latin america and that has happened he added the only problem is the resources have not been enough turning to brazil whose growth rate he predicted will decline slightly this year from 1986 ortiz mena said the countrys moratorium was the right action in order to avert a long term default
tandy brands said the notes are convertible at 10 dlrs a share noting a previous announcement the price was negotiated when the companys common was trading at 775 dlrs a share
the governments own proposal for an across the board daily pay rise of six pesos for non agricultural workers and eight pesos for agriculture workers would push the full year average higher to 54 pct she told the senate last week
1985 quarter net includes 1480000 dlr tax credit
president reagan ordered the study last september citing a determination that the country never again become captive to a foreign oil cartel referring to the opec led oil shortages and sharp prices increases of the 1970s
the houston endowment is selling the paper to comply with federal tax laws requiring charitable institutions to divest themselves of profit making subsidiaries by 1989
the city of rotterdam today signed an agreement in principle to cooperate with the aomi cargo distribution centre in tokyo
the conference which began monday is widely seen as the final effort to adopt a new international natural rubber agreement inra before the current one expires in october
the finance ministry is trying to eliminate technical obstacles so as to encourage purchases of japanese treasury bills by foreign governments and central banks in order to increase overseas holdings of yen assets a senior finance ministry official said
utilities which were a positive influence in the overall 1986 trend should be a pocket of strength again this year
nomura securities co ltd nmsct and daiwa securities co ltd dsect japans two largest brokerage firms are seeking a niche in the us and european securities markets while the countrys huge banks are looking for strongholds in overseas banking the takeover specialists said
but even wednesday when fed funds were below six pct the dollar strong and oil on the soft side bond futures attracted eager sellers when contracts approached recent highs he said
congress also has been been angered by the administrations lack of success with japan on a host of other trade issues including beef citrus automobile parts telecommunications goods and financial services
venezuela has no plans to seek revised debt accord
in a compromise with coal producers the bill requires new baseload electric powerplants be designed to accomodate modifications necessary to burning coal or another alternate fuel
the banking association said the possibility of using monetary policy to stimulate the economy should not be overestimated
fire at tate lyle london jetty halts unloading
i dont think its going to undermine public confidence in the banking system from brazil alone he said
she stuck by the companys statement that more time was needed because the talks are complex
on the export side it said it saw weak demand in west germany affecting export prospects elsewhere in europe while japans exports in 1987 would remain flat and sales by us exporters would respond only marginally to a lower more competitively priced dollar
ryan said combined is testing a direct response long term care product through its union fidelity life insurance co and has plans to offer it through ryan insurance group
cavendish will buy the 3482 mln hongkong electric shares from hutchison by issuing 975 mln new shares
continental said it may take similar action on its loans to ecuador which total 25 mln dlrs
cathay 51 pct owned by swire pacific ltd swpchk made its earnings forecast in the prospectus for its flotation in may last year
the disclosure of the citicorp units interest in cyclops industrial group came in disclosure documents filed by dixons group with the securities and exchange commission
in treatment similar to that agreed in january for balance sheet assets the credit equivalent will be assigned one of five risk weights between zero and 100 pct depending on the quality of the counterparty the remaining maturity of the contract and on collaterals or guarantees to the contract the plans showed
ranger rgo completes us property sale
the second one billion franc variable rate tranche is led by banque indosuez credit lyonnais and ugp with indosuez as book runner
after nakasones statement the dollar rose to 14640 50 yen from an initial low of 14420 40 and new yorks friday finish of 14715 25
dollar opens at a record low for tokyo at 14580 yen dealers
a total of four of nine indicators available for february contributed to the increase in the index
york international yrk to make acquisitions
first quarter performance for the rest of time inc will be better than last year bigelow said
he said kotc made profits of more than two mln dinars seven mln dlrs in the fiscal year ending last june but predicted lower profits this year due to higher costs for chartering and operating vessels
production in the machine building sector a priority in moscows plans for economic renewal recovered slightly in february but was still 36 pct lower in the first two months of the year compared with the same period of 1986
earlier today sun co sun phillips petroleum p and diamond shamrock dia also said they raised their crude postings 50 cts a barrel bringing their wti contract price to 1750 dlrs a barrel
oil executives see gradual rise in prices
american farm bureau opposes farm bill changes
kellog said the project will enable the refinery to produce btx products benzene toluene and orthoxylene by processing naphtha feed from an expanded reformer hydrotreater
in response martin said he did not view ibm as a threat to dec nor dec as a threat to ibm because both companies were catering largely to existing customer bases rather than stealing market share from one another
but the group said it might buy more moore handley shares
however preliminary consultations with bank representatives had shown some of the initial proposals to be flawed it said
a wall street analyst said it was hard to determine what the equity in the newly leveraged company would be worth
in its world production and trade report the usda said sales of french corn for nearby delivery have been confirmed with an export subsidy of about 145 dlrs per tonne bringing the french price to about 72 dlrs per tonne fob
brooklyn unions bu unit to expand drilling
silas said the 1986 assets sales will not affect earnings for the company
malaysias debt serving ratio of 176 pct of its exports in 1986 is within the prudency limit of 20 pct bank negara governor jaafar hussein told reporters
burnup and sims inc bsim 3rd qtr jan 31 net
gulf applied gats sells units sees gain
pancanadian to sell north sea properties unit to whitehall for cash
shr loss 1529 dlrs vs loss 280 dlrs net loss 2213 mln vs loss 404 mln revs 1463 mln vs 2607 mln note 1986 loss includes extraordinary loss of 1716 mln dlrs or 1185 dlrs shr related to writedown of certain petrochemical assets and reduced by tax gain of 42 mln dlrs or 28 cts shr
american motors amo march output falls
that meeting was called to act on a merger agreement calling for a buyout by bcw acquisitions inc
others are more blunt
us monetary officials may refrain from making any comments this month to avoid influencing rates they said
sarlen and associates inc said it completed its private placement of 125 mln dlrs of five year eight pct senior subordinated notes with warrants to purchase common and 25 mln dlrs of 12 pct series a preferred with warrants to purchase common
borden inc called for redemption on march 23 of all its outstanding 8 1 2 pct sinking fund debentures due 2004
kidston says higher net reflects gold sale rise
non callable for five years the notes are rated b 1 by moodys and b plus by standard and poors
partnership cuts stake in erc international erc 
trade minister rha woong bae told the us chamber of commerce earlier this month a sudden won revaluation could result in south korea running a large trade deficit and being forced to renege on its international debt repayments
wedge stressed that it has no current plans to seek control of ami but refused to rule out a takeover try in the future
computer asscess makes bluefish full text search and retrieval software for international business machines corp ibm and compatible personal computers
these investors who must convert yen into sterling through dollars for british securities purchases appear to be buying in london rather than in tokyo a bond manager for a british securities house said
but when argentina announced export taxes for the 1987 88 year in july the differential was narrowed only one pct
ny traders say latin coffee producers to meet
pesch sees shareholder support in ami ami bid
in the past three years multifoods has substantially altered its domestic business mix by divesting its us consumere foods operations and emphasizing growth in selected segments of the us foodservice industry
the institutions implied senior debt rating is ccc plus
paper will be issued in denominations of 500000 dlrs and will have maturities between seven and 365 days
sourrouille told reporters that 915 pct of the 195 billion dlr loan which forms the core of the package has been subscribed
major holdings are likely to be held by the two largest creditor banks standard chartered bank stchl and oversea chinese banking corp ltd ocbmsi they added
hertz realty corp is issuing a 75 mln canadian dlr bond due april 30 1993 paying nine pct and priced at 100 3 4 pct syndicate sources said
earnings per share fell to 464 guilders from 548 in 1985 on turnover of 6278 mln down from 6626 mln
it said if all options are exercised the contract will be worth a total of 78 mln dlrs
britains highest court has decided the international tin council itc can appeal over the use of itc documents in court actions
crude oil gasoline and heating oil all posted gains on the new york mercantile exchange with crude oil prices matching life of contract highs
the press reports said this could be raised to 50 pct equal to the largest share of any japanese firm
the 12 year loan guaranteed by parent company suns enterprise ltd of japan is to be signed by mid april
farm bureau specialists went to ottawa and testified previous us farm programs have actually benefited all foreign producers by reducing the amount of corn grown in the us and losing market share while exerting an upward influence on the price of corn worldwide he said
president corazon aquino earlier this month established an arbitration panel to settle a row over the disposal of the shares
as of the present time the average interest rate on the financing which we proposed to raise in connection with the acquisition has increased since the original proposal by approximately 150 basis points he said the group intends to promptly review all available options including the revision of its offer to reflect current market conditions
this brings the banks total help today to some 134 billion stg and satisfies the estimated shortage in the system today which it had earlier estimated at 13 billion stg
together with expected progress in commercial bank discussions with argentina and we hope brazil this should add up to substantial new lending for the major latin debtors in 1987 baker wrote
the rise in total operating profits enabled bfg to step up risk provisions with country risks particularly emphasised because of the continuing difficulties of some countries
brymon plans to offer five flights a day from the london city airport to paris and three to amsterdam and brussels
it said as a result of the liquidation of its canadian subsidiary into the parent company it will be able to offset all of its corporate overhead expenses and some of its debenture interests against canadian income for tax purposes
he was asked about the companys fate on two occasions in meetings with leaders of the senate and house of representatives
this compares with two pct at the same stage last year three pct in 1985 and 38 to 39 pct in 1984
the total includes 35 billion francs worth of 13 week bills and 35 billion francs of 26 week bills
florida commercial banks inc flbk qtly div
i dont think we shall be looking at the brewery scene which is highly concentrated already he added
the european monetary system is not only a relationship between the guilder and the mark
growth in us revenues also improved the company said
firmer gas oil on the london futures and more bullish sentiment on the new york mercantile exchange futures market are supporting spot price levels they said
in january 1985 before the national bank ended the distinction between notes and bonds bond issues totalled 166 billion francs notes 139 billion and credits 5975 mln
the rating agency cited harcourt braces recent aggressive acquisition activity and increasing leverage
sarneys decision means brazilian importers of machinery and industrial equipment can buy dollar currency in the parallel market without having to wait for an official order from the banco do brasils foreign trade department cacex sarney also announced measures to boost exports in an effort to strengthen the countrys trade balance and alleviate the risk of a reduction of foreign loans for this sector of the economy
increasing reliance on the middle east will also boost the incentive to use natural gas and synthetic sources of petroleum he added
norway relies on oil for about 40 pct of its total export earnings and was hit hard by the collapse in the oil price during the first half of 1986
marc cohen of republic national bank of new york said the market now has the impetus to drive the dollar lower again the dollar hovered between 14550 and 147 yen in the days just before the talks
precipitation during the present campaign has been lowest in northern savannah regions where the cotton crop has especially benefitted from the dry weather fraternite matin said
no mention was made however of the us commitment to cut the budget deficit even though it is implied in the reafffirmation of paris
they are payable march 31
brazilian seafarers strike damages oil exports
the two companies have previously completed the drilling of gos iia 1 exploratory well around 14 kms south of gos ia 1
the bank of england said it had invited an early round of bill offers from the discount houses after forecasting a shortage of around 950 mln stg in the money market today
weizsaecker speaking at a reception held for him by president raul alfonsin at buenos aires city council hall also said no one could overlook the enormity of the obstacle posed by the foreign debt to countries like argentina
loan loss provision 138 mln vs 130 mln investment securitiesd gaons 2003000 dlrs vs 169000 dlrs
kingdom of sweden issues 100 mln stg bond
cie bancaire in one for five bonus share issue
we will react to market factors adequately
but she later said such a move depended on other ems countries scrapping residual capital controls
the pact will enter into force definitively when governments accounting for 80 pct of world exports and 80 pct of world imports have ratified it
uk sugar factory closes due to shortage of beet
shr four cts vs two cts net 406659 vs 210575 revs 6028263 vs 3654810 nine mths shr 11 cts vs seven cts net 1151988 vs 576358 revs 169 mln vs 9684002 avg shrs 109 mln vs 8632800
first boston and kidder have been advisers to gencorp in the past he said
a special meeting of the international coffee organization ico council failed to agree on how to set coffee export quotas ico delegates said
cal fed income cfi buys two shopping centers
qtly div 21 cts vs 16 1 4 cts prior pay april one record march 17
the company said the new stock is intended to enhance utilicorps ability to carry out future financings investments acquisitions or for other corporate purposes
alcan ups aluminium ingot and billet prices
shr loss 177 dlrs vs profit 15 cts net loss 8036000 vs profit 576000 sales 162 mln vs 172 mln avg shrs 4539437 vs 3816580 1st half shr loss 196 dlrs vs profit 26 cts net loss 8231000 vs profit 996000 sales 309 mln vs 322 mln avg shrs 4205707 vs 3814141 note current half net includes 68000 dlr tax credit
the federal governments holdings rose 700 mln marks to 51 billion
balances in tax and loan note accounts fell to 9828 billion dlrs from 11418 billion dlrs on the same respective days
the capital flow for loans and their servicing had changed from a negative balance of 250 mln dlrs in 1985 to a net inflow of 130 mln dlrs last year he added
hard winter 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 1009 1009 717 717 production 1018 1018 1230 1230 ttl supply x 2027 2027 1947 1947 domestic use 599 579 543 543 exports 450 475 395 395 total use 1049 1054 938 938 end stocks 978 973 1009 1009 note season begins june 1
sis corp said it has completed the acquisition of its franchisor sisters international inc from wendys international inc for 145 mln dlrs in stock
the cpi which oversees government spending said in its latest report to parliament that foreign currency reserves fell to a record low of 4079 mln kyats in september 1986 from 4303 mln in march 1986
he said the elimination of figure padding and other malpractices would save billions of roubles and would pay for the soviet unions social development program up to the year 2000
some 10000 pitmen in the northern province of leon entered the second day of an indefinite stoppage to demand wage rises and a five day working week the sources said
in addition a company controlled by sugarman raised 35 mln dlrs in a debt offering underwritten by drexel burnham lambert inc with help from jefferies and used a portion of the proceeds to buy tre stock
it said revenues for the period were about 119 mln dlrs about even with those of a year earlier
on december 31 1986 the company had 856014 telephones in operation representing 94 pct of all instruments in the country
some managers said they would prefer to abolish the system
juergen becker director of the bundesbanks division of banking law and credit supervision said the us british proposals were interesting but declined to elaborate
department spokesmen said the major cause for the revision downward in january sales was a weaker january auto dealer sales figure than originally estimated
swift independent packing co said it agreed in principle to sell its huron south dakota pork plant to huron dressed beef for undisclosed terms
s and p cited the adjournment of a special shareholder meeting in which hughes objected to certain conditions for the merger of the companies set by the us justice department
a further special session of the international tin council itc held here tomorrow march 24 will give member countries an update on the latest debate over the hundreds of millions of sterling lost when its buffer stock price support scheme failed in october 1985 delegates said
canadian imperial bank of commerce has committed up to 340 mln dlrs in senior debt financing it said
if we were to make a major acquisition it means we can move with a certain expediency sinclair said
coffee earnings were down to 110 mln dlrs against 295 mln in february 1986 because of lower prices he added
apex eventually fulfilled this obligation but claimed damages
diplomat electronics corp said it will reduce expenses by four mln dlrs a year in an effort to stem losses and return to a positive net worth
hertz said offering proceeds would be used for general corporate purposes and to reduce short term borrowings
sears total apparel sales was up only modestly but even a modest improvement in apparel is a very good accomplishment due to the fact that most people will buy apparel in april said cj lawrence analysts harry mortner
sources close to italys gruppo ferruzzi said european sugar france a french company owned by ferruzzi would take over control of cpc industrial division the corn wet milling business acquired by the italian group earlier this week from cpc international inc cpc the sources told that european sugar owned by ferruzzi subsidiary eridania zuccherifici nazionali spa erdimi planned to seek a listing on the paris bourse and make a share offering there
the utility said the agreement also resolves any issue relating to the prudence of the planning management and construction of palo verde and settles any possible issue of excess generating capacity through 1993
s and p said that after two years and many delays and disappointments the cable television industry has firmly established a net cash generating position
first financial ffmc acquires tel a data
sims said the bonus was 4244 dlrs per tonne and shipment was scheduled for june 20 30 1987
ghiirardi told the group considered japan one of the prime markets in which it intends to expand
under terms of the proposed transaction each pizza inn share can be exchanged for either three dlrs in cash plus the lesser of 14 shares of panteras common stock or 1150 dlrs market value of panteras stock or four dlrs in cash plus a unit consisting of one share of panteras stock and a non transferrable right to receive up to 055 share of panteras stock under certain conditions it said
madagascar extended its oil exploration agreement with the us firm amoco corp an for 17 months to allow for further studies of the morondava basin on the southwest coast a government statement said
washington is also angry over other ministry moves which it says have limited access for us firms to japans car telephone and satellite communications market
canada recently imposed a permanent duty of 85 cents per bushel on us corn imports
what were doing is lowering the price to get more bulk cargo flowing through here a spokesman for the new york shipping association said
you must address this problem on the exchange rate side but it cannot be solved on the exchange rate side alone
secretary of commerce malcolm baldrige expressed concern about the continuing us trade deficits with south korea and taiwan and said that without an adjustment in exchange rates there is little likelihood of improvement
charter also said a plan for liquidation of independent has been approved by the bankruptcy court and will be completed after march 31
final crop estimates for 1986 87 and planting intentions for 1987 88 are not yet available
banking sources said more than half of the 20 banks hold treasury bills although the need by others to take up paper could increase demand at weekly tenders and push down allotted yields slightly
a major palm oil dealer said he shipped malaysian palm oil to indonesia in february additional vessels were loading this month and other vessels had been earmarked for april
the increase in september housing starts was the largest since a 108 pct gain in starts in december 1986 commerce department officials said
while such approaches may have some political appeal they are impractical and ultimately counterproductive he said
uk base rates now running at 10 pct are still relatively high compared to other western countries and analysts said a further base rate cut to 9 1 2 pct was unlikely to affect sterling
a meeting of the national coffee policy council is set for thursday march 19 and dauster will almost certainly explain his plan to members then before announcing any new measures
it said malaysias international terms of trade will turn around to rise by two pct in 1987 after declining 12 pct in 1986 and five pct in 1985
the administration officials said commerce department monitors showed that japan was ending its dumping of the semiconductors in third countries where they had been taking sales away from american made semiconductors
the two for one stock split will increase fleets currently 257 mln outstanding shares to 515 shares
better operating results in each of the companys three sectors offset higher interest costs in the first quarter due to financing the december acquisition of sperry aerospace and the sharing of the federal systems subsidiary pre tax profit with honeywell bull inc honeywell said
sumita says he does not repeat not expect dollar to fall further
placements are not that negative especially since the technical correction in june and august live cattle futures since last week gh miller analyst jerry gidel said
to be eligible winter wheat farmers could not plant a different crop on that land this spring although they could use the land for grazing or to plant hay
pesch in an interview with said based on the conversations he held with shareholders he could not guage whether he had majority support
maxtor mxtr agrees to acquire us design
the yen could rise to 140 yen to the dollar a leading japanese businessman said
the venture will acquire the related inventories and the champlin trade name the company said
billiton seeks change in surinam policies
tennant co tanto 3rd qtr net
winn dixie stores inc win sets monthly payout
iomega corp announced it expected revenues for the first quarter of 1987 to be significantly lower than planned and that it anticipated a loss for the quarter
but the parent bank would have to give a formal undertaking to take over the exposure if problems were to occur and state in writing that the exposure was retained in the subsidiarys balance sheet to meet precise group objectives the paper said
general opinion among exporters was that brazil would plan to export between 17 and 18 mln bags this year of which between 15 and 20 mln would be to non members of the ico
commenting on the layoffs iomega said those from among the direct labor force affects personnel building the alpha eight inch disk drive and bernoulli boxes
his office said lawson had welcomed the outcome of a meeting between us treasury secretary james baker bundesbank president karl otto poehl and west german finance minister gerhard stoltenberg in frankfurt
chemlawn rose 1 7 8 to 36 in over the counter trading
such scrip issues if they occurred would mark the first time german banks had ever issued free shares
these measures should also foster greater stability of exchange rates around current levels he said
but he said investors looking ahead six to 12 months might want to buy at present levels for the tremendous fundamental values in the group
in addition avalon said three other directors resigned
strenger management board chairman of bayer ag baygf told a news conference at the hanover trade fair the main dangers were stagnation in world trade the lower dollar as well as crude oil and commodity prices
quartz engineering and materials qrtz 1st qtr
ausimont compo nv aus raises quarterly
several leading brokers have already announced plans to leave their firms and establish new private client businesses while others plan public floats
bp managing director says company does not plan to hike 70 dlrs standard offer
the new banking bill updating the 1979 banking act is the third leg of the conservative governments legislation for the supervision of financial institutions
theyve been on a rampage against foreigners the broker noted that two months ago venezuelas central bank quietly announced that banks doing foreign exchange business outside venezuela would have to respect a new 200 pct reserve requirement
some trade sources said recent speculation has been that last years soviet grain crop be revised to only 190 mln tonnes rather than the 210 mln announced therby increasing the soviet need for grain
eugene sherman chief economist of the federal home loan bank of new york said the lower sales level will be maintained for awhile until there is another change in rates
shr loss 46 cts vs loss 117 dlrs net loss 4990000 vs loss 128 mln revs 470 mln vs 423 mln year shr loss 308 dlrs vs loss 128 dlrs net loss 337 mln vs loss 133 mln revs 1328 mln vs 1325 mln avg shrs 109 mln vs 104 mln note includes losses of 501000 vs 83000 in qtr and 22 mln vs 83000 in year from equity of 50 pct owned companies
southwest airlines cos transtar airlines said it will add new flights and increase service to several cities including los angeles
the bond is guaranteed by the parent
final terms will be fixed on april 9
corrected federal paper fbt raises payout
traders noted that activity in the stock increased today after a published report linked pickens to tenneco
the following proposed securities offerings were filed recently with the securities and exchange commission angio medical corp initial public offering of 1666667 units each consisting of one share of common stock and one redeemable warrant to buy one share of common stock through kean securities co inc
fees are 1 1 4 pct for selling and 5 8 pct for management and underwriting combined
santa anita realty sar quarterly dividend
continental said the initial payout was subject to canadian government approval
cut were danas senior debentures industrial revenue bonds and medium term notes to a minus from a and commercial paper of dana and its unit dana credit corp to a 2 from a 1
the acquisition is subject to certain conditions such as satisfactory results of due diligence investigations the company said
usda accepts bid for bonus wheat to algeria
tender loving care also said norrell corp agreed not to acquire any additional staff builders shares until september 30 adding norrell was paid 750000 dlrs for the standstill arrangement
miyazawa said major nations are trying hard to stabilize exchange rates
marine midland mm may reclassify brazil loans
fees comprise 85 basis points for selling with 70 for management and underwriting
the company also said europharmaceutical is in talks to acquire either one or more publicly held companies with little or no assets
the iranian spokesman said the reports that iran intended to attack ships were misleading propaganda he said iraqs president saddam hussein was the main cause of tension in the gulf and said iran would continue to use all its legitimate means to stem the cause of tension weinberger said in a television interview in the us we are fully prepared to do whats necessary to keep the shipping going and keep the freedom of navigation available in that very vital waterway we arent going into any disclosures or discussions of what might happen but we are certainly very sympathetic to and listening carefully to any suggestions for our assistance in keeping navigation free in that area he said
ball corp said it completed the purchase of privately held verac inc a san diego defense systems and software development company
nazer in an interview with and the television news agency visnews said saudi arabia was producing around three mln barrels per day bpd of crude oil well below its opec quota
princeville development corp and aloha inc parent of aloha airlines inc jointly said they agreed to terms for the sale of princeville airways inc to aloha
he also refused to speculate on when an overall agreement might be reached
lending further support to the stable policy view was a relatively steady federal funds rate of about six pct in the latest week and persistently high levels of excess reserves in the banking system economists said
the package includes a 250 mln mark five year straight eurobond with a 5 3 8 pct coupon priced at par led by dg
if all the contingent shares are issued blue grass said former owners of equine will have a 75 pct interest in blue grass
barring last ditch obstacles which cant be totally ruled out in an issue involving a nations pride and substantial political and economic interests zaire and its creditors are bound to come to terms soon a western diplomat told 
the united states japan west germany france italy and britain are the major consumers
it was also possible the us would reimpose a 40 pct tariff on ec pasta lifted when the citrus row was settled
they were priced to yield 945 basis points over treasury securities of comparable maturity
deloitte haskins sells gets stake in company
malaysias external debts total 48 to 49 billion ringgit and its debt service ratio exceeds 20 pct the development bank of singapore ltd one of singapores four major local banks said in a report released this week
there has been no real two way business today neither has there been any new issues for diversion noted one trader
the agreement by the seven member association of tin producing countries atpc aimed to cut the world surplus and boost prices
channon also called for greater ec us cooperation to force japan to open its markets to foreign goods
finance minister kiichi miyazawa told parliaments lower house finance committee that the us is expected to intervene in the foreign exchange market to stabilise exchange rates political sources said
schlumberger slb may have alternate buyer
speaking to the new york chamber of commerce and industry yeutter said capital and trade flows are clearly inter releated now
ford f selects firm to automate plant
heymann expects ge to earn 139 dlrs per share in the first quarter of 1987
china faces extended sorghum shortage
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
the commission will propose to offer the sugar at a very nominal premium of 001 european currency unit ecu to the intervention price with detrimental consequences for producers returns czarnikow says
herrington says he may call for oil tax benefits
hapag orders new container ship from china
the asset sales and equity offering were part of a recapitalization plan undertaken by the chemicals company last year
we are making efforts to eliminate them with the help of balanced interest from all parties he said
colombia to maintain foreign borrowing levels
mcdonnell douglas corp md said it awarded a contract valued at 28 mln dlrs to a unit of grumman corp to develop flight control surfaces for the new us air force c 17 transport
it should not spill over to the overall market like ltv corps ltv bankruptcy filing did last summer said one analyst
much of the disposal strategy aimed at concentrating activities on core businesses had now been completed he noted
lotus development corp lotso 3rd qtr net
shr loss 22 cts vs profit 10 cts net loss 1056000 vs profit 427000 sales 5440000 vs 4982000 avg shrs 5229542 vs 4435691 year shr profit one ct vs profit 26 cts net profit 29000 vs profit 993000 sales 191 mln vs 168 mln avg shrs 4947632 vs 3780543
billiton and suralco owned by us conglomerate alcoa aas both want devaluation and lower wages welfare contributions taxes on bauxite and energy prices
prospects for continued economic growth through 1987 and into 1988 are still quite favorable he said
general electric ge to redeem rca corp notes
canadian foremost ltd earlier reporting lower 1986 net profit said negotiations are continuing concerning the previously announced sale of the companys 49 pct interest in macedon resources ltd if concluded the sale would be refelected in the companys 1987 results foremost said without elaborating
iranians manning the platform were warned in advance and allowed to escape
he said toshibas application would be considered by the office of telecommunications oftel an oftel spokeswoman said a decision on this application will take weeks maybe months asked whether toshibas bid would fall victim to british retaliation the oftel spokeswoman said who knows whats going to happen given the current situation a toshiba executive who asked not to be named told we do not anticipate any special problems some analysts queried by questioned the basis of britains strong stand on the cable and wireless bid
but a rare public row between the ebullient poehl president of the bundesbank and stoltenberg over a controversial investment tax proposal has added to the woes of the countrys already nervous financial markets bankers said
the majority producer group has proposed resuming quotas april 1 using the previous ad hoc method of carving up quota shares with a promise to try to negotiate basic quotas before september 30 delegates said
brown forman today reported a 37 pct increase in third quarter profits to 216 mln dlrs or 100 dlr a share on a seven pct increase in sales to a record 337 mln dlrs
net includes pretax unrealized loss provision recoveries related to marketable securities of 580000 dlrs vs 824000 dlrs in quarter and recovery 640000 dlrs vs provision 366000 dlrs in nine mths
magma copper co a subsidiary of newmont mining corp said it is cutting its copper cathode price by 075 cent to 66 cents a lb effective immediately
retail sales in the quarter ended december 31 fell a seasonally adjusted 132 pct compared with a 78 pct rise in the september quarter and a 13 pct fall a year ago period the statistics department said
the debt is covered by a standstill agreement that expires june 30
platte river authority sells taxable muni bonds
canadian officials in ottawa also said they have consistently tried to look at membership of commodity pacts on the merits of each case
tata iron and steel pre tax falls 37 pct
he added that while the company welcomes the expansion into new areas it is not currently involved in any acqusition talks
uk money market offered early assistance
he added that china also will need to import more corn this year than earlier anticipated but he gave no figures
qtly div 25 cts vs 25 cts prior qtr payable 10 june record 15 may
haq said the new policy effective from the fiscal year 1987 88 beginning on july 1 would be for three years but reviewed every year
it forecast end 1987 stocks at around 290000 tonnes
shr 18 cts vs 14 cts net 556036 vs 403945 sales 156 mln vs 136 mln avg shrs 3132555 vs 2934285 year shr 60 cts vs 48 cts net 1805229 vs 1400247 sales 601 mln vs 523 mln avg shrs 3012917 vs 2940219 note 1985 share data adjusted to reflect three for two stock split effective june 30 1986
the banks did not borrow in the first week of the period
the company said it foreclosed on the allied bank tower a 12 mln square feet office building at one fountain place dallas
but he said the gdp rise came as no surprise given the growth in exports disclosed in other statistics
the fed has confidence in the aggregates when theyre all sending the same signal
strike threat lower traffic mar seaway opening
canterra energy to drill well off nova scotia
speaking to the conservative heritage foundation heller said a broadly based commodity price index may be worth exploring as a guide to monetary policy
usda estimates 1986 soviet grain crop at 210 mln tonnes vs 210 in march 192 year ago
swearingen predicted an increase in operating profits for 1987 because he sees higher income and reduced expenses
meanwhile analysts noted the market ignored potentially harmful news on the trade front todays figures showing that the current account deficit in 1986 was 11 billion stg
the cross field allowance offsets up to 10 pct of qualifying spending on a new oil field against prt liability of other fields
if things go well from now on we should see heavy harvesting without a break from august through november or even december one said
shr loss 207 dlrs vs profit 36 cts net loss 1088000 vs profit 187000 year shr loss 1223 dlrs vs profit 17 cts net loss 645000 vs profit 89000 note home federal savings and loan association of the rockies
shr 22 cts vs 16 cts net 2460000 vs 1730000 sales 370 mln vs 273 mln note share adjusted for two for one stock split in february 1987
arco raises crude oil prices 50 cts barrel today wti to 1900
asked if japan was not living up to commitments made last month to trading partners he said recent figures showed japans economy grew by about 05 pct in the fourth quarter of 1986 not enough to sustain employment growth however sprinkel said japan had not reneged on its pledges and was moving toward more stimulative policies including tax reform
recent ico talks in london failed to break a deadlock over re introduction of export quotas suspended in february 1986 and no date has been set for a new meeting on the issue
pretax margins slipped to 125 pct in 1987 from 181 pct in 1986 it said
argentine meat exports during jan dec 1986 totalled 220911 tonnes against 223204 tonnes shipped in the same 1985 period the national meat board said
the refinery has an optimum annual production capacity of 100000 tonnes but its highest production was 96000 tonnes of refined zinc ingots in 1985 the spokesman said
burmas green revolution sparked by the introduction of high yield variety paddy strains in the mid 1970s appears to have hit a plateau with production levelling off over the past two years economists said
the payment date april 9 1987
southwestern bell sbc sees earnings dilution
resource said gas produced from the property will be transported through its existing pipeline
the more a consumer knows the more likely he will make an intelligent choice the us scientists said they had no doubt imported palm palm kernel and coconut oils contain high saturated fat levels
us bank discount window borrowings less extended credits averaged 228 mln dlrs in the week to wednesday march 18 the federal reserve said
the subsidies are obvious attempts to circumvent the zero duty binding and that makes us farmers mad as hell adams said
japanese traders said the new pact had a chance for success as most world producers and consumers had adopted it but they questioned the ability of some financially strapped producers to finance buffer stock operations
the firms boston based fmr corp and fidelity international ltd a bermuda based investment advisory firm said they bought the stake to acquire an equity interest in the company in pursuit of specified investment objectives the firms said they may increase or decrease their stake in the company but have no plans to seek control of the company or representation on its board
india buys 20000 tonnes of rapeseed oil
nippon life insurance cos 538 mln dlr purchase of a 13 pct stake in shearson lehman brothers inc brokerage unit is a shrewd move that other japanese insurers are likely to follow securities analysts said
law enforcement sources say two bronx congressmen mario biaggi and robert garcia are under investigation
last week a group formed by theodore cross offered to acquire harper and row for 34 dlrs per share
shr loss 44 cts vs loss 20 cts net loss 24 mln vs loss 880000 revs 24 mln vs 26 mln year shr loss 87 cts vs loss 11 cts net loss 43 mln vs loss 494000 revs 90 mln vs 120 mln note1986 includes restructuring charges of 21 mln dlrs and loss of foreign affiliates of 20 mln dlrs
ford which outstripped gm in earnings last year said its 1986 incentive bonuses totaled 167 mln dlrs slightly behind general motors 1691 mln
the repurchase window uses government bonds as an instrument with which commercial banks can borrow from or lend to the state bank
private exporters concluded advance weekly sales for 48062 tonnes against 22086 tonnes the previous week
it did say the offer for the companys stock will be conditioned also on the valid tender of securities representing at least a majority of the voting power for the election of directors of the company and the valid tender of at least two thirds of the outstanding cumulative preferred and convertible preferred shares
the commission is expected to approve the application at a meeting tomorrow
digital said the ruling involved a copyright infringement suit filed against softklone by microstuf inc which digital acquired in october 1986
shr 656p vs 5031p final div 6p making 8p vs 13p
sumitomo metal international finance plc in london is wholly owned
pdvsa to sign champlin refinery deal march 17
us trade representative clayton yeutter said the stock market overreacted to a us decision last week to proceed with tariffs on some japanese computer products
each granted the other an option to purchase authorized but unissued shares amounting to 2499 pct of the fully diluted shares outstanding
vontobel also noted that recent years had seen companies worried about takeovers increasingly issuing registered shares and participation certificates rather than bearer shares
sigma mines quebec ltd 4th qtr net
vw says 480 mln marks maximum for currency losses
bankers trust is the trustee for the debentures
moodys reduced to caa from ba 3 texaco capital nv s convertible subordinated eurodebentures
it said its offer was therefore subject to further discussions
westar mining ltd 4th qtr loss
edelman of drexel said that hudson had a tougher comparison because it had an exceptionally good 1986 most analysts agreed that promotions are slightly lower than last year
asked if central banks might act to prevent a sharp dollar rise as the us did in march when the dollar rose above 187 marks he said this would depend on the circumstances
growers had also called for the full 1987 forecast price of 2350 dlrs per tonne of cane to be paid in cash on delivery to the mill but this has been rejected by the state controlled fiji sugar corp ganilau said
the commercial banks have much to gain from taking the lead themselves to develop the kinds of ideas that help assure the concerted lending process works he said
details of nigerias official debts to france were not immediately available
the company said in a statement that parent company net profit last year will rise from the 72 billion lire reported in 1985
the bank will be listed on the nancy stock exchange in line with the finance ministry and governments aim of a regional operation geronimus said
transco energy co e sets quarterly
press representatives were not invited
shr 43 cts vs 36 cts net 7209000 vs 5574000 sales 777 mln vs 587 mln avg shrs 16676000 vs 15478000 year shr 112 dlrs vs 110 dlrs net 18371000 vs 17032000 sales 2575 mln vs 1983 mln avg shrs 16411000 vs 15433000 note year ago period ended feb 1 1986 full year earnings include gains from discontinued operations of 184000 dlrs or one ct a share vs 3143000 dlrs or 20 cts a share
the dollar opened at a record tokyo low of 14375 yen despite aggressive bank of japan intervention dealers said
analysts shrugged off as largely irrelevant a higher than expected increase in february sterling m3 which pushed the annual growth rate to almost 19 pct well above the previous target of 11 to 15 pct
uncertainty is growing about the vitality of the global economy and whether the heavily indebted countries can continue to carry the burden of their growing debt without vast new assistance
the seasonally adjusted february average of m 2 plus cds supply rose 08 pct from january it said
conti shares open higher on good new tyre reviews
qtly div 57 1 2 cts vs 54 1 2 cts prior qtr pay may 15 record may 1
he also said the first 250 mln dlr tranche of a one billion dlr loan from the japanese government to support steel oil and export promotion will be disbursed at the end of the month
bangladeshs trade gap to widen in 1987 88
a ministry spokesman said the wholesale price index base 1953 and excluding value added tax stood at 2509 in january
the acquisition of the additional 48 pct which a federal judge allowed to be completed gave campeau a majority stake in allied
the survey said monetary expansion was estimated to be nine pct to date but might rise to around 12 pct by the year end
the issue is guaranteed by denmark
union and new south wales government officials have reached a compromise in a dispute over workers compensation averting increased industrial action in the state union sources said
the officials took comfort from a decline in the volume of exports last month after an unexpected year on year increase in january
monoclonal antibodies mabs buys company
florida national fnbf downgraded by moodys
network video inc nvid 3rd qtr feb 28 net
he was unable to confirm the tonnages involved
on february 10 chrysler financial sold 200 mln dlrs of same rated seven year notes priced to yield 813 pct or 100 basis points over treasuries
provisional consolidated profits were lower at 185 mln francs compared with 200 mln in 1985 of which 120 mln against 147 mln was attributable to the group
irans top war spokesman ali akbar hashemi rafsanjani on tuesday called the us attacks on two of its gulf oil platforms an escalation and promised retaliation
there were some enquiries on the britannia from coin dealers today but value added tax would prove a major factor in the success of the coin with the 15 pct tax likely to put off many investors traders said
it said it now intends to work with its health care providers in alabama to further develop the hmo
it said the dollar is poised to resume its decline in foreign exchange markets and will lose a further 13 pct on its trade weighted index this year and five pct in 1988 after last years 184 pct drop
but sentiment now looks to have turned about again
an investor group led by members of the hunt family of dallas texas told the securities and exchange commission it has acquired a 62 pct stake in comdata network inc cdn and may try to influence company policy
january imports fell to a provisional 22886 billion francs from 24024 billion in december and 28165 billion a year earlier but exports were also lower at 21941 billion francs against 25556 billion and 25834 billion respectively
un conference formally adopts new international natural rubber agreement chairman
the company said annual capacity for production of kodel polyester staple fiber will be reduced to 400 mln pounds from 500 mln due to lesser demand
the drop was due to operating problems in the campos basin the countrys main producing area where output was down to 346011 bpd from 357420 a petrobras statement said
the february index was down one pct from a year earlier for the third consecutive year on year drop
more than 16000 engineering workers at 45 firms mainly in south germany held warning strikes lasting up to two hours yesterday
traders had also forecast todays total authorised sugar tonnage export awards to be between 60000 and 70000 tonnes versus 71000 last week when the restitution was 43248 ecus
but debt must be managed effectively or it hampers development he told newsweek
the us has said it will impose 300 mln dlrs of tariffs on imports of japanese electronics goods on april 17 in retaliation for japans alleged failure to stick to a pact not to sell semiconductors on world markets at below cost
payment date on the issue if april 15 1987 and the first coupon will be short
phillips sold its interests in the t block in the uk north sea and us reserves totaling about 13 billion dlrs in 1986 as part of a two billion dlrs asset sales program that is now completed silas said
glamis gold glgvf sets common stock split
anitec image antc files for debt offering
the issue which remains open until october 28 was fully underwritten last week when the issue price was set
gaf gaf studying borg warner bor plan
cpc said the sale is not expected to have a significant impact on its earnings and is subject to approval by boards of both companies
an additional 228000 tonnes of durum wheat are available to algeria under the departments export enhancement program sims said
if youre the fed theres no reason to do anything said steve slifer of lehman government securities inc
shr loss seven cts vs loss 64 cts net loss 367000 vs 3009000 revs 2516000 vs 8787000 avg shrs 4941000 vs 4714000 nine mths shr loss 73 cts vs loss 117 dlrs net loss 3545000 vs loss 4573000 revs 6788000 vs 133 mln avg shrs 4856000 vs 3908000 note prior year net includes tax credits of 63000 dlrs in quarter and 1395000 dlrs in nine mths
for six months the yield was 607 pct and the bids were at 580 pct
company sources also said that any negotiations with algeria would emphasize looser arrangements which would relate volumes to market requirements and prices to us spot market values
cambrian officials were not immediately available for further comment on todays statement
he also declined to say what sort of sum unilever hoped to realise from the operation beyond noting that chesebrough had paid around 125 billion dlrs for stauffer chemical co which operates outside unilevers core activities
jamesway corp said sales for the five weeks ended april four were up 15 pct to 541 mln dlrs from 471 mln dlrs a year before with same store sales up four pct
sdc sydney cost review may eliminate products
if the rumors are true it gives them a nice infusion of capital for an attractive price said lawrence eckenfelder analyst at prudential bache securities
us minerals said it has a 50 pct net profit royalty interest in the mine after payback of development costs
charles schwab and co is the nations largest discount brokerage firm
emery said it would operate purolator as a subsidiary if it succeeded in the takever but would integrate its air hub
the wheat for jordan includes 165000 tonnes of hard red winter and 35000 tonnes of soft red winter and is for delivery during the 1987 88 marketing year
belgian current account surplus widens in 1986
security pacific corp said it completed its previously announced acquisition of orbanco financial services corp after receiving federal approval of the deal
cnw corp said its subsidiary chicago and north western transportation co sold in a private placement 25 mln dlrs of consolidated mortgage 99 pct bonds series c due 1992
ranks hovis said that full acceptance of the increased offer would result in the issue of a maximum of 723 mln new ranks hovis shares or about 20 pct of the enlarged issued ordinary share capital of the company
net loss 1321000 vs loss 1397000 sales 311 mln vs 292 mln 1st half net loss 94000 vs loss 1745000 sales 630 mln vs 619 mln note company recently went private
world bank president barber conable linked increased borrowing by indonesia the third worlds sixth largest debtor to fresh measures to deregulate trade and dismantle protectionist barriers
fungicide may be used to curb the disease which also affects leaves of 30 other species of plants but experience has proven that it is uneconomical and expensive he added
industry sources told yesterday that fundamental was close to acquiring the government securities brokerage division of mki a major broker of corporate bonds
petrolite corp plit sets payout
the company said the office of public counsel could find no evidence that the acquisition would substantially lessen competition in any market
illustrating the point the official said a south korean firm recently agreed to sell a drilling platform worth 40 mln dlrs to the state run oil and natural gas commission
desoto inc dso regular dividend set
gencorp said agreement to sell rko pictures terminated
the company also said it plans to offer convertible subordinated debentures publicly
the newest and smallest of the joint ventures united saudi commercial bank uscb reported a 1986 net loss of 159 mln riyals marginally less than 1985s shortfall of 170 mln
eib plans 300 mln guilder bond issue due 1995
countertrade accounted for just five pct of indias 2565 billion dlrs in trade during fiscal 1985 86 ended march against almost nothing in 1984 85 official figures show
a miti official said the ministry has conducted a survey of foreign exchange trading by trade houses and exporters
the uaw wont be able to hold them up for ransom as they have amc because during a down year chrysler will have underutilized facilities to transfer production he said
the us said iranians used the platforms for military pruposes and had fired on an american helicopter from the rigs earlier this month
net includes tax credits 5738000 dlrs vs 494000 dlrs in quarter and credit 4194000 dlrs vs provision 112 mln dlrs in nine mths
pirelli uk int finance issues 50 mln stg eurobond
us official to visit japan as trade row grows
proceeds will be used together with funds from the companys operations to redeem southern naturals 15 pct sinking fund debentures of 1991
poehl welcomed the so called louvre accord of monetary officials of major industrialized countries saying the importance of the february 22 agreement to stabilize exchange rates had been underestimated
exports fell 64 pct to 72 billion marks in 1986 and competition from us and british firms increased
fundamentally the market situation is bullish and the official price will be 20 dlrs in january a japanese refiner said
scottish and york holdings ltd year loss
the report said the abolition of the five pct cpo export tax the devaluation of the rupiah in september 1986 and higher international palm oil prices should lead to a modest increase in exports this year
the senate voted 67 28 to stop a filibuster and limit debate to 30 hours on a bipartisan measure that requires reagan to report to congress on gulf policy within 60 days and calls for a resolution to be passed in the house and senate on the situation in the volatile waterway 30 days later
canada rules us corn injuring canadian farmers upholds duty
gros himself said pushing the problem away for 90 days at a time is not very useful
president of the brazilian coffee institute ibc jorio dauster told after the contact group meeting there had been no agreement on quotas as consumers had tried to dictate market shares rather than negotiate them
a council meeting of the international natural rubber organization inro has been adjourned until thursday as tomorrow is a malaysian national holiday officials of the organisation said
the official who declined to be identified told sandoz had made a substantial addition to reserves to cope with the consequences of the accident at schweizerhalle which caused severe pollution of the rhine
the new bond is due march 5 1992
mti quoted a government spokesman saying last decembers wage freeze decree would expire on april 1 as envisaged
canadas state run export development corp said it arranged a 15 billion yen offering of 4 1 2 pct notes due aug 28 1992 its first euro yen offering
imperials chemical business earned 17 mln dlrs in 1986 compared to three mln dlrs in 1985
the department of transportation said it will allow usair group to acquire up to 51 pct of piedmont aviation pie voting stocks pending final approval of the proposed merger of the two airlines
delegates said there seems to be optimism about settling another issue that of the floor price
peat marwick and kmg main hurdman said their merger will be completed tomorrow
asahan reported total losses of 976 billion rupiah between 1982 and 1985
baltimore gas and electric co said it filed a registration with the securities and exchange commission to sell 100 mln dlrs of unsecured debt
the companys expect to file a plan by the end of may
we all hoped the manager would move into the market to buy up to 75000 tonnes in a fairly short period and then simply step back he added
coca cola bottling coke files to offer notes
he said the company does not break out operating earnings by unit on a quarterly basis
canadian money supply falls in week
this is a clear indication that we are entering a difficult phase as regards our external debts and it is imperative that we raise the rate of domestic savings and rely less on foreign sources to finance our development he said
the paris based intergovernmental council of copper exporting countries cipec is closely studying the current backwardation in world copper market prices but does not envisage taking corrective action at present cipec sources here said
gencorp gy unit to sell los angeles tv station
no replanting programme has been successful said almy hafild from the indonesian network for forest conservation
terms will be fixed on april 2 with payment due april 22
oilseeds in the northwest region were about 80 pct emerged in many areas with other regions 50 to 70 pct emerged
heineken nv heinas 1986 year
love said he believed the real estate loan problems for texas commerce and other major state banks would peak by the third or fourth quarter of 1987
they all have different opinions
volckers expertise will be all the more sorely missed because international monetary fund managing director michel camdessus is new to his job and barber conable is finding it hard to make a mark as world bank president bankers said
gaviria said the decline in coffee prices could mean a loss of 15 billion dlrs in revenues for 1987
the public prosecutors and police here arrested five former senior executives of a bankrupt gold deposit business group for defrauding about 450 clients of about 15 billion yen for gold bars which were never delivered police said
shr 12 cts vs 12 cts net 337000 vs 235000 revs 3350000 vs 1642000 avg shrs 2935734 vs 2000000 year shr 69 cts vs 56 cts net 1815000 vs 1112000 revs 121 mln vs 7709000 avg shrs 2648257 vs 2000000
eastman kodak co is issuing a 200 mln australian dlr zero coupon bond due may 12 1992 and priced at 54 3 8 for an effecitve yield of 1352 pct said merrill lynch capital markets as lead manager
the us agriculture department said private us exporters reported sales of 350000 tonnes of corn for delivery to unknown destinations during the 1986 87 marketing season
traders also said that rogers reiterated a recommendation of international paper another forest products company that scored large gains in january as the dollar floundered
jacobs sold his stake after borg warner after the company failed to respond to his mid february offer for a negotiated agreement at a minimum price of 44 dlrs a share
this action is required as we bring our finished goods inventory and inventory in our distribution channels down to acceptable levels it explained
the proposal will give the banks a choice of 5 8ths or the alternative ongpin said
on the local market the metal traded in a narrow range of 3800 and 3805 hk dlrs a tael against yesterdays 3778 close
development corp of america whose board approved the acquisition last november for 90 mln dlrs said the merger was effective today and its stock now represents the right to receive 15 dlrs a share
zccm officials are still cautious over what effects the break with the imf will have on the industrys plans
world grain trade recovery may be underway
it had closed there on friday at 17975 85 marks
malaysia indonesia and thailand account for 90 pct of world rubber exports and singapore is a major regional rubber trading centre
major video corp majvo year april 30 net
the bank of england is both worried about the political problem of cutting rates during an election campaign and has signalled some worry about broad money growth said robin marshall chief uk economist at chase manhattan securities
virateck inc vira 1st qtr feb 28 oper loss
oper shr 102 dlrs vs 82 cts oper net 174 mln vs 149 mln revs 27 billion vs 24 billion nine mths oper shr 254 dlrs vs 264 dlrs oper net 438 mln vs 492 mln revs 82 billion vs 74 billion note 1987 3rd qtr and nine mths includes after tax 82 mln dlr or 49 cts a share gain for increase in equity of union texas petroleum holdings inc for initial public offering
the increase was due almost entirely to a sharp rise in the goods trade surplus to 1261 billion francs from 204 billion
current money market rates are at 5 3 4 to 6 1 4 pct for call money against 5 1 4 to 5 3 8 a week ago and between 5 5 16 and 5 9 16 pct against 5 1 4 to 5 1 2 for one to 12 month periods dealers said
shr seven cts vs 20 cts net 184000 vs 387000 revs 9100000 vs 6700000 year shr 13 cts vs 33 cts net 315000 vs 627000 revs 324 mln vs 246 mln
negotiations between the union and employers which are due to resume early next week are currently stalemated with the union refusing to accept sweeping changes in working hours and practices in return for a 15 pct pay increase
ltv also said it agreed to reopen its offer contained in the tentative agreement reached with the unions negotiating committee as part of a plan to resolve problems through local discussions
federal paper board fbo to sell preferred
this was partly due to west germanys inability to uncouple itself from us interest rate trends but also reflected concern among monetary conservatives in the bundesbank central bank council about excessive monetary growth which raised fears of domestically produced inflation bank economists said
we had a buy on it below 20 but when it gets to 28 let somebody else have it he said
magellan corp sets merger with balzac
im convinced itll be the last one in this form one banker said
crushings in 1985 86 at 1053 vs 1053 last month
national healthcare said it expects no material gain on loss on the sales and that substantially all proceeds will be used to reduce debt
the annual shareholder meeting will be held in london on april 29
ameron amn adopts shareholder rights plan
gros said the decision which he called a standstill arrangement will be communicated to brazils 700 bank creditors by telex tomorrow
he noted the final results for the fourth quarter will depend on the allocation of increased costs between the second and fourth quarters
it seems these shells arose from an exchange of fire between iran and iraq no one was wounded and there were no losses diplomats said shells from the nearby iran iraq warfront had in the past fallen in the northern kuwaiti desert
converting current refinery operations to produce the 89 octane unleaded gsoline could cost hundreds of millions of dollars per refinery but that depends on the present capacity and intensity of the refinery said amocos collier
clayton and dubilier inc and senior management of a unit of borg warner corp bor said it will form a new company to buy borg warners industrial products group for about 240 mln dlrs
dai nippon printing co ltd dprit said it will issue three convertible yen bonds on domestic markets
champion cha to expand alberta mill
moodys may downgrade british petroleum and standard oil
dixons then extended the offer until yesterday and earlier today indicated that a substantial number of tendered cyclops shares had been withdrawn leaving it with only 852000 shares or just over 20 pct of the roughly 426 mln cyclops shares outstanding
correction shaws supermarkets earnings in item headlined shaws supermarkets inc shaw year jan 3 please read per share earnings 133 drs vs 123 dlrs correcting order of results
until now foreign investor interest in the gilt market has been one of the major reasons behind the rise in sterling
franklin california sets monthly payout
proceeds will be used for general corporate purposes including the financing of new construction and refunding of cumulative preferred stock
northeast utilities nu year
the five institutes had jointly forecast three pct 1987 growth in october last year
bouygues bouypa tv award seen boosting group
several bahrain banks had been lending in the fixed periods and borrowing in the short dates but today they found the day to day money in short supply dealers said
the large drop in foreign reserves was in the middle east and africa where they fell to about 93 mln barrels from 3167 mln reflecting the exclusion of libya
sight deposits of commercial banks at the swiss national bank rose 7437 mln swiss francs in the second 10 days of march to 840 billion the national bank said
the foreign exchange market has been told by baker that hes going to hammer germany he has just declared all bets are off in terms of currency cooperation chris johns currency analyst at ubs phillips and drew in london said
volcker says restrictive monetary policy would hurt investment
excluding defense orders rose 38 pct compared with a revised january decline of 77 pct
us crude oil and gas liquids production last year fell to an average of 33290 barrels per day from 34102 barrels per day in 1985
non callable for two years the issue is rated b plus by standard and poors corp
it cautioned that exposures to uk local authorities and those guaranteed by the british export credit guarantee department would probably not qualify for such treatment
navistar nav still expects higher 1987 net
citibank said in its filing with the sec that it was premature to decide now whether the loans should be placed on a non perfoming basis a view that was echoed by spokesmen of several other major us banks
shr loss five cts vs profit 36 cts net loss 784000 vs profit 4793000 revs 90 mln vs 79 mln year shr profit 27 cts vs profit 65 cts net profit 4010000 vs profit 8539000 revs 273 mln vs 214 mln
gorman
chemical industry production which fell by 09 pct last year was likely to stagnate or decline by one pct in 1987
remaining shareholders would have until later this month to sell their shares to stora the company said in a statement
wavehill international to make acquisition
dennison manufacturing co said it has signed a letter of intent to sell its dunn paper co subsidiary to james river corp jr for an undisclosed amount of cash resulting in a first quarter charge against earnings
ball corp bll completes acquisition of verac
iran selling discounted crude japan traders say
the joint report said that the estimates of economic development made by the diw and ifo were markedly less favourable than those of the other three
the perception of japan in the us congress is very bad one official told 
the deal is scheduled to close by the end of june the company said
redstone said exclusive contracts with pay television networks are the emerging trend
american express axp viewing shearson options
the initial reaction among dealers was to mark prices around 1 8 point easier
ny dealers believe fed intervened to buy dlrs
uganda which earns about 400 mln dlrs annually from coffee exports over 95 pct of its foreign exchange earnings had sought to raise its ico quota to 30 mln from 245 mln 60 kilo bags according to sources close to the cmb
usda said moscow already has purchased over 25 mln tonnes grain for delivery in 1986 87 including 14 mln tonnes wheat and 12 mln tonnes coarse grain
the decrease brings marathons posted price for both west texas intermediate and west texas sour to 1650 dlrs a bbl
gecc issues 75 mln australian dlr eurobond
us weekly soybean crush 21782929 bushels
the company said its board recommended that shareholders approve the merger of the oilfield service companies
but guillaumes warning that he would reject reorganisation of the ec cereal and sugar markets france being a major producer of both crops won him warm applause from the fnseas farmers
early this month dart made an unsolicited offer of 4175 dlrs a share in cash for supermarkets generals stock
however it added in a statement that the company made major capital gains on sales during the year in particular from the sale of genstar shares
he said they would have to get convertible currency and open their books and the soviets dont usually do that
the business bulletin newspaper said the firm had assets totalling 122 billion pesos while dbp and pnb exposures with the firm were estimated at 149 billion pesos
opec may be forced to meet before a scheduled june session to readdress its production cutting agreement if the organization wants to halt the current slide in oil prices oil industry analysts said
first american financial corp said its board declared a special dividend of 20 cts per share and the regular 25 ct quarterly dividend both payable april 15 to holders of record march 31
durakon drkno to make acquisition
house and senate democrats who control congress have been critical of reagans plan but have not decided how or if they should try to pass legislation to prohibit it
marathon raises crude oil postings 50 cts bbl wti now 1900 dlrs
pay date is april 7
qtly dividend six cts vs six cts pay april 15 record march 31
harcourt made a 50 dlrs a share unsolicited bid on march 11
it wants 70 pct over 12 months
both us and japanese officials have said there was little likelihood the talks would do anything to avert the 100 pct duties on 300 mln dlrs worth of japanese shipments
sprinkel urges greater growth in japan europe
the traders said they expect very low deliveries of temporao beans in the first three months of the harvest and the bulk will not appear until the last month september
cenergy reported a net loss of 727 mln dlrs in the nine months to september 30 1986 while total stockholders equity on the same date was 4072 mln dlrs
in 1986 the company lost 14 cts a share
a senior official of drexel burnham lambert inc and his father told the securities and exchange commission they have acquired 258591 shares of epsilon data management inc or 94 pct of the total outstanding
us personal income rose 02 pct in may spending up 01 pct
investor david f
oesterreichische laenderbank ag olbvvi 1986
in a filing with the securities and exchange commission mark iv corrected a statement it made yesterday in another sec filing in which it listed several agreements reached with baird including that baird would not take any anti takeover steps without providing at least 24 hours notice
nakasone sounds conciliatory note in chip dispute
on friday the fed added reserves indirectly and in small amounts via one billion dlrs of customer repurchase agreements with the federal funds rate at which banks lend to one another high at 6 5 16 pct
james crivits consul chairman said debt service on the outstanding debentures has cost the company 55 cts a share per quarter and cut deeply into the companys profitability
nzi corp unit sells guaranteed notes at 836 pct
brazil has so far been unwilling to accept any proposal that would reduce its quota share delegates said
the issue is rated a top flight aaa by standard and poors corp
officials said there are already signs of that
latest federal reserve data suggest that the central bank voted to maintain the existing degree of pressure on banking reserves at its regular policy making meeting two weeks ago money market economists said
unless these are modified there are fears it would promote purchases of quality cocoas such as ghana origin which are normally required by manufacturers they said
banque paribas which arranged a 220 mln dlr loan for ecuador last year to pre finance oil exports wants to adjust the terms of the facility to help the country recover from a devastating earthquake bankers said
earnings per share reflects two for one common stock split on march 15
shr 39 cts vs 32 cts net 2524000 vs 204600 sales 285 mln vs 235 mln nine mths shr 101 dlrs vs 109 dlrs net 6323000 vs 6990000 sales 806 mln vs 688 mln note current qtr and nine mth net include 447000 dlr gain on asset sales
moodys investors service inc said it upgraded to aaa from aa 1 the insurance rating of general electric mortgage insurance co of ohio a unit of general electric co
kentucky central life insurance co said it declared a semi annual dividend of 55 cts per share payable march 31 to shareholders or record march 19
ccc accepts export bonus for cattle to egypt
external pressures are rising as the us and europe seek removal of tariffs and quotas to help reduce their trade deficits with japan
ec farm ministers will have a first discussion of the proposals at a meeting beginning next monday
brazil adjust cruzado down against dollar new rate 22840 22945 previous 22690 22803 effective wednesday april 8
but departure remains uncertain because of the continuing parliamentary boycott by opposition parties protesting plans for a new sales tax
ghana to buy crude oil from iran
last months unemployment rate was down from the 72 pct level in march 1986
we think there are signals that current conditions are more favorable than they have been for sometime simon said
the refinery started up in 1967 and has an annual capacity of 47 mln tonnes
the warrants are publicly traded on the new york stock exchange
it does not even figure in the countrys foreign trade policy
i think if he were to do it again he would do it very differently said one source
it said more than half of the quarters downgrades were in the industrial sector affecting 25 billion dlrs of debt
commercial and industrial loans on the books of the 10 major new york banks excluding acceptances fell 131 billion dlrs to 6270 billion in the week ended april 1 the federal reserve bank of new york said
at the end of 1986 audis workforce stood at a record 39800 a rise of 3400 over 1985
the cost of transport is higher than the value of the animal he said
smg acquisition corp a subsidiary of merrill lynch capital partners inc said 383 mln shares of supermarkets general corp were validly tendered by the midnight friday expiration resulting in a preliminary proration factor of 8566 pct
a statement yesterday by secretary of state george shultz after he met with wheat growers that us agricultural products must be competitively priced was significant in that he recognized the importance of the soviet market and the need for us prices to be at world market levels us grain trade industry officials said
repayment starts in 1989 and is in 20 semi annual instalments
borden to acquire prince co for about 180 mln dlrs
royal bank of canada lowers prime rate to 8 3 4 pct down 1 2
they said sudan will export corn sesame peanuts spices and cow hides while jordan will export cement tomato puree chemicals and pharmaceuticals
i think the stock market has decided that the bank lending figure is a thing of the past we are talking about a very serious panic and a flight to quality spencer said
the rate on the shorter term floater will be reset quarterly at 55 basis points over three month libor while the rate on the longer tranche will be reset at three month libor plus 65 basis points
based on conagras closing price of 34 dlrs today the transaction is worth about 3565 mln dlrs
chicago physician leroy pesch said he has had discussions with several american medical international inc shareholders and sees support for a restructuring of the company
unfortunately successful adjustment to australias deep seated economic problems remains a long term process it said
this compares with the banks revised estimate of a 750 mln stg shortfall
shr 441 dlrs vs seven cts qtly div 10 cts vs 10 cts in prior qtr net 2955000 vs 75000 sales 727 mln vs 700 mln note net includes pre tax gain of 78130000 dlrs from termination of retirement plan for salaried employees and 875000 dlrs charge for reorganization costs dividend payable november 17 to holders of record november two
in my view its not a matter of if but when the price for copper will improve because there arent that many new projects coming on and demand short of a major recession will continue to grow modestly said executive vice president douglas yearley
koizumi said the ldp plan will not specify the size of the tax cut or the amount of domestic demand to be stimulated
us m 1 money supply rises 19 billion dlrs
corn export inspection guesses ranged from 400 to 440 mln bushels for the week ended april 9 compared up 466 mln inspected a week earlier and 152 mln in the year ago week
but as long as brazil sticks to its hardline position we can never bridge the gap dharyono said
gulf said the governments charges relate to discharging materials without a permit not to environmental damage resulting from the action
at the end of last year the government abolished price controls that had existed for 42 years on services such as car repairs and hairdressing freeing from state intervention small businesses which account for some 60 pct of the french economy
he said that the company expected net pricing to be higher and unit volume to improve in the remaining quarters of the fiscal year
aluminum co of america aa regular dividend
prime gave no reason for the termination of the talks with national hmo
national westminster bank usa 1st qtr net rises
pitt des moines inc pdm to acquire steel unit
reagan administration officials have been saying that the impact is now beginning to show up although it has been much slower than expected
shr loss 32 cts vs loss seven cts net loss 1566000 vs loss 292000 revs 394 mln vs 347 mln year shr profit 79 cts vs profit 74 cts net profit 3651000 vs profit 3020000 revs 1479 mln vs 1142 mln avg shrs 4639000 vs 4059000 note per shr adjusted for 3 for 2 stock split july 1986 and 2 for 1 split may 1985
an additional 8500 tonnes of frozen poultry remain available to egypt under the export enhancement program initiative announced dec 19 1986 and feb 27 1987 the department said
restaurant associates industries inc said it expects to record a pretax gain of 33 mln dlrs in the first quarter from the sale and lease of real estate
its businesses include standard and custom engineered centrifugal pumps and mechanical seals for the petroleum industry and advanced controls for the aerospace and defense industries
the amended suit filed by eduardo de los angeles is part of a continuing attempt by certain elements in complete disregard of the facts and with questionable motives to delay an early disposition of the sequestered shares san miguel corp said in a statement
us soybean marketing loan not needed lyng
sales of durable goods rose in february by 88 pct to 4672 billion dlrs after dropping by 177 pct in january
three equity linked dollar denominated deals were offered the largest of which was a 200 mln dlr offering by sekisui chemical co and guaranteed by sanwa bank ltd
the loan which has a may 1 coupon and paydate will go towards the governments financing of an estimated 1987 borrowing requirement of about 42 billion guilders
a ministry of foreign economic relations and trade official said this years outlook for exports which account for more than 75 pct of foreign exchange earnings is much healthier than a year ago
frank b
the following rainfall was recorded in the areas over the past 24 hours parana state umuarama nil paranavai nil londrina nil maringa nil
taiwan buys 60000 tonnes of us maize
it has been the intent to set the dividend at a level so that it could be sustained through the ups and downs of the business cycle olson told a meeting of securities analysts
however other producers said they were not aware of this move toward producer solidarity
sunflower maize and sorghum harvests were particularly affected they said
laser lser sees impact from suit on earnings
it said as part of its restructuring it may sell some of its assets this year with unitholders receiving either cash from the sale or stock in the acquiring company
weve no plan to bid blair told reporters after a speech to a business group although he stressed that nova and 57 pct owned husky oil ltd hyo were interested in domes extensive western canadian energy holdings
scotts hospitality acquires capital food
the soviets want a higher subsidy offer this time the state department source said
ply gem industries inc pgi 3rd qtr net
it is not always easy to meet the basic requirement that the trade should always be balanced one trade source said
qtly div 21 cts vs 21 cts prior pay june 10 record may eight
rospatch rpch to respond to diagnostic drs 
the office said output of the investment goods industries rose 01 pct while consumer goods output increased 06 pct
argyll energy corp year loss
the world banks policies prevent it from lending money for the transfer of land from landowners to the landless but it can help finance development of the philippines proposed land reform program a bank official said
bra kanon is chairman of the icco council and rumours that he or ivorian delegates might be delayed because of public mourning in the west african nation helped depress already low world cocoa prices friday
last month lear siegler said it planned to sell its smith and wesson handgun business starcraft recreational products ltd the peerless truck trailer operations and other units as part of its restructuring plans
discussed on and off for a long time the commodity concept is part of a growing search for a system that anchors monetary policy and widely fluxtuating currency prices to a more solid base
rigaud blamed the mills problems on an order by duvalier two years ago forbidding hasco from refining sugar
payment date is expected to be april 22
the diversified chemical and industrial company said the sale completes its program to divest retail operations
japan to sell 200 billion yen in bills traders
but the government official said the surplus would be held at around five billion dlrs to avoid further pressure by industrialised nations to push up the value of its currency
the april 13 sale to be evenly divided between the three and six month issues will result in a paydown of 1235 billion dlrs as maturing bills total 2555 billion dlrs including the 9 day cash management bills issued april 7 in the amount of 1101 billion dlrs
morgan stanley issues warrants into japanese firm
peter miller apparel group 3rd qtr jan 31 loss
api says distillate stocks up 285 mln bbls gasoline off 237 mln crude off 113 mln
dixons group plc said that pursuant to an agreement with audio video affiliates inc part of an investor group that made a rival bid for cyclops corp cyl all litigation between them has been dismissed
dubin will become vice chairman of roberts and j
holding company gemina spa said it had no comment on an italian press report today that it has acquired a 12 pct stake in nuovo banco ambrosiano spa italian daily la repubblica said that gemina paid 205 billion lire for the shareholding from several italian banks
imports fell by 94 pct in february from january
us says canadian israeli pacts should spur trade
the government feels that the pact through its buffer stock mechanism can help stabilise prices in a market which is labouring under surpluses officials said
teck vice president of administration john guminski said in reply to a query that the talks had been ongoing for a long time he declined to speculate on the outcome
we are negotiating so that the debt question should not be one of continuous crisis funaro told a conference in rio de janeiro this week
schlecht said the upturn in west germanys economy slowed in the fourth quarter of last year and the first quarter of 1987
the directors also approved 15 mln dlrs of loans each for turkey morocco and jordan 16 mln dlrs for algeria 10 mln dlrs for south yemen six mln dlrs for tunisia and 31 mln dlrs for malaysia to finance the import of commodities including crude oil petroleum products and basic computer components
the best way for bonn to help its exporters is to work actively to promote free world trade he added
nabisco is 80 pct owned by rjr nabisco inc rjr
it added that one of the materials cited barite is a naturally occurring mineral routinely discharged into the sea during drilling operations
live cattle rally as lockout at meat plant ends
calmon estimated stocks as of january 1 at 18 mln bags of which 50 mln have already been sold for export
he declined to name the delegations
this is the first time a japanese bank has bought a stake in a portuguese bank
the company wrote off 141 mln dlrs of marble hill costs in november 1986 and repaid its final 20 mln dlrs in debt in october 1986 it said
the company said it plans to invest 25 mln canadian dlrs to expand on site treatment facilities to process 100000 tons of gold bearing deposits this year and 200000 tons in 1988
george wimpey profits up 42 pct to 665 mln stg
pioneer standard electronics inc pios payout
bank regulators have become concerned about the use of swaps because the middleman usually a bank takes on some portion of the risk but is not required to show it on the balance sheet as a liability and may not have sufficient capital to cushion it
european soy feed market opens quietly
rogers rog sees 1st qtr net up significantly
the transaction will be accomplished by italfunding obtaining a 443 mln dlr euronote facility in the market and then using the proceeds to provide a loan for the same amount to mexico
unleaded gasoline for april finished 055 cent higher to 5124 cts a gallon
ibm calls 250 mln dlrs of 9 7 8 pct notes for redemption
instead m 1 fell eight billion dlrs to 7457 billion dlrs at a seasonally adjusted annual rate
under the proposal icahn would have paid for each twa share 20 dlrs in cash and 25 dlrs face amount of 12 pct subordinated debentures due 2007
after the offering reebok will have 561 mln shares shares outstanding
theyve also begun to realise that you cannot legislate solutions to a 170 billion dollar trade deficit so they are more realistic and in my judgement more responsible on that issue than they were 12 or 18 months ago he added whether that will be reflected in the legislation that eventually emerges is another matter
that companys owner john daly would then become chief executive officer of the combined company which would be renamed hemdale film corp
rent a center inc is raising 35 mln dlrs via an offering of convertible subordinated debentures due 2012 with a 5 3 4 pct coupon and par pricing said sole manager morgan stanley and co inc
additionally the companies said charles wang currently computer associates chairman and chief executive will continue as chairman of the new company
ouko paid tribute to the private sector for its contribution to the economy and promised to improve government cooperation with businessmen by maintaining regular contact with them
but g 7 finance ministers judged by recent statements may be at an impasse analysts said
domtar inc said it filed a preliminary prospectus for an issue of 100 mln dlrs of 10 pct debentures to be offered at 99 3 4 to yield 1003 pct and to mature april 15 2011
he said they were unlikely to hesitate in holding interest rates steady or even raising them again if sterling showed any signs of excessive weakness
we have had a series of discussions with a great number of banks both bilaterally and individually on the foreign debt situation in preparation for april stals said
proceeds will be used to repay outstanding debt incurred to finance recent acquisitions the soft drink bottler said
stifel financial corp said it received an unsolicited merger proposal from privately held laidlaw adams and peck inc for 15 dlrs a share in cash for all its outstanding shares
cbt traders look ahead to spring plantings
natwest rabo unit reports 88 pct profit growth
cable and wireless restructures hk units
it was one of the many options we offered the banks in order to win an attractive pricing he said
this meant pioneer shareholders would be paid for all shares tendered within 14 days csr said in a statement
it said the notes are to be redeemed april 20 at a price equal to 100 pct of the principal amount of the notes plus accrued interest
they will be near the existing nissan plant in sunderland in north east england nissan said
unilever improves in most sectors during 1986
re exports fell 116 pct to 1062 billion dlrs from 120 billion dlrs in january but were 54 pct above february 1986s 688 billion dlrs
conditions will be set on march 11 and payment date is march 30
it was part programs and part that there was anticipation of an announcement of a spinoff or something with shearson this weekend and that announcement never happened one trader said
cumulative imports now total 130804 tons it said
an agreement between cbot and liffe in early february on mutual settlements is expected to link us treasury bond futures trading in london and chicago enabling a continuous 12 hour session bond managers here said adding the move was made with yen bond futures trading in mind
the minimum issue unit will be 100 mln yen and maturities will be from 30 days and six months they said
standard bank unable to make earnings forecast
this is a very prudent move on managements part said barnes
laurentian capital corp which recently acquired two small us life insurance companies had 1986 profit of 11 mln us dlrs or eight cts per share compared to seven mln us dlrs or 68 cts per share
hammer said his group has been accumulating exovir stock since oct 28 1985 for investment purposes and may buy more shares or sell all or part of his current stake
erc international erc to offer debentures
there is no doubt they could be used to target shipping across the strait of hormuz
the trend is still 35 pct in the first half of the year in 1986 declining energy prices contributed to a 25 pct decline in the ppi
bancroft bcv shareholders rebuke zico offer
they said the shipment was for april 8 to 20 delivery
in a filing with the securities and exchange commission redstone who controls dedham mass based national amusements inc a theater chain operator offered to raise the cash portion of its viacom offer to 42 dlrs a share from 4050 dlrs
the bank of england said it forecast a shortage of around 800 mln stg in the money market today
japan and west germany today reiterated that neither planned further interest rate cuts despite pressure from the us to do so mackoff said
china can play an important role by actively joining gatt discussions seeking to expand general trading opportunities and enhance market access for exports worldwide
family health system inc said the federal bankruptcy court in fort worth texas has approved its offer to purchase sheppard dental centers incs assets from a chapter 7 bankruptcy proceeding for about 300000 dlrs
it said the option can be exercised within 120 days and would mark its entry into the los angeles market
the acquisition was pursuant of a chapter 11 reorganization plan of american adventure
cobriza produced the equivalent of around 40600 fine tonnes of copper last year
the bonus issue will bring its outstanding capital shares to 6502 mln from 6192 mln as at march 31 1987
to match the difference between the ec price and the world market price the extra costs might be as much as 20 ecus per tonne it says
the company spokesman said the new york meeting will be held to inform the committee representing 72 banks of the latest developments on efforts to lobby the government
he quoted smcs chief financial director ramon del rosario as telling the board that the transaction would boost the ratio to 25 to 1
us fed explores commodity basket index
unocal ucl raises crude oil postings
consideration of the buffer stock rules is the most controversial topic on the agenda delegates said
the non member cocoa issue has been among the most contentious in the rules negotiations
morocco tenders thursday for pl 480 wheat
the ec has come under prolonged attack from geplacea for what the group charges is its continued dumping of excess output on world markets
in a filing with the securities and exchange commission chevron said it sold the shares for 1188 dlrs each or a total of 546 mln dlrs under an agreement it had with unc
sumita said the bank will take adequate measures including market intervention if necessary in line with the february 22 paris agreement by six major industrial nations
alcan said it has developed and tested the aluminum structure technology so that it is suitable for modern auto making methods and plants
according to terms of the proposed transaction each share of datron common stock excluding those shares owned by the four officers will be bought for six dlrs a share it said
fendt said the rise in imports in february to 127 billion dlrs from 112 billion in february last year was in line with government plans to foster economic growth
but economists say members such as west germany have so far blocked a second stage of development envisaged by the systems founding fathers ex west german chancellor helmut schmidt and former french president valery giscard destaing
april gasoline was 028 cent higher at 5315 cts a gallon
most market participants believe that lawson will now foster a further half point interest rate reduction at the time of the budget although one or two said they would not be surprised to see a full point decline at this stage
a congressional study today said the proposed but now apparently abandoned merger of the communications satellite corp cq and contel corp ctc would technically be legal but could violate the spirt of the law setting up comsat
first boston gave the issue a 690 pct coupon and priced it at 998125 to yield 695 pct or 65 basis points over comparable treasury securities
one noted that it was not immediately clear why the group should spend so much money buying a company it already controlled
when the dollar was strong against the mark many porsches had been bought locally in west germany for illegal export to the us porsche has previously said domestic sales in the 1986 87 first half fell to 3267 from 5387 in the same 1985 86 period
this they said could provide sudan with a clean bill of health from the imf that it could take to western government creditors grouped informally in the so called paris club to reschedule debt payments
turner said the prospects were good and it looked forward to taking advantage of the opportunities available
syria may have bought 80000 tonnes of french soft wheat some traders here said
today it was off 1 4
if purchases reach this level within six months buying is suspended pending an icco council review of price ranges
these realities they said support the henley groups statement that its santa fe stake is only an investment
yugoslav prime minister branko mikulic unveiling a new draft economic program said yugoslavia would cut repayments on its almost 20 billion lr hard currency debt to bring them in line with its hard currency earning capacity
the bank of england said it forecast a shortage of around 300 mln stg in the money market today
lieberman enterprises inc said carolco pictures inc is negotiating for the acquisition of the 50 pct of lieberman shares held by the families of chairman david lieberman and president harold okinow at 2050 dlrs each and if the deal were concluded public shareholders would be offered the same price for their shares
electro sensors inc said its board voted an extraordinary cash dividend on its common stock of 10 cts a share payable may 15 record april 30
he has already announced his intention of cutting the deficit to 100 billion francs in 1989
any company that doesnt like a surprise attack would arbitrageurs pointed out it is difficult to resist tender offers for any and all shares for cash
like non convertible money market preferred stock the new version allows investors to redeem their holdings every seven weeks
home shopping hsn affirmed by moodys
shr 20 cts vs 15 cts net 345970 vs 257252 revs 140 mln vs 134 mln note share adjusted for five pct stock dividend in december 1986
the statement denied published reports that total job losses would amount to 9000 employees
but siedenburg of smith barney thinks cyprus is overpriced at current levels
mountain states resources corp said it acquired two properties to its strategic minerals holdings
meatpackers strike morrell sioux city plant
cross and trecker ctco buys automation unit
several lawmakers have argued the new trade bill made too many concessions to reagan and said they intend to back amendments to get tough with countries that violate trade agreements or keep out us products
uk trade figures buoy hopes of interest rate cut
the offices being sold operate under the name of city consumer serices inc in arizona colorado illinois maryland new mexico oregon and virginia
one quarter or 178 mln dlrs will be paid on signature of the accord expected in late march with the remainder in three more instalments to be made every six months
campbell resources inc cch 2nd qtr dec 31 net
shr 116 dlrs vs 119 dlrs net 1514 mln vs 1524 mln revs 131 billion vs 117 billion avg shrs 1300 mln vs 1276 mln 12 mths shr 303 dlrs vs 285 dlrs net 3927 mln vs 3530 mln revs 432 billion vs 414 billion avg shrs 1298 mln vs 1239 mln
japanese computer chip makers reacted angrily to news the united states plans to take retaliatory action against them for allegedly failing to live up to an agreement on trade in computer microchips
he noted that new zealand bought its bananas from ecuador
asked if the bank of japan will consider a further cut in its discount rate he said he now thinks the bank will have to carefully consider its future money policy
sales during the first five months to february was 126 billion marks 467 pct down from the same 1985 86 period
the expatriate workforce has fallen sharply
uk average gdp rises 26 pct in 1986
texaco filed for protection under chapter 11 of the us bankruptcy code yesterday after failing to reach a settlement with pennzoil on an 11 billion dlrs court award for illegally interferring with pennzoils proposed purchase of getty oil co
british trade minister alan clark said this week in a radio interview that the european community should build barriers against japanese imports through certification procedures similar to those facing european exporters in japan
such bids often depend for their success on creating a highly charged and artificial situation in the share market and give rise to temptations on both sides of the battle to engage in aggressive even manipulative tactics that are immensely damaging to the interest of the shareholders he said
iran says us naval forces attacked two platforms
ramada inc ram files for note offering
foote mineral co said it signed a letter of intent to merge into rio tinto zinc corp plc for cash
the traditional industry seems destined to be replaced by new technology imports or some combination of both
so the sale does make a lot of sense mote said
the company said the offer is conditioned on approval of its board but a spokesman declined comment on whether or not the board has scheduled a meeting
blue arrow shares were trading 9p lower at 670 this morning
cftc will consider public comments on the proposal until june 3
average production costs for crude oil and natural gas declined nearly 30 pct to 341 dlrs per bbl of oil equivalent in 1986 from 481 dlrs in 1985 unocal said
health rehabilitation hrp sets first payout
after an already steep fall in the past week us interest rate futures may be in for further declines in the near term financial analysts said
the stake was between three and five pct but no further details of the deal which was announced simultaneously in paris london and hong kong were immediately available
the two elections will probably have a more decisive effect on the way business reacts he said
moodys cited texacos filing under chapter 11 of the bankruptcy code on sunday
japan aluminium output falls in february
thermo electron tmo considers unit stake sale
argentinas prime objective in renegotiating the debt was to maintain growth which has been targeted at four pct in 1987 baglini said
deputy finance ministers from the group of 10 leading western industrialised countries met here to discuss the world debt crisis trade imbalances and currency stability today following last months paris monetary accord sources close to the talks said
the government would follow with spending cuts in its economic statement on may 14 he said
us bank accounting guidelines do not require loans to be placed on nonaccrual unless interest payments are past due 90 days or more
the government lowered its gnp forecast for 1986 87 from four pct last december
the issues are aimed at helping curb the growth of m 1b money supply the result of large foreign exchange reserves now at more than 53 billion us dlrs
the financing involves a 70 mln dlr loan which is available for drawing in the six months after signing and a 75 mln dlr revolving credit which is available for the life of the credit
brazil today suggested to its foreign bank creditors an extension of short term credit lines for 60 days until may 31 a spokesman for the central bank said
the contract provides for the delivery of 48000 lbs plus or minus two pct of bulk hfcs 55 meeting specified standards regarding its physical and chemical properties
the company said the flat results will be due to higher than normal expenditures during the fourth quarter for expansion of its data processing capabilities
the announcement sent investors today scrambling for gm shares with more than 32 mln shares changing hands by mid day
oper shr loss 19 cts vs loss 38 cts oper net loss 239000 dlrs vs loss 476000 dlrs revs 160 mln vs 146 mln
the deficit for the eight months to the end of february was 153 mln dlrs as against 1057 billion dlrs in the same period a year ago
shr 14 cts vs four cts net 1474000 vs 286000 revs 155 mln vs 14 mln avg shrs 106 mln vs 75 mln nine mths shr 38 cts vs eight cts net 3387000 vs 588000 revs 334 mln vs 29 mln avg shrs 88 mln vs 75 mln
stephen slifer of shearson lehman brothers inc added we have some very good looking monetary aggregate data
malaysia is a member of the association of tin producing countries atpc which produce 65 pct of world tin
soviet planning chief nikolai talyzin told the supreme soviet parliament industrial output is planned to rise by 45 pct in 1988 up from a planned 44 pct in 1987
swiss watchmaker smh societe suisse de microelectronique et dhorlogerie is issuing a 100 mln swiss franc 10 year bond with warrants to buy participation certificates lead manager union bank of switzerland said
the company today reported 1986 earnings of 439100 dlrs on revenues of 9918413 dlrs up from earnings of 259948 dlrs and revenues of 9683392 dlrs a year before
in a form 8 k filing with the securities and exchange commission endotronics said the note was for overdue accounts receivable from sales of instruments to yamaha and another japanese distributor during the companys 1986 fiscal year
the european operations had sales of 186 mln dlrs in 1985 the last year for which results have been released the company said
shares of polaroid corp rose following a reiterated recommendation by merrill lynch and co that focused on strong earnings momentum for the company traders said
all sales covered by the credit guarantees must be registered and shipped by september 30 1987 usda said
shr 80 cts vs 72 cts net 55513000 vs 48741000 revs 2909 mln vs 2642 mln year shr 309 dlrs vs 272 dlrs net 213470000 vs 184649000 revs 112 billion vs 9929 mln avg shrs 69127000 vs 68004000
the indonesian government said crude palm oil cpo output is expected to rise to 156 mln tonnes in 1987 and 211 mln in 1988 up from a projected 145 mln tonnes in 1986 and 126 mln in 1985
the terms of the proposed transaction were not disclosed
bankers attending the inter american development bank annual meeting here said the two sides are still working on a plan that embraces manilas proposal to pay interest partly with philippine investment notes pin instead of cash
the philippine government seized the shares which represent a 31 pct stake in the brewery firm from the united coconut planters bank alleged by the government to be linked with the countrys deposed president ferdinand marcos
cable shares were quoted seven pence lower in morning trading at 367p
leclerc said alcan decided it would cost too much to modernize the plant
construction group spie batignolles is negotiating to increase its holding in us engineering and electrical installations firm comstock spie batignolles a subsidiary of schneider sa schnpa said in a statement it was negotiating to invest 20 mln dlrs in comstock in the form of bonds convertible into shares
ekofisk and the nearby valhall and ula fields which use the ekofisk pipeline were shut down for most of august while phillips raised ekofisk platforms to counter seabed subsidence
baker then filed a suit seeking punitive damages from hughes for calling off the merger
among manufacturers car parts makers are under the most pressure to buy up overseas companies and follow the big auto makers they subcontract for as these move offshore
the companys 1986 us turnover of about 750 mln dlrs made a listing on one of the new york exchanges a logical next step van driel said without elaborating
after the usda released its report of cattle on feed in seven states as of march 1 cattle futures on the chicago mercantile exchange yesterday rose sharply
if you really want to expand domestic demand the way to do it is not to raise wages recklessly but to reduce commodity prices bumpei otsuki president of the japan federation of employers associations told a recent press conference
geodynamics corp gdyn 3rd qtr feb 27 net
some prices advanced by as much as 1 1 2 points yesterday as the rest of the market eased back further
shr 12 cts vs seven cts net 817000 vs 512000 revs 1075 mln vs 999 mln avg 69 mln vs 72 mln note 1987 net includes 24 mln dlr pretax gain on settlement 743000 dlrs gain on securities sale interest expense net of investment income of 22 mln dlrs and 920000 dlrs in fiscal 1986
wholesale prices rose 20 pct in the first five months of 1986 while consumer prices rose by 32 pct
in particular the june canadian dollar for which sloane recently put out a buy recommendation has hovered in a range between 07600 and 07660 in recent weeks forming a triangle on the charts from which it may soon break out on the upside
the interest rate on the rescheduling was originally set at 1 1 8 pct over eurodollar rates but venezuela requested easier terms because of a 40 pct drop in oil income last year
raymond exxons new president singled out the possibility of a closure of one of exxons refineries in france during the interview
last year the company had 257 mln dlrs operating profit or 76 cts per share up from 111 mln dlrs or 59 cts per share in 1985
there was no rainfall in the same period in la pampa
sports carmaker dr
brazilian troops to leave oil refineries
jefferson said good progress was made in the latest nine months while most customers were able to maintain their normal level of calls during the recent strike by company engineers
the agency cited expectations that macks profitability will improve over the marginal levels of last year
many portfolio managers are working with relatively high cash positions in equity accounts often 25 to 30 pct given the belief that there may well be downward price corrections enroute to higher ground
venezuelas biggest private sector company la electricidad de caracas will meet urgently with bank creditors in new york on monday to discuss the danger of a total default on its 622 mln dlr foreign debt a company spokesman said
she told delegates at the informal meeting of trade ministers that this was one of five principles canada wanted adopted in reforming agriculture in the general agreement on tariffs and trade gatt secondly support for agriculture should avoid production incentives and thirdly countries should freeze and seek to reduce government aid measures that distorted world prices carney said
in addition there are four mln restricted shares outstanding
american intl group inc aig 4th qtr net
wheat stocks may 31 1987 projected at 1848 vs 1877 last month
total supply includes imports but not broken kernels
proven reserves as of december 31 1985 were 978000 tons grading an average of 0194 ounces of gold a ton equivalent to about two years future production
the swiss based pharmaceutical giant said the new group which formerly operated under its us pharmaceutical division represents the first time ciba has developed an operating group from within its corporate structure
the 1986 net includes a provision for estimated loss on dispositions of 570 mln dlrs compared to 151 mln dlrs the year earlier
there was balance between the purchase and sale of foreign securities the statement added
meritor savings bank launches 200 mln dlr bond
a further 100 mln bu of soybeans could be forfeited between september and end year
yeutter sees gatt consensus on farm trade reform
essentially it is a flat performance said warren jestin deputy chief economist at the bank of nova scotia
corrects year of loss in third paragraph in item which originally ran february 27
he said about 20 pct of the companies products overlap
they said ministers agreed that the eurofer plan should be expanded and developed through meetings among the industry body the commission and representatives of member states
the tokyo commodity exchange for industry tocom which also trades rubber futures in japan said it has no plans to introduce an extra session
but others believe the company could very well of considered the option of spinning out part of shearson and one rumor suggests selling about 20 pct of it in the market
the tanker is owned by the national iranian tanker co
the amsterdam unit of french bank societe generale said it is launching a 50 mln guilder five month certificate of deposit programme starting march 6 and ending september 7
while cash in circulation deposits with statutory withdrawal notice and sight deposits grew sharply short term time deposits fell after expanding unusually strongly in january
k mart said 1985 was restated to account for discontinued operations
japanese officials in turn pointed the finger at the huge us budget deficit as one of the main culprits for the trade imbalance
if it buys more shares metropolitan said it would consider doing so in the open market in private deals or through an exchange offer tender offer or merger
but the test came this week with the dollar falling below 181 marks and 150 yen
us wheat growers set state dept trade meeting
the index was down 71 pct from a year earlier
the icco daily and average prices on friday fell below the must buy level of 1600 sdrs a tonne designated in the pact which came into force at the last icco session in january but without rules for the operation of the buffer stock
congress would approve an initial us subscription of 22 mln dlrs
the government will provide new guarantees for up to three billion hk dlrs in financing instruments to be issued by the government owned mass transport railway corp bringing the total to 91 billion dlrs financial secretary piers jacobs said
it said one proposed venture would produce aluminium packaging for food and cosmetics
in a filing with the securities and exchange commission parsow said it sold 42800 erc common shares between jan 9 and march 2 at prices ranging from 12125 to 1450 dlrs each
japanese demand for uk gilts seen rising
malaysia is a leading exporter of rubber palm oil tin and semiconductors and a major producer of cocoa timber and oil
chinas wheat imports in january were 218000 tonnes down from 393000 in january 1986 the china daily business weekly said quoting customs figures
the restructuring touched off a flurry of friendly and hostile takeover attempts
production at trail and kimberley has been shut down since the strike began may 9 and cominco has had to declare force majeure which means the company may be unable to honor contracts for products from the smelter and mine
nowak said that based on an average oil price of 17 dlrs a barrel in 1987 the company should earn about 450 dlrs a share
gold futures which previously had a limit of 25 dlrs per ounce in most back months were about 700 dlrs weaker in the nearby contracts amid thin volume conditions traders said
south african gold holdings rise in march
lisec tinto who formulated merrills latest asset mix recommendations with new chief investment strategist charles clough said there may be some consolidation of recent stock price gains but the market appears to have good potential
such substitutions are made from time to time most recently with the addition of mcdonalds corp mcd in october 1985 to reflect long run changes in the economy and the market it added
speaking to reporters at the annual meeting of the inter american development bank iadb here nogales said bolivias bank advisory committee led by bank of america is seeking permission from creditor banks worldwide to go ahead with the scheme
no early redemption will be permitted
the sri lankan cabinet approved recommendations to upgrade the quality of coconut fibre products the government said
linseed cake and expellers 146 145 pellets 124 123 and meal 114 113 all for shipments july onwards
he noted that brazil is a country with a diversified economy going through some economic upheaval after the transition from a military to a civilian government
normal work has resumed at new zealand ports as negotiations between harbour board workers and employers continue
but it held over for the full ways and means committee debate on a controversial plan by rep
shr 21 cts vs 60 cts net 156576 vs 443404 sales 5309519 vs 5381264 year shr 106 dlrs vs 155 dlrs net 788220 vs 1151330 sales 223 mln vs 236 mln
canadas mulroney says us trade deal nears
prices of north sea brent grade crude dipped to a low of 850 dlrs a barrel last july from a peak of over 30 dlrs the previous november
the policy is proving counter productive and rates will have to come down in the long term the bank spokesman said in reply to enquiries
merrimac industries inc mmac 4th qtr net
argentina unaffected by brazils maize decision
german veba placement said likely early next week
investors have 55 pct of datarex systems drx 
one company has bought 800000 barrels of iranian heavy at a straight discount of 30 35 cents below the official price the sources said
brazil did not do this homework one said
the times of zambia said another major issue in the governments current talks with the imf and world bank was the remodelling of zambias foreign exchange auction
elxsi elxsf wins mcdonnell douglas md order
total job losses by 1989 were now expected to total up to 7800 against original projections of 5900
it has given no indication of when it may resume interest payments prompting fears that some large us banks may be forced into substantial debt writedowns and calling into question the viability of the us strategy
palomino said the government would soon publish a list of those to be sold including those whose shares would be offered on the lima stock exchange
the negotiations are not going to prosper if the creditor banks do not change the counter proposal put to argentina as it is a swiss cheese full of holes ruling radical party deputy raul baglini said
after months of wrangling over the worth of shell oil royal dutch shell agreed to another two dlrs increase
according to the 1987 federal budget the state is due to lower its stake 60 pct in laenderbank probably to 51 pct
haynes said prospects for the companys petroleum products division are more promising than before but are still uncertain
industrial production growth is along the lines of what the fed wants the energy products component of ppi rose 40 pct in february after a 98 pct increase in january
the tankoku mature on september 21 1987
they said the relaxation of controls was now under review by the petroleum council an advisory panel to the ministry of international trade and industry miti a spokesman for a major firm said deregulation would bring about a reorganization
terms were not disclosed
volcker called on educators to stress the development of basic reading writing and mathematics skills and urged them to help students adapt to the fast changing economic climate
usda said the bill would discourage farmers from buying crop insurance and fall short of the administrations proposed broad scale revision of farm programs
attacks affect colombias oil outlook ecopetrol
shr 25 cts vs na net 3081000 vs 2063000 nine mths shr 86 cts vs na net 105 mln vs 6966000 note year ago per share amounts not available as bank converted to stock ownership august 13 1986
it added that revenues would have risen by about seven pct had those changes not occurred
on the demand side developments in automobiles and packaging bode well for secondary aluminium consumption
a 175 mln dlr issue of bonds due 1997 was given an 8 3 4 pct coupon and priced at 99375 to yield 8845 pct or 128 basis points over comparable treasury securities
no further details of the sale were available
shr loss 12 cts vs loss 99 cts net loss 1476000 vs loss 11965000 sales 834 mln vs 1109 mln year shr loss 179 dlrs vs loss 190 dlrs net loss 21720000 vs loss 22969000 sales 2590 mln vs 3173 mln
thai officials told they were optimistic the new pact was viable because it strictly limited the extent of debt the inra buffer stock manager might commit to his market operations
everyone in the government agrees that if there is a subsidy to be offered we would not offer it unless we had a firm commitment from the soviets that they would buy usda does not want a repetition of last summer when the ussr baulked at its offer of four mln tonnes of subsidized wheat the official who asked not to be identified said
university of missouri agronomist glen grimes said the report shows that hog producers have responded to a very desirable feeding ratio that they enjoyed for the past 10 months shearson lehman analyst chuck levitt said hog futures prices are above producers break even points
the al rai al aam newspaper quoted him as saying opec was pumping 24 mln barrels per day bpd less than its 158 mln bpd ceiling while consumers were drawing down their petroleum stocks at a rate of 45 mln bpd
new jersey resources njr files to offer stock
the bank was also studying philippine proposals for loans to finance geothermal and education projects sources said
gunze sangyo sets 25 mln swiss franc notes issue
uk money market deficit forecast at 450 mln stg
i suspect there will be further moves he said
viacom via natl amusements seek fast merger
division seen on how to help us oil industry
to the extent that individuals were not fully accepting or cognizant of the seriousness of domes financial position the financial statements reflecting this writedown of the value of assets is certainly going to indicate the depth of the hemorrhaging that has taken place gobert said
jp morgan and co inc 1st qtr shr 122 dlrs vs 128 dlrs
british aerospace plc baell 1986 year
qtly div 30 cts vs 30 cts in prior qtr payable may 25 record may one
besides the 13 billion dlr frozen debt south africa also owes ten billion dlrs of debt that includes a significant amount of medium term liabilities that will continue to be repaid on normal maturity dates
penn central pc sells uk unit
gardini commenting on callebauts remarks said amylum should know that one succeeds in a bid by making the right offer at the right moment exactly as ferruzzi did in the case of the acquisition of cpcs european business gardini said it was not callebauts business to concern himself with the european sugar capital raising operation under study he added
qtly div 47 1 2 cts vs 47 1 2 cts prior qtr pay 20 april record 6 april
indonesian exports of cpo in calendar 1986 were 530500 tonnes against 468500 in 1985 according to central bank figures
the us last year had major deficits with three of its asian trading partners south korea 71 billion dlrs hong kong 64 billion and china 21 billion
eastman kodak co said it has reached an agreement to acquire new stock representing a 16 pct interest in industrial biotechnology company genencor inc for undisclosed terms
usair said piedmont has granted it an irrevocable option to buy up to 3491030 new shares under certain circumstances
hillards shares were last quoted at 324p compared with last nights close of 313p
uk lead and zinc offtake rises in january
combined wheat and barley futures trade declined to 892700 tonnes from 119 mln in january and the value fell to 97 mln stg from 129 mln grain and feed trade association gafta figures show
however he said not enough financial details are known about domes debt restructuring to compare the value of transcanadas proposed offer
it suggested that resources idle in the us both human and in underutilised factories were not geared to produce the goods and services sought from abroad
a facsimile machine sends printed data over telephone lines while a key telephone system is used for switching calls within a business industry sources said
the agency said a decline in sales and profits were little offset from the companys retail business
purolator lost 120 mln dlrs over the last two years largely due to us courier operations which we believe the management is turning around
philadelphia exchange to extend hours for asia
a net has been thrown over the gaping loading doors at the front of the ship to prevent any more drums floating out
among the main factors affecting liquidity bills maturing in official hands will drain some 501 mln stg while a rise in note circulation and bankers balances below target will take out around 285 mln stg and 45 mln stg respectively
including the tax the one ounce coins traded today at 906 marks they said
if that level is broken and the dollar continues to decline keefe said she expects the june bond contract to decline to test support between 92 and 93 the primary uptrend line dating back to 1984
chicago mercantile exchange floor traders and commission house representatives are guesstimating todays hog slaughter at about 300000 to 305000 head versus 292000 week ago and 316000 a year ago
hong kong cd market shuts down after new issue
the brazilian delegate said several producers requested the meeting but brazil was not among them
funaro says creditors willing to help brazil
hodel urged congress to approve oil exploration in section 1002 of the arctic national wildlife refuge in alaska
moodys expects minnesota powers earnings returns coverage ratios and cash flow measures to decline substantially during the next few years
the palm oil would come from malaysia or indonesia
but imports do not seem to be picking up much because the japanese economy remains sluggish he said
roy garofalo woolworth vice president told that income generated by the companys specialty store operations accounted for 52 pct of the parent companys 1986 profits
electrohome elxto to sell unit
exxon corp said in its annual report that it raised production in 1986 although it did not replace all oil and gas produced
kuwait said seeking foreign protection for oil
us eep veg oil proposals still under review
franco nevada said american barrick announced on march nine that the drilling indicated a number of significant intersections of sulfide gold mineralization below a depth of about 1000 feet
furthermore merrill lynch economics analyst david horner said g 6 central banks havent yet shown the full force of their commitment to the paris accord
franklin utilities fund sets payout
a major french bank said it acted for the central bank in buying between five and 15 mln dlrs against yen
real gdp will grow by up to 25 pct
in the first quarter it looks like automakers are producing at an 85 mln unit annual rate but selling at roughly a seven mln unit rate roach said
american pork congress kicks off tomorrow
semi div 13 cts vs 18 cts prior pay march 13 record march two
closing is expected around march 31
it is in the interest of all to work for the future
the hamburgische landesbank girozentrale canadian dollar bond issued earlier today due may 6 1990 at 8 1 4 pct and 101 3 8 has been increased to 75 mln dlrs said merrill lynch capital markets as lead manager
strength in the single family sector indicates that low mortgage rates are doing their job
while prices continue to rise the napm said that most purchasers do not see them as being significant
china has 521 sugar mills
kohlberg kravis has 96 pct owens illinois oi 
baker has also opposed the legislation which will be wrapped into a major trade bill for consideration in the house in late april
the move will provide long term stability to ensure continuity of overall control of the hutchison group in that it provides hutchison with a stable framework within which management development and the planned growth of the groups businesses can take place it added
salomon sells 200 mln stg mortgages backed notes
a 100 mln dlr deal for norsk hydro was launched later in the day and the issue was trading around its total two pct fees at close of grey market trade although dealers said the borrowers frequent appearance in the euromarkets could deter investors
about 15000 miners attended a rally here to endorse moves proposed by last weeks annual meeting of the 200000 strong national union of mineworkers num they also supported a proposal for a national strike at the end of this month if the owners refused to begin negotiations
the average exchange rate was 1623 shillings per us dlr last year a fall of only 12 pct from 16432 in 1985
french cereal exports through rouen up in march
sl industries inc sl 2nd qtr jan 31 net
may was at 154 dlrs from 15280 asked last night
pegasus gold inc said it cut its long term debt to 85 mln dlrs from 100 mln dlrs when its european bondholders voluntarily converted some of their debt holdings into 15 mln shares of pegasus common
data architects inc dai 2nd qtr may 31 net
the february incomes rise was the largest monthly increase since a 12 pct rise in april 1986 the department said
year on year finnish consumer prices fell to 35 pct in february 1986 from 37 pct in january and 46 pct in february 1985 the central statistical office said
natures sunshine products inc amtco 3rd qtr
reports about the trade surplus especially overseas tended to concentrate on nominal trade figures which rose to a record 1122 billion marks in 1986 he said
these were programmes they thought were necessary to stabilise market conditions and to help themselves attain better pricing conditions nazer said
the bond matures on may 6 1992
normally winterkill is caused by inadequate snowcover combined with cold temperatures
output is running well below the record 86 mln produced in 1970
merrill lynch and co inc mer subsidiary seeking to take over of borg warner corp said it could realize a 30 mln dlr fee for its efforts whether or not the deal which it values at 47 billion dlrs succeeds
the bills will be issued march 12
but he told reporters japan should not cut its lines of communication with iran and iraq because its policy was to take a broad political stance
wal mart stores inc 4th qtr shr 65 cts vs 47 cts
ames said it expects to report earnings of between 72 and 77 cts per share compared with 119 dlrs per share in the previous year
japan wants to resolve the issue through consultations by explaining its stance thoroughly and correcting the points that need to be corrected he was quoted by kyodo news service as saying
the notes are guaranteed by fuji bank ltd
brazils interest payments moratorium announced last month is being seen as a major challenge to the baker plan
hamburgische landesbank girozentrale is issuing a 50 mln australian dlr eurobond due april 2 1991 paying 15 pct and priced at 101 1 2 pct lead manager orion royal bank ltd said
net would have risen 101 pct but for the increase in company tax to 49 pct from 46 and the imposition of the tax on fringe benefits paid by employers and not the recipients the company said in a statement
he said no date has been set for the meeting and declined to comment on published reports in the past few months that banks may demand accelerated repayments
the spokesman described mondays talks which he called private as very positive
japan is now the second largest shareholder in the banks concessionary lending affiliate the international development association ida it has also agreed recently to expand its contribution to another affiliate the international bank for reconstruction and development ibrd conable noted
forstmann little and co to sell unit
arizona silver corp said diamond drilling on its burro creek mine property located 65 miles southeast of kingman ariz has begun
under the agreement sudan will receive 50 mln dlrs for the commodities and the rest for sea transportation
the debenture is convertible to one mln common shares of first toronto for a period of five years
rep
a group led by dallas investor harold simmons told the securities and exchange commission it had reduced its stake in mcdermott international inc by one pct to under five pct
however moodys noted that gaf has demonstrated an ability to profit from takeover attempts
as for the remaining 30 pct iida said he wanted to shift the domestic focus away from heavy machinery sold to manufacturers and towards household goods but he declined to specify which products
after the lifting of us sanctions against the polish economy we considered all political obstacles had been removed but that has not been the case urban said
americus shareowner service corp said the americus trust for bristol myers will continue to accept tendered bristol meyers co bmy shares until december one extending the original expiration date of april one for eight months
the us unit of nomura securities co ltd of japan acting as sole underwriter won in competitive bidding 250 mln dlrs of extendible notes of general electric credit corp a subsidiary of general electric co ge the rockwell deal is daiwas second as lead underwriter
ford raises qtly payout 10 cts shr to 75 cts
stoltenberg said that everything had been carefully considered
japanese government officials said they are confident they can make the pact work
ten of the departing companies were based in san francisco
taiwans 1986 trade surplus with washington was the third largest after japan and canada
the department also said at the request of the north yemen government five mln dlrs in credit guarantees previously earmarked for sales of wheat have been switched to cover sales of mixed poultry feed
the second two tranches of the equipment backed deal are non callable for five years drexel said
company is a subsidiary of switzerlands bbc ag brown boveri und cie bbczz
longer term yields fell with 10 year bonds at 1366 68 pct from 1374 before the release and highs of 1387 yesterday
stewart warner corp stx 4th qtr loss
i think it is possible that there may be scope for a further reduction in interest rates in germany he added but stressed that he had had no indication that such a move was likely
but german dealers noted that the bundesbank kept the 380 pct rate unchanged at which it offered liquidity to the money market this week dashing some expectations that it may either offer lower fixed rate money or offer a reduced minimum rate and let the strength of banks demands set the allocation rate
lme clarifies new aluminium contract details
thailands m 1 money supply rose 98 pct to an estimated 1173 billion baht in january after increasing 66 pct in december the bank of thailand said
with this out of the way if it indeed was bought by institutions it paves the way for better value for usair stock later said janney montgomery analyst louis marckesano of twas sale of its stock
this compares with the banks upward revised shortage forecast of around 500 mln stg
usx x proved oil gas reserves fall in 1986
transamerica corp ta quarterly dividend
unadjusted annual growth in sterling m3 was 18 3 4 to 19 pct in the 12 months to february against 176 pct in january while m0 rose four to 4 1 4 pct after a 52 pct rise in january
shr loss two cts vs profit nine cts net loss 74000 vs profit 418000 sales 182 mln vs 175 mln year shr profit nine cts vs profit 26 cts net profit 426000 vs profit 1170000 sales 587 mln vs 567 mln
the company which is still in default said it expects to completed amended loan agreements during the next few months
the us department of agricultures forecast that french end of season soft wheat stocks will almost double in 1987 88 is premature but would not be surprising according to french cereal organisation officials
saudi role in gulf praised by us officials
rosewood which is owned by the caroline hunt trust estate whose trustees include margaret hunt hill also said it has notified the federal trade commission of its intent to buy between 15 and 25 pct of comdatas common stock
the northern new south wales regional group is emerging as a national media force in the wake of the industry restructuring sparked by the news corp ltd ncpas takeover of the herald and weekly times ltd hwtas group
azpurua said four basic elements are being negotiated with the banks now spread reduction deferral of principal payments due in 1987 and 1988 lenghtening the 12 1 2 year repayment schedule and debt capitalization schemes
the british source said the decision not to specify the exact shareholdings of the core companies could leave the door open for further discussion
bankers said the measure is designed to curb the inflow of foreign exchange and slow the growth of money supply
but taiwan and to a lesser extent south korea stand in marked contrast
wickes companies inc said it completed the sale of its sequoia supply division to a new company created by the management of that division
over the past 18 months the price moved to a ten year low of 3400 stg in march 1986 and rebounded to as high as 4680 stg in december 1986
payment date is may 28 with the first coupon payment in 1988
several indepndent oil companies such as permian corp and coastal corp cgp said they had moved prices up effective last friday the day sun co sun announced a 50 cts a barrel increase to 1900 dlrs a barrel
an agreement with the banks officials now say is expected soon
union to protest darts supermarkets sgl bid
dealers said the large banks which they did not name commanded short term money requirements of as much as five billion marks or so
each 50000 franc bond carries 81 warrants entitling the holder to buy 100 nippon signal shares for 594 yen each
west texas sour was up 10 cts to 1660 dlrs a barrel
the index base 1980 equals 100 registered 1728 in january compared with 1709 in december
london meat futures need marketing chairman
the usda has been using the gulf price to determine county posted prices one dealer said
he would not specify the amount of the write off
second half sales are expected to be stronger based on a return to a more traditional seasonal shipping pattern in which retailers order and stock conservatively early in the year and time large shipments for the second half it said
saudi supertanker reported hit by iran off uae
lucas industries convertible bond increased fixed
engineering group linde ags lingf world group turnover rose to 5186 mln marks in the first two months of 1987 52 pct more than in the same 1986 period management board chairman hans meinhardt said
crude oil futures followed but gasoline futures lagged
world bank report criticises peru economic plan
but price increases slowed sharply for gasoline and home heating oil the department said
said it will sell its 49 pct holding in canadian building firm canadian foundation company ltd to rival banister continental ltd a company spokeswoman told skanska will receive banister shares as payment giving the swedish group 15 pct of the stock in the expanded banister firm
but he added the company was not opposed to greater competition
the bank said the issue would be placed with international institutional and private investors
the share currently trades at 734 francs
the bonus of 146500 dlrs per head was made to american marketing services inc and will be paid in the form of commodities from the ccc inventory it said
barker and co jmr barker foundation quaker hill associates lp upland associates lp and james m
it also agreed the president may waive any retaliation if it would hurt the us economy
we are waiting to see what consumers say a producer delegate said
uni marts immao acquires gas n all stores
it was quoted at 372 today little changed from 37 a year ago
encor 48 pct owned by dome petroleum ltd dmp said investment dealers mcleod young weir ltd and pemberton houston willoughby bell gouinlock inc agreed to purchase the issue for resale to the public
the obvious lack of coordination between the bundesbank and finance ministry does not instil confidence in foreign investors said one economist for a london broker who asked not to be identified
north yemen at its weekend tender bought white sugar from a french operator acting on behalf of a swiss house at 21470 dlrs a tonne c and f traders said
zimbabwean officials were not immediately available for comment
it said the earlier reported 571 mln dlr profit for the year ended december 31 against a 6913 mln dlr loss in 1985 was also aided by lower interest rates on us dollar debt and greater sales of bauxite and aluminium
the improved outlook results from amr corps amr decision to order 40 new planes powered by cf6 80c2 ge engines
ussr crop weather summary usda noaa
a house banking subcommittee has approved legislation to limit the interest rates charged by banks and other credit card issuers
it is a sort of middle of the road agreement one delegate said
silver state mining corp said it has corrected its 1986 fourth quarter net income to 485380 dlrs from 528790 dlrs reported earlier today
he said the us debt strategy which envisaged stepped up lending by commercial and multilateral banks to major debtor nations of 29 billion dlrs over three years was insufficient to achieve the necessary rates of growth
chinas application to join the general agreement on tariffs and trade gatt is seen as a test case by the soviet union which will probably demand to follow china a top european community official said
the diplomatic sources said the citrus issue could be reopened if the pasta dispute was not solved quickly
many have suggested that the larger us banks should take on the additional obligations but so far they have resisted this
it said shareholders will be asked to approve an increase in authorized common to 100 mln shares
mitek als said it has introduced a line of 15 page per minute desk top laser printers
total west german exports to western industrialised countries also fell in january to 3476 billion marks from decembers 3645 billion also posting the lowest monthly total since july 1984
he told business executives the most important issues for the world economy are the correction of international trade imbalances and a solution to the world debt problem
the selling concession is 3 4 pct while management and underwriting combined pays 3 8 pct
he added that no one should expect any dramatic developments before march 31 brazil last month suspended interest payments on its 68 billion dlrs debt to commercial banks and froze short term trade and money market lines
fed adds reserves via customer repurchases
some 230 mln dlrs is needed over two years to vaccinate the entire susceptible cattle population in bangladesh and pakistan and high risk areas of the other three countries
south korea has two projects in hand which will increase its ethylene production capacity by 500000 tonnes a year by the end of 1989 so the strong demand surge for imports is only a medium term trend they said
todays foreign ministry statement carried by the kuwait news agency kuna said the recent detention of kuwaiti fishing vessels by iran was not the first
this means that the current dollar selling is not of a sheer speculative nature but backed by real demand said koichi miyazaki deputy general manager at sanwa bank
an income tax surcharge and capital gains tax could bring about an urgently needed depreciation of the nz dollar independent economist len bayliss said
the usda said it had accepted 10572402 more acres into the conservation program out of bids on a total of 11254837 acres
the senate could consider a house passed bill that would allow wheat and feedgrains farmers to receive at least 92 pct of their income support payments if flooding last year prevented or will prevent them from planting their 1987 crops senate staff members told 
bank mees en hope nv a fully owned subsidiary of algemene bank nederland nv said it launched the second tranche of a 100 mln guilders commercial paper program for the city of the hague
noranda mine seen below full output for months
standard and poors corp has been in the business for more than a century while moodys investors service inc was founded more than 80 years ago
neither have the government regulators indicated that there will be a problem
the effective rate for arms was 839 pct 15 basis points below a month earlier
tokyo has denied the charges
uk money market given further 152 mln stg help
chatwal
the agency rates a finance unit on its creditworthiness as well as the support agreement it has with its parent
the implied senior secured debt rating is bb
reynolds said its proceeds will be used to refinance certain long term debt
cistron biotechnology inc said it will pay a stock dividend declared prior to the initial public offering of its common stock in august 1986 to stockholders of record prior to the common offering
he noted however that oil companies were still spending six mln stg a day to maintain north sea production
this he said would further bolster national security in case of an oil supply disruption
they estimated development costs for the mine and mill would total 211 mln dlrs including three mln dlrs of working capital
however stoltenberg said that in real terms west germanys exports by volume had increased by 15 pct while real imports had risen by a much stronger 62 pct
melamed said proposed changes in floor practices by traders of the popular standard and poors 500 stock index future would address complaints of trading abuses and stimulate trading
the belgian government which introduced large scale public spending reductions last year has been told by an international monetary fund team there is scope for further cuts in 1988
foreign liabilities of the bundesbank were largely unchanged at 228 billion marks giving a rise in net currency reserves of 400 mln to 870 billion it said
previous tenders over the last month by interest rate have seen the allocation rate on these facilities rise to 385 pct at last weeks pact from 360 on the last fixed rate tender in late september
industrial equity pacific does not intend to remain a passive investor in calmat the firm told the sec
revenues in the quarter fell to 5211 mln dlrs from 7169 mln and in the year fell to 19 billion dlrs from 25 billion in 1985
honeywell said hiss federal systems division is now a wholly owned unit of honeywell inc and has been named honeywell federal systems inc
feds johnson says dollar is very close to appropriate exchange rate level
chrysler credit canada ltd is issuing a 75 mln canadian dlr eurobond due aoril 15 1993 with a 9 1 4 pct coupon and priced at 101 1 2 pct orion royal bank ltd said as lead manager
trading is expected to start later this year
funaro was scheduled to travel to switzerland tomorrow they added
they benefited considerably from the pickup in loan demand as their loan portfolio is well balanced an analyst at mansion house securities fe ltd said
duff and phelps said the utilitys debt ratings were lowered because of the recent negative rate order for its hope creel nuclear plants
permian corp said that effective march 5 it raised its posted prices for crude oil 50 cts a barrel
it said the discovery was made in sands previously untested in the area
the december unadjusted surplus was revised down from a provisional 82 billion
qtly div 40 cts vs 40 cts pay march 31 record march 16
effective with may three shipments it said the price base on carbon and high strength low alloy or hsla h piles will increase by 1 1 2 cts per pound
analysts said this was a new peak for the date
the bank of zambia said it received 370 bids ranging from 1300 to 2075 kwacha for the six mln dlrs on offer
ali said the problem of differentials is a real one
much of the momentum was derived from the futures market where a high 33074 lots were traded in the long gilt june contract
the sources said the tone of poehls comments boosted growing sentiment that the dollar would be stabilised around current levels by international central bank cooperation
new singapore financial market set to open
from the parent net profit 60 mln marks would be placed in published reserves unchanged from the two prior years
bank spokesman arne lund said we could not do it earlier because it was not possible for the tax authorities to say if the certificates were liable to stamp duty or not he said the issue should be assisted by high short term interest rates
goodyear tire and rubber co said it expects to report earnings from continuing operations of over one dlr per share on 713 mln average shares outstanding
new zealand to repay up to 600 mln dlrs of debt
the creditors strategy spelled out by us treasury secretary james baker in october 1985 is to spur additional lending by private banks and multilateral development banks in return for economic reforms
bhp said the petroleum division earnings fall reflected generally lower oil prices and sales volumes from bass strait while the steel decline was due to a five pct fall in domestic sales and higher costs associated with the commissioning of new plant and some operational difficulties
honduras will tender april 13 under public law 480 for approximately 52500 tonnes of various wheats in bulk an agent for the country said
bp will draw in cash from its operating companies around the world and is also arranging a five billion dlr line of credit he explained
deutsche bank finance nv curacao is issuing a 100 mln australian dlr eurobond due may 14 1990 paying 14 1 8 pct and priced at 101 1 4 pct lead manager deutsche bank capital markets ltd said
the bank of england said it had revised its estimate of the shortage in the money market back to its initial forecast of 550 mln stg
allied signal inc ald 3rd qtr oper net
general electric ge to buy kraft kra unit
upcoming changes being considered in the us agriculture departments transportation and loan programs were outlined by a usda official today
its first chairman was joseph kennedy an industrial magnate who was also the father of john kennedy later to become the nations 35th president
the bank of japan will keep a close watch on exchange rates in line with the paris accord he added
the issue of land loss is a matter of major concern to the peking leadership which announced earlier this month that china will issue nationwide quotas for conversion of grain land for the first time this year
media general incs chairman d
bank of england invites borrowing at 10 pct
but miners union chief simon reyes told reporters the strike had nothing to do with subversion and was to press for more government investment in comibol
signet banking corp regular dividend
dollar hits record low of 14978 yen tokyo dealers
general electric co plc gecll gec declined comment on rumours on the london stock market that it is planning another purchase in the us medical equipment field in addition to its existing us subsidiary picker international inc a gec spokesman said that it is company policy not to comment on acquisition rumours
pryor serves on both the senate finance and agriculture committees
the decision to file for bankruptcy follows a court decision that it had to post an 11 billion dlr bond to continue its court battles with pennzoil co pzl one head trader at a us securities house said i dont want to be obstructive but there genuinely is no market in texaco bonds at the moment
in 1986 morris earned 620 dlrs a share
chapman also said it also plans to negotiate settelment and discharge of a substantial portion of its accounts payable and settlement of certain litigation
at the signing in new york last friday finance minister gustavo petricioli sounded a warning to the recalcitrant banks
terms of trade are the difference between import and export price indexes
it said underwriters may include merrill lynch pierce fenner and smith inc salomon brothers inc dean witter reynolds inc or shearson lehman brothers inc
asked about the american soybean associations request for some form of income support amstutz said the competitive problem is the most severe he said usda is still studying the situation and no resolution has yet been found
us defense officials told yesterday that kuwait had decided for at least the time being not to accept a us offer to use american warships to escort its tankers in the gulf where both iran and iraq have been attacking shipping
this compared with a two pct growth forecast made by the wifo last december
it raises the specter of additional consolidation in the industry and that is what is boosting the other oils analyst rosario ilacqua of lf rothschild said
allied stores corp a subsidiary of campeau corp was acquired by acquired by the canadian developer last year
asked whether he believed the markets would test the paris currency accord stoltenberg did not comment specifically but noted that much of what had been discussed in paris had not been published
charter oak partners a connecticut investment partnership said it raised its stake in facet enterprises inc to 480000 shares or 96 pct of the total outstanding common stock from 300000 shares or 60 pct
italian treasury bill offer meets mixed demand
syndication of the loan is expected to start soon and it should be signed in shanghai next month
todays meeting set to begin at 1500 est 2000 gmt was scheduled at the request of the exporters the aide said
hutton lbo extends expiration for 35 dlr shr offer for purolator to april 6 from today
taiwans foreign exchange reserves hit a new high of more than 51 billion us dlrs on march 4 compared with 50 billion in mid february and 251 billion a year earlier the central bank said
we cannot allow it to be jeopardized by unfair trading practices reagan added in the statement from his california vacation home at santa barbara
itj and international digital communications planning inc idc in which both cable and wireless plc cawll and pacific telesis group pacn own 20 pct stakes are set to merge into a new entity to compete against kokusai denshin denwa co ltd kdd the ministry of posts and telecommunications has urged the two rival firms to merge so kdd would have only a single competitor
jamaica has put a cap on its 35 billion dlr foreign debt and will reduce its obligations by 300 mln dlrs this year prime minister edward seaga said
french official reserves rose 1273 billion francs to 38868 billion francs at the end of february from 37595 billion at the end of january the finance ministry said
on the fiscal side yeutter said the budget deficit is still our biggest problem and there has not been enough progress toward reducing that deficit
unadjusted the february deficit was 24 billion francs and the two month cumulative deficit 81 billion the ministry said in a statement
the dollar drifted down to end one pfennig lower after a lacklustre session held in limits by the lack of concrete news from the group of seven meeting and comments on the edge of the washington imf world bank meeting
before seasonal adjustment the index for finished goods stood at 2923 over its 1967 base of 100
south african year on year broadly defined m 3 money supply growth slowed to 862 pct in january from 932 pct in december reserve bank figures show
but justice had said in an earlier filing with the icc that it wanted the agency to move slowly on the plan and to turn down greyhounds request to begin operating trailways immediately
gros said he will also formally ask the banks for a 90 day rollover of some 96 billion dlrs of debt which originally matured in 1986 and is now due to be repaid on april 15
weinberger said the platform had been used as a military base by iran and that the attack responded to an iranian silkworm missile strike on the us flagged kuwaiti tanker sea isle city on friday
the brazil announcement came later he said
yr ended march 31 shr 378 cents vs 307 final div 13 cents vs 11 making yr 24 vs 22 net 6058 mln dlrs vs 4742 mln turnover 150 billion vs 156 billion other income 1684 mln vs 373 mln shrs 16171 mln vs 15419 mln
as rumors circulated through grain markets today that the soviet union has purchased an additional 15 mln tonnes of us corn industry and government sources noted a number of factors that make soviet buying of us corn likely
the offer is also subject to a minimum 4425 mln shares or 51 pct of the outstanding shares being tendered
the banks share in the syndicate will be cut to 738 pct from 74 pct from april
the new tariffs to go into effect on april 17 are in retaliation for japans failure to adhere to an agreement to end dumping semiconductors in world markets at below cost and to open its home market to us semiconductor shipments
but dealers said they fear regulators may insist on an airtight netting agreement that is impossible to design
they sold a net 153 mln dlrs of stocks down from 681 mln in the previous month
china closes second round of offshore oil bids
lower money market rates achieved by widening short and long term interest rate differentials also encouraged investors to re invest funds parked in liquid accounts mueller said
twenty three pct of sudans total foreign debt is owed to members of the paris club the diplomats said
as long as its a basic material we consider it still just a processed version of the basic agricultural commodity sims said in a telephone interview
the bank is widely believed to be concerned about preventing a single market maker from cornering a stock to drive the price up
we think we can try to get a little part of their roost he said
us roastings of green coffee in the week ended april 4 were about 275000 60 kilo bags including that used for soluble production compared with 215000 bags in the corresponding week of last year and about 320000 bags in the week ended march 28 george gordon paton and co inc reported
although ashland petroleum and superamerica a retail marketing operation are having a difficult quarter the companys valvoline ashland chemical and coal businesses are expected to report good results for the quarter ended march 31
usda estimates 1986 87 orange juice yield at 150 gals per box from florida crop
treasury secretary james baker and one of his top aides assistant secretary david mulford said last week there was no target for the dollar a statement that sent the yen soaring against the dollar despite massive central bank intervention
japan sets aside yen funds to prevent dlr fall
analysts said such a merger would be costly and complicated
israel minister sees increased exports to us 
oper shr three cts vs one ct oper net 210000 vs 67000 revs 10252000 vs 8929000 avg shrs 7933000 vs 8553000 six mths oper shr five cts vs two cts oper net 420000 vs 133000 revs 203 mln vs 171 mln avg shrs 7952000 vs 8551000 note 1987 earnings exclude gain from utilization of tax loss carryforwards of 125000 dlrs or one ct a share in the quarter and 150000 dlrs or two cts a share for the six months
the cost of maintaining such a stock can be high and it will be a real messy business for the government and the trade if it ever occurs an industry source said
methyl chloride is an integral part of silicone production
chiles gross domestic product rose 57 pct last year to 188 billion dollars compared to a 24 pct rise in the previous year the central bank said
the platinum coins would be made in four weights but the silver coin would be of one ounce weight
the paper said the profit margin of mills in china fell to 47 pct last year from 1187 pct in 1980
market participation by cuba suggests that its crop could be close to last years 73 mln tonnes
the cross field allowance will mainly benefit participators in those fields which have no prt liability the report said adding that the timing of development of such fields may be advanced
piosec technology ltd said it exchanged 45 mln common shares for 21 pct of privately owned alliance semiconductor corp of santa clara calif
cbc which is the holding company which owns cookevilles citizens bank said it has signed an agreement which would merge cbc with union which has 22 billion dlrs in assets
the goal of trade legislation was to make our trade policy stronger without violating our international trade agreements he said
seasonal variation brought bank notes in circulation up 190 mln guilders to 297 billion guilders
fed governor seger sees currency stability
floods in early february caused extensive damage in villa rica whose coffee cooperative exported 59960 quintales last year according to the state controlled coffee organisation
the private sector still feels inhibited he said
underwoods plc said it had not been possible to agree terms on a bid to be made by woolworth holdings plc wlukl during talks
sosnoff said he rejected all of the proposals
a second prospectus relates to a planned public sale of four mln common shares which cdc sold privately to an unidentified investor in december
the statement confirmed released preliminary earnings figures the company released in february
freddie mac adjusts short term discount rates
the bundesbanks gross currency reserves rose 300 mln marks in the last week of march to 1049 billion marks the bundesbank said in a statement
currency analysts believe the paris agreement set secret short term target ranges for their currencies with a specific agreement to defend those bands with intervention
the house today approved a bill requiring the reagan administration to report to congress on its mideast gulf policy but not restricting its actions
uk money market given further 663 mln stg help
delta air lines inc said it completed the acquisition of western air lines inc this morning
the kharg terminal attacked about 135 times since august 1985 was last raided in january
a lack of aircraft imports in february should also contribute on the trade account although it is still likely to remain in deficit the economists said
o licht
champion will use the proceeds to pay down long term debt it said
treasury secretary james baker the reagan administrations chief economic architect has preferred to use the so called group of five industrial countries or sometimes seven as a forum to work out cooperative agreements on currency and other economic matters
super rite foods inc srfi sets qtrly payout
cullen frost bankers inc said it will defer paying a cash dividend for the next 12 months due to the economic slump in the texas economy
a month ago nippon investors service inc nis assigned an aaa rating to financial securities assurance inc a us firm that gives financial guarantees on corporate securities
atari said the debentures will not be available for us resal until at least 90 days after completion of the offering abroad
the official press had estimated the 1986 87 sugar crop november march at 482 mln tonnes down from 52 mln a year earlier and domestic consumption at six mln tonnes a year
he must have missed the last two years of federal tax reform by sleeping as soundly as rip van winkle stark said
chief inspector of mines redzuan sumun told that excess output of some 3000 tonnes after exports of 28500 in the one year quota period would be kept in the national stock
debenture holders can convert the securities into the companys common stock at 12976 dlrs per share until the close of business on april 17 patten said
golden nugget inc gng 4th qtr loss
she talks and i listen but i dont necessarily agree monsod said a firm commitment from the banks on bridging the financing gap would have aided the governments pump priming program and 1987 92 medium term development plan
royal gold and silver corp 1st qtr net
transco exploration partners ltd exp in payout
the sources said italy which refused to join the paris pact was invited back by treasury secretary james baker
turkeys trade deficit rose to 365 billion dlrs in 1986 from 339 billion in 1985 following increased imports from western countries figures from the state statistics institute show
for all of last year it earned 2506000 dlrs on sales of 654 mln dlrs
theres no doubt that the cairns group is being seen as a third force to be reckoned with both inside the general agreement on tariffs and trade and in other international trade negotiations he said
giving a 300 mln dlr loan in balance of payments support the bank said it will monitor progress on implementation of the governments trade reform measures and supported its determination to promote efficiency and longer term growth
sen
the report said the firmness in oil prices was likely to continue in the short term
interco establishes 50 mln dlr revolving facility
there were indications of improvement in the huge imbalance between the volume of goods imported to the united states and those shipped abroad
nestle to acquire nabisco canada businesses
licht sees stagnant european beet area
japan today announced another mammoth monthly trade surplus that economists said would be sure to intensify already mounting pressure on the country for action
the us agriculture department projected an average yield of 150 gallons of frozen concentrated orange juice per box 420 degree brix equivalent from floridas 1986 87 crop
they have set this signal and indicated they could maybe lower market rates even further but not with the discount or lombard winfried hutmann chief economist of schroeder munchmeyer hengst investment gmbh said
if analysts unofficial estimates prove correct then the drop in us corn acreage will be the largest since 1983 when farmers idled 22 mln acres in the payment in kind program
the board meeting looks set to end today a day earlier than scheduled delegates said
analysts said the markets euphoria was simply a reflection of supply and demand
terms werent disclosed
if you dont get those seven billion dlrs there is no plan
he said the government has finalised an agreement with edfman sugar ltd under which edfman will hold a buffer stock on the governments behalf of 20000 tonnes against the 45000 tonne buffer stock usually held by the department
corn eight pct planted vs 64 pct a year ago and 51 pct average
there is nothing apparent from the change said william oneill director of futures research at elders futures inc
brazils labour troubles eased a little today as the authorities announced they were withdrawing troops from the countrys main oil installations occupied three days ago
malaysia cuts gazetted rubber price
wessanen now has 15 separate businesses in the us out of a total of 62 world wide
note companys full name is british telecommunications plc btyl third quarter turnover 240 billion stg vs 211 billion making 701 billion vs 616 billion for nine months
both plants are far from state of the art for car manufacturing sites and amc has a history of poor labor relations at each
krung thai bank to take over sayam bank
the company said the first quarter will be adversely affected by the consolidation effort
moodys investors services inc said it downgraded 200 mln dlrs of long term debt of zenith electronics corp
it said the education project aims to increase literacy and school enrollment rates through curriculum reform teacher training parental participation and school construction
he said the 12 bank advisory committee sent telexes of the accord to the countrys 483 creditor banks and he expected documentation and agreement from all of them by july
elders ixl ltd elxas said the canadian government approved its bid for carling okeefe ltd elders earlier announced it was buying 109 mln shares or 501 pct of carling from the canadian subsidiary of rothmans international plc rotl for 18 canadian dlrs each
shr 35 cts vs 29 cts net 3732000 vs 3131000 assets 109 billion vs 8612 mln deposits 8177 mlnvs 7057 mln loans 7041 mln vs 5534 mln note 1986 results restated to reflect acquisition of united banks corp
tajon ranch co trc 4th qtr net
the bank dealers said the central bank which had previously bought us dollars heavily sold at least 11 billion us dlrs in the past two weeks to meet commercial demand
but new ideas take time to devise and implement and brazils suspension of interest payments shows that the aptience of debtors might be wearing thin
they are now at 10 pct
other sources said they expect the dialogue to continue
if calculated on the last 12 months the differential came to 39 pct the statement said adding the tendency is therefore one of a lessening of the inflation gap with our main trading partner
the bonus was made to international multifoods corp and will paid to the exporter in the form of commodities from ccc stocks the department said
shr loss 160 dlrs vs loss 45 cts net loss 9883000 vs loss 2744000 revs 1309000 vs 3289000 nine mths shr loss 229 dlrs vs loss 98 cts net loss 141 mln vs loss 6008000 revs 4577000 vs 119 mln note current periods include loss of 75 mln dlrs from discontinued operations
fees are 3 4 pct for selling and 5 8 pct for management and underwriting combined with 1 8 pct praecipium
recent us oil demand off 26 pct from year ago
p and o deferred shares were last quoted at 629p down 1p since yesterday after the company reported 1986 pre tax profit of 1741 mln stg against 1256 mln for 1985
bankamerica corp said it agreed to sell bankhaus centrale credit ag its german consumer banking subsidiary and german credit card operations to banco de santander of spain
duquesne first mortgage bonds and debentures were lowered to dp 9 middle bbb from dp 8 high bbb preferred stock rating to dp 10 low bbb from dp 9 and preference stock to dp 11 high bb from dp 10
niskanen also said the canadian government is vulnerable to a resurgence of economic nationalism which could restrict us exports to canada
it could not spend its way out of trouble because this would increase the balance of payments deficit and domestic inflation
he said polish products were not competitive and their quality was too low
tpa of america inc tps 4th qtr loss
owens and minor inc obod raises qtly dividend
the repurchase offer managed by lazard freres et cie opens april 10 and closes april 27
the wheat flour purchases complete the export enhancement program initiative announced in april 1986 it said
sterling was also supported by signs of a weakening in the west german and japanese economies where growth for 1987 is trailing behind the three pct forecast for the uk recent opinion polls showing britains ruling conservative party ahead of opposition parties in popularity have also supported the pound
amoco corp said it raised the contract price it will pay for most grades of crude oil by 50 cts a barrel effective today
the group said its representatives had met with fairchild industries officials to inform them that they do not believe management has been successful in enhancing or protecting shareholder values it said it was considering the additional share purchases to enable it to assert a greater degree of influence over the future management and policies of the issuer it said a decision on the specific level of share ownership it would seek depended on market prices future changes in management policies available financial resources and other factors
negotiations began in december and unions are hopeful they may conclude by early april ahead of the traditional holiday period in june
vaalian balance of payments in deficit in may
it said europharmaceutical currently does not have the resources to make the payments under the distribution agreement or fund the studies necessary to obtain marketing approval from the fda
urs corp urs 1st qtr jan 31 net
it said corn producers will receive about 515 mln dlrs and sorghum producers about 85 mln dlrs
shr profit nil vs loss one ct net profit 1136 vs loss 42840 revs 1490718 vs 1151176 nine mths shr profit three cts vs profit five cts net profit 89900 vs profit 150523 revs 4520393 vs 4078441
miller said he was concerned the fed might overreact to signals of rising inflation by tightening credit a move he said could have political consequences the white house budget chief appeared to be referring to the effect an economic slowdown could have on the presidential and congressional elections next year
demand for platinum could reach 34 mln ounces by 1991 compared with an estimated offtake of 288 mln in 1986 chris clark platinum marketing director for johnson matthey plc said
they creditors asked for the maximum amount and we offered the minimum said one banking source reacting to reports from london that creditors were hoping for larger repayments
so with australians you win some and you lose some
bnp plans 100 mln hk dlr cd issue
the bank report was especially critical of indonesias drive to plant sugar saying domestic sugar prices are double the world average because of inefficiencies and the country would save money by importing the commodity
belgian state loan raises 1688 billion francs
april crude closed 24 cts higher to 1775 dlrs
the united states is considering the request to temporarily transfer kuwaiti ships to american registration but such a move could create insurance and other problems the officials said
henderson land development co ltd hndhhk 
also traders point out the number of us firms operating in london has increased sharply over the past year as has the number of european and asian banks which trade us government securities
vontobel noted that many borrowers already came to the market with ratings from the major us agencies which were readily available to professionals through specialised information systems
but market watchers were unsure what affect the move will have on japanese investors who have been snapping up canadian bonds at a record clip because of their traditional preference for long term financings
the company last paid 643 cts a share on the issue in august 1986
it said surcharges on shipments of all break bulk cargoes to non iraqi arab ports would be reduced to 30 pct from 45 a conference spokesman declined to say why the move was taken at a time of heightened tension in the gulf
key centurion keyc to buy bank of buckhannon
the outbreak has forced the government to ban the use of 57 insecticides on rice because it was believed the wereng are now resistant to these varieties and to use lower yielding more resistant rice types
woodside earlier reported attributable net loss rose to 1714 mln dlrs in 1986 from 873 mln in 1985 although group revenue rose to 22084 mln from 17350 mln
westlb international said it plans to expand its range of services for private clients
gdp grew in line with the average growth rate since 1980 and the inflation rate was the lowest since 1969 70 according to a government economic survey
the main units will resume operation next week but the hydrocracker will be closed for an unspecified period
all exports must be completed by september 30 1987
these are currently frozen by an effective moratorium on repayments
ceasars world says it is studying unsolicited 28 dlr per shr offer by martin sosnoff
in the last two years the value of the australian sharemarket has leapt 118 pct with turnover value up 152 pct to 3124 billion dlrs in the year to june 30 1986
the payout of existing preferred shareholders will be completed just before next months initial distribution to common shareholders continental added
the west german government expressed support for the us position in opposing the proposed european community tax on vegetable oils and fats a us embassy spokesman said
some said that the britannia had come too late with the canadian maple leaf the american eagle and other gold coins already well established
about 80 pct of the surplus will come from the islands trade with the united states
doumeng last month said the agreement was to exchange one billion dollars worth of goods
imports were set to rise by 45 pct this year compared with four pct in 1986 in volume terms the cpb said
on balance this is the best new idea i have seen said rep
oscar mayer and co inc a unit of philip morris cos inc said it will redeem all of its outstanding 785 pct debentures due january 15 1996 on april 30 1987 at 101450 dlrs plus accrued interest for each 1000 dlrs prinicpal amount
the company said the committee of its unsecured creditgors and the committee of its equity security holders have approved the terms of the plan
us treasury secretary james baker said over the weekend that the paris pact did not encompass fixed tragets for the dollar
dan glickman d kan chairman of the house agriculture subcommittee on wheat feedgrains and soybeans
this deal was rated a 2 by moodys and aa minus by standard and poors
a group of affiliated investment firms led by bermuda based fidelity international ltd and boston based fmr corp told the securities and exchange commission it raised its stake in mcgill manufacturing co inc
however there are considerable indications that farmers are reluctant to plant cane because its economic return is not as good as that of other crops
he said the market interpreted this as indicating the us would favour a weaker dollar and it had little intention of intervening to support the currency
the 1987 88 season for barley begins today
supermarkets general sgl gets unsolicited bid
the south african reserve bank confirming previous estimates said real gross domestic product in the 1986 fourth quarter grew at a seasonally adjusted annual rate of 47 pct versus 46 pct in the third quarter and 13 pct in the 1985 final quarter
joint venture was organized in september 1986 to establish leasing joint ventures with manufacturers and vendors of computer equipment
mulford defended the us strategy for handling the debt crisis and added additional steps like development by commercial banks of a menu of options to support debtor reform can be undertaken
affiliated is the parent company of globe newspaper co publisher of the boston globe
asked about the prospect of a priority for agriculture in the negotiations he said one has to be politically realistic if there is any chance of getting it agricultural trade reform done in two to three years its going to have to be as part of a larger package
transco said its gas pipeline delivered more than 12 trillion cubic feet last year and its marketing affiliate sold an average of 16 billion cubic feet of gas per day
the question is whether through cooperative actions between our governments we can reduce the trade imbalance or whether congress takes action to reduce it through protectionist legislation he said
these chances seem to me to rest critically on the expectation that the current configuration of interest rates and the monetary policies behind them will assure smooth financing of current account imbalances in the months ahead gleske said past experience of currency adjustments had learned that markets are inclined to be impatient and will thus tend to overshoot he said this would seem to be unnecessary and should be avoided if at all possible monetary policies can help achieve this but only if markets believe that pledged changes in fiscal policies will lead to balanced international payments he said
last februarys figure had also been hit by the import of two passenger aircraft
banking center tbcx to make acquisition
cip canadas second largest newsprint producer recently launched a 366 mln canadian dlr newsprint mill at gold river british columbia which is due begin producing 230000 metric tonnes per year by fall of 1989
the loan will pay 1 8 point over london interbank offered rates libor throughout the whole of its life
dow dow amends resins price increase
right now we are trying to solidify the group and bring it together under one group ghirardi said
supply side measures are critical there is a specific range of consumer and agricultural goods where they have an extremely restrictive regime which is wholly unjustified he said
one analyst speculated an offer from gaf would be forthcoming shortly
cos 1st fl yr of operation
conrac corp whose board has rejected a 25 dlr a share tender offer from mark iv industries inc iv said it is exploring alternatives such as a restructuring leveraged buyout or takeover of the company
uk money market shortage forecast at 250 mln stg
national is the manager of nursing home properties owned by southmark
last march dome suspended payment of dividends on all preferred shares until june 1 1987
however there were no reports that a formal crisis meeting of market makers such as that called in december last year during the perpetual frn market collapse was on the cards
in a key concession made at the urging of ways and means committee chairman dan rostenkowski d il the trade subcommittee backed off a requirement that would have forced reagan to impose automatically quotas or tariffs on imports from countries that engage in unfair trade practices
the warrants are exercisable from may 19 1987 until april 9 1992
allisons place inc alls 4th qtr net
employment in manufacturing industries fell 380000 from a year earlier to 1430 mln including 183 mln employed in the textile industry down 190000 from a year earlier and 106 mln in transport industries such as carmakers and shipbuilders down 170000
in the full year 1986 imports rose 306 billion dlrs or nine pct to 3695 billion dlrs
boise homes sold commercial and residential prefabricated structures modulaire said
deltaus corp dlta year
the new accounting policy is not expected to adversely affect working capital position future cash flows or the companys ability to conduct ongoing business operations it said
oper shr 32 cts vs 37 cts oper net 189 mln vs 216 mln revs 3521 mln vs 3230 mln note 1987 net excludes extraordinary gain of 28 mln dlrs or five cts shr from sale of surplus property
it said the offering was a new issue and not a reopening as stated yesterday
chevron corp said it sold 46 mln shares of unc inc common stock on june 15 leaving it with 14 mln unc common shares or 84 pct of the total
cri insured mortgage investments ii inc said it expects to distribute about 155 to 165 dlrs per share from operations for all of 1987 and about 168 to 175 dlrs including the proceeds of the gain from the sale of the brighton meadows mortgage through january 31
the company said resolution of this disagreement with its auditors came as a result of securities and exchange commission involvement
belgium is launching a euro commercial paper program for an unlimited amount with the issue planned immediately after signing in mid may first chicago ltd said as arranger
nmc acting general manager john rubibira said tanzania has only 56000 tonnes of silo storage capacity concentrated in dar es salaam arusha in the north and iringa in central tanzania
bruce wilkinson president of the company said the charges to the companys third quarter earnings for the period ending march 31 would significantly impact third quarter results but would not affect the companys cash position
a spokesman for the finance ministry said no exact date had yet been set for the privatisation which the government has tabled for the second half of march
the closing date is expected to be may 1 1987
french farmers plan to cut maize plantings
by contrast however the federal government was able to reduce its credit drawdown at the central bank by 900 mln marks to 900 mln
analysts said six individual swiss noteholders who initiated legal action against dome to recover debt of 408500 dlrs will also be pressed to adopt a more lenient stand by the 1986 results
qtly div 87 cts vs 87 cts pay feb 17 record jan 20
the problem is how to do it the shanghai official said a rise in grain prices might also affect the prices of hundreds of food products made with grain and consumed by city residents
court approves ltv qltv bank credit agreement
the seven year issue has an indicated coupon of 4 1 8 to 4 5 8 pct and is priced at par
taiwan shipbuilder looks for japanese ventures
sunter acquisition corp and sunter holdings corp were formed by first boston and allegheny
a sharp fall in share prices in the early 1980s prompted investors to hold on to shares hoping for an eventual recovery
1986 third quarter net excludes gains from discontinued operations of 12 mln dlrs or four cts a gain from sale of discontinued operations of 285 mln dlrs or 106 dlrs and a charge from early repayment of debt of 58 mln dlrs or 22 cts
nl industries inc nl 3rd qtr net
the question is who would take it he added
the company said it also asked the court to award jwt unspecified damages
nv hoogovens 1986 net profit 1546 mln guilders vs 2788 mln official
royal dutch shell us earnings sharply lower
administration opposition to the deal also stemmed from ongoing trade tensions between the united states and japan officials said
they said he showed skill in reducing ozark airlines costs when he merged it into twa last year and he might be a necessary ingredient for a merger to work
sichuan braced to fight drought
but if the pipeline is down more than 10 days it will be difficult to make up without prorationing and we would not like to proration this pipeline if we dont have to the basin pipeline is jointly owned by atlantic richfield corp arc shell oil co a subsidiary of the royal dutch shell group rd and texaco inc tx which is the pipelines operator
shares of continental gummi werke ag congf opened eight marks stronger in an otherwise mixed frankfurt market and dealers attributed the trend to favourable press reports about a new tyre system the company is developing
us 4 year note average yield 679 pct stop 679 pct awarded at high yield 95 pct
geodome said a new ore zone discovered last summer is not included in reserve calculations
merrill lynch capital markets and salomon brothers inc co managed the deal
however the official slaid the usda replied only that it would consider the request
but dealers said the bundesbank was unlikely to ease credit policies at the moment
this resulted in falling utilisation rates at big modenised mills
many futures commission merchants predicted sell orders would accelerate in the event the price approached the bottom limit
qtly div 40 cts vs 40 cts prior pay june 10 record may 27
asked his reaction to the gnp report during a white house photo session reagan replied it wasnt all that bad
asked about the report by subcommittee members herrington said various proposals were under consideration and would be debated within the administration to determine which would have the most benefits at the least cost
the developed market economy countries have slowed down output growth thereby drying up markets for the commodity exports of african countries mamman said the world bank estimated 353 billion dlrs a year would be needed over the next five years for the african continent to be able to achieve a gross domestic product growth gdp rate of three to four pct by 1990
the central bank early this week also announced that it had bought 494 pct stake in another troubled commercial bank perwira habib bank malaysia bhd after the latter raised its capital to 405 mln ringgit from 105 in mid january this year
kenyan farmers are anxiously awaiting the arrival of the long rainy season which is due to start about now
federal industries ltd said it launched a 40 mln canadian dlr eurobond issue for five years bearing a coupon of 9 1 4 pct
in 1987 a total manufacturing activities will generate about 235 mln dlrs in revenues and engineering and construction about 200 mln dlrs he said adding that defense products operations should be a major contributor to earnings
iraq is currently producing around two mln barrels per day compared to its second half quota of 154 mln they said
the forum members include westinghouse and general electric but niedermeyers company is the only wood products firm on the membership roster
regal international rgl ups bell bpsiq bid
det oestasiatiske kompagni a s east asiatic co 
the countrys oil import bill however fell 23 pct in the first quarter due to lower oil prices
in the netherlands the cost of living is expected to decrease by 15 pct at a gnp growth rate of two pct the dutch central planning agency said in its 1987 forecast last month
the pound was seen staying between 290 and 293 marks for the next days dealers said
greenwood resources inc said it has sold its 4300000 common share majority holding in new london oil ltd of london to an affiliate of guinness peat group plc of london and an affiliate of sidro sa of belgium for a total of 17000000 dlrs in cash
for years the softly spoken economist has been warning in speech after speech that excessive money supply growth would eventually lead to rising prices
about 8000 black miners returned to work after a week long industrial action at south africas largest gold mine mine owner anglo american corp of south africa ltd anglj said
there also is a 1 8 pct praecipuum
i dont think its a tax increase is a very good idea and im quite confident that president reagan doesnt think its a very good idea baker said in an interview on cable news networks moneyline television program
american telephone and telegraph co and philips telecommunications bv apt would hold 36 pct through direct and indirect holdings in frances cie generale de constructions telephoniques if a joint bid with french partners for the soon to be privatised firm succeeds a director at one of the partner firms said
fluorocarbon corp fcbn qtly dividend
they said the fed does not have a much of an adding need this week and may wait until tomorrow or monday before supplying reserves
the bank has provided the system with around 171 billion stg assistance so far today
american eagle petroleums ltd year loss
northern states power co nsp votes quarterly
take or pay contracts oblige pipelines to pay producers for gas even if delivery is not taken by its customers
usda accepts bonus wheat offers for china
usda reports 350000 tonnes corn to unknown
the trading gains and lower acquisition costs gave exxon more of a spread in its refinery operations and added to earnings gains from refining and marketing
i would say that what has happened to the yen in the past several weeks was not outside the range we agreed to in the discussions in paris miyazawa told a press conference following the group of seven meeting here
economists would also not rule out an outright bill pass early this afternoon
qtly div 65 1 2 cts vs 65 1 2 cts prior pay april 15 record march 19
kerridge said the board met yesterday to discuss the merger but decided against it
metropolitan said it may acquire an option on or may buy some or all of the metex shares owned by william hack a metex director who together with this wife holds 149750 of the companys common shares or 114 pct of the total
the dutch finance ministry said it accepted bids totalling 325 billion guilders on its 625 pct bullet bond due 1995 which it priced at 1008 pct at tender today for an effective yield of 612 pct
during that period no zambian copper had been shipped through zimbabwe to the mozambican port of beira the only other available route which avoids south africa mapara said
the unit makes custom gears for industrial use and had sales of 84 mln dlrs in its oct
money market sources said the market had begun to doubt that a widely expected drop in bank base lending rates to 95 pct from the present 100 pct was really on the cards
north carolina federal ncfs raises prime rate
it said the institution is 50 pct owned by arab interests and has set up a wholly owned commercial banking branch in hong kong but gave no more details
shad said he opposes proposals to require those attempting takeovers to file a statement on the impact the takeover would have on the communities involved
funaro was in britain on the first leg of a tour of european capitals to explain the motives of the brazilian debt moratorium and to seek support for intiatives to improve capital flows between developed countries and third world debtor nations
syndication for elders ixl ltds elxas 100 mln australian dlr note issuance facility has been completed arranger westpac finance asia ltd said
ameritrust corp of ohio also raised its prime lending rate to 7 3 4 pct from 7 1 2 effective tomorrow
with domestic demand of around 12000 barrels per day bpd and prospects of production of over 100000 bpd by late 1991 png would become an ecuador level crude exporter fesharaki said
an additional 246000 tonnes of durum wheat are still available to algeria under the export enhancement program
year ago oper includes charges of 278 mln resulting from allocation of the purchase price of revlons businesses to inventory and 71 mln for restructuring costs
water cwtr 
cuba sugar crop seen at least same as last year
nz december quarter retail sales fall 132 pct
exports in 1986 87 season at 1025 vs 1025 last month
the sanctions were approved by the cabinet soon after colonel sitivene rabuka staged his second coup on september 25
early this year the commerce ministry quietly told foreign companies interested in selling aircraft ships drilling rigs and railway equipment to india that they stood a better chance if they bought indian goods or services in return the trade sources said
it also called for a major review of the commissioned bank system which increases the cost of issuing domestic bonds and for deregulation of private placements they said
under the pact japan pledged to stop dumping microchips in the us and asia and open its domestic market to us semiconductors
nippon shokubai kagaku kogyo is issuing a 80 mln dlr equity warrant eurobond due april 30 1992 paying an indicated coupon of 2 1 8 pct and priced at par lead manager nomura international ltd said
europeans in favour of the tax say it would be to their advantage economically but that is not correct because we would hit back nspa chairman jack reed said
as the dollar dropped to post world war ii lows against the yen today foreign exchange traders said the bank of japan federal reserve board and bank of england intervened in the markets on behalf of the us currency
twa said it does not intend to seek control of usair acquire more stock at this time
bsn bsn has purchased macgregor mgs stock
he said the bank which in the past has concentrated on making loans that assist the basic underpinnings in the developing world such as dams roads and sewers will increasingly make assistance available for economic reform
the company also recently listed its shares on the tokyo stock exchange
certain consumers are concerned that differentials included in the draft buffer stock package are out of line with market realities consumer delegates said
national data on discount window borrowings are due to be released at 1630 est 2130 gmt
trading in the beneficial interests which are listed on the new york stock exchange will cease after today
the buying began when the dollar was at about 14960 yen and helped drive the us currency up to around 150 he said
banking sources said syndication for the increase was proceeding very well so far although the syndication would not necessarily be confined to banks participating in the original group
french free market cereal export bids detailed
the significance that retreat will emerge from the terms of the bundesbanks next tender for a securities repurchase pact on tuesday and its result on wednesday money market economists said
the warrant will be for a term of two years
the cso stressed that figures for invisible transactions particularly for the most recent quarters are liable to substantial revisions as later information becomes available
the dramatic drop in energy prices in early 1986 reverses much of the progress the company has made in the two previous years dome chairman j
us willing to talk to moscow on wheat price
but few such specialists are going to sit back and wait until the action begins
kleer vu industries to sell cosmetics unit
we are proceeding with our strategic plans he said
the underlying rate of inflation was now two pct not the reported negative inflation rates last year and west germany was affected more than before by exchange rate developments
ec official faults us trade bill
perhaps they were jealous that for the first time a chinese entity has taken the sole lead position for a chinese issue he said
the company had sales last year of 256000 dlrs
the company said winter is traditionally its slowest season
1986 year net includes pretax gain 172 mln dlrs from sale of foreign subsidiary
micron technology inc said it expects to record a net loss of about 11 mln dlrs in the second quarter compared to a loss of 97 mln dlrs in the first quarter and 98 mln dlrs in the year ago second quarter
the share analysts say vw will have to dig into reserves in order to maintain the disclosed 1986 profit at 1985 levels
general electric co is raising 250 mln dlrs via an offering of notes due 1992 with a seven pct coupon and par pricing said lead manager kidder peabody and co inc
time inc said its wholly owned subsidiary time life overseas finance corp nv has called for redemption of all 100 mln dlrs in principal amount of its 10 3 4 pct guaranteed notes due january 26 1990
the international coffee organization ico executive board meeting scheduled for the end of this month has been delayed by one day and will now run from march 31 to april 2 and not march 30 to april 1 ico officials said
bank governor chang chi cheng told reporters the increase came mainly from the banks purchases of more than one billion us dlrs on the local interbank market between february 18 and march 4
bankers said the 1986 recovery in earnings stemmed partly from foreign exchange operations and trade finance
i dont exptect them to take it but it could put some interesting options in front of ual management said timothy pettee bear stearns and co analyst
more modest gnp growth of five pct for 1987 was also targeted tigrel said
diplomats said that conable was expected to press suharto and leading economic ministers to maintain the pace of policy change particularly in dismantling indonesias high cost protected economy
a san miguel spokesman declined comment
irt said conversion would be permitted at any time after 90 days after completion of the distribution of the debentures
italian industrial production fell 34 pct in january compared with the same month last year the national statistics institute istat said
4th qtr shr 14 cts vs 14 cts net 210000 vs 211000 revs 230000 vs 229000 year shr 56 cts vs 56 cts net 838000 vs 841000 revs 919000 vs 919000
coffee quotas were suspended in february last year when prices shot up on fears of a drought induced crop disaster in brazil
arab heavy dropped 10 cts to 1663 dlrs a barrel and dubai was off 12 cts to 1809 dlrs
shr 60 cts vs 57 cts net 1037 mln vs 965 mln revs 4725 mln vs 4341 mln avg shrs 1523 mln vs 1470 mln 12 mths shr 260 dlrs vs 244 dlrs net 3931 mln vs 3471 mln revs 179 billion vs 176 billion avg shrs 1509 mln vs 1422 mln
louvre accord vital to wgermany stoltenberg
venezuela will lend ecuador 50000 barrels per day of crude oil over the next few months to help it meet its export commitments energy and mines minister arturo hernandez grisanti said today
the government has said the land reform plan aims to distribute 97 mln hectares of land to poor peasants
on friday analyst daniel lee of drexel burnham lambert inc reiterated a recommendation of the stock focusing on increased comparable store sales and consistent annual earnings growth
garn a utah republican said i am talking about specific retribution on a company that endangers the security of their own country and ours
investcorp set up in 1982 specialises in buying companies and property in industrialised nations
general partners said it would set up voting trust arrangements pending review of its long form application for fcc approval of its acquisition of control of gencorps broadcasting subsidiary
mony real mym reports portfolio
ec sugar tender said to mark no change in policy
thai coffee exports rise in 1986
april illinois river ex chicago 160 pct bid offered 10 points higher at 170
regarding inter meeting policy adjustments the fomc minutes showed the members generally felt that policy implementation should be especially alert to the potential need for some firming of reserve conditions in this view the fomc said somewhat greater reserve restraint would be warranted if monetary growth did not slow in line with current expectations and there were concurrent indications of intensifying inflationary pressures against the background of stronger economic data
but we are not happy with the reagan administration he said
funaro said that during his recent trip to the us europe and japan to explain brazils decision last month to suspend interest payments on 68 billion dlrs of commercial debt he stressed the countrys commitment to growth
that fear has no basis in fact byrd said
insee changed its base year to 1980 from 1970 last month
national has about 153 mln shares outstanding
before seasonal adjustment permits rose to 135500 in september from 128000 in august
thailand has shipped 343 mln tonnes of rice in the year to date down from 368 mln a year ago
some 120 billion francs of the loan will be taken up by members of the issuing consortium comprising major belgian commercial banks and the remaining 30 billion by semi state owned financial institutions
it said the loan consists of a credit line to ljubljanska banka ljubljana lbl to finance a project expected to improve industrial competitiveness and reduce energy imports easing the countrys current balance of payments difficulties
kern said the budget would have to be analysed carefully in particular to see how exactly lawson planned to achieve the sharper than expected borrowing target cut before a one point base rate cut could be implemented
qtly div 50 cts vs 50 cts prior pay april 30 record march 31
cardis corp said it anticipates reporting a loss from continuing operations of approximately 177 mln dlrs on revenues of 228 mln dlrs for fiscal year 1986
minpeco lifts force majeure on zinc ingot shipments from cajamarquilla spokesman
landes and schwartz had reached an agreement in principle with the new york video tape service company on a 1250 dlr a share takeover proposal last september but subsequent merger talks broke down in october
official statements in recent weeks had indicated that the key psychological level of 150 yen was at the lower end of the authorities permissible range
bear stearns and ladenburg thalmann co managed the deal
the faster growth of imports compared with exports this year and last reflecting buoyant private consumption meant that the contribution of the foreign payments balance to gdp would shrink in both years
japans more flexible stance on tokyo stock exchange membership would also help deflect criticism he said
the sources said the loan agreed upon in principle last september during a visit to the united states by president corazon aquino had been held up by philippine government delays in fulfilling key conditions
bankamerica corp says it places 19 billion dlrs of brazilian loans on nonaccrual status
herrhausen said the grouping of holdings in the balance sheet in this was was not a first step to floating them off in a separate holding company
the revised unadjusted january index rose 05 pct from a year earlier after a one pct year on year december rise
duff and phelps upgrades philip morris mo 
the foodservice division which includes burger king arbys and tony romas had a pre tax operating loss of 296 mln dlrs in 1986 including the 340 mln dlr charge to restructure bojangles
oper shr profit 62 cts vs profit seven cts oper net profit 3492000 vs profit 401000 revs 628 mln vs 620 mln nine mths oper shr profit 126 dlrs vs loss 42 cts oper net profit 7131000 vs loss 2344000 revs 1903 mln vs 1800 mln note 1986 period ended september 28
the letter from gardner said he resigned the board because the merger agreement with hutton barred directors from soliciting new offers and he believes shareholders might get a better deal
cna income shares inc said it filed with the securities and exchange commission a registration statement covering a 30 mln dlr issue of convertible extendible notes due 1992
the area sown to soybeans this season was a record 37 to 38 mln hectares 108 to 138 pct higher than the 1985 86 record of 334 mln hectares
the two sides held inconclusive talks in miami on march 22 bankers said
invisible earnings rose to 677 billion from 509 billion while invisible spending climbed to 751 billion from 706 billion he said
the us treasurys weekly auction is expected to produce an average rate of 563 65 pct for three month bills and one of 559 61 pct for six month bills dealers said
the apt sat offer includes a provision for cgct to produce apt 5ess prx switching technology and adapt it to french standards
it noted that domestic demand for capital goods had been hit in recent months by the weakness of exports which had caused west german firms to scale back investment plans
keihanshin real estate co ltd is issuing a 25 mln dlr equity warrant eurobond due april 27 1992 paying an indicated coupon of 2 1 4 pct and priced at par lead manager daiwa europe ltd said
for the fourth quarter it reported earnings of 1188 mln dlrs including a gain of 286 mln dlrs for discontinued operations and 905 mln dlrs mainly for claims settlements
however there has been considerable resistance to the package partly because of some of the clauses it contains and partly because many small us regional banks do not want to increase their exposure to any latin american countries
the year ago period included a 22 mln dlr charge from a writedown of securities
the board declined to grant that permission
the company had previously announced plans to again adjourn the meeting following receipt of a renewed offer from lynch corp lgl yesterday
shr loss 34 cts vs loss 14 cts net loss 798000 vs loss 213000 revs 15 mln vs 15 mln year shr loss 61 cts vs loss 208 dlrs net loss 14 mln vs 10 mln revs 68 mln vs 60 mln note1986 net loss includes non recurring charges of 132000 dlrs and 270000 dlrs
federal reserve board chairman paul volcker said current data does not give a clear sign that the deterioration in the us trade balance has yet been reversed
argentine inflation rose 65 pct in february
shr 25 cts vs 26 cts net 2200000 vs 2100000 revs 8500000 vs 9600000 nine mths shr 77 cts vs 63 cts net 6900000 vs 4800000 revs 279 million vs 253 million
tokyo bids to stop chip row turning into trade war
in 1987 venezuela will be required to pay 250 mln dlrs instead of the 155 billion originally agreed
he said the bank would have to come back to congress later this year to discuss its capitalization needs
the company said unit sales of american tobaccos lucky strike filter line rose 20 pct last year which led to a gain for he lucky franchise
gruen marketing gmc sees year net off
it is essential that wheat moves by the most economic mode to the nearest efficient port irrespective of the state in which the wheat is grown or stored it said
libya is reported to have recently bought two cargoes of white sugar from operators at around 229 230 dlrs a tonne cost and freight traders said
laroche said he may obtain a short term loan of up to one mln dlrs from amoskeag bank to help finance the purchase of shares under the offer bearing interest of up to nine pct
total lard usage in the 1986 87 marketing season which began october 1 amounted to 1252 mln lbs vs 1856 mln lbs in the year ago period
they said there were rumors the stock was under accumulation and speculation abounded the company would soon receive an offer
australia tug crews bar foreign container ships
the farmers home administration the us agriculture departments farm lending arm could lose about seven billion dlrs in outstanding principal on its severely delinquent borrowers or about one fourth of its farm loan portfolio the general accounting office gao said
the ministry said updated forecasts would be prepared before the autumn to serve as the basis for the 1988 budget which the government is now preparing for presentation in september
last year production was 174 mln tonnes
all the shares are being offered by national heritage which will trade under symbol nher on nasdaq through lead underwriter drexel burnham lambert inc
icahn controlled trans world airlines inc twa made a conditional offer to acquire usair for 52 dlrs per share a bid that was rejected by the usair board
credit foncier de france said it will issue on wednesday around 500 mln francs worth of specialised financial institution bonds bifs this second issue of eight pct bifs maturing on december 23 1993 are identical to the 535 mln franc issue of bonds issued last month
italys gross domestic product calculated at 1980 prices rose 24 pct in the fourth quarter of 1986 compared with the same period in 1985 national statistics institute istat said
dotronix inc said it completed the acquisition of video monitors inc for 392 mln dlrs
pennzoil co chairman j
shr 72 cts vs 56 cts qtly div 18 cts vs 18 cts prior net 187 mln vs 144 mln revs 2397 mln vs 1871 mln nine mths shr 187 dlrs vs 126 dlrs net 483 mln vs 325 mln revs 6769 mln vs 5748 mln note dividend payable december 1 to shareholders of record october 30
the ontario government has urged ottawa to require foreign companies to obtain permits to import steel into the country
brazilian garage owners want to be allowed to raise their profits on alcohol fuel and petrol sales to 126 cruzados six us cents a litre from 056 cruzados about 25 cents queues formed at petrol stations in sao paulo late last night as motorists filled up their tanks while they still could
the non callable bonds are guaranteed by fuji bank ltd
indonesian sugar output seen short of target
underwriters are levesque beaubien inc and mcleod young weir ltd national bank said the issue is part of a program by canada mortgage and housing introduced late last year which provides investors with high quality securities similar to government bonds but with a higher rate of return
royal bank of canada ryto 2nd qtr april 30 net
madagascar extends amoco oil exploration agreement
now that tokyo has unveiled its fiscal stimulus package analysts expected bonn and the dollar mark rate to bear the brunt of us calls for further action
kahan said recent government reports have shown strength in the economy during the first quarter but his concern is whether the us economy will sustain that strength in the longer term
chirac says france resolved to support currency pact
the government has pointed out that depressed exports are the main reason for the current weakness in the economy but says that later in the year stronger domestic demand will compensate for this setback
total enrollment in the first three years of the program is only 89 mln acres so the sharp increase expected this year has underpinned new crop corn futures all week
recent price rises have not altered polish plans wincenty nowicki a deputy director of cukropol the amalgamated sugar industry enterprises said
shr 23 cts vs 23 cts net 319 mln vs 157 mln revs 8769 mln vs 4012 mln avg shrs 1401 mln vs 686 mln nine mths shr 53 cts vs 42 cts net 740 mln vs 289 mln revs 255 billion vs 117 billion avg shrs 1401 mln vs 686 mln note results include acquired bottling companies from dates of acquisition
bankers said mexico became so frustrated with the delay in the loan that it suspended its debt equity swap program last month to put pressure on the banks
munro said the company does not plan to increase its dividend
american amr sets schedule for aircal merger
us treasury secretary james baker again said the meeting of six major industrial nations in paris last month did not establish a target exchange rate for the dollar
anitec said the proceeds will be used for acquisitions joint ventures and other investments
opec defending 18 dlr price subroto says
the states of sao paulo parana and rio grande do sul had between them 70 pct of the nations capacity but were responsible for only 50 to 60 pct of production
the hamburg fishmeal market saw little movement in the past week with demand slack as in other protein feed sectors trade sources said
in announcing the rights plan datacard said it is not designed to deter takeovers that would be consistent with the objective of maximizing stockholders value to all of datacards stockholders the rights will not become exercisable until 10 days after an announcement that a person or group has acquired beneficial ownership of 44 pct or more of datacards common stock
for the nine weeks total sales rose 43 pct to 101 billion from 964 mln dlrs
atlas consolidated mining acmb 4th qtr
ny grain freights april 1 tradax took ys tonnage 52000 tonnes us gulf to japan early may dates 1600 dlrs 11 days all purposes tradax took dimitrios 76000 tonnes any grains 4952000 grain cubics us gulf to holland may 1 10 850 dlrs 12 days all purposes adm took ymuiden maru 93500 tonnes dwcc 4726937 grain cubics us gulf to holland april 20 30 lumpsum 675000 dlrs 11 days all purposes dreyfus took golden crown 20000 tonnes us gulf to east coast mexico april 6 10 1000 dlrs 1500 discharge marubeni took nyk tbns 52000 tonnes hss seven times us gulf to japan july 1987 january 1988 dates 1425 dlrs 9000 load 6500 discharge
investment firms cut cyclops cyl stake
iran on sunday denied as baseless reports that it intended to threaten shipping in the gulf and warned the united states that any interference in the region would meet a strong response from tehran tehran radio said
empire co ltd said it will acquire all shares of sobeys stores ltd it does not already own under an arrangement approved by directors of both companies
the proposed issue volume is 475 billion yen against the 600 billion in february
the selling concession is 1 1 4 pct while management pays 1 4 pct and underwriting 3 8 pct
chrysler c sells bonds from its portfolio
italian treasury offer has lower rates
shr 167 cents vs 294 final div nil vs same making nil vs same pre tax profit 2131 mln dlrs vs 2642 mln net 1084 mln vs 1915 mln turnover 1717 mln vs 2594 mln other income 10199 mln vs 12518 mln shrs 6513 mln vs same
us feeder steer price
the company attributed the lower earnings to narrowing profit margins on stretch film
the non callable bond is available in denominations of one mln yen and is guaranteed by france
the minerals systems business has operations in west allis wis and lachine quebec canada
japan economy seen growing 36 pct in 1987 88
in return the united states agreed to hold up imposing anti dumping duties on japanese semiconductor shipments
colonial said the acquisition was its first move toward acquiring and out of state bank under alabamas regional interstate banking law
because its novel financing deal sold quickly last week general motors corps gm general motors acceptance corp unit plans to do more multi tiered financings said michael mangan of gmac
the company lost 10 cts per share in 1985
the 500 mln dlrs of 364 day bills were priced at an average 91712 dlrs against 91529 dlrs last week to yield an average 906 pct against 928 pct last week
investors will pay for the bond on may 6 and the bond pays annual interest on the same day
treasury official says philippine pact very near
hindustan lever profits rise for 1986
lamson sessions lms drops rail parts operations
the latest ec authorisation will add 70000 tonnes at the april 14 tender and a further 30000 tonnes later in the month
he said he has extended the expiration of the offer until april 14
qtly div two cts vs two cts prior pay may 15 record march 31 note full name saxon oil development partners lp
cable and wireless plc cawll said it will merge its hong kong telephone co ltd telhhk and cable and wireless hong kong ltd units into a new holding firm to be called hong kong telecommunications ltd under the merger hk telephone shareholders will receive two hk telecommunication shares at a par value of 50 hk cents for each hk telephone share at par of one dlr
it could take weeks before the extent of the compensation claims for passengers crew and cargo was known and also before it was known how much if any of the ship could be salvaged said david larner of lloyds
bolivia has frozen payments on medium and long term loans to commercial banks since march 1984 and nogales said there would be no money available to restart traditional debt servicing to them for some time
henderson said our pharmaceutical business gets lost in the way that glaxos glaxo holdings plc does not icis pharmaceutical division is the second largest drug maker behind glaxo in the uk last year us drug sales were about 40 pct of its worldwide drug sales of 15 billion dlrs which in turn brought in 27 pct of its total profits
this is well below the 73 pct rise planned for the industry for all of 1988
last week the european commission accepted 785000 tonnes of sugar into intervention by operators protesting about low rebates
traders also said end users now would buy as much as possible on term contracts and buy spot only when the market cooled from its initial reaction to the opec agreement
in future banks will be able to offset this tax credit only against tax on the profit on the relevant loan he said
yugoslavias debt refinancing timetable is to be considered by the paris club at the end of this month
the pioneer group inc said its 70 pct owned teberebie goldfields ltd venture has been granted an additional concession of land in ghana to look for and mine gold
many economists and analysts believe soybeans could be the focus of possible stepped up brazilian marketing efforts
march prices fell in german state on year ago
it said it will add to that a reserve for investment losses in argo communications corp
under a 10 year agreement reached in 1978 jordan was to receive a total of 125 billion dlrs annually from algeria iraq kuwait libya qatar saudi arabia and the united arab emirates to help it resist israel
prior quarter net includes 1000 dlr tax credit
shr six cts vs five cts net 459131 vs 289433 revs 1808832 vs 1680240
the move complicated a usair takeover offer for piedmont which was believed to be close to accepting the bid
top qualities sought on hamburg coffee market
white house standing firm on japanese sanctions
the central bank started to intervene shortly after the market opened here in the afternoon the dealers said
related companies profit 31 mln vs 14 mln
bankers generally said ncb riyad bank and the joint ventures samba saudi french and arab national bank rank as the strongest earners
large interest rate changes were often needed to bring about small changes in the guilder mark exchange rate he added
government companies are trying to capitalise on a boom in the stock market since 1984 85 sparked by liberal tax concessions and reforms in exchange operations brokers said
xyvision inc xyvio 2nd qtr september 26
in a filing with the securities and exchange commission the group led by investors lawrence altschul and james apostolakis said it cut its zondervan stake to 157500 shares or 38 pct of the total from 246500 shares or 59 pct
in retaliation for what washington saw as deliberate community moves to exclude us grain the united states was poised to impose swingeing tariffs on european community food imports and a major trade war was averted at the last minute
in the comparable quarter a year ago utilicorp earned 85 mln dlrs or 87 cts on revenues of 203 mln dlrs
jones medical industries inc jmed 4th qtr net
but he said it may only be a quarter point drop instead of the usual half point to avoid hurting the dollar further
kim told reporters the excessively fast rise in exports could make south korea too reliant on exports increase 27nflation and produce trade friction
april 30 end shr loss one ct vs loss two cts net loss 83116 vs loss 266037 sales 1393455 vs 1035500
gabelli explains sale of gencorp gy shares
others who one month ago claimed a deal was not possible are saying they would not rule one out
all three figures are well below the swiss average for recent years
us m 1 money supply rises 12 billion dlr
the gnp forecast by the institute one of five leading economic research bodies in west germany is more optimistic than that of the other institutes some of which have recently reduced their gnp forecasts to between two and 25 pct
video monitors is a privately owned wisconsin based manufacturer of video display and and video monitor devices
because of the key role the us plays in the debt crisis foreign banks in particular wanted time to analyze the significance of the policymakers comments bankers said
more recently a dispute over us access to the grain markets of spain and portugal after they joined the european community threatened to become a trade war
the light louisiana sweet south onshore grade was also raised 50 cts to 1785 dlrs a barrel and light louisiana sweet north was increased to 1775 dlrs a barrel
non redeemable to maturity the notes will be issued only in registered form and in minimum denomiations of 100000 dlrs
electrical machinery orders rose in february by 82 pct to 172 billion dlrs after falling 154 pct in january
belgian ecu coin issue priced sale date set
it said there were good opportunities for growth in both existing and recently acquired businesses as well as for growth by acquisition in related areas
the other core firms are mitsubishi corp mittt mitsui and co mitst sumitomo corp sumtt matsushita electric industrial co mct toyota motor corp toyot c itoh and co cittt and pacific telesis international inc watanabe said that his latest proposal represented his final effort
a 13 g is filed by passive investors to show holdings of more than five pct
uk chancellor of the exchequer nigel lawson said the meeting of six major industrial nations in paris last month agreed not to publish any bands in connection with their pact to stabilise currencies
the group which includes reliance financial serivces corp a subsidiary of reliance group holdings inc rel said it bought the stock as an investment
the deficit for the year ended december narrowed to 275 billion dlrs from 291 billion dlrs revised down from 292 billion for the year ended september
moorhead told the rothschild officials that warburg pincus considers the offered price to be a fair one warburg pincus said
cibc unit issues australian dlr zero coupon bond
holders will have the right to convert the notes up to the close of business on april 30
canadian foremost continues macedon sale talks
the number of maxtor shares to be issued will be determined by the average closing price of maxtor stock over the 10 trading day period prior to the day the acquisition becomes effective the companies also said
an estimated 12 mln metro users in madrid were stranded today as striking railway workers halted the underground transport system industry sources said
asked what role the reagan administration had played in the final stages of the talks gonzalez said it had lent practical support he did not elaborate but bankers said the us had pressed for an agreement after economics minister juan sourrouille threatened at last weeks spring meeting in washington of the international monetary fund to break off talks unless banks stopped blocking a deal
dow will spending about 650 mln dlrs on research and development in 1987 with an emphasis on new specialty chemicals oreffice said
dealers noted that as part of the authorities attempts last week to ease pressure for lower rates the bank had issued a one billion stg tap stock with a view to subduing the government bond market
full year us dollar figures are sum of sterling translations to us dollars for first second third and fourth quarters net includes fifo inventory gain 217 mln dlrs vs loss 80 mln dlrs in quarter and loss 123 billion dlrs vs loss 178 mln dlrs in year
indonesia relied on oil and gas exports for 70 pct of its export revenue until last years fall in crude prices
kloeckners nominal 100 mark profit participation certificates issued in october 1986 will pay a likely yield of around 10 pct
for six months the yield was 638 pct and the bids ranged from 598 pct to 610 pct with 48 pct of the bids accepted
emery topped a 35 dlr per share or 268 mln dlr offer from ef hutton lbo inc
next year when taxpayers take the new forms and place them side by side to compare them more people will throw their hands up and say im going to get help he said
rhm currently has a 229 pct stake in purchases and acceptances
a spokesman said if spie batignolles converted all the new bonds it could open the way for the french company to take control of comstock but he gave no other details
societe marseillaise de credit is co lead
shr profit 22 cts vs loss 22 cts net profit 430373 vs loss 433395 sales 7723838 vs 6219157 nine mths shr profit 49 cts vs loss 120 dlrs net profit 960008 vs loss 2338286 sales 232 mln vs 199 mln note 1986 data restated to reflect operations discontinued in 1986 1986 earnings exclude loss from discontinued operations of 319055 dlrs or 16 cts a share in the quarter and 906962 dlrs or 46 cts a share for the nine months
dealers said the worsening trade relations between the us and japan will continue to depress the dollar
terms were not disclosed
icahn obviously regards as contrary to his own personal interests usair said its board has authorized counsel to explore all appropriate legal remedies against what it called twas last minute attempt to interfere with usair groups acquisition of piedmont
he said last months six nation currency accord in paris did not include target ranges for the dollar in an academic way heller also said that it was too early to determine whether the parties to the six nation accord were taking appropriate steps to carry out the longer term economic adjustments agreed to in paris
usda comments on export sales 
it added that the restructuring plan would allow the firm to return to long term profitability once it had been approved by local authorities banks and the workforce
while an organization of petroleum exporting countries pact to curb production boosted oil prices early this year prices eventually fell
continuing care associates conc 4th qtr net
chemlawn claimed such purchases possibly violated the officers fiduciary duties and the securities and exchange commissions insider trading rules
hudson bay mining cuts us canada zinc prices
the fnv is not serious about our discussions and i am really not optimistic about it changing its point of view at all if we find this afternoon that the fnv still refuses to accept the necessary redundancies in the general cargo sector then we will break off the talks and the redundancies may begin later this month schoufour said
the government aims to narrow the current account deficit for the whole of 1987 to 975 mln dlrs compared with 152 billion last year up from 101 billion in 1985
dowa mining co ltd said it will start commercial production of gold copper lead and zinc from its nurukawa mine in northern japan in april
the price will be calculated daily based on the daily gold fixing in london
the federal home loan mortgage corp adjusted the rates on its short term discount notes as follows maturity rate old rate maturity 31 days 595 pct 600 pct 32 days
kim said the policy changes were also prompted by the swing in south koreas current account to a surplus of 206 billion dlrs in the first quarter of 1987 from a deficit of 438 mln dlrs in the same 1986 period
in february 1986 the output index had stood at 1037 producing a year on year rise for february 1987 of 04 pct
they recommended japanese firms be penalized through tariffs or import duties over the next six to 12 months for continuing to dump microchips
rank organisation says it launching 100 mln stg commercial paper program
ca bolsters hand against ibm
low sugar prices may attract soviet chinese
the trade credits stood at 210 million dollars when garcia took office on july 28 1985 and announced foreign debt payments would be limited to 10 pct of export earnngs
1987 net both periods includes 3700000 dlr addition to loan loss reserves due mostly to one out of state real estate transaction
it said it was tendering for both ordinary stock and loan stock which when fully converted gave a total of 33 mln ic gas ordinary
after conversion of the unisys interest control data will own 80 pct honeywell inc hon 14 pct and bull sa of france six pct it said
final terms will be fixed before april 21
cumulative export authorisations for the current 1986 87 season now stand at 1915270 tonnes 40 weeks
international technology corp said it has purchased privately held western emergency service inc in a stock transaction
a group of companies controlled by brookehill partners inc told government authorities it may support a buyout of cardis corp as a way to maximize the value of the companys stock
uk unemployment falls below three mln in may
the trade subcommittee backed away from mandating specific retaliation against foreign countries for unfair foreign trade practices as the house had approved in a trade bill last year
henans grain output fell by 25 mln tonnes last year from the 1985 level because of drought which has been affecting the province since may
the most recent bond on the list was issued in 1985
it said in a statement it backed a proposal to allow ec states to ban sales of regular grade gasoline containing lead at six months notice
comb cmco makes acquisition
bindley western industries inc bind 4th qtr net
since we have not seen signs of change in other positions its difficult to see a positive outcome at this stage brazilian delegate lindenberg sette said
industrial valley has assets of about 376 mln dlrs and was acquired last year along with ivb financial corp
it also operates a fully integrated poultry business and a rendering businesses markets livestock and poultry feed and distributes grain through a network of country and terminal elevators
canadian liquid plus short term assets fell 244 mln dlrs to 3512 billion dlrs and total canadian dollar major assets of the chartered banks rose 257 mln dlrs to 22153 billion dlrs
the south african rank xerox unit sells copiers and duplicators throughout south africa and in namibia south west africa it has over 800 employees all of whom will be retained by fintech when the deal closes rank xerox said
bastian industries inc 2nd qtr jan 31 loss
the banks 615 pct subsidiary hang seng bank ltd hsghhk is to report its 1986 results on friday
and technical products revenues and operating profit were ahead of last year led by a strong increases in medical systems volume and the inclusion this year of rcas communications and related services
farm program changes outlined by usda official
the issue is payable on april 15 1987
s and p cited concerns over bethlehems viability over the intermediate term rather than any immediate threat to solvency
actual reserves rose by 305 mln dlrs in february to 2226 billion dlrs after rising 29 mln in january to 2195 billion
even mediterranean countries such as italy france and greece which backed similar proposals in the past did not seem as enthusiastic now because olive oil had been added to the list of products affected
gencorp inc said it filed suit against the unsolicited 100 dlr a share tender offer of wagner and brown and afg industries
banks see german growth of at least two pct
the centre repeated its previous forecast that growth in swiss domestic product would slow to 22 pct in 1987 from 25 pct in 1986
shr 54 cts vs 40 cts net 11105000 vs 8310000 sales 2827 mln vs 2903 mln avg shrs 20599000 vs 20760000 note per share results restated for may 1986 three for two stock split
lundberg a zurich based swedish property tycoon also managed to acquire a 25 pct stake in another wallenberg company the diary equipment firm alfa laval ab alfs st during 1986 the wallenbergs have been concentrating on building up their stake in investor and providentia to prevent any raid on the heart of their business empire
a ministry spokesman said in some central areas especially in the rhineland farmers have taken advantage of warmer weather and started plantings in the past two days
in spite of these the economy has shown signs of stress with no significant improvement in a number of areas he added
they said their overseas borrowings and forward dollar transactions showed a drastic decline with some banks registering a fall of up to 30 pct
and so far us pleas for taiwan and korea to use their hefty export earnings to import more have had little effect
britoil plcs btoll exploration expenditure for the uk in 1987 was likely to be only about a third of the level in 1986 though overseas expenditure would remain approximately the same chief executive david walker said
the united states has vowed to keep the gulf open to international oil traffic and has warned tehran against using the chinese made missiles recently installed in iran near the mouth of the gulf
ab astra astsst said it was proposing a two for one share split and the issue in june of a new series of foreign targeted shares with lower voting rights as part of a strategy to internationalise the company
union corp said it agreed in principle to sell its union flonetics corp subsidiary to irvin kaplan a houston investor
for example the recent large sales of wheat to china 15 mln tonnes and egypt 20 mln tonnes were well below the breakeven export price it said
financial analysts say they are pleased with congressional moves to trim next years federal budget deficit but believe the actions will do little to help improve the us trade deficit or buoy the economy
the united states said last week it would support a 500 mln dlr bridging loan for argentina
the transaction is subject to negotiation of a definitive agreement approved by the baker and camco boards and by the us department of justice with which talks are already taking place concerning the combination of baker and hughes tool
davis water dwws declares stock dividend
official first quarter figures are due in early june
venezuela is seeking a constructive and flexible attitude from its creditor banks in current talks to reschedule 21 billion dlrs in foreign debt finance minister manuel azpurua told a press conference
citibank launches currency warrants
we think japanese consumers should have the same freedom of choice as our consumers
showa denko withdrew from smelting last year but expects to increase its sales of equipment and technology he said
as china lacked storage much of these imports was stored in qinghai inner mongolia and other inland areas the diplomat said
ordinary capital resources ocr lending to indonesia was 36 billion dlrs 271 pct of ocr loans at end december 1986
uk money market offered borrowing facilties
american soybean producers are confident the proposed european community ec tax on vegetable oils and fats will be rejected but are leaving nothing to chance american soybean association asa president elect wayne bennett said
belgian unemployment falls in february
under the old system introduced during world war two and due to be phased out by april 15 some 50 mln ration cards were issued enabling poor people to buy wheat cheaply
a dozen of turkeys 55 banks have announced higher 1986 profits so far a trend bankers in the financial capital of istanbul expect to be reflected through most of the industry
actual retail sales in the december quarter totalled 617 billion nz dlrs compared with 670 billion in the previous quarter and 610 billion a year ago period
he maintained world economic conditions were continuuing to improve a development that would provide a positive backdrop for debtor nations
amax zinc co a division of amax inc said it is increasing the price of dyecast alloys no
rexham said nortek has also agreed not to buy rexham shares or take other actions under a 10 year standstill agreement
they say the countrys consumers who have been spending at a torrid pace in recent years will sharply curtail outlays this year and this should help curtail the flow of imports into the country
private banking earnings will hit 100 mln dlrs in 1987 and top 200 mln dlrs in 1992
united industrial corp uic 4th qtr loss
last year copper demand was second highest on record behind 1984 he said
us pharmacologist norman farnsworth has calculated that 25 pct of all us prescriptions owe their active ingredients to higher plants growing in the forests
bernstein and co to raise his earnings estimates for the company to 128 dlrs a share in 1987 compared to his previous estimate of 120 dlrs a share
kidnapped japanese businessman nobuyuki wakaoji has been released after four months in captivity presidential spokesman teodoro benigno said
they indicate that domestic demand has been a little more sluggish than was expected at budget time he said
for producers with low production costs that difference is greater and can be applied to paying variable costs he said
shulansky
we were able to make our case against them here he said
the group said it already holds 1483886 prime medical shares or 175 pct of the total
volkswagen dividend decision due tomorrow
darman said such negotiations with newly industrialized countries were underway privately
azpurua said the governent plans to pay 21 billion dlrs in public and private debt principal this year
there is likely to be a shift to short term bank deposits by long term depositors bankers predicted
intercare care to post 4th qtr loss
south korean trade minister rha woong bae said his nation would maintain a trading surplus for three to five years as a way to cut its foreign debt
it said the certificates will be classified as zero coupon bonds or promissory notes with no interest but priced at a considerable discount from their redemption price
a new grade of unleaded gasoline now being test marketed will increase refining costs when refiners can least afford it according to officials attending the national petroleum refiners association conference here
kuwait seen wanting to lease some us tankers
the us has said it will not agree to any coffee quotas unless objective criteria which reflect recent changes in the coffee market are used to set export limits
funaro said brazil had paid 44 billion dollars to the world bank and other lending agencies and commercial banks in the past four years and got only 11 billion dlrs in loans
in december it allowed non residents holding at least an a rating from one of the agencies to issue samurai shogun and euroyen bonds without first meeting the normal stringent financial criteria
the nations agreed that currency exchange rates were at about the correct levels when the pact was signed earlier this year
yen usurps godzilla as japans favourite horror
the industry also faces transport problems due to zambia being landlocked
hiram walker resources ltd the previous owner reported liquor profits of 282 mln canadian dlrs in the fiscal year ending sept
if the connecticut law is not amended in time lougee said an option would be to spin off that unit with repurchase provisions
bfgs parent credit volume eased to 3263 billion marks in 1986 from 3351 billion
calvet said our hope is that once the ax is fully developed we will have between 65 and seven per cent of the national market
pw which is currently accepting applications for the claims said that to date 2000 bond application forms and 600 property application forms have been returned
1987 results include all operations of all acquired sealy brand licensees and 82 pct of sealy
the amc purchase is larger and riskier than current ratings anticipate but any downgrade would be small and chrysler would remain investment grade s and p said
restoration of the depletion allowance for a 27 pct deduction from the taxable income of oil companies is controversal but might work said dunham
the bank of england said it provided the market with unspecified late assistance worth 15 mln stg
ec backs new move to encourage unleaded gasoline
it has said the auctions were suspended because it planned to introduce a modified system after talks with the world bank and the international monetary fund
western security bank 4th qtr net
treasury secretary james baker said he expected the us trade deficit to fall by 15 billion to 20 billion dlrs in 1987
vhc ltd vhcl 4th qtr oper net
in light of these disclosures sun found it necessary to re evaluate the feasibility of seeking control of the company and has sold a portion of its shares and currently intends to sell the balance thereof from time to time the group said
bormans brf to buy safeways utah division
qtly div 28 3 4 cts vs 28 3 4 cts prior pay april three record march 13
viceroy resource corp details gold assays
non callable for three years the issue is rated b 2 by moodys investors and b by standard and poors
as long as the groups stake is below five pct it is not required to disclose its further dealings in national distillers common stock
another small drop in already low interest rates could not be expected to cause any significant rise in purchases of consumer or capital goods it said
relations between computerland and its franchise owners have mellowed recently after millard was forced to give up managment control of the company in 1985
but the new move would permit us exchanges to apply to the cftc for approval of establishing futures contracts on those securities sec officials said
brokers said the new deal took them by surprise and all major players stopped making markets in existing issues
idea inc idea to buy private firm
director sixten korkman at the bank of finlands monetary department said he expected the bank to pursue an active policy on the interbank market as an issuer of own cds
klm last week denied a dutch press report saying it was discussing a takeover of air atlanta
funaro says brazils creditors must trust him
things have improved but money center bankers are determined to keep hounding recalcitrant banks even once the 77 billion dlr target has been reached
italian prime minister giovanni goria told the cabinet on monday he was worried about the increased tension in the gulf but said americas retaliation against iran had been limited
jm resources inc said it has acquired a 90 pct interest in dei acquisition corp from interfirst venture corp sam b
the issue is guaranteed by sumitomo bank ltd and final terms will be set on april 8
goldman sachs international corp received forged bonds of a unit of exxon corp xon in a trade a spokesman for goldman sachs and co inc said in a telephone conversation from new york
texon said completion of the acquisition is subject to the consent of banks and third parties and the acquisition would be made for promissory notes and common stock
the economy should also benefit from pump priming expected from the government and a halt in rising prices of manufactured goods it said
merrill lynch mer fires vaskevitch
but that estimation could go to a 180 dlrs easily due to purity supreme in new england comeau said
only the two state groups seriously planted these clones while smallholders preferred the low yielding but older pbx malaysian clones
presidential spokesman marlin fitzwater made the remark one day before us and japanese officials are to meet under the emergency provisions of a july 1986 semiconductor pact to discuss trade and the punitive tariffs
most dealers said they doubted the us federal reserve would intervene on its own account to support the dollar but some said this might occur if the dollar fell much below 148 yen
if we cannot get that then no amount of money can compensate us greenfield also said samjens could sell its holdings in burlington for 95 mln dlrs
payment is due april 21
the government has fixed the exchange rate at nine kwacha per dollar effectively revaluing the kwacha by 677 pct
yields after the first year will be linked to rates on 12 month treasury bills
shr loss 11 cts vs profit six cts net loss 515000 vs profit 294000 sales 628 mln vs 654 mln
cyacq comprising audio video affiliates inc citicorp capital investors ltd and other investors yesterday said it would increase its tender offer for cyclops to 9250 dlrs a share from 80 dlrs subject to certain conditions
yields on these securities to be fully paid by dates from 2011 to 2017 range from 721 to 870 pct
industry sources say japanese buyers are resisting qatars prices and gulf arab oil states have pledged to make up for any shortfall in sales which a fellow gulf state suffers
brown and co would receive newly issued united security stock
asked about retaliation she said sometimes its better not to be specific us trade representative clayton yeutter monday warned another major transatlantic trade row will develop if the ec proceeds with the vegetable oils tax
there are currently 30 mln dlrs principal amount of the debentures outstanding the company said
shr 13 cts vs seven cts net 1487000 vs 778000 sales 644 mln vs 583 mln nine mths shr 66 cts vs 55 cts net 7388000 vs 6127000 sales 2230 mln vs 2222 mln note 1987 quarter and nine month earnings includes a gain on sale of idle facilities of 406000 dlrs or four cts a share 1986 nine months earnings include gain on sale of idle facilities of 377000 dlrs or three cts a share
japanese shipbuilders have applied to the states fair trade commission to form a cartel to restrict tonnage built to about half of total capacity for the year starting april 1 officials of the shipbuilders association of japan said
it had opened here at 14185 yen
the provision for loan losses was 218 mln versus 195 mln in the first quarter of 1986
no raw sugar is being unloaded at tate and lyles refinery at silvertown on the river thames following a fire yesterday afternoon tate and lyle plc said
he expects the company to earn nine cts a share for each of the final two quarters of 1987
health and rehabilitation properties trust said its board declared an initial dividend of 55 cts including 50 cts for the first quarter just ended and five cts from its initial operating period that began december 23
the notes themselves have a 3 3 8 pct coupon and are priced at par
in its weekly petroleum status report the energy department agency said distillate demand was down 22 pct in the period to 333 mln bpd from 340 mln a year earlier
shr 23 cts vs not reported net 282000 vs 1000 sales 186 mln vs 187 mln six mths shr 48 cts vs 17 cts net 583000 vs 213000 sales 378 mln vs 375 mln note 1987 six months net includes a loss from discontinued operations equal to two cts a share
the producers might have to repay these costs through production levies and the proposed special elimination levy czarnikow says but it would be several months before any costs could be recovered under ec rules
taiwans surplus with the us hit a record 136 billion us dlrs in 1986
we have had a series of discussions with a great number of banks both bilaterally and individually on the foreign debt situation in preparation for april stals said
it said the deal involved news internationals acquisition of a 50 pct stake in the telegraphs trafford park printing ltd subsidiary
he added that telecom plus communications was the largest independent supplier of telephone exchange systems in the us and had turnover of 234 mln dlrs in 1986
he said china performed very well in the export field last year and remains a very creditworthy country which will have few difficulties in increasing its borrowing
a previously adjourned meeting of hughes tool stockholders will be resumed this afternoon it said
commission sources said any new system would cover only heavy products representing about 45 pct of the market instead of 65 pct under the present system
based on the companys performance for the first nine months we expect to achieve our 23rd consecutive year of new growth records anthony jf oreilly heinzs newly elected chairman
japanese securities houses have asked the finance ministry again to consider introducing auctions of 10 year government bonds securities sources said
the harvest this year should be around 30 mln bags he added
sales of the predecessor company were 268 billion dlrs compared to 256 billion dlrs in 1985 including the sales by the operations which are divestiture candidates
exxon said that its principal gains in production came from the gulf of mexico alaska the north sea malaysia and from oil sands in canada
indonesia is expanding palm oil output and saleh did not explain why there might be a shortage during ramadan
while roth american said it is still interested in acquiring turco atcor said it is now reviewing its options with other potential buyers who have expressed interest in its consumer products businesses
herrington proposed the increased depletion allowance to the white house tuesday but the white house reaction was cool
even if west germany and japan succeed in stimulating their economies it may not be enough to solve structural economic imbalances in the near future dealers said
its net earnings fell to 200000 us dlrs in 1986 from 522 mln dlrs the previous year
philippine inflation predicted to rise
it said the gleason division manufactures automated assembly and test systems used in the production of small to medium size components for a number of industries including automotive electronic and appliance
the crisis began when brazils trade surplus its chief means of servicing its foreign debt started to decline sharply and the problem was compounded by a renewed surge in the countrys27ate of inflation
some foreign companies are not waiting but they are more the exception than the rule roeher said
under the new rules a firm must be the book running lead manager during the two preceding years of 12 internationally distributed debt issues denominated in us dlrs or in one of eight other major currencies
nz february current account deficit 78 mln v 93 mln jan govt
he said there are no law enforcement officials involved at this time
n malhotra said in a statement
the soviet union featured prominently in uk grain exports outside the ec for the period july 1 march 13 taking a combined total of 110 mln tonnes of wheat and barley out of all destination uk exports of 716 mln tonnes the home grown cereals authority said quoting provisional customs and excise figures
conable arrived in indonesia on saturday and has since met 14 indonesian cabinet ministers to review the countrys borrowing needs and the impact of falling oil prices on the country
caesars owns casino hotels in nevada and honeymoon resorts in pennsylvanias pocono mountains
some 900 people were evacuated from their homes during the rains and flooding last week civil defense officials said
however some eurosterling dealers noted the bonds could soon fall back marginally if as expected professionals stepped in to take profits at current healthy levels
the bank said its expects to report estimated net of over 15 mln dlrs for 1987
but he told a press conference that due to the high marginal tax rate on north sea operations the main impact of the drop in profit was absorbed by a fall in taxation to 330 mln stg from 145 billion in 1985
anzola told a meeting of the banking association yesterday the new plan to be called exchange agreement no
the company said it completed the previously announced sale of heublein for 12 billion dlrs in cash today
the banks are not competition for individual stockbroking firms because of the increased business they generate he added
taiwan south korea west germany japan all those miracle economies deliberately undervalued their currencies the peso has been free floating since june 1984
usair u reports final proration factor
the currency has risen about 25 pct in the past three months to its current rate of 2950 cents due partly to signs of a possible power shift with the appearance of a number of independent candidates in the whites only election on may 6 they added
the offer it said is also conditioned on the tender of at least two thirds of the outstanding preferred shares
credit volume eased to 91 billion from 92 billion while loans to companies rose seven pct
higher limits for cbt wheat than for kcbt wheat would significantly impair the kcbts ability to compete with the cbt for speculative interest michael braude president of the kansas exchange said in a letter to cftc
hernandez defined the meeting as an informal exchange of ideas about the oil market
in all a 1842 mln stg charge was made against profits for 1986 compared with a 1007 mln stg charge in 1985
house ways and means cmte finishes work on bill to toughen trade laws
joseph light and power co is full name of company
french gross domestic product will grow by only 15 pct in real terms this year compared with the governments forecast of two to 25 pct growth the private institut des previsions economiques et financieres pour le developpement des entreprises ipecode said
but market sources said that while the recent franc performance leaves room for a further quarter point cut in the intervention rate there was plenty of market liquidity
ec commission sources said yesterday french traders planned to sell 775000 tonnes into intervention stocks west german traders 75000 tonnes and dutch traders 2500
the bp official also said the 70 dlr bid is a 40 pct premium over standards stock price over the past year
central bank governor francisco gros said after a meeting with a 14 bank advisory committee that brazil cannot make any interest payments at this time though it would do so as soon as we can the talks came as the annual meeting of the 44 nation inter american development bank iadb in which both gros and the bankers had been taking part moved toward a close here
nodaway valley co nvcoo 1st qtr net
j and j snack foods corp initial public offering of 25 mln dlrs of convertible subordinated debentures due april 1 2012
she said a parliamentary committee would investigate ways of closing some of the bigger loopholes including indirect trade with south africa via swedish subsidiaries in third countries
crazy eddie said if a party were to acquire 30 pct or more of its common stock and then fail to acquire crazy eddie within 180 days thereafter rightholders would be entitled to exchange their crazy eddie common stock for subordinated notes of crazy eddie maturing either one year or above a certain dollar limt five years after issuance
on that basis the trade surplus declined slightly in february to 916 billion dlrs from a record 958 billion in january
robert fildes president and chief executive of cetus corp ctuso told that squibb corp is not interested in buying cetus
we believe that our two companies provide an excellent fit with each other and that the combination will enable each of us to better serve our existing customers and meet the challenges of the future emerys chairman said in his letter
national distillers earned excluding the liquor businesses 221 dlrs per share for 1986
german gnp is seen rising by two to 25 pct but with inflation between zero and 10 pct according to most german forecasts
gmacs mangan said his firm also wanted to sell securities that were aimed at the retail sector
one miner was killed and 56 others were trapped underground for about 24 hours before being brought safely out
bank of japan to sell 800 billion yen in bills
kg saur sells assets to reed international
florida employers insurance flaefo 3rd qtr
if mellon does not redeem the notes at that time they will be non callable to maturity
balladur insists on maintenance of louvre accords
primary metals orders were up 139 pct to 84 billion dlrs after a 20 pct decline in january the department said
company officials said although reserves were being depleted zambia could continue to produce copper beyond the end of the century though at lower levels of production
weizsaecker arrived for a four day visit opening a latin american tour which includes bolivia and guatemala
production at trail and kimberley has been shut down since the strike started may 9
he said a whole set of new ideas had been developed and he was convinced the international banking system would provide more funds but the problem is not just economic but also political
the market is getting mixed signals and it doesnt know which way to go one analyst said
urban visiting the swedish capital to deliver a lecture at the foreign policy institute announced earlier this week that poland would soon offer shares to private citizens in state companies in a bid to make the economy more responsive
statoil will head exploration on blocks 7224 7 and 7224 8 sharing the licence with exxon corps xonn norwegian subsidiary esso norge a s the british petroleum co plcs bpl bp petroleum development norway ltd shell norsk hydro and saga petroleum a s sagpol blocks 7219 9 and 7220 7 were awarded to norsk hydro the operator statoil mobil corps mobn mobil exploration norway petrofina sas petbbr norske fina a s and bp
the leveraged buyout is being financed by a syndicate of seven banks led by the security pacific national bank unit of security pacific corp spc the announcement said
zambian politicians have frequently criticised the fund however and diplomats say president kenneth kaunda faces consistent opposition inside the ruling partys central committee over dealings with the imf
it explained it transferred 1100000 dlrs from its undivided profits account to its capital account in order to raise the new par value from two dlrs under the five for one split to 250 dlrs
the historical cross rates for sterling and the mark tell much the same story
the stock had been regarded as slightly expensive when it was announced and dealers said that even first thing this morning it had seemed slightly dear in relation to comparable existing stocks
x includes imports white 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 198 198 173 173 production 232 232 254 254 ttl supply x 433 433 430 430 domestic use 82 83 80 80 exports 170 160 152 152 total use 252 243 232 232 end stocks 181 190 198 198 note season begins june 1
empi inc empi 4th qtr loss
the liberalization of west german capital markets in may 1985 led to a flood of financial innovations but the lack of a secondary market for these has diminished their acceptance deutsche girozentrale deutsche kommunalbank management board member wiegand hennicke said
they said they would spend more than 13 mln us dlrs to enhance the biltmores position as one of the finest resort hotels in north america chicago based vms realty is a real estate and development firm
japanese finance minister kiichi miyazawa said the group of seven g 7 countries reaffirmed their paris accord on stabilising currencies to convince the market of their resolve
shadowfax shfxf sets normal course issuer bid
while bahrain plans an official stock exchange and trading in saudi arabia has picked up establishment of formal exchanges in qatar oman and the uae does not appear imminent azzam said
it did not identify the company to be acquired
australian unions launch new south wales strikes
say sayi to take 3rd qtr loss from sale
burlington bur files two debt offerings
english in a telephone interview said the sec staff planned to allege that wppss had overstated the demand for power in the region and had understated the cost of the plants which were to built with the bonds proceeds
wells fargo and co 1st qtr shr 136 dlrs vs 113 dlrs
kerin was referring to the governments underwriting of the guaranteed minimum price paid to wheatgrowers by the australian wheat board near the start of the season
television reports said that in the parana state capital of curitiba petrol stations were only supplying fuel for exceptional cases such as ambulances and funeral processions
imperial oil ltd 70 pct owned by exxon corp xon will focus on maintaining its financial strength and improving near term earnings performance through operating expense reductions and selective capital spending the company said in the annual report
standard trustco sees better year
many people are worried about inflation again said mats joensson of goldman sachs
ongpin also said the government would pursue efforts to obtain 500 mln dlrs in concessional funding for the program from a world bank led consultative group of multilateral and bilateral aid donors
i am expecting sanctions at least and even more than sanctions sen
moore corp said it has no immediate plans to issue preference shares under the proposed resolution
full name circus circus enterprises inc
the revisions also indicated personal consumption spending decreased 22 billion dlrs in the fourth quarter after an increase of 396 billion dlrs in the third quarter
delegates said major sticking points were likely to be the amount of non member cocoa allowed to be bought for the buffer stock and the fixed price differentials at which different origin cocoas will be offered to the buffer stock manager
in the leisure sector the group planned a joint development with club mediterranee cmipa club med of a 200 hectare pleasure park at puisaye in the yonne department of eastern central france he said
coca cola bottling group inc said it filed with the securities and exchange commission to offer 125 mln dlrs of subordinated notes due 1997 through salomon brothers inc
officials at fairchild and fujitsu were not immediately available for comment
the fed is on hold now because the data have been so confusing he said
hertz realty issues 75 mln canadian dlr eurobond
the interest payment is being made in line with the terms of a previously announced agreement in principle it reached with an unofficial committee of senior bondholders
the expanded 90 cent limit will remain in effect until the settling prices on both of the first two limited months has not moved by more than the normal 60 cent limit for other contracts in two successive trading sessions the csce said
the economic situation has deteriorated in recent months and slow growth high unemployment and large payments imbalances are likely to persist it said in one of its gloomiest reviews of the world economy in recent years
the bank of england said it provided the money market with a further 30 mln stg assistance
southwest currently has 123 mln shares outstanding
bankers said that it was hoped that the ecgd would resume cover fairly soon as this could encourage other official creditors to begin bi lateral talks as well
takefman said the company is actively looking for acquisitions in the consumer products industry likely in canada
he said he sold the stock at a profit but did not disclose the selling price
subscriptions to the issue close april 17
industry demand for farm machinery continued to erode during the latest fiscal year with worldwide industry retail sales of tractors sliding more than 10 pct below last years depressed levels the company said
us trade representative clayton yeutter said it was all but certain president reagan would go ahead today and impose curbs on japanese exports as planned
cut were the firms senior debt eurodebt and senior guaranteed eurodebt to a 1 from aa 3 and subordinated debt to a 2 from a 1
1986 nine mths includes pre tax gain 206 mln dlrs on sale of iron ore interest in western australia
on the other hand it also saw no reason for sticking dogmatically to the money supply target for the whole of 1987
merrill lynch capital markets backed by a group of investors it organized has launched a 4850 dlr a share tender offer for borg warner for 90 pct of its stock
bp shares dropped on the announcement to 877p from 888p at last nights close
lockheed corp has been awarded 1657 mln dlrs in military contracts including a 1024 mln dlr contract for eight c 130 aircraft for the air force reserve the air force said
finnish export credit issues danish crown bonds
dividends on the preferred could be paid at the option of the surviving corporation in cash or additional shares of preferred for the first five years it added pay n pak said bilzerians proposal is subject to a physical inventory of merchandise at june 30
the bank forecast the shortage in the system today at around 115 billion stg
but administration and private sources agreed that if the reagan administration did decide to offer subsidized wheat to moscow it could take several months
in such a fundamental reform the test of the willingness of the government is how it confronts the domestic resource requirement arrivillaga said
terminating the tax treaty with the netherlands antilles may cause bond issuers to call in the bonds early
usdas amstutz confident of ec oils tax defeat
brazilian science and technology minister renato archer said brazil will keep its computer market closed to foreign goods in order to give its own infant industry time to develop
lawson wants to delay a cut in base rates until the budget
the bank of england said it has operated in the money market this afternoon buying back bills totalling 347 mln stg
frances current account payments surplus slipped to a provisional 300 mln francs seasonally adjusted in january from a downward revised surplus of 38 billion in december the finance ministry said
st lawrence seaway to open on schedule
it said the record date for the distribution will be delayed until the claims are resolved
one of two rival firms seeking to enter japans international telecommunications market said it will offer a stake in the company to 10 foreign firms
for example wheat grown in northern new south wales nsw might move more efficiently to brisbane in queensland than to sydney or newcastle in new south wales it said
asked what factors might destabilize the markets the official cited a lessening of market fear about intervention a completely unexpected change in the economy of japan the us or west germany or resumption of comments by government officials seeking to talk the dollar up or down
it would not be the kind of issue that the president or the chairman would get into specific negotiations or discussions about lyng said
the purchase will be through 14 mln stg in cash and the issue to sears plc of 80 mln new lex ordinary shares
shr loss 14 cts vs loss 35 cts net loss 3718908 vs loss 6714372 revs 228 mln vs 144 mln avg shrs 257 mln vs 192 mln nine mths shr loss 102 dlrs vs loss 146 dlrs net loss 244 mln vs loss 281 mln revs 617 mln vs 289 mln avg shrs 238 mln vs 192 mln
he denied that opec was exceeding its agreed production ceiling
trading in perpetual issues which pay interest but never mature has come to a virtual halt
graphic media inc gmed year
shr 119 dlrs vs 146 dlrs net 3150185 vs 2665284 revs 279 mln vs 241 mln avg shrs 2653646 vs 1826858 year shr 145 dlrs vs 137 dlrs net 3611802 vs 2502443 sales 622 mln vs 528 mln avg shrs 2489978 vs 1826858
national city bancorp ncbmo 10 pct dividend
gold prices retreated at midday but rallied before the close with support from the silver market which was approaching two year highs traders said
hudson foods inc said it has agreed in principle to acquire thies cos inc a poultry beef and pork products provider to midwest supermarkets and food distributors with sales of about 69 mln dlrs for the year ended november one
commission discussions were closed to reporters but it was apparent from the news conference that task force members did not agree on all points in their report
details of the 1988 budget in which spending will match revenue have yet to be worked out the officials said
we have said all along that the rubber is holding up well from a condition and quality standpoint rubber stored in proper conditions does not deteriorate he told in a telephone interview
the rail line to hangzhou will be double tracked by 1995
although local banks tried to follow suit turkeys exports declined last year to 74 billion dlrs from 79 billion in 1985 and bankers doubt there is enough business to go round
meanwhile in london a statement from beecham said the business was sold to revlon for 25 mln dlrs in cash and a royalty payment
raised were valero backed tax exempt economic development revenue bonds of vincennes ind to baa 3 from b 1 valeros subordinated debt to ba 1 from b 2 and depository preferred stock to ba 1 from b 2
banks are being invited to join at 20 to 25 mln stg for 12 1 2 basis points at 10 to 15 mln stg for 10 basis points and at five to 75 mln stg for 75 basis points
general leaseholds ltd year net
the february fomc kept the four to eight pct federal funds rate reference range for policy as in other recent meetings
the association said that the request would cover exports to all destinations adding that the soviet union which has important maize needs is currently excluded from the list of destination countries for the 500000 tonnes of french maize
the commission has already decided to accord rebates for the export of 500000 tonnes of french maize of which rebates for around 100000 tonnes have been granted
dunkin donuts inc dunk 1st qtr jan 24 net
the bank of japan bought a modest amount of dollars this morning possibly around 200 to 300 mln dealers said
us telecommunications inc ut 3rd qtr net
american savings said knoll also had talks with chairman of the executive committee shepard broad and chairman morris broad on the purchase of their american savings shares as well at 20 dlrs each but no agreement was reached
the 27 gilt edged primary dealers regard the introduction of grey market trading as an essential feature of an auction system covering part of the governments funding needs
they also have to recognize that they cannot in the long run develop a healthy and stable farm sector on the basis of protectionism and excessive subisdies
it will begin in la pampa within about 10 days weather permitting
cpc international inc said it has agreed in principle to sell its peterson puritain inc subsidiary to hi port industries inc
moodys investors service inc said it raised to aa 2 from aa 3 the long term deposit obligations of citizens fidelity bank and trust co because its parent citizens fidelity corp has merged into pnc financial corp
if you look at the whole merger mania and look at the scale some of these dealers its going to be very hard to resist taking them public said another analyst
shr loss 35 cts vs loss seven cts net loss 718269 vs loss 145216 revs 1394080 vs 2608083 note full name of company is standard bred pacers and trotters inc
musa said liberia was invited to join and its share will be decided after a project feasibility study
santana said if the saudis do not accept brazils terms by monday then petrobras will negotiate elsewhere
it said subject to fulfillment of certain conditions the price of the shares to nim will be 796 cts per share and said it will issue 376955 shares to the partnership
merchant banks and stockbrokers interested in being considered for this would be interviewed in early april
basix corp said it has agreed in principle to sell the stock of its automatic toll systems inc subsidiary to cubic corp for about 26 mln dlrs
it has begun to level off but we dont see it beginning to go down yet he told the panel
the dividend is payable may 29 to holders of record april 24
b and c reorganises commercial operations
the spokesman declined to comment on us newspaper reports that the purchase price totalled 173 mln dlrs
aart de zeeuw chairman of the general agreement on tariffs and trades negotiating group on agriculture met this morning with members of the house agriculture committee
despite the planned use of proceeds from asset sales for a portion of the buy backs costs decapitalization would raise adjusted debt leverage above the 75 pct level of recent years
payment date is april 27
joseph light and power corp said its board declared a three for two stock split and raised the quarterly dividend on presplit shares to 49 cts per share from 47 cts
it does not approve of a decrease in prices from current levels and it also does not accept a mad increase that would drive consumers away and make them try and find alternative sources for energy opec agreed last december to cut production after world prices hit new lows in 1986
it did not refer to debts maturing to foreign governments and multilateral lending agencies accounting for the remainder of ecuadors foreign debt the official said
chrysler working through manufacturters hanover trust co bought mexican public sector debt with a face value of 110 mln dlrs mainly from european banks
dividend payable dec 11 to shareholders of record nov 13
the provisional year on year rise in january was 102 pct compared with a downward revised and provisional 94 pct in december
rumors of an impending deal have coursed through wheat markets since officials from the two countries held their customary semi annual grain talks in february
the securities are available in denominations of one mln yen each and are payable on april 23 1987
qintex america ltd said it is again extending its offer of 13 dlrs a share for 33 mln princeville development corp shares until today from yesterday
in making the annoucement reagan said i am committed to the full enforcement of our trade agreements designed to provide american industry with free and fair trade trade analysts said his move was aimed as much at japans semiconductor trade practices which are said to have injured the us semiconductor industry as congress which has complained about presidential timidity on trade issues
the offer values each share at 100 pesos the price at which the philippine social security system suggested it might buy eight mln class a shares last week
the balance will be shipped from mackay by end march harper said
japan rubber stocks fall in march
a scheme to distribute surplus food free to the poor in the european community ec which was due to expire next tuesday will be partially extended for a further month an ec commission spokesman said
excluding the impact of the non accrual loans irving said its first quarter net income would have rose 84 pct to 329 mln and per share amounts would have risen eight pct to 175 dlr
us imports of silver in december were 8458000 ounces vs 19950000 in november and 8840000 in december 1985
the trust bank apparently changed its earlier view that the dollar would rise and started selling relatively large amounts of dollars pushing the unit down to 14880 at one point brokers said
eighty one pct of the membership voted he said
sogenal is the only french bank in austria it set up the first foreign exchange dealing room outside paris at its strasbourg headquarters in 1985 and is the only foreign banking subsidiary to be a broker on the zurich bourse
a former us agriculture department official urged the department to require that packages of chicken be labeled with handling and cooking instructions to protect the public from disease
vneshtorgbank seeks increase for facility
other us options would be to appeal the decision in canadian courts or to retaliate against canadian goods a lower level us trade official said
the margins will return and this will be a better year than 1986 in 1986 refining and marketing showed operating profits of 401 mln dlrs on revenues of 1636 billion dlrs
science management corp smg 4th qtr oper net
mclean said it is requesting the bankruptcy court to schedule a hearing on its motion to approve the agreements adding that the court has granted the companys request to extend for 90 days the period for the shipping companies to file a proposed plan of reorganization
in other words the monetary policy measures required are different from and sometimes diametrically opposed to those needed when the money stock is increasing as a result of mounting economic activity though koehler was known to be the most liberal of the generally monetarist bundesbank board his comments marked the first time cuts in rates had been concretely suggested as a counterpoint to overly strong monetary growth dealers said
there is a 10 basis point annual facility fee in years one to four rising to 12 1 2 points thereafter
louisiana sweet also was lowered 150 dlrs to 1635 dlrs the company said
the analysts described chancellor of the exchequer nigel lawsons budget as cautious a quality which currency and money markets had already started to reward
he has the tacit backing of the government in his efforts to merge two telecommunications companies into one competitor to kokusai denwa denshin kdd which has a monopoly on international telephone services here industry analysts said
kramer made the forecast at a meeting today on austrias economic outlook also attended by chancellor franz vranitzky finance minister ferdinand lacina and national bank president stefan koren
the preferred shares are convertible to the same number of common shares following hart scott rodino and fdic approvals
grain and oilseed complex export business reported since yesterday by government agencies and private exporters japanese crushers bought 4000 to 5000 tonnes of canadian rapeseed in export business overnight for may shipment greece has agreed to buy 27000 to 33000 tonnes of spanish corn for spot shipment with italy buying 6000 to 7000 tonnes of spanish corn for last half april shipment a spokesman for cargills spanish unit said taiwan bought 54000 tonnes of us soybeans for april 20 may 5 delivery c and f continued the india state trading corp bought 20000 tonnes of optional origin soybean oil for may 20 june 20 shipment and 6000 tonnes of rbd palm olein for april 25 may 25 shipment at its import tender yesterday pakistan rejected offers at its tender for 12000 tonnes of rbd palm oil but is expected to retender next week the us department of agriculture usda said it has accepted a bid for an export bonus to cover the sale of 50000 tonnes of us hard red winter wehat to sri lanka for april 8 16 shipment with an additional 10000 tonnes of wheat still available to sri lanka under the export enhancement program eep continued the usda said it has accepted a bid for an export bonus to cover the sale of 18000 tonnes of us durum wheat to algeria for june 20 30 shipment with an additional 228000 tonnes still available to algeria under the eep
rice supply demand for thailand usda
belgium launches bonds with gold warrants
the coupon has been set at 5 1 4 pct
in addition columbia said it will call for the optional sinking fund redemption on may 1 1987 the 47 mln dlrs principal amount of the 9 1 8 debentures and 75 mln dlrs of the 10 1 4 pct debentures
platt does not foresee potential for tighter monetary policy on the basis of the latest retail sales report
qtly div seven cts vs six cts prior pay april 17 record april three
the buyout was surrounded by controversy since a purolator board member doresy gardner resigned in march
malaysias debt service ratio will also be maintained at a level no higher than 20 pct he said
with the prospects of a crop of at least 28 mln bags this year brazil has the capacity to export up to 20 mln bags after meeting local consumption of around 70 mln the sources added
smith barney analyst cuts hercules hpc rating
terms of the acquisition were not disclosed
bahrain treasury bills yield average 600 pct
some analysts see crude stocks falling by as much as six mln barrels while others think they could go up as much as 35 mln barrels
it said the previous high for a single quarter was 27179000 dlrs for the 1986 fourth quarter
howard macdonald said in a statement
consumer delegates said they had not been prepared to accept the producers offer to abandon quotas if it proves impossible to find an acceptable basis for them
remarks by japans prime minister yasuhiro nakasone that last months g 6 meeting agreed to stabilize the dollar above 150 yen have come too late to influence currency trading dealers said
futures on the government debt securities of japan canada and great britain can already be marketed in the united states under a designated exemption issued by the sec
total opec oil supply totalled 172 bpd in the first quarter of 1987 compare with 193 bpd in the last three months of 1986 while supply from non opec countries totalled 28 bpd as against 282 bpd in the same 1986 period
business investment is forecast to rise four pct a year this year and next after 37 pct last year with private sector productive investment rising 49 pct in 1988 after a six pct rise this year and 55 pct in 1986
the 30 inch main underground line can transport over 300000 barrels daily
south koreas finance minister chung in yong will visit us treasury secretary james baker next week to discuss us requests for an appreciation of south koreas won against the dollar finance ministry officials said
deb shops inc debs sets stock split
viacom said national amusements arsenal holdings inc subsidiary has raised the amount of cash it is offering for each viacom share by 75 cts to 4275 dlrs while the value of the fraction of a share of exchangeable arsenal holdings preferred to be included was raised 25 cts to 775 dlrs
there is no doubt in my mind about the willingness of our trading partners to retaliate against unfair trade legislation yeutter said adding that policy flexibility is essential in solving international trade problems
it rose 1335 pct from 12427 billion at the end of december 1985
the new grade of unleaded gasoline has an octane level of 89 compared with over 90 for super unleaded and 87 for regular unleaded gasoline
baldrige told the senate finance committee the united states would insist japan open its markets to us products as the us market is open to japanese products
the company said it has obtained waivers from holders of its six mln dlrs principal amount of debentures due march 31 1993 to defer interest payments aggregating 270000 dlrs through march 31 1987
the notes are fully secured and therefore have a prior claim over cambrians assets in the event of other claims arising from litigation it added
as in the present accord the may buy and may sell levels are set at plus or minus 15 pct of the reference price and the must buy and must sell levels at 20 pct of it
cyclops cyl board restructured to include dixon
rabobank finally gave in to bourse demands to honour all subscriptions
mikulics proposed economic program which also includes higher personal taxes as well as wage and price restraint is intended to serve as a basis for the debt talks to demonstrate yugoslavias ability to eventually repay the credits
mathematical applications said it is talking to debenture holders its landlord a lessor of equipment to the marketing operation and holders of other liabilities not being assumed by pagex to arrange distribution of assets after the proposed sale adding that these assets will be significantly less than its liabilities
staley continental sta regular dividend set
he was asked about target zones at a news conference in bonn
deutsche agrees full takeover of former eurasbank
cpc international inc said it reached an agreement in principle to sell its european corn wet milling business to agricola finanziaria spa a member of the ferruzzi group for a price in excess of 600 mln dlrs
last falls dry weather may limit livestock grazing on moisture depleted pastures while the cold winter weather necessitated supplemental feeding to keep livestock healthy
consolidated bathurst which reported operating profit of 104 mln dlrs last year on sales of 202 billion dlrs said its joint venture acquisition of a market pulp mill at castlegar bc last year broadens its product range and will contribute to equity earnings
recoverable oil reserves in aramco fields rose to 167 billion barrels by the end the year from 1665 billion in 1985 while gas reserves jumped by 77 pct to 1358 trillion cu ft from 1261 trillion the companys annual report said
shr four cts vs three cts net 4505000 vs 4493000 revs 233 mln vs 214 mln
he said they were turning their backs on core commodity chemical businesses
bundesbank buys dollars for yen frankfurt dealers
its capital structure will be strengthened and interest expense reduced as a result the company noted
money market dealers said call money was likely to hold in a 350 70 pct range for most of this month after the bundesbank switched last month to tenders by interest rate at a minimum bid rate of 350 pct allocating funds at 355 pct
idb communications group inc idbx year net
canadas current account deficit is projected to shrink to around four billion us dlrs this year and to remain at about that level in 1988
south africa problems remain despite debt pact
temperatures could stay in the mid 20s for up to eight hours mohler said
another factor is that banks in london where the main market is based are going long in the currency because of a general feeling that it will rise in the future one economist said
rmj securities had offices in new york where total market turnover of us government securities was 110 billion dlrs a day and in london where it has 15 billion
the united states and 12 other industrial nations granted argentina a 500 mln dlr bridge which was received this week
ever since then the advisory group of which lloyds is a member has been attempting to round up the needed signatories
there was little domestic and foreign pressure for lower rates and no signs of a change
the company has scaled back its sales forecast to about 25 mln dlrs from the 335 mln dlrs projected in december
a treasury official said there are no plans to try to reduce the us budget deficit by issuing yen denominated bonds that would become known as reagan bonds it simply isnt something that we are planning to do the official said
javett principal officer of zico and first fidelity bancorps ffb first fidelity bank unit the depositary for zicos offer
the dividend represents a 12 pct annual return based on the companys original offering price in december of 10 dlrs a share
the world farm market suffers from surpluses because of rising production by exporting countries he added
general partners a partnership of privately held wagner and brown and afg industries inc afg made the disclosure in a newspaper advertisement
shr one ct vs three cts net 66922 vs 194531 rev 42 mln vs 57 mln nine months shr two cts vs four cts net 93802 vs 260702 rev 101 mln vs 132 mln note nine months 1987 period includes gain of 196043 dlrs from sale of meston lake resources shares and a credit of 127000 dlrs from a favroable settlement of s state income tax assessment
leading industrial nations will meet again next month to review their accord on currency stability but us officials said financial markets are convinced for now the countries will live up to commitments to speed up economic growth
france fund inc said its board declared an initial dividend of 112 dlrs per share payable april six to holders of record march 20
heavy buying by speculators boosted conrac corp 7 7 8 to 29 higher than a 25 dlr per share cash tender offer announced by mark iv industries inc iv its a case of chemlawn euphoria said one arbitrageur referring to a recent hostile tender that began at 27 dlrs per share and ended when chemlawn corp chem found a white knight willing to bid 3650 dlrs
heinz said oreilly will retain his present titles of president and chief executive officer
for technical reasons securitisation is simpler and more efficient with fixed rate rather than with floating rate mortgages
brazil business leaders call for talks with imf
wang laboratories said it signed an agreement with desk top financial solutions inc giving wang the right to market the desk top financial planning system for wangs office information systems ois product line
resorts said the offer will expire at 1700 est on march 27
qtly div 12 1 2 cts vs 12 1 2 cts pay april 23 record april 2
pacific resources inc said it signed a definitive agreement with royal dutch shell group unit shell oil co to buy shells marketing terminaling and distribution assets in hawaii for 32 mln dlrs
but you wouldnt see a rise grubman said the proposals will allow att to selectively raise or lower prices depending on the market
in 1986 avons operational earnings rose 24 pct to 1587 mln dlrs from 1282 mln dlrs a year earlier and sales rose 17 pct to 288 billion dlrs
allis chalmers ah estimates proceeds of sale
graff said we invested heavily in 1986 which we believe will result in higher future growth and earnings for the company
p and o will concentrate on expanding in its established market sectors
oper shr primary 28 cts vs 17 cts oper shr diluted 24 cts vs 17 cts oper net 1826000 vs 1104000 revs 2054 mln vs 1711 mln avg shrs primary 6512462 vs 6510462 avg shrs diluted 103 mln vs 103 mln year oper shr primary 83 cts vs 76 cts oper shr diluted 77 cts vs 74 cts oper net 5393000 vs 4955000 revs 7199 mln vs 6335 mln avg shrs primary 6511591 vs 6508379 avg shrs diluted 103 mln vs 9122722 note revs includes investment income 2323000 dlrs vs 2239 dlrs for qtr and 101 mln dlrs vs 6612000 dlrs for 12 mths
he gave no other details
moodys said norstars ratings have been under review for possible downgrade since february 23
us export inspections in thous bushels soybeans 18616 wheat 16760 corn 25193
the multilaterals have been performing well the debtors have been performing well said the official
european community industrial output increased by an average of around two pct last year compared with 33 pct growth recorded in 1985 against a year earlier the ec statistics office eurostat said
correction macandrews and forbes holdings in new york story headlined macandrews and forbes holdings bids for revlon pls read in headline and first paragraph macandrews and forbes considers bid for revlon and in first paragraph macandrews and forbes holdings inc said it is considering making a proposal corrects from bids for revlon in headline and will offerin first paragraph
consolidated tvx said it will acquire 29 pct of cmp a public gold mining company in which tvx already holds a 15 pct interest making tvx the largest single shareholder
results exclude gain on sale of discontinued operations of 97 mln dlrs or 360 dlrs a share in 1987 3rd qtr
it said its subsidiaries which account for 96 pct of its 326 billion dlrs in revenues and 79 pct of its net property plant and equipment were free of the action
both government and bank of japan economists agreed the economy is better placed now to cope with the deflationary impact of plunging stock prices than it was a few months ago
about 90 mln dlrs of this equivalent to nearly half guyanas annual exports would be owed to the imf
period ended february 28 shr loss 11 cts vs loss 11 cts net loss 1309000 vs loss 937000 revs 5271000 vs 4417000 avg shrs 11690000 vs 8724000
he said france was continuing negotiations with iran
new zealands official foreign reserves fell slightly to 713 billion nz dlrs in february from 715 billion in january but were sharply above 285 billion in february 1986 the reserve bank said in its weekly statistical release
uk property company greycoat group plc is seeking two financings one for 120 mln stg and the other for 16 mln stg in connection with its embankment place development above and around charing cross station in london banking sources said
the price was not disclosed
the industrial bank of japan ltd ibj london branch said it is establishing a sterling certificate of deposit cd issuance programme for up to 200 mln stg
us home resales up in february realtors say
transfer payments narrowed to a 140 mln dlr deficit last month from a 185 mln deficit a year earlier and a 225 mln deficit in january
it said seashore bankshares has assets of about 46 mln dlrs
he said he would go to wellington for talks with new zealand which had a surplus in trade with the philippines to encourage it to switch imports from other countries
however mining could only begin after foreign partners invest eight mln dlrs needed for technical equipment the spokesman said
it did not elaborate on financial terms of the issue
illinois regional bancorp said it is evaluating whether to affiliate with a larger bank holding company or continue to remain independent
brazils economic plan may permit new debt talks
related to this matter of trade imbalance the point that i found to be of great cause for alarm during this trip to europe was the excessive degree of hope placed by the europeans in the results of the maekawa report he said
quaker oats oat files shelf registration
ef hutton group efh rose 1 1 4 to 41 1 8 and painewebber group pwj climbed 7 8 to 37 3 4
corning glass works glw buys fiber optic stake
manila officials split over debt strategy
the money must come either through equity or debt and baker said developing nations investment regimes do not support enough equity investment so youve got to have some debt there
the deficiency payment rates for both commodities are the maximum permitted by law the department said
bankers said they are now moving into the new government securities market and the stock exchange of singapore dealing and quotation system
brisk increases in personal income and consumption are to appear in february data released today but the bond markets recent sluggishness suggests there will be no major price reaction unless the rises are much larger than expected economists said
standard and poors corp said it may upgrade wainoco oil corps 25 mln dlrs of c rated subordinated debentures due 1998
bkla bancorp dec 31 year net
finance minister kiichi miyazawa told parliaments lower house finance committee that the us is expected to intervene in the foreign exchange market to stabilise exchange rates political sources said
the cap is 12 pct
michigan general in march had said that the exchange offer would be conditioned on 90 pct acceptance and on its lender waiving or providing relief from loan agreement defaults
brown and sons inc and lf rothschild unterberg towbin inc
park electrochemical corp pke sets payout
the legislation supported by congress democratic and republican leadership as well as by the administration required defense secretary caspar weinberger to provide a report to congress within seven days of enactment on plans to protect us warships and flag ships in the persian gulf
but the yen should go up 10 or 15 pct in value ortner said because it is undervalued against the dollar
bookings recovered in the latter part of the third quarter the company said
unemployment is currently at 82 pct of the workforce
he told the hearing that the problem in soybeans is that the us loan rate provides an umbrella to foreign production and causes competitive problems for us soybeans
we are fully prepared to do whats necessary to keep the shipping going and keep the freedom of navigation available in that very vital waterway of the world he said on nbc televisions meet the press the state department said friday iran has been informed about us concern over the threat to oil shipments in the gulf
however lyng said he did not want to make a definitive commitment one way or another at this point under the accord covering 1983 88 the soviets agreed to buy at least nine mln tonnes of us grain including four mln tonnes each of corn and wheat
the group led by committee chairman patrick leahy a vermont democrat urged reagan to step up negotiations with the soviet union by providing export subsidies to help us farmers
it hasnt been critical by any means said a coffee trader in santos who noted that coffee was still moving on foreign ships
turkish bank seeks 20 mln dlr loan
while the owens illinois deletion was forced the inco substitution is being made solely to improve the market sector weighting of the index not because of any change in the company the paper stated
larry eckenfelder of prudential bache securities said he believes american express could have considered a partial spinoff in the past
together the two had revenues of about 50 mln dlrs in 1986
he said this coupon pass which adds permanent reserves to the banking system was for regular delivery tomorrow
but spanish purchases were up sharply at 258507 tonnes against 2751 tonnes in the same 1985 86 period and portugal bought 37599 tonnes compared with zero
the utility said fuel loading has been completed at unit one and the unit is being put through a series of low power tests before the nuclear regulatory commission is asked for a full power license
praising the role of multinational companies and local entrepreneurs in kenyas economy the minister promised to maintain a close working contact with the private sector
indonesian energy minister subroto said opec is deliberately under its production ceiling of 158 mln barrels to defend its 18 dlr a barrel price target
greyhound g buys general motors gm bus unit
morrison knudsen corp said black river constructors a joint venture with martin eby and a subsidiary of hunt corp has received a 517 mln dlr construction contract from the us army corp of engineers
however an accident recently damaged the wagon ferry which plies between kisumu and the ugandan port of jinja causing bottlenecks on the lake route too
the degree of success or failure of a takeover has not in my experience depended on whether or not the takeover was contested he said
the agreement to cooperate in stabilising currencies was reached in paris in february this year
may department stores co 4th qtr shr 138 dlrs vs 124 dlrs
at the same time he said the region experienced a greater rise in per capita income and lower unemployment than the rest of the united states and california
agency reports 41 ships waiting at panama canal
we telexed them saying that if they insisted we would rather cancel the contract and buy the product elsewhere santana said
both sides in the imf debate say the course they favour will enable brazil to avoid recession
they said the bank of thailands repurchase window yesterday received offers of about three billion baht of investment funds from commercial banks three times its normal daily amount
navistar nav up on higher earnings opinion
purolator announced earlier it was mulling a takeover bid but analysts wrongly predicted the offer was from another courier company
new dutch advances total 65 billion guilders
evans and southerland computer corp is raising 50 mln dlrs through an offering of convertible subordinated debentures due 2012 with a 6 1 2 pct coupon and par pricing said sole manager hambrecht and quist inc
imports of gas from canada are limited by pipeline capacity and importing liquefied natural gas on ships will not be feasible in the next 10 years because of the cost only about 6 trillion cubic feet of additional gas reserves were discovered last year while us consumption approached 16 trillion cubic feet according to industry estimates
italys la fondiaria to report higher 1986 profits
resumption of an ico contact group meeting with consumers scheduled for this evening has been postponed until tomorrow delegates said
twa earlier this month reported holding slightly more than four mln shares or about 15 pct of usair
dealers said federal funds were trading at six pct when the fed began its temporary and indirect supply of reserves to the banking system
canada okays vipont labs vlab toothpaste
safety kleen sk completes acquisition
the firm has nearly 97 mln dlrs of debt and preferred outstanding
omar said government revenue in 1987 88 would total 39 billion pounds
the company said a corporate wide reduction of its professional management and indirect labor will result in the permanent elimination of 183 positions in all functional areas of the companys business
the us insists the ec complies with what it regards as an unambiguous ruling from the world trade body gatt and dismantles an export subsidy system which has led to italy taking an increasing share of the us pasta market
i think there is no question that the private banks are aware of the views of the us government i am confident they will take those views into account when they make their own decisions bosworth said
centel corp cnt regular payout set
sri lanka imports all its annual needs of 17 mln tonnes
the start up of a swiss futures exchange has some bankers considering if a similar exchange would be useful in west germany
the bank of england said it had revised its forecast of the shortage in the money market down to 450 mln stg before taking account of its morning operations
trading on the singapore rubber market a major producer price indicator for japanese end users is usually active after the end of the current final session here
shr 38 cts vs 30 cts net 1356754 vs 1048340 assets 4485 mln vs 4074 mln
santana said if the saudis change their minds and decide to respect the terms of the contract then petrobras will lift the order to cancel the shipment
the american stock exchange said it today opened put and call options trading in the common stock of harcourt brace jovanovice inc
quantities offered at the auction also fell to an average of 300 tonnes per auction last month from 800 tonnes in december because of wintering in early february in producing areas
it attributed its reduced 1986 earnings to communications group losses resulting from continued heavy investment in new products and market development a four month strike at its toronto plants and delays in receipt of authorization from customers to start work on new programs
earlier gabelli said in a filing with the securities and exchange commission that it holds a 285 pct stake in digiorgio and that it together with gamco investors inc may seek control of the company
economic spotlight france awaits economic lift
national guardians revenues for the first six months of 1987 were approximately 72 mln dlrs compared to about 42 mln dlrs the year ago period
pharmacia said the financial deficit was caused by it having used more funds than generated by group operations mainly because of the 136 billion it paid in cash for shares in lkb produkter ab and the assets of intermedics intraocular inc
italian insurer la fondiaria spa lfdimi said it expects to report consolidated group profit in 1986 significantly higher than the 60 billion lire reported in 1985
in addition 260 mln bushels of grain that have been redeemed from ccc inventory through certificate exchanges would have remained in the goverment inventory he said
electrospace systems designs develops and installs communications and electronic systems and equipment for the specialized needs of military and commercial customers worldwide
the issue was increased from an initial offering of 40 mln dlrs
internatio mueller nv intnas said it will acquire promac controls inc of canada but declined to comment on the amount of the payment which will be in cash
the narrow range trading is also taking its toll on trading volume he noted
though this was above the march requirement of 507 billion actual holdings at the weekend were 442 billion
brazilian officials expect growth of only two pct after eight pct last year and a 30 pct drop in the projected trade surplus while independent estimates put inflation at 200 pct
dinner bell dinbo leverage buy out dropped
last month rubber importing and exporting countries adopted a new international natural rubber agreement in geneva
the venezuelan government has been criticised at home for failing to obtain new credits despite its insistence on repaying foreign debt according to the terms of a rescheduling accord reached last february
salomon analyst david sutliff said in a statement he sees 1988 earnings of 335 dlrs a share up from an earlier forecast of three dlrs for the year
nederlandse gasunie issues 100 mln dlr eurobond
but netbacks for crude oil refined in singapore fell sharply down 15 cts to as much as 68 cts a barrel as ample distillate supplies weighed on petroleum product prices
tankoku introduced in february 1986 were designed as a key short term instrument to promote internationalization of the yen
the facility to be used mostly for building a multi purpose dam and modernising educational and medical facilities and for sewer projects bears interest of 425 pct per year and is repayable over 18 years after a grace period of seven years
btr plc btrxl 1986 year
the restatement results from a tentative agreement reached in february with pertamina the indonesian state owned petroleum enterprise and japanese purchasers of lng
century telephone ctl to sell properties
the number out of work fell to 28439 down 1142 compared with the previous month
kellwood co said it signed a definitive agreement to acquire robert scott ltd inc david brooks ltd inc and andrew harvey ltd of dedham mass
banks express grave concern on brazil debt move
merrill lynch and co is issuing a 100 mln ecu eurobond due march 30 1990 paying 7 3 8 pct and priced at 101 pct lead manager banque paribas capital markets said
the us agriculture department increased its estimate of 1986 87 grain purchases by the soviet union to 28 mln tonnes up two mln tonnes from last month
firecom inc frcm 3rd qtr jan 31 loss
lawson told journalists he had been surprised by how much the psbr had undershot his original assumption of 71 billion stg for 1986 87 by some three billion stg
french jan m 3 money supply rose prov adjusted one pct o7 pct fall in dec official
mts said sosnoff has asked the company to fix march 27 as the record date for the determination of shareholders entitled to authorize action without a meeting including the election or removal of directors
the officials said negotiations will start next month on another 150 mln dlr loan sought by manila to carry out reforms in 14 major state owned corporations
in the weeks that followed the dollar continued to fall against the japanese yen despite massive dollar purchases by the bank of japan and other central banks and is now trading at around postwar lows
western officials say the lifting of sanctions and new mfn status will have little impact on poland which has a hard currency debt of 335 billion dlrs and lacks the means to modernise its industry
france has little room for manoeuvre oecd says
the nasd had alleged that no registration statement for the shares was in effect
exports in 1985 86 at 1241 vs 1241 last month
an alternative focus for commodity discussions are international study groups made up of governments with advice from industry such as those for lead and zinc and rubber
he said perelman in the process of taking revlon private after acquiring control of the cosmetics company two years ago probably wants to concentrate on improving revlons operations
parent company net banking earnings last year were also up at 139 billion francs compared with 1357 billion in 1985 while operating costs totalled 744 billion francs against 667 billion the previous year
but he did not say what if any changes are under consideration
gross fees of 1 1 4 pct comprise 1 2 pct for management and underwriting combined and 3 4 pct for selling
the suit contends that this fee hampers alleghenys ability to attract other offers or take other actions that would benefit holders of preferred stock
this represents just over 54 pct of the outstanding shares on a fully diluted basis
it said its outstanding 10 3 4 pct subordinated debentures may be used at face value to pay the exercise price of the warrants
oper shr 17 cts vs 25 cts qtly div 15 cts vs 15 cts prior oper net 1522000 vs 3501000 sales 980 mln vs 863 mln note prior year net excludes loss from discontinued operations of 1817000 dlrs
city national corp ctyn 1st qtr net
frontier frtro buys malpractice business
ec awards export licences for 25000 tonnes maize paris trade
the oecd said it assumed the german economy was passing through a period of temporary weakness and there would be some recovery in business confidence in the near future
several steel firms have announced plans to reduce their workforces citing weak prices and lower exports due to the strength of the mark and tough foreign competition
an undervalued currency will help those countries exports in the short term but in the long run they have to be concerned about how they are perceived in the international business community yeutter said
indonesia says it will extend oil contracts
members states of the organization for economic cooperation and development have pledged not to offer concessional credits on manufactured products sims said
1986 4th qtr and yr oper net exclude 606000 dlrs or 38 cts per share and 2323000 dlrs or 186 dlrs per share for net operating loss carryovers
the european community commission today appointed its chief spokesman hugo paemen as its top official in charge of multilateral trade negotiations a commission spokesman said
for currency dealers karl otto poehl is the scourge of speculators for bankers he is the man who has played a key role in shaping the worlds financial destiny for the last seven years and for germans he is the guardian of the mark
asea has operations in power generation and transmission transportation equipment pollution control and robotics
the three other lead managers are dncs parent company den norske creditbank scandinavian far east ltd and its parent skandinaviska enskilda banken
pittston said it agreed to exchange 0523 common share for each of the about 8612000 wtc common shares outstanding
sarney temporarily legalises dlr parallel market
domestic real demand increased 06 pct in october december after a one pct rise the previous quarter
royal business group inc roy 2nd qtr march one
morgan crucible says prospects are encouraging
releasing a letter sent friday to supermarkets general dart said we believe that an agreement can be reached which will be in the best interests of supermarkets general its stockholders management employees and customers
yeutter told figuerras that all agencies of the us government supported the us complaint and unless argentina took steps to eliminate the taxes the united states would consider taking further action in the case us and argentine officials said
durham said last month that the second quarter should match the first quarter when earnings rose about 11 pct to 168 mln dlrs or 49 cts a share
bi said chinas yards offered competitive prices guaranteed quality and prompt delivery
granma said 20000 head of cattle are now in imminent danger
time said these moves are part of a continuing effort to reduce the average cost of its debt and to increase its financing flexibility
european community ec delegates said ec consumers accepted the package in a morning meeting and predicted no problems in getting full consumer acceptance
the firmer tone to refining margins in europe and the us relected higher prices for petroleum products particularly gasoline and support from crude oil prices
he said the actual production during the 1986 87 season november may is about 480000 tonnes barely enough to meet local consumption
lerner said he accumulated the other one mln shares through march 3 and sold them to clevebaco lp which he controls on march 10 for 4010 dlrs a share
peoples earned 105000 dlrs in last years first quarter and in all of 1986 lost 1768000 dlrs
avnet inc said it filed with the securities and exchange commission a registration statement covering a 150 mln dlr issue of convertible subordinated debentures due 2012
it said 75 pct of early rice fields are ready to be planted and seedlings have already been transplanted on 90 pct of rice fields in hainan island
he said jwt would have no comment on an advertising age report that jacoby is considering heading up a venture capital syndicate to purchase a 35 pct stake in jwt group
last month balladur said french gdp had grown by just two pct last year compared with an initial 1986 target of 25 pct and 11 pct growth in 1985
cargill is reported to have withdrawn its enquiries for cargoes from south korea to india from constanza to india and from buenaventura to the us
atcor atco cuts dividend
the debt crisis has probably evolved beyond the capacity of commercial banks alone at least in some cases one top new york rescheduler said
duff and phelps today raised the ratings on general public utilities pennsylvania electric co
the federal reserve entered the government securities market to arrange two day repurchase agreements for system account a spokeswoman for the new york fed said
the remaining 50 pct of winter wheat crops do not have snow cover making winterkill possible on each of the next two nights
as long as the groups stake remains below five pct it is not required to disclose further dealings in material sciences common stock
usx corps texas oil and gas corp subsidiary and consolidated natural gas co have mutually agreed not to pursue further their talks on consolidateds possible purchase of apollo gas co from texas oil
it said the new unit will operate in new york pennsylvania ohio west virginia louisiana and texas and compete with other markets for delivery of low cost natural gas supplies
these cutbacks were due in part to buyer resistance to fixed prices introduced from february 1 particularly for fixed volumes over an extended period
chairman clive knobbs said in the annual report the mine was expected to mill a higher tonnage while capital expenditure during 1987 will be around 1185 mln rand
gros defended brazils recent economic record noting inflation slowed in february the trade surplus rose and the public sector budget was in operational surplus
the two year loan with bullet repayment carries interest at 5 8 of a percentage point over the london interbank offered rate
yesterday after a meeting of leaders of the ruling accion democratica party azpurua said venezuela had obtained two new credits of five mln dlrs each for export financing one from credit du nord of france and the other from the midland bank of great britain
the united states wants taiwans currency to appreciate faster to reduce taiwans trade surplus with the us a senior trade official said
the action was taken at the request of iraqs state trade organization for grains and foodstuffs and reduces the line for hatching eggs to zero and the line for breeder livestock from 150 mln dlrs to 80 mln dlrs the department said
this resulted in such deposits with domestic banks rising to 17830 billion yen by the end december a three fold increase on end december 1985 levels bankers said
two hundred feared dead in ferry disaster
alcan said the technology which reduces the weight of a cars basic structure by up to 50 pct can improve handling and performance and reduce fuel consumption for any size car
the company further stated that it is confident it will receive an objective review of the facts
exchange rates generally are regaining stability and the economies of industrialised nations are heading for a steady recovery he said
the european commission has not taken a decision on applications from the british government for the release of 200000 tonnes of intervention feed wheat onto the british market in may and june commission sources said
texas international co said it has completed the previously announced 120 mln dlr sale of its domestic oil and natural gas reserves to total compagnie francaise des petroles it said on closing it used part of the proceeds to retire all 100 mln dlrs of its us bank and us senior debt and the rest will be used for general corporate purposes
earlier scott reported a 1986 loss of 19 mln dlrs compared to a loss of almost 22 mln dlrs in 1985
the report describes the facilities in darlington county sc and fayetteville nc the company said
manhattan federal court judge shirley wohl kram said she would rule monday on whether to grant a request to block a 78 dlr per share merger agreement between burlington industries inc and morgan stanely group inc ms the request to bar the merger was made by samjens acquisition corp a partnership formed by financier asher b
exxon corp said that 1986s 15 pct increase in earnings per share to 742 dlrs a share were partially based on its streamlined operations which compensated for the weakness in its exploration earnings and the lowest crude oil prices in a decade
shr profit 10 cts vs loss one ct net profit 647390 vs loss 75967 sales 2120027 vs 1666908 note current year net includes 456004 dlr gain from debt extinguishment
finally virtually all major us chemical manufacturers have embarked on an extensive corporate restructuring program to mothball inefficient plants trim the payroll and eliminate unrelated businesses
mar 27 mar 20 feb 27 brent 1889 1919 1677 bonny light 1958 1975 1715 arab light 1849 1852 1607 urals cif 1902 1898 1654 refinery netbacks in singapore were also lower with heavier and sour crudes weakest
the issue is payable on april 15 1987
zambia imf talks hit problems over food subsidies
however the rating agency said upgrades will probably stay at about the same level as in the past few years
but they doubt the usefulness of the latest move
the bank has also agreed with banco portugues do atlantico a state owned merchant bank in oporto to exchange information on customers and help accelerate japanese investment and technological transfers to portugal he said
hall fbh earnings report qualified
cogeco inc said it agreed to acquire 100 pct of quebec city radio station cjmf fm and will issue subordinated voting shares of the company to cover a portion of the purchase price
moscow says will retaliate against gulf attacks
analysts see slow move to higher us prime rate
sao paulo state presidente prudente o6 mm votuporanga 120 mm franca 280 mm catanduva 100 mm sao carlos nil sao simao nil
p young said it had aquired 1905 pct of the shares of sorg inc srg to facilitate a newgotiated business combination
brand companies bran sees first quarter loss
mobil said it was confident 1987 would see a return to profit as it built further on its 1985 company restructuring
den danske bank af 1871 a s said it was issuing the first certificates of deposit from a danish bank and that the cds will be for six nine and 12 months or a negotiable period
industry sources said texas pacific has submitted lower reserve estimates for the field than statoil and shown little interest in its development
but only 433000 bales were shipped that year with the rest to be delivered in 1986 87
ecolab inc ecl 3rd qtr oper shr
aziz said he does not expect the change in system to have a major effect on total consumption but it may encourage better use of side products such as bran
the labour leader who now heads the inter union national workers command cnt was among 500 workers sacked by codelco following a strike in 1983
the bonds will be exchangeable from july 1 for shares on a one for one basis
three sets of measures have been announced since last may which broadened areas for foreign investment reduced trade restrictions and liberalised imports
he said the process of structural adjustment of the turkish economy to free market policies begun in 1980 was still under way
in selling to retail investors or smaller institutions you have to make a lot more telephone calls an investment banker pointed out
bally also acquired from golden nugget various parcels of real estate in atlantic city it noted
oil industry analysts said one reason for the stocks popularity of the stock is that it traded at a strong discount to its appraised value and was attractively priced for small investors
value line inc valu 3rd qtr jan 31
however the decline in the market made it appear that they could no longer justify the overhead
unadjusted merchandise figures show a surplus of 168 mln against 36 mln in january and 22 mln in february 1986
licht last week estimated west german plantings at a reduced 385000 hectares against 399000 last year
chile is said to have good catches in northern and southern fishing grounds with offers unchanged at 330 dlrs per tonne c and f north german ports
listing is in luxembourg
the bank also set a lira mark rate of 42915 43130 to the mark up from the previous 43050 43265
they have demanded a larger allowance for non member cocoa in the buffer stock than producers have wanted
the upgrade reflects general improvement in the companys financial condition duff and phelps said citing the partial restoration of service and rates to three mile island
enro holding buys enro shirt and foxcroft
american medical international inc ami net
by 1995 non socialist world primary capacity will need to be around 18 mln tonnes whereas on current plans only 15 mln tonnes are scheduled bird said
the dollar is expected to decline further in coming days as scepticism mounts about the effectiveness of last months paris accord to stabilise currency exchange rates senior foreign exchange dealers said
no signal is being sent he said that the kitty hawk is operating in an area where it usually does
other prime rates now range from 16 pct to 175 pct
the company earned 64000 dlrs in last years first quarter
at todays cabinet meeting nakasone told trade and industry minister hajime tamura to redouble his efforts to calm us anger over what it sees as japans unfair trade practices in semiconductors
they said the funds rates softer tone may indicate that the need to add reserves in the current bank reserve maintenance period is smaller than previously estimated
the unilateral boycott proposed by norways minority labour government gives domestic companies until late september to cut remaining trade ties with south africa and namibia
duffour et igons capital is comprised of 133100 shares with a nominal value of 100 francs each
after that director frank brand who had been executive vice president was named acting chief executive and director irving hellman was named acting chairman
governments represented at a meeting to consider a proposed forum for copper have recommended that another session be held in september to consider further the nature of such a group a spokesman for the united nations conference on trade and development unctad said
cairo stopped repaying moscow for arms purchases in 1977 when then president anwar sadat broke with its long standing ally and turned to the us
prebble said air new zealand was successful but its ability to prosper in future was hampered by its wholly government owned status
penn pacific corp said it plans to place about two mln dlrs of convertible debentures with persons outside the us through euro continental securities
us agriculture secretary richard lyng said no decisions were taken today at a white house economic policy council meeting
he said some progress had been made
a 300 mln dlr issue of notes was given a 7 7 8 pct coupon and priced at 9965 to yield 7926 pct or 70 basis points over treasuries
pioneer group unit gets more ghana gold land
31 1988 to pay for the aquisition of allied by campeau
novo industri earnings fall despite increased sales
washington natl wnt buys united presidential
this tender was part of a special tender for 500000 tonnes of spanish barley
although this will be the lowest level of maize deliveries since 1980 the sources said there is no danger of a food shortage in zimbabwe
although new credit needs were partly inflated by a large amount of issues maturing recently other factors including the governments tax reduction program would also reduce income next year
indonesian debt service ratio peaks minister says
insituform of north america inc insua 4th qtr
honan ethylene corps import requirements have risen to 8000 tonnes a month from 6000 tonnes last year to meet strong demand from honan petrochemical co which makes hdpe and ethylene glycol and hangyang chemical which produces low density polyethylene and vinyl chloride monomer they said
lisle ill based amphenol had 1986 sales of about 500 mln dlrs
trade surplus cut would benefit japan sumita
moodys investors service inc said it downgraded the ratings on six billion dlrs of debt of merrill lynch and co inc
vertex industries inc vetx 2nd qtr jan 31 net
no other terms were disclosed
there is no consensus so far among industrial countries on an agreement providing debt relief for the worlds poorest nations a senior us treasury official said
shr 15 cts vs 18 cts net 4500000 vs 5300000 revs 1567 mln vs 1520 mln year shr 72 cts vs 111 dlrs net 217 mln vs 330 mln revs 6954 mln vs 6535 mln note shr profit relates to class b non voting shares
coleco said it changed from a single product company to a more diversified organization through four major acquisitions last year
quebecor inc pqba the canadian publishing concern is issuing a 60 mln dlr convertible bond due may 14 1997 bearing an indicated coupon of 5 3 4 to six pct said merrill lynch capital markets as lead manager
at some time during that period all the producers cut support prices in response to growing surpluses
this was considerably above market expectations for a 650 mln dlr rise
the stake includes about 151 pct of revlon common and 95 pct of its series a preferred stock he said
the company said the start up was necessitated by continuing strong demand for aluminum and dwindling worldwide inventories and that the metal is needed to supply reynolds various fabricating businesses
florida public fput splits stock ups div
president reagan said the commerce department should be vigilant in preventing the flow of strategic technology from reaching the the soviet union and other communist countries
co managers are banque bruxelles lambert ka wah bank kyowa bank saitama bank sanwa bank and yasuda trust and banking co ltd
however 20 days following the acquisition of 20 pct or more of northeasts common shares shares or 20 days following the commencement of a tender offer for 30 pct or more of northeasts shares the rights will become exerciseable and separate rights certificates will be distributed the company said
diamond is the latest in a line of us oil companies that have cut its contract or posted prices over the last two days citing weak oil markets
the price of dome common shares fell five cts to 105 dlrs in trading on the toronto stock exchange today
there is a slightly better than even chance that the federal reserve will enter the us government securities market to add temporary reserves economists said
production quotas set for the first time in 1987 88 had been submitted to president corazon aquino
for the year ended march 31 1985 cenergy reported net income of 3705000 dlrs or 36 cts per share on revenues of 71 mln dlrs
there is nothing better than a free trade policy he said
the us commodity credit corporation ccc sold 6034 short tons of 1986 crop farmers stock peanuts for domestic crushing the us agriculture department said
qtly div 64 cts vs 64 cts prior pay may 15 record april 16
mcm corp said it has been forced to delay the release of its fourth quarter and yearend results until it can determine the effects on its balance sheet of a possible increase in liabilities at a unit
last year south korea ran a 43 billion dlr trade surplus including a record 71 billion surplus with the us and a 55 billion dlr deficit with japan
the original estimate of seedings of winter wheat was published in january
at the signing of the 40 mln dlr facility winston cox advisor to the central bank of barbados said he was looking to make greater use of the international capital markets to reduce the countrys dependence on multi national orgainsations
morgan expects taiwans overall trade surplus to grow to 185 billion dlrs in 1987 from 152 billion last year and koreas to increase to 65 billion dlrs from 35 billion
the 93 nation world trade body began the uruguay trade round last september
we are subsidising the production of mineral coal and steel to an enormous extent and at the same time putting a huge burden on all other branches of industry and making them uncompetitive he said
german industrial output rises 32 pct in february
dart group said it offers to buy supermarkets general at 4175 dlrs shr
this number has risen three to four billion dlrs a month for a long while he said so februarys weakness is not likely to persist
talks are due to begin in moscow on wednesday
southern national corp said its board declared a three for two stock split payable to shareholders of record on may 22
amsterdam is the third dutch municipality to use a commercial paper program as credit facility
one of the top executives of the international monetary fund imf has tendered his resignation charging that the united states has been pressuring the agency to reduce the conditions it places on some loans monetary sources said
the company said it expects earnings for fiscal 1987 ending june 30 to rise more than 75 pct over a year ago
creditors seek swift rescue package for japan line
van driel said he expected a 1987 us turnover of 700 mln dlrs
fob exports in the first 10 days of june rose 176 pct from a year earlier to 605 billion dlrs while cif imports rose 396 pct to 444 billion
the dividend increase will be effective with the april 30 payment it said
karasmasoglu world bank vice president for east asia and the pacific
trade issues straining ecs patience with japan
atpc members find ways to curb tin exports
production by the company taiwans largest steel maker is expected to rise to 333 mln tonnes from 327 mln a spokesman told 
oper shr loss 19 cts vs profit one ct oper net loss 1495000 vs profit 50000 revs 523 mln vs 489 mln note earnings exclude gains from utilization of tax loss carryforwards of 82000 dlrs or one ct a share vs 300000 dlrs or three cts a share
banca cattolica in 100 mln dlr cd issue
sterling investment group said it successfully drilled and completed a significant development well 65 miles southwest of houston texas
soybean oil constitutes almost 30 pct of vegetable oil consumption while palm oil is the most traded the department said
cold temperatures over the next month could cause damage under these conditions they said
united grain corp of oregon won two contracts for the supply of 110000 tonnes priced between 9244 and 9600 dlrs per tonne for september 1 15 and november 5 20 delivery
oper primary shr 103 dlr vs 255 dlrs oper diluted shr 94 cts vs 176 dlrs oper net 152 mln vs 234 mln revs 2720 mln vs 232 mln avg shrs primary 7625000 vs 5534000 avg shrs diluted 123 mln vs 103 mln year oper shr 106 dlr vs 317 dlrs oper net 39 mln vs 561 mln revs 8302 mln vs 6579 mln avg shrs 7490000 vs 5557000 note 1986 oper net excludes 104 mln dlrs for discontinued operations
other firms might not be so lucky he said and they could find it difficult to preserve their independence when the bull market ends
french say wheat stocks forecast no surprise
opec produced only about 14 mln bpd of oil in the second week of march 18 mln bpd below its ceiling largely because of pipeline problems in turkey and ecuador the middle east economic survey mees estimated
according to multifoods the actions proposed by bregman partners would prevent shareholders from realizing the full benefits of the companys restructuring
fruehauf said its board rescheduled the annual meeting to june 18 from may 7 to allow for completion and distribution of the 1986 results to shareholders
weiss predicted the pattern of quarterly lossses which characterized 1986 will be reversed and 1987 will see the company return to profitability
it must be approved by a majority of shareholders
we need time for those actions and the earlier depreciation to work their effects he said
this should be matter of priority for the executive board he said
the meeting had been expected to go on until tomorrow when the european communitys legal advisers were due to attend but delegates reviewed the progress of the various legal actions today
landmark said it realized a gain of about 11 mln dlrs on the sale
the number of workers employed in the west german industrial sector stagnated in the last quarter of 1986 as a 50000 increase in overall employment benefited only the services branch the diw economic institute said
investcorp raises 60 mln dlr facility
he said his department aims to accelerate its privatisation program and the sale of non performing assets owned by associates of former president ferdinand marcos to achieve a 1987 sales target of four billion pesos which would help finance land reform
i could see if things got really crazy that it might go for 175 dlrs per share said one arbitrager but he speculated it probably would not even be taken over for more than a price in the 160s
gatt economists said trade expansion would slow this year because of slower growth forecasts in japan and some west european nations as they adjust production and workforces to a low dollar risk of higher us inflation concerns over third world debt management and looming protectionism
cie bancaire a subsidiary of recently privatised banking group cie financiere de paribas paripa said it is issuing 235 mln new 100 francs nominal shares on the basis of one for five already held
he reiterated washingtons firm intention to retaliate if the ec goes ahead and bans imports of hormone fed beef without the issue being investigated by a gatt special committee
petriccioli speaking to reporters after a visit to the world bank said the loan was currently 985 pct subscribed a figure treasury secretary james baker used in congressional testimony yesterday
shr 202 dlrs vs 194 dlrs net 147 mln vs 139 mln revs 2656 mln vs 2351 mln year shr 283 dlrs vs 336 dlrs net 207 mln vs 241 mln revs 7391 mln vs 6869 mln note current year includes loss equal to 12 cts shr from takeover defense and loss of 13 cts from loss of investment tax credits
ocean bio chem inc obci year net
warner wci has 82 pct berkey inc bky stake
the developing worlds most indebted nation is also its most prolific exporter of agricultural commodities such as coffee and soybeans and might maximize foreign exchange revenue by selling hard on world markets economists said
us soybeans have competitive problem amstutz
armstrong tire co an armtek unit will continue to sell replacement industrial tires the company said
speculation a clearing bank might break ranks and lead the way lower were confounded today
i would doubt they would greenmail them but nothing surprises me anymore said rose
the petrobras statement said the shipment of 22 mln barrels will be made by the saudis on march 24 as scheduled
the bond will be priced at 99515 to yield 7585 pct
for this reason we in europe must avoid everything used by protectionist forces in the us as pretexts he added
the new bonds bear interest rates ranging from five to 525 pct and will be sold to the public he said
it gave no details
the commodity credit corporation ccc has reallocated 500 mln dlrs in credit guarantees from the previously announced undesignated line to provide additional guarantees for sales of feedgrains oilseeds and wheat to south korea the us agriculture department said
ecuadors consumer price index rose 25 pct in february to 5624 base 1978 the national statistics and census institute said
s p affirms ratings on att t debt
ptt according to statoil is currently negotiating with texas pacific to buy back the dallas based oil companys holdings in the field
tokyo is also eager to avoid any suggestion that a further yen rise might be needed to cut its trade surplus which last year amounted to a record 93 billion dlrs
shr loss 18 cts vs profit six cts net loss 509471 vs profit 163840 revs 2623974 vs 1835580 12 mths shr loss 18 cts vs profit 10 cts net loss 494352 vs profit 173948 revs 101 mln vs 3551429 note 4th qtr loss reflects 290000 dlrs of non recurring expenses related to senior management changes
shr 82 cts vs 63 cts net 1661000 vs 1251000 revs 148 mln vs 116 mln
mercury savings and loan msl 3rd qtr loss
mclean said sea land has tentatively agreed to pay 125 mln dlrs for six vessels certain port facilities and various other equipment used in us lines transpacific service and theree lancer class vessels and subsidy rights owned by the two mclean subsidiaries
dyr liquidating corp formerly dyneer corp said its board declared a third liquidating dividend of one dlr per share payable to shareholders of record on april 14 and said it will file a certificate of dissolution on that date
ec sugar tender seen as concession to producers
squibb is putting up over 75 mln dlrs in research and development to make it happen while the equity position part of the package is simply to demonstrate the seriousness of this partnership said fildes
moore mccormack resources inc said it agreed in principle to sell its globe metallurgical inc unit to cyprus minerals co cypm for undisclosed terms
asarco inc said it is increasing its base spot sales price for refined lead by one half cent to 2650 cents a lb fob delivered in carload lots effective immediately
extraordinaries comprise exchange losses 1029 mln provision for goldendale smelter closure costs 273 mln and increase in future tax provision 103 mln
operating revenues 54 billion guilders vs 59 billion
national distillers said at the time it bought enron it would sell the spirits and wine businesses moving more into the chemical area
corporate bond traders noted that chryslers sale occurred against the backdrop of a slightly weak secondary market
cable and wireless was due to take part in talks in japan next tuesday he said
last year the netherlands produced a record 12 mln tonnes of white sugar against a combined a and b quota of only 872000 tonnes
a 150 mln dlr issue of mead corp 30 year debentures was given a nine pct coupon and priced at par smith barney harris upham and co inc said as lead manager
prior year includes extraordinary gain of one ct per share
bangladesh money supply rises in december
the cargo priced at 21387 us dlrs per tonne c and f taiwan is for delivery between april 20 and may 5
bundesbank sets new repurchase tender
metropolitan said it already has an option to buy another 42750 metex common shares at 1125 dlrs each
opec reintroduced fixed prices on february 1 with a spread of 265 dlrs a barrel between its lightest and heaviest crudes
the company had previously announced that a major us based company that it did not identify was evaluating its nicotine technology
export growth has been revised downwards to 37 pct from 52 pct due to the pesetas continuing strength against the dollar and slack external demand
rubibira said the government is planning to build new silos in the main maize producing areas of iringa mbeya ruvuma and rukwa
mr judges objective in this investment is to make his corporations management expertise available to san miguel so that the companys assets can be fully utilised san miguel the countrys largest brewer is also one of the major manufacturers of grocery lines
the paper also printed an article by chinas commercial counsellor in its washington embassy chen shibiao who said that all kinds of difficulties and restrictions were preventing bilateral trade fulfilling its full potential
the republic of finland filed with the securities and exchange commission for a shelf offering of up to 550 mln dlrs of debt securities including notes and bonds and or warrants to buy debt securities on terms to be determined at the time of the sale
oper shr loss two cts vs loss 13 cts oper net loss 236000 vs loss 1131000 revs 266 mln vs 263 mln year oper shr profit two cts vs loss 15 cts oper net profit 286000 vs loss 1292000 revs 1053 mln vs 953 mln note net excludes discontinued operations gain 20000 dlrs vs loss 1291000 dlrs in quarter and gain 60000 dlrs vs loss 1590000 dlrs in year
it said the 12125 pct obligation will be priced at par and sold in the united states in a public offering managed by morgan stanley
it set up international farm corp of america in chicago last september to oversee the operation
quaker state oil refining corp said it signed a 100 mln dlr revolving credit and term loan agreement with a group of six banks for which mellon bank na is agent
the commission said it would ask geneva based gatt to rule on whether the section in question which officials said had proved a barrier to many ec exporters conformed to its rules
hata speaking at the first session of the two day meeting said agriculture is no exception to the goal of restructuring the economy but did not elaborate
swiss sight deposits fall 288 billion francs
mccrory currently operates 1250 stores in 38 states
zambian minister confirms copper diversion
becor western inc said its reconvened shareholders meeting has been adjourned to 1000 cdt june 30
peat marwick kmg main hurdman to complete merger
dealers said the intervention halted a sudden late morning drop to a low of 14865 yen holding the dollar steady until midsession at about 14880
brougham noted that so far the us banks have only reached 83 1 2 pct of the total that is expected from them while the level of contributions from the uk banks is well in excess of 90 pct
retail stores in these two countries will be providing additional funding for the program
brazil wants to resume interest payments on its medium and long term foreign debt as soon as possible and is willing to discuss ways of softening the impact of the payments suspension on bank earnings central bank governor francisco gros said
the new association is to be known as victor savings and loan association and its assets continue to be insured by the federal savings and loan insurance corp the fhlbb said
usx corp chairman david roderick called for a lower value for the us dollar against other currencies to help speed a correction in the us trade deficit which last year reached 170 billion dlrs
berisford wants to stay independent
analysts said jardine matheson will also enjoy sharply increased revenues from financial services mainly its 50 pct share of jardine fleming holdings ltd jardine fleming yesterday reported record profits for 1986 of 2095 mln dlrs against 1047 mln in 1985
ministers from member states ecuador mexico trinidad tobago and venezuela are attending the two day conference while colombia is present for the first time as an observer
net excludes tax credits of 62000 dlrs vs 41000 dlrs in quarter and 127000 dlrs vs 88000 dlrs in year
hong kongs broadly defined m3 money supply rose 22 pct to 60717 billion hk dlrs in january after a 31 pct rise in december for a year on year rise of 233 pct the government said in a statement
for the full year he said he expects the computer maker to earn about 240 dlrs a share
in addition to short covering heating oil found support from traders buying it against sales of gasoline and crude as well as from expectations for continued drawdowns in stocks as refiners shut down for maintenance traders said
a wall street arbitrageur who owns harcourt shares said the rumors did not make much sense because harcourt has announced a recapitalization plan to ward off a takeover attempt by british publisher robert maxwell its completely inconsistent with the recapitalization the only way is if they drop the recapitalization he said
us company earnings highlights
only these 18 japanese branches of foreign owned brokers would meet other existing requirements to participate
fees comprise 1 1 2 pct selling concession and one pct management and underwriting combined
federated department stores march sales up 49 pct
the daily did not detail 1986 output but said further production increases are anticipated in the years ahead as part of a policy of boosting domestic output to cut grain imports
in its newly released annual report to shareholders pennzoil said it expected the texas state court judgment which was upheld by a state appeals court on february 12 to be upheld if appealed again
he said if canada proposes an agreement where both countries get rid of six methods of trade restriction it would not be fair and might not win senate approval
standard and poors corp said it downgraded canadas province of saskatchewan
maize deliveries to zimbabwes state owned grain marketing board gmb will fall by over 65 pct this year following a prolonged dry spell agricultural industry sources said
earlier today bp said it planned to offer 70 dlrs per share for the standard oil cos srd publicly held stock
at the same time many of the conditions for faster growth remain favorable it said citing low inflation in most major countries healthy corporate finances generally lower interest rates improvements in state budget positions and more flexible labor markets
it had no meeting scheduled with the other three striking locals which rejected a tentative three year contract saturday cominco spokesman richard fish said
iran is pursuing the pipeline project to protect part of its oil exports from iraqi air attacks in the gulf
iran is claiming full repayment of principal and interest on the shahs loan made in 1975 to the eurodif uranium enrichment consortium
the company said it has extended the offer until july 2
issuing and paying agent is first chicago clearing centre
the company has changed its fiscal year to end sept 30
american express officials also pointed out the earlier statement issued march one said it is company policy not to comment on rumors or speculation
pico products inc ppi 2nd qtr jan 31
negotiators put final touches to new rubber pact
usda forecast south african 1986 87 corn exports at 210 mln tonnes vs 300 mln tonnes last month and 1985 86 exports at 275 mln tonnes vs 275 mln tonnes last month
four seasons hotels said it and vms realty partners of chicago have agreed to purchase the santa barbara biltmore hotel from marriott corp for an undisclosed amount
genetics institute inc and wellcome plc a british based pharmaceutical company jointly announced the selection of a site for their joint venture welgen manufacturing inc formed last september
china can further develop its foreign trade system so as to gain the maximum benefit from its gatt participation he said
philadelphia electric co is raising 250 mln dlrs via an offering of first and refunding mortgage bonds due 2017 yielding 940 pct said lead manager morgan stanley and co inc
if this is the case the three month cd rate will stay above four pct for the time being he said
pakistans exports under the agreement will include raw cotton cotton products cotton textiles steel products molasses naphtha and fresh and dried fruits
vms strategic land trust declared an initial dividend of 30 cts a share payable may 15 to shareholders of record april 20
factors depressing economic activity include the 6 1 2 year old iran iraq war on kuwaits doorstep which threatens the emirates vital oil export lifeline through the gulf and has sapped business confidence
undertone was very firm with dealers expecting a positive fiscal package tomorrow and if not more good economic news to boost sterling at least confirmation of the bull factors which have bolstered eurosterling and gilt edged bonds lately
interim income dividend 20 cts
transducer systems inc year
animal feed ship on fire again at chinese port
the bundesbank said west german public authorities borrowed a large 219 billion marks in credit markets in the 1986 final quarter compared with 148 billion in fourth quarter 1985
the yens surge has caused layoffs in the mainstay steel and shipbuilding industries
the american meat institute ame said it intended to ask the us government to retaliate against a european community meat inspection requirement
shr loss 220 dlrs vs profit 24 cts net loss 758 mln vs profit 116 mln avg shrs primary 359 mln vs 365 mln avg shrs diluted 393 mln vs 399 mln nine mths shr primary loss 704 dlrs vs profit 169 dlrs shr diluted loss 704 dlrs vs profit 164 dlrs avg shrs primary 359 mln vs 372 mln avg shrs diluted 393 mln vs 466 mln net loss 2434 mln vs profit 722 mln assets 334 billion vs 341 billion loans 108 billion vs 120 billion deposits 169 billion vs 170 billion note net includes fslic sepcial assessment loss of 5429000 vs 5193000 in qtr 1987 vs 1986 and 163 mln vs 160 mln in nine mths 1987 vs 1986
revenues for the year rose to 650 billion compared with the prior years 596 billion
the debenture carries a three year term and is convertible from april 1 1987 to march 31 1989 at 135 dlrs a share and from april 1 1989 to march 30 1990 at 150 dlrs a share
amoco an raises crude prices
morrison morr adopts shareholder rights plan
the qtr and year to date results include the operations since the end of october 1986 of a business purchase from martin marietta corp ml in fiscal 1987 ending may 31 the company initially adopted fasb statement number 86 and as required capitalized certain software deveopment costs
he did not elaborate
two people were missing and six injured after tanks containing thousands of cubic metres of fuel burst into flames today at a shell storage unit in lyon rescue workers said
izvestia says soviet winter crops need reseeding
and rochester minn
but he said the opposition parties should be careful not to raise false alarms too early the case now goes before the us commerce departments trade division to determine if a duty should be imposed
the subcommittee also projects annual economic growth for japan of nearly four pct over that period and a very gradual appreciation of the yen to about 130 to the dollar by around 1993 from 150 now
sri lanka to upgrade quality of coconut products
german 22 pct growth average seen to 1991
south western is one of the us s leading manufacturers of heat transfer equipment with a turnover of 5486 mln dlrs and pre tax profits of 172 mln in 1986
ecuadors cepe names new head
kidder peabody international ltd and montgomery securities are co managing the offering wyle also said
rafidains area manager adnan abdul karim al azzawi told the branch had now registered its capital at the higher level but did not say how long it would take to pay it in
the newly announced purchase plan is in addition to its existing anti dilutive stock repurchase programs
caribou energy reverse split approved
japanese keen to enter german primary bond market
computerland franchise owners pay royalties averaging 59 pct to the parent company
shr 66 cts vs 57 cts net 640 mln vs 529 mln nine mths shr 149 dlrs vs 164 dlrs net 1422 mln vs 1533 mln assets 1804 billion vs 1663 billion deposits 1397 billion vs 1278 billion loans 1254 billion vs 1081 billion
witco corp is raising 140 mln dlrs via an offering of convertible subordinated debentures due 2012 with a 5 1 2 pct coupon and par pricing said lead manager smith barney harris upham and co inc
the deficit is expected to total 289 billion dlrs in fiscal 1989 and 286 billion dlrs in 1989 and then fall to 261 billion dlrs in 1991
shr primary 115 dlrs vs 76 cts shr fully diluted 115 dlrs vs 76 cts net 408 mln vs 271 mln revs 3696 mln vs 2632 mln nine mths shr primary 295 dlrs vs 344 dlrs shr fully diluted 295 dlrs vs 333 dlrs net 1038 mln vs 1190 mln revs 106 billion vs 8978 mln
lex service plc lexll said it had acquired sears motor group ltd the retail motor distribution arm of sears plc sehll and an 119 mln stg loan note payable by sears motor for 334 mln stg
shr profit eight cts vs loss 184 dlrs net profit 785000 vs loss 4279000 revs 104 mln vs 8464000 avg shrs 9649000 vs 2664000 six mths shr loss nine cts vs loss 409 dlrs net loss 262000 vs loss 9689000 revs 192 mln vs 156 mln avg shrs 2874000 vs 2660000
inflation in turkey was 37 pct in march compared with 17 pct in february and 13 pct in march 1986 the state statistics institute said
output in the energy sector rose four pct and mining output 10 pct
the banks raised the prime to the current six pct from five pct on february 28 after cutting it 1 1 2 points from 6 1 2 on january 15 in response to upside pressure on the hong kong dollar he said
i dont think that the agriculture secretary said a us wheat subsidy deal to moscow would not be the kind of topic appropriate for discussion at a summit
this is not an attempt by squibb to become a major majority holder in cetus fildes told in an interview
clark said his forecast allowed for only a modest further increase in investment buying and may well be cautious
towle has not yet submitted a reorganization plan under chapter 11
no other details were available
american savings said the company said knolls offer to buy the new shares is not conditioned on other purchase of common stock from any person or entity
the european communitys cereal management committee rejected all bids to export free market soft wheat at todays weekly tender traders said
manfred laux general secretary of the west german mutual funds association in frankfurt said harmonized rules are to be adopted by october 1 1989 at the latest
the company said results of balloting on a new collective bargaining agreement proposal in its seattle division are expected to be tabulated at the close of business tomorrow
such a solution is still not in sight said nobel prize winning economist franco modigliani
there are currently 215 mln american express shares outstanding
it did not elaborate
us justice department reviews icahn usair filing
in a move that came a day earlier than most expected the fed today supplied permanent reserves to the banking system by offering to buy all maturities of treasury notes and bonds for its own account
the company said the costs of a restructuring at its carter hawley hale stores inc unit and the previous purchase of an 85 pct stake in cadbury schweppes plc will lead to the flat net figure
the complex task of wielding control over monetary policy in an increasingly fast moving global economy could be aided by tying policy to commodity prices the newest member of the federal reserve board says
rising service payments on kenyas three billion dlr external debt will absorb nearly all the 11 billion dlrs of foreign aid likely over the next four years president daniel arap moi said
american nursery products inc said it purchased miami based heinls nursery inc for undisclosed terms
the high and low plains accounted for 60 pct of the 25 mln bales produced in texas last year stillmann said
the organisations executive and marketing committees reviewed the current market situation during a series of meetings here late last week but took no major decisions
shr six cts vs three cts net 152360 vs 94141 revs 4073911 vs 4116333 note full name is international research and development corp
one intersection graded 033 ounce gold a short ton over 44 feet at depth of 1411 feet while the other graded 022 ounce gold a ton over 23 feet at 2064 feet the companies said
the bank of france said in its latest monthly report on the french economy it expected a pickup in industrial production registered in march to gather steam over the next few months
campeau acquired allied stores corp earlier this year the company said
japans plan to cut beef intervention prices for the fiscal year starting april 1 will not boost demand because of strict supply controls and a complex distribution system japanese and us industry sources said
we also announce today that these missiles are not the limit of our war capabilities in the gulf he added
if something was not to be delivered if the statement wasnt considered tough enough one might see a substantial outflow buttrose said
teeco properties lp oper income down
there is no reason to believe the paris pact has broken down a senior dealer said
three d departments inc tdd sets payout
the non callable issue is available in denominations of 10000 and 1000 stg and will be listed in luxembourg
peru will sell about 40 state owned firms to trim a projected 740 mln dlrs loss this year among government owned companies
we dont think that individuals or institutions buy our shares because we were one of the dow jones industrials spokesman ken cherney said in reply to a query
frontier insurance group inc frtr 4th qtr net
weatherford international inc wii 4th qtr loss
economic spotlight japan pushes its chipmakers
it said in most of europe and in japan raw materials and oil will cost less in domestic currency in 1987 than in 1986
sen
he added that the consortium which is arranging the deal had completed its preparatory work although the price had not been decided
the proposal will give the banks a choice of 5 8ths or the alternative ongpin said
it had help in that effort from jefferies group inc a los angeles investment banking firm which sold it an option on a portion of the shares sugarman eventually acquired
state run tanzania railway corporation trc has secured 256 mln dlrs aid from banks and european countries for a one year emergency repair program transport minister mustafa nyanganyi said
asked if the bank of japan will consider a further cut in its discount rate he said he now thinks the bank will have to carefully consider its future money policy
they expect only marginal gains if not small declines for these indicators compared with a february increases of 05 pct in industrial production and 09 pct in personal income
brougham said we british banks have always played along for mexico and will do so as long as others share equally the decision to send the telexes was agreed on by the six clearers jointly but each sent its own telex
shr 43 cts vs 55 cts net 6262000 vs 7948000 nine mths shr 130 dlrs vs 154 dlrs net 188 mln vs 223 mln assets 24 billion vs 21 billion note prior year amounts restated to reflect 2 for 1 stock split effective may 15 1987
it said it has entered into preliminary discussions with mitsui on the formation of a joint venture to finance the accelerated development of imatrons technology and its commercialization in japan
gross fees of 1 1 2 pct comprise one pct for selling and 1 2 pct for management and underwriting combined
the convertibles are rated b 2 by moodys and bb minus by s and p
on the failure of the recent ico talks arango said colombia understandably felt frustrated at not having managed to force a compromise
he said the dollar would not continue to fall because of underlying market concern about the rapid rise of the yen
the bonds currently dubbed alternative participation instruments would carry the same terms as the syndicated loan a 12 year term five years grace and an interest rate margin of 7 8 pct over eurodollar rates gonzalez said
canton telephone serves about 2900 access lines in northwestern pennsylvania and had 1986 operating revenues of about 1300000 dlrs rochester telephone said
levesque beaubien inc oil analyst robert plexman forecasts operating profit for 10 of canadas largest oil and gas companies will rise 37 pct in 1987 to about 144 billion dlrs and operating cash flow will increase 12 pct to 324 billion dlrs based on an average oil price for the year of 1650 us dlrs a barrel
american barrick abx unit completes issue
was 13288 billion pesos at the end of december 1985
butler btlr to sell part of unit
the inflow of long term capital into west germany slumped to 606 mln marks in february from januarys record 1191 billion with foreign purchases of german bonds and shares declining sharply the bundesbank said
shr profit four cts vs loss 49 cts net profit 160700 vs loss 1867100 revs 4700000 vs 5600000 year shr profit two cts vs loss 120 dlrs net profit 84400 vs loss 4507800 revs 205 mln vs 225 mln
qtly dividend 52 1 2 cts vs 52 1 2 cts pay may one record april 17
high point financial corp said it filed a registration statement with the securities and exchange commission covering six mln dlrs principal amount of redeemable subordinated debentures due march one and cancellable mandatory stock purchase contracts requiring the purchase of 666 mln dlrs in common no later than march one
in the paris currency accord japan promised a package of economic measures after the fiscal 1987 budget was passed to boost domestic demand increase imports and thus reduce its trade surplus
the fcc has not said when it would rule on the appeals according to a spokemsan for akron ohio based gencorp
the issue is unique in several respects and is only one of a handful of such deals to be brought to this market he said
the concept is a much more rigid one than the secret ranges of the paris accord and would mark a sharp departure from the relatively free currency markets of recent years
loan loss provision 8800000 dlrs vs 6300000 dlrs
geodyne geodo sets warrants acquisition
concord fabrics inc cis 2nd qtr oper net
we now wish to keep the countrys growth in order to be able to face the problems of the future funaro said
the investment company said after the merger the combined company will have 15 mln shares outstanding
the company said the start of the tender offer and the calling of the special meeting are conditions of the settlement and completion of the tender and merger are conditioned on final approval of the settlement
canada approves us gas exports by progas
under the plan stockholders will receive a dividend distribution of one right for each share of common stock held on march 23
soybean processors will continue to take seasonal downtime for maintenance if soybeans remain difficult to buy reducing the weekly soybean crush rate still further and keeping the spot soymeal basis strong dealers said
i would like to stress that the bundesbank has no interest in higher capital market rates he said
analysts said the market is still trapped in a narrow range desperately seeking direction
brazilian bank workers decide on national strike
underwriters said 22 firms bid for them far more than the number of managers who typically bid for corporate debt as wall street houses are trying to boost their share of the young taxable municipal debt market
the chairman of the port employers organization svz jacques schoufour said he was unhappy with the decision and added there was now no alternative to proceeding with redundancy plans
eleven contracts were terminated after no oil was discovered
more realistic estimates indicate that 1988 production will be between 15 and 16 mln tonnes the report said
loans to finance property development and instalment mortgages rose sharply
electro rent corp elrc 3rd qtr feb 28 net
the venture will focus on investment advisory asset management market research and consulting on financing
he declined to predict specific results for the first quarter
richard gluch jr resigned from the board
resorts said that prior to the merger ri acquisition would be capitalized with about 100 mln dlrs of debt and about 220 mln dlrs of equity
trading did not open in these issues either
as announced february 26 the staff builders shareholders meeting to vote on the merger originally convened and adjourned december 23 will be reconvened on april 22
theyve accomplished a great deal he said
it had closed at 15105 15 yen the previous day
cathay is expected to pay a 13 cent final dividend making a total of 19 cents for the year as forecast in the prospectus analysts polled by said
the open pit oxide ore reserves of alligator ridge will be exhausted by august 1987 as expected when the work force will be reduced to about 72 from 127 the company said
as a result van dyke calculated that the purchasing power of an average family of four will increase by a modest 540 dlrs this year compared to a surge of 1210 dlrs during 1986
it said at the time the shelf is issued the net proceeds from this registration and a previous registration together totaling 75 mln dlrs will be used in part to refund a portion of the companys outstanding first mortgage bonds and in part to reimburse a part of the funds required in earlier refunding activities
share market analysts said speculators were buying the stock on belief that harcourt would bid for reed in an effort to escape the unwelcome two billion dlr bid from robert maxwells british printing and communication corp bpcll such a move would have made harcourt too big for bpcc to take it over analysts added
goodman said it has no intention of making a full bid for the company and would not contemplate doing so over the next six months in the absence of a material change in the circumstances of ranks
white house spokesman marlin fitzwater said the administration had some disagreements with the trade bill that cleared a house subcommittee yesterday but generally felt good about the bill
the imf said that according to recent estimates the earthquakes will hurt the countrys balance of payments this year because of the loss of oil revenues due to destruction of part of the oil pipeline
motor wheel corp is raising 100 mln dlrs through an offering of senior subordinated notes due 1997 with an 11 3 8 pct coupon and par pricing said lead manager painewebber inc
shr 56 cts vs 63 cts net 48500000 vs 55400000 sales 153 billion vs 146 billion avg shrs 866 mln vs 873 mln nine mths shr 173 dlrs vs 179 dlrs net 150300000 vs 156200000 sales 460 billion vs 430 billion avg shrs 867 mln vs 873 mln note 1987 results include gain of 97 mln dlrs or 11 cts a share from sale of assets 1986 results include gain of 161 mln dlrs or 18 cts a share from sale of assets offset partly by a restructuring provision fiscal 1987 results restated to give effect to adoption of financial accounting standards relating to pension costs
scott is not in the best interest of shareholders and it does not plan to meet with the individuals
correction moodys cuts texas air in new york item headlined moodys cuts texas air tex affirms eastern moodys corrects that it lowered texas airs senior unsecured debt to b 3 from b 2 not the companys senior secured debt
world bank president barber conable said he believed brazils decision to suspend foreign debt interest payments is temporary
pope said that in volume terms nearly half of all gold eagle sales were within north america roughly 40 pct were in europe and about eight pct in asia
novo industri a s nvoco year 1986
a severe drought that summer in major producing states caused yields to tumble and final crop production to total only 42 billion bushels
brazils sept trade surplus highest of the year
the result is that the ec is often divided over policy on third currencies accentuating what the economists say is the systems greatest weakness its vulnerability to a weak dollar
consul restaurant corp said it extended the deadline of its exchange offer for its 13 pct convertible debentures due 1992 to 1700 cdt april 24
march is usually a tight month for the money market because of tax payments and banks need to attract funds for their year end accounts on march 31
manufacturing hours also fell back to their january level totalling 409 hours in march compared with 412 hours in february
the next ordinary meeting of the conference will be convened in vienna on december 9 1987
the spokesman said the relaxation of exchange controls highlighted a broader package of reforms announced last friday
uk earnings up underlying 775 pct in april
the council is expected to agree to reconvene either within the next six weeks or in september they said
velayati could not be reached for comment on the us attack on an abandoned iranian oil rig on monday which tehran vowed to avenge
shr 11 cts vs 24 cts net 419000 vs 938000 revs 162 mln vs 169 mln year shr 25 cts vs 95 cts net 952000 vs 3001000 revs 646 mln vs 688 mln backlog 303 mln vs 319 mln note 1986 net includes nonrecurring gain 383000 dlrs in quarter and charge 175000 dlrs in year
london traders said bids for licences have been reported between 4300 and 4400 ecus per 100 kilos and if any licences are granted they are likely to be towards the lower end of that range possibly 4330 4350 ecus
in the underwriting syndicate are abn bank morgan bank nederland nmb bank rabo bank pierson heldring en pierson mees en hope van haften en co citicorp investment bank the netherlands and swiss bank corp int holland
analysts contacted on sunday said the statement does little to clarify last weeks market speculation
national westminster said it was responding to general easing in money market rates
shore mentioned half a dozen other potential buyers for gillette including sir james goldsmith hanson trust plc han rjr nabisco inc rjr american brands inc amb and ralston purina co ral perelman is trying to put the company in play said a wall street arbitrageur
most of its companies performed well despite a slowdown in the us uk and australian economies in the first half
at that time the board will evaluate all the then existing offers for becor it added
the banks economist henry azzam said in a review of gulf capital markets that investors have to relinquish traditional investment vehicles such as real estate foreign currency bank accounts and precious metals
turnover in the first five months rose particularly strongly in the installations and automotive technology communications and telecommunications sectors but components and energy and automation showed a sharp decline
the bank said the purchase effective tomorrow is for five pct of private paper and fixed rate treasury bills maturing between march 25 and june 25 and of other treasury bills maturing between march 25 1987 and march 25 1989
matsushita electric trading issues warrant bond
vms mortgage investors lp vmlpz montly div
inflation was 83 pct in 1986
an investor group led by central national gottesman inc a new york investment firm and its executive vice president edgar wachenheim said they cut their stake in material sciences corp to less than five pct
storage problems with brazils record grain crop are likely to result in losses of about five mln tonnes an agriculture ministry spokesman said
greece yesterday signed contracts with the soviet union for the joint venture project the biggest investment in the country for 20 years
middle south utilities inc msu 3rd qtr net
he didnt say what he would or wouldnt do about it said ual senior vice president kurt stocker
ecuador will ask opec to raise its oil export quota by 100000 barrels per day to 310000 to compensate for lost output due to last weeks earthquake deputy energy minister fernando santos alvite said
ventra management inc an over the counter company said it acquired joint venture leasing inc for 60 mln venture shares valued at 36 mln dlrs
another 56 miners were trapped underground for as long as 24 hours before they were brought to safety
shr 30 cts vs 17 cts net 2526000 vs 1452000 revs 719 mln vs 252 mln year shr 120 dlrs vs 68 cts net 102 mln vs 4738000 revs 2915 mln vs 830 mln avg shrs 8511000 vs 6983000 note current periods include gain of 299000 dlrs in qtr and 12 mln dlrs in year from changes in pension accounting
some 80000 tonnes were held by banks and brokers after the international tin councils itc buffer stock manager halted support operations on the lme on behalf of the 22 members nations of the international tin agreement
fed data indicate no policy change likely
nippon light metal co ltd nlgtt which has annual capacity of 63000 tonnes will continue primary aluminium production at a rate of 35000 tonnes owing to low domestic and world prices and low water supplies at its hydroelectric power plant a company official said
within these constraints economists believe du plessis has little room to manoeuvre
recent official arrivals figures have been swollen by the inclusion of beans which had been delivered previously to port warehouses but not declared
indonesian coffee exporters are preparing for a period of depressed prices while urging their government to lobby for a resolution of the deadlocked issue of export quotas the chairman of the association of indonesian coffee exporters aice told 
commerce secretary malcolm baldrige predicted 1987 will be the fifth successive year for growth in housing starts after a 26 pct rise overall in february starts to a seasonally adjusted annual rate of 1851 mln units
in a filing with the securities and exchange commission emery said it would sell or lease purolators air hub in indianapolis ind which is currently under construction and would divest purolators stant inc subsidiary
was planning to take becor for about 2381 mln dlrs
they normally try to do things before the iggi inter governmental group on indonesia meeting in june to prove they are doing something about the economy to show they deserve a couple of billion dollars the iggi which groups 14 industrialised donor countries and four agencies gave indonesia 25 billion dlrs in soft loans and grants last year
morgan grenfell 1986 pretax profit 8219 mln stg vs 6882 mln
the bank of england said it forecast a shortage of around 250 mln stg in the money market today
an announcement late friday that the usda will lift the limited cross compliance requirement for the 1987 oats crop means farmers will be able plant an estimated two to three mln more oat acres this year than last without being penalized traders said
citicorp has estimated its profits for the first quarter would be cut by 50 mln dlrs if it put brazil on a cash basis
service industries unlike manufacturing industry were continuing to do well because they relied on consumer demand it said
us officials have complained to japan that american firms are being squeezed out of work on kansai and threatened to restrict japanese construction firms in the united states if kansai is not opened to us companies
much of the rise reflected quarterly interest payments
kenya has for a long time relied on britain pakistan egypt and to a lesser extent the united states as major markets for its tea the sources added
we have made significant progress over the last 30 days and we should have an agreement in a shorter lapse of time than managed by mexico venezuela or chile he said
the international development association said it approved a 114 mln dlr credit for india to support several water irrigation projects
the marketing year for wheat begins june 1 corn september 1 and soybean meal october 1
luckey said the banks total operating profits rose nearly 29 pct in 1986
near july traded at its session low of 1327 stg after one hour versus 1333 bid last night and an early high of 1335
zimbabwean coffee output will reach 13000 tonnes this year up on just over 11000 tonnes produced in 1986 the commercial coffee growers association said
the euroyen bonds once issued are mostly picked up by japanese trust banks one trader said
gross proven and probable reserves of crude oil and natural gas liquiids 184 mln barrels off 76 pct from a year before
bahrain is introducing a new domestic money market regime to provide dinar liquidity aid centred on the islands newly launched treasury bill programme
among the recommended buys are schlumberger ltd slb halliburton co hal dresser industries di baker international bko and mcdermott international inc mdr which may be the target of a takeover by harold simmons a dallas based investor
avana defence document forecasts profits rise
first boston salomon brothers and shearson lehman co managed the deal
he said the decision was also taken to build up loan loss reeserves by making a sizeable increase in the charges for general provisions for commercial and cross border risks barber said due to bad debt provisioning the asia pacific region made a negligible contribution to pre tax profits he said the profits contribution from the uk businesses was well maintained although the reported result was affected by cross border debt provisioning while californian subsidiary union bank showed continued growth tropical africa middle east and south asia all turned in excellent performances and the revival in europe continued he said
a deficit of some 800 mln to one billion dlrs was expected by one house active in the sector
king fahd of saudi arabia in an interview with and visnews on march 11 said the kingdom wanted oil price stability and called on non opec producers to avoid harmful competition with opec
the acp estimates this would result in a fall of 160 to 185 mln ecus in its member country exports
the mill produces softwood kraft pulp which is sold to other champion facilities and on the open market
cuts of two billion dlrs would be insufficient against the backdrop of a 12 billion dlr government deficit and a 14 billion dlr current account deficit it said in its monthly business indicators publication
other factors were pressure on selling prices because of a sharp fall in the prices of crude oil and petrochemical raw materials and the sale of polystyrene business in the us and netherlands
australian trade unions said they have launched week long strikes and other industrial action in new south wales nsw to protest against new laws that would reduce injury compensation payments
us certified coffee stocks down in latest week
successful bidders the amount of oil and price per bbl according to the doe continue as follows chevrons chv chevron usa inc 3000 bpd at 1451 dlrs and 4000 bpd at 1461 dlrs chevron international oil co 2600 bpd at 1441 dlrs and 2800 bpd at 1451 dlrs newhall refining co 6000 bpd at 1582 dlrs caljet inc 4000 bpd at 1532 dlrs casey co 4000 bpd at 1545 dlrs
none of gorbachevs proposals would change the system of economic incentives that has discouraged innovation and technological change the report added
we are losing our semiconductors which are at the heart of our national security subcommittee chairman james florio a new jersey democrat said
american motors march us car output down to 2578 from 5922
analyst telzerow estimated that the company would have to borrow about 100 mln dlrs to complete the proposed buyout since crazy eddie has cash and other assets worth about the same amount
it said neither has declared the loans due
greece and the soviet union have reached agreement in moscow on a joint venture for a 450 mln dlr alumina plant in greece government spokesman yannis roubatis said
malaysias national oil company petronas has advised the government to raise crude oil output to 540000 barrels a day bpd in 1988 from a current 500000 bpd a senior company official said
baker said in a us television interview on sunday that washington would reexamine the louvre accord because of west germanys increase in short term interest rates
the taiwan dollar which opened at 3424 to the us dollar today has risen about 16 pct against the us unit since september 1985
the commodity credit corporation ccc has authorized an additional 80 mln dlrs in credit guarantees for sales of vegetable protein meals to hungary for fiscal year 1987 the us agriculture department said
concerning dome petroleums 42 pct stake in encor energy corp ltd annesley said encor is a strategic investment for dome and we have no intention of selling it dome spokesman annesley said in answer to a question that he was not aware of any negotiations now under way toward the sale of dome petroleums 209 mln dome mines shares
six killed in south african mine
delhi is one of australias largest onshore oil producers yielding about six mln barrels a year from the cooper basin
moodys investors service inc said it may downgrade 700 mln dlrs of debt of dana corp and its unit dana credit corp
ah robins says rorer group merger proposal merits further consideration
mobil corps mob mobil oil francaise unit said it will take a stake of about 10 pct in the french butane and propane gas distribution company primagaz in exchange for the transfer to primagaz of mobils small and medium bulk propane activity
it added that any federal taxes owed on the transaction will be offset by operating loss carryovers
the expectation is either there will be someone else or the bidder will sweeten the offer hoping to get managements cooperation said larry baker an analyst with ef hutton group
the legal commitment to maintain these credits runs out on march 31 and the worried talk at the inter american development bank annual meeting here is that some disgruntled bank will sue for repayment raising the specter of a cascade of lawsuits and tit for tat asset seizures
the merger is subject to approval by the companies boards and shareholders and agreement of certain strata creditors among other things said the companies
southwestern bell votes three for one stock split 88 pct dividend increase
but they noted that mis match deals issues whereby the coupon is re fixed on a monthly basis were firmer
buyers reserve the right to phase down or out liftings should the monthly price be set at over 95 pct of arabian lights gsp
shr 19 cts vs 13 cts net 166000 vs 118000 rev 32 mln vs 25 mln year shr 34 cts vs 30 cts net 303000 vs 269000 rev 108 mln vs 102 mln
the 14th congress of the inter arab cambiste association also comes at a time when the prospect of a unified gulf currency system is more real that at any time this decade
others noted that exchange rates are stable after last months group of six agreement in paris and central bank money stock growth is still well above the three to six pct target zone so a change in credit policies could be ruled out
he said though it now appeared likely commission proposals for a tax on vegetable and marine oils and fats would be defeated he feared the commission would revive the idea
obviously the two firms did not want to issue floaters and face the risk of new zealand rates falling sharply an underwriter away from the syndicates said
it said subsequent quarters should show substantial improvement from first quarter levels but 1987 earnings will not reach 1986 levels as long as those conditions continue
he gave no more details
the important thing is that this rate of 7 8 pct is a marker for new negotiations and will save us 50 mln dlrs this year lusinchi said
c itoh and co ltd cittt 
under the offer resorts said holders of its class a shares would receive 15 dlrs a share in cash and three shares of common stock in the new company
it expects the deal to close in about 60 days
mcclain industries inc said its board declared a four for three stock split payable 30 record april 15
colombia the only major latin american country not to have rescheduled its external public debt has a total foreign debt of 136 billion dlrs
the department also said the guarantee line for sales of us wheat under the export credit guarantee program gsm 102 has been decreased 450 mln dlrs to 600 mln
national computer systems inc expects fiscal year earnings to improve by about 20 pct the company told analysts although it said the april 30 first quarter should show down earnings and virtually flat revenues chairman charles oswald said national computer has taken steps to improve margins
we are looking to a long term relationship and at a time of protectionist tendencies in the us congress there are clear benefits to both sides he said
glickman said rules for the reconstitution of farms and tightening up of the person definition for annual payment limitations is another option and could save 100 200 mln dlrs
grimes said as far as the distant months are concerned if our first quarter pig crop is up only six pct and under 60 lb inventories actually up only five pct it would take a tremendous discount in price for each percent increase for us to push down to the prices that the current futures show for the july and august period jerry abbenhaus analyst for age clearing noted that distant futures prices are already 15 to 20 dlrs lower than they were last summer
for six months the yield was 585 pct and the bids ranges from 556 pct to 560 pct with 30 pct of the bids accepted
despite businessmens ingenuity in finding ways around any artificial controls regulation of supply and demand should bring positive results watanabe said
last year japan racked up a 515 billion dlr surplus with the united states and economists said they do not see it falling significantly any time soon
company said it believes any refunds it may have to make would not materially affect its financial position
the bank has increased these loans in part because of the debt crisis that has found countries desperately in need of new funds for balance of payments adjustment and economic reforms aimed at opening their markets encouraging foreign investment and reducing governments role in the economy
some analysts also question the central banks decision not to copy the latest bundesbank discount rate cut and instead lower money market rates and abolish a credit quota surcharge
we need a stock index futures contract and a futures contract for recent government bonds one dealer said
camdessus said his agency had to study the problems of the ivory coast but a solution depended on a coordinated effort between the country itself the commercial banks other governments and international finance institutions
finance director niall fitzgerald added that while gearing debt to equity plus debt rose to about 60 pct at end 1986 from 35 pct last year this was expected to drop back to about 40 pct by end 1987
period ended january 31
the resulting trade surplus of 176 billion marks for january february compares with a cumulative surplus of 141 billion marks in the year ago period
recent heavy rains have not affected the peru coffee crop and producers are looking forward to a record harvest the president of one of perus four coffee cooperative groups said
qtly div three cts vs three cts prior pay may 20 record april 20
petro canada estimates the terra nova field graven block would produce between 25000 and 26000 barrels average daily production with a production system that would have maximum capacity of 40000 bpd company spokesman foulkes said in answer to a query
qtr ends dec 31 shr loss one ct vs profit two cts net loss 52922 vs profit 220041 revs 481832 vs 824554 six mths shr loss one ct vs profit four cts net loss 104129 vs profit 345515 revs 934685 vs 1465153
it has been syndicated on a club basis and signing is planned by the end of march
in other sectors the comet electrical chain raised retail profits by 46 pct to 174 mln stg while the woolworth chain reported a 120 pct improvement to 387 mln
soviet claims to be treated equally accountants
texaco also has eurobonds outstanding which are convertible into texaco inc common stock known as convertibles
enlarging on reforms washington would like to see baker said he wanted the iadb to play a much greater role in the us debt strategy for promoting inflation free economic growth open markets and a reduced government role in the economies of debtor nations
the year on year rise was 1964 pct up from 3583 billion at the end of december 1985
act in respect of any dividend paid by unilever plc has to be treated as part of the dividend
this represents a premium of 20 pct
colorocs corp clrx year loss
taiwan imported about 210000 tonnes of south african maize between january 1 and april 13 the joint committee of local maize importers said
and gm will raise the cash dividend 25 to 50 cts a share next year he predicted
bank negara said growth in external debt which declined progressively from a peak of 58 pct in 1982 to 136 pct in 1985 rose by 202 pct in 1986
an unstable lower dollar would also affect japanese investment in us bonds
slow growth of exports and a tight rein on state spending has lowered estimated gdp growth to three pct in 1987 from an earlier forecast 35 pct
lifetime corp said it agreed to buy five mln shares or 16 pct of nippon lace co ltd for 328 dlrs a share or 165 mln dlrs
other proposals include various excise taxes and combinations of import surcharges or tariffs including a 10 pct import across the board import surcharge that would raise 22 billion dlrs next year alone more in later years
national bancshares nbct to have gain on sale
japanese subsidies have dropped sharply since then partly because of tight budgetary policy and foreign currency factors have also changed he said
bankamerica says 1st qtr net to be cut by 40 mln dlrs due to brazilian loans
pioneer group piog unit gets more land
the rating service cited continued difficulties among royal bank customers particularly in the energy industry a continued high level of loan losses expected this year and relatively high sovereign debt exposure in relation to common equity
bank of ireland said it has mandated barclays de zoete wedd ltd bzw to arrange a 300 mln stg committed certificate of deposit issuance facility
chi chis said it believes the disposition of the restaurants has the potential of increasing its pretax earnings by about two mln dlrs next fiscal year
canada sets grant for eureka research
api said refinery runs in the week fell to 1217 mln barrels per day from a revised 1242 mln and refinery use of operating capacity was 781 pct off from a revised 797 pct
he said the dollar had fallen much less against currencies of important trading nations such as canada korea taiwan and hong kong and further falls there may still be necessary
same store sales declined 32 pct for the quarter and 22 pct for the year
but these short term difficulties should not be allowed to deflect japan from the fundamental reforms necessary he said
the acquisition will be satisfied by an initial payment of some 253 mln dlrs in cash with further payments of 500000 dlrs up to a maximum 263 mln dlrs
harsco corp hsc sets quarterly
contract prices have risen in response to higher spot market prices oil traders said
shr primary 99ct vs 82 cxts shr diluted 93 cts vs 78 cts net 7784000 vs 6357000 assets 325 billion vs 274 billion deposits 258 billion vs 224 billion loans 220 billion vs 181 billion
shr 57 cts vs 27 cts net 1002000 vs 470000 sales 159 mln vs 120 mln note 4th qtr figures not given
triguna set up in 1982 is owned 40 pct by mhi and 25 pct by c
in a speech prepared for delivery in new york to the bank and financial analysts association heller said i believe that increased diversification along geographic and product lines is the key to strengthening the american banking system he said he supported the idea of financial services holding companies advocated by the association of bank holding companies in which regulation of various bank thrift insurance investment securities and real estate subsidiaries would be handled on functional lines
murray said that as a result of lower debt and more efficient operations the company is now is a position to seize opportunities that may become available and use this strength in whatever way best builds shareholder value
jwp inc said it sold 30 mln dlrs principal amount of its 925 pct senior notes due 1996 to certain institutional lenders
federal reserve weekly report 1 feb 26 two weeks ended feb 25 daily avgs mlns net free reserves 644 vs 1337 bank borrowings 680 vs 425 including seasonal loans 81 vs 56 including extended loans 299 vs 265 excess reserves 1025 vs 1497 required reserves adj 55250 vs 55366 required reserves na vs na total reserves na vs na non borrowed reserves na vs na monetary base na vs na two weeks ended feb 25 total vault cash na vs na inc cash equal to req res na vs na one week ended feb 25 daily avgs mlns bank borrowings 614 down 131 including seasonal loans 88 up 14 including extended loans 304 up 10 float 511 down 320 balances adjustments 2101 down 67 currency 206490 down 519 treasury deposits 4208 down 63
imports for the december 1986 quarter were 2655 billion against 2883 billion in the september quarter and 2454 a year earlier
he said in a statement the idea with the foreign banks is to obtain from them the best terms to give the ecuadorean economy a complete relief in the period of deferral of payments on the foreign debt during the present year the statement referred only to payments due to private foreign banks a senior government finance official told 
standard oil said discussions with bp concerning the tender were continuing but provided no further details
the company said the action is effective immediately
it questioned the long term srategic value as well as a high price of about two billion dlrs
earlier the bank forecast the system would face a very large deficit today of around 175 billion stg
lexs existing automotive interests include volvo concessionaires the sole importer of volvo cars and parts into the uk lex said the turnover for sears motor group in the year to 31 december 1986 was 242 mln stg and that at the date of the acquisition the group had about 50 mln stg in external borrowings
earlier japanese trust banking sources said the ministry had asked them to moderate their dollar sales
it added gencorps board had an obligation to present any alternative proposal to shareholders in a way that allowed competing offers
the us and kuwait have been negotiating for over a month on methods of protecting kuwaiti ships
moodys said the companys prospects for improvement are limited by increasing competition in the food service industry and decreasing demand for the vending services that allegheny provides
hopefully we will not overreact by installing unnecessarily complicated procedures that may become obstacles to the real goal of providing an increasingly safer more nutritious and economical meat supply for consumers stanley emerling executive vice president of the national association of meat purveyors said
shr 10 cts vs 14 cts net 531896 vs 727781 revs 160 mln 168 mln six mths shr 30 cts vs 39 cts net 1532431 vs 2000732 revs 327 mln vs 345 mln
a company official said it won a 500 mln yen order to deliver 10 sets of casting equipment to venezuelas venalum by end 1987
this offer disproves the constant derogation of the sourthern pacific by sfsp management best exemplified by sfsp chief executive john schmidts comment in icc hearings that the southern pacific was bankrupt said rowland
it said a 20 mln dlr loan is being made to help finance a project designed to test strategies to improve the quality and cost effectiveness of agricultural extension services
trace products inc said its stock swap merger agreement with privately held central point software has been suspended indefinitely because of uncertainty in the stock market
if the idea of land reform is to increase income levels production and employment then it wont happen he said
the company said it has not been able to operate the businesses being discontinued in akron profitably enough to justify the large investment that it has in them
formation of the special committee was announced early last week when harper and row said its board had taken no action on two pending acquisition proposals
national computer nlcs sees earnings growth
net charge offs totaled 156 mln brining the loan loss reserve at the end of the qtr to 1205 mln
a foreign ministry statement last night hinted turkey was claiming victory
tesco is making an opposed 151 mln stg bid for hillards
mcdonnell douglas corp said it acquired frampton computer services ltd a british software company that is also known as isis
us house panel extends eep urges ussr offer
the us treasury said its auction of 976 billion dlrs of 52 week bills produced an average rate of 592 pct
energy secretary john herrington told congress that a federally chartered corporation would be the best way to manage and operate the governments uranium enrichment program
the spokesman had no further comment
no question about it
also affirmed were gms aa preferred stock and gmacs aa minus subordinated debt and a 1 plus commercial paper
michigan general corp said it began an exchange offer for its 110 mln dlrs outstanding principal amount of 10 3 4 pct senior subordinated debentures due december 1 1998
bankers said the request is a legal nicety since the money is subject to the moratorium
agency to review johnson johnson jnj sweetner
in 1986 the two firms neville lewis associates of new york and walker associates inc of la produced 156 mln dlrs in total fees
terms were not disclosed
17
there is not likely to be a problem of availability as the us has a huge scrap reservoir and this is also true of several european countries albeit on a smaller scale
drs said the deal is subject to approval by the rospatch board and the tender offer expires on march 6 1986
he said hitting the platforms had spared iran the embarrassment of casualties on its own soil possibly avoiding an escalating spiral of attack and counterattack
garcin said the new acquisition would substantially increase thomsons turnover in the sector
synergen sygn to make drug for ciba geigy
this takes the banks total help today to some 2096 billion stg and compares with its forecast of a two billion stg shortage in the system today
lyng said the us put high priority on talks on 12 farm products named in us complaints against japan to the general agreement on tariffs and trade gatt last year as well as on beef citrus products and rice
sensormatic canada ltd year net
the central bank bought dollars through tokyo brokers just before and after the market opening the dealers said
federal reserve board vice chairman manuel johnson said that the us s main industrial partners should expand their domestic growth
farmers enrolled 1894764 acres of corn base acreage in the conservation program to take advantage of a corn bonus rental payment that was offered by the usda which may underpin new crop futures they said
marine midlands 1986 fourth quarter loan loss provisions fell to 441 mln us dlrs from 892 mln a year before
a unanimous supreme court ruled that oil and gas exploration can proceed on two tracts off the alaska coast which were leased by the federal government to eight major oil companies
shr 15 cts vs 14 cts net 2547000 vs 2242000 revs 567 mln vs 440 mln avg shrs 176 mln vs 156 mln nine mths shr 54 cts vs 54 cts net 9249000 vs 8334000 revs 1733 mln vs 1343 mln avg shrs 171 mln vs 155 mln
us treasury secretary james bakers comment the paris accord did not have fixed dollar targets was seen as a renewed attempt by the us administration to talk the dollar down
the international monetary fund which recently reviewed the yugoslav economy is said by western diplomats to be alarmed at what it sees as a deteriorating economic crisis here and the possibility of balance of payments problems later this year
as long as there is a gap between prices set under the pact and market prices there will be people who want to exploit the gap to make money a hitachi ltd hitt spokesman said
japans current account surplus rose to 738 billion dlrs in february from 389 billion a year ago and from 495 billion in january the finance ministry said
according to consumer spokesman peter baron of west germany consumers werent perfectly happy with the buffer stock rules
the program was arranged by kleinwort benson ltd which will act as a dealer along with morgan grenfell and co ltd and swiss bank corp international ltd
there is no way out but to raise the subsidy levels of meal
the food including 30000 tonnes of cereals 6000 tonnes of sugar 4000 tonnes of beef and 13300 tonnes of butter has been distributed to the needy through charities
operating earnings however were off about four pct and analysts have attributed the decline to rockwells allen bradley unit which has suffered from weakness in the industrial automation market
an officer with s and p said at the time the rating agency was not told beforehand that the issue had been increased in size
tennecos nance also said that some us cities may experience peak day shortages in natural gas supplies next winter because of the industrys reduced deliverability
it has also asked for a reduction in interest rates and fresh credit
aero services aeroe in pact for nominations
sealed air corp see 3rd qtr net
turkeys central bank set a lira dollar rate for april 3 of 78250 78641 to the dollar down from 78000 78390
a number of us have already put in new money and there are plans for the export market he said
compaq computer corp said it expects sales and earnings for the first quarter of 1987 to be higher than analysts expectations due to strong demand for its products
this will mean a net negative cash flow as we pretty much spend our cash flow to find more oil and gas blackburn said the company will search for both oil and gas almost exclusively in estasblished basins roger hemminghaus who will be chairman of the new diamond shamrock refining and marketing co which last year had sales of approximately 16 billion dlrs told his company was taking on some debt
this would increase foreign pressure to open japans farm market further but this would have little impact on japans agriculture policy he said without giving further details
sec clarifies position on tender offer changes
precambrian shield takes 51 mln dlr writedown
santa fe southern pacific appeals merger ruling
asahi is selling 500000 shares in glaverbel while the company itself is issuing 340000 new shares
bsi was also seeking shareholder authorization for 200000 new participation certificates of a nominal value of 100 francs without rights for shareholders to back future convertible or warrant bonds or for other purposes
michael foods inc initial public offering of two mln shares of common stock at an estimated 13 to 15 dlrs a share through an underwriting group led by william blair and co
reichhold said it is entitled to redeem the rights at five cts apiece before a 20 pct position has been acquired or before an existing 20 pct shareholder buys an additional two pct or more of the voting power of the company or in connection with certain transactions afterward
australia may not be in the best economic position but there arent too many other countries where youd want to put your money the stronger australian dollar was also attracting investors taking advantage of an appreciating currency against the volatility of the us unit analysts said
they said the central bank bought between one to 15 billion dlrs today including direct purchases through brokers and yesterday it might have bought a small amount of dollars through the us central bank in new york
shr 113 dlrs vs 87 cts net 5010000 vs 3868000 nine mths shr 491 dlrs vs 484 dlrs net 218 mln vs 215 mln note current quarter figures include gain of 47 mln dlrs on property sales vs gain of 29 mln in prior years quarter
dana corp dcn debt lowered by s p
other eurofranc bonds this month are likely to include issues by a bank and a company both unidentified but no other details were available
dominion relied on the information provided by the insider jim ammeen nathan said
bangladesh sugar production almost doubles
despite the market reaction first boston corp analyst arlene barnes applauded the pacific gas decision
shr 20 cts vs 20 cts prior qtr pay may 14 record april 30 note full name zenith national insurance corp
sucralose is a chlorinated derivative of ordinary sugar
last years fall in oil prices and the loss of investment tax credit under the tax reform act made the project uneconomical even with government price supports and loan guarantees unocal said
said it had been given options by a number of sharp shareholders covering 67 pct of the common stock pending completion of a review of the company
the commerce department noted that loss of manufacturing jobs in march was concentrated in automobile electrical and electronic manufacturing
wilderness experience inc 4th qtr loss
west german m3 money supply rose a seasonally adjusted 26 billion marks in february to 10351 billion the bundesbank said
shr loss two cts vs loss four cts net loss 199010 dlrs vs loss 398202 dlrs revs 1284939 dlrs vs 359440 dlrs nine mths shr loss 10 cts vs loss 14 cts net loss 973542 dlrs vs loss 1298203 dlrs revs 39 mln dlrs vs 1269098 dlrs notethe third quarter ended april 30
trade says ec sugar tender hard to forecast
the reserve bank said m 3 money supply in march was 11077 billion australian dlrs compared with a revised 10911 billion in february and 9948 billion in march 1986
since most of our products are commodity based i cannot see how this would work out in our case lim said
the company said the restaurants in orlando tampa and jacksonville markets have incurred the majority of bojangles operating losses over the last two years
diamond shamrock dia to redeem debentures
international proteins corp said it has agreed to sell in a private placement 330000 common shares at 1175 dlrs a share to a us subsidiary of hanson trust plc
southern hospitality corp shos 3rd qtr feb 28
the reserves now total more than 51 billion us dlrs
1985 4th qtr and yr net includes extraordinary credit of 4974000 dlrs or 89 cts per share
however some economists said the fed may arrange more aggressive system repurchase agreements
old stone ostn completes acquisition
the expenses will be charged against fourth quarter results it said
mixon said the increases should come from internal growth as well as potential acquisitions
american petroleum institute president charles dibona said no options should be rejected to combat growing us dependence on foreign oil
he said tandems second quarter is traditionally slower than the first
hartford national corp hnat declares dividend
the crop reporting board said the estimates for the 1986 87 season are based on maturity and yields tests as of march 1
since the six nation accord last month sterling has risen sharply adding almost five pct on its trade weighted index
italys economic outlook for 1987 and 1988 is likely to be less favourable than last year with slightly lower growth higher unemployment and an increased trade deficit the organisation for economic cooperation and development oecd said
he did not elaborate
since the february talks broke down the market has fallen from about 13000 cents a lb to a low of 9810 cents a lb today as buyers and sellers sought to reassess supply and demand
national fuel gas co said its mail date for its previously announced two for one stock split is june 19 1987
commenting on the latest week a fed spokesman said that all of the borrowing occurred yesterday and was done by fewer than half of the banks
listing will be in london
the company also said it expects its snet systems business which is composed of some of its non regulated businesses to be profitable by the end of the year
terms were not disclosed
it is available in denominations of 1000 and 10000 canadian dlrs and will be listed in luxembourg
banks in the consortium are bank of tokyo international ltd industrial bank of japan ltd the long term credit bank of japan dai ichi mutual life insurance co sumitomo bank ltd mitsubishi bank ltd sanwa bank and yashouda bank and trust corp the bank of greece said
the hague and rotterdam preceded with programs arranged by algemene bank nederland nv abnnas details of the first tranche of the program are still unknown
originally the margin was set at 625 basis points for up to 50 mln dlrs and at 25 basis points for the remainder
guardian morton said the takeover bid will be conditional on sarlos acquiring at least 90 pct of the special shares and 90 pct of the series ii warrants when combined the number of special shares and warrants owned by the offeror at the time of the bid
bundesbank figures showed banks held an average daily 507 billion marks in minimum reserves at the central bank over the first 30 days of march the exact requirement needed just one day before the end of the month
habbel said turnover in 1986 rose to 99 billion marks from 96 billion in 1985 and looked certain to rise to over 10 billion this year
bethlehem steel said its composite prices for strip mill plates will be increased 15 dlrs a ton
the acquisition will take place through a voluntary conversion of lincoln to a federally chartered stock savings bank from a mutual federal savings bank
analysts also noted that part of the increase in the hog herd resulted from a revision of the december report and without the revision the march report might have been very close to average expectations
nordbanken is fermentas third largest creditor with loans of 155 mln crowns
the company said manitoba mineral resources ltd owns the remaining interest in the project which is located about 25 miles east of lynn lake
the selling concession is 1 3 8 pct while management and underwriting combined pays 5 8 pct
brown boveri und cie ag lifts 1986 dividend
we can say that at least we are saving some money he said
the bank of japan is rather confident currency stability will continue for some time the senior bank official said but declined to be more specific
malaysia raised output this month to current levels from 420000 bpd after reviewing the world oil market
helen of troy corp hele 4th qtr feb 28 net
loans extended by finance companies rose to 477 billion dlrs from 474 billion in december and against 534 billion in january last year while deposits placed with them dropped to 468 billion against 489 and 479 billion
state owned air canada said it will make a statement at 1100 est concerning a published report that the airline has agreed to acquire gelco corps canadian unit gelco express ltd an air canada spokesman said
in order for the other carriers to come down to twas wage scale in a merger twa would have to be the surviving entity analysts said
the week has seen good demand for thai raws particulary for october december shipment which has traded above twenty points premium to the october new york delivery it said
us 2 year note average yield 643 pct stop 644 pct awarded at high yield 85 pct
the company said it would report full year 1986 net income of 200 dlrs per share compared to 232 dlrs per share in 1985
china has to decide if it will increase sugar imports this year to cover falling domestic output and rising demand in view of market predictions that international sugar prices will remain firm this year traders and the official press said
the commission has yet to decide whether the maize will come in through direct purchases by the spanish intervention board or by a tender system
painewebbers geodyne energy income fund for example has said it plans to spend up to 300 mln dlrs on oil and gas properties
each of the five locals have separate contracts all of which expired april 30 but the main issues are similar
this will help prevent lower quality cocoa from malaysia the worlds fourth largest producer undermining the market
taiwan said it plans another round of tariff cuts possibly within a month to try to narrow its trade surplus with the us vice finance minister ronald ho said a high level economic committee recommended tariff cuts on 66 products requested by washington including apples chocolates and fruit juice
one dealer said this was the first time the ministry had made such a request to commercial banks
west german economists see room for further cuts in leading west german rates if the dollar resumes its decline
the chairman of goodyear tire and rubber co a concern that survived a recent hostile takeover bid charged that terrorists in three piece suits are undermining the nations industrial base
to counter falling oil revenues the government has launched a series of measures over the past nine months to boost exports outside the oil sector and attract new investment
analysts pointed to the recent sale of sydneys five star regent hotel to japanese interests for more than 145 mln dlrs as indicative of the type of property being sought
but obrinsky doubts that there is much more downward potential for rates because he foresees higher inflation and some overall improvement in the us economy
prices have been rising at about 15 pct a month
world bank sources said the banks lending to the philippines since 1957 including the latest loan totalled 43 billion dlrs
dean foods co expects earnings for the fourth quarter ending may 30 to exceed those of the same year ago period chairman kenneth douglas told analysts
west german ship sinks off west africa
investor group cuts rospatch rpch stake
we say that agriculture is urgent but its not the only urgent thing he said
transamericans bankruptcy proceedings began in 1983
assuming an 18 mln acre drop in plantings us corn production will also decrease significantly
a spokesman at the national strike headquarters in rio de janeiro said today a total of l63 ships were strike bound 135 in brazil and 28 in foreign ports
at issue are us meat exports to the ec valued at 132 mln dlrs in 1985
american express co climbed 2 1 2 to 80 1 8 on rumors the company was about to announce an agreement to sell 10 pct of its shearson lehman brothers unit to nippon blife insurance of japan traders said
much of our considerable optimism about the future is based on the strength of a continuing flow of new products exley told a meeting of securities analysts
edf to launch euro cp program monday
it said the liu hua 11 1 1 a well produced at around 2240 barrels per day at a depth of 305 metres
shr profit two cts vs loss 20 cts net profit 156000 vs loss 1816000 revs 8751000 vs 7123000
brockway inc brk 3rd qtr net
he said an investigation of the drug being conducted by a house subcommittee is continuing
they seem undecided on what to do with the fresh yen cash positions resulting from their dollar sales today and are sidelined until the currency market stabilises and the interest rates outlook clarifies a nikko securities co ltd currency trader said
general partners a texas partnership that recently ended its bid to take over gencorp inc told the securities and exchange commission it sold nearly all of its remaining 86 pct stake in the company
us oil demand as measured by products supplied fell 26 pct in the four weeks ended april three to 1573 mln barrels per day bpd from 1616 mln in the same period a year ago the energy information administration eia said
nippon life is japans largest insurance company and the worlds biggest institutional investor analysts said
he said carolina power intends to include the cancellation costs in rate filings it will make late this year or early next year
however dome said its management and financial advisers would evaluate all proposals including transcanadas
cpc cpc sees 1987 higher earnings per share
it said international operations reported a net after tax loss of nine mln dlrs compared with a 52 mln dlr profit last year
asked if the september 1985 plaza agreement was a failure because the dollar had fallen too far sumita said he still thought the pact was a good one in the sense that it had corrected the overvaluation of the dollar
adb sources said bank staff have been stationed intermittently in jakarta in response to government requests
api an industry group said that of the 42387 wells completed last year a total of 19741 were oil wells 8645 were natural gas wells and 14001 were dry holes
merrill lynch pierce fenner and smith inc has increased its underwriting commitment to 175 mln dlrs of subordinated financing debt for the viacom takeover from the 150 mln dlrs it agreed to underwrite earlier redstone said
however sims said he did not expect any plywood exports to be including under the lumber guarantee offer
palm oil output seen dropping sharply oil world
the pins option was subsequently modified to guarantee at least a 7 8 point spread over libor but many bankers still had grave reservations seeing it as a possible precedent for other large debtors to avoid paying interest in cash
obviously dayton hudson people feel whatever statutes we have would not protect them enough vanasek said
avia group international inc stockholders filed a class a action suit in multnomah county circuit court seeking to halt the sale of avia to reebok international ltd rbok avia stockholders also seek to receive compensation from the defendants who include most of avia directors according to court papers
kent rockwells father
spains consumer price index rose 04 pct in february after increases of 07 pct the previous month and 04 pct in february last year national statistics institute figures show
these include the possible acquisition of the corn products maize starch plant at haubourdin in northern france vernes said
todd shipyards corp said production workers represented by the multi union pacific coast metal trades district council at its san francisco division struck on april six
wholesale price declines were led by starch products down 13 pct light heating oil 11 pct lower heavy heating oil 10 pct lower and green coffee down 69 pct
ive always believed at the right price wendys would consider an offer but i cant believe this is the right price at the right time freedman said
moodys downgrades beneficial corps 34 billion dlrs of debt
british press magnate robert maxwell said his british printing and communication corp plc would not renew its bid for harcourt brace jovanovich inc hbj if the lawsuit filed against harcourt in new york today fails
he said the government and the international monetary fund had set the peso dollar 1987 target rate at 2080
it said malaysias external debt totals 48 to 49 billion malaysian dlrs and its debt service ratio exceeds 20 pct
allied supermarkets asu files proposed merger
italys gruppo ferruzzi is in the advanced stages of negotiations that could result in an acquisition worth some hundreds of billions of lire in the european agro industrial sector a company spokesman told 
while s and p noted that the energy markets have stabilized after last years collapse it stressed that 1987 would not mark a turnaround for this industry
an itc spokesman said the agency would forward its final report on the anti dumping case to commerce by april 22
results include extraordinary gains of 952000 dlrs or 11 cts per share in 1986 and 2569000 dlrs or 29 cts in 1985 from income tax reduction
construction of the 510 mln yuan plant began in april 1984
swiss sight deposits fall 464 billion francs
the rise took the percentage of the workforce out of a job to 110 pct last month from 109 pct in january and 107 pct at the end of 1986
there will be some impact on the real economy but it wont be that big said another
it had been a gesture to ease negotiations but the lack of an agreement leaves it no longer valid and exports could be above or below 155 mln bags he said
bank of america sees slow us consumer spending
lumber imports from canada fell 300 mln dlrs or 33 pct because of a 15 pct duty on imports from canada the department said
paramilitary police were guarding steel mills at reinosa in northern spain from the daily protests against planned job cuts
the development banks after tax profits rose 392 pct in 1986 mainly due to a dividend of 204 mln dlrs paid by national discount company ltd before it became a subsidiary of the bank they said
larkin co inc and hays securities corp said an initial public offering of 865000 common shares of mesa airlines inc is underway at 750 dlrs per share
someone should establish it a us sprint spokesman said
medtronic inc mdt sets quarterly
theyre the real winners from the agreement
in order to keep the international monetary system free of disruptions central banks should not only intervene jointly but also cooperate on interest rate policies koehler said
the commission has set a hearing on the rate issue for july 28
many of the specifications are more specific than the current categories used in australia it said
proponents of an expansion of 0 92 maintain there are large estimated cost savings of such a bill ranging from estimates by the administration of 200 to 500 mln dlrs
a department spokesman was commenting on remarks by commerce department under secretary robert ortner that the yen was undervalued 10 or 15 pct against the dollar but european currencies were fairly priced against the us currency
materials output increased by 02 pct last month the fourth consecutive monthly increase after declining throughout much of 1986
the company believes that the negotiation and implementation of the proposed debt restructuring plan is realistic and achievable dome said
sg warburg securities is the other co lead manager
italys response to protests by us soybean producers about the proposed european community ec tax on vegetable oils and fats had not been encouraging american soybean association asa board chairman george fluegel said
saudi success seen in curbing opec production
net amounts reported are before taxes profit sharing and contribution to employee stock ownership trust
bank economists said us pressure on west germany to further ease credit policies had receded since the paris pact
itel itel completes flexi van acquisition
when talks broke down the us and brazil the largest coffee consumer and producer respectively blamed one another for sabotaging negotiations by refusing to compromise
still other analysts believe currency futures have yet to peak
dealers in khartoums thriving black market said the dollar was sold at 55 pounds today
the may increase represents the seventh monthly rise with reserves up 9947 billion dlrs in that period and up 9816 billion since the start of 1987
phillips petroleum corp said it raised the contract price it will pay for all grades of crude oil by 50 cts a barrel effective oct 16
ryder system inc said it has acquired caledonian airmotive ltd from british caledonian group plc for undisclosed terms
new york business loans fall 718 mln dlrs
all three ministers involved in the reshuffle had spent more than four years in their posts
chien said taiwans trade will reach 80 billion us dlrs this year compared with 6396 billion last year
praising the role of multinational companies and local entrepreneurs in kenyas economy the minister promised to maintain a close working contact with the private sector
fhlmc had 14998210 preferred shares outstanding in 1986 vs 14998379 in 1985 owned by about 3000 member institutions of the 12 federal home loan banks
the bank of japan will sell tomorrow a total of 800 billion yen worth of financing bills from its holdings to help absorb a projected money market surplus of 1300 billion yen money traders said
there is no reason to make epac a martyr of the system barreto said
the 357 mln crowns paid in goodwill had a very limited effect on the 1986 result the novo statement said
south african foreign reserves up sharply in feb
if the banks reject the proposal out of hand however they run the risk of scuttling the talks for ongpin has insisted that he would not accept a margin above 5 8 pct
oman has granted term crude oil customers retroactive discounts from official prices of 30 to 38 cents per barrel on liftings made during february march and april the weekly newsletter middle east economic survey mees said
the current contract expires at the end of march
both the split and the dividend are payable april 30 to holders of record march 31
the itc voted 3 2 in favor of the anti dumping petition in its final ruling on the matter
china is currently forecast to export 55 mln tonnes of corn during 1986 87 oct sept it said
this compares with actual 1985 86 output of 570000
qtly div 26 1 4 cts vs 25 cts prior pay aug 14 record june 30
danish foreign minister uffe ellemann jensen said in an interview with the daily berlingske tidende denmark will not accept a ban on danish meat exports and i am sure we can reach an understanding with the canadians with the help of the ec danish pigmeat exports to canada were worth 106 mln crowns in 1986 while canadian exports to the european community totalled about 65 billion us dlrs
the national association of securities dealers inc
southmark sm sells national heritage stake
the may fall of 64000 was the largest drop since records were first kept in 1948 employment minister norman fowler said
shr loss 24 cts vs loss 13 cts net loss 619956 vs loss 340735 revs 172 mln vs 182 mln nine mths shr profit six cts vs loss 92 cts net profit 172384 vs loss 2437333 revs 577 mln vs 575 mln
in january the current account surplus provisionally narrowed to 49 billion marks from 85 billion in december
dixons offered 9025 dlrs in its tender
we have sacrificed a great deal already he said
to raise cash in the near term first city said it may sell or mortgage non strategic assets recover excess contributions to its pension plan and obtain special dividends from some of its member banks
but many economists say the system which holds eight european community currencies within narrow fluctuation bands remains in its infancy
banks which found this level unacceptably low would be offered an alternative of libor payments in cash and a margin above that of one pct in the form of philippine investment notes
leigh pemberton opposes takeover protection rules
good growing conditions the following year produced a temporao of 312 mln bags just below the 1983 317 mln bag record while last years output which also suffered some drought damage was 277 mln bags
he added japan might challenge the tariffs in the general agreement on tariffs and trade gatt but thats more of a paper kind of exercise and i dont really expect to see any adverse impact on us trade yeutter also said he did not see any way the semiconductor issue could be resolved before or during a washington visit later this month by japanese prime minister yasuhiro nakasone
ecuador posted a trade deficit of 713 mln dlrs in the first eight months of 1987 compared with a surplus of 4686 mln dlrs in the same period of 1986 central bank figures show
weekly car production estimated lower
he gave no details but said france wishes to have normal relations with iran
amoskeag amos proposes class b shares
nissan motor issues 35 billion yen eurobond
only a marginally narrower trade deficit will add to growth
sumita says major nations cooperated to stabilise currencies
it means they could become interest free loans if the korean currency continues to rise in value he said
gains were most pronounced on the commodity exchange in new york where gold jumped 1240 dlrs and closed at 43650 dlrs a troy ounce and silver 225 cents to 686 dlrs a troy ounce
it said closing is expected within 45 days after receipt of regulatory approvals
aero services international inc said it signed an agreement with dibo attar who controls about 39 pct of its common stock under which three nominees to aeros board have been selected by attar
as part of the agreement the two companyies are working together to establish procedures to produce class s a stringent military specification for space use gallium arsenide components
reynolds did not specify whether the legal challenges were dropped or dismissed
terms of the agreement were not disclosed
bohn said the bank was requesting a limitation of 1 billion dlrs for regular loan obligations of which up to 200 mln dlrs may be available as tied aid credits and a limitation of 10 billion dlrs for guarantee and insurance commitments
the issue has a coupon of 9 1 8 pct matures on april 7 1994 and is priced at 101 pct
group lifts stake in smith international sii 
it said it is prepared to negotiate its offer
he attributed this growth to declining electricity prices and a strong new england economy
yugoslavia is seeking a loan of 600 mln ecus from the european community for transport system modernisation deputy finance minister boris skapin was quoted by the official tanjug news agency
lb rheinland pfalz issues australia dlr bond
it is essential that we first reaffirm here our commitment to implementing that plan as scheduled hata said
ongpin said manilas 7 8 margin meant the philippines would pay about 100 mln dlrs a year in interest when its grace period ended
robin kline a dietitian and director of consumer affairs for the nppc said he was not surprised at the wide discrepancy between the study and the usda handbook
diplomatic and official sources said sudan was now only servicing debts owed to creditors bound by regulations banning them from extending fresh loans to recipients in arrears
in addition staff builders officers and directors own about 138 pct of its stock and have agreed to vote in favor of the merger
india reported buying two white sugar cargoes
the stockpile now contains around 10 billion dlrs of materials
figures include extraordinary credit from tax benefit of 42 mln dlrs in quarter vs 23 mln a year earlier and 42 mln for year vs 56 mln year earlier
houston metals said gold silver and the base metals have recoveries of 90 pct to 95 pct with 95 pct of gold recovered from better gold ores while gallium germanium and indium have recoveries of between 66 pct to 82 pct and are included in the zinc concentrate
the board first apprised the proposal on the 11th of march i suspect there will be several more meetings after this the spokesman said
london based dealer gill and duffus recently forecast 1986 87 ivory coast cocoa output at a record 590000 tonnes which compares with 585000 estimated for 1985 86
morning weakness in sterling and the gilt market was largely attributed to a newspaper opinion poll showing that the conservative governments support was slipping
they saw near term technical support at 1825 marks and 145 yen and resistance about 183 marks and 146 yen
the marplan poll published in today showed conservative support had fallen to 36 pct from 38 pct last month while the alliance of liberals and social democrats had rallied to 31 pct from 21 pct to run neck and neck with the labour party whose own support fell from 38 pct
we cannot contemplate giving up our control he said
full name of company is mobile communications corp of america
there is a flight to quality hamley said
treasury says only reagan baker speak on dlr
it said chinas industrial production this year has been normal but product quality and efficiency need further improvement
in the proposal theta said it was prepared to discuss all aspects of the offer including price structure and form of consideration and would be prepared to negotiate a transaction in which shareholders would receive a value in excess of 150 dlrs per share
durables manufacturing increased to 768 pct last month from 763 pct in january the fed said
the ec is the largest buyer of thai tapioca absorbing more than two thirds of the 58 mln tonnes of pellets exported by thailand last year
rexnord said the sale is part of a major program to divest several of its businesses representing about 200 mln dlrs in net assets
because of the seamen strike exports are being delayed and the country is losing badly needed foreign exchange
this compares with the governments 1986 87 deficit figure of 292 billion against an earlier forecast of 245 billion
doskocil dosk shareholders vote reverse split
the united states this week signaled it is pressing commercial banks increasingly disenchanted with providing large cash loans to debtor nations to develop new ways of financing that will prove more acceptable to both sides
insider trading is currently not an offence in this country
sgl has termed the 162 billion dlr offer unsolicited
it said residual fuel stocks fell 380000 barrels to 3804 mln from 3842 mln barrels
the funds will be used in the 700 mln dlr pacific petroleum project which includes the construction of a 267 km pipeline connecting nuevo teapa in the oil rich state of veracruz and salina cruz oaxaca on the pacific coast
although baker appeared to patch over the rift at a hastily called meeting with west german officials monday he still faced a storm of criticism on his return to the united states on tuesday
a blizzard warning continued this morning across most of western kansas
staleys investment in simsa no longer fit its overall coporate strategy and an agreement to sell the interest was completed in may it said
spiller said there is a natural fit between both banks
gold was fixed this morning in london at 41130 dlrs
singapore exchange plans options contracts
baker also told the policy making group that it was time for the imf to adopt earlier recommendations making imf surveillance more relevant to national policymakers and the public
the non recurrent earnings mainly derived from the firms sale of a 1575 pct stake in cathay pacific airways ltd caphhkg in april
state owned air canada takes over the countrys second largest overnight courier business just two months after another canadian company onex capital corp ltd approved the acquisition of number one ranked purolator courier ltd from new jersey based purolator courier corp pcc but analysts said the two acquisitions were prompted by financial restructuring undertaken by the us parent companies and likely dont represent an industry trend toward buying out foreign owned courier operations
he pointed out that the relief only applies to the development of new fields outside the southern basin
until the end of last week the central was holding out staunchly against market pressures for lower rates in an apparent effort to preserve the expected rate cuts for around the time of the governments annual budget on march 17
japan development bank is not allowed to raise euroyen
he gave no figure for 1986 profit
the bond will be listed in luxembourg
first tuskaloosa has assets of more than 425 mln dlrs
hadson corp hads offering of 375 mln shares of common stock through shearson lehman brothers inc and painewebber inc
citicorp said if dixons accepted the proposal cyacq would terminate its competing offer for cyclops
international lease finance corp filed with the securities and exchange commission for a shelf offering of up to 500 mln dlrs of debt securities in addition to 1575 mln dlrs of debt securities already registered with the sec but unsold
japan has assured a meeting of trade ministers it is making every effort to expand domestic demand and restructure its economy
included in the programs goals are strengthening private sector incentives aiding macroeconomic management and unspecified changes in transportion and agricultural policies the bank said
italy sets rules for company holdings in banks
leeds permanent issues 50 mln stg bond
the grain output of a major chinese grain producing province is not increasing because farmers lack incentives production costs are rising storage facilities are poor and there is not enough state investment in grain the provinces vice governor said
gokce said the only solution would be for compulsory auditing by international accounting companies
baldrige predicts end of us japan trade dispute
soybean sales of 240500 tonnes were one fifth below the prior week and nearly one third below the four week average
group shr 3599 yen vs 3828 net 2101 billion vs 2108 billion current 4773 billion vs 4806 billion operating 5504 billion vs 5499 billion sales 79271 billion vs 86428 billion note company forecast for current year is group shr 3770 yen net 22 billion current 52 billion and sales 800 billion
the credit line was agreed by a joint economic industrial commission
it was the highest pace for starts since april 1986
petro canada which will act as operator of the two wells has a 75 pct interest in the western portion of graven block of the terra nova field and a 26 pct interest in the fields east flank block a company spokesman said later
the us trade representative said the federal reserve under chairman paul volcker has done its part to improve the trade situation by getting interest rates down
next industrial transaction in may is syndication of a 35 mln us dlr loan to the shanghai ta chun tyre project
the notes have an 8 1 8 pct and were priced at 9963 to yield 93 basis points more than comparable treasury securities
economics minister martin bangemann said the state could not continue to pour money into west germanys ailing steel and coal industries because the subsidies endangered other parts of the economy
industry sources said the easiest plant to dispose of would be fos sur mer because it is a single refinery while the port jerome refinery is attached to a wider complex comprising a petrochemical plant and a lubricant production plant
it has 73 employees at its lexington facility four branch offices in the midwest and one in new york
dec 31 shr loss one ct net loss 176639 revs 150300 note company went public in april 1986
net 13185000 vs 6715000 nine mths net 262 mln vs 153 mln note company is owned by a consortium of european banks
john mccain an arizona republican told reporters
bankers trust bt raises prime lending rate
the october trade deficit narrowed to 3636 mln dlrs from 160 mln in september and 8379 mln in october 1985
the bond guaranteed by parent general motors acceptance corp is available in denominations of 1000 and 10000 dlrs and will be listed in luxembourg
the government is determined to ensure that papua new guinean ownership in minerals and petroleum projects increases in an orderly way he said
citizens first bancorp inc cfb raises dividend
standard and poors corp said it is keeping 230 mln dlrs of debt of caesars world inc and caesars world finance corp on creditwatch with negative implications
shell mobil and caltex are pricing 92 octane at 902 cents and spc and bp at 906 cents
the uk government said it would dispose of the holding sometime in the year beginning april one
although a vote in the monetary council to provide more funds for such purchases was deferred on technical grounds last week funds are still being released for subsequent approval
brentwood brwd files suit
the lay offs represent about two thirds of the original workforce
shell francaise returns to profit in 1986
the issue is callable from march 31 1990 at 104 pct declining by 1 2 pct per annum to par thereafter but is not callable until 1992 unless the share price exceeds 150 pct of the conversion price
in february and in march of this year japanese investors reduced their purchases of us treasury bonds the sources said
the deal is subject to approval by both companies directors
santa fe southern pacific corp may have more difficulty combining its two railroads than fending off a possible takeover by henley group heng which has accumulated almost a five pct stake in the real estate and railroad conglomerate analysts said
nova the canadian company that owns 56 pct of husky oil ltd said it received government approval for a transaction under which union faith canada holding ltd would buy a 43 pct stake in husky
cb and t bancshares inc said it has completed the acquisition of first community bancshares inc of tifton ga which as assets of 62 mln dlrs
she said there was some resistance to further climbs
the us is the biggest buyer of ugandan coffee most of which is used to produce instant coffee
there will be no layoffs associated with the refinery maintenance she added
in the corresponding year ago period it reported net earnings of 138 mln dlrs
it said it hopes the appointment will thwart hostile actions being pursued by two unsecured creditors to whose claims the company objects
hong kongs dairy farm says it bids for 22 pct of kwik save for 1466 mln stg
very good progress was made last year while the recent acquisition of chesebrough ponds inc cbmn was a significant addition which will greatly benefit the group in the years to come
in the latest of a series of trade disputes with washington the executive authority alleged that a section of the us tariff act was incompatible with the gatt general agreement on tariffs and trade because it discriminated against imported products in favour of domestically produced goods
funds will come from savings and fixed deposit accounts but just how much will depend on the bond yields loh told 
the sources said french traders planned to sell 775000 tonnes into intervention stocks west german traders 7500 tonnes and dutch traders 2500
the sources said no minister challenged narjes analysis that four or five hot rolled wide strip lines would have to close
movie theater magnate sumner redstone and a viacom management group are in a bidding war for viacom
the securities and exchange commission charged allied stores corp with failing to promptly disclose key steps it was taking last september to thwart a takeover attempt by campeau corp
altex aii sets acquisition of computer firms
the stock amounts to 1462000 shares and most of it was reported in an earlier 13 g filing
atlantic richfield said the divestitures are in line with its policy of focusing resources on oil gas chemical and coal operations
reichhold rci exploring sale of european unit
this means that total contractual commitments of 24555 bcf to the australian gas light co of new south wales and the pipeline authority of south australia can be met with spare gas available for sale in south australia it said
shr 104 dlrs vs 83 cts net 517 mln vs 394 mln
last month the ministry asked japanese chip makers to reduce first quarter output by 10 pct
west german 1986 sugar output rises
they said it would be possible the company might consider a leveraged buyout or restructuring to fend off the offer
american business products inc abp 3rd qtr
it offered one month funds at seven pct through swap facilities dealers said
william dannemeyer a california republican to require the us to pay investors one pct for the right to hold their gold investments in government storage
asked after his testimony if this meant the united states would close its markets to japan if they did not open theirs baldrige said im not prepared to say that but it certainly would be one of the alternatives studied baldrige said in his testimony japan had a closed supercomputer market and a restricted telecommunications market
he also said increased japanese domestic growth would result in more us exports to japan and would not necessarily lead to greater japanese capital flows to the us as gramm asserted if japan reformed its domestic capital market
waste management wmx votes split ups payout
arrivillaga said the remaining 10 mln dlrs was in the form of technical assistance available for disbursement during a 36 month period
bundesbank data
oper shr profit 18 cts vs loss one ct oper net profit 387832 vs loss 29312 revs 6872630 vs na year oper shr profit 39 cts vs loss 23 cts oper net profit 835010 vs loss 441836 revs 208 mln vs na avg shrs 2135909 vs 1885909 note excludes gains of 378000 dlrs or 18 cts and 715000 dlrs or 33 cts in current qtr and year respectively from benefit of tax loss carryforwards
after july 16 1990 each warrant will entitle the holder to acquire one bullet at a price of 100 pct of the nominal value plus accrued interest from the preceding coupon date
the 10 year bond which pays 10 pct and is priced at par is guaranteed by the parent company bell group ltd whose shares closed in australia today at 1070 australian dlrs
us trade data seen as key to dollar trend
fcoj movement 4496533 gallons last week
however she said the us remains a supplier of last resort for the soviet union noting that the soviets have only just recently begun their first us grain purchases of the 1986 87 season by buying 225 mln tonnes of corn
shr loss four cts vs profit four cts net loss 93574 vs profit 100469 revs 3125532 vs 3253239 nine mths shr loss three cts vs profit seven cts net loss 67184 vs profit 179116 revs 9125965 vs 9284055
the new fortune savings bank office had about 40 mln dlrs in deposits as of june 5
he said the inflow of foreign money into sterling assets earlier this year attracted by growth prospects and hopes that the ruling conservatives would win last weeks election now looks likely to prevent a base rate cut as the authorities try to prevent these funds swelling the domestic money system
the company declined to say how much the cost savings would amount to
about 800 mln dlrs of the purchases are in goods of the type south korea normally bought from japan
rimmer de vries senior vice president of morgan guaranty trust co said the us trade deficit problem is a problem of lagging growth in industrial economies prolonged currency misalignment debt problems of the developing countries and unbalanced growth in the asian industrializing countries
non communist february aluminium output up ipai
bank of tokyo curacao holdings nv is issuing a 120 mln canadian dlr eurobond due april 27 1994 with an 8 1 2 pct coupon and priced at 101 1 8 pct bank of tokyo international ltd said as lead manager
1987 qtr and nine mths includes loss 4850000 dlrs or 16 cts per share and loss 146 mln dlrs or 58 cts per share respectively from payment of preferred dividends
the bank said the project will benefit small and medium sized industries primarily in yugoslavias republic of slovenia
i think well still be able to get a reasonable trade bill out in spite of that because the whole congress is trying to work together with the administration but there is a hardening trade attitude he said
argyll added the agreements also depend on an indication from the uk office of fair trading by june 23 that the sale will not be referred to the monopolies commission
jp morgan jpm net hurt by brazil trading
nwa shares rose 1 5 8 to 74 3 8 in active trading
the authorities ordered government offices closed until wednesday
it said through yesterday it had received 7424292 shares under the offer
the turkish ore bulk oil vessel obo engin 78078 tonnes dwt had an explosion in its boiler yesterday lloyds shipping intelligence service reported
paris traders put the likely tonnage at around 60000
cyacq extends tender for cyclops cyl 
the 30 countries covered by the figures account for about 97 pct of world non communist steel production the institute said
the lesson of history is that once the inflation genie gets out of the bottle it continues to persist he said adding he would like the fed to tighten credit
final trust for thrift institutions payout set
cargo handling companies said they were hiring twice the usual number of dockers to offset an intermittent strike in spanish ports
the japanese finance ministry is expected to approve the deal in april making nippon life the first japanese life insurance firm to take a stake in a us financial firm
paralax said the acquisition is scheduled to close march 16
santos says profits hit by oil price fall
fhlmc frepr 4th qtr net
ropak said it is borrowing the funds needed to buy the buckhorn shares from its bank lender and will not need to use any funds that another bank had committed to provide under a margin loan
at the prior meeting in mid december the fomc set a seven pct target for m 2 and m 3 for november through march
canada central bank head sees moderate growth
other major issues of the meetings include a us bid to to have a larger say in approving loans of the inter american development bank strengthening the link between loans and economic policy changes in debtor nations
general cinema corp gcn class b dividend
such a move would destroy the cohesiveness that gives farm cooperatives an advantage in the market at a time that a few major commercial companies are growing dominant he said
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
france has sold a total of 200000 tonnes of soft wheat to tunisia since the begining of the current campaign which was covered by coface export credits
first boston corp co managed the deal
the group had a good overall year in north america the company said in a statement
the complaint asked the defendants be enjoined from proceeding with the reebok acquisition of avia
but the ceiling on mmcs with maturities of one year or less will remain the same or 075 percentage point below the cd rates
in its world production and trade report the department said in the past seven weeks reported us corn sales of nearly three mln tonnes to japan are about three times the level during this period last year
an unspecified number of people had fallen into the water it said quoting the pilot organisation in this south western dutch port city near the belgian border
drought cuts chinese wheat crop usda report
we wanted to remove our clients from the process unfolding between gencorp and wagner and brown he said
the letter of credit will be underwritten by a group of banks who will be paid a 20 basis point facility fee and a 25 basis point utilisation fee
northview corp said it reached an agreement in principal covering the acquisition of the company by privately held calmark financial corp
qtr ends september 30 shr 25 cts vs 13 cts net 759000 vs 383000 revs 9052000 vs 6829000
in a letter to the committees the bank group said commercial banks cannot be the dominant supplier of balance of payments finance schulmann said that imf exposure peaked in 1985 and has declined a bit since then
we the banks wanted more money and they the south africans didnt want to pay the new agreement will extend for three years the standstill arrangement that has been in place since august 1985 and which was due to expire on june 30
rockwood holding co rkwd 4th qtr net
petroleum operations are to be carried out by pertamina as operator through a joint operating body established by the two companies the pertamina spokesman stated
last month warburg pincus launched a tender offer to buy up to 25 mln symbion common shares
world bank launches 300 mln markka bond issue
however he said that both problems were cleared up during both afternoons and there was no evidence of any reserve impact
im sure theres an end to the expansion but we are doing this to accomplish our goal which is to regain the markets that weve lost to keep our products competitive and to let those particularly the european community who we are convinced are the worst offenders in terms of the export subsidization that we are prepared to continue to do this until we can come to some agreement to put an end to it he said
i would say japan is applying the full court press they certainly are putting both feet forward in terms of explaining their position fitzwater told reporters
us may drop tariffs if japan opens yeutter
usair u wins court order against twa twa 
utilicorp united corp said it expects to report 1987 first quarter earnings of about 12 mln dlrs or about 112 dlrs a share and revenues of about 190 mln dlrs
the investor group bought 50 pct of the common equity and supplied five mln dlrs in mezzanine financing
in addition chapman and troon will establish a 10 mln dlrs acquisition joint ventures it said
german analysts see gold rising in 2nd half 1987
in other sectors euroyen also maintained its firm tone
dome petroleum ltds proposal to restructure debt of more than 610 billion canadian dlrs includes provisions that may force the company to sell its 42 pct stake in encor energy corp inc dome said in a us securities and exchange commission filing
traders said that barring any surprises in tonights report they expect the report to be neutral to bearish for oil prices
completion is subject to the tender of at least 90 pct of the debentures and its lender to waive it from default under its loan agreements
as far as south africa is concerned it looks like very good news one source said
the loan is for 17 years including four years of grace with a variable interest rate currently 792 pct the bank said
donegal group inc dgic year net
at the gatt negotiators meeting next week canada is expected to offer a proposal as well as the ec
parliament also granted an 800 mln crown cash infusion to ease cash flow problems that arose when the bank lost 600 mln crowns in a shipping firm bankruptcy two years ago
calling on delegates to show a sense of purpose and reality he said there is no reason why we could not put aside differences and come up with a successor agreement
china and australias victoria state signed a joint venture contract for a 290 mln dlr aluminium processing plant in china that will export to south korea australian officials told journalists
columbia gas system inc cg redeems debentures
the issue is available in denominations of 1000 and 10000 stg and will be listed in luxembourg
french 13 week t bill average rate falls to 737 pct from 769 pct official
in targeting an oil rig albeit one said by the pentagon to have been turned into a military command post washington also sent a message that it might be willing to attack irans economic lifeline
but the bank of england will also be constrained from issuing gilts in the conventional form by its promise to try out a us style auction system in which firms bid for new stock
earnings per share after real tax not including the writedown 1238 crowns vs 1205 earnings per american depository receipt adr according to us accounting principles after real tax including the writedown 196 crowns vs 949 crowns
shr loss 24 cts vs loss four cts net loss 874986 vs loss 56182 revs 402855 vs not available note the company made its initial offering in march 1987 and before then had been a development stage company so no sales were posted in 1986
toronto dominion unit issues australian dlr bond
the current year has opened well with trading prospects remaining favourable burmah oil co plc burml said in a statement with its 1986 results
brazilian coffee institute ibc president jorio dauster said he will attend a meeting in managua this weekend
atlas the philippines biggest copper producer said it had been hit by depressed world copper prices
shr 34 cts vs 32 cts net 2891844 vs 2666278 revs 137 mln vs 127 mln
carrington said i am of course anxious to help in any way i can provided that both greece and turkey and the other allies wish me to do so
japans consumer price index base 1985 was unchanged at 997 in february from a month earlier the governments management and coodination agency said
anticipated improved cash flows will allow the company to invest and acquire much more aggressively than it has in the past few years weyerhaeuser also said
burmas debt service ratio will have fallen to 488 pct in the fiscal year to end march 1987 from 50 pct in 1985 1986 the official council of peoples inspectors cpi reported
malaysian primary industries minister lim keng yaik welcomed the basic accord reached over the weekend in geneva between producers and consumers on a new international natural rubber agreement inra this is a good development and if a new pact is adopted this week it will augur well for the rubber industry and prices in the long term he told here
chartered bank general loans outstanding fell 584 mln dlrs to 12758 billion dlrs
economists estimate that the governments spending target will rise to about 47 billion rand with revenue budgeted at around 40 billion rand
discussing the possibility of an acquisition panic said the such a purchase is necessary because icns current marketing capability would not be sufficient to support distribution of the companys products given icns expectations for market growth worldwide
now its our turn to see if we can survive cut throat competition said a source at one major japanese oil company
intl minerals project to boost hog lean weight
ultramar says fourth quarter showed improvements
he did not indicate what exchange rate levels were broadly sought by the six nations and noted that we are more effective in our agreement if we can leave the markets guessing he did not indicate what exchange rate levels were broadly sought by the six nations and noted that we are more effective in our agreement if we can leave the markets guessing leigh pemberton said that in principle the bank of england favoured full ems membership for sterling provided such a move did not endanger uk anti inflation monetary policy
mexico bought 51000 tonnes of us number two yellow soybeans in an overnight tender for various ocean and rail shipments in may private export sources said
it widened to 622 mln dlrs in january from 484 mln in december and compared with a deficit of 334 mln in january 1986 bank of korea figures show
in the longer run he worries about what trade tensions and the dollars slide will mean for securities markets
sales for the next marketing year which begins september 1 totaled 503200 tonnes and were mainly to iraq and taiwan
the december current account had a 100 mln crowns deficit against a yearago 200 mln deficitdecember trade balance was 23 billion surplus against yearago two billion
eagle pitcher industries inc epi 1st qtr net
john labatt ltd 3rd qtr jan 31 net
the bills are meant to soak up a projected money market surplus due largely to coupon and principle payments of a previously issued japanese national railways bond
uk money market gets 186 mln stg afternoon help
new york business loans fall 131 billion dlrs
woods said many nations hong kong canada switzerland singapore sweden malaysia and nigeria had supported the ec complaint during the heated council debate
william bywater president of the international union of electronic workers called on president reagan to retaliate against japan for unfair practices in semiconductor trade
1 the finance ministers and central bank governors of seven major industrial countries met today
shr 54 cts vs 24 cts net 633300 vs 300859 sales 152 mln vs 130 mln avg shrs 1165047 vs 1224982 year shr two dlrs vs 164 dlrs net 2379400 vs 2011924 sales 586 mln vs 540 mln avg shrs 1187828 vs 1223511
shr 135 dlrs vs 153 dlrs net 42137000 vs 47792000 loans 1026 billion vs 997 billion deposits 765 billion vs 763 billion assets 1184 billion vs 1200 billion note current qtr figures include 33 mln dlr charge resulting from penalties for prepayment of fhlb borrowings
the times of zambia which is run by the ruling united national independence party unip quoted official sources as saying the imf and world bank had refused to continue financing food subsidies and were pressing the government to explain how it proposes to pay for them
renouf extends benequity holdings bh offer
new rubber pact appears in the balance
an eventual issue of bonds convertible into fiat shares is not our responsibility the spokesman told 
some 50 pct of the purchasing managers reported that they were paying higher prices in march than at the end of 1986
standard chartered plc stchl faced with a recession in the key singapore and malaysian markets and an ongoing depression in the shipping industry boosted its bad debt provisions in 1986 chairman lord barber said
the loans have to be treated as non performing after 90 days without a payment
conable said the world bank which granted indonesia a 300 mln dlr loan last month to help its balance of payments was prepared to back jakarta in taking the right steps to adjust to lower oil and primary commodity prices
the shipping sources said irans sassan rostam and rakhsh offshore oilfields were attacked at 0700 local 0300 gmt by a wave of jet fighter bombers
on tuesday officials said treasury secretary james baker told secretary of state george shultz the idea was a creative one and signaled his approval to philippine finance minister jamie ongpin later that day
house farm leader sees billion dlr budget cuts
other states showing big enrollment were missouri with 646000 acres north dakota with 588000 acres and nebraska with 554000 acres
we hope this will lead to a long term export market for us lumber products he said the contract calls for supplying 21 mln board feet to 30 mln board feet of softwood lumber for housing construction and furniture manufacturing
yugoslav february inflation rises 72 pct
you dont want to put interest rates up unless you have to volcker told the senate banking committee
qtly div 21 cts payable april 15 record march 31
the president vice president former president director general and four other managers at the southern italian cassa di risparmio di calabria e lucania carical had been released but were still under investigation for an alleged embezzlement conspiracy
the analysts questioned whether houston based entertainment marketing founded by a former electronics retailer but whose present buinesses are primarily as wholesale distributors had the management expertise for retailing or was merely trying to drive up the price of the crazy eddie shares it already owns
api says distillate stocks off 407 mln bbls gasoline off 269 mln crude up 853 mln
sa belgo factors turnover in 1986 was 175 billion belgian francs
jordan today bid 74 dlrs per tonne for soft wheat and 75 dlrs per tonne for hard red winter wheat in its tender for 225000 tonnes of hard and soft wheat for april through november shipment
the cpb forecasting a rise in the budget deficit to 72 pct of net national income in 1987 from 63 pct last year urged the government to cut expenditure further to bring down the deficit and reduce tax and social security payments in future
pay date is may 18
kenyan minister forecasts economic expansion
domestically the economy may get a boost from some loosening of the governments tight fiscal policy said haruo muto manager of national economics at the bank of tokyo ltd
soviet union sets 45 pct industrial output growth
the rules would not apply to syndicated loan facilities revolving credits or commercial paper the bank said
anheuser busch cos is raising 150 mln dlrs through an offering of sinking fund debentures due 2017 yielding 8593 pct said sole manager dillon read and co inc
north carolina federal savings and loan association said it has raised its prime rate to 7 3 4 pct from 7 1 2 pct effective yesterday following moves by major banks
datrons officers hold about 73 pct of the total 896000 datron common shares outstanding
the five year deal is priced at par
the plan also contemplates the recapitalization of preferred stock whereby each share will be converted into three shares of common stock
finance secretary jaime ongpin said philippine investment notes pins to be offered to commercial bank creditors as part of the countrys 132 billion dlr debt rescheduling would revive the baker plan
the companys so called pathfinder prospectus gives all the details of its stock market flotation except for the price at which shares will be offered
spains broad based m 4 money supply rose at an annualised rate of 167 pct in february against 81 pct in january and 224 pct in february last year bank of spain figures show
this was the same formula used in the text of the louvre accord he noted
they saw the climate for equipment investment improving but predicted only a rise of four pct in 1987 against 46 pct in 1986
the rise in oil prices in late 1986 had little impact on the companys fuel oil bill last year as aviation fuel prices usually lag behind crude price movements by several months analysts said
thereafter livestock farmers would benefit from a predictable and stable grain price he said
we expect a much larger oil search in papua new guinea and discovery of much larger volumes of oil similar in quality to light bass strait crude fesharaki said
the government which has been in power since 1979 must call an election by june 1988
in terms of clearing our business as a unit as opposed to individuals there would be economic savings he said but added the times change and with changing times come different opinions of what businesses ought to be around cavanaugh said the possible demise of the futures arm had nothing to do with its profitability
taiwan issues more cds to curb money supply growth
petro canada believes terra nova field is a good commercial prospect and the company wants to move some of those resources towards development so it can start generating a return on investments petro canada said
net profit per share corrected for a share issue and stock split was 392 guilders in 1986 against 328 and dividend 155 guilders per nominal five guilder share against 130 guilders
qtly dividend 65 cts vs 65 cts pay april 15 record march 31
dominion calls burlington bur report rumor
it appears to be nearing a crossroads with regard to deregulation both as it pertains to investments and imports the report says
meanwhile the company said it raised its quarterly dividend to 28 cts a share from 25 cts a share in part on the expectation that its tax rate under the new tax law will result in greater cash flow
the regional carrier reported it flew 175 mln passenger revenue miles during the month up from 157 mln miles in february 1986
weve told analysts that iaes decision not to launch a full development program of the iae superfan for certification in 1991 will have no short term impact on earnings a united technologies spokesman told 
western financial auto loans 2 a unit of westcorps western financial savings bank subsidiary is offering 125 mln dlrs of bonds that are collateralized by car loan receivables said sole underwriter drexel burnham
shr 62 cts vs 19 cts net 961826 vs 226429 sales 228 mln vs 161 mln avg shrs 1543230 vs 1172039
tempo tpo to sell cable systems to eagle
accordingly it said it filed a registration statement with the securities and exchange commission for a proposed offering of three mln shares of its class a non voting common stock which reflects the anticipated dividend
the central bank was concerned about growing market expectations of higher interest rates which were in part responsible for the recent plunge in stock and yen bond prices the officials said
chinas first joint venture bank reports profit
it said the date of the special meeting has not yet been determined
usx corps uss subsidiary said that effective with shipments beginning july 1 prices for all leaded grades and 1200 series grades of hot rolled bar and semi finished products from its lorain ohio facility will be increased by 15 dlrs a ton over the prices in effect june 1
domtar sets two for one stock split to take effect may 14
the finance minister said the oil revenue projection is based on an average price of 1635 dlrs per barrel in 1988
continental said the estate of harold vernon and certain parties have signed a letter of intent to sell the stock for 1225 dlrs a share for a total of about 6538000 dlrs
morgan stanley said each share of preferred may be converted at any time into 06944 share of the companys common stock
the company also said claims for subordinated debentures would likely be paid at less than their 100 pct of their face value and general unsecured claims would likely be paid without interest
the carrier said it will provide shorter door to door transit times more convenient cargo availability and better rail connections for traffic moving between puerto rico and north america
the firms robert h
a merrill lynch canada spokesman declined to comment on the newspaper report when queried
non refundable for 10 years the issue is rated baa 2 by moodys and bbb by s and p
the indicated coupon on friday was 5 3 4 to six pct
zaires structural adjustment program supported by a 67 mln dlr ida loan and a 94 mln dlr african facility loan hopes to lay the basis for sustained economic growth the bank said
jones and vining said vulcan corp offers five dlrs a share for jones
bnp said that if all the warrants were utilised the total of the january 1987 issue would rise to 85 billion francs
as previously reported bank commitments to the new money package will also be reduced by 250 mln dlrs representing the interest payments that mexico will save this year thanks to the reduced spread on the rescheduling
the bonds will be listed in london and will be issued in denominations of one mln yen
qtr 1987 includes 446000 dlrs or 20 cts per shr extraordinary charge due to duction in utilization of tax loss carryforward
it paid total dividends of 130 dlrs per share last year equal to 26 cents per share adjusting for the bonus and share split
credo petroleum corp cred 1st qtr jan 31 net
it is a diversified agriproducts company which produces and sells industrial and consumer flour flour based products and baked goods
bp announced it was arranging the financing earlier today as part of its planned tender offer for the 45 pct of standard oil co that it does not own already
desotos industrial chemical operations are based in fort worth texas and has annual sales of about 17 mln dlrs
this issue is rated b 2 by moodys and b minus by standard and poors
the reserves are managed by the central bank and deposited at about 170 leading banks in the us japan britain canada and singapore
he said rumors of the spin off had been around for a couple of days baker said the unit was very profitable but it wasnt getting the type of exposure atlantic richfield sought and its value was not reflected in the companys stock price
preston corp said it expects to report a loss of about 300000 dlrs or five cts per share for the first quarter compared with a profit of 1081000 dlrs or 19 cts per share a year before
talking point steel companies
he also said he still believes a dollar exchange rate level plus or minus 10 yen from 170 yen would be within levels agreed upon last month in paris by six major industrial nations
london traders say the european community is likely to award a maximum rebate of 4680 european currency units per 100 kilos at todays tender while traders in paris predict a maximum award of 4640 ecus
the finance ministry said then the amount was low but noted a number of unfavourable market conditions at the time
james capels fellner noted that by being fiscally prudent lawson had kept open the possibility of an autumn election in that there would be no chickens coming home to roost richard jeffrey who favours the likelihood of a june election said it was important the chancellor had not gone for a budget aimed overtly at buying an election victory
the company also said none of the material was discharged within 12 miles of the closest shoreline
i strongly doubt that there is going to be any hostile takeover drexel burnham lambert incs houston based analyst john olson said putting little credence in the rumors
no intervention dollar fixed at 18063 marks
the fed is keeping policy at dead center and it is not about to change policy unless something fairly dramatic occurs on the economy said john williams of bankers trust co
over one third of australias indirect tax income is derived from oil at a time of falling domestic output and weak crude prices he told the apea annual conference here
a house agriculture committee meeting later today to draft a disaster aid bill is expected to spark a debate between lawmakers who want to expand the 0 92 or de coupling provision to cover feedgrains and those who oppose 0 92 or want it severely limited congressional sources said
the nine banks are oversea chinese banking corp ltd united overseas bank ltd banque paribas bangkok bank ltd citibank na standard chartered bank ltd algemene bank nederland nv banque nationale de paris and chase manhattan bank na
guardian trustco did not give a specific earnings forecast
during the interview durham and other executives also said continued strong demand and tight copper supply should lead to higher prices for the metal
abu al bukhoosh was producing 57000 barrels per day bpd at the time of the attack but the sources said it would resume at a maximum of half that level because of reduced staff and the fact only four of five wellheads were now operable
hughes will work with baker and the justice department towards negotiating the final form of the consent decree and filing it as soon as possible the company said in a statement
in addition the agriculture department last week projected a substantial drop in soybean acreage this year
for a one year extension of the maturity an extra 1 8 point margin will be paid with a further 1 8 point if the maturity is lengthened for the optional second year
furthermore more than half the oil produced from imported beans is re exported to third countries tanghe added
grade 97 octane with 015 gm lead will be 968 cents litre against 94 cents previously for 04 gm lead
the government having consistently overshot its own spending targets for more than a decade also faces a credibility crisis over expenditure figures outlined in the budget analysts said
because april 1 1987 is an interest payment date on the debentures no accrued interest will be payable on the redemption date as part of the redemption proceeds
shr nil vs nil net profit 24000 vs loss 66000 revs 235000 vs 93000 six mths shr nil vs nil net profit 40000 vs loss 153000 revs 394000 vs 99000
oecd consumer prices rise in february
another change introduced in the new inra is that price reviews will be held at 15 month intervals instead of 18
robert bruce industries brucao 1st qtr loss
belgian transport minister herman de croo told reporters i fear the dead could be in hundreds perhaps 200
februarys production figure fell slightly short of ypfs target figure of 290 mln cubic metres
bpi president and chief executive officer david r
lead underwriters josephthal and co inc emmett a
the institute whose forecasts are more pessimistic than those of the other four leading german institutes said the economy had passed its peak in the summer of 1986 and its prospects had dimmed significantly since the autumn
xerox corps uk unit rank xerox ltd said it agreed in principle to sell its south african company rank xerox south africa pty ltd to altron groups fintech unit
the transaction is subject to the approval of both companys shareholders the receipt of certain tax approvals and the continued employement of robert halmi sr and robert halmi jr the company said
the chairman said in the past two years akzo had spent 11 billion guilders on acquisitions of which nearly two thirds were in the united states
the value of the stock subscription rights should correspond roughly to the dividend of 30 francs per share paid in 1984
gosper said the results reflected heavy reliance on downstream oil and chemicals poor coal and metal returns and the financial burden of the north west shelf gas project
barnes group b expects sales to grow modestly
new england electric said it plans to issue 30 mln dlrs worth of pollution control bonds in 1987 and retire additional higher cost preferred stock
record or near record livestock inventories along with a dry fall which likely reduced late season pasturage and a cold winter have increased feed demand usda said
nz money supply rises 24 pct in january
another uk merchant bank analyst noted that the current vogue for eurosterling enabled several corporate borrowers last month to offer paper priced below comparative gilt yields
japanese banks were excluded from lead management of mark eurobonds when the bundesbank opened that market to foreign banks in may 1985 due to the lack of reciprocity for german banks in the japanese market
gordon would have the same posts with safco and independence president ronald g
im quite optimistic about carrying out a serious and quick negotiation treasury secretary mario brodersohn said on return from talks in new york with leading us and world financial officials
that could bring new rain patterns across the corn belt and assure good crop conditions as early developed corn moves into the crucial pollination stage in early july he said
revenue fell to 455 billion dlrs from 491 billion in an extremely competitive and over regulated environment chairman and chief executive kevan gosper said in a statement
alitalia spa azpimi calendar 1986
tender loving care health care services inc said it and staff buildiers inc have extended the term of their merger agreement until may 31
sec officials said the length of the extension in such cases would depend on the facts and circumstances surrounding each case but would generally be between five and 10 days
qtly div five cts vs five cts prior pay march 31 record march 16
china remains a cautious and popular borrower they said
bil has said it was the mystery bidder behind a recent stand in the market for three mln progressive shares
a lot will depend on spring weather not only for the outcome of the troubled winter grain crop but also for spring planting martell said the dry weather conditions last fall probably prevented optimal seed germination for winter grains
bejam group plc bjaml 27 weeks to january 3
some farm state lawmakers already are manuevering to find the budget savings
the current conference was widely seen as the last chance to clinch a deal
the agriculture ministry estimates japans edible oil demand will rise 15 pct in calendar 1987 to 168 mln tonnes from 165 mln in 1986
they believed these two firms were awarded bonds by the carmaker as well
it said proxy materials are expected to be maioled this quarter
he told reporters the major currency nations are determined to continue their concerted intervention whenever necessary to stave off speculative dollar selling in line with their february 22 currency stability agreement in paris
exports of goods and services rose 13 pct in the fourth quarter while imports rose only 29 pct statistics bureau figures show
us exporters report 350000 tonnes corn sold to unknown destinations for 1986 87
raimond said negotiations between the two groups took a long time because there were 20 countries involved
western acreage should be up at least 20 pct said one commission house analyst whose estimate was based in part on forecasts made by the national cotton council during its annual meeting in late january
but a matsushita electric industrial co spokesman said a rapid increase in imports was not likely
however ian harwood economist at warburg securities said his firm was sharply revising its 1987 current account deficit forecast in the light of the latest data cutting one billion stg off the expected full year total to about 175 billion stg
it fully agrees with the central banks policy director general julien geertsema told noting a 1983 decision not to revalue the guilder fully with the mark in the ems hurt confidence in the dutch currency
cut were its senior debt to ccc plus from b minus and subordinated debt to ccc minus from ccc
foreign direct investment in the united states increased 144 billion dlrs in the fourth quarter compared with 56 billion dlrs in the previous quarter because of stepped up acquisitions the department said
latin american countries exports fell last year by about 16 pct to 80 billion dlrs with imports declining slightly to around 65 billion dlrs mittendorf said
the bass group once thought by analysts to be eager to sell its holdings in taft broadcasting co emerged as another potential bidder for the ohio broadcasting company
theres something for everybody he said
during a presentation in february icn had said it would issue its first mark eurobond sometime this spring icn planned to issue a bond to provide funds to acquire pharmaceuticals firms and expand its marketing base daus said in a statement
swiss inflation is likely to rise in 1987 and 1988 because of inflationary tendencies in the domestic economy the centre for economic research of the federal institute of technology said in its spring review
instead they have focused on medium term policy goals but left room to adjust their agreements with periodic meetings
the usfsp is a seven calendar day average of feeder steer prices from 27 states based on auction and direct country sales for feeder steers that weigh between 600 and 800 lbs and are estimated to grade between 60 and 80 pct choice when fed to slaughter weight
details of the transaction were not disclosed
the report covering transactions in the week june 11 the additional corn resulted from changes in destinations
ec to mull new durum wheat intervention rules
as part of the transaction the company said it granted idc acquisition an option to acquire up to 20 pct of the companys outstanding shares for 16 dlrs per share
earlier the bank estimated a surplus of around 250 mln stg in the system today
snyder soi makes cenergy crg exchange offer
fed adds reserves via customer repurchases
to combat this the bank of spain has raised its call money rate 14 times so far this year to 145 pct at present from 118 at end 1986
lim said he could not estimate the amount of extra money which needed to be spent on research into new uses before the new paper was produced
baker hughes said the total of 758 working rigs in the united states included 84 rigs working in offshore waters
pldt is the largest of 58 telephone companies in the philippines
standard oils stock was up 6 1 4 in heavy trading to 71 1 8
qtly div 32 cts vs 32 cts prior pay may 15 record may one
canada panel advises cutting us corn duty
albert holderson knutson chairman said he expects earnings of about 40 cts per share for the quarter as a result of a strong mortgage business during the quarter
yankee said the sale will result in a loss of 15 mln dlrs
it said about 300 of these claims have been filed since confirmation of the joint plan of reorganization
the loan has a six year grace period and interest is at 1 8 pct over the london interbank offered rate for the first two years with the margin rising to 1 4 pct thereafter
jamaica corrects size of paris club rescheduling
the bill now goes to the house
a friday rumor had put the number far higher
the company said as consideration for services to be renedered it has agreed to grant richter five year warrants to buy 231000 common shares at 32 cts each exercisable starting in march 1988 and a negotiated fee on completion of any transaction
terms of the debenture have not been established
the foreign firms amoco occidental petroleum corp oxy mobil corp mob and a unit of ente nazionale idrocarburi are working in partnership with the national military office for strategic industries omnis roland ratsimandresy the director general of omnis said at a ceremenony to sign the extension of the amoco agreement that his department would intensify oil exploration with its existing partners and would soon offer a new round of exploration licences
so long as the groups stake in dba is below five pct it is no longer required to report its further dealings in the companys common stock
in the short term the kingdom can lessen the impact of lower oil revenues and a gaping budget deficit by drawing on foreign reserves still put at around 100 billion dlrs
it gained 26 mln new mouths to feed during the two years
anitec image technology corp is raising 75 mln dlrs via an issue of convertible subordinated debentures due 2012 with a 5 7 8 pct coupon and par pricing said lead manager smith barney harris upham and co inc
banking sources said the cost of liquidity through repurchase accords will not differ much from that on dollar swaps
a bank of spain spokesman qualified a bank statement announcing an extension of reserve requirements to convertible peseta funds held by banks saying the move applied only to future rises above current balances
oneill added that the elimination of daily limits would add caution to trading
the company said the 51 pct balance will continue to be owned by malaysia apera group of private investors
the delegate body attending the american pork congress in indianapolis approved a pseudorabies control and eradication program at the state level after a recommendation from nppcs prv pseudorabies virus oversight committee
we are going to see a very rapid decline earlier than usual this year in our us exports loewy said
us dealers said the new york federal reserve bank has intervened in the foreign exchange market today buying dollars against yen
the company as usacafes inc had paid a quarterly dividend of nine cts per share
it said computer technology by light signatures initially will be used to safeguard warranty glass
the issue was undersubscribed at a tender on february 18 but the government broker has supplied amounts of the stock on a number of occasions since then
finance secretary jaime ongpin told reporters yesterday the alternative proposal is designed to avoid an impasse when debt rescheduling talks reopen in new york on tuesday
1985 4th qtr and yr oper net exclude realized investment gains of 439000 dlrs and 666000 dlrs respectively
japanese personal savings grew 103 pct in 1986 from 1985 helped by a sharp increase in stock investments by individuals the bank of japan said
the us trade gap last year was a record 1698 billion dlrs and continues to rise with japan accounting for about one third of americas overall deficit
iran said to attack cypriot tanker
bundesbank dealers could easily have said we are not selling any treasury bills or were not selling them in this amount he said
volcker warned a further dollar fall might force the politically independent fed to drive up interest rates
the number one deposits reserves are contained between a vertical depth of 750 and 1200 feet at a strike length of 900 feet
the company said the panoche facility remains closed but is expected to reopen for liquid and sludge receipts in the near future
aim telephones aimt sells debt to shareholder
no injuries were reported
instinet said the filing of the preliminary merger proxy materials is tied to the finalization of audited financial statements of instinet and for 1986
hughes board had previously found unacceptable a us justice department consent decree that would have required broader divestitures
alaska housing finance was established by the legislature of the state of alaska in 1971 and has so far acquired 61 billion dlrs of mortgages originated in alaska
ceco said it financed the purchase through an increase in its existing credit line
treasury secretary baker declines comment on g 6
crop genetics international cropo 4th qtr
the debentures have an 8 3 4 pct coupon and were priced at 99055 to yield 115 basis points over the off the run 9 1 4 pct treasury bonds of 2016
tokyo is the worlds most expensive city for business travellers a survey issued this month by employment conditions abroad said
diagnostic manufactures medical immunological diagnostic test kits
foreign exchange dealers said the yen funds would be used to buy dollars to prevent a further dollar fall
venezuela has still to work out final details of its plan to supply ecuador with 50000 barrels per day of crude oil to compensate that country for lost exports caused by earthquake damage a senior petroleos de venezuela pdvsa official said
give or take 10 pfennigs and all is fine not all analysts played down the significance of the remarks however
the state bank of south australia is issuing a novel 50 mln australian dlr eurobond due april 8 1992 paying an initial coupon of 16 1 4 pct and priced at 101 pct lead manager swiss bank corp international said
its ridiculous to think the federal reserve will raise interest rates when the dollar is weak against just one currency
data architects inc drch 1st qtr feb 28 net
metropolitan owns 21 pct of metex common stock the company said
to offset this us exports must continue to rise returning enough jobs to the manufacturing sector to boost personal income and consumption he says
because of the high turnover of beans this year significant amounts have deteriorated because they were stored too long at the back of warehouses
french unemployment has risen by more than 40 pct from 18 mln when socialist president francois mitterrand took office in 1981
he noted the firm has suggested financial services as a key sector and he said it may add some insurance firms to its existing business
the bank said sterling bank lending grew by a seasonally adjusted 291 billion stg in february after a 170 billion stg adjusted rise in january
turkish banks announce higher profits for 1986
lead investor is investors in industry plc cityquest also has loan facilities of 30 mln stg
but unlike many analysts he doubted the uk will go in
reminded that senate agriculture committee chairman patrick leahy d vt had written two letters to lyng urging such an offer this official said lyng had received virtually no phone calls from lawmakers on the subject
global petroleum corp said today it raised the posted cargo prices for number six fuel in the new york harbor 20 cts to 145 dlrs a barrel effective today
disappointment at the lack of progress on quotas forced coffee futures in london and new york to new lows today traders here said
it said falling oil prices caused the downturn
donald keithley vice president dealer services for jd power a california based market research firm says that by 1990 12000 people will own dealerships compared to 16800 principal owners today
he told reporters his department is still considering whether to allow partnerships and other entities to qualify for the subsidy
chrysler corps proposed acquisition of american motors corp is valued at about 155 billion dlrs including the cost of acquisition and the 767 mln dlrs in american motor debt that chrysler will assume analysts said
us banks to get approval for securities business
tender loving tlci staff staf extend pact
eurofima is issuing a 125 mln ecu 7 3 8 pct bond due march 3 1997 at 101 1 2 pct lead manager societe generale said
raw sugar denatured and non denatured 4135 versus 4135 previously
the balance will be paid in october
heyman has decided to reconsider its offer to acquire gaf
this is amore realistic approach because the metals market is a 24 hours market and prices can move without limit oneill said
the governments over reliance on revenue from crude oil is adversely affecting australias economic performance australian petroleum exploration association apea chairman dennis benbow said
jamaica authorized to buy pl 480 wheat usda
but proponents of an expanded 0 92 argue that the bill currently is not equitable for all grains producers so it should be extended to other crops
feds johnson says louvre accord still vital
geodyne resources inc geodo 4th qtr feb 28
residents in the copperbelt contacted by telephone said government forces had set up roadblocks around the main towns
an arbitration panel set up by president corazon aquino to resolve the ownership issue is expected to submit its report by april 15
msa realty corp sss 4th qtr net
but for the first time since the formation of the six nation gulf cooperation council gcc in 1981 there are signs that a much mooted currency union could come into force soon
he added that in light of the declining demand for steel capacities had to be adjusted saying the bonn government would not successfully be able to stand in the way of any change in this industry
but the foreign banker who asked not to be named said it faced internal competition from the industrial and commercial bank
life of indiana corp lifi 4th qtr loss
university genetics co ugeno 3rd qtr loss
an important feature of the aid program is a decision to let companies issue flow through shares allowing investors to benefit from the subsidy rather than restricting benefits to only participating companies he said
malaba is now handling only 10 pct of the trade and all the coffee and oil goes through kisumu he said
the revised adjusted january index was down 05 pct from december when it rose 36 pct from a month earlier
sept 25 end primary shr 31 cts vs 22 cts diluted shr 30 cts vs 21 cts net 5019000 vs 3165000 revs 801 mln vs 572 mln primary avg shrs 16306000 vs 14495000 diluted avg shrs 17266000 vs 15827000 nine months primary shr 127 dlrs vs 107 dlrs diluted shr 123 dlrs vs 103 dlrs net 202 mln vs 155 mln revs 2445 mln vs 1815 mln primary avg shrs 15875000 vs 14495000 diluted avg shrs 16853000 vs 15280000 note results are pro forma assuming that company was public throughout 1986
continued state subsidies would not save them but would only prolong their lives artifically for a few years he said
tandem computers inc said it expects higher earnings and revenues in its second fiscal quarter ending march 31 against a year ago
kroger expects to take over operation of the stores one of which is under construction in late april
it has purchased 15 mln barrels of iranian heavy for april shipment for refining in singapore
the company said the actions being taken under its restructuring program including the sale of its european corn wet milling business and other assets overhead reductions and other expense items and the asian transactions will have a one time positive effect on 1987 earnings
for the developing countries the gross domestic product another measure of economic growth was expected to fall to 30 pct from 35 pct last year
studies concerning the possibility of widening the gaillard cut would not be affected by the landslide he said adding that he expected the canal board to determine whether and when the canal needed widening by january 1988 at the latest
middle south msu to form new dividend policy
a two year extension is possible
diana corp dna year march 28 oper net
jaguar sees strong growth in new model sales
for all 1986 foreign purchases of securities excluding us treasury securities were a record 707 billion dlrs surpassing the previous record 509 billion dlr total in 1985
crane cr acquires assets of marley unit
citibank raised its prime rate by one quarter of a point and the move was followed by other banks
philippine coconut oil exports to europe would be virtually wiped out if the european community ec implements a new tax on vegetable oils philippine coconut authority pca chairman jose romero said
and investors buy on perceptions said one broker
nippon signal issues 50 mln swiss franc notes
japan warns us it may retaliate in trade dispute
the rating agency also cited the holding companys continuing high level of problem assets including significant exposure to latin american debtor countries that will continue to pressure profitability
american can ac files for debt offering
the non callable bonds are guaranteed by fuji bank ltd and final terms will be set on april 6
we are seeking a negotiation that will give the country space to grow because only with growth will we be able to meet our commitments gros said
frank b
the cbt spokesman stressed that discussions were very preliminary at this stage and nothing was likely to begin until this summer at the earliest
european zinc production including estimates for yugoslavia fell to 152900 tonnes in february from 164200 in january compared with 156400 in february 1986
christopher sibson secretary general of ipma in explaining why the recommendation was adopted said it is aimed at the problem of the lead manager who does a deal and disappears sibson said the organization cannot force its members to adhere to the rule
the parachute creek oil shale plant produces about 4000 to 5000 barrels per day of crude shale oil unocal said
industrial production rose 48 pct on a seasonally adjusted basis in january compared with december while rising 28 pct from january last year central bureau of statistics figures show
internationalisation of the yen through expansion of overseas portfolios in yen assets is the key to the success of global trading of yen bond futures said katsuyuki okayasu general manager of yamaichi securities co ltds bond division
qtly div 14 cts vs 14 cts prior pay march 13 record march two
global petroleum corp said today it raised its posted prices for numbers six fuel cargoes in the new york harbor 70 cts to 160 dlrs per barrel depending on grade
after her talks with ryzhkov thatcher and the soviet premier were joined for the signing of agreements covering new scientific and cultural exchanges by kremlin leader mikhail gorbachev who had nine hours of talks with her yesterday
the imf study also examines the course of the dollar and the curious lack of impact it has had on the us trade deficit
stewart warner corp 4th qtr shr loss 386 dlrs vs profit 37 cts
conger said he sees homestakes 1987 gold production about the same as 1986 gold production of 669594 ounces
the paris agreement has so far successfully stabilized currencies with the threat of central bank intervention economists said
the international cocoa organization icco council agreed standard price differentials for different origin cocoas to form part of the buffer stock buying and selling procedure consumer delegates said
all the shares being repurchased amount to about 25 pct of king worlds stock
the area sown with sorghum in 1986 87 was 123 to 130 mln hectares down 103 to 152 pct on the 145 mln in 1985 86
all steers imported into the united states from mexico must now be branded with the letter m on the right jaw the us agriculture department said
traders said that over the past two weeks while trading in us treasuries has been almost frozen by indecision over the direction of interest rates swap related deals have provided the sole source of new business
montedison spa monimi has acquired a 70 pct stake in plant cell research institute pcri of california from atlantic richfield co arcn for several tens of millions of dollars a senior montedison executive said
there are about 349 mln norstar shares outstanding
official figures show the latest level compares with the previous record of 51 billion dlrs on march 4 and about 26 billion in late march 1986
one icco delegate describing the producer consumer split said consumer proposals mean buying more cocoa for less and backs the concept of the pact which is meant to support the market where trade buying is not in contrast he said producers seem to want to sell their cocoa to the buffer stock rather than consumers
another is expected to load 20000 tonnes of colza for the soviet union
bankers trust new york corp said it has placed its approximately 540 mln dlrs of medium and long term loans to brazil on non accrual status and that first quarter net income will be reduced by about seven mln dlrs as a result
goodyear chairman robert e
federal realty investment trust is issuing a 75 mln dlr convertible eurobond due april 30 2002 paying an indicated coupon of 5 1 4 to 5 1 2 pct and priced at par lead manager salomon brothers international said
franklin california tax free sets payout
commenting on published reports that imperial had suspended its oil supply contracts cote said its not a question of cancelling or suspending any of the agreements at this point on june 1 albertas energy resources conservation board will lift its crude oil marketing prorationing system regulating shut in light and medium crude production on a trial basis to the end of 1987
at a news conference after todays g 7 meeting miyazawa said the ministers and central bank governors did not believe a totally new statement was needed
the bank itself does not disclose information on intervention
du plessis earlier this year announced small concessions for taxpayers in a mini budget before the may 6 whites only election
mueller brass co said that effective with shipments today it is adjusting the price of all brass mill products except free cutting brass rod and related alloys and copper water tube and related products to reflect contained copper values at 73 cents a pound down two cents
cityquest plc a newly formed company is making a recommended 120 mln stg offer for builders merchants and diy do it yourself company wickes plc wickes said in a statement
william crowe chairman of the us joint chiefs of staff predicted iran will retaliate for the us strike against its oil platform though he said iranian options were limited
shr 16 cts vs 35 cts net 476000 vs 929000 revs 3000000 vs 3600000
zenith national insurance znat qtly dividend
i think theyre going to have to go a little higher eventually just as royal dutch shell had to go a little higher for the shell oil minority shares bruce lazier of prescott ball and turben said
dow jones and co inc dj 1st qtr net
guardian royal profit up sharply at 1438 mln stg
a treasury department spokesman refused comment on statements by robert ortner undersecretary of economic affairs for the commerce department that the japanese yen was undervalued
year ended march 31 shr loss three cts vs profit 10 cts net loss 58285 vs profit 182039 sales 3857122 vs 3188555 avg shrs 2108080 vs 1891250
but rates were expected to rise toward the end of the week
he noted hungary had been given an aa rating enabling it to raise money on the japanese samurai bond market
pacificorp ppw shelf offering of up to six mln shares of no par serial preferred stock with a total liquidation preference of 150 mln dlrs
the rating agency also pointed out that union carbides successful refinancing of more than 25 billion dlrs of long term debt has resulted in a substantially lower interest burden
energy minister masse said the federal government decided to provide cash incentives so a large number of non tax paying companies mainly small canadian firms will receive the full value of the incentive
a higher dividend had been anticipated because deutsche babcock has said in the past that it will only raise capital when it can make a lasting improvement in the dividend
there will be a facility fee of three basis points while this is not utilised after which the fee rises to six basis points
corrects last assay result to lead from zinc
it said a final deal is expected in mid april
shr loss 111 dlrs vs loss 153 dlrs net loss 71 mln vs loss 88 mln revs 31 mln vs eight mln
it also reported fourth quarter net of 73 mln dlrs or 71 cts a share up from 44 mln dlrs or 43 cts a share in the previous years fourth quarter
they held 529 billion marks in minimum reserves on monday averaging 537 billion marks over the first 16 days of march
hoechst celanese sends report on new facilities
morbelli noted chemlawn competes with thousands of individual entrepreuers who offer lawn and garden care sevice
the government faced with mounting social unrest against its economic policies has called the miners strike and fasts part of a campaign aimed at discrediting it during the visit of west german president richard von weizsaecker who began a four day visit last friday
olson as saying that siemens attempt to stop at and t and philips could lead to a resurgence of protectionism in the us baur said he expected the french government to decide on the winning bid by the end of april
zambian exchange auction to resume at end of march
brooks told the news conference that any purchase would be in the form of a management buyout and not a leveraged buyout
us export inspections in thous bushels soybeans 17683 wheat 20717 corn 36581
qtly div four cts vs four cts prior pay april 15 record march 31
under a february 21 deal bally agreed to buy 26 mln of the 306 mln shares held by trump at 24 dlrs a share or 624 mln dlrs while trump agreed not to try to seek control of bally
cpc cpc to sell unit to hi port hipt 
enterra said the change resulted from enterras previously announced agreement to sell its hale fire pump co and macomson machine co for about 27 mln dlrs as part of its restructuring
that was business already done for all practical purposes said drexel burnham analyst dale gustafson reflecting similar statements made by other analysts
moodys investors service inc rates the notes at a 2 compared with a plus from standard and poors corp
the companies said they expected the merged group to qualify for listing on nasdaq
the company said it will buy the system from a california limited partnership which is wholly owned by toronto based hollinger inc it said valley cable operates a 60000 subscriber cable television systems passing about 180000 homes in the west san fernando valley area of los angeles
national self also said it and southmark plan a two year 100 facility expansion program in south florida and across the country
jacobs said the governments fiscal reserves are expected to total 32 billion dlrs by the end of the current fiscal year ending march 31
lead managers are credit suisse first boston ltd and cazenove and co
if dollar follows wall street japanese will divest
parent bank net profit 1815 mln schillings vs 1351 mln parent bank balance sheet total 1977 billion vs 1822 billion parent bank cash flow 8774 mln vs 7155 mln dividend 12 pct vs 10 pct on nominal share capital of 15 billion vs 135 billion
midlantic corp midl 1st qtr net
international corona icrto 2nd qtr net
ec ministers have agreed to extend a quota production system while discussions continue on an industry plan for capacity reductions
in 1985 the company reported a loss of 672 mln dlrs or 1409 dlrs a share on sales of 2218 mln dlrs
however the company said the rise in its debt ratio will be temporary and will leave its debt level within an acceptable range
the number of unemployed declined to 632100 from 638300 in january against 594500 in february 1986 it said
wickes cos inc said it has completed the purchase of dura corp for an undisclosed amount
mthly div 77 cts vs 77 cts prior pay march 13 record march two
the iadb has approved previous loans totaling 2075 mln dlrs to help finance investments of some 580 mln dlrs in mexicos tourism sector
the offer also eliminated overtime after eight hours following the normal 40 hour work week he added
ec warns us and japan on trade tensions
the figure is virtually the same as the 477 mln mark 1985 parent company net profit
completion of the sale and recent sales of substantially all the assets of the companys 50 pct owned affiliate gmw industries inc are expected to result in a net gain of about nine mln dlrs in the first quarter of 1987
jaap klootwijk managing director of downstream unit shell uk oil said refining margins in the first quarter of 1987 were a bit better than the very bad fourth quarter 1986 in november and december in particular refining operations had shown negative margins following the fall in crude and oil product prices he said
were in a fairly wet pattern with normal to above normal moisture this week mohler said rainfall averaged 1 2 inch across southern minnesota 3 4 inch over southwest iowa one inch in eastern nebraska and 1 1 2 inches in south central nebraska
he said in a parliamentary debate i can now tell the house of commons that the dollars that were sold from the reserves in september and october 1986 have subsequently all been repurchased at a profit of some tens of millions of pounds hindsight had proved him right to resist market pressures then for a two percentage point interest rate rise he said
we can negotiate them all samuels added
27000 long tons usg taiwan 2325 dlrs fio five days 1500 1 10 5 continental
official wants arab fund to help lebanese pound
brierley unit issues 100 mln dlr eurobond
turkey seeking 100000 tonnes sugar trade
the newspaper quoted deng as saying that grain output is one of several key issues that will influence the whole development of the economy
singapore welcomes new lme aluminium contract move
trimedyne inc said it will distribute one class b common share of automedix sciences inc for each four trimedyne shares held of record on march nine
he said the trade problem underscored the need to reform the us educational system to improve economic performance
the buildup ties in with us plans to escort kuwaiti oil tankers which have been re registered to fly the american flag and gain naval protection against iranian attacks
the us current account deficit widened to a record 3684 billion dlrs on a balance of payments basis in the october december fourth quarter of 1986 from a revised 3529 billion dlrs in the third quarter the commerce department said
mco said the qualfied opinion related to its realization of the carrying amount of its geothermal property and its ability to continue as an ongoing concern which is dependent upon the restructuring of the companys bank debt and other obligations resolution of the uncertainties surrounding its geothermal operations and the success of future operations
a group of firms led by hong kong based industrial equity pacific ltd said it increased its stake in smith international inc common stock to 3997100 shares or 175 pct of the total outstanding from about 149 pct
there were no bids or offers for milo
the next opportunity for the bundesbank to lower rates on repurchase pacts will be in a tender expected next tuesday
thats a very healthy development he added if you asked me about that a year or 18 months ago i would have said that it was terribly protectionist members of congress that is the contemplative members of congress have begun to realise protectionism is not the answer to the 170 billion dlr trade deficit yeutter said
banking sources said the measure would drain about 200 billion pesetas from the system
the treasury said it received 309 billion dlrs of bids for the three month bills including 10 billion dlrs in non competitive bids from the public
new hampshire savings nhsb to buy bank
dutch soymeal imports fall in january
traders projected soybean exports at 16 mln to 18 mln bushels down from 186 mln bushels a week ago and 203 mln bushels a year ago
the international chamber of commerce stopped publishing a tin price after the london metal exchange lme stopped tin trading on october 24 1985
the resolution will be introduced in the house next week by rep
vw has no comment on seat loss reports
in the meantime the company said it plans today to adjourn further its meeting of stockholders to june 30
total petroleum na tpn shut down several small crude oil pipelines operating near the texas oklahoma border last friday as a precaution against damage from local flooding according to gary zollinger manager of operations
he said bolivia would not bargain with creditor banks over the price to paid for the debt paper they hold and would make a single non negotiable offer
the measures are a part of the defense authorization bill which will be voted on in the house next month
foreign earnings were hit by the lower dollar and temporary payment difficulties by clients
multi step also said it will pay 900000 dlrs to cancel 711192 of its own shares which will be acquired from michael penhale and his benficiaries
period ended jan 31 oper shr loss 66 cts vs loss 129 dlrs oper net loss 1309000 vs loss 2522000 sales 251 mln vs 199 mln year oper shr loss 65 cts vs loss 97 cts oper net loss 1287000 vs loss 1882000 sales 1134 mln vs 766 mln note earnings exclude a loss on sale of discontinued operations of 17000 dlrs or one ct a share vs a gain of 1383000 dlrs or 70 cts a share in the quarter and gains of 300000 dlrs or 15 cts a share vs 1941000 dlrs or 100 dlr a share for the year
devon said that its estimated future net revenues attributable to reserves is about 58 mln dlrs with a present value discounted at 10 pct of 38 mln dlrs
in our opinion bils actions are clearly not designed to be in the long term interests of either progressive or rainbow shareholders hawkins said
they include one billion ecus in loans from the european investment bank the ec long term financing arm
shr profit 117 dlrs vs loss 12 cts net profit 113 mln vs loss 1038000 revs 1046 mln vs 1287 mln note current year net includes gain 9500000 dlrs from the sale of its specialty restaurants unit charge 1200000 dlrs from addition to insurance reserves 4600000 dlr tax credit and 660000 dlr charge from debt repayment
treasury secretary james baker said the agreement among industrial nations in paris last month is only a start in washingtons drive to intensify economic cooperation among leading countries
individuals are not heavily invested in stocks on their own although they do participate through trust funds and other investment vehicles
mthly div 65 cts vs 68 cts prior pay march 31 record march 16 note franklin massachusetts insured tax free income fund
the negotiating group on agriculture held its first meeting in february and is expected to meet again in may
the offer will expire april nine
the basin pipeline a major pipeline running 300000 bpd run by a consortium of other oil companies was closed today
cattle slaughter is guesstimated at about 124000 to 128000 head versus 127000 week ago and 126000 a year ago
mikron instrument co mikr 1st qtr jan 31
china taiwan trade via hong kong fell in 1986
the spokeswoman said the company posted an after tax profit of more than one billion dlrs last year on total revenues of 2046 billion compared to an after tax profit of 118 billion on revenues of 1799 billion in 1985
we believe there will be some worthwhile progress in reducing the deficit this year
31 1986
wickes came to the uk unlisted securities market in january 1986 with a capitalisation of about 96 mln stg
digital communications associates inc said it agreed with fox technology inc foxto to buy its fox research inc unit for a cash payment and the assumption of liabilities of around 10 mln dlrs
horizon services 32 billion dlrs in mortgage loans
the following proposed securities offerings were filed recently with the securities and exchange commission bank of new england bkne offering of 200 mln dlrs of subordinated capital notes due 1999 through an underwriting group led by morgan stanley and co inc
larives second offer to acquire it because the bid was inadeuqate and subject to too many contingencies
since the foreign government securities underlying the futures cannot be traded in the united states unless they are registered with the sec settlement and delivery of the futures would often take place in the foreign country the sec officials said
the price of gold bullion and share prices of north american gold stocks are benefiting from continued weakness in the us dollar analysts said
the issuer in both cases was citibank na
another regular poll is due tomorrow and eonomists warn that todays improved sentiment could be dented if support for prime minister margaret thatcher slips again
this inflow of funds into the stock exchange occurring also in other countries may continue he said
it said issuance of the letter of credit is still subject to conditions including appropriate documentation but the letter is expected to be issued around april three
suburban bank of barlett claimed that the former directors breached their fiduciary duties and were negligent in opposing suburban bancorps tender offer in january 1985 costing bartlett state bank several hundred thousand dollars
traders said the destocking has come about as a result of a so called buyers strike which kept refiners from buying officially priced opec oil in an effort to get the organization to offer discounts to the official price
s and p cited an increase in debt leverage to 86 pct of capitalization from 56 pct
west german finance minister gerhard stoltenberg and us treasury secretary james baker reaffirmed their commitment to currency stability at a secret meeting yesterday in frankfurt according to official statements released late monday
allwaste said that tank cleaning earned about one mln dlrs before taxes last year and had about 15 mln dlrs in pre tax income for the nine months ended september 30
traders said he raised his recommendation of temple inland to a buy to support his earnings outlook of 585 dlrs a share in 1987 and nine dlrs a share in 1988
buehrmanns board chairman adriaan overwater told reporters he expected 1987 turnover to grow more rapidly than in 1986 when net sales posted only a 44 pct rise to 34 billion guilders while profits were up 63 pct to 932 mln
argentina will tell its creditors it needs an extension of deadlines for payment of capital and interest on its 50 billion dlr foreign debt industry and foreign trade secretary roberto lavagna told reporters
during the us bombing of alleged terrorist targets in libya last april france refused to allow british based us planes to overfly its territory forcing them to take a circuitous route
ec increases special feed wheat tenders trade
the treasury said future cts issues likely would be certificates longer than seven years
the first will be shipped to taiwan between march 20 and april 20 and the other two will be made later this year he said
one aim had to be to raise the credit standing of debtor countries to such a degree they are able to raise funds on international credit markets again
should the ec ban zimbabwean exports the country will be forced to sell its beef on glutted world beef markets at low prices the source said
i tend to go along with the double top scenario said northern futures analyst eileen rico
andriessen said the commission plans to present revised proposals along these lines in an effort to get a scheme agreed
consideration for the purchases which will be based on the net asset values per share of the companies has yet to be finalised but some nine mln stg of the total represents debt assumed by glynwed
the new maturity date is april 30 1988 it said
neyra did not specify the source of the trade credit lines
he said cathays growth last year was the result of a marginal increase in the revenue load factor coupled with savings in fuel costs at present fuel prices are stable and will remain stable for the rest of this year he said though there might be a bit of increase later this year miles said swire is not abandoning its offshore oil service operations even though the marine sector is generally depressed
the chilean state copper corporation codelco the privately owned chilean copper fabricator madeco and chinese interests are to establish a copper tube plant in peking codelcos uk subsidiary chile copper ltd said
another industry powerhouse wr grace gra has divested its retailing restaurant and fertilizer businesses to raise cash for chemical acquisitions
noting fed vice chairman johnsons encouraging remarks on inflation today and recent interest rate cuts overseas some economists suggested this slowing in monetary growth could lend support to calls for further accommodation here
in a twin announcement csr already australias largest sugar refiner made a 220 dlr a share bid for the 70 pct it does not already hold in pioneer sugar mills ltd
citicorp said if dixons accepted the proposal cyacq would terminate its competing 9250 dlr offer for cyclops
the fourth quarter current account showed a deficit for the first time since 1980 of 700 mln guilders it said
republic american corp told the securities and exchange commission it raised its stake in buckeye partners lp to 963200 limited partnership units or 80 pct of the total from 744200 units or 62 pct
there is no formal plan yet but talks are in the latter stages one representative of the german banking association in cologne said
elsewhere alza corp issued a 75 mln dlr convertible bond due 2002 through merrill lynch capital markets
syndication is proceeding and managers and participants are being invited to participate at four levels with management fees ranging from 15 to 30 basis points it said
it said that the accumulated inflation for the first three months of 1987 was 185 pct compared to 154 pct for the same period last year
republicbank also said its net income for the first quarter is expected to be about 104 mln dlrs or 30 cts a share on a fully diluted basis
analysts noted warner owns warrants to purchase 325 mln viacom shares at 35 dlrs and another 125 mln shares at 3750 dlrs
french state owned aluminium and special metals group pechiney said it has signed two protocols of intent to set up joint ventures with the soviet union
the new agreement contains an exit vehicle under which banks can convert their debt into 10 year loans
iraqi troops reported pushing back iranians
yankee ynk unit not to sell subsidiary
they said reaan could also delay invoking sanctions for a week or two giving japan a final opportunity to end the dumping practice but added that negotiators had already held extensive talks with the japanese to no avail
bull shares were quoted at a close of 5545 francs on the paris stock exchange today
cpc said not included in the 340 mln dlr consideration are proceeds from the sale of some smaller asian investments including a 51 pct equity interest in an oat based food venture to an australian partner
it will redeem 184 billion yen at 10300 and the rest at par this august 18 under an annual redemption obligation probably because of declining yen interest rates daiwa said
chrysler said in a statement the actions reflect not only our outstanding performance over the past few years but also our optimism about the companys future
japanese banks cool on nigerian debt talks
finance minister kiichi miyazawa told parliament on friday the current dollar yen exchange rate is not necessarily satisfactory for the japanese economy
the total represents 96 pct of the workforce compared with 100 pct in february
the central bank said that figures for private bank reserves and registered capital movements were provisional and there was no estimate yet of unregistered movements
on an agreement between the two countries to prospect for uranium in guinea the communique said musa and sylla agreed that because of poor market conditions it would be extended to cover exploration for gold diamonds cobalt nickel and silver
a government decree allowed a longer period of time
note two for seven non renounceable rights issue of 80 pct five year subordinated convertible redeemable unsecured notes at 250 dlrs each
health mor inc hmi sets dividend
when the bonds are converted keppels debt and interest expense will be further reduced and place the group in a much better financial position to expand and diversify its activities sim said
the company said the unit accounts for less than two pct of norton revenues and is being sold because growing societal pressures in the united states and the unsettled situation in south africa had required a disproportionate amount of management tiome to oversee norton said the unit is profitable
fluor flr wins general electric ge contract
a sinking fund starts in 1998 to retire 76 pct of the debentures by maturity giving them an estimated maximum life of 224 years
for the nine months ended dec 31 1985 it reported a loss of 634 mln dlrs or 654 dlrs per share on revenues of 476 mln dlrs which it said was a result of noncash writedowns of oil and gas properties
market forecasts had been for a worse outcome with expectations of a deficit in visible trade averaging about 750 mln stg against the official figure of 224 mln stg sharply narrower than januarys 527 mln deficit
if the trip is a major disaster it would seem to put the final nail in his coffin he said
cyclops noted that dixons waiver of rights to breakup fees or the purchase of common stock directly from cyclops and the provision of nonpublic information to cyacq are conditions to cyacqs increased 9250 dlr per share offer to acquire cyclops shares
the poultry is for shipment november 1987 through august 1988 and the bonus was 47399 dlrs per tonne for the frozen fryer legs
brannam a discount apparel chain
shr 42 cts vs 35 cts net 1540000 vs 1289000 year shr 159 dlrs vs 63 cts net 5849000 vs 3980000 note 1987 year excludes 1814000 dlrs for tax credits
the proposed transaction is subject to completion of a due diligence investigation including a review by bristol myers of a patent infringement suit served on sci med by advanced cardiovascular systems inc on march 31 1987
yeutter said the proposed vegetable oils tax would violate ec obligations under the gatt
union miniere is a wholly owned subsidiary of societe generale de belgique belbbr
but the lipc has often been criticised for releasing beef stocks when the prices are higher than the ceiling
1987 results include operations of burgdorff realtors acquired in december 1986 cornerstone mortgage co acquired in july 1987 centerbank mortgage co acquired in july 1987 and center capital corp formed in august 1987
it said shareholders will vote at the april 23 annual meeting to increase authorized shares to 25 mln from 10 mln
corrects march 11 item to exclude tax credit
the underlying rate of inflation was now two pct not the reported negative inflation rates last year and west germany was affected more than before by exchange rate developments
as a result of the acquisition and joint ventures backlog ventra said it expects 1987 sales to be 30 mln dlrs with net profits of 15 mln dlrs
last year the reagan administration rejected a petition by the us rice industry seeking relief from japanese import restrictions
the administration feels that the current course of monetary policy is appropriate white house spokesman marlin fitwater said
fees comprise 1 1 4 pct selling concession and 5 8 pct for management and underwriting
atlantis agh may bid for charter crellin crtro 
data general dgn to take 2nd qtr charge
james capel far east ltd estimates jardine mathesons 1986 profits at 450 mln dlrs and attributes most of the income to retail sales
shr loss 13 cts vs profit 10 cts net loss 1804062 vs profit 1370063 revs 335 mln vs 404 mln 12 mths shr loss 51 cts vs profit cts net loss 7030235 vs profit 9163141 revs 1494 mln vs 1679 mln note income before taxes for the 12 mths ended jan 1987 includes gains 895000 for fire insurance settlement and unusual charges of 7900000 for provisions for estimated cost of severance pay for terminated workers and a one time writedown of inventory and equipment
stoltenberg said in bonn today that he had already told funaro that the unilateral moratorium was a mistake
usair said receipt of the 9309394 shares which is also the minimum amount it will accept would give it a total of about 61 pct of piedmont shares currently outstanding and 501 pct on a fully diluted basis
the officials said the meeting here where the six will be joined by italy will be a status report
non refundable for 10 years the issue is rated aa 3 by moodys and aa minus by s and p
a shareholder group led by new york investor theodore cross said in a securities and exchange commission filing that it boosted its stake in frost and sullivan inc common stock to 208800 shares or 137 pct of the total outstanding
pdvsa and union pacific have sought a line of credit from a group of north american and japanese banks to finance the new companys working capital the venezuelan company said
proceeds will be used for expansion and acquisitions
shell has not released projected output levels for the field where water depth is 240 270 meters
brazilian crude oil and liquefied natural gas production fell to an average 583747 barrels per day in february from 596740 in the same 1986 month the state oil company petrobras said
the extraordinary loss conformed with new canadian institute of chartered accountants guidelines that require dome to use average 1986 oil prices to value its holdings instead of an escalating price method used in prior years
shr loss 144 dlrs vs loss 150 dlrs net loss 101 mln vs loss 8866000 revs 1223 mln vs 1125 mln avg shrs 7671855 vs 6520928
harcourt brace said it will only pursue the acquisition if a mutually satisfactory merger agreement can be negotiated
indonesia rejects world bank farm reform ideas
mees put saudi arabian output at 29 mln bpd in the first week of march and 31 mln bpd in the second in addition to output from the neutral zone between saudi arabia and kuwait
landesbank rheinland pfalz international sa is issuing a 300 mln luxembourg franc private placement bond with a 7 1 4 pct coupon at par lead manager caisse depargne de letat du grand duche de luxembourg said
others like the philippines and chile are privatizing companies and swapping debt for equity
security is has been and continues to be a highly profitable and obviously well managed company he said
it is not simply a question of withdrawing or refusing operating licences
he added that federal reserve board chairman paul volcker has also been very outspoken in suggesting main trading partners grow as fast as they can
southmark corp said it acquired 28 long term care facilities containing for approximately 70 mln dlrs in cash
some shorter maturities did better
speaking at a house agriculture subcommittee hearing on the use of the certificates amstutz said that the issuance of 85 billion dlrs of certificates during fiscal years 1986 88 could result in government outlays of up to 400 mln dlrs
the provision for loan losses was 872 mln dlrs compared with 838 mln
the central bank said it is invoking section 39a of the banking amendemnt act 1986 empowering it to grant loans to an ailing bank or to buy a stake in it
illinois co ops other members include such regional cooperatives as indiana grain based in indianapolis goldkist of atlanta ga midstates in toledo ohio farmland industries in kansas city mo farmers commodities des moines and harvest states in minneapolis
brazilian seamen say 14000 now back at work
the world bank african development bank european community canada belgium west germany britain sweden italy and denmark had contributed to the package he said
the system transfers crude and fuel oils from tankers to the refinerys tank farm and carries refined products to ships for export pri said
traders said the stc attempted to buy eight cargoes of processed palm oil but its price ideas were too low for exporters
the charge included the indefinite idling last month of four plants in utah pennsylvania and texas
bundesbank president karl otto poehl told a closed investment symposium that west germany could cut leading interest rates again if the united states makes a similar move banking sources said
dotronix inc said it agreed in principle to buy video monitors inc a privately held company
clark equipment co said it has purchased 1339000 shares of its common stock from an investor group led by arthur m
banking sources in london had been quoted earlier as saying the british banks were balking at signing the package in an effort to get all participants to contribute equally to a new 77 billion dlr loan contained in the deal
indonesias coffee production in 1986 87 ending september 30 may fall slightly from last years level of 360000 tonnes dharyono kertosastro chairman of the association of indonesian coffee exporters told 
the utility said transcontinental will transport the gas being purchased from shell oil possibly beginning as soon as november 1
brown and sons inc absb found the proposal to be fair from a financial point of view
sumita says he does not expect further dollar fall
the rate will be reset quarterly according to the formula of 2244027 minus the product of 18097 times three month libor
cash distribution 133 cts vs 84 cts prior pay april 29 record april 15
the province of quebec is issuing a 30 billion yen eurobond due may 7 1997 paying five pct and priced at 102 1 2 pct lead manager bank of tokyo international ltd said
any move by japan and west germany to boost their economic growth could lead to a quick change in the us position
domestic imports last week were 24774
magma copper co a subsidiary of newmont mining corp said it is raising its copper cathode price by 050 cent to 6600 cents a lb effective immediately
the united states and japan are on the brink of serious conflict on trade especially over semiconductors japanese unwillingness for public bodies to buy us super computers and barriers to us firms seeking to participate in the eight billion dlr kansai airport project us trade representative clayton yeutter said
the mmtcs recent countertrade deals include iron ore exports to yugoslavia for steel structures and rails
world bank sources said the banks lending to the philippines since 1957 including the latest loan totalled 43 billion dlrs
revenue has been adversely affected by depressed commodity prices and slowing of the economy
the oil reserve fill rate capacity is 100000 barrels a day
the move is likely to create a sharp price rise and a possible shortage of the key computer components in the next few weeks the analysts said
afg industries inc afg 1st qtr net
nationwide building society said it is issuing 30 mln stg of index linked loan stock due 2021 by way of a placing on a yield basis in the domestic sterling market
a single purpose company italfunding ltd has been created for the purpose of obtaining funds on the international capital markets to refinance 443 mln dlrs of mexicos official debt to italy at very attractive rates morgan grenfell and co ltd said as lead manager and arranger
it will be advised by bci and managed by a company owned jointly by barings and the management of bci
the bank of england said it had invited the discount houses to make an early round of bill offers to help offset a large liquidity shortage in the money market
the index fell 03 pct year on year the third consecutive yearly drop reflecting lower food and utility costs
eib issues 400 mln mark eurobond
dome has massive oil and gas landholdings in canada totalling 361 mln acres of which 74 mln have been developed
taiwan needs a fundamental restructuring of foreign exchange controls said an executive with a western bank
glickman said the change would make the program 30 pct less expensive to operate
bha group inc bhago 2nd qtr march 31 net
computer associates ca sets two for one split
bay financial corp bay 3rd qtr feb 28
since paris there are signs west german growth is slowing while us officials said they were giving japan until april to show that an economic stimulus package was in the offing
west german economic growth will slow to 15 pct this year from 24 pct in 1986 due to weak domestic demand and tougher competition from abroad the organisation for economic cooperation and development oecd said in its semi annual review of the world economy
growth in oil consumption in the western industrialised countries is likely to slow to around one pct this year compared with 23 pct in 1986 the international energy agency iea said
funaro and gros spent two days at the end of last week in washington talking to government officials and international agencies and will this week visit britain france west germany switzerland and italy for discussions with governments
shr 290 dlrs vs 144 dlrs net 8862000 vs 4391000 revs 2216 mln vs 2653 mln note translated from italian lire in us dollar equivalents at the exchange rate prevailing at dec 31 1986
the west german federal state of north rhine westphalia will issue a domestic mark bond this afternoon a syndicate manager for the westdeutsche landesbank girozentrale westlb said
argentina is seeking a 215 billion dlr loan to meet four pct growth targets in 1987
gulf resources said it still owns 67 mln shares of imperial continental or a 46 pct interest and continues to study various alternatives
but he said there was no cumulative downwards trend in view that would make quick remedial action necessary
chrysler corp said it agreed in principle with french state owned renault to acquire american motors corp in which renault is controlling shareholder under a deal in which amc stockholders other than renault would receive chrysler common stock with a market value of four dlrs for each amc common share they hold
the deal is subject to approval by allis chalmers annual meeting company officials said
brown reported 1986 net income of 105 dlrs per share or 545 mln dlrs on revenues of 1917 mln dlrs
the variable money market cds provide a low cost dependable source of funds for issuing japanese banks said robert shapiro executive vice president with shearson lehman commercial paper inc
it said the dividend applies equally to holders of its common stock and class b common
scotia mortgage corp is issuing a 100 mln canadian dlr eurobond due april 9 1992 paying 8 3 4 pct and priced at 100 3 4 pct lead manager wood gundy ltd said
fed sets two billion dlr customer repurchase fed says
gencorp agreed to sell rkos khj tv station to walt disney co dis for 217 mln dlrs
meanwhile ecuador announced an austerity program and a price freeze on key consumer goods as a result of the earthquake which killed at least 300 people
he added ecuador also wanted to make up for 50000 bpd it shipped to caribbean destinations
terms of the acquisition were not disclosed
premier industrial corp pre 3rd qtr net
however one or two traders expressed surprise that the authorities had issued further bonds of any kind in the light of the nervous conditions prevailing in the market
underwriting fee is 1 8 pct
arvin said it might earn 57 cts to 60 cts a share in the quarter
only 20 states and the us virgin islands have eradicated both diseases it noted
the hafts lost but walked away with at least 100 mln dlrs in profits analysts estimate
in view of the limits to the possibilities monetary policy had in influencing the longer term capital market the association saw little sense in wanting to boost the economy through a short term and expansionist monetary policy
wheat tobacco tea coffee jute engineering and electronic goods as well as minerals including iron ore are all on offer in return for crude oil petroleum products chemicals steel and machinery trade sources told 
but argentina did not suspend interest payments on its foreign debts as neighboring brazil did last week
jacor communications inc said it agreed to buy two denver radio stations from ah belo corp blc for 24 mln dlrs in cash and notes
the haitian government has never before operated a gold mine but the united nations has recently completed a three year feasibility study which lists grand bois and morne bossa as sites of important gold deposits
shr loss 19 cts vs profit 57 cts net loss 103005 vs profit 319344 year shr profit 22 cts vs profit 10 cts net profit 1236347 vs profit 570222
the reserve was taken to offset a decline in the us dollar against the danish kroner and other factors adversely affecting sales of its danish manufactured medical products in the us market nuclear data said
macandrews forbes unit begins offer to buy all revlon group not already owned
belgian three month treasury certificate rate cut 010 points to 740 pct official
but mark swap opportunities are limited
shr 35 cts vs 44 cts net 1311000 vs 1619000 revs 1252 mln vs 1172 mln note american building maintenance industries inc
official figures show that china lost just under one pct of its arable land to other uses in 1985 and a slightly smaller amount last year
however it excludes convertible subordinated debenture issues and tax exempt bonds as well as bonds with maturities under five years or with variable rate coupons
last year snc earned 87 mln dlrs including a small extraordinary gain
french january payments surplus 03 billion francs 38 billion december surplus official
adobe resources corp adb 3rd qtr net
most expect saudi arabia to oppose a price increase at this meeting but many look for an increase by year end to 20 dlrs to offset the decline in the dollar
the department previously said they fell 01 pct
the cess for rubber research and replanting remained unchanged at 385 and 992 cents per kg respectively
a few banks are unsure if they really want to get involved in the business
in the statement on its official results for 1986 it also confirmed provisional results given on march 2 stating a 1986 net profit of 932 mln guilders against 573 mln in 1985
the partnership which includes wagner and brown of midland texas and irvine calif based afg industries inc last week dropped its 100 dlr a share hostile tender offer
the industry has grown from 16 to 35 pct over the last five years based on earnings per share said jeffrey klein an analyst with kidder peabody and co
usda offers eep barley malt to colombia
that pact in turn followed the international monetary fund imf s approval on march 5 of a 85 mln special drawing rights standby arrangement and a 409 mln sdr drawing under the compensatory financing facility
ultramar 1986 net loss 621 mln stg vs 716 mln profit
by 1228 gmt norcros shares were quoted at 418p up from 397p at yesterdays close
shr profit nine cts vs loss two cts net profit 1419000 vs loss 314000 revs 8097000 vs 4794000 avg shrs 158 mln vs 155 mln year shr profit 37 cts vs loss 10 cts net profit 5695000 vs loss 1268000 revs 409 mln vs 4794000 avg shrs 156 mln vs 125 mln note company began operations nov 17 1985
a 13 year tranche priced at 9774 pct will also be convertible until october 10 1987 on a one for one basis for a 850 pct 10 1 2 year year bond priced at 9808 pct
they said chung would leave for washington on monday to attend the international monetary funds imf interim committee meeting and for talks with us officials on ways of reducing seouls trade surplus with washington
much is going better than the impression gained by the public from the january figures which have been in the meantime superseded he said
after the merger viacom will be a subsidiary of national but 17 pct of the company will be in public hands
east rand proprietary mines ltd said that barring any major disruption in production it expects 1987 gold output to top 10 tonnes after dropping to 9223 tonnes last year from 10251 in 1985
new zealand budget forecast seen as positive
a total 60500 tonnes of current series white sugar received export rebates of a maximum 43147 european currency units ecus per 100 kilos at todays european community ec tender the uk intervention board said
kelly oil and gas partners kly year dec 31
allegis reported a pretax gain of 806 mln dlrs as a result of that partnership
opec members agreed in december to limit production to 158 mln barrels per day for the first half of this year and on a benchmark price of 18 dlrs a barrel from february 1
they have some natural legitimate self interest in seeing that the program is preserved huckaby said
the southern snow cover boundary continued to slowly retreat northward and eastward it said
he said six ships were idle abroad in the netherlands spain venezuela france and south africa
borg warner stock rose 1 3 8 to 49 5 8
dutch social affairs minister louw de graaf announced he is withdrawing the annual 10 mln guilder labour subsidy for rotterdams strike hit general cargo sector as from july 1
if we allowed the guilder to become a little cheaper the markets would start to believe it was weak
according to the information of state monitoring organs the padding of figures makes up one and a half to three per cent of the volume of production alexei sergeyev told the official newspaper sovetskaya rossiya
esso saf essfpa year ended dec 31 1986
asked by the agency about the recent fall in free market oil prices nazer said saudi arabia is fully adhering by the accord and it will never sell its oil at prices below the pronounced prices under any circumstance nazer quoted by spa said recent pressure on free market prices may be because of the end of the northern hemisphere winter season and the glut in the market saudi arabia was a main architect of the december accord under which opec agreed to lower its total output ceiling by 725 pct to 158 mln barrels per day bpd and return to fixed prices of around 18 dlrs a barrel
emerson emr to issue new zealand notes
the sharp fall in international coffee prices will not affect colombias external credit situation finance minister cesar gaviria told 
he said it could cause the collapse of world demand and prices and destroy the domestic industry
since debtor nations problems were normally treated on a case by case basis perhaps the same principle should apply to creditors central bank president francisco gros said
american electric aep unit sells bonds
indonesia is unlikely to import copra from the philippines in 1987 after importing 30000 tonnes in 1986 the us embassys annual agriculture report said
in the final quarter gdp in 1981 prices and at annualized rates rose a slight 02 pct after expanding 08 pct in the third quarter
bankers contacted by said they did not envisage that the new requirement would present them with problems or push up fees
theyre clearly committed to enhancing shareholder value however some analysts worry about how gm will pay for the buyback and whether new models will enable the carmaker to recapture lost market share
csrs statement follows industrial equity ltds ineas disclosure yesterday that it had built up a 98 pct stake in pioneer at 254 dlrs a share topping csrs cash bid of 250
the company also changed the stocks par value from 10 dlrs a share to 250 dlrs a share
only farmers with a record of growing suger beet have been allotted quotas
between them these countries have more than enough voting power to block it
the commerce department would like to have the law changed to permit it to report both sets of figures simultaneously
kenyan coffee needs rain traders say
japanese companies requested a ratio of 80 pct arab heavy to 20 pct arab light under a term contract agreement with aramco for 100000 barrels per day the sources said
the systems have about 7500 subscribers
gillette canada inc is issuing a 70 mln stg bond due october 30 1993 carrying a coupon of 9 5 8 pct and priced at 101 1 2 morgan stanley ltd said as lead manager
shareholders wondering whether to tender either to the tractebel consortium or to the rival 700p per share partial offer from shv holdings nv should consult professional advisers
it added that portugals current account was forecast to show a surplus of 400 mln dlrs this year compared with 113 billion in 1986 and 369 mln the previous year
the opec president said producers such as kuwait venezuela and indonesia were having less problems with output than producers like his own country because they exported oil products
the non automotive operations including ford motor credit are also expected to post improved earnings this year
gordon capital corp and dominion securities inc agreed to acquire the issues it said
galileo electro optics corp gaeo 2nd qtr
pdvsas contribution to the treasury last year was 44480 billion bolivars
in that announcement mts acquisition said its bank and investor bankers felt they could provide financing totaling 975 mln dlrs for the offer
fed adds reserves via customer repurchases
assistant us treasury secretary david mulford said rapid progress was being made in talks with commercial banks for loans to argentina the philippines and brazil
malaysias recovery from the worst recession in 20 years should receive a boost on friday when the government announces a reflationary budget for calendar 1988 after seven years of austerity economists said
distributed logic corp dlog 1st qtr loss
the average yen dollar rate used for the figures was 14104 yen against 16903 a year earlier
herrington said such a plan would cost 200 mln dlrs a year
if the refining sector can discipline itself to refine about 12 mln barrels of crude oil a day we have a chance to pull down inventories to acceptable levels by the second quarter said archie dunham executive vice president of petroluem products at conoco inc if not the industry will have a tough 1987 he added
eight banking officials arrested on embezzlement charges nine days ago have been released from jail on provisional liberty pending a hearing of charges in court judicial sources said
the bank board said thrifts were net repayers of 44 billion dlrs of borrowings in january in contrast to their 63 billion dlr net increase in borrowings in december
money market dealers said conditions seemed right for the bank to cut its intervention rate at the tender by a quarter percentage point to 7 3 4 pct from eight reflecting an easing in call money rate last week and the french francs steadiness on foreign exchange markets since the february 22 currency stabilisation accord here by the group of five and canada
the debentures convert to common stock at 14168319 dlrs per share or 7058 shares per 1000 dlrs principal amount through march 31
bilateral discussions on interest rates continue he said
ltd involves a works due to go on stream in 1989 producing 250000 tonnes of non corrosive quality steels annually
dividend on priority shares 51 francs vs 48 francs
it also said the commission is now awaiting its public staff divisions report which will recommend how much of the 58 billion dlr investment pacific gas should be allowed to recover in rates
fuso finance co ltd in osaka is owned 50 pct by sumitomo with the rest equally shared by two small sumitomo metal subsidiaries
the estate of late resorts chairman james m
the bankers said nmic was currently burdened with debts of at least 158 billion pesos and is facing 10 civil lawsuits for foreclosures from major creditors
the french and german operators involved would be able to withdraw the offers up to five weeks after april 1 when the sugar will officially enter intervention stores
metrobanc mtbc shareholders approve merger
yet there was some concern a shortage could eventually develop for bonds that mature in 10 or more years
no pessimism for german exporters ministry
however a successful auction could prove to be a turning point depending on prevailing market psychology
the company said it is also selling 543237 shares to healthcare international inc hii giving the company a 98 pct stake in healthvest
ec launches anti dumping probe on japanese chips
the federal home loan bank board said its insured savings and loan associations thrifts that made a profit in the fourth quarter of 1986 reported moderate increases in net earnings
first city industries inc fcy 4th qtr net
comdata network inc said it has entered into a definitive agreement to merge into a company formed by welsh carson anderson and stowe iv for either 1650 dlrs in cash or 1000 dlrs in cash and a unit of securities per comdata share
the us austin co and japans kawasaki heavy industries inc said they have joined to compete for contacts for a new japanese airport at kansai near osaka
they cite restrictive trade practices protected japanese trade sectors such as agriculture and non tariff barriers such as unreasonable checking and customs procedures for car imports
we cannot continue negotiating every year with our creditors having to face difficulties in the meantime not knowing whether a new package will or will not be approved as it is happening to other debtor countries the minister said
baldrige expressed concern that the sale would leave the us military dependent on a foreign company for vital high technology equipment
diesel would rise by 75 pct
combined with a net psbr repayment of about 300 mln stg the public sector contribution to the growth in sterling m3 was therefore about flat the bank said
lennar corp chairman and president leonard miller said the current backlog of orders and the strong economy point to strong revenues and earnings for the balance of fiscal 1987
romero said the philippines was at the end of a five year coconut production cycle which showed production tended to fall after two successive years of good harvests
pay date is april 15
the net ratio at 26 pct left the group strongly placed to pursue its further development
qtly div six cts vs six cts prior pay april 10 record march 27
the uk longer leading cyclical indicator rose in february by 58 pct after januarys 19 pct rise figures from the central statistical office show
for this reason we have agreed to limit sectoral loans to 25 pct of the total leaving the rest for investment in projects he said
the company also faces some opposition to a 225 mln dlr rate hike requested for 1986
us farm loan secondary market gains support
the bundesbanks average yield of public paper is already nearing last years low
member states of the european community are starting to run out of patience with japan which they believe has repeatedly promised major initiatives to open its market to imports but as often made only minor moves
the bonds will be redeemable in 20 almost equal annual instalments starting june 1 1988
usair u has no comment on twa twa offer
mobil has moved to reduce debt at high interest rates which may reduce interest payments
us treasurys baker sees expansion continuing
congress should give the us agriculture secretary the authority to keep the 1987 soybean loan rate at the current effective rate of 456 dlrs per bushel in order to help resolve the problem of soybean export competitiveness usda undersecretary dan amstutz said
the stripped securities consist of two classes
it may buy the wheat valued at 70 mln dlrs between march 25 and august 341 and ship it from us ports and or canadian transshipment points by september 30 1987
speculative inflows could cause monetary aggregates to grow
he also said that he told bankers about brazils needs to ensure a seven pct average growth and eight billion to 11 billion dlr trade surplus until 1991
crude oil will be used more and more as a transportation fuel and natural gas will be used more to generate heat as an industrial fuel he added
i have to consider whats been presented and issue an opinion on this
previous iso chief william miller retired at end february last year
the dow jones industrial average slumped more than 200 points at one stage and us treasury bonds dropped about 1 3 4 points
the latest belgian state loan subscriptions for which closed today raised a total of 1688 billion francs a finance ministry spokesman said
wiehn said incoming orders in the first five months to end february totalled 250 billion marks compared with 204 billion for the same period in 1985 86
for a number of companies the pgrt cut was absolutely necessary to even maintain the kind of reduced investments that were made otherwise the reduction would have been considerably more maciej said
the company ended up recording special charges of 21 billion dlrs in the fourth quarter leading to a loss of 202 billion dlrs for the year
raimond due here tomorrow from oman for his first official visit to the united arab emirates uae told the semi official daily al ittihad he was confident a solution would soon be reached
investments will be aimed mainly at developing the groups leisure industry health and communications activities monod said
us offers to escort kuwaiti tankers in gulf
hence the depreciation of the dollar may well be going further than would be necessary to adjust the current account over the medium term koehler said
nakasone wants to go armed with two separate packages one designed to pep up japans sagging economy and imports in the short term the other to redirect the country in the medium term away from its over dependence on exports for growth
the solution of the worlds debt crisis requires open markets but a possible resurgence of protectionism is the biggest danger the president of the federal association of german banks wolfgang roeller said
ccc guarantees to turkey switched to meals usda
hanbury said some japanese companies flush with cash are interested in the expertise of american brokers
end june us interest rate forecasts t bonds fed funds prime nikko securities 825 615 775 money mkt services 800 625 750 discount corp 775 625 750 merrill lynch 730 575 750 bankers trust 725 550 750 wells fargo bank 730 560 700 irving securities 710 550 700 dean witter 700 550 700 forecast average 750 5875 750 current levels 780 6125 750
the finance ministry in a report issued in february predicted indias fiscal 1986 87 wholesale price linked inflation rate at about 65 pct against 38 pct in 1985 86
bilfinger und berger bau ag gbfgf expects group construction output in 1987 to fall to around 25 billion marks in 1987 from 273 billion last year and sees foreign business stabilizing just under its 1986 level
qtly div four cts vs three cts prior pay april 15 record march 31
jeremy ford vice president at bankers trust international ltd explained that us treasuries are used by intermediaries in swap transactions to lock in the spread the difference between the interest rate the borrower has to pay and the rate that the counterparty is obliged to pay
japan ministry has no comment on rice talks report
the subcommittee also called for the administration to consider retaliation against japan for its restrictive government procurement practices
shr profit 78 cts vs loss 38 cts net profit 3108000 vs loss 1510000 revs 355 mln vs 471 mln year shr profit 242 dlrs vs loss 201 dlrs net profit 96 mln vs loss eight mln revs 1572 mln vs 1822 mln note includes extraordinary gains of 22 cts per share and 36 cts in the fourth quarter and 1986 respectively
the issue will have a mid term bond a bond due in about 10 years and a long term bond
dealers here were loath to quantify the scale of bank of japan action this morning
it is also a money manager with 35 billion dlrs under management
earlier today gencorp said it will not ask shareholders to approve an increase in the number of its outstanding shares the election of a staggered board of directors and the elimination of cumulative voting
garcia says peru not trying to export debt stance
the recent decline in the dollar which hit a 40 year low against the japanese yen monday was reversed wednesday when several large us money center banks unexpectedly raised their prime lending rates by a quarter point to 7 3 4 pct
japan february consumer prices unchanged 04 pct january drop official
a cibc spokesmn said the issue yields 49 basis points over equivalent canadian treasury bonds
west german finance minister gerhard stoltenberg declined to comment on whether unpublished target zones for currencies agreed at last februarys louvre accord had been changed as a result of the meeting on monday with us treasury secretary james baker
banking sources here said only an escalation of south african political unrest would increase foreign pressure on repayments
it stated that its john carr unit benefitted from strong organic growth although overseas its cockburn operation had a difficult period with high maintenance costs and increased depreciation charges
milos milosavljevic also a deputy prime minister said last friday that yugoslavia had repaid 640 mln dlrs of principal and 325 mln dlrs of interest so far in 1987
shr loss eight cts vs loss eight cts net loss 655457 vs loss 566429 rev 258712 vs nil year shr loss 31 cts vs loss 26 cts net loss 2725882 vs loss 1759675 rev 349070 vs nil note companys full name is computer network technology corp
the commerce department reported last week that the nations trade gap calculated on a balance of payments basis swelled to a record 3837 billion dlrs in the fourth quarter bringing the 1986 deficit to a record 14771 billion dlrs
cargill strike talks continuing today
after venezuela clinched a revised rescheduling agreement last month at 7 8 pct over libor some new york bankers imediately claimed that 7 8 pct should be seen as a new benchmark for a debtor that needs no new loans is current on interest and is repaying some principal
canada trade rise seen as start of recovery
coopervision inc eye 1st qtr jan 31 net
mead said its first quarter benefitted from stronger market conditions and improved operations
the company estimates a production system combining both graven and east flank blocks in the terra nova field could produce about 45000 bpd average daily production he said
the companies said they choose a 77 acre site in west greenwich ri for the ventures manufacturing facility which will make biotechnology based pharmaceuticals
bank sees modest recovery in gulf arab economies
trading was suspended today in shares of lai sun evergo china entertainment and the groups associate chinese estates ltd chinese estates lost 25 cents to 2015 dlrs yesterday china entertainment five to 860 dlrs and evergo one to 74 cents
but sumita said he could not say exactly what currency levels would be considered in line with underlying economic fundamentals
on march 10 tesco launched a 1514 mln stg bid for hillards
the government lowered local taxes for exporters and said the export registration price or reintegro will be changed more often in order to closely reflect market trends
donald regan says us should ease credit supply
the new forecast for the sorghum crop is 29 mln to 32 mln tonnes compared with three mln to 33 mln forecast last week and is 238 to 293 pct down on last seasons 41 mln to 42 mln tonne crop
we want to have a weeks pause one manager said
subscription closes friday march 20 payment date is april 15 listing will be on the amsterdam stock exchange
observers in the capital expressed disillusionment with the small extent of the price cuts which ranged up to 10 pct on items such as blankets soap detergents and baby food
mthly div 66 cts vs 66 cts prior pay march 31 record march 16 note franklin minneosta insured tax free income fund
shr loss four cts vs loss one ct net loss 413021 vs loss 163932 revs 600971 vs 665800
concord fabrics inc cis 3rd qtr oper net
rite aid corp rad sets dividend
japan gnp rises 25 pct in calendar 1986 47 pct in 1985 official
step saver coda says warrant exercised
interco said the merger becomes effective april 14
it said completion is expected by july 31
i know we cannot obtain complete decoupling in 1987 but we can at least move in that direction boschwitz said
the traders added that iraq had dissociated itself from opecs december production agreement while agreeing to the fixed prices
sales of paints and dyes fibres sheeting and information technology all rose in 1986 but plant construction sales fell
about 14 mln philippine people depend on upland areas that are now denuded and farmers cannot grow crops
reagan to announce decision on japan sanctions
he said it will take a concerted effort to regularize brazils external payments
standard directors met at the companys cleveland headquarters on thursday in a regularly scheduled meeting
while relative exchange rates had a role to play in defusing the threat of protectionism it alone did not offer any solution he said
us military forces in the mideast gulf are under orders to protect only american flag vessels and occasional us arms deliveries on other ships to non belligerent states in the area the pentagon said today
it said gold production in the first three years should average 50000 ounces per year
it became clear to us the eximbank must assume a broader range of explicitly defined country and transaction risks than it has previously
taiwan to reopen tender for us soybeans
standard closed in new york last night at 64 7 8 dlrs down 1 3 4 dlrs
bolivian tin miners start hunger strike
producers could receive deficiency payments on up to 80 pct of normal yield but not more than on 30000 bu of corn and 20000 bu of wheat
weather conditions were good with no fog or wind and there were many other vessels in the area
payment is due april 15 1987
john h
but one source close to opec indicated that february output may have been between 153 and 155 mln bpd
under the scheme debtors are able to buy dollars at the preferential 750 bolivars rate but must also pay a premium
even the asset sales while regrettable were necessary to reduce debt silas said
with a timely spring soviet farmers would probably be able to reseed the damaged acreage with spring crops but analysts noted that spring crops normally yield lower than winter crops sometimes as much as 30 35 pct lower
by the turn of the century world oil prices will be significantly higher because of declining supplies mcmillan said
dixons group audio video ava end litigation
repap enterprises corp inc 4th qtr net
there was no immediate sign of italian or canadian officials
the first is likely to be for cie generale des etablissements michelin possibly led by credit lyonnais
reed said he was pleased with the expedited schedule because it provides time for the agency to act on the request before the expiration of the tender offer
the malaysian government said it raised the export duty on processed palm oil ppo to 7090 ringgit per tonne from 6406 in march effective today
victoria banckshares inc victo 3rd qtr net
spains money supply growth doubles in february
in mid december 1986 bank of america sold via california cars grantor trust 1986 a 514 mln dlrs of certificates backed by automobile receivables through salomon brothers inc
ma hanna said the purchase which is subject to certain conditions is scheduled to close around the end of october
the figures continue to indicate a switch away from these traditional major producing countries to the more advanced developing countries
the study examined seven factors which have been commonly blamed for the trade deficit foreign government subsidies and trade barriers to protect foreign industries a lack of investment in us industry declining research and development in us industry high labour costs union work rules the oil prices rises of the 1970s and us antitrust regulations
we will monitor these developments closely and will continue to hope that they do not precipitate large declines in economic activity around the world aquino told a meeting of 13 major philippine business groups
taurus said the acquisition is expected to increase its annual sales to about 100 mln dlrs and make it canadas largest footwear manufacturer
consumer prices excluding food and energy rose 03 pct in february in line with previous months although there has been some acceleration noticeable in the us and britain
the wholesale price index same base rose to 22983 in january from 22906 in december and compared with 21797 in january 1986
acme precision has 1008857 shares outstanding
correction simmons airlines inc simm loss in chicago item headlined simmons airlines inc simm 2nd qtr loss please reverse qtrs for which figures are reported
as previuosly announced fww will now proceed with the cash merger in which all shares of armel other than those held by fww or woolworth will be entitled to receive 775 dlrs per share
holmess operations are concentrated in and around new york amd miami
ganilau said however the bank is prepared to carefully consider requests for rescheduling loan repayments in cases of hardship on a case by case basis in response to a further demand that all soldiers be removed from the cane growing areas ganilau said the army would restrict its presence in the cane areas
paine webber residential realty inc pwm div
houston metals corp said the the first phase of the underground rehabilitation extensive drilling and bulk sampling program at its silver queen mine has yielded positive results
the budget unveiled on tuesday foresaw gdp growth in 1987 of three pct
when we saw that there was a demand and supply of money outside the banking system we could not envisage ourselves excluded from these transactions said osman erk deputy general manager of the private bank yapi ve kredi bankasi as
the company set up its restructuring program to fend off a hostile takeover attempt by sir james goldsmith
but delegates said the latter would only be considered if the worlds four major exporters australia brazil cuba and the european community can resolve differences over how prices can best be supported and how to share the world todays special session was called because the us earlier indicated it would only be able to pay 56 pct of its share of the iso budget
indonesia pressing for compromise over coffee
varian associates inc said it acquired all the outstanding stock of closely held analytichem international inc for an undisclosed amount of cash
he said farmers now must participate in farm programs in order to receive credit for planting and to protect farm income
its potentially a big suit and investors feel that its not good to go against regulators kenneth chu kai leung a smith barney analyst said
our program is one that overall would provide the greatest long term growth for all segments he said
pakistan firm raises three billion yen in japan
hawkeye bancorp said it issued 2690877 shares of preference stock to its institutional creditors in payment of 323 mln dlrs of restructured debt
federal securities law requires that all tender offers remain open for at least 20 business days
dealers said it was more likely that the alteration in this item on the weekly return indicated normal commercial foreign exchange business rather than intervention by the central bank
and the forum for such a reform is the general agreement on tariffs and trade he noted
semiconductors are the small silicon chips used for memory and recall purposes in a wide variety of computers
the prices the state pays to farmers for grain are too low making it more profitable for them to grow other crops
what we have to offer is our cooperation
japan brokers seek 10 year government bond auction
general mills said these charges will likely offset non operating gains which included six cts a share in the first half
uk may adjusted unemployment falls record 64300 to 295 mln or 106 pct official
israels inflation rate for february was one pct compared to 21 pct in january and 16 pct in february 1986 a spokesman for the central bureau of statistics said
bombay palace restaurants inc with its emphasis on location and low food costs expects its 1987 sales to increase 150 pct to about 22 mln dlrs from about 85 mln dlrs in 1986 according to president sant s
these agreements covered less than 40 pct of spanish workers cuevas said with the rest still in wage negotiations
if the acquisition is consummated ambassador said it agreed to contribute 250000 dlrs to the existing capital of heritage
the need for provisions was much lower than the year before said tony measor of hong leong securities co ltd
repairs are continuing at a stepped up pace on the welland canal and should be completed by the april 1 start up date she added
messidor ltd said it signed a letter of intent to acquire 100 pct of the outstanding shares of triton beleggineng nederland bv a european investment portfolio management company
however in addition to the scheduled delivery payment of 1410 dlrs an additional sum of 235 dlrs or 10 pct of the forecast price would be paid on december 15 on all cane harvested by november 30 he said
fekete told in an interview hungary must achieve at least equilibrium on its hard currency trade
info data said it plans to change its name to usa outdoor advertising inc to reflect the change in the companys operations
he added that ecuadorean crude was now selling for 15 to 17 dlrs a barrel after having been sold for many months at 12 dlrs a barrel and as low as seven dlrs before that
oper shr loss 49 cts vs loss 10 cts oper net loss 3014000 vs loss 656000 revs 227 mln vs 236 mln 12 mths oper shr loss 19 cts vs profit 40 cts oper net loss 1142000 vs profit 2476000 revs 933 mln vs 990 mln note qtr 1986 and prior qtr excludes loss discontinued operations 2441000 and 4078000 respectively
schmidt chiari did not elaborate on his dividend forecast
the duty to raise funds for special energy projects was adjusted after average crude import prices rose to 1685 dlrs a barrel in april from 1665 dlrs in march and 1308 dlrs in april 1986 ministry officials said
ed jenkins a democrat from georgia agreed to hold off his fight
oilmeal demand still strong in us soviet union
in response to hostile questioning from a member of the house appropriations committee the officials said the plan was justified to help bring the fiscal 1988 budget deficit and to get the government out of the oil business
dennis d
its cash is strong relative to 1987 requirements but was accumulated through such means as asset sales
pertamina has initialled a 20 year contract with chinese petroleum corp cpc for the supply of 15 mln tonnes of lng for taiwan starting october 1989 a cpc official said
shr 96 cts vs 53 cts net 8663000 vs 4798000 revs 897 m ln vs 668 mln nine mths shr 233 dlrs vs 167 dlrs net 211 mln vs 151 mln revs 2413 mln vs 1928 mln
oper shr 13 cts vs six cts oper net 2124013 vs 909158 revs 1686 mln vs 1576 mln note 1986 and 1985 years exclude loss discontinued operations 6974554 dlrs and 268000 dlrs respectively
futures prices reacted upwards to the news of end buyer physicals offtake although much of the enquiry emerged recently when prices took an interim technical dip traders said
you have to be impressed with the resiliency of bonds right now said smith barney harris upham analyst craig sloane
the same factors produced a two billion shilling balance of payments surplus and inflation fell to 56 pct from 107 pct in 1985 he added
we dont think that the us government has a large influence in the tin market at this stage of the game said thomas odonnell director of international commodities at the state department
the shares can be converted between 1990 and 2002 at the rate of four ordinary shares for every 15 convertibles held
itt canada ltd year net
caisse centrale de credit cooperatif is launching a privately placed 12 billion franc bond issue in three tranches of 400 mln francs and with maturities of seven eight and ten years respectively lead managers credit lyonnais and banque francaise de credit cooperatif said
us officials disagree on reducing budget deficit
a breakdown of the figures showed peru exported 2964 tonnes of bismuth to the us during jan may 1987 compared with 1270 during the whole of 1986
in august the rate of increase was 110 pct
1987 3rd qtr and nine mth figures also include gain of 121 mln dlrs from sale of real estate investment property
communications and cable ccabo buys stake
sosnoff starts bid for caesars world caw 
the market had feared that a deteriorating non oil trade pattern would undermine international support for sterling which has been the motor behind the recent fall in uk interest rates
canamax pacific trans ocean approve production
the dollar fluctuated marginally after the small scale intervention believed to total several tens of mlns of dlrs they said
corrected mobil mob to upgrade refinery unit
the department noted the latest figures were similar to the average in the fourth quarter last year but well above the january index which was depressed by the effects of severe weather
there was a 50 mln stg rise in notes and coins in circulation in february after a 290 mln stg fall in january the bank said
the french 1986 current account balance of payments surplus has been revised slightly upwards to 258 billion francs from the 254 billion franc figure announced last month the finance ministry said
apea has said it is not a true profit based tax because exploration deductibility is limited to successful projects
conrac cax in merger talks with several
however the ultimate return to satisfactory operating conditions is dependent on the successful resolution of the related problems of credit quality funding and the eventual need for substantial additional capital first city said it anticipated that certain covenants of a credit agreement with unaffiliated banks requiring most of first citys excess cash to be applied to debt repayments would be modified by the end of the first quarter in order to avoid default
indonesias main crop is harvested next month
it said it is currently holding talks with its creditors about a possible debt restructuring
we hope the new office might help gunther schulz adb vice president in charge of projects said
potomac electric power co pom jan net
the index for apparel and upkeep rose 07 pct in february after a 04 pct increase in january
pacific gas said unit 2 generated power about 937 pct of the time during its first year of operation
welbilt welb completes acquisitions
international hrs industries inc said it would reduce its stake in hal roach studios inc to 22 pct from 52 pct in return for 63 mln us dlrs from qintex incs qintex america media ltd unit
he said business was soft in the us he said the company was reorganizing its distribution programs and its staff reassigning and laying off selected employees
the company said kaltenbacher owns 30 pct of seton stock and other management members another 75 pct
showers continued throughout the week in the bahia cocoa zone alleviating the drought since early january and improving prospects for the coming temporao although normal humidity levels have not been restored comissaria smith said in its weekly review
tyco laboratories tyc 3rd qtr feb 28 net
unocal corp said it told the us treasury department that it will not include fluidized bed combustion technology a method for the more efficient burning of solids at its parachute creek oil shale project in colorado due to high costs
he said that the administrations longer term forecast envisioned that we will maintain and improve upon our progress in bringing down the rate of inflation
and economic fundamentals will always come to the fore said a dealer at one major us bank
the saudis had demanded that brazil get credit guarantees from leading international banks
asked whether a dollar yen rate of 148 or 149 reflected economic fundamentals he said current rates almost reflect fundamentals
pioneer standard electronics inc pioso 2nd qtr
outstanding bank credits to companies and private individuals remained virtually unchanged in february
shr profit 10 cts vs loss 220 dlrs net profit 687000 vs loss 145 mln sales 683 mln vs 548 mln avg shrs 7018000 vs 6577000 1st half shr profit 38 cts vs loss 195 dlrs net profit 2596000 vs loss 128 mln sales 1299 mln vs 1133 mln avg shrs 6964000 vs 6568000
the growth in imports appears to be flattening even if januarys bad weather had curbed consumer spending on overseas goods and import intensive stock building among manufacturers harwood said
they described the results announced saturday as normal and unspectacular considering that the grind in the fourth quarter was rather high and some was carried over into the first quarter
greenmail describes a buyout of a minority shareholder at a price not available to other holders
usda denies changes in texas gulf differentials
and with mortgage rates now at their lowest levels in years the loans have been snapped up by eager home buyers trying to lock into cheap money
in a march 18 letter to gencorp chairman william reynolds which was included in the sec filing general partners officials said they were confident of our ability to promptly obtain the remaining funding as described in our offer materials for this reason we do not forsee any obstacles to a prompt consummation of the transaction general partners said
moss rosenberg verft of stavanger has been awarded a contract to convert the the drilling platform west vision to a floating production platform
the payment was in connection with dixons previously announced agreement to increase its tender price for cyclops to 9500 dlrs per share cycacqs ending of its competing bid and the ending of litigation between the parties
uk money market given further 195 mln stg help
this is why we increased the strategic petroleum reserve but we have to do more he said
under its merger agreement hutton has the right to unilaterally terminate the merger agreement under certain circumstances including its receipt of less than 66 2 3 pct of purolator shares or the start of a higher competing tender offer such as emerys competing 40 dlr per share offer for purolator stock
jardine matheson profits seen up sharply in 1986
in a filing with the securities and exchange commission wedge said it bought 123200 tvx common shares at prices ranging from 800 to 10625 dlrs a share
immunogenetics inc igen year net
usair spokesman david shipley also declined comment on piedmont aviation inc pie usair has offered 71 dlrs cash per share for half of piedmonts stock and 73 dlrs in its own stock for the balance
to resume limited output in the meantime ecuador is constructing a 26 mile pipeline linkup capable of carrying 55000 bpd from lago agrio to puerto colon the starting point of colombias pipeline to the pacific port of tumaco
the numbers include imports
the issue of 46 mln shares in adr form had now been successfully completed he added
the closest the board came to discussing quotas was a briefing by the guatemalan ico delegate rene montes on a recent latin american producers meeting in managua delegates said
under the deal argentina will benefit from improved quotas on exports of beef to the ec
shr 34 cts vs 26 cts net 6150000 vs 4743000 revs 614 mln vs 495 mln nine months shr 89 cts vs 70 cts net 16 mln vs 118 mln revs 170 mln vs 1375 mln note all share and per share data have been adjusted to reflect 100 pct stock dividend distrition on april 24 1987 and the public offier of two mln shares ofthe company on june 4 1986
italy today announced that its official discount rate would be cut to 115 pct from 12 pct effective tomorrow
great american said its revised net loss for the fourth quarter is 141 mln dlrs or 636 dlrs per share compared to a net loss of 24 mln dlrs or 106 dlrs per share the year earlier
coopervision inc eye told the securities and exchange commission it has acquired 1420500 shares of cooper lasersonics inc or 65 pct of the total outstanding common stock
shanghai plans to rely on soft loans to finance a number of large scale projects in the city including an underground railway system mayor jiang zemin said
shr 97 cts vs 81 cts net 608 mln vs 511 mln revs 4874 mln vs 5297 mln 12 mths shr 342 dlrs vs 218 dlrs net 2150 mln vs 1372 mln revs 274 billion vs 288 billion note 1986 results restated for change in accounting
citibank was the first to announce an increase on tuesday
the reorganization also created four new positions for chairmen of shearsons operating divisions a move analysts speculated would allow shearson to be a stand alone company
canadas trade picture has brightened considerably underscoring economists predictions the sector would post a long awaited recovery this year
heating oil stocks are also likely to build and runs to be steady to slightly higher which could add pressure on oil prices the analysts said
greyhound lines agrees to acquire remaining routes of trailways corp
uk money rates firm on lawson sterling targets
canada southern petroleum ltd csw 2nd qtr loss
it said the offer is generous since it will give pioneer sugar shareholders a price equivalent to 29 times pioneers net earnings last financial year and a premium of 22 pct over yesterdays market price which csr said it believed already contained an element of takeover speculation
while fixed rate mortgages are uncommon in the uk they were the mainstay of the business in the us up until only a few years ago
galactic resources ltd earlier reporting a 1986 loss of 256 mln us dlrs said it adopted a more conservative accounting policy similar to other gold producers accounting for exploration costs
world bank to support sri lanka if deficits cut
we have been somewhat disappointed in the results so far but we intend to continue these discussions he said
at a news conference earlier on tuesday stoltenberg had declined to comment specifically on bakers criticisms but he had said that after three hours of discussions on monday one remark or another has been clarified
we have a job to do persuading them we can do better than our reputation seems to be he said
iran warns us against raising tension in gulf
year on year wholesale prices fell 19 pct in february after drops of 33 pct in january and 18 pct in february 1986
the chicago board of trade cbt achieved record volume in trading of 10 year us treasury note futures options april 10
the problem grew severe as customers won cheaper sources of gas because of open access
el nino spanish for christ child because it appears around christmas is formed by the action of warm air bearing clouds and rain shifting from the indonesian archipelago to the coast of peru where it mingles with the cold waters associated with the peru current and returns across the pacific as the trade winds meteorologists said
central illinois public cip 3rd qtr net springfield ill oct 20 shr 89 cts vs 89 cts net 30406000 vs 30504000 revs 1638 mln vs 1720 mln nine mths shr 189 dlrs vs 214 dlrs net 64489000 vs 73149000 revs 6034 mln vs 6465 mln note central illinois public service co is full name of company
doe recommends special unit to enrich uranium
proceeds of the continuous offering of the medium term cd notes will be used for general funding purposes of the new york bank
there are 12 importing and 44 exporting members of the iso
du plessis said no political demands were made by the banks and south africa was now rapidly returning to very good relations with its foreign creditors
it said the change will not be applied retroactively to prior financial periods
other than that the firm said there was no specific purpose in its purchases
westerns president christopher j
the surpluses that taiwan and korea ran with the us in 1986 will get bigger
associates corp issues 15 billion yen bond
escalante told a news conference here he carried the weight of the negotiations at the meeting by calling for larger export quotas for the smaller coffee growing nations
sulphur production rose to 123 mln tonnes in 1986 from 998707 tonnes in 1985
what they are proposing is really double counting patrick de saint aignan managing director of swaps for morgan stanley and co said
the funds will be used in the 700 mln dlr pacific petroleum project which includes the construction of a 267 klm 1602 mile pipeline connecting nuevo teapa in the oil rich state of veracruz and salina cruz oaxaca on the pacific coast
funaro who is in rome today will fly to tokyo on sunday after having completed a week long trip to the united states france england italy west germany and switzerland
reagan said the accord is designed to stabilize rubber prices without disturbing long term market trends and to foster expanded natural rubber supplies at reasonable prices
pay n pak said the second proposal is conditioned upon a satisfactory agreement with the companys management regarding its equity participation in the new company
farouk urged consuming countries to promote early accession to the new pact to avoid an undue gap between the old and the new
galaxy oil co said its common stock and nine pct convertible subordinated debentures due 1994 are being delisted from the american stock exchange because the company no longer meets listing criteria
mercantile stores mst march sales up 05 pct
uk money market forecast revised to deficit
buying by companies that deal in petroleum helped prices recover from early weakness traders said
the mechanism would provide for this tax to be reduced and possibly to become a subsidy as world soya oil prices rose from present levels
eletrospace shares closed yesterday on the nyse at 30 1 8
arbitragers said past comments from dominion however added credence to the speculation
indonesian sugar output forecast to rise in 1987
there are about 15 mln messidor units issued to the public consisting of one share of common stock four class a common stock warrants four class b common stock warrants and four class c common stock warrants
the ministry said the fresh allocation for the february 27 july 7 shipment period is the third under a maximum 55 mln tonne overall quota that thailand obtained from the ec for calendar 1987
one top official said the rate cuts would help to stimulate growth generally in europe and welcomed that countries other than west germany were seen to be helping sustain the economy
other countries are already cutting into the us market share here
it did not revise its sugar consumption estimate of 253 mln tonnes for the 1986 87 sugar year ending september 30
1986 revenues include revenues for the last eight months of beckett aviation acquired in september of 1985
on a non seasonally adjusted value basis retail sales in february were a provisional 90 pct higher than a year earlier
the company said the wireline services operations being sold are in lafayette houma and harvey la alvin odessa and longview texas and moore okla
charles blackburn president and chief executive officer of diamond shamrock and the new company which will emphasize exploration and production said earnings wil be better than in 1986 he declined to say how much better
genentech inc said activase its tissue plasminogen activator will be reviewed at the a regularly scheduled may 29 meeting of the food and drug administrations cardiorenal advisory committee
net earnings for the full year ending october 31 should be in the ball park of some analysts estimates of 16 mln dlrs to 19 mln dlrs richard jacob day chairman and chief executive officer said
siew returned from washington on friday after the us responded to taiwans request to increase its textile export quotas by promising further talks in may
the helicopters will be manufactured in american aircrafts uvalde texas plant it added
he said the saudis reported they would no longer accept letters of credit from the bank of brazil or even from saudi banks and that brazil would have to obtain credit guarantees from leading international banks
rostenkowski says he will oppose protectionist trade bill in us house
in a letter to gencorp chairman and chief executive a
to date only 13 euro mtn programs have been announced but only a few have been activated such as those for a unit of pepsico inc and another for ab electrolux
p and o is considering listing its shares in japan and other important overseas financial centres the statement added
ec warns congress on new trade bill
analysts also said gross profit margins were high as retailers were not overly promotional due to leaner inventories than a year ago
tomorrows surplus is attributable to government tax allocations to local governments and public entities
the subsidies were needed to support the fertilizer industry including importers exporters producers and distributors he said as well as assisting in small part the majority of indonesian farmers
jc penney co inc said its board declared a two for one stock split and raised the quarterly dividend 12 cts per share on a presplit basis to 74 cts
last november palomino said conades plans included the possible sale of a company producing palm oil and another manufacturing electrical appliances
chinese ambassador tian ding told a meeting of pakistani industrialists on thursday that china intended to increase imports from pakistan to reduce a trade imbalance
the sale of the governments 2555 pct stake in veba ag vebgf is still expected this month banking sources closely linked with the transaction said
lone star industries inc said it has arranged 150 mln dlrs of financing through the issuance of promisary notes to a consortium of 22 lenders
kcbt said the cftc proposal would reduce hedging efficiency constrain growth of intermarket spreading and of the exchanges wheat options contract and impair its ability to attract large speculators
the company said it lost 22 mln dlrs from operations in 1986 against a loss of 672 mln dlrs a year ago
it said talks are underway with lenders on other houston properties to obtain partial debt service moratoriums which if granted would cut 1987 cash deficits from 1986 levels
shr 32 cts vs 29 cts net 3320206 vs 2990695 revs 135 mln vs 149 mln
we are being accused of not implementing this agreement
saudi riyal deposit rates remain firm
commonwealty realty crtyz bay bay end talks
cpc is building an lng receiving terminal in southern taiwan city of kaohsiung at a cost of 820 mln us dlrs
the bank rate is set one quarter percentage point above the average yield on the weekly issue of 91 day treasury bills
in january producer prices rose 02 pct from december the first monthly rise since october 1985 but they were down 44 pct from a year earlier
but a probable rise in inflation late this year could give very slight grounds for a rise in nominal rates at years end and next year it said
the industry has curtailed production due to oversupply nearly every year since 1977 78 under cartel or transport ministry guidelines
but increasing use of the product in parts attached to car engines will raise demand and the company will boost output to 10 tonnes by march 1988 from two now he said
the warrants run for three years
malaysian rubber production should return to normal levels this month after a hard wintering season the malaysian rubber exchange and licensing board said in its latest review
west point pepperell inc wpm rose 1 7 8 to 67 1 8
on march 13 colombia opened registrations for april and may for an unlimited amount
new england electric is the operator of this venture as well as owning 51 pct of the project
abidjan port activity rises
apache corp said it filed with the securities exchange commission a 100 mln dlr convertible subordinated debenture offering
there will also be an investor put option annually at par
nobel financiere robur issue french franc bonds
soviet grains seen entering spring on shaky note
the bill which passed by a voice vote would allow so called findley payments to be made immediately rather than late this year
martin said that an additional 50 mln dlrs in contracts to small and disadvantaged businesses will be announced later
it is one of the largest distributors of films and other programs for television
since 1970 weve been consuming oil at rates of 20 25 billion barrels per year while making new discoveries of only about 10 15 bilion barrels per year mcivor said
economists said this reflected the huge investments poured into the oil sector in recent months in an effort to reverse the stagnation in production which began in november 1983
danish wholesale prices fall 05 pct in february
it said dixons held about 83 pct of cyclops stock following a tender offer and other purchases earlier in the year
the eight major new york city banks had 64 mln dlrs in average borrowings from the federal reserve in the week to wednesday february 25 a fed spokesman said
washington has accused japan of reneging on the deal by selling low priced chips in asia and by failing to boost american imports and has threatened to take retaliatory action
the notes are for settlement april 9 and when issued trading is expected to begin at 0930 hrs est april 7 it said
paco pharmaceutical pps 2nd qtr feb 14 net
johnston koppers co kop and j
a cut in bank base lending rates is now widely expected tomorrow with most forecasts predicting a half point fall
cominco had pressed for a three year contract and some loosening of the rules on job classifications
recommendation reiterated on wang labs wanb 
liebert corp lieb approves merger
the action increases moroccos cumulative fiscal year 1987 program for wheat under gsm 103 to 750 mln dlrs
the investment banking firm said another series of variable money market cds is planned for april
payment date is april 24 and there will be a long first coupon
the us official described the idea as a grain producers opec a reference to the organization of petroleum exporting countries and said it went against the reagan administrations desire to lessen government intervention in trade
bii enterprises inc year nov 30 net
combustion engineering said c e environmental which provides environmental sciences and management services had 1986 sales of about 24 mln dlrs
iron output is planned to grow at eight pct a year reaching 45 mln tonnes at the end of the decade
sugar production in peru for the 1986 87 season has been revised to 593000 tonnes raw value down 10 pct from the previous forecast and 21 pct below the 1985 86 harvest the us agriculture department said in its world production and trade report
oper shr loss five cts vs loss 50 cts oper net loss 3862000 vs loss 15900000 sales 426 mln vs 388 mln avg shr 721 mln vs 317 mln year oper shr loss 51 cts vs loss 210 dlrs oper net loss 303 mln vs 513 mln sales 1517 mln vs 1531 mln avg shrs 594 mln vs 244 mln backlog 571 mln vs 529 mln notes operating losses exclude profits from discontinued operationgs of 1000000 dlrs or one cent a share vs 2493000 dlrs or eight cts a share in quarter and 650 mln dlrs or 109 dlrs a share vs 137 mln dlrs or 56 cts a share in year 1986 year operating loss also excludes extraordinary gain of of 256 mln dlrs or 43 cts a share backlog which includes only orders to be shipped within 12 mths was 630 mln dlrs on january 31
reynolds metals co said it filed a registration statement with the securities and exchange commission covering a planned offering of 200 mln dlrs of convertible subordinated debentures due april 1 20012
asarco inc said it made a public offering of 3500000 shares of its common stock today through an underwriting group led by the first boston corp
i have nothing in my briefcase except an explanation of the current situation kuroda told the daily newspaper asahi shimbun
terms were not disclosed
nestle said it had also invited fritz leutwiler former president of the swiss national bank and currently chairman of bbc ag brown boveri und cie bbczz to join the nestle board
i think its a good measure a senior foreign banker said
the former chief currency dealer of herstatt bank which collapsed in 1974 on foreign exchange speculation in west germanys biggest banking crash can stand trial for damages a court ruled
its revenues totaled nearly 200 mln dlrs in the year ended november 30 and for the quarter ended on that date it earned 13 mln dlrs on revenues of 558 mln dlrs
the officials said discussion of a us agriculture department wheat export subsidy to the soviet union was not on the agenda
the crisis began when brazils trade surplus its chief means of servicing its foreign debt started to decline sharply and the problem was compounded by a renewed surge in the countryrate of inflation
american petrofina which is controled by petrofina sa said it believes it has good and meritorious defenses to any possible claim resulting from the ongoing investigation
cornglutenfeed pellets were indicated between unchanged and one dlr lower while citruspulp pellets were offered at slightly firmer levels compared with yesterday midday
frank b
its not unusual for a stripper well to cost 18 dlrs malmgreen said
the company said it has completed mining the crown pillar which has produced 71000 ounces of gold since 1983
dome rose 1 4 to 1 1 8 on the american stock exchange and gained 31 cents to 144 canadian dlrs on the toronto stock exchange where it was the most active stock
kmw systems corp kmwso 1st qtr sept 30
robertson said his group has spent a total of 59 mln dlrs on its investment in the company so far
shr 28 cts vs 16 cts net 9387000 vs 25617000 revs 4101 mln vs 3935 mln avg shrs 354 mln vs 1647 mln note 1987 net reflects interest expense on debt incurred to finance recapitalization in oct
celina celna shareholders approve sale
flash flood watches were issued for this morning across the eastern half of kansas
the counterpart of improving the trade deficit either through a lower dollar or because the us increases duties on japanese electronic goods may be to hit the capital inflow which has financed the budget deficit
year includes 1985 extraordinary gain from tax carry forward of 132000 dlrs or five cts per shr
consultations are the least that can be expected said one banker
norwegian unemployment falls in march
westinghouse electric corp wx 1st qtr net
the united states department of agriculture estimated live poultry slaughter for the week ending april 1 as follows in thousands current previous class week week bro fry 92552 95563 lt fowl 2840 3354 hvy fowl 651 789 check total 96043 99706
he said the first quarter results are in line with those expectations
the air force navy and army are in a state of alert general guven ergenc secretary general of the turkish general staff told a news conference
1986 year includes gain of 35000 dlrs from tax loss carryforwards
payment date is april 17 and the bond matures on the same date in 1997
in argentina a reduction in the sown area of about 20 per cent was put down to low prices causing producers to switch to other enterprises particularly livestock while lower us acreages are attributed to official incentives
it said a final proration factor should be announced and payment for shares start october 26
a glut of feed meals makes other oilseeds such as soybeans less desirable because they would add to already large meal stocks
for two years the markets had hailed the dollars decline as the cure all for the us trade deficit
shr loss 116 dlrs vs loss 61 cts net loss 35 mln vs loss 13 mln revs 943938 dlrs vs 480333 dlrs
first of america bank corp said it acquired keystone bancshares inc for 25 mln dlrs
nor quest resources inc said it will make a takeover offer to acquire all shares of northair mines ltd on the basis of one nor quest share plus one dlr for two shares of northair
ergenc told later that all leave had been cancelled for members of the armed forces in the aegean coast area
middle south utilities inc is taking a conversative approach to formulating a new common stock dividend policy chairman edwin lupberger said
jefferies making market in usair u 
the senator predicted congress would have to decide this year whether to require an expansion of the export subsidy program which currently targets benefits to recapture markets lost to other suppliers which subsidize
venezuela is one of the few latin american debtors which has not drawn standby or extended fund facilty loans from the imf since the regions financial crisis began in 1982
this weeks intervention showed central banks were prepared to cooperate to defend the paris pact dealers said
shr profit one cts vs loss three cts net profit 68607 vs loss 183893 revs 42 mln vs 602665
central bank intervention in the foreign exchange markets succeeded in staunching the dollars losses today but senior dealers here believe the us currency is headed for a further retreat
vbi corp a british west indies investment firm told the securities and exchange commission it raised its stake in france fund inc to 1075700 shares or 143 pct of the total from 896500 shares or 119 pct
french 13 week t bill average rate rises to 739 pct from 736 pct official
its an encouraging sign that the manufacturing sector is beginning to revive but stephen roach of morgan stanley and co inc was not convinced that the february reports portend economic gains
it said home savings had assets of 1506 mln dlrs in assets and interwest had assets of 3429 mln dlrs
no soluble sales were registered today
wickes wix completes purchase
the company said its new posting for west texas intermediate crude is 19 dlrs a barrel
however others were less worried
european coffee roasters and traders have agreed to propose a new formula for calculating international coffee organization ico quotas dutch coffee trade association chairman chairman frits van horick said
in addition it sold one billion francs worth of floating rate 1999 tap stock at a top accepted price of 9690 pct on total demand of five billion francs
it gave no further details
david hilton chief financial officer said the companys general and administrative expenses in 1987 will be reduced to about 30 to 35 pct of average assets from 43 pct in 1986
the dollar intervention was in concert with some other central banks they said
the newspaper said baldrige and weinberger are expected to bring the takeover issue before a top level interagency policymaking group such as treasury secretary james bakers economic policy council or the presidents national security council
oper shr 93 cts vs 32 cts oper net 2443810 vs 847609 revs 303 mln vs 210 mln 12 mths oper shr 116 dlrs vs 85 cts oper net 3066407 vs 2250781 revs 709 mln vs 618 mln note qtr 1985 excludes gain 96327 dlrs for discontinued operations of lebanon packaging
the fhlbb said victor federal savings was insolvent and its assets were transferred to a newly chartered federal mutual association with directors named by the fhlbb
no date has been set for the issue announced in january
market makers are now awaiting a further fairly definitive paper from the bank which would contain details of auction procedures
this brings the banks total help so far today to 120 mln stg and compares with its upward revised estimate that the system would face a shortage of some 115 billon stg
the bank of englands action also was thought to be completed on behalf of the japanese central bank reinforcing the markets view that japan is the most resolute of the six nations in its support of the currency pact
previewing the summit which he expected would not produce any major new economic initiatives lawson told reporters work remained to be done on improving the conditions for lasting world economic growth 0side measures to boost growth he said
lvi an interior construction firm said the acquisition is subject to execution of a definitive agreement and completion of due diligence
if there is no concrete resolution they will be looking to sell the dollar possibly down to the 180 mark level he said
albertsons inc abs raises qtly dividend
india imports about 12 mln tonnes of edible oils a year
plenum publishing plen registers debentures
gatt to debate us charges of airbus subsidies
the feds action followed the september 1985 plaza agreement between the five major industrial nations under which they agreed to promote an orderly decline of the dollar
it said a 315 mln dlr 14 pct note is payable in four equal instalments over four years
blockbuster bbec to acquire licensee
shearson is dealer manager of the general partners offer for gencorp
a western banker said chinas portfolio contains too much short term debt and too much of it is denominated in yen as a result of aggressive lending by japanese banks and attractive low interest rates in the japanese market
caisse nationale des autoroutes cna is issuing a three billion franc 850 pct 15 year domestic bond at 9610 pct co lead managers caisse nationale de credit agricole credit du nord and credit lyonnais said
kelley oil kly buying oil properties
there is no absolute need for quotas at this moment because the market is well balanced and we must not lose this opportunity to renegotiate the coffee agreement he said
we are aiming to reduce production in japan but of course this takes time he said
twa said however it also would be interested in discussing a three way deal among usair piedmont and twa
analysts argue recent rises in civil service salaries and budgeted spending increases for the state owned post office and south african transport services suggest that major tax concessions to individuals or corporations are unlikely
the company also said management will recommend at the june board meeting an increase of 12 cts per share in the current annual dividend rate of 228 dlrs a share raising it to 240 dlrs per share or 120 dlrs a share after the split
president corazon aquino said economic growth took priority over debt repayments but she sought to dispel fears that the philippines would not honour a july agreement rescheduling 132 billion dlrs of debt
the talks begin tomorrow with high level discussions on the economic structures of both countries and how they affect the bilateral trade imbalance which last year amounted to 5148 billion dlrs in japans favour
period ended march 31 shr loss nil vs profit one ct net loss 36000 vs profit 310000 revs 1172000 vs 1686000 note full name atlas yellowknife resources ltd
among the best performers was steel company sidor which earned 1019 billion bolivars the first time since 1978 sidor turned a profit
soybean oil 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 supply mln lbs start stcks 947 947 632 632 production 12263 12103 11617 11617 imports nil nil 8 8 total 13210 13050 12257 12257 note 1985 86 production estimates based on october year crush of 1060 mln bushels
lasmo shares were down 2p at 251 after the announcement
analyst theodore semegran of shearson said he raised his earnings estimates for the company to 725 dlrs a share in 1987 and eight dlrs a share in 1988
japans major commercial banks plan to set up a joint company to which they will transfer assets acquired by lending to developing countries to build up a reserve against possible bad loans a senior official of a major bank told 
the forecast initially looks positive for both the bond and the foreign exchange markets one analyst said
dow did not release the percentage increase
dealers said the lowering in base rates had been widely expected following yesterdays uk budget in which chancellor of the exchequer nigel lawson announced a three billion stg cut in the governments public sector borrowing target for 1987 88 to four billion stg
each has a circulation of about 160000 copies
nevertheless the court order could cause significant personnel problems including the possible delay of wage increases delta had planned to give the western personnel on april 1 ronald allen deltas president said
bionomic sciences bsii sees profitability
rubbermaid inc rbd 1st qtr net
mario gabelli head of new york investment firm mario gabelli and co said he sold some shares of gencorp inc gy as part of a portfolio rebalancing process to meet the needs of his more than 600 clients
the cut takes the anzs prime to the lower end of the range of prime rates being offered by australian trading banks
mcdonalds launches 75 mln aus dlr eurobond
both deals have an indicated pricing of par
a statement said the firm expects to pay total dividends for 1987 of not less than 40 cents a share on the expanded capital
the offer to be made through mark iv acquisition corp a wholly owned subsidiary will not be conditioned on any minimum number of shares being tendered the company said
differentials were fixed as follows country differential stg tonne malaysia 0 brazil 55 ivory coast 67 cameroun 77 nigeria 120 togo 130 ghana 137 nigerias differential is on landed weight terms
the minister said he wants to tell us political leaders of the sacrifices japan is making to cut its trade surplus
metrobanc a federal savings bank said its shareholders approved the previously announced merger with comerica inc cmca a bank holding company
san miguel corp reported sales revenue of 122 billion pesos in 1986 11 pct above its 109 billion peso sales in 1985
the total cost of the acquisition is 340 mln dlrs the spokesman said
ormand industries omd unit to repay debt
others who run junk bond portfolios agreed with that assessment and said they would still buy high yield issues
interest is based on average state bond yields tme with a margin of less 024 pct on the basis of tme at 845 pct
concern that finance ministers and officials still in washington could issue more concrete statements in favour of currency stabilisation kept players sidelined along with worries about provoking fresh central bank intervention in the long term the traders said
nippon life would be entitled to nominate two directors to the shearson board and one representative to serve as an adviser to the american express board of directors
shr 87 cts vs 77 cts fin div 90 cts vs 90 cts group net 235 mln dlrs vs 208 mln turnover 2127 mln dlrs vs 5954 mln note fin div pay may 27 record may 23
he described the present accord as a model for commodity agreements due to its being signed by nearly all producing and consuming countries and by virtue of its review systems and control over buffer stock management
wiehn added that babcock was still aiming for a three pct yield on turnover
feb 28 end shr 44 cts vs 16 cts shr diluted 37 cts vs 16 cts net 5378000 vs 1987000 revs 268 mln vs 146 mln avg shrs 124 mln vs 121 mln shr 126 dlrs vs 45 cts shr diluted 110 dlrs vs 45 cts net 155 mln vs 5401000 revs 803 mln vs 464 mln note share adjusted for stock dividends declared through today
resorts said the new company upon completion of the merger would hold the 220 mln dlrs of debt and that the special preferred stock would immediately be converted into exchangeable participating preferred of the new company
the conversion premium will be five to 10 pct and the price will be fixed on or before march 18
attacks on gulf shipping by iran and iraq centered on crude rather than products carriers which has lulled fears of lpg supply disruptions traders said
the monetary and credit growth figures for the december quarter were probably artifically inflated by unusually high growth in inter institutional lending activity on the short term money market russell said in a statement
royex offers 50 dlrs shr and 40 dlrs warrant for international corona
south koreas trade surplus with the us rose to 71 billion dlrs last year from 43 billion in 1985
goldner the owner of pagex systems inc which is also engaged in the direct marketing computer service business
the government confirmed this year it had stopped sbending copper south through south africa
an economist at a german bank who declined to be identified said if poehl is confirmed in his post it will certainly be a plus for the pragmatic course which is not so rigidly oriented towards money supply one of poehls great struggles recently has been to persuade the united states to stop talking down the dollar
in addition commodity prices are at the beginning of the production chain and serve as an imput into virtually all production processes
the un centre on transnational corporations has issued a report containing guidelines and recommendations for negotiating natural gas clauses in agreements between transnational petroleum corporations and host countries
jannock ltd said it acquired a 50 pct interest in intercon security ltd for five mln dlrs and intercon founders brian legge and richard grange will hold the remaining 50 pct and will continue to manage the company
gm stock has been a real laggard and now its rolling up its sleeves and getting serious
officials at national train company enafer headquarters in lima the peruvian capital declined to comment on when train traffic would be restored to cobriza
public authority borrowing in 1988 may also rise owing to increases in the second phase of bonns tax reform package
dawkins said he sees the round as providing a timely opportunity to secure further meaningful trade liberalisation in all sectors and to restore confidence in the multilateral system
supermarkets general corp 4th qtr 50 cts vs 52 cts
mthly div 69 cts vs 69 cts prior pay march 31 record march 16 note franklin michigan insured tax free income fund
but he said in an interview that financial markets also understood that all six countries concluded that the measures to be taken over a period of time in the future should foster stability of exchange rates around current levels
they reaffirmed our agreement to coordinate economic policies to provide for non inflationary growth and stable exchange rates reagan said
governor spencer russell said in a statement the central bank did not accept arguments that the battle against inflation should now take a low second priority after the sharemarkets plunge
the earnings gain came despite a 15 mln dlr reduction of income as a result of placing brazilian loans on non accrual
the debentures may be converted into common stock at 2880 dlrs per share through march 24
the semiconductor maker cut net losses to 256 mln dlrs or 31 cts a share from 394 mln dlrs or 47 cts in the quarter
full name is international biotechnologies inc
natural gas prices rose 18 pct after a 42 pct rise in january
the action follows us supreme court justice sandra day oconnors overnight granting of delta and westerns request to stay an earlier injunction against the deal issued by the us court of appeals for the ninth circuit
fidelity international ltd a bermuda based investment advisory firm and an affiliated investment firm american values iii nv said they have acquired 208000 share of blasius industries inc
charming shoppes inc chrs raises quarterly
the purchase authorization covers the entire quantity of rice provided under the agreement
a crop of seven billion bushels is close to the annual us corn usage so surplus stocks while not decreasing would not increase significantly a specialist said
the question is how far and how fast yeutter said
asbestec industries asbs sets stock split
the earnings results for the fourth quarter were also unchanged
qtly div 69 cts vs 69 cts prior payable may one record april 10
the analysts said that to get others to hold the line saudi arabia pushed hard at the meeting of deputy oil ministers of the gulf cooperation council last weekend and at the cooperation council oil ministers meeting the previous week
group of 24 countries calls for debt relief
in announcing the takeover agreement chrysler chairman lee iacocca cited amcs jeep division as well as its new 675 mln dlr assembly plant at bramalea ontario and its network of 1200 dealers as the major attractions
us march retail sales cut by late easter
sjw corp sjw 3rd qtr net
the licenses of the broadcast properties have long been entangled in a series of challenges
the us is pressing for greater access to the japanese super computer market
qtrly 42 cts vs 42 cts prior pay april 7 record march 20
period ended december 28
1 the finance ministers and central bank governors of seven major industrial countries met today
sainsburys taking control of shaws supermarkets
he said the seamen had not received a pay increase since february 1986 and prices have doubled since then with the collapse of the governments cruzado plan price freeze
oil at 18 dlrs a barrel brings much more confidence than 10 dlrs a barrel he said
optrotech ltd optkf year net
the company said qintexs us subsidiary also agreed to supply a minimum 70 mln dlrs line of credit to the new company which shall be used with qintex approval for financing new hri products
chemical bank cuts prime rate to 925 pct from 975 pct effective immediately
italys budget ministry said last month that 1986 gdp rose 27 pct in real terms from 1985
sprinkel added that if west germany and japan made progress to stimulate their economies as the paris agreement envisaged there would not be the necessity of significant declines in the dollar one dealer for a us based bank noted the dollar tended easier after the remarks
japanese finance minister kiichi miyazawa said the group of seven g 7 nations still support the louvre accord to stabilise currencies
mds health group limited in qtly payout
we are not pushing this place into a recession
leigh pemberton noted there had been excesses in takeover activity in the recent past
venezuela approved plans to start negotiating foreign bond issues up to 400 mln dlrs in the dollar deutschmark and yen markets finance minister manuel azpurua said after an economic cabinet meeting
atari corp said it has canceled a planned 75 mln dlr domestic offering of convertible subordinated debentures in favor of an overseas offering
henley heng has santa fe southern sfx stake
its coming in a lot weaker than i thought the economists were quick to caution that one months data prove nothing especially because money growth previously had been so rapid
if it were to receive fewer shares than that it said it would only purchase sharesd with the consent of purolator
in addition to the poor distribution of storage units there is the problem that too much of the capacity is geared to storing grain in sacks while not enough is suitable for storing loose grain brito said
the canadian dollar sector however saw good two way trade and a continuation of recent healthy volume as the canadian dollar rides high on the foreign exchanges and futures markets
nippon life shearson tie up seen setting trend
wyle laboratories said it is issuing in the euro market 25 mln dlrs of 6 1 4 pct convertible subordinated debentures due march 2002
the two cts per share quarterly cash dividend will be payable may 29 to shareholders of record may 13
in february 1985 sudan announced a 48 pct devaluation of its pound against the dollar adjusting the official exchange rate to 25 pounds to the us currency
citibank lowers australian prime rate to 16 pct
the bank of england said it forecast a shortage of around 800 mln stg in the money market today
allied irish banks foreign exchange dealer john kearney commented i would see interest rates coming down by two to 25 pct in the next three months
charter co qchr to complete reorganization
the kaufhof spokesman noted any decision on purchasing shares in the shipping group would have to be approved by the supervisory board which is due to hold a meeting tomorrow
he said a modernization program is in effect at the companys united kingdom operations where the labor force trimmed to 4000 from 10000 is expected to be further reduced to 2500 in 1988
shr profit 63 cts vs 22 cts net 775868 vs 276446 revs 2255742 vs 706130
icahn has acknowledged that he has been subpoenaed in connection with sec probes but this is the first time he has disclosed that he is among those being investigated
with the sale csr will be able to expand those businesses more aggressively and earlier he said
lower prices on the raw material side had also brought pressure on selling prices it added
on chinas import potential he said a foreign exchange shortage would force china to import less this year and next than in the past with an emphasis on technological equipment and capital
if payments are not set in advance under decoupling market prices conceivably could rise thereby leading to diminished deficiency payments
lazo said the 20 pct stock dividend payable on october 15 would also apply to stockholders on record as of september 15
the company purchased the 199 pct parcel in early march from amax inc amxn at 632 dlrs a share ahead of a one for three bonus issue when amax sold its entire 47 pct stake in acm to a number of local companies
net loss 92623 vs profit 11209 sales 93483 vs 189388 note per share data not available as company went public in january 1987
1986 net assumes all warrants exercised for the 2nd qtr only
bulgaria czechoslovakia poland and romania all took substantially more cuban sugar
sarcinelli was reacting to suggestions that last months overall 3211 billion lire deficit which compares with aprils 2040 billion surplus could be linked to a may 13 decree abolishing obligatory non interest bearing deposits on foreign securities purchases
its primary mission would be to analyze the extent of illegal trading on insider trading and to assess the adequacy of existing surveillance systems and government oversight operations
taiwans first quarter maize imports seen rising
it did not disclose the name of the company
the company said a contract has been let for a 200 to 400 tons per day mill and the company is receiving cooperation from provincial and federal agencies on its stage one report approval in principal which is required before actual construction can begin
shr 38 cts vs 30 cts net 3649000 vs 2789000 sales 1374 mln vs 1192 mln
the department said the ussr dominated the weeks activity with purchases of 14 mln tonnes which were earlier reported under the daily reporting system other large increaes were posted for japan and unknown destinations it said
kimbark oil and gas co kimbo 1986 year loss
robertson ups capital wire cwcc stake to 12 pct
rpt opposition to ec oils tax intact minister
moving reluctantly into line with most private sector forecasts the government yesterday raised its 1987 inflation estimate a half percentage point to 25 per cent and cut its economic growth estimate to between two and 28 per cent from a 28 per cent target written into the annual budget last september
tandy tan 3rd quarter revenues up 12 pct
shearson follows goldman sachs and co in finding a japanese partner
korea plans to open markets to ease won pressure
the ico board also reviewed export statistics and stock verification
the cut would be in response to a planned increase in securities transaction tax to 26 yen per 10000 yen from 45 as part of the governments proposed tax reform bills securities house managers said
genex said as part of the transaction it has signed an emplopyment agreement for a senior executive it did not name to become president and chief executive officer of genex at the end of march on completion of his obligations to his current employer
security pacific corp and users inc a credit union data processing concern said they have mutually agreed to withdraw from further merger negotiations
pressure for change has mounted because the mexican deal has been even more difficult to syndicate than bankers feared
saudi arabia is brazils second biggest oil supplier with an average 115000 bpd
both sides are showing clear interest to secure stability of the currencies
april 9 previous quote 7003 6987
earlier venezuelan energy and mines minister aturo hernandez grisanti said his country would supply an unspecified part of ecuadors export commitments
bankers said sama has proved it is not prepared to see a saudi bank go under and not only supported saudi cairo bank after its troubled 1985 accounts came to light but also made available cheap deposits to saudi investment bank and uscb
amro bank plans 300 mln guilder 675 pct bonds
the proposal is a response to overseas calls for japan to liberalise its markets in the trend towards global trading
corn and soybean basis values continued to drop on the illinois and midmississippi river due to the strong barge freight rates
imperial oil is already canadas largest energy company with 1986 revenues of 71 billion canadian dlrs
the us meat and poultry inspection programs are incapable of protecting consumers from contaminated products groups representing inspectors and consumers charged
banks must make their bids by 1000 gmt tomorrow and funds allocated will be credited to accounts on wednesday
the department said the purchase completes the export enhancement program initiative for dairy cattle to morocco announced on april 16 1986
us personal income rose 09 pct in february spending up 17 pct
prime minister margaret thatcher widely believed to be the strongest government opponent of full ems membership has made clear she does not expect to consider joining until after the next uk election due by mid 1988 at the latest
the operator of a major us crude oil pipeline shutdown because of flood damage said it may be several days before repairs are made and the system is functioning again
the ministry has given the companies 10 days to accept or decline the proposed shares
nps technologies group npsgu 4th qtr
non refundable for five years the issue is rated a 2 by moodys and a plus by standard and poors
garfinckels net sales for fiscal 1986 were 1119 mln dlrs the company said
he declined to give a reason
the transaction is expected to close in april
traders said lme three months delivery already attracting speculative buying could rise to 320 330 stg on current firmness while nearby tightness could widen the cash premium to 20 from four
the stock was down one today at 17 1 4 and down about four since thursday when ich announced it would be reporting lower than expected fourth quarter net income
january housing sales drop realty group says
interest rates on time deposits of more than 600 mln yen were decontrolled by the finance ministry last september
the company said if it reinvested proceeds in a similar property within 24 months the gain on the sale would be deferred for tax purposes
hollinger chairman black predicted hollinger would post 1987 net income of about 55 mln dlrs or one dlr a share including extraordinary gains from previous sales of discontinued operations
domestic issues have slowed to a trickle as more and more companies turn to more flexible overseas markets for cash but the proposed moves are expected to pave the way for a review of public bond issues they said
the company which went public in march 1985 earlier reported losses for the fourth quarter
soybean production by contrast is expected to hit a record 80 to 84 mln tonnes which would mean an increase of 111 to 151 pct over last years record figure of 72 to 73 mln tonnes according to private estimates
the cattle are for delivery may 1987 october 1988 it said
the company said its agreement to merge into dixons does not permit it to provide nonpublic information to cyacq which is making a competing offer for cyclops that had been provided to dixons
the following proposed securities offerings were filed recently with the securities and exchange commission southeast banking corp stb offering of 50 mln dlrs of convertible subordinated capital notes due 1999 through lazard freres and co
turnover in the uk government bond gilt market in february slipped to 8125 billion stg from januarys 8337 billion although it was 165 pct higher than the 3063 billion in february 1986 the stock exchange said
the us trade shortfall with taiwan was 16 billion dlrs in january up 244 pct from a year earlier
were dead and its the government thats causing us to die declared lucien felix 34 who has five dependents
treasury secretary baker declines comment on g 6
if the talks prove successful the nigerian team headed by finance minister che okongwu and central bank governor abdulkadir ahmed will hold similar talks with french export credit officials in paris later this week the sources said
us commerce secretary sees higher gnp growth
westpac said in a statement the increase reflects high costs of funding
the united states is the principal donor nation and has pressed the bank controlled by the latin american borrowing nations to cede virtual veto power over loans to washington
diamond shamrock offshore partners dsp payout
dart group inc said it is preparted to negotiate all terms of its proposed acquisition of supermarkets general corp
order growth was broad based across ncrs product lines with the greatest growth coming from us it said
the securities industry association sia has asked the us supreme court to overturn a lower court ruling that would allow banks to sell commercial paper sia general counsel william fitzpatrick said
m
the biggest increase was seen on the ekofisk field which pumped 168023 bpd in september against 48195 bpd in august field operator phillips petroleum norway inc said
the notes were given a 10 1 2 pct coupon and par pricing
however top ldp executives will work out figures so that abe will be able to offer specifics to us officials
india trade deficit falls
denominations are one mln dlrs
theres a lot of reluctance by the other banks
about 7000 acres are planted with the high yielding ric 103 variety the clone afflicted by corynespora
the unfiltered index however fell 01 pct in january after rising 10 pct in december
our two largest visible industries autos and housing are faltering but exports are picking up some of the slack martin mauro senior economist for merrill lynch economics told 
dealers pointed to the recent caisse daide a lequipement des collectivites locales caecl 890 pct two billion franc bond with warrants exchangeable for floating rate bonds issued over 13 years and 80 days at 9704 pct with payment date march 9 which was today quoted at 090 to 110 pct
yeutter is in new zealand for a two day informal meeting of trade ministers who are reviewing the uruguay round of the general agreement on trade and tariffs gatt he said he will meet the japanese delegation over the next few days but declined to discuss methods of relieving the strain between the two countries
ongpin outlined his plan today to the 12 bank advisory committee headed by manufacturers hanover trust co
ge credit says it will buy kraft incs d and k financial corp
taiwan cabinet approves increase in bond issues
fees comprise 3 4 pct selling concession and 1 2 pct for management and underwriting
after more than four hours of talks the g 7 issued a communique which merely reaffirmed the recent paris agreements view that prevailing currency levels were broadly consistent with economic fundamentals and that exchange rate stability should be fostered around these levels
noranda said the cause and full extent of the damage is still unknown but the fire destroyed 6000 feet of conveyor belt
under german law disclosed provisions do not necessarily reflect the full amount of risk provisions
norway which pumps around one mln bpd from its offshore fields previously said it would continue its output curbs from planned production for the rest of the year if opec remained within its december accord on output and prices
us oil production had dropped some half mln barrels a day bbd in 1986 and would continue to fall if the price stayed below 20 dlrs a barrel
emerald homes lp said its general partners declared an initial 30 ct per unit distribution payable may 15 to unitholders of record march 31
qtr and year prior excludes tax gain 833000 and 3346000 respectively
qtly div eight cts vs five cts prior pay april 24 record april three
speaking at a forum for industrialists he said one of the reasons was that the market was already saturated and that producers will have excess production and stockpiles of 39 mln 60 kg bags in 1987
about 2800 members of local 222 are affected by the shutdown
aep industries inc aepi 1st qtr jan 31 net
the company said it paid kodak 1050 dlrs a share or 24 mln dlrs
the sanctions are against the free trade system ministry of international trade and industry miti director general noboru hatakeyama told reporters adding if these measures are taken the atmosphere in japan against the united states would become not so good as before other officials were more blunt
the company declined to issue a statement the nyse said
saudi arabia buys 5000 tonnes rbd palm olein
he added that the fund can be very flexible in its dealings with developing countries adjusting its approach to the political realities
shr four cts vs two cts net 59700 vs 27300 revs 3123900 vs 1911900 12 mths shr six cts vs nine cts net 94100 vs 81600 revs 9802000 vs 5922000 note qtr 1986 and qtr prior includes tax gain 9000 and 1900 respectively and year 1986 and year prior includes tax gain 18000 and 21000 respectively
thomas and betts said the court upheld the may 26 1986 award plus interest to be paid by winchester electronics a division of litton systems inc which is a subsidiary of litton industries
he said the bills provision barring gnma from increasing its current fee of 06 pct charged to issuers of single family mortgage backed securities is an unnecessary and risky congressional intrusion into gnmas ability to respond quickly and flexibly to changes in financial markets reagan said his reservations must be addressed promptly through remedial amendments reagan said the provision hampered gnmas ability to maintain reserves necessary to meet its obligations particularly in light of a disturbing increase in claims and in gnmas contingent liabilities reagan said the legislative cap on fees could well call into question the adequacy of gnmas current reserve of 14 billion dlrs given the 250 billion in gnma guaranteed securities presently outstanding and gnmas monthly contingent liability of three billion dlrs reagan said he had instructed housing secretary samuel pierce to work with congress to draft revisions to the legislation
belief is growing that freight rates will not decline sharply from current high levels even in the usually sluggish summer season because the soviet unions chartering is seen continuing five to seven months from april one source said
it seems the trade was looking for more acres to be bid into the program she said
dixons group plc dxnsl has sold 83 mln shares in woolworth holdings plc wlthl through salomon brothers uk equity ltd a statement from salomon said
lower ratings prevailed in steel and health care it said
cofab inc said it acquired gulfex inc a houston based fabricator of custom high pressure process vessels for the energy and petrochemical industries
new applications for unemployment insurance benefits fell to a seasonally adjusted 338000 in the week ended march 28 from 355000 in the prior week the labor department said
the last trade deficit was a 428 mln shortfall in 1982
fields in the west were short of nitrogen and moderate insect activity was noted in the southwest region
he was speaking at the swearing in of c
i cannot give you any forecasts in response to the future about the agreement i do not want to speculate on what will happen after sept 30 1988 he said
a spokesman for schlumberger declined to elaborate on the companys news release
terms were not disclosed
at least 300 mln dlrs of previously cancelled loans were supposed to go to the dbp the world bank sources said
our current position is the strongest in modern ncr history with new generation offerings deliverable in every major category this year for 1986 ncrs earnings rose nine pct to 342 dlrs a share on sales that increased 13 pct to 49 billion dlrs
river oaks said the note will be convertible into two mln shares of its common stock at one dlr a share
day to day operating costs of the exploration and production sector had been cut 10 pct last year and the target is to keep costs per barrel constant
uk money market deficit forecast at 400 mln stg
a sinking fund starting in 1998 to retire five pct of the debentures a year can be upped by 200 pct at the companys option giving them an estimated minimum life of 139 years and maximum of 205 years
eyskens has repeatedly said that europe needs a period of calm on world currency markets and in particular a more stable dollar before it can set about strengthening the ems to make it more resilient against exchange rate swings
once that examination has been completed and even in the absence of a willingnes of sfsp to negotiate kcsi will make an offer in writing said the company
siaf a subsidiary of swedish match since 1946 had a turnover last year of 62 mln crowns the swedish group said in a statement
the commodity credit corporation ccc has accepted a bid for an export bonus to cover the sale of 2750 head of dairy cattle to the canary islands the us agriculture department said
a council official who declined to be named told the imports which will include about seven mln tonnes of oilseeds grains and dairy products would be worth some four billion us dlrs against 372 billion in 1986 and 338 billion in 1985
the company said it will buy the 85 pct interest in seaxe from shareholders owning restricted or controlled shares for less than 200000 hadson common shares
oper shr loss 30 cts vs loss 25 cts oper net loss 2138000 vs loss 2312000 revs 993 mln vs 894 mln year oper shr loss 40 cts vs profit 47 cts oper net profit 4294000 vs profit 8793000 revs 3909 mln vs 3605 mln note excludes discontinued operations loss of 133 dlrs a share vs 535 dlrs a share in the quarter and loss 152 dlrs a share vs loss 1364 dlrs in the full year
riverside group inc rsgi 4th qtr
these are the heaviest contract talks in the history of the st lawrence seaway george miller vice president of the canadian lake carriers association an association of major canadian shipping companies said recently
japanese crushers bought 5000 to 6000 tonnes of canadian rapeseed for may shipment in export business overnight trade sources said
henderson said the major new products in the companys pipeline expected to each bring in sales of over 200 mln dlrs annually were statil a treatment for diabetic complications zoladex a treatment for advanced prostate cancer and carwin a treatment for mild to moderate congestive heart failure
qtr ends jan 31 shr three cts vs one cent qtrly div seven cts vs seven cts prior net 106185 vs 28871 revs 469 mln vs 303 mln 12 mths shr 33 cts vs 23 cts net 1306595 vs 878484 revs 1872 mln vs 1408 mln note effective july one 1986 the company acquired the outstanding stock of western american forest product inc for cash and convertible debentures
fcoj movement 3915370 gallons last week
for the first time in several years a recession in 1988 or 1989 is more than a remote possibility van dyke said
this is a record in the history of brazilian agriculture a ministry spokesman said
this association will expand our overall activities and significantly enhance our ability to compete in the defense electronics area boeing president frank shrontz said in a statement
its a win win situation said one analyst
this allows the exchange and its members to concentrate our marketing on the pig and live cattle contracts lmfe official peter freeman said
shr loss 161 dlrs vs loss 47 cts net loss 192 mln vs loss 5716000 revs 464 mln vs 110 mln year shr loss 201 dlrs vs loss 29 cts net loss 245 mln vs loss 3548000 revs 1502 mln vs 244 mln note 1985 net includes tax credits of 7336000 dlrs in quarter and 102 mln dlrs in year
it did not however place any restrictions on the administration as it proceeds to reflag the kuwaiti ships and thus has no immediate effect on us policy
huntington bancshares inc hbano 3rd qtr net
reserves of european currency units fell to 7325 billion francs from 7527 billion at end december
sri lanka will uproot rubber trees that are more than two years old and affected by the leaf disease corynespora the head of the governments rubber research institute told 
the japan export import bank will cut its rates on loans to asahan and albras to about five pct from about seven pct the official said
ford motor co said it is developing an aluminum space frame for its probe v concept car using extruded stretch formed aluminum that could lead to new techniques for building production cars in the future
atico financial corp said it has executed a definitive agreement to acquire 935 pct of intercontinental bank of dade county fla from intercontinental bank holding co for an undisclosed amount of cash and common stock
triton said because of the wells status as a deep exploratory well production qualifies for a five year royalty holiday under the saskatchewan drilling incentive products
fat and oil bearing raw materials imports rose to 760000 from 709200 tonnes on a fat oil basis and to 347 mln tonnes actual weight from 332 mln
spokesmen of ariadne jacksons and neptunia were not available for comment nor any officials of the philippines
swiss feb trade deficit 6297 mln francs jan deficit 2094 mln official
but the japanese minister for post and telecommunications was reported as saying that he opposed cable and wireless having a managerial role in the new company
inco sees no major impact from dow removal
last year 45000 tonnes were sold into intervention and during the 1984 85 campaign 108000 tonnes
oil industry analysts have forecast oil prices to average about 18 dlrs a barrel for the year and many believe that a move above that level will be unlikey for the near term
the eight year offer yields 594 pct to retail investors at issue and will go on sale on march 25
hk dealers say nakasone g 6 comment too late
although bankers are eager to foster foreign investment in the philippines the pins idea is likely to run into stiff resistance by at least some members of the bank advisory committee because it would establish the precedent of some interest payments being made with paper rather than cash
the company said both agreements in principle have been approved by directors of the companies involved but still need court regulatory and lender approval
he said it was true some countries were strongly opposed but others were less so and others basically in favour
4th qtr shr 15 cts vs eight cts net 1800000 vs one mln year shr 51 cts vs 110 dlrs net 6200000 vs 132 mln note net includes loan loss provisions of 14 cts shr vs 18 cts in quarter and 24 cts shr vs 36 cts in year
net proceeds from the sale of notes will be used for general corporate purposes and will replace existing outstanding debt the company said
soviet minister says trade boost up to french
in order to expand participation by foreigners the syndicate must either expand the securities industrys 26 pct share or introduce auctions to the primary market they said
it may buy the rice valued at 55 mln dlrs between march 31 and august 31 1987 and ship it from us ports by september 30 the department said
this apparently ruled out congressional approval of another textile trade bill to limit quotas on textile imports as was proposed again this year
it said it received an option from three principal shareholders for 40 pct of countys outstanding
the latest trade figures show norwegian imports from south africa dropped 36 pct to 160 mln crowns during the first eight months of 1986 while exports plunged 52 pct to 265 mln crowns from the year ago figure
mills in the area have been reporting that their crops are beginning to look healthy and greener and are putting on growth since the rains began the spokesman said from brisbane
jardine matheson holdings ltd jardhkg said it planned a bonus issue of four new b shares of 20 hk cents each for every ordinary share of par value two dlrs
ubs brought two negotiated deals to the marketplace after that
a spokesman for the firm linked the rise to two aircraft deliveries in 1986
takeover speculation has surrounded santa fe since henley disclosed its stake in the company earlier this week but analysts and a santa fe official were skeptical a takeover is its intention
it said the costs including moving expenses severance pay and future lease payments
the economy grew by 53 pct last year up from 41 pct in 1985 ouko said
manufacturers earnings hit hard by the yens steady rise against the dollar will rise 77 pct in first half fiscal 1987 after falling 107 pct in the second half of fiscal 1986 it said
central bank governor chang chi cheng told reporters the reserves totalled about 69 billion us dlrs compared with about 42 billion at the same time last year and 68 billion on october 5
no soviet wheat bonus talk planned for meeting
nzi shares were at 218 nz dlrs bil at 408 and renouf at 615 at the close of trading
swiss sight deposits rise 310 billion francs
the name is intended to eliminate confusion between the parent company and its principal subsidiary combined insurance co of america
industrial output in january was 609 pct above the same 1986 month after rising 671 pct in december brazilian geography and statistics institute figures show
bell resources says it buys 576 mln bhp shares taking holding to 2993 pct
simex said in a press release that the options contracts would be based on the currency and interest rate futures currently traded on the exchange and be started toward the third quarter simex which is linked to the chicago mercantile exchange currently trades three currency futures on deutsche marks japanese yen and british pounds and two interest rate futures on us treasury bonds and three month eurodollars
harcourt said in a statement this week that salomon brothers inc sb and mutual shares corp have intervened in the case claiming ownership of more than 30 mln dlrs face amount of the debenture
the consumer proposal to base quotas on a six year moving average of exportable production surpluses would lead to overproduction as countries boosted output to win higher quotas he said
retailers advanced 30 pct less in the latest three months than in the previous three months it said
uk court rules against rtz on oil field costs
but the newspaper added that it was still not possible to say how far the move to abolish foreign securities purchase deposits had affected italys balance of payments
it also will be able to issue on an uncommitted basis euronotes with maturities of up to six months which will be priced under the issuer set margin system
exports are forecast to rise to 720000 tonnes against 695000 tonnes in 1986 the report added
fernandez said an imf mission would visit here in july or august to review performance in the january june period
crushings of rapeseed sunseed and soybeans will probably rise from last year due to bumper ec crops
they said production was conditional on approval of a water license and arrangement of appropriate financing
via sole manager drexel holiday inns is selling 900 mln dlrs of senior notes due 1994 with a 10 1 2 pct coupon and par pricing
coupon cut on keihanshin real estate warrant bond
it estimated 1985 86 output at 1613 mln tonnes vs 1613 mln last month
lead prices have risen this week against a background of a finely balanced physical sector traders said
funaro and gros are today meeting british chancellor of the exchequer nigel lawson foreign secretary geoffrey howe and governor of the bank of england robin leigh pemberton
allied has 50 mln dlrs of debt outstanding
s and p said the action reflected beverlys aggressive plans to repurchase stock that would increase financial risk while earnings prospects become more clouded
these investors who must convert yen into sterling through dollars for british securities purchases appear to be buying in london rather than in tokyo a bond manager for a british securities house said
nusource said shareholders elected a new board consisting of richard a
a pact with chile with a one pct spread came a day before venezuelas
us oil dependency seen rising to record level
it said last november that the drought reduced total national areas sown with paddy to some 825 mln hectares this year down from 884 mln a year ago
its shares will be divided by eight giving a capital of 128 mln shares of 25 francs nominal
in meetings with both the foreign and telecommunications ministers howard said he expressed deep concern about the way tokyo had handled the dispute and about the continuing trade imbalance between the two countries
the company said it had been able to cut its losses because its scaled down copper operations in the central island of cebu started in the second half of 1986
the company said over the next six months it will use its best efforts to increase its authorized capital and make a six to eight mln dlr rights offering to holders of its convertible preferred stock at 60 cts per equivalent common share with proceeds to be used to repay sums drawn from the interim line of credit and for working capital
bangladesh cost of living index falls in january
brown absb sets split to offer shares
residential mortgage investments incs mortgage acceptance inc unit said it is offering a 543 mln dlrs collaterized mortgage obligation using mortgage pass through certificates evidencing undivided interests in pools of conventional mortgage loans on single family residential properties as collateral
the company said it has a 2333 pct interest and other interest holders include atlantic richfield co arc sun co sun and deminex ag 10 pct
the fed took no market reserve management action last thursday and friday the first two days of the week
european operators offered 854000 tonnes of sugar into intervention to protest about export rebates which they say are too low
for flexibility the bank would post yields daily to dealers on an absolute rate basis providing a range of short term maturities
india australia agree to improve two way trade
stora announced last september it would acquire papyrus at a price of 58 billion crowns thus forming europes second largest forest group after london based reed international plc reed l
nearly half of leucadias common stock is owned by tlc associates a salt lake city utah general partnership whose partners include the chairman and president of leucadia and other investors
we have to study this more reagan said
shr diluted 118 dlrs vs 104 dlrs net 450 mln vs 392 mln assets 167 billion vs 152 billion deposits 130 billion vs 121 billion loans 119 billion vs 101 billion note results restated for merger of midlantic banks inc and continental bancorp inc on january 30 1987
futures soared through the 1000 points barrier today for the first time in the spot position since the market opened in may 1985
the coffee sugar and cocoa exchange has expanded the normal daily trading limit in coffee c contracts to 60 cents a lb from the previous 40 cents effective today the csce said
funaro called brazils program very responsible and very strong adding that it is very different from other years there has been a tremendous change based on brazils current economic situation suspension of interest payments on 67 billion dlrs owed to banks 200 pct inflation and the need of four billion dlrs in new loans every year until 1991 he said he was faced with two options
in new york noted
they said saudi output in the first eight days of march averaged 26 mln barrels per day bpd including oil from the neutral zone shared with kuwait compared to a february average of 35 mln bpd
united healthcare corp unih 4th qtr net
the price of gold bullion is likely to rise in the second half of the year on increased private investor demand west german analysts said
the dollar fell below 143 yen in hectic early tokyo trading despite aggressive bank of japan intervention dealers said
finally some industry sources said that by buying the minimum amount of corn guaranteed under the us ussr grains agreement four mln tonnes the soviet union may be hoping to convince the usda to offer moscow a subsidy on wheat
chemical waste management inc chw 3rd qtr net
the business is a manufacturer of high energy friction materials for heavy duty transmissions and clutches
rotterdam grain handlers stage lightning strikes
while mergers and acquisitions among us firms number in the thousands japanese buyouts of overseas companies have totalled just a few dozen one merchant banker said
copper industry asks lme for strategy statement
saudi businessmen to discuss private sector
the division manufactures tillage and spraying equipment
reynolds said the company expects to book an after tax gain of 250 mln dlrs from the sale of wor tv
chicago pacific corp cpac offering of 150 mln dlrs of convertible subordinated debentures due april 1 2012 through an underwriting group led by goldman sachs and co
general hydrocarbons assets now consist of cash and montana power co mtp shares
he said sugar markets were holding up despite encroachments from artificial sweeteners and high fructose corn syrup
ibm whose stock hit a 52 week low of 115 3 4 dlrs in mid january has come back lately
the new facility replaces old 11 day advances totalling 65 billion guilders at the same rate
transcanada would own 80 pct
most western economists have for years allowed for a certain padding of figures when analysing soviet statistics for industrial production
asked what opecs output level was now he replied below 158 mln barrels per day he did not elaborate
werner chrobok managing partner at bethmann bank said he hoped the two men would soon be of one opinion again
the experts told tehran holds the initiative and is likely to control the tempo and direction of the conflict as long as america simply reacts to iranian attacks by launching limited retaliatory strikes
harper said no determination had been made as to any transaction and that its special committee is continuing in talks with interested parties in an effort to come to a conclusion in the near future
group raises texstyrene foam stake to 117 pct
lce and ipe elect first traded options members
merrill lynch will continuue to act as dealer for the program with shearson lehman brothers international and sg warburg and co ltd as co dealers
federal co fff 3rd qtr feb 28 net
istat said the year on year fall reflected poorer performances in the footwear clothing textiles chemicals and metals industries
shr loss five cts vs profit six cts net loss 1200000 vs profit 1400000 nine mths shr profit 100 dlrs vs profit 84 cts net profit 237 mln vs profit 199 mln note year ago results are pro forma since the company was created in march by the transfer to a master limited partnership of all domestic assets of petrolane incs liquefied petroleum gas division
the commodity credit corporation ccc has accepted one bonus offer from an exporter on the sale of 4400 tonnes of barley malt to nigeria the us agriculture department said
endotronics said it was providing documentation to the securities and exchange commission in connection with that agencys investigation
kodak said there is no specific need at this time
mclain industries inc mcclo 2nd qtr march 31
first national holders approve holding company
under current law there is no limit on open market purchases
xicor inc xico 1st qtr march 22 net
german june cost of living 02 pct above year ago may rise 02 pct official
the latest guarantees increase the cumulative fiscal 1987 program for sales of us agricultural products to algeria to 4640 mln dlrs from 3800 it said
as alternatives to the rate increase the company has also proposed allowing la electricidad a grace period on payment of the exchange risk premium to the central bank a longer period to pay it or a soft loan from the government
the arkansas senator said the marketing loan which in effect allows producers to pay back their crop loans at the world price had led to a 300 pct increase in us cotton exports in 14 months and a 72 pct increase in rice exports
projected fiscal 1988 requirements are 213 billion dlrs
borden bn to acquire major pasta maker
products from the new acquisitions and other new product introductions are expected to enable it to return to profitability it said
some other economists foresee a gain as large as five pct
growers said it was still too early to tell whether the rains had damaged crops though they said maize and sunflower crops may have suffered
without last years energy price drop it rose 38 pct
its a merger of equals said analyst john rooney of moseley securities corp
yeutter made his remarks at a us israeli trade meeting marking the second year of their bilateral accord
the overall balance showed a surplus of 48 billion after 26 billion in 1985
egyptian central bank dollar rate unchanged
normally syria calls white sugar buying tenders for forward delivery and last months spot requirement resulted in the sale of several cargoes
usx corp said proved reserves of oil and natural gas liquids fell 28 pct to 8028 mln barrels at the end of 1986 from 112 billion barrels at year end 1985
christians told a news conference he met us treasury secretary james baker in the last two weeks after short term german interest rates had risen twice
central banker janos fekete has said the finance ministry is trying to cut the 1987 shortfall to between 30 and 35 billion from a planned 438 billion
silicon valley bancshares sets stock payout
mueller brass lowers product prices
the two men had run the saudi oil industry for more than 20 years
shipments in tonnes with comparative figures for february 1986 in brackets included beef 13272 11464 horse meat 1543 2083 and beef offal 4476 4672 the board added
melcher originally had proposed sending missions to mexico the philippines indonesia bangladesh senegal nigeria peru kenya the dominican republic costa rica malaysia venezuela tunisia and morocco
uk money market given 115 mln stg assistance
whatever the calculation the issues have received a warm welcome from investors
cotton sales of 57900 running bales 43800 bales for the current year and 14200 bales for the 1987 88 season were off 25 pct from the previous week and 50 pct from the four week average
the trip is set for april 6 8 the state department said
michigan general mgl extends exchange offer
poclain offers par rights issue
holdings plc rtrsl said it had agreed in principle to buy i p sharp associates ltd of toronto for 304 mln stg
he expected the decline to continue in the next few months because of further appreciation of the local dollar against the us currency
harris said the lpfa rule book allows the management committee to take steps as necessary to correct any malpractice and he assured the committee is monitoring the situation
merrill lynch and co inc fired the head of the mergers department in its london office today saying he had been unable to provide a satisfactory explanation in response to insider trading charges filed yesterday by the securities and exchange commission
shr 72 cts vs 58 cts net 4791000 vs 3803000 sales 830 mln vs 720 mln avg shrs 6668309 vs 6545722 1st half shr 88 cts vs 70 cts net 5872000 vs 4614000 sales 1416 mln vs 1218 mln avg shrs 6669488 vs 6525051
the switch reduces the total value of gsm 102 guarantees for the current fiscal year to 300 mln dlrs
the unit also has agreed to pay a debt of 400000 dlrs to tarxien company ltd which is 40 pct owned by multi step
china will provide 370 mln yuan for the project and a chinese company won a bid against 12 other firms from seven countries to do the foundation work it said
the narragansett taft group said its letter to tafts board states the group intends to return control over a significant portion of the companys equity to the taft family while providing other stockholders with a means of realizing a very attractive value for their shares
nevertheless japanese officials said they remain in a weak bargaining position especially with the threat of a trade bill overhanging them
medium sized private pamukbank as announced a strong recovery in 1986 pre tax profit to 129 billion lira from 603 mln in 1985 while yapi ve kredi bankasi profits increased to 306 billion lira from 61 billion
strawbridge strw declares stock dividend
arland stangeland r minn is reported to have an amendment to expand the 0 92 provision to 1987 and 1988 feedgrains
the commodity credit corportion ccc has accepted a bid for an export bonus to cover the sale of 15000 tonnes of us wheat to west african countries the us agriculture department said
the tehran leadership have been quick to threaten vengeance after the us raids on the rigs one of which was destroyed
but broad money will continue to be taken into account in assessing monetary conditions as of course will the exchange rate the chancellor told parliament
drought hits thai rubber and fruit growers
the question is not if we want to penetrate the german market but how we are to do it van schaik said adding that while the widely traveled germans seemed to be developing a taste for foreign beer the internal structure was very regionalized
kentucky central kencao unit sells stations
there are a variety of contingencies and restricted cash and all sorts of things that make it very speculative said one of the sources adding there are also severance payments to employees
us payments gap to persist ex fed chief says
baker said it would be necessary for other countries to adjust their currencies upwards as well as remove their barriers to us imports
good demand for colombians on bremen market
prior to this move innovex owned 79 pct of lucht the company said
i think its the stock price telling us gaf is coming in with another bid said one analyst who values the company at 51 or 52 dlrs per share
the halt the first national strike by seamen in 25 years started on february 27 and union leaders said they would not return to work unless they got a 275 pct pay rise
the eight major new york city banks had daily average borrowings of 169 mln dlrs from the federal reserve in the week ended april 8 a fed spokesman said
eastern distributive beef trade weekly usda
under the plan its board declared a dividend distribution of one right for each outstanding common share held as of march 16
he was responding to questions about comments by baker who said the louvre accord was still operative but criticised rises in west german interest rates
of course they are less profitable than other variable rate mortgages said a spokesman for midland bank plc which earlier this year said it earmarked 500 mln dlrs for fixed rate new mortgage loans
irish oil concern boosts cenergy crg stake
parent company pre tax profit 197 billion vs 191 billion
there is a put option after seven years which will be priced to give the investor a yield to the put of 7 1 4 to 7 3 4 pct
taiwans state owned china shipbuilding corp csbc plans to seek joint production agreements with japan and further diversify into ship repairing to try to trim its debts chairman louis lo said
fed data released today were all in line with economists expectations and similar to the numbers of recent weeks
ford will invest 12 billion dollars in europe in 1987 and a total of seven billion over the next seven years he added
cyacq was unsuccessfully bid against dixons group plc for control of cyclops
the study should be completed in nine months and will determine any clean up or remedial action that may be required
giant food inc reported sales on a 52 week basis ended last month increased 104 pct to 248 billion dlrs compared to 225 billion dlrs for the prior 52 week period
theres no doubt consumption will be higher than production by the fourth quarter and stocks are not that high said an international trader in tokyo
aristech added that phenol production will increase to 610 mln pounds per year from 585 mln pounds a year now
traders said this is partly due to secondary smelters buying ingots to supplement feed supplies affected by environmental controls which put restrictions on the transport of used batteries
in its latest review of the foreign exchange market through the end of january the federal reserve revealed that it intervened to protect the dollar against the yen on january 28
soybean acreage in the eastern corn belt will not budge he said
the selling concession is 1 1 8 pct while management and underwriting combined pays 5 8 pct
john psarouthakis chairman and president of jp industries said that the company hopes to promptly negotiate an agreement with the special committee of clevites board
mhi group inc said it is affiliated with several investors who have entered into a letter of intent providing for the purchase of star of david memorial gardens and cemetery
indonesian crude palm oil exports in the first 11 months of 1986 were 469100 tonnes according to central bank figures against 652000 tonnes in the whole of calendar 1985
turning to 1986 results seipp said by year end there had been a strong growth in business volume
the letter also said the general acquisition offer jeopardizes the security and interests of its shareholders employees customers suppliers and the communities throughout the country where the companys facilities are located
at issue is the current soybean loan and the fact that at the present level of 477 dlrs without gramm rudman reductions it encourages foreign soybean production by making soybeans more profitable to grow than corn
the bank of france will not hold a money market intervention tender today ruling out a further cut in its 7 3 4 pct intervention rate central bank sources said
kidder peabody is co managing the issue
but vested japanese interests opposed to change remain well entrenched dimming prospects for quick reform analysts said
the belgian national bank said it cut one two and three month treasury certificate rates all by 010 points effective immediately
later the bank proposed to allot only 30 pct of subscriptions causing a general outcry among traders
french household consumption which rose by 31 pct last year is likely to grow by just 11 pct this year and 15 pct in 1988 it added
bankamerica corp bacn is coordinating private bank creditors in the far east and representing them on the committee they added
vertex vetx to buy computer transceiver stake
shipbuilders association officials told mhi is the worlds largest shipbuilder in terms of orders and capacity
president reagan announced the planned tariffs on march 27 after he said that close monitoring of the july 1986 us japanese semiconductor pact convinced us officials that japan was not honoring the agreement
furthermore representatives of the farm credit system commercial bankers and life insurance companies are meeting in an attempt to agree on a method of establishing the market
ec foreign ministers issued a statement deploring japans continued trade imbalance and appealed for the country to make a greater effort to open up its markets
firs 87 88 ec beet sugar estimate unchanged 1263 mln tonnes white equivalent
revenues fell to 24 mln dlrs from 33 mln dlrs
sales of corn to the ussr for delivery during the fourth year of the agreement which began october 1 1986 now total 2600000 tonnes it said
the bank of korea said it fixed the midrate of the won at 84430 to the dollar its highest level since february 26 1985 when it was 84390
it said iraqi exports are about 10 mln bpd through the turkish pipeline 01 02 mln by truck through jordan and 02 03 mln via the saudi pipeline to yanbu
the european community ec considers talks on agricultural trade reform to be inseperable from talks on other trade reform in the present gatt round willy de clercq external relations commissioner of the ec said
but there was no hint what the announcement might be
he said this will enable the requirement to be held to 4197 billion francs against the previous government target of 4178 billion or eight pct of gross national product
meanwhile bankers were to hear in new york this afternoon what impact brazils hard line would have on argentina with an initial presentation from argentine treasury secretary mario brodersohn on his countrys request for 215 billion dlrs in new loans and a multi year rescheduling agreement
a subsidiary of state energy concern ente nazionali idrocarburi entnmi eni said it has acquired a 50 pct stake in steuart petroleum co an independent us oil products company
a statement said foreign trade minister rino formica has signed a measure lifting currency regulations that currently impose a 400000 lire limit on the value of lira bank notes that can be brought into italy
i would concede that since the louvre accord we are acting as if we are in something leigh pemberton said
world bank report criticises peru economic plan
if there were a strike we would not expect any interruption in our service the nbc spokeswoman said
irt property co said it is in talks on the issucne in europe of 30 mln dlrs of 15 year two pct debentures convertible into common stock at 2350 dlrs per share
also on verhofstadts list are the maritime transport authority leading gas distributor distrigaz cger savings bank cger and several other credit institutions
japan details plan to stave off trade problems
swedish match ab smbsst 1986 year
tonka tka sees lower fiscal first quarter net
texas instruments common closed at 16725 dlrs up 2 1 8
they said the philippines was now willing to pay a spread of 7 8 percentage points over london interbank offered rates libor up from the 5 8 points it originally proposed
the rest would be new sales
deng sets limit to china grain imports paper says
qtr ended jan 31 net 553 mln dlrs vs 517 mln dlrs revs 4191 mln vs 3917 mln note revs include investment and other income of 184 mln dlrs vs 185 mln dlrs
the market at first interpreted this as indicating the us would be ready to scrap the louvre accord and let the dollar decline further unless surplus countries notably west germany try harder to stimulate their economies as pledged in the accord foreign exchange dealers said
paton reports us green coffee roastings higher
a grain elevator in burlington iowa exploded today leaving five injured
piw said that refiners in the mediterranean can expect increased shipments from saudi arabia and other opec export refineries
he said talks with cable amp wireless will continue this week
pakistan is not emerging as a major wheat exporter as world market prospects are not good enough sartaj aziz special assistant on food and agriculture to the pakistani prime minister said in an interview
inventories have steadily declined with supply and demand in better balance but overcapacity continues cra said
despite its highly liquid cash flow akzo did not plan acquisitions on a scale that would negatively influence the companys debt equity ratio loudon said
that the 40 billion stg psbr target was given credibility by the favourable outturn for 1986 87 which is now also forecast to be 40 billion stg
non callable for life the issue is rated baa 2 by moodys and bbb plus by standard and poors
senate agriculture committee chairman patrick leahy d vt said he wanted to go to conference with the house as soon as possible on the issue but would have to study the matter further before deciding how he would vote on it
all bids for wheat were rejected they said
norcros profits advance in 1986 87
shr loss 24 cts vs profit three cts net loss 982779 vs profit 104418 revs 112 mln vs 123 mln
in quito foreign minister rafael garcia velasco yesterday summoned ambassadors from about 40 countries to whom he issued appeal for emergency aid for the country
napa valley bancorp nvbc 1st qtr net
bank of new england corp bkne qtly dividend
under the system importers will be required to present a bill from the foreign seller of goods and apply for a license for foreign exchange
the meeting had been postponed from its original date of may 14 in order to let management review recapitalization options it said
oper shr 43 cts vs 21 cts oper net 6846000 vs 3386000 revs 1371 mln vs 1076 mln year oper shr 136 dlrs vs 42 cts oper net 21764000 vs 7239000 revs 5164 mln vs 4547 mln note 1986 qtr excludes extraordinary gain of 784000 dlrs or five cts share versus extraordinary loss of 110000 dlrs or shr nil in 1985 qtr note continued 1986 year excludes extraordinary gain of 14360000 dlrs or 94 cts share versus extraordinary gain of 2883000 dlrs or 19 cts share in prior year
group shr 1356 yen vs 2706 net 2161 billion vs 3893 billion current 3766 billion vs 4670 billion operating 5737 billion vs 7991 billion sales 1789 billion vs 1692 billion
the non callable bonds guaranteed by den norske creditbank will be issued in denominations of one mln yen and will be listed in luxembourg
their industries havent been doing it and i think well have a good settlement to spare both sides i think the japanese understand full well that they havent lived up to this commitment he said
voplex corp vot 1st qtr mar 31
lim who will sign and ratify the agreement on malaysias behalf when he visits new york during his current tour said it was important there should not be a long interregnum between the old agreement lapsing in october and the new one coming into force
it was commenting on figures for 1986 which showed pretax profits rising to 546 mln from 465 mln previously
coconuts are planted on about 32 mln hectares or one fourth of total agricultural land
us m 1 money supply falls two billion dlrs
but it said there was a continuing improvement in its core businesses
emery said chemical bank bankers trust morgan guaranty trust co and salomon bros had agreed to provide financing for the tender offer
she denied that any unpublished clause of the agreement guaranteed the bulk of the maize export business would go to the us as one ec official told yesterday
delegates earlier thought the meeting would end tonight but a further session is scheduled tomorrow at 1030 gmt to complete reports on stock verification
dotronix said video monitors sales for the fiscal year ended april 30 1986 were 76 mln dlrs
business editor offers 34 dlrs for harper hpr 
but the officials said they expect the ec to allow us plants to continue shipping meat through the end of the year provided they submit a plant improvement program with the us agriculture department
theyre all lower he said
crazy eddie crzyo amends shareholder rights
there is no controversy over continuation of mfn for hungary and china
restoration of coffee export quotas before october seems unlikely ico producer delegates
since the administration made known its reflagging plans congressional leaders complained they had not been consulted and some charged the policy could lead the united states into the 6 1 2 year old war between iran and iraq
engineering measurements co said it formed a general partnership with several external investment groups in which the company will have a 585 pct interest and be managing partner
ouko said the production of kenyas main cash crops increased during the second half of last year
oakridge holdings inc 2nd qtr dec 31 net
it is extremely important that the us market reduce its restrictions on chinese imports provide the needed facilities for them and businessmen from both sides help to expand chinese exports the editorial said
south yemen plans oil export pipeline mees
the us agriculture department is seeking public comments on the question of adjusting the commodity credit corporations ccc discount and premium schedules to improve the quality of grain it accepts as loan collateral or under price support programs
usdas economic research service for example has found that between june and august last year the 215 mln bushels of corn exchanged for certificates lowered the price of corn by between 35 and 45 cents per bushel
the company said the discussions have led to a general understanding by which nippon life would purchase a 13 pct equity investment in shearson lehman for approximately 530 mln dlrs and american express shearson lehman and nippon life would explore mutually advantageous nonexclusive business and investment opportunities the company said a definitive agreement on the matter is subject to a number of conditions including approval of the american express board and the japanese ministry of finance
brazil today suggested to its foreign bank creditors an extension of short term credit lines for 60 days until may 31 a spokesman for the central bank said
a consumer delegate said producers and consumers should be able to compromise on the non member cocoa question
trans world airlines said carl icahn withdraws acquisition offer
city resources ltd said it has agreed in principle to sell a 50 pct interest in a group of mineral properties in the southwest pacific to a buyer it did not name for 30 mln canadian dlrs
systematics inc syst 3rd qtr feb 28 net
bangladesh navy unloads grains during port strike
ea viner holdings ltd eavkf 4th qtr loss
nicaraguan foreign trade minister alejandro martinez cuenca was in london to brief international coffee organisation ico executive board producer members after a meeting last weekend in managua attended by eight latin american coffee producers to discuss the fall in coffee prices
the lower costs for raw materials and energy resulting from the lower dollar could not compensate the fall in revenues
analysts generally average the sales results of march and april to account for the variation of easters occurrence
the selling concession is 1 1 8 pct while management and underwriting combined pays 5 8 pct
the stake had been acquired from telecom plus international inc
sale date and announcement of rates is set for tuesday march 17 1987
but land losses in future should fall because nearly all families already have new houses she added
bond prices had been making a smart recovery from two days of heavy selling when citibank surprised the market by announcing a quarter point increase in its prime rate to 7 3 4 pct
oper shr loss 227 dlrs vs loss 162 dlrs oper net loss 127 mln vs loss 121 mln revs 600 mln vs 262 mln year oper shr loss 516 dlrs vs loss 156 dlrs doper net loss 290 mln vs loss 124 mln revs 1393 mln vs 1100 mln note 1985 operating losses exclude profits of 195 mln dlrs or 264 dlrs a share in quarter and 206 mln dlrs or 274 dlrs a share in year from discontinued operations 1985 loss in both periods includes pre tax charge of 169 mln dlrs on write down of oil properties
cosmo oil co ltd the third largest seller of oil products in 1985 cut its workforce by some 20 pct last year a spokesman for the company said
american motors corp said it produced 2578 us cars in march down from 5922 in the same 1986 month
the company said it recently reported 1986 profit of 59 mln dlrs or 151 dlrs a share before extraordinary items compared with 22 mln dlrs or 81 cts in 1985
there is a 1 1 4 pct selling concession and a 5 8 pct combined management and underwriting fee
today brazils 50000 university teachers in the 42 federal universities launched a national strike with a broad political demand as well as a pay claim
a spokesman said the company had previously expected this to be completed by the end of 1987 and has not estimated how far into 1988 the process will extend
the very existence of all these bilateral irritants clearly emphasises the need to develop multilateral solutions to some of these problems the eighth gatt round of negotiations was launched at punta del este in uruguay in september 1986
in october 1985 washington outlined a debt crisis strategy under which commercial banks and multilateral institutions such as the world bank and the international monetary fund imf were urged to step up lending to major debtors nations
non callable for two years the issue is rated b 2 by moodys and b minus by standard and poors
the ministry later approved the arrangement
transcanadas proposal amounts to a quasi debt restructuring oil analyst doug gowland of brown baldwin nisker ltd said from toronto
the report said the regions improved economic growth last year was based on a rise in internal demand and fuller utilization previously underused production capacity
the two sides in the rotterdam port general cargo dispute have agreed to appoint an independent chairman han lammers to preside over future meetings employers spokesman gerard zeebregts said
note period year to december 31 1986
the committee also voted for legally binding quantity and quality requirements on the materials mostly metals
advanced computer techniques actp year net
japanese term buyers of saudi lpg are expected to lift slightly lower volumes from january 1987 when imports from indonesia are slated to increase the sources said
mcguinness is a producer and marketer of spirits and also has exclusive agencies for some imported wines and spirits
leading industrial nations to meet in april
proceeds will be used for general corporate purposes and possible acquisitions micropolis said
there is no need to react to every small fluctuation in commodity prices or to do so on a daily basis heller said in a prepared text
the european communitys annual inflation rate fell marginally to 32 pct in may from 33 pct in april the ecs statistics office eurostat said
he said that before the announcement of the suspension of interest payment brazil was paying about 500 mln dlrs a month to its commercial foreign creditors
however as showers fell intermittently after last weekend producers feared another spell of prolonged and intense rain could cause more damage to crops already badly hit this season
the deal is available in denominations of 5000 dlrs and will be listed in luxembourg
carolin said the results sharply disagreed with an earlier assay performed by intergold usa inc which showed 10 ounce of gold per ton and 050 ounce of platinum per ton
central bank and other government officials were not available to comment on the report
shr 20 ct vs 27 cts net 1048000 vs 1368000 revs 9457000 vs 5386000 note dollar amounts converted from irish pounds at noon buying rate of the federal reserve bank of new york at dec 31 1986 of 14105 dlr per one irish pound
matsunaga cited issues such as a us japan micro chip trade pact foreign access to the kansai international airport project and a new international telecommunications firm
west german exports to us drop sharply
the minister said that he had proposed a four year plan to the creditors which would include a rescaling of the commitments derived from its debt
opec produced an average 161 mln barrels per day bpd of crude oil in february down from 165 mln the previous month and an overall 173 mln bpd in fourth quarter 1986 the international energy agency said
london traders said the g 7 communique failed to curb underlying bearishness toward the dollar but this negative sentiment was not yet strong enough to tempt interbank operators to test the downside
but marcano said the bulk of payments to be made this year are on private debts and non rescheduled public debts
artra group inc ata 4th qtr oper loss
carling okeefe ckb sells oil unit takes gain
in its first year as a member of the european community portugal recorded a deficit of 981 billion escudos in its trade with the other community states compared with a deficit of 24 billion escudos in 1985
shr 20 cts vs 20 cts net 1981000 vs 1689000 rev 247 mln vs 196 mln nine months shr 59 cts vs 53 cts net 5855000 vs 4360000 rev 709 mln vs 519 mln note fiscal 1986 per share data reflects dilutive effect of shares issued for april 1986 convertible debenture conversion
following redemption 274 mln dlrs of the debentures will be outstanding
yugoslavia has almost 100 pct annual inflation lagging exports and low productivity
the telex could be sent to creditors as early as today bankers said
venezuelan oil through the first half of 1987 has averaged 16
the economys performance in the future very much depends on fiscal policy he added
amounts for 1985 and the first three qtrs of 1986 have been restated to reflect the retroactive application
shr loss two cts vs profit 38 cts net loss 90000 vs profit 1685000 revs 1826000 vs 293 mln year shr profit 337 dlrs vs profit 46 cts net profit 150 mln vs profit 2047000 revs 262 mln vs 1236 mln note net includes pretax securities sale gain 10000 dlrs vs loss 1000 dlrs in quarter and gain 486000 dlrs vs loss 112000 dlrs in year
jestin said given the fact the us economy is showing signs of weakening particularly car sales it would indicate that part of the strength in canadas trade figures is probably transitory
arkla alg proposal to settle dispute
the japanese will continue to shop for bargains but it will be harder to find ones that are politically acceptable japanese firms are likely to favour joint ventures or smaller equity stakes in firms to avoid the political backlash that blocked the fairchild sale analysts said
final div 8p making 13p vs 12p
contrary to a projected low yield on tankoku short term interest rates have been resisting a fall on growing demand for funds ahead of the march 31 financial year end they said
fundamental management chairman carl singer was recently elected to the robeson board
the media company said it currently has 40950000 common shares issued and outstanding and upon completion of the reverse split will have 1638000 shares outstanding
she told a conference here on medium term notes that gmac is looking to obtain as fine pricing on the paper as it does with its program in the us the notes will be sold on a continuously offered basis the most popular structure so far in the us
the companys cash and equivalents fell to 299 mln dlrs at year end from 430 mln dlrs at year end 1985 after a net decrease of 131 mln dlrs during 1986
cattlemen often give their animals a constant supply of antibiotics in feed to help them grow faster
trade sources said colombias coffee was today quoted at 114 dlrs a lb in new york its second lowest price in the past 10 years
argentine subproducts shipments in 1986
he said borrowing arising from money market operations would amount to an additional 29 billion dlrs making a total of 298 billion dlrs just short of the borrowing limit of 30 billion dlrs
the departnment said exports to the us may be benefiting from fluctuations in the mark and yen exchange rates
acme precision products inc said it set its annual meeting for may 14 for shareholders to vote on the proposed management led leveraged buyout of the company
the company did not elaborate on production figures for the property
shell caltex bp revise singapore petrol prices
by drawing on its parent companys strength a weaker finance subsidiary can achieve a credit rating as high as its parent
ecuador says suspends oil exports due earthquake
shr nine cts vs 17 cts net 275000 vs 490000 rev 24 mln vs four mln six months shr 29 cts vs 31 cts net 885000 vs 884000 rev 61 mln vs 71 mln note companys full name is herley microwave systems inc
it assigned a ccc plus rating to hyponexs 150 mln dlrs of senior subordinated debentures due 1999 that were priced wednesday for offering
ricoh co ltd rictt year ended march 31
taiwan issues more certificates of deposits
market sources put the total value of ccfs privatisation at between four and five billion francs
the government does not set money supply targets arguing they are inappropriate to a small economy with major trading and monetary links with much larger trading countries
the treasury said it reserved the right to close the issue early
soybeans 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 2303 2284 1759 1758 production 9998 9943 9674 9653 imports 2621 2627 2708 2708 crushings 7969 7933 7616 7615 ttl domes 9753 9640 9236 9234 exports 2645 2643 2602 2601 end stocks 2523 2571 2303 2284 note imports and exports do not balance due to differing marketing years and time lags between reported exports and imports
soros group has bf goodrich gr stake
the company said it will begin paying a regular quarterly dividend in the second quarter but the board has not yet determined the exact amount
also analysts noted the budget does not go overboard with measures that are seen as generous to the wealthy
uk money rates harden on lawson currency targets
completion date of the new mill was undisclosed
about one third of the deficit was with japan
cake sales were registered at 785 to 995 dlrs for march april 785 dlrs for may 753 dlrs for aug and 039 times new york dec for oct dec
royal gold rgldo agrees to make acquisition
sri lanka and the international monetary fund imf have reached agreement on the broad outline of economic reforms but tough negotiations are likely before the imf approves up to 240 mln dlrs in loans a senior finance ministry official told 
the company said the production phase of the contract has a potential value of about 300 mln dlrs
swedish sources said major paper mill projects and an aviation agreement would be discussed during carlssons one week visit
the national livestock and meat board will receive 644000 dlrs to continue work in educating health care officials
bigelow said that times home box office added subscribers last year and the trend is continuing in the first quarter of 1987
investors set deadline for japan fund jpn 
finance minister kiichi miyazawa told a parliamentary committee he expects major nations to reafffirm the currency pact they struck in paris when they meet this week in washington political sources said
henley said that depending on prevailing conditions including price and availability of sante fe stock substantial developments affecting sante fe other investment and business opportunities available to henley henley may additional sante fe shares or sell all or part of its investment in sante fe
burns fry chairman jack lawrence told the newspaper the investment dealer has not made a final decision but was examining three or four alternatives discussions between brokers about possible mergers is to be expected pending industry deregulation one investment industry source who asked not to be named told 
consumer groups are politically weak and tend to accept the traditional view that higher prices are a small fee to pay for national food security they said
franco nevada said it has a four pct royalty plus a five pct net profit interest on the acreage
the shares last traded at 1930 dlrs
fhs administers and markets multiple office dental practices in the dallas metropolitan area as well as dental offices in the dallas metroplex
hydro said the drop was caused by failure to bring on stream a second well cutting september production to just two days
the midamerica commodity exchange an affiliate of the chicago board of trade cbt that offers smaller versions of several futures contracts traded on other exchanges will begin trading in its new quarters within the cbt complex on march 30 the cbt announced
a minor tax payment period on behalf of customers mid month the long easter weekend and pension payments were unlikely to tighten rates significantly
they said exchange contracts which the government no longer recognizes were signed with the central bank for this refinancing at 43 per dollar
the ministry instructs banks to establish reserves for up to five pct of their loans to 35 financially troubled countries but it only grants tax breaks on reserves accounting for one pct of the loans
at current prices china loses yuan on every tonne of grain it exports though it earns foreign exchange which it badly needs the trader said
penril pnl seeks to sell two units
fruehauf posts 203 mln dlr 1986 loss
oper shr profit nine cts vs loss seven cts oper net profit 628000 vs loss 491000 sales 507 mln vs 418 mln avg shrs 7033000 vs 6557000 note oper net excludes extraordinary profit of 423000 dlrs or six cts a shr and 110000 dlrs or one ct a share respectively in 1987 and 1986 quarters from utilization of tax loss carryforwards
flooded areas total between 12 and 15 mln hectares buenos aires province governor alejandro armendariz said after flying over the flooded area
american motors corps board of directors is meeting this morning in new york to consider chrysler corps c 15 billion dlr takeover offer an american motors spokesman said
immucor blud splits stock
the ministry said citibank which chairs mexicos bank advisory committee has received cables from the british banks confirming said commitment the ministry said the books on the package would be closed by mid april and the first 35 billion dlrs of the new money should arrive by the end of the month
sri lanka gets usda approval for wheat price
the dti will pass the ball to her as soon as she returns tonight a dti official said
ec commission authorised to buy maize in june
news international bond increased to 150 mln dlrs
most economists are predicting over the weekend system repurchases
there will be a tender panel for the acceptances and advances
the us will pursue its complaint that european governments unfairly subsidise the airbus industrie aircraft consortium in proceedings at the gatt civil aircraft committee a gatt spokesman said today
conable said there was no indication that the soviet union was serious about joining the international monetary fund and world bank
he said ico quota talks broke down last month because consumer members lack the political will to fully support commodity agreements and because consumers tried to dictate to producers
government officials in malaysia a major cocoa producer have declined to say whether it will join the international cocoa agreement icca for which buffer stock rules were agreed in london last week
the us agriculture department announced colombia has been made eligible for sales of up to 15000 tonnes of barley malt under the departments export enhancement program eep
moodys assigned a ba 3 rating to its convertible preferred stock
the issue is non refundable for 10 years
currently reagan can reject trade sanctions on any grounds
lower global interest rates in 1986 had nipped earnings margins via traditional lending activities he said
the issue was increased from an initial offering of 50 mln dlrs because of investor demand
they said exports from the ras tanurah and juaymah terminals in the gulf fell to an average 19 mln bpd last month from 22 mln in january because of lower liftings by some customers
fc beatty of us packer john morrell and co told the japan times beef cuts which sell for 120 to 300 dlrs a pound in the us are sold at 15 to 30 dlrs in japan
caltex petroleum corp said it will raise posted prices for naphtha and several grades of residual fuel in bahrain effective march 25
1 1986 to mobay corp another bayer ag affiliate
canada corn decision unjustified yeutter
rubio said he was aiming for the lower end of the range
canada january trade surplus 533 mln dlrs
the allocation rate on the last facility was 385 pct compared with 360 pct
imf managing director holds talks in ivory coast
a jefferies spokesman said the sec had asked for information a few months ago as part of an informal probe
dauster rejected reports which said brazils inflexibility had been the cause for the breakdown of talks noting that its stance had the backing of 85 pct of producing countries
senior ec diplomats gave a generally favourable reaction to an ec executive commission proposal under which the ec could raise tariffs on a range of japanese products if the us carries out a threat to make a similar move on april 17
the sale excludes certain real estate assets of joskes and cain sloan which allied estimates have an aggregate value of 30 mln dlrs based on current market conditions
the company said that in early april its oak brook hills hotel and conference center in suburban chicago will open under its management
soybeans rallied in response to tuesdays usda report that farmers intend to plant 569 mln acres this year down from 615 mln planted last year
westlb raises australian dlr bond to 75 mln
ohio edison sells 30 pct of nuclear interest for 509 mln dlrs
spc earlier announced its pump prices of 968 cents and 906 cents for 97 and 92 octane respectively for 015 gm lead petrol which is being sold in singapore from today in line with the ministry of environments regulations
the company said it will propose an increase in its dividend rate if the split is approved effective with the june payment
hewlett packard co said it reduced prices by up to 15 pct on two models of its hp vectra pc an international business machines corp pc at compatible personal computer
note net is after tax 1047 mln vs 727 mln interest 258 mln vs 955 mln depreciation 506 mln vs 761 mln and minorities nil vs same
the issue will be co led by banque nationale de paris caisse nationale de credit agricole and the societe marseillaise de credit
brown and sons inc subsidiary is lead underwriter
icco executive director kobena erbynn will draw up what some delegates called a pre compromise and present it to the buffer stock working group at 1130 hrs gmt tuesday they said
the central bank has so far not issued its own paper the sources said
the long term capital account surplus was 198 mln dlrs in february against 211 mln in january and 55 mln in february last year
shr 36 cts vs 36 cts shr diluted 34 cts vs 31 cts net 1679000 vs 1418000 sales 1472 mln vs 1215 mln avg shrs 4608000 vs 3963000 avg shrs diluted 5585000 vs 5463000 nine mths shr 104 dlrs vs 86 cts shr diluted 93 cts vs 77 cts net 4387000 vs 3393000 sales 4203 mln vs 3387 mln avg shrs 4233000 vs 3948000 avg shrs diluted 5564000 vs 5468000
im tired of going into companies and having managers say to me were not over competing in japan because we cant compete in the marketplace that argument needs to be taken away from american business gephardt said
when asked if the usda emergency storage program which allows grain to be stored in barges was taking up barge space and accounting for the higher freight rates sindt discounted the idea
braverman said economic activity next quarter will suffer from a paring of inventories lower capital investment slow government spending and less construction
shr loss 89 cts vs loss 21 cts net loss 3030548 vs loss 548442 revs 1519360 vs 1081915 avg shrs 3399993 vs 2725425
the sharp drop in world oil prices the past year triggered a 60 pct increase in bankruptcies in the countrys oil states according to a study released by the american petroleum institute api api said the dunn and bradstreet study found that business failures rose nationally by 69 pct in 1986 over 1985 but in the oil patch of the southwest the increase was 599 pct
it said it is raising jet and kerosene postings 25 cts bringing jet to 525 cts and kerosene to 515 cts
first commercial bancorp fcob 4th qtr loss
the company said it granted the special bonuses which take effect only if an executive is fired within two years of a successful takeover on june 8
shipment will be from the gulf or great lakes if us origin they said
continental federal savings and loan association said it was told that an estate holding 38 pct of its stock plans to sell its stake at a premium over the current stock price
yield on 91 day sama deposits rises
american west bank first qtr net
ecuador cannot service its debt owed to private foreign banks due to the earthquake that forced a suspension of crude oil exports central bank officials said
ultramars marketing units include ultramar golden eagle ltd which in 1985 made a profit of around 14 mln stg before financing and group administration charges
iceland to privatise state bank utvegsbanki
earlier today usda rejected its bids of 70 dlrs for both varieties they said
he gave no further details
southwest said the houston properties made up about 10 pct of its current value equity as of december 31 of 1420 dlrs per share down from 1668 dlrs a year before
requiring the agriculture secretary conduct a study of the canadian wheat board import licensing system for wheat to determine if it is a non tariff trade barrier
an italian press report today said montedison has agreed to acquire antibioticos for 500 billion lire
banner also said it received 310 mln dlrs pursuant to a credit agreement with citicorp industrial credit inc and the bank of nova scotia and 260 mln dlrs from an offering made through drexel burnham lambert inc
shr 1458p vs 786p div 65p making 975p an increase of 194 pct pretax profit 832 mln stg vs 315 mln net after tax 686 mln stg vs 377 mln pretax profit 832 mln stg vs 315 mln consists of long term business 459 mln stg vs 438 mln us long term business 62 mln vs 89 mln fund management 47 mln vs 65 mln short term business 47 mln vs loss 290 mln associate companies 09 mln vs 08 mln shareholders other income and outgoings 04 mln debit vs 05 mln credit exceptional long term business profit 214 mln vs nil
if the recent offer had gone through the zico would have owned slightly more than 50 pct of bancrofts outstanding shares
i cant take the burden only to the banks he was not sure how long it would take to reach a solution
while japan has already done about all it can to make sure the chip pact is working the government is studying measures it can take in other fields to defuse american anger and ensure the trips success they said
soviets outline 1988 economic targets
chang said the pace of increase in our reserves is much slower now than before and our currency is getting more stable he said the reserves mainly the result of the trade surplus with the us rose at the rate of two to three billion us dlrs a month between january and may
baker noted that the benefits of a weaker currency take 12 to 18 months to affect the trade balance and said it is now 18 months since the plaza agreement to lower the dollars value
but one senior banker said he too was guardedly optimistic a deal could be struck possibly by the end of the week
in canada the rig count was up by two to 183 against 324 one year ago
fed seen adding reserves via system repos
he said 16000 miles of its 23000 mile fiber optic telephone line are now in the ground and 7000 miles are operable
shr 46 cts vs 42 cts net 3418000 vs 3129000 revs 247 mln vs 262 mln
qtr ended march 14
taiwan issues more cds to curb money supply growth
otf equities inc otfe 4th qtr net
jude at an exercise price of 100 dlrs
the national bank said the drop was due to a deterioration in trade
australian foreign ship ban ends but nsw ports hit
were considering it he said its one of those dinosaur laws and i think its time has come the second figure which would always be lower by deducting freight and insurance presents the deficit in a more favorable light for the reagan administration
boliden says it now leader in mining gear
get a green card if you have to but dont come home without a deal we can all be proud of he said
siemens raises stake in telecom plus of us 
wilhelm christians said
the violations were worth 100 mln dls to the japanese semiconductor industry they said
first boston won the bonds in competitive bidding
brazil has a storage capacity of 66 mln tonnes theoretically sufficient for the crop
angell care master lp acr raises quarterly
mobil did not name any underwriters for the offering
it said proceeds from the proposed sale will be used to repay bank debt fund a deposit of the first three interest payments on the debenture repurchase 350000 common shares at 446 dlrs per share from former parent company plantronics inc plx and to fund future product development and marketing
facilities of the suez mediterranean arab petroleum pipelines company at sidi kreir 32 km southeast of alexandria were closed this morning after one tanker loaded and sailed
note in april company intends to acquire michigan sealy licensee and fund transaction with 25 mln dlrs in cash and borrow balance required from banks
terms of the acquisition were mot disclosed
but quotas must be negotiated sometime he said
in january completions of single family units rose 04 pct to a seasonally adjusted 1183 mln units from 1178 mln units in december while multi family units fell 13 pct to 701000 units in january the department said
occidental oxy offers over 37 mln shares
the tremor damaged an oil pipeline thus barring all crude exports for a projected five months
the transfer payments surplus widened to 75 mln dlrs in february from 73 mln in january and 60 mln a year ago
the senior government official said the fourth quarter performance of the domestic sector was probably worse than generally expected while that of the external sector was better
cotton for december delivery was 135 cents higher at 7095 cents a lb at midsession after peaking this morning at 7125 cents
argentinas chief debt negotiator said he was confident of a prompt accord with international creditor banks for rescheduling the countrys foreign debt
on january 11 the mark was revalued by three pct against the french franc relieving pressure on the french currency
takeuchi said sales are expected to fall 40 pct to 1700 billion yen for the fifth consecutive year on year drop
we should pay particular attention to the lack of continuing conditionality associated with the use of the cff and to whether shortfalls in export earnings are indeed temporary he said
the bankers traced the inspiration for the market back to the february report of us consumer prices for january when a jump of 07 pct raised again the threat of inflation
foreign exchange trading profits rose to 379 mln dlrs from 270 mln but bond trading profits dropped to 219 mln dlrs from 262 mln
tanzania sells maize to malawi mozambique zaire
european community to set up office in peking
north attleboro serves 2273 residential customers 288 commercial customers and 40 industrial customers
however he acknowledged signs were still lacking on such a decline
i think there was a time that they british manufacturers thought the exchange rate was uncomfortably high
american petrofina inc said its auditor peat marwick mitchell and co has qualified its opinion of the companys annual report because of the unknown impact of the us energy departments investigation into crude oil trading activities which occurred during the 1979 1981 period
tenneco is a gargantuan enterprise with seven billion dlrs in long term debt and preferred stock outstanding he said the buyer would also have to deal with the intractable problems tenneco faces with its farm equipment unit and energy businesses
a definite decision on wirsbo will be taken later this year
subsequently it sold almost all its domestic oil and natural gas properties and retired all us bank debt in march 1987 with part of the proceeds
the assets acquired will be used to form a new divisional office serving the northwest the nursing home operator said
both issues are priced at par
one diplomat said the call for a report showed ministers were determined not to let the japanese question drop
two or three years ago a showdown between the worlds largest debtor and its largest creditors would have sent shock waves through the financial markets
quaker oats co said keystone partners inc has purchased vernells fine candies inc previously an indirect subsidiary of quaker
philippines trade and industry secretary jose concepcion told world trade ministers he wondered if their agreement was of any real value after the european community ec proposed a levy on vegetable oils
loss 756 mln gross sales 593 billion vs
aztec manufacturing co aztc 4th qtr loss
the fed said that business loans including acceptances fell 971 mln dlrs to 28022 billion dlrs
lyng called us and european community export subsidies just plain nonsensical as a long term policy and said he saw an end to the expansion of the eep
the executives o
it said it received a similar qualified opinion in 1985
the company also reported that george elkas formerly executive vice president has been named president and chief operating officer of flexi van corp while william burns has been named executive vice president of flexi van
responding to the republican plan agriculture secretary richard lyng and trade representative clayton yeutter said they favor a flexible targeted use of eep instead of an across the board program which they termed too costly
emanuel was not refering to debts to foreign governments and multilateral organisations the spokesman said
in terms of current as well as constant prices the narrowing of the surplus was progressing the bank said
it added that david a
the company said the reason for the cutbacks was because it would not be purchasing a property it had anticipated and alternative investments will produce significantly lower yields than anticipated
calmar clmi seeks to be acquired by kebo ab 
the index base 1975 closed here today at 721 unchanged from the previous close
berliner bank outlines losses
average interest rates on yen certificates of deposit cd fell to 427 pct in the week ended february 25 from 432 pct the previous week the bank of japan said
the highest rate is 1750 pct
in paris britain canada france japan the us and west germany agreed to coooperate to hold currency rates around their then current levels
of jamaicas foreign debt of 33 billion dlrs only 12 pct is owed to commercial banks and seaga yesterday reaffirmed the governments policy of not seeking new bank loans
the major challenge to bank profits in turkey came in 1980 when the government faced with its worst financial crisis in 50 years raised domestic interest rates sharply to fight an inflation rate of over 100 pct and launched an export drive
under the arrangement milar to one in 1980 coffee importers would voluntarily present needed documents to the us government until congress approves the monitoring authority but if coffee arrives without valid certification it will still be allowed entry
we hope we can survive and prosper through diversification he said
i made it clear that the proposal was not one that i expected to leave out there if we could not resolve it at this meeting baker said
it also cited southdowns repurchase of 28 pct of its common stock and the financing of that transaction by debt
it owns 13 banks a data services company a mortgage company and a trust company serving st
after ashers edelman recent history a lot of people dont find him very credible anymore said one arbitrager
the bank also bought 400 billion yen in two month commercial bills to smooth out tight credit conditions in the interbank market today the officials said
she said the government was determined not to intervene to influence production decisions by oil companies operating in the north sea
sindt however did not rule out the possiblity of implementing more minor changes in its pricing system
black hawk mining cant explain stock rise
schlumberger ltd most likely has an alternate buyer lined up for its fairchild semiconductor unit wall street analysts said
the price of coffee kenyas main source of foreign exchange fell in london today to about 94 cents a pound from a peak of 214 dlrs in january 1986
analysts are watching with interest the fate of a new us consortium which hopes to challenge japan by developing the most advanced technology for microchip manufacturing
bonus reg may 6
enserch corp ens sets quarterly
senator richard lugar of indiana ranking republican on the us senate agriculture committee has not decided whether to introduce an administration backed bill to apply the so called 0 92 provision to 1988 through 1990 grain crops an aide to the senator said
the group gave no reason for the sales
upland minerals acquires brazil mining firm
icn pharmaceuticals inc told the securities and exchange commission it has acquired 556500 shares of syncor international corp or 50 pct of the total outstanding common stock
chrysler corp said it valued its proposed buyout of american motors corp at 757 mln dlrs not counting the effect of a contingent payment that could reach 350 mln dlrs based on amcs future profits
as a result they have attracted complaints from a business community that says it is starved of funds while the government is criticising it for not playing a larger role in the economy
the paper quoted us intelligence sources as saying the missiles appeared to be of a chinese design known as hy 2 which is based on the soviet ssn2 or styx missile
french industry is failing to produce the goods its markets need and its loss of competitiveness has left the government little room for manoeuvre to reflate the economy the organisation for economic cooperation and development said
he said the debate on dedramatising ems realignments reflected a general feeling among participants that the way the january reshuffle had been conducted was unsatisfactory
iranian oil minister arrives in algeria
telco systems inc telco 3rd qtr may 31 loss
these actions reflected security pacifics continued high levels of nonperforming assets and charge offs s and p said
bil executives were unavailable for comment
study shows only limited optimism for silver
the program that the new funding supports is designed to continue the adjustment and restructuring effort so as to achieve sustained growth a lower rate of inflation and a balance of payments viability in the medium term
balletto told a conference of canadian farmers at alberta agricultures annual farm outlook conference that the world vegetable oil situation is one of potentially tight supplies
cabrera said a 50 mln dlr floating rate note frn issue by colombia is expected to close next month
the main suppliers in 1986 were australia 44 pct the us 29 pct canada 12 pct argentina 8 pct and saudi arabia 5 pct
ual inc offering 55 mln shares of common stock at 5650 dlrs per share
ramon diaz secretary of the presidential commission on good government pcgg said anheuser busch had told the government it was interested in buying 14 mln b shares of san miguel
however several congressional sources said they expect a broader 0 92 provision to emerge again when the house agriculture committee is faced next month with the need to make spending cuts in the agriculture budget for fiscal 1988 as part of an overall deficit reduction package
it previously announced a plan to sell its stakes in both hong kong land and dairy farm to newly created jardine strategic holdings ltd in which it has a 41 pct interest
1 well vermillion parish la
the delegates include us trade representative clayton yeutter
ransburg corp rbg 1st qtr feb 28 loss
they agreed to make it easier for a company to get temporary relief from import competition but agreed the industry should provide a plan to become competitive
indeed moodys announced friday that its original rating of b 1 for the holiday inns notes remained appropriate
petro canada crude up 32 cts canadian bbl
the current borrowing limit of 30 billion dlrs will therefore constrain the ability of the exchange fund to continue to take in these fiscal reserves by the issue of interest bearing debt certificates he said
shr 10 cts vs two cts net 262000 vs 38000 revs 112 mln vs 5858000 avg shrs 2589045 vs 2588364 nine mths shr 46 cts vs 26 cts net 1179000 vs 601000 revs 327 mln vs 187 mln note all per shr data adjusted to reflect 10 pct stock dividend distributed in 2nd qtr 1987
the uk government is in no hurry to issue more bonds suggesting further market improvement and continuing demand from brokers here said laurie milbank and co assistant manager machiko suzuki
the warrants will be exercisable between june 1 1987 and april 2 1992
amro said the bonds the second dual currency issue in the dutch market in two weeks is aimed at investors who expect the dollar to rise in the medium term
iranian and western diplomats say iraq started the war by invading irans territory in 1980
the long term capital account deficit widened to 1140 billion dlrs from 806 billion a year ago but it narrowed from 1232 billion in january the ministry said
1 1986
the prices are ridiculous said julian mateo vice president of costa ricas sugar cane industrial agricultural league
yemen
medar mdxr changes fiscal year
it said it has the non cumulative option to retire an additional 25000 shares on any sinking fund payment date
treasury secretary james baker said that brazil should come up with a new economic plan if it hopes to get additional assistance from commercial banks and others
through the deal he said venezuela will be assured the sale of at least 140000 bpd of crude and products
dravo corp said it expects a first quarter loss of about 30 cts per share compared with a year earlier profit of one ct and said operating earnings for all of 1987 may not match 1986s earnings of 61 cts per share from continuing operations
niagara mohawks prime 2 commercial paper was left unchanged
the current practice of filing tax redemption claims is time consuming they said
analysts expect gasoline stocks to rise 500000 to two mln barrels above the 234 mln reported for may 22
seaboard corp seb 31 week year net
howard berman d calif would like to see the definition extended to include sugar cane cultivation of which is a breeding ground for one of the scandals of the nation gene smith a spokesman for berman said
underwriters were not named in the draft prospectus
the december quarter was significantly affected by the introduction of a 10 pct value added goods and services tax gst in october 1986 it added
shr profit 32 cts vs loss 130 dlrs net profit 2704000 vs loss 7589000 rev 1052 mln vs 823 mln note qtr net includes extraordinary gain of 11 mln dlrs
dealers said they expect the six britain canada france japan the us amd west germany to meet just before the imf world bank interim committee meeting in washington starting on april 9
the company said the special interst rate program applies to ann new 1986 and 1987 pontiacs sold from dealer stock and delivered to customers during the program period
petro canada to drill two terra nova test wells
soriano was named as one of the buyers in a bid in march 1986 for 33 mln shares controlled by ucpb
the exporters had delayed in expectation of a further yen depreciation dealers said
shr 23 cts vs 12 cts net 1535000 vs 783000 rev 400 mln vs 287 mln
oper shr 42 cts vs 11 cts oper net 1433000 vs 382000 revs 386 mln vs 201 mln year oper shr 60 cts vs 49 cts oper net 2033000 vs 1682000 revs 904 mln vs 730 mln note 1985 4th qtr and year excludes extraordinary credit of 349000 dlrs or 11 cts per share
the deposit interest rates are now savings and 24 hours two pct seven day call one week and two weeks 2 1 4 pct one month and two months 2 3 4 pct three and six months 3 1 4 pct nine months 3 1 2 pct and 12 months four pct
the company also said it still intends to pursue a new corporate direction and is exploring acquisition alternatives
echo bay mines ltd said it discovered a gold deposit in the cove area near its mccoy gold mine in nevada
oper shr 91 cts vs seven cts oper net 4356774 vs 289764 revs 692 mln vs 502 mln avg shrs 4736692 vs 4151672 note 1985 net excludes 3027714 dlr loss from discontinued operations
for one thing it is unlikely that there will be any new investment in those manufacturing industries that shrank when the dollar was at uncompetitive levels he said
another oecf official told japan is likely to approve the loan because it is technically and economically viable if approved the loan would carry a coupon rate of four pct a grace period of seven years matsuya said
johnson matthey raise pretax profits by 678 pct
he did not say what crops have been damaged in northeast thailand but said large durian orchards in eastern chanthaburi province have suffered heavy losses
us officials have also said the sale would give fujitsu a powerful role in the us market for supercomputers while japans supercomputer market remains closed to us sales
these developments were increasing the bundesbanks scope for a rate cut in the medium term economists said
it said the dividend was payable april 15 to shareholders of record march 31
he said that at present there was virtually no sugar held in intervention stores
the reserves comprise 1640779 tons proven reserves grading an average of 0163 ounces of gold a ton and 3262161 tons probable reserves grading an average of 0127 ounces of gold a ton
however they were unsure to what extent the loans would and could be changed
a versar spokesman said he was unable to divulge any further information
rank organisation plc rankl said trading in the current year had continued satisfactorily taking into account seasonal fluctuations
funaro said however he was told creditors understand brazils position and do not wish to turn the negotiation for the renewal of the credit lines more difficult
current oil production is 80 barrels a day it said adding that no gas was produced for sale in 1986
deposits of non bank customers also increased in january to 349 billion from 338 billion a month ago and 277 billion a year ago
federal reserve board vice chairman manuel johnson said the dollar has stabilized against other currencies after action taken by the fed
portugals gdp forecast to grow four pct this year
american express said it is continuing to evaluate various courses of action of strategic importance to shearson lehman in addition to the possible investment by nippon life
citicorp has made clear its decision to move three billion dlrs to reserves does not mean it is writing off the loans
a similar argument was made on capitol hill earlier this week by federal reserve board chairman paul volcker
fees include a one pct combined management and underwriting and a one pct selling concession
shr 26 cts vs 36 cts shr diluted 25 cts vs 36 cts net 1389000 vs 1412000 revs 569 mln vs 351 mln avg shrs 5412000 vs 3962000 year shr 90 cts vs 75 cts shr diluted 86 cts vs 75 cts net 4692000 vs 2961000 revs 2014 mln vs 1400 mln avg shrs 5234000 vs 3954000 note results for 14 and 53 week periods ended january 3 1987 vs 13 and 52 week periods ended december 28 1985 1985 net in both periods includes gain of 99000 dlrs from tax loss carryforward spokeswoman said average shares outstanding on a diluted basis were not available
nestle said it decided to stop manufacturing cans in order to be in a better position to take full advantage of the changes underway or on the horizon in food packaging technology
the nation would be lucky to produce over seven mln bags 630000 tonnes of maize this year he stated
so far today the bank has provided the market with assistance worth 646 mln stg
el paso electric will use proceeds of about 6844 mln dlrs from sales and leasebacks completed in 1986 of its entire ownership interest in palo verde nuclear generating station unit 2 to redeem the double digit debt
the 174 mln tonne figure was revised from 176 mln tonnes
chris craft industries inc ccn regular payout
a spokesman for gardner today said the former director had no contact with emery nor did he have any other buyers lined up for purolator
cbc said the merger will not affect citizens banks name management board of directors or employees
this kind of acreage reduction will mean a significant reduction in production an analyst said
towle also said that as a result of its restructuring its sales for 1987 will not exceed 100 mln dlrs
first boston corp said it is selling 150 mln dlrs of deposit notes due 1992 that it bought from mellon bank na a unit of mellon bank corp
alltel corp is raising 50 mln dlrs through an offering of debentures due 2022 yielding 890 pct said lead manager merrill lynch capital markets
he added that the current discussions were a reaffirmation of that agreement indicating that the solidarity that occurred in paris was still in place
terms of the acquisition were not disclosed
the issue is guaranteed by american express co
buckhorn inc bkn sees higher profits in 1987
you cant expect to get very far at the first meeting one banker said
the proposed agreement is subject to approval by the french government it said
thai venture will sell rubber to china
as of 1 april the valuation used under the formula had still to be agreed so oldham had yet to give a firm recommendation to its shareholders regarding the value of the the offer
an index reading above 50 pct generally indicates that the economy is in an expanding phase
customs figures show that china imported 773 mln tonnes of grain in 1986 up from 597 mln in 1985 but down from a record 1615 mln in 1982
or if it was worth doing we had to go it alone lichtenberger explained
the discovery well samedan oil corps ocs g 5537 well number one was drilled in 25 feet of water to a total depth of 7500 feet and found 38 feet of net gas pay in a 48 foot gross sand interval the company said
taft stock rose 2 7 8 to 155 3 4
it attributed the acceleration to higher fuel and water prices
ceradyne inc crdn 4th qtr loss
gustafson said he would not be changing his estimate of planted acreage for corn as a result of the latest figures but some other analysts said they would adjust their estimates slightly
phoenix financial phfc buys data access stake
in addition to shares sought in the tender shareholders of bpi owning 1951720 shares or 346 pct have agreed to sell their shares to computer associates for the tender price
borg warner has said its management is not a participant in the transaction but managers will retain their positions
goldman sachs given bogus exxon bonds in trade
march eight shr loss 31 cts vs loss 47 cts net loss 256 mln vs loss 394 mln sales 3981 mln vs 3223 mln avg shrs 916 mln vs 900 mln nine mths shr loss 44 cts vs loss one dlr net loss 327 mln vs loss 844 mln sales 136 billion vs 108 billion avg shrs 912 mln vs 896 mln note twelve and 40 week periods
great american first savings bank is issuing a 15 billion yen eurobond due april 2 1992 paying five pct and priced at 101 3 4 pct lead manager nikko securities co europe ltd said
first of america fabko acquires keystone
milastar corp mila 3rd qtr jan 31 loss
they said mexicos new debt package last october marked a 1 16 point drop from its 1985 debt agreement while manilas new pact slashed its 1985 agreement by up to 3 4 percentage points
ajinomoto to buy out joint food venture partner
coffee for delivery in may ended at 9928 cents a pound on the new york coffee sugar and cocoa exchange down 076 cent and the lowest price since august 1981
a spokesman for usair declined comment and said usair had not changed its offer for piedmont
metropolitan financial corp said it signed an agreement to acquire the stock of closely held rothschild financial corp st
monetary and diplomatic sources said there are no signs any new debt initiative of the sort that treasury secretary james baker unveiled 18 months ago in seoul is in the works
that decision spurred by brazils suspension of interest payments on february 20 reduced the quarters net income by 20 mln dlrs to 2264 mln dlrs compared with 2339 mln in the first three months of 1986
shr profit four cts vs loss six cts net profit 967000 vs loss 1219000 revs 101 mln vs 45 mln year shr profit three cts vs loss five cts net profit 688000 vs 982000 revs 246 mln vs 163 mln note 1986 includes results of louisiana energy and development corp acquired in november 1986
gros speaking to reporters yesterday after his first meeting with brazils bank advisory committee since he was appointed last month also promised a clear statement of brazils economic policy would be made in the next few days
home savings bank hmsb sets initial quarterly
there has been speculation that chancellor helmut kohl would try to replace poehl with a man closer to his own christian democrats
rocky mount rmuc expects profit in first qtr
treasury secretary james baker said he stood by the paris agreement among leading industrial nations to foster exchange rate stability around current levels
mcintyre did not specify the cash amount of the sale
ceasars world caw studying sosnoff offer
union national unbc signs definitive pact
under a reorganisation announced separately hongkong electric will spin off all its non electricity related activities into cavendish which will be listed on the local stock exchange
the company said the new agreement extends a prior debt moratorium on principal and interest payments on approximately 30 mln dlrs of long term debt to june one 1987
of a total 11254837 erodoble acres submitted usda accepted 10572402 acres into the program at an average rental payment of 5117 dlrs per acre
the bonds will be sold by a syndicate led by salomon brothers inc
international clinical laboratories inc iclb 
the cause of the explosion and the extent of damage to the elevator was not immediatley known
canadian oil exports rose 20 pct in 1986 over the previous year to 3396 mln cubic meters while oil imports soared 252 pct to 2058 mln cubic meters statistics canada said
the bond is guaranteed by den norske creditbank and is available in denominations of one mln yen
kpa will hold 70 pct of the shares in the new company
other banks such as saudi british bank 40 pct owned by the british bank of the middle east are disadvantaged by a relatively low deposit base
morrison sees 1987 earnings at 125 dlrs and 1988 at 175 against losses in 1986
the stock of philip morris cos rose today following recommendations by first boston corp and morgan stanley and co traders said
community bank system cbsi buys nichols bank
but we are also frustrated the official said the 40 pct rise of the yen over the last 18 months has hit japan hard forcing exporters to slash spending and lay off workers to make up for lost sales abroad
granma said rainfall over the past year has been less than 50 pct of normal precipitation
sources within latin america and the caribbean hold little hope for the regions sugar industry to return to profitability unless the us and ec change their policies
the bank is primarily a development institution not a debt management agency
a boti official said weve had worldwide interest in the deal she noted the tokyo stock market had experienced a mild correction at the beginning of the week but that bank stocks were hardly affected
bremer landesbank kreditanstalt finance curacao nv is issuing a 40 mln australian dlr eurobond due april 24 1990 paying 15 pct and priced at 101 3 8 pct lead manager anz merchant bank ltd said
european agriculture was facing severe problems but both the community and the us should work closely within the framework provided by the general agreement on tariffs and trade he said
to prevent a resurgence of inflation the bank will take a very cautious stance regarding developments stemming from easy credit conditions he said
hre properties hre 1st qtr ends jan 31 net
purolator last year topped turnover of 465 mln dollars the spokesman said
the ministers resolved that the proposed closures which should bring production capacity more in line with weak demand remain considerably below the surplus in capacity they asked the ec executive commission to consult with eurofer major steel companies and with governments to pinpoint scope for further capacity reductions beyond the annual 1526 mln tonnes identified by eurofer
at a time when the world is attempting to liberalize trade in the new rounnd of multilateral negotiations it is incomprehensible that a country that stands to gain so much from the reduction in agricultural trade barriers would threaten that process by caving in to pressures for protectionism council president darwin e
it is available in denominations of 1000 and 10000 stg and will be listed in luxembourg
the acquisition is being evaluated by geodyne board members not employed by the company painewebber or any company affiliated with painewebber
the company responded that the proposal would be submitted to the board of directors but that no decisions have yet been made on a sale of the company
poehl says currency market intervention cannot substitute for correct economic policies if exchange rates are imbalanced
but growth rates will be smaller than last year with 15 to 25 pct likely in most industrialized countries he told a news conference
standard and poors corp said debt ratings on 840 mln dlrs of debt of baker international corp and hughes tool co remain on creditwatch
farah said it expects to turn a profit for the balance of 1987
sources close to italian state owned investment bank imi said earlier this month that a convertible issue was being considered but gave no details of the amount involved
oper shr 154 dlrs vs 82 cts oper net 337 mln vs 1766 mln revs 4731 mln vs 4190 mln nine mths oper shr 460 dlrs vs 239 dlrs oper net 1004 mln vs 510 mln revs 138 billion vs 121 billion assets 185 billion vs 155 billion deposits 1300 billion vs 1129 billion loans 1504 billion vs 1256 billion note oper net excludes extraordinary loss 6636000 and 119 mln for 1987 qtr and nine mths on prepayment of borrowings from the federal home loan bank board
detailed consideration of the issue has been shelved during thatchers official visit to the soviet union which ends today
the underlying reserves increase is net of borrowings and repayments
coffee quota talks continue no accord seen likely
one banker said banks were wary of repeating a mexico type accord which some 70 small creditor banks are still refusing to endorse five months after it was signed
acc corp 3rd qtr net
genova inc gnva 1st qtr dec 27 net
the analyst who requested anonymity said i wouldnt believe this one unless theres a deal on the table loral corp officials were not immediately available for comment
the us agriculture department is proposing to permit coverage of freight cost and marine and war risk insurance for sales of all agricultural commodities sold on credit terms under the commodity credit corporations ccc credit guarantee programs
non refundable for 10 years the debentures will be subject to a sinking fund beginning in 1998
revenues in the nine months are expected to be about 3880000 dlrs compared to 1828000 a year ago
the sale price was not disclosed
the relatively high level of real us interest rates suggests that there is scope for further declines in money market rates but the federal reserve is unlikely to promote such a drop as long as the dollar remains volatile said jp morgan and co inc chairman lewis preston
prior to 1986 sigma conservatively reported only proven reserves that could be mined without future development costs
analysts have been divided on whether it makes sense for american express to give up a stake in the wholly owned brokerage which improved its after tax earnings by about 50 pct in the last year
extruded ingots from the plant will be converted to sheet in an existing hot rolling mill
1986 qtr and nine mths exclude 36 mln dlr gain on investment securities
colombian finance minister cesar gaviria blamed an inflexible us position for the failure of last weeks international coffee organisation ico talks on export quotas
this is in accordance with its normal policy
in a separate announcement the company said it received confirmation from the european patent office that sonex successfully defended its beta european patent from a competitor
lear petroleum partners lp lpp 4th qtr loss
they havent found too much oil in bass strait lately and esso needed a large pool of ongoing production goldston morris said
the latest rescheduling is for the shipping to hotels conglomerate redec
safety kleen sk to buy stake in oil refiner
rbi said exporters of products not covered by either of the two groups will be eligible to use up to five pct of their freight on board value of their annual export earnings
thomas noted the rise in m0 had been kept in check despite buoyant retail sales in february advancing an adjusted 22 pct after a fall of the same size in january
news corp nws starts harper row hpr bid
gould gld registers to offer preferred
burnham american propoerties bapyzo 2nd qtr
the us agriculture department detailed world supply demand data for major importers and exporters of soybean oil by country in mln tonnes argentina 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 010 010 010 010 production 077 077 073 073 imports nil nil nil nil domes use 010 010 011 011 exports 066 066 063 063 end stocks 010 010 010 010 brazil soybean oil in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 032 028 024 024 production 252 251 235 235 imports 015 015 012 012 domes use 200 200 194 198 exports 065 065 045 045 end stocks 034 028 032 028 ec 12 soybean oil in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 022 022 023 022 production 232 233 226 226 imports 044 044 050 050 domes use 146 145 138 138 exports 129 130 139 139 end stocks 023 023 022 022 india soybean oil 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 012 007 021 021 production 017 017 015 015 imports 035 035 025 025 domes use 052 052 049 054 exports nil nil nil nil end stocks 012 007 012 007
finlands state owned mining company outokumpu oy said in a statement it was entering spanish markets as a shareholder in iberica del cobre sa a manufacturer of copper products
in addition the six mths 1986 includes a 23 mln dlr gain on the sale of a unit and a one mln dlr writedown of a minority interest investment
the hull and machinery of the herald of free enterprise were valued at 25 mln stg and were insured by townsend thoresens parent company peninsular and oriental steam navigation co plc porll the vessel was in turn reinsured in the london market with lloyds and various other companies larner said
gencorp said it is seeking an injunction against the offer because it is violates federal securities laws and margin regulations
the united states and a group of other industrial nations on thursday granted argentina a 500 mln dlr bridge loan
kaltenbacher to acquire seton for 1575 dlrs per share in cash
british telecom third quarter pre tax profit 506 mln stg vs 452 mln
some factors like less storage space from excess stocks meant we could not buy much at the auction until we disposed of the rubber we already had one buyer said
redstone 63 catapulted himself into the big leagues of entertainment early today when a group of viacom managers and their financial backers decided not to top nationals bid
vestar inc vstr year loss
the bank will transfer the remaining 460 mln dlrs that it is entitled to transfer to fdic by september 26 1987 swearingen said
last weeks dollar fall was partly triggered by expectations that the germans were more worried about the money supply impact of such intervention than maintaining currency stability
charan reported profit of 30 mln dlrs in 1985
bilzerian said he and a tampa fla investment firm he controls called bicoastal financial corp may acquire additional shares or they may seek to acquire one or more positions on pay n paks board of directors or to acquire a controlling interest in the companys shares by tender offer or otherwise the statement was made in a filing with the securities and exchange commission
4th qtr shr nine cts vs four cts net 658159 vs 299930 revs 3770341 vs 2614224 avg shrs 7382802 vs 6747442 year oper shr 33 cts vs 18 cts oper net 2287179 vs 1045799 revs 131 mln vs 8577853 avg shrs 6874505 vs 5951612 note 1985 year net excludes 13000 dlr tax credit
natl loan release call avge rate x level price price oats 124 099 v 165 barley na 156 iv 255 255 v 265 sorghum 234 325 y iv 536 536 v 554 reserves i ii and iii have matured
parent foreign turnover 1162 billion vs 1232 billion
assets of 91 institutional funds rose 356 mln dlrs to 6619 billion dlrs 198 general purpose funds rose 2125 mln dlrs to 6294 billion dlrs and 92 broker dealer funds rose 1519 mln dlrs to 10777 billion dlrs
shr 38 cts vs 36 cts prior pay july 31 record june 23
all options are open at this moment in the context of cooperation on oil production a venezuelan energy and mines ministry source said
indeed eurobond traders estimate that about 80 pct of all new debt issued here last year over 186 billion dlrs worth was part of either an interest rate or currency swap
kansas city hard wheat futures rose another 2 1 4 cents by midday at 288 1 4 dlrs per bushel while cbt march wheat was up 1 1 2 cents at 292 1 2 dlrs
shr 32 cts vs 26 cts net 722000 vs 597000 nine mths shr 92 cts vs 69 cts net 2100000 vs 1500000 note full name of company is florida employers insurance co
excludes loss 256000 for 1986 net for extraordinary item
fed adds permanent reserves by buying coupons
it said b and d is a private company headquartered in kansas and had sales of 4700000 dlrs in 1986
s and p said it projected debt to capital pro forma for the stock buy back at more than 67 pct compared with an average of 586 pct for the five years through 1985
the government said in january it was aiming for real growth in gross national product this year of 25 pct but some economists have revised their predictions down to two or below
lai sun gained 50 cents to 7050 dlrs
however stocks were well below the 282 mln held at the end of january
japan could avoid a sharp rise in the value of the yen against the dollar if japan the us and other nations succeeded in restructuring their economies an advisory panel to the governments economic planning agency epa said
the controls will create more paperwork but the extra bank charges will not outweigh the profits of speculation said the manager of a european bank
available seat miles rose 291 pct in march to 4642 mln from 3595 mln and 368 pct in the three months to 133 billion from 9709 mln
in addition many japanese companies are committed already to large german banks
seaxe is engaged in international oil and gas exploration and development primarily in the paris basin of france
townsend thoresen operate two other ships identical to the herald of free enterprise but brabazon said it was not planned to pull them out of service at present
bonn expresses support for us on ec veg oil tax
the purchase of the remaining united presidential stake follows washington nationals buying 85 pct of united presidential in a 19 dlrs a share tender offer which terminated december 12
the results also included an 113 mln dlr extraordinary writedown on the value of the laid up oil exploration drillship regional endeavour
under the other proposal received from paul bilzerian pnp shareholders would receive on a blended basis 1667 dlrs in cash and 333 dlrs in liquidation value of cumulative redeemable preferred stock for each common share the company said
i think the paris agreement represents evidence that international economic policy co ordination is alive and well baker said
nortek inc ntk sets quarterlies
north east insurance co neic 4th qtr loss
year on year private sector credit grew 3068 pct in december against a revised 2230 pct in november and 232 pct in december 1985
the senate was expected to approve the legislation this week
union texas said for the full year it restated its loss to 575 mln dlrs from 495 mln dlrs and revenues to 126 billion dlrs from 127 billion dlrs
it was a bad investment for them
but the company said it has not held negotiations with charter crellin and does not intend to initiate further discussions
it really does not mean that he took the opportunity as it came up one official said
morgan crucible co plc mgcrl said the prospects for 1987 were encouraging with orders and sales significantly up on last year in all divisions
on a year over year basis the federal agency said the index fell 09 pct in january the largest yearly decline on record
at that rate they would have been of little use for a political party expecting to call an election in june
earlier this week moodys and s and p upgraded the companys debt
closing of the acquisition is scheduled for april
pepsico pep upgraded by kidder peabody
however he said there would likely be changes in the market access proposal from the plan which cleared the house last year
samedan a noble unit is operator and owns a 60 pct working interest in the well
more
cba novel australian dlr issues upped to 125 mln
shawmut corp shas 1st qtr net
for harvesting to resume as normal the rains would have to stop long enough for the soil to dry and allow farm machinery to operate
neither palomino nor conades general manager enrique estremadoyro were available for comment on whether foreigners would be allowed to purchase the companies
the commission also defended proposals to dismantle monetary compensatory amounts mca a system of cross border subsidies and taxes to level out foreign exchange fluctuations for farm exports against harsh west german criticism
the company also remained silent last thursday and friday as rumors drove american express stock up a total of 5 1 2 dlrs in two days to bring it to a friday close at 74
texaco sees business little hit by bankruptcy move
countries dont get very serious about negotiating until the end of the day which is maybe five or six years in the future he also said he did not consider the new us congress as protectionist as it was 18 months ago
more
moodys investors services inc said it downgraded about 82 billion dlrs of debt of texaco inc and its units
reagan vetoed a similar measure last year
oecd europe zinc stocks rise in january
under terms of the transaction each norstar shareholder will receive 12 shares of fleet common stock based on the number of fleet shares after giving effect to a previously announced april one fleet stock split
washington announced plans last week to slap up to 300 mln dlrs in tariffs on japanese electronic goods raising the spectre of a trade war between the two countries
the number of people actually receiving benefits under regular state programs totaled 3014400 in the week ended feb 14 the latest period for which that figure was available
first quarter sales rose 615 pct to 3729 mln dlrs reflecting the acquisition of columbian chemicals and increased copper shipments from the chino copper mine in new mexico also acquired last year
a contraction is unlikely to be a major concern for the fed especially as it would follow a long period of torrid growth but it could give the central bank extra leeway in the weeks ahead if it decided that a relaxation of monetary policy was justified on account of weakness in the economy
westinghouse says it expects at least 10 pct earnings shr growth through 89
southland slc unit raises crude prices
japans housing starts in february rose 134 pct from a year earlier to 109254 the 10th successive year on year gain the construction ministry said
two turkish iron and steel companies were lent a total of 145 mln dlrs for modernisation projects to be paid over 10 years with a two year grace period
the key three months interbank sterling rate gained 1 16 point at 10 9 7 8 pct
clabir corp said its 86 pct owned affiliate ambrit inc abi has agreed to acquire the popsicle industries division of sara lee corp of canada ltd for about 37 mln canadian dlrs in cash
the acquisition if subject to international american arranging financing
de croo said at a news conference if you limit textile imports you will re orient textiles to europe and that he said would trigger ec taxes on us goods
sept 30 shr seven cts vs five cts net 234504 vs 157862 revs 4096000 vs 3007383
those fears are unfounded he said
bally manufacturing corp said it expects a charge to earnings in the first quarter of this year of 173 mln dlrs as a result of its deal to buy back 26 mln of its common shares from real estate developer donald trump
bankers have estimated that brazil owes uk banks around 85 billion dlrs in long and medium term loans giving the uk the third largest exposure after the us and japan
manila said to offer debt bonds to banks
japanese crushers continue to concentrate on rapeseed purchases since it converts to a higher percentage of oil than other oilseeds they said
investors raise stake in purolator pcc 
commerzbank ag cbkgf said it will acquire linotype gmbh europes largest manufacturer of type setting and printing communications technology from allied signal inc aldn and float off the shares in the company
mining is monopolised by zccm and accounts for about 90 pct of the countrys foreign exchange earnings
dealers said major consumers still need to cover their may and june requirements but are holding out for even lower offers
finance minister kiichi miyazawa said the government had expected the increase and had set aside money to help 300000 people find jobs in fiscal 1987 beginning in april
although prices have risen to around eight from five us cents per lb in the past six months they are still below the regions nine to ten cents per lb average production cost
moodys and s and p ratings are pending
the commerce department advised the pentagon recently that defense objections to two proposed sales to an iranian power company and the islamic republic of iran news agency were not valid and the sales of small and medium computers would go through unless more evidence was presented
last week carl c
the chemical partnership will also give texas commerce an edge in developing new consumer products he said
english denied the allegations
it would complement the present system of opening or closing the monetary screws based on the pattern of inflation key indicators such as unemployment and the rise or fall of the money supply
siemens wants to amend telecom plus tele pact
morgan stanley and co ms rose 4 1 4 to 74 7 8
reserves have increased every year since 1983 at a compounded rate of 10 pct a year
justified calls by debtors for more flexibility from the banks were blocked because us regulations made solutions such as capitalising of interest virtually impossible he said
mexican state oil firm petroleos mexicanos pemex signed for a 500 mln dlr27untied loan from the export import bank of japan to finance its pacific petroleum project pemex japan representative tito ayal said
shr loss 48 cts vs profit 77 cts net loss 3923000 vs profit 11551000 year shr profit 180 dlrs vs profit 232 dlrs net profit 30171000 vs profit 36667000 loans 338 billion vs 317 billion deposits 381 billion vs 328 billion assets 555 billion vs 478 billion note full name western savings and loan association
political sources said the government of president jose sarney was closely following the strikes and the overall fuel supply situation
taylor said profitability of the banks international operations remains weak reflecting resource related difficulties of private and public sector borrowers and unsatisfactory results from capital market activities
cra ltd craas 1986 net
neoax inc said it has agreed to sell the assets and business of its novatronics division to veeco instruments inc vee for 20 mln dlrs
producers of industrial materials operated at 789 pct of capacity the same as in january and december but down from the february 1986 rate of 796 pct
de groote also said the company expects excellent results in the second quarter ended february 28 but would not be more specific
this paradoxically is creating a problem for the maize board kahn and kahn said
it has nearly 68 mln shares outstanding
colombias coffee marketing to be more flexible
the non callable bond is available in denominations of 1000 and 10000 canadian dlrs and will be listed in luxembourg
this led for instance to the introduction of a tighter monetary stance from the beginning of december until the half point cut in rates in late january
shad who had been vice chairman of the e
london traders said yesterday the rebate was the largest ever granted
ball bll to supply penny blanks to mints
poehl warns against further dollar fall
texas american said regulatory approval ofthe transaction is expected in december and the sale will close shortly thereafter
it said the debt bonds will entitle holder banks to a guaranteed return on both interest and principal since no payment of any kind is made until the bond matures
zambia expects sharply reduced maize crop
were looking a more favoured market than perhaps the us where some people would be concerned about the value of the us dollar lloyds bank nza ltd chief economist will buttrose said
it is a key to seeing whether there are any teeth in the quota agreement said one major us roaster
oil analysts and traders said they were not sure if the shutdown will continue to raise us oil prices
the bank of canada ottawas fiscal agent in the marketplace revealed this week that sharply reduced borrowing needs has allowed the shift toward shorter bond terms and heavier emphasis on the weekly treasury bill auction issued in terms of up to one year
first union corp said shareholders of first north port bancorp of northport fla have approved a merger into first union for 40 dlrs per share or about 5100000 dlrs
combustion said it expects further restructuring of core businesses particularly lummus crest this year through staff reductions downsizings and the consolidation of facilities
australias leading wheat markets include china egypt iran iraq the soviet union and japan
the tender offer will be conditioned upon among other things the completion of financing arrangements
it also said steven reid a company founder and president of the test division has made an offer to purchase the unit
ccc seed credit gurantees for algeria usda
a communique read over the state run television tonight said that during todays weekly cabinet meeting the veteran ivorian leader reaffirmed his faith in ivory coasts bright economic future despite the commodities price slide
returning to changing levels of interest rates lawson stressed that they are not an objective for the government they are an instrument of policy consequently the treasury had no precise target for domestic borrowing levels he said
but it also said the two companies were not able to agree on mutually satisfactory final terms and conditions
cocoa consumers accept compromise buffer plan
usair rejected the offer and said it asked the department of transportation to dismiss the application
fees for the issue include a 1 1 4 pct selling concession and a 3 4 pct combined management and underwriting fee
correction march 30 yugoslav trade falls in belgrade item of yesterday yugoslav trade falls in 1st qtr on year ago please read on page one this year current exchange rates were used for the first time instead of a fixed rate of 26453 dinars to the dollar corrects from 2453
s korean february current account surplus narrows
the result includes profit and loss transfers from bankhaus centrale credit and the visa organisation
crude futures could jump above 19 dlrs a barrel but will not remain there long if products are not strong robert murphy account executive at ef hutton said
the agent said honduras is seeking vessels to deliver 7369 tonnes during a period that includes laydays of april 15 30 and 12000 tonnes with laydays of may 15 30
qtly div 11 cts vs 10 cts prior pay may 14 record april 17
rockefeller says brazil solution will be found
us grain certs save 50 100 mln dlrs amstutz
a foreign ministry statement said the latest crisis between the two nato members stemmed from the continental shelf dispute and an agreement on this issue would effect the security economy and other rights of both countries
centuri inc cent year net
miltope group inc milt 4th qtr net
it gave no further details
qtr 1985 excludes estimated loss 3354000 for disposal of hcl leasing corp sold july 1986 as well as its operating results prior to this date
many had expected to fed to buy bills for itself thereby adding permanent reserves to the banking system
uluslararasi endustri ve ticaret bankasi as interbank a large privately owned trade financing bank in turkey is seeking a 20 mln dlr committed export advance facility morgan guaranty ltd said as lead manager
the company said in the first quarter ended january 31m it completed the divestiture of its health maintenance organization operations to travelers corp tic sold its whittar steel strip operations to dofascoxinc and sold its equity investment in bertram trojan inc to an affiliate of investcorp the company said it has entered into definitive agreements to sell whittaker general medical corp bennes marrel sa of france and juster steel corp as well
phlcorp phx has breakeven results
asked whether opec members of the gulf cooperation council gcc had any concrete proposals to help qatar sell its crude oil in the face of strong resistance to its official prices subroto said apparently they have taken care of that they the gcc meet very often among themselves
bank of japan to sell 800 billion yen in bills
these arrangements confirm south africas continued willingness to maintain good relations with its foreign creditors and to meet its foreign commitments in a orderly way du plessis told a news conference
safeway agrees to severance for dallas workers
mcm corp to delay yearend report
state owned aerospace group aerospatiale said it will make an issue of euro commercial paper next month backed by a 400 mln dlr seven year revolving credit facility granted by 44 banks in december 1986
white house says japanese tarriffs likely
those released include former carical president francesco del monte who was vice president of one of italys largest state banks bnl banca nazionale del lavoro at the time of his arrest
i think the president would rather wait till the new congress convenes after the may elections he said
the associations said they would form the company by exchanging republics stock for shares in the holding company which pioneer savers could purchase when pioneer converts from mutual to stock ownership
that matches the spread over treasuries for the finance units equal sized same maturity offering on january 6 that was priced to yield 7948 pct
india cut the export duty on coffee to 330 rupees per 100 kg from 600 rupees effective march 23 a coffee board official said
dnc international finance as is issuing a 10 billion yen eurobond due april 7 1994 with a five pct coupon and priced at 102 3 8 pct yamaichi international europe ltd said as joint book runner with tokai international ltd
however first national bank of chicago tokyo branch assistant manager hiroshi mochizuki said the dollar will not show drastic movement at least to the end of march other dealers said the us seems unwilling to see any strong dollar swing until japanese companies close their books for the fiscal year ending on march 31 because a weak dollar would give japanese institutional investors paper losses on their foreign holdings which could make them lose interest in purchases of us treasury securities
a bid by san miguel corp smc sanmmn to buy back 381 mln sequestered shares from united coconut planters bank ucpb has been hit by two new lawsuits sources in the philippine food and brewery company said
honduras authorized to buy pl 480 commodities
most analysts said fujitsu was likely to go the more costly route of expanding its own production and distribution facilities in the us although some said it could use the estimated 200 mln dlrs set aside for buying fairchild to try to acquire some less politically symbolic firm
on june 30 1987 foreign brokers will be allowed to own up to 50 pct of canadian brokers and the percentage will rise to 100 pct a year later
official reserves totalled 7205 billion dlrs at end december compared with 4723 billion at end september and 3255 billion one year earlier
there will be a 1 3 8 point fee for selling and 5 8 for management and underwriting combined
rlr financial services inc said the national association of securities dealers has decided not to delist its stock from nasdaq on march 12 as it had threatened
the steep fall is due to japanese investors cool attitude towards us bonds which had amounted to more than 80 pct of total foreign securities purchased securities houses managers said
aaron rents inc arono year net
the program will affect drilling done anywhere in canada on or after april 1 1987
chemlawn said if waste management inc wmx intends to participate in the bidding process it will have to submit a confidentiality agreement to chemlawn financial advisor smith barney harris upham and co inc
japanese trade representative tsomu hata told an informal general agreement on tariffs and trade gatt meeting that in addition to demand boosting measures adopted last september a comprehensive economic program will be prepared after the 1987 88 budget is approved
speculation that edelman was going to take a stake in polaroid was kicking around a few months ago and resurfaced today one trader said
colombias main oil pipeline attacked
cuba tells traders sugar exports may be delayed
stoltenberg declines comment on possible changed targets for currencies
the white house reacting said it did not favor amending the tax code but would look at the proposal
duff phelps lowers duquesne light dqu debt
opecs problem is not a price problem but a production issue and must be addressed in that way said paul mlotok oil analyst with salomon brothers inc
february price rises were mostly in housing health education entertainment and transport
the rally began last week as proceeds from a sell off in dollar paper flooded into stronger currencies
mobil france to take 10 pct stake in primagaz
its a hodge podge of non related businesses he said
when simex and the sydney futures exchange sfe introduced us treasury bond futures last autumn the sources expected to see fierce rivalry between the two exchanges ending with only one winner in asia
striking brazil seamen threaten mass resignation
meanwhile the state iron company ferrominera saw its profits rise from 156 mln bolivars in 1985 to 204 mln bolivars last year
no french reflation sources close to balladur say
speaking at the annual meeting of the national grain and feed association glickman said he learned this week from the house budget committee that the agriculture committee will have to reduce the fiscal year 1988 farm budget by up to two billion dlrs from the 30 billion dlrs level already approved
their separate proposals some of them conflicting will be woven by house democratic leaders into a final trade bill for a vote by the full house in late april
despite the improvement in order rates and operating results year to year pricing continues to be aggressive for many products it said
henry sweetbaum is chairman and chief executive of both cityquest and wickes and it was intended that cityquests name would be changed to wickes in due course
the warrants are exercisable from may 18 1987 until april 13 1992
primary gilts dealers need not buy at auctions
so far so good he told a meeting of bankers in lagos adding that only members of nigerias import dependent elite would suffer hardship while the common man would benefit
last weeks statement from the seven reaffirmed a february 22 agreement in paris in which the reagan administration agreed to reach a budget deficit compromise with congress and to fight protectionism
among those ideas the official said were suggestions that commercial banks create a megabank which could swap third world debt paper for so called exit bonds for banks like regional american or european institutions
qtrly div 17 cts vs 17 cts prior pay april 13 record march 25
gte gte unit debt upgraded by s p
us at un claims self defense for gulf attack
one veteran debt rescheduler said volcker together with the bank of england deserves credit for keeping the banking system intact after mexicos default
republic which is controlled by cincinnati ohio financier carl lindner and his american financial corp said it bought 219000 buckeye units between may 14 and 22 at prices ranging from 2249 to 2302 dlrs each or about 50 mln dlrs total
fed not expected to add reserves
the government says industrys competitiveness is also being hit hard by inflation
the group will also ask for authorisation to issue in any currency bonds and warrants for a maximum of ten billion francs and to underwrite the issue of bonds and shares in any currency for a maximum of ten billion francs
securities and exchange commission chairman john shad said the sec favors shortening the current 10 day period for disclosing takeover attempts but opposes putting restrictions on the use of so called junk bonds
twa twa tangles piedmont pie situation
mobil oil corp said it will restructure its dallas based mobil exploration and producing services inc operations april one to provide stronger technological support to its us and overseas operations
soros has told the company today that he is not dissatisfied with management fairchilds bill fulwider told 
shr loss five cts vs loss 15 cts net loss 619000 vs loss 1730000 sales 3138000 vs 5667000 avg shrs 125 mln vs 115 mln year shr loss four cts vs loss 40 cts net loss 343000 vs loss 3963000 sales 134 mln vs 353 mln avg shrs 125 mln vs 103 mln
it said 600000 dlrs of the loan will cover the foreign exchange costs of consultancy services equipment and training abroad for technical and financial personnel
dataflex corp dflxo 4th qtr march 31 net
these figures were down by 125 pct on last year in dollar terms due to exchange rate fluctuations and changes in how the figures were calculated fso sources said
analyst said
brenda mines selling kerr addison shares
the uk government tomorrow will release the first of its retail price index rpi figures calculated on a revised group of components and rebased on january 1987 as previously announced the employment department said
cineplex odeon corp said it agreed in principle to acquire the walter reade organization inc new york cinema chain from coca cola cos entertainment holdings inc unit for 325 mln us dlrs
a leading spanish broker said the central bank was applying a more restrictive policy to keep the lid on inflation
but analysts said the crisis interrupted current policies and could slow economic development
his proposal to revitalize texas oil industry would exempt stripper wells that produce 10 barrels of oil or less each day from the states 46 pct severance tax
finance minister cleopa msuya said the government expected to spend 7733 billion shillings in the financial year 1987 8 39 pct more than this years estimate
as a result it said the estimated total cost of the planned smelter will be held to 450 mln us dlrs the low end of the range estimated in mid may while the cost of the first phase was cut to 150 mln dlrs from the projected 175 225 mln dlrs
but heineken scientists have been looking at other possibilities
the issue is guaranteed by internazionale fiat holding sa and is accompanied by a 200000 currency warrant package
he said costa rica would press for quotas based on the real production and export potential of each country in the past few years and to distribute quotas based on historic production levels rather than recent harvests and crop estimates
gross national product grew 13 pct in the fourth quarter
us and uk bank regulators are asking banks to set aside more reserves than is necessary to cushion them against the risks posed by the interest rate and currency swap transactions they carry swap dealers said
it also urges net repayments of foreign currency debt and an overhaul of domestic capital markets to facilitate the subscriptions by non residents of government bond issues in belgian francs
much attention was given to the polish delegation and the talks at both institutions involved displayed a lot of understanding for polands difficult economic position pap quoted baka as saying
1986 fl yr net includes 900000 dlr net writedown of stake in hecks
pacific also said it expects ot earn three mln canadian dlrs for the year ended june 30 1988 and 10 mln canadian dlrs for the year ended june 1989
the yens rise to record highs and the us threat on friday to impose tariffs on japanese electronics goods in retaliation for japans alleged violation of a microchip trade pact are now giving nakasones critics fresh ammunition the analysts said
widespread lowland and small stream flooding is expected to continue over most of eastern nebraska through wednesday
taken in conjunction with m 2 and m 3 aggregates which kahan said have slowed to a crawl below federal reserve board annual targets the consequences could be a hint of economic weakness down the road he said
however this projection was clouded by risks including the further development of the mark against the dollar
period end may 31 shr profit four cts vs loss 22 cts net profit 139000 vs loss 799000 revs 1019 mln vs 868 mln
operating revenues 538 billion guilders vs 585 billion
a study of salmonella poisoning has uncovered new evidence that the common practice of feeding antibiotics to cattle is helping to create deadly bacteria that can infect humans and resist medicines
hutton said it reserves the right to buy more than 6332471 shares but has no present intention of doing so
in the second half of 1986 net earnings were 2297000 dlrs or 29 cts per share
the dollar opened at 14533 yen against 14560 70 in new york and 14525 at the close here yesterday
the march 12 sale will raise 275 mln dlrs of new cash by refunding about 923 billion dlrs of maturing bills
marcade group mar plans acquisition
gottschalks inc got 4th qtr net
the japanese think ec firms are now more competitive than us firms a factor which is aggravating the exchange rate imbalance and which will cause problems
principal and interest will be payed each month beginning may 25
it was all very tentative
baltimore gas and electric bge files debt
the spokesman would not say whether the board is planning to vote on the understanding between american express and nippon life
pri said all shell brand products sold under this agreement will be manufactured to shell specifications
the sources said that with frances economic targets for 1987 roughly in line with its main trading partners the government had no intention of pushing the economy to grow at an artificial pace out of step with neighbouring economies
the company which owns 58 pct of daily telegraph plc said it named former carling okeefe ltd chief executive pierre des marais as chief executive of la societe media quebec the unit acquiring unimedia
talks between france and iran on the repayment of a one billion dlr loan by the late shah have made progress roland dumas head of a parliamentary foreign affairs committee said
biffex members to ballot on merger
the internal revenue service is already studying the use of credit cards to pay income taxes but this usage would require a change in federal law while no congressional action would be needed for credit cards to be used for student loans the officials said
analysts also said borg warner may attempt to escape gaf through a restructuring
mountain view investment corp phoenix ariz said it acquired maratech communications cos inc
accurate assessments of roaster demand are hard to come by though analysts note the peak winter consumption period is passed and demand usually slows this time of year
the bp official said the 70 dlrs a share offer is 72 times standards 1986 cash flow and 56 pct above an independent evaluation of the companys assets including the value of its oil natural gas liquids and natural gas reserves
the agency confirmed bank of americas baa 1 long term rating and prime 2 short term rating as well as seafirsts ba 1 senior debt and seattle firsts short and long term ratings of baa 1 and prime 2 respectively
but if commodity prices exhibit a broad trend a policy action might be considered he said
this sparked speculation the government was preparing for a reflationary u turn but the finance ministry immediately ruled out any such move
the so called group of five industrial countries the united states japan west germany france and britain will gather for the first time since their february talks in paris where they agreed to keep the dollar from sliding further
japan us will be at odds while trade lopsided
channeling the us firms into a single merged competitor would most probably result in diluting cable and wireless share industry analysts said
wavehill international ventures inc said it has completed the previously announced acquisition of personal computer rental corp for 500000 restricted common shares giving former shareholders of personal computer a 25 pct interest in the combined company
the student loan marketing association said it priced its 300 mln dlr short term floating rate note offer at par to yield 25 basis points above the bond equivalent yield of the 91 day treasury bill
he is still evaluating first quarter gnp prospects
the bonds will be sold in denominations of 1000 dlrs with one warrant attached which will be exercisable between april 15 1987 and april 3 1992
asked what opecs output level was now he replied below 158 mln barrels per day he did not elaborate
in addition in february us officials meeting with other major industrialized nations in paris agreed that the value of the dollar had dropped enough and that world exchange rates should be stabilized at around current levels
capacity utilization for mining rose to 753 pct in february from 751 pct in january but was below the february 1986 rate of 794 pct the fed said
it also controls caesars new jersey inc cjn which owns an atlantic city nj casino hotel
but the current account surplus was down slightly from the 685 billion surplus recorded in february 1986
it will be secured on a property called brettenham house
this operation will reinforce bulls capital and reduce the states stake prior to privatisation the ministry said in a press release
shr 28 cts vs 32 cts net 2823000 vs 3216000 rev 479 mln vs 429 mln note the 1986 earnings per share adjusted for a four for three stock distribution paid may 1986
but bank of japan officials said they saw no need to change policy for the moment although one admitted that the central bank may have to rethink its strategy if tokyo stock prices continue to plunge during the rest of the week
he added that ecuadorean crude was now selling for 15 to 17 dlrs a barrel after having been sold for many months at 12 dlrs a barrel and as low as seven dlrs before that
we will react to market factors adequately and colombia has no intention of giving its coffee away colombias past records should be the basis for upcoming exports he said
southtrust corp a 51 billion dlr multibank holding company said it entered into agreements to acquire four florida banks with assets totalling more than 2332 mln dlrs
dow chemical co has launched a 200 mln swiss franc 12 year bond with a 4 3 4 pct coupon priced at 100 1 4 pct lead manager union bank of switzerland said
a merger approved by the allegheny board in which remaining common preference and preferred shares would be acquired at the tender prices is to follow the offer
in recent weeks mario vazquez rana has indicated that in light of the increased investment he wants to devote even more time to upi and to play a more direct role in managing its financial affairs benjamin said in a statement
that meant around 290 marks which is the single most important rate to concentrate on and 160 dlrs lawson said
chinas foreign exchange reserves totalled 10514 billion dlrs at end 1986 up from 1037 billion at end september but down from 119 billion at end 1985 according to central bank figures published by the new china news agency
on friday dixons announced that it had increased its holdings in cyclops corp to about 83 pct of the currently outstanding shares and that it intended to increase to 95 dlrs from 9025 dlrs the amount per share paid in the merger of a dixons subsidiary with cyclops
chemlawn previously rejected a 27 dlr a share offer from waste management inc wmx yesterday the oak brook ill based waste disposal company said it was prepared to offer 33 dlrs a share or about 330 mln dlrs for chemlawn a lawn care company
the issue has a one time call after three years first boston detailed
gould gld completes sale of french battery unit
its previous dividend payment was five cts on february 24
total trade with the soviet union involving swaps of agricultural produce and textiles for soviet arms and crude oil is estimated at 304 billion dlrs in fiscal 1986 87 against three billion in 1985 86
eac industries inc eac 4th qtr oper loss
xuto told the conference both the 1979 agreement and its successor were aimed at meeting the needs of producers and consumers of natural rubber over the long term
this total includes shares issuable upon conversion of piedmont preferred usair noted
honeywell hon completes computer business sale
the loans were cancelled because the projects slated for aid were not implemented properly they said
ecolab inc said it has started its previously announced tender offer for all shares of chemlawn corp at 3650 dlrs each
united cities gas co said it placed privately on march 18 20 mln dlrs of 869 pct first mortgage bonds
he credits good results at rca in turn aided by the nbc broadcasting operation and lower interest rates
he said the well had an initial flow of 150000 cubic meters of gas and 220 barrels of oil per day
energy us refining
in 1986 sun state reported earnings of 9427000 dlrs or 205 dlrs per share
sugar offered to dutch intervention refused
naturalite had sales of about 20 mln dlrs in 1986
medium short grain rice in mln cwts 100 lbs 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 harvested acres mln 055 055 055 055 yield lbs 6651 6651 6258 6258 start stks 267 267 257 257 production 366 366 345 345 ttl supply 653 653 617 617 note starting stocks does not include broken kernels supply minus use does not equal ending stocks in breakdowns
the current account deficit is expected to fall from 75 pct of gdp in 1985 86 to 45 pct in 1986 87 and 25 pct in 1987 88 the current account deficit is forecast to shrink to 132 billion nz dlrs in 1987 88 from 240 billion in 1986 87 and 333 billion in 1985 86
taft broadcasting yesterday however said financial advisor goldman sachs and co found the offer to be inadequate
and newsweek said 52 per cent of those questioned believed the administrations accomplishments outweighed its failures
mcfadden did say however that as a matter of procedure it is possible the exchange can lower allowable position limits or increase margin requirements for companies that are in financial trouble
imports fell to 861 billion from 1012 billion a year earlier and 894 billion in january
westwood one inc wone 1st qwtr feb 28 net
the cash fund will enable equity silver to continue to pay dividends on its preferred shares and increase the likelihood that it may be able to pay dividends on its common shares the company said
french treasury to repay 680 million francs of debt official
bbc ag brown boveri und cie bbczz 1986 year
versar said it would use its working capital and an established life of credit to find the purchase which is subject to approval by both boards and is expected to be completed in april
the itcs case is being presented by professor rosalyn higgins and is expected to take a further one or two days next week
but he said that while easing the controls would help reduce the reserves it would not do so substantially in a short time
sumitomo bank aims at quick recovery from merger
the senior official said the bank of japan is hoping federal reserve chairman paul volcker will be re appointed when his current term expires later this year
dillon read and co inc co managed the deal
figures from the banking information service showed personal sector lending by uk clearing banks rose by 166 billion stg in september after a 978 mln stg august rise
american president cos ltd said its american president lines shipping subsidiary obtained final approval from us and japanese authorities to lease four new ships from lykes bros co
south african year on year consumer price inflation in september fell to 155 pct from 163 pct in august central statistics office figures show
st
shr 25 cts vs 36 cts net 14 mln vs 14 mln revs 569 mln vs 351 mln year shr 86 cts vs 75 cts net 47 mln vs 30 mln revs 2014 mln vs 1400 mln note1985 4th qtr includes 99000 loss from carryforward
in march galaxy completed a public offering of 22 mln units for 43 mln dlrs and acquired the assets of 132 cable television systems for about 34 mln dlrs
brazil cocoa exporters unlikely to limit sales
frances balladur says target zone notion nearer
harley davidson hdi unit files note offering
first interstate also has about 168 mln dlrs in short term loans or trade lines to brazil
irish industrial production index up 62 pct
he said that on the contrary baker wanted to avoid any further rise in us interest rates because it would not only hurt the us economy but aggravate the third world debt problem
the pivot was the 18th ship hit this year in the maritime extension of the 6 1 2 year old iran iraq war
apart from its recovery against a weak us dollar the australian dollar has also risen almost three pct on a trade weighted basis in the last three weeks
shr profit 14 cts vs profit one ct net profit 502251 vs profit 22012 sales 4715846 vs 3731900 avg shrs 3489342 vs 3288720 nine mths shr profit 19 cts vs loss 20 cts net profit 637305 vs loss 658398 sales 122 mln vs 9806301 avg shrs 3439065 vs 3288720 backlog 1726150 vs 739540
fukukawa said the united states had regrettably not listened to japans explanation of its efforts to live up the pact and said washington had not given any detailed explanation of why it planned to impose the tariffs
mazda motor corp maztt 
an overwhelming majority of hughes tool co shareholders approved a merger agreement with baker international corp based on revised terms that allow the companies additional time to sell a drilling bit business as required by the us justice department
s and p added that lear applied to delist its outstanding senior notes
waste management inc wmx had originally made a hostile tender offer of 27 dlrs per share for chemlawn which chemlawn rejected as inadequate
this economic integration is probably the most audacious challenge facing latin america this century perhaps the most audacious of our history he said
terms were not undisclosed
there are some areas of disagreement he said
its pure market speculation that boone pickens and his group may be interested feretti said
developing countries exports declined significantly while their imports increased moderately although full statistics are not available yet gatt said
the us case brought by the us national soybean processors association alleged argentina through differential export taxes implicitly subsidized domestic soybean crushers
japan rejects us objections to fairchild sale
ussr wheat bonus offer said still under debate
africa ban
but there has been doubt over the plans since the stock fell below this level this week after fermentas former chairman kjell brandstrom said the company was in a much worse state than he thought
us and japanese officials meet tomorrow to try to settle a dispute over semiconductor trade and to cut short the 300 mln dlr penalty tariffs president reagan has ordered imposed on japanese exports
passenger car prices fell 34 pct and light truck prices dropped 13 pct
he said port jerome west of paris and fos sur mer on the mediterranean had benefitted from new investment over 1985 86 and had last year broken even after stock losses
ec ministers agree need for big steel closures
the two sides in the thursday and friday talks will be headed by deputy us trade representative michael smith and miti vice minister makoto kuroda
jan 31 end shr 364 dlrs vs 316 dlrs net 1713 mln vs 1540 mln sales 344 billion vs 323 billion avg shrs 471 mln vs 488 mln year oper shr 623 dlrs vs 588 dlrs oper net 3019 mln vs 2866 mln sales 1051 billion vs 998 billion avg shrs 485 mln vs 488 mln note latest year net excludes 143 mln dlr charge from loss on early debt extinguishment
the increase brings citgos posted price for west texas intermediate to 1700 dlrs a bbl
west german economics minister martin bangemann indirectly rejected a call from the countrys leading economic research institutes for early introduction of a major tax reform involving gross tax cuts of 44 billion marks
the company said it has also been advised that it has received fed approvals for its acquisition of heritage bank of camas wash and for its conversion of its subsidiary us thrift and loan of salt lake city utah into a commercial bank
amcast said newmans kendallville indiana plant is one of the countrys largest producers of gray iron castings for the automotive and commercial air conditioning and refrigeration industries
1987 3rd qtr also includes an extraordinary 114 mln dlrs or 45 cts a share for planned redemtion of companys 16 1 4 pct subordinated debentures
scientific micro systems inc said it has acquired supermac technology a rapidly growing supplier of enhancement products and disc drive subsystems for the apple personal computer market
according to entertainment its company and its chairman own about 43 pct of crazy eddies currently outstanding shares
the decision to offer fixed rate loans industry officials said reflects the increasingly competitive nature of the home mortgage business
separately commerzbank ag said in a report that the focus of west german exports this year was likely to shift to europe because of an expected downturn in growth in the dollar area
aluminium scrap recovery and usage and output of secondary metal will continue to rise said shearson lehman brothers in a review of the secondary aluminium market which details cost and demand factors
grain traders and analysts expect todays weekly us corn export inspection figure to be well above last year with wheat slightly better and soybeans about the same
he said the dollar was high because of grossly excessive interest rates for government stock
amt is appealing on all points and has said it is important for the court to accept that a winding up petition is a move to enforce an arbitration ruling
nor did there seem to be any enthusiasm at last weeks semi annual meetings of the imf and the world bank for higher us interest rates as the best way to curb the dollars rapid descent
an unspecified amount of internally generated funds would also be used for the stock purchases it added
paris also supports a move for an oils and fats tax which west germany is against along with britain denmark and the netherlands
economic growth seen sluggish in benelux countries
tcf banking and savings fa said it is raising its prime rate to 7 3 4 pct from 7 1 2 pct effective today
shad said insider trading cases involved only 10 pct or less of sec enforcement actions in recent years but they have increased significantly to 125 cases brought during the past five years compared to 77 cases in the preceeding 47 years
baker acknowledged darman would be sorely missed
the convertible offer would be on the basis of four williams convertibles for every norcros share worth 428p a share
this agreement helped send prices sharply higher rising from 15 dlrs a barrel in early december
shr loss 102 dlrs vs 101 dlr net loss 181 mln vs 114 mln revs 960 mln vs 903 mln year shr loss 265 dlrs vs loss 306 dlrs net loss 393 mln vs 346 mln revs 3860 mln vs 3730 mln note1986 4th qtr year loss includes 144 mln dlrs 46 mln dlrs respectively from discontinued
oper shr profit 34 cts vs loss 78 cts oper net profit 7434000 vs loss 170 mln revs 2012 mln vs 1717 mln note year ago oper exludes gain on sale of businesses of 1396 mln
brazilian coffee rainfall
motor wheel sells senior subordinated notes
1985 reflects tax benefit of 186000 for quarter and 573000 for year
paloma petroleum ltd year net
the toy manufacturer attributed its anticipated lower financial results to an an expected moderate decline in shipments of its pound puppies product line
the philippines as a trading country in the world economy depends on the continued health and growth of both the world economy and the world trading system she said
theyll take the hit this year but at least well be looking at an honest earnings picture barnes also said
the location of a warehouse in singapore is also a positive move by the lme given its ideal location for australian and japanese traders who would be able to place metal on to warrant speedily and relatively inexpensively they said
kayaba industry issues 50 mln swiss franc notes
the cpb forecasting an 85 pct increase in the value of the guilder on a trade weighted basis compared with 100 pct last year said the dollar was expected to trade at an average of 20 guilders in 1987 compared with 245 guilders in 1986
quadrex corp quad 4th qtr jan 31 loss
first it is viewed he said by some as welfare
hoffman said pillsburys internal statistics put soviet union wheat purchases at only two mln tonnes under a subsidy offer
a canada us delegation to promote the seaway to shippers in western europe should result in some increased traffic this season but the full benefits wont be felt for several years blair said
lomak petroleum inc and strata corp based in columbus ohio jointly said they entered into a merger agreement for strata to become a wholly owned subsidiary of lomak
however if it is determined that certificates have caused the government grain stockpile to decrease the cost effect of certificates would be less
but in real terms the taiwan dollar has been flat against the us unit and the won has lost seven pct economists say
the issue will be listed in luxembourg
the debentures are convertible into the companys common stock at 10925 dlrs per share representing a premium of 15 pct over the stock price when terms on the debt were set
continued deferral of interest payment on these obligations could result in the loans being placed on nonaccrual status the banking firm said
president ronald reagan warned iran of stronger american countermeasures if the military escalation continued
instinet inet sets meeting on merger
february broad money growth was steady at 07 pct from the previous month and unchanged from february last year
dealers said there is even talk that owners are considering taking older vessels out of lay up to meet current demand
1985 results restated
bigelow also said the company is comfortable with estimates that earnings will be between 375 dlrs and 425 dlrs per share for the year
altron said the acquisition was key to making fintech an office systems company
caesars world caw files suit against sosnoff
kay jewelers inc kji 4th qtr net
shares of entertainment marketing were up 125 cents monday to 950
the duth central bank said it accepted bids totalling 4086 billion guilders at tender for the new twelve day special advances at an unchanged 53 pct
the offer is worth about 74 billion dlrs
williams pipeline co took the charge against earnings in 1986 for the removal of more than 500 miles of old pipeline from service and for casualty losses
some dealers said not too much should be read into bakers and yeutters comments
it said the quality of oilseeds such as soybeans groundnuts and sunflower seed packed in polypropylene bags deteriorated after two weeks
the debt problem is not solved
world bank president barber conable pledged the banks support to help indonesia adjust to lower world oil prices but said further deregulation of its protected economy was needed
it was indicated at 47 to 54
lilly said it expects to use the after tax proceeds from the sale of its cosmetics business for general corporate purposes including the repurchase from time to time of its common stock or warrants on the open market
demand for steel castings and wheels for canadian railways continued to be very depressed with maintenance requirements at the lowest level in the past decade
the chapter 11 filing means that texaco will not be paying interest on its eurobonds
mexican officials and representatives of about 360 creditor banks worldwide started to sign agreements for 77 billion dlrs in new loans citibank said as co chairman of mexicos bank advisory committee
the sources said they believed baker saw it as a major action
it will be the next decade before we see if the strategy is right or wrong
usda also said the 0 92 provisions in the bill were narrower than the administrations proposal to offer the option to all major commodities and would produce insignificant savings
however it said it is unlikely the company will sustain the same record pace of sales and income throughout 1987 due to an expected reduction in throttle body sales
over 785000 tonnes of this sugar was accepted by the commission on wednesday according to commission sources
dealers estimated the ems related outflow as high as six billion marks
keating said the government would maintain responsible economic management regardless of whether it was drawn into an election because it would take time to stabilise australias 80 billion dlr foreign debt
ministry officials said the survey showed that the japanese economy is in a delicate stage in which it is hard to tell if economic growth has stopped deteriorating or if the economy is heading for a recovery
payment is due march 31
beghin say sees solution to ec sugar dispute
the companies are engaged in servicing sales and telemarketing of consumer electronic merchandise
the bonds would be redeemed over the next two years and their interest rate would be set by the central bank
the group said vbi and the elder vik bought a combined 298200 scandinavia fund common shares since march 13 at prices ranging from 9500 to 10000 dlrs a share
iraq says iranian oil network attacked baghdad marckraq said its warplanes attacked the pipeline network through which oil is pumped to irans main oil terminal at kharg island in the northern gulf
etl and its feltex international ltd associate have targetted the building products sector as an area of expansion and monier fits well with this aim he added
some problems were solved as a result of the contacts while others remained unresolved
in last years third quarter software ag earned 1598000 dlrs
longer term he added producer pressure will mount on brazil to agree to consumers export quota terms and a new international agreement could come into force next fall
the ec can only reject an offer to sell into intervention stocks on quality grounds
gevirtz also declined to predict full year results but said we expect an excellent year in 1986 foothill earned 3239000 dlrs or 41 cts per share
dow also said that the selling prices for performance grades of the resins to the same markets will increase eight cts a pound rather than five cts as announced before
bankers trust in new york said it would be premature to make a decision
and it is believed that the soviet union will need to return to the market to take a further 250000 350000 tonnes for may june shipment man added
ganilau said in a statement the fiji sugar corp would make a payment of five dlrs per tonne against the final payment for the 1986 crop on the understanding that preparations by growers for commencement of harvesting would be completed at all mills by june 23
shr loss nine cts vs profit two cts net loss 397000 vs profit 76000 revs 3763000 vs 6467000
the figures initially boosted the share price to 286p from 281p last night but they then eased back to 283p by 0830 gmt
miti officials who declined to be identified said the ministry has not yet decided on the extent of the second quarter cutback
the issues are 12 billion dlrs maturing april 25 1989 635 mln dlrs maturing april 27 1992 and 300 mln dlrs maturing april 25 1994
the money has been spread out over more than 100 loans and about 12 billion dlrs remains undisbursed
the first phase of the plant located in qinghai province will have an annual capacity of 100000 tonnes of ingots half the capacity of the finished plant
last month it said the bank of england took the opportunity of strong demand to rebuild reserves after losses last autumn
sanwa will purchase the shares from international finance corp a bpi shareholder and sister organisation of the world bank for 351 mln yen he said
he also said there was no sign of a shortage of palm oil in indonesia
debt exposure fears continued to undermine us and canadian bank paper with one uk house citing a fall of 1 5 8 point on the day on a royal bank of canada issue
world bank to loan jamaica 104 mln dlrs
south korea has increased its duty on crude oil imports to 429 dlrs a barrel from 329 dlrs effective today the energy ministry said
fox research develops makes and markets local area networks for personal computers
the budget is invariably too optimistic on expenditure said standard bank ltd in a budget preview
shr 22 cts vs 13 cts net 7121000 vs 4481000 revs 374 mln vs 228 mln avg shrs primary 30067000 vs 29735000
it said it has asked symbion to provide its shareholder list to help in disseminating the offer
continuing strong demand for fresh and processing fruit coupled with seasonal declines in supplies mean that grower prices will remain higher this spring than a year earlier
the banks are holding up to seven mln dlrs in coffee money and president yoweri museveni is thinking of imposing a penalty for such delays it added
for the year ago quarter the company earned 22 cts a share adjusted for a three for two stock split on revenues of 242 mln dlrs
wallace computer services inc said it acquired for 12 mln dlrs in cash and industrial revenue bonds certain assets of rockwell barnes inc a chicago based office products company
ag edwards inc age 1st qtr may 31 net
the report authored by retired governor gerald bouey also noted advances to canadian banks fell to under one billion dlrs at the end of the year from more than four billion dlrs in january 1986 and that the countrys economy performed unevenly while inflation remained a major concern
they said the department has until midnight tonight to set the duty but may not make the finding public until tomorrow
qintex again extends princeville pvdc offer
ammar said thailand had benefited from an ec tariff loophole that subjects thai tapioca to a preferential six pct import duty
if you give a tax writeoff for reserving against loans then we will see more reserving and that would make me happy volcker told committee chairman sen william proxmire d wisc
there is a 1 1 2 pct selling concession and a one pct combined management and underwriting fee
one convertible dealer said were waiting to see the result of todays court hearing texaco is applying today in the texas courts for relief from having to post the court bond
the spokesman said the increase in imports from the us is in line with government efforts to reduce taiwans trade surplus with washington which rose to 361 billion us dlrs in the first quarter of 1987 from 278 billion a year ago
hog and cattle slaughter guesstimates
s p downgrades bethlehem steel corps one billion dlrs of debt
shr loss six cts vs profit 19 cts net loss 166000 vs profit 580000 revs 3772000 vs 5545000 year shr loss 13 cts vs profit 52 cts net loss 391000 vs profit 1425000 revs 154 mln vs 166 mln note 1985 year figures pro forma for purchase accounting adjustments resulting from march 1985 reeacquisition of company by its original shareholders before august 1985 initial public offering
sfem is a central part of nigerias structural adjustment program which is considered to be the most ambitious economic recovery plan in black africa
ltv corp said pakistan ordered 180 military trucks and spare parts worth 185 mln dlrs from am general a unit of ltvs missles and electronics group
swire is developing a large commercial and hotel complex in the central business district of hong kong but it will not provide income until the first stage is completed next year
in its economic forecasts anz said it expected moderate overall economic growth with gross domestic product gdp rising 27 pct this year and 24 pct in 1988
bankers said the proportion of bank profits generated from the traditional financing of commerce and industry is falling and some have even been making a loss on these operations
general cinema said the financing costs associated with its purchase of 35 mln carter hawley hale stores inc chh shares for 1779 mln dlrs and its 897 mln sterling investment in cadbury schweppes plc lowered first quarter net
the tax to be imposed from july would add about 375 dlrs a tonne to vegetable oils entering the ec
twa vice president general counsel mark buckstein said the company had made appropriate filings with the dot and was in compliance with the law
merrill lynch said its representatives discussed a possible leveraged buyout with borg warner as early as last december
the banks would welcome us going to the imf
sugar prices too low to boost latin output
i believe the entire chemical industry is headed for a record year or close to it oreffice said
the issue will be listed in luxembourg
they said they expected the government to keep the local dollar stable in the near term to give breathing space to businesses experiencing slower exports because of the rise of more than 23 pct in the value of the taiwan dollar since september 1985
csr says it is proceeding with offer for monier
the notes will be listed on the new york stock exchange
export director carlos santana told a press conference the saudis were the first suppliers of oil to impose such conditions after brazils decision to halt interest payment of its commercial debts last month
mthly div 85 cts vs 92 cts in prior month payable april six record marcxh 30
the charges resulted in nine month share loss of 244 dlrs and 12 month share loss of 168 dlrs
hospital and laboratory product sales in the first quarter rose 141 pct to 456 mln dlrs it said
a group of ecologists staged a demonstration to protest argentinas plans to build a fourth nuclear power plant and a german companys role in the project as a contractor
imports were 261 billion dlrs against 253 billion in february and 196 billion in march 1986
the company named lazard freres and co as lead manager of the deal
however the officials said the usdas figure of end 1987 88 stocks at 503 mln tonnes against 1986 87s 287 mln was not surprising given a record high yield forecast in april
yellow freight system inc said its expects 1987 first quarter profits to be substantially below the 142 mln dlrs or 50 cts a share earned in the same period a year ago
my view is that the economy remains relatively strong and market participants will see that current prices are unjustified mains said
world animal health experts called for a campaign to eradicate the lethal cattle disease rinderpest in bangladesh bhutan india nepal and pakistan a statement from a food and agriculture organization fao meeting here said
it also secured a 20000 tonne cargo of optional origin rapeseed oil for may 15 jun 15 shipment at 321 dlrs cif
oil tax break ridiculed by us house taxwriter
shr 75 cts vs 67 cts qtly div 28 cts vs 25 cts prior net 468 mln vs 398 mln avg shrs 603 mln vs 577 mln nine mths shr 173 dlrs vs 195 dlrs net 1083 mln vs 1147 mln avg shrs 599 mln vs 568 mln note 1987 nine mths net includes special 15 mln dlr loan loss provision
ecolab is a maker of commercial laundry detergent based in st
a us department of agriculture analyst in washington has said the figure of nine mln hectares would equal about 25 pct of the total winter crop and would be the second highest winterkill in 10 years
canada launches 12 billion dlr bond issue
belcher to raise heavy fuels prices
the agency requires public companies and investment vehicles such as mutual funds to issue periodic reports on their financial condition and to disclose changes in their condition any time they issue new securities
dealers said funds tied up in foreign assets had flowed into local bond and stock markets as well
iroquois brands ltd said it has been sued by lyon food cos inc which is seeking 23 mln dlrs in damages in connection with the april 1986 nine mln dlrs purchase of iroquois former specialty food products segment
but dealers said the terms were not enough to attract foreign investors and the federal government would have to push yields higher in future if it wanted to borrow again soon
but it seemed clear from bakers remarks he was at one point ready to concede an increased voting power such as 625 pct or 60 pct as the majority for approving loans that would amount to a compromise between the original us and latin american positions
mondays board meeting is a regular monthly meeting
shr profit three cts vs loss three cts net profit 363000 vs loss 197000 revs 3761000 vs 2666000 year shr profit one cent vs loss 37 cts net profit 129000 vs loss 1715000 revs 114 mln vs 109 mln avg shrs 10694081 vs 4673253
npo therapies provides home infusion therapy services
federal reserve board vice chairman manuel johnson said that some us banks have been too rigid in talks with lesser developed countries on debt refinancings and warned that a breakdown of the renegotiation process could be harmful
shr 26 cts vs 21 cts net 5553000 vs 4307000 revs 451 mln vs 342 mln year shr 86 cts vs 67 cts net 182 mln vs 140 mln revs 1611 mln vs 1183 mln note share adjusted for stock dividends
it was the second consecutive monthly fall after dropping nine pct in january but it was still 2649 pct up on february 1986 following a very extended rise last year
non callable for life the issue is rated a top flight aaa by moodys and standard and poors
following todays tender the fourth state loan for payment in 1987 a nominal 1055 billion guilders has been raised by public issues bringing the total raised this year to 1855 billion guilders or some 442 pct of the states 1987 borrowing requirement
homestead financial hfl ups cash dividend
vieille montagne which is actively pursuing a restructuring program reported a 198 mln franc net loss after 187 mln francs in provisions for the closure of an electrolysis plant compared with a 250 mln franc net profit in 1985
one power project will be supported by a 485 mln dlr loan the bank said
in the uk overall profitability will improve when the central electricity generating boards ordering programme for both nuclear and fossil fired fuels starts
us urges banks to develop new 3rd wld finance
sterling drug inc said it sold the assets of its subsidiary greene dental products inc to rinn corp of elgin ill
amid the swirl of new ideas even the role of the commercial bank advisory committees has come under scrutiny
grain trade analysts expect a sharp drop in corn acreage with most expecting a more modest decline in soybeans in the us agriculture department usda plantings intentions report due out at 1500 est 2100 gmt the average trade guess for 1987 planted corn acreage was 6606 mln acres ranging from 607 to 690 mln all well below the 7667 mln planted last year due to improved incentives by the usda for farmers to retire acres
prime minister david lange is in hawaii on his way home from vancouver
his pledge to fight the ec proposals and push for the complete dismantling of the system of cross border taxes designed to smooth out currency differences known as monetary compensatory amounts mcas however are unlikely to avoid further protests by producers
us authorities intervened in the foreign exchange market to support the dollar on one occasion during the period between the start of november 1986 and the end of january the federal reserve bank of new york said in a report
us exporters report 150000 tonnes corn sold to unknown destinations for 1986 87
elsinore corp elx year loss
the debentures will be redeemed june one with 575 mln dlrs to be redeemed at 100 pct and the balance to be redeemed at 10233 pct
the credit line was agreed by a joint economic industrial commission
the policy of the world bank was to maintain liquidity at a level that gave the bank flexibility to decide when where and how much to borrow rotberg said
world bank chief stresses third world growth
ual inc may have a response this afternoon to the pilots union proposal to buy its united airlines unit a ual spokesman said
its unusual one official said but added cipec did not have any immediate recipe to remedy the situation
also if approved sheppard will change its name to breast centers
trans world airlines inc complicated the bidding for piedmont aviation inc by offering either to buy piedmont suitor usair group or alternatively to merge with piedmont and usair
dome spokesman david annesley said in new york that transcanadas announcement could be seen as an attempt to fix the bidding price for dome and an effort to preclude other possible buyers from making an offer
the bank of new york corp bk said it reaffirmed the terms of its offer for irving bank corp despite the drop in the bank of new yorks share price to 30 1 8 a bank of new york spokesman said
a multiple of ten times earnings would be the top whack for the brewing division in the current guinness situation he said
morgan jpm says brazil nonaccruals may rise
nakasone already under fire over an unpopular tax reform plan may now be forced to resign before the june economic summit of seven industrialised nations if local elections later next month go against candidates from his ruling liberal democratic party ldp they said
the ministry which considers two monthly comparisons to be a better guide to trends said output in january and february together fell around two pct against november and december
specifically the agency said those making tender offers for companies stock must extend the offers if they decide to eliminate conditions requiring a minimum number of shares to be tendered in order for the offers to be valid
taiwans imports of us farm produce last year amounted to 141 billion dlrs against 152 billion in 1985
among sumitomos problems are limits placed on its move to enter us securities business by taking a share in american investment bank goldman sachs and co
shr profit 29 cts vs loss six cts net profit 645000 vs loss 118000 sales 7802000 vs 4330000 1st half shr profit 58 cts vs profit 10 cts net profit 1255000 vs profit 212000 sales 145 mln vs 8912000 avg shrs 2183150 vs 2072779
a copy of the letter was made available to 
the ecs so called third country meat directive will require foreign meat processing plants to comply fully with ec inspection standards beginning april 30
four of japans six major heavy machinery and shipbuilding companies reported current deficits in the first half of the year to march 31 and five of them are expected to report current deficits for the whole of 1986 7 they said
national semiconductor corp said improved results at its semiconductor group helped reduce losses in the third quarter and nine months
the banks gave no reason for ending the talks which began on january 14
he said these are needed especially when prices fall citing declines in west german share prices in the first two months of this year when stock indices fell about 20 pct
reef energy rfen enters pipeline agreement
last year france provided its former indian ocean colony with a structural adjustment loan of 160 mln francs
last year us farmers obtained record corn yields averaging 1193 bushels per acre
great american management and investment inc said its 80 pct owned subsidiary agreed to buy certain assets of two subsidiaries of standard oil co for 40 mln dlrs and the assumption of certain liabilities
shr profit two cts vs loss 16 cts net profit 558000 vs loss 580000 sales 662 mln vs 295 mln avg shrs 4476000 vs 3615000 year shr loss 61 cts vs loss 79 cts net loss 1760000 vs loss 2180000 sales 1584 mln vs 763 mln avg shrs 4475000 vs 2751000
borg warner has been the focus of takeover speculation for about a year
ccr said the negotiations would determine the terms under which the ccr board could support an intercep tender offer
tanzania has arranged to sell 53000 tonnes of maize to malawi mozambique and zaire radio tanzania said
the french treasury has decided to repay 680 mln francs of debt issued before 1950 the finance ministry said
thatcher said this policy had not contributed to the fall in oil prices as north sea production was now about the same as in 1984 when prices were close to 30 dlrs a barrel
they estimate the levy at around 100 ringgit a tonne at current prices and said they are not prepared to accept it because a big portion of malaysias cocoa exports officially estimated at 112000 tonnes in 1986 goes to non members
automobiles citroen expects rising sales of its new ax compact car to help boost profits significantly this year continuing a financial recovery after six straight years of losses president jacques calvet said
cpc international inc said it expects 1987 earnings per share to increase over 1986 levels
however gilts may benefit from further declines in uk interest rates they said
malaysia was also happy that in the new inra financing of purchases for the normal buffer stock of 400000 tonnes and a contingency buffer stock of 150000 tonnes would be done through direct cash contributions from members he said
after the split the new quarterly dividend rate is equivalent to 29 cts a share
there has been speculation in trade circles that usda would offer india subsidized vegetable oil under the export enhancement program and donate surplus corn under section 419 of an amended 1949 law
german yields have also risen over this period but less markedly and since late september the bundesbank has nudged up short term rates by changing the terms on its security repurchase pacts its principal instrument for steering the money market
the cause of the fire was not known
minguzzi added that under ec regulations the community has until early may to pay for the sugar
american express cos axp recent launch of a new optima credit card with relatively low interest rates and fees will increase competition with bank credit card issuers but will not lead to a pricing war a senior citicorp offical said
the dinar is strong and stable and we intend to preserve its stability he said
woolworths is unrelated to the us group fw woolworth zn it has been the subject of takeover speculation since industrial equity ltd acquired a 20 pct stake last year
s p affirms chrysler and units affects 19 billion dlrs of debt
qtly dividend 12 1 2 cts vs 12 1 2 cts pay march 31 record march 16
dr
the stock is trading at about 1 3 its appraised value
the tokai bank ltd london branch is doubling the size of a sterling certificate of deposit issuance facility established last year to 200 mln stg from the original 100 mln chemical bank international ltd said as arranger
it said the company expected to realize a reduced fuel economy but is working on improving fuel consumption
the company also has tax credits of about 25 billion dlrs canadian 19 billion dlrs us it reported a 1986 loss of 22 billion dlrs 165 billion dlrs us believed to be the largest ever by a canadian company
us retailers posted stronger than expected sales in february but not enough to prompt analysts to change their expectations of sluggish sales growth for the first half of 1987
it said approval is also needed for an increase in authorized shares of preferred stock from one million to five million
the ministers were meeting to discuss a plan for voluntary plant closures drawn up by the industry lobby group eurofer which it calculates would cost around 22000 jobs
nigeria france to reschedule official debt
planned projects were further slowed down in 1986 because of the countrys budgetary problems he added
he said commercial union will work closely with dealers for the note program to find the right pricing level to satisfy investor demands
and renault could have gotten a much better price if wed done it before the end of last year in addition to amcs debt and its pension liabilities the source said chrysler would also assume any liability from lawsuits over the safety of jeeps which he called an overhang to the company analysts quoted chrysler officials as having told them that the deal includes payment to renault of 200 mln dlrs principal in the form of a 10 year note at eight pct interest 35 mln dlrs cash for renaults equity in amcs finance subsidiary 25 mln dlrs in cash for transaction fees in connection with the acquisition and 522 mln dlrs worth of chrysler stock to be paid amc shareholders
shr loss 15 cts vs loss 11 cts net loss 632000 vs loss 437000 revs 3206000 vs 2650000 year shr loss 19 cts vs loss 24 cts net loss 793000 vs loss 1004000 revs 115 mln vs 144 mln note prior year figures restated to reflect merger in march 1986 with amtron corp
they also call for stepped up spending as an emergency measure to stimulate the economy despite prime minister yasuhiro nakasones avowed fiscal reform program
the recent fall in world sugar prices due to increased producer pricing sales and evidence of export availability has encouraged renewed buying interest from china and the soviet union london trade house edand f
nearly 80 pct of canadas exports are shipped to the us each year
report says soviet economic plans too optimistic
wholly owned and joint venture companies also did well apart from timber building supplies and real estate which returned below budget profits due to the housing downturn
there should be a split prime for a while with some posting a 7 1 2 pct rate and others 7 3 4 pct said david jones of aubrey g
the letter did not mention gencorps rko general broadcasting subsidiary which has been involved in disputes over license renewals at several of its television stations
but he has not put together a consortium nor has he been buying shares he was quoted by the irish magazine business and finance as saying he would be interested if it came on the market and that he had the support of two international banks if he decided such a purchase might be worthwhile
he said an alternative now being looked at was for new procedures for delaying iadb loan approval to satisfy us concern that lending is currently too lax rather than a change in the basic voting structure
loctite corp loc 3rd qtr march 31 net
that is 160 basis points over the yield of the off the run 9 1 4 pct treasury bonds of 2016
the spokesman said the fields partners have agreed to develop draugen with a 300 meter single leg concrete gravity base platform
it gave no further details
according to the 230 mln stg contract lombard north central an affiliate of national westminster bank plc nwbll will build and lease plants for engine assembly body panel pressing and resin moulding by 1988
shr loss 57 cts vs loss 30 cts net loss 59 mln vs loss 32 mln revs 56 mln vs 163 mln year shr loss 211 dlrs vs loss 95 cts net loss 220 mln vs loss 99 mln revs 293 mln vs 663 mln
trade body sets new rules for eurodollar managers
he said the government did not intend to change its resource rent taxation rrt legislation now before parliament in response to industry calls to allow all exploration expenditure in a given area to be deductible
oper shr loss two cts vs profit seven cts oper shr profit 442000 vs profit 2986000 revs 2918 mln vs 1511 mln avg shrs 517 mln vs 434 mln six mths oper shr profit nil vs profit 12 cts oper net profit 3376000 vs profit 5086000 revs 5693 mln vs 2985 mln avg shrs 516 mln vs 411 mln note per shr calculated after payment of preferred dividends
macalpine said there are lots of options for reshaping the company with a distribution of various pieces to the major shareholders among the possibilities
a
the scale of foreign exchange intervention the bank of england has carried out recently is clear proof of britains determination to stabilise exchange rates as agreed between the group of seven industrialised countries in paris in february chancellor of the exchequer nigel lawson said
no price was disclosed for the acquisition
lending by the world bank and its soft loan arm the international development agency ida to china is expected to almost double to about two billion dlrs by 1989 90 from the levels of 1984 to 1986 foreign bankers told 
ny business loans fall 718 mln dlrs in march 4 week fed says
taiwans central bank is considering proposals to ease currency restrictions to reduce foreign exchange reserves of 51 billion us dlrs a local newspaper reported today
japanese agencies were shocked by the earlier aaa ratings on the claims paying ability of sumitomo life insurance co and dai ichi mutual life insurance co by standard and poors the first ratings given to japanese life insurers
the spokesman said this would enable distribution of flour semolina sugar and olive oil at a relatively high rate next month
the company said it will expand its sanwet super absorbent polymers unit and its acrylic acid facility
cyacq offers to raise cyclops buyout to 9250 dlrs shr from 80 dlrs
no maximum or minimum price has been set
kaske told the annual shareholders meeting turnover rose to 212 billion marks in the first five months of 1986 87 about 19 pct above the same year ago period
anz bank in nz raises indicator lending rate
mikulic introduced a law cutting wages to the level of the last quarter of 1986 and tying future rises to productivity
if the saudis wish to stop our trade relationship i am sure that if they do we will be getting dozens of offers from elsewhere santana added
non performing loans at quarter end are estimated at 145 billion dlrs or 65 pct of the loan portfolio compared with 928 mln dlrs or 394 pct at the end of 1986
it said the new btx process units include aromatic extraction xylene fractionation xylene isomerization and thermal hydrodealkylation
we have not been approached by mr
the wheat four is for shipment march may and the bonus awarded was 11905 dlrs per tonnes and will be paid in the form of commodities from the ccc inventory
honduras will tender april 13 under public law 480 for us and non us flag vessels to deliver approximately 52500 tonnes of various wheats in bulk an agent for the country said
this brings the banks total help today to 759 mln stg and compares with its estimate of a 105 billion stg money market shortage which it earlier revised up from 950 mln stg
landesbank rheinland pfalz international sa is issuing a 300 mln luxembourg franc private placement bond with a 7 1 4 pct coupon at par lead manager caisse depargne de letat du grand duche de luxembourg said
dow dow to issue 56 mln dlrs in bonds
citruspulp usage dropped 628 pct to 149000 tonnes from 400000 tonnes while rapeseed and meal usage rose 96 pct to 217000 tonnes from 198000 and sunmeal rose 256 pct to 216000 tonnes from 172000 tonnes
us says canada complying with lumber pact
acceleration corp said it sold a 249 pct stake in the common stock of united coasts corp to the sheet metal workers national pension fund the company said it agreed to sell the fund an additional 51 pct of hartford conn based united when the fund receives approval from the director of insurance of the state of arizona
the pay date is april 30 with a short first coupon
a five year forecast is expected to be issued in early summer a spokesperson said
moto photo inc moto 4th qtr net
a dresdner bank ag drsdf spokesman said the bank had no comment on newspaper reports that shareholders would be offered free subscription shares
rise seen in french rapeseed soybean sowings
the share was around 253 marks today after a 650 drop to 252 yesterday
miyazawa says paris accord helping stabilise rates
the reductions will be added on to a package of tax cuts already planned for 1988 amounting to some nine billion marks
paperboard plans bid to acquire belkin
general electric ge unit redeems notes
balladur maintains 1987 25 pct inflation target after february 34 pct year on year
bp also believed the acquisition represented the optimum use of its financial resources
for 1986 the companys earnings rose five pct to 316 mln dlrs on revenues that increased eight pct to 47 billion dlrs
the decision was announced late friday
shultz says us products must be competitive
a fed spokesman said that all of the borrowings were made yesterday by fewer than half the banks
olson chairman
intl totalizator itsi sees better 1st qtr
david anthony a smith barney analyst said it is possible shearson would be partially sold to the public
the document was prepared by a private committee formed by prime minister yasuhiro nakasone and led by former bank of japan head haruo maekawa
british airways issues 100 mln stg eurobond
and bank economists contacted by said they believed prime minister jacques chirac could be forced by slow growth and rising unemployment to reflate the economy later this year perhaps in the autumn to boost his prospects in presidential elections due by april 1988
under the shelf registration time currently plans to issue about 250 mln dlrs of 30 year debentures to be used in connection with the tender offer and its previously announced plans to redeem its eurodollar debt issue
treasurys baker says trade current account imbalances simply not sustainable
the week was the second half of a two week statement period
the bundesbank accepted bids for 65 billion marks at todays tender for a 28 day securities repurchase pact at a rate of 380 pct a central bank spokesman said
tracomin sees lower us edible groundnut exports
the state news agency tanjug said on october 9 that yugoslavia plans to adjust debt repayments over the next eight years and to cut the debt service ratio to 25 pct
as banks checking account liabilities rise so do the reserves that they are required to hold on deposit at the fed
advanced said sterlings board has decided not to enter the nicotine product market
sterling drug inc sty increases payout
twa sold four mln shares of usair believed to institutions wall street sources
the sale completes hexcels plan to sell all its medical products businesses hexcel said
time inc said the acquisition of scott foresman and co last year will dilute earnings per share by about 17 cts a share for the full year in 1987
late last month banner said it completed a tender offer for and held 96 pct of rexnords common shares
but he added that would be a statistical aberration and not a significant shift in economic activity
government securities outstanding rose 109 billion dlrs to 22642 billion dlrs in week ended april 1 treasury bills rose 135 billion dlrs to 7695 billion dlrs and canada savings bonds fell 47 mln dlrs to 4387 billion dlrs
a total of 1886 mln hectares was sown to wheat in britain excluding northern ireland up to december 1 1986 for the 1987 crop a ministry of agriculture census shows
mexican first qtr crude exports seen at 1525 dlrs
louisiana pacific lpx to sell sawmill
brazil would like to come up with such a plan he said adding the moritorium is likely to be a temporary affair during his formal remarks conable made it clear that he believed brazil must take some specific internal action
it said the shell canada 7500 barrel per day oil sands project will be built on shells oil sand lease about 40 miles north of fort mcmurray in the athabasca region of northern alberta
the official in charge of agricultural matters in the new round of global trade talks is in washington today and tomorrow to meet with congressional and reagan administration officials
under current rules the good grade of meat has less marbling and fat than the prime or choice grades it said
mexicos 77 billion dlr loan package will be signed in new york tomorrow amid increasing calls from both creditors and debtors for a streamlining of the tortuous process of raising such jumbo loans bankers said
i believe we have bottomed out and can look forward to a trend of gradually increasing prices cw nance president of tenneco oil exploration and production told a meeting of the petroleum equipment suppliers association
a committee of independent directors previously obtained an opinion from first boston corp that the standard shares were worth 85 dlrs each 15 dlrs more than the bp offer
philippine sugar crop set at 16 mln tonnes
the parent company had total assets of 210 billion dlrs as of september 30 1986
catell and kenneth f
it the bottom is in the offing he said
results for tel aviv israel based company translated at rate of one dlr to 1485 new israeli shekels
the company also said it approved a certificate of designation with respect to its 45 mln shares of authorized but previously undesignated and unissued shares of preferred stock and adopted an employee stock ownership plan
emanuel said ecuador was seeking soft loans from multilateral organisations for reconstruction work
a foster spokesman said he did not know the names of the president and controller and could not immediately comment on the release
the offering will be managed by sutro and co inc zehntel said
house 0 92 farm proposal seen sparking debate
harper international inc hnt 3rd qtr net
the company said extreme heat from the fire caused severe rock degradation along several ramps and drifts in the mine
revlon rev and macandrews and forbes to merge
washington bancorporation 1st qtr net
air canada widely expected to be privatized later this year in a public share offering lost 148 mln canadian dlrs on revenues of 272 billion dlrs in 1985
1987 nine mths includes loss 1519000 dlrs or 11 cts per share from early extinguishment of debt
the state of the crop continued to be good in general until last week but intense heavy rains since could have caused damage in areas where rainfall was higher than 100 mm
aircraft attack iranian oil rigs in southern gulf
he did not say where the money would come from but diplomats expect the government to ask the world bank and other foreign donors to provide most of the foreign exchange portion
a farm secondary market would allow lenders to sell high quality loans on farmland to poolers who in turn would package the loans and issue farm mortgage backed securities for resale to investors called aggie mae by some supporters
possis corp said its board approved a 100 pct stock dividend payable may one record march 27
the kingdom of belgium is launching 100 mln swiss francs of seven year notes with warrants attached to buy gold lead manager credit suisse said
spokesman marlin fitzwater told reporters the february sales growth was broad based and good news for the economy commerce department figures showed a larger than expected rise following depressed levels of sales and factory orders in january
the sources had said possible candidates for the governors job include prince abdul aziz ibn salman ibn abdul aziz who earlier ran a research center at saudi arabias university of petroleum and minerals and former deputy planning minister faisal beshir
international business machines corp said shipments and revenues were higher in the first quarter but net earnings fell 228 pct in part due to higher expenses
venezuela says opec oil output 0ver 18 mln bpd caracas oct 19 the current opec oil production is above 18 mln barrels per day bpd and this level threatens the precarious equilibrium of the of oil market venezuelan energy and mines minister arturo hernandez grisanti said on monday
the bank will have to watch closely various developments resulting from its already eased monetary stance such as the sharp rise in real estate and stock prices he said
investors will pay for the bond on april 15 and the bond pays annual interest on the same day
shr loss nine cts vs loss 192 dlrs net loss 950000 vs loss 21334000 revs 580000 vs 222 mln nine mths shr loss six cts vs loss 123 dlrs net loss 694000 vs loss 13710000 revs 5129000 vs 1119 mln note current qtr includes tax loss of 118000 vs loss of 476000 dlrs
inflation which was running at 21 pct at the end of 1986 is likely to rise to 29 pct at the end of this year ipecode said while the government has forecast 25 pct
the bank of england said it provided the money market with assistance worth 90 mln stg in response to an early round of bill offers from discount houses
last year it was one billion dlrs against a targeted 16 billion official figures show
ten pct of the shares have been reserved for employees who get a five pct discount increased to 20 pct if they keep the shares for two years
mpt has helped block finance ministry plans to deregulate interest rates on small deposits a key element in financial liberalisation since the change would remove the postal savings systems ability to offer slightly higher rates than banks they said
1985 4th qtr and year net includes loss in metcap unit of 108598 dlrs and 298412 dlrs or 16 cts per share respectively
he noted that the ec imports one quarter of us soybean production and loss of that market would be devastating
virginia
the property includes six gas wells one oil well two undeveloped drilling locations a central production facility and a gas gathering system
parent company net profit 191 mln vs 1509 mln
polaroids announcement that a particularly senior company executive had been chosen to work on a major unidentified new product spurred some speculation about their products he said
because the bundesbank scales down bids which it allocates at the minimum accepted rate some banks may try to get a full allocation by bidding heavily at 36 pct dealers said
the foothill group inc said its foothill captial corp unit completed the placement of 23 mln dlrs in senior debt and 27 mln dlrs in senior subordinated debt
an amsterdam bourse listing will be requested for the bonds
the companys outstanding securities are rated aa minus by standard and poors corp
six major thai major banks reduced minimum loan and overdraft rates by 050 to 075 percentage point on february 16 but the move has not substantially increased loan demand the sources said
it left its estimates of wheat and coarse grain stocks at end27of different marketing years unchanged at 178 and 210 mln tonnes respectively against 160 and 167 mln a year earlier
equity is distributed according to each members trading volume and as a result changes from year to year
liner shipping specialist evergreen marine corp taiwans largest private company has applied to the security and exchange commission to go public next month a company spokeswoman told 
several hundred vessels have been confirmed hit in the gulf by iran and iraq since early 1984
northern trust ntrso files shelf
he said aseans looming trade problems would not necessarily stem from protectionist legislation now being contemplated by congress but simply because of the adjustments the us economy will have to make in order to service our large and growing external debt shultz said the us deficit had resulted not from falling exports but from higher imports that had fuelled world growth
the deadline has been moved up because the department of transportation and ps group shareholders have already approved the transaction the company said
scimed said the suit is without merit and it has turned the matter over to its attorneys
us census bureau figures released here showed factory and warehouse stocks on feb 28 included the following with comparisons in mln lbs 02 28 87 01 31 87 02 28 86 soybean oils crude 16633 x 15426 8937 refined 3005 x 2947 r 2874 total 19638 x 18373 r 11811 cotton oils crude 657 558 r 645 refined 1223 1096 r 1196 total 1880 1654 r 1841 x revised from preliminary data released in the bureaus oilseeds report of march 23
they were priced to yield 686 pct drexel said
sank off the west african coast early today and one of its eight crew members was killed a spanish navy spokesman said
singapores external trade grew 88 pct in first quarter 1987 against a 124 pct decline in the same period last year and two pct growth in the previous quarter the trade development board said
the company said it will hold a special meeting on july 10 for a vote on approval of a merger at the tender price
conditions worldwide in the television industry continued to look buoyant the chairman noted
if they do come into the market at this level it will go lower and you could breach a dollar ninety or eighty cents he said
it has also opposed a major management role in the planned merger for any non japanese overseas telecommunications firm on the grounds that no such international precedent exists
germany and italy were cited as the extremes of polarized government attitudes with most other countries on the fence
yields on certificates of deposit cds issued today by the united arab emirates central bank were unchanged from those on last mondays offer the bank said
he said ec policies are the major cause of the depressed world sugar market
hanson said that promptly following the filing of the certificate of merger kaiser cement common shares will be delisted from the new york stock exchange
prices under the weight of three successive cocoa surpluses recently fell to the level at which the manager has to buy cocoa under stock rules
in two of the biggest transactions of recent months french owned minatome corp a unit of total compagnie francaise des petroles spent more than 230 mln dlrs to separately acquire oil assets of texas international teicc and lear petroleum partners lpp a spokesman for minatome said the company is searching for additional acquisitions
that estimate according to a cbo official was based on an assumption that certificates cost the government about 15 pct more than cash payments
rapeseed consumption in 1986 87 was 563889 tonnes against 528152 a year earlier
soyabeans were the main component with imports rising to 282 mln tonnes actual weight from 275 mln
the system will first be used for glass and then expanded to other products
ealier treasury secretary james baker told the committee that the trade deficit had levelled off but baldrige said he was more optimistic adding i think we turned the corner in february
belgian starch manufacturer amylum nv is surprised and disappointed that its 675 mln dlr offer for the european business of cpc international inc cpcn was apparently rejected in favour of a lower 630 mln dlr bid by italys gruppo ferruzzi chairman pierre callebaut said
they also said salomon believes that other banks may strongly consider the possibility of placing brazilian loans on a non accruing status with the consequent negative impact on earnings
the adjusted producers shipment index base 1980 for january was revised upward to 1177 from a preliminary 1174 the index was down 07 pct from december when it rose three pct from a month earlier
shr 72 cts vs 36 cts net 122 mln vs 62 mln revs 173 billion vs 149 billion avg shrs 1577 mln vs 1498 mln nine mths shr 171 dlrs vs 128 dlrs net 297 mln vs 216 mln revs 498 billion vs 455 billion note net for current qtr included non operating costs of 12 mln vs income of 10 mln in qtr 1986
major increases for west germany belgium spain italy and australia were partially offset by declines to unknown destinations
for the year earnings rose to 769 mln dlrs or 326 dlrs from 731 mln or 318 dlrs
on tuesday it added reserves directly through two day system repurchases
sumita said he could not find any specific reasons behind the fall of the dollar to a record low against the yen yesterday
it said world consumption was continuing to rise
he said the daily telegraphs first quarter operating loss was sharply reduced from last year
harkin said that under his policy approach farm participation would be no more mandatory than the current farm program
institutional investors appeared to have sold dollars to hedge currency risks ahead of the end of the financial year today miyazawa said
oper shr loss 471 dlrs vs loss 1409 dlrs oper loss 22 mln vs loss 672 mln note 1986 loss excludes gain on the sale of gold lance corp of 121 mln dlrs
wall street stocks ames dept stores add 
on february six vulcan initially offered to acquire jones and vining for five dlrs a share but jones and vining dismissed the offer as frivolous and without substance and said the bid failed to comply with provisions of the securities act of 1934
swift energy co sfy 4th qtr net
he said heinz japan is making a profit and generating its first substantial dividends and implementation of a new partnership seoul heinz ltd is moving ahead with a new manufacturing plant targeted for completion by june in seoul south korea
egypt has been authorized to purchase about 125000 tonnes of us wheat flour under an existing pl 480 agreement the us agriculture department said
it said the name change should take effect next week along with a nasdaq ticker symbol change to alfao
ny traders say ec sold 71000 tonnes of white sugar at tender
in an interview with a small group of reporters baker said discussions on far reaching reforms of the bank would resume around the fringes of the semiannual meeting of the international monetary fund in two weeks time
robert durham said continued strong demand and low inventories pushed prices up eight to nine pct on the new york commodities exchange last month
dresser is expected to improve profitability owing to cost reductions and streamlined operations including the sale and leaseback of its headquarters said swarup
westpac banking corp wstps was one of the first to take advantage of the changes by announcing today it would double its stake in the sydney firm ord minnett ltd to 100 pct
these arrangements confirm south africas continued willingness to maintain good relations with its foreign creditors and to meet its foreign commitments in a orderly way du plessis told a news conference
it said the transcanada bid seems to require favourable and substantial taxation concessions from the federal and provincial governments but dome added that its management and financial advisers will evaluate all proposals
the banks assured the churchmen that their lending had declined substantially last year and that they had no intention of building it up as banks from other countries withdrew
depreciation of fixed assets 935 mln marks vs 847 mln
traders said the price hike followed higher spot and futures market prices for heating oil
he told reporters that volumes in north america increased some 105 pct while european consumer goods rose about 25 pct after being flat for some years
androsch said industrial holdings had performed better in 1986 than in previous years giving a return on investment of 26 pct compared with 13 pct in 1985
so far we havent seen any decline in marketings
but the kingdoms still sluggish economy and legal problems hampering traditional lending operations mean earnings will remain vulnerable
ldbrinkman corp chairman ld brinkman and members of his family said they cut their stake in cenergy corp to 3647 shares or 04 pct of the total outstanding from 912147 shares or 94 pct
continental will reduce expenses through job cuts and reducing office rental costs
dixon groups offer extends to march 17
the operation will put outstanding bill supply at about 4300 billion yen they said
currency dealers here and in the far east said the dollar gained slight background support from the speculation
the bank of england said it revised its estimate of todays money market shortfall to around 350 mln stg from a flat position
citizens fidelity cfdy paper upgraded by s p
we needed some help from the cold storage report to avert a possible setback next week in the pork complex levitt said
one even showed interest in buying 45 mln dlrs worth of notes he said
rose estimated the aerospace business could bring 30 to 40 dlrs per share or one billion dlrs as would diversitech the plastics unit
foreign ministry sources said the new strategy was being prepared by economists persio arida and andre lara resende both former central bank officials said to have played leading roles in the cruzado plan
group turnover fell slightly to 38 billion marks from 4272 billion in 1985 and parent company turnover fell to around 14 billion marks from 1535 billion the company said in a statement
genfinance luxembourg is issuing a 50 mln stg eurobond due may 7 1994 paying 9 1 4 pct and priced at 101 1 4 pct lead manager kleinwort benson ltd said
great western financial corp said it has called for redeemption a 150 mln dlr issue of 85 pct convertible subordinate debentures due 2010 on may 15
investment firm boosts purolator pcc stake
the change reflects the companys improvement in retiring debt incurred in the the acquisition of general foods corp and the ability of both the tobacco and food product lines to generate cash flow duff and phelps said
viner earlier reported a fourth quarter loss of 918000 us dlrs after a 15 mln dlr writedown of its stake in hecks
champion parts rebuilders inc said it asked the federal district court in chicago for a declaratory judgment upholding its recent 54 mln dlr sale of common shares and warrants to echlin inc ech champion said in hearings thursday morning before the federal judge on its lawsuit charging federal securities law violations against cormier corp odilon cormier morris navon and other defendants the cormier navon defendants indicated they would challenge the transaction
india bought at least eight cargoes sugar trade
ec euratom french franc eurobonds expected
of the total 400 billion yen will yield 38502 pct on sales from money houses to banks and securities houses in a 41 day repurchase accord maturing on may 19
the company is a defendant in a consolidated class action law suit which seeks damages in an unspecified amount and is also a defendant in a related shareholder action
fiscal 1987 nonrecurring income items totaled 4322342 vs 1393187 in 1986
the company said its merger last year with associated dry goods which was accounted for as a pooling of interests is going very well may said we are acting more like one company every day
fecsa faces repayments of 60 billion pesetas in interest and 30 billion pesetas in principal this year
but if the ship could not be salvaged the claims would total at least 30 mln stg
he added that total sales volume increased as a result of higher offtake by affiliated companies while inland market sales were maintained at around the previous years levels
may 31 end shr 27 cts vs 14 cts net 5664000 vs 2812000 revs 682 mln vs 547 mln avg shrs 21254054 vs 20167714 note first quarter report
patient technology inc said it retained an investment banking firm to consider alternatives in restructuring its long term debt including a possible exchange offer for 20 mln dlrs of outstanding convertible debentures
however the status of twas bid for usair group is currently uncertain
bank of japan governor satoshi sumita threatened central bank intervention if necessary
lightning strikes hit the grain sector of the port of rotterdam today after employers turned down union demands for shorter working hours in a new labour agreement transport union fnv spokesman bert duim said
weve decided to drill at least three more wells in there before starting production on a commercial scale production of bombay high part of the bombay offshore field has stabilised at around 500000 barrels per day for the last two years
sec warns securities dealers on high mark ups
crime control assets to be sold to hawley
in a memorandum backing its application presented to gatt last month china said it was gradually reforming its economic system and replacing mandatory instruction with guidance planning and economic levers
the 54 member contact group was examining a colombian proposal to resume quotas april 1 under the ad hoc system used historically with a pledge to meet again in september to discuss how quotas would be worked out in the future they said
jopling also criticized a recent proposal still under consideration by the ec for a tax on vegetable and fish oils
he estimates block has about 150 mln dlrs cash on its balance sheet sheet and says if interest rates rise it could be of great benefit to them
liffe february volumes down but eurodollars up
the us agriculture department gave the 1986 87 breakdown of supply and distribution for wheats by classes in mln bushels with comparisons as follows
french producers failed more than most to take advantage of last years oil price falls and growth hopes now rest on the shaky prospects of expansion in other industrial countries like west germany and japan they say
ranks hovis said the cash required for the cash alternative would be met by one of several methods
mr
the trade subcommittee voted to require president reagan to take into account the potential harm to us agricultural exports of any trade retaliation he might impose for foreign unfair trade practices against other domestic industries
apart from that the government will keep improving the investment climate in order to accelerate the development of the petroleum industry he said
heritage communications hci in special meeting
he declined to elaborate
seismic enterprises inc seis 4th qtr loss
passengers carried by cathay pacific totalled 42 mln last year up from 385 in 1985 with the passengers kilometre travelled rising to 1402 billion from 1256 billion
after rorer announced its second bid for the company last thursday analysts forecast that the robins family which holds control of the company would vigourously oppose any merger
it said alfred and david billes two of canadian tires controlling shareholders backed the appeal and would seek leave to appeal while third controlling shareholder martha billes supported the appeal but would not join an appeal motion
first interstate said net proceeds would be used principally to fund investments in or extensions of credit to the companys subsidiaries or to repay loans incurred for such purposes
1987 six months includes charge of 115000 dlrs due to reversal of investment tax credits
foote which is 83 pct owned by newmont mining corp nem has signed a letter of intent to sell its cambridge operations and said it is in talks on the sale of its manganese operations with several companies
we havent had a strike on the seaway for years a prolonged strike would have a disasterous effect seaway authority spokeswoman gay hemsley said
oper shr profit 18 cts vs loss 38 cts oper net profit 577000 vs loss 1147000 revs 163 mln vs 198 mln avg shrs 3227625 vs 3057206 note 1986 net excludes 485000 dlr tax credit
it was estimated that if oil fell to five dlrs a barrel it could trigger defaults that could cost the government an estimated 15 billion dlrs
finance minister radius prawiro said recently that the increase in ec duties would add a new burden to asean countries at a time when they were trying to strengthen their economies in the face of lower commodity prices
liffe is preparing for an early listing of yen bond futures after receiving approval from japans finance ministry last december
powerine refinery to resume operations
profitability has fared poorly for three years mostly because of intense competition s and p added
underwriters noted that ubs acting as sole underwriter won a competitive bidding for 250 mln dlrs of 30 year debentures of gte corp gte just this morning
the issue currently underway is expected to be completed within the next few weeks
uk money market given 451 mln stg afternoon help london march 16 the bank of england said it provided the money market with a further 451 mln stg assistance
the bank of england said it had provided the money market with 1143 billion mln stg assistance in response to an early round of bill offers from the discount houses
the new five pct tax would be imposed on companies trading more than 100 mln yen a year and apply to paper gold trades gold deposits with banks and trading of gold bars as well as that of jewellery and coins dealers said
dart has said it would offer 4175 dlrs cash for each sgl share if the sgl board recommended the offer to shareholders
malaysian miners criticised the us for violating an agreement with southeast asian producers by selling more stockpiled tin in 1986 than agreed
moodys says lower ratings show 1987 downtrend
president reagan sent the five year international natural rubber agreement to the senate for approval
taft stock closed at 156 1 2 up 1 3 4
the following proposed securities offerings were filed recently with the securities and exchange commission ramada inc ram offering of 100 mln dlrs of subordinated notes due 1999 through salomon brothers inc
as recession hit the middle east and the need for trade finance in the region declined many offshore banks in bahrain ran down their currency operations
trade and industry department officials also declined immediate comment
the issue guaranteed by cofide compagnia finanziaria de benedetti spa of turin italy is convertible into shares of cir spa compagnie industriali riunite at an indicated premium of five pct
rolls was rescued from bankruptcy and taken into state ownership in 1971
malaysia is launching a 100 mln swiss franc 5 3 4 pct 10 year notes issue priced at 1002 pct lead manager swiss bank corp said
one must be held before june 1988
at the official rate the 5445 billion sucres sum equals 573 mln dlrs
gunnar said it and mill city can earn a 50 pct interest in tyranexs option to buy the tyranite gold mine by spending up to five mln dlrs on exploration development and feasibility studies by 1990
rotterdam signs cooperation agreement with tokyo
ft se 100 index futures volume was sharply higher during february with 22109 contracts trading against januarys 15279 and the year ago level of 8181
dealers said the communique early in the european morning from the g 7 meeting contained no significant new factors and although the dollar dipped it generally resisted further attempts to push it lower through the day
ec us remain divided over pasta dispute
study says pork leaner than usda figures show
total corn commitments to the ussr for delivery in the fourth agreement year amount to 2825600 tonnes
allegheny international inc said it has entered into an agreement to merge with an affiliate of first boston incs fpc first boston corp in a transaction valued at about 500 mln dlrs
exxon corp xon rose 1 1 8 to 88 1 2
spokesmen for some japanese electronics firms said they would consider buying more us chips
kuwait whose shipping has come under repeated attack by iran has the full support of saudi arabia and other gulf allies a senior government official said
chrysler corp and regie natiionale des usines renault said they agreed to extend by up to two weeks the period for reaching definitive agreement on chryslers proposed 15 billion dlr takeover of american motors corp
french bond committee approves three issues
but for comparison purposes it noted that in january the average value of imports had fallen 15 pct year on year while the average value of exports had declined by only 44 pct
however major tax payments by banks on behalf of customers drew to a close this week lessening the need for liquidity
greenblatt said he bought the stock for 350000 dlrs soley as an investment and has no intention of seeking control of the company
initially the january position was reported as flat
theres just not enough internal capital growth said wertheim analyst james hanbury who follows other us brokerage companies
carlton intended to increase its presence in the us which represented 50 pct of the world television market
the margin will be 1 2 point over libor in years one to four 5 8 point over libor in years five and six and 3 4 point over libor thereafter
flowers industries inc flo hikes payout
browing ferris bfi declares 2 for 1 split
results exclude credits of 2227000 or four cts and 4841000 or nine cts for 1986 qtr and six mths vs 2285000 or six cts and 4104000 or 11 cts for prior periods from operating loss carryforwards
assets of money market mutual funds increased 139 billion dlrs in the week ended yesterday to 23677 billion dlrs the investment company institute said
it said the two companies which had combined 1986 revenues of about two mln dlrs provide underwriting information services to property and casualty insurers
canadas retail sales seasonally adjusted fell 01 pct in january after gaining 09 pct in december statistics canada said
have resigned and myers and morgan were named to the board
it said the loan will cover the entire foreign exchange component of the projects total cost of 65 mln
funaro rejects uk suggestion of imf brazil plan
alpha said it plans to concentrate on the high frequency portion of the electromagnetic spectrum
the transactions are subject to definitive agreements and government approvals
other possible strikes looming include stoppages by oil industry workers and social security workers
the exchange said it did not know when the yen bond futures contract would be approved the the cftc but that cftc provisions require that new contract submissions be acted upon within one year after submission
they said major japanese investors in the past two years are estimated to have held 50 to 80 pct of their foreign portfolios in us bonds but many have lightened their us bond inventory to as low as 40 pct
exports projected at 1375 vs 1250 last month
the united states believes japan will only react when bullied and this is a bullying ploy salomon brothers asia analyst carole ryavec said
bankers say continuation of present economic reforms is crucial for the government to get the international lending its needs
if we can consummate the deal earlier that would be better for all concerned lougee said
pig feed was 170800 tonnes versus 171600 and poultry feed 287600 compared with 256600
in a separate transaction livingwell inc an operator of 300 health clubs placed a six mln dlrs order with powercise international to install the powercise equipment in all of its clubs
it will also put 310 mln dlrs in brazilian loans on a cash basis resulting in interest reversals of 10 mln dlrs
qtly div 45 cts vs 45 cts prior pay may 15 record april 24
spectra physics inc said it is considering the possibility of recapitalizing restructuring or seeking a buyer for the company following its rejection of an unsolicitied 32 dlr a share bid from ciba geigy corp
mikulic said foreign debt should be retained at about the same level as now until 1990 and the country should then be able to keep currency reserves equal to three months payments
the measure however does not require reagan to comply with the 1973 war powers act which could lead to a pullout of us forces from the gulf
it said citicorps proposal properly may be viewed as the permissible acquisition of certain assets and liabilities of s and l branches rather than the acquisition of an s and l citicorp savings the successor to the failed fidelity savings and loan association has assets of 49 billion dlrs and operates 86 branches in california mainly in the north
shr loss eight cts vs loss 20 cts net loss 469000 vs loss 1104000 revs 3093000 vs 3056000 nine mths shr loss 19 cts vs loss 29 cts net loss 1098000 vs 1646000 revs 9562000 vs 122 mln
the offer of 13 new tesco ordinary shares for every 20 hillards ordinary shares valued each hillards ordinary share at 3055p
the government will also receive 85 mln sdrs under a new stand by agreement
spains inflation rises 04 pct in february
convergent technologies cvgto sees qtr loss
coopervision said furthermore until the entire net cash proceeds from the recent sales of several of our businesses are employed to reduce indebtedness make strategic acquisitions and or are otherwise employed in relation to a possible recapitalization of the company recovery of net income will be held back by the loss particularly of the tax income of the ophthalmic pharmaceutical business sold to johnson and johnson
he said the company has targeted waste energy systems and hazardous waste removal as some of the emerging growth areas for the company
shr 99 cts vs not given net 1943000 vs not given nine mths shr 235 dlrs vs not given net 4602000 vs not given note full name is gateway federal savings and loan association
pins are tradable foreign currency denominated financial instruments with a six year maturity designed for conversion into pesos to fund government approved equity investments within the philippines
turkeys domestic banks also partly missed out on the export drive as foreign banks moved into istanbul and reaped the benefits of trade finance with their added expertise
hb fuller co full 1st qtr feb 28 net
the senate voted unanimously to seek an expedited us probe of canadian tariffs on corn imports to determine if the united states should retaliate
while declining specifics on his corporate strategy when asked if acquisitions will be part of the plan pinola replied thats undoubtedly a fair statement it would be almost naive not to think that pinola characterized his acquisition strategy as opportunistic he said he will look for banks in management trouble that he can get at a bargain then add management to restore profitability or for banks in states where first interstate already operates then cut costs by combining resources
azpurua spoke to reporters after meeting representatives of the kreditanstalt fur wiederaufbau kfw bank of germany who tommorrow will sign a agreement to grant 100 mln marks 549 mln us dlrs in credits to venalum
the indian state trading corporation stc bought four cargoes of rbd palm olein totalling 24000 tonnes at its vegetable oil import tender last week traders said
it said the split will be payable april 17 to shareholders of record april 16
ministers also called on the ec commission to prepare a report on us japanese trade for july this year to enable them to take appropriate action where necessary
west german banks slowly cutting key savings rates
study says us canada pact would spur economies
the acquisition is subject to obtaining approvals waivers and forbearances from the federal home loan bank board and other government approvals
there is a 1 1 4 pct selling concession and a 5 8 pct combined management and underwriting fee
dealing demand for gilts with coupons around 10 pct has been getting stronger the general manager of the local office of a british securities firm said
we dont want to see tension rise and we are doing what we can to see if we can help here redman said
talks to restore quotas collapsed early last month when producers and consumers failed to resolve differences on how quotas should be allocated
microsemi said the purchase includes the fixed assets software inventories technology intellectual properties and other business operations of hci
the company said it continues to hedge the balance and seek opportunities to repurchase below par an increasing percentage of the bond issue
the company said the board at an october 16 meeting decided to defer until a board meeting later this week a recommendation on the edelman offer and said the board expects to make a recommendation by october 23
as crude production also fell there is likely to have also been a decline in non reported stocks particularly at sea the iea said
lyng says no decision on soviet eep offer
volcker also said he would prefer to further tighten the governments purse strings than have the fed tighten the credit supply if action was needed to fight inflationary pressures or to assure the continued flow of foreign capital into the united states
the grant is for the development of a major zinc and lead mine and associated smelting complex in rajastan north west india the agency said
finance minister barend du plessis will announce details at a news conference at 1500 gmt a spokesman said
sheet was firm as in previous weeks with rss1 averaging 2205 rupees against 22 previously
this delicate question was not resolved at yesterdays meeting but lawyers from both sides will try to draft suitable language for a telex by midweek gros and the bankers said
the pipeline transmits roughly two thirds sour crude and one third sweet crude oil from the midland texas region
the raid killed eight workers and destroyed the main living quarters and a bridge linking a wellhead to the main production platform
us oil tax break proposal to be examined
headquartered in somerset nj pms reported over 70 mln dlrs in revenues in its last fiscal year which ended may 1987
continental medical cont plans debt filing
the banks are national bank of north evanston elgin national bank first national bank of schiller park and merchants and manufacturers state bank in melrose park
indian plant signs first alumina export contract
tradestar tirr acquires image video
the attitude expressed here today so far is a great deal more optimistic than last year commissioner james e
major cocoa producing and consuming nations agreed operation rules for the buffer stock at a meeting in london last month and the stock manager is expected to enter the market soon
it previously filed a statement covering up to 600 mln dlrs of such notes national gypsum said
an increase in orders through newly acquired subsidiaries abroad was balanced by the decline in the dollar
stocks should gain on strong foreign demand and a modest second half economic rise
the 101 2 32 level in the june bond contract had been the top of a three month trading range which when penetrated during the rally wednesday led to bullish forecasts by chartists
initially it centred on bunzl plc which once held a 26 pct stake then switched to williams when it began accumulating shares
international proteins corp pro year net
german net currency reserves rise
rank shares firmed in morning trading to be quoted at 712p at 1320 gmt after 697p at last nights close
the company said depending on the success of the talks and operating results for 1987 one or two more properties could become subject to similar negotiations
he noted that the number of motion picture admissions in the us has shown no growth in 15 years
the only question is whether they will admit the whole thing in this estimate tate said it is possible the usda will lower its estimate by a lesser amount perhaps three mln boxes and continue to drop the estimate in subsequent reports as the crop picture clarifies
poehl has had to switch to the hard line promoted by his deputy helmut schlesinger jacking up interest rates to fight inflationary fears and abandoning the pragmatic policies he had pursued so far this year to promote currency stability
jepson corp jepso 3rd qtr net
he pointed out that there are some contractual points to be considered
amcast industrial corp said it completed the sale of its newman division to newman manufacturing inc a new company formed by newmans employees
the fire which started wednesday and burned for more than 24 hours destroyed the mines three year old conveyor system officials said
closing is expected in the second quarter following approval of definitive agreements
yeutter told a congressional hearing it was possible china could be a member of gatt before the end of the year
armstrong world industries inc said its gilliam furniture affiliate has purchased a 130000 square foot building in troutman nc for undisclosed terms
douglas said it was too early to project whether the anticipated fourth quarter performance would be enough for us to exceed the prior years overall earnings of 153 dlrs a share
the adjacent property is expected to begin in 1989
the federation of oils seeds and fats associations fosfa in london said it had previously advised traders to adopt the metric system for coconut oil transactions to bring the commodity into line with other vegetable oils
all were in the mid 90s friday
banks took up the bundesbanks standing offer of treasury bills to place excess liquidity
the commission also discussed the possible participation of spanish companies in the cuban tourist industry
cpc international to sell stakes in asian units for 340 mln dlrs to ajinomoto
speaking here after a meeting of the 11 nation cartagena group marcano said he was aware of political pressure at home to reduce debt payments but did not think such a move would benefit venezuela
the transaction was approved by the us bankruptcy judge in denver who is hearing kaiser steels chapter 11 reorganization case
the international cocoa organization icco council reached agreement on rules to govern its buffer stock the device it uses to keep cocoa off the market to stabilise prices icco delegates said
but the us embassy replied that chinese figures showing 13 years of trade deficits with the us out of the last 15 are inaccurate and said peking itself would have to persuade congress to change laws which limit its exports
but with cp air being run by eyton it will be very conscious of profitability and shareholder return
stc plc stcll year to end 1986
it is also seeking to extend 12 mln dlrs of mortgage payments due this year and is in talks to extend other debt payments
potash producers from new mexico claiming unfair government subsidies are seeking a 43 pct tariff on canadas shipments
fortune financial group inc said its fortune savings bank acquired a financial security savings and loan association branch in sunrise fla
the company said it expected profit from operations for the full year to improve over 1986
note company is wholly owned subsidiary of royal dutch shell group rdas
price details were not available
johnson and johnson said the sweetner is being jointly developed with tate and lyle plc tatl tate and lyle is seeking approval in canada the united kingdom and other european countries johnson and johnson said
exports were 286 billion dlrs in february against 283 billion in january and 223 billion in february last year
union planters upcmo acquisitions approved
st
singapore petroleum co raises oil product postings
swiss capital exports rose to 464 billion francs in january after 254 billion in december and a year earlier 364 billion the swiss national bank said
continental materials said the offer had been received from continental associates a group of st
the acquisition follows the exxon withdrawal from south africa announced last december
shr profit 107 dlrs vs loss 119 dlrs net profit 3326000 vs loss 3446000 nine mths net profit 9714000 vs profit 3665000 note latest and prior nine month per share amounts not given
the association has tested the basis it uses to calculate a french franc price over the last few months to ensure it was reliable the spokesman said
citicorp has estimated its profits for the first quarter would be cut by 50 mln dlrs if it put brazil on a cash basis
refinery crude runs in the four weeks were 1190 mln bpd up 14 pct from 1174 mln a year earlier it said
the change affects 515 mln dlrs in debt and assumes a merger of the two companies will be completed
the federal reserve is expected to intervene in the government securities market to add temporary reserves indirectly via 15 to 25 billion dlrs of customer repurchase agreements economists said
german february import prices fall
servicemaster svm sets quarter distribution
the europeans feared japanese personal computers would flood ec markets after washington imposed 100 pct tariffs last april
volcker says brazil debt move will not hurt banks
as prices and demand improve we are poised to accelerate capital spending on our inventory of attractive opportunities amoco previously announced a 1987 capital spending budget of 32 billion dlrs
the pre tax figure fell to 788 mln crowns from 872 mln in 1985 on sales increased from 41 billion to 42 billion giving net earnings of 521 mln crowns against 604 mln in 1985
leading brazilian party supports moratorium
group lifts airlease fly stake to 151 pct
general partners is equally owned by investors wagner and brown and glass maker afg industries inc
over the next two to three years a very interesting marketing battle will be fought competition will not be on price but on product features pei yuan chia head of the us card products group told a banking analysts meeting
monetary sources said officials were exasperated that the markets which drove the dollar rapidly lower and severely disrupted bond and stock markets too did not take heed of the policy commitments of the group of seven the united states japan west germany france britain italy and canada
conseco inc said it has signed a definitive agreement to acquire western national life insurance co from beneficial corp for 275 mln dlrs in cash
australian officials said they hoped the goodwill generated by their participation would lead to further citic investment in victoria
the company said it was taking the actions to restore sheet transaction prices to more equitable levels
spectra physics said the agreement prevents ciba geigy from raising its stake beyond 20 pct through jan 1 1992 unless another person get more than 10 pct of its voting power
the loan will be the fourth state issue for payment this year and also the fourth with a 625 pct coupon since dutch interest rates have changed little this year
ranco produces automatic control devices and power controls that regulate temperature pressure time sequencing current fluid flow and humidity
however he said the market should also take into account evident factors such as brazils low stocks and the sale of the near totality of the central american crop
salomon brothers international inc said it has raised the size of its collateralised mortgage obligation trust 23 to 350 mln dlrs from the 228 mln dlrs announced yesterday
after a highly favorable reception of a trial batch of bread baked from 300 lbs of us wheat flour last february the senegalese appear ready to take delivery of a first tranche of 10500 tonnes of mixed us wheat the us agriculture department said
shr 23 cts vs 14 cts net 439100 vs 259948 revs 9918413 vs 9683392 note share adjusted for five pct stock dividend
it said the new wholly owned unit has extended a 350000 dlr secured line of credit to micro designs inc
iadb chief says without sustained latin growth there will eventually be a default
shr seven cts vs one ct net 178919 vs 34429 revs 3148420 vs 1912438
officials from the national corn growers association and the national cattlemens association said their groups oppose any 0 92 or decoupling plan due to concerns about reopening the farm bill and creating more confusion among farmers
the company reported a second quarter loss last year of 19 mln dlrs or 14 cts per share on 239 mln in revenues
main destinations for refrigerated beef bone in equivalent were as follows in tonnes with comparative figures for 1985 in brackets ec 46300 49700 israel 16200 17600 brazil 18100 unavailable peru 8100 2300 angola 4800 12100 chile 3400 8200 switzerland 3000 3000 canary islands 2400 3700 singapore 1900 1700 aruba curazao 1600 1700 main destinations for canned meat and cooked beef bone in equivalent in tonnes with figures for 1985 in brackets were united states 88300 102900 ec 30700 24100
last year the domestic industry earned a total of 13 billion dlrs a 54 pct leap from 1985
the privatisation will be a way of attracting extra clients ccf deputy director general rene de la serre told 
european community commission president jacques delors called for a swift convening of a meeting of the g 7 countries following the instability in todays trading on world money and stock markets
in 1986 it bought three small suburban banks
the nanfang daily said production in guangdong province fell to estimated 192 mln tonnes from 196 mln and that the area under sugar was dropping
over 97 pct of the loan has been subscribed but dozens of smaller banks are still baulking
the us agriculture department estimated 1986 87 citrus production as follows in boxes total us orange crop excluding florida temples 190050000 boxes vs 190850000 boxes last month and 176410000 boxes in the 1985 86 crop
standard pacific spf acquires south bay s l
linotype is a supplier of type and graphics composition systems
analysts said borg warners chemical business would add earnings momentum to gaf
dixons group plc which is in a battle with cyacq corp for control of cyclops corp said a cyclops shareholder had agreed to withdraw a motion in us district court to prevent dixons from completing its tender offer for cyclops which expires 2400 est today
kilo gold 21 lots
proceeds will be used for general corporate purposes including the acquisition of seattle trust and savings bank which is scheduled for july one keycorp said
delegates from all 43 asian member countries of the g 77 are expected to attend the later meeting
allegheny today said it agreed to a buyout from first boston at 2460 dlrs per share
northern trust nrts files for shelf debt
he said the producer return per barrel at a price of 30 australian dlrs a barrel would rise to 207 dlrs from 080 dlrs if the levy was cut to 70 pct
on selected occasions when the dollar seems steady and because the trade deficit is not responding the united states decided to push germany and japan harder to meet their commitments to economic growth the federal reserve will do its part by moving rates down wojnilower said in a report
tomorrow next for which buy sell quotes started at 30 20 pct ended at 14 eight
under the new arrangement neither party has to hold a futures position before entering into an efp and one or both parties can offset their cash transaction with a futures contract the next day according to exchange officials
the central bank bank negara said yields on the 91 day malaysian treasury bills rate rose slightly to 2032 pct at this weeks tender from 2020 pct last week
bringing the franc close to the mark would of course have to be done step by step under the watchful eye of monetary policy he told shareholders
fed sets 25 billion dlr customer repurchase fed says
oper shr 14 cts vs 10 cts oper net 711000 vs 517000 sales 112 mln vs 111 mln note 1986 net excludes 84000 dlr gain from discontinued machinery division
uk money market given further 191 mln stg help
qtly div five cts vs five cts pay april 30 record april 15
the certificates are not liable to stamp duty
2nd qtr shr profit 32 cts vs loss 95 cts net profit 280 mln vs loss 822 mln revs 9502 mln vs 8620 mln 1st half shr profit 65 cts vs loss 62 cts net profit 566 mln vs loss 535 mln revs 188 billion vs 167 billion avg shrs 922 mln vs 867 mln note period ended february 28
a lot of farmers have been dragging their feet because they were anticipating some changes in the program but that doesnt look very likely now he said
the standard rate of taxation is being reduced by two pence to 27 pct from 29 pct
the proposal involved less than one third of the assets and liabilities of sears savings owned by sears roebuck and co s the fed said that it generally has determined there were potentially adverse effects of allowing affiliations of banks and savings and loan associations although it has allowed bank holding companies to acquire some failing thrifts
usx x unit raises prices on certain grades
it said president michael r
ricart currently the dominican republics ambassador to austria the netherlands and the un in geneva said he will visit the four major exporters australia brazil cuba and the european community to talk to governments and producers and find out about problems that are preventing these countries finding common ground for a new sugar pact
french economists including cheval at indosuez agreed with the report
a build is seasonal now and not out of line with last year one futures analyst said
the jordan branch saw pre tax profit rise 80 pct in 1986 to 550332 dinars on assets of 126 mln dinars
stockholders wont pursue continental cuo bid
in shipping mhi is fighting back against low priced south korean competition by building more technologically advanced carriers to carry liquefied natural gas and other products difficult to transport
he said pre tax earnings per share for 1985 86 according to the dvfa method were 2695 marks from 2140 marks and earnings after tax rose to 10 marks from 810
the bottom for yen bonds should be around a 63 pct yield for the 51 pct 89th bond they said
solar systems said it was buying the 45 pct stake in a us based europharmaceutical co inkey and an affiliate own the remaining shares of the company which was set up to distribute condoms and vaginal products that are made or are being developed by inkey
manufacturers hanover mhc files for debt offer
but coupled with other factors such as waning foreign speculative buying of mark bonds on the dollars decline long term yields may to have to rise economists said
traders also expect arab national bank to step up london operations
us lines far east operations comprise offices in hong kong singapore manila busan seoul tokyo yokohama kobe and osaka burnside said
bank of france again buying dollars sources say
latest data for central bank money stock the bundesbanks main measure of money supply showed the measure was growing at 7 1 2 pct in january outside its three to six pct 1987 target
sprinkel said the recent recovery of domestic demand in japan and europe has been one of the weakest in the post war period
mlx corp mlxx 4th qtr loss
beard co bec year loss
bank of america nt and sas bacn west german branch said it is negotiating the sale of bankhaus centrale credit ag a small local west german bank it acquired in 1965 and of its west german visa credit card operation
iraqs oil minister qassem ahmed taqi has been moved to the heavy industries ministry the official iraqi news agcny ina said tonight
unsmoothed figures show a deficit of 162 mln dlrs for january against 107 mln revised from 75 mln for december 1986 and 575 mln in january 1986
the company did not immediately elaborate on total production figures
he said australias concerns centred on coal and beef australias two largest exports to japan and also significant us exports to that country
gnb joins in leveraged buyout of french unit
they dont have the same kind of money they used to have they find their whole deposit base eroding fernandez said
the bank of zambia previously held weekly auctions to distribute foreign exchange to the private sector and determine the kwachas exchange rate but these were suspended at the end of january
it proposes to invest about 400 mln pesos in the manufacture of car spare parts and other items and generate about 100 mln pesos in export earnings over five years
paribas seeking to adjust ecuador oil facility
cato corp files for initial offering
shell canada and norcen energy resources ltd forecast improved 1987 earnings in their annual reports issued this week assuming oil prices remain at or above 1986 levels
most operators are expecting a base rate cut today possibly of one point following yesterdays budget in which the uk public sector borrowing target for 1987 88 was slashed by three billion stg
thad cochran r miss said
it was not until late last year after the currencies stabilized that companies again started issuing debt denominated in australian and new zealand dollars
there have been sporadic but frequent demonstrations by farmers protesting over sharp falls in meat and pork prices and further cutbacks in community milk output
us business loans rise 377 mln dlrs in march 4 week fed says
quarter orders 3502 mln dlrs vs 2967 mln dlrs
a group led by rosewood financial inc has also disclosed ownership of 62 pct of comdatas 190 mln shares outstanding and said it might seek to increase its interest to over 15 pct
the company since has granted trackage sharing rights to four western railroads to meet the iccs concerns and persuade it to reopen the hearings in its three year old struggle to merge the lines
bonn confident of maintaining currency stability
commodity exchange comex copper stocks climbed to 103000 tons in january from 93300 tons in december
argentine subproducts shipments during january december 1986 totalled 5618315 tonnes against 4815188 tonnes in the same period of 1985 the argentine grain board said
at 1200 gmt sterlings trade weighted index was up 06 at 727
aancor unit files amended registration statement
overall however trader and roaster opinion on the likelihood of a successful re negotiation was mildly pessimistic varying between a 50 50 chance and 60 40 against
shr loss two cts vs profit two cts net loss 104874 vs profit 90470 sales 3154673 vs 1666313 nine mths shr loss one cent vs profit four cts net loss 39169 vs profit 159784 sales 8250003 vs 4665553
funds raised in excess of the governments budgetary needs will not be channelled into increased spending but will be recycled back to the financial system largely through the mas hu said
he added however that treasury bond futures could be in for a retracement after the recent rise as they are near the top of the trading range
we have determined to dismiss twas application for approval of the acquisition of usair it said in an order issued late friday
deak buys johnson matthey commodities
grow group inc gro sets quarterly
venezuelan bank begins signing debt contracts
net 177 mln vs 153 mln note national westminster bank plc subsidiary
the criminal case settlement dismisses all charges including bribery and false statement except for conspiracy to which paradyne pleaded guilty
januarys record 30 pct unemployment rate mainly stemmed from loss of jobs in manufacturing industries particularly in export related firms due to the yens continuing appreciation against the dollar officials said
the lipc is allowed to import most beef with the amount set by the government under a quota system
with the federal funds rate trading comfortably at 6 9 16 pct down from yesterdays 674 pct average economists said the fed did not need to take reserve management action today
there is a 1 8 pct praecipuum
arrivillaga said the first priority for the government would be to tap domestic sources of financing for the land transfer but external assistance could be brought in if there were gaps
agency head says japan should cut rice price
fees comprise 1 1 4 pct selling concession and 5 8 pct for management and underwriting combined
he said a resurgence of demand from the middle east following the recent recovery in oil prices coupled with persistent demand for power plants in developing countries will help mhi restore its exports to sales ratio to the past decades average of 30 pct
the notes in denominations of 100000 us or australian or new zealand dlrs will have maturities of one to 12 months
warrington said it decided to rationalize the balance of its ski businesses which is expected to result in a divestment loss which could outweigh the net gains on the sales of its shoe and ski boot divisions
the 1986 effective loan rate is 456 dlrs because of the 43 pct gramm rudman budget cut
the bonds are non callable and payment is april 29
atlantis international ltd year loss
capitol bancorp said it has sold its 80 pct interest in cap mortgage co inc for 31 mln dlrs adding this is expected to result in an after tax gain of about 900000 dlrs to be reported in the first quarter
cocoa chairman works towards buffer compromise
the group ended the year with a cash surplus higher at 54 mln stg compared to 26 mln previously after capital expenditure which rose to 54 mln from 43 mln
tokai international ltd is other joint book runner
protective life corp said it has signed a letter of intent to assume liberty life insurance cos group insurance on july 1 subject to regulatory approvals
if these credit lines were cut we would face difficulties to honour our foreign debt in the future funaro said
results include after tax gains of 567000 for both 1986 periods vs loss of 45000 for prior periods on disposal of discontinued operations
a senior us treasury official said there has not been a consensus reached yet when asked about reports the paris club of western creditors had agreed to long term stretch outs of african debt at concessional interest rates
japan us interest rate differentials which currently look wide enough mean nothing in the absence of dollar stability said kawakami
ccc accepts bonus bid on semolina to egypt
japanese people dont like fighting
groupement pour le financement des ouvrages de batiment travaux publics et activites annexes gobtp plans to launch two variable rate domestic bonds totalling 700 mln francs lead managers credit commercial de france ccf and caisse centrale des banques populaires ccbp said
thats going to prove very very instrumental in increasing volume over time he said predicting the increase would come within a year
allegheny international inc said it has sold its chemetron railway products inc true temper railway appliances inc and allegheny axle co units to newly formed chemetron railway products inc for undisclosed terms
the market doesnt see this as a real crisis yet economist jorge braga de macedo told 
the daily telegraph quoted jardine chairman simon keswick as saying hongkong land was at a crossroads now that all its non property assets as well as its major residential properties in hong kong are being sold off
a company spokesman said the company will take some writeoff in connection with the action in the first quarter and there will probably be a further carryover writeoff in the second quarter
the usda has to date reported ussr purchases of 26 mln tonnes of us corn for delivery in the current us ussr grain agreement year which ends this september 30 it said
rio de janeiro ibc estimates 1987 88 coffee crop at 352 mln bags
1986 net excludes extraordinary loss 1167000 dlrs in quarter and gain 628000 dlrs in year
an investment group leds by robert m
brazil wanted to maintain the previous export quota shares under which it was allocated 30 pct of world coffee exports but consumers and a small group of producers pressed for shares to be redistributed using objective criteria which would have threatened brazils share
the index for industrial production base 1980 was set at a seasonally adjusted 1098 in january after decembers 1094 and compared with 1082 a year earlier
instinet said it expects the merger to become effective as soon as possible after shareholder approval at the special meeting
urs corp urs regular stock dividend
canada plans an auction of three year bonds march 31 and an auction of seven year bonds april 1 the finance department said
the government has said the land reform plan aims to distribute 97 mln hectares of land to impoverished peasants
in addition payments for the 1987 1989 period were lowered from 382 billion dlrs to 1350 billion dlrs
under this latest arrangement lucky stores said it agreed to reimburse the edelman group for 28 mln dlrs of out of pocket expenses which include litigation and other costs
there was also no projection for oil revenue
safeguard said the investment gives it a major ownership position in sanchez which specializes in software products for financial institutions
congressmen urge us soybean program changes
1986 nine mths includes loss 2477 mln dlrs from write down of petroleum service assets and other restructuring costs
commonwealth bank of australia is issuing a 15 billion yen dual currency bond due april 24 1992 with an eight pct coupon and priced at 101 3 4 pct salomon brothers international said as lead manager
it had gains of 813 mln dlrs in 1985
this is going to raise some eyebrows at the fed mccarthy said
boeing co said it has started the 37 dlr per share tender offer for all shares of argosystems inc that it announced yesterday morning
cpi corp said it expects to post higher sales and earnings for its fiscal year ended february 7 when it officially reports results in three weeks
a 15 billion euroyen issue was launched for associates corp of north america paying five pct at 102 3 8 pct due 1992
olson said he expects atts cash flow to remain strong despite the poor earnings
at this weeks tender on monday the bank sold a total of 77 billion francs worth of 13 and 26 week bills against an original offer of seven billion and demand for 2266 billion
i doubt that there would be any subsidy offer this summer or before the next agreement year begins a usda source said
current profit for the year was estimated at 17 to 18 billion yen down 20 to 24 pct from a year earlier he said
pacific southwest airlines said it reached an agreement with the southwest crew controllers association needed to satisfy conditions of usair groups u proposed acquisition of psa
as a result of this ruling epac was excluded from a march 12 tender for the import of 80000 tonnes of maize
notes in circulation totalled 1624 billion dlrs up 76 mln dlrs from the week before
alcoa raising prices of aluminum beverage can stock eight pct
the five year deal is priced at par and guaranteed by the sumitomo bank ltd
the world bank and other independent sources have said inflation would be around 15 pct in 1986 87
proposals for a secondary market for the resale of farm real estate loans similar to home mortgage markets is gaining support in congress and among rural lenders and could be established this year congressional and financial sources said
the company said first boston has committed to provide all financing necessary to acquire such securities in the tender offer which is estimated to be about 500 mln dlrs
fairchild industries inc 4th qtr oper shr loss 44 cts vs loss eight cts
shr 67 cts vs 65 cts net 189 mln vs 186 mln revs 3990 mln vs 391 mln nine mths shr 170 dlrs vs 198 dlrs net 482 mln vs 569 mln revs 118 billion vs 12 billion
they also said the ec would be in breach of an undertaking not to bring in new protectionist measures during the current punta del este round of world trade negotiations being held under gatt general agreement on tariffs and trade auspices
encors stock price has improved quite substantially in recent weeks with a runup in crude prices peters and co ltd oil analyst wilf gobert commented
this rise reflected industrys need for equipment to raise production and is perfectly compatible with the governments program for economic growth fendt added
winter grains in eastern europe usually break dormancy in early april it said
cardenas said the market situation was getting clearer because the trade knew the projected output and stockpile levels of producers
continental health affiliates inc cthl 4th qtr
the sources said that finch in a statement considered unprecedented told the board that the united states had brought undue pressure on the imf to approve funding for zaire and egypt
brennan said brazil is currently exporting products like paper machinery and ships to canada
xuto said the new pact maintains the same objectives that were set in the present accord
we are in an impossible situation unless we get government relief the company will be bankrupt in three years he told 
in fiscal 1986 ended november 30 1986 hartmarx reported earnings of 248 mln dlrs or 120 dlrs a share down from the prior years 427 mln dlrs or 225 dlrs a share
shr after preferred divs
salomon brothers henry kaufman said the bond market highly sensitized to dollar movements could be encouraged if currency markets seem to be stabilizing or if us and overseas economic growth is perceived as slowing sharply
champions suit claims that various champion investors alligned themselves with cormier and navon who failed to disclose properly under federal laws that they were acting in concert and they intended to spin off parts of the company and sell the balance within two years once they got control
usx also said it expects to record a gain of 150 mln dlrs in 1988 representing 50 pct of previously existing investment tax credits allowable under the new tax law
traders said some slight production problems seem to exist but are unlikely to have any impact on the market
saudi oil minister sees no need to alter opec pact
canadian gypsum co ltd year net
cable and wireless to merge two hk units into new telecommunication operation
lower corn production prospects in some major supplying countries have stirred activity from big buyers such as japan and the soviets are also closely watching the situation the official said
the branches are in la jolla la mesa and san juan capistrano calif
he said some banks might want to hold out for a higher price but others would see the repurchase offer as a window of opportunity to cut their losses
proceeds will be used to redeem the companys outstanding 8 3 4 pct convertible subordinated debentures of 2008 burlington said
to that end the administration in january allowed foreign policy controls on the export of oil and gas equipment to the soviet union to lapse he said
nogales said bolivia would offer to buy back the debt at a market price
dart said despite such management payments it agreed to discuss all aspects of its offer and in fact did try to negotiate a transaction at the march 18 meeting with sgl
burr brown bbrc sees lower 1st qtr earnings
uk money market shortage forecast revised down
gencorp gy group to seek anti greenmail vote
mitsui and co ltd mitst paid 15 mln dlrs in early may for a five pct stake in zoran corp a california based maker of large scale integrated circuits lsi with computer graphic communications and medical applications a mitsui spokesman told 
frank fountain assistant treasurer at chrysler corp said a 100 mln dlr swap it made in december had gone so smoothly that chrysler has plans for more
georgia pacific gp debt upgraded by s p
crude oil runs are expected to be unchanged from the previous week or slightly higher or lower
citing the share buybacks from norfolk southern he said one of santa fes options if threatened could be to buy the henley stake
ussr wheat imports are forecast at 1500 mln tonnes in 1986 87 vs 1500 mln tonnes last month
it then changed its name
a shareholder meeting is expected to be held in august
shr 23 cts vs 28 cts net 43 mln vs 51 mln revs 645 mln vs 671 mln note1986 reflects two for one stock split effective july 31
investor lifts myers myr stake to 121 pct
it said the split would raise the amount of common shares to about 252 mln from 168 mln and subordinate voting shares to about 239 mln from 159 mln
mtech corp said it expects to file shortly for an offering of subordinated debentures convertibe into common stock
based on about 183 mln outstanding shares the market in its frenzy was valuing the spin off at about 900 mln dlrs analysts said
finlands mining and metals group outokumpu oy outohe which last week reported a 1986 loss of 83 mln markka after three successive years of profits said it restructured its key copper processing division in an attempt to rationalize production and improve profitability
both schlumberger and fujitsu are foreigned owned companies
the venture has become a developer and manufacturer of high performance high capacity data storage products sold by control data to computer systems manafacturers worldwide it said
in remarks prepared for a speech before the economic club of detroit roderick said there should be total resolve that the dollar versus other major currencies as well as the currencies of other nations having a substantial trade surplus with us must continue to decline so that the correction in our trade deficit starts on the road to recovery roderick said the us should be understanding of the economic pain our trading partners experience as a result of a falling dollar
progressive savings has assets of about 500 mln dlrs and operates ten offices in los angeles and orange counties
prices are now around 18 dlrs
exports of beef veal are also predicted to decline to 480000 tonnes shipped weight in 1987 from 515000 in 1986 and then rally to 490000 in 1988 the amlc said in a summary of its bi annual meat and livestock forecasts
gomes said in the statement there have been no problems in the concession of funds by the treasury for payment of the coffee delivered to the ibc warehouses by the producers
house 0 92 plan seen scaled back to 1987 wheat
the dollar will decline over the next two to three years but this is unlikely to result in a complete reduction of the us current account deficit said anthony solomon chairman of sg warburg usa inc and former president of the federal reserve bank of new york
fountain said that even a large well established firm such as chrysler had found it difficult to arrange long term peso financing on reasonable terms in mexico
progressive is currently involved in a proposed merger with rainbow corp ltd rainbow earlier this week raised its stake in progressive to 52 pct
new york cocoa traders reacted with caution to todays developments at the international cocoa organization talks in london saying there is still time for negotiations to break down
the decision followed yesterdays ruling by an amsterdam court preventing the sectors employers continuing with current plans for 350 redundancies this year until the court sits again on may 7 rosenmuller told a meeting of the general cargo sectors 4000 workers today
the two south american countries share of the west german market rose to 932 pct from 802 pct because imports from ecuador fell to 21110 tonnes in 1986 from 51722 in 1985
a major loophole in the general agreement on tariffs and trade has been closed today a senior us official here commented
the sec is also considering expanding futures trading of additional countries government securities to be marketed and traded in the united states the officials said
dominion has denim manufacturing plants in georgia which would reduce competition in the denim market the lawyers said
a major shift of real resources to the external sector about 4 1 2 pct of gdp by 1990 91 was required for the economy to expand in line with potential for employment to grow and for the debt gdp ratio to stabilize it said
lukman gave no specific figures for february output
this could involve moving cbt markets in us treasury bond futures treasury notes muni bonds and options on t bonds and t notes through an adjoining corridor while utilizing the midamerica floor for such cbt futures contracts as corn wheat soybeans soybean products and agricultural options
bralorne resources ltd year loss
if the average weight is down and there is no price weakness to delay marketings the cattle would be marketed at lighter weights which could reduce the beef supply as much as three pct
he said the awb expects the area sown to be about 107 mln hectares down from 113 mln in 1986 87 when the crop was about 16 mln tonnes
ended jan 31 shr nine cts vs eight cts net 246000 vs 369000 revs 204 mln vs 112 mln avg shrs 2123000 vs 1882000 note 1985 restated
according to market sources the ranges agreed were 160 to 190 marks to the dollar and 140 to 155 yen to the dollar
jones and vining makes shoe lasts and shoe components
sprinkel said cutting the budget deficit was the best way to lower the trade deficit
there was really very little that remained to be done the ruling in san francisco came in a lawsuit that had been filed in a los angeles federal court in which the air transport employees union sought to force westerns management to fulfill a promise that it would honor union contracts if a merger took place
commenting on that meeting he said so far so good yesterday british farm minister michael jopling said enough ec states appeared to be opposed to the proposals by the commission for a 330 european currency unit a tonne tax on vegetable oils fats and marine oils for the moves to be defeated
attributable profit 185 mln stg vs 165 mln making 664 mln vs 516 mln
mcculley said that once the spread between three month certificates of deposit and the prime rate narrows to less than 1 1 2 percentage points there is a strong chance of a prime rate increase
although floating paper from better regarded borrowers such as the uk managed to finish the day only around 10 basis points down other sovereigns like sweden and supranationals like eurofima suffered heavier losses frn dealers said
a spokesman for the government controlled mining company said the countrys cobalt production fell 24 pct to 879 tonnes over the same period while cobalt sales rose 92 pct to 1734 tonnes
analysts believe this probably is about where the fed wants the funds rate to be
but martin said the product cycle was key to understanding the rise and fall of ibm and other computer companies and pointed to digital equipment corp dec to support his view
andriessen hints fats oil tax could go to summit
the preferred stock is redeemable starting at 52875 dlrs per share on march 15 1987 and declining on each march 15 to 50 dlrs on and after march 15 1997
the national average diesel fuel sulfur content in 1986 for the survey respondents was 027 weight pct while the average aromatics content was 32 pct
things are proceeding as planned and we fully expect that at the time we have to pay for the shares the financing will be in place good said
yeutter said if japan takes action to honor its agreement with the us on semiconductor trade then the retaliatory response will last a relatively short period yeutter said japan must stop dumping chips in third countries and buy more american computer chips
the central bank charged with supervision of commercial banks has previously issued only finance ministry bonds
the failure of farm ministers this week to come to an agreement resulted in no bids at this weeks tender for export subsidies and traders said bids are unlikely as long as the uncertainty remains
dibona said there is no unanimity within the industry on how to stimulate energy production but there is consensus on removing several government policies that hinder investments in new prospects
shares of temple inland inc tin and international paper co ip rose sharply this morning following a recommendation by prudential bache securities traders said
a world bank team led by senior economist katrine saito arrived in uganda for talks on an economic recovery program projected to cost one billion dlrs over three years
the new price for high grade zinc is 37 us cents and 49 1 2 canadian cents a pound the company said
non refundable for 10 years the issue is rated a 3 by moodys and a minus by standard and poors
they said the japanese oil market would be most affected and japanese end users would need to rebuild stocks for winter requirements before october
shr 40 cts vs eight cts net 2292000 vs 465000 revs 819 mln vs 789 mln nine mths shr 120 dlrs vs 101 dlrs net 6842000 vs 5755000 revs 2447 mln vs 2342 mln note 1986 qtr and nine mths includes loss 2223000 dlrs or 39 cts per share from unspecified extraordinary item
bayernverein expects unchanged dividend for 1987
i was very reassured by the determination of mr
brazil had the third largest trade surplus in the world funaro said although its share of international trade was only one pct
the international swap dealers association has developed the first standard form contract for use by arrangers of currency and interest rate swap transactions said thomas jasper the associations co chairman
they worry that this could further reduce the industrys shrinking deposit base
the notes offered in us capital markets by salomon brothers inc are due april 14 1989 and are for settlement april 14 with the first interest payment being made oct 14
they told the two discussed the subject at a routine meeting
commercial banks and life insurance companies are the main supporters of a farm loan secondary market since they believe it would allow private lenders to compete more effectively in rural lending with the quasi government farm credit system traditionally the largest lender to farmers
thailands improved business climate this year resulted in a 27 pct increase in imports of raw materials and semi finished products
the recent price hike represents the fifth this week totalling 475 cts
shr profit eight cts vs loss 10 cts net profit 622000 vs loss 564000 revs 7508000 vs 1913000 year shr profit 15 cts vs loss 28 cts net profit 933000 vs loss 1548000 revs 198 mln vs 4799000
shr two cts vs three cts net 21080 vs 35393 revs 2026017 vs 2476068 nine mths shr five cts vs six cts net 48567 vs 59527 revs 6231242 vs 6519473
the first transaction a 120 mln stg credit will be arranged by nm rothschild and sons ltd and bank of tokyo international ltd on behalf of a special purpose greycoat subsidiary yet to be incorporated
he said it was profoundly unjust to blame it on recent increases in west germany
court enjoins zico investments tender for bancroft convertible fund
the united states said its forces destroyed an iranian oil platform in the gulf and struck at a second on monday in retaliation for a recent iranian missile attack on a us flagged kuwaiti ship
traders said this pushed lead prices higher in early morning trading as the market is currently sensitive to any fundamental news due to its finely balanced supply demand position and low stocks
the company said the rights would be exercisable 20 business days after a party were to acquire 20 pct or more of crazy eddie common stock or announce a bid for 30 pct or more
at the same time payments over the next three years were lowered from 3450 to 1350 billion dlrs
there are heightened fears that el nino may be returning to peru with an intensity approaching the 1983 disaster which affected the weather on several continents and caused widespread damage through floods and drought the us agriculture departments officer in lima said in a field report
the us position is that it is not seeking veto power although it believes the banks largest contributors should have greater influence within the institution
analysts noted that bowaters profits of 189 mln stg from 132 mln previously had been given a boost by pension benefits of 45 mln stg
peviously lynch would have held about 25 pct with becor holders receiving 25 pct and becor management about half
the drop in may to a seasonally adjusted annual rate of 616000 units was the largest since january 1982 the commerce department said
under the tender the company will repurchase the 10 5 8 pct notes at 111650 dlrs per 1000 dlrs principal amount plus accrued interest to date of payment
deposits and interbank borrowings rose to 680 mln dlrs from 550 mln he told 
the new facility replaces the current 42 billion guilders of nine day advances which expire tomorrow
among the bank issues never rated publicly are long term debt securities of lloyds bank plc allied irish banks bank of ireland and bank of scotland
brazils attempt to seek better terms for paying off its 109 billion dlr foreign debt is responsible and modest a former chairman of president reagans council of economic advisers said
international research irdvo 3rd qtr payout
it said the project will raise its bisphenol a which is used to make polycarbonate and epoxy reins capacity to 192 mln pounds per year from 165 mln pounds now
perus consuemr price index rose 53 pct last month to 139144 base 100 following a 53 pct increase in february and 53 pct rise in march 1986 the national statistics institute said
cyclops corp said its board has been restructured under the terms of the companys merger agreement with dixons group plc following the british companys acquisition of 54 pct of cyclops stock
it would take about five months to repair the pipeline to balao government officials said
wilcox and gibbs inc wg sets payout
treasurys baker says he stands by paris pact to foster stable currencies
shr one ct vs one ct net 528790 vs 286969 revs 2537803 vs 773729 year shr seven cts vs one ct net 2429576 vs 404394 revs 6726327 vs 1150961
pantasote inc pnt 4th qtr loss
it has been a fairly hectic trading week in raw sugar with china paying market levels for nearby shipments london trader woodhouse drake and carey said in its weekly report
a 250 mln dlr issue of bonds due 1997 was given a 7 5 8 pct coupon and was priced at 9925 to yield 773 pct or 605 basis points more than comparable treasury securities
production of indonesian cocoa beans tripled to 31600 tonnes in calendar 1986 from 10284 tonnes in 1980
it said manning has resigned as president in favor of myers and will service as vice president in charge of oil and natural gas operations
1986 year net excludes tax credit 919000 dlrs
he would then talk to the commercial banks if ive got some solution from the governments
the interest rate ceiling of mmcs with maturities of between one year and two years will be set at 05 percentage point below the prevailing certificate of deposit rate the bank said
revlon said its board of directors unanimously approved the merger agreement
affirmed were the companys bbb minus senior debt bb plus subordinated debt and a 3 commercial paper
dutch oilseeds fats imports rose in 1986
the wholesale price index base 1963 stood at 1685 in february from 1761 last year
west german industrial production seasonally adjusted rose a provisional 32 pct in february after a downwards revised decline of 34 pct in january the economics ministry said
at least four of the 41 mills were not working during the 1986 87 season he said
roughly half of this years expected 130000 hectare dutch sugar beet crop is already in the ground a spokesman for suiker unie the largest sugar processor in the netherlands told 
shell canada ltd 72 pct owned by royal dutch shell group anticipates an improved level of earnings in 1987 assuming a continuation of prices and margins that existed at the end of 1986 and early 1987 the company said in the annual report
the government has said it will ask for another 500 mln dlr long term loan from a world bank led consultative group of multilateral and bilateral aid donors to partially fund its land reform program
capital cities abc ccb sets payout
the board suspended offerings last week but because of its urgent need for cash it was not immediately clear how long it could sustain the sources added
exports rose slightly to 336 billion rand in february from 331 billion in january but imports fell to 174 billion from 241 billion
gros said negotiations with the commercial creditors would start within two weeks when he and finance minister dilson funaro attend council meetings of the international monetary fund imf in washington
spains finance ministry deregulated bank deposit rates in an effort to raise competition among banks and bring legislation into line with the european community ec a ministry spokesman said
at an analysts meeting here the company said that for the year ending april 30 1987 it will earn about 73 mln dlrs or about 515 535 dlrs a share on sales of about 500 mln dlrs
us senate republican leader robert dole r kan said he and a group of republican lawmakers are considering introducing legislation to extend the ethanol tax exemption through the year 2000
sec investigations into those kinds of possible securities law violations have been spawned by the agencys widening probe into the wall street insider trading scandal according to published reports
brokers choice capital inc said it signed a letter of intent to buy rubbertech inc
williams details acceptances of norcros offer
alcad is one of the worlds largest producers of pocket plate nickel cadmium storeage batteries used in industrial and railroad applications to start engines and as light sources saft said
as reported separately soon after announcing the delhi sale csr launched a takeover bid for the 6826 pct of pioneer sugar mills ltd that it does not already hold valuing its entire issued capital at 2196 mln dlrs
shr 57 cts net 6889000 vs 107 mln nine mths shr 167 dlrs net 201 mln vs 229 mln assets 163 billion vs 147 billion deposits 117 billion vs 119 billion loans 125 billion vs 9365 mln note 3rd qtr and nine mths 1986 per share figures not available because bank converted to stock form nov 28 1986
but the countrys hard currency trade balance nevertheless fell into a deficit of 5394 mln dlrs from a surplus of 2953 mln in 1986 and 12 billion in 1985
a and w brands files initial public offering
ideally we the government should have a full term but events could force a premature poll lawson said
the new firm should supply all the us major car makers including ford motor co f general motor corp gm and chrysler corp c he said
coffee accounts for 60 pct of ethiopian exports and the recent fall in world coffee prices has sharply reduced the countrys foreign exchange earnings
the borrowing countries need to be able to proceed with confidence that the necessary funds will be available to them he said
for the year bayou reported a net loss of 14 cts or 116793 dlrs compared to a net income of 23 cts or 203372 dlrs
italian treasury bill offer has mixed response
we consider this matter is now closed weinberger said four us destroyers attacked the platform about 120 miles east of bahrain in the central gulf with fire at 0700 edt weinberger said
his idea which many conservative economists find appealing has some backing among board members appointed in recent years by president reagan
orders received 221 billion francs vs 261 billion
im not so sure we would be interested in getting back into that business however guinn generally applauded the us recommendations saying they would give more latitude for the bell operating companies to expand into non regulated businesses and provide more flexibility to form strategic alliances with other companies
that will leave the cable and wireless group with an 80 pct stake in hong kong telecommunications the government 11 pct and nine pct in public hands
under the agreement for which the signing began on friday commercial banks are being asked to contribute 129 pct of their exposure to mexico as of august 1982
the federal home loan bank board adjusted the rates on its short term discount notes as follows maturity new rate old rate maturity 30 140 days 500 pct 500 pct 30 179 days 141 160 days 613 pct 608 pct 180 200 days 161 182 days 500 pct 500 pct 201 274 days 183 200 days 617 pct 618 pct 275 290 days 201 360 days 500 pct 500 pct 291 360 days
in a filing with the icc late today the company outlined four conditions of its offer to acquire southern pacific
originally guinea held 50 pct in the project and nigeria 162 pct with firms from several other countries also involved but the project ran into problems over funding and the slump in world iron ore markets
we want to be in every country that att serves he said
this seasonal reserve add is called a pass the fed demonstrated that there has been no policy change said elizabeth reiners economist at dean witter reynolds inc
us tallow production and stocks
traders said the new market would probably be a useful trading medium for japan and other south east asian tin interests although european traders generally appear to be reasonably satisfied with the current free market system which has been operating since london metal exchange lme tin trading ceased in october 1985
among the reports options to ease us reliance on foreign oil are several already advocated by the reagan administration
if current policy remains in force annual farm program spending by 1992 will be down from last years record by more than eight billion dlrs it said
professionals in the grains trade think that farmers will be more willing to stick with corn acres than soybeans because corn is protected by the acreage reduction program
afbf president dean kleckner made the comments in response to the ruling earlier today by the canadian import tribunal that subsidized us corn imports were injurious to canadian growers
shr 89 cts vs 68 cts net 1160 mln vs 881 mln revs 117 billion vs 9240 mln 12 mths shr 117 dlrs vs 93 cts net 1522 mln vs 1198 mln revs 244 billion vs 197 billion note net 1986 were restated to reflect three for two stock split on june 27 1986
four seasons hotels inc year net
under current programs freight costs can be covered only for export sales of us breeding animals
india details rain flood damage to grain in 1986
baker says us not seeking iadb veto
the state treasury issues government paper with a maturity of up to one year
pig cash settlement futures saw 201 contracts traded against 19 in january and the value rose to 659864 stg from 119610 stg
the museum said it has 152 mln dlrs principal amount of gross revenue bonds outstanding and approximately 1350000 of unsecured debt
also warnings have been posted for large waves and beach erosion along the shores of the lakes
chuan hup issues 28 mln dlr frn
there was some 44 billion dinars about 157 billion dlrs in outstanding bank credit at the end of 1986 of which one quarter to one third was estimated by bankers to rank as bad or doubtful debt
lynch lgl plans offer for becor bcw stock
china crop weather summary usda noaa
a secondary market for resale of farm real estate loans similar to markets on home mortgages is gaining support in congress and among rural lenders and could be set up this year congressional and financial sources said
okb issues 100 mln canadian dlr bond
transportation department dismisses twa application for usair control
for its first quarter ended january 31 farah lost 1891000 dlrs or 32 cts a share on sales of 71 mln dlrs
consumer products represented 50 pct of total 1986 turnover compared with 35 pct in 1982 van driel said
the won has risen 203 pct against the dollar so far this year after rising 334 pct in 1986
according to the feds trade weighted index it had declined nine pct since the beginning of the period
i would think that the debtholders would want to entertain any and all offers for dome gobert said
its fundamentally in their best interest
standard and poors corp said it cut to bb minus from bb plus trinity industries incs 275 mln dlrs of liquid yield option notes
brazil first requested the 300 mln dlr credit last november to help it develop the sale and generation of electric power
gunnar said it and mill city can earn a 50 pct interest in tyranexs option to buy the tyranite gold mine by spending up to five mln dlrs on exploration development and feasibility studies by 1990
levitt corp lvt 4th qtr net
the company said hecks chapter 11 filing could however affect viners previously reported legal action to recover costs from an aborted merger agreement with hecks
it said it might take legal action or seek the support of shareholders in calling a special meeting to replace the board and consider other proposals
shr 29 cts vs not given net 3508000 vs 2483000 note company went public in august 1986
concerned by the first quarter downturn the us has been pressing west germany to pump up its economy and boost its imports either through fiscal or monetary policy
yugoslav trade is declining rapidly this year in hard currency terms according to the latest federal statistics office fso figures
in addition to papua new guinea merlin has petroleum exploration and production interests in the us bond added
gross investment in industry was expected to grow by five pct this year a slowdown compared with 115 pct growth last year the cpb said
brown group inc 4th qtr shr 77 cts vs 76 cts
petroleum equipment tools co ptco 4th qtr
a meeting has been set for tomorrow in brasilia of the cnpcs export marketing committee to establish a system for allocating the 25 pct of export quotas based on stock levels the spokesman added
combustion said the restructuring at lummus crest is expected to substantially reduce but not eliminate this year losses in the engineering and construction segment
the paper would be investor driven with the bank gauging demand through the dealing panel which would also offer a liquid secondary market hand said
he said his offer has been extended based on the likely duration of the regulatory process
but such an outlay of funds by the government would not be possible without seriously impairing development projects or greatly fuelling inflation in the economy the letter said
mts acquisition corp a company formed by martin t
in this context algerian lng import would be a source of supplemental supply to us domestic production he added
moscows decision at that time to reenter the us corn market strengthened the perception of warming farm trade prospects
backlog 308 mln vs 267 mln at start of fiscal year
skippers inc skip semi annual dividend
shr 32 cts vs 35 cts net 3446000 vs 3789000 revs 2209 mln vs 1869 mln nine mths oper shr 77 cts vs 71 cts oper net 8301000 vs 7298000 revs 6343 mln vs 5351 mln note 1987 nine mths net excludes 3510000 dlr charge from antitrust litigation
loans to non bank customers increased in december to 3874 billion dlrs from 3864 billion in november and 3744 billion in december 1985
more us and european firms will be falling prey to japanese corporations bulging with cash and eager to extend their reach further overseas according to merger and acquisitions specialists polled by 
the company said the special committee of its board plans to meet later today to consider this offer and the one submitted march one by mcv holdings inc a spokeswoman was unable to say if the committee met as planned yesterday
african imports
loophole for tankers in norways s
fiat spa fiatmi said it had no plans to issue eurobonds linked to shares still held by banks after the placement of the 15 pct libyan stake in fiat last autumn a company spokesman said
this was one of the strengths of west german exports compared with japan which depended in large part on the us opec and developing country markets it added
there is still a clamour for the sharing of benefits different sectors claiming their rights and duties
broadly based m 2 money supply rose 16 pct to 3095 billion dlrs during december after a 17 pct rise in november bringing year on year growth to 100 pct for the year ending in december against 102 pct for the year ending in november
out of this traders in france received 18000 tonnes in denmark 15000 in west germany 12250 in the netherlands 12000 and in belgium 3250 tonnes it added
norgolds issued capital will be 2405 mln shares of which 63 pct will be held by nbh after 89 mln are issued to shareholders to raise 196 mln dlrs it said
operators have been extremely cautious about testing the dollars trading ranges against the west german mark and japanese yen
inflation in the 24 industrialised nations of the organisation for economic cooperation and development was 21 pct in the year to january unchanged from december the oecd said
he said the effect of lower inflation and financial deregulation on monetary aggregates was now largely finished
the dispatcher said the elevator was filled with corn and a nearby drying building holding soybeans was on fire
both leaders stressed the long ties between france and the united states during a welcoming ceremony in the white house east room with reagan describing france as americas oldest ally in war and peace i have come to tell you that we are remain motivated by the same ideals of freedom by the same will to face the dangers which we both confront terrorism war hunger poverty new diseases and drugs chirac replied
canadian imperial bank added that cardholders will be allowed to choose between the 15 ct transaction fee or the six dlr yearly card fee
in testimony before the house appropriations committee baker outlined many of the measures taken designed to achieve more balanced growth and a reduction of trade imbalances during the paris meeting
dealers generally doubted whether any economic package japan could adopt soon would be effective enough to reduce its trade surplus significantly and said such measures would probably invite further us steps to weaken the dollar
including forward deals total deliverable volume was 2701 billion dlrs a day 1343 billion against the australian dollar against 1956 billion 848 billion in december and 992 billion 588 billion a year earlier the bank said
federated financial savings said it declared an initial quarterly dividend of 85 cts a share april 27 record april 13
however technicians are not involved in the walkout at cbs and abc
the magnitude of the damages caused by the earthquake is gigantic president leon febres cordero said after inspecting the damages in napo the hardest hit jungle province 100 miles from here
the gao then decided to re examine the costs sources said
crazy eddie inc said its board has adopted a defensive shareholder rights plan and said it has received friendly inquiries on its acquisition
the further progress of our business will depend largely on the extent to which threats to free trade materialise and on the developments of exchange rates raw material and energy costs
g 7 issues statement after meeting
us selling 17 billion dlrs of 9 20 day bills
giant bay gbylf in idaho gold venture
the issue is guaranteed by schallplattentruhe a
we do need to do something with those currencies or we will be substituting japanese products for taiwanese products or those of other nations with currencies tied to the dollar baldrige told a house banking subcommittee
czarnikow expects lower european sugar output
unocal said it raised its postings for crude oil by 50 cts a barrel effective june 17
analysts do not expect regulatory hurdles because of the royal dutch shell group precedent
qtr ends march 31 shr one dlr vs 76 cts net 119 mln vs 8929000 six mths shr 192 dlrs vs 143 dlrs net 228 mln vs 168 mln note full name of bank is washington federal savings and loan association
the dividend is payable april one to holders of record march 18
six of the seven muscle cuts evaluated in the study averaged 43 pct fat or less well below american heart association guidelines for recommended foods
you will certainly see substantial growth in allied lyons in the second half holden brown said following a presentation to toronto securities analysts
proposed japan tax may dampen tokyo gold trading
it added that an additional 500000 shares is for overallotments
it had called for substantial new commercial bank lending and development bank aid in order to help debtor countries grow out of their economic troubles
pay date is april 15
net 3563000 vs 2821000 sales 3186 mln vs 3054 mln year net 28950000 vs 20167000 sales 122 billion vs 117 billion note company is a subsidiary of bayer ag of west germany
northview corp novc year net
the cyprus vessel fearless 31841 tonnes dw which was on fire grounded then towed to yantai china in august had all its cargo reloaded but the cargo in the no
further pressure from a protectionist us congress for a lower dollar is also limiting washingtons options they said
it said the price is based on diversifieds estimated 32 mln dlrs pro forma pre tax earnings for 1986 after adjustment for certain non continuing expenses
the ecs executive commission said in a statement spending on its so called social fund would rise to 31 billion european currency units from 25 billion ecus in 1986
philippine finance secretary jaime ongpin starts negotiations with the countrys 12 bank advisory committee in new york tomorrow buoyed by an economy on the mend and political stability one year after president corazon aquino took power central bank officials said
geoffrion leclerc inc in reporting sharply higher earnings for the six months ended february 28 said it expects third quarter results to continue at a strong pace and approximate the preceding quarters
products eligible for the new blanket exchange permit scheme include tea bags cigarettes coffee leather various textiles chemicals pharmaceuticals plastics engineering and electronic goods ready made garments processed food sports goods fabricated mica and consultancy services
the company said subject to contigencies including future sales and profit levels mcdowell could over a four year period acquire 100 pct of interpharm in exchange for up to 51 pct of mcdowells voting stock
at the end of two months he added i can say we are off to a good start for 1987
however beginning with the fourth quarter of 1985 our improved performance is proof that our approach is correct for the long term the k mart chairman said
a statement said the acquisition would fit perfectly into its package for the banking and securities industries
but his hopes for quick passage of the budget in time for his trip have been shattered by a parliamentary boycott by opposition parties protesting over the sales tax plan
defense secretary caspar weinberger said on saturday the attack on a us flagged ship in kuwaiti waters on friday was almost certainly by an iran silkworm missile
that is 80 basis points more than the yield of comparable treasury paper
portuguese trade deficit narrows in 1986
south atlantic financial corp soaf 4th qtr
barreto said there was no reason to exclude any operator whether public or private from the tenders
accrued interest will be added in each case
he has set a goal of 73 mln dlrs in internal savings and we need to get at least 20 mln dlrs of that savings in 1987 blackburn said
it earned 11 mln us dlrs pre tax in its last reported full year 1985 and 60 mln in first half 1986
the company also said it will redeem warrants till outstanding on june two at 10 cts each
harris ups centerre bancorp ctbc stake
swiss sight deposits rise 7437 mln francs
shr 67 cts vs six cts net 16 mln vs 131630 revs 65 mln vs 45 mln year shr 85 cts vs 19 cts net 20 mln vs 427749 revs 251 mln vs 174 mln note 1986 net includes 14 mln dlrs in tax loss carryback
the municipality of metropolitan toronto is issuing a 75 mln canadian dlr eurobond due may 7 1997 paying 8 3 4 pct and priced at 101 1 8 pct lead manager wood gundy inc said
only banks may be commissioned to handle the clerical business of principle payments they added
usda accepted algerias bid of 9400 dlrs per tonne c and f for 50000 tonnes for nov 10 25 shipment and 25000 for nov 20 dec 10 the sources said
the report said securities firms should be more rigorous in restricting sensitive information on a need to know basis it said firms should train their employees to understand the need for confidentiality of market sensitive information
petrobras asks army to withdraw troops
us bank net free reserves 644 mln dlrs in two weeks to feb 25 fed says
qtly div 13 1 2 cts vs 11 1 2 cts prior pay june 15 record may 22
franco german parley fails to unblock farm talks
anticipated higher energy and raw material costs combined with current market trends were cited by the company as reasons for the increases
he also said that in a paper not yet published the drug was shown to prevent a flare up of ulcers for a longer period of time than tagamet made by smithkline beckman corp skb other drugs in searles pipeline include tissue plasminogen activator tpa made by a different process than genentechs gene tpa expected to be approved for marketing this year
huh sun yong who will attend the talks with three other seoul government officials told that seoul was positively considering buying a certain amount of alaskan oil beginning this year as part of our governments overall plan to reduce a widening trade gap between the two countries huh said however that south korean refineries considered the alaskan oil economically uncompetitive
dist nine cts vs nine cts prior payable may 14 record april one
when trading restarted they dropped sharply to 393p
sergey frolov chief economist at amtorg trading corp an agent for soviet trade organisations and industries told a us ussr business meeting the soviet union produces few items that western nations want
the group offered 1150 dlrs and one dlr of 10 pct preferred stock per calny share
conseco said the acquisition would raise its assets to 27 billion dlrs and annual revenues to about 800 mln dlrs
ussr exchange rates soviet state bank effective april 8 1987 roubles per hundred unless stated us 6385 6360 stg 10347 10256 bfr 1000 1690 1701 dmk 3506 3543 dfl 3100 3120 lit 10000 491 494 can 4885 4879 dkr 928 932 nkr 938 934 ffr 1052 1059 skr 1006 unch fin mrk 1420 unch sfr 4203 4233 yen 1000 437 434 aus sch 498 501 aus dlr 4477 unch pak rup 374 unch ind rup 510 unch irn ryl 088 unch lib din one 209 unch mrc drhm 778 unch
dharyono said the aice will send delegations to the us and japan to brief indonesian embassy officials there and press them to present indonesias case more firmly
brunswick corp bc sells notes at 8199 pct
the pound closed at 11825 11875 against the dollar compared to yesterdays close of 11560 11580
according to the sources the boards financial problems have been aggravated by long delays in processing export receipts
the committee had originally been due to meet in vienna this week
on existing loans at that date the measures would apply to interest arising from april 1 1988
imports rose in real terms by 51 pct against february 1986 while exports rose by a real 46 pct the office said
mcgraw hill inc said it bought medecines et sciences internationales sa a french healthcare publisher from harper and row publishers inc
icn pharmaceuticals inc has about 500 mln dlrs in cash and another 150 billion dlrs in available credit which it intends to use to buy a pharmaceutical company chairman milan panic said
healthvest a maryland real estate investment trust said it began selling five mln shares of common stock at 21 dlrs a share
analysts and portfolio managers said they viewed texacos bankruptcy filing as a defensive move
bank fuer gemeinwirtschaft ag bkfgf year 1986
economic spotlight dutch exchange rate policy
in february borrowings from the private sector by non bank financial intermediaries rose by 10 pct compared with januarys 02 pct increase and the previous february rise of 17 pct
britains gold and currency reserves showed an underlying rise of 1785 billion dlrs in march after a 287 mln dlr rise in january the treasury said
bundesbank deputy president helmut schlesinger said the west german central bank had no plan to cut its three pct discount rate nihon keizai newspaper reported
shr 75 cts vs 55 cts net 8031000 vs 5819000 nine mths shr 216 dlrs vs 142 dlrs net 232 mln vs 151 mln assets 341 billion vs 284 billion deposits 254 billion vs 219 billion note 1987 nine mths includes gain 1008000 dlrs or nine cts per share from utilization of prior years net operating loss carryforwards
medar inc mdxr 4th qtr dec 31 loss
maxtor said the purchase reflects its desire to compete in the high capacity segment of the pc market
in addition to purchase a majority of the brescia italy based company stanadyne said it acquired a minority interest in ambacs us operation headquartered in columbia sc
national bancorp inc nibca year end loss
proceeds of the sale will be used to reduce debt incurred in the purchase of the arnold foods and old london specialty baking businesses and the stock repurchase program that was part of the restructuring
great atlantic and pacific tea co gap 4th qtr
a spokesman for sun chemical was not immediately available
lloyds said the 200000 dwt vessel is carrying about 180000 tons of ore
us officials have said iran has new chinese made anti ship silkworm missiles which pose a greater threat to merchant ships than missiles used before
the company said the split was necessary in preparation for an offering of 25 mln dlrs in convertible subordinated debentures expected to be made soon through kidder peabody and co
it said periodic face samples indicate an average grade of 105 ounces per ton of ore ranging from a low of 078 ounce per ton to a high of 558 ounces per ton
to2727days arre27st came a2727fter narly two years of joint27 investigation by the public prosecutors and police who 27had questioned about 3000 of2727 the firms former employees27 police sou27rces 2727said
us bank discount borrowings 310 mln dlrs
colombia denies selling coffee below market
they want to focus on the deal and they wanted the banks to focus on the deal one source said
spanish property firm renta inmobiliaria sa is negotiating to buy the property assets of us media company cannon group inc can rentas finance director jose luis sanchez said
woolworth holdings plc wlukl which earlier announced a 1986 pre tax profits rise of 42 pct over 1985 said its prospects for growth were very exciting
sumita also said the economy will show a gradual upturn in the second half of the year if the yen remains stable
mostly clear skies extended from the great lakes and ohio valley through the central appalachians to the central atlantic coast and new england
industry sources said the new entitlements considerably higher than the previous limits are also more flexible because holders of new permits no longer need to frequently apply to rbi for release of foreign exchange for export purposes
former treasury official c
the company said the systems will be used in the c 17 military transport program
the company said proceeds from this sale together with the sale of the remaining coal assets should allow it to fully recover its investment in the operations
the semiconductor industry association urged the us government to impose trade sanctions against japan for violating the us japan semiconductor trade agreement
if after a party acquired 20 pct or more of its stock crazy eddie were acquired or 50 pct of its earnings power or assets sold rightholders other than the acquirer would be entitled to buy shares of the acquirers common stock worth twice the rights exercise price the company said
british gas plc brgsl said it repaid 750 mln stg debt to the government the first tranche of 25 billion stg unsecured debentures issued as part of the process of privatisation last year
bolivia is to make a formal offer during the next few months to buy back its 900 mln dlrs debt from commercial banks at a discount of up to 90 pct central bank president jier nogales said
the company said it may sell the securities through underwriters who may include goldman sachs and co or directly to other purchasers
the private sectors downturn began in earnest in 1983 as oil prices slid and some companies were slow to react businessmen said
mrs fields plans to open more stores
deregulation will mean more pricing discounts for large volume users but status quo for residential users said painewebber group analyst jack grubman
platinum was fixed this morning at 58350 dlrs an ounce up from fridays close of 57850 58050 and also the highest setting since october
the grain sorghum harvest was the least affected by the rains advancing steadily in santa fe and cordoba and starting in la pampa to cover 14 to 16 pct of the total area sown
institute of international finance managing director horst schulmann said that his orgnaization has been forecasting further declines of interest rates in the first half this year and then a levelling off and there is no reason to change that
jp morgan and co inc jpm sets quarterly
danforth said he continues to see value in a merger between westinghouses radio operation and those of nbc
wladyslaw baka head of polands national bank told the official news agency pap yesterday the talks were a step towards possible fresh credits or easier terms
domestic demand may grow nearly four pct in 1987 88 but the external sector will have a negative impact on gnp of nearly one percentage point he said
shr 21 cts vs 11 cts net 638000 vs 340000 sales 169 mln vs 147 mln avg shrs 3007048 vs 3006250 1st half shr 41 cts vs 41 cts net 1224000 vs 1142000 sales 311 mln vs 298 mln avg shrs 3006704 vs 2757631 note current year net both periods includes nonrecurring gain 213000 dlrs
the company said it has the option under the agreement to fund the borrowings at the prime reate or at rates related to certificates of deposit or london interbank borrowing rates
for example pork would be listed on the ingredients statement instead of mechanically separated pork under the petition the calcium content of the meat product would have to be stated on the label and the mechanically separated meat could constitute no more than 10 pct of the meat and poultry portion of the product
people are hungry for yield
hong kong february trade swings into deficit
monier was trading at 280 dlrs when csr launched its original bid of 350 or 168 times earnings in late april
the bentsen proposal supported by 24 other senators would would require the president to issue annual three year oil import forecasts
the trade deficit in the first four months fell to 164 billion schillings from 175 billion in the same period last year while in april the deficit was 41 billion compared with 69 billion in march and 36 billion in april 1986
several of those ministers criticised the ec for what they saw as restrictive agricultural trade practices and called for urgent reforms
at the height of domes success in 1981 common traded at about 25 dlrs a share
bryson has request detailed shareholder information from cenergy in case it decided to communicate with shareholders
traders said there was no apparent effect of the texaco filing on crude futures trading although they said the exchange might lower texacos position limit and require higher margins for texacos trades
the company also said that new capacity brought onstream last year replaced 120 pct of mobils production which declined by about four pct in 1986 from the previous year
but dealers said the federal reserve bank of new york gave traders a sharp reminder that the g 6 pact had encompassed the idea of limiting inordinate dollar gains as well as declines
1986 qtr includes pretax gain of five mln dlrs from settlement of litigation and tax gain of 51 mln dlrs from change in estimated effective tax rate
hecla mining co said it has agreed to purchase a 28 pct interest in the greens creek joint venture from british petroleum co plcs amselco minerals inc unit
the eln demands the government charge the penalty
he was referring to the meetings of finance ministers from the group of seven g7 leading industrial nations which reaffirmed the pact
us bancorp oregon said it has been advised orally that its application for the acquisition of old national bancorp has been approved by the board of governors of the federal reserve
asked if the us federal reserve board agreed in paris last month to intervene to stabilise exchange rates miyazawa said yes the sources said
february housing starts were up 168 pct from 93554 in january when they fell 274 pct from a month earlier but rose 103 pct from a year earlier
us gold eagle sales projected at 31 mln ounces
german economic outlook seen fairly bright
sun hung kai co ltd year 1986
total holdings of us savings bonds reached 9476 billion dlrs the highest in the history of the program the treasury said
terms were not disclosed
norwegian central bank reserves fall in may
magma lowers copper price 025 ct to 6550 cts
nevertheless gurria said mexico does not expect to draw on the commercial banks 12 billion dlr investment support contingency facility
we have in fact been making adjustment loans to many countries in the developing world which have encouraged the opening of their markets and we want to be sure that the developed world doesnt close at the same time he said
proposed offerings recently filed with the sec
baker says g 6 pact just a start
coffee deliveries to the state run coffee board of kenya rose 17 pct and tea deliveries rose four pct during the period he said
market welcomes lower australian payments deficit
the loss in the quarter was 2323 mln dlrs or 675 dlrs against income of 107 mln dlrs or 31 cts a year ago
the trade bill will be wrapped in with legislation from other committees dealing with relaxation of export controls incentives for research expanded worker training and education and other efforts to increase us competitiveness
pay n pak stores inc pnp 4th qtr feb 28 net
us wheat credits for jordan switched
kraft kra completes frostex acquisition
theres a lot of comfort in knowing youll be guaranteed the governments loan price of 5225 cents a lb
sosnoff said the talks with pratt and southmark are not being actively pursued at the presentand may or may not be continued in the future
further details were not disclosed
however for some 10 pct of new requirements the bank would try out new instruments such as bonds with warrants
general partners controlled by privately held wagner and brown and by afg industries inc said it has started a tender offer for all common shares of gencorp inc and associated defensive preferred share purchase rights for 100 dlrs a share
in a filing with the securities and exchange commission zinn said the demand for the shareholder list was made on june 26 because he may desire to communicate with other crazy eddie shareholders regarding the affairs of the company
hazelhoff speaking at a press conference after the release of abns 1986 results said a sharp decrease in foreign earnings had been compensated by a strong domestic performance notably in the securities business
pillsbury said it expects the offering to yield 73 82 mln dlrs resulting in an after tax gain of 20 23 mln dlrs
ferro corp said it has formed a joint venture with paris based alsthom inudstrial group to export us epxertise in specialty composite materials to the european market
late season rains damaged soviet crops slowed harvest progress and lowered soviet production analysts said
detroit edison said the bonds will be offered to the public this year and next with the first bond sale scheduled for early next month
protectionism is not found only in the us
shr loss not given net loss 1300000 sales 3300000 note company incorporated in june 1985
the bank of italy took up 500 billion lire of the offer leaving 1073 billion lire unassigned
soviet tankers set to carry kuwaiti oil
the intervention backed by remarks by fed chairman paul volcker and japanese central bank governor satoshi sumita which a few months ago would have brought the dollar fall to a halt has done little but slow the rate of its decline they noted
the benchmark is based on short term interest rate movements while the base rate is tied to longer term trends
this will raise indonesias investment ratio to about 40 pct from the current 25 pct
diceon said symtron management would continue running the business which would become a wholly owned subsidiary
based in salt lake city commercial security ended 1986 with assets of 8303 mln dlrs net loans of 4966 mln dlrs and deposits of 7079 mln dlrs
natural gas exports fell 163 pct in the month 251 billion cubic meters and canadian sales eased 102 pct to 525 billion cubic meters
exports of crude and products in the first four months were around 2561 mln dlrs compared with 4033 mln in the same period in 1986
the five leading west german economic research institutes said the government should do more to stimulate economic growth and called for early introduction of tax cuts planned for 1990
he said first central financial would not itself be an easy takeover target
a weak dollar a lower tax rate and strong mainframe computer sales all contributed to the better than expected first quarter results analysts said
he said there were positive signs of growth in the economy particularly the drawdown of business inventories in the fourth quarter
1985 restated
shr loss 11 cts vs profit six cts net loss 217200 vs profit 83200 revs 3564200 vs 3171900 avg shrs 2033750 vs 1334950
while increasing banners size and diversity s and p said the transaction heightens financial risk with debt to capital rising to more than 90 pct
instead he argues banks should either be required to hold a percentage of the face value say one pct per year to maturity or to hold a percentage of the cost of replacing the contract in the event of a counterparty default
an orders decline in the steel and in particular the trading and services sectors affected the groups total order figures
but many said they did not expect the proposals to lead to higher prices in the industry simply because of the competition the phone industry giant faces
an inconclusive meeting here march 22 between central bank governor francisco gros and brazils bank advisory committee can only have stiffened that resolve
the department said no domestic poultry are involved in the outbreak
raycomm transworld racmo to make acquisition
mitsubishi bank ltds hong kong branch is planning a 40 mln new zealand dlr certificate of deposit cd issue banking sources said
the combination of former archrivals republicbank and interfirst giving the two banks a virtual lock on the dallas banking market has not changed texas commerces expansion plans for the states second largest city love said
shr loss 48 cts vs loss 10 cts net loss 1234000 vs loss 259000 revs 715000 vs 1941000 year shr loss 126 dlrs vs loss 34 cts net loss 3229000 vs loss 870000 revs 3001000 vs 9767000 note 1986 net both periods includes 672300 dlr writedown of value of seismic laboratory and 165000 dlr increase in reserve for doubtful accounts
county savings bank said its board declared a five pct stock dividend payable april 10 to shareholders of record today
the dollar is expected to try its psychological barrier of 15000 yen and to fall even below that level a senior dealer at one leading bank said
bergsten predicted the us trade deficit which hit 169 billion dlrs last year will fall 30 40 billion dlrs a year for the next two years as a result of the dollars 35 40 pct decline since september 1985
the company was commenting on 1986 results which showed pre tax profit rising to 549 mln stg from 334 mln previously on turnover that lifted to 170 billion from 113 billion
nichols institute lab 1st qtr feb 28 net
however most said this had not occurred
pennzoil had asked texaco to post a 56 billion dlr cash bond and to reduce its dividend to not more than 50 pct of earnings
you do not have those concerns with canada and you should sincerely consider exempting our country from that bill he added
the floaters have average lives of 785 and 156 years for maturities of 2012 and 2015
s p may downgrade clark equipment ckl 
convenient food mart inc cfmi 4th qtr net
the senior bank official said he expects japans gross national product gnp to grow three pct or slightly more in the fiscal year beginning in april
meanwhile us japanese diplomatic manoeuvres to solve the trade stand off continue
demarkus sales were 470000 dlrs in 1986
republic pictures corp rpica 4th qtr loss
echoing gavirias words jorge cardenas manager of the national coffee growers federation said colombia sought to adapt its coffee marketing policy to circumstances
analysts also said the company has other interests in the alaskan north slope
the negotiations resume in new york on friday when central bank governor francisco gros is expected to ask banks for a 90 day rollover of some 95 billion dlrs of term debt that matures on april 15
moniers independent directors have recommended etls bid
more
cotton planting progressed well in the lower valley coastal bend and along the upper coast of texas
preussag says payment of a 1986 dividend not certain
the deal has two sponsors who assist in the placement interallianz bank zurich ag and nivison cantrade ltd a small uk trading firm that formerly was broker r
general acquisition co said it was disappointed by gencorps response to its tender offer and asked how the company might give better value to shareholders
the cost of this approach is that the much needed revival of business investment will be further postponed it said
the new credit agreement signed in january was originally to last 15 months but the government now says it will go for one year beginning this month
transamerica ta unit buys reinsurance unit
the marginal rise reflected slight growth in demand for poultry raising and a moderate increase in demand for beef cattle raising ministry officials said
blue circle profits dividend rise
bell petroleum bpsio regal to form plan
it would be his role to persuade international banks to cooperate in this process
the mexican restaurant franchisee reported a net loss of 415493 dlrs for the six months ended november 30 1986
however amstutz added that the united states would not be willing to discuss wheat prices with moscow if the issue is being cheap asked later by a reporter what he meant by the distinction between competitive and cheap amstutz would not elaborate
the belief that economic liberalism will produce an explosion of economic forces is ideological said indosuez chief economist jean cheval
m a com mai expands buyback names president
president reagan opposes protectionist legislation but agreed to support a trade bill when it became apparent that opposition democrats would pass such legislation
a spokesman for the bundesbank in frankfurt said the central bank would also not be represented
the banks will not rush to raise their prime rates
fc beatty of us packer john morrell and co told the japan times beef cuts which sell for 120 to 300 dlrs a pound in the us are sold at 15 to 30 dlrs in japan
residents in spain can now borrow freely in foreign currency up to the equivalent of 15 billion pesetas against a previous ceiling of 750 mln pesetas
japans seasonally adjusted unemployment rate rose to a record 32 pct in may the worst level since the government started compiling unemployment statistics in 1953 the governments management and coodination agency said
us factories used 10530 mln lbs of various vegetable oils in the production of edible products during february the census bureau reported
philippine coffee exports are expected to fall sharply due to a combination of the international coffee organisations ico decision not to revive export quotas and higher local prices ico certifying agency official dante de guzman told 
the six underwriters will be joined by 11 other financial institutions in the tender panel
dollar general corp dolr qtly dividend
sri lankan bank offers 250 mln rupees t bills
dudley taft and his family have owned 12 pct of the company
bank of japan governor satoshi sumita said the present foreign exchange market instability will not last long as there is caution in the market regarding the rapid decline of the us unit
the lay offs represent about two thirds of the original workforce
we did not ask any country to do anything
amertek inc atekf 1st qtr net
coffee talks collapse eases need for us bill
new york business loans drop 572 mln dlrs
the april japanese government 10 year bond coupon has been set at 47 pct against five pct on the march bond
ussr heavy buyers of yugoslav corn us report
todays announcement follows saturdays removal of import curbs on 170 products
factory consumption of inedible tallow and grease in february was assessed at 2383 mln lbs vs a revised 2504 mln lbs a month earlier and 2205 mln lbs in the year ago period
the company did not name an underwriter for the sale
rohm and haas co roh 3rd qtr net
italian sowings are not yet complete but surveys suggest a drop from last years 270000 ha especially in the north where some farmers have switched to soya
the previous record low was 3383 pct at the last auction on february 12
the spin off and the sale of hongkong electric shares will give hutchison a 53 pct stake in cavendish
schlumberger would not have terminated the deal because the us government didnt want it said johnson of lf rothschild
the reserve bank of australia said it would offer 500 mln dlrs of 13 week treasury notes and 200 mln dlrs of 26 week notes for tender next week the bank said it would take up 300 mln dlrs of the 13 week notes at the average yield
economists have been cutting growth forecasts recently mainly due to expectations of a poor export performance this year notably to eastern europe and oil exporting states
at the frankfurt fixing on tuesday the dollar was quoted at 17918 marks compared with 17740 on monday
the company also announced the formation of rare tech minerals inc a wholly owned subsidiary
the union will also take its case against the redundancies 350 of them planned for this year to a court in amsterdam tomorrow he added
japanese firms are becoming more aggressive now he said
moodys also cited significant litigation against people
the public offer by glaverbel sa europes third biggest glassmaker of 755000 shares was more than 100 times oversubscribed a statement by banks and share dealers responsible for the issue said
metro funding shareholders approve merger
winnebago industries inc wgo 2nd qtr net
afg has ba 1 senior subordinated debt and ba 2 convertible subordinated debt
the 500 mln dlrs of 364 day bills were priced at an average 92969 dlrs against 93159 dlrs last week to yield an average 758 pct versus 738 pct last week
today purolator revealed in a filing with the securities and exchange commission that director doresy gardner resigned from its board of directors in a letter dated march 10
at the height of the stoppage seamen said about 200 ships were strike bound
qtly div 65 cts vs 65 cts prior pay may seven record april seven
dauster said there are no plans yet to renew negotiations at a later date
qtly div 35 cts vs 35 cts prior pay april one record march 14
if anything the negotiations have become much more confrontational with the debtor countries pressing for more concessions arguing that they face growing political instability if they are asked to do or pay more
shr 78 cts vs 87 cts net 1593 mln vs 1749 mln revs one billion vs 106 billion avg shrs 204335958 vs 200471561 nine months shr 218 dlrs vs 236 dlrs net 443 mln vs 4696 mln revs 32 billion vs 34 billion avg shrs 203375222 vs 199108842 12 months shr 173 dlrs vs 244 dlrs net 3519 mln vs 4815 mln revs 43 billion vs 45 billion avg shrs 202900311 vs 197320979 note full name public service enterprise group inc all results reflect three for two stock split effective july 1 1987
the banks rejected the original pins proposal last friday but ongpin presented a revised proposal on monday which sought to satisfy the banks objections by guaranteeing that the notes would yield 7 8 pct over libor in cash
shr 336 dlrs vs 333 dlrs net 16173000 vs 10603000 sales 4208 mln vs 2761 mln avg shrs 44 mln vs 32 mln note 1985 net includes tax credits of 69 mln dlrs or 219 dlrs a share
but reforms including upgrading the quality of goods and allowing joint ventures with foreign firms will encourage modest export gains in future
neyra told peru was current on interest payments on short term debt including trade credit lines and on about 750 mln dlrs in so called working capital credits
but rounding up free rider banks entails such a huge drain on management resources that more and more bankers are acknowledging that the syndicates may have to shrink
chrysler c values amc amo at 757 mln dlrs
the omb is said to be against any expansion of the program while usda remains firmly committed to it
bentsen urged mulroney to withdraw a proposal that would ban imports of independently produced films into canada by non canadians which the senator called a protectionist measure
the company currently has 14 mln shares outstanding
immediately before the march quake ecuadorean production was 250000 260000 bpd with 144000 bpd exported
current season cumulative movement was 79516753 gallons versus 76919119 last year
wall street professionals said they were not convinced of the story or that edelman and dominion would be the victors if burlington actually came into play
gemini food corp six mths january 31 net
shr 42 cts vs 35 cts net 854000 vs 839000 revs 232 mln vs 219 mln
west german president richard von weizsaecker called on creditor banks to ease pressure on argentinas foreign debt repayment terms
arden group ardnao plans issuer tender
hanson trust plc hnsnl said its us subsidiary hanson industries inc is to sell pcr inc a speciality chemicals unit for 625 mln dlrs cash to chemical partners inc pcr had sales of 132 mln dlrs in fiscal 1986 and an operating loss of 381000 dlrs
comalco ltd cmacs 1986 net
results include 647 pct stake in pacific lumber co from december 1985 through february 1987 and 100 pct thereafter
the bank is the first to lower its prime rate below the 18 pct set by a few banks in the last few days in a continuation of a downward trend which began late last month
west texas sour was also raised by 50 cts to 1700 dlrs a barrel
nazer said opec estimated demand for its oil during third quarter this year would be around 166 mln bpd
the agreement between the two companies calls for a 50 50 joint venture in london focussing on investment advisory asset management market research and consulting on financing
fiat unit fidis reports sharply higher 1986 profit
fcs said that if various aspects of the proposal are better defined its board may consider it
the business was for april shipments and comprised 20000 tonnes of european rapeseed oil at 318 dlrs 20000 tonnes of soyoil believed south american origin at 314 and 6000 tonnes of malaysian rbd palm olein at 347 dlrs all per tonne cif
partly offsetting these outflows exchequer transactions and a fall in note circulation will add some 200 mln stg and 50 mln stg to the system respectively
clayton and dubilier is a new york based private investment firm which has completed two other management led buyout transactions since december 1986
gordex said the expansion of the cape spencer facilities is intented to enable it to operate 24 hours a day throughout the year
the bid is woolworths second attempt in recent months to acquire a retail chemist chain
particularly for the banks recent developments in international financial markets give rise to the question whether the swiss financial system which has shown substantial flexibility in the past is adapting itself at the speed required to preserve its competitive position it said
philips electrical sells stake in unidare
wr grace and co said it has agreed to combine its cocoa processing businesses with those of s
soybean meal imports are forecast to fall to around 190000 tonnes in 1987 88 from 270000 tonnes in 1986 87 and 295000 tonnes in 1985 86
oper shr 45 cts vs 26 cts oper net 2258000 vs 1166000 note 1986 net excludes 842000 dlr tax credit
tunisia is expected to tender shortly for 100000 tonnes of soft wheat for shipment between april and june covered by coface export credits trade sources said
gunnar gold gggto in venture agreement
consumer goods prices rose slightly
repayments were inevitable and many countries would find their net repayments to the imf rising in the next few years
options business has been hurt by lack of liquidity from pension funds which currently are forbidden to invest in these instruments
oppenheimer the brokerage and investment subsidiary of oppenheimer group inc told the securities and exchange commission it sold its entire 60 pct stake of cyclops corp
science dynamics corp sidy year net
in february 1986 m a coms former chairman president and chief executive richard dibona suffered a stroke
el paso electric co said it has agreed to limit rate increases in its new mexico service territory to a maximum of nine pct over the next three years
the great northern nekoosa corp said it will recommend to shareholders a two for one common stock split
its been a long time since i was deluged with as much information as i have been
the administration has said it could not support a trade bill containing such a provision
bank of japan intervenes just after tokyo opening
control data said the divestiture was part of its strategy to focus on narrower markets
the central bank will have 10 days to decide whether to issue the required foreign exchange
that i think was partly due to statements that have been made by senior figures on the other side of the atlantic it was a dispute that should never have happened he added
bayer said that the decline in world group turnover to 4075 billion marks from 4593 billion in 1985 reflected mainly the sharp fall in the dollar against the mark
around 200 corporations satisfy financial standards set by securities houses for non collateral straight bond issues including electric power companies nippon telegraph and telephone corp and kokusai denshin denwa co ltd securities managers said
economic spotlight kuwaiti economy
the spot riyal was steady at 37500 03 to the dollar after quotes of 37498 7503 yesterday
ongc has been exploring the bombay offshore area developed since the late 1970s for more oil as production from bombay high has reached a plateau
the dividend is payable april 15 to holders of record on april 3
the pound closed on thursday at 40700 41200 to the dollar compared with wednesdays close of 38400 38600
sea containers ltd scr 4th qtr loss
baker urges banks to mull new loan plans
nerco inc said it has agreed to acquire a 47 pct working interest in the broussard gas field in southern louisiana from privately owned davis oil co for about 225 mln dlrs in cash
gsw inc year net
belgian wholesale prices fall in january
at the moment all the action is taking place in new york and tokyo one said
city resources also said previous dredging was only carried out to a depth of 36 metres and high grade gold values are reported to at least 60 metres in the central part of the bulolo valley and possibly as deep as 90 metres
and joseph g
the cmos were assigned a 765 pct coupon and par pricing
the survey found that with the virtual elimination of commissions the improved market liquidity has encouraged investors to deal more frequently in the market
cardis cds expects significant year loss
hj heinz hnzn chairman tony oreilly would be interested in buying guinness plc guinl s brewery division if it were for sale a spokesman said
the bank of nova scotia nassau branch is issuing a 50 mln new zealand dlr eurobond due april 14 1989 carrying a 18 1 4 pct coupon and priced at 101 pct lead manager morgan stanley international said
a 25 pct share in sabena would be sold in mid 1989 for 15 billion francs while 50 pct of the postal and telecommunications authority would be sold off in two stages in mid 1990 and early 1992 raising at least seven billion francs
the situation was particularly bad in the central asian republic of kazakhstan which has been severely criticised since the ousting of its veteran leader dinmukhamed kunayev last december
rbi said under the new rule 16 other products will qualify on a discretionary basis for overseas promotional spending of not more than two pct of the freight on board value of annual export earnings
alcan raises aluminum prices two cents a lb
this would help achieve lawsons lower than expected consumer price inflation target of four pct at end 1987 he said
arbitragers said the stock is a risky buy at current levels unless an offer was accepted in the 170 dlr per share range
the package includes 84 mln dlrs of cmos with an average life of 11 years priced to yield 688 pct and 235 mln dlrs of bonds with a 55 year average life and eight pct return
lotus development corp said it has signed a letter of intent to acquire substantially all of the assets of computer access corp for undisclosed terms
the countries of latin america have too much debt relative to their ability to service it said john mason of interstate securities
in a letter sent yesterday postal minister shunjiro karasawa told us commerce secretary malcolm baldrige that the ministry does not object to foreign participation by those us firms that have expressed interest
it also said rafael collado has assumed the positions of president and chief operating officer in addition to his role as chief executive officer
us citrus crop estimate usda
but bundesbank officials noted that a news conference was usually called when the council meets outside frankfurt and did not necessarily herald any policy moves
roto rooter inc rotoo 3rd qtr net
capital formation strengthened in february and slowed money supply growth to a larger extent than in january
the sankei shimbun quoted sumita as saying in an interview it reagan bond is a very feasible idea speaking in the context of the effectiveness of such bonds in halting the dollars decline
brown and sons inc
after the announcement the companys stock retreated closing at 93 7 8 up 1 3 8
my only response is that we have gone through about five years with the dollar going in just the opposite direction
the federal reserve has to be pleased with this report carson said
west german officials are likely to emphasise at the venice summit that domestic demand which draws in goods from abroad is already outstripping export performance which has suffered from an 80 pct rise of the mark against the dollar in just over two years
qtr and year 1986 excludes tax loss 1557000 and loss 151000 respectively
in an unusual move standard and poors corp downgraded a us corporate debt issue soon after it was priced for offering late last week
the overall balance showed a surplus of 48 billion after 26 billion in 1985
coastal corp said it belives the two billion dlr suit against it by transamerican natural gas corp in texas state court is frivolous and without merit
earlier the central bank had estimated the deficit in the system today at some 450 mln stg
cbs issues 400 mln dlrs in convertible debt
he gave no precise sum
english said wppss had no indication when the sec might meet on the staffs recommendations
but price increases slowed sharply for gasoline and home heating oil the department said
but i really think the chances of that happening are between slim and none he added
thomson grand public the subsidiary of thomson sa thmppa has taken over the audiovisual consumer goods division of british group thorn emi thomson grand public chairman pierre garcin said
garcia was scheduled to return to lima tomorrow
the failure could be a blessing in disguise for fujitsu as it might have had to spend several hundred million dollars to modernise fairchilds production lines capels murtha said
trade sources say prices might boom once again if the crisis leads to output below the 1987 target of 143000 tonnes
speaking in a televised news conference linking several european capitals shultz said it was heartening that the japanese had confronted the problem of stimulating domestic and global demand
and if we starve the nation of essential services there may be no one around to honour the debt aquino said her officials would try to get all 483 creditor banks to sign the debt rescheduling pact by the november 15 effective date
bankers and diplomats said the government is well aware of the risks attached to this policy but is determined to tough it out on the oil front even if that means a short term depletion of reserves
in a move to toughen us enforcement of trade laws a key house subcommittee last week approved a toned down version of legislation to require president reagan to retaliate against foreign countries that follow unfair trade practices
proven reserves as of december 31 1985 were 978000 tons grading an average of 0194 ounces of gold a ton equivalent to about two years future production
aquino said the countrys foreign debt which rose to nearly 29 billion dlrs in april was growing even without fresh borrowing
canadian pacific ltd said it retained wood gundy inc to seek a buyer for maple leaf mills ltd of toronto
revlon group agrees to merge with macandrews and forbes group for 2010 dlrs shr cash
prices for edible oils appear to have more upside potential reflecting strong world demand and an unprecedented decline in the production of tree oils balletto said
total maize area planted for the 1986 87 harvest was estimated at between 358 and 378 mln hectares or two to seven pct less than the 385 mln hectares planted in the 1985 86 harvest
horner said more forceful central bank intervention will firm the dollar and cap the rise in currency futures
the report dated march 27 said many sources have stated that the soviet union was initially interested in purchasing 23 mln tonnes lof corn from argentina
french prime minister jacques chirac told us congressmen france would announce a decision in two to three weeks on which group is to control its second largest communications firm compagnie generale de construction telphoniques french sources said
intermark imi seeks majority pier 1 pir stake
one port a h range dubai 6800 mt bagged sugar 750 750 10 15 4 a c unnamed charterer
qintex said it is extending the offer to allow princeville shareholders to assess the sale announced last week of princeville airways inc to aloha inc alo adding a supplement to the quintex offer further detailing the agreement with aloha will be distributed later today
wall street stocks anacomp inc aac 
capital expenditure on large projects has been cut sharply
gantos inc gtos 4th qtr jan 31 net
s and p noted that extensive cost cutting programs are under way at mack including the relocation of truck assembly operations to a new plant in south carolina from allentown pa
businessland busl sells convertible debentures
high point also sold 666 mln dlrs of cancellable mandatory stock purchase contracts that require the purchase on march 1 1997 of the companys common stock at 23 dlrs per share
among the shares repurchased were two stakes owned by norfolk southern one of 34 mln shares bought in 1986 and another of 17 mln shares in 1985 one analyst said
waree said sayam bank was trying to recall about six to seven billion baht of loans extended by its previous private management and was taking legal action to collect another four to five billion baht of doubtful debts
the redstone equity contribution to the takeover would consist of all of his groups 6881800 viacom common shares and at least 118 mln dlrs cash he said
shr 54 cts vs 49 cts net 702 mln vs 640 mln note share adjusted for two for one split in july 1986
acknowledging that sanctions have lost poland important us markets including agricultural equipment textiles chemicals and some foodstuffs western economists say credits dried up for economic not political reasons
the exchange said delivery will be fob from the sellers pipeline storage or fractionation facility in mont belvieu texas which has a direct pipeline access to the texas eastern transmission pipeline tet in mont beliview
us department of energy secretary john herrington said he was optimistic about the chances of providing a more generous depletion allowance for oil and gas producers but added that the plan faces strong opposition from some members of the reagan administration
but they flatly dismissed suggestions that his departure to the investment banking firm of shearson lehman brothers signaled the baker team was breaking up or that the treasury secretary himself might leave soon
magnetic technologies mtcc sees improvement
concern that a strike by brazilian seamen might interrupt exports of soybeans from brazil where the harvest is just beginning also underpinned prices they said
fw woolworth co z hikes dividend
however he added a scandal at volkswagen ag vowgf vw over currency losses has nothing to do with the timing of the veba sale
careplus cpls seeks approval in acquisition
west germanys imports dropped largely because of foreign currency developments and the cheaper price of oil and led to a record trade surplus last year
the january fall brought home sales to a level 16 pct below january 1986 when they were a seasonally adjusted 728000 units
the bond is available in denominations of 5000 and 50000 dlrs and will be listed in london
pakistan announced a new tea import policy saying 70 pct of imports will in future be made through the state trading corporation of pakistan tcp commerce minister mahbubul haq said in a television broadcast that no more than one third of the remaining 30 pct allocated to the private sector would be permitted to come from any one country
shr three cts vs one ct net 235000 vs 66000 revs 10 mln vs 8202000 avg shrs 7972000 vs 8545000
within six weeks alot of countries could be out of business said one source
saudi arabia bought 4000 tonnes of malaysian refined bleached deodorised palm olein for june 1 10 shipment at around 356 dlrs per tonne cost and freight jeddah traders said
amstutz told reporters following a senate hearing that if the soybean loan rate were 456 dlrs usda could then consider ways to make us soybeans more competitive
ice unchanged at soviet oil port of ventspils
ussr meat and egg production in january rose only slightly from the previous januarys level while milk production increased by nearly six pct
service resources src unit sets purchase
since the government was unlikely to cut expenditure as a percentage of gross domestic product a major tax increase was probably unavoidable bayliss said
delta natural gas co inc is raising 14 mln dlrs through an offering of debentures due 2007 with an 8 5 8 pct coupon and par pricing said sole manager edward d
union miniere takes stake in pancontinental
soviet figures show economy still short of targets
canada has threatened to stop imports of danish pigmeat from july 14 after canadian veterinary inspectors approved only two of 33 slaughterhouses a danish agriculture ministry official told 
asarco lowers copper price 150 cts to 67 cts
oper shr 64 cts vs 52 cts oper net 872272 vs 706836 revs 9271541 vs 7744466 year oper shr 203 dlrs vs 196 dlrs oper net 27827801 vs 2684089 revs 312 mln vs 291 mln note full name is north west telecommunications inc
montedison spa of italy said net consolidated profit for its agrimont group formed in june 1986 totalled 15 billion lire in 1986
last year irish yields were the lowest for 10 years due to late sowings and the state run irish sugar plc said the 1987 plantings target is the equivalent of 36400 hectares down from 37600 in 1986
bastian currently holds 253700 cosmo common shares or five pct of the total outstanding
ctc a group of canadian tire dealers said it expected to know by may 11 if it would obtain approval to appeal a previously reported ontario court ruling upholding a regulatory decision to block ctcs offer
at the same time the edelman group said it cut its stake in morse to 84 pct from 97 pct
new england electric system nes five mths net
because of projected early redemptions to the state of loans by building corporations analysts predict the state has to raise 32 billion guilders on the capital markets this year of which it has found 45 billion guilders on the private placement market
the official figure for 1985 86 is 71 mln tonnes 56 to 99 pct below this seasons new estimates
industrial production fell 07 pct in january much smaller than expected and is forecast by the government to rise 03 pct in february and 26 pct in march
the sale was approved by the west virginia public service commission in january and became effective march one
brazilian sugar industry sources said new sugar export sales were expected to be extremely low for the next year with the institute wary of exposing itself to domestic shortages of either alcohol or sugar and because of the need to rebuild depleted reserve stockpiles
merrill lynchs statement at midday today said the firm will continue to cooperatie fully with authoriteis in the us and london investigating vaskevitchs activities
jp industries said it is not aware of any other reason for activity in its stock
the agreement is subject to the approval of the cotton exchange board which meets tuesday april 7
31 1985
unitrode corp utr 4th qtr jan 31 loss
the figure was 26 pct higher than in december 1985
shr loss 52 cts vs profit 107 dlr net loss 2917000 vs profit 5963000 revs 341 mln vs 403 mln year shr loss 139 dlr vs profit 124 dlr net loss 7749000 vs profit 6946000 revs 1386 mln vs 1862 mln note 1986 net includes certain non recurring charges of about 5506000 dlrs for a number of items
eksportfinans launches eurobond
the department noted the sales are the first reported for delivery during the fifth year of the agreement which began october 1 1987
he said the state owned national aluminium co which owns the plant and the state owned mineral and metals trading corp signed its first long term export agreement with the company but gave no further details
it is expected that provisional entry into force will take at least 12 to 14 months from now delegates said
the debtentures will settle on march 10 1987
also suggested was a deal involving put and call option regarding sosnoffs caesars world holdings he said
in some cases these will be securities related in some cases trust bank related
trade sees steady corn wheat export inspections
comb co said it has acquired the principal assets of national tech industries inc and telkom corp which are engaged in the sale and telemarketing of consumer electronic merchandise and do business as house of imports and nl industries respectively
willis fabers stake in morgan grenfell has been a very successful investment it said
unusually high temperatures have also been reported across china media reports said
the economy grew by 53 pct last year up from 41 pct in 1985 ouko said
oper shr loss 82 cts vs profit 12 cts oper net loss 4134000 vs profit 544000 avg shrs 5030000 vs 3927000 nine mths oper shr loss 80 cts vs profit 32 cts oper net loss 3615000 vs profit 1457000 avg shrs 4557000 vs 3927000 note 1986 net excludes tax loss carryforwards of 105000 dlrs in quarter and 195000 dlrs in nine mths
saudi arabias quota is 4133 mln bpd
it said economic prospects had been less promising over the past few months because of a sharp fall in the value of the dollar and a slowing of world trade factors which would restrain community exports
the gte deal is ubss first this year and the fourth since it won a competitive bidding in june 1986
oper shr profit 21 cts vs loss 213 dlrs oper net profit 456000 vs loss 2454000 revs 163 mln vs 131 mln year oper shr 139 dlrs vs loss 241 dlrs oper net profit 1815000 vs loss 2779000 revs 580 mln vs 438 mln note 1986 4th qtr and yr oper net exclude realized investment gains of 279000 dlrs and 1013000 dlrs respectively which includes provision for income taxes of 238000 dlrs and 863000 dlrs for the periods respectively
the 1992 deadline for abolishing economic barriers within the european community should help french economic growth and create jobs president of the french employers federation cnpf francois perigot said
thai rice exports rise in week to october 13
prices had been unchanged in january giving an annual drop of 46 pct
last week iowa beef said it would lift a lockout in effect at the plant since mid december which affected 2800 members of the united food and commercial workers union
it said prince a lowell mass producer of pasta and italian food sauces is expected to account for 210 mln dlrs of this total
it said unemployment was expected to fall to 675000 this year from 710000 last year
asked if there had been any change in the fundamentals of each nation since the february 22 paris accord he said he did not think the fundamentals themselves had changed substantially
japan panel urges world economic adjustments
another factor which could be delaying the opening of registrations is the current strike by bank workers which while not affecting current shipments could affect documentation and currency operations for new sales
dixons says citicorp to withdraw cyclops offer
the federal reserve entered the government securities market to arrange two day repurchase agreements for system account a spokesman for the new york fed said
3 1987 excludes 423 mln dlrs of interest expenses 416 mln dlrs of acquisition adjusments and 17 mln dlrs of income taxes
it said new plantings had slowed markedly in both countries but the effects of this will not be felt until 1988 90
chase manhattan corp said chase trans info a subsidiary of its chase manhattan bank na unit has bought borg warner corps traffic services business including an illinois processing center for an undisclosed sum
taft shares climbed 19 to 151 1 2 causing arbitrageurs to say investors believe the bidders may raise their price
as a result net income for the first quarter will be reduced by 18 mln dlrs
the agreement would also have limited its ability to buy sgl shares dart said
hawaiian electric said the planned purchase was part of its strategy to increase the companys investment in selected service industries in hawaii including financial services
cumulative sales authorisations for the current season 1986 87 now stand at 2194970 tonnes 43 weeks last week saw 102350 tonnes whites authorised for export under licences to end sep at the higest ever rebate of 46864 european currency units ecus per 100 kilos
cyacq said financial projections it developed for cyclops were materially lower than the financial projections provided by cyclops to dixons group
piosec pioal acquires semiconductor stake
the spread is 50 basis points
orders will be strong for about two months and there are signs that some order rates are starting to dive already but dean witter reynolds inc analyst clarence morrison sees some short term potential in the group which includes usx corp x bethlehem steel corp bs armco inc as and inland steel industries inc iad there is still some attractiveness to steels over the short to intermediate term based on improved order rates and rising prices morrison said
securities dealers say the lack of viable hedging instruments for shares and bonds makes trading in domestic markets too risky
currently 22 foreign brokers are allowed to bid
the prime minister expressed his concern over the possible consequences of increased tension in the gulf at the same time recognizing the limited character of the american military reaction to the attacks it has suffered in the past few days the statement said
freedom savings and loan association said it will record a net gain of 135 mln dlrs on the sale of certain assets of its freedom mortgage co subsidiary to chase home mortgage corp a subsidiary of chase manhattan corp cmb freedom also said it had completed the sale
samjens last week topped a 76 dlr per share offer for burlington from morgan stanley group ms by one dlr per share
the cash alternative would offer the equivalent of 4002p a share
key wheat growing areas of the southern ukraine and north caucasus received on 25 35 pct of autumn precipitation she said
norways north sea neighbour britain has consistently refused to cooperate with opec output cuts saying it is up to the producing oil companies to set the levels of production
pursuant to the transaction harvey seslowsky and william hodes resigned from us videos board and were replaced by four members of first national
in the last few minutes of trading on friday another trader said the stock jumped to close up 3 3 8 largely on anticipation that the company would make a weekend announcement
shr 192 dlrs vs 58 cts net 279 mln vs 9480000 sales 1764 mln vs 1379 mln nine mths shr 387 dlrs vs 169 dlrs net 567 mln vs 276 mln sales 5056 mln vs 4385 mln
the 100 pct tariffs are to be imposed on 300 mln dlrs of japanese goods recommended for curbs by a special panel of experts headed by the us trade representatives office
fuel storage tanks in france burst into flames
shr after preferred divs
multi step products inc six mths dec 31 loss
he declined comment on local press reports which said the ministry would back a plan aimed at cooling british anger on the issue
api reported the amount of refinery capacity utilized up three pct for the week ended march 20
shr 77 cts vs 50 cts net 565 mln vs 364 mln sales 5833 mln vs 5159 mln nine months shr 202 dlrs vs 119 dlrs net 1485 mln vs 871 mln sales 169 billion vs 151 billion
the supplementary budget worth about 3448 billion dlrs was announced by the ruling liberal democratic party on the eve of miyazawas departure for washington to attend yesterdays meetings of leading industrial nations
utilization of canadian manufacturing capacity rose to 772 pct in the fourth quarter of 1986 from 77 pct in the third quarter statistics canada said
on september 8 the group offered 6400 dlrs in cash and 250 dlrs principal amount of 15 pct junior subordinated debentures due 2007 for each gaf share
forum group inc said it has terminated its agreement in principle to buy eight retirement living centers in six states from beverly enterprises due to a failure to reach a satisfacotry definitive agreement
however government officials have ruled out any further tax reduction packages to supplement a major program of stimulatory fiscal measures already underway
however it said the labour market would see only a slight improvement because companies will be reluctant to hire additional workers due to higher labour costs caused partly by agreed reductions in working hours
the company also said its board named thomas burke president and chief executive officer
japanese officials sought to convince the us that a us japan pact on microchip trade is working ahead of an april 1 deadline set by the us for them to prove their case
currently about three quarters of this years iso 800000 stg budget has not been paid but delegates said the us caused controversy as it said it might not pay its full contribution in the last year of the current pact
dividend payable june 3 books close may 11 21
there was no immediate indication when reagan might act on the recommendations of his economic policy council to curb japanese exports to the united states but officials said the move could come today or early next week
but the bank has traditionally been one of the most conservative in making provisions
the government has already made the political decision to entertain this time problem by inviting the existing producers to continue their activities in indonesia albeit on a selective basis indonesia one of the 13 members of opec must find new oil reserves if it is to remain an exporter in the next decade oil industry sources say
the company said domestic earnings in 1986 improved slightly despite strong competition due to efforts to avoid taking on orders which would not break even
defense secretary caspar weinbergers position was not immediately known but in the past he has opposed the transfer of high technology to foreign governments and companies
philippines posts 68 mln dlr january trade deficit
under us accounting practises dome mines would have reported 1986 loss of 1929 mln dlrs or 217 dlrs shr vs yr ago loss of 249 mln dlrs or 32 cts shr reflecting different principles in accounting for 22 pct stake in dome petroleum ltd dmp and 1986 oil and gas writedown
if predictions of a 30 pct decrease in plantings prove true australia may not be able to supply wheat to some of its valuable markets he said in a statement
hungary is to grow sugar beet on 105000 hectares of land this year compared with some 95000 in 1986 the official mti news agency said
us jan business inventories rose 09 pct after a revised 06 pct dec fall
federated department stores inc said it raised its quarterly common stock dividend to 74 cts a share from 67 cts an increase of 105 pct
calls for a cut in austrian interest rates have grown in recent days but bank chiefs are divided over the issue
it said thomas nationwide will be combined with its systems leasing corp unit in maclean va
the company named shearson lehman brothers inc as manager of the offering
the company which has 576000 dlrs remaining from a shelf registration of 450 mln dlrs last june said the borrowing is intended for general corporate purposes including the refinancing of existing indebtedness additions to working capital capital expenditures and acquisitions
standard and poors corp said it raised to a minus from bbb plus hechinger cos 199 mln dlrs of industrial revenue bonds
the external current account deficit rose to a record preliminary 345 billion crowns in 1986 from 291 billion in 1985 bringing total foreign debt to 265 billion crowns according to government statistics
the recently refurbished and expanded theater is located in garden city ny
qtly div 10 canadian cts vs 10 canadian cts prior pay may 25 record april 20
new jersey based overnight messenger purolator courier corp said it has agreed to be acquired for about 265 mln dlrs by a company formed by ef hutton lbo inc and certain managers of purolators us courier business
in fixed rate bonds the tone was likewise quietly firmer with euroyen and eurosterling maintaining their recent bullish trend and activity in dollar straight and ecu denominated bonds also picking up slowly
ccc accepts export bid for wheat flour to iraq
other new deals this morning reflected the recent primary market trend with little activity in dollar denominated issues although the currency sectors were busy
qtly div six cts vs six cts prior pay april 10 record march 31
however jiji quoted the sources as saying the central bank would not take such actions as guiding interest rates higher
a high ranking advisory body headed by former bank of japan governor haruo maekawa is expected to come up with a final report outlining concrete steps to redirect the economy days before nakasone is scheduled to leave for washington
it said the settlement is subject to negotiation by burlington northern the citibank na unit of citicorp cci and bankers trust co bt the bonds trustees
gabelli said he also proposes that management consider spinning off all assets other than the gencorp broadcast properties to shareholders
officials said china would borrow 25 to 30 billion dlrs in the 1986 90 five year plan period but foreign bankers said they estimate foreign loans at 30 to 40 billion
we have to speed up liberalisation and cut import tariffs faster and more substantially he said
the payment date is april 2
for fixed rate loans it was 936 pct 14 basis points below a month earlier the agency said
dome also said the write downs included a fourth quarter reduction in the value of its oil and gas properties of 120 billion dlrs before a reduction in deferred income taxes of 305 mln dlrs
he said several ems member countries believed the ems would work better if central banks held each others currencies an issue of particular importance regarding west germany since the bundesbank holds only dollars in its foreign exchange reserves
the company said the order and injunction would also prohibit dixons from exercising a lockup option granted it by cyclops and prohibit dixons for 10 business days from attempting to exercise any control over cyclops
also included was also a 1128 mln dlr decline from a net redemption of canada bills
the company said it will report its earnings soon
jp morgan and co inc said its first quarter earnings fell by 32 pct largely reflecting its previously announced decision to place on non accrual status its 13 billion dlrs of medium and long term loans to brazil
the non callable bond is available in denominations of two mln lire and will be listed in luxembourg bci said
additionally a new formula will be used for calculating the aid element in mixed credits to take account of different interest rates in the exporting countries the 24 nation oecd which hosted the reform negotiations said
this would have been the case in may 1984 when soya oil prices cif rotterdam stood at 914 dlrs a tonne they noted
australian gas light co counter bids for tmoc
us home uh in new credit agreement
a management group is currently being formed
asian revaluations
while no firm figures exist dealers in eurobonds estimate that 80 pct of all new issues are involved in some swap arrangement
it will extract enough ore to provide an estimated 25 mln dlr profit by the end of this year he added
he said some 75 pct of the money supply increase in 1986 was caused by a sharp rise in the inflow of foreign funds
the secs action which was approved by a 4 0 vote specifically removes a regulation against trading futures on designated foreign government debt securities on contract markets that are not located in the country that issued those securities
orange said the purchase price will consist of 19 mln dlrs in cash and 10 pct redeemable preferred 10 pct of hcs common equity and the right for it to prospectively receive 20 pct of certain royalties under a proposed licensing program
witco corp wit sets regular qtly payout
in remarks prepared for delivery before the national press club rostenkowski d ill predicted major trade legislation will be sent to president reagan by the end of this year
for the first quarter 1987 the company reported net income of 103 mln dlrs or 40 cts per share compared to 93 mln dlrs or 36 cts per share for the comparable quarter a year ago
in a filing with the securities and exchange commission harris said it bought 36700 builders transport common shares on feb 10 at 17 dlrs a share
seger said that with the recovery stumbling along the pace of the economy and the lack of robustness must be factored into monetary policy possibly a signal that the fed will be accommodative
while the usda soviet import target for grain for 1986 87 was 22 mln tonnes many us grain analysts have revised their estimates of soviet imports up to 25 28 mln tonnes she said
it also came one day after the reagan administrations economic policy council decided to take retaliatory action against japan for its alleged failure to live up to a joint trade agreement on computer microchips
new agency to give credit ratings on eurobonds
james sherwood president of the company said he expects to record a loss of approximately 12 mln dlrs for the first quarter compared to losses of approximately 22 mln dlrs for first quarter fiscal 1986
both brazil and its creditors have a strong incentive to work together volcker said
redkin laboratories inc rdkn qtly dividend
western digtial corp said it has completed the redemption of its 47 mln dlr 6 3 4 pct convertible subordinated debentures due 2011
sales of pharmaceutical and nutritional products were 548 mln dlrs in the first quarter up 176 pct over a year ago abbott said
south korea to keep trade surplus 3 5 years
some producers in the 1987 acreage reduction program may be eligible for deficiency payments on 92 pct of their enrolled acreage even though none of it is planted with wheat or other program crops the us agriculture department said
in its weekly petroleum status report the department of energy agency said gasoline stocks were off 500000 barrels in the week to 2510 mln barrels and refinery crude oil stocks fell 12 mln barrels to 3318 mln
shr 10 cts vs 13 cts net 1553000 vs 1541000 revs 731 mln vs 321 mln avg shrs 15474000 vs 12316000 year shr 47 cts vs 24 cts net 7241000 vs 2835000 revs 2162 mln vs 1012 mln avg shrs 15492000 vs 11921000 note net income includes extraordinary profit from recognition of tax loss carryforward of 920000 dlrs or six cts a share in 1986 year and of 785000 dlrs or seven cts a share in both 1985 periods
mitsui buys five pct stake in us chip maker
analysts and market sources view the twa bid as an attempt to either trigger a counter offer from usair or to attract a suitor who might want both airlines once they merged
sudan boosts budget cash for debt servicing
the most significant factor for the lack of a distribution this month is the establishment of additional special cost escrow accounts the company said adding that there may be no cash distribution in other months or during the remainder of the year
the speculation depressed local interest rates and unleashed a flood of new issues
the soviets will try to out capitalize the capitalists and buy corn before prices get too high the official said
varity corp formerly massey ferguson ltd said it expected to report on march 25 a loss for the fourth quarter and full year ended january 31
taiwans trade surplus with the us rose to a record 136 billion dlrs last year from 102 billion in 1985
although no explicit target was set for the broad sterling m3 money supply lawson said broad money will continue to be taken into account in assessing monetary conditions as well as the exchange rate
the cardis common shares continue to offer opportunity for price appreciation on the basis of the companys asset value and earnings momentum the brookehill group told the sec
painewebber inc will underwrite the offering
something is wrong with the system
sources close to finance minister edouard balladur said the revenues raised from the privatisation program would be used in priority to pay off public debt which stood at 3982 billion at the end of 1986
however earnings were satisfactory it said without giving absolute figures
tokheim corp tok 1st qtr feb 28 net
stoltenberg calls for new brazil talks with banks
company is a subsidiary of the british petroleum co plc bpl
shr loss eight cts vs profit 10 cts net loss 714905 vs profit 889679 revs 1091461 vs 3156569 year shr loss five cts vs profit 22 cts net loss 422037 vs profit 1850637 revs 6642490 vs 7948312 avg shrs 8808323 vs 8412822
scan graphics makes systems that allow users to convert graphic documents such as charts maps and engineering drawings into computer data that can be displayed edited and stored by computer
ferry disaster claims could top 30 mln stg
a budget saving proposal drafted by chairman patrick leahy d vt would limit adjustments in county loan rate differentials to no more than one pct per year from the national average loan rate starting with 1988 crops
a warrant gives the holder the right to purchase one share of lilly common at 7598 dlrs
it also plans a filing of 100 mln dlrs of 10 year notes
dyecast alloy no
us and japanese officials reviewed japans compliance with the agreement earlier this week
shr 49 cts vs five cts shr diluted 45 cts vs five cts net 651000 vs 95000 revs not given 1st half shr 57 cts vs one ct shr diluted 53 cts vs one ct net 781000 vs 56000 revs not given note current year net both periods includes gain 873000 dlrs from repurchase of securities
mead said it will use the proceeds to retire outstanding short term debt a portion of which was incurred to finance part of recent acquisitions
on an unadjusted basis total unemployment fell by 16500 in the month to end march to 692200
no bids were submitted for intervention barley
competition for market share has been a boon to issuers as banks compete to offer the best terms
argentina corn exports were also cut by 500000 tonnes to 68 mln tonnes
belgian three month treasury certificate rate cut 010 points to 740 pct
exotic newcastle a highly contagious disease of pet birds and poultry has been confirmed in two pet bird dealer facilities in maryland and new york the us agriculture department said
industry analysts also said the estimate of a 35 mln bpd draw in stocks made by shell chairman peter holmes yesterday fed speculation that other major companies were destocking
panchos mexican buffet inc pamxo 4th qtr net
west germany takes very seriously the recent undertaking by major industrial countries to promote exchange rate stability around current levels finance ministry state secretary hans tietmeyer said
cyprus lowers copper price 125 cts to 67 cts
while afgs participation in a 14 billion dlr bid for lear siegler inc was aggressive afg was mainly interested in lears profitable auto glass operations s and p noted
rep
the tender will consist of three lots of up to 70000 tonnes each for shipment may 1 30 may 10 june 10 and may 25 june 25 they said
the adjustment to second quarter income for earnings per share was 1175000 dlrs
lifetime corp lft year march 27 net
geodyne resources inc said iit filed a registration with the securities and exchange commission covering a planned offering of 36 mln warrants to buy its common
pitt des moines inc said it will acquire chicago steel corp in exchange for a portion of its stock
dole also repeated his call for an across the board export enhancement program saying a subsidy offer to the soviet union could help improve us relations with that country
dart group corp said it told supermarkets general corp sgl it was flexible on the price it would pay to acquire the company
japan central bank intervenes in tokyo afternoon
non callable to maturity the issue is rated a 3 by moodys and a by standard and poors
integrated resources inc ire 4th qtr net
sanwa will purchase the shares from international finance corp a bpi shareholder and sister organisation of the world bank for 351 mln yen he said
oper shr loss 123 dlrs vs loss 5750 dlrs oper net loss 17154000 vs loss 26953000 avg shrs 13914000 vs 476000 nine mths oper shr loss 1274 dlrs vs loss 7694 dlrs oper net loss 63774000 vs loss 35207000 avg shrs 5005000 vs 474000 assets 7853 mln vs 127 billion deposits 6256 mln vs 9388 mln loans 5656 mln vs 8269 mln note july 17 1987 company completed recapitalization with injection of 200 mln dlrs in cash 150 mln from the federal deposit insurance corp and 50 mln dlrs raised through a stock rights offering
the rally in cattle also boosted values of live hogs and frozen pork bellies which also were supported by indications that producers were expanding their hog herds at a slower rate than previously expected
chesapeake utilities corp chpk regular div
this year should be the fifth solid year in a row for homebuilding activity with single family units stronger than multi family units he said in a statement
thailand exported 84960 tonnes of rice in the week ended february 24 up from 80498 the previous week the commerce ministry said
the bank earlier reported first quarter profit fell to 1141 mln dlrs from 1404 mln dlrs a year ago
k mart corp km 4th qtr jan 28 net
in january automobile sales fell 19 pct department store sales slipped 32 pct and variety stores sales plunged 14 pct
the diplomats said they were backed by britain and france while italy greece and denmark supported the commissions view that bonn should bring in new measures to aid ec growth
the government has predicted that inflation this year would be slightly lower than in 1986 when it reached 209 pct
funaro says creditors willing to help brazil
brazil has bought 75000 tonnes of french wheat at tender a brazilian wheat board spokesman said
he said argentina was prepared to follow the example of brazil which last week declared a moratorium on interest payments of a large portion of its 108 billion dlr foreign debt
ergenc told the news conference the alert followed a government decision that turkey should protect its interests because of measures greece has been taking in the aegean in violation of international agreements asked how turkey would react if greece attacked any of the vessels he said if there is an attack it is clear what has to be done
since the paris agreement on february 22 the dollar had until yesterday traded in a 18150 18700 mark range and above 150 yen with traders reluctant to push the dollar down to test central banks resolve to defend currency stability
trade sources said the smaller availability of rubber last month did not raise prices as on previous occasions
pacific gas has raised its common stock dividend on a regular basis for the past 10 years a company spokeswoman said
shr 24 cts vs 24 cts prior qtr pay may 15 record april 24
for the full year 1986 the index base 1963 stood at 166 after up four pct from the 159 recorded the previous year
the us agriculture department said it has accepted a bid for an export bonus to cover the sale of 18000 tonnes of us durum wheat to algeria
plantronics inc plx 3rd qtr march 28 net
the sources said the main value of the us uk proposals lay in differentiating between different types of risk factor and for instance in placing greater weight on currency swaps than interest swaps
consumer goods such as fashion and wine as well as traditional industrial exports will be promoted
the fundamental policy objectives of the united states can best be implemented in a more flexible framework such as through the recent meeting in paris of finance ministers and central bank governors volcker said
van driel said the company would continue an active takeover policy in the us but would be wary about paying more than its current price earnings ratio of 17 times net profit
the company said 423 feet of the hole graded 092 ounce per short ton of gold including a 175 foot section grading 217 ounces
the drug division far and away brings in the highest rate of return said aw clements finance director of ici who was also at the meeting
wisconsin public service corp said in its annual report the companys five year construction program 1987 through 1991 is projected at 330 mln dlrs
treasurys baker pursuing s
commenting on the dollars fall below 150 yen sumita reiterated he cannot find any specific reason for the currencys weakness
listing singapore as a delivery point allows far eastern operators to deliver aluminium into a lme warehouse instead of having to cover
the improved earnings resulted mainly from a 225 pct profit increase in non manufacturing industries supported by an 887 pct rise for construction firms and a 138 pct gain in real estate according to a ministry survey
anz managing director brian weeks said recent developments in the money markets are of deep concern to all participants market participants are understandably nervous and cautious about future developments
as long as all the opec members adhere to the program as devised in december saudi arabia will continue to adhere to the agreement he said
equatorial said its understandings with contel are subject to equatorials ability to restructure a significant portion of its obligations and to obtain concessions from lenders and lessors in particular under its galaxy iii transponder lease
union texas said its fourth quarter loss was increased to 295 mln dlrs from 215 mln dlrs reported previously and revenues reduiced to 214 mln dlrs from 228 mln dlrs
ortiz mena declined to agree with estimates that capital outflows from latin america last year totaled 35 billion dlrs and that therefore he was calling for an inflow into the region above that sum
but the ratio will be back below 40 pct within 12 months he added
campeau said it and the debartolo association will each hold a 50 pct ownership interest in the shopping centers
1986 results include accounts of 89 pct owned precambrian shield resources ltd acquired november 5 1986
merrill said the loan is a back up to a proposed euro commercial paper program
a chrysler financial source speaking anonymously told that the proposed purchase price was smaller than it would have been had a deal been struck last year because the impact of the new us tax law removes chryslers ability to assume amcs large reserve of tax loss carryforwards accumulated from its losses since 1980
a chrysler spokesman told that the letter of intent signed with renault amcs controlling shareholder with a 462 pct direct stake includes a provision for renault to be paid 35 mln dlrs in cash for amcs finance subsidiary and 200 mln dlrs in the form of an eight pct note
the department said it was the largest monthly sales drop on record
the budget explicitly recognises the need to draw down reserves while foreign borrowing has been ruled out
some traders and analysts expect limit declines in nearby contracts with spillover selling likely in cattle
seed beds look good and farmers are advised to wait for soil temperatures to rise the spokesman said
both parties also agreed to adjourn pending litigation they have against one another it added
money market sources said the surprise announcement might herald a quarter percentage point cut in the central bank intervention rate from the 7 3 4 pct level set march 10 but they added such a cut was relatively unlikely
nevertheless there is likely to be a marked slowing in inflation over coming quarters as depreciation and budgetary effects wane he said
clausen said despite improvement in the past quarter bankamerica must do more to improve its capital ratios
an agency spokesman said this is a device that airlines use to get majority control of a company it is trying to acquire while their application before the government is pending approval
that debt will set the company off at a 60 pct debt to capital ratio which hemminghaus said is too much
us agriculture department animal health officials are conducting a national survey of live bird markets and auctions to check for signs of avian influenza an infectious viral disease of poultry the department said
the european currencies are moving back up against the yen
some experts worry the central banks have lost more than just a temporary battle to prop up the dollar
some seven billion marks is expected to flow in next week
intense united states and nato efforts bore fruit greece will stay in its national waters said the daily gunes
it said reconstitution would enhance the flexibility liquidity and marketability of treasury securities
pyongyang and a group of tokyo based north korean businessmen plan to resurrect a north korean goldmine and boost annual output to almost one tonne within two years from 600 pounds at present said li sangsu a spokesman for unzan mine development co the venture partner
guillevin international inc year jan 31 net
cuts in the eep program are unlikely he said
the soviets are not in a desperate situation they dont have to buy grains now a usda official said
dutch chemicals group akzo nv akzoas said it hoped to consolidate its core activities this year by making small acquisitions in the us
it said this trend will continue because of latin american debt problems
burr brown corp said its first quarter 1987 results will show profits significantly below the 1058000 dlrs or 11 cts per share earned in the first quarter last year
wtc is engaged in domestic international air freight ocean and surface freight forwarding and consolidation and distribution services
only nine pct expect output to fall while 47 pct said production would likely remain unchanged
gross national product grew 24 pct last year
in addition tendering and non tendering investors will receive the bonds may one interest payment in common stock
there is also the possibility of production quotas being reduced
the suppliers they said could force trailways into bankruptcy at any time trailways also owes a consortium of banks 76 mln dlrs and the consortium has threatened to call the loan if trailways fails to pay the interest due june 30 they said
1986 and 1985 net include loss of 3512000 dlrs and 5944000 dlrs respectively for equity in welltech and predecessor operations
merrill lynch in no way benefited from the trades merrill lynch said vaskevitch was suspended when we were informed of the specific allegations and evidence the company did not say precisely when the suspension took place
those who supported us today can be sure that mexico will continue to be open and willing to share with them the business opportunities which its future growth will create petricioli said
the company earned 119000 dlrs before a 70000 dlr tax credit on sales of 7227000 dlrs in the year ago period
net 646000 vs 470000 assets 1730 mln vs 1529 mln notequarter ended march 31
the sources said the government would fall far short of covering all of its 40 billion marks in lost revenue from the tax reform by making expenditure cuts and would be forced to fall back on debt markets in one form or the other
court upholds bank building bb self tender
payment date is april 30
shr profit 36 cts vs profit 14 cts net profit 1162000 vs profit 464000 revs 166 mln vs 113 mln nine mths shr loss 89 cts vs loss 79 cts net loss 2988000 vs loss 2673000 revs 351 mln vs 251 mln note nine months fiscal 1987 includes extraordinary gain of 16 cts per share
it also declared a regular quarterly dividend of 25 cts per share on its common payable may one to shareholders of record april 10
corrected datron datr agrees to buyout
colombian exports other than coffee rose 55 pct in january compared with the same period last year figures from the government statistics institute show
if the flow of funds dries up a country like brazil cant meet all its obligations he said
frankfurt and zurich dealers saw the dollar staying broadly entrenched in its current trading range
shr 22 cts vs 49 cts net 296994 vs 657416 revs 65 mln vs 95 mln year shr 78 cts vs 151 dlrs net 10 mln vs 20 mln revs 276 mln vs 294 mln
lajous said there was still excess supply and as long as this remains there will be a tendency to instability in oil markets but prices should remain around 18 to 19 dlrs during 1987 if output remains under control
she said the sugar could be offered again to intervention
the minister of communications and transport abdel jabbar abdel rahim al asadi was also relieved of his post and replaced by a member of the ruling baath party regional command mohammed hamza al zubeidi
the june 25 buyout proposal remains open until july 17
although laser expects to post earnings from operations for the year a spokesman said they might be wiped out by legal costs depending on the length of litigation
but others noted the feds current add need is not large
the financing includes 30 mln dlrs of convertible subordinated debentures and 27 mln common shares at a price of 11 dlrs per share for a total of 597 mln dlrs wood gundy inc and gordon capital corp agreed to buy the securities
these agreements together with others for argentina and we hope brazil should assure substantial new loans this year mulford said
pacific telesis group chairman donald guinn told a meeting of security analysts that the company sees continued earnings growth in 1987 above the 108 billion dlrs or 502 dlrs per share earned in 1986
the other dealer is swiss bank corp international ltd and morgan guaranty trust co of new york is issuing and paying agent
constellation bancorp cstlo 3rd qtr net
the peak broke a steady trading trend of 15 to 17 billion dlrs a day seen in the second half of 1986
international business machines corp said it formed a new business group to sell and support telecommunications products
two of those victims died and half the victims in their study of 45 patients had to be hospitalized for their illness
analysts have said they are baffled by the strength of tafts stock price compared to what they see as breakup values for the company
analysts said last year british petroleum held one of the more bearish positions on oil prices
bank new england bkne files note offering
year to date ford said it produced 534209 us cars up from 446505 last year to date
he told parliament that in the southern provinces the harvest would be over 50 pct down on the level in the previous marketing year
bankers trust bt raises broker loan rate
tanzanian cotton threatened by lack of storage
several other takeover proposals have crumbled following declines in financial markets leading to speculation that edelman might also drop his offer
japan has no plans to invest further in the ethylene industry in order to cope with the additional demand despite rising prices trading house sources said
economists said the overall data reflected exceptionally bad weather at the start of the year and stricter quality controls imposed on enterprises
jordan sudan sign 100 mln dlr barter trade pact
the banker said officials have stressed repeatedly over the past six weeks that chinas foreign borrowing will not be affected by a drive against bourgeois liberalism a phrase meaning western political ideas following the dismissal of communist party chief hu yaobang on january 16
periods end january 31 1987 and 1986 shr 12 cts vs nine cts net 507000 vs 362000 revs 5010000 vs 3558000 note system software associates inc is full name of company
the program will reach an initial 118000 viewers
santos says it has significant oil find
each bond is accompanied by a warrant giving the right to subscribe from september 1 to 30 1987 to a new cne 870 pct bond due october 1997 with a par issue price
fluorocarbon co fcbn 4th qtr jan 31 net
reserves rose by 170 billion rand during january and february
that speculation drove borg warner stock up 1 3 8 to 49 5 8 in heavy trading
the strong cash flow coupled with the proceeds of the 1986 rights issue and the use of existing cash balances enabled group debt to be reduced by nearly 500 mln dlrs
but they will probably do it only half heartedly so i dont think it will matter too much on rates one dealer said
first interstate i estimates brazil risks
a counter proposal from creditor banks to argentinas request for rescheduling its 50 billion dlr foreign debt was faulty an argentine observer at negotiations said
belgelectric finance bv is raising 300 mln luxembourg francs through a five year non callable bullet bond carrying a 7 1 4 pct coupon at par lead manager banque internationale a luxembourg sa bil said
he said it is highly likely that the final study will show japan has the highest farm subsidies in the world
ecuador was obliged to suspend crude oil exports for an expected five months as a result of damage to 25 miles of pipeline linking its jungle oil fields with the pacific port of balao
the split is subject to approval of the increase in authorized common shares it said
ec appoints new trade chief
hoechst celanese was formed feb 27 by the merger of celanese corp and american hoechst corp
camco inc cam sets quarterly
toronto sun plans two for one stock split
but some bankers who declined to be identified said the halt also suited mexico as it would keep up pressure on the banks during the final campaign to persuade all 400 creditors worldwide to participate in the loan
brazil is talking to bank creditors at miami during a meeting of the inter american development bank its first discussions with these creditors since it suspended interest payments last month on its 68 billion dlr debt to commercial banks
newmont mining corp held 5250376 du pont co shares or about 22 pct of those outstanding at the end of 1986 down from the 5970141 shares or 25 pct of those outstanding it held a year earlier newmonts annual report said
prior to its takeover in december it had accumulated long term debt of 600 mln canadian dlrs
money market fund assets rose 5525 mln dlrs in latest week to 23746 billion
britoil plc btoll 1986 yr
he said however that the fdic still has control over who will eventually own the firm because it still holds the equivalent of 148 mln common shares out of a total 215 mln
opec president lukman expects short calm meeting
it did not immediately disclose the affect of the change on prior years results
oakleaf had 1986 sales of about 26 mln dlrs
malaysia welcomes accord on new rubber pact
johnson geneva said the buy out was accomplished through onpraise ltd a hong kong company controlled by johnson geneva chairman michael johnson
the financing will be for seven years with four years grace and will allow the borrower to make drawings in us dollars
the dividends are payable on april 20 to shareholders of record april six
kansas legislator predicts eep wheat to soviets
firms in submitting offers may elect to receive payment from the mint by standard check or by wire transfer
the japanese are looking for ways to reduce trade pressures from washington but at the same time theyre demonstating their muscle analyst peck said
saudi renegotiation of aramco deal moving along
society savings socso forms holding company
however fixed charge coverages will remain very thin until the companys markets improve d and p said
heavier than normal monthly shipping rates for yugoslav corn exports are due to the increased use of river barges for exporting corn to the soviet union the counselor said
the report said an import fee would raise prices and help make it economical for us oil firms to find and produce new oil as well as to cut imports but on the whole the tax would depress the nations economy
ambassadors to the ec from african caribbean and pacific acp states told a press conference the tax would hit the exports of 26 acp countries
in addition the 60 cent limit can be increased to 90 cents a lb if the first two limited months both make limit moves in the same direction for two consecutive sessions according to the csce announcement
ice creations is a molder of plastics
the miti official said miti undertakes such surveys when exchange rates fluctuate widely
in making the offer for usair icahn threatened to go directly to shareholders for 51 pct of the stock at a lower price if usair rejected his offer
he said his bill would allow private suits for damages for failure to meet the federal reserves 50 pct margin requirements
an american medical spokesman said the company will comment on the new pesch offer by march 10
shr 53 cts vs 61 cts net 9909000 vs 11489000 revs 1859 mln vs 1615 mln year shr 120 dlrs vs 137 dlrs net 22522000 vs 25667000 revs 5885 mln vs 5217 mln
bp australia reports 1615 mln dlr year loss
usda officials however took issue with the report saying it did not take into account storage handling and transport savings that accrue to the government
concord fabrics inc cis 2nd qtr net
japan has launched a last ditch effort to salvage its computer micro chip pact with the united states sending a letter to top american policy makers setting out its case and instructing its producers to cut output further
the warrants are exercisable from may 18 1987 until april 10 1992
shr profit eight cts vs loss 23 cts net profit 251000 vs loss 731000 revs 291 mln vs 259 mln backlog 189 mln vs 125 mln
in a statement reacting to the five institutes joint spring report bangemann said that as far as the call for bringing forward the 1990 tax reform was concerned the government points out that the positive effects for growth of its policy of consolidation cutting the budget deficit must not be allowed to be endangered bangemann also recalled that the scope of tax cuts planned for 1988 had already been increased
the company also said it has arranged a one mln dlr loan secured by its fort lauderdale fla property from republic bank for savings of jackson miss and has sold its peter pan restaurant in urbana md for 1100000 dlrs
entertainment em may seek crazy eddie crzy 
southland slc unit raises crude oil prices
in private they blame us industry for being uncompetitive
energy secretary john herrington said in a statement that although we have made gains in energy security in the last six years this report shows that there is justification for national concern both over declining competitiveness of our domestic oil and gas industry and over rising oil imports the report said imports last year were 33 pct of us consumption and by the mid 1990s could rise to 50 pct
a spokesman for the port of santos which has been the scene of labour unrest and congestion in recent months said movement of ships out of the port was running at about half its normal level of 12 ships a day
the financing being arranged by morgan guaranty will take the form of a fully committed revolving credit
french economic council pessimistic on 1987 growth
analysts expect apparel sales to remain good as sales of durable and houseware items grow softer due to the continuing high levels of consumer debt
the authorization provides for 34 mln dlrs about 309000 tonnes worth of wheat grade us number two or better except durum which shall be number three or better it also provides for 16 mln dlrs about 73000 tonnes worth of wheat flour
japan does not intend to cut discount rate sumita
cummins recorded net income of 3743000 dlrs or 38 cts per share on sales of 5169 mln dlrs
reef energy corp said its board entered into agreements with penteco corp a private tulsa based company to buy a 12 pct interest in the general partnership of penteco east central pipeline and a 10 pct interest in lincoln gas and marketing corp
houston lighting recently exchanged 390 mln dlrs of high coupon bonds for nine pct bonds saving about 11 mln dlrs in annual interest costs
intl lease ilfc files 500 mln dlrs offering
the issue is available in denominations of 5000 dlrs and will be listed in luxembourg
if it hadnt been for him the world would look a lot different now he said
symbion inc said warburg pincus capital co lp began a tender offer to purchase up to 25 mln shares or about 33 pct of symbions shares at 350 dlrs per share
most ec states said to be against oils fats tax
but baker said at the weekend that the west german rate rise was not in keeping with the spirit of what we agreed to what im really saying is that they should not expect us to simply sit back here and accept increased tightening on their part on the assumption that somehow we are going to follow them he added
italian balance of payments in deficit in may
it said orders at its harris graphics subsidiary acquired in june 1986 continue to run at a strong pace for the six months orders rose 35 pct over the corresponding prior year period or on an annualized basis are running at about 630 mln dlrs
usda personnel in the corn belt states of iowa illinois and indiana have been reporting heavy signup activity an ascs official told 
the company said it will assume about 10 mln dlrs of fox liabilities with a provision for a further 65 mln dlrs based on the future financial performance of fox during the one year period following the closing of the deal
shell francaises berre letang refinery will shut down in early april until mid june a company spokesman said
mitchell energy and development corp mnd payout
officials told last week that commerce secretary malcolm baldrige and defence secretary caspar weinberger fought the planned sale of fairchild by french controlled schlumberger ltd slb to japans largest computer maker because it could have left the us military dependent on foreign sources for vital technology
starrex mining shares rose 40 cts to 475 dlrs in trading on the toronto stock exchange
japans finance ministry will start issuing bonds with coupon payment of either march and september or june and december from april 1 matching futures delivery months
earlier this week the bank sanctioned a cut in bank interest rates in a surprise move which aimed at limiting sterlings rise ahead of the march 17 budget
today however the pound hardly moved on the reserves news dipping on its trade weighted index against a basket of currencies from 731 pct of its 1975 value at 1000 gmt to 730 pct at 1100 gmt half an hour after the figures were released
mutual shares corp and mutual qualified income fund inc said they were weighing offers to buy purolator shares from pc acquisition inc a unit of ef hutton lbo inc for 35 dlrs a share and from eaf acquisitions corp inc a unit of emery air freight corp
oil stocks on land in the united states and canada were put at 2066 mln tonnes down from the 214 mln tonnes on january one and equivalent to 94 and 98 days of consumption respectively
final terms set on atari corp convertible eurobond
provinsbanken increases euro cp program
rules can and will be ignored if the institution is weak or perceived as unable to adapt to the changing world economy he also also urged that member states be accountable to each other for their trade policies
richton international corp rihl 3rd qtr jan 31
anything could happen one delegate said
utahs assets include stakes of 4025 to 5225 pct in seven large central queensland coking mines 49 pct of the samarco iron ore operation in brazil 60 pct of la escondida copper deposit in chile the island copper mine at port hardy in canada 70 pct of a coal mine and 30 pct of a gold mine in south africa and coal and other mines in the us bhp minerals assets include wholly and partly owned iron ore mines coal mines manganese and base metal operations or prospects and 30 pct of the ok tedi gold copper project in papua new guinea
mayfair industries inc mayf 4th qtr net
the type and grade quantity sold average prices in rupees per 50 kilos exclusive of sales tax with previous prices at the march 11 auction in brackets 1986 87 crop plantation a 5922 128450 122350 plantation b 741 109550 112200 plantation c 2082 101900 101750 arabica cherry ab 333 97650 na arabica cherry pb 225 94900 na arabica cherry c 582 88950 na robusta cherry ab 909 125600 na robusta cherry pb 438 103950 na robusta pmt ab 492 125550 na robusta pmt pb 135 120000 na rep bulk a 939 105750 90850 rep bulk b 2565 107900 93000 robusta cherry bulk 402 108250 na robusta cherry c 90 99700 na robusta cherry bbb 96 70000 na 1985 86 crop arabica cherry ab 1233 96100 95150 arabica cherry bbb 1608 63550 61350 robusta cherry bbb 42 73500 70450 monsooned coffee monsooned robusta aa 237 126550 na
asked if he would raise the issue at the next federal open market committee meeting he said even at previous meetings commodity prices were raised he added i would not expect future meetings to be different from past meetings in that respect
international platinum corp said it signed a letter of intent to enter into further negotiations on a joint venture exploration agreement with degussa ag of west germany regarding several north american platinum properties
northern air freight nafi gets rejects bid
eg and g inc egg sets quarterly
the state owned british steel corporation benefitting from massive recent write offs of its accumulated debts is currently one of the few ec steel companies in the black
under the pact california micro devices will design the chips and tachonics will manufacture them
economists say capital flows are more sensitive to interest and exchange rates
that would result in a total debt to capital ratio of nearly 50 pct moodys said
caesars world said it expects to raise the approximately one billion dlrs needed to pay the 25 dlr per share dividend and the expenses of recapitalization through around 200 mln dlrs in bank borrowings and a public sale of approximately 800 mln dlrs of debt
shr nine cts vs one ct net 247489 vs 27301 sales 1933107 vs 796613 six mths shr 21 cts vs five cts net 565106 vs 121997 sales 3781970 vs 1778110
turkish ship headed for florida after explosion
tca cable tv inc tcat sets quarterly
ensource inc eee 4th qtr loss
at the time the company said it would buy back 30 mln shares or 16 pct of the outstanding stock
biopool ab develops cardiovascular and fibrinolytic products for diagnostic applications
analysts believe gaf which owns 199 pct of borg warner will raise its offer
period ended may 31
a portion of the proceeds will be used to acquire all of the outstanding capital stock of network switching systems inc
4g data systems gggg 3rd qtr net
oper shr profit 18 cts vs loss four cts oper net profit 1847000 vs loss 282000 revs 259 mln dlrs vs 8626000 drs 12 mths oper shr profit 39 cts vs loss 24 cts oper net profit 3262000 vs loss 1555000 revs 675 mln vs 279 mln dlrs
its declining debt to equity ratio of currently about 16 pct also made it likely that bat would soon be looking to make major acquisitions they said
in 1986 the government financing requirement is estimated at 561 billion francs or 110 pct of gnp
partially offsetting these exchequer transactions would add around 355 mln stg the bank added
it said the debentures may be exchanged at any time prior to maturity unless previously redeemed for shl systemhouse common shares at an exchange rate to be determined at the time of the sale of the debentures
darmans strength was not as an economist but as a political strategist and thats bakers strength too the official said
highveld steel and vanadium corp ltd said it expects 1987 earnings will be lower than last years previously reported 85 cts a share
shr 14 cts vs nine cts net 217572 vs 153454 revs 2530273 vs 2558924 1st half shr 19 cts vs 11 cts net 299838 vs 174739 revs 4865249 vs 4495021
the existing buffer stock of 100000 tonnes of cocoa was frozen in place with its bank balance of 250 mln dlrs both untouchable until rules are agreed
economists said the debt agreement would have no significant impact on economic problems continuing to face south africa including high rates of inflation and unemployment labour unrest and political uncertainty
us computer makers that use the chips in their machines will then be pressured
it said it is closing branches were overlaps exist following its august 1986 acquisitions of citizens federal savings and loan association of cleveland and dollar savings bank of columbus or where efficiencies could be improved
shr 49 cts vs 39 cts net 886937 vs 892323 revs 259 mln vs 237 mln year shr 178 dlr vs 134 dlr net 3254301 vs 2472676 revs 1006 mln vs 874 mln note 1986 4th qtr and year net includes income loss of metcap subsidiary of 14881 dlrs and 311848 dlrs or 17 cts per share respectively
a landslide breached iraqs one mln bpd pipeline through turkey on march 6 for a week and earthquakes in ecuador have shut down its export pipeline for four to five months
malachi mixon iii said he expects the home healthcare equipment company to post sales increases in the 10 to 15 pct range in 1987
several latin american countries have initiated schemes to cancel foreign debt by equity swaps or third party buy backs but bolivia would be the first country in the region to make a formal offer to buy back all its commercial bank debt at discounted rates
defense preoducts and other manufacturing operations will account for more than half sncs total 1987 revenues helping to counterbalance the more cyclical engineering and construction acivities taylor said
moodys downgrades niagara mohawks 22 billion dlrs of debt
the bank of england said it provided the money market with help of 97 mln stg in the morning session
saudi arabia has an opec quota of 4133 mln bpd under a production restraint scheme approved by the 13 nation group last december to back new official oil prices averaging 18 dlrs a barrel
whippany paper board co inc said shareholders at a special meeting approved a merger into npn inc for 250 dlrs per share
phh phh buys two design firms
ibc expected to maintain coffee export formula
corning glass works subsidiary corning international corp said it agreed to transfer 55 pct of its capital stock of an argentine glass manufacturer to a european group
the oecd said italys gdp may grow by three pct in 1987 but will then fall back to 25 pct in 1988
that authority lapsed in september 1986
an apparent parallel vein structure at the 2600 ft level returned similar values the company said
as previously reported pending a ruling from the internal revenues service the trusts distribution may be reduced by 109 dlr per unit plus interest spread out over the life of the productive properties in which the trust has an interest
lifestyle lif bombay amend merger agreement
merrill lynch capital markets and shearson lehman brothers inc are lead underwriters unocal said
the split will be effected in the form of a 50 pct stock dividend on both classes
the highest number of working rigs was 4500 in december 1981
canadian imperial bank of commerce 1st qtr
in a white house briefing greenspan was asked by reporters if he thought the dollar had bottomed out
we would like the business administration court in the hague to ask the luxembourg court of justice not only whether the dutch grain commodity board the levy collection agency has interpreted the levy regulations correctly but also whether the regulations themselves may contravene european law pex said
klm said last week it is negotiating a minority stake in british courier service iml air services group ltd a subsidiary of british and commonwealth shipping plc bcoml to strengthen its position in the fast growing worldwide door to door delivery market
in the long term we cannot repeatedly bludgeon other nations into opening their markets with threats of us restrictions
the vote was 1229 or 545 pct against and 1028 or 455 pct for the contract
two hundred people rescued from sinking ferry
the forecast assumes an average rate of 1485 yen to the dollar in 1987 88 compared with 160 yen in the current year
bernstein and co raised its earnings estimate of the company based on expectations of better truck orders and truck tonnage traders said
canadas progressive conservative government agreed to impose a 15 pct duty on its softwood lumber exports earlier this year to end a long and bitter bilateral trade dispute with the us axworthy urged the government to present canadas case to world trade authorities under the general agreement on tariffs and trade
roberts urged kay to convey to top officials of the usda that some in congress favor a wheat eep to moscow
under current law disclosure may be made as late as ten days after exceeding the five pct limit
renault currently holds about 46 pct of amc
yield increases continue to be hampered by an insufficient supply of quality seeds along with pest and disease problems the report said
madagascars available coffee output is estimated at 80725 tonnes this year down from 82210 in 1986 due to a rundown of government agricultural services and the poor state of feeder roads in rural areas agriculture ministry sources said
indias total oil output is around 30 mln tonnes
balladur responding to weekend remarks by us treasury secretary james baker that the us would take another look at the accords said i firmly desire a faithfull and firm adherence by all the major industrial countries to the louvre accords in both their letter and spirit on sunday baker said last weeks rise in short term west german interest rates was not in keeping with the accords
the company said cytrx biopool is studying the possible combination of cytrx corps rheothrx drug to reduce platelet aggregation and viscosity in blood with biopool abs drug t pa for dissolving blood clots
shr loss 26 cts vs loss one cts net loss 699000 vs loss 20617 revs 883000 vs 11 mln year shr loss 62 cts vs loss eight cts net loss 17 mln vs loss 185003 revs 36 mln vs 45 mln
united presidential corp upco 4th qtr net
baker also urged the fund to develop alternative medium term economic scenarios for countries that can help us focus even more clearly on the most important imbalances by identifying options for addressing them and analyzing the implications of these options he said also that further work should be done on finding paths that lead toward possible medium term objectives
the company said the terms of the sale have been approved by its board and by prime motor inns inc pdq owner of about 84 pct of universals outstanding stock
he listed environmental questions particularly acid rain and defense as the second and third most important bilateral issues facing ottawa and washington
it also said its first quarter earnings ended march 31 which it said it will release later this month will be similar to its fourth quarter earnings last year
he said in the interview the us purchases were to reduce his countrys 71 billion dlr surplus with the united states and also to cut its 56 billion dlr shortfall with japan
this economist who declined to be named said the february rise was also partly explained by special factors in january when there had been a number of public holidays as well as extremely cold weather both of which hindered trade
money market dealers said that overnight call money rates would rise in the near future in any case and did not depend on a politically inhibited bundesbank
invacare corp ivcr 4th qtr net
it said buyers of 1986 and 1987 jeep cherokee wagoneer and comanche vehicles have a choice of the financing program or a rebate
reduced production of natural gas and lower utilization of domes offshore drilling fleet in the beaufort sea also contributed to the decline it said
mathematical applications said it tentatively agreed to sell its direct marketing business to pagex inc for 400000 dlrs plus an amount equal to the working capital of the business at closing as well as a 17 mln dlr note payable in installments over six years
the buffer stock may begin buying shortly as the icco 10 day average indicator price is now at 157803 special drawing rights sdr per tonne below the 1600 must buy level
justifiably not anticipating either a recession or seriously higher interest rates securities market participants have seen little to fear wojnilower said
the png geological survey paper noted there are five large prospective but little explored sedimentary basins in png
net rate on the preceding issue end february was 998 pct
it is to feature alongside the financial services act aimed to bolster investor protection and the building societies act which put these institutions on an equal footing with banks
the central bank bought bank bills outright comprising 12 mln stg in band one at 9 7 8 pct and 85 mln stg in band two at 9 13 16 pct
the shares involved in the proposal were part of the block of 38 mln shares owned by the united coconut planters bank ucpb and sequestered by the government
diplomats said they expected the chartered soviet tankers to sail between kuwait and khor fakkan on the united arab emirates uae coast a short way outside the strait of hormuz at the mouth of the gulf
the six agreed to cooperate to stabilise exchange rates at around current levels
the leftist led fut said it was also backing a call by the maoist popular movement for democracy mpd party to have congress impeach and oust febres cordero a conservative for having adopted the austerity measures
both believed the combination would permit more effective competition throughout the world and enahnce the service provided to clients
they could be purchased with financial rands with interest paid in commercial rands
continental medical systems inc said it plans to file with the securities and exchange commission a registration statement covering about 25 mln dlrs of convertible subordinated debentures
dome petroleum ltds 232 pct stake of gold producer dome mines ltd continues to be for sale at the right price spokesman david annesley said in response to an inquiry
februarys retail sales were 44 pct above the year ago level of 11709 billion dlrs the department said
it said hc also agreed to lend up to 600000 dlrs to it in advance of closing and it had already received 300000 dlrs
lowrance electronics inc said results from operations in the third and fourth quarter may not be comparable to the first and second quarters which were strong because of orders for new sonar equipment
will and senior vice president william d
asked by reporters if somebodys head should roll because of the wall street retreat texas democratic senator lloyd bentsen said with some irony oh i think its much too late to be doing that you have an administration thats taken the attitude that we can put the country on automatic pilot and retire to the living room to take a nap
some 750 mln marks will be offered for immediate sale with 75 mln held back for market regulation and the remaining 75 mln placed with the railways own bank
given the importance of this market to us industry in general and our defense base in particular we cannot stand by idly he said
vr business brokers inc said it closed the sale of a controlling interest in its comon and preferred stock to vr acquisition corp a delaware corporation controlled by an investment group led by c
marks work wearhouse ltd year jan 31 net
tcby enterprises tcby splits stock
the ministry is accepting applications for phase two blocks until early april and the awards will likely be announced this summer officials said
however bankers said some banks have been window dressing their balance sheets to mask non performing loans which are variously estimated by bankers at between 20 to 50 pct of the industrys 9026 billion lira in total credits
exploration is currently pretty flat
at least one however estimated the company could be taken over in a range of 38 to 42 dlrs per share
asamera inc year oper shr loss 48 cts vs profit 50 cts
shr 36 cts vs 31 cts shr diluted 32 cts vs 30 cts net 26158000 vs 21798000 revs 105 billion vs 8442 mln nine mths shr 128 dlrs vs 122 dlrs shr diluted 115 dlrs vs 108 dlrs net 92779000 vs 77971000 revs 316 billion vs 270 billion avg shrs 724 mln vs 640 mln
a soviet ship will load 25000 tonnes at the pacific port of punta morales monday alfaro said and a second ship will take an additional 7107 tonnes two days later
atlee burpee co to a new company formed by wicks capital corp bankers trust new york corp bt and burpee management for undisclosed terms
bobbie brooks inc bbks year net
taking the two months together the seasonally adjusted surplus was slightly below the figure for the previous two
he indicated if the loan rate were 456 dlrs usda could then consider ways to make us soybeans more competitive such as using certificates to further buydown the loan rate
our priority is to get cash flow increased from the assets already installed he said but he declined to estimate annual cash flow for 1987
asked about the prospect for oil prices he said i think they will stabilise around 18 dlrs although there is a little turbulence of course the spot price will fluctuate but the official price will remain at 18 dlrs he added
uk banks offer fixed rate mortgages at 102 pct
taking the first two months of 1987 together imports in value terms fell 14 pct to 626 billion marks compared with a year earlier
however zuckerman declined to name the other two houses
as of dec 31 1986 nonperforming brazilian outstandings were about 41 mln dlrs it said
the rescheduling accord covers some 90 pct of venezuelas commercial bank debt which accounts for more than 90 pct of the total public sector external debt
the dollar has now shed some seven pfennigs since the bundesbanks new tack became clear in early october
the fiercely contested tax would be a levy on consumers and steeply increase the costs of industries such as potato processing and cake and biscuit manufacturing de bruyn said
shr profit one ct vs loss nil net profit 200052 vs loss 56782 revs 2394198 vs 706393 avg shrs 178 mln vs 198 mln year shr profit one ct vs profit one ct net profit 258125 vs profit 164553 revs 4225731 vs 3027892 avg shrs 179 mln vs 195 mln
he estimated it could take about 60 days to build
the bank of england said it revised down its forecast of the deficit in the money market today to 750 mln stg from 800 mln
bp oil raises operating profit
of them some 18000 clients cla27imed they could get back neither gold or money suffering an aggregate loss of 150 billion yen local press reports said
in addition consolidated tvx said it will acquire the right to add a 10 pct interest to a platinum property in which it already owns a 294 pct stake
qtr ended jan 31 shr 48 cts vs 38 cts net 1171000 vs 794000 revs 156 mln vs 140 mln year shr 85 cts vs eight cts net 1831000 vs 266000 revs 504 mln vs 465 mln
the licence requests were for 35000 tonnes at between 143 and 145 european currency units ecus they said
china buys malaysian rbd palm stearine
he told that billiton a fully owned royal dutch shell rdas subsidiary presented the demands to henk heidweiler a top aide to surinam military leader desi bouterse who visited the netherlands last week for official talks
petersburg san diego and austin on april one
earlier today diplomats said belgium the current holder of the european community presidency appears ready to drop the plans for the controversial oils and fats tax
at the same time it said inflation as measured by the gnp price deflator rose by 07 pct during the period
nigerias central bank has changed the rules governing its foreign exchange auctions in what analysts see as a means of defending the naira currency which has depreciated steadily
a float of part of delhi would have raised between 200 and 300 mln dlrs but in opting to sell outright csr had given itself the cash to all but eliminate its debt and embark on an ambitious expansion programme in its best performing divisions of sugar and building products analysts said
under terms of the facility leucadia may issue euro notes in maturities from one to six months subject to a maximum of 183 days
it said the modernization would involve replacement of the existing bar mill with a high speed quick change continuous mill
year on year inflation rose to 34 pct in february against a revised 32 pct in january and a year on year rate of 53 pct in february 1986 the bureau said
sumita says major nations will continue to cooperate to stabilize currencies
al laboratories inc bmd 4th qtr net
spain gives cuba 25 mln dlr credit line
they said a special committee of agricultural experts from ec member states had voiced strong objections over the measure during a meeting charged with preparing the ground for the annual ec farm price fixing which begins next monday
the spokesman said he believed baker had already left west germany for sweden on monday
but he agreed to setting up the dispute panel
uk confirms february sterling m3 rise
it said each right entitles the holder to buy one tenth of a share of preferred stock of st
the increase brings the companys posted price for the benchmark grade west texas intermediate to 1750 dlrs bbl
year net includes pension gain 3455000 dlrs vs charge 5502000 dlrs due to change in pension accounting
although i can sympathise its occurred for only a few weeks or months in japan the tarriffs announced on friday by president reagan will affect about 300 million dlrs worth of products only a tiny fraction of japans total exports to the us even so reagans decision doesnt give us any joy
italys ferruzzi takes over spanish mill
under the louvre accord west germany and japan who both have large trade surpluses pledged to boost their economic growth to take in more exports from the us while the us agreed to stop talking the dollar down
the debentures are convertible into the companys common stock at 4050 dlrs per share representing a premium of 2558 pct over the stock price when terms on the debt were set
the us agriculture department projected chinas 1986 87 wheat crop at 9030 mln tonnes vs 8850 mln tonnes last month
and each bank using its own model put the implicit volatility needed for its own issue at close to 25 pct
the surplus has boosted foreign exchange reserves to 50 billion dlrs which wang said made taiwan a target for us protectionism
they will be sold both in belgium and abroad
stanley works swk makes acquisitions
in other action jacobsons directors approved an increase in its quarterly dividend to 11 cts on a post split basis payable april 14 record march 30
japan has stopped dumping chips in the us but it has failed to open its domestic markets to us made chips and has failed to end predatory pricing in third world countries undercutting us products he said
period ended feb 28 shr profit five cts vs profit four cts net profit 191000 vs profit 108000 sales 6561000 vs 5896000 nine mths shr loss 28 cts vs loss 40 cts net loss 871000 vs loss 990000 sales 9310000 vs 8894000 avg shrs 3086386 vs 2465996 note full name is american nursery products inc
danforths concerns that the special committee did not have sufficient time were expressed to walters in a telephone conversation and reiterated in a letter from counsel on monday of this week
dutch port and transport union fnv has called off the strikes against planned redundancies that have hit rotterdam ports general cargo sector for the past eight weeks strike leader paul rosenmuller told a mass meeting
a new canadian dollar issue for hydro quebec was seeing excellent demand sector specialists said and the issue was quickly increased to a total of 150 mln dlrs from 125 mln
in the longer term capital expenditure will amount to 10 pct of net sales
group shr 2420 yen vs 3742 net 1095 billion vs 1546 billion pretax 2525 billion vs 3115 billion operating 2839 billion vs 3173 billion sales 59237 billion vs 59386 billion note no forecast for current year
seal sinc acquires ademco ltd
it said the downgrade reflects the substantial increase in the companys debt in order to finance the acquisition and the risks of assimilating such a relatively large acquisition
the first boston corp morgan stanley and co inc and painewebber inc are underwriting the issues the company said
federal law requires individuals or groups of individuals who have made shareholder agreements to disclose stakes in companies of at least five pct within 10 days
payment date is march 30
cibas vision group will be headed by james macdonald president and chief operating officer
the increase in mature palm tree areas in malaysia will slow down from this year on but that will be offset by area expansion in indonesia he said
he said the economy would have suffered more from the world economic recession if the government had not devalued the rupiah by 31 pct last september
grade 92 octane will be 902 cents against 876 previously
the company also said its long term debt was reduced by about 15 billion dlrs from the third quarter to the end of the year by asset sales and equity offerings
taiwan buys 32000 tonnes of us soybeans
amc amo studying chrysler c proposal
oper shr 40 cts vs 47 cts oper net 2292000 vs 2688000 sales 819 mln vs 789 mln nine mths oper shr 120 dlrs vs 140 dlrs oper net 6842000 vs 7978000 sales 2447 mln vs 2342 mln note 1986 net both periods excludes 2223000 dlr special charge
the shipment is part contract signed in february for the saudis to supply brazil with 125000 barrels per day until june
net attributable loss 1714 mln dlrs vs loss 873 mln sales 22084 mln vs 17350 mln other income 1777 mln vs 1202 mln shrs 66667 mln vs same
fears about the irish economy exacerbated by recent post electoral political wrangling in dublin prompted a sell off of ireland paper this morning with both dollar and mark denominated irish issues tumbling by a full point or more
a spokesman for the mining house said the action started on wednesday last week when thousands of miners staged a go slow at one underground shaft of the free state geduld division of free state consolidated gold mines ltd fscnj the action later escalated into an underground sit in at the mine over the weekend prompting management to close the affected shaft because of what the company described as the creation of unsafe working conditions anglo american spokesman john kingsley jones said the company held talks with the national union of mineworkers num south africas biggest trade union which claims a membership of 360000 black workers but failed to establish the cause of worker dissatisfaction
share analysts said they expected boliden to announce it will be taking over the us allis chalmers corp aho but company officials refused to confirm the reports ahead of the news conference
the diversity and depth of bhp golds portfolio give the company a sound foundation in current gold production and an exciting potential for growth he said
gti corp gti 4th qtr oper net
the managements doing a very fine job in trying to deal with the non strategic assets of the company rose said
the 300 mln dlr issue is callable at par after seven years the company said
the central banks monetary policy has already done its part in stimulating the economy the senior bank official said
waste recovery inc wrii 4th qtr net
biotech capital corp said it agreed to buy high technology magazine from the goldhirsh group of boston
douglas said the present scale of the public debt was massive
currency moves may be hurting world trade
dixons retains one mln woolworth shares a dixons spokesman added
he would not comment on a successor
the whole game is bringing out new products and improving the old ones analysts say the chemical industrys biggest customers automobile manufacturers and home builders that use a lot of paints and plastics are expected to buy quantities this year
homestead financial corp said it has increased the dividend on its class a common shares to 6 1 4 cts a share from five cts prior while declaring an initial dividend on its class b common stock of 3 3 4 cts a share
first american bank for savings fambo 3rd qtr
i see no evidence that the philippine government even contemplates doing that
central ill public service cip 1st qtr net
dumez has 478125 united westburne uwito shares
the junior subordinated discount debentures to be issued in the merger will carry a 13 pct coupon and will begin paying cash interest after five years
the credit will be transferable and carry interest at 1 1 8 pct over the london interbank offered rate
photronics corp phot year feb 28 net
energy minister arturo hernandez grisanti said wednesday the cost would be 33 mln dlrs in cash plus an additional 60 mln in crude and refined oil shipments
the current mission is not involved in that area but there are plans to buy substantial amounts of cotton from the us he noted his country is clearly not as open as the american market
but yesterdays statement by seven leading industrial powers endorses the yens rise from around 153 to the dollar the level at the february 22 paris accord to about 145 today
hard red spring wheat accounts for most acreage with 60 mln estimated for this year little changed from last year
for the week ended march 29 there were an estimated 77000 boxes of early and midseason and 945000 boxes of late season oranges harvested the usda said
investment group raises robeson rbsn stake
haitian cane planters protest sugar mill closure
quaker oats acquired vernells in august 1986 when it purchased golden grain macaroni co
cocoa butter imports rose slightly to 1699 tonnes from 1507 while exports fell slightly to 6211 from 6293 tonnes
the 22 month old administration has cut repayments to 10 pct of export earnings on nearly all its 144 billion dlr foreign debt
sullivan said some may assume the fed has firmed policy modestly to support the dollar because net borrowings in the two weeks to wednesday were nearly 400 mln dlrs after averaging around 250 mln dlrs over the previous two months
since only banks can buy another bank the only other possible acquirors would be a foreign bank alpert said
westinghouse electric corp 1st qtr shr 105 dlrs vs 88 cts
kaunda dismissed central bank statements the new auction system would be used to allocate foreign exchange to private bidders but not to fix the exchange rate
since february 1985 the dollar has nearly halved its value against the yen and the mark as part of an officially orchestrated campaign to make us goods more competitive on world markets and redress gaping world trade imbalances
fees comprise 1 1 2 pct selling concession and 1 2 pct each for management and underwriting
the selling concession is 1 1 4 pct while management and pays 1 4 pct and underwriting 3 8 pct
it said the buyer has placed 250000 dlrs into an escrow account as a nonrefundable deposit
the transaction is conditioned on allieds pending merger with the vons cos inc
a seven year credit facility for salomon sa the french ski bindings and boots maker will have a facility fee of 75 basis point banking sources said
the conversion period is from may 20 1987 until september 20 1992
moi said kenya had so far met all obligations regarding its foreign debt which his government has never tried to reschedule
sugar which ec producers plan to sell into intervention may be offered by the european commission for sale within the community broker c
one said that the companys proposal was equivalent to a japanese company wanting to take a stake in mercury international the subsidiary of cable and wireless that is the only real competitor of british telecommunications plc btyl british corporate affairs minister michael howard leaves for japan on saturday
qtly div 18 cts vs 18 cts prior pay april 30 record march 26
white house welcomes retail sales figures
tonights american petroleum institute oil inventory report is expected to show another drawdown in distillate stocks of between two and 75 mln barrels for the week ending march 20 oil analysts and traders said
the vessel has retained some power and yesterday evening was in position lat
petroleum 1849 mln dlrs vs 4724 mln minerals 2546 mln vs 2410 mln steel 1482 mln vs 1911 mln corporate items and investments profit 306 mln vs loss 758 mln
the sources said they believe the committed four year revolving credit the largest of its kind in the euromarkets carries a facility fee of 1 8 pct and that drawings will be at 1 8 pct over the london interbank offered rate libor morgan guaranty trust co of new york which is arranging the financing in conjunction with its london operation was not available to commment on the terms
qtly div 35 cts vs 35 cts previously pay april 17 record march 31
delegates from 23 countries are attending the talks of the world trade body in the new zealand resort of taupo
it is not a question of monetary conditions if domestic demand does not grow strongly he said noting that interest rates are at historically low levels and funds are ample
the group had proposed a takeover of hecks in september but later withdrew the offer and hecks on march 5 filed for protection from its creditors under federal bankruptcy law
allied bancshares albn downgraded by moodys
the closer to that stage the more vulnerable the head of the wheat is to cold weather he said
the company said its new posted price for west texas intermediate and west texas sour is 19 dlrs a barrel while light louisiana sweet is now 1935
the tax reform act of 1986 will have a substantial impact on continental illinois corp the companys annual report says
the sources said the world bank wanted respected private sector individuals to be appointed to the apt and immunity from prosecution for the trust
shr 100 dlr vs 34 cts net 169 mln vs 5696000 revs 3713 mln vs 3032 mln avg shrs 169 mln vs 163 mln nine mths shr 355 dlrs vs 166 dlrs net 593 mln vs 271 mln revs 102 billion vs 9128 mln avg shrs 167 mln vs 163 mln
matsunaga also advised that the prime minister should be prepared to discuss us japan economic issues
tehran radio quoted irans top defence spokesman ali akbar hashemi rafsanjani as saying yesterday that washington was moving to the brink of an armed encounter with us the us is increasing its gulf fleet from seven to 10 warships and sending the refurbished battleship missouri to patrol just outside the strait of hormuz
analysts said ballys decision to offer shares in the unit could be the first step to selling it
the manufacturing groups continued to post advances while goods production rose 16 pct the third increase in the last four months
it was one of the four swedish banks which last month agreed to advance the group 110 mln crowns to solve its immediate liquidity problems
the bank said at that stage that it was not opposed in principle to when issued trading developing in bonds in the period between the announcement of full details of the auction and the auction itself as in the us however when issued trading is prohibited under the rules of the international stock exchange formerly the london stock exchange and would require an amendment in order to proceed
these would ultimately pay up he said
however the sources said the real test of saudi arabias ability to sell crude at official prices in a weak market will come this month when demand for petroleum products traditionally tapers off
ec sources noted that under a tender system maize from outside the us would sometimes be offered on more favourable terms than that from the us no commission spokesman was immediately available for comment
fees comprise one pct selling concession with 55 basis points for management and underwriting combined
sorghum season begins sept 1
in a letter to shareholders in its 1986 annual report the regional bell company did not indicate the degree of earnings dilution it expects from the acquisitions which total some 138 billion dlrs
at the beginning of the conference the fourth such meeting in nearly two years xuto said it was imperative to settle those issues this week so that technical drafting work can be done next week
terms of the contract were not disclosed but kellogg said the total cost of the plant will be 300 mln dlrs
millipore mili acquires equity in protein
iraq said today its troops were pushing iranian forces out of positions they had initially occupied when they launched a new offensive near the southern port of basra early yesterday
the united states may soon ease its 1987 sugar import quota of one mln short tons by bringing forward to the third quarter some shipments scheduled for the fourth quarter of 1987 jerry huckaby a leading congressman representing sugar growers told in an interview
gerber grb buys gerber systems gsti shares
panteras corp said it closed on its agreement to acquire ten pizza restaurant locations in southeastern colorado
sales of oil and condensate averaged 1586 dlrs per barrel last year down from 2741 dlrs per barrel in 1985
stone container establishes one billion dlr bank credit facility
1985 4th qtr and year net includes 51 mln dlr and 134 mln dlr provision respectively for possible losses
business sales fell 201 billion dlrs or 45 pct in january to 42875 billion dlrs after rising by three pct in december to 44882 billion dlrs
five mths end may 31 shr 137 dlrs vs 138 dlrs net 752 mln vs 736 mln revs 6323 mln vs 6296 mln avg shrs 549 mln vs 534 mln 12 mths shr 319 dlrs vs 313 dlrs net 1736 mln vs 1651 mln revs 143 billion vs 147 billion avg shrs 544 mln vs 528 mln
the government of prime minister anr robinson is hoping to lue new investors to the twin island states petrochemical industry in order to make use of new findings of natural gas
japan will pay five pct less for the indian iron ore it imports in fiscal 1987 88 starting april 1 than the average 18 dlrs a tonne it paid in 1986 87 a government trade official told 
monsanto chemical company a unit of monsanto co mtcn is to acquire the polyphenyls business of rhone poulenc chimie a unit of rhone poulenc rhonpa monsanto said in a statement issued from its european headquarters
in the united states revenue in guilders from health and life insurance was lower
harper international inc hnt 3rd qtr jan 31
proceeds from the sale will be used to finance capital investment and the promotion of productive investments and exports designed to strengthen the countrys balance of payments the government said
poehl said germany had practically no growth in the past six months because of the marks surge and the cold winter
pillsbury said corporate expense showed a 43 mln dlr profit in the quarter reflecting a 105 mln dlr gain on the sale of a joint interest in an australian food company and lower corporate expenses largely as a result of an early retirement program initiated a year ago
shr 30 cts vs 30 cts net 1804000 vs 1800000 nine mths shr 89 cts vs 79 cts net 5334000 vs 4496000
the decision is up to the rhode island legislature
northeast eastern thailand face severe drought
the decision was based on among other things the advise of its financial advisors goldman sachs and co that the offer of 145 dlrs per share was inadequate
the agreement between the us and the european community ec on special imports of maize and sorghum provides an equal chance for all non ec countries to supply the spanish market an ec commission spokeswoman said
it said in a statement the stabilisation of crude oil prices and the organisation of petroleum exporting countries efforts to achieve further firming of the price led to growing inflationary pressures in the us the worlds biggest crude oil producer
it is not callable until 1992 unless the share price exceeds 130 pct of the conversion price
1985 net includes gain 4800009 dlrs from reversl of recapture taxes
the dow chemical co said its engineering thermoplastics department will increase the selling prices of standard grades of magnum abs resins by three cts per pound
french inflation confirmed at 02 pct in may
for the two month period ended february 28 1987 it said the amount of the reduction would amount to 19 cts per share
mercantile bank na mtrc raises prime rate
the payment date is may 6 and there will be a short first coupon period
natural gas will have the opportunity to become an increasingly important part of the worlkds energy supply mcivor said
some traders here said the total could be more
simex is likely to try to maintain its growth by moving into options soon but competition continues regionally as well as globally banking sources said
nine us bondholders sued china for repayment of the loan in 1979 less than a year after the normalization of relations between washington and peking
the company said it expects to file with the sec within the next two to three weeks
gencorp says it expects to complete sale of wor tv this week all challenges resolved
inland vacuum inc said is board proposed a two for one stock split payable to shareholders of record april 30
the quake on thursday which registered six on the 12 point mercalli scale killed at least six people and was centred near the reventador volcano about 90 km 50 miles east of quito
rotterdam grain handler says port balance rose
the grain companies are trying to get this fired up again an aide to agriculture secretary richard lyng said
out of this traders in the uk received 43500 tonnes in the netherlands 12000 in denmark 4000 and in west germany 1000 tonnes
he said there was no oil spill but the ship is lodged on rocks opposite the hope creek nuclear power plant in new jersey
shr 98 cts vs 63 cts net 2602000 vs 1571000 loans 8348 mln vs 7290 mln deposits 104 billion vs 9421 mln assets 115 billion vs 102 billion
the 1986 net loss was on a pro forma basis newmont said
a group of new york investors said it lowered its stake in rospatch corp to 170250 shares or 70 pct of the total outstanding common stock from 202108 shares or 83 pct
chile china to establish peking copper plant
american stores co asc 4th qtr net
the pact also calls for repayment of the debt over 12 months and the application of cash proceeds from the sale of its black fin yacht corp unit
total m2 and local m2 rose 320 pct and 249 pct respectively from february 1984
fleet financial group said that its board and the board of norstar bancorp have agreed to merge the two bank holding companies in a transaction which would create a 23 billion dlr asset bank holding company
the government must announce harsh cuts in spending in its may 14 economic statement if it is to give an adequate response to australias economic problems the anz banking group ltd anzas said
operating income derived from electric operations in the first three months of 1987 is estimated to be eight mln dlrs while the contribution from gas operations will be about 10 mln dlrs green said
the figure which excludes construction and public works put the january index base 1980 at 99 after 101 in december
overnight interbank sterling was being offered at eight pct shortly after the banks announcement
italian panel urges exchange liberalization
other constraints were capacity 11 pct and labour nine pct the survey said
japanese crushers bought 4000 to 5000 tonnes of canadian rapeseed in export business overnight for may shipment trade sources said
the three day meeting was dominated by the dispute and by the failure of brazil and its creditor banks to make any breakthrough on debt talks after brasilia suspended interest payments last month
the transaction is expected to be completed in april and is subject to regulatory approval
pending its deliberations harper and rows board has postponed indefinitely a special meeting of stockholders that had been scheduled for april 2 to discuss a proposal to recapitalize the companys stock to create two classes of shares with different voting rights
further us demand could be sluggish because winter the period of greatest consumption is ending
atlanta ga based neptune which makes water meters and flow measurement equipment had sales last year of 80 mln dlrs
it added it expects to close the deals on june 18 and 19 subject to standard closing conditions including title and environmental approval and closing of a definitive agreement
the post and telecommunications ministry has said it wants only one competitor to kdd and has backed watanabes efforts
the saudi figures include a 200000 bpd share of neutral zone production
santa fe southern pacific owns the santa fe railroad and holds the southern pacific railroad assets in trust while awaiting federal approval of the merger plan
a third el paso gas a subsidiary of burlington northern bni has expressed no interest
barris ind
the unadjusted consumer price index for the tokyo area base 1985 in mid march rose 04 pct from a month earlier to 1006 reflecting higher vegetable prices
uk oil industry said not permanently damaged
withdrawal from the showa aluminium industries kk joint venture had been recapitalised in expansion by the new zealand aluminium smelters ltd project with japans sumitomo aluminium smelting co ltd permitting repayments and increases in liquid funds totalling 165 mln dlrs it said
allis chalmers said its only alternative to the plan is bankruptcy
sonex research inc said its modified 1986 british ford escort passed the european emissions test but reported the engine consumed 35 pct more fuel than the stock engine
commerce had ruled that one major brazilian producer cutrale would be excluded from the anti dumping duty
harcourts bid was preceded by an earlier 34 dlrs a share bid by theodore cross
schilling lending had grown last year and interest rate margins had also improved but remained unsatisfactory when compared with those in other countries he said
a spokesman for one of the companies toshiba corp tsbat said his firm would do just that and could announce its plans in the next week or so
dataproducts corp said it signed a letter of intent to acquire the imaging solutions inc unit of reliance electric co under undisclosed terms
it said it expects a number of the units 100 employees will be offered positions with donaldson
plans to retire or refinance high cost debt should improve the companys credit quality s and p added
us treasury secretary james baker met west german finance minister gerhard stoltenberg and bundesbank president karl otto poehl in frankfurt on monday a bonn finance ministry spokesman said
tonka corp said it expects results for its fiscal first quarter to end april four to decline from the record earnings of 38 mln dlrs or 57 cts a share and revenues of 532 mln dlrs
1986 net both periods includes 191 mln dlr provision for future losses from several major projects in defense contractor subsidiary
if further dollar declines are needed this could diminish overseas investment in us debt brusca added which might necessitate higher interest rates and lower bond prices
toll tol in stock split public offering
japan security pacific has assets of 200 mln dlrs
burlingtons stock rose sharply this morning on the report which said dominion textile had joined with us investor asher edelman to buy a stake in the company and to consider making a takeover offer
mees said the price adjustments arrived at through negotiations between the omani oil ministry and companies concerned are designed to compensate for the difference between market related prices and the official price of 1763 dlrs per barrel adopted by non opec oman since february
microsemi corp a supplier of semiconductor products and assemblies said it has acquired the operating assets of hybrid components inc for 22 mln dlrs in cash
most japan firms not renewing iran term contracts
centre national des caisses depargne et de prevoyance cencep said it is issuing a 19 billion franc two tranche 12 year domestic bond led by caisse des depots et consignations
corroon and black cbl completes acquisition
all are to be completed during the second quarter of 1987 it said
tomorrows topics include savings and investment issues such as consumer credit and housing and the implications of government budget deficits
giordano was in sydney to start an asian pacific tour by exchange executives promoting the hedging benefits of the exchange trade currency option market against existing over the counter option trading during the local working day
they were down 116 pct from february 1986 the department said
last years imports were 253 billion dlrs against 181 billion dlrs in 1985
flour exports through rouen rose to 23457 tonnes in the 25 day period from 5500 in the equivalent 1986 period the sources said
itoh and co ltd have signed a letter of understanding to try and boost trade ties between the two countries the industry department said
securities managers said they expect the auction to go well again this time as securities houses will try to expand their inventories of tankoku on continuing good response from institutional investors
du pont dd unit to redeem notes
west germanys capital market liberalization program has stalled and bankers are worried it may take years for further reforms to be completed
financial corp of santa barbara said it has signed a definitive agreement to purchase stanwell financial the lending operations unit of mortgage banking company stanwell mortgage for undisclosed terms
inc is a spindle maker
however citicorp said in the 8 k filing that it is premature to make such a decision at this time in view of the fluidity of the situation and managements high confidence in the long term outlook for brazil brazils new central bank governor francisco gros met senior commercial bankers here on wednesday and citicorp said formal talks on brazils recent actions and future financing needs should begin in the near future citicorp said in the filing the issue will be re evaluated at the end of the first quarter the bank group continued if it is decided that these loans to brazil should be placed on a cash basis citicorp estimates based on existing interest rates that the impact in the first quarter would be approximately 50 mln dlrs after tax and for the full year would be approximately 190 mln dlrs after tax it added that these amounts include interest accrued in 1986 that has not yet been collected
petroleos del norte sa petronor runs a 45000 tonne a year plant in bilbao and cia espanola de petroleos sa cepsa plans to put a similar unit onstream next year in algeciras
german money market split on lower rate prospects
indian reserve bank tightens credit policy
the introduction of the new session will enable participants to trade overnight after taking account of singapore rubber prices because brokers and members who are designated by the kobe exchange are allowed to add the volume traded overnight to the new final session before the opening session starts next day the official said
weyerhaeuser principally a lumber products company said the forecast was made by the companys chief financial officer during a meeting of institutional investors in tokyo
winds today will be southwest at 30 to 60 mph but will become west to northwest tonight and saturday at 25 to 50 mph
interest rates remain unacceptably high in real terms gurria added
shr loss four cts vs loss six cts net loss 92917 vs loss 104038 revs 219 mln vs 5091000
met pro corp mpr 4th qtr ends jan 31 net
lukman put the overall opec output shortfall in february at 900000 bpd and said this was as a result of their firm determination to defend official selling prices of 18 dlrs agreed upon last december in geneva
he said the arguments cited by hughes yesterday for not doing the merger tend to be weak hughes said yesterday that as a condition of the merger it wanted reed tool and other businesses sold prior to april 22 the projected merger date
terms were not disclosed
we sympathise with the actions of the french west german and belgian traders and producers but we are not party to it a spokesman said
statistics canada reported that gross domestic product grew 31 pct in 1986 the fourth year of continuous expansion but down from 1985s four pct
foreign creditors may get permission to convert loan balances and short term claims into equity investments in south africa
union officials believe a new bid for the monopoly beet processor is now likely
world bank loans uganda 13 mln dlrs
the company said the product with the generic name of sucralose is made from sugar and tastes like sugar but is about 600 times sweeter
however australias output is estimated to rise to 90 tonnes this year from 735 tonnes in 1986
it said talks are in progress with united western with regard to the repayment terms of the loan
petrol station owners in four states also continued their shutdown and there were fears that the combination of the two stoppages could lead to a serious fuel shortage
western digital corp said it plans to call for redemption on april 6 all of its approximately 47 mln dlrs principal amount of 6 3 4 pct convertible subordinated debentures due 2011
dunhill holdings plc a subsidiary of rothmans international plc rotl has appointed chemical bank international ltd as sole dealer for a 50 mln us dlr and sterling commercial paper program chemical said
he said a meeting of the opec differentials committee had been postponed because there is no need for the meeting he did not elaborate
bilfinger und bergers us units took up 600 mln marks of its total foreign construction output
siemens ags siegf fully owned subsidiary siemens informations systems inc
they will not be easily deterred and let me stress for you that our commitment there is not going to be risk free or casualty free he said the most likely iranian response would involve terrorism or the laying of mines
industrial production excluding construction and adjusted for the number of working days fell 15 pct in december from year earlier levels the national statistics office said
rumors that new york investor asher edelman has acquired a stake in polaroid corp and optimism about tomorrows status hearing on the patent infringement suit pending with eastman kodak co ek sent polaroids stock higher traders said
the bank of england said it provided the money market with assistance of 104 mln stg in the afternoon session
in contrast to the last two years more competitive exports boosted by the fall in the dollar should help gnp growth
div is unfranked and thus will not be tax free under dividend imputation
currencies better reflect fundamentals baker
the increase brings the prices for one pct sulphur to 2130 dlrs up 20 cts two pct sulphur 2085 dlrs up one dlr 22 pct sulphur 2050 up 125 dlrs and 25 pct sulphur 2025 dlrs up 145 dlrs it said
lvi group inc said it has agreed in principle to purchase all outstanding shares of spectrum holding corp for a proposed 13 mln dlrs in cash
the high regulatory environment has delayed life insurance firms diversification
buttrose said he expected a march deficit of around 900 mln dlrs and added any figure under a billion dollars will be acceptable to the markets anz banking group ltd anzas senior economist ian little said the big question was whether the improvement in exports could be sustained
he also expects the company to raise its annual dividend about 20 to 30 cts a share from its current dividend of 320 dlrs a share and a stock split is possible but it has a low probablility
among canadas largest oil companies class a shares of imperial oil ltd imoa 70 pct owned by exxon corp xon is trading at 71 up from a 52 week low of 34 3 4
shr 58 cts vs 29 cts net 3141000 vs 1440000 sales 247 mln vs 130 mln
bush industries inc said it expects higher earnings and sales for 1987 partly due to efficiencies in manufacturing that have improved its margins
if and when a final position comes out of the icco talks one will still have time to put on positions
official sources said the bank frances sixth largest in terms of its deposits and seventh in terms of its assets planned a share split to increase the number of shares on offer ahead of the sale of 40 pct of its ordinary share capital to the public of 10 pct to staff and 20 pct abroad
bennett who is leading one of three soybean producer delegations on a lobbying tour of ec capitals was speaking at a lunch
comdata said it has not yet reached a definitive agreement with mason best co for the previously announced recapitalization and self tender offer
as previously reported dome is seeking approval in principle for the debt restructuring plan
naturally that would mean a sharp bond price fall
harleysville group hgic seeks to acquire firm
amt had until march 26 to lodge its appeal
miller attributed the expected loss to completion of the purchase transfer and consolidation of operating assets of the osullivan rubber division saying this was proving more costly and taking more time than originally anticipated
the transaction was opposed by a group of portsmouth investors who wanted the bank to remain independent according to press reports
under these programs the company systematically buys back shares in the open market to replace shares issued under its stock plan and acquisition earnout agreements
the months ahead will prove critical as the government attempts a balancing act between defending higher oil prices and fostering recovery through a bigger role for the private sector
they said the real price of oil would stay at 15 dlrs a barrel for several years and i think they beat a hasty retreat from that point of view margoshes said
the bank of finland called a news conference at 1200 gmt to announce new measures for the development of the system of monetary control a spokesman for the bank declined to give further details
excel bancorp xcel sets initial dividend
a spokesman for the state chilean copper commission in santiago confirmed there had been no damage at chuquicamata
gmac to launch euro note program april 7
tseng laboratories inc tsng 4th qtr net
the letter of credit would ensure payment of princevilles contingent subordinated notes to be distributed to shareholders of record on the day immediately following completion of qintexs tender for 3300000 princeville share
ltx corp ltxx 2nd qtr jan 31 loss
it said results from its bridgewater newsprint mill in the uk should improve greatly this year due to stronger capacity and production and more favorable market conditions
if japan for example does not reduce its barriers by mid 1988 the united states would set import quotas or tariffs to cut japanese surplus by ten per cent a year for three years
texaco tx reserves down despite lower output
us secretary of state george shultz warned members of the association of southeast asian nations asean they could no longer rely on increased exports to the us for growth
the federation of bankers associations of japan released its proposal for early creation of a comprehensive financial futures market in tokyo
the cumulative preferred stock will become convertible with voting powers to an equal number of common shares following the us government approvals
federal realty investment trust is issuing a 75 mln dlr convertible eurobond due april 30 2002 paying an indicated coupon of 5 1 4 to 5 1 2 pct and priced at par lead manager salomon brothers international said
the following proposed securities offerings were filed recently with the securities and exchange commission general instrument corp grl offering of 150 mln dlrs of convertible subordinated debentures due 2012 through an underwriting group led by lazard freres and co dillard department stores inc ddsa shelf offering of up to 100 mln dlrs of debt securities including debentures and notes and a shelf offering of another 100 mln dlrs of debt securities by its dillard investment co inc subsidiary both through goldman sachs and co
however he said he would prefer to leave the tax rates enacted in last years tax reform bill unchanged
there is evidently a common interest in the matter he said
sumner will be president of the combined unit crossland said
imports of soybeans would be unaffected because they are imported primarily to satisfy the ecs cakes and meals requirements which are not covered by the stabilising system
oil prices said now based on futures price
us dlrs 598 billion vs 447 billion other foreign currencies 371 mln vs 3199 mln gold 8740 mln vs 8641 mln special drawing rights 1918 mln vs 1886 mln imf reserves 6897 mln vs 7057 mln
principal payments will be deferred with semi annual payments of 175 mln dlrs to start on dec 31 1989 and all remaining principal due jan 1 1991
wickes cos inc said its board authorized a one for five reverse stock split and plans to call the companys its 12 pct senior subordianted debentures due 1994
marathon petroleum co said it reduced the contract price it will pay for all grades of crude oil one dlr a barrel effective today
opec output in may seen over ceiling at 17 mln bpd london june 1 opecs may output appears to have risen well above its 158 mln bpd ceiling to 17 mln bpd and the increase is likely to put a short term lid on spot oil prices kleinwort grieveson securities says
bayou international ltd said it purchased one third of the outstanding stock of solmecs corp nv a netherlands antilles corporation for 1750000 dlrs
this takes the banks total help today to some 137 mln stg and compares with its latest forecast of a 150 mln stg shortage
in testimony before a house appropriations subcommittee baker said that he had given that message to brazilian officials earlier this month when they met for talks in washington
the weakness of the west german economy is the biggest single factor with import growth there expected to feature a sluggish 35 pct growth in 1987 against the 65 pct forecast in december the eiu said
regency electronics inc rgcyo 1st qtr net
sept 30 end shr loss 38 cts vs loss three cts net loss 3300000 vs loss 205000 revs 634 mln vs 721 mln avg shrs 8966000 vs 9741000 note 1986 first quarter results include 398000 gain from repurchase of debentures that had been discounted below market value
maybe theres a need to move faster one source said
they said french west german and dutch officials had informed the committee that traders in their countries intended to sell just over 850000 tonnes of sugar into ec intervention stocks
the march unemployment rate was the lowest since march 1980
the bank of england said it provided the money market with a further 168 mln stg of assistance to help offset a shortage it now estimated at 105 billion stg revised down from 110 billion
he attributed the export decline to the rise in the taiwan dollar which has eroded the competitiveness of the companys products against those from south korea
opec agreed last december to limit production to 158 mln bpd and return to fixed prices averaging 18 dlrs a barrel
ferruzzi plans to set up a sugar division and import some 30000 tonnes of industrial sugar from its french factories in its first year of operation
imports fell to 768 billion rupees provisional in february from 819 billion final in january and compared with 684 billion in february 1986
selling of buffer stock rubber had levelled off during the past week to 10 days and this could reflect a wait and see attitude by buyers he said
pakistan gets 70 mln dlr world bank loan
four ships are currently loading 32000 tonnes including 24000 for egypt 6000 for tanzania and 2000 for mauritania
the diw repeated earlier predictions that gross national product gnp in the first quarter of 1987 would contract in real seasonally adjusted terms against the weak final quarter of last year
terms of the transaction were not disclosed
shr loss 45 cts vs loss 134 dlrs net loss 1240000 vs loss 3621000 revs 6264000 vs 4626000 year shr loss 90 cts vs loss 201 dlrs net loss 2487000 vs loss 5406000 revs 208 mln vs 217 mln
saudi arabia bought 5000 tonnes of refined bleached deodorised palm olein at its import tender yesterday for april 16 25 shipment at 353 dlrs per tonne cost and freight jeddah traders said
the budget has been delayed by opposition boycotts of parliament to protest government plans for a new sales tax
ec grants 25000 tonnes barley 80000 french maize licences rejects wheat traders
energy goods at the intermediate stage of processing rose 27 pct in february after rising 35 pct in january and were down 161 pct over the past 12 months the labor department said
one dealer at a german bank said the wording of the communique made clear the leading nations did not want a further dollar drop and this was supporting the dollar
dri forecast that inflation which was an average 63 pct in 1986 will be under five pct this year and that interest rates should drop two pct
brazil soy harvest 13 pct complete newsletter
thermo process systems inc said it completed its purchase of thermo process services inc a subsidiary of thermo electron corp tmo thermo process systems said it issued 2590000 shares of its common stock to thermo electron in connection with the sale
we must encourage research now in order to make synfuels competitive later hall said
exports in the first four months of 1987 were around 639 mln dlrs and imports 6283 mln compared with 771 mln and 500 mln respectively in the same period last year
unitel video shareholder proposes possible sale or liquidation of company
non callable to maturity the issue is rated aa 2 by moodys investors service inc
partly offsetting these outflows exchequer transactions and bankers balances above target will add some 380 mln stg and 35 mln stg to the system respectively
singapore petroleum co pte ltd will revise pump prices of petrol from june 2 an official said
the cray x mp 24 will replace a cray x mp 12 supercomputer in operation since 1985 it added
renouf managing director mike cashin said in a statement it had been renoufs intention to build up a long term strategic position in nzi
peter valli vice president of borg warner corp and president of its industrial products division will become president and chief executive officer of the new company according to clayton
it recognised that such arrangements may in certain circumstances reduce credit risk and wish to encourage their further development and implementation and said some of the current proposals may be changed to take this into account
bethlehem steel bs debt downgraded by s p
the import price index rose 11 pct from a month earlier to 574 for the sixth successive month on month gain mainly due to the continued strength of world crude oil prices
it considered those conditions unreasonable in the interest of trying to negotiate a friendly transaction it said
countertrade accounted for just five pct of indias 2565 billion dlrs in trade during fiscal 1985 86 ended march against almost nothing in 1984 85 official figures show
the state owned cotton export corporation was likely to export 38 mln bales of cotton during the current fiscal year compared with 386 mln last year cotton traders said
the usda official said that as far as he knows there has been no further action on offering the soviet union wheat under the eep
renouf corp to proceed with benequity bh bid
the council said that in the talks canada is chiefly interested in minimizing the imposing of us duties against allegedly subsidized exports
standard and poors corp said it may downgrade chi chis incs 50 mln dlrs of b plus convertible subordinated debentures due 2009
it sounds like baker wants it and if people are convinced a deal is going to go through the stock goes up said analyst phil pace of kidder peabody and co
cineplex said the purchase price consisted of 225 mln dlrs cash and 652742 cineplex common shares
burns has resigned as vice president of manufacturing
president jose sarney rejected calls from foreign creditors and from some brazilian businessmen that the government talk to the international monetary fund
this was above market expectations for a 100 mln dlrs rise
the following proposed securities offerings were filed recently with the securities and exchange commission essex chemical corp esx offering of 60 mln dlrs of convertible subordinated debentures due 2012 through thomsom mckinnon securities inc and painewebber inc
under the new pact the adjustment under these circumstances will be five pct unless the council decides on a higher adjustment
but speculative pressures started to build again this week after baker was quoted on british television at the weekend as repeating earlier statements that washington had no target for the dollar
it closed at its best level since september 12 at 714 pct of its 1975 value on the index as foreign investors continued to buy into a currency which offers high relative returns and the possibility of short term capital gains dealers said
shr 95 cts vs 83 cts shr diluted 89 cts vs 80 cts net 2297842 vs 1782764 avg shrs 2408332 vs 2160000 avg shrs diluted 2573908 vs 2326667
most expect the economy to continue showing modest gains that the dollar has more room to fall and that the fed will keep policy essentially steady perhaps for several months
lone star said the 875 pct notes will mature on march 26 1992
however on this issue also lyng has taken a strong stand within the reagan administration arguing that the 1988 crop wheat acreage reduction should be left at 275 pct and not 30 pct as sought by the office of management and budget omb
commercial banks quoted the spot riyal at 37500 04 to the dollar after 37507 09 yesterday
alexanders alx 2nd qtr ends feb 27 net
he said the quality of five to six year old rubber in stock was uppermost in consumers minds
the bank which raised its rate for ordinary overnight assistance to 13 3 4 from 13 1 2 pct on wednesday opened its special borrowing facility for overnight funds at 14 1 2 pct
italy has over recent months announced a series of deregulation moves in response to a european community directive aimed at creating a genuine common market in goods services and finance by 1992
the financial rand was reintroduced in september 1985 to help end capital flight from south africa during a period of severe political unrest in the country
treasury secretary james baker while defending the progress of his 1985 debt initiative conceded that lending by commercial banks to developing countries has not gone as fast as the administration would have liked
wheat by class breakdown
medical care rose 03 pct in february to a level 71 pct above one year ago because of higher costs for prescription and non prescription drugs and medical supplies the department said
but he said us ships in the region were on routine maneuvers
citizens will pay a premium of 30000 dlrs to the fdic and purchase beaver creeks assets for 53 mln dlrs
it said the stock split will occur through a 50 pct stock distribution on hydraulics common stock payable april 30 to stockholders of record on april 3
but despite the sharp downturn on german bourses profits from trading on own account had increased in the first two 1987 months compared with the same year ago period
c and r clothiers inc jan 31 year net
viacom last week agreed to be acquired by national amusements for a combination of cash and stock with an estimated value of 53 dlrs a share or a total of about 34 billion dlrs
a voluntary compliance system for monitoring us coffee imports under quotas is viewed skeptically by many in the coffee industry said analysts and trade sources
but since then wall street has been speculating that american brands would find another candidate to help reduce its earnings exposure to tobacco
twa said it would refile today providing the information needed
limited shipping restrictions due to high water remain in force on parts of the west german stretch of the rhine river between the dutch border and the city of mainz but most are expected to be lifted this weekend
i think they are beginning to appreciate that if this relationship is to continue it is very important for them to be fair and open about access to their own markets on the question of the british firm cable and wireless plc cawll which is trying to win a significant share of telecommunications contracts in japan howard said he had told the japanese this was being widely regarded as a test case
they added they expect the bank to allocate between 40 and 45 billion guilders
ual ual may respond to pilots today
french trade with yugoslavia has grown little over the past two years
season for soybean cake and meal begins oct 1
in 1986 gulf states earned 2449 mln dlrs on revenues of 147 billion dlrs compared to profits of 2654 mln dlrs on sales of 185 billion in the previous year
in a filing with the securities and exchange commission robertson and his tiger jaguar puma and tiger management co entities said they bought 51600 capital wire common shares between feb 3 and 17 at 1325 dlrs a share
william reynolds chairman and chief executive officer of gencorp the company stated that if gencorp could prove the company was worth more general partners would be willing to consider an even higher price
oakwood homes corp said it filed with the securities and exchange commission a registration statement covering a 25 mln dlr issue of convertible subordinated debentures due 2012
federal funds which averaged 620 pct yesterday opened at 6 1 8 pct and remained there in early trading
dudley taft raises bid for taft broadcasting tfb 
credit fonciers 150 mln european currency units ecus of 7 5 8 pct eurobonds due 1994
uk authorities have lost patience with japanese trading practices and said they are seeking ways to retaliate without unleashing a damaging trade war
terms were not disclosed
the narrow measure of money supply m0 fell by a seasonally adjusted 06 pct in january and rose by a non adjusted 41 pct year on year the bank said
we have yet to fully benefit from our recent product announcements retirement incentives and other resource balancing measures and we expect these actions will have a more significant impact as 1987 progresses the company added
the bank of england said it revised up its forecast of the shortage in the money market today to around 500 mln stg from its initial estimate of 350 mln
the energy department study discusses several options to curb reliance on foreign oil but makes no recommendations
manufacturers mhc puts brazil on non accrual
texas air tex unit sells equipment backed debt
this is quite a normal situation
the price hike follows a round of crude oil price increases started late june 17 by sun co
but squibbs investment in cetus is the first it has made in biotechnology
the usda projected an average yield of 150 gallons of fcoj per box versus last months estimate of 147 gallons
owens corning fiberglas ocf sells foam unit
iranian tanker attacked over weekend lloyds
the bonus will be paid in the form of commodities from ccc stocks
two japanese steelmakers to cut capital spending
np energy npeeq says trustee appointed
the state owned krung thai bank ltd will start taking over state owned sayam bank ltd and complete the process in a year finance minister suthee singhasaneh told a press conference
shr 77 cts vs 37 cts net 135 mln vs 48 mln revs 708 mln vs 608 mln avg shrs 175 mln vs 129 mln note 1986 net includes gain of 18 mln dlrs from sale in dec 1986 of a 50 pct interest in its cellular telephone operations to bellsouth corp
s and p pointed out that resorts aggressive debt leverage is offset by the firms extensive real estate holdings in atlantic city nj affirmed were the b minus subordinated debt of resorts international and its financing unit
citibanks surprise base rate increase quickly followed by chase sent us bond prices lower and the dollar higher
arlan stangeland r minn and harold volkmer d mo have both expressed interest in expanding the english bill to include a 0 92 program for feedgrains
it is commonplace to have trades of 100 mln dlrs or more in 10 years seven years or five years all related to an interest rate swap or hedging of a eurobond deal jones said at a recent conference on the us treasuries market
swedens industrial production fell 18 pct during january compared with a fall of 08 pct the month before and remains unchanged compared with january 1986 according to figures from the central bureau of statistics
the company also said it will open two new reprographic centers in the washington baltimore area within the next three weeks brining the total there to 11 and a new downtown boston location in the same time period brining the number in the boston area to four
aristech chemical corp ars 3rd qtr net
clearing and delivery is through the facilities of the dutch central bank
the president of the ecuadorean red cross hugo merino told the official toll of 300 dead and 4000 missing could rise as rescue workers inspect stricken sites from helicopters and wade through mud to reach victims in the four northeastern provinces hardest hit
the convertible eurobond issue announced yesterday for genentech inc geneo has been increased to a total of 150 mln dlrs from 100 mln credit suisse first boston ltd csfb said as lead manager
an investor partnership seeking to acquire gencorp inc said it would attempt to unseat the companys board of directors and take other hostile actions if the firm refuses to discuss its 23 billion dlr takeover bid
saitama bank ltd is issuing 100 mln swiss francs of convertible notes due september 30 1992 paying an indicated 1 1 4 pct lead manager credit suisse said
london sugar freights
net includes gain from sale of investments of 64000 in qtr 1987 and 157000 vs 1231000 in nine mths 1987 vs 1986
attention in the money market is focused on tomorrows tender for a securities repurchase pact from which funds will be credited on thursday when an earlier pact expires draining 16 billion marks from the system
he said the companys backlog of sales deposits on feb 28 was 2416 an increase of 976 units over the previous year
conflicting economic indicators from the us have also been dampening market activity he added
a recent example was the 15 per cent duty the us imposed on canadian lumber exports on grounds the shipments were being subsidized
southam said the newspapers the herald the lance and metro one will be printed at its canadian publishers division in winnipeg
triquint makes gallilum arsenide integrated circuits
international coffee organization ico exporters will modify their new proposal on quota resumption before presenting it to importers tomorrow ico delegates said
the oecd said frances economic situation has deteriorated somewhat during the early months of 1987
mexico has no plans to leave ico
at the same time traders who are holding stocks and bonds saw the value of their investments falling and many are turning to commodities such as precious metals as a hedge said marty mcneill a metals analyst in new york with the trading house of dominick and dominick
late last month social affairs minister louw de graaf said unless the dispute was settled by yesterday he would withdraw the sectors 10 mln guilder annual labour subsidy
showboat sbo gets approval for low bet day
qtly dividend 28 cts vs 28 cts pay april 24 record april 10
ny traders expect china to step up sugar buying
what they are really doing is asking you to capitalize now to borrow money now to cushion you against risk you might have 10 years from now he added adds title first paragraph dealers also said they believe that banks not covered by the agreement such as those based in japan will have a competitive advantage because they will not have to pass the costs on to customers
a capel cure official told reporters the elimination of commissions has made the market more competitive
trade sources here confirmed earlier tentative reports that bangladesh had bought 200000 tonnes of optional origin feed wheat late last week and over the weekend
soviet sugar imports in october and november were significantly higher than in the same period of the year before according to figures received by the international sugar organization
mark iv said it also agreed at the meeting that if it decides to seek control of baird it would be through a negotiated merger or business combination or through a tender offer in which baird would have at least 24 hours notice
iea forecasts slower growth in oecd oil demand
bfg partial operating profits fall sharply in 1986
belgolux trade swings into january deficit
oil companies such as ashland oil inc ash the kentucky based oil refiner and marketer are also shopping for money making petrochemical businesses to buy
the farmers daily said a peasant in the ortheast province of heilongjiang could gross 108 yuan from one mu 00667 hectares of soybeans and 112 yuan from one mu of corn but only 70 from one mu of sugarbeet
prices for californias marker grade line 63 blend have slumped about 20 pct in the last month to 14 dlrs from a high of about 17 dlrs
printronix inc ptnxo 2nd qtr sept 25 net
feldstein one of four members of a task force on third world debt said that brazils request would mean an additional credit of three billion to four billion dlrs from banks and international agencies
dresser di to sell unit to rosenkranz and co
each warrant will entitle the holder to purchase 45 savings shares of efi banca at a premium of about 10 pct above the closing price on the milan stock exchange on or before march 17
he said the measures would include removal of trade barriers on insurance and inland services for us companies
during the remainder of 1986 87 supplies of most processed noncitrus fruit will be smaller than a year ago it said
bankamerica corps bac bank of america unit last week issued 400 mln dlrs of securities backed by credit card receivables via sole manager first boston
fmc corp said it has entered into an equally owned joint venture with indo thai synthetics called thai peroxide co ltd to build a hydrogen peroxide plant with an initial capacity of 5000 metric tonnes of 100 pct peroxide north of bangkok
asked about persistent speculation that the administration would offer moscow a wheat subsidy lyng said some people think theyre doing it to see if they can get a little spurt in the market agriculture undersecretary daniel amstutz last week asked the commodity futures trading commission to investigate reports that wheat prices were being manipulated by reports that a us wheat subsidy offer was imminent
leutwiler wants firmer mark against sfr
lawyers for samjens contended that painewebber and ammeen withdrew as potential advisers because burlington chairman frank greenberg had called a painewebber executive and threatened legal action if painewebber got involved in an effort to takeover burlilgnton
augar noted that a government imposed formula linking charges to inflation meant that the companys scope for raising prices was limited as long as inflation remains low
nazer said he was satisfied with the extent of cooperation from non opec producers
1987 nine mths net includes after tax gain of 73 mln dlrs or 42 cts a share on sale of remaining interest in the henley group inc and other related transactions which was partly offset by an after tax loss of 30 mln dlrs ot 17 cts a share for repurchase of high coupon bonds
crosby said that tuition levels from the management consulting service companys courses this month are at the highest level in the companys history
i as a shareholder wish to solicit initiate or encourage such an offer or indication of interest and believe therefore that i should resign as a director of the corporation gardner said in the letter
washington will have to take into account that for many countries and some of its allies for instance in central america a sharp fall in coffee export revenue would have far reaching political and economic consequences arango ruled out a fresh colombian initiative on export quotas saying producers had now to show a common resolve which could emerge from continuous contacts
private sources put 1985 86 production at a record 72 to 73 mln tonnes 42 to 64 pct lower than the new forecast for the current crop
europe 940 500 500 500 ussr 24327 25438 nil nil japan 27674 27878 524 210 china 4950 5550 nil nil taiwan 7910 8360 3900 1700 other asia and oceania 7217 6152 2500 nil africa 1250 1955 nil nil westhem 10505 11140 294 276 upland cotton in thousand bales 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk ec 2609 2661 979 950 other west europe 622 662 87 87 e
the company now has about 181 mln shares outstanding
pciac is a canadian government corporation providing assistance to countries like jordan to reduce their dependence on oil imports towe said
investment firm has 71 pct of cyclops ltcyllt 
weyerhaeuser wy offers preferred shares
record low coupon on sumitomo swiss convertible
pointing to the record 48 billion stg rise in uk may currency reserves announced today he said we have been playing a very full part ourselves we have been intervening to a very much greater extent than we had done hitherto lawson said there was a risk that the louvre agreement may falter if member states did not implement the macro economic commitments underlying the accord
fhlmc also has 100000 shares of common owned by the home loan banks
most paris dealers expressed disappointment at the communique saying nothing has changed to reverse the dollars downward trend
during 1986 the company cut operating administrative and marketing expenses by 91 mln dlrs and reduced the number of workers by 16 pct to 12500
objections to such loans have most often been raised by conservative republicans who have traditionally opposed us funding for these international development banks
the department said the bonus was 23391 dlrs per tonne and was made to international multifoods corp
about 91 pct of them have already done so but it may take some more time before all have confirmed their intentions the sources added
pentagon says us warships begin escorting gulf tanker convoy south from kuwait
canadian roxy petroleum ltd said a new oil discovery in the peerless lake area of north central alberta is capable of flowing at over 1000 barrels of oil a day from a lower zone and more than 1500 barrels a day from a separate upper zone
us commerce dept opposes foreign takeover ban
amcast acst completes sale of newman division
moodys downgrades gelco gel and units debt
argosystems is a clear leader in its field
consumer members accepted the proposal as a good base to work from one consumer delegate said
shr loss 18 cts vs loss 20 cts net loss 629527 vs loss 697847 revs 404345 vs 1558951 year shr loss 56 cts vs loss 181 dlrs net loss 1910063 vs loss 5744588 revs 5999377 vs 6347702 avg shrs 3441513 vs 3175402
weve looked at five or six different alternatives involving such things as flip flopping the trading rooms he added
brent walker shares firmed sharply on the announcement to 385p from 353p at fridays close while lonrho also firmed to 275p from 2655p
krupp says 2000 steel jobs to go this year
the company also said it intersected another vein 90 feet west of zone two which assayed 0531 ounces of gold a ton
the build up ties in with us plans to start escorting kuwaiti oil tankers next month which have been re registered to fly the american flag to give them naval protection
standard and poors said its major downgrades last quarter were of denmark usx corp x chase manhattan corp cmb and manufacturers hanover corp mhc it said the most negative influence on rating changes occurred in the financial institution sector where there were 22 downgrades versus five upgrades
brent walker group plc said it had agreed to buy the group of companies comprising lonrho plcs lrhol metropole casino division together with a freehold in central london for 12155 mln stg
peru registered a 16 mln dlr trade deficit in 1986 its first trade shortfall in four years a central bank statement said
the central bank intervened as a medium sized trading house sold dollars putting pressure on the us currency they said
economists said it appeared the government had already stepped up borrowing this year to accomodate revenue loss from other sources including tax losses resulting from weaker than expected economic growth and higher than expected spending
the european community is willing to offer limited concessions to the united states on one of two major issues which threaten to poison their trade relations next year an ec commission spokesman said
qtr ended march 31 net 268760 vs 235274 revs 721882 vs 575806 six mths net 472642 vs 464042 revs 1372453 vs 1059462 note per share data not given as not comparable to net figures which are before depreciation
the securities were long term high quality bonds mostly rated aa minus or a plus he said
electricite de france edf will make its first offering of euro commercial paper in the international market on monday edf chief financial officer daniel lallier said in a telephone call from paris
an easier monetary policy would not mean a loss of credibility for the bundesbank in its containment of monetary growth
we must be realistic about the immediate prospects for an expansion in voluntary commercial bank lending with the world bank playing an even more vigorous role in the debt crisis conable said in an interview with newsweek magazine
the bank of england said it operated in the money market this afternoon buying 226 mln stg in bills
dealers said that demand had been seen for the tap from both domestic and overseas sources including from japan and the us although the issue had not been designated as free of tax to residents abroad fotra widespread bullish sentiment for the market in general had generated foreign buying
weatherford international inc said it reached an agreement to restructure about 41 mln dlrs of debt held by bank and insurance company lenders
we sold high cost producing assets
he said last night sudan was 26 billion dlrs in arrears on debt repayments in the first half of this year
the number of new bankruptcies appears to be declining but saudi banks hit hard by non performing loans to the corporate sector have become highly selective in extending new credit
japan will ask companies to boost imports
in volume terms however 1986 sales rose slightly against 1985 the company said without giving details
proceeds of the offering will be used to refund the issues maturing march 25 1987 and to raise additional funds it said
jardine declines comment on hongkong land report
international orders increased with the greatest strength in europe honeywell said
audio video affiliates inc said it has filed suit against dixons group plc cyclops corp alleghany corp y and others in connection with dixons recently completed tender offer in which it raised its ownership of cyclops to 56 pct
non callable for two years the debentures are rated b 2 by moodys and b by standard and poors
however they said lawson would be prepared to see the pound go higher at least in the short term despite the risk of a loss of export competitiveness and cheaper prices on imports
security pacific spc registers debt
shr 450 dlrs vs 430 dlrs net 6374 mln vs 5885 mln revs 395 billion vs 410 billion avg shrs 1417 mln vs 1369 mln
britain also warned that the tax could hit developing countries already receiving aid from the ec they said
because more than half of the banks baulking at the mexican deal are american some foreign bankers think other us banks should make up the difference
the company had 165 mln shares outstanding prior to the offering
turkish trade deficit widens in 1986
the government which published the january unemployment figures today did not make any predictions
the french primary bond market is showing signs of renewed effervescence after several weeks of lethargy and the trend is expected to continue if hopes of imminent interest rate cuts are fulfilled market operators said
non official capital and balancing item showed a 36 mln dlr deficit against a 133 billion deficit in january and a 392 mln surplus in february 1986 the bureau said
it said other group members include jacksonville fla businessman jack c
the spokesman said that under current regulations the ec would have to accept all the offers if there were no technical problems
it will be necessary to maintain strict discipline on expenditure and members of this house will have to take the lead in encouraging wananchi ordinary people to be more frugal in satisfying immediate needs the president added
shr loss 52 cts vs loss 49 cts net loss 3142000 vs loss 2936000 sales 409 mln vs 401 mln note year ago share results adjusted for five for four stock split in august 1986
investor paul bilzerian disclosed he holds a 72 pct stake in pay n pak stores inc common stock and is considering seeking control of the retail building material firm
ford motor co neared general motors corp last year in executive bonuses while it topped the larger automaker in profit sharing payments to workers
but he denied there was pressure from the government for the spin off
rolls approaches float with profits set to rise
taiwan says us wants taiwan dollar to appreciate
the finance office added that 171 mln dlrs of the 1990 issue 1465 mln dlrs of the 1992 issue and 495 mln dlrs of the 1997 issue will be reserved for the federal reserve system and their own or customer accounts
this has been viewed with concern by some members who fear the inra may become indebted and ultimately face collapse like the international tin agreement
the amount was not confirmed but the talk was widespread through the trade
mcdonalds corp rose sharply today after receiving a second recommendation in as many sessions traders said
new certificates will be needed it added
diamond shamrock raised crude by 50 cts bbl today
icahn led twa was highly conditional usair said its board and that of piedmont aviation inc pie met separately yesterday to consider usairs offer to acquire 501 pct of piedmont for 71 dlrs per share and remaining shares for 15 to 19 common shares each valued at about 73 dlrs per share based on the average closing price of usair common during a period just before the merger
the lower psbr means the bank of england will have to offer far less new stock to the market to meet its funding needs and the scarcity factor is sure to drive prices up further analysts said
the fed is currently frozen into a fixed stance said economists at aubrey g
he said the current debt service ratio over 40 pct of export revenue was too high
sony corp posted net consolidated income of 4189 billion yen 290 million dollars in 1986 426 pct down on 1985s 7302 billion yen 506 million dollars but morita added that japan would benefit from the strong yen by saving on its energy import bill and he expected profits to recover from 1988 onwards
the court originally decided that the winding up petition went wider than the enforcement of such a debt an amt spokesman said
in november the index base 1980 stood at 1448 showing a rise of 43 pct on a year on year basis
systems for health care in one for 50 split
royal bank of canada said it estimates 1987 loan losses at one billion dlrs a 25 mln dlr increase over last year
companies that grew enough during the period to make the fortune 500 list included apple computer pacific telesis mckesson tandem computer us leasing and amfac
it also bought 378 mln stg bank bills and 13 mln stg of treasury bills in band two at 9 13 16 pct
speaking briefly to reporters following an address before the export import bank conable said that the bank had been urging the brazilian government to come up with a specific plan designed to work the country out of its present economic difficulty
in jamaica opec president rilwanu lukman who is also nigerian oil minister said the group planned to stick with the pricing agreement
oil minister vasily dinkov announced the figure on tuesday at the supreme soviet the countrys nominal parliament
masse told reporters that the governments oil industry aid package is aimed at small and medium sized companies
contracts for june delivery forward could open 25 to 50 cents lower while april will likely open about steady analysts said
iraq is estimated to have foreign debt of about 50 billion dlrs although about half is thought to be in the form of loans from its gulf arab allies particularly saudi arabia and kuwait
it is too soon to assess the extent of the damage but it is likely that northern west german crops are particularly at risk because of insufficient snow cover it said
the bank of france said it left its intervention rate unchanged at 7 3 4 pct when it injected funds in the market against first category paper in todays money market intervention tender
the japanese firm bid the notes at 98473 and set a coupon of 7 1 2 pct and reoffering price of 9875 to yield 46 basis points more than comparable treasury securities
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
the rate of unemployment fell to 66 pct its lowest level since march 1980 from 67 pct in february
germanys current account surplus widened to 663 billion marks in february from 479 billion in january but was down on the 726 billion figure for february 1986
such an increase would raise runs about 100000 bpd and add to us stocks
we have a very large population which is used to price stability and will object to price rises he said
the program was designed to get belgium out of what the government said was a snowball effect under which the government constantly borrowed more to finance budget deficits which were due largely to the cost of servicing and repaying existing debt
the officials who asked not to be named said yesterday that baldrige has serious concerns about the sale of fairchild semiconductor corp
maytag chairman and chief executive officer daniel krumm said the company plans a significant investment at its admiral refrigerator plant in galesburg ill as well as continued spending for product improvement and increased efficiency at other maytag facilities
based on average yields ec beet sugar production could fall nearly 10 pct this year to 135 mln tonnes from 149 mln in 1986 87 while total western europe production could be 169 mln tonnes against 181 mln
county increases tesco stake in hillards
he said he expected taiwans imports including grains machinery and power plant equipment from the us to rise sharply because of government efforts to balance trade with washington
the department said stocks of fresh apples in cold storage at the beginning of february were moderately larger than a year earlier but strong demand has kept apple prices firm
sales rose as well it said to 400 mln dlrs from 287 mln dlrs in the prior first quarter
the components were for the militarys high mobility multi purpose wheeled vehicle hmmwv american motors said
economists polled by said that m 1 would be anywhere from down two billion dlrs to up 18 billion
but he added as painful as the correction may be to our trading partners it is less painful than leaving the problem uncorrected because that would lead us into an inevitable lengthy and steep world recession roderick said between february 1985 and december 1986 the dollar fell by more than 40 pct in real terms against major industrial currencies and by 30 to 35 pct against a broader group of currencies of nearly all developing nations
union carbide corp is looking to acquisitions and joint ventures to aid its chemicals and plastics growth according the hw lichtenberger president of chemicals and plastics
one uncertain factor is the course of the iran iraq war
krupp added that some areas of the mechanical engineering business achieved notable growth rates and acquisitions had underpinned machinery and component activities
currently captive venture capital stock is traded over the counter and will soon trade under the scan graphics name
after restructuring under the holding company format the companys present truck and engine subsidiary will be known as navistar international transportation corp
linear films lner sees lower fourth qtr net
sutliff said improved results should come from four factors higher prices improved market share reduced costs and improved demand
these proposed transactions are yet another signal that american express intends to stay in the forefront of the financial services industry worldwide said american express chairman james d
sufficient funds should be available to pay full amount of the march 31 1987 dividend to exchangeable preferred shareholders with payment expected in early april to shareholders of record march 31 the company said
shares of crazy eddie which have jumped from the high 4 dlr range to above 7 dlrs since the antar belzberg bid was announced may 20 rose another 50 cents monday to 8375 a share in over the counter trading
he said he thought west germany would instead come under pressure at the summit to adopt similar stimulation measures to jack up faltering economic growth
ecuador estimates that it will cost between 145 to 150 mln dlrs to repair oil installations damaged by the earthquake energy ministry javier espinosa said
its first two quarterly payments in september and december were 425 cts each
the february surplus compared with a deficit of 1578 billion lire in the same month for 1986
but hofer said other important matters at the white house rather than an absence of political pressure might have restrained lyng
a mitsui and co mitst spokesman said its subsidiary mitsui and co usa inc bought two mln dlrs of newly issued shares in imatron inc an unlisted california based medical equipment manufacturer
crane co said it acquired certain assets of chicago heater co inc a wholly owned subsidiary of the marley co the terms of the transaction were not disclosed
american express cos stock fell sharply reflecting in part investors disappointment that the company did not make an announcement about its plans for brokerage unit shearson lehman brothers traders said
liro said the fed probably is shooting for a two week borrowings average of 300 325 mln dlrs
nigerian currency firms at latest auction
the sources said finance undersecretary ernest leung and deputy central bank governor edgardo zialcita left new york after ongpin and central bank governor jose fernandez started talks with the banks to put finishing touches to the accord
current consumption is some 125 mln tonnes
it forecast the ringgit will remain stable at between 260 and 270 malaysian dlrs to the us dollar for the rest of the year
caesars worlds boasrd has urged rejection of the offer on the grounds that it is inadequate and has said it would investigate alternative transactions
teva pharmaceutical industries ltd based in israel said it sold its wholly owned promedico subsidiary to foreign investors for four mln dlrs
standard bank investment corp ltd sprjj chairman henri de villiers said he could not predict profits for the bank this year because of south africas continuing political unrest
donaldson co inc said it reached an agreement to buy the assets of the filter products division of mine safety appliances co for undisclosed terms
the ugandan government depends on coffee export duties for about 60 pct of its sales tax revenue and the industry employs over half of salaried manpower
london freight market features ussr timecharters
several other banks queried by said much the same thing
in the corn belt states of illinois and indiana 217000 acres and 116000 acres respectively were enrolled
earlier the company reported third quarter pre tax profit for the period ended december 31 of 506 mln stg compared with 452 mln a year earlier
computer memories said the proposed transaction is subject to the results of certain corporate reviews and approval of its shareholders who will hold a special meeting as soon as practicable
lumonics inc year loss
he noted that even though opec production may be within quotas oil stocks are at tremendously high levels although the ecuador situation could cause a delay oil prices will eventually decline to the lows of late february he said and that will be a supportive influence for bond prices
pembroke capital co incs debt remains under review
eligible corn and sorghum producers will receive another 1986 crop deficiency payment in october if the national average market prices received by farmers during the entire marketing year for both commodities are below the basic loan rates the department said
societe generale is issuing a 15 billion yen bond due april 21 1992 carrying a coupon of 4 1 2 pct for the first four years and priced at 102 mitsui trust international ltd said as joint book runner
dealers say fed intervened buying dollars in us 
they sat down together to discuss the implications for latin america and feel each other out on the best way out a wright aide said of the meeting
it put out the statement by 5 0 vote for a 30 day comment period
the spokesman said it was not clear whether the domestic group would show a net profit in 1986 adding this would depend partly on the level of provisions
producers are taking measures for increasing their production when the prices are profitable he said
usair closed up 5 3 8 at 49 1 8 on volume of 19 mln shares
he remarks were made in an address to the national petroleum refiners association meeting
palm kernel stocks dropped to an estimated 45870 tonnes in february from a revised 55693 65100 in january and 85595 in february last year it said
this is when the european parliament is due to deliver its opinion on price proposals from the ec commission
coffee accounted with 320 mln dlrs of exports up from 222 mln dlrs in august and 212 mln in september 1986 salek said
marine corp mcrpo 3rd qtr net
if approved by shareholders the amalgamation will take effect april 30 husky said
their merger would not alter americans third place ranking according to data compiled by aviation daily a leading industry trade magazine
trade figures show that the new currency alignments are already changing the japan us trade axis into a japan european community ec axis to the discomfort of europe
the remaining one mln shares is being offered overseas through underwriters morgan stanley international and merrill lynch capital markets ual said
endotronics endo halted pending news release
analyst tim harris of phillips and drew said rising profits and a low tax charge would be offset by the fact that rolls operated in a sector which traditionally attracted low ratings
asked if the us had contacted japan after the stock market plunge in new york miyazawa said there was not any contact
the japanese electronics industry is too powerful to be stopped altogether but recovery for the industry will be delayed for another year he said
saur said klaus saur president and owner of the company will remain president of saur operations in munich london and new york
s p downgrades united technologies and units affects 17 billion dlrs of debt
mathematical applications said the tentative agreement calls for pagex to buy substantially all of the assets and liabilities related to the direct marketing business and continue to use the mathematical applications name
the company said the settlement relates to regulatory violations alleged by the us environmental protection agengy and the california health services department at the companys vine hill and panoche treatment facilities in northern california
novamin inc said it received a proposed takeover offer from breakwater resources ltd involving a swap of one breakwater share for two novamin common shares
firm agrees to merge with lotoquik intl
president aquino has shown her ability to pull the nation out of one crisis after another roeher said foreign investment would probably be held back until after the congressional polls in may and the local elections in august
it is expected to rise to 468 billion us dlrs from 379 billion a year earlier and 341 billion during the first quarter
the company said the proceeds will be used to create acquire develop produce and package entertainment properties primarily in film and television and secondarily in music
entertainment makes buyout offer to crazy eddie
pam transportation services inc ptsio net
two months ago the international coffee organization issued a forecast of kenyan exportable coffee production in the 1986 87 oct sept season at 182 mln bags
i suppose that under that condition there is a danger our exports will continue to drop and that the government will continue to accumulate large stocks of soybeans he said
oper shr loss three cts vs loss one ct oper net loss 1796000 vs loss 381000 revs 2501000 vs 2695000 six mths oper shr loss eight cts vs loss four cts oper net loss 3235000 vs loss 1123000 revs 4850000 vs 4551000 note 1987 net excludes 2nd qtr extraordinary gain of 87 mln dlrs or 154 dlrs shr from sale of 51 pct stake of mascot gold mines ltd msgto full name royex gold mining corp
the income payments would be based on the amount of commercially recoverable sugar produced by a farmer in the 1985 or 1986 crop years whichever is less usda said
citicorp denied financial market rumors that it has written off some of its loans to latin american debtors rumors that we have written off any of our latin american debt are unfounded a citicorp spokesman told in response to london based rumors in the money markets
france approves waterman acquisition by gillette
some shipping restrictions remain on rhine
santos yesterday announced a 400 dlr a share takeover bid for the 9693 pct it did not already hold in oil and gas company tmoc resources ltd valuing the target at 2485 mln dlrs
gatt success will take pressure nz minister
transworld corp liquidating trust said it expects to make an initial distribution to beneficiaries valued at 2010 dlrs per unit from the proceeds of the sale of hilton international co
note in july 1986 company set a dividend on series c preferred effecting a spin off of its chemical operations
it said major buyers last month were britain japan the netherlands west germany and the us
the department said the introduction of higher priced spring merchandise particularly mens clothing was responsible for the advance
the australian wheat boards awb 1986 87 export program is well advanced with over 10 mln tonnes already sold awb general manager ron paice said
australia is risking wheat export sales by not providing enough specific quality grades to meet buyer requirements the australian wheat board awb said
phillips petroleum said it raised the contract price it will for all grades of crude oil 50 cts a barrel effective today
mmtcs recent global tenders now include a clause that preference will be given to parties who accept payment in kind for goods and services sold to india a trade official said adding that the policy remains flexible
the companies have a varying degree of urgency the ultimate impact of all these efforts by miti on the troubled us industry remains in doubt analysts added
rodriguez said the latin and caribbean nations backed the reagan administrations opposition to many of the sections in the legislation including those to curb imports and to require retaliation for foreign unfair trade practices
tanzania will now have until april 1 1997 to pay back the credits some of which had originally fallen due in 1979 a ministry statement said
competition may also come from new gold coins including belgiums ecu which began sales today
knox said he had suggested to bolivian authorities that they invest as much of their disposable resources as possible in works of rapid reaction and which support the decision to make the bolivian economy grow knox is to hold talks with paz estenssoro as well as private businessmen and other government ministers during his visit
interest rates on conventional mortgages bottomed out at about 908 pct in march and rose to about 107 pct in april according to stephen roach economist at morgan stanley
other export dependent industries such as cars and textiles have laid off part time employees and ceased hiring economists said
onno ruding said
the search continued for a cargo of poisonous chemical substances loaded on the herald of free enterprise ferry which capsized in zeebrugge harbour friday
bank of spain suspends assistance drains funds
some 79 pct of respondents said they expect the number of agency brokers for which there was no estimate to fall over the next three years
peabody said the purchase includes seven underground mines and seven coal preparation plants currently operated by eastern as well as coal properties being mined by several contractors in west virginia
boone pickens may be targeting the company for an acquisition traders and analysts said
latest quarter net includes 24000 dlr tax credit
industry sources said this represented under one months consumption
the reserve bank said it would offer 400 mln dlrs of 13 week treasury notes and 100 mln of 26 week notes for tender next week the bank said it would not take up any stock at next weeks auction
it then sells shares in these to investors in the gulf region
royal bank of canada in reporting a 19 pct drop in first quarter earnings said it expects to report improved results in future earnings periods
business editor theodore cross offers 34 dlrs share for harper and row
per share amounts are calculated after preferred stock dividends
since the start of the coffee year last october private exporters were on average allowed 350000 bags of 60 kilos per month
the commission has proposed several cost and production cutting measures which include the introduction of a maximum guaranteed quantity system he added
the commodities will be supplied in the current fiscal year ending september 30 and sales will be by private us traders on a competitive bid basis
us sales now account for 65 pct of total turnover finance director john edwards said
terms were not disclosed
she said klm had started talks with vendex international nv vennas on their jointly owned courier service xp express parcel systems but declined to confirm an nrc handelsblad report saying it wanted to buy the vendex stake in xp
terms were not disclosed
pengo industries inc said it has agreed to sell its wireline products manufacturing division in fort worth texas wireline services division operations in several locations and pengo international inc subsidiary to john wood group plc for undisclosed terms
north side savings bank nsbko 4th sept 30
the state gold mining corp of ghana granted the venture an additional 145 square kilometers in teberebie ghana contiguous to 115 square kilometers granted earlier the company said
national amusements already owns 196 pct of viacoms stock
fees comprise 5 8 pct for management and underwriting including a 1 8 pct praecipuum and 1 1 4 pct for selling
the february monthly merchandise trade figures to be reported tuesday by the commerce department will be on a new basis reflecting more recent data so avoiding future revisions of the monthly figure commerce officials said
construction has also staqrted this week on a 43 mile 16 inch diameter gathering line to deliver 75000 to 100000 barrels a day of oil from the san joaquin valley in california
some arbitragers said they were concerned the ongoing issue might be a stumbling block or result in a long period of time for any transaction
firstly opec hardliners led by iran are bound to oppose such a move
lutterbach explained the company has taken steps to improve financial and accounting controls primarily at western which were not adequate at the time of acquisition
net yield on the preceding issue was 946 pct
they have to realise that the more our economies suffer the less capcity we have to buy their goods and repay the regions 360 billion dollar foreign debt geplaceas latorre said
ultramar sells uk marketing units for 50 mln stg
borealis in gold exploration pact with faraway
japan conducts currency survey of big investors
barclays is a co chairman of the commercial bank steering committee
carolin also said it expects to receive results of further tests and assays of the tailings within two to three weeks
the rating agency also upgraded long term debt supported by letters of credit of lead bank citizens fidelity bank to aa plus from a
santa fe southern sfx appeals merger ruling
prior year net includes gain 1549000 dlrs on sale of property
no single nation could substitute for saudi arabia as an lpg supply source to japan the sources said
avnet named dillon read and co inc as manager of the offering
but a lot depends on oil prices he added
the interest rate will always be 05 points above that charged to commercial banks by the national bank of hungary for loans exceeding one year
international trade and industry minister hajime tamura told a parliamentary session japans small and medium sized enterprises are seriously suffering from the yens rise and can only stand levels around 170 yen
bell petroleum services inc said regal international inc has doubled its offer for bell stock to one regal share for each bell share from half a share previously
they said chryslers cost of acquisition was valued at 782 mln dlrs paid in cash notes and chrysler shares
the requirement to deposit with the central bank has also meant brazilian banks have been able to negotiate lower interest rate spreads because foreign banks would rather accept a reduced margin than see their money deposited with the central bank
i would be the last to recommend that
national security nsico stake acquired
gasper said it became apparent congress was ready to pass legislation that would have rescinded the fee increase
weizsaecker in a speech on the first day of an official visit to argentina said debtor and creditor countries have created this situation jointly
anz bank says it will cut australian prime to 1825 pct from 185 on march 30
the bank of france said it will offer four billion francs worth of negotiable treasury bills at its next weekly tender on march 30
taiwan passed on its tender overnight for 25000 tonnes of us corn and 49000 tonnes us sorghum private export sources said
corn use in feed output in 1986 87 rose to 1171 mln tonnes from 1102 mln a year earlier due to low import prices
it said in a statement the stabilisation of crude oil prices and the organisation of petroleum exporting countries efforts to achieve further firming of the price has led to growing inflationary pressures in the us money supplies in the us japan and west germany exceed central bank limits and real growth of their gross national products it added
management science america inc clarifying statements made earlier today said its loss for the first quarter could exceed 20 cts a share because of non recurring expenses associated with the acquisition of several companies including comserv inc
conagra said the new company in which it holds a 45 pct stake will be called trident seafoods corp
it will be back on the table again and again the diplomat said
occidental petroleum corp said its common stock offering has been further increased to a total of 37950000 shares
dividend payable april 15 to holders or record march 13
payment and closing date is april 23 and redemption will be on the same date at the end of each of the periods
washington will review the ec proposal when it is formally submitted and respond to it officially then
in the past he has preferred to be less definite about the governments exchange rate policy lest it give foreign exchange markets set limits to test
united overseas bank ltd uobmsi year
preparation of the fields for the 1987 88 wheat crop which will be sown between may and august or september has so far not been as intense as in previous years
rand mines properties ltd one of south africas big six mining companies said in a statement that the accident occurred on saturday morning at the east rand proprietary mines ltd mine at boksburg 25 km east of johannesburg
uk money market receives 226 mln stg assistance
first of america has assets of more than 79 billion dlrs
a successful new gatt general agreement on tariffs and trade round is needed to halt growing bilateral trade problems between major trading partners us trade representative clayton yeutter said
lac minerals lac to close lake shore mine
for many farmers and government officials the fear is that while the present low rainfall does not yet pose a major threat the prospect of a dry autumn winter season when the wheat crop is in its early stages certainly does they added
canada agency sets first euro yen offering
the anhui provincial government has sent emergency relief to the 19 counties affected the news agency said
japan may increase its brazilian soybean purchases
a companion 225 mln dlr offering of 27 year bonds was given a 9 3 4 pct coupon and priced at 99625 to yield 979 pct or 180 basis points over treasuries
stanley said the companys stronger than optimal balance sheet will enable it to make further acquisitions but no negotiations are going on at the current time
we expected farmers to increase hog operations but we didnt expect this degree of expansion to show up in a 10 state spring report levitt added
he said there were already signs that a slow recovery from recession was under way in the oil and gas industries
hayes albion hay completes going private deal
the bond will be denominated in lots of 1000 ecus and will be listed in luxembourg
the pins proposal has now been left on the table as a separate option for those banks which might want to fund their own investments in the philippines or sell the notes in the secondary market ongpin said
compromise on issues blocking an agreement was reached at a united nations conference on an accord to replace the current pact which expires in october
the international coffee organization ico council talks on reintroducing export quotas continued with an extended session lasting late into sunday night but delegates said prospects for an accord between producers and consumers were diminishing by the minute
he said he had no comment on a proposal by house speaker jim wright d texas to tax securities transactions
some usda analysts said the payments reflected hesitation from the office of managament and budget to allow another huge release of certs onto the market
international coffee organization ico producers will meet at 1500 gmt 0900 est for a general discussion of the market situation producer spokesman lindenberg sette said
venezuelas state oil company petroleos de venezuela sa wants to raise its worldwide refining capacity by 150000 barrels of per day a company official attending the national petroleum refiners association meeting here said
the drought has not stopped the disease but probably helped in some way because trees have not been affected in areas that are dry he said
soil moisture supplies rated 41 pct adequate and 59 pct surplus
shultz ussr trip fuels talk of eep wheat offer
reynolds said work on the restart will begin in the near future and it is expected that actual metal production will begin september 1
kaczurba told the official pap news agency recently making up our lost position will take a long time and be uncommonly difficult and in certain cases impossible in a period of two to three years it will be possible to increase the level of exports by only about 100 mln dlrs while poland is unlikely to seek compensation it says it has a moral right to assistance from the us which it says imposed the sanctions illegally
he said commodity operations deputy administrator ralph klopfenstein is currently in the midwest on a speaking tour and will meet with ascs oficials in kansas city next week
moodys said marathon oil cos recent establishment of up to one billion dlrs in production payment facilities on its prolific yates field has significant negative implications for usxs unsecured creditors
current year net includes pretax charges of 466 mln dlrs for provision to reduce carrying value of excess capital assets and to writedown certain inventories and other assets
includes gains of 988000 dlrs vs one mln dlrs in qtr and 22 mln dlrs vs 11 mln dlrs in year from tax loss carryforwards
kuranari was widely expected to fly to washington tomorrow for talks focussing on trade
china should also earn more foreign exchange from tourists and contracted labour abroad he added
quest biotechnology qbio unit in merger pact
hughes tool co chairman wa kistler said its counter proposal to merge with baker international corp was still under consideration and that a merger was in the best interests of both companies
it has increased taxes reduced public expenditure and refinanced its internal debt
future quarterly sessions are scheduled for october 5 7 and december 14 16
banking sources say the high real interest rates on offer now around eight pct for overnight funds have attracted a large influx of speculative foreign capital which is threatening the governments monetary targets
total still expects 15 billion franc 1986 loss
shr 64 cts vs 51 cts net 4373000 vs 3346000 sales 598 mln vs 455 mln avg shrs 6808000 vs 6600000 nine mths shr 157 dlrs vs 118 dlrs net 107 mln vs 7745000 sales 1670 mln vs 1231 mln
pay date is april 24
it was concern about credit growth which prompted the bank of england to engineer a one point rise in uk bank base rates to 10 pct in early august caution endorsed subsequently by news of a massive 49 billion stg july rise in bank lending
oper shr one ct vs 13 cts oper net 17806 vs 312692 revs 1318165 vs 2239349 nine mths oper shr 27 cts cs 28 cts oper net 640156 vs 671291 revs 5612818 vs 5632044 note oper excludes gain from discontinued operations of 15598 for year ago qtr and loss from discontinued operations of 49040 for year ago nine mths
the roy disney family disclosed in a filing with the securities and exchange commission that it made a bid to acquire holly sugar corp for a package of cash and securities
usda today transmitted to congress a package of legislative proposals including bills that would cut target prices and speed up loan rate reductions
franklin puerto rico sets monthly payout
steven garmaise of wood gundy inc expects canadian airlines profit in 1988 will more than double last years 298 mln canadian dlrs by pacific western
the central bank is checking selling orders through banks and placing matching buy orders they said
earlier this month mannesmann disclosed that it might want a majority stake in sachs after previously saying it was seeking to buy only a minority holding in the company which has annual turnover of 22 billion marks and employs 17000
as a result efforts to reduce the value of the dollar over the past year and a half have done little to improve the trade deficits with those countries
robert m
bank of france sees continued industrial pickup
shr 12 cts vs 15 cts net 282000 vs 360000 revs 5261000 vs 5348000 avg shrs 2336000 vs 2335000 year shr 91 cts vs 104 dlrs net 2149000 vs 2075000 revs 282 mln vs 283 mln avg shrs 2356000 vs 2001000 note 1986 quarter net includes 72000 dlr charge from repal of investment tax credit
january september figures released at the weekend showed soviet oil output in the first nine months of this year at 467 mln tonnes
in return the company would have been eligible for 500 mln dlrs in loan gaurantees and price supports from the us treasury department which took over the contract from the synthetic fuels corp unocal said
between 1984 and 1986 on the recommendation of the council 13 oil companies were integrated into 11 companies within seven refining and marketing groups to improve the efficiency of the industry
morgan guaranty offers australian dollar issues
it said the sale is also subject to renegotiation of a real estate lease and approval of a definitive agreement by the companys board stock holders and debenture holders
bayer paid a 10 mark dividend on 1985 results up one mark from a year earlier
it widened to 361 billion in the first quarter of 1987 from 278 billion a year earlier taiwans official figures show
sumitomo bank has 500 mln stg cd program
malaysia is the worlds fourth largest cocoa producer
some of domes group of 56 major creditors might move to block such a sale arguing they have a claim on company assets
most economists said the fed will inject reserves indirectly via customer repurchases but they added that the fed might opt for a direct injection of reserves via overnight system repurchases
terms were not disclosed
us business loans fall 618 mln dlrs in feb 25 week fed says
the commission which slashed its growth forecast for west germany to two per cent from 32 per cent has made clear it feels bonn has room to introduce additional measures to stimulate its economy that would benefit the rest of europe
rainfall totalled from five to 50 mm in corrientes five to 31 mm in san luis five to 30 mm in entre rios three to 20 mm in misiones 11 to 17 mm in formosa and one to eight mm in chaco
the shearson official said that virtually all buyers of the first tranche received less than they wanted
in the mediterranean netback values were up 17 cts to 22 cts a barrel with arab light up 17 cts a barrel to 1862 dlrs a 09 pct increase from the previous friday and urals were up 22 cts a barrel to 1916 dlrs a 12 pct increase
i dont think the bundesbank would give that up one banking analyst said
the agent said delivery includes laydays of april 5 15
producers plan to hold consultations on quotas and then may set a date for a formal producer meeting but plans are not fixed he said
this compares with the banks present band one dealing rate of 10 3 8 pct
great western savings bank gwsb quarterly div
pennzoil shares were indicated at 85 to 87 dlrs compared with fridays new york finish of 92 1 4 dlrs
bank of japan intervenes shortly after tokyo opens
a subsidiary of the china commercial and industrial bank is arranger for the issue
shipowners have offered a 100 per cent raise which the seamen rejected
qtly div 25 cts vs 25 cts prior pay april one record march 15
but some of the latest economic data show signs of surprising strength in the us economy although some economists remain cautious about the outlook
simon and schuster said that woodhead faulkner will continue to publish under that name
the cash value of the offer was raised to 4200 dlrs from the 4050 dlrs a viacom share offered february 23 while the value of the fraction of a share of exchangeable preferred being offered was increased to 750 dlrs a share from six dlrs
the minimum reserve requirement for march before deduction of banks cash holdings was set at 61 billion marks
ongpin said the prepayments were part of seven different scenarios philippine negotiators prepared before the talks
bank of france return apr 9 week end apr 2 in mln francs gold reserves 218316 unch convertible currency reserves 119518 116728 ecus 62008 62020 special operations advances to exchanges stabilisation fund nil nil special drawing rights 6866 unch notes in circulation 209260 207517 foreign liabilities 3101 3082
british wheat area down ministry census shows
essex chemical corp said it filed with the securities and exchange commission a registration statement covering a 60 mln dlr issue of convertivble subordinated debentures due 2012
bank rate is set 1 4 percentage point above the average yield on the weekly issue of 91 day treasury bills
bow valley industries ltd said it agreed to sell its wholly owned norwegian subsidiary to elf aquitaine norge a s of stavanger norway for 13 mln canadian dlrs
metropolitan financial corp mfc votes payout
the report said us oil imports rapidly rising could hit 50 pct by the mid 1990s and have potentially damaging implications for national security
the pakistani government allowed the private sector to export cotton and rice in a new trade policy announced to cover the next three years
chairman gerald f cox said the improved performance was mainly due to product prices falling more slowly than crude prices during the year
parent company turnover 220 billion francs vs 229 billion
integrated resources inc said it filed with the securities and exchange commission a registration statement covering 150 mln dlrs of senior notes
these agencies included the office of management and budget and the departments of interior and commerce he said
the us treasury repeated a white house statement that only president reagan and treasury secretary james baker are authorized to speak on the dollar
asca administrator milton hertz said in a statement that the extension was necessary because of heavy workloads at county ascs offices
the companies said the resulting company wil retain the name computer associates international inc
kaneb energy partners ltd 82 pct owned by kaneb services inc kab said a juiry in circuit court of tuscaloosa county ala has ruled in its favor and that of jim walter corp jwc against sonat inc snt in a dispute over a natural gas sales contract
it said unadjusted m 3 increased to an estimated 3013 billion nz dlrs from 3008 revised from 3006 billion in december and 2518 billion in january 1986
the 1987 loan rate is too high relative to corn and is encouraging an expansion of soybean production in south america he said
reliance electric was a unit of exxon corp xon until december 30 1986 when a group of investors took the company private in a leveraged buyout a reliance spokesman said
february imports rose to 1394 billion from 1235 billion in january against 1567 billion in february 1986
the two parties have agreed to encourage direct japanese investment in canada bilateral trade and more joint ventures and licensing accords between canadian and japanese companies
the bank of england said it gave the money market late unspecified assistance of around 185 mln stg
harleysville plans to invest about four mln dlrs in the business if the deal is completed
watanabe said progress was being made towards a merger agreement and added that japanese industry agreed with the government on having only one private consortium as two companies might invest excessive amounts
consumers want price reviews at 12 month intervals instead of the 18 at present and the price revision mechanism to respond automatically to market trends
the company said 521508 shares may still be repurchased under the 1985 authorization
according to court documents payments on the loan were made until the mid 1930s when china was torn by civil war
the company said the remaining funds will be used to equip a prooduction facility in chino calif and provide working capital
south africa banks agree new debt repayment plan standstill extended to 1990 bankers
german net currency reserves rise 500 mln marks to 870 billion in week
neyra told that peru was current on interest payments on short term debt including the trade credit lines and on about 750 million dollars in so called working capital credits
economic spotlight japan buying overseas firms
the warrants are exerciseable at 950 dlrs a share he said
unemployment should continue to fall slowly as the service sector continues to create jobs
phelps dodge could spend between 250 mln and 500 mln dlrs to buy another non copper company durham said citing about 100 mln dlrs of cash and 580 mln dlrs of untapped bank credit
will it work he asked
bryan herrmann who will retain his title of president of the parent group and assume the title of vice chairman of the parent the company said
falling world oil prices last year helped cause a decline in soviet trade with the west to 130 billion roubles from 1416 billion in 1985
proceeds will be used to repay short term debt incurred primarily for working capital integrated resources said
domestic offerings of foreign currency denominated date first surfaced in fall 1985
baldrige concerned about korean taiwan deficits
he said an export credit of 250 mln dlrs had been provided for the export of engineering goods to selected third world countries on soft credit terms
the department said last summer for example certificates were exchanged for 215 mln bushels of corn
the officials told that if the sale went through it could leave the us military overly dependent on a foreign ompany for vital high technology equipment used in its advanced missiles aircraft electronics and intelligence gathering
ccc credits for mexico switched to wheat usda
were definately not out of it at this point the hutton spokesman said
chrysler credit canada issues 75 mln can dlr bond
us february trade to be reported on new basis
the statement said ministers were very disturbed by us moves towards protectionism
the fed seems to have been a bit slow in meeting the banking systems reserve needs this statement period but i wouldnt conclude anything until ive seen the fed data said jeffrey leeds of chemical bank
dow chemical cos thermoplastic resin department said it is amending a recent price increase for magnum abs a resins announced march 3 for an effective date of april 1
singapore welcomed the london metal exchanges lme decision to list singapore as a delivery point for the lmes new dollar denominated aluminium contract
this would limit the inflationary impact of intervention he said
he said he sees a decrease in the tax rate in 1988 of five or six percentage points
modern controls inc mocon 4th qtr net
centurion has assets of 105 mln dlrs atlantic said
uk money market given 550 mln stg late help
exporters expect foreign demand to remain weak while industry is less optimistic than it was the association said in a report
morgan guaranty ltd through a special financing subsidiary said it is issuing the first repackaging of perpetual floating rate notes consisting of a repackaging of an outstanding westpac banking corp security
the offer will expire 1700 new york time april 1 1987 unless extended
the philippine proposal is very interesting its quite unique and i dont think its something that should be categorically rejected out of hand the official said
south korean demand for imported ethylene this month has risen to 17000 tonnes from 10000 last month and the country may face difficulties covering the extra volume they said
perus catches differ regionally and stocks are low
data access systems inc said chairman david cohen has sold 1800000 common shares to phoenix financial corp for undisclosed terms and resigned as chairman and chief executive officer
tanjug said the programme would create conditions for raising exports of finished steel products
a union spokesman in rio de janeiro said the seamen had accepted a 120 pct pay raise offer from the companies globo and flumar which have less than 200 employees each
japanese agriculture ministry officials told sales were limited to farmers to keep land in agricultural use
dealers noted mild short covering in the metal after some initial selling by local investors
finland orders mcdonnell douglas md 11s
gtc transcontinental group ltd 1st qtr net
asked what he thought etls bid sought to achieve herbert said im puzzled as to what hawkins strategy is
the directors of the american farm bureau the nations largest farm organization voted tuesday to urge congress to leave the 1985 farm bill in place without alterations
analysts speculated there will be more such matches
general mills said at the end of the third quarter its return on average equity was 316 pct
august dubai was discussed in cautious early activity at around 1735 dlrs above fridays 1715 20 range but still below the government selling price gsp of 1742
the alternative was that if he did not congress would
saunders resigned from his executive positions at guinness in january in the aftermath of a government enquiry into share dealings during the battle for distillers but retained his position on the board
sumita has said in the past that he expects the economy to show a gradual upturn in the second half of the year
current prices are not enough to justify increased drilling said ed malmgreen of the california independent producers association
pacific gas said the accounting change was prompted by delays in the receipt of a california public utilities commission decision on the companys 1984 application for rate relief to recover the 58 billion dlr cost of constructing units one and two of the diablo canyon nuclear power project
furthermore usda said the current sugar program gives overseas manufacturers of sugar containing products a competitive advantage
shr 2789p vs 2424p div 90p vs 775p making 1375p vs 120p turnover 126 billion stg vs 119 billion pretax profit 546 mln vs 465 mln tax 165 mln vs 135 mln interest paid 22 mln vs 24 mln minority interests 23 mln debit vs same extraordinary items 423 mln profit vs 54 mln loss pretax profit includes agribusiness 283 mln vs 225 mln health products 65 mln vs 54 mln wholesale food distribution 83 mln vs 73 mln retail food distribution 42 mln vs 59 mln uk 287 mln vs 272 mln us 211 mln vs 161 mln
hutton values the warrants at two to three dlrs per share
debt solution requires open markets german banker
the federal reserve entered the us government securities market to arrange 25 billion dlrs of customer repurchase agreements a fed spokesman said
asked whether he wanted to see uk interest rates lower he said the two half point cuts this month in banks base lending rates have been appropriate up until now leigh pemberton said he preferred a cautious step by step approach to reducing short term interest rates not least because we have a potential problem with inflation underlying uk inflation was currently around 40 pct one of the highest among industrialised nations he added
us bank reserve monetary and discount window borrowings data released by the federal reserve today clearly indicate that policy is on hold and may not be changed for weeks or even months economists said
cannon intl can sets philippines film pact
but a senior central bank official told that as far as he knew the idea was not being seriously considered now either in the us or in japan
telecom plus international inc said it completed the sale of its 65 pct interest in tel plus communications inc to siemens information systems inc for about 173 mln dlrs
the certificates and 2259 mln dlrs of cc subordinated debt remain on s p creditwatch with positive implications
it said the transaction is subject to a definitive agreement shareholder and regulatory approval
1986 operating net excludes discontinued operations of 84000 dlrs or two cts and extraordinary charges of 1119000 dlrs or a loss of 27 cts
shr 27 cts vs 10 cts net 7684000 vs 2587000 revs 2739 mln vs 2037 mln year shr 90 cts vs 33 cts net 239 mln vs 8219000 revs 101 billion vs 7007 mln
antwerp libya 5500 mt bagged flour 14 daps 24 27 4
moodys investors service inc said it is reviewing the long term debt ratings of ford motor co and ford motor credit co for possible upgrade
kirschner kmdc completes purchase
the ministry has favoured the merger of the two rival groups arguing the market cannot support more than one competitor to kokusai denshin denwa co ltd which now monopolizes the business
tender loving care said its payment to norrell will include 1950000 dlrs in cash and five mln dlrs of a new series of eight pct tender loving care convertible preferred
aflatoxin comes from moulds which develop in copra when it is not properly dried or ground
proposed dividend 080 crowns vs 040 crowns
shr 37 cts vs 41 cts net 1214000 vs 1316000 nine mths shr 106 dlrs net 3408000 vs 2809000 assets 2048 mln vs 1766 mln deposit 1540 mln vs 1312 mln loans 1253 mln vs 1007 mln note 1986 nine mths per share figures not available because bank converted to stock form in june of 1986
stoltenberg declines comment on currency zones
in fact he said theres a chance those banks could get more involved in the future
end feb stocks of edible tallow amounted to 419 mln lbs vs a revised 401 mln lbs and 486 mln lbs in their respective periods
virtually all latin american leaders backed brazils suspension of interest payments on 68 billion dlrs of private bank debt last month though prospects of a chain default are still remote
one lock system in the four lock soo canal joining lake superior with huron was opened on the morning of march 22 but only three commercial vessels have been locked through so far according to an us army corps of engineers official
the boards review is continuing with the companys independent legal and financial advisers american motors said in a statement issued from new york
amstutz suggestion would be for congress to change the farm bill to allow usda to leave the soybean loan rate at 456 dlrs in crop year 1987 rather than increase it to 477 dlrs
he said current third quarter results would be similar to 1987s second quarters loss of 12 cts per share
teleglobe president and chief executive jean claude delorme will continue in the same post the company said
personnel expenditure was up 119 pct last year at more than 15 billion marks
alfin inc afn 2nd qtr jan 31 loss
there is always an excuse for government not to sell she said but she added i want government to get out of business she said non performing assets would be sold in open bidding and filipinos and foreigners would compete on equal terms
the company said a preliminary estimate of the geological resources of one of the properties to a depth of 200 meters indicates a potential of 12 mln ounces of gold and by the middle of 1987 it expects to establish proven ore reserves containing at least 500000 ounces of gold
cabot corp said it called for redemption its outstanding 12 1 4 pct notes due november 1 1994 and 10 3 4 pct notes due september 1 1995 aggregating 89 mln dlrs at face amount
el paso electric said it does not expect to have excess generating capacity
the 50 day provisional 1987 88 budget adopted today by the government allows the finance ministry to issue up to 14600 billion yen worth of foreign exchange fund financing bills government sources said
us takes tough stand on gatt farm issues
it expects its revenue to approximately double in 1987
bennett who is leading one of three soybean delegations on a lobbying tour of ec capitals will also visit bonn on thursday and friday
united grain corp of oregon won three contracts to supply 93000 tonnes priced from 9232 to 9319 us dlrs per tonne c and f taiwan for delivery between may 10 and july 30
stoltenberg said the wide range of predictions showed how many imponderables had to be taken into account and said no drastic changes in official forecasts were needed
latest consumer price data indicate us inflation will be moderate in 1987 even though it will be above last years pace economists said
it will turn out 4000 tonnes in 1987 the paper said but gave no more details
the european investment bank said it was advancing loans to italy worth a total of 3185 billion european currency units equivalent to 4606 billion lire to finance transport industry and infrastructure projects
the company currently operates 95 restaurants in 16 different states
everything else is nothing but speculation he said
the agreement simply helped it on its way
avana group plc defending itself against a bid from ranks hovis mcdougall plc rhmll rhm forecast a 34 mln stg rise in profits in the 1986 87 year
its survey covered 13 oils soy cotton groundnut sun rape sesame corn olive coconut palmkernel palm lin and castor and four animal oils and fats butter fish oil lard and tallow greases
while not committing himself for or against such action he said lawmakers have to examine recent government findings which indicate certificates cost more than cash payments
piedmont which slipped 1 2 to close at 69 5 8 also remained silent on the twa action
borg warner industrial products has sales of about 300 mln dlrs from three divisions which provide advanced technology fluid transfer and control equipment systems and services worldwide clayton said
torrential rains throughout argentinas grain producing areas virtually paralysed coarse grain harvesting in the week to yesterday trade sources said
this was gradually cut to 285 pct because of intense demand saving the issuer money in financing costs
1987 year also includes charge 128 mln dlrs from discontinued operations
now this sounds like theyre going to join the group and buy themselves out said edward atorino media analyst with smith barney harris upham and co
qtly div 14 cts vs 19 cts prior pay march 31 record march 16 note quarterly dividend for prior quarter included special payout of five cts a share
but koizumi said the ldp does not rule out a rate cut if necessary in the future
mario branco peres president of the brazilian association of citrus juice industries abrassuco welcomed a decision by the us commerce department sharply cutting its duties on imported frozen concentrated orange juice fcoj from brazil
california and louisiana were each up by three and wyoming gained two additional working rigs
woolworth z completing tender offer
the bill extends reagans authority to negotiate an international coffee agreement through october 31 1989
others have effectively been liquidated
our equity managers have taken a slightly heavier cash position in equity portfolios lately collins said
the government should act without further delay to absorb the 17 billion dlrs of development aid it will receive in 1987 he said
there would be little to gain and in fact it would probably be detrimental venezuela agreed with its bank advisory committee on a 145 year rescheduling of 203 billion dlrs in public sector foreign debt with an interest rate 7 8 pct over libor
the february total included 19102 tonnes from the us against 16577 in january and 9933 a year ago 24391 from australia against 19585 and 21208 and 12611 from indonesia against 5891 and 16601
us agriculture secretary richard lyng said he is pleased the european community plans to offer a global farm reform plan at gatt later this month although the united states opposes key parts of the proposal
the united states and major latin american nations agreed to set aside sharp differences over control of the inter american development bank iadb and reconsider the issue this summer
it said the action reflected the preferreds diminished importance in the capital structure following the recent conversion of 280 dlr convertible cumulative preferred shares which had a 200 mln dlr liquidiating value
security pacific will provide expertise in consumer and commercial lending as well as data processing support
the conversion price on the 175 mln australian dlr convertible eurobond for bell group nv has been set at 1337 australian dlrs per share lead manager banque paribas capital markets said
the company said the start up was necessitated by continuing strong demand for aluminum and dwindling worldwide inventories and that the metal is needed to supply reynolds various fabricating businesses
tug crews are preventing the movement of foreign flag container vessels in and out of the ports of sydney melbourne and fremantle shipping sources said
an analyst familiar with the two mines said the properties together have a potential value of 20 dlrs to 40 dlrs a share for reynolds the analyst who asked not to be identified said the rise in the stock today was likely the result of us investors that were not completely cognizant of the size or the importance of the reynolds holdings in australia traders said the furman selz report indicates that gold was discovered mixed with bauxite in the boddington mine
exports of fat and oil bearing raw materials rose to 28700 tonnes from 19800 on a fat oil basis and to 137200 from 89900 tonnes actual weight
the bank would then be free to sell the stock during the fallow period but not at a price below the minimum tender price
at some point they will be more inclined to ease he said
an agreement in the debt rescheduling talks between the philippines and its commercial bank advisory committee seems to be close at hand said david mulford assistant secretary of the us treasury
the eiu said in its world trade forecast it revised oecd economic growth downwards to 25 pct this year compared with a 28 pct growth forecast in december
soviet 1986 87 coarse grain production is estimated at 10330 mln tonnes vs 10330 mln tonnes last month
for 1986 as a whole visible trade was in deficit by 83 billion stg sharply up from 1985s 22 billion shortfall and a 44 billion deficit in 1984
omnicom group inc omcm 4th qtr net
revlon group inc said it bought germaine monteils cosmetics business in the us from the beecham group plc
we simply arent prepared to continue to accept the imbalance which has been the position for such a long time post and telecommunications ministry officials were unable to comment on howards meeting with their minister
changes in loan rates will definitely be looked at for next years crop he said with the option of making soybean loans partially in cash and in certificates under consideration
saleh was replying to a question from after traders in london said indonesia had issued licences to import around 135000 tonnes of palm oil for delivery in april
ecuador seeks 450 mln dlrs in emergency credit
bdm international bdm increases qtrly divs
argosystems has granted boeing an option to buy 1238311 shares or 185 pct of the outstanding stock for 37 dlrs a share they said
they have to buy the securities in the secondary market bond traders said many corporates rose well above par in the secondary market this year
the agency noted that texas air has adequate liquidity to service its obligations but cautioned there is no guarantee that its liquidity will remain stable
the transportation departments antitrust enforcement has been disastrous permitting rampant merger mania ohio democrat howard metzenbaum said in a statement
exports in february also in value terms totalled 4256 billion marks 05 pct less than in february 1986 but up 13 pct compared with january
the company was appealing against a decision of the tax commissioners that any such provision was a capital expenditure not a revenue expenditure and was not deductible
government officials said japan would make a formal request next week for emergency talks and that the two sides would probably meet the week after just days before the april 17 deadline set by washington for the tariffs to take effect
earlier this week some 65000 dockworkers cancelled a scheduled national strike to pressure port officials to give them a wage increase and other benefits
oper shr profit eight cts vs loss 20 cts oper net profit 1115000 vs loss 2729000 revs 830 mln vs 379 mln note current year figures exclude operating loss carryforward gain of 888000 dlrs and loss from discontinued operations of 73000 dlrs
it wil be back on the table again and again the diplomat said
with other costs this means a price in pakistani markets of between 230 and 250 rupees per kilo
the usda started the pik certificate program in an effort to free up surplus grain that otherwise would be forfeited to the government and remain off the market and in storage
last week tvx said the sale which was scheduled to close then had been delayed
in february the cost of living rose 01 pct from january but fell 05 pct compared with february 1986
oper shr loss 30 cts vs profit eight cts oper net loss 5887996 vs profit 1620312 revs 324 mln vs 485 mln note 1987 net excludes extraordinary gain of 27 mln dlrs or 14 cts shr from settlement of provision for discontinued operations vs yr ago tax gain of 562248 dlrs or three cts shr
in the parent company the positive earnings development continued it said where pre tax profit rose by 32 pct to 197 billion marks
us television networks said on monday that us forces launched a retaliatory strike against iran late sunday apparently attacking two iranian offshore oil drilling platforms
but countertrade deals still make up only a small part of indias total trading and are likely to account for less than eight pct of the estimated 1853 billion dlrs in trade during the nine months ended december the sources said
paralax vido agrees to acquire american video
stage ii apparel corp initial public offering of one mln shares of common stock at an estimated 10 to 12 dlrs a share
but us officials and businessmen are convinced low us exports to japan are japans fault
charter crellin inc said it signed a letter of intent to acquire all outstanding shares of sebro plastics incs capital stock
the main reason for the expected increase in beet sowings is that returns from competing crops such as soybeans and grains are just awful said carter
the fourth quarter figure was in line with cso projections released on friday
beazer will grant underwriters an option to purchase another 937500 adss to cover overallotments
silicon graphics sgic sells convertible debt
cash in hand was now about 50 pct of the next three years anticipated net requirement and comprised 25 pct of outstanding debt and 66 pct of its debt maturing within five years
we will be giving close attention to the processes in the oecd organisation of economic cooperation and development and elsewhere leading to the venice economic summit where we will be looking to the participants to adopt a strong commitment to agricultural trade reform dawkins said
yellow freight system yello 3rd qtr net
sales last year stood at 53254 schutz said
bundesbank retains money supply policy
the program was announced in late january and dealers expect the company will be pushing to maintain its ability to obtain some of the finest terms available in the international markets
occidental oxy unit to redeem debentures
i told him we are not a colony or something said watanabe
conrac cax rejects mark iv iv offer
pbs building systems of america inc an anaheim calif company told the securities and exchange commission it has acquired 150000 shares of modulaire industries or 50 pct of the total outstanding common stock
qtly div 10 cts vs eight cts prior pay april 16 record march 31
year to date truck production was 395967 down from 410821
northview novco plans to sell company
spain extends reserve requirement
gulf states utilities co said auditor coopers and lybrand has issued a qualified opinion on 1986 financial statements
last month president reagan announced the sanctions in retaliation for what he called japans failure to honour a july 1986 agreement to stop dumping computer microchips in markets outside the united states and to open its home market to american goods
no securities repurchase agreement is expiring next week but dealers said the bundesbank could offer fresh liquidity if conditions significantly tighten
work on the project could begin as early as january 1988 a shell spokesman said
shr 108 dlrs vs 100 dlr net 6215538 vs 5757013
shr 12 cts vs 19 cts net 369000 vs 358000 revs 7076000 vs 6712000 avg shrs 3050000 vs 1850000 nine mths shr 53 cts vs 63 cts net 1523000 vs 1158000 revs 226 mln vs 207 mln avg shrs 2852198 vs 1850000
oracle systems orcl files for offering
payment of 310 dlrs and delivery of two warrants will entitle the shareholder to one additional share of the merged company
it had not taken this view after earlier clashes
the international share in turnover was 50 pct in 1986 compared with 52 pct in 1985
the stock exchange of singapore has decided to discontinue a 150 mln dlr standby credit facility for broking firms facing financial problems because of the failure of pan electric industries ltd an exchange statement said
washington has pushed for veto power to be lowered to 35 pct from a simple majority as at present
new harding earlier reported profit of 653000 dlrs or 19 cts a share for first quarter ended january 31
proceeds from the financing will be used for equipment procurement and construction of an 80 megawatt power plant by its china lake joint venture the company said
best products co inc 4th qtr shr 144 dlrs vs 83 cts
the 1986 icca has been in effect since january 1987
the kenyan economy is heading for difficult times after a boom last year and the country must tighten its belt to prevent the balance of payments swinging too far into deficit president daniel arap moi said
record male unemployement of 31 pct was set in july 1986
if that is the case gnp in the second quarter could ease back to a one to two pct growth rate kahan said
debtors have already shown considerable willingness to sacrifice over the last five years so economic adjustment is not at issue one latin american official said
fed allows citicorp cci sears s thrift deal
he told brazil was not planning to modify the position it held before the recent international coffee organisation meeting
remaining interest will be deferred until jan 1 1991
recent slackness on dutch capital markets has led some bankers to question the central banks policy of pegging the guilder firmly to the west german mark and to ask for more flexiblility in exchange rate policy
crs sirrine inc said it plans a major restructuring of its balance sheet that will include a write off of between 39 mln and 43 mln dlrs most of which would be intangible goodwill from the companys past acquisitions
everything else is nothing but speculation he said
we should make this classification obligatory and publish it in places that are easily accessible to lay people he said
he said the criticisms were in a report by an imf commission which visited yugoslavia last december and january
interest rate will be five pct subject to upward adjustment based on dividends paid on common shares noranda said
emery said if it were to acquire 51 pct of purolator shares or control of the purolator board it has agreed not to dispute pc acquisitions right to receive fees that purolator agreed to pay if pc were unsuccessful in acquiring control of purolator due to the acquisition of control by another party
the repurchase agreement yields compare with the 35625 pct one month commercial bill discount rate today and 36250 pct on two month bills
the spokesman said the firm had asked the transporation agency permission to buy all of piedmonts voting stock the but agency decided to give approval for 51 pct of shares
in the previous 10 years vw had received 80 pct of audis earnings as a dividend
kramer also said the meeting had heard that unemployment for the year would be above the 55 pct forecast but was unlikely to be more than six pct
for example between 1985 86 and 1986 87 the ec intervention price for bread wheat fell from 20930 to 17944 european currency units ecus it dollar terms the currency in which most export transactions are denominated the intervention price however rose to 193 dlrs from 168
british petroleum co plc does not intend to raise the price of its planned 70 dlr per share offer for the publicly held 45 pct of standard oil co bp managing director david simon said
ongpin said manila is sticking to its demand of a spread of 5 8 percentage points over london interbank offered rates libor for restructuring 36 billion dlrs of debt repayments
qtly div 25 cts vs 25 cts pay april 20 record march 31
robert halmi inc said it has received a commitment for a five mln dlr revolving credit line from wells fargo and co wfc it said it will use funds for the development and production of television programming
it certainly contributed to the general feeling of malaise one citicorp banker said in describing the impact of the mexican package on the banks decision to add three billion dlrs to its reserve for possible loan losses
its getting a little confusing said james carroll analyst at painewebber group inc
the bill which now goes to the full banking committee includes an amendment opposing us approval of development bank loans for commodities in surplus in the world and which are intended for export
but operators find it hard to push the dollar either way for fear of possible concerted central bank intervention
people however cannot afford to wait for drilling to go up to start buying said sandi haber sweeney senior research analyst at sanford c
national average prices for farmer owned reserve
the new investment coin to be sold worldwide will fluctuate in price according to the international price of gold
it gave no 1986 figures for comparison
weizsaecker speaking at a reception held for him by president raul alfonsin at buenos aires city council hall also said no one could overlook the enormity of the obstacle posed by the foreign debt to countries like argentina
at the end of 1986 he said the value of foreign assets in the us exceeded the value of us assets abroad by 240 billion dlrs compared to five years ago when the us had a surplus in assets of 141 billion
asked to comment on remarks by some us officials calling for a further decline of the dollar miyazawa said only the us president and the us treasury secretary can make official statements about exchange rates
last years temporao also hit by a dry spell was 277 mln bags
the total of all crude refined product and spr stocks fell 103 mln barrels to 15648 it said
shr 40 cts vs 23 cts net 1173859 vs 672824 revs 110 mln vs 9857707 nine mths shr 103 dlrs vs 56 cts net 2986823 vs 1637559 revs 315 mln vs 272 mln
we have made the utmost efforts among the worlds manufacturers to improve productivity he said
standard and poors corp said it may downgrade ecolab incs 10 mln dlrs of bbb plus subordinated debt
freddie mac said buy selling 400 mln dlrs worth of mortages it makes more mortgage money available
in the 1986 1st qtr pan am reported a net loss of 1184 mln dlrs which included foreign exchange losses of 193 mln
cri insured mortgage investments inc said its advisor will recommend a special distribution of 50 cts per share due to the sale of a federally insured first mortgage on park meadows i in madison wis for 4267871 dlrs
invacare corp chairman president and chief executive officer a
it the mtn market will even surpass the bond market he said
some 350000 dlrs is payable immediately 12 mln dlrs payable on completion with the balance due by june 30 1987
norways 84 pct share of statfjord which extends into the british north sea sector was 611138 bpd against 552646 bpd in august operator den norske stats oljeselskap a s statoil said
ambassador nobuo matsunaga made the recommendation at a meeting with nakasone kyodo news service said
gatt council defers decision on semiconductors
mts said it does not expect problems in obtaining new jersey and nevada regulatory approval for the acquisition since ownership in a caesars stake has already been cleared
gillette canada issues 500 mln french franc bond
period ended february 28 shr 40 cts vs 15 cts net 1747000 vs 775000 revs 132 mln vs 133 mln avg shrs 4321376 vs 5148318 year shr 67 cts vs 67 cts net 3300000 vs 3299000 revs 495 mln vs 502 mln avg shrs 4895788 vs 4951177 note 1986 year after 819000 dlr tax provision and 660000 dlr tax credit 1985 year after 559000 dlr credit for anticipated income tax settlement for 1970 and 331000 dlr tax provision
but it said this differential between the growth of domestic and foreign demand would reverse in 1987 and 1988 thus weakening the international adjustment process it forecast a slowing in domestic growth to little over two pct but with a rise in exports of 33 pct in 1987 and 36 pct in 1988
decreased supplies will firm prices for crude oil but are not likely to change a growing dependence mcivor said
uk banks should follow bank of england recommendations strengthening their balance sheets and making more provisions
under the accord taiwans textile export growth was limited to 05 pct each year until 1988
drawings under both tranches will be at 175 basis points over the london interbank offered rate
brazils gross domestic product gdp rose by 82 pct in real terms last year following an 83 pct increase in 1985 the geography and statistics institute said
time said it expects to fund the tender offer and redemption through one or more public issues of intermediate or long term debt
rosenbaum said the administration would continue to support legislation now before congress which would allow the us customs service to monitor coffee imports as a way to comply with any future coffee quotas
one senior floor trader said the financial futures room badly needs renovating
raytech corp ray 4th qtr dec 28 net
we want an end to the war with no winners and no losers and any activities or statements that tend to prolong the war or increase hostilities are not helpful or welcome redman said he could not independently confirm reports that iran has offered to halt attacks on gulf shipping
royal dutch shell eventually raised its initial 55 dlrs a share offer to 60 dlrs a share after lawsuits by minority shareholders
ec representatives met in closed session in brussels on friday in an attempt to reach a common ground and a diplomatic source said narrowed the range of positions among the 12 nations
mthly div 14248 cts vs 4912 cts prior pay april 10 record march 31
shr loss seven cts vs loss 19 cts net loss 497452 vs loss 1306875 revs 106 mln vs 96 mln
several had good brand development potential including gleneagles champneys cranks hediard and and guinness publications
the initial offering price is expected to be 15 to 18 dlrs a share and proceeds will be used for debt reduction it said
kuwait may re register gulf tankers newspaper
iraq said it had foiled a three pronged thrust some 10 km six miles from basra but admitted the iranians had occupied ground held by the mohammed al qassem unit one of three divisions attacked
transcanada said the offer is to dome management not to shareholders
the offer would occur within about 90 days after the closing of the sale of the initial 50 pct stake the company said
oper shr 16 cts vs two cts oper net 467000 vs 52000 sales 8954000 vs 6338000 avg shrs 2939459 vs 1979916 nine mths oper shr 45 cts vs 18 cts oper net 1068000 vs 387000 sales 245 mln vs 196 mln avg shrs 2299764 vs 1979916 note current year net both periods excludes 176000 dlr gain from retirement of notes
indonesia sees limited choices on economy
api says distillate gas stocks off in week
ningbo handles crude oil exports and transhipments of coal from north to south china and imports include fertiliser and soda ash and iron ore from brazil and australia
cyclops cyl merger approved
world bank president barber conable said he was concerned about the state of brazils economy and urged the country to come up with a plan soon to put its economic house in order
bond corp international ltd a subsidiary of the australian based bond corp holdings ltd bonas said it would defer its planned rights issue but still wants the issue to be made before july 31
but some other analysts were uncertain that even an emergency meeting would address the problem of opec production above the 158 mln bpd quota set last december
to salvage the pact tokyo has instructed its chip makers to slash production and has helped establish a multi lateral organisation designed to promote chip imports
kpmg was created as part of the merger announced last september of peat marwick international klynveld main goerdeler to form klynveld peat marwick goerdeler
asked if he thought allied lyons is vulnerable to other take over attempts holden brown replied no i dont we must never be complacent and we must always be very watchful but i think we would be very expensive he said
hodel said the loss of some domestic oil production through the shutdown of stripper 10 barrels a day or less wells because of low prices was probably permanent
the response of argentinas 350 foreign bank creditors had been eagerly awaited because the package is the first to be marketed since us banks led by citibank decided to take large second quarter losses in order to boost their reserves against existing loans to developing countries
the official said the increase reflected improved market conditions although he noted the new prices would still be lower than those of three years ago
baker international corp treasurer eric mattson said the company hoped to iron out snags in a proposed merger with hughes tool co ht but declined to say if or what compromises might be acceptable to it
its 1986 pretax profits excluding extraordinary items totalled 114 mln canadian dlrs
it was the second half of a two week bank statement period that ended on wednesday
enterra en credit line cut
faygo has revenues in excess of of 100 mln dlrs national beverage said
shanghai tyreb factory to raise 30 mln us dlrs
the eight major new york city banks did not borrow from the federal reserve in the week ended wednesday march 25 a fed spokesman said
currency futures to key off g 5 g 7 meetings
thailand exported 18367 tonnes in 1986 up from 17359 in 1985 pramual said
she said the surplus of 597 mln pesos compared with a deficit of 390 mln pesos a month earlier and a deficit of 164 billion at the end of 1985 reflected political uncertainty in the last quarter of 1986
uk visible trade deficit narrows in february
kapok corp kpk in technical default
no quake damage at chuquicamata mine spokesman
aqazadeh who will be accompanied by a large delegation will have talks on bilateral relations in the field of energy and exchange views with algerian officials on the current world energy situation it said
the contract to be signed by pdvsa and champlin petroleums parent company the union pacific corp will create a new joint venture called champlin refining
foster a diversified international concern with 27 subsidiaries operating worldwide is based in livingston new jersey
nine months net is after tax 4991 mln dlrs vs 7226 mln depreciation 5095 mln vs 4273 mln interest 3668 mln vs 2158 mln and minorities 153 mln vs 157 mln but before net extraordinary profit 607 mln vs profit 432 mln
xebec said ibm has historically accounted for about 50 pct of the companys revenues but that total fell to 20 pct during the quarter just ended
12 mths 1986 excludes discontinued operations loss 129000 dlrs or three cts per share
were just waiting a while for prices to improve an unidentified mexican trader told the agency
the ministry said construction output fell 13 1 2 pct in january february against november december due to the cold january weather
he had said the rise was not in line with the spirit of the louvre accord aimed at stabilizing the us dollar last february
nestles nominal capital amounts to 330 mln swiss francs
after the acquisition which is subject to egyptian government approval working interests in the hurghada block will be conoco hurghada at 45 pct hispanoil 30 pct and gulf canada the balance
oils fats stocks seen falling sharply in 1986 87
the ban imposed a week ago over a pay claim had prevented the movement in or out of port of nearly 20 vessels they said
the national bank of new zealand ltd 
the debentures will be convertible into common shares at any time up to april 30 1992 at a price of 1750 dlrs a share and then up to april 30 1997 at 1850 dlrs a share
first financial which provides data processing services to community banks and other financial institutions said the acquisition will expand its customer base
in western europe the approach to trade disputes tends to be to try to reach a settlement through negotiation wolf said
monsanto mtc to acquire rhone poulenc assets
in effect international firms would be paying part of manilas interest bill allowing the government to conserve much needed hard currency
the periodic reviews are to continue and the remaining sanctions to stay in force the officials said until japan is in full compliance with the semiconductor agreement
but a report that the soviet union planned to reduce the price of its crude oil exports may pressure the market friday said nauman barakat petroleum analyst in new york with smith barney harris upham and co
custom manages some 215 food contract management operations and about 65 environmental service accounts producing about 100 mln dlrs in annual revenues
dixons gets only 20 pct of cyclops cyl in bid
it said sales fell about 10 pct from the year earlier 1049 mln dlrs
many economists now believe that the dollar has fallen far enough to ease the trade deficits drag on the us economy
uk says has no role in brazil moratorium talks
the soviets also secured a 34000 tonner from gibraltar for a trans atlantic round trip at 4500 dlrs daily and a 61000 tonner for similar business at 6750 dlrs daily
it said that because of the ltv and am general reorganizations the final amount of a confirmed award and the amount of any loss to ltv is uncertain
oper shr 33 cts vs 33 cts oper net 3330000 vs 2969000 revs 959 mln vs 920 mln avg shrs 8610068 vs 7603219 note 1986 net excludes extraordinary gain of 577000 dlrs or seven cts shr vs yr ago gain of 71000 dlrs or one ct shr
the agreement with troon requires troon to advance 65 mln dlrs partially secured by a first mortgage lien on the companys interest in its natural gas pipeline partnership and troon to tender 100000 principal amount of debentures to chapman
yesterday the government sent thousands of troops supported in some instances by tanks to occupy nine oil refineries and six areas of oil production
pesch is the principal stockholder of pesch
a notice of redemption will be mailed to noteholders march 27 it said
a bank spokesman said the previously reported call by the canadian parliaments finance committee on march 20 for a substantial cut in credit card rates was a factor in the move but he would not elaborate
german retailers expect good 1987
and an accompanying press release referred only obliquely to the fact that the 7 8 pct margin will increase to one pct as long as the philippines pays amortizations as agreed with the banks the threat of a higher margin gives the philippines every incentive to make the extra payments and the government has indicated that it will in fact do so bankers said
miyazawa said the paris currency accord among six major industrial nations last month does not necessarily mean the yen should stay stable around current levels in the future
port officials said the national halt had already caused losses estimated at 15 mln dlrs
but they generally agreed that these instruments provide the borrower with greater flexibility and lower costs than a traditional bond
but there were also limits to the impact west germany could accept on exports from a rising mark he said
shr loss 386 dlrs vs profit 37 cts net loss 24973000 vs profit 2389000 sales 625 mln vs 653 mln year shr loss 322 dlrs vs profit 132 dlrs net loss 20861000 vs profit 8515000 sales 2680 mln vs 2727 mln note 1986 earnings include a provision for restructuring costs of 23675000 dlrs or 366 dlrs a share pre tax and the effect of adoption of fasb 87 which reduced pension expense by 617000 dlrs for the quarter and 1817000 dlrs for the year before taxes earnings include nonoperating income from the effect of nonrecurring gains of 1811000 dlrs in the 1st qtr of 1986 from the sale of its minority interest in plexus corp and 1480000 dlrs in the 3rd qtr of 1985 related to the sale of excess property
wessanen foresees strong profit growth
cook united inc said it expects to report a loss a loss of 16 mln dlrs before an extraordinary credit of 44 mln dlrs resulting from its chapter 11 reorganization on sales of 217 mln dlrs for the year ended january 31 1987
york financial yfed splits stock
toronto dominion bank nassau branch is issuing a 40 mln australian dlr eurobond due may 15 1990 paying 14 1 2 pct and priced at 101 3 8 pct lead manager hambros bank ltd said
its too late lyng told the national grain and feed association convention here
florida employers insurance co flae year 1986
yeutter said at least people seem to be going down the same road but how that translates ultimately into negotiations is another matter entirely there seems to be an understanding of the need to deal with the problem quickly and a more common understanding of how we are going to get from here to there yeutter said
1985 4th qtr excludes a loss of 4570000 dlrs and 6330000 dlrs respectively for discontinued operations
home federal bank of florida fsb hfbfo said it has scheduled a special shareholders meetng for july 26 to approve proposed changes to the banks charter and merge with barnett bank incs barnett bank of pinellas county na home federal said the meeting is to approve a definitive agreement signed may 26 calling for each share of home federals common stock to be exchanged for about 40 dlrs in market value of barnett common stock
terms were not disclosed
the company now has flexibility to pursue a strategy of increasing its presence in the paper products market
skandinaviska enskilda banken is issuing a 10 billion yen bond due october 23 1992 carrying a coupon of 4 1 2 pct and priced at 101 3 8 lead manager daiwa securities international europe ltd said
toyot belong to both
qtly div 10 cts vs 10 cts in prior qtr payable april 22 record april 10
the report said latin america continued to emerge slowly from the deep recession that began in the early 1980s with gross domestic product edging up to nearly four pct from 35 pct in 1985
synalloy corp said it has ended talks on the sale of its blackman uhler chemical division to intex products inc because agreement could not be reached
the us currency traded within a 145 basis point range in europe touching a low of 17940 and a high of 18085 marks
oper shr 10 cts vs eight cts oper net 325000 vs 228000 sales 7070000 vs 6483000 avg shrs 3313000 vs three mln year oper shr 69 cts vs 51 cts oper net 2124000 vs 1536000 sales 312 mln vs 227 mln avg shrs 3071000 vs three mln note 1986 net both periods includes 72000 dlr tax credit
finance minister boris gustev told the supreme soviet defence spending in 1988 would total 202 billion roubles the same as announced last year
as an example he cited sterlings role as a petrocurrency which he said was diminishing
the group said it may buy more shares and plans to study robesons operations
a house staff member involved in drafting the landmark 1986 immigration law who asked not to be identified said congress did not mean to extend special amnesty provisions to workers who helped cultivate tobacco and that inclusion of hops and spanish reeds was marginal in addition lawmakers made it clear during consideration of the bill that lumber workers were not to be covered by the the amnesty provisions making the inclusion of christmas trees a tough call this source said
brierley investments overseas nv is issuing a 100 mln dlr eurobond due april 30 1992 paying 8 1 4 pct and priced at par lead manager banque paribas capital markets said
austrian 1987 growth seen between 05 and 15 pct
commerce ministry officials told the import policy covered only commercial imports amounting to 1805 billion dlrs
chit said a new joint venture company will have a registered capital of four mln dlrs
caledonian airmotive repairs and rebuilds aircraft engines
the company said if this is approved it intneds to pay holders of class b stock a quarterly cash dividend of five cts per share and holders of the other common stock a quarterly cash dividend of six cts per share
it did not identify the buyer nor give the selling price
bush industries inc bsh 1st qtr net
minorco mnrcy sees improved second half
dow chemical dow to increase prices
tug crews are preventing the movement of foreign flag container vessels in and out of the ports of sydney melbourne and fremantle shipping sources said
bluefield supply bfld in liquidating payout
an estimated 65 pct of egypts arsenal is still made up of soviet supplied equipment one official said
greece has agreed to buy between 27000 and 33000 tonnes of spanish corn a spokesman for cargills spanish unit compania industrial y de abastecimiento sa cindasa said
owners of two aluminum smelters in kentucky received temporary relief from higher electric rates after a decision tuesday by state regulators denying a rate hike to big rivers electric corp of henderson ky
nippon columbia co ltd ncolt will make a one for 20 bonus stock issue on july 14 to pay back remaining premiums accumulated by 45 mln shares issued at market price through public placement in september 1980 a spokesman said
general refractories grx to sell operations
zenchiku issues 40 mln dlr equity warrant bond
he noted negotiations between mexico and gte sprint the forerunner of us sprint had been broken off by the september 1985 earthquake which had devastated the nations telephone network
kobeya baking has swiss franc private placement
but there is no way they can trade their way out of this situation aldo roldan vice president for international services at chase econometrics said
woolworth eased to 813p from 830p
molpus told a senate agriculture subcommittee that ame and other livestock and farm groups intended to file a petition under section 301 of the general agreement on tariffs and trade against an ec directive that effective april 30 will require us meat processing plants to comply fully with ec standards
earlier echlin reported first half fiscal 1987 ended feb 28 earnings of 232 mln dlrs or 48 cts a share up from 166 mln or 40 cts a share in the prior years first half
but its still too early to talk about disastrous losses
audiotronics corp ado to offer debt
british petroleum plc bp left propane unchanged at 110 dlrs and raised butane prices 550 dlrs to 123 dlrs shell a unit of royal dutch shell group rd st raised propane three dlrs to 113 and butane 550 dlrs to 123 dlrs they said
the redeemable notes priced at 101 7 8 pct is being offered through bank of tokyo international ltd daiwa europe ltd nomura international ltd credit suisse first boston ltd morgan stanley international and 19 other institutions
two weeks ago rabobank issued a 250 mln guilder 675 pct bond at par giving it a yield 040 above the average bank loan yields that day of 635 pct
faced with the possibility that he might have to go to the us virtually empty handed nakasone today ordered his ruling liberal democratic party ldp to come up with its own measures
in addition he signaled that the banks might want to reconsider the idea of a megabank where third world debt would be pooled and suggested the administration would support such a plan even though it was not formally proposing it
greyhound corp said it has signed a definitive agreement to buy general motors corps us transit bus and parts business for an undisclosed sum
merrill lynch uk executive charged by sec
shr loss eight cts vs profit six cts net loss 669609 vs profit 530641 sales 949 mln vs 839 mln avg shrs 7934064 vs 8220797 nine mths shr profit 19 cts vs profit 55 cts net profit 1494218 vs profit 4486510 sales 2891 mln vs 2766 mln avg shrs 7930961 vs 8208033
oil and natural gas liquids sold for an average 1420 dlrs a barrel in 1986 a reduction of 37 pct
argentina has already committed four mln tonnes of this years corn for export a usda official said with two mln tonnes of that booked for april june delivery to the ussr
consolidated tvx mining corp said it agreed to issue 78 mln treasury shares to acquire interests in three gold mining companies in brazil and an option to increase the companys interest in a platinum property
he said indonesia is expected to export a substantial amount of coffee this month without such restrictions
cut were the parents senior and guaranteed debt to aa 3 from aa 2 and subordinated debt to a 1 from aa 3 and the lead banks long term debt and deposits to aa 1 from aaa
the inland revenue statement also included other technical measures that lawson did not comment on in his budget speech
victorian public authorities finance agency is issuing a 100 mln canadian dlr bond due april 15 1992 paying 8 1 2 pct and priced at 100 5 8 pct lead manager wood gundy ltd said
under current law producers must plant at least 50 pct of their base acreage to be eligible for 92 pct of their deficiency payments
the federal home loan bank board adjusted the rates on its short term discount notes as follows maturity new rate old rate maturity 30 69 days 500 pct 500 pct 30 124 days 70 88 days 592 pct 590 pct 125 150 days 89 123 days 500 pct 500 pct 151 173 days 124 150 days 593 pct 592 pct 174 182 days 151 349 days 500 pct 500 pct 183 349 days 350 360 days 598 pct 594 pct 350 360 days
sri lankan food department officials said the us department of agriculture rejected a us firms offer of 80 us dlrs per tonne caf to supply 52500 tonnes of soft wheat to colombo from the pacific northwest
the company said the offer represents a major step in restructuring the company
originally occidental had planned to offer 30 mln shares
the state owned copper company of chile codelco produces around 90 pct of the countrys copper output of some one mln tonnes per year
the official forecasting agency centraal planbureau cpb publishes its 1987 outlook at the start of a week which will also see a key parliamentary debate on government finances and the economy
2nd qtr shr four cts vs seven cts net 500000 vs 900000 revs 9200000 vs 105 mln 1st half shr four cts vs 12 cts net 600000 vs 1500000 revs 176 mln vs 208 mln note period ended february 28
the inverse floater totals 48 mln dlrs
finance minister gerhard stoltenberg said he was surprised by recent criticism of west german economic policies voiced by us treasury secretary james baker but added that the criticism was not purely one sided
the white house said the rise in interest rates was unfortunate in a general sense but reflected market forces
the department said about 2600 american citizens live in iran the overwhelming majority dual nationalities
amsouth bancorp aso sets exchange ratio
the european communitys ec cereal management committee granted export licences for 5000 tonnes of quality soft bread making wheat at a maximum export rebate of 13475 european currency units ecus per tonne traders said
the transcanada proposal could open the bidding for dome since other potential buyers were probably waiting for lenders to agree to a restructuring he added
the bonus was awarded to the pillsbury company
amb said the 500 mln mark drop in bfgs business volume to 501 billion marks affected the interest surplus
cpc said although the extent cannot yet be determined the company expects that 1987 earnings per share will increase by substantially more than the previously estimated 20 pct increase over 1986 in 1986 cpc earned 230 dlrs per share
current year figures include security gain of 46 mln dlrs or 64 cts per share vs gain of 415 mln dlrs or 583 dlrs per share
baldrige said the reagan administration hoped the strong us action against japan would convince congress to tone down protectionist trade legislation now being drafted
quantech electronics corp said it is investigating available means of raising additional funds needed to finance continuing operations but there is no assurance that it will succeed
discussions with nbc on the merger of the two companies radio units were suspended in december
us west inc usw 3rd qtr net
year ago earnings not comparable because of acquisition by aancor holdings inc on april 29 1986
oak had a tax loss carryforward of 125 mln dlrs at the end of 1986
under the system importers will be required to present a bill from the foreign seller of goods and apply for a license for foreign exchange
takashi ishihara chairman of the japan committee for economic development said the accord will not prevent the yen from rising further
now the face value of the bond will be added to the value of the property
the bank of england said it gave the money market assistance worth 106 mln stg this afternoon buying bank bills at the rates established on monday
union shippers agree to cut ny port costs
the sia is a trade association representing the interests of more than 500 us investment banks and securities firms
but they were isolated to just a small portion of the west texas area probably less than five pct mohler said
sumitomo bank of california said it declared a 7 1 2 pct stock dividend in addition to its regular quarterly cash dividend of 29 cts per share
a tourist hotel in suzhou jiangsu province is raising a 21 mln us dlr loan to cover its construction cost lead manager dnc ltd said
some 247 billion dlrs in bids for six month bills were received including 832 mln dlrs in non competitives
bhpgm chairman designate john gough said it was a quality gold stock
fekete said hungary would continue to restructure its debt profile by prepaying high interest shorter and medium term loans with cheaper long term money for which it was looking more and more to the fixed interest rate bond market where he considered rates to be low
white house welcomes rise in indicators
the uk oil marketing and refining industry will need to invest larger sums probably around 500 mln stg a year for a good many years he said in a statement
french oilseeds experts added the principle of a single tax regardless of varying quality was clumsy and capable of unneccessarily alienating exporters such as the us
one analyst speculated that coke became the rumored suitor because wendys decided to sell coke at its fountains instead of pepsi
dealers said federal funds were trading at 6 3 16 pct when the fed began its temporary and indirect supply of reserves to the banking system
it said the redemption is part of a restructuring in which it has said it would divest itself of certain discontinued businesses repurchase shares and reduce long term debt
however the figure for january alone showed a fall in output of 01 pct from a year earlier
central bank special drawing right holdings were 282 billion crowns compared with 289 billion in december and 213 billion a year ago
analysts estimated the value at about 16 billion dlrs based on 385 mln shares outstanding
extraordinary debit 365 mln vs 204 mln
the international challenge implicit in our huge trade deficit has become the 1980s equivalent to the launch of sputnik by the russians in the 1950s when we suddenly feared we were to be left in the wake of soviet technological achievement he said in an address to florida educators
each nation must negotiate its debt independently according to its own needs brazilian foreign minister ramiro de abreu sodre said in caracas at the weekend
geonex said southern bell will let cas continue work in progress and it expects to perform mechanized posting and records conversion for southern bell through 1989
us sees no new coffee agreement talks soon
co steel inc 4th qtr net
as in the first three signups the great plains area is expected to attract the greatest enrollment
eurotunnel the anglo french channel tunnel consortium will offer potential backers a wide choice of ways to invest in a planned 750 mln stg capital issue later this year co chairman alastair morton said
analysts are looking for build of between 35 mln barrels to a six mln barrel draw for the week ended march 27
wifo chief helmut kramer told a new conference that he saw the one pct figure which compares with 18 pct last year as the upper limit of growth
row crop activity was very slow amid wet conditions
in sri lanka the drought has come when rainfall should be at its maximum for the year
the group which includes hlm associates hlm associates ii and their three general partners said it sold the stock between april 22 and june 9 at 900 to 9125 dlrs a share as the result of an investment decision
pettee estimated 58 dlrs would be in a more reasonable range based on other airline mergers
british farm minister attacks subsidies
pittston said wtcs three principal shareholders who own 62 pct of its stock are parties to this agreement
at this weeks tender on monday the bank sold a total of 298 billion francs worth of 13 week bills 319 billion francs worth of five year bills and 269 billion francs worth of two year bills
a move by these industries to countries outside the ec cannot be ruled out he added
it said it has also filed for proposed service agreements for interruptible and firm transportation service
the bank of japan will continue to adhere to a system of policy coordination based upon the louvre accord of february he said
corrected lifetime lft to buy nippon lace sahres
coarse grain supply demand by country usda
the oecd predicted that domestic demand would come under pressure from tight fiscal policy in denmark as well as norway sweden and finland
the philippines offers a textbook case of the economic dangers
madagascar has signed oil exploration agreements with four foreign oil companies since 1981
he told a lower house budget committee in parliament that it was natural for other nations to think that japan is not doing enough because of the delay in the passage of the 1987 88 budget
the cost of certificates said the gao source depends on the programs impact on the usda loan program
nippon life insurance co is pursing a possible link with an american securities house to expand its overseas investment portfolio a company spokesman said
terms were not disclosed
corning said the prospectus regarding the merger is expected to be mailed tomorrow to all hazleton holders of record february 18
malaysian crude palm oil cpo production fell to an estimated 270400 tonnes in february from an estimated 273300 tonnes in january and 332995 in february 1986 the palm oil registration and licensing authority porla said
opponents to a 0 92 feedgrains program argue it is premature to make major changes in the farm bill and that the house agriculture committee needs to study more closely the impacts of such a program
newmont holders will receive 80 pct of magmas stock as a dividend of one share for each of the 30458000 newmont shares now held
energy development said the transaction increases its units outstanding to 126 mln and raises total proved reserves as of the end of 1986 27 pct
southmark sm to offer special dividend
the payment date is april 27
baker seen winning german interest rates battle
the official who declined to be identified said orion the merchant banking arm of royal bank of canada had operated profitably in the market from 1984 to date
bankers say it is too early to venture a forecast for economic growth this year or next
the dollar fell over the weekend on increased bearish sentiment after bakers comments said dai ichis tanaka
the research arm of nomura securities co forecast unemployment would exceed two mln by mid fiscal 1987 against an estimated 175 mln for the current year
for the year it reported a net loss of 65 mln dlrs or 70 cts per share as a result of writedowns in the book value of its oil and gas properties in the first two quarters
general motors corp will idle six of its car assembly plants next week temporarily laying off 21600 workers according to spokespersons for the companys groups
allegheny said the agreement calls for holders of its common to receive 2460 dlrs a share
steel technologies inc said it signed an agreement with mitsui and co ltd mitsy and its subsidiaries to establish a joint venture corporation to be called mi tech steel inc
he attributed the good surplus on exports of manufactured and semimanufactured goods
under federal and provincial government regulations expected to be in place by june 30 banks trust companies and foreign companies will be allowed to acquire existing investment dealers or establish their own securities subsidiaries
banknotes in circulation rose by 834 mln francs to 2479 billion while other deposits on call mainly government funds fell 160 billion francs to 104 billion
fees consist of 5 8 pct for management and underwriting including a 20 basis point praecipuum and 1 1 4 pct for selling
uk money market deficit revised upward
they have informed me that they like our company and purchased the stock last year for investment purposes santa fe chairman john schmidt said in a statement
trc runs a rail network linking dar es salaam and the northern port of tanga with the coffee growing area around mount kilimanjaro and ports on lake victoria and lake tanganyika
the world bank african development bank european community canada belgium west germany britain sweden italy and denmark had contributed to the package he said
coupon and conversion price for both par priced bonds will be set at a board meeting to be held later this month and payment is due on may 14 mitsubishi said in a statement
anchor glass agls now sees higher 1st qtr net
mtech said it granted the underwriters an option to buy an additional 1125 mln dlrs in principal amount of the debentures to cover over allotments
franklin gold fund cuts dividend
the economists said the service sector should grow as the government stimulates domestic demand under its program to transform the economy away from exports
yen may rise to 140 to the dollar nikkeiren says
the new york firm will be known as deak international trading ltd the company said
the central bank for the first time has an instrument with which it really can influence the price of money in this country one banker said
to become operational it will require ratification by countries accounting for 75 pct of world exports and 75 pct of world imports
honduras seeks pl480 vessels for tallow delivery
diamond shamrock corp said it will redeem may 29 the entire outstanding amounts of three separate sinking fund debenture issues
magnetic controls managed by the data storage products group of control data was founded in 1975 as a joint venture to maintain a technological base in data storage and supply peripheral equipment for the computer systems of its owners
the managers of the facility are westpac bank of montreal asia ltd bot international hk ltd commonwealth bank of australia and credit industriel et commercial de paris
the company the second largest natural gas producer in texas said it has gas reserves of 12 trillion cubic feet and over 1000 miles of pipeline and gas gathering lines
intercare inc said it expects to report a substantial loss for its fourth quarter ended january 31 because of a writeoff of expenses associated with its recently terminated debt and equity offering
the bonds will be listed in london and will be issued in denominations of 1000 stg
azpurua told reporters yesterday the document is in its final phase of preparation and will be soon be sent to banks for approval
he said the survey showed currency transactions by trade houses and exporters contributed little to the dollar fall
moreover doubts had developed about the course of us interest rates
yugoslavia debt payments to be adjusted to exports
the united states and japan are on the brink of serious conflict on trade especially over semiconductors japanese unwillingness for public bodies to buy us super computers and barriers to us firms seeking to participate in the eight billion dlr kansai airport project us trade representative clayton yeutter said
last year the house approved his idea to force an annual 10 pct trade surplus cut by those countries
petroleum intelligence weekly an influential trade journal said in its current issue that they understood that exxon was looking at the possibility of refinery closures in antwerp southern france or possibly italy
more ccc credit guarantees for algeria usda
world group turnover comprised domestic sales 1083 billion vs 1080 billion foreign sales 2718 billion vs 3192 billion
century said community cable is located in san juan puerto rico
rowe price associates with 22 billion dlrs in assets under management
production of natural gas liquids in 1986 declined slightly to 304178 bpd from 316310 said the report carried on the official saudi press agency
german institute sees inflation rising in 1987
henry ansbacher holdings plc said it has acquired a 51 pct interest in the us retail and general corporate insurance broker adams and porter inc the move is the first step in building a new international insurance broking group following the appointment of a new management team for its seascope insurance holdings unit
barley rebates of up to 13850 ecus were requested for a total of 40000 tonnes and at 139 ecus for 85000 tonnes
france backed the ivory coast and other african producers during the talks
it is too difficult to forecast now
total corn commitments for delivery in the 1986 87 season amount to 1083400 tonnes
however the companys convertible bonds had been trading since the companys share price provided a benchmark to which dealers could establish a proper price level
its not unusual that someone could be looking at burlington after the housecleaning theyve done said eileen gormley of thomson mckinnon
the central bank made outright purchases of bank bills comprising 100 mln stg in band one at 9 7 8 pct 56 mln stg in band two at 9 13 16 pct 112 mln stg in band three at 9 3 4 pct and 16 mln stg in band four at 9 11 16 pct
the companys total revenues in 1986 declined to 4823 mln dlrs from 7625 mln dlrs the previous year
prior quarter and nine month per share figures not applicable because company began operations in october 1986 with the acquisition of gould incs gld medical products group
that distaste stems in part from fears of recession
moodys investors service inc said it cut to caa from b 2 allegheny beverage corps 112 mln dlrs of subordinated debt
ecuador plans to produce 280000 bpd in august rising to 320000 bpd next january the minister said
straits trading co ltd stcmsi year
peter beutel analyst at elders futures inc said crude oil futures contracts on new york mercantile exchange rose to new highs this afternoon following news of the pipeline break
the new exchange now planned will apply to the securities and investments board for recognition as an rie at the appropriate time the agricultural futures exchange said
it said a bank can sell the bonds on the secondary bond market for either dlrs or pesos depending on its requirement
he said the city was willing to use commercial loans to finance technological improvements to factories which could show a quick return in increased exports and foreign exchange earnings
the united states sees 32 pct growth for itself continuing its expansion for a fifth year and has asked other industrial countries to stimulate their economies
for the year 1986 the provisions for mergers and restructuring expenses brought non recurring expenses to 40292000 before tax gains of which 8863000 represented merger costs and 31429000 related to restructuring of the combine operations
an embassy official declined to identify which issues remained to be resolved and when the talks would resume
revenues rose to 2918 mln dlrs from 1511 mln dlrs
robert watson a program manager for atmospheric problems at the us national aeronautics and space administration said a protocol should demand an initial freeze on the use of cfcs by industry
his remarks were concerned with a comprehensive economic stimulative package the government plans to adopt in the coming days
houston metals mine yields positive results
qtly div 15 cts vs 15 cts previously pay may 15 record april 18
they said traders expected riyal deposits to follow the recent strong rise in eurodollar rates sparked by fears of a tighter us monetary policy to halt the dollars slide
china is a major copper importer
national bank mortgage issues canadian dlr bond
the debtors have been performing well some people argue that taking 1 1 8 pct down to 13 16 pct is debt forgiveness
this is going to take time they said the government would consider its options at a cabinet meeting on thursday but added that no final decisions were expected
chinas first securities market opened last year in the northeast city of shenyang and since then others have opened in shanghai peking and harbin
he thinks the confrontation with brazil could end in a replay of a situation that occurred with argentina in 1984 and 1985
the sterling notes will be sold in denominations of one mln and 500000 stg and will have maturities of seven to 364 days
the seven year ntpc bond was oversubscribed three times brokers said
their product is simply deals and that is not a product which a country can base a future on last year mercer fought off a takeover attempt by british industrialist sir james goldsmith
1985 net both periods excludes 168000 dlr loss from discontinued operations
sunbelt nursery group inc sbn 2nd qtr feb 28
sales in local currency terms were up by 14 pct with market share increases in the united states and japan
hongkong bank says close to deal on property sale
the private placement for the belgian utilities finance company is for payment on may 26 and coupon payments are annually on may 27
japanese brokerages are consistently heavy buyers of us treasury issues
the bundesbank said in its february report that it was wrong to believe that the first stage of the tax reform in 1986 could be managed without increasing deficits
it argues there might be instances in which a country needed the money to continue its moves toward us policies in other areas
plains resources inc plns year loss
exxons new president lee r
miguel urrutia a senior official of the inter american development bank for instance said iadb lending had actually declined in 1986 and had started slowly in 1987
the senate this week might take up proposed legislation that could serve as a lightning rod to expose broad initiatives to change us farm policy
one adr represents 075 pct of one b free share in pharmacia
japan wholesale prices fall 01 pct in february
the six nations agreed in paris exchange rates prevailing then were broadly consistent with underlying economic fundamentals and further substantial rate shifts could damage growth and adjustment prospects in their countries the paris statement said
total 1985 turnover was 42 billion guilders
newmont gold corp expects gold sales in 1987 to rise about 22 pct to 577000 ounces from 1986s 474000 ounces the company said in its annual report
the usda is due to release planting intentions figures march 31
national beverage corp said it agreed to acquire faygo beverages inc for an undisclosed amount of cash
swift sftpf to sell south dakota pork plant
future discussions on international wheat trade should include three topics a commitment to privatization of government run export trading entities a commitment to public disclosure of sales and other terms if government entities are involved and a recognition that supply reductions by the us have kept world prices higher than they otherwise would be the two organizations said while the australian proposals are welcome the two organizations said they are not in total agreement with their assessments
royal bank canada brazil unit sees growth
wheat tobacco tea coffee jute engineering and electronic goods as well as minerals including iron ore are all on offer in return for crude oil petroleum products chemicals steel and machinery trade sources told 
they said the reduction brings exxons contract barge price to 4975
uap makes acquisitions
american home shield corp ahsc 4th qtr net
the issue is callable in the first three years only if the stock prices rises abouve 130 pct of the conversion level
the elimination of price limits on precious metals contracts trading at the commodity exchange in new york appears to be having little effect on the market analysts said
the company would like to have the option of providing long distance service within and outside its region he said
he said in reply to inquiries that rates could rise further if money supply growth rose above this years eight pct target for m 4 defined as liquid assets in public hands
monier is the largest concrete roof tile manufacturer in australia the us and new zealand and the worlds largest marketer of fly ash according to its annual report for 1985 86 ended june 30
french cereal exports through the port of rouen fell 64 pct to 725023 tonnes during the period february 1 to 25 from 774704 for the period february 1 to 26 last year trade sources said
the senate unanimously approved legislation to lift a ban on new construction of natural gas fired power plants and other large industrial gas burning plants
the company earned 286969 dlrs in last years fourth quarter
after a rise of 18 pct in 1986 the dollar price of internationally traded manufactures will go up by 85 pct in 1987 and by five pct in 1988 it said
oper shr 16 cts vs three cts oper net 1930000 vs 391000 revs 3139 mln vs 3089 mln avg shrs 119 mln vs 120 mln year oper shr 60 cts vs 27 cts oper net 7215000 vs 3340000 revs 123 billion vs 116 billion avg shrs 119 mln vs 120 mln note prior year net excludes gains 4896000 dlrs in quarter and 8873000 dlrs in year from termination of overfunded pension plans
nutone makes built in electric products for the housing market and yale makes door locks and electronic security products
pakistans 1986 87 exports at 36 billion dlrs 182 per cent more than in the previous year and imports at 523 billion dlrs compared to 563 billion dlrs in 1985 86
wells fargo and co wfc 3rd qtr net
affiliated which owns the company that publishes the boston globe said the acquisition will give it a strong position in the growing market for specialty magazines
australias largest company the broken hill pty co ltd brkns bhp is expected to report a net profit of around 600 mln to 620 mln dlrs tomorrow for the first nine months ended february 28 share analysts polled by said
it said it may take legal action or seek the support of shareholders in calling a special meeting to replace the board and to consider other proposals it might develop
pay date is april 7
this would be equal to about 25 pct of the total winter crop and would be the second highest winterkill in ten years the usda analyst said
mobil oil corp of us plans to open an office in peking to develop oil exploration opportunities in china the china daily said
gradual warming continued in most regions of western soviet union in the week ended april 4 the joint agricultural weather facility of the us agriculture and commerce departments said
service resources src unit cuts sorg srg stake
in the interview eyskens made clear he was hoping for a wide ranging discussion on the future of the eight year old ems on the basis of proposals for bolstering it drawn up by the ecs monetary committee and the committee of central bank governors
but the new study reported in thursdays new england journal of medicine shows the diseases can spread to humans
us oil demand as measured by products supplied rose 21 pct in the four weeks ended february 27 to 1639 mln barrels per day bpd from 1605 mln in the same period a year ago the energy information administration eia said
dixons group plc said the securities and exchange commission has authorized but not commenced the filing of an action against it concerning its waiver of a condition in its tender offer for cyclops corp
but tenneco today said open access is one of the steps ferc is taking to restructure the gas industry in the us ferc is moving the industry through this restructuring now even before all transitional problems are solved a spokesman said tenneco faces 17 billion dlrs in exposure under the take or pay contracts but he had no specific figure for tennessee gas which runs 2000 miles of pipelines from louisiana and texas up to new england
stephens replaces jack gill who is retiring early aged 57
us banks have 50 pct representation on the committee while holding only 35 pct of brazils debt to banks he said adding this is not fair with the european and japanese banks the committee had played a useful role in 1982 and 1983 however
the houston based company which produced a daily average of 120 mln cubic feet of gas and 11149 barrels of oil said it had proved reserves at yearend 1986 of 286 mln barrels of oil and 954 billion cubic feet of natural gas
shr 13 cts vs 10 cts net 1109000 vs 875000 revs 166 mln vs 132 mln nine mths shr 44 cts vs 33 cts net 3770000 vs 2851000 revs 469 mln vs 369 mln note share adjusted for three for two stock split in june 1986
under the proposals usda would offer vegetable oil under the export enhancement program eep to four countries including 80000 tonnes to turkey and 60000 tonnes to algeria morocco and tunisia industry sources said
air canadas 54 mln us dlr acquisition of gelco corps gec canadian unit has dramatically altered canadas fast growing courier industry largely dominated by us companies until this year company officials and analysts said
one factor affecting industrial growth was the introduction of a new quality control plan western economists said
baker sees lower japanese trade surplus
shr loss 83 cts net loss 2115000 revs 1396 mln avg shrs 36 mln note company went public february 1986
other field participants include canterra energy ltd mobil oil canada ltd gulf canada resources inc icg resources ltd trillium exploration corp and general partnership parex
municipality of toronto issues canadian dlr bond
in a separate statement on japan the ec ministers said they deplore the continued aggravation of the imbalance in trade and expect japan to open up its market more the statement said the ec would continue to insist that japan boost imports and stimulate domestic demand
circuit city stores inc cc sets quarterly
the company also said its natural gas revenues so far this year have been reduced by lower contract customer purchases due to mild weather and soft economic conditions
the insurance broker issued a statement in reply to recent press speculation which it said was in part inaccurate and undesirable willis faber has not received any offers for its stake in morgan grenfell it said adding that an offer would have to be considered on its merits
bi inc said it is implementing a one for 15 reverse split to shareholders of record today
it is available in denominations of 5000 and 100000 canadian dlrs
republic american corp rawco 3rd qtr net
detroit edison also said because of a decision to modify fermis reheating apparatus the company has set back the schedule for the plants commercial operation run to early june from may one
he said there has been some uncertainty this year about the soybean loan rate which acts as an effective floor for prices by keeping supplies away from the free market
taiwan dollar and reserves seen rising more slowly
in addition it bought four mln stg of bills for resale to the market on march 30 and two mln stg for resale on april 8 at a common interest rate of 10 7 16 pct
dividend payable may 25 books close april 28 to may 6
his position within the ldp itself is not so strongly established today nakasone who has been more popular with the general public than with many ldp members is now seeing his public support eroded the analysts said
interest rate differentials too small banker says
sumita also said he did not see the recent dollar drop as anything like a free fall
saudi arabia the worlds largest oil exporter will continue to restrain production as long as other opec members adhere to the pact nazer said
the company said a definitive merger agreement is expected to be negotiated within six weeks and shareholders are expected to vote on the deal at a meeting expected to be held in june or july
a group of firms led by hong kong based industrial equity pacific ltd said it acquired 969515 shares of triton oil corp common stock or 54 pct of the companys common stock outstanding
exxon xon raises heating oil price traders
schering said it will retain dr
fees comprise 1 1 4 pct selling concession and 5 8 pct management and underwriting combined
pre equity net 5207 mln dlrs vs 4335 mln after tax 345 mln vs 1634 mln minorities 400 mln vs 644 mln interest 3389 mln vs 2611 mln and depreciation 267 mln vs 272 mln but before net extraordinary loss 2039 mln vs 1379 mln
the selling concession is one pct while management and underwriting combined pays 1 2 pct
none of us really wants to injure negotiations that might be going on he said
white engine a manufacturer of industrial and automotive diesel and gasoline engines with more than 100 mln dlrs in sales said it has been sold to a group of group investors
national fuel gas said the split will be paid to holders of record may 29
it said mckesson envirosystems current annual gross revenues are about 14 mln dlrs
1987 3rd qtr and nine mths has 29 mln and 74 mln dlrs for tax credits
individual segments in many countries may lose in the process but it should result in a more rational system of world wide production within 10 or 15 years he said
media general said the increased dividend is payable june 12 to shareholders of record may 29
in january the index fell 11 pct from a year earlier the first drop of over one pct since a 13 pct drop in september 1958
refined palm oil traded in bulk us dlrs per tonne fob
the world banks one billion luxembourg francs of seven pct eurobonds due 1997
the company reported its 1986 profits were 44 pct lower at 1546 mln guilders than in the year before
the department said the provision of the farm disaster assistance act will be available to all eligible winter wheat producers producers of other types of wheat who were prevented from planting their 1987 wheat crop because of a 1986 natural disaster and all producers who operate farms with program crop acreage bases subject to flooding on 50 pct of such crops permitted acreage
john dingell the michigan democrat who chairs the house panel responsible for the secs budget and operations
the bond may be retired between 1991 and 1996 if the secondary price does not exceed par
sumita says bank of japan has no intention of lowering its discount rate
ferruzzi may float up to 49 pct of paris unit
mti did not say when the devaluation would become effective but it expected new rates to be announced later today
may said the chicken industry favored moving away from bird by bird inspection procedures to a risk assessment system better able to identify microbial and bacterial contamination of poultry
shr 30 cts vs 17 cts shr diluted 30 cts vs 17 cts net 3454000 vs 1546000 sales 840 mln vs 592 mln avg shrs 116 mln vs 8917000 avg shrs diluted 117 mln vs 112 mln nine mths shr 91 cts vs 72 cts shr diluted 90 cts vs 65 cts net 105 mln vs 5959000 sales 2367 mln vs 1689 mln avg shrs 115 mln vs 8227000 avg shrs diluted 116 mln vs 112 mln
if opec adopts the provisional ceilings of 166 mln bpd in third quarter and 183 mln bpd in the fourth there will probably be room for overproduction in the third quarter when demand for its crude will probably be 175 to 18 mln it said
hogan systems inc said it acquired systems 4 inc of durango colo for 17 mln dlrs
miyazawa also said he told major industrial nations when he was in washington last week that present exchange rates are not necessarily good
allis chalmers in 1986 reported a net loss of 86 mln dlrs or 109 dlrs a share
he said it was too early to revise official forecasts for west germanys economic growth this year
monumental corp a us insurer which merged with aegon in may 1986 saw its profits almost completely eroded by these costs and made only a small contribution to the groups profits
public service enterprise peg 3rd qtr net
the united states controls 345 pct of the vote and wants a loan veto to exist at the 35 pct level
coupon date is july 15
noting that a shortage of power constrains pakistans economic development the bank said one objective of the project is to provide at least 200 megawatts of additional generating capacity
refineries should operate near 75 pct of capacity given the current level of demand but the operating level should increase as gasoline demand picks up in the next quarter buckler said
taft said the board concluded that the offer failed to recognize fully the future propsects of the company and directed management to explore alternatives including possible financial restructuring
chrysler corp said it is asking shareholders to increase the number of shares of authorized common stock to 500 mln from the current 300 mln
the federal reserve bank of new york will act as the central processing site for reconstituting securities the treasury said
production in the 30 countries which report their figures to it was 69 pct below the february 1986 level at 3203 mln tonnes
calmark headquartered in los angeles develops manages and syndicates real estate northview also said
he said according to ico statistics there was a shortfall of nine mln 60 kg bags on the world market between october the start of the coffee year and february
louis dreyfus 3700 tonnes same corn for may 10 june 5 at 7568 dlrs fob gulf
the nigerians also are attempting to reconcile creditors claims with their own receipts on some two billion dlrs of letters of credit contained in the commercial bank rescheduling
indeed futures traders with cash bond connections said some of the late strength in the bond market resulted from buying by japanese interests
this would require banks in turn to cease accruing interest and set aside expensive loan loss reserves
the agency said it will repurchase treasury bills with a simultaneous agreement to resell them to the same bank at a higher price which will reflect an interest charge
spar sees sees strong five year growth
he said the wheat trade because wheat can be produced in many nations is a good barometer of world grain trade and could lead to more activity in other grain markets
new york coffee futures prices will probably fall to about 85 cents a lb in the next month before a consolidation trend sets in according to market analysts
frances caecl issues three billion franc bond
crossland savings crld acquires western savings
but the defense department also said today that weinberger and baldrige differed on the proposed sale of us computer equipment to iran
co lead manager is mitsubishi finance international ltd
imperial oil said it expects to spend about 750 mln dlrs on capital and exploration expenditures in 1987 compared to 648 mln dlrs in 1986 and 116 billion dlrs in 1985
the deferral of all principal payments until april 1989 will save the company 12 mln dlrs in cash flow in each of the next two years it said
general partners in gencorp gy proxy fight
other itc creditors have brought direct actions against the councils member states and an application by the governments to strike out the first of these brought by jh rayner mincing lane ltd is to be heard on may 11
oper shr loss three cts vs loss three cts oper net loss 388000 vs loss 452000 revs 1425000 vs 1126000 year oper shr loss 26 cts vs loss 15 cts oper net loss 3604000 vs loss 2108000 res 5712000 vs 6604000 note 1986 net both periods excludes 413000 dlr gain from settlement of old obligations
martin said the coming rebound reflects new product introductions in the mid range area rather than any drastic improvement in economic growth or us capital spending
uk officials are studying the possible link between the use of antibiotics in calf feeds and the spread of drug resistant strains of salmonella in humans a ministry of agriculture official said
shr loss five cts vs loss eight cts net loss 657000 vs loss 566535 revs 9341755 vs 260468 avg shrs 14323384 vs 7081688 nine mths shr loss 19 cts vs loss 39 cts net loss 2449094 vs loss 1408789 revs 15571230 vs 683684 avg shrs 12655172 vs 3612300
the class j five bonds totalling 49987 mln dlrs will be fully paid by august 2017 and priced at par to yield 857 pct
year oper shr 123 dlrs vs 185 dlrs oper shr diluted 123 dlrs vs 179 dlrs oper net 6799000 vs 9321000 revs 7474000 vs 124 mln avg shrs 4503000 vs 4350000 avg shrs diluted 4508000 vs 5206000 note net excludes gains from discontinued operations of 386000 dlrs vs 903000 dlrs
morgan chief executive christopher reeves head of corporate finance graham walsh and senior corporate finance director roger seelig all resigned in january over the guinness affair
it has an average life of 711 years and matures 2018
inspiration said the project has proven reserves of 538000 tons assayed at 0212 ounce of gold per ton probable reserves of 686000 tons at 0166 ounce and possible reserves of 355000 tons at 0183 ounce
dutch insurer aegon nv aegnas reported a 64 pct increase in 1986 net profits to 3271 mln guilders and said it expected a moderate increase in profits for 1987
however several arbitragers said they would shy away from the stock at its current price levels since it is unclear how high bidding for the company would go and whether the company would agree to a takeover
in addition the company said rising product prices and demand for pulp and paper are reflected in all the major world markets except in the case of some light weighted paper grades where overcapacity remains a problem
the second blizzard to hit istanbul in a week stopped yesterday afternoon and the international airport reopened today after a two day closure
rep
joe gold corp said it plans to proceed with development of its golden patricia gold property in northwestern ontario
amvestors financial avfc sets stock dividend
he noted that one long dated citicorp issue paper which has suffered recently on fears over latin american debt exposure slipped by two points to around 9400
warehouse club inc said it expects to take a one time charge of about five mln dlrs on its june 30 third quarter results from closing of two unprofitable chicago area units
local currency m3 rose 36 pct to 28036 billion dlrs from december when it was up 34 pct from november for a rise of 163 pct on the year
cotton cont 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 usage domestic 710 701 640 640 exports 666 676 196 196 total 1376 1377 836 836 end stocks 540 549 935 935 avge price 517 x 517 x 5650 5650 x 1986 87 price is weighted average for first five months of marketing year not a projection for 1986 87
he noted that certain countries have already been removed from the list
about 300 mln dlrs of debt and preferred were outstanding at december 31 1986
digicon inc said it has completed the previously announced disposition of its computer systems division to an investment group led by rotan mosle incs rotan mosle technology partners ltd affiliate
but robert hormats of goldman sachs and co said he was not worried by greenspans lack of international experience
the bundesbank was not obliged to react immediately whenever such overshooting occurs
the all items index base 1980 rose a monthly 12 pct to 2425 in april after increasing 11 pct to 2396 in march and standing at 2089 a year earlier
murakhovsky said the soviet union was prepared to talk with anybody with interesting proposals offering latest technology and assuring a mutual advantage he said the soviet union had many tasks ahead of it and would deal rapidly with proposals it considered interesting
edelman was unsuccessful last year in offers for lucky stores inc and fruehauf corp
however in its paper the bank suggested that any conditions applied for the first few auctions may be abandoned or modified in future sales of gilts if they prove inefficient or unwieldy
following announcement of the merger agreement the company was informed by the enforcement division of the sec that it intends to seek authority from the commission to institute a proceeding against the company allegheny said
the company also said its first quarter results are expected to include a provision for loan losses of 55 mln dlrs about 20 mln dlrs over net loan charge offs of about 35 mln dlrs
that topped the proposed merger of los angeles based security pacific corp spc and seattles rainier bancorpartion rban the west coast deal announced about four weeks ago is worth an estimated 12 billion dlrs
the banks loan loss provision for the first quarter ended january 31 rose to 223 mln dlrs from 187 mln dlrs in the year ago quarter
in a filing with the securities and exchange commission the group said it bought 49400 airlease units between july 16 andf october 15 at 1723 dlrs to 1760 dlrs a share
met coil systems corp mets 3rd qtr feb 28 net
foreign investors have been here nibbling a long time but were seeing new names and smaller companies coming in said arthur smith an oil property appraisal specialist and president of john s
gencorp gy stays on s p creditwatch negative
yellow freight yell sees lower 1st qtr net
we can say that we are achieving the recuperation of credit but that cannot be done overnight azpurua said in a television interview
under manilas plan the pins would be redeemable at full face value in philippine pesos to fund local equity investments at any time prior to their six year maturity date
i think theyll be on a very solid base when they make the decision to launch the reforms
hemsley said the seaway authority plans to raise tolls on the welland canal by eight pct this year compared to last years 15 pct rise while maintaining a freeze on tolls throughout the rest of the waterway
yesterday the federal department of energy charged gulf canada with eight counts of illegal dumping for discharging powdered cement and drilling mud between september 23 and 30 last year
sandvik diamant boart finalise drills merger
money market rates recovered up to 1 4 point from earlier lows while both sterling and gilts came off highs as trading ground to a near halt
conable did not spell out what further changes he would like to see
energy secretary donald hodel said he expects oil prices to rise significantly by the year 2000 probably to around 33 dlrs a barrel in current dollars
at current market prices domes stake in encor would be valued at about 308 mln dlrs while its 209 mln dome mines shares would be worth about 319 mln dlrs
iadb meeting ends with us isolated on reform
co lead managers are new japan securities wako securities and yasuda trust
the par priced public issue will be redeemed in full at 48780 dlrs per 1000 guilder bond on april 15 1994
continuation of an underground program on the property will begin in june extending an existing drift along the 200 foot level where the main ore zone was encountered giant bay said
the company said the new agreement would have no impact on its current supplier base and it will continue to work with as braod base of suppliers of junior sportswear as it does in its other merchandise areas
kay called reports that such an offer was imminent premature the reagan administrations cabinet level economic policy council is set to meet today to discuss among other matters agricultural policy but is not expected to address a wheat subsidy offer to the soviet union administration officials said earlier
midland mla sets stock split
the central banker said resolving the debt crisis would be a struggle since taking over the speakership at the start of the year wright has shown himself an able political adversary of the administration on budget strategy
may 750 south down 11
no one would benefit if after years of over valuation the us dollar fell into the other extreme that is strong under valuation he said
however approval this year is in doubt because passage of a major trade bill without specific protections for textiles showed a weakening of support for the legislation
pioneer sugar says csr takeover offer too low
it said the eberstadt venture capital funds and the citicorp accounts will receive warrants to buy 1666667 common shares at 60 cts each and two representatives of the funds will be named to the genex board
uniforce temporary unfr sets split
waste management wmx seeks suits dismissal
hongkong and shanghai banking corp and standard chartered bank raised their prime rate one half point to 65 pct effective tuesday the association of banks said
in this respect an easing of protectionist barriers was imperative he said
it quoted mobil president richard tucker currently in peking as saying he is optimistic about investment prospects in china and that peking will continue to encourage foreign private businesses to invest here
us housing starts rose 26 pct in february to a seasonally adjusted annual rate of 1851000 units the commerce department said
we feel we will continue to see higher growth in the quarter james treybig president and and chief executive officer told a meeting of securities analysts
the real problem is the freeing of interest rates the banker said
it said sorghum acreage in 1987 is six pct lower than in 1986
gold holdings at end february totalled 35203 billion lire unchanged on january
first american bank and trust co said its 88 pct owned associated mortgage investors amims subsidiary has sold its new england operations for about 2100000 dlrs in cash and 1300000 dlrs in stock resulting in a first quarter gain for first american of about 1200000 dlrs after tax
taiwan proposes further tariff cuts
bank of japan governor satoshi sumita said that current exchange rates are almost within the levels agreed to by six major nations last month in paris
redlake corp 2nd qtr sept 30 net
lamson and sessions co lms 3rd qtr net
brazils refusal to accept an imf program a condition set by many banks for new lending meanwhile reflects the view of most latin american governments that equate the fund with recession
bank of japan to sell 500 billion yen in bills
cattle slaughter is guesstimated at about 124000 to 128000 head versus 129000 week ago and 134000 a year ago
shr loss 78 cts vs loss 18 cts net loss 1671000 vs loss 382000 revs 3261000 vs 4427000 year shr loss 135 dlr vs loss 15 cts net loss 2902000 vs loss 331000 revs 135 mln vs 161 mln note 1986 and 1985 4th qtr net includes charges of 867000 dlrs or 40 cts a share and 222000 or 10 cts a share respectively
frn market slumps fixed rate eurobond trade quiet
the unilever spokesman declined to say how much the group expected to receive for stauffer
bhp acquired utah from general electric co ge in 1984
we perceive the current scandals as a warning of even worse things to come markey said
us leading index fell 10 pct in january
oper shr 29 cts vs 22 cts oper net 39 mln vs 18 mln year oper shr 63 cts vs four cts oper net 101 mln vs 855000 note excludes gain one ct per share vs loss two cts in the quarter and gain 41 cts per share vs gain six cts in the year from investments
powell who said he has already spent 609831 dlrs on his qed stock said he plans to buy more shares as long as he considers them to be undervalued
sosnoff said he will be meeting this week with gaming officials in nevada in an effort to expedite the investigatory process required for regulatory approval a process that it already underway in new jersey
wheat sales of 362400 tonnes for the current season and 151000 for the 1987 88 season were down by more than half from the previous weeks combined sales it said
shultz said he did not know to what extent the stock selling frenzy reflected concerns about us trade and budget deficits
shr 23 cts vs seven cts net 911000 vs 293000 sales 881 mln vs 748 mln
placer pacific hopes for misima gold approval soon
tokyo to issue 100 mln dlr bond in new york
these shares carry one one hundredth the voting power of the class b shares
our representatives have gone to washington to the international monetary fund the world bank the fed federal reserve board and the us treasury to brief them in advance on this alternative and it has generally been positively received we dont believe that there is going to be a problem on the accounting side ongpin said
oper shr loss 26 cts vs profit five cts oper net loss 1506000 vs profit 312000 revs 42 mln vs 279 mln year oper shr loss 43 cts vs profit 16 cts oper net loss 2535000 vs profit 1236000 revs 1299 mln vs 1203 mln note excludes discontinued operations loss 142 dlrs a share versus loss nine cts in the quarter and loss 162 dlrs a share versus loss 12 cts in the year
foreign oil companies will spend less on exploration in indonesia this year than last budgeting 27 billion dlrs for calendar 1987 against 1986 spending of 28 billion dlrs the state oil company pertamina said
it appears reasonable progress is being made in the talks mulroney said
german federal railways stock 900 mln marks 10 years at 6 1 4 pct and par bundesbank
most dealers said they doubted the us federal reserve would intervene on its own account to support the dollar but some said this might occur if the dollar fell much below 148 yen
in economic terms reform would be a plus said christopher chew of brokerage firm james capel and co
the exchange said there were nil bags pending classification
it said the two firms will use the money to construct the olympic hotel with 14 storeys and 380 rooms near pekings largest indoor stadium to cater for participants at international competitions and tourists
total fees of two pct comprise 1 4 pct for management 3 8 pct for underwriting and 1 3 8 pct for selling
alberta energy co ltd said it filed a preliminary prospectus for an issue of convertible debentures which may total 100 mln dlrs depending on market conditions
analyst hine said the gelco and purolator canadian units will likely retain operating links with their us delivery network generating traffic for the former parent companies without them having to tie up capital in canada
bankers said the central bank governors would meet soon to discuss the issue adding there was a possibility that a new system could be submitted for final approval to a gcc summit conference scheduled to be held in saudi arabia late this year
bfgs 1986 accounts were included in a prospectus for ambs capital increase which is to finance the insurance companys acquisition of 50 pct plus one share of bfg
in many cases prices are still lower than those attained in 1984 it said
it added that the notes are due march 20 1990
next week 100 mln stg of treasury bills will be offered replacing 100 mln stg of maturities
it said the debt was part of a 3390 billion franc liability incurred through the activation of emcf swap facilities to defend the franc before the january 11 european monetary system realignment
boliden takes over allis chalmers division
union texas oil reserves dropped in 1986
newspapers in manila and hong kong reported at the weekend that an offer had been made
gm gm stock buyback wont affect s p ratings
first marathon fmsato plans stock split
canada dlr driven by foreign buyers wilson
norstar shareholders to get 12 fleet financial shrs per norstar share in merger
japans trade surplus is likely to continue to grow in 1987 as sales of japanese goods abroad increase while domestic demand remains sluggish the organization for economic cooperation and development oecd said
german february central bank money growth steady
loans to finance hong kongs visible trade the mainstay of the local economy rose by 151 pct against a decline of five pct in 1985
info data to acquire usa outdoor advertising
smit is still preparing its final salvage plan and said the work would begin on sunday
the present agreement had a figure of 80 pct
philip crosby associates inc said its fourth quarter and annual earnings report will be delayed two more weeks
in january and february the airline said total systemwide revenue passenger miles were up five pct and 11 pct respectively over the same months last year
at the center of the controversy is bank president barber conable whose reorganization efforts are getting some critical review from many bank staff members and some member countries including the united states
most us producers have fallen behind other foreign producers in the use of modern textile and apparel production equipment and net imports are growing faster than the domestic markets kelly said
emergency action to distribute european community ec food surpluses to the poor has proved so successful that the ec executive commission may propose a permanent scheme a commission spokesman said
it had operating profits of about 33 mln dlrs in 1986
ussr wheat bonus rumors persist despite denials
us house speaker wright concerned of interest rate rise under greenspan
cheyenne said the purchase price would be paid in common stock and it would provide additional finances for the operation of fa
the price quoted for the first time yesterday was introduced as the lack of tin quotes was causing problems for some french companies a spokesman for the non ferrous metals association said
it estimated the 1985 86 crop at 1706 mln tonnes vs 1714 mln last month
mobil mob raises west coast crude postings
he said the canadian and israeli pacts will not set back worldwide reform efforts under the general agreement on tariffs and trade gatt as some critics feared but help them
nippon mining lowers copper price
full name is consolidated captial income opportunity trust 2
today has been irrational irresponsible possibly the worst day in what has been a dire six months for the floater market commented a senior frn trader at a uk bank
canadas wilson seeks temporary borrowing
bankers said they would relay the brazilian request for an extension but declined to say whether they were specifically endorsing it
he said this may conflict with bundesbank aims to move more funds from relatively short term deposits to longer dated securities to reduce strong growth in its central bank money supply aggregate
jonathan nelson managing director of narragansett capital corp narr which is participating in the buyout plan declined to say if buyers have already been lined up for the entertainment group
it said the conversion will also reduce its annualized net interest expense by about 11 mln dlrs or 600000 dlrs after taxes
crystal oil co cor 4th qtr loss
as crude production also fell there is likely to have also been a decline in non reported stocks particularly at sea the iea said
pinola called his decision last month to withdraw his 325 billion dlr bid at the nations second largest bank a very very difficult decision with that decision made however he acknowledged first interstate may now have a difficult time keeping its number four position in the california banking community
but it warned that the key to an improvement in the economy was higher domestic demand which is only forecast to rise by 25 pct this year and 275 pct in 1988 below 1986s 37 pct
use 32141 32187 31758 31746 exports 1211 1222 1249 1239 end stocks 2119 2178 2471 2475
in 1986 the economy grew by an actual 31 pct
dutch prices and trade volume reached their highest level this year
sikes corp ska 1st qtr may 31 net
people ridesharing systems ride 1st qtr net
if the tests had shown abnormal readings they would have been resumed
the company also said that effective today it will be trading on the nasdaq system under the symbol vlans
moran himself withdrew from the takeover effort and last reported his personal stake at 48 pct
amour inc said it has entered into a letter of intent to acquire bard international associates inc for 70 mln common shares in a transaction that would give former bard shareholders control of the combined company
that money will be available until april 1988 if mexicos export receipts and the price of oil fall below certain levels
lawson said the two recent cuts in base rates both made this month in the form of half percentage point declines were perfectly consistent with monetary conditions now in britain
ecuador signs 280 mln dlr iadb loan
gen term corp said it entered into escrow for the 52 mln dlr purchase of lewis westco and co a privately held bottler and distributor of wines and distilled spirits
first boston corp fbc was up one to 51 1 4
but the committee noted that capacity utilisation had in recent years been above that of the european refining industry on average
carson pirie crn to start proxy mailing
venezuelas biggest private company la electricidad de caracas will meet with bank creditors in new york on monday to discuss the danger of a default on its 622 mln dlr foreign debt a company spokesman said
what will come out of it remains for the negotiators in the first instance to propose and then governments and congresses will have judge he said
philippines sees 1987 government revenue up 26 pct
south african year on year consumer price inflation rose slightly to 163 pct in february after falling sharply to 161 pct in january from 181 pct in december central statistics office figures show
redstone really wants to own the company one said
six months net includes gain from discontinued operations of 104000 dlrs or three cts a share versus a loss of 588000 dlrs or 15 cts a share in the prior six months
as a result of the merger borg warner will become a wholly owned subsidiary of av holdings
uk money market gets 347 mln stg afternoon help
the institute said this in turn was bound to lead eventually to a rise in worldwide inflation and a shift in us policy towards a more restrictive policy
imports of soybean oil are estimated at 200000 tonnes also unchanged from last year
1986 per share figures not available as bank converted to stock form in august 1986
oilman has 87 pct of qed exploration qedx 
harcourt is asking the court to rule the company is not required to issue common to debenture holders who did not convert prior to june eight
procter pg appoints new agency for cookies
berisford plc
within the ems the mark is allowed to fluctuate against the guilder between 1101675 and 115235 guilders per 100
the borrowing limit of the hong kong exchange fund set up to regulate the value of the hong kong dollar has been raised to 50 billion hk dlrs from 30 billion by the legislature an official statement said
south korea has banned beef imports but there are indications seoul may bow to us pressure and allow some imports soon industry officials said
dutch seasonally adjusted unemployment totalled 690600 people in february unchanged from january but down from 732700 in february 1986 a social affairs ministry spokesman said
a us agriculture department official said 0 92 for all 1987 crops would save 300 to 400 mln dlrs and more than 15 billion dlrs over five years
malaysia sets 100 mln swiss franc notes issue
outboard marine corps top executives are making sales presentations to portfolio managers and analysts ahead of a planned two mln share offering expected soon company officials said
borrowers from the system own some four billion dlrs in stock that could be jeopardized by the mounting losses of the farm credit system
the firm would have made a small profit in 1985 had it not been for 456 mln schillings lost by subsidiary merx handelsgesmbh on oil trading
smoothed but non seasonally adjusted figures show a merchandise trade surplus of 114 mln dlrs against 81 mln in january and a 47 mln dlr deficit in february 1986
meese told the house appropriations subcommittee that consideration would be part of the justice departments review of the proposed merger
pressure to cut production of 256 kilobit dram dynamic random access memory chips could merely speed the transition to one megabit chips where japan now leads analysts said
oil prices would skyrocket for a time if conflict in the gulf closed the strait of hormuz but oil supplies could be adjusted to take care of world demand indonesian energy minister subroto said
the plan outlined by us treasury secretary james baker 18 months ago stalled because commercial banks balked at the idea of lending additional money ongpin said
don gevirtz chairman of the foothill group inc told the companys first quarter results will be up sharply over last years eight cents a share
the bank said the estimate could rise to between 130 dlrs and 180 dlrs a share if the full pension surplus is obtained
china has closed the second round of bidding by foreign firms for offshore oil exploration rights the china daily has reported
merrill lynch said it expects to announce the final proration factor within 10 business days and begin payment immediately thereafter
combined internmational pma sees strong 1987
azpurua said that among the details still to be finalised were the exact timetable for reprogrammed payments and the outlines of a government plan to allow public and private sector debt capitalisation
consumer prices were on average three pct higher than in february 1986 the office said
if an opportunity arises for us to strengthen our capital position quickly we would be very open to it the spokeswoman said
walgreen co wag votes quarterly dividend
feb one end oper shr 89 cts vs 131 dlrs oper net 3348000 vs 4885000 sales 1268 mln vs 1201 mln year oper shr 167 dlrs vs 215 dlrs oper net 6302000 vs 8013000 sales 3809 mln vs 3521 mln note prior year net both periods excludes gain 1998000 dlrs from reversion of overfunded pension plans
capital costs would be 223 mln dlrs with all new equipment and 500000 to one mln dlrs less with used equipment the firm said
exxon xon gains due to streamlined operations
petrol station owners said many garages had closed indefinitely today in sao paulo parana mato grosso and mato grosso do sul
smith and nephew issues convertible eurobond
the loan may be drawn down until april 1988 but only if mexico experiences a shortfall in public sector external receipts and provided that mexico first qualifies for drawings under a 600 mln sdr oil contigency facility from the international monetary fund
tokyo already faces a deadline of april 17 from washington for the imposition of 300 mln dlrs worth of tariffs on chips it imports into the us the ec executive commission said today the european electrical component manufacturers association complained that japanese firms were selling high capacity eprom type erasable programmable read only memory chips at unfairly low prices
a cash alternative of 29055p will be made available
standard and poors said that in return for its two billion dlr investment chrysler would be receiving a business with questionable prospects
we dont want to take retaliatory action here if we dont have to yeutter said
the statement added that the threat to free and safe navigation had increased after the missile attack on a us flagged tanker in kuwaiti territorial waters last friday
the office said final figures for march will be released in about 10 days
gelco corp of minnesota decided to sell gelco express ltd as part of its previously announced program to sell off four operating units to buy back shares and pay down debt gelco express marketing vice president james oneil told 
he believed that prompt restraints might avert the need for more substantial tightening later
it is because of possible optimism that the government will intervene if necessary one dealer told 
the february rise brought the increase in consumer prices since the introduction of the anti inflation cruzado plan a year ago to 625 pct
texaco inc said it raised the contract price it will pay for most grades of crude oil by 50 cts a barrel effective october 16
one month interbank riyal deposits were quoted today at 6 1 4 six pct
in the 1985 86 financial year pre tax profit rose to 181 billion stg from 148 billion in the previous period
mannesmann sees difficult year for capital goods
the transport ministry estimates new orders at 33 mln cgrt in the year to march 1988 and 31 mln the following year
japans january seasonally adjusted industrial production index base 1980 was revised upwards to 1223 from a preliminary 1220 the ministry of international trade and industry said
miyazawa would not say what specific measures major nations would take but told reporters the measures had been discussed in paris
gaf gaf plans no changes if offer accepted
the debentures are convertible into the companys common stock at 2784 dlrs per share representing a premium of 28 pct over the stock price when terms on the debt were set
they can do it for a day in terms of intervention an hour a week maybe but not over a period of time
rowe furniture corp rowe sets qtly dividend
hong kong firm ups calmat czm stake to 98 pct
analysts are estimating united technologies will earn 375 dlrs to 450 dlrs a share in 1987
he said malaysia agreed to the oil for bridges deal in october after india said it could no longer buy some 700000 tonnes of palm oil a year because of its trade deficit
the company said the dividend is payable may 18 to holders of record may 4 and the split is subject to approval by shareholders at the may 20 annual meeting
rockefeller said the recent tour by brazilian finance minister dilson funaro of major industrial nations was a sign that brazil wanted to be cooperative
uk money market given 53 mln stg assistance
michael armacost under secretary of state for political affairs was asked at a press conference whether japans moves to boost its domestic economy and open its markets could persuade the us not to impose tariffs on japanese imports said and replied it is probably too early for the figures to demonstrate that the situation has turned around and to permit the result you have described armacost said the us hopes japan will take steps to lift its domestic economy and reduce dependence on exports remove barriers to imports and settle outstanding trade issues
the french corn growers could now charge that us farm programs create an unfair subsidy for corn gluten feed hall said
such a delay would not bode well for proponents of an expanded 0 92 program since spring planting in many areas of the country will be underway in the next few weeks and signup for the 1987 wheat and feedgrains program ends march 30
the stock of mcdonalds corp rose sharply this morning after analyst daniel lee of drexel burnham lambert inc reiterated his recommendation of the stock traders said
it said drilling has indicated substantial sulphide reserves with a gold grade of about 01 ounce a ton and early tests show the gold ore responds to bioleaching
he will continue to serve as a director it added
nicolls said he expected the dollar to go as high as 06875 and perhaps to 69 cents tomorrow
until the competitive ability of industry improved the authorities would have little scope for macroeconomic manoeuvre even if the unemployment situation or the need to encourage a pickup in investment could require demand to grow more briskly it added
marcano said venezuela which has reduced its debt by six billion dlrs since 1983 should have no problems in repaying restructured debt this year or next
this drain was offset in part by new currency swaps which had the effect of increasing the national banks foreign exchange holdings
this also confirmed provisional figures issued in february
options can only be written on the original 14 bonds selected when bond options were introduced last april
brazilian president jose sarney announced a move which temporarily legalises the purchase of us dollar currency in the parallel market aimed at promoting imports of foreign goods
it rose four cents against the us dollar on saturday to close at 3459
production of alumina at the refinery is currently running at around 3000 tonnes a day and is expected to get back to full capacity of 4000 tonnes within a week the billiton spokesman added
it makes sense that we divide the business session from the trade show sweet said
hughes ht changes stance on merger after suit
centronics corp cen year loss
in a wide ranging address sponsored by the export import bank ortner the banks senior economist also said he believed that the yen was undervalued and could go up by 10 or 15 pct
murphy oil said it proposing to acquire remaining 23 pct of canadian subsidiary
campbell red lake crk sets quarterly dividend
unless we get the budget deficit down we will not get the trade deficit down he did not elaborate on his views of the linkages between the two deficits
money market analysts said the positive trade news touched off a modest rally in the canadian dollar which rose to 7685 us cts on north american markets early this morning after closing at 7658 cts wednesday
as previously reported borg warner corp which owns 65 pct of bwas ordinary shares and 100 pct of the preferences advised a month ago that it would not accept the offer
shr 98 cts vs 63 cts net 2602000 vs 1571000 assets 115 billion vs 102 billion deposits 104 billion vs 9421 mln loans 8348 mln vs 7290 mln return on avg assets 092 pct vs 063 pct
howard has accused japan of trying to shut out cable and wireless from having a major role in the international telephone market in japan
bankers leaving the meeting with gros declined to discuss details of the talks though some expressed satisfaction that brazil had agreed to continue working with the committee
todays relatively stable oil prices of about 18 dlrs a barrel are not enough to spur a return to the heady days of 1981 when the us drilling rig count soared to a record high of more than 4500 and oilfield roustabouts commanded premium wages
selling shareholders may earn an additional amount up to a maximum of eight mln dlrs payable in cash based on the future performance of the companies acquired during the three years ending march 31 1990 international said
it may buy the wheat valued at 220 mln dlrs between april 15 and august 31 1987 and ship it from us ports by september 30 the department said
american savings bank fsb abnyo 3rd qtr net
theres always movement up and down and the basic fact is that we believe the economy is strong and growing and there will always be fluctuations in the interest rate but the economy is sound and in good shape spokesman marlin fitzwater said
pittway corp pry 4th qtr net
fourth quarter loss 895000 dlrs
die welt said the interview with bangemann had taken place at a meeting of his free democratic party fdp in darmstadt last friday adding that it had a tape recording of his comments which it would publish tomorrow
golden poultry co inc said it has signed a letter of intent to purchase privately held food distributor don lowe foods inc of pompano beach fla for undisclosed terms subject to approval by both boards
currently at least one trader in this transaction called an exchange for physical or efp must hold a futures position before entering into the transaction
local m1 rose 123 pct to 5797 billion dlrs after a 62 pct rise
merrill mandated for iel us note
the issue is guaranteed by gillette co and is available in denominations of 1000 and 5000 stg
the company explained that underwriters exercised in full their option to increase tohe offering by buying an additional 4950000 shares over and above the 33 mln brought to market yesterday
1985 net loss includes a charge of about 23 mln dlrs from settlement of class action lawsuit
british gas plc brgsl said it repaid 750 mln stg debt to the government the first tranche of 25 billion stg unsecured debentures issued as part of the process of privatisation last year
dry weather covered winter grain areas in western and central algeria but soil moisture was likely adequate to meet crop demands it said
the conference therefore decided to reinstate the group of five heads of delegation established by the 77th extraordinary meeting of the conference in april 1986 to undertake the necessary contacts with those countries
gillette gs gets offer from revlon rev 
mangood corp mab year oper loss
japan unemploymnent rises to record in january
blocker energy corp blk year net
santos alvite who arrived in caracas last night to discuss an aid plan for ecuador did not say when the organisation of petroleum exporting countries opec would be approached
of this central government debt sales to the public sector were expansionary by 400 mln stg after a 13 billion expansion in january the bank said
in 1983 walter haefner a swiss financier and a major wyly investor lured gregory j
utilities output rose 07 pct in february after gaining 12 pct in january but roach said it shows mostly that more energy was produced not that manufacturing activity gained
chilis chli files for convertible debentures
reagan calls for vigilance on certain exports
ford f nears gm gm in executive bonuses
frolov said the soviet union exported 500 mln dlrs worth of goods to the united states in 1986 and imported 15 billion dlrs worth
i think it is round about right he said
meese sees a plus in chrysler amc merger
consolidated natural cng forms trading unit
yugoslav retail prices up 70 pct in march
todays announcement that catholic relief services caritas can import 730 jamaican pigs comes after months of protests by farmers who had owned 90 pct of the slaughtered pigs
bank of france sells 845 billion franc tap stocks
net loss 14144000 vs loss 863000 revs 103 mln vs 167 mln notes 1986 loss includes write down of 151 mln dlrs in the carrying value of oil and gas properties taken in the first quarter cash flow from operationswas 6237000 dlrs or 301 dlrs per unit vs 9315000 dlrs or 456 dlrs per unit
we urged the congress to go on record through a resolution stating its commitment to protect the stock beesley said
if foreign exchange rates were constant foreign sales would have decreased 10 pct and total sales 04 pct the company said
cbs inc cbsn is issuing 400 mln dlrs of convertible debt due april 7 2002 with a coupon of five pct and priced at par said morgan stanley ltd as lead manager
citadel holding corp said it has settled its litigation with great western financial corp
1985 86 season at 915 vs 915 last month
traders said this means the export registration price will change more often in a truer reflection of market trends
clearwater fine foods acquires channel foods
but he called that a small amount compared to the amount other investors have for acquisitions
lieutenant general vernon walters sent letters about the incident to security council president maurizio bucci the delegate of italy and secretary general javier perez de cuellar
the company said it has about 215 mln shares outstanding
federated said the dividend is payable on a pre split basis on april 24 to shareholders of record april 10
standard and poors said its downgrade of chemical also reflected that holding companys acquisition of texas commerce bancshares tcb which was just now approved by the federal reserve
many major nations yesterday intervened heavily to aid dlr miyazawa
we are deliberately defending the price so opec production is less than 158 mln at the moment he stated
china trying to increase cotton output paper says
comb co said it acquired for 87 mln dlrs the principal assets of national tech industries inc and telkon corp
the intervention took place when the dollar fell to 14320 yen one dealer said
wurlitzer foundation told the securities and exchange commission it cut its stake in wurlitzer co to 89000 shares or 498 pct of the total outstanding common stock from 125000 shares or 70 pct
mthly div 71 cts vs 71 cts prior pay april 30 reord april 15 note franklin puerto rico tax free income fund
bundesbank allocates 65 billion marks in tender
louvre accord still in effect japan official says
anglo american gold investment co ltd aagiy 
the selling concession is 1 1 2 pct while management and underwriting combined pays one pct
there are already signs of change
lieberman distributes prerecorded music video movies and other products
this should keep substantial pressure on exporters to undertake sales despite the drop in prices she said
mitek systems expects loss in current quarter
bank debt had been cut by about one third to 256 billion francs against the end 1985 level of 385 billion
all three tranches bear an 11 pct coupon with average issue price of 101 1 8 and average fees of 1 1 2 pct payment date may 14 1987
they said that due to the dispute between the commission and producers over the issue it is not clear whether the commission will authorise any exports at all or grant licences on a large tonnage
this lowered the companys debt to capitalization ratio from 45 pct at the end of 1985 to 35 pct it said
the following proposed securities offerings were filed recently with the securities and exchange commission columbus and southern ohio electric co subsidiary of american electric power co inc aep offering of 100 mln dlrs of first mortgage bonds due 2017
publishers equipment pecn trentonian in deal
latin american officials say that while the debt should be negotiated case by case their governments are promoting a general framework for talks based on growth and development priorities lower interest payments and new financing
they also helped a major improvement in the trade balance
french controlled schlumberger said yesterday it was ending the agreement because mounting political controversy in the us made it unlikely that the sale of the fairchild stake could be completed in a reasonable time
dow chemical co said it will issue 200 mln swiss franc denominated bonds worth about 130 mln dlrs us at current exchange rates
that is 935 basis points above the yield of comparable treasury securities
bank building said the joint offer is for 780300 shares of bank building stock at 14 dlrs a share
robert white canadas deputy chief of delegation replied the law was in line with gatt rules and was for conservations reasons
christian of the us league of savings institutions said underlying housing demand remains strong
geplacea officials say this is the main cause of low prices
a treasury spokesman commenting on the reserves figures said that the government does not want sterling either to rise too far or to fall substantially from current levels
allied signal ald completes unit sale
united asset management corp uam ups payout
the french authorities reaffirm their attachment to the freedom and security of navigation and to the right of all states to take action under international law and the united nations charter to halt attacks such as that of october 16 the foreign ministry spokesman said in a statement
citroen expects higher profits helped by ax
dauster said brazils role when the ico meets in london in september will be to support the world coffee pact defend its market share and argue for distribution of quotas to be in the hands of producer countries
terms were not disclosed
the team will lay the groundwork for high level emergency talks next week aimed at defusing an increasingly bitter row over trade in computer microchips officials said
the chrysler spokeswoman said we are still working toward a definitive agreement said another chrysler official who is not part of the talks but who would be told if the deal were in trouble there are no glitches analysts also downplayed the significance of the delay
conflicting economic indicators from the us have also been dampening market activity he added
we hope that the dispute on this specific issue wont have an adverse effect on our overall relationship with the united states a ministry of international trade and industry miti official said
indonesian sugar output is forecast by the government to reach 2126 mln tonnes in calendar 1987 against projected consumption of 2039 mln tonnes agriculture minister achmad affandi said
there will be a multi currency option
in a filing with the securities and exchange commission bilzerian and bicoastal financial corp a tampa fla investment firm he controls said they bought 278000 shares of pay n pak common stock on march 26 and 27 at prices ranging from 1329 to 1704 dlrs a share
payments for the federal railways bond are also likely to burden the market
westpac banking issues 50 mln australian dlr bond
china has signed a 130 mln dlr loan agreement with the world bank to partly finance 12 new berths with an annual capacity of 628 mln tonnes at the 20 mln tonne a year capacity tianjin port the new china news agency said
amstutz said it is the us judgment that the long term grain agreement between the two countries calls for moscow to buy at least four mln tonnes each of wheat and corn annually at prices in effect in this country amstutz made the comments in response to a question from sen
it has expanded overseas entered the lucrative securities business and geared up for domestic competition but they questioned the wisdom of some of those moves
anchor financial corp 1st qtr net
the us trade gap with taiwan rose to 157 billion dlrs in 1986 from 131 billion in 1985 while the bilateral trade deficit with south korea grew to 71 billion from 48 billion
they told the housing program loan request is for 100 mln to 150 mln dlrs
the company last paid 50 cts per share in january 1986 and before that paid 60 cts in january 1985
over the next few weeks i think youll see a concerted effort by the saudis to get production down wellemeyer said
us house panel approves aid for fslic
the company said the purchase price is subject to adjustment and the entire transaction is subject to approval by the us bankruptcy court for the central district of california
in fiscal 1986 conagra had net income of 1053 mln dlrs on sales of 59 billion dlrs
statoil seeks share in thai gas field
paychex inc payx 3rd qtr feb 28 net
several companies say they are willing to start trading yates told in an interview
s and p cited expectations of continued profit pressure for this maker of minicomputer products
the us put a deadline on the talks of october 1 but both sides have said an agreement is likely despite tough bargaining remained
olivetti spa
ecuador which has foreign debt of roughly eight billion dlrs has not paid any interest to foreign banks since february
coupon and price of the bond issue as well as the exercise price of the warrants will be announced april 27 after the close of the amsterdam stock exchange
we are still concerned about s and w berisford being long term owners of british sugar a spokesman said
gov
greyhound announced june 19 that it wanted the icc to let it begin operating trailways immediately while continuing to evaluate the merger for possible antitrust problems
he said smc and ucpb would meet later this week to try to resolve disputes over the pricing of the shares
in addition to term sales petronas has been offering two to three 400000 bbl spot cargoes of malaysian crude each month for sale through tender the sources said
the deficit with newly industrialized far east countries including hong kong south korea singapore and taiwan fell 500 mln dlrs to eight billion dlrs and with canada the deficit decreased 200 mln dlrs to 33 billion dlrs in the quarter
instead it appointed a committee of independent directors to study strategic alternatives for the 170 year old firm
the year end results include an 80 mln dlrs provision for future legal and or settlement costs to cover the civil and criminal settlements announced today
there was no immediate confirmation of the attacks from gulf shipping sources
ubs unit issues 15 billion yen eurobond
catenas increase in sales was mainly due to the takeover of safveans ab in february 1986 which changed the business profile of catena
irwin magnetic systems inc irwn 1st qtr net
asamera asm completes refinery sale
shr loss 11 cts vs profit five cts net loss 279726 vs profit 76591 revs 1300000 vs 2200000
this bings the total amount that must be charged against earnings to 2326 mln dlrs after taxes southern said
former townsend thoresen navigating officer clive langley said the roro type of vessels were similar in some respects to a barge
among the main factors affecting liquidity bills maturing in official hands and the take up of treasury bills will drain some 111 billion stg while a rise in note circulation and bankers balances below target will take out around 120 mln stg and 20 mln stg respectively
the company had received a qualified opinion on 1985 financial statements subject to its ability to resolve negotiations with its us bank group
with the economy recovering strongly the steep drop in stock prices is not likely to put a major dent in consumer and business confidence one government economist said
ongpin said the restructuring of commercial bank debt as well as of 870 mln dlrs of debt by the paris club of western creditor governments in january was expected to reduce the countrys debt service ratio to between 25 and 30 pct from its current level of 40 to 45 pct
but analysts cautioned that although japanese producers can cut output boosting imports the key to us withdrawal of the sanctions is more difficult
the previous record low was 14470 yen set on march 30
in addition it said koba electronics co ltd an affiliate of nippon will buy four mln unissued shares or a 12 pct stake of lifetime for 20 mln dlrs or five dlrs a share
overall gms share of us car and truck sales should fall to around 38 or 39 pct in 1987 from 41 pct at the end of 1986 analysts said
conagra inc agreed to acquire monfort of colorado inc in a stock transaction both companies said
lears aerospace group revenues for fiscal 1987 are expected to be about 700 mln dlrs said forstmann
it said the overseas operations lost 400000 dlrs in the second quarter and did not appear strong enough to provide for future growth
the statement said bhpgm would also hold bhps 45 pct stake in the coronation hill property in the northern territory and its 55 pct stake in a new venture near gympie queensland
using reinforced cables salvage experts intend to raise the ship and set it down into a trench dug alongside
it also said it intends to seek additional interim rates
safety kleen sk to buy mckesson mck unit
shr 10 cts vs 29 cts net 584000 vs 1688000 sales 198 mln vs 169 mln avg shrs 5959000 vs 5762000 year shr 68 cts vs 96 cts net 4013000 vs 5430000 sales 681 mln vs 613 mln avg shrs 5934000 vs 5679000 backlog 679 mln vs 606 mln
wilson banks general manager of bond corp international ltd in hong kong told the atlas statement on the negotiations was reasonably accurate banks said bond corp was seriously considering several investments in the philippines but did not give details
durham said copper supplies are lower than they have been for almost 20 years and demand continued to be strong
fpl group inc fpl 3rd qtr net
investment bankers say the market currently stands at roughly 119 billion dlrs
green tree acceptance inc gnt sets dividend
the businesses assets were 6457 mln dlrs in 1986 the report said
that will be a company expense redstone said
it said a january survey put the total area under sugarcane at 545528 hectares down from 556860 hectares the previous year
total pre tax profits fell to 254 mln after 268 mln in 1985
blackburn said that we are in talks about coal operations but i cannot discuss this further at this time he said the company would have a debt to capital ratio of about 38 pct which could be paid down over time
poclain traded friday on the paris bourse at 3820 francs
exxon xon sees synfuels role by year 2000
private exporters reported sales of 125000 tonnes of us corn to the soviet union for delivery during the 1987 88 season and under the fifth year of the long term grain supply agreement
the revaluation formed part of a new go it alone economic strategy which kaunda adopted to replace zambias imf austerity program
the iagifu wells in the papuan basin have recorded the best oil flows in more than 60 years of exploration in png
shr loss 326 dlrs vs loss 275 dlrs net loss 3479744 vs 2939619 year shr loss 558 dlrs vs loss 220 dlrs net loss 5964454 vs loss 2341818 note net includes tax credits of 108798 dlrs vs 1445275 dlrs in quarter and 838690 dlrs vs 1124805 dlrs in year
the countrys trade deficit totalled 202 mln dlrs in 1986
rodney de mel said affected trees less than two years old would undergo base budding attaching a clone as close as possible to the trunks base and cutting off the top of the tree once the bud has taken
the banks first quarter provision for loan losses rose to 1720 mln dlrs from 1520 mln dlrs in the prior year
noel said proceeds will be used for additional working capital and expanding its factory in kingston jamaica
shamrock capital lp said it has completed the sale of cental soya co inc to ferruzzi agricola finanziaria the holding company for the ferruzzi group of ravenna italy
american said richard d
pesch or anybody else with respect to our holdings in republic health a mcdonnell douglas spokesman told
an independent finance company on the other hand must operate within more stringent guidelines than a unit and is at a competitive disadvantage s and p said
shr 81 cts vs 66 cts net 5011000 vs 2314000 revs 573 mln vs 176 mln note results include extraordinary gains of 1593000 dlrs or 26 cts a share in 1986 and 451000 dlrs or 13 cts a share in 1985
however because of a pledge the made last year to georgias public service commission the increased cost will not be included in the utilitys retail electric rates
both loans will be used for development the spokesman told 
today foreign exchange buying pushed the mark up 10 guilder cents to 112705 guilders per 100 at the fix a level that would not permit a change in the interest rate differential between west germany and the netherlands dealers said
its profit figures were stated before interest charges
benson was charged with demanding kickbacks from sales representatives who were asked to turn over a portion of their commisisons as a condition for doing business with empire
chiles 15 1 2 year rescheduling accord at one percentage point over london interbank offered rates libor and venezualas 21 billion dlr package at 7 8 point over libor portend well for the philippines despite brazils repayment suspension last week the officials said
m 1 money supply data for the march 9 week will also be released
rowntree reports pretax profit at 84 mln stg
diplomats expect the government to ask the world bank and other foreign donors to provide most of the foreign exchange portion
other economists said the fed would probably pay little attention to weak money supply growth
under the agreement the companies said continental will acquire general tire including its related domestic and foreign operations and gencorp will retain liability for the medical benefits of retired general tire employees who retired on or before november 30 1984
the rules could affect billions of dollars of eurobond securities issued each year
the white house economic policy council made a recommendation to president reagan whether to retaliate against japan for alleged unfair practices in semiconductor trade us officials said
madrid estimates that it needs to import 17 mln tonnes of maize this year while an ec us accord guarantees non ec producer sales to spain of two mln tonnes of maize and 300000 tonnes of sorghum annually for the next four years
he also said that to curb inflation salary increases would have to be below the inflation rate
under the new pact national said it granted signature a five year option to acquire two mln shares of its common for an option price equal to its current market value
commerce and planning minister mahbubul haq said in a televised speech it was also decided to allow duty free import of cotton yarn