the company said it is applying to list the preferred stock on the new york stock exchange
they had predicted earlier that crushers april shipment us bean purchases would drop to 260000 to 270000 from the monthly average of 300000 to 330000 tonnes due to low soybean meal prices
verac will operate in san diego as part of balls technical products group
todays cd buying operation was designed to seek an announcement effect in which we would reassure the market of the fact that we have not changed our policy stance a senior central bank official told 
the statistics office had originally put the january current account surplus at 49 billion marks
brazil last month suspended interest payments on its 68 billion us dlr foreign bank debt
cambridge recorded a profit of 2204 dlrs on revenues of 847000 dlrs for the first quarter of fiscal 1986 the company said
funaro will be explaining brazils actions to us treasury secretary james baker federal reserve board chairman paul volcker and international monetary fund managing director michel camdessus before travelling to europe at the weekend
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
azzam said gulf money markets had received greater depth from the introduction of treasury bill offerings in bahrain and the expansion of securities repurchase regulations in saudi arabia
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
earnings performance in the non manufacturing sector will be supported by firm demand in the real estate and construction businesses it said
the uk treasury issued to the bank of england 250 mln stg in two tranches of existing index linked stocks for first dealings on monday the bank said
it rose 36 pct in jan sept 1987
west texas cotton crop unscathed by storm
the capital investment required to produce the additional output would be around one billion us dlrs and the political climate may make it difficult to raise the money he said
the coniston group said it expects to make a further announcement today on its plans for allegis
shr loss 56 cts vs loss 71 cts net loss 809000 vs loss 10 mln revs 53 mln vs 53 mln year shr loss 151 dlrs vs profit 61 cts net loss 22 mln vs loss 23 mln revs 265 mln vs 291 mln
financial charges 34 mln vs 33 mln
subroto sees oil market continuing bullish
haq who is also planning minister was outlining a new three year trade policy from the start of financial 1987 88 on july 1
but others said that despite the rally today there were still several fundamental factors including demand which could cut the rally short
garn a utah republican said i am talking about specific retribution on a company that endangers the security of their own country and ours
private investor theodore cross last week offered 34 dlrs a share for harper and row prompting a rival bid of 50 dlrs a share from another publishing firm harcourt brace jovanovich inc hbj after considering the two offers at a meeting on friday the harper and row board decided not to act on them
it said it expected the oecd to post a current account deficit of some 13 billion dlrs in both 1987 and 1988 due in large part to a 150 dlrs a barrel rise in 1987 oil prices
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 is available in denominations of 1000 and 10000 australian dlrs and will be listed in luxembourg
qtly div 17 1 2 cts vs 17 1 4 cts pay april 15 record march 31 note full name federal paper board co
the cso said that at current prices gdp rose 127 pct to 82 billion zimbabwe dlrs but inflation measured by the gdp deflator was estimated at 122 pct so there was virtually no growth in real output during 1986
canadian money supply falls in week
oper shr 180 dlrs vs 146 dlrs oper net 250 mln vs 202 mln sales 109 billion vs 9964 mln avg shrs 139 mln vs 138 mln year oper shr 320 dlrs vs 257 dlrs oper net 444 mln vs 354 mln sales 387 billion vs 343 billion avg shrs 139 mln vs 138 mln notes operating net excludes losses of 121 mln dlrs or 87 cts a share vs 321000 dlrs or two cts a share in quarter and 60 mln dlrs or 43 cts a share vs 51 mln dlrs or 37 cts a share from discontinued operations
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
tokyo bank of japan buys small amount of dollars dealers said
american eagle petroleums ltd year loss
parent bank commission surplus in the securities business had risen almost 15 pct to 358 mln marks in 1986
top french banker sees china foreign debt very low
the highest corn plantings reported in the 60 years that usda has kept such records was in 1932 when farmers planted 113 mln acres and obtained average yields of 265 bushels per acre
the turkish central bank set a lira dollar rate for april 2 of 78000 78390 to the dollar down from the previous 77700 78089
analysts have said american medical has begun a turnaround by replacing some members of management and reducing costs
venezuela agreed last friday with its 13 bank advisory committee to lower the interest margin to 7 8 pct over libor from 1 1 8 and reduce amortisations in the next three years to 135 billion dlrs from 335 billion
deilmann ag
but it had great confidence in prospects for future growth
gtx located in phoenix makes computerized systems that read drawings and transfer them into data bases
rcm technologies inc rcmt 1st qtr jan 31 loss
the fawc says this would help reduce the spread of salmonella
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
the flotation plan has been interpreted by financial analysts as a means of helping finance the acquisition of the cpc business
the payment date april 9 1987
both redstones proposal and the management proposal would create a restructured company heavily leveraged with debt
qtly div nine cts vs nine cts pay may 21 record may 1
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
rr donnelly and sons co said it reached an agreement with adams russell co inc aar to sell adams its rockford ill cable system for an undisclosed price
in april reserves rose a hefty 29 billion stg
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
the new company will be directed by a six member board with three representatives each from pdvsa and union pacific
both sides in the imf debate say the course they favour will enable brazil to avoid recession
london based sugar operator kaines ltd confirmed it sold two cargoes of white sugar to india out of an estimated overall sales total of four or five cargoes in which other brokers participated
it added in a statement that parent net profit rose to 2882 mln marks in 1986 from 2217 mln the prior year
the company said 1986 results were seriously affected by lower oil and gas prices but did not reflect its recent acquisition of aberford resources ltd it said that while oil prices had improved in early 1987 it would remain cautious and base capital spending on conservative price assumptions
methode electronics inc metho 4th qtr net
this would leave a budget deficit before borrowing of about seven billion rand or four pct of gdp
france approves waterman acquisition by gillette
weve not seen any lessening of competition from those countries that we can attribute to currency changes said bethlehem steels wendt
in addition he said the company has been gradually adjusting its merchandise mix and its gross margins have been improving
west german first quarter cocoa grindings which rose 29 pct from the same 1986 quarter were within expectations trade sources said
this means that no open currency positions exist any longer on the amount of the provision that is made against an actual default he added
main ec desinations were netherlands 900000 600000 belgium 800000 one mln britain 700000 500000 west germany 400000 same italy 300000 200000 and greece 300000 zero
canada may consumer price index rises 06 pct statistics canada said
the vote was 1229 or 545 pct against and 1028 or 455 pct for the contract
china aluminium venture aims at south korea
schlumberger is an oilfield services company controlled by french interests and headquartered in new york
consolidated gold fields plc s arc america corp subsidiary said it has acquired 7521643 american aggregates corp shares about 95 pct of those outstanding as a result of its tender offer which expired february 27
the government and private interests will equally share the additional investment he said
the unions havent forgotten that and they will put this squarely onto the account in the negotiations he said
michigan general said the exchange offer is crucial to is attempt to restructure and reduce its risk from chapter 11
mcdowell me to merger with interpharm inc 
saudi arabian oil minister hisham nazer reiterated the kingdoms commitment to last decembers opec accord to boost world oil prices and stabilise the market the official saudi press agency spa said
ec sources say uk wheat plan yet to be approved
danforth said the corportation was focused in several key areas including defense electronics financial services broadcasting electrical products and services for construction and industrial and utility markets
while in the us earlier this month soviet agriculture official viktor nikonov predicted that the grain crop would be as good or better than last years 210 mln tonne harvest
ministry officials declined to say when they would give formal approval but said they were working on the issue
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
mcintyre did not specify the cash amount of the sale
istanbul remained at a virtual standstill today under snow up to a meter deep but shipping was moving through the narrow bosphorus waterway linking the sea of marmara and the black sea officials said
he made clear that he was not making a forecast on interest rates however
only three countries the us colombia and venezuela had offered assistance
japan should increase foreign access to its farm products market while encouraging further development of domestic agriculture a government report said
speaking at a house grains subcommittee hearing chairman dan glickman d kan proposed that congressmen and representatives of soybean growers meet with usda on the subject in the next two weeks
the agency said 2072 billion dlrs of the reserves was held by the state treasury down from 226 billion at end september while 8442 billion was held by the bank of china up from 811 billion
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
ivory coast weather no problem for 1986 87 crops
royal dutch shell group rdams unit shell australia ltd said its net profit fell to 4579 mln dlrs in 1986 from 6676 mln in 1985
investment in new activities in 1987 should continue at a relatively high level to exploit opportunities for growth
glatfelter a printing and writing paper maker said ecusta operates an uncoded three sheet and light weight specialty paper mill in pisgah forest nc the mill produces and converts paper products used by the doemstic and foreign tobacco industry
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
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
we plan to develop the properties with short term high cash flow prospects he said
have resigned and myers and morgan were named to the board
wyse wyseo to get link technologies
but he also said the us must reduce the list of products of a nontechnological nature thereby allowing manufacturers to increase exports and jobs
the surviving company will be controlled by dunhills principals total capital said
gecc issues 75 mln australian dlr eurobond
tokheim corp manufacturer of electronic petroleum marketing systems said it expects shipments of tokheim convenience systems tcs its new family of dispensers to improve its sales trend throughout 1987
first quarter performance for the rest of time inc will be better than last year bigelow said
rogers corp said its board approved a shareholder rights plan designed to protect its shareholders in the event of an attempted hostile takeover
in trading earlier today traders said prices of several dated frns had firmed slightly and that some buyers were beginning to re enter the market
cenergy crg reports 4th qtr net profit
brodersohn who is negotiating currently with foreign banks for a 215 billion dlr loan for 1987 says argentina will have to grow at a four pct annual rate between now and 1992 simply to restore per capita income to the level of 1975
this year began well with the performance in january and february at least equal to the same period last year the official said
lange predicts nz inflation to fall to 8 10 pct
tvx and salomon also advised taft they hope to be able to close in near future the company said adding it is prepared to close at any time
ted bates is now owned by saatchi and saatchi the worlds largest advertising agency
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
hapag orders new container ship from china
the corn is for delivery during the 1986 87 marketing year and under the fourth year of the us ussr long term grain supply agreement
he and other political leaders spoke of qualified optimism following a statement by turkish premier turgut ozal last night that the research vessel would not enter disputed waters as previously annnounced unless greek vessels did so
peru has first trade deficit in four years
he provided no other details
he predicted that prices would recover again in the third and fourth quarters of 1987
their comments followed remarks by prime minister jacques chiracs spokesman denis baudouin who said on monday ministers were agreed on the desirability of relaunching the economy
in the ongoing probe allegheny said the staff has asked for information about company executive compensation and benefit plans certain company owned real estate travel and entertainment spending and the use of corporate aircraft
in 1986 the company said it opened nine stores and closed three
turnover was 18 pct lower than in 1985
scientific micro smsi sees higher revenues
malaysia said it cut the gazetted price of rubber to 202 7 8 cents per kg from 213 1 2 cents in march effective immediately
the tests had been successful and the missiles could be used against shipping in the strait the source added
no pickup in exploratory drilling is likely for the rest of the decade mitchell said
kirschner kmdc completes purchase
romero said a group of ec members led by west germany the netherlands denmark and norway were opposed to the tax
the only way to keep our good record is to maintain our exports the trade minister said yesterday should seoul revalue the won suddenly korea would run a tremendous trade deficit and could degenerate into a country like many other developing countries which is reneging on its international obligations the spokesman said south korea had been gradually appreciating its currency ruling out a major revaluation
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
but even with similar production man expects cuban exports to be significantly down
the main units will resume operation next week but the hydrocracker will be closed for an unspecified period
qtly div 12 cts vs 10 cts previously pay may 11 record april 10
he said that under the present schedule debt payments had slowed economic development and exhausted currency reserves
us personal income rose 02 pct in may spending up 01 pct
the balance will be shipped from mackay by end march harper said
at least in that way they said they could show a direct relationship between quotas and availability
the addition of the stores will bring krogers dallas division to 75 stores it said
a grain dealer at one member co op said the futures arm was a convenience something that saved us a little bit of money
lear apparently will retain its piper aircraft unit
in the cbis february survey 37 pct of companies expected a rise in output while 54 pct forecast production would remain at present levels and eight pct expected production to drop
traders say usda may lower orange crop estimate
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
nortek inc ntk sets quarterlies
under terms of the cap on costs it will not attempt to recover the portion of the budget increase that applies to the buybacks
shr 52 cts vs 40 cts qtly div 18 cts vs 15 cts prior net 793740 vs 603661 note share adjusted for 10 pct stock dividend in november 1986
michigan general corp said it has extended its exchange offer for its 10 3 4 pct senior subordinated debentures due december 1 1988 until april 23
for better living inc 4th qtr net
us fhl banks set 255 billion dlr debt offer
citybank is moving rapidly to move us down to fifth and wells fargo down to fourth he said
four banks barclays bank plc canadian imperial bank of commerce lloyds bank plc and standard chartered bank have agreed to underwrite the credit in a pre syndication agreement and will act as lead managers in syndication due to begin soon
rent a center inc said its directors approved a three for two stock split payable april 20 record april 3
there was balance between the purchase and sale of foreign securities the statement added
the sela document is expected to be approved by delegates from all 26 latin american and caribbean nations meeting here until friday
thai agricultural ministry officials have previously forecast a decline in 1986 87 raws output to around 23 mln tonnes from 248 mln in 1985 86
the issue is guaranteed by gillette co and is available in denominations of 1000 and 5000 stg
press reports said kaufhof wanted a stake of up to 125 pct in hapag lloyd
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
i know of no other country which is implementing such a free floating policy he added
shr net basis 214p vs 175p div 61p making 9p vs 65p pretax profit 372 mln stg vs 319 mln net after tax 257 mln vs 203 mln minority interest 700000 vs 11 mln extraordinary debit 19 mln vs 35 mln turnover 827 mln vs 7669 mln note the company said the sale of the minority holding in ocl in 1986 has transformed the balance sheet and enables it to accelerate development
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
the swiss federal government will launch a new series of three month money market certificates totalling around 150 mln swiss francs the national bank said
shr loss 26 cts net loss 1277737 revs 37 mln note full name canadian home shopping network ltd
dealers said overseas investors had not been buying today and predicted consolidation before next weeks uk budget
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
metropolis of tokyo sells 10 year bonds
us export inspections in thous bushels soybeans 13417 wheat 12003 corn 27623
gos ia 1 well located at a water depth of 41 metres was drilled under a production sharing contract between pertamina and japex north sumatra ltd each having 50 pct shares
the cuban leader said the mechanical cane harvesters scheduled to cut over 60 pct of the cane this year were particularly vulnerable as muddy fields prevent operations
lsb lsb in pact to acquire northwest federal
net includes loan loss provisions of 5765000 dlrs vs 4252000 dlrs in quarter and 433 mln dlrs vs 154 mln dlrs in nin mths
for the nine months ended november 30 supermarkets reported net income of 417 mln dlrs
for the first 10 mln avana shares received opting for the cash alternative ranks hovis would make a cash payment from its own resources
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
the spokesman said the loan will feature a call option after four years at a price also to be determined
seasonal exports reported by us exporters
the tender offer will be conditioned upon among other things the completion of financing arrangements
prior qtr and nine mth results were previously restated to reflect a change in depreciation methods that reduced net income by 175 mln dlrs or 16 cts per share
deutsche babcock sees higher 1986 87 profits
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
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
bankers said they would relay the brazilian request for an extension but declined to say whether they were specifically endorsing it
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
us treasury selling 975 billion dlrs of one year bills april 9 to pay down 25 mln dlrs
the company said it will distribute the dividend on march 31
first quarter net partly benefitted from net interest income up to 5618 mln dlrs from year ago 5409 mln dlrs
he added that telecom plus communications was the largest independent supplier of telephone exchange systems in the us and had achieved a turnover of 234 mln dlrs in 1986
total vacancies available rose by 1900 to 26300 at end march
macandrews and forbes wholly owned by ronald perelman chairman of revlon group held about 318 pct of the voting power of revlon as of march 27 a spokesman said
the potential risk factors are very large relative to what we had expected said a director at one uk merchant bank
the writer corp wrtc 4th qtr loss
moodys said the review was prompted by the recent bid by investor martin sosnoff to acquire control of the company
france announces plan to boost employment
nippon life japans largest life insurer also plans to set up a wholly owned investment unit nissei international america in new york next month and subsidiaries in canada singapore the cayman islands and jersey this year he said
national city bancorp ncbmo 1st qtr net
el nino is a phenomenon involving a shift in winds and waters in the pacific
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
icahn who heads and controls trans world airlines inc twa made the acknowledgement in a filing twa was required to make with the sec disclosing its 148 pct stake in usair group
the dominican republic sold 35000 long tons of sugar for immediate delivery with an option for 25000 tons more to czarnikow rionda of new york the state sugar council announced
privately eurobond traders estimate that about 80 pct of all new issues eventually become part of either an interest rate or currency swap
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
baldrige will be in peking from april 21 to 24
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
the credit terms extended for export sales under the intermediate export credit guarantee program gsm 103 must be in excess of three years but not more than seven years
it said the debentures would pay interest semi annually and be callable after five years at par plus accrued interest
the company said it paid about 70 mln dlrs in cash for the division which will be renamed samuel moore group
hamilton oil haml says reserves rise
proceeds will be used for general corporate purposes
federal paper said the preferred will be convertible into common stock
the spinoff of hancock textile co a chain of 324 retail stores was one of the key parts of the restructuring program
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
ellmann said he feels it is highly unlikely that any progress will be made in tomorrows hearing
a mascot fraction hole returned assays including 0190 ounce gold ton over seven feet between 57 and 64 feet it said
rexnord inc rex 1st qtr jan 31 loss
but it said improvement at lummus crest is expected to be approximately offset by a number of factors including a somewhat lower level of earnings in the power generation segment than in 1986 financing costs of the accuray acquisition costs associated with integrating accuray technology and operations and delays in waste to energy projects
japan carefully considering money policy sumita
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
anadarko apc files to offer convertible debt
holders other than an acquirer would be entitled to purchase for six months after the right becomes exercisable a number of shares of the new preferred stock with a market value equal to twice the exercise price of the rights
the current agreement expires on sept 30 1988
the company said the present rate on gnn common is 43 cts per share
prime minister edward seaga who led the jamaican delegation called the terms very favourable to his country
aviation and properties together account for 75 pct of the companys net asset value and about 85 pct of its net profits analysts said
in addition there are 95050 tradeable class a warrants and 100000 b warrants each of which entitles the holder to buy 10 shares of common stock at 125 dlrs and 150 dlrs respectively a share
us trade official says japan action foolish
moodys said it recognizes fords recent superior operating results and is assessing whether this performance can be expected to continue
the next term debt offering is scheduled for june 1 with an announcement covering the terms due on may 21
over the past 18 months as the us dollar plunged and investors moved into strong currencies the resulting sharp rise of the west german mark severely strained the system
the bank of england said it operated in the money market this afternoon buying 226 mln stg in bills
it was uncertain whether the court would reach any decision on the request today
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
the rest will be used up when bonds are issued to absorb advance deposits of 139 billion dlrs from the central provident fund cpf a mandatory pension savings scheme
ambrit inc abi 4th qtr jan 31 net
perry drug stores inc pds 1st qtr jan 31 net
he did not elaborate
hubco inc hco 1st qtr net
m 1 grew to an estimated 472 billion dlrs against 503 billion in december and 387 billion in january 1986
estimated profit per share 10 crowns vs 920
union texas said it received an average of 1335 dlrs per barrel for its international oil production and 299 dlrs per mcf for its foreign natural gas sales
a senior official at one of four prospective banks said the ministry told his bank it would give approval as long as the parent firm holds no more than 50 pct of the capital
it gave no details of the repayment terms of the loans
usda accepts bonus wheat offers for china
tomorrow it will be different
the commodity credit corporation ccc has accepted a bonus offer from an exporter on the sale of 75 head of dairy cattle to the canary islands the us agriculture department said
morrison inc morro 4th qtr may 30 net
in economic terms reform would be a plus said christopher chew of brokerage firm james capel and co
stearns based in crowley texas makes airport baggage conveyor equipment and passenger loading bridges
reduced production of natural gas and lower utilization of domes offshore drilling fleet in the beaufort sea also contributed to the decline it said
transport has often been hit by shortages of wagons spares and fuel
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
the moderate rise in economic growth next financial year should be sufficient to sustain employment growth at a level broadly equivalent to that of the current fiscal year
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
bahrain introduces new money market regime
as announced earlier the bonus was 9000 dlrs per tonne made to the pillsbury company and will be paid in the form of commodities from ccc stocks
vtx elecronics vtx sets sdtock split
1987 includes gain on disposition of investments of five dlrs in 3nd qtr and 7052 dlrs in nine months
the amount of corn we export to canada is insignificant the unexpected ruling appeared to be based on the agrument that canada bases its corn prices on us futures prices and that american farm policy has driven down these prices thus causing lower prices to canadian farmers and larger government payments through its farm stabilization program hall said
ec industry ministers meeting here considered two key proposals aimed at cutting back surplus capacity by 30 mln tonnes by 1990
waste managements tender offer announced before the opening today expires march 25
montreal trustco inc year net
us business loans rise 377 mln dlrs in march 4 week fed says
i dont think the world price is lower than our price anyway however the usda secretary said that if current conditions of surplus production persisted it might be appropriate to consider a marketing loan
donald trump was also unavailable for comment as was a spokesman for the crosby estate
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
hmo america inc said it signed a letter of intent with mount sinai medical center here and an affiliate providing that all of its common and preferred stock be acquired by a new not for profit company to be controlled by mount sinai and other chicago area not for profit hospitals who may elect to participate in the acquisition
bp also believed the acquisition represented the optimum use of its financial resources
wtc international inc waf 4th qtr feb 28 net
perrin long of lipper analytical said the brokerage stocks depressed somewhat by the dark cloud of the us insider trading scandal closed out february at a market value of 18 times book value
dome responded to the statement by suspending discussions with transcanada in order to pursue talks with other unidentified parties
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
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
biogen bgenf may sell european operations
the selling concession is 3 4 pct while management and underwriting combined pays 5 8 pct
borden inc called for redemption on march 23 of all its outstanding 8 1 2 pct sinking fund debentures due 2004
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
now they are falling but they have not reached the critical level compelling china to import quickly he said
lilly said it sold 400000 liposome common shares on march 17 at eight dlrs each
cuba in its telex told operators they would not receive march shipments as cuba has to meet its contracts to export markets traders said
rubber leaf disease seen affecting supply prices
first wisconsin natl bank fwb hikes prime rate
this compares with a year earlier surplus of 9589 mln rand
cellular communications inc comm nine mths
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
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
leader said it already owns 125 pct of petrorusrance and conversion would give it about 450 pct
the chances for exchange rate stability are good he told reporters
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
it said the book value of the unit is about 22 mln dlrs
the 22 month old administration has cut repayments to 10 pct of export earnings on nearly all its 144 billion dlr foreign debt
the government said the strike was designed to cause it embarrassment during the four day visit of west german president richard von weizsaecker which starts on friday
the proposals allowing night shift work by women and variations in the standard 39 hour working week are to be put to parliament as a self contained draft bill after being vetoed for procedural reasons by mitterrand and later the council of state
one month to one year deposits were indicated one point higher at eight seven pct but there was little activity at the longer end of the market
the strong state of government finances might permit it not to issue one or both of them he said
canada industry prices fall 02 pct in month
us facilities usre semi annual dividend
shr seven cts vs 26 cts net 200000 vs 450000 revs 7291000 vs 1177000 12 mths shr 37 cts vs 77 cts net 801000 vs 1329000 revs 26 mln vs 286 mln note 1985 year includes extraordinary gain of 10 cts per share
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
cts made a profit of 79 mln dlrs from continuing operations in 1985
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
burmah has the financial capacity to continue making acquisitions within its business sectors it added
permian said the present value of estimated future net revenues discounted at 10 pct is 1653 mln dlrs compared with 3743 mln dlrs
if the union walks out it would mean simultaneous strikes against all three major us television networks
manor care inc mnr 3rd qtr feb 28 net
moodys investors service inc said it affirmed the ratings on 12 billion dlrs of debt of chrysler corp and its unit chrysler financial corp
the sources said it would aim to carry a large part of kenyas coffee and tea exports and oil and fertiliser imports
maurice myers
cojuangco lives in self imposed exile in the us the shares grew to 381 mln after a 15 pct stock dividend announced last june
the protesters blamed finance minister lesly delatour for the closure saying his policies have hurt haitian businesses
the company said it is reviewing other offers to buy the units and if it decides to accept another offer it will pay hc an agreed upon amount and reimburse hc for its expenses
the legislation now goes on to the upper house for formal ratification later this week parliamentarians said
insituform of north america inc insua 4th qtr
xerox credit xrx notes yield 8061 pct
raising the price of grain would directly conflict with the goal of social stability said a china daily editorial this month
marine midland banks inc mm offering of 125 mln dlrs of subordinated capital notes due march 1 1997 through underwriters led by first boston corp
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
the us last year was hong kongs biggest export market accounting for over 30 pct of domestically produced exports
anzola said exchange agreement no
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
a cyacq spokesman said the new conditional tender price would be all cash
economists speculated that g 7 countries may try to bolster the pact by uncoupling us and west german interest rates further when they meet for the imf interim committee in april
shr profit two cts vs loss 105 dlrs net profit 1666000 vs loss 18306000 revs 291 mln vs 283 mln avg shrs 691 mln vs 175 mln year shr loss 21 cts vs loss 272 dlrs net loss 7571000 vs loss 45517000 revs 1174 mln vs 1233 mln avg shrs 354 mln vs 167 mln note results include losses of nil vs 473000 dlrs or three cts a share in quarter and 921000 dlrss or three cts a share vs 1137000 dlrs or seven cts a share in year from discontinued operations
the second case involved knapp being enjoined from violations of sections of the securities exchange act the nasd said
the international community cannot fail to respond positively to the collapse of the international market for commodities and act quickly to stabilize demand and prices of our commodity exports he added
an official at the us trade representatives office said us officials continued to press the ec to withdraw the rule but that the chances of that are not too good at this time however there is the expectation in us government and meat industry circles that the ec will continue to allow shipments at least through the end of the calendar year from us plants that submit to usda a plan on how they will bring their operations into conformity with the ec regulation the ustr official said
money market sources said in view of high borrower demand the suspension was likely to remain in effect until april 3 the start of the next 10 day accounting period for reserve requirements
average price in cents per lb
moodys downgrades zenith electronics ze debt
joan goodman an analyst with pershing and co also said american express could determine to sell shares to the public
baker confident banks will make big new loans to major debtors in 87
transamerica corps transamerica insurance co said it signed a definitive pact to buy a 51 pct interest in sedgwick group plcs river thames insurance co
the farm credit funding corp said it will not issue bonds as scheduled on april 21 because of a decline in borrower needs for term credit
that i think is the real significance of this consequently analysts said the japanese government might now feel more pressure to address us complaints about japanese chipmakers violation of the semiconductor trade agreement signed last summer
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
dutch planning agency forecasts lower growth
nsa inc offers to repurchase own shares
the united states appears to have lost sight of the us asean memorandum of understanding it said
a department official attributed the increase to growing domestic investment by the private and public sectors
that reference spoils what is otherwise a well thought out bill introduced by democratic senator lloyd bentsen he said
victor was a stock association with 564 mln dlrs in assets
in the consumer goods sector actitity rose sharply despite a fall in the household goods sector and stability in pharmaceuticals
the central banks statement added that the measure would be effective until the end of july
if we can consummate the deal earlier that would be better for all concerned lougee said
rubbermaid inc said it completed the previously announced acquisitions of viking brush ltd a canadian maker of brushes brooms and other cleaning aids and the little tikes manufacturing licensee in ireland
no exports are planned for the next 12 months or so and plans last year to sell one mln tonnes to iran came to nothing because they could not agree a price he said
lucas industries plc lucsl said its underlying performance would continue to improve in the second half but profits would be restrained by low activity in uk commercial vehicle and tractor markets as well as in north american electronics
qtly div six cts vs six cts prior pay april 10 record march 27
datron corp said it agreed to merge with ggfh inc a florida based company formed by the four top officers of the company
basf said that work this year had begun in geismar louisiana on plants for production of special amines and polytetrahydrofuran as well as for expansion of capacity for producing tetrahydrofuran
the central bank which last tuesday shut a daily aid window through which it lent funds of up to one year reopened the facility for three month money which was available at seven pct they said
horizon said its board and financial advisers consider the offer to be fair and reasonable and the board will unanimously recommend acceptance to its shareholders
some companies would be sold in their entirety and others would be privatised only partially according to jose palomino president of the governments state company holding firm the national development council conade he told reporters in a radio interview that the aim was to slim a projected public sector firm deficit of 11 billion intis
mobil corp said it raised its west coast crude postings effective today
the us agriculture department said private us exporters reported 200000 tonnes of corn previously to unknown destinations have been switched to the soviet union
the broadcast operations have been hit with layoffs and other belt tightening measures
but first interstate said that if brazils suspension of interest payments continues it may have to reclassify its loans as nonperforming and place them on non accrual meaning that interest previously accrued but not paid would be deducted from net income and interest would no longer be accrued
baker said the united states would continue to use its leverage in the banks to require foreign trade liberalization measures often in the form of elimination of subsidies
a local banker who declined to be named said its basically ridiculous
four us meat processors have asked the federal government to relax a labelling requirement which they said discourages the use of mechanically separated meat the us agriculture department said
the government should instead seek ways of making the best use of its fiscal policy he told a press conference
primary eurosterling market booms despite rate cut
moodys investors service inc said it may upgrade fleet financial groups 11 billion dlrs of debt
the banks lending last year consisted of 63 loans totaling 304 billion dlrs bringing the agencys cumulative lending to 3544 billion dlrs
nashashibi said lack of experience among arab banks a paucity of financial instruments and a legal framework that often does not recognise the western banking concept of interest have hampered the growth of arab markets
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
china is negotiating with pakistan to buy 5000 tonnes of cotton this year after importing the same amount last year under a barter agreement chinese consulate sources said
bearings inc ber 1st qtr net
she said usda has notified australia which assured it that stricter controls would be implemented
white house says japanese tarriffs likely
rice supply demand for thailand usda
engineering measurements emco sets partnership
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
a spokesman for schlumberger declined to elaborate on the companys news release
the icc had rejected in july the merger of the santa fe and southern pacific railroads on the grounds that it would reduce competition
international cocoa organization icco producers and consumers accepted the principles of a compromise proposal on buffer stock rules as a basis for further negotiation delegates said
royal resources corp said it has exercised its optioon to purchase montagu mining investments inc from samuel montagu ltd of london for 3600000 dlrs in cash and 200000 common shares
the williams natural gas unit had operating profit of 505 mln dlrs compared to 909 mln dlrs on lower sales volumes
the company said it expects to increase its semiannual dividend 125 pct to six cts per share post split from eight cts pre split
qtly div 10 cts vs 10 cts prior pay april 10 record march 27
delta announced last september that it was purchasing western
omnicare inc ocr 3rd qtr net
brand companies bran sees first quarter loss
mtly div 104 cts vs 108 cts prior paid april 1 record march 31
the hongkong bank group is still the leader in mortgage business despite tough competition from the bank of china group and other foreign banks one analyst said
turnover at 37 billion guilders in 1986 was 450 mln guilders down because of the lower dollar and lower raw material prices
the market seems to have established a new dollar trading range between 147 and 149 yen one dealer said
heublein said the move will increase the madera winerys efficiency by bringing it close to full capacity and result in the addition of more than 150 employees there
merrill lynch capital markets and wood gundy will be lead underwriters for to the public offering
james capel estimated cathays passenger kilometres flown last year rose six pct from 1985 and freight kilometres flown climbed 17 pct though the airlines load factor probably fell to 688 pct from 70 pct
shr profit 31 cts vs loss 20 cts net profit 1044424 vs loss 515425 avg shrs 3406841 vs 2544531 year shr profit 283 dlrs vs profit 42 cts net profit 8811142 vs profit 1058503 avg shrs 3111464 vs 2544531 note full company name is united fire and casualty co net includes realized gains of 93551 dlrs and 764177 dlrs respectively in 1986 qtr and year and of 92075 dlrs and 972935 dlrs respectively in 1985 qtr and year
lone star lce agrees to buy concrete operations
first commerce corp fcom 1st qtr net
m 3 fell to 7798 billion rand in january from 7931 billion in december while preliminary february figures show m 3 at 7942 billion rand for a year on year rise of 1063 pct
imports of wool rose 1176 pct to 10248 tonnes over the same period the figures show
the bank of england said it has revised its estimate of todays shortfall to 800 mln stg from 750 mln before taking account of 170 mln stg morning assistance
it looks like daiwa submitted a kamikaze bid just to get the business said one competitor
they said that while the fed has only a moderate add need over the next few days it will probably intervene in an attempt to counteract an elevated federal funds rate
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
s korean february current account surplus narrows
the secretariat said the support price of sorghum was increased to 210 australs per tonne from 200 australs previously and for maize to 250 australs from 220 australs previously
spectra physics said it also filed a lawsuit in delaware federal court this morning seeking to enjoin the offer and alleging among other things that the offer vilates federal securities laws certain agreements between ciba geigy and spectra physics and ciba geigys fiduciary duties
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
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 
philippine senate acts to speed debt pact
also affirmed were gms aa preferred stock and gmacs aa minus subordinated debt and a 1 plus commercial paper
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
ing c olivetti ec spa olivm does not exclude the possibility of investing in a semiconductor venture currently under discussion between italys stet societa finanziaria telefonica pa and frances thomson csf tcsfpa an olivetti spokesman said
imports are currently very low
it said it bought the bulk of its stake between feb 6 and march 13
despite this buying the price of cocoa is well under the 1600 special drawing rights sdrs a tonne level below which the bsm is obliged to buy cocoa off the market
our performance in 1986 marks a major turning point for k mart fauber said in a statement
taylor said it would be premature to speculate on the outcome of debt resturcturing negotiations with brazil or their potential impact on the royal bank
stop and shop cos inc said its bradlees discount department stores divisions sales for the five weeks ended april four were up six pct to 156 mln dlrs from 147 mln dlrs a year before with same store sales up one pct
brown and sons inc and painewebber inc
stad rotterdams premium income in 1986 was 117 billion guilders making it the fifth largest dutch insurer
berliner bank has suspended the three managers of its stuttgart branch and is continuing an investigation into the case in which state prosecutors are also participating
the report said the sri lankan rubber research institute may ask estates to remove trees seriously affected by the disease and added that most estates affected belong to the state plantations corp and janatha estates development board
the merger of uccel and computer associates combines the two biggest systems utilities suppliers other than ibm
cattlemen often give their animals a constant supply of antibiotics in feed to help them grow faster
the rapid appreciation of the japanese yen against us and canadian dollars last year led to sands loss of 21 mln dlrs or two cts per share on sales of 249 mln dlrs
mediq med in american medical ami unit buy
electromagnetic sciences inc elmgo 1st qtr
axlon axln names co chief executive officer
image video is scheduled to release 20 video projects in 1987 it said
supermarkets general sgl tender expires
tmoc has oil and gas interests and pipelines which complement the operations of santos the major cooper basin oil and gas producer
reagan says there is room for further declines in interest rates
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
don stacy told an oilsands conference that amoco canada has presented the solution to the dome problem and were investing our confidence dollars and determination to make that solution work the amoco buyout of debt burdened dome has angered canadian nationalists who want a canadian buyer for dome
ethyl corp said its subsidiaries completed the acquisiton of nelson research and development co nelr the merger was approved following completion on jan 27 of a tender offer valued at approximately 55 mln dlrs the company said
average yen cd rates fall in latest week
one of those attending the talks was mario amato head of the powerful sao paulo state industries federation fiesp business sources said he would argue that unless there were a relaxation in import controls a sharp downturn in industrial activity was inevitable
italys average interbank rate rose to a provisional 1218 pct in february from 1205 pct in january figures from the bank of italy show
several leading brokers have already announced plans to leave their firms and establish new private client businesses while others plan public floats
the us and kuwait have been negotiating for over a month on methods of protecting kuwaiti ships
director in charge of the japanese convertible operation is kelvin saunders who said the desk was currently staffed by seven traders and salespeople
traders cut bahia temporao cocoa crop estimate
tokyo to issue 100 mln dlr bond in new york
poehl told a conference in frankfurt on tuesday the central bank has no interest in higher capital market rates and he thought the global rate increase was a cause for concern
the company also said europharmaceutical is in talks to acquire either one or more publicly held companies with little or no assets
we take the current situation very seriously said the official who declined to be identified
analysts expect gencorp to resist the tender offer but they declined to predict what steps the company might take
wen wei po a hong kong daily with close peking links said the drought is the worst in over 20 years and some provinces have been without adequate rainfall for more than seven months
domtar said its directors believe the split could favorably affect marketability of the shares and encourage wider distribution
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
tonen sekiyukagaku kk and exxon chemical co a petrochemical division of exxon corp xon said they agreed to accelerate a study to set up an equally owned joint venture to make waterwhite resin in japan
they said this was despite the fact that the commission had to accept 785000 tonnes of sugar into intervention from operators protesting that rebates are too low
shr 95 cts vs 87 cts net 516 mln vs 473 mln revs 139 billion vs 126 billion nine mths shr 227 dlrs vs 193 dlrs net 1235 mln vs 1046 mln revs 392 billion vs 353 billion
a two year extension is possible
the 110 year old apparel manufacturer recently posted first quarter earnings of 54 cts a share up from 40 cts a year ago
queensland press board recommends murdoch offer
it was also shut earlier last week
terminating the tax treaty with the netherlands antilles may cause bond issuers to call in the bonds early
a sun chemical spokesman declined to comment
they told the two discussed the subject at a routine meeting
us exporters report 200000 tonnes wheat sold to jordan for 1987 88 delivery
unadjusted figures showed a rise in sterling m3 by 1 3 4 to two pct in february after a drop of 08 pct in january
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
eastman kodak issues australia dollar bond
g 6 wants to hold dlr above 150 yen nakasone
however other analysts speculated the managements of piedmont and usair would not tolerate icahn as head of a new company
we have to introduce some common sense into the discussion machinea said this week in cambridge mass
a group of boston investors and investment partnerships told the securities and exchange commission it sold its entire stake in silicon systems inc of 410000 shares or 60 pct of the total outstanding
fed sets two billion dlr customer repurchase
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
kaunda said the auction system had faltered because of the governments shortage of foreign exchange to meet demand
alfonsin who is beginning a four day private visit to the us was in philadelphia to speak to the private world affairs council a non partisan body dedicated to increasing public awareness of international affairs
several analysts previously had said they saw takeover values for the package delivery company in the 35 dlr per share range
plains resources inc said that as of december 31 its estimated proved oil and gas reserves rose by 27 pct to 543 mln barrels from 427 mln barrels and proved developed reserves rose 16 pct to four mln barrels from 345 mln barrels a year ago
qtly div 25 cts vs 25 cts prior pay march 31 record march 18
ecuador was forced to suspend oil exports for an expected four months after an earthquake damaged a pipeline
under the pact california micro devices will design the chips and tachonics will manufacture them
the us agriculture department forecast argentinas 1986 87 coarse grain crop at 1399 mln tonnes vs 1544 mln tonnes last month
net sales of soybeans totalling 274200 tonnes equaled the preceding week but were nearly a third below the four week average
regarding the potential rights offering qintexs us subsidiary will act as standby purchaser the company said
the trade deficit for 1986 was 2012 billion dlrs 257 pct higher than in 1985
the barley is for delivery august 15 november 30 in three shiments of 50000 tonnes each
vernes said he was satisfied the european commission has started to move in the right direction but said his company had no plans to change its decision to put sugar into intervention
tandy brands also said it completed a new two year credit agreement citicorps cci citibank and mcorps m mbank fort worth providing working capital lines and letters of credit of 15 mln dlrs in year one and 21 mln dlrs in year two
among the main factors affecting liquidity bills maturing in official hands and the take up of treasury bills will drain around 572 mln stg while a rise in note circulation wil take out some 280 mlns stg
republic rsla to merge with pioneer savings
no talks set on proposed japan telecom merger
gao will not likely suggest whether the certificates program should be slowed or expanded the gao official said
full year revenues totaled 237 mln dlrs the company also said
mexican finance minister gustavo petriccioli said mexico will sign its 77 billion dlr commercial bank loan on friday
great western said the pre tax gain on the sale will be approximately 65 mln dlrs and after tax gain will be approximately 15 mln
that means a guaranteed future for much of amc but it leaves in question the fate of many of its 19000 plus employees according to industry analysts
1986 qtr and nine mths includes gain 6233000 dlrs and 155 mln dlrs respectively from utilization of net operating loss carryforward
ambrit inc abi 4th qtr jan 31 net
all of us have a stake in the stability of the world banking system a debt forgiveness plan that damages commercial banks also weakens confidence in world financial stability us treasury secretary james baker told the iadb meeting
he gave no details but bankers say these are expected to be spelled out in the 1987 88 budget possibly in june
liffe liquidity could be higher than at the simex where average daily volume in treasury bonds dropped to 165 in february from 1286 last october when the bonds were first introduced
the 463354 tonnes output last year compared with a peak 1975 output of 700000 tonnes
brooklyn union the fourth largest gas utility in the united states purchased 36 pct of its supplies on the spot or non contract market in 1986 and the proportion of spot supplies was estimated much higher in the five months of 1987 analysts said
technician leslie keefe of technical data corp of boston said that the key test for june bonds will be whether the nearby contract holds above chart support at 96 24 32
zhang zhongji spokesman of the state statistical bureau quoted the figures as showing exports rose 27 pct to 728 billion dlrs and imports fell 51 pct to 833 billion
merry land and investment co inc said it will offer two million shares of common stock for sale
the company said termination of the agreement opened other possibilities including a possible leveraged buyout of the semiconductor maker by fairchild management
all ticket is a special events travel company with exclusive european rights to ual inc ual s united airlines apollo system booking all united airlines flights in britain and europe
profit taking pulled bond prices down from the days highs but a record close in the us stock market stimulated buying late in the day that offset this somewhat
trade sources said the smaller availability of rubber last month did not raise prices as on previous occasions
pessimism over the effects of a prolonged dry spell on the coming bahian temporao cocoa crop is rising with trade forecasts generally in the 20 mln to 25 mln bag range against 25 mln to 30 mln a fortnight ago
shr profit 75 cts vs profit 25 cts net profit 2742962 vs profit 936333 sales 749 mln vs 701 mln year shr profit 105 dlrs vs loss 107 dlrs net profit 3868888 vs loss 3931580 sales 2993 mln vs 2811 mln
payment is set for may 7 and the securities will be listed on the luxembourg stock exchange
precious metals climate improving says montagu
this divestiture is part of alleghenys overall restructuring program and strategy to concentrate primarily on its north american consumer products business the company said
coca cola enterprises cce sells debt
taiwan tendering thursday for us corn
while volume was considerable prices rose more moderately
as expected the strength in housing was concentrated in the single family sector
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
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
indonesia both individually and together with other members of the association of south east asian nations asean has protested against the ec plan to increase duties on vegetable oil imports he told indonesian reporters
sayad was one of the architects of last years plano cruzado program which froze prices ended widespread indexation of the economy and introduced the new cruzado currency to replace the cruzeiro in a bid to cut the 250 pct annual inflation rate
japans little known ministry of posts and telecommunications mpt has emerged as an international force to be reckoned with political analysts said
economists said some of the 18 members of the central bank council were worried about the continued overshoot in the money supply target and were bound to resist any moves to cut rates
they said the french and german producers involved are now unable to withdraw this offer before april 1 when the sugar will officially enter intervention stores
britoil plc 1986 pre tax profit 134 mln stg vs 759 mln
it said it has received about 11070000 shares under its 2250 dlrs per share offer which expired yesterday
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 practically eliminate its debt and embark on an ambitious expansion programme in its best performing divisions of sugar and building products analysts said
under the contract avco said the army will procure 3299 installed engines plus spare engines and a combination of modules and gear boxes
pilgrim venture corp said it signed a letter of intent to merge with marketing technologies group inc rockville center ny under terms of the agreement pilgrim a publicly held corporation said it will issue two mln shares of authorized but unissued restricted common stock to marketing technologies shareholders
officials of the french treasury and caisse centrale de cooperation economique aid agency will remain in madagascar until tuesday they added
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
i would be the last to recommend that
legislation giving state rail authorities a monopoly over grain shipments was one notable impediment it said
it said it had not yet determined the interest rate conversion terms maturity date or size of the issue
american petroleum institute president charles dibona said no options should be rejected to combat growing us dependence on foreign oil
of this amount it said about 47 mln dlrs would be available for distribution to the companys banks debenture holders and shareholders
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
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
shr basic 42 cts vs 141 dlrs shr diluted 42 cts vs 133 dlrs net 4394000 vs 13070000 revs 1910 mln vs 2233 mln
ongpin declined to disclose details of the banks new offer and bankers also declined to be specific ahead of their next meeting with ongpin on monday
fairfax said its flagship dailies the sydney morning herald and the melbourne age boosted advertising volume as did the australian financial review and posted extremely satisfactory performances
the us has decided to go through proper channels us trade officials again made clear their anger over what they call unfair government support for airbus voiced during a visit to european capitals in february
under a separate agreement the british government agreed to provide 7365 mln stg as a grant to develop a zinc and lead mine at rampura agucha and an associated smelting complex at chaneriya both in indias northern state of rajasthan the statement said
the acquisition is the latest in a series by santos as part of a program to expand from its origins in the south australian cooper basin
it said the 38 pct interest was sold by westwood funding corp a wholly owned subsidiary of combustion engineering inc csp westwood funding retains an interest in the partership and serves as a general partner it said
it also said that if the transaction is approved financial would generate a profit on the sale
he said the highest takeover price he calculated for the company has been about 140 dlrs per share but that the highest estimates on wall street have been about 160
order growth was broad based across ncrs product lines with the greatest growth coming from us it said
top discount rate at uk bill tender 95261 pct
with clear skies and seasonable temperatures fields were able to dry in areas that had received heavy rains in recent weeks allowing growers to accelerate the pace of maize sunflower and sorghum harvesting
final terms will be fixed on or before april 8
the non callable bullet issue maturing in august 1992 follows an earlier private placement bond announced last month for 250 mln francs but with the same conditions
only 55 exploratory wells were drilled in kern county in 1986 compared to 137 in 1985 according to david mitchell of the state energy commission
shamrock capital completes central soya sale
the 12 1 4 pct notes will be redeemed at 10847 pct plus interest from november 1 1986
an additional 350000 tonnes of us barley are still available to saudi arabia under the export enhancement program initiative annnounced on may 15 1987 it said
wickes also said it will call the debentures on dec 1 1987 assuming market conditions remain essentially the same
it said the market will in its first phase trade four bonds two issued by banks one by a well known city bicycle factory and one issued by the city government to finance construction of a road
great atlantic and pacific tea co said it withdrew its offer to buy delchamps inc
genovese drug stores inc spec sets quarterly
syeduzzaman said the export target has been set at 900 mln dlrs this year against 626 mln in 1981 82
the group already controls 1647481 fairchild industries shares or 115 pct of the total outstanding
however it would not add much to profits with much of the companys operating profits paying for the acquisition costs
american motors corp said its auditors qualified the companys 1986 financial report
lvi an interior construction firm said the acquisition is subject to execution of a definitive agreement and completion of due diligence
instead m 1 fell eight billion dlrs to 7457 billion dlrs at a seasonally adjusted annual rate
shr 82 cts vs 63 cts net 1661000 vs 1251000 revs 148 mln vs 116 mln
the redemption price will be 107179 pct of the principal amount plus accrued interest the company said
hk shanghai bank standard chartered bank raise prime one half point to 65 pct
last year a sumitomo life insurance co official was appointed to ef hutton group inc unit ef hutton and cos board and sumitomo bank ltd spent 500 mln dlrs to become a limited partner in goldman sachs and co
cargill uk strike talks to resume this afternoon
it said a final proration factor should be announced and payment for shares start october 26
echoing gavirias words jorge cardenas manager of the national coffee growers federation said colombia sought to adapt its coffee marketing policy to circumstances
smaller firms have criticized ipmas efforts to restrict membership to the larger firms saying it is anti competitive and that it reinforces the big firms already large market share
century business credit corp cty 4th qtr
japanese official takes data to microchip talks
partners on draugen are shell the operator with a 30 pct stake british petroleum co plc bpl unit bp petroleum development norway ltd 20 pct and state owned den norske stats oljeselskap a s statol statoil 50 pct
shr six cts vs five cts net 188000 vs 130000 revs 122 mln vs 101 mln avg shrs 3029930 vs 2764544 12 mths shr 81 cts vs 145 dlrs net 2463000 vs 3718000 revs 524 mln vs 475 mln avg shrs 3029930 vs 2566680 note net for 1985 includes 500000 or 20 cts per share for proceeds of a life insurance policy
terms were not disclosed
base rates will decrease by 625 mln dlrs due largely to its sale in the seabrook nuclear power project a reduction in federal income taxes and lower costs of capital
the company also said it will redeem warrants till outstanding on june two at 10 cts each
bennett who is leading one of three soybean producer delegations on a lobbying tour of ec capitals was speaking at a lunch
the midam also offers smaller sized futures and options on currencies precious metals grains and livestock
bulgaria signs 40 billion euroyen loan
the work includes the construction of more than 70 buildings and associated infrastructure to accommodate the armys new 10th mountain division
hopefully they will now start to cut back production to get supplies in line with demand he added
soybeans account for the bulk of the surplus and us stocks make up most of those balletto said
they want to focus on the deal and they wanted the banks to focus on the deal one source said
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
for the week ended march 20 the api said gasoline stocks fell 27 mln barrels
colonial said it also signed letters of intent to acquire first federal bank in opelika athens limestone bank in athens jackson county bank in scottsboro and commercial national bank in demopolis with aggregate assets totaling 130 mln dlrs
and initially traders indicated their respect for the accord by refraining from pushing the dollar lower
elders grain inc of kansas took a 33000 tonne shipment at 9606 dlrs per tonne for december 1 15 delivery
should there be any significant change in market prices the committee would immediately call for an extraordinary meeting of the conference with a view to deciding on the necessary opec production levels during the second half of the year which would secure the desired market stability the conference reiterated the necessity of member countries strict adherence to the agreement signed in december 1986 both in terms of official price and national production levels
stanley interiors sthf to sell convertibles
dtd enterprises inc in reorganization
oper shr loss 23 cts vs profit 16 cts oper loss 1868000 vs profit 1293000 revs 183000 vs 3400000 note oper data does not include year ago extraordinary gain of 750000 dlrs or nine cts per shr
the bank of england was also rumored to be buying dollars against the yen this morning but it also declined comment
for full year 1987 the daily telegraph could break even or better said black citing major reductions in labor costs and improved technology at the telegraph britains largest circulation quality daily
the 1985 december quarter showed a 13 mln dlr deficit
the figure which excludes construction and public works put the january index base 1980 at 99 after 101 in december
he was unable to confirm the tonnages involved
rep
paribas plan to adjust ecuador loan terms opposed
slab zinc consumption was 14257 tonnes against 14190 during december while offtake of scrap and re melted metal was 4521 tonnes against 3739
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
parts of the service sector are also threatened otsuki said
the group which includes audio video affiliates inc and a unit of citicorp cci said it also obtained additional financing commitments including an increased commitment from citicorp capital investors ltd
widdrington said labatts three year business plan now being updated targets total sales of about six billion dlrs including 250 billion dlrs in the us labatt canadas leading brewer has expanded in the us food products industry by acquisitions
dome said it charged the 214 mln dlrs in accumulated foreign exchange losses to current expenses because of the uncertainty arising from its proposed restructuring plan
allegheny international inc said it and first boston incs fbc sunter holdings corp subsidiary have been named as defendants in a class action filed in the court of common pleas for allegheny county pa which seeks an injunction against alleghenys proposed merger into sunter
if that takes place natural gas will also regain some of the market share it lost to heavy fuel in 1986 it said
caesars world owns casino hotels in nevada and honeymoon resorts in pennsylvanias pocono mountains
the ministry also asked electronics firms to provide distributors with certificates designating them as authorised exporters in an effort to close loopholes through which grey marketeers sneak chips out of japan market analysts said
at chemicals and plastics expenditures rose to 147 mln dlrs from 133 mln and at industrial gases they rose to 209 mln dlrs from 168 mln dlrs
the us agriculture department estimated canadas 1986 87 wheat crop at 3185 mln tonnes vs 3185 mln tonnes last month
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
but the annual rate stayed below that of the us for the second month in succession following the release of figures showing us inflation of 38 pct in both april and may
husky said a special committee of five outside directors recommended the board approve the transaction after determining that the deal was in the best interests of husky and fair to shareholders
he declined to be more specific
under the proposal arkla will support ips plan to build the alternate pipelines while ip will allow arklas pipeline division to deliver an equal quantity of competitively priced supplies to other ip facilities
last year we asked for moderation in exports and this year we may have to do so again he said
frances cna issues three billion franc bond
brooks said management is pleased by a number of investment proposals bought to them but he added the investors must be willing to invest in the future growth of the company and not just selling off assets brooks also said he was not aware of any direct intervention by the us in an attempt to block the merger
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
was closed on february 27
the us credit market ended under extreme pressure as the dollars continued slide on the currency markets triggered an avalanche of us securities sales pushing prices to 1987 lows dealers and analysts said
dart said it sold 14 mln dayton hudson shares expects to sell rest of holding
the meeting came after baker criticised west germany for increasing short term money market interest rates
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
cathay added new planes and was forced to fly some routes last year because of the threat of competition from dragon air said tsang
also dallas based uccel had engineered a strong comeback from the dark days of 1982 when as wyly corp it lost 77 mln dlrs or 56 cts a share
analysts have said that purolator has been for sale for some time
the philippine negotiating team refined the pins idea three times before the final agreement was struck last friday ongpin said
s and p also said the outlook for firm sales growth is positive because of a vibrant regional economy
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
underlying dollar sentiment is bearish and operators may push the currency to a new low unless japan takes steps to stimulate its economy as pledged in the paris accord foreign exchange analysts polled by said here
chemlawn had rejected waste managements earlier 27 dlr per share offer saying it was an undervalued bid
southmark received these rights on april six as the holder of about 84 pct of american realty trusts outstanding shares
in a speech to financial planners this week beryl sprinkel the chief white house economic adviser predicted the trade deficit will continue to improve
china adds cancels wheat commitments usda
the company stated this layoff does not affect the production of its new 5 1 4 inch beta 20 product which is currently being built to a backlog of orders
perus exports fell to 251 billion dlrs last year from 298 billion in 1985
the peak broke a steady trading trend of 15 to 17 billion dlrs a day seen in the second half of 1986
kuwait has backed iraq in the seven year war against iran and its ships have increasingly been the target of iranian attacks
storehouse reports higher profits in 1986 87
in 1986 the economy grew by an actual 31 pct
p and o said 1986 produced an acceptable level of growth though ground has to be made up in one or two areas
thai rice exports fall in week to march 31
the french move is thus seen as a form of protest designed to force the commissions hand
helaba luxembourg hessische landesbank international has issued a 300 mln luxembourg franc seven year private placement with a coupon of 75 pct and priced at par lead manager banque generale du luxembourg said
us crude oil stocks were reported down by 44 mln barrels for the week ended march 13
the company said it has completed mining the crown pillar which has produced 71000 ounces of gold since 1983
if it is however he said that fed probably has just nudged up its funds rate goal to around 625 to 635 pct from six to 610 pct previously
cramer inc crmr 4th qtr loss
diamond shamrock corp which will split this month into two separate companies expects to show improved earnings in 1987 over last year executives of the new company told 
in athens greek prime minister papandreou said that if the turkish vessel sismik 1 began research operations we will hinder it of course not with words as it cannot be stopped with words greek newspapers said the armed forces were on alert and navy ships had gone to the aegean
iraq said its warplanes launched two bombing raids on irans offshore nowruz oilfield in the northern gulf today
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 1986 net losses inlcude 7507000 dlr charge from discontinued operations of building management system sold to cetek system inc on jan 30 1987
the bank of england said it provided the money market with assistance of 104 mln stg in the afternoon session
analysts say that the appraised value of the company could be revised due to asset sales of their oil and gas reserves
after an onslaught of new paper fewer mark eurobonds issues are expected this week bankers said
citibank says it raises base rate to 7 3 4 pct from 7 1 2 pct
wilson said the only remaining issue is the length of the union award
it said it anticipates a return to profitability in 1987 for its diamond bathurst inc dbh subsidiary which lost 62 mln us dlrs and underwent a reorganization last year and expects higher sales and earnings for its other north american packaging divisions
the statement quoted yu as telling finance ministy and central bank officials the relaxation was needed to help reduce taiwans surging foreign exchange reserves which reached a record 53 billion us dollars this month
dai nippon printing co ltd dprit said it will issue three convertible yen bonds on domestic markets
while relative exchange rates had a role to play in defusing the threat of protectionism it alone did not offer any solution he said
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
machine technology mtec sees 2nd qtr loss
primages inc said it introduced a new daisywheel printer that can print 90 characters per second and features graphics capabilities
democratic senator barbara mikulski of maryland told baker at the senate appropriations subcommittee hearing many say the banks are financing competition for american jobs she recommended that the united states use its participation in debt forgiveness for developing country loans as a wedge to open markets to us goods
venezuela budget sees 1635 dlrs oil price
in a document to shareholders bond corp said the delay follows its receipt of a 240 mln hk dlr loan from its parent company to meet the first payment on the newly acquired bond centre commercial complex in central hong kong
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
851 billion operating income 198 mln francs vs 256 mln net extraordinary charges 592 mln vs 472 mln note company plans 50 pct capital reduction banks to convert 300 mln francs of credit facilities to subordinated loans
a statistics office statement said the widening of the february current account surplus compared with january was due to seasonal factors
in a filing with the securities and exchange commission spear leeds said it bought the stake for 117 mln dlrs as part of its normal trading activities
a strong performance from all bat industries plcs btil major sectors enabled the groups 1986 pretax profits to pass the one billion stg level for the third year running chairman patrick sheehy said in a statement
ecuadors opec oil output quota is 210000 barrels per day bpd a senior energy ministry official said that one pumping station at el salado on ecuadors main pipeline was damaged
crane co cr 3rd qtr net
simply to ignore the external economic context would be risky and dangerous for monetary policy he explained
it said the second offer is contingent on the arrangement of financing adding the party making the offer is confident of its ability to obtain the balance of the financing
merrill offered 4850 dlrs cash per share for 89 pct of borg warners common stock and a package of cash and securities for the balance
there is no m 1 target
conable linked an increase in world bank lending to indonesia to implementation of further economic policy reforms
another 250 mln dlrs will be needed to repay certain debt of borg warner merrill lynch said
s k i ltd skii 2nd qtr jan 25 net
these discoveries will help australias self sufficiency in oil reserves thereby offsetting in part the decline in bass strait production now under way mcgill said
4 the floor price will not be breached
the factories have a capacity to produce the equivalent of 16 mln tonnes of starch in starch and by products a year or about one third of ec production from about 27 mln tonnes of cereals
transco partnership txp gas reserves rise
brown and sons inc and montgomery securities
house speaker jim wright predicted passage of legislation requiring the reagan administration to provide congress with a report on its mideast gulf policy but a last minute revolt by an alliance of liberals and conservatives left the bills fate in doubt
bond traders said the japanese who purchased a record 95 billion dlrs of canadian bonds last year have adapted to the changes by buying longer term provincial issues and shifting to the medium term issues offered by ottawa
after a number of construction delays unit one went into operation in may 1985 and unit two went on line in march last year
the trail smelter produced 240000 long tons of zinc and 110000 long tons of lead last year while the sullivan mine at kimberley produced 22 mln long tons of ore last year most for processing at trail
brazil has to do business through the banks at this point said another official following an assessment of that countrys latest debt crisis
shr loss 144 dlrs vs profit 179 dlrs net loss 1975 mln dlrs vs profit 2414 mln revs 7973 mln vs 9067 mln 12 mths shr loss 342 dlrs vs profit 45 cts net loss 4628 mln vs profit 518 mln revs 304 billion vs 348 billion note net includes special charges of 65 mln dlrs vs special gain of 341 mln dlrs for the qtr and year
but the effect of the deal on 1987 earnings can be evaluated in full only when the definitive pacts are completed it said
union camp corp ucc 3rd qtr sept 30
victoria state body issues canadian dlr eurobond
previously associated with junk bond experts drexel burnham lambert inc gaf said it would finance its borg warner takeover with bank financing
it will be paid in the form of commodities from the inventory of ccc stocks
the book value of its assets is 44 mln stg
but it became clear to us that it was in the best interests of both nzi and ourselves for brierley investments to acquire our holding he said
the employers have written to the union asking it to reconsider its position and a meeting of union members has been called for tomorrow
he said the refinery could run crude as heavy as venezuelas bolivar coastal field bcf 17 api without any difficultiesand would probably move over time to a heavier diet to take advantage of bigger margins
it also suggested the setting up of a marketing mission on coconut fibre to be sent this month to principal target markets
norstar an albany ny holding company reported net income of 1048 mln dlrs and assets of 111 billion dlrs
however it was impossible for them to follow the last cut to 58 pct from 62 pct on january 28 because the trust fund bureau rate was legally set at 605 pct
varity also said it would seek shareholder approval at a special shareholders meeting on april 9 to authorize a transfer of values to the contributed surplus account on its balance sheet from the stated capital account for common shares
anchor glass container corp anc 3rd qtr net
january september figures released at the weekend showed soviet oil output in the first nine months of this year at 467 mln tonnes
societe generale reports higher 1986 profits
citicorp cci appears to be digging in its heels for tough negotiations over the billions of dollars in loans that brazil owes to money center banks wall street analysts said
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
the world bank is issuing 150 mln australian dlrs of zero coupon bonds due april 15 1992 priced at 53 lead manager hambros bank ltd said
lusinchi said the 203 billion dlr debt rescheduling signed feb
qtly div 26 cts vs 24 cts prior pay april 30 record april 15
premdor manufactures and sells wood doors
nickles symms and others also have cited other loans such as a 1985 world bank loan to hungary to expand livestock exports and 500 mln dlrs lent to thailand from 1981 to 1985 at low interest rates for agriculture
piccadilly cafeterias inc picco 1st qtr net
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
fed expected to take no money market action
west germanys current account surplus widened to a provisional 66 billion marks in february from a slightly downwards revised 48 billion in january a spokeswoman for the federal statistics office said
the uk confectionery side gained market share and increased trading margins
the basic balance of payments deficit in february fell to 402 billion dlrs from 417 billion in february 1986 and 737 billion in january
shr 212p vs 160p div 475p making 825p vs 583p pretax profit 505 mln stg vs 362 mln turnover 402 billion vs 388 billion tax 128 mln vs 85 mln operating profit 527 mln vs 421 mln operating profit includes other income 30 mln vs 41 mln financial costs 52 mln vs 100 mln minorities 25 mln vs 16 mln earnings 352 mln vs 261 mln extraordinary credit 78 mln vs 34 mln debit
it also controlled 23250 convertible preference shares or 02 pct
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
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
societe generale issues 15 billion yen bond
he says the worst thing that could happen is to allow monetary policy to spread a freakish increase in one commodity to the rest of the system and to other commodities
soviet purchases to date may not be far short of that quantity czarnikow said
ec farm spending currently swallows two thirds of an overall annual budget of around 40 billion dlrs and is almost entirely blamed for a projected budget shortfall later this year of some 57 billion dlrs
the official gave no figure for february output
the borrower is wholly owned by international business machines corp ibmn
lafalce said the facility could use funds of the world bank and international monetary fund as collateral to for the necessary financial banking to issue debt instruments
sumitas statement was issued after the dollar slipped below 150 yen to hit a record low of 14840
even excluding volatile defense goods durable goods orders rose a healthy 38 pct the agency said
he is the first high level us official to visit japan since president reagan announced last week plans to impose tariffs worth up to 30 mln dlrs on japanese electronic goods on april 17 in retaliation for tokyos alleged failure to live up to a pact on microchip trade signed last september
gencorp spokesman rip tilden said the company will retain about 100 mln dlrs in liability for its former general tire employees under the agreement
it would also reduce export credits that do not involve aid and reduce credit subsidies permitted for relatively poor countries the treasury said
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
president reagan who strongly supported the uruguay trade round to promote freer trade has said washington will impose tariffs against japanese electronic goods
out of the total 1104 billion dlrs correspnds to the medium and long term debt owed by the public sector to foreign creditors
kent rockwell who controls rockwell venture capital inc will buy 27 pct of the companys cumulative preferred stock
foreign trade minister anita gradin said a trade boycott of south africa and neighbouring namibia would take effect from july 1 followed by a three month period of grace to give companies time to wind down their operations
hal roach hrsio robert halmi rhi to merge
the disparity between output and sales is showing up in inventories economists pointed to sharp rise in january us business inventories as a sign that production may be outstripping demand in the first quarter of 1987
canadas wilson seeks temporary borrowing
norcros ncrol plc said it has no intention of proceeding any further with talks on williams holdings plcs suggestion that there would be benefits arising from a merger between the two groups
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
nationwide said a surge in claims from personal auto insurance and the volatile commercial liability coverages during a period of unprecedented sales growth generated the loss
the us state department said two days ago tehran had been told of us concern that iranian anti ship missiles posed a threat to the free flow of oil from the gulf
allis chalmers corp said it has sold its elex ag unit in zurich switzerland to private investors for an undisclosed amount
reducing these prices could increase household spending power by five pct his study said
results for the qtr and the six mths in current year include loral systems group formerly goodyear aerospace acquired in march 1987
in 1986 japanese imports and exports with the ec both grew by around 50 pct in dollar terms five pct in yen
the sources said italy which refused to join the paris pact was invited back by treasury secretary james baker
harcourt hbj disappointed with harper hpr 
upon such an agreement waste management said it would amend its 27 dlrs a share cash tender offer
during a debate on the 1987 88 british budget which lawson unveiled last week he said that during the period of foreign exchange market turbulence which followed the somewhat inconclusive group of five and group of seven meetings at the end of september i authorised the bank of england to intervene unusually heavily in order to buy breathing space that would enable me to confine the interest rate rise to one pct rather than the two pct the market was then pressing for he said that that one percentage point increase effected in october 1986 had been reversed by this months two half point cuts in banks base lending rates
they said citicorp is likely to convert the branches to banks at that time
evans was referring to a nearly completed government review of oil taxation
us minerals said the new montana tunnels mine near helena mont is expected to reach full production in august 1987
he said the dollar would not continue to fall because of underlying market concern about the rapid rise of the yen
exports in 1985 86 are estimated at 1771 mln tonnes vs 1772 mln last month
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
hughes ht approves merger with baker bko 
prior nine mths net includes 512 mln dlr gain from cumulative effect of accounting change
dairy farm international holdings ltd said in a statement it is making a tender offer for 22 pct of kwik save discount group plc kwikl of britain for a total 1466 mln stg
final terms will be set on april 15
it said this is the largest such program to date for a building society and the first to be denominated in us dollars
beaver creek state bank in beaver creek minn failed and the banks insured assets were transferred to citizens state bank of silver lake minn the federal deposit insurance corp
the 80 pct notes are convertible to one share on may 1 and november 1 of each year from next november
things have improved but money center bankers are determined to keep hounding recalcitrant banks even once the 77 billion dlr target has been reached
economic spotlight mitsubishi heavy fights back
net proceeds from the offering will be used to reduce bank borrowings national medical said adding merrill lynch capital markets will manage the underwriting
indias castor oil exports are provisionally estimated at 30000 tonnes in fiscal 1986 87 ending march 31 against 54000 tonnes in 1985 86 due to a shortfall in the domestic castorseed crop private traders said
a high command communique said warplanes hit the western jetty at irans kharg island oil terminal in the afternoon and struck a supertanker nearby at the same time
baldrige says japan must open its markets
sight deposits are a major indicator of money market liquidity in switzerland
by 2000 maybe we will overtake shanghai he added
ic said it will redeem 69 mln dlrs in 14 pct guaranteed notes seven pct swiss franc notes of abex international worth 40 mln swiss francs 262 mln dlrs and 184 mln dlrs of 11 5 8 pct pneumo subordinated sinking fund debentures
it was a very very prudent fiscal budget richard jeffrey of brokers hoare govett said it was a well balanced budget within the confines of the governments philosophy of keeping expenditure levels flat
the union said talks with management over the proposed move had broken down
alp grew by 114 pct during 1986
pubco said the rights are not being distributed in response to any specific effort to change control of pubco and the board is not aware of any such effort
federated department stores inc ups qtly div by 105 pct sets 2 for 1 stock split
the increased cost of using us vessels was to be funded by the transportation department instead of usda
this followed a small rise in january of 400000 bpd but a decline of 15 bpd in february and 25 bpd in march
sound warehouse inc swhi 3rd qtr feb 28 net
treasury balances at fed fell on march 10
however the official said the us had been assured that almost all the exports would be reserved for its traders
interest will be paid in guilders and each 1000 guilder bond will be redeemed in 31300 sterling on april 15 1992
helaba unit issues luxembourg franc placement
west germany recorded a net outflow of 753 billion marks on the february capital account combining long and short term capital flows compared with a net inflow of 1191 billion marks in january the bundesbank said
vague rumors that wendys is a takeover candidate continued to circulate wall street traders said
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
us trust co said it raised its broker loan rate to 7 3 4 pct from 7 1 2 pct effective immediately
southern national corp said its board declared a three for two stock split payable to shareholders of record on may 22
shr not given net loss 9900000 vs loss 17300000 revs 147 mln vs 298 mln note previous loss restated
the second proposal would link continuation of a quota system with progress toward plant closures although less than a month ago the ec steelmakers lobby group eurofer said they had abandoned efforts to close plants voluntarily
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
new zealands inflation and interest rates should decline and the balance of payments improve significantly in the fiscal year to the end of march 1988 the institute of economic research nzier said
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
treasurer paul keating forecast economic growth at slightly under two pct in the financial year ending june this year down from the 225 pct forecast contained in the 1986 87 budget delivered last august
eurobonds for texaco inc subsidiaries were unquoted this morning as traders assessed the implications of the companys shock weekend decision to file for bankruptcy under chapter 11 of us bankruptcy laws eurobond dealers said
towle also said that it is likely that general unsecured claims including claims of subordinated debenture holders will be paid at less than 100 pct of their face value and without interest
meanwhile the oilseed plant breeding association amsol said sunflower plantings in france this year are indicated at between 900000 and 950000 ha against 829000 harvested last year while soya plantings are indicated at 80000 ha against last years harvested 48000
he said the court move aimed to freeze saunders assets up to the value of the sum it wanted to recover
these reserves were no longer necessary because of recent declines in raw material prices
after stifling pressure for a rate cut last week the authorities finally sanctioned a base rate reduction on monday following it up with the announcement of the one billion stg bond issue
that decision agreed in outline last december after virtually nine days of non stop negotiations was hailed as the most significant step yet in the reform offensive but has since run into difficulties over the fine print
ministers hope to approve a closure program when they meet again in brussels on june 1 the sources said
first southern fsfa to make acquisition
it should act as a brake because banks will know that if they bid high they will have to pay what they offered a western diplomat commented
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
s and p affirmed the companys a rated senior debt and a 1 commercial paper
it is only with great regret that we have taken this route but we have had no political help and therefore have no option even though it could take years pex added
smith sees ge earning 135 dlrs per share in the current quarter
the figures are unreservedly good chase manhattan securities economist andrew wroblewski said
texaco said the proven crude oil reserves of the company and its consolidated subsidiaries totaled 254 billion barrels at the end of 1986 down from 269 billion a year earlier
comerica inc said it raised its prime interest rate to 7 3 4 pct from 7 1 2 pct effective april 1
the bureau attributed the fall to a long christmas break and particularly cold weather which lowered production in the forestry industry
the business which will operated under the name sk wellman will become a member of mlxs specialty friction materials group
the debentures have an 8 1 2 pct coupon and were priced at 99 to yield 147 basis points more than comparable treasuries
the bond tender is the first for the fiscal year ending on march 31 1988
in 1986 japanese imports and exports with the ec both grew by around 50 pct in dollar terms five pct in yen
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
however he said production of zinc ingots this year was expected to fall to around 86000 tonnes this year at cajamarquilla from 94000 tonnes in 1986 because of the stoppage
national computer systems inc nlcs 4th qtr net
the lynch officer said he was invited by other becor shareholders to make an offer
royal bank of canada lowers prime rate to 8 3 4 pct down 1 2
thailands major tin exporter and producer thailand smelting and refining co thaisarco said it may be unable to meet all its overseas orders because of insufficient supplies of tin concentrates from thai mines
addressing argentine businessman during the inter american development bank iadb meeting here he said the two sides will meet again next thursday in new york
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
excluding autos retail sales in february were up 15 pct after falling by a revised 04 pct in january
the buffer stock manager will accept offers for different origin cocoas according to a sliding scale of price differentials under which ghana cocoa will be pegged at a 137 stg premium to malaysian
the 1986 net loss included a 5457 mln dlr asset writedown before a 1392 mln dlr recovery of deferred taxes
savoy industries inc savoo 1st qtr loss
it said it had received interest from several parties but no agreement has yet been reached
we represent the first victim of the move to price other countries natural resources according to the us system zimmerman said
that was no slip of the tongue said one western monetary official who asked not to be identified
atari corp said it filed with the securities and exchange commission a registration statement covering a 75 mln dlr issue of convertible subordinated debentures due 2012
the rise was led by price gains for papers pharmaceuticals and petroleum and coal products
philadelphia exchange to extend hours for asia
austria treasury note issue likely to be increased
we project free world dependence on persian gulf oil at 65 pct by 1995 herrington said
david kritchevsky associate director of the wistar institute in philadelphia appeared to take the asa view on labelling
the target is equivalent to five and a half months worth of imports
but they are not so sure if that would be a brief corrective dip or whether this weeks falling share prices mark the start of a bear market
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
pennzoil shares were indicated at 85 to 87 dlrs compared with fridays new york finish of 92 1 4 dlrs
japan expected to cut base rate for state bodies
nakasone sumita agree discount rate cut not appropriate now central bank sources
higher spending expected in malaysias 1988 budget
new zealand launches 100 mln stg eurobond
combined international corp should have another strong year president patrick g
initial financing would come from the companys cash flow
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
moscows trade surplus with east bloc countries continued to grow in 1986
mobil corp said the 49 28 14 wildcat well in block 49 28 of the british north sea flowed 506 mln cubic feet of natural gas per day from depths of 7742 to 7777 feet
venezuela will lend ecuador up to 125 mln barrels of crude oil to help it meet its export commitments and its domestic energy demand ecuadorean energy and mines minister javier espinosa said today in a statement
a proposed sales tax on gold transactions could put a damper on the tokyo market and encourage a shift of trading to hong kong and singapore senior vice president and tokyo branch manager of credit suisse paul hofer told a press conference
brazil crisis spurs rethink of debt strategy
he said cavendish will have seven billion dlrs of assets and will be almost debt free with 340 mln dlrs of liabilites
net shr 76 cents vs 30 int div 30 cents vs nil net 1693 mln vs 547 mln sales 16014 mln vs 235 mln
the bank also amended other aspects of plans to strengthen its supervisory powers over banks in the paper which called for comments from professionals by march 31 to allow their possible inclusion in the banking bill in time for its planned final discussion in parliament scheduled before summer
stoltenberg says criticism not one way street 
vaskevitch is living in england and sofars whereabouts are unknown he said
usda estimated soviet 1986 87 coarse grain imports at 1000 mln tonnes vs 800 mln tonnes last month and 1985 86 imports at 1370 mln tonnes vs 1370 mln tonnes last month
on a per acre basis cotton payments will reach 7324 dlrs in 1987 wheat 6030 dlrs sorghum 5438 dlrs barley 2741 dlrs and oats 231 dlrs usda said
new bank lending has been slow in materializing but the fact of the matter is there have been 70 billion dlrs in bank loans restructured which is a form of extension of credit
when they realise it is not a free for all in the market they will realise they should buy now instead of paying more later on he said
it said railway maintenance had 1986 sales of 16 mln dlrs and employs 100 people
leading industrial nations are expected to consider new forms of debt relief for the very poorest nations like those in the sub sahara during next weeks meetings
in a separate statement usair said the agreement also included a provision that all usair shares currently owned by twa and its chairman carl icahn will be voted through a voting trust in proportion to the votes of other shares not controlled by twa or icahn
lance inc lnce 1st qtr net
trico tro sets date for acquisition vote
virginia federal said the proceeds would enable it to provide increased mortgage and lending services and enable the company to compete more effectively in the virginia market
the bank of japan sources said the us is putting more weight on the dollar yen rate in terms of judging market stability than on other currencies
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
output in the energy sector rose four pct and mining output 10 pct
kollmorgen corp kol 3rd qtr net
theys said the plant would cost about 125 mln canadian dlrs with production beginning in 1991 if economic conditions are right
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
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
concern about the nics is not confined to the us a lot of korea and taiwans exports to the us have been at japans expense said richard koss at general motors corp
aristech chemical corp ars 3rd qtr net
but british officials are now trying to dampen anti japanese rhetoric to try to keep developments under control
beginning 1990 they were to receive semi annual interest payments at an annual rate of 16 pct
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
customs at kisumu take less than a day compared with two to three at the malaba rail border crossing a ugandan railways official said
wtc said its board concluded in view of the social political and economic situatin in south africa it was best to separate the company from its interests there
the fcc has approved the transaction but several parties have appealed
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 successful negotiations form an important piece in the mosaic christian roeher secretary general of the european chamber of commerce said
the us agriculture department forecast the soviet 1986 87 cotton crop at 1120 mln bales 480 lbs net vs 1120 mln bales forecast last month
shr 63 cts vs 64 cts net 2463214 vs 2509832 sales 344 mln vs 306 mln note backlog as of february 28 474 mln dlrs vs 349 mln dlrs a year before
in the year earlier period usage which includes hydrogenated vegetable and animal fats and other oils in process amounted to 314 mln lbs
zaire authorized to buy pl 480 rice usda
the contracts were set up to attract hedging from the rapidly growing underlying cash market in us treasury bonds in toyko but interest has waned as that market has grown more stable traders said
the official said the interagency meeting was called to discuss the general debt situation and compare notes on brazilian finance minister dilson funaro funaro who told reporters here that he wanted a political discussion with industrialized nations on brazils debt problems in an effort to obtain more and faster lending from official sources held discussions here on friday with volcker treasury secretary james baker and other officials
uk money market deficit revised downward
output in guangxi was 104 mln tonnes the new china news agency said without giving a year earlier figure
usair to buy 55 pct of 170 mln piedmont shares tendered
alex brown and sons inc co managed the deal
chicago mercantile exchange floor traders and commission house representatives are guesstimating todays hog slaughter at about 295000 to 308000 head versus 305000 week ago and 308000 a year ago
yugoslav 1990 steel output to hit 63 mln tonnes
previously it was expected the business would peak and decline at some point in the next five years
placer pacific says big bell gold study expanding
hawker siddeley group plc s offer of 74 dlrs a share for all of clarostat mfg co incs stock was scheduled to expire at 2400 est yesterday
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
mexico currently produces around five mln 60 kilo bags of coffee per year
cuhney
us latin nations delay decision on iadb
golden valley microwave gvmfo 3rd qtr net
the cpo market was lower in light trading with april traded between 74750 and 755 ringgit per tonne
eurodollar turnover during february was 140417 lots against januarys 100941 and the year ago figure of 81648
dutch salvage firm smit tak said it may take some three weeks to lift the swiss tug orinoko and its lighter pavo which sank 10 days ago at karlsruhe in west germany blocking the rhine river
federated department stores inc 4th qtr shr 364 dlrs vs 316 dlrs
in an interview with chairman g
taiwan issues more cds to curb money supply growth
brazilian coffee rainfall
two world bank review teams are in the philippines to assess government requests for funding for an expanded housing plan and an accelerated land reform program bank officials said
it said holders of 80 pct of the units may request one registration by the company kof the underlying common shares any time after jan 15 1988
satellite music network inc smni year net
but lyngs aide said that during a day long visit to capitol hill yesterday house members did not press the secretary on the subsidy question a single time
universal resources uvr to vote on merger
the lead manager is first boston corp and the co leaders are goldman sachs and co and merrill lynch capital markets she said
the complaint also alleges federal securities laws violations and breach of fiduciary duty
the surinam aluminum company suralco registered a 75 pct drop in alumina exports in february after its operations were shut down by worker violence and guerrilla sabotage the official surinam news agency sna reported
prior to this move innovex owned 79 pct of lucht the company said
the company declined to issue a statement the nyse said
the base lending rate for state bodies such as the japan development bank peoples finance corp and the finance corporations of local public enterprises usually moves in tandem with long term prime rates the sources said
the price paid for general tire would not cause us to reevaluate that estimate said tilden
jutland telephone issues 75 mln sfr 10 year bond
horizon bank said its board declared a three for two stock split payable april 21 to holders of record april seven
chrysler credit canada issues 75 mln can dlr bond
the adelaide steamship co ltd adsas adsteam said it will subscribe to 30 mln shares in listed british property developer markheath securities plc at 60p each subject to shareholder approval
maturities on the certificates will be between seven and 365 days
transco said each share of the preferred is convertible into 1263 common shares
the price of gold bullion and share prices of north american gold stocks are benefiting from continued weakness in the us dollar analysts said
us february consumer prices rose 04 pct after 07 pct rise in january
shr 142 dlrs vs 161 dlrs net 136 mln vs 155 mln note net asset value per share 7772 dlrs vs 5435 dlrs
july shipment thai raws traded to china early in the week at fob levels equivalent to 20 25 points discount to july new york futures it said
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
we do not consider we are at fault melnikov said
american electric aep unit sells bonds
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
conable said the bank must step in to help relieve the debt crisis which has prompted a number of us commercial banks to write off a portion of their third world loans
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
both properties located in southern utah consist of approximately 1430 acres of unpatented mining claims and one state lease it said
s p affirms banner bnr lowers rexnord rex 
baker noted that the j curve the delayed beneficial effect of a weakening of a currency on that countrys trade balance takes 12 to 18 months to work its way through to the trade deficit and it is now 18 months since the plaza agreement to lower the dollars value
economic spotlight ems marks eighth birthday
intermark imi seeks majority pier 1 pir stake
it can therefore use its funds to make acquisitions
indonesia has official and private overseas debts totalling 37 billion dlrs according to the bank which makes it the third worlds sixth biggest debtor
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
this compares with the banks forecast of a 400 mln stg shortfall today
ubs has become the second foreign firm to manage an issue in the domestic debt market this year following daiwa securities america inc
france has little room for manoeuvre oecd says
the funds will be used for sewerage and reclamation work
current profits of manufacturing industries in the fourth quarter dropped 137 pct to 2394 billion yen against a 221 pct fall in the preceding quarter the ministry said
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
the third 20 year tranche offers 65 pct interest in the first year but afterwards interest will be fixed annually at the average of secondary market rates
the shipment priced at 21034 us dlrs per tonne c and f taiwan is set for delivery between march 20 and april 5 he said
and a
the differentials could be reviewed at the request of a member country or recommendation of the buffer stock manager the delegates said
british farm minister attacks subsidies
santos ltd stoss said it had made a significant oil discovery at its mawson one well in the moomba block of the cooper basin south australia
dairy cattle reported for export under the program for the period april 1 through march 27 totaled an estimated 55055 head the department said
scallop petroleum corp a subsidiary of royal dutch shell group said today it raised contract prices for heavy fuel 25 cts to 175 dlrs a barrel effective today
years of continuous low prices have plunged the sugar industry in many countries in the region into a recession from which it will be hard to recover
only nine pct expect output to fall while 47 pct said production would likely remain unchanged
the imperial government of china issued bonds in 1911 to help construct a section of the so called hukuang railroad in an agreement with british german french and american banks
a drop in saudi arabian output to a tentatively forecast 33 bpd in march from 36 bpd in february was the largest factor behind the opec production decline the iea said
the figures for the same month last year were 314 mln and 2086 mln dlrs respectively
arden international aiki 2 larkville note 1985 period ended december 28 earnings exclude losses from discontinued operations of 30000 dlrs or one ct a share vs 71000 dlrs or three cts a share for the year earnings exclude gains from tax loss carryforwards of 13000 dlrs or one ct a share vs 45000 dlrs or two cts a share in the quarter and 28000 dlrs or one ct a share vs 105000 dlrs or four cts a share for the year
it said the offering will be underwritten by ryan beck and co west orange nj
the increase was due almost entirely to a sharp rise in the goods trade surplus to 1261 billion francs from 204 billion
key to this growth was the successful introduction of new products which were greatly enhanced by a number of consumer oriented us acquisitions van driel said
terms were not disclosed
bundesbanks schlesinger says no plan to cut discount rate nihon keizai newspaper
however the sources said brazil is unlikely even to consider exporting such quantities as this would almost inevitably lead to a fall in world prices as brazil tried to encroach on other producers markets
brooklyn union gas co bu sets payout
countrywide credit industries inc ccr 4th qtr
s and p cited industry overcapacity and weak pricing conditions in fluors core businesses
the raymond corp raym declares qtly div
pyro energy corp btu year net
earlier today the italian company postponed a scheduled press conference on its talks with antibioticos
the administration has proposed a goal of 700 million dlrs worth of strategic materials to be held in the stockpile
the somc said in recent months rapid money growth has been a principal cause of the devaluation
saudi arabia the worlds largest oil exporter will continue to restrain production as long as other opec members adhere to the pact nazer said
komatsu ltd komtt year 1986
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
effectively foreign companies would be paying the interest margin above libor
sperry marine has annual revenues of about 100 mln dlrs
what we want now is to kill it once and for all bennett added
before the rule change today the csce required two days of limit moves in the first three restricted contracts before expanding the daily trading limit
by segment spending at carbon products fell to 42 mln dlrs from 57 mln dlrs and spending fell at specialties and services to 126 mln dlrs from 143 mln dlrs
the convertible debentures may be exchanged for class a common stock at the holders option at 1125 dlrs
funds in investment trusts alone totalled 21918 billion yen up 374 pct from a year earlier
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
however when sufficient selling interest to break below chart support in the june contract failed to materialize participants who had sold bond futures early quickly covered short positions they said
the cash dividend is payable april 14 to holders of record march 30 and the stock dividend is payable april 17 to holders of record march 31
general cinema gcn sees flat 1987 net
shamrock said it had asked for certain information about holly sugars financial condition but had been turned down
the bank was also studying philippine proposals for loans to finance geothermal and education projects sources said
retaliation does not have to be matched product to product denman said
it would be profoundly undesirable and quite unjustified for iran to react in that way he said
but in a report last month the us embassy said the government appeared divided over how far to take its reforms
once the first tranche of its new six billion dlr loan is drawn down in the second quarter mexico will still only have enough reserves to pay for imports and debt service for four or five months gurria noted
bishop also said it has opened a new sales and service office in irvine calif
taiwan banks asked to take part in indonesia loan
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
comdata said the letter was in accordance with the previously announced terms with welsh carson
indonesian debt service ratio peaks minister says
plenum publishing corp plen said it filed with the securities and exchange commission a registration covering the planned offering of 50 mln dlrs principal amount of convertible subordinated debentures due april 15 2007
much of mpts new prominence stems from the growth of the sector it regulates
non consolidated net profit 346 billion francs vs 305 billion
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
rep
nz money supply rises 24 pct in january
figures released yesterday show all forms of savings by individuals and public and private firms including bank deposits certificates of deposits and bonds are running at about 37 pct of gross national product gnp gnp rose by 1435 pct in 1986 to 274 trillion dlrs
by failing to disclose that they are acting together the market is unware of the amount of stock of a company that is controlled by a group acting in concert
taiwan introduced a sweeping tariff cut on some 1700 foreign products last january aimed at helping reduce its growing trade surplus with the united states the islands largest trading partner
gold production to start at ketza river
representatives of us sugar grower organizations said they expect some increase the area planted to sugarbeets this year and said the prospects for the 1987 cane sugar crop also are good
us single family home sales fell 68 pct in jan after revised 121 pct dec gain
the duty for research remains at 385 cents per kilo and the replanting duty is also unchanged at 992 cents
but it has asked congress to give it authority to finance its one third share in the event agreement on voting power is reached
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
cut were the companys senior debt to aa minus from aa and subordinated debt to a plus from aa minus
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
he said the effect of lower inflation and financial deregulation on monetary aggregates was now largely finished
equipment co of america ecoa 4th qtr net
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
the trust had paid a 12th liquidating distribution on january 15 amounting to 1750 dlrs on series a 1815 dlrs on series b and 1765 dlrs on series c certificates
dealers noted mild short covering in the metal after some initial selling by local investors
usx x debt dowgraded by moodys
in the netherlands the inflation outlook for 1987 is nil or even negative while the latest official economic forecasts point to a falling rate of economic growth
the notes will be listed on the new york stock exchange
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
southam unit acquires winnipeg community papers
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
computer microfilm comi sees higher 1987 net
the group includes senior management of service america but no officers of allegheny beverage the company said
nicholas declined to give any details but said an announcement might be ready in a few days
anything above 20 pct is considered high by bankers
canada december gdp up 12 pct after novembers 02 pct fall official
conclusion of the agreement is subject to completion of further detailed examination by degussa as well as board and regulatory approvals
as you know theres been 85 billion dlrs in new money said the official who plays a key role in keeping the plan afloat
decision also said it entered into an agreement to sell its international computerized telemarketing inc subsidiary to an investor group headed by the units senior management
the new advances for the period march 25 to april 4 replace current 53 pct five day advances totalling 4003 billion guilders which expire today
the company said each unit of securities would consist of 125 common shares in the new company and three dlrs principal amount of the new companys 11 pct subordinated debentures due 1997
mrs fields plans to open more stores
bankers remain hopeful that an agreement can be reached by the middle of the month
keating sees lower australian current deficit
shr 30 cts vs 53 cts net 868000 vs 728000 revs 7300000 vs 6500000 avg shrs 3000000 vs 750000
uk may adjusted unemployment falls record 64300 to 295 mln or 106 pct official
the bank said it approved 517 mln for an agricultural inputs program for bangladesh aimed at sustaining foodgrain production
maverick restaurant corp mavr 4th qtr loss
datrons officers hold about 73 pct of the total 896000 datron common shares outstanding
margoshes said he does not foresee major us oil firms falling into takeover situations for several years with the exception of possibly amerada hess corp ahc he said most of the majors found partners in the last round of matchmaking which ended two years ago and others restructured to the point that they have become unattractive
in a weekend television interview us treasury secretary james baker sharply criticised a recent rise in west german money market rates and said the eight month old louvre pact to foster exchange rate stability needs to be reviewed
growth was highest in portugal at five pct while in greece output contracted by 03 pct eurostat said in a statement
chemicals and plastics had fourth quarter operating profit of 122 mln dlrs compared to a year ago loss of 49 mln dlrs
the united auto workers uaw union said it supports chrysler corps proposal to buy american motors corp as creating a good match that potentially points the way to a more secure future for workers at both companies we believe our members interests can be well served within the chrysler family and we are committed to making that happen uaw president owen bieber and vice president marc stepp said in a statement
as of october 31 the copmpany said it had a working capital deficit of 2301000 dlrs on a pro forma basis to include recently acquired us medical enterprises inc
czarnikow expects lower european sugar output
1987 3rd qtr and nine mths net includes a loss of 220 mln dlrs or 79 cts a share for discontinued operations and 70 mln dlrs or 25 cts a share for extraordinary gain
chairman s
oil at 18 dlrs a barrel brings much more confidence than 10 dlrs a barrel he said
terms were not disclosed
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
tennant co tanto 3rd qtr net
ccf one of the top seven banks is also being sold by the government this year
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
it will be subject to approval by the board and series c preferred shareholders
oper net 944 mln vs 741 mln revs 13 bilion vs 12 billion note thl is parent to scoa industries inc acquired in a leveraged buyout in december 1985
staffan paues president of the new brussels based joint venture company diamant boart stratabit sa dbs told a news conference that the merged firm would be able to offer products for all types of drilling operations
the country was pumping between 245000 bpd and 250000 bpd before the tremor
the companys uk based gallaher ltd unit had a strong performance in 1986 and became the second largest contributor to operating earnings american brands said
encor energy corp inc yr net loss 4066 mln vs profit 354 mln
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
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
however the situation in wheat is a different story he said
the queensland press ltd qpl board said it unanimously recommended the one billion dlr takeover bid by cruden investments pty ltd a family company of news corp ltd ncpas chief executive rupert murdoch
despite the rising tempers bankers said there are no plans for brazilian finance minister dilson funaro to meet commercial bankers during his trip to washington on friday and saturday
qtly div 12 cts vs 10 cts prior pay april 24 record april one
smith kline also said its small clinical laboratory testing unit with 1986 sales of 373 mln dlrs performs 24 mln tests a year and sees increases in employee drug testing as well as in testing for the aids antibody
homestead financial hfl ups cash dividend
the group of investors include affiliates of radix organization inc the company said
the company said the dividend is payable march 31 to holders of record march 17
the only us dollar deal launched during the day was as has been the case recently equity linked
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
duncan squire of lloyds merchant bank said the figures were slightly disappointing in that the strengthening of sterling had not yet reduced input prices as much as expected
federal funds were trading at 6 3 16 pct when the fed announced the operation
tehran radio monitored by the british broadcasting corp quoted mousavi as saying that tehran officially announced after its forces overran southern iraqs faw peninsula in february last year that it had shore to sea missiles
one of the rival firms international telecom japan inc itj has offered a stake in the company to eight us firms including general electric co ge ford motor co f and citibank na cci and two european companies itj president nobuo ito said yesterday
the issue is available in denominations of 1000 and 10000 australian dlrs and will be listed in luxembourg
the plan along with a proposal to change its name to cooper cos inc will be submitted for shareholders approval at the companys annual meeting on june 22
taft did not indicate the size of the gain if any it would post on the sale
the department of transportation had asked parties to submit statements by june 17 either supporting or opposing the acquisition
the usda secretary met this morning with members of the house foreign affairs committee but the handful of lawmakers present did not ask whether the administration intended to offer moscow a wheat export bonus the aide said
keycorp said this gives the transaction an indicated value of 102 mln dlrs
s p affirms ratings on atts seven billion dlrs of debt
we told them we wish to pay but that first we must make sure that the country grows gros said
universal foods corp ufc votes dividend
he said banks had insisted on a formal declaration that fecsa was suspending principal repayments before discussing a renegotiation of its debts
prices had also been forced down because refineries were using up old stock he said
in its fiscal year recently ended marcade said the company to be acquired which owns five us manufacturing facilities and one offshore had revenues of over 60 mln dlrs and pretax earnings of about four mln dlrs
arango did not want to commit himself on export predictions but said that output for the 1986 87 coffee year would not exceed 105 mln bags compared with 12 mln forecast by the national coffee growers federation and 125 mln by the us department of agriculture a figure he said was ridiculous he said ageing plantations and rust in particular in the number one producing province of antioquia meant output was likely to fall but that nationwide estimates were rare and oscillated between 95 mln and 115 mln bags
citizens will pay a premium of 30000 dlrs to the fdic and purchase beaver creeks assets for 53 mln dlrs
major realty corp majr 4th qtr loss
voplex corp vot 3rd qtr loss
it hit a new record low of 14820 yen yesterday
payment date is april 1 listing is in luxembourg and denominations are of 1000 and 10000 dlrs
other food samples sent for testing at cologne university including honey fruit vegetables pork milk and butter were found to be free of radiation it said
he did not give a specific earnings projection but he told reporters the firm will pay total dividends of not less than 19 cents a share this year after a one for four bonus issue and a four for one stock split
backlog 130 mln dlrs vs 3733000 dlrs
the dollar has eased this week but remains stable at around 15150 yen
the meeting was originally convened on june four when shareholders approved the sale of becors western gear corp subsidiary before adjourning
us consumer prices as measured by the consumer price index for all urban consumers cpi u rose a seasonally adjusted 04 pct in february after a 07 pct january gain the labor department said
in a filing with the federal energy regulatory commission trunkline said it is reducing its commodity rate the portion of the total rate based on the price of gas to 258 dlrs per mln btu from 269 dlrs per mln btu
penobscot shoe co pso 1st qtr feb 27 net
corrects company name gghf in first paragraph
pittston said wtcs three principal shareholders who own 62 pct of its stock are parties to this agreement
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
they also share responsibility for finding lasting solutions local officials have payed great importance to weizsaeckers visit because they consider him a key backer of more flexible repayment terms for argentinas 51 billion dlr foreign debt latin americas third largest
outboard which has 17 mln shares outstanding is in registration for a two mln common share offering with morgan stanley inc
he said governments must retain flexibility in dealing with exchange market pressures and efforts to establish rigid exchange rate objectives or to specify too precisely the goals of intervention would hurt official attempts to react to market pressures he said
we affirm the sovereignty of our economic decisions and the capacity for mobilising our own resources it said
payment is april 10
growth in oecd countries is expected to come primarily from transport fuels as was the case in 1986
shr loss two cts vs loss two cts net loss 183597 vs loss 136990 rev 36600 vs 61763 avg shares 12355000 vs 9205000 year shr loss five cts vs loss five cts net loss 571336 vs loss 416595 rev 103327 vs 61763 avg shares 12355000 vs 8705000 note companys full name is teletrak advanced technology systems inc and it is a unit of helm resources lth 1985 net loss includes loss from discontinued operations of 278156 dlrs
china trade deficit falls in january
rank xerox south africa was founded in 1964 as a wholly owned unit of rank xerox the xerox affiliate that manufactures and markets xerox products in the eastern hemisphere
he declined comment on local press reports which said the ministry would back a plan aimed at cooling british anger on the issue
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
the non callable bond is available in denominations of one mln yen and will be listed in luxembourg
this report was commissioned late last year to report on the administrative structure of the ico
the ico executive board meets here march 30 to april 1 but both producer and consumer delegates said they doubt if real negotiations will begin then
analysts said they believed the reserve bank had worked successfully in recent months to keep the australian dollar within the range of 100 to 103 yen
the unadjusted figure stood at 708700 at the end of last month a decline of 3800 from the january total of 712500 and comparing with 750000 at the end of february last year
noranda inc said it began salvage operations at its murdochville quebec mine where a fire last week killed one miner and caused 10 mln dlrs in damage
canada plans three part one billion dlr bond issue tuesday official
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
consumers are asking that in these circumstances the adjustment be automatic at five pct or more
but they said recent central bank intervention in the foreign exchange markets appeared to be a limited reaction to temporary pressures rather than a major defence operation
becor bcw to adjourn delayed holders meeting
status game corp stgm 3rd qtr feb 28 net
the real issue is xenophobia in the us silicon valley said tom murtha of brokerage james capel and co
the federal reserve is expected to enter the government securities market to supply reserves to the banking system via system repurchase agreements economists said
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
gross domestic product is expected to grow by 44 pct in the year ending june 30 finance minister mohammad syeduzzaman told reporters
last years high surplus was attributed to cheaper oil and raw materials lower world interest rates and a weaker dollar
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
reagan renews anti protectionism stand white house says trade war unlikely
swedens national debt office said it was issuing a four billion crown seven year domestic government bond with a coupon of 1075 pct
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
one official who asked to remain anonymous told a draft agreement would reduce to zero from two pct future interest payable on the 10 year old debt and set a 25 year repayment term
government and commodity sources also said there are elements in the usda most notably undersecretary daniel amstutz who remain opposed to a wheat subsidy to the soviets
the issuer has an option to increase the sinker by 200 pct giving the debentures an estimated average life of 215 years salomon said
the company said it will pay second quarter accrued dividends to the redemption date of 53 cts per share on the 640 pct stock 56 cts on 684 pct and 70 cts on 848 pct
caution was also evident in the philippine camp
it said results would be hurt by a 25 mln dlr one time charge by caterpillar mitsubishi a 50 pct owned affiliate
the official also said that he expected trade issues like the dispute between the us and japan over microchips to be included in the discussions
a subcommittee is considering what the japanese economy might look like in the medium to longer term after it undergoes massive restructuring officials said
mercury savings and loan msl 3rd qtr loss
a twa spokesman said the company has filed an application for approval on its offer to buy usair with the department of transportation and later today it will file a response to usairs motion with the dot to dismiss the twa application
hundreds of marines were on alert at 11 key brazilian ports after 40000 seamen decided to remain on indefinite strike even after the higher labour court saturday ruled it illegal union leaders said
encor plans 125 mln dlr debenture offering
buenos aires maize 104304 wheat 14330
china welcomes us court bond decision
however since the end of january it has been revalued to a fixed rate of nine per dollar
the long term capital account surplus was 198 mln dlrs in february against 211 mln in january and 55 mln in february last year
caesars world caw rejects sosnoffs offer
last month the company said it expected net profit to fall below 70 mln marks this year from 753 mln marks in 1985 86
wang was the most actively traded stock on the american stock exchange rising 3 4 to 16 5 8
houston oil royalty trust rth distribution
reichhold chemicals inc said its reichhold ltd subsidiary has raised prices seven us cent per pound on powdered phenolic waferboard resins effective july 1 due to sharp increases in the cost of phenol
december also was revised to a 24 pct rise from an earlier 23 pct rise due to a change in outstanding credit
the 1986 year net reflects 512 mln dlr gain from cumulative effect of accounting change
investors are hungry for high grade debt issued by household names agreed one corporate bond trader
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
the program is for an unspecified amount and is guaranteed by the parent basf ag
dean also said the company will benefit from its acquisition in late december of elgin blenders inc west chicago
it said that in addition to common stock sage equities will receive 667667 warrants exercisable at 150 dlrs a share
the authorities ordered government offices closed until wednesday
analysts said an official rate cut could trigger a buying spree on the bond market which would bring yields down probably only temporarily while money rates could fall below five pct
in the same period incoming orders rose five pct to 218 billion marks against the same 1985 86 period
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
murphy oil corp mur sets regular dividend
he said a merger would significantly enhance the financial turnaround that purolators management had previously forecast
bank of japan re enters market and steps up dollar buying dealers say
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
corrected goodyear gt to sell celeron
corrects march 17 item to show losses instead of profits
first union corp said it has filed with the securities and exchange commission for a proposed offering of 100 mln dlrs of fixed rate subordinated notes due 1997
they stand at 10 pct now and foreign exchange dealers and analysts expect them to shed another half point in the coming week
cronus industries inc crns sells unit
its not going to solve all of first citys problems but its a good transaction for them
he cited a sharp drop in non earning assets healthy asset growth and lower expenses
commitments for foreign loans and grants total more than five billion dlrs in 1986 87 against 354 billion five years previously he said
kaneb energy partners ltd kep 4th qtr loss
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
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
de zeeuw was told of the us lawmakers frustration with japans restrictive rice import policy and members defended the us dairy policy which aims to cut surplus production by subsidizing producers to trim herds sources said
yesterday 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
the new bond is due march 5 1992
president kenneth kaunda tried to abolish maize subsidies last december in line with imf recommendations but the move caused maize meal prices to double overnight and led to riots in which 15 people were killed
newport corp nesp 2nd qtr jan 31 net
net includes writedown of oil and gas assets of 1248 mln dlrs for 11 mths to comply with full cost accounting methods
carney said the fourth principle was that countries should not introduce new import barriers not mandated by existing legislation and the fifth was that these basic principles must be implemented collectively
kay also said it is pursuing private placement of debt securities for a number of corporate purposes
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
i think there is room for negotiations and i would not want to make any predictions at this stage de keersmaeker said
last year republic was acquired by reph in a leveraged buyout transaction led by dr
it simply does not want to take the risk said one local banker
versatile corp said it agreed in principle to sell its alberta based versatile noble cultivators co division to vicon inc of ontario for undisclosed terms
comdata said in the merger each share of the companys stock would be converted at the holders election into either 15 dlrs in cash or a combination of 10 dlrs in cash and a unit of securities including common stock
sheppard chief operating officer
in some cases these will be securities related in some cases trust bank related
washington scientific wscio 2nd qtr net
nine months 1987 includes extraordinary gain of two cts per share
but the senior official played down those expectations
arco arc says net to cover dividend payout
statoil said aker verdal a unit of aker norcem a s amvool won a 300 mln crown contract to design and build the well head platforms 10000 tonne steel substructure to stand in 150 metres of water next to the converted rig
it would also be a further step in commerzbanks full entry into global investment banking around the clock
duff and phelps said the utilitys debt ratings were lowered because of the recent negative rate order for its hope creel nuclear plants
an additional 315500 tonnes of wheat are still available to west african countries under the export enhancement program initiative announced october 30 1986 it said
avaq said it made the statement in response to an offer by interconnect capital corp for all of gates learjet shares after what it believed to be an agreement by gates to accept its offer
the government said the strike was designed to cause it embarrassment during the four day visit of west german president richard von weizsaecker which starts on friday
the cacex director said he expected the countrys trade surplus to average 800 mln dlrs in the remaining three months of the year estimating the years overall surplus to reach 102 billion dlrs from 256 billion dlrs worth of exports and 154 billion dlrs of imports
the shortfall could reach two billion dollars in 1988 and would be only slightly less this year he said
but the new market is unlikely to attract many overseas investors particularly as non residents will be subject to a withholding tax on interest earned loh hoon sun general manager of overseas union bank ltd said
the accord stipulated that current rates reflect fundamentals of the six nations britain canada france japan the us and west germany
conable said the country may be able to get away with not going to the imf for help but will need an imf type economic program if it wants to regain the confidence of lenders
the study by paul wonnacott said a successful conclusion to the free trade talks now under way could raise canadas gross national product by more than five pct and expand us exports by about seven pct
donaldson bramham lee an investor from birmingham alabama said he raised his stake in penobscot shoe co to 40500 shares or 66 pct of the total outstanding common stock from 33500 shares or 55 pct
how are you going to stop the tide he said referring to demands that would follow from other commodity groups
he said the latest employment report will not concern the fed because it does points to gnp growth in the first half of 25 30 pct but it does suggest they cant afford to tighten to quickly either the statistical factors used to smooth out seasonal fluctuations in the jobs data may have understated march labor force gains just as seasonal factors probably overstated them in january and february slifer said but are consistent with his forecast of 18 pct first quarter gnp growth
president reagan preparing to depart for the venice economic summit on wednesday said the united states and its allies must fulfill agreements on exchange rate stability
api says us crude oil ouput off from year ago
we have always been a wholesale bank but we have more than one million customers all over the state
rowley scher did not disclose details of the sale of mid south repro
taken together the four american led warrant issues raised only about 50 mln swiss francs
both companies said they support the agreement and believe it to be fair to both sides
scimed said the suit is without merit and it has turned the matter over to its attorneys
it is currently transporting about 17000 bpd out of its 100000 bpd capacity an ecuadorean energy ministry official 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
by striking accrued but unpaid interest from their accounts earlier than necessary the banks are signalling to brazil their readiness to dig in for a long fight over the terms of the rescheduling agreement regardless of the short term earnings impact banking analysts said
latest year net includes gain 418000 dlrs for first nine months from change in pension accounting for which results of first three periods restated
great american said it paid about 61 mln dlrs for its 462400 atcor shares
century ccco to buy to puerto rican co
aquino said the countrys foreign debt which rose to nearly 29 billion dlrs in april was growing even without fresh borrowing
zimbabwes grain marketing board has banned the packing of oilseeds in locally made polypropylene bags and will supply jute bags instead board officials said
the company reported earnings for the year ended january 25 of 617000 dlrsl up from 112000 dlrs a year before on sales of 313 mln dlrs up from 114 mln dlrs
there was no sign of any origin activity
but rule said that for airline companies a purchaser would be exempt from the requirement if it instead had filed a merger application with the us department of transportation
he said the companys 50 pct unit hongkong united dockyard ltd is negotiating with the government for the development of an existing petroleum storage depot into a major housing estate
citizens and southern corp csouo 3rd qtr net
thunander corp thdr year net
divisions began to show last december when a wave of strikes led by transport workers paralysed the country and drove the government into a new mood of conciliation with labour
corby distilleries ltd to buy heubleins mcginness distillers for 45 mln canadian dlrs
the tanzanian government in its second annual budget since embarking on an economic recovery program inspired by the international monetary fund announced increases in fuel prices and sales tax and higher levies on government services
standard and poors defines the aa category as only slightly different from the top aaa rating simonsen said in a statement
seger told the savings and loan executives that she was concerned about financial markets absorption with exchange rate influences
given the state of the water i fear there is no hope townsend thorensen owners of the 7951 tonne herald of free enterprise said the ferry was carrying 543 people and that 345 had been rescued
the commission said it suspected the shares were actually controlled by eduardo cojuangco an associate of former president ferdinand marcos
advocates of a 0 92 plan for feedgrains will likely delay offering their proposals if a disaster aid bill before the house agriculture committee is scaled back to include only 1987 winter wheat congressional sources said
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
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
sears roebuck s march retail sales up
another 12 ships should arrive to load 344000 tonnes of cereals by the end of the week
a wendys spokesman said it was corporate policy not to comment on market rumors
subscriptions close april 14 and payment date is april 16
it was a departure from the previous practice of announcing trade policies for a single fiscal year and haq said it would enable the businessmen to plan their market strategies over a longer period
the company also plans to issue participation certificates with a par value of 70 mln swiss francs from which existing shareholders are excluded
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
as well as cuts of over two pct in common prices for most cereals the commission proposes a limitation of intervention to the february to march period and reduced monthly increments in intervention prices
shr 30 cts vs 30 cts net 1804000 vs 1800000 nine mths shr 89 cts vs 79 cts net 5334000 vs 4496000
porsche expects improvement in us sales
1986
this point has been made to the japanese at official level a number times the official added
the january index compared with a year earlier was down 11 pct the first drop larger than 10 pct since it fell 13 pct in september 1958
sweden announced tax increases on petrol and heating oil from july 1 1987 to help finance a 17 pct rise in defence spending over the next five years
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
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
we have always been amenable to try as far as we can to assure that the two aluminum smelters remain viable he said
the bill would direct treasury secretary james baker to discuss with debt ridden developing countries the possibility of the us setting up a public debt management agency that would purchase their debt at a discount and negotiate the restructuring of the debt
henry schroder bank said
these factors helped italy cut inflation to an average 63 pct in 1986 down from 93 pct in 1985
sterivet laboratories ltd said it authorized a three for one split of its common stock
they would then stock it up at the next tender when the need is clearer he added
utilities investment inc said it still is offering to acquire pennsylvania enterprises inc for 55 dlrs per share
last week he said the auction had run into trouble because of a shortage of foreign exchange
some have suggested that the system might benefit from a formal approach that mandates intervention by countries when currencies wander above or below agreed to levels but there are major problems with this also
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
the fourth quarter resulted in a net loss of 227000 or four cts compared to a loss of 330000 or six cts a shares last year
istat said in a statement that gdp growth in fourth quarter 1986 was zero compared with the preceding quarter
seaxe is involved in oil and natural gas exploration and development in the paris basin of france
although lopez has not joined the fast union sources said its unlikely he would attend the dinner
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 saudi arabia was a main architect of december pact under which opec agreed to cut its total oil output ceiling by 725 pct and return to fixed prices of around 18 dollars a barrel
artra group inc ata 4th qtr oper loss
as with the proceeds from the earlier limited partnership the money will be used for general corporate needs the spokesman said
this is in accordance with its normal policy
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
as previously disclosed henley made necessary filings under the hart scott rodino antitrust improvement acts to permit henley to increase its investment in sante fe to 249 pct of the outstanding common stock from 503 pct
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
net borrowings averaged 425 mln dlrs in the first week of the period
the central bank bought in band one 60 mln stg at 9 7 8 in band two eight mln at 9 13 16 in band three 26 mln at 9 3 4 and in band four nine mln stg at 9 11 16 pct
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
the two companies proposed a five for one share split
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
only about 10 vessels are being delayed but the bans will affect container terminal movements and will disrupt liner schedules they said
kistler said the the government had also indicated it would consider granting if necessary an additional three month extension to complete the sale
kuwait is also looking at flagging out to european registries the officials said
japan is seeking to prevent its computer chips dispute with the us from erupting into a full scale trade war government officials said
volt information sciences inc volt 1st qtr
hong kong m3 rises 22 pct in january
honeywell will retain a 425 pct interest in honeywell bull and bull will own an equal amount
bank of america sees slow us consumer spending
qtly div 45 cts vs 44 cts prior pay may one record april 10
taiwans trade surplus with the us widened in the first two months of this year to 235 billion dlrs from 187 billion dlrs in the same period last year
tenera ltd tlpzzo 3rd qtr net
the seamen have settled for 120 pct pay increases with the individual companies but are still discussing the issue of overtime payments with the shipowners association syndarma
if the flow of funds dries up a country like brazil cant meet all its obligations he said
he told al riyadh newspaper saudi arabia follows a balanced petroleum policy
the cuts follow a similar move by national westminster bank plc nwbll the rate changes take effect tomorrow
denominations are 10 mln yen
the bank of japan is continuing to intervene in the tokyo market buying small amounts of dollars to hold the unit above 149 yen brokers said
gmacs mangan said his firm also wanted to sell securities that were aimed at the retail sector
pizza inn has retained dean witter reynolds inc to act as its financial advisor panteras said
he said further loans would depend on the economic policies indonesia adopted
britain and australia have offered a total of 129250 tonnes of wheat to bangladesh as grants to contain rising cereal prices and help support rural employment projects officials said
a spokeswoman for the ec commission said ec external trade commissioner willy de clercq had written to his us counterpart special us trade representative clayton yeutter outlining the concerns of the 12 nation community
the management plan would result in a balance sheet with about 25 billion dlrs in debt and nearly 500 mln dlrs in preferred stock convertible into 45 pct of the common stock
sanivan is the largest hazardous waste management company in canada
sebaana kizito said at the time that the payments squeeze would be resolved in two weeks
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
adrian lajous pemex executive vice president of international trade said current opec output already appeared to be very near the 166 mln barrel per day level it set itself for the third quarter
mercury entertainment corp mcry year nov 30
credits made by foreign companies or banks to subsidiaries which have their legal base in italy will also be excluded from the conditions
bayou international buys stake in solomecs
however for some 10 pct of new requirements the bank would try out new instruments such as bonds with warrants
any unilateral us moves would leave the ec no option but to react according to the laws of the general agreement on tariffs and trade it said
kim told reporters the excessively fast rise in exports could make south korea too reliant on exports increase 27nflation and produce trade friction
s and p said recent sales of non regulated oil and gas coal fertilizer and telecommunications assets significantly reduce business risk
finance minister edouard balladur said he was maintaining his 25 pct inflation target for 1987 after the announcement earlier today of a 34 pct year on year rise in retail prices for february
indias state owned national thermal power corp ltd signed a 1691 mln mark italian buyers credit bankers trust co a joint lead manager said
demand for opec crude in the final quarter of 1987 was 185 mln barrels per day bpd and the groups members were now pumping above 18 mln bpd he told a news conference
sales and operating revenue fell to 31 billion stg from 42 billion on a replacement cost basis
ended march 1 shr 34 cts vs 27 cts net 2405000 vs 1908000 revs 335 mln vs 326 mln avg shrs 7114000 vs 7075000
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
robert halmi rhi gets five mln dlr credit line
researchers say the fungus could spread to other rubber clones if no immediate action is taken
there is a good chance that a majority government could result from early elections confederation of portuguese industry cip president pedro ferraz da costa said
general electric also attibuted continued strong performances in plastics major appliances and the employers reinsurance corp for its strong quarter
michaels stores mke march sales rise
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
portuguese consumer prices up 14 pct in march
if they had to nudge policy tighter they could do so but its most likely theyll sit and wait the data have not been uniform stone added
the average dealer had 17 employees and sold 738000 dlrs worth of vehicles according to the national automobile dealers association
as a result banks were being offered lead manager status at 200 mln dlrs co lead management at 125 mln and manager at 75 mln
analysts have said the fact that american motors stock has remained above the four dlrs a share chrysler offer could lead the larger company to raise its bid
ida said the credit supports a 7 year program to plan implement and monitor improved operation of selected projects
resers fine foods inc to go private
fairchild semiconductor corp president donald brooks said he intends to take a management buyout proposal to the companys parent at some point in the future and substantial funding is available for such a purchase
yang said investment in agriculture fell in 1985 to 99 pct of the provinces total investment from 26 pct in 1978
this plan actively under consideration would differ slightly from the one the official described
since then there has been no new issues for nearly two weeks until china development finance co hk ltd cdfc a unit of the bank of china launched the five year deal at 705 pct with quarterly interest payment in mid afternoon today
matsushita to issue 200 billion yen convertible
comdata said it has not yet reached a definitive agreement with mason best co for the previously announced recapitalization and self tender offer
garcia said the government would soon install a two mln dlr treatment plant at tomaque
live hogs were pressured early by the agriculture departments report tuesday that producers expanded their breeding herds more than the market expected last quarter
the conversion premium is indicated to be 20 to 23 pct
world group turnover in heavy plant construction rose 74 pct to 777 mln marks but incoming orders dropped 57 pct to 739 mln marks in the wake of the dollar and oil price plunge
the company said the proceeds from both sales will be roughly equal to the 3330000 dlrs it originally invested in united coasts in late 1985 even though it will retain a 199 pct stake
one major french bank said it bought 10 mln dlrs for the central bank selling yen within a trading range of 14820 30 yen to the dollar compared with yesterdays 14928 rate at which intervention was carried out here
hikmat nashashibi told a news conference at the end of an arab currency traders meeting we have to start with coordination of fiscal policies as a prerequisite for a common system of currencies there is quite a substantial way to go yet he said only then would a unified gulf currency system be a plausible project
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
foreign business and securities trading turnover also increased
the rebate at last weeks tender was 13 ecus short of the level producers thought necessary and that of the previous week was 25 ecus below this level
net commission income rose 66 mln to 1567 mln luckey said
alcan aluminium ltd
us british proposals include a complicated series of formulae for assessing the stream of payments involved in swaps whose ultimate risk is borne by the financial intermediary especially when counterparties remain anonymous
royal resources also said the sale of its interest in two gold properties the colosseum mine in san bernardino county calif and the camp bird mine near ouray colo
state owned bank of china has bought a three to five pct share of baii holding sa a financial institution registered in luxembourg the china daily business weekly said
the increase in reserves the dividend cut and continued management cost cutting are aimed at ensuring that mellon has the financial strength to deal with current uncertainties barnes said
bonus reg may 6
equitable resources inc eqt in regular payout
4 nuclear power plants in the pacific northwest at the time it was selling the bonds
national distillers dr closes almaden sale
more pressure urged for asia to take us beef
shr profit one cent vs loss 29 cts net profit 116000 vs loss 4195000 revs 202 mln vs 6393000
bahrains issue of two mln dinars worth of 91 day treasury bills was allotted at an average price of 98506 to yield an average 600 pct a spokesman for the bahrain monetary agency bma said
the new york times quoted baldrige as saying the time had come to limit takeovers in security sensitive areas
general partners in gencorp gy proxy fight
stoltenberg told the diht that his meeting on monday with baker had resolved differences between the two countries
uk authorities have lost patience with japanese trading practices and said they are seeking ways to retaliate without unleashing a damaging trade war
the payment date is june 1
under the agreement twa which holds about 15 pct of usair stock will not buy more usair shares before april 23 and will not do so after that date without giving 14 days notice to usair
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
perus biggest state mining firm centromin sa said today there was no immediate force majeure possibility on its copper shipments after guerrillas blew up a railway line interrupting train traffic from the cobriza copper mine to the pacific coast
the gazetted price effective march 1 rose to 213 1 2 cents per kilo from februarys 207
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
tanghe said the proposed system conforms with general agreement on tariffs and trade gatt rules
the new york mercantile exchange set april one for the debut of a new procedure in the energy complex that will increase the use of energy futures worldwide
ponce federal bank fsb pfbs raises dividend
dor val said this find and other recent ones will make substantial contributions to the mines ore reserves and grade
the lawsuit seeks one billion dlrs in actual damages and one billion in punitive damages from coastal
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 bonn government will be in a very weak position in venice because they cant risk increasing the deficit further said schroeder muenchmeyer hengsts hutmann
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
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
partly offsetting these outflows exchequer transactions will add some 690 mln stg to the system today
as part of sale eskey said the buyers will assume the 145 mln dlrs of publicly held eskey 10 3 4 pct debentures due 2003
he said this was a major improvement and a step in the right direction and added us allies look very strongly to a us budget deficit cut
the coal comes from the emerald mine in southwestern pennsylvania
the pillsbury co said it filed a registration statement with the securities and exchange commission for the sale of limited partnership interests in a second master limited partnership of its burger king units restaurant properties
there is little chance soviet exports to the united states will rise in 1987 but moscows current trade reforms should result in more trade in manufactured goods in future a soviet economist said
alcoa declines specific comment on options trade
shipment will be from the gulf or great lakes if us origin they said
it was not immediately clear when the sale was made or at what price
adsteam to acquire 49 pct of uk property company
usda likely will allow historic oats farmers to plant oats but not extend the exemption to all farmers lyngs aide said
in february usair had offered to pay 71 dlrs per share in cash for 50 pct of piedmonts stock and 155 to 190 usair shares for each remaining piedmont share
the company reported first quarter earnings of 1328000 dlrs up from 344000 dlrs a year before on sales of 230 mln dlrs up from 123 mln dlrs
we are seeing from singapore and from japan clients keen to use up their quotas for purchase of particular instruments before the end of the fiscal year the senior trader added
photronics corp photo 1st half aug 31 net
a foreign ministry official told japan has done what it can and now we must persuade the united states to wait for those steps to take effect the us alleges that in defiance of the september agreement japan is still selling microchips at below cost in non us markets and refusing to open japan further to us chip sales
steel stocks which have had a healthy runup recently still present some short term investment opportunities according to some steel analysts
shr 13 cts vs 5 cts net 5568319 vs 2968437 rev 365 mln vs 340 mln 12 months shr 160 dlrs vs 179 dlrs net 72865101 vs 85198853 rev 5213 mln vs 4203 mln note twelve months includes the cumulative effect of a change in accounting methods for accruing unbilled revenues of 114 mln dlrs or 28 cts per share
but ec agriculture commissioner frans andriessen told journalists he had warned ministers that failure to agree the tax proposed last month as part of the commissions annual farm price package would leave a large hole in the groups budget
maxtor said the purchase reflects its desire to compete in the high capacity segment of the pc market
the inflation rate of one pct also gave no occasion for higher nominal interest rates
spendthrift farm sfi to miss note payment
but the underlying rise was 775 pct up 025 pct from march and back to the same level seen late last year
realmerica co raco year nov 30 net
alaska air group inc alk qtly dividend
the notes have an 8 3 8 pct coupon and were priced at 9983 to yield 86 basis points over comparable treasury securities
first chicago fnb raises prime rate
the buffer stock working group of consumers and producers was set to meet later today to debate the proposal jointly for the first time they said
denmark is issuing a 200 mln ecu eurobond due april 23 1992 paying 7 1 4 pct and priced at 101 3 8 pct lead manager morgan stanley international said
royal said the shares issued in the deal will be subject to registration rights
we do not have anything actively under consideration he said
the breakdown was as follows in tonnes cotton 3002 6234 sunflower 86612 38347 linseed 23954 38290 groundnutseed nil nil soybean 264650 104571 bran polards wheat 37724 49946 fiber cotton 987 2121 wheat flour 1826 18335 rapeseed nil nil the board said
foster said certain stearn officers and senior management made stearns operations appear more profitable than they were by improperly recording job costs
one miner was killed and 56 others were trapped underground for about 24 hours before being brought safely out
belgium revises down 1987 gnp growth forecasts
indonesia has issued licences to traders to import palm oil to avert a possible shortage of cooking oil during the moslem fasting month of ramadan in may trade minister rachmat saleh told 
hecla said it estimates its total investment in the project including its share of production costs will be about 45 mln dlrs
reid ashman reas to divest test product unit
amsterdam is the third dutch municipality to use a commercial paper program as credit facility
city of bergen launches 80 mln canadian dlr bond
these rates compared with averages of 553 pct for the three and 563 pct for the six month bills sold last week
several japanese firms have already taken 10 to 30 pct shares in smaller us high technology firms such as super minicomputer makers he said
taiwans new controls on currency inflows implemented today are a desperate bid to stem a flood of speculative money prompted by the local currency surge against the us dollar local and foreign bankers said
burlington bur files two debt offerings
the daily price was 157761 sdr per tonne yesterday
sweden revises down januarys inflation figure
the market had been untapped prior to this announcement
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
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
detroit edison co is raising 400 mln dlrs through a two tranche offering of general and refunding mortgage bonds said sole manager morgan stanley and co inc
it will be paid in the form of commodities from ccc inventories
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
the companies feel otherwise
bass led group has 89 pct bell and howell co stake for investment
ccl industries purchases stake in monobloc
la electricidad is seeking permission for a 50 pct rate increase which officials say would bring in an extra 13 billion bolivars this year
for the fourth quarter mci reported a 448 mln dlr loss due mainly to write offs and staff reductions
the financial services act gives trade and industry secretary paul channon power to stop firms from engaging in investment banking and insurance one official said
decision making is quite slow complicated and very centralised schulz told 
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
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
participants in the new well along with sterling are trafalgar house ltd of the uk and texstar north america inc
however he said soil moisture conditions were favorable and many of the fields had already been top dressed which would aid recovery
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
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
we have run this alternative proposal to the accounting firms
groundnut production is planned to increase by 13000 tonnes or 57 pct by 1991 and exports by 9000 tonnes or 82 pct
the third bond in the package is a seven year five billion yen bond with a 495 pct coupon priced at par led by the norinchukin bank
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
the debt is rated a top flight aaa by both moodys and s and p
1985 4th qtr and year net reflects dividend requirement of 11 mln dlrs and 23 mln dlrs respectively and charges of 472000 dlrs and 29 mln dlrs respectively which is not accruable or payable because of pre organization tax loss carryforwards
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
scan graphics inc said it has completed a merger with captive venture capital inc in which former shareholders of scan graphics have beome majority shareholders of the merged company and the scan graphics board has been named the board of the merged company
aloha inc buyout completed
imports are forecast to fall in the current year but to rise in 1987 88 because of a new soybean crushing plant due to come on stream in early 1988
year ended september 30 1986
nz ports reopen but further disruption likely
bauer said the 20 pct limitation would only apply to the initial stake
purolator retains its stant division which makes closure caps for radiators and gas tanks
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
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
chatwal
bolivias agreement with the imf its first since 1980 opened the door to rescheduling negotiations with the paris club and argentina and brazil which hold 25 billion dlrs of bolivias 40 billion dlr foreign debt
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
becor western the amended davis mining offer is suject to confirmation of certain due diligence information
bsn bsn buys stake in macgregor mgs 
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
cutting the maximum levy rate to 70 pct would create higher levels of self sufficiency increase government revenue boost exports and provide incentives for exploration and development he said
the french franc eased to 30055 marks per 100 after 30060 belgian franc was little changed at 4829 marks per 100
several other takeover proposals have crumbled following declines in financial markets leading to speculation that edelman might also drop his offer
the central banks monetary policy has already done its part in stimulating the economy the senior bank official said
the sichuan government has ordered that any work or meeting which interferes with the fight against drought must be cancelled or postponed to save time energy and manpower the peoples daily domestic edition said
doe run raises lead price 050 ct to 2650 cts
sri lanka should not be a member of the inra because it was expensive to maintain a buffer stock they added
the federal reserve entered the us government securities market and offered to buy all maturities of treasury notes and bonds a fed spokesman said
final 1986 crop us cotton ginnings totaled 9438425 running bales vs 12987834 bales at the end of the 1985 season and 12544866 bales at end 1984 season the us census bureau said
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
they are chase manhattan corp cmb chemical new york corp chl irving bank corp v manufacturers hanover corp mhc mellon financial corp mel and security pacific corp spc s and p said the action on chase chemical irving and manufacturers primarily reflected continued vulnerability to lesser developed countries and median financial performance
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
mobile home credit was up by 130 mln dlrs after falling by 21 mln dlrs in december
shl systemhouse inc shkif 2nd qtr feb 28 net
nazer said saudi arabia would continue to produce below its 4133 mln bpd quota if necessary to defend the 18 dlr price
cooke a member of the liberal party told the us congressmen i can understand the trade bill i think it has to do with concerns you have with the other parts of the world i would suggest to you that we are your best friends
the purchase owuld be financed largely by equity but uncertainties exist as to the amount of debt to be assumed by mepc and the quality of the properties in oldhams portfolio s and p said
row crop activity was very slow amid wet conditions
the non callable bond is available in denominations of two mln lire and will be listed in luxembourg bci said
the company said the study found proven ore reserves of 3302000 short tons grading 0077 ounce of gold per ton
sterling peaked at a high of 16075 dlrs before settling to a steady 16050 dlrs about 1300 gmt nearly a cent higher than the european low of 15960
total research corp fiscal 1987 net
indonesias copra production is forecast at 132 mln tonnes in calendar 1987 up from 130 mln tonnes in 1986
it said the offering will be made only by prospectus
the philosophy of the new policy is not to close registrations
consumers said objective criteria like average exports and stocks should determine producer quota shares dauster said
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
activity in soybean oil resulted in decreases of 2400 tonnes with sales to unknown destinations down by 2700 tonnes while sales to canada increased 200 tonnes the department said
united asset uam completes acquisition
it matures on that day in 1992
nz money supply rises 36 pct in december
roses stores inc reported february sales of 927 mln dlrs an increase of 181 mln dlrs or 242 pct from sales of 746 mln dlrs in the comparable period the year prior
the money has been spread out over more than 100 loans and about 12 billion dlrs remains undisbursed
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
there was concern by the leaders that reagan would veto the entire trade bill because of the textile amendment
about 758000 bales from 1985 86 contracts were shipped up to february 2 in 1986 87
funaro however said most creditor banks had representatives in brazil who were well aware of brazils new economic measures designed to curb a surge in inflation and spending and a sharp drop in exports
there is a 10 basis point utilisation fee if the underwriters are required to pick up more than 67 pct of the paper issued and a five basis point fee if they are to pick up 34 67 pct of the paper
taiwan to study suspending forex controls
manila wants to reschedule about 36 billion dlrs of debt that falls due between 1987 and 1992 and to obtain easier terms on 58 billion dlrs of previously restructured debt
twa stock fell 3 8 to 30 5 8
it said the 26 pct of the industry that made no profit in the fourth quarter had losses of 32 billion dlrs
but it was better than never ko fei lo vice president at first commercial bank said the government should rapidly relax its foreign exchange controls and open its market wider to help balance trade with its trading partners especially the united states
improved weather and a further increase in the use of intensive cultivation methods could therefore see a marked rise in soviet maize output in 1987 the iwc said
a hutton spokesman said the firm is reviewing its options on stant
poehl said germany had practically no growth in the past six months because of the marks surge and the cold winter
it said on completion of the acquisition it would change its name to voice systems and services inc
in february the figures were 24 pct 22 pct and 54 pct respectively
manly molpus also said the industry would file a petition challenging koreas ban of us meat products
baker intl bko hopes to complete merger
on tuesday the world bank approved two loans totalling 310 mln dlrs to help the countrys economic recovery program
foreign exchange trading income rose to 82 mln dlrs from 726 mln and trust income increased to 959 mln dlrs from 759 mln
swedish matchs b shares open to foreign buyers closed at 424 crowns on friday
the share currently trades at 734 francs
aristech said the expansion will increase the companys total polypropylene a thermoplastic resin capacity to 600 mln pounds annually from 515 mln pounds now
osr osrc to make acquisition
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 previously appointed management for the new airline
solv ex solv shell canada shc pact complete
the payment date is may 7
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
under that agreement chemical fabrics would also have become distributor of dow cornings vestar silicone coated fiberglass architecural fabrics
he said the united states has some of the most efficient capital markets in the world and new taxes would impair efficiency
spearhead industries inc sprho 3rd qtr net
the aim for 1987 was for the same real growth in gdp but a drop in the internal contribution to 45 pct with the negative component of the external sector trimmed to 15 pct he said
the bonus awarded was 1130 dlrs per tonne and will be paid to peavey company in the form of commodities from ccc stocks
us monetary officials may refrain from making any comments this month to avoid influencing rates they said
hutchison whampoa ltd hwhhhk expects satisfactory profits in 1987 and will pay a higher dividend for the year chairman li ka shing said
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 re emergence of south africa as a competitor follows a period of severe droughts which at one point required south africa to import 27 mln tones of us corn in 1983 84 it said
thus if the buffer stock manager was buying cocoa based on a malaysian price of 1200 stg a tonne he would accept ghana offers up to 1337 stg
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
it said the fall was largely due to sales of foreign currency that preceded the january 11 realignment of the european monetary system ems foreign currency reserves fell by 891 billion francs during the month the ministry said
qtly div 25 cts vs 25 cts prior pay june one record may 15
allwaste inc said it has agreed in principle to acquire a privately held firm that performs interior cleaning services for tank trailers for 1300000 common shares
in 1986 the three businesses made pre tax profit of around 25 mln stg on sales of 39 mln stg
it said other group members include jacksonville fla businessman jack c
french primary bond market shows new sparkle
we expect the ministry to give us permission by the end of april he said
west germany and sierra leone signed an agreement to reschedule 26 mln marks of principal and interest payments on loans the west german foreign ministry said
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
volcker says fed remains concerned about the possibility of renewed inflation
novo industri earnings fall despite increased sales
first interstate i estimates loss on brazil
the plant will use a chemical process called leaching to extract the residual gold which could not otherwise be economically recovered
isc systems iscso 3rd qtr march 27 net
asbestec industries inc said its board declared a three for two stock split payable april 17 record april three
spar aerospace ltd reporting a sharply lower 1986 profit said it anticipated solid profit and revenue growth during the next five years
dlr below 150 yen counter to paris pact miyazawa
the commodity credit corporation ccc has authorized 30 mln dlrs in credit guarantees for sales of us rice to algeria for fiscal year 1987 under the export credit guarantee program gsm 102 the us agriculture department said
net income in the quarter was 394 mln dlrs or 112 dlrs a share on sales of 178 billion dlrs
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
sumitomo mining smitt raises nickel output
ecuador had recently been pumping 260000 barrels per day
the next tender for aug sept oct shipment was set for june 24 the spokesman said
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
core industries inc cri 2nd qtr feb 28 net
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
volcker leaves void on ldc debt bankers say
henderson estimated it is worth abouth 55 dlrs per share
fresh juice co inc frsho 1st qtr feb 28 net
the number of seismic crews searching for oil and gas in the united states dropped by nine to a total of 151 crews a decrease of six pct from january the society of exploration geophysicists said
commenting on the deficit during an interview on cable news network baker said i think youre going to see a 15 to 20 billion dlr reduction this year the deficit was 170 billion dlrs in 1986
shr two cts vs nine cts net 86469 vs 325937 revs 5119637 vs 6390995 12 mths shr 10 cts vs 33 cts net 354820 vs 1148476 revs 212 mln vs 232 mln
group of 10 welcomes latest g 7 agreement
cooperative energy tests oil at two wells
marcus mrcs votes 50 pct stock dividend
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
mony financial buys united administrators uai 
turkish retail prices rose 27 pct in february after 29 pct in january and 17 pct in february 1986 the state statistics institute said
shr 54 cts vs 49 cts net 702 mln vs 640 mln note share adjusted for two for one split in july 1986
atlantic city electric ate to redeem stock
terms were not disclosed and company officials were unavailable for comment
twa also said that by order of the federal court in pittsburgh it is temporarily barred from buying additional shares of usair pending a hearing march 23 to reconsider usairs application to expand the temporary restraining order to a preliminary injunction
belgian transport minister herman de croo told reporters i fear the dead could be in hundreds perhaps 200
cotton for december delivery was 135 cents higher at 7095 cents a lb at midsession after peaking this morning at 7125 cents
the banks stake has since been cut to 164 pct in return for 157 billion dlrs
liemandt away from his job as chairman of general electric cos ge computer services unit
diesel would rise by 75 pct
revenue from dutch operations rose five pct in 1986 mainly due to its life insurance business
president andrew tananbaum said the announcement will follow a regularly scheduled board meeting
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
in january 1986 the union recorded a deficit of 2331 billion francs
water cwtr 
economic spotlight us congress raps japan
they died while guarding a chokepoint of freedom deterring aggression and reaffirming americas willingness to protect its vital interests reagan 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
us ex im bank to change lending policies
xerox said the preliminary agreement to sell the affiliate to fintech an altron unit had been reached in march
the us soybean industry believes labels indicating tropical oils are high in saturated fats would discourage consumption of the oils imported primarily from malaysia indonesia and the philippines
shr 15 cts vs 27 cts net 4358947 vs 7786640 revs 1408 mln vs 1212 mln year shr 86 cts vs 106 dlrs net 248 mln vs 305 mln revs 5603 mln vs 4877 mln
customs figures show it imported 171118 tonnes of copper and alloy in calendar 1986 down from 355652 tonnes in 1985
nickel analyst ilmar martens at walwyn stodgell cochran murray ltd said incos removal from the index would likely spark short term selling pressure on the stock
the bank of england said it had provided the money market with around 40 mln stg late assistance
uk government bonds plummet with us issues
spot volume in the australian foreign exchange market jumped to a record 2263 billion dlrs a day in january from 1618 billion in december and 827 billion a year earlier the reserve bank said in its monthly bulletin
american amr sets schedule for aircal merger
claiborne pell introduced legislation to permit eight states along the northeast corridor to sell tax exempt transportation bonds to improve high speed rail service
applied solar energy corp solr 1st qtr net
non currency reserves were unchanged at about 25 billion marks bringing net monetary reserves to 847 billion
the survey covering a broad section of institutional investors also showed that investors were uneasy about the impartiality of market makers advice
one dealer said this was the first time the ministry had made such a request to commercial banks
bank notes in circulation fell 3091 mln francs to 2449 billion and other deposits on call basically government funds rose 106 billion to 210 billion
kodak said part of the staff reduction will be achieved through an enhanced voluntary separation and retirement plan for employees of carolina eastman eastman chemical products inc and other kodak units in kingsport except holsten defense corp
terms of the acquisition were not disclosed
guyana finance minister optimistic but seeks help
balances in tax and loan note accounts fell to 21334 billion dlrs from 25164 billion dlrs on the same respective days
trump said the shares he has agreed already to buy represent a 78 pct interest in the class b stock
strawbridge and clothier said its board declared a seven pct stock dividend payable may 14 to holders of record april 14
de benedetti said last week that his group was negotiating a purchase of an unidentified italian food firm
analysts noted japans ministry of international trade and industry miti has already ordered chipmakers to cut production in order to dry up the source of cheap chips sold in third countries at non regulated prices
coffee futures at six year low under 1 dlr lb
homestake mulls buying ore reserves
the scarcity of beans because of the effects of drought on the current temporao harvest has pushed prices well above international levels the sources noted
he announced after his meeting that chirac had told him the government would spend two billion francs on a series of measures to boost employment and training andre bergeron a widely respected leader of the moderate force ouvriere labour group put similar demands to chirac earlier in the week while the communist led cgt the largest of frances unions declared the defence of its members earnings its top priority
while he detected no rush into stocks from bonds either among the many mutual funds under the t
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 peruvian government announced it would assume 136 billion dlrs of foreign medium and long term debt of the state electrical power firm electroperu sa and its nine regional subsidiaries
alliant computer systems corp alnt said that it has signed an agreement with macneal schwendler corp mns where macneal will develop a new version of its msc nastran software for alliants fx series computers
mitsui and co ltd said it plans to issue 300 mln eurodollar warrant bonds in two tranches with payment on march 30 through a syndicate led by nomura international ltd
mobile home credit was down by 59 mln dlrs in february after rising 141 mln dlrs in january
new crop sales were also light and all to open ports with june july going at 1850 and 1880 dlrs and at 35 and 45 dlrs under new york july aug sept at 1870 1875 and 1880 dlrs per tonne fob
if sumitomo were to set up a securities operation it would have to set up a full subsidiary he said
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
tranzonic cos tnz 4th qtr feb 28 net
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
oper shr profit 152 dlrs vs loss 55 cts oper profit 4172188 vs loss 1502032 revs not given note 1986 shr and net exclude extraordinary gain of 1294245 dlrs or 47 cts share on sale of stafford foods unit
the chinese firm offered to build the vessel at over 30 mln marks less than west german yards despite government subsidies which bonn pays its ailing shipbuilding industry hapag said
this winter however snowcover in soviet grain areas has generally been excellent so the bulk of winterkill analysts speculate likely has been due to a very dry fall and subsequent poor crop germination
it said a portion of the proceeds was used to finance its acquisition of gleason security services inc and gleason plant security inc
the unadjusted year on year rise was 189 pct after 176 pct in the year to january the bank said
it was a bad investment for them
calny clny gets bid from pepsico pep 
north east insurance co neic 4th qtr loss
ina said the decree signed by president saddam hussein relieved the minister of heavy industries subhi yassin khadeir of his post and appointed him a presidential adviser
shr two cts vs 29 cts net 23000 vs 338000 revs 202 mln vs 215 mln six mths shr 64 cts vs 97 cts net 741000 vs 1113000 revs 432 mln vs 443 mln note 1986 2nd qtr and six mths ended march one
hanson industries completed the purchase of kaiser cement on march 3 for about 250 mln dlrs
republic also has substantial debt and has left wall street questioning whether financing can be completed for the much larger american medical takeover proposal
the initial exercise price is 494 yen per share and final maturity is february 4 1992
iraq has rejected its new opec production quota set in vienna for the second half of this year the official iraqi news agency ina reported
it actually does nothing for anyone who has been stuffed and right now thats the problem said a trader at one uk clearing bank that has also issued its own perpetuals
home savings durham hsld sets stock dividend
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
eurostat said ec industrial production in december rose 31 pct compared with 12 months earlier but added that after adjustment for seasonal factors output growth had been clearly slowing down since the beginning of the summe
these banks hold two thirds of the countrys 816 billion dollar foreign debt
last year almost 245 mln acres of those crops were harvested
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
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
light sour crudes were raised to 1995 dlrs a barrel the company said
cablevision said it is the nations 21st largest cable company and is ownnd by alan gerry its chairman president and chief executive officer
he said on arrival that the economy of south east asias largest nation was being managed well but the slump in world oil prices called for major policy adjustments
after the firms recapitalization substantially all of its assets will be pledged to secure bank and other debt totaling 14 billion dlrs
she said the sugar could be offered again to intervention
atlantic southeast asai traffic increases
the zambian currency further depreciated yesterday at the second auction since the introduction of a two tier foreign exchange system last month
fees include a one pct combined management and underwriting and a one pct selling concession
the incorporation of cc bank in our group will provide a major boost for chanelling investment between spain and the european community the statement said
mcdonalds corp said it filed a shelf registration with the securities and exchange commission covering 300 mln dlrs of debt securities
the terms of the transaction were not disclosed
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
oper shr one ct vs six cts oper net 48000 vs 556000 revs 190 mln vs 265 mln year oper shr 19 cts vs 46 cts oper net 1586000 vs 3971000 revs 908 mln vs 1031 mln note previous oper net excludes 404000 dlrs of extraordinary expenses for qtr and 991000 dlr gain for year
it would seek longer repayment deadlines and lower interest rates
belgium zaires former colonial ruler and its main trading partner recently agreed to release a total of 17 mln dlrs to ease payments difficulties and finance imports of spare parts for industry
revlon stands to make a substantial amount of money if someone else takes over gillette said analyst deepak raj of merrill lynch and co
the company said its board is now composed of three cyclops executives chairman wh knoell president james f
in addition dtss board resigned and eagleslair appointed new directors the company said
japan says us japan microchip pact working
omb deputy director joseph wright said the administration this year plans to turn over to private credit rating firms data on about 35 mln deadbeats who are seriously behind or in default in their payments on federal loans
lilly industrial coatings inc licia in payout
sale tilney buys stake in us insurance broker
shr 1463 dlrs net 218 mln revs 2529 mln note company changed its reporting period to dec 31 from may 31
the treasury said it received 249 billion dlrs of bids for the three month bills including 10 billion dlrs in non competitive bids from the public
the forecast was based on average exchange rate estimates of 160 yen to the dollar in 1986 87 and 155 yen in 1987 88
spar sees sees strong five year growth
however hawkeye with assets of 109 billion dlrs at 1986 year end said it expects to have sufficient cash to meet its obligations for the next 12 month period last july the bank holding company reached a debt restructuring agreement which identifed 17 bank subsidiaries and five non bank operations for disposition
wallace resigned as directors
while sosnoffs bid depends on several factors including licensing by both the nevada and new jersey gaming commissions the deal could result in a significant increase in caesars worlds leverage the rating agency said
domestic exports slid 289 pct to 999 billion dlrs from januarys 1405 billion dlrs but were up 197 pct over the 835 billion dlrs recorded in february 1986
the philippines really means business on this
the company said in 1983 it recorded a profit of 8600000 dlrs for its first quarter
redman declined to elaborate on what washington was doing but he said an emergency meeting of nato ambassadors in brussels on the subject was only one path it was pursuing
the previous record was 1751 billion dlrs last august
an acute crisis of confidence in equity markets over the past two days will in any case subdue personal consumer credit demand which has largely been behind growth in lending
us defends stockpiled tin sales in 1986
soybean groups meet with lyng to discuss loan
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
it said both loans are repayable over 40 years including a 10 year grace and carry a service charge of one pct a year
whether were going to do something i dont know he said
bass who controls 25 pct of the stock and american financial corp holder of 15 pct did not return telephohe calls seeking comment
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
natural gas seen recapturing some market share
revolving credit in february rose 104 billion dlrs after falling by 23 mln dlrs in january
1986 quarter net includes reversal of 216000 dlrs in investment tax credits
sugar mills are suffering because refined sugar prices have not changed for 20 years despite rising costs it said
maryland national corp said it filed with the securities and exchange commission a registration statement covering a 125 mln dlr issue of subordinated capital notes due 1999
the all suite residence inn system which is geated to extended stays currently has 93 open franchised or company owned hotels nationwide and another 55 in construction or development
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
bank of japan governor satoshi sumita threatened central bank intervention if necessary
the offering will be underwritten by bear stearns and co and first boston corp
oilseeds on the other hand remain at depressed prices because of burdensome supplies he said
pembina resources ltd year net
he said for the year however the company should report a loss of about 50 cts a share compared with earnings of about 35 cts a share a year ago
k mart corp said its board approved a 176 pct increase in the quarterly dividend and declared a three for two stock split
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
any unilateral us moves would leave the ec no option but to react according to the laws of the general agreement on tariffs and trade it said
the company also said marketing vice president jerome j
this compares with the banks present band one dealing rate of 10 3 8 pct
atlas consolidated mining and development acmb 
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
on an unadjusted basis january payments showed a 52 billion franc deficit after a revised 71 billion december surplus
it doesnt happen every day every week every month but its not unusual for us to be linked with those companies said denny lynch wendys vice president of communications
world bank loans pakistan 220 mln dlrs
a hormel and co hrl 
fianna fail won 81 of the 166 seats in the february 17 poll
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
exports in 1985 86 196 vs 196 last month
only britain and the netherlands had shown willingness to accept the commissions overall package they said
under the program notes in denominations of 100000 dlrs will be issued with maturities ranging from seven to 365 days
feds johnson warns us banks against excess rigidity in ldc debt talks
in a briefing ahead of this weeks semiannual imf and world bank meetings he also said the us was looking to west germany and japan to bolster their economic growth
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
february us retail sales not sign of upturn
it also said the participation of epac which still controls the national grain storage and distribution network was unfair competition to the private traders
us m 1 money supply rises 12 billion dlrs in march 16 week fed says
1985 4th qtr and year net includes 51 mln dlr and 134 mln dlr provision respectively for possible losses
trans world airlines inc sold four mln shares it held in usair group inc wall street sources said
duff phelps changes baker bko hughes ht debt
cms advertising sets 3 for 2 stock split
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
manny moe and jack inc said its board declared a three for one stock split and raised the quarterly dividend to six cts presplit from 5 1 2 cts
analysts see no immediate sign of a rally in european tin prices and movements are still expected to be largely related to currency fluctuations unless significant consumer demand emerges for the third quarter
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
for the first nine months of its fiscal 1987 year ended november 30 1986 nuclear data reported a loss of almost nine mln dlrs or 498 dlrs a share on revenues of 326 mln dlrs
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
shr 13 cts vs 41 cts net 1079100 vs 3535205 revs 136 mln vs 162 mln note current results for 16 months after change in fiscal year end to december 31 from august 31
gas output of 59 billion cubic metres and natural gas liquids output of around one mln tonnes in 1986 are expected to be maintained in 1987 he said
god willing we will carry out our duty in the coming days and make them sorry said rafsanjani in a speech to parliament later broadcast by tehran radio
the purchase price was not disclosed
zim energy zimr to sell shares privately
although under pressure from oil companies and wheat farmers for help in battling depressed commodity prices wilson said it has to be recognized the area was a prisoner of market forces outside the boundaries of this country wilson appearing before the committee to discuss the governments spending estimates released earlier this week said the government is doing what it can in the region citing more than 35 billion dlrs in aid for western agriculture
coffee export quotas were suspended a year ago when prices soared in response to a drought which cut brazils crop by nearly two thirds
the world bank sources said lending to the philippines is designed to support its balance of payments position while the government aims for a target of six to seven pct annual gross national product growth
us commercial paper rises 35 mln dlrs in march 18 week fed says
piedmont has received opposing bids from norfolk southern corp and us air corp
detroit edison files shelf registration for one billion dlrs in bonds
qtrly div five cts vs five cts pay april 20 record march 30
signing takes place today and the first issuance of maturities from seven days to five years should take place later this month
german public authority bundesbank holdings fall
dealers in frankfurt and zurich saw the dollar remaining broadly entrenched in its current trading range
the issue price will be 10175 pct of the principal
in its report on world production and trade developments usda said that in 1987 beef production is expected to reach 23 mln tonnes
uk money rates fall as bank approves base rate cut
the new system will add such items as fiber optics and more accurately define new composites items not widely traded when the current schedule was devised some 30 years ago
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
the economy is not receiving a considerable amount of the equipment that it requires said talyzin who heads the state planning committee gosplan
shr three cts vs 18 cts net 220000 vs 1250000 revs 118 mln vs 9430000 year shr 45 cts vs 69 cts net 3400000 vs 4037274 revs 451 mln vs 343 mln
in absolute terms the measure rose to 2232 billion marks in february from 2218 billion in the prior month
shr one cts vs two cts net 50000 vs 58000 revs 467000 vs 760000
japan slightly reduces sugar consumption estimate
it said its offer was therefore subject to further discussions
australian officials said they hoped the goodwill generated by their participation would lead to further citic investment in victoria
trans world airlines twa files on usair u 
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
asked to comment on chiles agreement with its creditors today which includes an interest rate margin of one pct over libor azpurua said only that is good news according to banking sources the banks latest offer to venezuela is also a one pct margin as against the last februarys 1 1 8 pct rescheduling accord and the 7 8 pct venezuela wants
opec countries are all sticking firmly to official crude oil prices but the volatility of spot prices is likely to continue into the third quarter indonesian minister of mines and energy subroto told 
but ge injected sizeable equity into the unit at timely intervals s and p noted
housing starts before adjustment rose to 150200 in september from 144600 in august
silver looks unlikely to break out of gold and platinums shadow in the near future although this year is likely to see demand increasing at a faster rate than supply a study by credit suisse said
italys banca commerciale to launch eurolire bonds
pacificorp ppw buys buys computer firm
lmfe to concentrate on cash settled contracts
they said there will be significant earnings gains in 1987 compared to last years dismal results when oil prices dropped about 50 pct
deputy oil ministers from six gulf arab states will meet in bahrain today to discuss coordination of crude oil marketing the official emirates news agency wam reported
the money will help to enlarge a factory which produces data processing equipment in the piedmont region
existing debt strategy has been based on nursing debtor economies back to a position where they can again service their debts and qualify for new loans
cut were zeniths senior debt to ba 2 from baa 3 convertible subordinated debt to b 1 from ba 2 and commercial paper to not prime from prime 3
beverly enterprises bev sets regular dividend
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
volcker said us exports were now growing substantially while import growth should slow
several other mediterranean refineries are currently shutdown for maintenance most of which were scheduled some months ago
last november fixed rate mortgages were about 1030 pct
west german finance minister gerhard stoltenberg said this week he believed the tax could still be removed even if its abolition was not decided during recent coalition discussions
in the first fiscal quarter this year the company lost 1350387 dlrs or one ct per share on sales of 3570585 dlrs
it estimated factory and warehouse stocks of inedible tallow on february 28 at 4107 mln lbs vs a revised 3516 mln the previous month and 3619 mln in february 1986
iran soviets to hold talks on oil exchange deal
coconut oil contract to change dutch traders
api reports sharp fall in drillings
mitchell energy and development corp said it plans to hold its capital spending in fiscal 1988 ending january 31 to 96 mln dlrs down from the 123 mln dlrs spent in 1987 and 213 mln dlrs in 1986
guillaume was head of the fnsea for many years before being appointed farm minister last spring
this proves we are achieving our goal of reestablishing the financial flows to the country said azpurua
first boston and kidder have been advisers to gencorp in the past he said
there was a general will to reinforce the european monetary system with all that implies belgian finance minister mark eyskens said yesterday after hosting a one day session of informal talks at this belgian coastal resort
olin oln du pont dd complete plant
diebold inc dbd declares dividend
atari atc cancels domestic debt offering
aero services aeroe in pact for nominations
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
speed o print business sbm 4th qtr net
shr basic 88 cts vs 122 dlrs shr diluted 83 cts vs 110 dlrs net 114108000 vs 140389000 avg shrs 1075 mln vs 1005 mln loans 664 billion vs 659 billion deposits 828 billion vs 844 billion assets 987 billion vs 967 billion
the transportation agency said air north america also failed to show that there are barriers that would prevent new entrants into those markets or prevent other carriers from increasing their service
co lead is sg warburg and co ltd
japanese people dont like fighting
endevco ei agrees to buy mississippi pipeline
wainoco said it had filed a registration statement with the securities and exchange commission for the offering of the two mln units consisting of two shares of common stock and one warrrant per unit for a total of four mln shares of common stock and two mln warrants
sico said it acquired sterling groups canadian assets in february
it said the 1986 profit was made possible through a 40 mln mark write back of reserves that had been created to cover possible price rises
hrw laydays include june 20 30 on 5000 7000 tonnes july 15 25 for 6500 8500 tonnes and september 15 25 for 7000 9000 tonnes
with regard to bank holdings in companies the bank of italy can exercise supervisory controls when information on a banks consolidated activities show single shareholdings in a company or another bank of 25 pct or more owned directly or indirectly
in petitioning the sec de los angeles amended an earlier suit two weeks ago in which he charged smc chairman andres soriano iii and nine other directors of violating their duties
malaysian oil palm growers have said the charges by the asa that palm oil consumption increases blood cholesterol and contributes to heart disease are untrue
commenting on mondays failure by producer and consumer nations to agree on new export quotas needed to tighten an oversupplied coffee market ivorian agriculture minister denis bra kanon told reporters that traders would eventually be obliged to restore their positions
the company said maple leaf had 1986 sales of 819 mln dlrs and an after tax profit of 163 mln dlrs
however there is no formal link and the discount rate was not adjusted following the march 23 changes
shr profit 14 cts vs loss 19 cts net profit 225 mln vs loss 300 mln revs 6930 mln vs 5979 mln avg shrs 1660 mln vs 1542 mln note prior year net includes five mln dlr tax credit
bundesbank sets new repurchase tender
boone pickens offered 15 dlrs a share for diamond shamrock and management countered with an offer at 17 dlrs and a decision to split off the refining and marketing operation to its shareholders
they said recent high interest rates have encouraged an acceleration in foreign funds returning to france discouraging the authorities from making a hasty rate cut
we want to maintain our production in the yates field during these difficult times roderick added
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
quixote said its wholly owned subsidiary laservideo inc is making advancements in the art of mastering and manufacturing compact discs cd roms and laser read videodiscs
however the market may be able to absorb lower uk interest rates as it has done when other countries have cut their discount rates and extend the pounds rally sloane said
the seven year put option was priced at 118 pct to give the investor a yield to the put of 731 pct
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
it said general electric cos ge general electric credit corp and georgia pacific corp gp are selling the shares
new homes available on the market in january totaled a seasonally adjusted 362000 units unchanged from december and equal to a 63 months supply
he said he was concerned that hostile takeover attempts were hurting the economy a view shared by corporate executives who tesitified at the hearing
additional preferential dollar premiums put the total cost at 747 billion not including interest payments
the company also said it still intends to pursue a new corporate direction and is exploring acquisition alternatives
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
the note is callable at any payment date after the first year
keith goodrich said
this compares with yesterdays rate of 625 francs
it said hc also agreed to lend up to 600000 dlrs to it in advance of closing and it had already received 300000 dlrs
saitos words were ignored
numac oil and gas ltd said it expects significant improvement in operating performance during 1987
brnf liquidating trust sets distributions
the offer and withdrawal rights expire may 15 unless extended
for its fourth quarter ended december 31 1986 rospatch reported net loss 2649000 or 110 dlrs a share compared a loss of 627500 or 35 cts profit for the 1985 period
in manilas case about 40 pct of the 15 billion dlrs outstanding to commercial banks is owed to the 12 large banks on the advisory committee while about 180 smaller banks have average exposures of 20 mln dlrs each
great american recently announced plans to acquire capital savings bank olympia wash and last year acquired home federal savings and loan association tucson ariz and los angeles federal savings bank which resulted in 66 new offices and three billion dlrs in assets
1st central financial fcc sees higher earnings
nippon life insurance co is pursing a possible link with an american securities house to expand its overseas investment portfolio a company spokesman said
hawkeye reported a 1986 loss of almost 59 mln dlrs citing an increase in its loan loss provision to 347 mln dlrs and restructuring costs of 27 mln dlrs
soybeans were higher wheat lower and corn mixed on the chicago board of trade
these agreements are being tested as finance firms expand and s and p said it will review a unit that violates the pact
the world bank sources said the bank cancelled 450 mln dlrs in loan commitments to the philippines during the last three years of president ferdinand marcoss rule
however he is not optimistic that opec can address its principal problems
s p downgrades baker international corp upgrades hughes tool co affects 840 mln dlrs of debt
stocks sept 30 1986 at 212 vs 212 last month
the company said the restaurants in orlando tampa and jacksonville markets have incurred the majority of bojangles operating losses over the last two years
sri lanka has appealed to 24 countries for emergency aid to help 24 mln villagers affected by the countrys worst drought in 36 years government officials said
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
bicc said in a statement that sales in bicc cables were down on 1985 due to a sharp drop in demand for cable in the oil and chemical industries after the oil price drop
the commodity credit corporation ccc has accepted bids for export bouses to cover sales of 150000 tonnes of us barley to saudi arabia the us agriculture department said
helen of troy corp hele 4th qtr feb 28 net
first city bancorp of texas inc which is soliciting bidders reiterated that it is premature to speculate on what course of action it will pursue following a story in todays wall street journal that it has attracted at least three potential acquirers
portuguese grain agency ban to remain ec sources
euroyen issues sank slightly in line with prices on domestic japanese bond markets but recovered in late trade as the yen soared
ncr corp 1st qtr shr 65 cts vs 51 cts
imf officials discussing their outlook said they believed the industrial country economies would move up to an annual growth rate of three pct by the end of the decade
ec commission grants export licences trade
inflation in the 24 western industrialised nations in january was a revised 19 pct year on year
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
it coincided with another strong sterling rally which pushed the pound to four year highs against the dollar
the last three ministerial meetings have been held in paris to keep down costs
through a series of transactions investors will receive 100 common shares of cdc for each unit representing a price of 16 dlrs a common share
eyskens repeated calls for the european currency unit the fledgling ec currency at the core of the system to take over the marks dominant role in the ems a proposal that has met with a cool response in west germany
it gets attention but it hasnt devastated anything because it wasnt working in the first place a senior arab banker in the area said after the news broke this was a good measured response without risking a flare up it is a face saving response for the americans
eligible corn producers will be paid 63 cts per bushel based on the difference between the 303 target price and the 240 dlr per bushel basic loan rate
brazil cancels oil purchase from saudi arabia
the harris trust and savings bank said it has increased its prime rate to 7 3 4 from 7 1 2 effective immediately
deposit guaranty corp deps 1st qtr net
bumper harvests had reduced rural inflation and urban prices had already reflected the nairas black market value before the currency was allowed to find its true level last september
the bank is primarily a development institution not a debt management agency
in particular they said it had become clear that argentina was serious about its threat to suspend interest payments unless it got a good deal
the repurchase offer managed by lazard freres et cie opens april 10 and closes april 27
moodys said norstars ratings have been under review for possible downgrade since february 23
they fell by 26 pct in the year to february 1986
shr 18 cts vs 17 cts net 584493 vs 540977 revs 4685930 vs 4524315
it continues a buffer stock of not more than 550000 tonnes established by a 197agreement
jp morgan and co inc 1st qtr shr 122 dlrs vs 128 dlrs
neither hutton nor purolator had any immediate comment
taxes jumped 513 pct to 92 mln francs in 1986 from 61 mln the previous year
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 upgrading followed a re review by consultant coles nikiforuk pennell associates in light of the large number of gas finds since may 1986 santos said in a statement
major tanker operator japan line ltd jlitt is selling 20 vlccs and several bulk carriers for scrap or further trading industry sources said
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
new york business loans fall 718 mln dlrs
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
some yugoslav agriculture officials are concerned about the situation because warm temperatures have brought the grain out of dormancy and taken away snow protection a little early the report said
the company added that no optional redemption may be made prior to april 1 1994 with or in anticipation of borrowed funds or senior or parity stock having an effective cost of less than 688 pct per annum
servicemaster svm sets quarter distribution
and on wednesday the long term vision of the ecu as europes common currency took a step nearer to becoming reality when belgium minted the worlds first ecu coin
results include us press inc from november three acquisition
taiwan buys 340000 tonnes of us maize
morgan which has over 19 billion dlrs of brazilian debt said in its annual report it is possible that nonaccrual loans to borrowers in brazil could increase during 1987 however a spokesman for morgan told right now we are still accruing interest and we have not yet decided what will be done as of march 31 citicorp cci said last week that 39 billion dlrs of brazilian loans may be put on a cash basis on march 31
the taiwan dollar which opened at 3424 to the us dollar today has risen about 16 pct against the us unit since september 1985
qtly div 14 cts vs 125 cts in prior qtr payable april 18 record april two
it is far too early yet to say what kind of output we can expect when it comes to harvest in september but at least the crop is off to a very good start he said
the realty investment trust company started operations in august and had no comparable figures it said
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
chrysler also holds a 15 pct interest in italian sports car producer alfieri maserati spa
oper shr 22 cts vs 20 cts oper net 1153000 vs 1068000 revs 157 mln vs 158 mln six mths oper shr 38 cts vs 38 cts oper net 2039000 vs 2051000 revs 314 mln vs 316 mln note exlcudes 145000 discontinued operations for 1986 oper net for six mths for sale of electronics division
we did not ask any country to do anything
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
continental health affiliates inc said that it has acquired marketech inc an 80 pct partner in diatronics nutrition services continental said diantronics nutrition services is a joint venture with physicians providing patient ready home infusion therapy products and services to outpatients of five northern new jersery hospitals representing over 1900 inpatient beds
united overseas bank ltd uobmsi year
exchanges and telecommunications authorities should abolish their restrictions on full and free dissemination of information to the investment and banking communities holdings plc rtrsl chairman sir christopher hogg said
the present pact which expires in october required that governments accounting for 80 pct of world exports and 80 pct of world imports approved or ratified the pact before it became operational
after tax these gains added 68 mln dlrs or six cts per shr to net income
the mine was kept open in 1985 after tasmania gave rgc 10 mln dlrs in aid
further moves included introduction of mark denominated certificates of deposit last year
foote 83 pct owned by newmont mining corp said newmont has informally indicated it would vote in favor of the rio tinto proposal
the market dropped by up to 1 2 point following the banks announcement with the treasury 13 1 2 pct stock due 2004 08 quoted one full point lower at 134 12 32 stg pct around 20 minutes after the news
total 1986 87 crude steel production is estimated at 2557 mln tonnes down from 2798 mln a year earlier
joe franklin and assets development to merge
the swingline will be available for a maximum of seven days
the bills will be issued april 2
in addition institutional sources told on friday that salomon brothers inc lowered its investment ratings on the stocks of all us money centers
samudio stressed that despite the most recent attacks which cost more than four mln dlrs in damage the overall situation had improved compared with last december when initial measures were taken to combat a wave of attacks
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
liquidity in the philippines rose in december while loan demand and short term lending rates fell the central bank said
the european commissions decision to release an additional 300000 tonnes of british intervention feed wheat for the home market will provide only moderate relief in an increasingly tight market traders said
the company earned 286969 dlrs in last years fourth quarter
cyclops said its reconstituted board includes the three newly named directors and five outside directors all of whom were on the board prior to dixons tender offer
france sets four billion franc t bill tender
additional non north sea corporation tax of 175 billion stg and vat of 750 mln stg account for the bulk of the overshoot
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
he made no explicit reference to the latest us military action in the gulf
diversified industries dmc to sell units
the offer has been extended to april 15
market sentiment has reflected optimism i wouldt put it any stronger than that ward said
shr 22 cts vs 50 cts net 12 mln vs 22 mln sales 417 mln vs 383 mln note bii enterprises inc
conseco currently carries b 1 senior subordinated debentures and convertible debt
for 1986 it earned 170 mln dlrs or 101 dlrs a share on sales of 1415 mln dlrs
consolidated group premiums totaled 1700 billion lire in 1986 compared with 1490 billion the previous year
revlon today rose 3 8 to 19 1 4 in active trading
corporate life insurance co a west chester pa insurance firm told the securities and exchange commission it has acquired 44600 shares of preferred stock in piezo electric products inc or 108 pct of the total
the dividend distribution will be made march 30 to holders or record on that date
we regard this as a test case she told parliament
disposable personal income in february after taxes was up 12 pct or 378 billion dlrs to 30634 billion dlrs after rising 258 billion dlrs in january
le matin the french language tabloid launched here in february said it is shutting down its operations because it can no longer get financing
cuba crude sugar harvest far behind schedule
bolivia said it expects to export less tin this year than its allocated 13761 tonne quota
economic analysts and the imf have been saying for some time that the ability to keep the debt crisis from turning into an economic rout rests on sustained economic growth
it is a purely technical matter he added
on february 20 president jose sarney announced that brazil was suspending interest payments on 68 billion dlrs of debt to private banks
the bank of england said it forecast a shortage of around 800 mln stg in the money market today
saudi oil company gets new acting governor
6100 workers all of general motors truck and bus plants will be operating next week a spokesman for the truck and bus group said
sales of 8 mm vtrs had already exceeded beta format vtrs sales since the beginning of fiscal 1986 hashimoto said
canada central bank head sees moderate growth
bids up to 30 mln guilders were met in full amounts above at 40 pct
the company said it was the first complete update in 25 years
x 1986 rates
lionel corp lio 4th qtr jan 31 oper net
glaxo pre tax profit 376 mln stg vs 260 mln in six months to end december
under the plan the four companies will set floor prices for exports as prices have fallen sharply due to the yens appreciation against the dollar reduced world demand caused by lower oil prices and excess domestic capacity which resulted in price cutting competition the officials said
but monthly inflation throughout the oecd was an average 04 pct in january a rise compared to the 02 pct in the last quarter
nass said it will discontinue california forecasts for lemons during december february march may and june and for grapefruit and tangerines for those months plus november
major video corp majvo year april 30 net
this situation will be difficult to duplicate in 1987 and beyond because no significant new investments are being made the report said
although area to be harvesteed is about the same as last year cane production may be up in florida this year he 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
tandy corp said consolidated sales and operating revenues for the third quarter ended march 31 totaled nearly 7760 mln dlrs up 12 pct from 6934 mln dlrs last year
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
we think we can try to get a little part of their roost he said
he said some non opec oil producing countries had shown a political willingness after 1986 to cooperate with opec
lair liquide airppa year ended dec 31
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 
exports rose to 407 billion us dlrs from 385 billion in february and 299 billion in march last year
the bank does this by lending to the discount houses at rates of interest higher than its prevailing money market dealing rates
growth in the fiscal year beginning next month will only pick up 22 pct from two pct in the current year he said
it would also give the commerce department primary authority to decide which exports will be permitted and limit the defense department to an advisory role in reviewing requests to export highly sensitive technology
jwt group inc said it filed a suit against wpp group plc to enjoin the company from continuing its tender offer
after some deterioration the situation and prospects for jamaica improved substantially in 1986 and early 1987 mainly as a result of a decline in energy prices and interest rates and a strong recovery in the tourist sector the imf said
fractions will be paid in cash
the company said the suit filed in us district court for the southern district of ohio seeks a temporary restraining order and preliminary injunction requiring dixons for 10 business days to permit any cyclops shareholder who previously tendered and now wishes to withdraw to do so
he said the ministry sent a proposal today to the cabinet that the tariffs on such products as cosmetics bicycles apples radios garments soybeans and television sets be cut by between five and 50 pct
the payment date is may 27
it crossed the four mln shares at 45 off 1 8
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
but the government has ruled out a price rise
the company named kidder peabody and co inc as lead manager and robertson colman and stephens as co manager of the offering
ual ual said trump talked with ual chairman
crow reiterated the banks previous statements that inflation remains a major priority in setting monetary policy and said only zero inflation would be acceptable
davy corp unit wins india smelter contract
hernandez declined to say whether the three or four countries he said were overproducing bordered the mideast gulf
the house banking committee adopted legislation to direct the us treasury to begin negotiations aimed at seeking regular adjustment of exchange rates by countries such as taiwan and south korea whose currencies are pegged to the value of the us dollar
terms were not disclosed
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
however gold stocks in the us and canada have risen far faster in recent months than the price of the metal itself causing concern among analysts that a correction lies somewhere in the future
it will redeem the 12 3 4s at 11052 pct of principal plus accrued interest
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
what counts is the abandonment rate the difference between acreage planted and acreage harvested
a boliden spokesman told details of the announcement would be given at a news conference by chairman rune andersson at 1030 gmt today
output in 1986 fell from 415 mln tonnes in 1985 and a record 62 mln in 1984 official figures show
usda comments on export sales 
texas petroleum corp said it issued 144 mln shares of restricted common stock in exchange for oil and gas properties and joint ventures located in the us and overseas
yeutter emphasized the importance of the new multilateral trade negotiating round and called on congress to quickly approve an extension of us negotiating authority
the six underwriters will be joined by 11 other financial institutions in the tender panel
it said the new unit has started importing plastic pans and other products for the packaging of seafood and will also market rigid plastic shipping pails for a variety of packaging uses
international thomson organisation ltd year shr 33p vs 38p
a source close to the transaction said the purchase prices is being set at more than 55 mln dlrs
christian of the us league of savings institutions said underlying housing demand remains strong
the expected shortage and stronger demand for rubber goods especially condoms and surgical gloves by consumers is likely to push up prices the malaysian rubber exchange and licensing board said in its latest monthly bulletin
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
uap inc said it has acquired slater auto electric ltd with two ontario stores and united diesel engine parts ltd of dartmouth nova scotia for undisclosed terms
minstar inc said it is still interested in acquiring borg warner
its official purchasing agencies will buy cotton produced in excess of that originally contracted for it added
cable and wireless restructures hk units
the european community commission has charged the united states with breaking international trade rules by excluding dutch made fibres from the us market and said it would take the issue to the world trade body gatt
1986 figures restated
he has already announced his intention of cutting the deficit to 100 billion francs in 1989
shr four cts vs five cts net 85292 vs 109285 revs 2916128 vs 474819
south african gold holdings rise in march
integrated igng field trials approved
in this connection they welcomed the proposals just announced by the governing liberal democratic party in japan for extraordinary and urgent measures to stimulate japans economy through early implementation of a large supplementary budget exceeding those of previous years as well as unprecedented front end loading of public works expenditures
nomura securities international inc and daiwa securities america inc were named primary dealers in us government securities in december they noted
computer task group inc tsk 3rd qtr net
bangemann rejects call for early tax cuts
president ira stepanian told the shareholderss meeting the banks total loans to argentina brazil and mexico totaled 875 mln dlrs at the end of 1986 37 pct of its primary capital
corn acreage will probably level at around 65 mln acres as long as government program provisions remain the same analysts said
miti also urged makers to boost chip imports
the bundesbank is expected to allocate more than the 34 billion marks which is due to be rolled over dealers said
minorco mnrcy half year dec 31
citibank norway unit loses six mln crowns in 1986
some experts feel bonny light is still overvalued and say its price should be cut by between 50 cts to one dlr a barrel
dayton hudson corp 4th qtr oper shr 124 dlrs vs 155 dlrs
waste management says waiting period ends on its chemlawn bid
stanley katz said
the museum said it is hopeful of filing a plan in the near future
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
malaysias state oil company petronas will cut oil production to 420000 barrels per day bpd from may 1 trade sources said
federal paper board co inc fbo offering of 28 mln shares of cumulative convertible preferred stock through an underwriting group led by first boston corp
in january texas commerce acquired a failed bank in montgomery county adjacent to the houston metropolitan area and earlier this month opened a new bank in san antonio
it said its dealings in the companys stock are on behalf of its clients
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
indonesia is unlikely to import copra from the philippines in 1987 after importing 30000 tonnes in 1986 the us embassys annual agriculture report said
jacobs who made his comment in response to an enquiry did not comment further
diplomats call us attack on oil rig restrained
grumman corp gq in payout
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 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
commerce and defense officials said baldrige and weinberger feared the us military is already leaning too heavily on foreign electronic support
the mines contract expires july 1 and the smelters on july 21
china daily says vermin eat 7 12 pct grain stocks
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
the worlds worst maritime disaster was in wartime that took 7700 lives when the german liner wilhelm gustloff was torpedoed by a soviet submarine in january 30 1945
bankers said the diplomatic phrase belied the deep anger and frustration on the committee over brazils unilateral move last friday and its subsequent freeze on some 15 billion dlrs of short term trade and interbank lines
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
the cera survey of congress shows that the oil import fee will face a stiff uphill battle
higher bids were met in full
waiting period ends on waste management wmx bid
braceras said that last year brazil bought 800000 tonnes of argentine maize but in some years it had not imported any from argentina
palmer said the cabinet was happy with the statement from commonwealth leaders in vancouver that fijis membership of the commonwealth had lapsed
the wheat is for shipment may 1 10 1987
salvino also said steadier crude prices and the reduced rate of refinery production should increase product prices and lead to a return to more normal profit margins
dana corp dcn and unit downgraded by moodys
equity silver said the silver remains to be delivered under its sale agreement with placer after delivery of its 750000 ounce minimum commitment for 1987
they said it was believed coniston partners and the pritzker family of chicago were buying the stock
it is diverting to jacksonville florida with its cargo of 58000 tons of coal
alcan bertone make aluminum structure car
it said it remains willing to negotiate all terms of the proposed acquisition
in addition to the question of the exchange rates at which britain should enter the emss core exchange rate mechanism there was also the impact of sterling membership on the system to be considered he said
immediately available financial information on stauffer which is wholly owned was limited he added
brown forman bfdb sets stock split ups payout
chairman heineken said the companys seven year efforts to penetrate the soviet market had finally resulted this week in a contract that relaxed some of the restrictions they faced
the central bank aims to keep the guilder stable around its parity value within the european monetary system of 112673 guilders per 100 marks
rivkins firm is 50 pct owned by hongkong and shanghai banking corp hkbhhk unit wardley australia ltd and plans a public float of between 25 and 30 pct
the government had also failed to reduce overseas debt and debt ratios and cut the balance of payments deficit
cyclops cited its agreement to be acquired by britains dixons group plc for 9025 dlrs a share under a tender offer that expires midnight march 17
the issue is the fourth for payment this year
in a discussion of the offer warburg pincus said moorhead told the meeting there are no plans to raise the 350 dlr bid
the deficit on invisibles on unsmoothed figures eased to 215 mln dlrs from 248 mln revised from 277 mln in december and 252 mln in january 1986
in january the senate approved a bill that would make 1987 winter wheat farmers eligible for disaster assistance payments
about 11 bilion dlrs in allied assets had been targeted for sale by dec
still others believe that producers will not be hard pressed to aggravate the overburdened coffee stock situation in the us in the near term
he said in a statement the facility would purchase debt of a debtor nation at a discount and then sell the loans to private investors
dome dmp plan may force sale of encor stake
frontier texas corp 2nd qtr nov 30 net
a survey of 19 provinces and seven cities showed vermin consume between seven and 12 pct of chinas grain stocks the china daily said
in a breakdown of costs exxon said that operating expenses slipped to 92 billion dlrs in 1986 from 97 billion dlrs the previous year and exploration expenses including dry holes slipped back to 12 billion dlrs from 15 billion dlrs over the same period as the number of wells drilled was lower
the bank said the issue would be placed with international institutional and private investors
this is totally by surprise said debra strohmaier a chemlawn spokeswoman
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
woodside petroleum ltd wplas said its 1986 net loss largely reflected the drop in oil prices combined with a large tax provision
with temperatures expected to fall to near 0 degrees f over the next two nights some light winterkill is possible accu weather added
standard and poors said it is reviewing mepc plcs two a rated eurobond issues totalling 125 mln stg for a possible downgrade
last months unemployment rate was down from the 72 pct level in march 1986
talman home federal tlmno 3rd qtr oper net
bank of england to monitor when issued trading
argentina sets new support prices for grains
in 1980 the fcc disqualified rko as licensee of wnac tv in boston citing anti competitive trade practices and inaccurate financial reporting to the agency causing renewals previously granted to rko in new york for wor and los angeles for khj to be denied
valero natural gas vlp offering underway
harcourt brace said it will only pursue the acquisition if a mutually satisfactory merger agreement can be negotiated
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 products include fruit juices purees and pulp some tomato products peanuts prepared beef products and beans
the citicorp unit said its higher offer came to about three dlrs more for each cyclops share outstanding
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
cigra inc won a contract for a cargo of 56000 tonnes priced at 7941 us dlrs per tonne fob pacific northwest port for delivery on july 5 and 20
the sparks study said that while certificates permit market prices to fall below loan levels these lower prices increase commodity usage and reduce the net costs of certificates versus cash
total factory production and consumption of tallow in the 1987 marketing season which began jan 1 vs the 1986 season were as follows in mln lbs production 1987 1986 inedible 8930 9201 edible 2083 2747 consumption inedible 4887 4737 edible 1371 1764
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
russo says it acted as broker for sofer
they added they expect the bank to allocate between 40 and 45 billion guilders
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
the personel and operations remain the same the exchange added
balance sheet total increased by 228 mln marks to 284 billion
the company said conditions to the twa offer include twa obtaining financing the usair board redeeming defensive rights issued to shareholders last year and acting to render the fair price provision contained in usairs charter inapplicable to the twa offer and transportation department approval
he estimates phelps will earn 245 dlrs in 1987 and 445 dlrs in 1988 including tax benefits versus 179 dlrs in 1986
ecuadors oil minister javier espinosa was quoted today as saying venezuela will export the oil on ecuadors account and remit the revenues to quito
kuwait had earlier considered having both ussr and us escorts but the us was unwilling to give the soviet union a naval role in the region the newspaper quoted the officials as saying
shr 25 cts vs 21 cts net 28 mln vs 23 mln revs 1350 mln vs 1190 mln nine months shr 80 cts vs 70 cts net 89 mln vs 77 mln revs 4077 mln vs 4037 mln
the state owned minerals and metals trading corp will send a team to japan next week to negotiate an iron ore export contract for 1987 88 beginning april 1 trade sources said
the negotiators also agreed to cut 16 billion from the farm budget in fiscal 1989 and 245 billion in 1990 for a total of 53 billion in saving over three years sources said
this business changes with the construction cycle and so increases gypsums cash flow vulnerability moodys said
it said selling offers will be due at 1100 hrs est march 24
the depressed economy forms the main backdrop to general elections next month in indonesia a major producer of rubber palm oil tin timber and coffee
the northeast of the country was also hit by heavy rains
that angered washington
they know that controlling inflation will make industry more competitive and bring down unemployment in the long run he added
iowa beef closed the proessing plant indefinitely in mid december because it said it had no alternative to threats by meatpackers to disrupt operations
the numbers shipped to the united arab emirates and bahrain fell however
it said the unit is a catalytic reformer which converts low octane components of gasoline into high octane components for use in super unleaded gasoline
the cbi said the positive balance between firms expecting production to rise and those forecasting a fall at 34 pct was the highest such figure recorded since 1977
the asian development bank adb will open an office in jakarta later this year to speed up work on indonesian projects bank vice president s
in the year ago first quarter the company earned 231 mln dlrs or 75 cts a share
the plant is supposed to break even if prices stay at 1500 dlrs a tonne
febres cordero said up to a total of 1000 people died or were missing in avalanches and mudslides during the march 5 earthquake
vazquez rana who is both chairman and chief executive officer of upi is the publisher of a successful chain of 62 newspapers in mexico chairman of the mexican olympics committee and chairman of the worldwide association of national olymnpics committees
s and p cited the weekend bankruptcy filing
wolverine world wide inc said it signed a letter of intent to sell to an investment group two subsidiaries kaepa inc an athletic footwear maker and its international marketing arm kara international inc
clark equipment co said it has purchased 1339000 shares of its common stock from an investor group led by arthur m
henley group said in a 10 k filing with the securities and exchange commission that it has 79 mln shares or close to five pct of santa fe southern pacific corp a spokesman said
talks with the possible bidder are expected to be concluded shortly becor said adding its board will evaluate all then existing offers at that time
freight transported westward over the atlantic rose seven pct to 94300 tonnes while eastbound volume rose 31 pct to 74600 tonnes
but its still too early to talk about disastrous losses
the company said more than 30 lending institutions participated in the bidding for the bonds and that 25 pct of the issue was placed with the us unit of a canadian firm
he said that recently there appeared to have been some speculative buying of the bonds from the us but that european investors had been overall sellers
southern hospitality corp shos 3rd qtr feb 28
inflation plan initially hailed at home and abroad as the saviour of the economy is limping towards its first anniversary amid soaring prices widespread shortages and a foreign payments crisis
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
the exchange they said will be made on the effective date of the merger which must be approved by both companies boards and high plains shareholders
henry said he had anticipated national distillers would net only 600 mln dlrs at the most from the sale of the two liquor businesses
bp petroleum development norway ltd operator of the ula field said september output rose to 86727 bpd after dropping to 27237 bpd in august because of the shutdown
no details were given
others said there were technical reasons for the sharp dollar drop
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
society for savings bancorp socso 3rd qtr
in the industrial countries gross national product a measure of all goods and services was expected to decline to 23 pct this year compared with 24 pct in 1986 the imf said
negotiators at a united nations conference on a new inra resolved differences and agreed last saturday on basic elements for a new pact to replace the current one which expires in october
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
he said the 900000 bpd shortfall last february was based on the verified figure for 10 out of opecs 13 members adding that nigeria alone had a shortfall in production of 100000 bpd
supported by the reagan administration china argued that it could not be held liable for a debts involving bonds issued in 1911 and that it enjoyed absolute immunity
a tax on gasoline he said would fail the first criteria by not increasing domestic production
jamaica buys us pl 480 corn wheat and rice
the multi family area which typically represents rental units remained weak due to high vacancy rates and increased capital costs of such units following tax law changes effective january 1
dufour said yes when asked whether the report was only a rumor but said the company was not prepared to comment further
net sales of 117700 tonnes of soybean cake and meal fell 31 pct from the previous week and 38 pct below the four week average
rubber stock manager says quality acceptable
the report gave the targets for various crops with estimated harvested crops in 1986 87 in brackets as following in mln tonnes rice 65 60 wheat 49 49 coarse grains including sorghum and millets 32 29 and pulses 14 13 despite failure of monsoon rains in recent years it was possible to maintain higher foodgrain production signifying growing resilience in agricultural sector the report said
the official china economic news quoted the figures as showing tea exports rose 97 pct to 8474 tonnes during the month
federal reserve board chairman paul volcker said reducing the federal budget deficit was a more important goal for congress than drafting trade legislation
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
alcan to close west german smelter
tvi corp tvieo year 1986 loss
yugoslavia which refinanced part of its 197 billion dlr debt in talks with creditor governments last week has begun talks with banks on rescheduling its commercial debt the official tanjug news agency said
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
note results for year 1986
the company said 521508 shares may still be repurchased under the 1985 authorization
all figures are subject to rounding
he told a lower house budget committee in parliament that the six nations have taken measures including market intervention to support the dollar above that level
berliner bank ag has suffered losses of between 10 and 100 mln marks through credits granted by its stuttgart branch by officials there exceeding their powers a bank spokesman said in answer to queries
it said the offering will be underwritten by smith barney harris upham and co inc ef hutton and co inc morgan stanley and co inc dean witter reynolds inc and piper jaffray and hopwood inc and will provide a security convertible into apache at any time prior to maturity in the year 2012 unless redeemed earlier by the company
proposed japan tax may dampen tokyo gold trading
chesapeake utilities corp chpk regular div
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
malaysia bails out another commercial bank
on canadas stock exchanges energy shares have soared to their highest levels since 1983 with many issues trading at record highs
schlueter said after a routine cabinet meeting yesterday if economic tightening up is necessary we will do it the government has already imposed three austerity packages since december 1985 in an attempt to bring down the external current account deficit which rose to a preliminary 345 billion crowns in 1986 from 291 billion the previous year
unemployment in portugal held steady at 96 pct in the first quarter of 1987 after the same rate in the last quarter of 1986 the national statistics institute said
painewebber pwj unit ups shaer shoe shs stake
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
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
ferry disaster may rank among worst tragedies
bear stearns and co and merrill lynch capital markets have tentatively been named as underwriters
a spokesman said no specific figures had been forecast
meditrust mtrus raises quarterly
he said american telephone and telegraph co long distance rate cuts had cut into mcis fourth quarter performance but added theres going to be a continuing impact on profits but we expect this quarter to be better than the fourth quarter the current quarter ends march 31
kenya signs pact to establish own shipping line
they said the fed probably will add the reserves indirectly by arranging around two billion dlrs of customer repurchase agreements
he noted that morgan has already set up a brokerage subsidiary to deal in loans to less developed countries
under the deal argentina will benefit from improved quotas on exports of beef to the ec
shoneys inc shon sets payout
montedisons agrimont unit 1986 earnings
don hanes vice president for communications with the national council of farm cooperatives said 5600 cooperatives exist today down from 6700 five years ago
last year one of our biggest problems was we were buying products in japanese yen
earlier unilever reported combined fourth quarter pre tax profit of 276 mln stg level with the year earlier period making 114 billion stg compared with 953 mln for the 1986 full year
ste genevieve ups offer for sullivan sumto 
borden said the other three companies being acquired are steero bouillon of jersey city nj blue channel inc a beaufort sc producer of canned crabmeat and the canned shrimp products line of dejean packing inc of biloxi miss
energy us refining
chrysler c sells bonds from its portfolio
trading in alusuisse shares was suspended on the zurich stock exchange after todays announcement by the company that it would cut its share capital by 50 pct the bourse said
the selling concession is 1 1 2 pct while management and underwriting each pay 1 2 pct
the sources said last friday that one option for britain would be to revoke licenses of japanese banks and securities companies operating in london
sierracin ser pays debt gets new loan pact
we telexed them saying that if they insisted we would rather cancel the contract and buy the product elsewhere santana said
much of the search for new gas reserves is likely to be conducted in the offshore waters of the gulf of mexico where federal leases on unexplored areas will revert back to the government unless drilling begins in the next two or three years
they said he threatened to withhold support for the ec commission plan for new limits on farm output which if breached would mean price cuts unless spain received some help
shareholders will be able to subscribe for 125 shares for each share held at a price of 375 dlrs per share
the commission estimates that up to march 13 the temporary scheme cost between 63 and 68 mln european currency units 72 78 mln dlrs this is above the 50 mln ecu 57 mln dlr ceiling originally envisaged by the ministers
the sources said they could not estimate the total volume to be purchased for april shipping because japans crushing program for april and june is unclear
the west german government had come under pressure from the united states to stimulate its economy with tax cuts
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
rather they will operate as sister companies it said
calny is the largest franchisee of pepsicos taco bell restaurants operating 143 in california oregon texas and washington as well as 15 la petite boulangerie bakeries in seattle
goody good to sell unit to union camp ucc 
uk unemployment fell a record provisional seasonally adjusted 64300 in may to a total 295 mln or 106 pct of the workforce the employment department said
stoltenberg says meeting with baker underscored monetary cooperation
however other economists disagreed saying the service sector would be able to hire workers no longer needed by the manufacturing sector over the next five years
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
italys national airline alitalia spa azpimi reporting a 146 pct rise in provisional 1986 net profit said it carried seven pct more passengers on domestic routes last year but 115 pct fewer passengers on flights from north america and canada
mcclain industries inc mccl 1st qtr dec 31 net
hungarys economy and hard currency trade have failed so far this year to reverse a two year unfavourable trend the official hungarian news agency mti said
the sunflowerseed harvest has covered 23 to 26 pct of the area sown and continues in parts of central buenos aires although at a standstill elsewhere due to rain and floods
if it suddenly needs more flexibility it will find it very hard to obtain amros nelissen said relatively small changes in interest rates and exchange rates could cause substantial flows of securities business and sharp fluctuations on the dutch capital market
six flags might sell for as much as 300 mln dlrs analysts said
but a pension payment date by banks on behalf of customers was due on monday other dealers noted
output of goods producing industries rose 16 pct in the month with virtually all the growth occurring in manufacturing and mining
ab volvo volvst said the weakening dollar caused the drop in its 1986 profits but company chief executive pehr gyllenhammar said 1986 was one of volvos best years ever
however the company said the rise in its debt ratio will be temporary and will leave its debt level within an acceptable range
smithkline also said its allergan inc eye and skin care products division can be a one billion dlr organization in the next five years that can grow at more than seven to 10 pct annually
alaska air group inc said it will offer 18 mln shares of common stock at 25875 dlrs per share
bonds closed at 786 pct on friday
cambrian and general notes relisted in london
proceeds will be used to finance acquisitions and for general corporate purposes the company said
west german government sources said rising west german money market rates could not be seen as a breach of the louvre pact
murray ohio mur sees higher first quarter net
the bill also extended the urban development grant program the national flood insurance act the rural housing program as well as several other housing programs
the offering would also result in a significant strengthening of the companys capital structure s and p pointed out
the issue is non callable for five years
dutch state loan raises 325 billion guilders
they named kuwait and the united arab emirates along with the much smaller producer ecuador among those producing above quota
shr loss 40 cts vs loss 472 dlrs net loss 3321000 vs loss 420 mln revs 4002000 vs 7788000 avg shrs 9168522 vs 8974355 year shr loss 420 dlrs vs loss 471 dlrs net loss 372 mln vs loss 411 mln revs 184 mln vs 341 mln avg shrs 9168522 vs 8991184
no force majeure on lead from capper pass
prime minister yasuhiro nakasone will make an official week long visit to the united states from april 29 and hold talks in washington with president reagan chief cabinet secretary masaharu gotoda told reporters
a group of investment firms told the securities and exchange commission they raised their stake in intermedics inc to 1721900 shares or 168 pct of the total outstanding from 1565900 shares or 152 pct
a merger at the tender price that has been approved by the argosystems board is to follow the offer
the deadline for the start of the new pact is january 1989
but the spokesman said the commission will consider whether to propose it be replaced by an all year round system
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
there will not be a share reserved for foreign investors
they agreed on a pricing system aimed to stabilize the market around 18 dlrs a barrel
norstar nor sets acquisition for stock
biotechnology development biod 4th qtr loss
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
closing was expected by march 31 they added
mthly div 66 cts vs 66 cts prior pay march 31 record march 16 note franklin minneosta insured tax free income fund
wendys also fumbled when it introduced a high priced breakfast which it has since withdrawn analysts said
slower than expected growth in britains narrow m0 money supply measure in february will help spur a further cut in uk interest rates if a surge in sterlings value requires such a move economic analysts said
ecuador says it will pay debt when it can
edf plans to oversee the program itself with goldman sachs international corp morgan guaranty ltd and salomon brothers international ltd acting as dealers for the general program which will be aimed at institutional and retail investors
numbers released by the fed today were all in line with expectations and similar to the data for most of this year
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
metals activities contributed 83 mln stg to net profit
the government brokers supplies of a 400 mln stg issue of two pct treasury index linked stock due 1992 were exhausted in early trading on the uk government bond market this morning the bank of england said
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
agas german contended that despite the drilling decline much of us proved reserves could be brought to production quickly through developments such as the infill drilling which permits more wells to be drilled in proved reserve basins
harper and row publishers inc said its special committee of independent directors has received expressions of interest from a considerable number of domestic and foreign firms with respect to restructuring or acquisition transactions with the company
texas international tei completes reserve sale
the arrangement protects amr in the case of an unexpected development such as a severe downturn in the economy
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
fourth quarter and full year 1986 reflect non recurring charges from change in control at company
growth was generated mainly by the manufacturing sector it added
the us house of representatives approved a bill that requires the reagan administration to provide congress with a report on its gulf policy but does not place any restrictions on its actions
about one third of the deficit was with japan
contradicting earlier reports from strike headquarters in rio de janeiro seamen in santos said the strikers on board ships here were not running out of food
a last minute attempt by colombia the second largest exporter to rescue the talks with a compromise interim proposal could not bring the two sides together
baker told a senate appropriations subcommittee on foreign operations as a policy matter we oppose loans for production of commodities in oversupply the senators cited a 350 mln dlr world bank loan made to argentina last year to help it increase its agricultural exports by one billion dlrs a year by 1989
doumeng last month said the agreement was to exchange one billion dollars worth of goods
the ecs so called third country meat directive will require foreign meat processing plants to comply fully with ec inspection standards beginning april 30
genova inc said it signed a definitive agreement for the previously announced merger with genova products inc under the agreement genova products will pay 5 3 8 dlrs a share for the 29 pct of genovas outstanding common shares it does not already own
they said the size of the intervention was relatively modest so far but it was a clear indication that the us remained committed to the late february paris currency stabilization accord which was reaffirmed in washington last night
microdyne corp mcdyo 2nd qtr may three net
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
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
wppss attorney ron english said the system was advised by sec staff attorneys that the five sec commissioners would be asked to charge wppss in connection with its official statements about its plans to build its no
norsk hydro is issuing a 100 mln dlr bond due april 9 1997 carrying a coupon of 8 1 4 pct and priced at 101 5 8 said swiss bank corp international as lead manager
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
combustion paid about 218 mln dlrs for accuray a maker of computer based measurement and control systems used in pulp and paper mills
shr 27 cts vs na net 3560 mln vs 2389000 six mths shr 57 cts vs na net 7881000 vs 5415000 note year ago per shr figures not available as bank converted to stock ownership april 29 1986
santana said if the saudis do not accept brazils terms by monday then petrobras will negotiate elsewhere
carolian systems international inc said it anticipates profit for fiscal 1987 ending june 30 will be lower than fiscal 1986 earnings of 410000 dlrs despite an expected revenue increase of 37 pct to more than 35 mln dlrs
but most measures of financial risk deteriorate it said
but he added that if the dollar dropped further there could be inflation in the united states
saudi arabias king fahd wants stable oil prices
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
she also said that all of exxons opertations were under constant review
he said the port would be closed until today when they hoped to refloat the ship on the high tide
the total includes four billion francs worth of 13 week bills 25 billion francs of two year bills and three billion francs of five year bills
interconnect said it made the offer to the board of directors of gates learjet on march 9
but it left open that it might make other changes in gencorps operations after it completes the merger
telecom plus international inc said the closing of the sale of its 65 pct interest in tel plus communications inc to siemens ag has been delayed
cardis cds expects significant year loss
chile signed an agreement with banks last week and there was also an agreement with venezuela on rescheduling principal payments on previously renegotiated debt
exports accounted for 653 pct of turnover in the quarter against 664 pct in the same quarter of 1985
outboard marine corp is raising 100 mln dlrs via an offering of sinking fund debentures due 2017 yielding 915 pct said lead manager salomon brothers inc
industry sources told yesterday that fundamental was close to acquiring the government securities brokerage division of mki a major broker of corporate bonds
year ended december 31 1986
all of the economists agreed that the feds major concern now is recent weakness in the dollar which early this week was heavily supported by central banks
the pound closed on thursday at 40700 41200 to the dollar compared with wednesdays close of 38400 38600
western federal savings bank wfpr ups payout
ongpin said manila would have to repay about 200 mln dlrs a year when amortisations on the 925 mln dlr loan came up
the bank of canada will buy a minimum of 100 mln dlrs of the new issue including five mln dlrs of the 2011 maturity
one western diplomat said the two institutions had promised big support to help zambia keep its head above water
the defense electronics group designs and manufactures weapons management systems flight control systems remotely piloted vehicles and reference and navigation systems mainly for military markets
the dutch news agency said suralco a subsidiary of the aluminum company of americaalcoa wanted to reduce its work force because it had been hard hit by guerrilla attacks that cut power lines to the area in january
some banks continued to count loans as performing
shr loss six cts vs profit 55 cts net loss 414000 vs profit 3936000 sales 1094 mln vs 1268 mln year shr loss 175 dlrs vs profit 55 cts net loss 12589000 vs profit 3965000 sales 3417 mln vs 3895 mln note year results include 140 mln dlr restructuring charge in 2nd qtr of 1986
ico quota talks continue outcome hard to gauge
subscriptions on the loan close at 1400 gmt on march 13
the smelter continues to operate with available concentrate from stockpiled supplies noranda said
no french reflation sources close to balladur say
sosnoffs report on the offers he received for his caesars world shares were amended to his official offer to purchase the company as well as reported to the sec
gasper said it became apparent congress was ready to pass legislation that would have rescinded the fee increase
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
the bulgarian foreign trade bank has signed with a group of japanese banks a 40 billion euroyen equivalent loan which is the largest syndicated loan denominated in euroyen for a european borrower bank of tokyo ltd said as one of the lead managers
compared with the same months of 1986 industrial production in january and february 1987 fell 1 1 2 pct the ministry said
i dont think these average earnings numbers are a major problem agreed chase manhattans marshall
finance units gain from parent company says s p
on that basis the trade surplus declined slightly in february to 916 billion dlrs from a record 958 billion in january
lately both nations have said they will take steps to defuse incipient trade tensions
it said the decision specifically excluded from a purchased gas adjustment filing by the pipeline costs related to amortizing payments made to producers to reform gas purchase contracts
the agencys holding of us government securities yielded a return of 207 pct for the year significantly more than either the 141 pct earned on the total bond portfolio or the 135 pct for all funds under management
salomon brothers inc co managed the deal
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
hallamore san bars director of corporate development 1312500 dlrs and 1087500 dlrs respectviely under agreements entered into in october 1983
fab industries inc fit 1st qtr feb 28 net
proceeds will be used principally for acquisitions of companies that complement or expand thermos existing line of business and for general corporate purposes it said
mony real estate investors trust said its investment portfolio consists of 1371 mln dlrs of mortgages with an average maturity of less than six years 437 mln dlrs of real estate equities and 27 mln dlrs of foreclosed real estate
but with unemployment nearing 11 per cent last month and still rising government supporters and some economic analysts said they were confident chirac could resist union pay demands
ausimont compo nv aus 4th qtr net
the contract period runs from april one through july one the doe said
coca cola enterprises files to offer 500 mln dlrs of debt
the bonds which are available in denominations of 1000 and 10000 stg will be listed on the london stock exchange
lo said csbc delivered the hulls of two 2200 teu twenty foot equivalent unit container ships this year to onomichi which would complete production
jordans government asked banks in early 1985 to comply with the new capital requirement raised from three mln dinars by the start of 1986
the finance bill will have provisions for the implementation of measures announced in november it said
shr two cts vs two cts net 407396 vs 376243 revs 5341353 vs 4292819
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
canadian satellite communications six mths net
the partnership said the payout is the largest quarterly cash distribution allowable under terms of its letter of credit
he recommended congress not lock the administration into formal procedures for international exchange rate negotiations to achieve specific exchange rate goals
usda florida orange report considered bearish
the company also said it intends to continue paying its common stock dividend at the current annual rate of 192 dlrs per share
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
the program will add 600 mln pounds per year to usis existing capacity of 32 billion pounds the company said
there are 12 importing and 44 exporting members of the iso
between february and october of 1986 the number of producing oil wells in california fell 14 pct to 43521 from more than 50000 said bill guerard of the california energy commission
the industry is deeply divided between those who support an oil tariff and those who believe tax incentives are better said daniel yergin director of cambridge energy research associates which recently completed a survey of the us congress on energy issues
chrysler financial corp is issuing a 50 mln stg eurobond due april 30 1992 paying 9 1 2 pct and priced at 101 1 8 pct lead manager union bank of switzerland securities said
drexel burnham lambert inc and donaldson lufkin and jenrette securities inc are co underwriters of both issues which allied expects to offer in early june allied said
diplomatic sources frustrated with what they see as mpts obstructionist and protectionist posture have characterized the ministry as feudal
last year barbados boosted its capital market borrowings with a small private yen placement in the japanese market
the strength of the economy and broad money growth are making it more difficult to see one in the near term said chase manhattan securities economist robin marshall
the ec commission granted 25000 tonnes of free market barley export licences at todays tender and 80000 tonnes of french maize grain traders said
london grain freight enquiries
included in the programs goals are strengthening private sector incentives aiding macroeconomic management and unspecified changes in transportion and agricultural policies the bank said
the ruling gatt council yesterday adopted a dispute panels report and ruled that the us superfund tax on oil imports breached trade rules
baker in its first fiscal quarter ended december 31 lost 342 mln dlrs on revenues of 2977 mln dlrs
laidlaw financed the acquisition of gsx by its us subsidiary laidlaw transportation inc with the proceeds of a 200 mln canadian dlr preferred stock issue and borrowing
the agreement reached at a long session of opec ministers in december last year pegged the groups crude oil output at 158 mln bpd for first half 1987 at fixed prices of around 18 dlrs a barrel
bank of france leaves intervention rate unchanged at 7 3 4 pct official
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
under the agreement signed february 27 venezuela extended payments on the debt from 12 to 14 years while the interest rate was lowered from 1 y 1 8 to 7 8 of a pct over libor
its profit figures were stated before interest charges
south korea moves to slow growth of trade surplus
nissan motor manufacturing uk ltd has reached agreement with lombard north central plc of the uk to build plants and boost the local content in nissans uk produced cars to 60 pct in 1988 from 40 to 50 pct the nissan motor co ltd nsant said
i think that an increase would be totally wrong
german banks see low interest rates continuing
the issue is lead managed by morgan grenfell and co ltd with daiwa singapore co ltd and morgan grenfell asia ltd and is syndicated among leading domestic and international banks and securities houses
japan does not intend to cut discount rate sumita
traders cautioned that views on the impact of the buffer stock were all prognostication and that no one could hope to predict accurately what the result would be
japan consumer prices unchanged in february
michel lefebvre vice president of operations said noranda will operate the mine at about one third of its normal 72000 short ton annual finished capacity using above ground reserves until it decides whether to keep the mine open
technigen platinum corp said it initial results of a 13 hole drilling program on its rm nicel platinum property in rouyn noranda quebec indicate extensive near surface zones highly enriched in gold platinum and palladium were found in rocks on the periphery of a sulphide deposit
countrywide credit ccr sets higher dividend
at the annual drexel burnham lambert construction conference here hovnanian executive vice presidnt ara hovnanian said the company expects an earnings range of between 235 dlrs and 255 dlrs per share for fiscal 1988
a companion measure reducing the proportion of funds which banks must invest in specific areas also takes effect tomorrow
eia says distillate gas stocks off in week
it said it bought the 39000 shares of stock at 530 6875 dlrs a share for investment purposes
projected issue price is around par against 9950 for the march bond they said
this compared with the last issue which had a 5 3 4 pct coupon priced at 99 3 4 pct for a yield of 575 pct
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
land entered into the conservation reserve program will be ineligible for farming for ten years and must be planted with permanent vegetative cover
it is possible that final data will show a larger draw particulary for march it said
therefore we need more money to invest on new projects gros said
no wealth or income taxes are payable on nine pct seven year bonds but those carrying 13 pct interest on 10 year bonds are subjected to income tax if interest amountm exceeds 7000 rupees a year
heart federal savings and loan association said its board declared a two for one stock split payable april 30 to holders of record april 15
this year easter is being observed on april 19 which is three weeks later than last year
ecuador expects oil production to be suspended for four months as a result of the damage and has asked venezuela to help by supplying 50000 barrels per day while the pipeline is repaired
he must follow a policy that is not entirely his own said another economist
two affiliated investment firms and the investment funds they control said they raised their combined stake in ldbrinkman corp to 653600 shares or 109 pct of the total outstanding from 585600 shares or 97 pct
caremark inc and baxter travenol laboratories inc jointly announced that caremark shareholders will vote on july 31 to approve the previously announced merger with baxter
diagnostic products dpcz sees earnings growth
malaysia also is shifting plantings to sabah and sarawak where the rate of expansion is higher than in the peninsula but where yields are lower he said
keefe said the next level of significant chart resistance will be at 101 24 32 to 101 28 32
lumber imports from canada fell 300 mln dlrs or 33 pct because of a 15 pct duty on imports from canada the department said
gencorp said it withdrew the proposals so that it could focus its attention on the takeover offer
holly corp hoc 2nd qtr jan 31 loss
dollar value appropriate bundesbank official says
di giorgio corp dig qtly dividend
the thrust has shifted to those newly industrialized countries nics amid signs the dollars steep drop against the currencies of japan and most ec nations previously the main focus of the us drive to cut its trade gap is beginning to close the competiveness gap for american goods
he said that the extension of the short term lines would not be carried out through an official instrument as there was not time to complete the legal requirements
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
morgan guaranty trust co of new yorks 100 mln canadian dlrs of 8 1 2 pct receipts for government of canada bonds due 1994
inro council meeting adjourned until thursday
keating told a financiers dinner that februarys 750 mln dlr deficit against januarys 123 billion was in the groove of the governments expectations
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
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
she cited a number of reasons besides possible crop problems that might point to additional soviet import demand
the other proposals it said would provide for greater long term stability and cohesiveness for the gencorp board
the economy ministry is holding its inflation forecast to five pct in spite of minister carlos solchagas doubts last week on whether this target could be maintained if wage settlements continue to rise above the governments recommended five pct ceiling
ecuador says suspends oil exports due earthquake
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
securities houses banks insurance companies and consumer credit companies are barred from cp issues they said
underwriters are levesque beaubien inc wood gundy inc burns fry ltd and nesbitt thomson deacon ltd
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
as reported forrest gold owns two mines in western australia producing a combined 37000 ounces of gold a year
proceeds of the offering will be used to reduce bank debt the company said
jim walter corp said it completed the acquisition of owens corning fiberglas corps mineral ceiling and fiberboard plant in meridian miss
qtly div 15 cts vs 15 cts previously pay june 19 record june one
the bank earlier reported second quarter profit fell to 1162 mln dlrs from 1251 mln dlrs a year ago
31 1988 to pay for the aquisition of allied by campeau
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
for the first time in several years a recession in 1988 or 1989 is more than a remote possibility van dyke said
peoples bancorporation peop quarterly dividend
the us has excessive expectations
algonquin gas transmission co a unit of texas eastern corp said it has filed for federal energy regulatory commission approval of new rate schedules
1985 net includes gains on sale of west los angeles real estate of 650000 dlrs in quarter and 1471000 dlrs in year
henley heng to issue subsidiarys shares
cojuangco said the coconut industry investment fund ciif and 14 mln farmers were the rightful owners of the shares
shr 124 dlrs vs 66 dlrs net 382 mln vs 201 mln revs 4191 mln vs 3338 mln nine mths shr 350 dlrs vs 174 dlrs net 1077 mln vs 53 mln revs 12 billion vs 940 mln
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
greenspan said today that the dollar appeared to be nearing a bottom but the market will bear in mind his remarks in chicago last week that the dollars recent move upward was a technical reaction and that it would trade significantly lower analysts said
us warns iran begins escorting tanker convoy
merrill said it was disappointed by moodys conclusion
japan britain disagree on telecom merger
the scheme will pay for the disposal of one mln tonnes of unwanted butter by selling it at knock down prices turning it into animal feed or exporting it at subsidised prices
shr 105 dlrs vs 27 cts net 4193000 vs 1070000 revs 9377000 vs 9444000 note 1986 net includes gain two mln dlrs from reduction of loss allowance on undeveloped land
bigelow said the textbook business which normally has its highest profit in the third quarter and incurs a loss in the first quarter will have an adverse impact of 15 mln dlrs on book publishing income for the first quarter
were looking at 10 to 15 pct earnings growth for frito lay in 1987 a trend that should continue through the decade
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
oper shr profit 92 cts vs loss six cts oper net profit 1351000 vs loss 112000 revs 228 mln vs 287 mln avg shrs 1465926 vs 1968601 year oper shr profit 181 dlrs vs profit three cts oper net profit 2837000 vs profit 59000 revs 848 mln vs 699 mln avg shrs 1569287 vs 1980432 note current qtr figures exclude gain from discontinued operations of 533000 dlrs or 37 cts per share vs loss of 480000 dlrs or 24 cts per share
soviet sugar imports higher in oct nov
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
remains president and chief executive officer
denmark had total foreign debt of over 260 mln crowns at the end of 1986
de tomaso industries inc dtom year net
fluor flr and units downgraded by s p
cellular inc celso to sell unit take gain
he also expressed concern that the combined companies might be required by the governments conditions to license some of its technology to any purchaser of the assets
phoenix financial phfc buys data access stake
january 1986 imports compared with 153 billion guilders in december and fell 18 pct from 174 billion in january last year
the price change was decided upon last week and will be effective today he said
in the note to its 1986 financial statement american century said it considered the five mln dlrs collectible making its loan loss provision less than required
the margin money for other red bean months will remain unchanged at 60000 yen except new distant august for which the requirement will also be set at 60000 from march 2
i believe obviously if gaf takes over borg warner at the level it is proposing it would enhance gaf share values substantially said oppenheimer analyst charles rose
as part of the deal medco will split its stock five for two
profit from participations 11 mln vs 15 mln
rowe price umbrella or among outside money managers collins thinks stocks are better investments than bonds at this time
the statement said its results in 1986 were affected by unsatisfactory selling prices for metals and oil as well as by poor use of capacity in the supply ship sector
the south louisiana sweet grade of crude was reduced to 1685 dlrs a bbl
moodys cuts texas air tex affirms eastern
a house taxwriter said energy secretary james herringtons outrageous plan to restore an old tax break for oil companies was both bad tax and energy policy
japan sets aside yen funds to prevent dlr fall
the company said its new posting for light sweet crude oil at edmonton is 2560 canadian dlrs a barrel
however others were less worried
us treasury secretary james baker said recently that he expects a reduction in japans trade surplus this year
the takeover battle for the toulouse based company which controls eight pct of the french industrial gas distribution market began on april 2 with an offer of 2100 francs per share from union carbide france uk agas offer which puts a price of 587 mln francs on the company closes on june 24 and the results will be announced on july 21
techamerica group inc tch 4th qtr loss
the range of the value of the reserves is attributed to the wide range of grade estimates of the ore the company said
if the tender offer is successful warburg wll own about 59 pct of symbion
uk feb retail prices up 04 pct base revised year on year rise 39 pct official
allocations will be made first for non competitive bids from primary dealers prepared to accept average yields on up to 500000 dlrs worth of notes and bonds and an unlimited volume of treasury bills
the strike is over deadlocked wage negotiations
towle manufacturing co qtow year loss
brown and co would receive newly issued united security stock
yield on 180 day saudi deposits rises
rayrock to issue 24 mln dlrs of notes
icco buys 5000 tonnes cocoa for buffer stock
pacificorp credit inc subsidiary of pacificorp ppw shelf offering of up to 250 mln dlrs of debt securities including notes and debentures at prices and on terms to be determined at the time of the sale
the statistics office said producer prices for liquefied gas fell 10 pct in may from april and heavy heating oil prices declined 53 pct while lead prices rose 23 pct and silver prices increased 13 pct
yield falls on 30 day sama deposits
dealers quoted one week at eight seven against an early 9 1 2 7 1 2
tm communications tmci completes purchase
they now range from 1775 pct to 185 after a recent series of reductions since late march following an easier trend in short term money market rates
the company has 10855 of the 5 7 8 pct preferred shares outstanding it said
brazil is living through a crisis at the moment and it is not conceivable that exports be hit he said
hong kong cd market shuts down after new issue
the trust was formed at year end 1986 to facilitate the sale of hilton international
februarys weather is usually more adverse for home building
swedish trade surplus rises in february
business computer bcsi had 4th quarter profit
results restated for pooled acquisitions
certainly the movement of the yen is causing some economic turmoil in japan he said
but he added if the issue of rice is to be raised i would mention the feelings of the japanese people japanese politicians have said repeatedly the country cannot bow to us pressure to liberalize rice imports because the issue is too sensitive
mccarthy estimated that the fed is now targetting discount window borrowings of about 400 mln dlrs a day equivalent to a fed funds rate of around 6 3 8 pct
president of the powerful and independent west german central bank the bundesbank poehl is likely to have his contract renewed for another eight years when it expires at the end of this year government officials say
internal demand is now forecast to rise four pct against a previous target of 35 pct
ecuador squeezed by a slide last year in prices for crude its main export suspended payments to private foreign banks in january
the debentures convert to common stock at 14168319 dlrs per share or 7058 shares per 1000 dlrs principal amount through march 31
romero said another threat to exports lay in an ec warning that copra meal cake used in livestock feeds contained dangerous levels of aflatoxin a carcinogenic chemical
nerco ner to acquire interest in gas filed
sulpetro ltd 1st qtr jan 31 loss
us moves to increase its warships in and around the mideast gulf could trigger more attacks on unprotected merchant ships but run little risk of sparking a direct military clash with iran diplomats said
mitsubishi to issue two convertible bonds
twa was off 3 8 to 31 1 2
noel said proceeds will be used for additional working capital and expanding its factory in kingston jamaica
johnson geneva usa said it has agreed to buy pan am corps 50 pct holding in their joint venture company pan am pacific satellite corp for undisclosed terms
holiday will redeem the harrahs bonds at 1045 pct of the principal amount plus accrued interest or 107931 dlrs per 1000 dlr face amount
dixons group has tendered for all outstanding cyclops shares at 9025 dlrs a share in cash
the latest gold price in zurich was 2045 2070 francs per 100 grammes
the submission also said australias federal system impeded the awbs role of coordinating and managing the marketing of wheat
kansas said santa fe in petitioning for reconsideration now argues that the trackage agreements with the union pacific the denver and rio grande western and other railroads adds to the value of the merger
i dont see right now that the eep will be on the chopping block glickman said
la electricidads problems stem from the governments december decision to set private debt payments at 750 bolivars per dollar instead of 43 company officials estimate that the currency change raised the debt to 467 billion bolivars from 267 billion
theres been a tug of war between the currency speculators and the central banks over the us dollar and it looks like the game has gone to the speculators said john ing at maison placements canada inc
they are matters of a different category he said
theres no question about it the longer you feed the calf on the cow the longer it is to wean it in recent months usda has offered subsidies on a growing list of commodities to an increasing number of countries
krupp has satisfactory 1986 results
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
westlb luxembourg reports lower 1986 net profit
new york investor martin sosnoff said he reduced his stake in caesars world inc common stock to 3878700 shares or 16 pct of the companys common stock outstanding from about 174 pct
american international group aig qtly div
signs of concern about german prospects emerged recently when bundesbank central bank president karl otto poehl told bankers he would consider cutting west german interest rates if the fed was ready to follow suit
cofab inc buys gulfex for undisclosed amount
bankers see good reception of bp credit facility
sweet crude at 2560 dlrs canadian bbl
lower volume translates into higher costs according to the companys 1986 annual report growmark owns 90 pct of the preferred shares and four pct of the common shares of illinois cooperative futures co
they are increasingly resigned to there being little legal recourse in saudi arabia and that rescheduling with payments geared to a companys cash flow often very low is the only way to recover at least a portion of outstanding loans
the central bank made outright purchases of bank bills comprising 347 mln stg in band one at 9 7 8 pct 207 mln stg in band two at 9 13 16 pct and 135 mln stg in band three at 9 3 4 pct
barclays bank plc bcsl and midland bank plc mdbll said they are cutting their base lending rates to 105 pct from 11 pct
it suggests that while the uk is not actually applying to join the european monetary system it is seeking protection by shadowing it the bundesbank has made it clear that it wants the uk to clarify its position relative to the mark he said
qtrly div 30 cts vs 30 cts prior pay may one record march 31
agency reports 39 ships waiting at panama canal
the commodity credit corporation owned 127 mln tonnes about half of the world soybean surplus he said
it said the senior debt will bear a 94 pct interest rate and the senior subordinated debt will bear 1015 pct
reagan said on march 27 when ordering the tariffs that he hoped the japanese would soon end their unfair practices in semiconductor trade and that sanctions could be lifted
he said the company owed 76 mln dlrs and had borrowed an additional 15 mln dlrs in order to pay off workers
we must try to make sure that more capacity is injected into the turkish economy in the coming years
zimbabwes projected coffee output of 13000 tonnes for 1987 88 could be reduced by drought growers said
us intervened to aid dlr in january fed says
phoenix did not disclose the indentity of the investors
bnl unit issues 15 billion yen eurobond
west german economists see room for further cuts in leading west german rates if the dollar resumes its decline
decision industries dic sees 1st qtr loss
the immediate outlook for crude oil prices was uncertain although it was unlikely there would be any sizeable increase in the near term
co leads are bank mees en hope amro bank and citicorp investment bank netherlands the management group consists of rabo nmb cln oyens en van eeghen and f van lanschot bankiers
interest is based on average state bond yields tme with a margin of less 024 pct on the basis of tme at 845 pct
ccc accepts bonus bid on semolina to egypt
issue price is 100 5 8
mulford stessed that greater flexibility in devising new money packages may be essential for future bank syndications
this is too small an operation and anyway they will be able to buy shares in france he said
the underwriting fee is 1 8 of a percentage point over the hong kong interbank offered rate
comalco ltd 1986 net profit 571 mln dlrs vs loss 691 mln
ive seen people making comments on that and i dont know how they know unless they talk to the soviets he said
the tough trade sanctions president reagan imposed on japanese exports are not only a shot across japans bow but also a sign reagan will attack unfair trade practices worldwide us officials said
late in the day the deal was trading just inside its fees at less 175 less 155
french companies ste nationale elf aquitaine elfppa and total cie francaise des petroles tpnpa which were expected to receive operatorships following frances agreement last autumn to purchase gas from norways troll field were not offered operatorships in this round industry sources said
allied signal ald completes unit sales
fees comprise 1 1 2 pct selling concession and 1 2 pct each for management and underwriting
producers say they want the buffer stock to consist only of icco member cocoa comprise a representative basket of various grade cocoas and pay different prices for different grades delegates said
trading houses applying for a miti export licence will be required to show such a certificate but those without it will not automatically be denied licences he said
a group controlled by new york investor saul steinberg told the securities and exchange commission it has acquired 168500 shares of pizza inn inc or 502 pct of the total outstanding common stock
the institute is conducting a survey to determine how many trees will be uprooted or base budded
chemlawn corp said it had no comment on a sweetened offer from waste management inc wmx waste management amended its 27 dlr per share tender offer raising it to 35 dlrs per share
x 1986 rates
the report details steps to be taken by the administration to increase federal efficiency and to continue president reagans highly publicized war on waste fraud and abuse according to the report elinquent us debt had soared to 683 billion dlrs or 188 pct of total receivables by the end of the fiscal year that ended last sept
washington however was not satisfied with the cuts and pressed for more reductions as a way of cutting its huge trade deficit with taipei
he also declined to specify at what price the company would consider selling it shares
the company said the investment was made pursuant to an option searle held and increases searles stake in medicontrol to 198 pct with a total investment of one mln dlrs
study shows only limited optimism for silver
qtly div 25 cts vs 25 cts prior payable july one record may 7
the exchange said it had requested a statement from the company in light of the activity
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
but in contrast to january the dampening effect of the inflow on domestic credit demand outweighed the expansionary effect on money growth the bundesbank said
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
damage was most severe on plants above the ground where little or no snow cover was present he added
the judge said he would not rule on the request today
the bank of england also apparently sold sterling in london when it neared 160 dlrs on wednesday they said
waste management said it has received proxies from holders of 496 pct of modulaires common stock that could be voted in favor of the merger
usda is projecting the soviet crop at 210 mln tonnes but some earlier estimates from soviet officials were that the 1987 grain crop could match the 1978 record of 237 mln tonnes
the banks prime 1 rating for short term deposits was not affected
fidelity national financial inc fnf 1st qtr
fourth quarter and full year 1986 includes net income of 815 mln dlrs or 134 dlrs a share
the last october negotiations collapsed in disagreement over buffer stock operations
assistant treasury secretary david mulford said he prefers debt conversion plans to help heavily indebted countries over quick fix political plans to help ease their debt burden
dealers said securities houses and trust banks on the other hand have aggressively sold the dollar
us housing starts rose 26 pct in february to a seasonally adjusted annual rate of 1851000 units the commerce department said
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
it said it is offering to exchange 660 shares of common stock for each 1000 dlr principal amount of its 4139000 dlrs of outstanding 11 5 8 pct notes due september 15 1990
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
shearson lehman brothers inc the brokerage subsidiary of american express co axp said it has acquired 131300 shares of chicago milwaukee corp or 54 pct of its total outstanding common stock
it does reduce the banks exposure in energy loans and 54 mln dlrs is a substantial amount archibold said but the deal represents only about four pct of their energy loans of first citys total loan portfolio of 99 mln dlrs about 14 pct or 14 billion dlrs were made to energy producers or suppliers analysts said
chemical new york corp said its first quarter profits fell by 16 pct largely because it placed 104 billion dlrs of loans to brazil on non accrual
federal paper board co inc said it has filed for an offering of 140 mln dlrs of cumulative convertible preferred stock or 2800000 shares with a liquidation preference of 50 dlrs each through underwriters first boston inc fbc morgan stanley group inc ms and painewebber group inc pwj the company said it will use proceeds to redeem on june 15 all 125 mln dlrs of its 13 pct subordinated debentures due 2000
canadian pacific cp confirms earnings
brazil is not happy with the existing structure of the 14 bank advisory committee which coordinates its commercial bank debt finance minister dilson funaro said
you cant expect to get very far at the first meeting one banker said
included in the writeoffs were six mln dlrs in developmental costs six mln dlrs in unamortized loan costs and debt discounts and four mln dlrs in other non recurring costs
japanese government officials said they are confident they can make the pact work
we will discuss the market situation then he added
nv nederlandse gasunie is issuing a 100 mln dlr eurobond due april 15 1992 paying 7 1 4 pct and priced at 101 1 8 pct lead manager citicorp investment bank ltd said
speaking to reporters after talks with president suharto he said he expected jakarta to do more to liberalise the economy and deregulate trade policy
foreign exchange reserves fell 306 billion francs to 3064 billion
the broken hill pty co ltd brkns bhp said it plans a renounceable one for three issue of rights to float a new company bhp gold mines ltd bhpgm which will hold most of bhps gold interests
fees comprise 85 basis points for selling with 70 for management and underwriting
earlier the bank revised its forecast of the liquidity position in the system today to a surplus of 150 mln stg from its original estimate of a flat position
montreal trustco issues canadian dollar eurobond
the proposal would also offer a cable nominee a seat on the board of the merged company
on october 7 1986 the credit unit sold 200 mln dlrs of same maturity notes rated a 1 a that were priced to yield 7172 pct or 77 basis points over treasuries
shr 51p vs 42p making 153p vs 127p for nine months
ascs buys peanut products veg oil shortening
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
producers and consumers representing most of world trade in natural rubber adopted a new international natural rubber agreement inra aimed at stabilizing world prices over the next five years
on friday the federal home loan bank board in washington said it approved the acquisition of south bay s and l a 625 mln dlr state chartered stock association by standard pacific which has 3128 mln dlrs in assets
alcan said it and bertone have built several bertone x1 9 sports cars with structures of adhesively bonded sheet aluminum
keystone camera products corp said it has agreed to be the united states distribution manager for le clip clip on fashion watches
the varying reports said dresdner shareholders may be offered one free share for every 15 18 or 20 already held
the other major canadian crude suppliers raised prices june 18
india reported buying two white sugar cargoes
cereals mcas are plus 24 points for west germany and the netherlands minus two points for denmark minus eight points for france minus nine for ireland minus 57 for italy minus 257 for britain minus 441 for greece and minus 105 for spain
news corp ltds fox television stations inc subsidiary said it will pay an accrued dividend of 544 dlrs per share not the 583 dlrs it reported earlier in connection with the april 15 redemption of 230000 shares of increasing rate exchangeable guaranteed preferred stock for 1000 dlrs per share plus accrued dividends
sulpetro loss due to writedowns asset disposals
gardini told the operation under consideration was aimed at international markets and that the figure of 400 mln dlrs given in some press reports was probably about right european sugar wholly owned by ferruzzi unit eridania zuccherifici nazionali spa is expected to absorb the european corn wet milling business of cpc international inc which ferruzzi recently agreed to buy
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
the total capacity of the champlin refinery is 160000 bpd of crudes and another 40000 bpd of intermediates
we consider this matter closed he said
shr loss eight cts vs profit six cts net loss 895000 vs profit 662000 sales 911 mln vs 898 mln
closure of bp sweden refinery forecast
atlantic richfield oil co said it expects first quarter net income to cover its dividend requirements in the quarter
its a hodge podge of non related businesses he said
tenneco inc tgt one of the largest us gas producers is skeptical that a need for additional gas drilling exists
allied signal ald completes unit sale
he expected the decline to continue in the next few months because of further appreciation of the local dollar against the us currency
standard oils stock was up 6 1 4 in heavy trading to 71 1 8
accrued interest will be added in each case
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
late last year the gevaert group of belgium and west germanys veba ag vebgf said they had each acquired a 125 pct stake in hapag lloyd from deutsche bank ag dbkgf and dresdner bank ag drsdf industry sources estimate deutsche and dresdner hapag lloyds majority shareholders held about 75 pct of hapag lloyds share capital before selling portions of it to gevaert and veba
in the first 10 months of fiscal 1986 national savings contribution to government funding totalled 272 billion stg compared with 201 billion stg in the same period of the previous year official figures show
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
the finance ministry said indias wholesale price linked inflation rate dropped marginally to 53 pct in all fiscal 1986 87 ended march from 58 pct in 1985 86 and 71 pct in 1984 85
the company has nearly two billion dlrs available for acquisition today panic said adding we are investigating a number of companies one company being studied could possibly be acquired on a friendly basis he said
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
the non callable bond is available in denominations of 1000 and 10000 australian dlrs and will be listed in luxembourg
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
consumers are seeking an adjustment of the reference price set in the current accord at 20166 malaysian singapore cents a kilo and of the lower indicative price if the buffer stock currently 360000 tonnes rises to 450000 tonnes
nigeria changes auction rules to defend naira
it said the division was closed as a result of 46 billion dlrs in debt incurred from a leveraged buyout last year
wheat estimates ranged from 110 mln to 140 mln bushels compared with 120 mln reported last week and 183 mln a year ago
there is a sliding scale which gives relatively modest applications a higher proportion and those who sought between 101 and 500 shares will receive five
however maki quoted kato as replying that japan was already the worlds largest grain importer
however the situation could change dramatically if the economy goes into recession and internal demand slumps
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
emery air freight corp topped a leveraged buyout offer for purolator courier corp by about 40 mln dlrs but wall street is reacting as though another offer may surface
the new bearer shares would be priced at 1500 francs compared with a closing price last friday of 3325 on the zurich stock exchange while the registered shares would be issued at 300 francs against a market price of 900
deregulation will mean more pricing discounts for large volume users but status quo for residential users said painewebber group analyst jack grubman
jamesway corp jmy 4th qtr jan 31 net
arco raises crude oil prices 50 cts barrel today wti to 1900
they must be given the opportunity to trade their way to prosperity few detials have been released on the trade talks which were launched nearly two years ago between the two nations that are each others most important trading partners
louis
ivory coasts real gross domestic product is expected to grow only one pct this year compared to five pct in 1986 according to a recent finance ministry estimate
general acquisition said it is confident its offer can be completed in a timely manner using its financial arrangements
the us agriculture department said private us exporters reported sales of 104000 tonnes of corn to unknown destinations for shipment in the 1986 87 marketing year
ici will hire 145 new salespeople by october one
commodity prices are generally uniform worldwide and prices for them are more consistent than for other types of goods he said
cra sold forrest gold for 76 mln dlrs whim creek
that will ease their interest cost burden said henry
the new system is expected to substantially enhance the liquidity and effiency of markets fundamental said
shr profit nil vs loss 61 cts net profit 3000 vs loss 1148000 revs 184 mln vs 178 mln year shr loss 94 cts vs loss 28 cts net loss 1762000 vs loss 524000 revs 585 mln vs 673 mln note 1986 net includes extraordinary gain of 569000 dlrs or 30 cts per share
todays statement from the italian treasury said nobody denies the existence of g 5 but we should like it to be remembered that the tokyo accords provided for the enlargement of the group to italy and canada whenever the management or the improvement of the international monetary economic policy measures are to be discussed or dealt with italy refused to attend the paris g 7 meeting on the grounds that g 5 grouping the united states japan west germany france and britain had reduced italys role to rubber stamping agreements already taken
gasoline and diesel fuel prices were about five pct higher half the 10 pct jump recorded in january
i would hope that it would simply be a temporary blip upward as weve seen in the past baker said in television interview with the cable news network
last week also saw widespread protests by hundreds of thousands of farmers over what they see as unfairly high interest rates charged by banks
lyphomed lmed to sell 100 mln dlrs debentures
analyst says dart group likely bidder for supermarkets general
psa said this is the third of four unions agreement is needed with for usairs acquisition to be consummated
speculators have gone net long but only slightly so he added
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
cbt t note options set volume record
french official reserves fell 4506 billion francs to 37595 billion at the end of january from 42100 billion at the end of december the finance ministry said in a statement
city resources to sell gold property stake
fremont general corp frmi 4th qtr oper net
samuel montagu of london would be dealer for the programme while euromobiliare ltd would be involved in placing the certificates with institutional investors the bank said
farm and food trade showed a two billion franc surplus after a surplus of 24 billion in january
federal express corp 3rd qtr oper shr 69 cts vs 83 cts
ended december 31 shr three cts vs nine cts net 220000 vs 721000 revs 4920000 vs 4184000 avg shrs 6425925 vs 6599000 note full name rada electronic industries ltd
no price was disclosed for the acquisition
geplacea sees a new international sugar agreement which would regulate prices as one of the few chances of pulling the regions industry out of steady decline
clevite clev gets 1350 dlr shr offer
austria increases bond to 75 mln australian dlrs
dart also released a copy of a lawsuit that was being filed by an sgl shareholder seeking to stop sgl from taking such actions as paying greenmail or enacting a poison pill defence
qtly div four cts vs three cts prior pay april 15 record march 31
trade interests ready for battle in us house
i expect the meeting in vienna to be short and calm lukman who is also nigerian oil minister told reporters here ahead of his departure on sunday for the conference which starts june 25
meanwhile ltsociete shell chimie said it also returned to profit in 1986 for the first time since 1976 posting net profit of 160 mln francs against a 1985 loss of 57 mln
schlumberger slb ends pact to sell fairchild
southwest airlines cos transtar airlines corp said it will add nonstop flights from houstons hobby airport to orlando tampa st
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
the dexter corp dex 3rd qtr net
shr 11 cts vs 12 cts net 301820 vs 248419 revs 121 mln vs 102 mln avg shrs 2855966 vs 2033881
the treasurys account with the bank dropped 960 mln guilders to 65 billion guilders
there are about 349 mln norstar shares outstanding
nzi shares were at 218 nz dlrs bil at 408 and renouf at 615 at the close of trading
century business credit cpy to make statement
pinola said while its coastal state banks are in good financial condition first interstate continues to sustain serious loan losses in its rocky mountain states where energy real estate and agriculture dominate the economy
shr 19 cts vs 19 cts prior period pay april 15 record march 31 note full name transamerica income shares inc
plasti line inc signo 1st qtr net
weights in percentages compared with former weights
reed said the new mooring system will permit 24 hour service in most kinds of weather and will reduce ship turnaround time
parsow partnership ltd a nevada investment partnership said it lowered its stake in erc international inc to 343500 shares or 83 pct of the total outstanding common stock from 386300 shares or 93 pct
the company said the prospective purchaser forfieted a 500000 dlr deposit it said it is in talks on a new contract
precision target marketing ptmio 4th qtr net
the company said the price cut will bring the contract barge price for heating oil to 51 cts a gallon
the bank of england is taking a very cautious line to temper the markets first rush of blood to the head after the budget analysts said the banks move today to lend two week cash to uk discount houses at a lower 10 pct suggested it hoped to maintain the new rates for about that period of time
the us treasury said it will sell 128 billion dlrs of three and six month bills at its regular auction next week
in the first two months of the year partial operating profit excluding trading on the banks own account declined he said without giving details
he would not comment on a successor
bundesbank has not intervened today dealers
the company said if the conditions occur the warrants would be exercisable at a price equal to 75 pct of its common stocks market price at the time not to exceed 150 dlrs per share
in the international area he said that our major trading partners could still do more to stimulate domestic growth commenting on japan which is running around a 80 billion dlr trade surplus with the united states yeutter said japan is just not doing the job on the import side yeutter declined to comment on statements relating to the dollar made earlier today by commerce dept undersecretary of economic affairs robert ortner
newman hawker discuss electric motor merger
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
rogers corp said first quarter earnings will be up significantly from earnings of 114000 dlrs or four cts share for the same quarter last year
housing starts in september were down 12 pct from a seasonally adjusted 1689000 units in september 1986
french official reserves 38868 billion francs at end feb vs 37595 billion end jan
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
california energy said that as part of the financing it received a letter of commitment for 133 mln dlrs of project funding from credit suisse
borg warner will also redeem all of its outstanding 450 dlrs cumulative preferred stock series a for 100 dlrs per share
harcourt brace jovanovich inc hbj 4th qtr net
financing turnover rose by 42 billion marks to 244 billion in 1986
wed put half in bonds and half in equities now said judith corchard wright senior vice president
the un program approved last year calls for 128 billion dlrs of economic investment in africa over five years
i would not be surprised at all if the monetary aggregates were to grow rather slowly during the balance of the year as well he added
however world stocks are huge totaling 2267900000 ounces at the end of 1986 it said
pay date is april 21
connery and other analysts noted that talk of a cut in the lombard rate after sluggish west german industrial production figures also provided some support
they may get a little more bang for their buck he said
higher 1986 profit for dutch chemical firm dsm
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
investor acquires 99 pct of munford mfd 
the commission the ecs executive authority two weeks ago cut its forecast for economic growth in the community to 23 per cent for this year from 28 per cent predicted last autumn
bemis co bms 3rd qtr net
a company spokesman said the data were provided by economic consultants to usx
in order to concentrate on the companys core business the operation of discount and promotional department stores mars said it has decided to close the big value division
quebec caisse desjardins brings euroyen bond
this operation will reinforce bulls capital and reduce the states stake prior to privatisation the ministry said in a press release
in april gencorp sucessfully thwarted a takeover by a partnership formed by afg industries inc afg and wagner and brown with a restructuring program that included the purchase of up to 54 pct or 125 mln shares of its common at 130 dlrs a share for a total of 16 billion dlrs as part of the restructuring gencorp also said it planned to sell its tire business the bottling operations of its rko general inc subsidiary and rkos remaining broadcast properties to focus on the companys aerospace and automotive components businesses
bank of japan satisfied with yen at current range
total membership of the exchange is now nine brokers and 44 traders
a third el paso gas a subsidiary of burlington northern bni has expressed no interest
gordon said he will decide in the next few days whether to grant burlington industries incs request to stop a takeover by samjens acquisition corp
the transaction is expected to close in july the company said
german producer prices rise 01 pct in may
seasonally adjusted retail sales rose by 01 pct in january compared with increases of 57 pct in december and 10 pct a year earlier the statistics department said
the us is sticking for the moment to its policy that brazil which two weeks ago suspended debt payments to private banks should deal with its creditors and not with governments us officials said
ali said the position of the 400000 bpd production from the neutral zone between saudi arabia and kuwait which has been supplied to iraq as war relief crude was fixed
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
group loss after financial income and expenses 108 billion vs loss 71 mln crowns sales 1238 billion crowns vs 616 billion
the federal reserve will promote lower interest rates this year to sustain world economic growth first boston corp managing director albert wojnilower said
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
he said the outlook for pay increases was gloomy because of falling employment in many industries particularly those hit hard by the yens rise
schlueter made clear that an autumn general election would not make the government postpone any austerity measures
equiticorp tasman ltd etl said it will offer 415 dlrs a share cash for all the issued capital of monier ltd mnras currently the subject of a 380 dlrs a share bid by csr ltd csras alternatively etl will offer three shares plus 82 cents cash for each monier share it said in a statement
lead underwriters are william blair and co and mcdonald and co investments mdd
the paris accord will be reviewed at this meeting
these stocks were equivalent to one quarter of ugandas expected three mln 60 kilo bag 1986 87 october september crop the sources said
medco now has 169 mln shares outstanding
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
housing and equities were the key two asset markets in influencing consumer behaviour he said
other candidacies to take over cgct include west germanys siemens ag siegf allied with schneider sa schnpa subsidiary jeumont schneider swedens telefon ab lm ericsson ericst allied with matra matrpa and bouygues sa bouypa italys italtel and canadas northern telecom ltd ntlto
the interfuel swing market accounts for about eight mln barrels a day or 18 pct of the world demand for oil
the company had owned 63000 common and 25100 preferred shares before starting the hostile tender
lear siegler said it plans to retain management services corp engaged in aircraft maintenance modification for various department of defense agencies
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
s p may downgrade caesars world caw debt
it said it hopes to finalize a contel agreement by april 15
1985 4th qtr and year net includes loss in metcap unit of 108598 dlrs and 298412 dlrs or 16 cts per share respectively
renouf said it has accepted for payment all 3914968 units of benequity holdings tendered in response to its 31 dlrs per unit offer
the company said the split is payable april 17 to holders of record march 25
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
income from discontinued operations including the liquor businesses was 67 cts per share
finnair chief gunnar korhonen would not discuss the price further than telling reporters the planes were inexpensive though market sources said the airline could expect a price cut as an earlier customer
payment is due april 22
the government would in effect be subsidising these developments at 75 pct of capital expenditure before corporation tax the report said
the world bank said it has extended pakistan 220 mln dlrs in three loans to support projects in education energy conservation and modernization and small scale industry development
the canadian industrial product price index base 1981 fell 02 pct in february after rising 02 pct in january statistics canada said
sucre figarella told a news conference the cvgs 12 companies showed an overall increase of 120 pct in profits which rose from 1732 billion bolivars in 1985 to 3926 billion bolivars last year
but lawson told funaro brazil had to solve its problems with the banks rather than governments
national gypsum co 4th qtr net
greece responding to a warning by turkey against conducting oil activities in the aegean sea said today it had the right to decide where and how to do research or drilling work in the area
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
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
in play is a term used on wall street to describe what happens when a company becomes an unwiling takeover target
the commodity credit corporation ccc announced 15 mln dlrs in credit guarantees previously earmarked to cover sales of dry edible beans to honduras have been switched to cover sales of white corn the us agriculture department said
terms of the sale were not disclosed
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
stanadyne inc said it has acquired a substnatial majority of ambac spa s outstanding stock from ail corp the successor to united technologies corps utx diesel systems division for undisclosed terms
the tariff cuts of between five and 30 percentage points take effect on july 1
hartmarx corp hmx 1st qtr feb 28 net
the department said the customs service has reported that weekly and cumulative imports are reported on an actual weight basis and when final polarizations are received cumulative import data are adjusted accordingly
it said holders of robert halmi common will exchange their shares on a two and one half for one basis for shares in the combined company
anacomp inc said it finalized the financing of its 128 mln dlrs purchase of datagraphix inc from general dynamics corp gd the financing arranged by drexel burnham lambert consists of 90 mln dlrs of bank financing the private placement of 71 mln dlrs of senior subordinated notes and 25 mln dlrs of convertible preferred stock it said
six months to end december shr 326p vs 223p div 50p vs 40p pre tax profit 376 mln stg vs 260 mln turnover 883 mln vs 686 mln tax 133 mln vs 94 mln note company full name is glaxo holdings plc glxol trading profit 338 mln vs 233 mln share of profits of associates 14 mln vs seven mln investment income less interest payable 24 mln vs 20 mln profit after tax 243 mln vs 166 mln minority interests two mln vs one mln extraordianry credit eight mln vs nil turnover includes continuing activities 875 mln vs 647 mln discontinued activities eight mln vs 39 mln uk 111 mln vs 91 mln europe 299 mln vs 218 mln north america 334 mln vs 229 mln central and south america 21 mln vs 20 mln africa and middle east 29 mln vs 23 mln south east asia and far east 57 mln vs 47 mln australasia 24 mln vs 19 mln anti peptic ulcerants 414 mln vs 285 mln systemic antibiotics 112 mln vs 82 mln respiratory system 183 mln vs 141 mln
topps co inc files for initial offering
we want to open foreign markets and establish and enforce rules of international competition not foster dependence on protection and subsidies he said
photographic sciences corp pscx 4th qtr
the taxes would help cut the budget deficit which in turn would lower the value of the nz dollar he said in a speech
shr 23 cts vs 14 cts net 611000 vs 511000 revs 101 mln vs 4380000 note latest year includes three cent per share loss from discontinued operations while prev year includes seven cent per share tax credit
those amendments affecting imports face an uncertain future because the house ways and means committee which has overall jurisdiction over trade legislation will oppose them congressional sources said
gardner said he believes a better offer might be found if the company would agree to be sold to some other entity or if it could sell off all or part of its us courier division
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
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
projected expenditure in the 1985 86 budget had been 156 billion riyals
turkish central bank sets lira dollar dm rates
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
it said it has taken legal action to try to force the company to set an annual meeting and require all directors to stand for election
industrial equity pacific which is controlled by brierley investments ltd brywwe and which has applied with us antitrust regulators to buy up to 50 pct of tritons common stock said the current 54 pct stake was acquired for investment purposes
tabuchi electric issues 30 mln swiss franc notes
he said he hopes to see medium term financing facilities for brazilian companies reinstated shortly following an agreement reached in january with international financial authorities
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
there are too many uncertainties said one arbitrager
it said trading will begin in its stock april eight on nasdaq under the sumbol wcar
gottschalks inc got 4th qtr net
a banker involved in the veba placement said nothing has changed in the planning
this time next year the us will be screaming at those countries about their exports said steve cerier of manufacturers hanover trust co
the transaction would have no impact on avons current dividend rate it said
national computer said it plans to issue 45 mln dlrs in five year subordinated convertible debentures to purchase the 3749401 shares of data card from deluxe
the debentures are convertible into the companys common stock at 5455 dlrs per share representing a premium of 2576 pct over the stock price when terms on the debt were set
inflation was zero last year
the february figure was up 1889 pct from a year earlier
it said the first tranche of an undisclosed amount was sold today through goldman sachs and co inc and that the paper last week had received the top a 1 p 1 rating of standard and poors corp and moodys investors service inc respectively
westlb international will pay a 125 mln mark dividend to westlb down from 477 mln a year earlier
the ebullient poehl spent seven years in bonn in top ministerial posts under the social democrats now in opposition before he moved to the bundesbank
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
indonesia was badly hit by last years steep plunge in crude prices which cut revenue from oil exports by half
price to be offered for the guardian morton special shares under the takeover bid will be 90 pct of the net asset value of the special shares at the time of the bid and two dlrs for each series ii warrant the company said
but there has been no independent confirmation of todays supertanker attack nor of other raids on shipping reported by baghdad in the past 24 hours
underwriters said that two of the ubs lead offerings were negotiated deals
goldman sachs said it has about 17800 first pennsylvania common shares remaining
raven industries inc said it purchased the utility truck body business of astoria fibra steel inc for cash
heavy rains damage argentine coarse grains crop
many fields were booting and some were beginning to head
lawyers representing ward have said he saw the funds as his reward for services performed during the takeover of distillers
the bank official said commercial bank reserves were 2219 billion pesos at the end of december when reserves required were 2159 billion
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
over the weekend us treasury secretary james baker criticised recent rises in west german short term interest rates and said such developments were not in the spirit of the louvre pact
ethyl corp ey units complete acquisiton
danish bond prices rise after austerity pledge
grocery store food prices were up 04 pct the same as in january but meat poultry fish and eggs cost less for a third consecutive month the department said
harleysville group inc said it was in talks to acquire atlantic mutual fire insurance co a property and casualty insurer licensed in five southern states
strong said figures on the amount of crude production imperial purchases from outside suppliers were not immediately available
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
nynex disagreed with the departments recommendation to retain restrictions on long distance service within a local service region staley said
i hope the debate is still open if not there will be a formidable hole in the budget he said
bond prices last week were slightly firmer on balance with the bundesbanks public authority bond yield calculation falling to 564 pct on friday from 566 a week earlier
it has also said it has no intention of seeking control of the company
current assets at year end fell to 241 billion dlrs from 443 billion dlrs and current liabilities fell to 188 billion dlrs from 238 billion
the deal would mean buying the dublin london nigerian and malaysian breweries because it could only be sold as an integral unit if it was going to be sold at all oreilly said
prices had also been forced down because refineries were using up old stock he said
theyre well supplied here said richard may senior analyst at barclays de zoete wedd ltd in tokyo
the associations said they would continue to do business using their present names and management
plaza group completes merger transaction
the us has dropped its insistence that the floor price in a new international natural rubber agreement inra be revised downward under certain circumstances conference sources said
commercial and industrial loans on the books of the 10 major new york banks excluding acceptances fell 195 mln dlrs to 6506 billion in the week ended february 18 the federal reserve bank of new york said
higher earnings for the period reflected reduced operating and maintenenace expenses and about 10 mln dlrs in rate increases in iowa minnesota kansas and colorado he said
mdi mobile data international inc year net
the notes are redeemable at par at arvins option after march 1 1994
both firms have been struggling with losses caused by the recession in the steel industry and the yens appreciation
but nakasone still has a chance to soothe us tempers before or during his week long washington visit from april 29 some analysts said
the belgian national bank cut interest rates on one two and three month treasury certificates to 730 pct from 740 pct effective immediately the bank said in a telex message
the department said the bonus awarded was 145900 dlrs per head and was made to tk international inc
the us meat and poultry inspection programs are incapable of protecting consumers from contaminated products groups representing inspectors and consumers charged
the debentures are exchangeable through the redemption date into 29205 common shares of painewebber group inc pwj for each 1000 dlrs principal amount
the tokyo stock exchange said in a statement it is considering reducing brokerage fees on yen convertible bonds
in its inter meeting policy directive the february fomc said that somewhat greater reserve restraint would or slightly lesser reserve restraint might be acceptable depending on the behavior of the aggregates taking into account the strength of the business expansion developments in foreign exchange markets progress against inflation and conditions in domestic and international credit markets the february fomc voted nine to one for an unchanged policy
on the question of conditions for entry into force of the new inra xuto said it was tentatively agreed that governments accounting for 75 pct of world exports and 75 pct of world imports approved or ratified the new agreement before it became operational
envirosure management corp envs 1st qtr loss
trustcorp inc ttco 1st qtr net 
a spokesman for zenith criticized the action
we are in a position to re confirm that despite misleading news in foreign media to the contrary opec member countries as a whole produced below their agreed quota in the month of february lukman who is nigerian oil minister said
funaro was scheduled to travel to switzerland tomorrow they added
belgian prime minister wilfried martens announced to parliament a plan to reduce the 1987 government financing requirement by 206 billion francs
gatt success will take pressure nz minister
darmans strength was not as an economist but as a political strategist and thats bakers strength too the official said
debt leverage has risen to 87 pct and the company has suspended dividend payments to conserve cash s and p noted
the company said bowcan holdings inc a holding company principally owned by the seaman brothers of calgary and charles rosner bronfman trust of montreal is offering to sell all of its holding of 8279665 bow valley common shares
bayou has 827000 shares out
xuto said producers and consumers had agreed on four points 1 regular price reviews will be held every 15 months
moodys actions affect 188 mln dlrs of securities
franklin puerto rico tax free sets payout
the company did not disclose any prices
the current account deficit was 912 mln dlrs in the fourth quarter of 1985
soybean production estimates were revised downward to 78 to 82 mln tonnes compared to estimates of eight to 84 mln tonnes a week ago
in a statement the company said they had received offers of up to 68 pct of the rights and that they would accept all
iran reports important victories on southern front
the new investment coin to be sold worldwide will fluctuate in price according to the international price of gold
not only the us dollar but also other currencies essential to novo fell in 1986 in relation to the danish crown the statement added
all sectors saw strong growth in 1986 resulting in a 13 pct increase in operating income to 120 mln guilders
androsch welcomed government plans to abolish legal controls on foreigners buying voting shares and drawing dividends
for the year ended december 31 1986 patient reported a net loss of 14 mln dlrs on sales of 298 mln dlrs due to write offs from discontinued operations and a temporary backlog of orders
deak international a foreign currency and precious metals firm announced the acquisition of johnson matthey commodities of new york from minories finance limited a unit of the bank of england
robert lougee director of corporate communications for rhode island based fleet told the company is exploring the possiblity of seeking a change in the national trigger date for the states reciprocal bank law to jan 1 1988 from july one
nobody so far said may would be closed he told 
wichita said it it will acquire all of the outstanding shares of fountain in an exchange for about 11 mln newly issued wichita common shares
aegon did not specify the loss
but the analysts said the heavy buying in futures occurred after the june bond broke above stiff resistance at 101 2 32
but analysts called it a false breakout on the weekly charts when the june bond closed at 100 10 32 friday
itel itel buys castle cooke cke unit assets
palm oil output seen dropping sharply oil world
pesch is the principal stockholder of pesch
the institutions implied senior debt rating is ccc plus
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
we might enjoy a short term boost to activity but at the risk of a damaging return to the uncertainty and acrimony of high inflation he added
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
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
research and development were likely to rise 13 pct to 61 billion marks or around 12 pct of turnover
the bonds will be issued in denominations of 1000 and 10000 dlrs and listed in luxembourg
it is being played by opec membership as a whole because the reduction in the 158 mln bpd share of opec in the market is being shared by other members of opec nazer said
the dollars tumble to a record low of 14470 yen in tokyo today motivated some major japanese investors to lighten their us bond inventory further and is expected to spur diversification into investment assets including foreign and domestic shares dealers said
uk money market forecast revised to show surplus
danforth who earlier today said he expects earnings growth in the double digit range through 1989 said he is comfortable with analysts predictions of 480 dlrs to 530 dlrs a share this year
st
the company said it obtained financing from a syndicate of major banks for 150 mln dlrs
net includes loan loss provision 550000 dlrs vs 203000 dlrs gain on sale of securities of 309000 dlrs vs 638000 dlrs and gain on sale of loans 403000 dlrs vs 553000 dlrs
fidelity national financial inc said its fidelity national title insurance co subsidiary acquired the operations of safeco title insurance co in the northern california counties of alameda contra costa and san mateo
rockefeller says brazil solution will be found
brazil on february 20 suspended indefinitely interest payments on 68 billion dlrs owed to commercial banks followed last week by a freeze on bank and trade credit lines deposited by foreign banks and institutions worth some 15 billion dlrs
if the acquisition does not take place by april 30 either party may terminate the agreement the company said
walker has 7600 customers in northeast georgia
shr 45 cts vs 50 cts net 180 mln vs 199 mln sales 1161 mln vs 1088 mln year shr 101 dlrs vs 104 dlrs net 398 mln vs 411 mln sales 3045 mln vs 2781 mln note share adjusted for three for two split in june 1986
csr sold delhi which holds an average 25 pct in the santos ltd stoss led cooper eromanga basin onshore gas and liquids joint ventures to an exxon corp xon unit for 985 mln dlrs on april 1
the us agriculture department made the following 1986 87 projections in its world supply demand report with comparisons in mln tonnes except where noted total world grain 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 produc 168231 168611 166369 166370 total supply 202571 202845 191918 192013 trade x 21215 21189 20442 20392 usage 163501 163040 157578 157779 end stks 39070 39805 34340 34234 x based on export estimate
dealers will be enskilda and bankers trust international ltd
s african m 3 money growth slows in january
haslam said the budget announcement on prt relief by which companies will be allowed to offset up to 10 pct of qualifying development expenditure on certain future oil fields against prt was helpful but rather less than had been hoped for
rmj was then valued at about 50 mln dlrs
firstier inc frst sets regular quarterly div
denpac corp dnpc year loss
we remain convinced that the most critical transitional issue facing the industry take or pay must be resolved by ferc in the near future
in a filing with the securities and exchange commission fidelity international ltd a bermuda based firm said its funds bought 68000 ldbrinkman common shares between jan 5 and feb 19 at prices ranging from 530 to 5445 dlrs a share
the dollar decline was key in recent weakness in debt futures as it rekindled concern about a pickup in inflation
the issue price of the warrants has been fixed at 30 guilders each
hata said protectionist pressures in the international economy are as strong as ever reflecting financial deficits payment imbalances and serious unemployment in many countries
it said its smith kline and french laboratories pharmaceuticals unit with 1986 sales of 19 billion dlrs will file for food and drug administration marketing approval for a number of cardiovascular agents including tissue plasminogen activator over the next two years
energy factors inc said it has signed an agreement to acquire gwf power systems co and combustion power co inc from allied signal inc for undisclosed terms
electro nucleonics inc enuc 2nd qtr dec 31
no date has yet been set for the auction
carolco crc may bid for lieberman lmano 
the group which also includes anglo american security fund lp and tb pickens iii tuesday proposed an entity it controls acquire for cash all the assets of japan fund for 95 pct of the funds aggregate net asset value
no one argues that tokyo is cheap but long time residents see no need to spend the 2000 to 15000 dlrs a month spent by foreign firms to house executives in western style homes
raymond silverstein currently chairman of the board of united jersey bank fidelity will be chairman of the merged bank the company said
musicland group inc tmg 3rd qtr net
the s and p downgrades were a non event a trader said
group raises scandinavia fund scf stake
but he did stress the us plan was important and the right approach
only a small percentage of spring wheat farmers would likely sign up for 0 92 since the incentives to plant are greater than to idle the land economists said
reagan sees room for interest rate declines
the operation will put the outstanding bill supply at about 3200 billion yen
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
because of their high yields junk bonds have lately outperformed investment grade corporates he and others said
i am confident that further improvements in our trade performance will contribute significantly to growth in 1987 he said
we cannot contemplate giving up our control he said
the losses for 1987 are expected to be substantially less than in 1986 first city chairman ja elkins said in a letter included in the annual report
british trade and industry secretary paul channon said japan must heed a report issued by a japanese government advisory body in december calling for faster domestic demand to help cut its trade surplus and restructure its economy
the companys full name is town and country jewelry manufacturing corp
sept nov lower mississippi river memphis cairo 137 1 2 pct bid 145 offered with sept dec same section 125 pct bid 135 offered no comparison
usg ara ghent option seaforth 40000 45000 long tons hss 10 days all purposes 9 15 4 try later
ironically one side effect of higher inflation could be to help the government achieve its aim of cutting the state budget deficit several analysts said
cable and wireless plc cawll and the pacific telesis group pacn may take part in a proposed merger of two rival firms seeking to enter japans international telecommunications market a senior industry official said
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
alliant said msc nastran is used for finite element analysis particularly in the automotive and aerospace industries
we want a good basic industrial company that will fit into our management structure durham said
north american group ltds north american acquisition corp said it has a definitive agreement to buy 100 pct of pioneer business group inc of atlanta
he said selective eep use has been successful in pressuring the ec
dart group drops dayton hudson dh takeover bid
herrington said of the increased depletion allowance option that is one that could significantly increase production at a very low cost to the american taxpayer he again rejected an oil import fee as far too costly to the overall us economy
fitchburg said this would lower its cost of capital in the future and give the utility an opportunity to reduce existing lines of credit
payment date is april 20 and redemption will be in 12 equal annual instalments starting after the first three years of the issues life
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
the fund said its quarterly dividend rate may fluctuate in the future
in 1985 cgct posted losses of 200 mln francs on sales of three billion after 1984 losses of 997 mln francs
the 1985 dividend was 10 pct unchanged from the previous year and schmidt chiari noted that the parent banks share capital had risen to 31 billion schillings at the end of 1986 from 27 billion a year earlier
tel offshore trust teloz ups quarterly payout
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
outgoing united states ambassador stephen bosworth told a news conference he did not think the philippines would follow brazils example and suspend interest payments on foreign loans from commercial banks
there is a call at par from the end of the third year
gulf shipment ranged in prices from 7517 to 7845 dlrs per tonne stowed and trimmed fob euqivalent and west coast shipments ranged from 7941 to 8102 dlrs per tonne stowed and trimmed fob equivalent they said
shr 55 cts vs 75 cts net 218000 vs 269000 nine mths shr 215 dlrs vs 345 dlrs net 855000 vs 920000 assets 1758 mln vs 1669 mln deposits 1598 mln vs 1543 mln loans 1557 mln vs 1426 mln note 1987 nine mths includes gain 96000 dlrs or 24 cts per share from utilization of operating loss carryforward
japan seen reducing beef pork intervention prices
but sumita said he could not say exactly what currency levels would be considered in line with underlying economic fundamentals
avco financial has 25 billion dlrs of debt outstanding
second in the united states it could damage investors confidence in the dollar and thus reduce their willingness to finance huge fiscal and external payments deficits gleske said
this government needs less pressure and more time and happily our creditors seem to see it that way he said
copra meal exports were 817641 tonnes or 35 pct of total coconut exports in 1986
to save taxes commercial banks mainly foreign banks and some private companies are investing their surplus funds in the tax free bonds he said
light scattered showers covered winter wheat areas in the north china plain in the week ended march 14 moistening topsoils for wheat just breaking dormancy in most central and northern areas the joint agricultural weather facility of the us agriculture and commerce departments said
cannon intl can sets philippines film pact
they would then stock it up at the next tender when the need is clearer he added
intl minerals igl buys animal products unit
earlier vw had said that its 1986 results would match 1985 profits
the joint committee of taiwans maize importers has awarded contracts to two us companies to supply two shipments of maize totalling 60000 tonnes a committee spokesman told 
the rights are exercisable ten days after a person or group acquires 20 pct or more of alberstons common stock or announces a tender offer for 30 pct or more of the stock
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
diplomats noted however iran was also seeking to avoid ostracism by arab states due to meet at a summit in amman on november 8 and discuss the iran iraq war
under the cooperative system income from operations is returned as patronage refunds to the members
no dividend has been paid since 1984
it is situated 14 kilometres from the first well to be discovered in the region last year which is currently yielding 500000 cubic meters of gas and 900 barrels of oil daily
showboat sbo declares stock split
soo line soo to sell lake states division
karl pale head of girozentrale und bank der oesterreichischen sparkassen ag girvvi has also called for lower deposit rates but said lending rates should remain unchanged at the moment
sand technology sndcf mulling reverse split
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
exports other than coffee rise sharply in colombia
twa twa sees benefits in usair u merger
he said coca cola co ko one of the two additions is a genuine consumer stock as opposed to a smokestack he applauded the decision to drop inco ltd n a super stock at one time that hasnt done much lately the editors of the wall street journal also decided to add boeing co ba and dropping owens illinois inc oi charles jensen of mki securities said inco was a stodgy number but he noted that putting two new stocks in an average of 30 is a relatively minor change
groupe videotron ltd said it agreed to buy 50 pct of groupe promexpo inc a company which specializes in product exhibits for three mln dlrs
london exchange declines comment on merrill case
the delegates will also debate whether to endorse concepts of a national prv pseudorabies virus control and eradication program the nppc said
certainly if restrictions were imposed on european exports of textiles to the us the community would be likely to retaliate with restrictions on us textile exports to europe denman said
rent a center rent sells convertible debt
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
qtly div 23 cts vs 23 cts prior qtr pay 10 june record 20 may
qtly div 11 cts vs 11 cts prior pay may 15 record may one
he said it would raise production and return 120000 oil workers to their jobs but at the same time it lifted oil prices the higher prices would cost 400000 jobs nationwide and cut the gross national product by 32 billion dlrs
the marines were despatched to the ports after the seamens strike now two weeks old was ruled illegal last friday
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
the market is paying more attention to the weakened state of the economy right now said refco analyst mike connery
the facility will allow the issuers to opt for notes not exceeding 50 mln australian dlrs and 50 mln new zealand dlrs on a non underwritten basis but the outstanding total is limited to 100 mln us dlrs bt asia said
a total of 15 billion dlrs in government guaranteed export credit debt obligations are due to mature in two years
shr 28 cts vs 13 cts net 1898000 vs 892000 sales 168 mln vs 153 mln
the company said it has redeemed about 273 mln dlrs in high cost debt during 1986 and hopes to redeem more debt this year
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
the 1986 projection of 145 mln tonnes is up from a provisional figure of 13 mln tonnes
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
the dominican republic already has a larger sugar quota yulo said
last year 45000 tonnes were sold into intervention and during the 1984 85 campaign 108000 tonnes
global lowers heavy fuels prices
mthly div 71 cts vs 71 cts prior pay march 31 record march 16 note franklin insured tax free income fund
a borg warner spokesperson said the discussions with jacobs and other minstar officials focused on terms and conditions under which the company would consider granting minstar access to the information it was seeking
australian broad money growth 103 pct in february
qtly div 10 cts vs 10 cts prior payable april 30 record april 10
shr three cts vs 80 cts net 46000 vs 1220000 revs 115 mln vs 130 mln avg shrs 1608000 vs 1530000
the first credit a project financing will carry a basic margin of 5 8 point over london interbank offered rates libor with an additional 1 4 pct per annum payable on outstanding amounts to the extent that the property is not substantially pre let
export orders for taiwanese products fell 137 pct to 358 billion us dlrs in february from 363 billion in january but rose nearly 43 pct from 251 billion a year earlier an economic ministry official said
he said flows from commercial banks had decreased markedly and that the refusal of some highly indebted countries to fulfil their commitments to private creditors or with the imf was one reason for this
utilities said it has the financial commitments required to ensure that pennsylvania enterprises facilities would be upgraded to insure an adequate supply of safe drinking water
base mixes for the january compound feed output included corn sorghum and soybean meal
one port german north sea usg 10500 mt bulk ore 2500 4000 7 13 4
the notes will be bought back at par
proceeds will be used to retire commercial paper to repay some long term debt and for general corporate purposes
the loss of the other half of the credits was reflected in the fourth quarter
orders received 221 billion francs vs 261 billion
rice imports increased to 824 billion malagasy francs during the first nine months of last year from 20 billion in the same period of 1985 the ministry said without disclosing the tonnages involved
soviets outline 1988 economic targets
new venezuela debt interest rate goes into effect
earlier this month deputy prime minister janos milosavljevic said yugoslavia needed new credits
royal bank canada sees higher 1987 loan losses
but rafidain bank stopped paying debt due on letters of credit last march and a series of negotiations with banks and western government export credit agencies has been underway
the bank also said it plans to expand into other major western banking markets and is considering an acquisition in colorado
a dividend will then be calculated and all claims will be treated equally pw said
there are no firm figures on exactly how much us treasury debt is traded here and estimates vary widely
the dividend is payable may 30 record april 20
spain and portugal which are not members of the international tin council raised no objections to a common ec stance in favour
new world pictures to have gain from sale of five pct of taft broadcasting
market welcomes lower australian payments deficit
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
because of the litigation i cant go any further than that he said
he also said the group had not yet completed taking over a stake in car components firm fichtel und sachs ag mannesmann had said in january it hoped to take a 375 pct stake in fichtel und sachss holding company sachs ag in the first quarter
asta group inc said its 50 pct owned liberty service corp affiliate has purchased about 50 mln dlrs face value of credit card installment receivables from a major financial institution it did not name for a significant discount from face value
shr 19 cts vs 17 cts net 767000 vs 676000 revs 9476000 vs 9091000 six mths shr 47 cts vs 44 cts net 1897000 vs 1719000 revs 195 mln vs 19 mln note full name paco pharmaceutical services inc
the cash portion would include the amount previously paid for the rexham stake and the terms of the convertible preferred stock would be negotiated the company said
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
in czechoslovakia and poland it was mostly warm favouring beet development
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
singapore gdp to grow six pct in first quarter
several had good brand development potential including gleneagles champneys cranks hediard and and guinness publications
prudential can fund these things more cheaply than first city and theres an incentive to invest in troubled energy companies right now as values are depressed in a statement first city chairman ja elkins said the banks strategy was to reduce the proportion of energy loans to total loans
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
petrobras said the saudis will accept banco do brasil credit guarantees
ranks hovis said the cash required for the cash alternative would be met by one of several methods
durable goods were weak in january and now employment is strong in january us durable goods orders dropped 75 pct followed by a 40 pct drop in us factory goods orders
talks on the 215 billion dlr lona began in january
in a summary of its weather and crops bulletin the agency said winds and low soil temperature retarded growth and hampered seeding in arizona
tin council allowed appeal on use of documents
three us senators said they will propose a temporary ban on imports of all toshiba products due to the companys illegal sales of sensitive high technology goods to the soviet union
but dattel was freed from prosecution after he produced medical evidence of paranoia caused by nazi persecution during his childhood which might have led him to take his own life
cablevision to buy valley cable for 100 mln dlr
miguel ascensao of acico told that lisbons civil court in a preliminary ruling had decided epac should not be allowed to take part in tenders open to private traders
the bank of england said it forecast a shortage of around 450 mln stg in the money market today
buying by speculators continued to prompt gains in gold and silver futures on the commodity exchange in new york
painewebber group pwj to redeem debentures
uic is likely to take a controlling stake in the troubled international coffee trading firm but plans are not finalised and negotiations will continue for another two weeks he said
the central banks are sending strong signals that they wont tolerate any kind of momentum building behind currencies added a senior corporate trader at one uk bank
xuto said if the key outstanding issues are not resolved by tomorrow he would hold weekend meetings
gulf and western inc gw 2nd qtr april 30 net
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
basing their judgement on todays market conditions dealers expected the loan to be priced at 10100 pct for a yield of 609 pct
intl lease ilfc files 500 mln dlrs offering
smithkline beckman corp said it is pursuing a three point stragey that will achieve a 10 pct annual increase in operating earnings throughout the remainder of the decade
j and j snack foods corp initial public offering of 25 mln dlrs of convertible subordinated debentures due april 1 2012
it said the purchase price and other terms of the transaction have not been disclosed
argentine meat exports during jan dec 1986 totalled 220911 tonnes against 223204 tonnes shipped in the same 1985 period the national meat board said
court to appoint trustee for np energy npeeq 
allied has 50 mln dlrs of debt outstanding
he told the decision not to put any limit responded to new factors which have emerged from recent international coffee organisation talks in london where producers and consumers failed to agree on a re introduction of export quotas
the company said its property casualty group had a record loss from insurance operations last year of 859 mln dlrs after policyholders dividends up 25 pct from 1985s 710 mln dlrs
tam said the dollar has hit short term chart targets and is likely to rebound
commerce clearing house inc cclr hikes div
webb said it had a one half interest in the venture
uk intervention bd says ec sold 118350 tonnes white sugar at rebate 46496 ecus
the amendment offered by rep
lukman during a brief visit to london on his way home from jamaica told in a telephone interview that in february opec had underproduced partly because members were strictly abiding by production quotas and partly because they were resisting the temptation to sell at discounts to official prices of around 18 dlrs a barrel
net profit 305 mln francs vs 258 mln
nike inc nike 3rd qtr feb 28 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
diamond shamrock dia raises crude oil postings
1987 nine mths net also includes after tax gain of 443 mln dlrs or 174 dlrs per share for formation of valero natural gas partners lp 1986 3rd qtr includes after tax loss from discontinued operations of 315 mln dlrs or 126 dl share
duff and phelps lowered the ratings assigned to public service electric and gas companys fixed income securities valued at a total of 344 billion dlrs
however pesch entered his second offer with representation from donaldson lufkin and jenrette securities and security pacific merchant banking group
dividend pay march 27 record march 5
it said the frame would reduce vehicle weight and cost while maintaining structural integrity and crashworthiness
giorgio will be operated as a separate subsidiary avon said and would not compete with avons direct selling beauty products business
gulf escorts still under discussion weinberger
shr 127 dlrs vs not given net 5097000 vs 3164000 sales 481 mln vs 317 mln year shr 142 dlrs vs not given net 5194000 vs 3457000 sales 1004 mln vs 701 mln note company went public in may 1986
liberalization got underway in may 1985 when foreign banks received bundesbank permission to lead manage mark eurobonds
nucor corp nue raises quarterly
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
talks were also expected to take place with the algerians he added
it was not a wonderful sales quarter but it only represents 14 pct of the years total results stanley said
the latest aid package is the third since 1977 for rgc a major employer in queenstown on the thinly populated west coast of tasmania
salomon raises size of cmo to 350 mln dlrs
the plan also contemplates the recapitalization of preferred stock whereby each share will be converted into three shares of common stock
the following proposed securities offerings were filed recently with the securities and exchange commission uno restaurant corp initial public offering of one mln shares of common stock including 250000 by current holders at an estimated eight to nine dlrs each through ag edwards and sons inc
the base rate assumes a rate of return of 1157 pct down from 131 pct
house 0 92 farm proposal seen sparking debate
while the consensus is for an increase a few would not rule out the possibility of an decline
quaker chemical corp qchm sets quarterly
german banks say uncertainty about economy growing
us senator to propose 0 92 for 1987 crops
most expect the prime lending rate at major banks to remain at 7 1 2 pct
lyonnaise des eaux forecasts 1987 profit rise
gross national product grew 13 pct in the fourth quarter
klm already active in the fast growing door to door delivery market through a 50 pct stake in a dutch courier service is seeking to buy one third of iml air services group ltd from british and commonwealth
non manufacturing sector profits will decline 45 pct in 1987 88 against an estimated 22 pct rise in the current year it said
madrid metro halted as spanish strikes spread
the two companies manufacture linerboard and boxboard from recycled fibre
prices could easily drop to as low as 100 dlr or even 80 cents a lb this year from around 125 dlrs now they said
sales for the next marketing year which begins september 1 totaled 503200 tonnes and were mainly to iraq and taiwan
the uk trade department said it would not refer consolidated goldfields plcs cgldl purchase of american aggregates corp to the monopolies commission
the government should act without further delay to absorb the 17 billion dlrs of development aid it will receive in 1987 he said
the two firms will later set up a joint venture to produce the polyphenylene resins and compounds which will be marketed independently under their respective trademarks
in 1986 the exchange introduced live cattle and pig cash settlement contracts representing a move away from the problems of cash distortions and squeezes which initial deliverable buyers option contracts created he said
in the meantime bankers expect further pressure will be exercised on the regional banks and the major us banks to find a solution to the problem
rj reynolds to redeem 12 billion dlrs of 1120 pct notes
shr 24 cts vs 21 cts pay may 25 record may eight
woolworths ltd reports 927 mln dlr net profit yr end feb 1 vs 6320 mln
prime computer inc prm 3rd qtr sept 28
obviously dayton hudson people feel whatever statutes we have would not protect them enough vanasek said
for the year as a whole incoming orders should rise between one and two billion marks to around 51 or 52 billion
rsi corp rsic 2nd qtr feb 28 net
bank of nova scotia said it would apply for a common share listing on the tokyo stock exchange
the seasonally adjusted current account surplus also dropped to 84 billion dlrs in february from the record 883 billion set in january
netback values for the mediterranean region are shown below in dlrs a barrel
the company named painewebber inc as sole underwriter of the offering
new orders for durable goods received by us manufacturers rose 57 billion dlrs or 60 pct in february to 1012 billion dlrs the commerce department said
the issue price represents a premium of 657 pct over the stocks closing price of 653 yen
of the 29 mln dlrs the insurance carrier will provide for the civil settlement 750000 dlrs will go to settle a derivative lawsuit
washington bancorporation 1st qtr net
speaking to reporters prior to testifying at a house agriculture committee hearing yeutter said it is difficult to comprehend that a trade decision affecting only 300 mln dlrs in goods caused the stock market collapse yesterday
he said shipments of 35000 to 50000 tonnes of low specific gravity barley were also expected this month and added that greece the netherlands ireland and belgium were considering imports of spanish flour for milling
sources close to finance minister edouard balladur said that he would be happy to see an interest rate cut and dealers said any fall in the intervention rate was most likely to come when the bank of france buys first category paper next monday although an earlier cut could not be excluded
the dollar rebounded to about 14520 yen
baker said in my view they have not rejected it out of hand at all and that it will be considered should we choose to advance it at the april meeting a us contribution of that size would lead to an effective four year lending program by the bank of 229 billion dlrs
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
the name is intended to eliminate confusion between the parent company and its principal subsidiary combined insurance co of america
a spokesman for the state chilean copper commission in santiago confirmed there had been no damage at chuquicamata
swedens ruling social democratic party gave full power to the government to decree unilateral trade sanctions against south africa prime minister ingvar calrsson said
malaysian miners criticised the us for violating an agreement with southeast asian producers by selling more stockpiled tin in 1986 than agreed
but with the dow ford and ge offerings the marketplace has had enough for the time being the prudential bache officer admitted
he hasnt bought any more stock or sold any roderick said
squibb is cetus first pharmaceutical partner and the only one to own an equity position in cetus
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
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
brazil seamen continue strike after court decision
jacobs said he sold his gillette stake based on an investment decision
us defense secretary caspar weinberger said the us sought no further gulf hostitilies but was ready to deal with any iranian response to mondays attack on an iranian oil rig
morgan guaranty trust co of new york london branch will be issuing and paying agent
concord fabrics cis restructuring debt
this represents over 25 pct of professional management and indirect employees it added
uk one billion stg tranche of 8 3 4 pct treasury bonds due 1997 exhausted dealers
analysts believe pacific westerns aggressive and cost conscious chairman rhys eyton will develop the true potential of the former cp air which floundered for four decades inside the bureaucracy of conglomerate canadian pacific ltd
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
analysts have said ual made itself vulnerable to attack when it diversified away from its core airline
group seeks prime medical pmsi holder list
dai nippons share price rose 20 to 1800 yen on the tokyo stock exchange today
gte services a unit of gte corp evaluated 23 competitive call accounting systems the company said
year 1986 div 70p vs 122p shr 96p vs 313p pretax profit 44 mln stg vs 1180 mln net 176 mln vs 377 mln total turnover 1838 mln vs 3480 amortisation 714 mln vs 863 traded oil purchases 412 mln vs 445 mln administration expenses 62 mln vs 80 mln net interest payable 64 mln vs 48 mln related companys credit 61 mln vs nil
us trade representative clayton yeutter today said that if the european communitys council of ministers approves a tax on vegetable oils and fats another major transatlantic trade row will erupt over agriculture
simex also became more competitive after this months budget eliminated withholding tax on interest earned on futures margin deposits
they are progressing as far as i have heard dumas told reporters
it said the bonds will be convertible into alza common stock at an expected premium of between 17 and 22 pct of the share price on the pricing date
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 tender offer is therefore void it said
gulf barge freight rates continued to show a firmer tone in the nearbys on the assumption that changes in the gulf posted prices will encourage increases in both pik and roll activity and barges shipments with a total of 21 barges traded this morning on the st louis merchants exchange call session versus nine yesterday dealers said
health and rehabilitation properties trust said it reached an understanding to purchase three nursing facilities in mass
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
quite possibly it can be achieved johnson said the paris agreement achieved a better alignment of exchange rates in exchange for stimulus by the major surplus countries
no price was given for the deal
mid state mssl first federal in deal
csr has said that it will concentrate development on its core businesses of sugar and building materials after its moves into energy several years ago
he said he believes the stock is worth only about 50 dlrs on a takeover basis and about 46 dlrs on an earnings basis
captive had 2649500 common shares outstanding before the merger
the us agriculture department increased its estimate of soviet 1986 87 grain imports to 26 mln tonnes from last months projection of 23 mln tonnes
energy secretary john herrington has proposed several ways to boost us oil production but he said all would cost the treasury money and will come under close white house scrutiny before action is taken
amcor will acquire radas nzfp stake to add to its existing 11 pct and will seek statutory approval to increase its holding to 50 pct
usair received an offer from trans world airlines to buy the airline at 52 dlrs cash per share
in addition hbo said its financial condition is improving rapidly as the result of a significant restructuring implemented in 1986
the report also could not be confirmed by several bank dealers
the specialty steel industry of the united states and the united steelworkers union said in statement that imported steel was still flooding the domestic market and continued curbs were needed to restore the industrys health
the fork lift truck and hydraulic sector saw world group sales rising 124 pct to 152 billion marks and incoming orders gaining 80 pct to 157 billion marks
the ico executive board meets tomorrow in london
no bundesbank policy changes expected thursday
he said several agencies currently helped fema to manage the stockpile and decide how much to sell to help the deficit
vernes said that the protest involving 770000 tonnes of sugar from french producers alone was prompted by the ecs policy since mid 1986 of offering export rebates which failed to give producers an equivalent price to that they would obtain by offering sugar into ec intervention
a rio port spokesman said the halt would cause daily losses of about 100000 us dlrs
comdata network inc said it has entered into a letter of intent with a limited partnership managed by welsh carson anderson and stowe wcas to merge comdata into a corproration to be formed by wcas
a group controlled by equitable bancorp chairman alfred lerner said it has acquired a 96 pct stake in ameritrust corp amtr and may buy up to 249 pct if obtains regulatory approval
also excluded would be interest rate and foreign exchange contracts traded on organized exchanges
the may september rains normally provide the drought striken areas with 80 pct of annual rainfall
phelps dodge continues to lower its cost of producing copper the executives said
the other half of the loans were from first citys lead bank in houston
but some industry officials predicted any government measures were likely to have limited effect as long as the world semiconductor market remained weak
moore mccormack mmr completes unit sale
chemlawn chem rejects wastes wmx offer
in the first case the board said it found knapp failed to maintain rquired net capital filed inaccurate focus part 1 reports and inaccurately calculated the amount required to be on deposit in the special reserve account
he did say though that micron publicized the invoice documenting the sales on the same day they were made and that oki was unable to locate the person who had bought the chips when it tried to buy them back last week
i told him we are not a colony or something said watanabe
if we go on using up farmland as we have done since 1980 there will be none left in 20 years to grow grain on xu jinfeng a middle aged official in fengbang village on the edge of shanghai sums up the dilemma china faces as it tries to feed its more than one billion people and at the same time let them get richer by building factories and new homes
neda said gnp had grown 356 pct and gdp 325 pct in the fourth quarter of 1986 from a year earlier
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
shr 75 cts vs 64 cts net 11174000 vs 7408000 sales 2188 mln vs 1063 mln nine mths shr 180 dlrs vs 154 dlrs net 23762000 vs 16603000 sales 4148 mln vs 2959 mln note 1987 net income excludes preferred dividends of 24 mln dlrs in the quarter and 27 mln dlrs in the nine months compared with 188000 dlrs and 563000 dlrs in 1986
share adjusted for one for five reverse split in october 1986
corrected major swiss banks raise customer time deposit rates 1 4 point to 3 1 4 pct credit suisse
topsoil moisture was rated 30 pct adequate and 70 pct surplus and subsoil moisture was rated 100 pct adequate
m a r c inc marco 2nd qtr sept 30 net
the bundesbank wants to keep rates around 380 pct one dealer said
diamond shamrock drm raises crude postings
bank of montreal had 198 billion dlrs in loans to brazil as of last september 30 the most of any canadian bank
dunkin donuts inc dunk 1st qtr jan 24 net
newmont mining nem plans 2 for 1 stock split
uk says has no role in brazil moratorium talks
david m
hard hit by loan losses in energy and real estate in texas struggling economy the only major texas banks able to report profits in 1986 were texas commerce and republicbank which earned 540 mln dlrs
the newspaper said that air atlanta which flies to 11 us cities has a fleet of five boeing jets with passenger capacity of 110 and employs 400 people is making losses
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
first albany and wheat first co managed the deal which was reduced from an initial offering of 30 mln dlrs
and one official added that the key latin officials would be present at the semi annual meetings of the imf and the world bank
european community ec farm ministers were fighting hard early today to prevent a deal on cutting overflowing milk production from turning sour before trying to agree widescale reforms in other surplus sectors
vms strategic land trust declared an initial dividend of 30 cts a share payable may 15 to shareholders of record april 20
shareholders at the companys april 27 annual shareholders meeting will be asked to approve an increase in the authorized common shares outstanding to 200 mln from 100 mln shares a company spokesman said
continental materials said the offer had been received from continental associates a group of st
first qtr 1987 includes non recurring charge of 1488000 for companys abandoning of its plan to convert to a limited partnership
national capital real estate trust said it has entered into a definitive agreement to sell its irvine commercial center in irvine calif to shuwa corp of california for 1085 mln dlrs
castle and cooke cke takes fourth qtr loss
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
a hefty slice of new us treasury supply is not the most welcome prospect for a slumbering credit market but at least this weeks offerings should provide it with some focus economists said
it said the rights may be redeemed by the company for one ct per right at any time prior to 10 days following a public announcement that a 20 pct position has been acquired
liberty financial group inc the parent of liberty savings bank said it has signed a definitive agreement to be acquired by equimark corp eqk the parent of equibank for 48 dlrs a share of liberty
iranian gunboats usually check a ships nationality and cargo before attacking but the pivot was hit near bu musa island without warning they added
but their discussion should make clear that neither has a chance of surviving when it comes up for substantive consideration by ec farm ministers later this month they added
local and foreign securities housess may now underwrite 262 pct of 10 year bonds up from 26 pct previously
japans rubber stocks fell to 44980 tonnes in march from 46198 in february and from 53784 in march 1986 the japan rubber trade association said
recent west german data have shown falling industry orders lower industrial output and slowing employment gains
in addition quarto will pay a dividend to north american coal of about 10 mln dlrs from retained earnings before closing
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
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
california micro camd grumman gq set pact
other members of the board are chairman don friedkin president and chief executive officer mark fukuhara and jay watnick ira goldstein thurman sasser and michael clinger
us m 1 money supply rises 21 billion dlrs in feb 16 week fed says
trade sources said new regulations governing export rebates which are due to be adopted shortly may smooth the path for the commission to award larger export rebates in future
administration officials saying the lease sales were preceded by an intense environmental impact study denied that the oil and gas exploration would hurt subsistence resources
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
he said the reagan administration would be reviewing the coffee policy situation following the collapse of the london talks but nobody is proposing we change our position however other us government officials involved in coffee policy said they are bracing for a diplomatic and coffee market offensive from producer countries led by brazil and colombia to soften the consumer position
talks between unions and employers yesterday and today produced no result but fnv spokesman bert duim said the union was prepared to put their key demand for a 36 hour working week at the bottom of the agenda
the modest rise continued the recent rally from an oversold situation but dealers noted there was little fresh physicals news to stimulate activity
the refinery is run by suralco jointly owned by the us company alcoa and the dutch company billiton which is a wholly owned subsidiary of royal dutch shell
chase manhattan bank na london branch will be issuing and paying agent
commercial credit co said its american health and life insurance co sold its ordinary life insurance business to american national insurance co anat american national will assume the business no later than august 31 1987 commercial credit said
oper shr 26 cts vs not given oper net 866000 vs 480000 note 1987 net excludes 157000 dlr gain from termination of pension plan
squibb could not be reached to comment on the late comments by fildes
dickey and three dixons executives vice chairman and financial director egon von greyerz corporate finance director gerald mn corbett and secretary jeoffrey budd
baker says g 6 pact just a start
cincinnati gas cin files shelf offerings
the us agriculture department reported the farmer owned reserve national five day average price through april 8 as follows dlrs bu sorghum cwt natl loan release call avge rate x level price price wheat 262 240 iv 465 v 465 vi 445 corn 138 192 iv 315 315 v 325 x 1986 rates
the french treasury has decided to repay 680 mln francs of debt issued before 1950 the finance ministry said
the continuing serious recessionary conditions in singapore and malaysia and the depressed condition of the shipping industry made it necessary to provide heavily against bad and doubtful debs arising from loans in the asia pacific region on top of the normal level of provisioning barber said
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
mobil said gains were in indonesia where a sixth production facility began operation in october with a capacity to manufacture 17 mln tonnes of liquified natural gas
roses operates 224 discount stores as of february 1987 compared to 208 stores a year ago in 13 southeastern states
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
shr profit three cts vs loss seven cts net profit 161000 vs loss 367000 revs 243 mln vs 265 mln
it was approved by the house international finance subcommittee and sent to the full house banking committee which will consider the measure next week
a euro commercial paper program for provinsbanken a s of denmark has been increased to 250 mln dlrs from the original 100 mln merrill lynch capital markets said
fees total two pct with 1 1 4 pct for selling and 3 8 pct each for management and underwriting
he said the decision to take action was made after a port worker died yesterday after being electrocuted
security pacific will provide expertise in consumer and commercial lending as well as data processing support
utilicorp ucu unit buys stake in power plant
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
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
given these circumstances kohl will probably overlook poehls past as an adviser to former social democrat chancellor willy brandt and top aide to helmut schmidt when he was finance minister bankers said
bankers welcome spanish reserve requirement hike
about a third of the cash payable would be met from bps own resources
investors will pay for the bond on april 29 and the bond matures on the same day in 1997
the selling concession is 1 1 8 pct while management and underwriting combined pays 1 2 pct
chevron chv unit accepts american express
us takes tough stand on gatt farm issues
distillate fuel stocks held in primary storage fell by 88 mln barrels in the week ended march six to 1196 mln barrels the energy information administration eia said
the balance of purolators stock will be bought for securities and warrants in a new company holding the us courier operations
repayment starts in 1989 and is in 20 semi annual instalments
the states cdu premier uwe barschel had to resign after allegations of a dirty tricks election campaign led to heavy losses for the cdu in state elections
top level talks last week between the european community ec and the united states failed to resolve a dispute over pasta which may provoke new trade frictions next month diplomatic sources said
vms strategic land trust said it delcared an initial quarterly cash dividend of 30 cts a share payable may 15 to shareholders of record april 20
reserve money the total available to monetary authorities was a provisional 5258 billion pesos at the end of 1986
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
he said heinz ketchup has its highest market share in history 55 pct
gus has received irrevocable undertakings to accept the offer in respect of 391 pct of pantherella shares from the companys directors and their families
analysts said jardine matheson made net interest payments of about 200 mln dlrs last year slightly below the 213 mln dlrs of 1985 while the companys term debt remained at about the 1985 level of 27 billion dlrs
pay date is april 7
it had gains of 813 mln dlrs in 1985
redland is still in the driving seat said tim cohen of ord minnett ltd adding that redland would be happier having csr as a partner in running monier than etl
however the gao has decided to reassess those estimates based in part on usda criticism department officials said
jamaica puts cap on borrowing
the pennsylvania enterprises board rejected the offer two weeks ago as being inadequate
opec has shown itself to be in control of the world oil situation with its speed in hammering out a pact to limit crude oil output to 166 mln barrels per day bpd for the rest of 1987 oil traders said
shr 23 cts vs nine cts net 5700000 vs 1920000 revs 355 mln vs 198 mln 1st half shr 41 cts vs 17 cts net 100 mln vs 3100000 revs 693 mln vs 367 mln note share adjusted for two for one stock split approved in december 1986
us personal income rose 09 pct or 324 billion dlrs in february to a seasonally adjusted annual rate of 35813 billion dlrs the commerce department said
greece has repeatedly said the issue was legal and could be solved at the international court of justice
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
a close above the contract high of 07665 would signal a breakout sloane said and would likely mean the nearby canadian dollar contract would extend its advance to near the 07800 level
chrysler will be challenged to integrate these facilities and the distribution network it is acquiring s and p said
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
italy was the largest ec recipient with 75000 tonnes followed by west germany with 55200 and france 52000 tonnes
i believe theyve made an effort to satisfy the iccs objections he said
shr 56 cts vs 35 cts net 10271000 vs 6425000 loans 144 billion vs 120 billion deposits 236 billion vs 196 billion assets 296 billion vs 255 billion
nigeria britain agree rescheduling of official debt government sources
ec official faults us trade bill
china official condemns government grain policy
results include loss of 7435000 or eight cts shr in prior nine mths from discontinued operations
brazilian beans are available to japan for shipment from may to july
many dutch banks have reacted favourably to the decision not to copy the last german discount rate cut but pierson warned it could actually add to uncertainty over the guilder
mason hawkins and william reid who work for southeastern asset management inc said they bought their killearn stock with personal funds as an investment
mutual of omaha interest shares muo qtly div
finlands neste oy whose turnover last year was over five billion dlrs has extensive experience with mtbe
metal box plc mbxll is issuing 60 mln stg of convertible eurobonds due april 28 2002 with an indicated coupon of 5 3 4 pct to six pct and priced at par swiss bank corp international ltd said as lead manager
sun cos sun refining and marketing co subsidiary said it is decreasing the price it charges contract barge customers for heating oil in ny harbor by 050 cent a gallon effective today
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
shr 22 cts vs 20 cts net 4033000 vs 3398000 sales 1253 mln vs 991 mln avg shrs 184 mln vs 175 mln nine mths shr 89 cts vs 78 cts net 159 mln vs 136 mln sales 4137 mln vs 3450 mln avg shrs 178 mln vs 175 mln note1987 3rd qtr per share reflects issuance of two mln shares in initial public offering
but it was not enough to cover the losses from a drop in the average price from 2588 dlrs per barrel in 1985 to 1390 dlrs last year
by march 10 only 230000 bags had been shipped the sources said
extensive drilling continues at goldstrike the company said adding that the full economic value of the property cannot be assessed until further results are available
there was not a lot of interest to sell the market because of belief in opec said richard redoglia a broker with merrill lynch futures inc
the non binding senate resolution a sense of senate sentiment was approved on a 99 to 0 vote
howell corp hwl 4th qtr loss
richard gephardt a missouri democrat who is seeking his partys 1988 presidential nomination said he may offer an amendment to call for reductions in the trade surpluses of those countries with barriers to imports of us goods
ccr said the negotiations would determine the terms under which the ccr board could support an intercep tender offer
in active trading this week the market pushed the dollar sterling the canadian dollar and australian dollar higher
lucas sees continued growth in second half
near july traded at its session low of 1327 stg after one hour versus 1333 bid last night and an early high of 1335
the company said part of the agreement includes payment of up to an additional 65 mln dlrs based on the performance of the unit in the year following the closing
he said venezuela currently produces about 14 mln bpd of crude oil which is in line with its 1495 bpd opec ceiling
ppg industries ppg sells ethylene interests
the board also authorized a special committee and morgan stanley to vigorously investigate pursue and authorize any alternatives which would maximize the value of shareholders investment in the company the company said
however the introduction of the new model had kept this years pre tax profit down
addressing a gathering of analysts and institutional investors marshall also said that analysts estimates of its first qtr earnings 50 cts to 55 cts per share were in the ballpark marshall said the full year estimates represent more than a 32 pct increase over 1986s fiscal year net of 170 dlrs per share
resorts also has about 6432000 class a common shares outstanding
oct 3 end shr 40 cts vs 35 cts net 3149000 vs 2433000 revs 2254 mln vs 2259 mln avg shrs 7800000 vs 7157143 nine months shr 91 cts vs 63 cts net 7114000 vs 4540000 revs 747 mln vs 7282 mln avg shrs 7800000 vs 6767143
first boston the swiss affiliate of first boston inc said it raised its stake in the company to 11262307 shares or 355 pct of the total from 10262307 shares or 328 pct
the ucap spokesman said the american soybean association asa had spent about 25 mln dlrs lobbying for the bill
newmont doubled its ownership in peabody in january by purchasing 3074 pct interest held by the williams cos for 320 mln dlrs
first boston corp co managed the deal
china resumes ussr ship repairs after 23 year gap
the panelists agreed that the reports should discourage talk of revising the 1985 farm bill
shr loss 47 cts vs loss 63 cts net loss 1450000 vs loss 1930000 revs 147 mln vs 133 mln note year ago resulted restated to exclude michigan cable systems sold in 1985
goodyear gt to sell stake in toyobo petcord
oper shr loss 199 dlr vs loss 488 dlrs oper net loss 291 mln vs 708 mln revs 348 mln vs 848 mln note 1986 and 1985 oper net excludes a loss of 55 mln dlrs or 37 cts a share and 646 mln dlrs or 443 dlrs a share respectively for discontinued operations
shr 13 cts vs three cts net 617000 vs 112000 sales 313 mln vs 114 mln avg shrs 4877057 vs 3310585 note 1987 net includes 87000 dlr tax credit
an egyptian trade official in paris confirmed cancellation of the tender following the islamic corp offer which he said the government had refused for legal reasons
hokkaido takushoku bank issues convertible bond
diamond star motors names additional suppliers
advanced institutional aimso in new facility
it said the offer is dependent on filings with the securities and exchange commission
cimarron petroleum ltd nine mths net
hashimoto also said parent current profit in the five month period is estimated at around 17 billion yen down 33 pct from a year earlier on sales of 400 billion down 12 pct
the bank of japan bought a small amount of dollars shortly after the opening at around 14530 yen dealers said
exxon xon oil and gas production rose in 1986
russ togs inc rts sets quarterly
i give you my word that france while it will not reject technical adjustments or serious discussion will simply reply in the negative to these bad reforms guillaume told the annual conference of the countrys major farm union fnsea federation nationale des syndicats dexploitants agricoles community agricultural ministers are due to meet again monday to try and agree a package of reforms to curb spiralling ec output and fix farm prices for 1987 88
brazil bank committee agree on credit request
periods ended feb 28 shr 22 cts vs 30 cts net 549000 vs 747000 sales 84 mln vs nine mln avg shrs 2550784 vs 2468964 nine mths shr 69 cts vs 63 cts net 1749000 vs 1554000 sales 236 mln vs 213 mln avg shrs 2543711 vs 2453520
pengo said its kuykenball slickline operation in moore and surplus wireline equipment operations in fort worth and cleburne texas will be sold separately
rogers said the plan is not being adopted in response to any specific takeover attempt
murren said that despite the downturn in sales last year wendys real sales store for store turned upwards in the fourth quarter
but yates today said a big uk company has in fact said they would go on supplying
in line with its planned global expansion efforts benetton is also holding talks with the soviet union to explore the possibility of opening up to 150 stores in the country
on a seasonally adjusted basis we appear to be making some progress on getting exports down jardines rasmussen said
john lafalce d ny who said it would help ease the third world debt crisis
last month petrobras cancelled a 40 mln dlr oil purchase from saudi arabia after the saudis refused to accept credit guarantees from the official bank of brazil
eastman kodak ek sells 25 mln dlrs of notes
he noted export registrations for the first four months of the year totalled around 55 mln bags more than half the 99 mln exported in 1986 when drought reduced the crop to between 112 mln and 12 mln bags
corrected hecla hl to buy mine stake from bp
on friday washington announced plans for as much as 300 mln dlrs in tariffs on japanese electronic goods for tokyos alleged failure to live up to a bilateral computer chip pact
it will be higher a morgan stanley spokesman said the offering has been approved by the securities and exchange commission but a kick off date and price have not been set
foreign exchange dealers said the yen funds would be used to buy dollars to prevent a further dollar fall
in early trading it had fallen to 2430 dlrs because of rumours yesterday that the firm planned a rights issue
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
cut were the companys senior debt to bb minus from bb and subordinated debt to b plus from bb minus
the smoothed series adjusted to iron out random fluctuations shows a widening surplus on merchandise trade to 46 mln from a surplus of 33 mln revised from 43 mln dlrs in december and a 71 mln deficit in the a year ago period
yeutter plans trade trip to china this summer
brazil will lift moratorium only after bank pact
oil output was halted on march 5 by an earthquake which damaged 50 km of the main pipeline linking jungle oilfields at lago agrio to the ecuadorean port of balao on the pacific
arrivillaga said bilateral aid donors who form part of a consultative group led by the world bank might be prepared to finance the land transfers
loosening the tie between the guilder and the mark would reduce international confidence in the guilder and make it more dificult to attract foreign capital they said noting dutch interest rates rose sharply when the guilder was not revalued completely in line with the mark in a 1983 ems realignment
the other floating rate class totals 1324 mln dlrs and has an initial rate of 6975 pct that will be reset quarterly at 60 basis points over three month libor with a 13 pct cap
concord fabrics inc said it has restructered its long term debt with an institutional lender
weizsaecker speaking to the bolivian congress yesterday said of latin americas 380 billion dlr foreign debt debtor countries and creditors must cooperate with the banks and international financial organizations to find long term solutions bolivias debts total 44 billion dlrs
regency cruises ship sells ship interest
the bankers who declined to be identified said the agreement also will give banks the option to convert their existing debt into term loans for 10 years with five years grace
the company said completion of the transaction is subject to regulatory and shareholder approvals
imports of palm oil totaled 440 mln lbs compared with 513 mln lbs in december and 852 mln a year earlier
in the merger holders of remaining instinet shares will receive 850 dlrs of american depositary shares for each instinet share
qtly div 15 cts vs 15 cts prior payable may one record april 10
but the official expressed deep misgivings that such a plan would work in the united states
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
a fairly tight balance now appears to have emerged
buying by companies that deal in petroleum helped prices recover from early weakness traders said
he said kuwait which is turning 11 oil tankers over to us firms to fly the american flag and be protected by the us warships is not considered a belligerent despite iranian charges that kuwait is supporting iraq in the gulf war
it said their purpose was seen as a signal iran was ready to continue and perhaps step up the gulf shipping war against iraq
firm agrees to merge with lotoquik intl
claremont group ltd a new york investment banking firm said it intends to boost its current 10 pct stake in champion products inc to as much as 15 pct of the total outstanding common stock
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
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
hungary has announced sharp price increases for a range of food and consumer products as part of its efforts to curb a soaring budget deficit
earlier today taft broadcasting said taft the companys vice chairman and narragansett had offered 145 dlrs for each of tafts 92 mln outstanding shares
each of the companys business segments contributed to the sharp improvement pope and talbot said
we dont want that
meanwhile the systems last realignment the 11th since it was set up prompted european finance ministers to ask the ecs highly secretive monetary committee and committee of central bank governors to come up with suggestions for reinforcing it
in the year to end january woolworth reported pretax profits sharply higher at 1153 mln stg after 813 mln previously
during its routine intervention in the market the bank trimmed the rates at which it deals with the discount houses by half a point and national westminster led the other clearing banks in reducing its base rate to 10 1 2 pct from 11 pct
the olivetti spokesman was responding to a query about italian press reports today saying that olivetti might participate in the venture with a two pct stake
it said the 1650 dlr cash alternative is an improvement over the 1500 dlr per share price contemplated under an agreement in principle with welsh carson announced on march five
key to the near term direction of futures will be the course of the dollar they said
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
kapok corp said it has cured technical defaults on laons from southeast banking corp stb and murray steinfeld and has negotiated extensions of both loans
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
israel minister sees increased exports to us 
shr 616 cts vs 481 final div 150 cts vs 140 making 230 vs 195 pre tax 7054 mln rand vs 4852 mln net 5917 mln vs 4580 mln tax 792 mln vs 822 mln attrib to outside shareholders 1237 mln vs 523 mln
but mark swap opportunities are limited
bank went public on february 11 1987
liro said the fed probably is shooting for a two week borrowings average of 300 325 mln dlrs
phoenix steel corp said a group of investors offered to buy its clayton steel plate mill for eight mln dlrs and the assumption of a bond obligation
principal repayments were not due until 1990
following the raid a okesman for tehrans war information headquarters vowed to avenge the attack with a crushing blow the united states has entered a swamp from which it can in no way get out safely tehran radio quoted him as saying
the sources said no direct reply was given to romero at the meeting
united medical corp um sells unit
this step would be very expensive for all and no one would emerge as a winner if the tax were introduced he said
the us treasury said it will sell 95 billion dlrs of one year bills at auction
level iv reflects grain entered after oct 6 1981 for feedgrain and after july 23 1981 for wheat
kendall formerly served as executive vice president and chief operating officer
but these will be made available to you ongpin confirmed on tuesday that a report from new york that manila will pay its commercial creditors 111 mln dlrs over 1987 1989 was accurate
south korea to maintain trade surplus 3 5 years
it also forecast higher 1987 sales due to an increased order backlog
it was the fourth federally assisted merger or acquisition of a troubled savings institution this year the fhlbb said
no injuries were reported
at its annual meeting fortune said shareholders also voted to change fortunes name to tigera inc
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
bil has said it was the mystery bidder behind a recent stand in the market for three mln progressive shares
ali told a news conference that including iraq opec third quarter output will be between 175 and 177 mln bpd while fourth quarter output will be nearly 18 mln bpd ali did not detail what effect he thought these production levels would have on prices
dome has the right to force conversion if dome common reaches 3885 dlrs per share
it said the copper sales value was up from 2676 mln dlrs in 1985 reflecting a 101 pct increase in quantity sold to 212000 short tons and a 04 pct decrease in price
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
gaf gaf seeks information on borg warner bor 
us dealers will be attracted particularly to europe where the market will expand faster than the us he says
switzerland had a trade deficit of 6297 mln swiss francs in february compared with a revised 2094 mln deficit in january and 7232 mln shortfall in february 1986 the federal customs office said
champion products ch sets pay date for split
beneficial had previously announced plans to leave the insurance business
cpt corp cptco 1st qtr sept 30 loss
mas said interbank lending fell in january to 1409 billion dlrs from 1466 billion in december but rose from 1020 billion in january 1986 and interbank deposits to 1540 billion against 1594 and 1171 billion respectively
hk stock exchange bars new b share issues
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
foreign bankers said this type of proposal might prove attractive to bolivia in the long run especially as the government realises that it will have to attract a large amount of new capital in order to grow
shr 34 cts vs not given net 510192 vs 328428 nine mths shr one dlr vs not given net 1489831 vs 741136 note company went public in september 1986
company officials were not immediately available for comment
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
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
french industrial production fell 095 pct in july august from june insee data
a cibc spokesmn said the issue yields 49 basis points over equivalent canadian treasury bonds
the fed said that business loans including acceptances fell 11 billion dlrs to 27867 billion dlrs
it said closing is dependent on receipt of necessary regulatory approvals and other matters and after closing trump will tender for remaining class b shares at the same price
its going to be another tedious day and i cant see how anybody is going to make any money he said
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
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
pbs whose subsidiaries design make sell and lease nonresidential relocatable modular buildings said it bought the stake for 85576875 dlrs to acquire an equity interest in modulaire while it evaluates modulaire depending on several factors pbs said it may decide to buy additional modulaire common shares
they said ec foreign ministers will meet on may 25 and 26 to review the state of trade relations between the two sides
although many of the specific policies gorbachev has adopted are not new the intensity gorbachev has brought to his efforts and his apparent commitment to finding long term solutions are attributes that his immediate predecessors lacked
beef producers are becoming more confident that higher returns in the market both domestically and overseas will continue the amlc said
each 10000 franc bond has one 275 franc warrant giving the right in the first three years to exchange the host bond for a similar non callable 9 1 8 pct 1994 bond or in years four seven to buy a 9 1 8 pct 1994 non callable bond
relaxation of issue rules would be better applied not only to straight corporate bonds but also convertible bonds and warrant bonds to call back issuers effectively from overseas markets a nikko securities house bond manager said
qtly div two cts vs 17 cts pay march 26 record march 12
ball corp said it completed the purchase of privately held verac inc a san diego defense systems and software development company
us feedgrains group attacks canada corn ruling
southwestern energy swn arkla alg set pact
a number of producer governments in particular have not decided their final position on whether the ita should be extended for up to two years or wound down after it expires on june 30 according to delegate sources
the company said the warrants will be offered solely to investors in the painewebber geodyne energy income program ii
fees consist of a one pct selling concession and 050 pct combined underwriting and management
usda also said the current program imposes a heavy cost on us consumers and industrial users
seton said the agreement and plan of merger provides that all shares of seton co common stock not held by s acquisition corp or its units will be converted upon the merger into the right to receive 1588 dlrs per share in cash
iran and the soviet union have provisionally agreed to hold talks on a possible exchange of iranian crude oil for finished soviet oil products an official spokesman said tuesday
fed expected to set three day repurchase pacts
the national wildlife federation rejected an interior department draft plan to open wilderness lands in northern alaska to oil and gas exploration
salomon issues 228 mln dlr floating rate cmo
reserves rose by 170 billion rand during january and february
porex technologies corp said its board declared an initial annual dividend of 10 cts per share its first payout payable march 26 to holders of record march 12
thermo electron tmo considers unit stake sale
the aggressive use of the treasury bill program has meant that the government is now able to maintain lower cash balances and lower financing costs said bouey who was replaced by deputy governor john crow last month
wessanen foresees strong profit growth
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
taiwans 1986 trade surplus with washington was the third largest after japan and canada
the company also said it completed negotiations to sell between 10 and 12 mln cubic feet of gas per day to a large unspecified east coast utility
oppenheimer sells six pct cyclops cyl stake
the case involving the toyota shoji company was highlighted when its 32 year old chairman kazuo nagano was stabbed to death here in public view in june 1985
non refundable for 10 years the issue is rated a 1 by moodys and a by standard and poors
okongwu left paris today for london and is due back in nigeria on monday diplomatic sources said
the remainder of the gilt edged funding program would be met by traditional tap offerings of stock via the government broker
we consider this to be a merger of equals spiller will become chairman of boston five bancorp and neworld president james m
general electric ge to redeem rca corp notes
franklin massachusetts sets monthly payout
thompson medical co inc tm declares qtly div
hawkeye bancorps 1986 annual financial results were qualified by its auditors according to the annual report
ltv qltv to negotiate with steelworkers
we are seeing the program beginning to work said meyer
imf approves 1259 mln sdrs for jamaica
production costs are considerably higher in the united states than in such areas as the middle east and as prices fell many domestic producers were forced to shut down their operations
m 3 which is non personal fixed term deposits and foreign currency deposits of residents booked at chartered banks in canada rose 113 billion dlrs to 21728 billion dlrs
posted propane prices were unchanged at 110 dlrs per tonne the company said
todays announcement brings to 157 the number of goods for which similar measures were taken this year a ministry official said
usually the issuer of a floating rate debt security swaps into fixed rate debt and vice versa
as far as i can tell from the public documents from the deal thats on the table hutton is basically putting up zero
trade with the us in 1986 rose 23 pct for exports and 12 pct for imports in dollar terms but fell 13 pct for exports and 21 pct for imports in yen terms
2nd qtr feb 28 shr loss two cts vs loss eight cts net loss 33482 vs loss 163130 revs 143961 vs 287131 1st half shr loss 14 cts vs loss eight cts net loss 276238 vs loss 149407 revs 273737 vs 679860
the south australia government financing authority is issuing a 25 mln australian dlr zero coupon bond priced at 5175 pct lead manager hambros bank ltd said
national hmo corp nhmo 2nd qtr jan 31
smith barney analyst cuts hercules hpc rating
michael krupp a golden colo businessman and major shareholder of kappa networks inc said he and kappas management are considering seeking a merger between kappa and radiation systems inc
st clair paint and wallpaper corp year net
using reinforced cables salvage experts intend to raise the ship and set it down into a trench dug alongside
demand good for moderate supplies of most beef cuts however limited interest noted for tenderloins flank steaks
foreign exchange dealers said todays announcement caused jitters in the market with foreign and local banks making heavy purchases of us dollars
to be eligible under the new seed credit guarantees all sales must be registered by september 30 1987 and shipped by december 31 1987 usda said
roberts said the att long distance rate reductions which had been ordered by the federal communications commission have had a significantly negative impact on our profits as reported earlier today mci said it plans to ask the fcc to immediately deregulate att apparently in hopes that an unregulated att would pocket a greater proportion of its revenues rather than cut rates further
lawson also announced that he would henceforth allow certain expenditure on oil related research which does not at present qualify for prt relief to be offset against prt liability
the us is the biggest buyer of ugandan coffee most of which is used to produce instant coffee
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
the european commission is to consider proposed new higher minimum standards for sales of durum wheat into intervention stores european community sources said
unilevers 1985 final dividend amounted 2705p the adjustment stemmed from the dividend equalisation agreement between the british company and its dutch partner unilever nv
farm credit paper was cited by some as undervalued and a good buy despite the issuers well publicized financial woes
however advances credited to the alliance last week have cast doubt on both assumptions
east asiatic issues 150 mln mark eurobond
the treasury also cut by 060 point six monthly coupons payable this september on six issues maturing between september 1988 and september 1991
distribution from april 1 would be on an unchanged basis as in an earlier producer proposal which includes shortfall redistributions totalling 122 mln bags they said
us sugarbeet plantings seen rising in 1987
standard and poors corp said it upgraded the ratings on four billion dlrs of debt of coastal corp and its subsidiaries
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
nogales said that bolivias net international reserves now stood at around 250 mln dlrs compared to one mln dlrs in disposable funds when the government of victor paz estenssoro took office in august 1985
electrical machinery orders rose in february by 82 pct to 172 billion dlrs after falling 154 pct in january
holders of existing preferred would hold about 35 pct of the new common
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
the minister said he presented an outline of the program during a cabinet meeting in which president jose sarney declared a total war on inflation
british prime minister margaretthatcher said in parliament last week that she regarded cable and wirelesss participation in the japanese venture as a test case of how open the japanese telecommunications market really was
however he noted that the us household products business had turned in a planned loss with fourth quarter performance better than expected despite the anticipated heavy launch costs of its surf detergents
as previously announced dcny said its board has also recommended a two for one common stock split to shareholders
intervention barley sales have reached just over 10 mln tonnes leaving about 753000 tonnes traders said
earlier alpha health systems corp a unit of pesch and co said it submitted a merger proposal to the board of reph acquisition co the parent of republic health
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
they denied a statement yesterday by portuguese agriculture minister alvaro barreto that the commission had accepted that epac should be eligible saying it had taken no view in the matter
transportation prices rose 05 pct in february after a 15 pct increase in january
montreal based noverco inc told the securities and exchange commission it reduced its stake in sceptre resources ltd to 1232200 shares or 48 pct of the total outstanding
the interest has not been paid for january and february and will be paid april 9 to bondholders of record on april 8 the parent company said
the fnv spokesman said the action did not yet have official backing but added that next week matters might be different
lanesborough corp is raising 50 mln dlrs via an offering of senior subordinated notes due 1997 with a 12 3 8 pct coupon and par pricing said sole manager first boston corp
some analysts said cotton farmers in the high yielding western states would be most likely to steer clear of the program
each of the five locals have separate contracts all of which expired april 30 but the main issues are similar
del rosario said the 14 mln b shares in the block which are open to foreign ownership would probably be sold to unidentified foreign purchasers
brazil to buy 30000 bpd of kuwaiti oil
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
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
he noted unilever has been indicating plans to dispose of stauffer plus some smaller assets of chesebrough since the bid was made in december
mfn doesnt really mean anything only that poland will not be treated worse than other countries
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
uk money market receives 16 mln stg assistance
this lowered the companys debt to capitalization ratio from 45 pct at the end of 1985 to 35 pct it said
general electric said restructuring provisions of 308 mln dlrs before taxes to implement various strategic moves were charged against operations in the first quarter of 1987
eurodollars for the same maturity rose a fractional 1 16 pct from yesterday to around 6 11 16 pct
raised were the units senior secured denver industrial revenue bonds to b 1 from ca and subordinated debt to b 3 from c
the treasury department said it would release data on us reserve assets on a monthly basis from now on instead of quarterly
one way to accomplish that specific objective is to go out and acquire other airlines said andrew kim of eberstadt fleming
dot dismisses twa twa usair u application
he said the dollar staged a precipitous drop as a new statement period began today on disappointment yesterdays washington meetings of international monetary officials failed to produce anything that would offer substantive dollar aid
it said if all options are exercised the contract will be worth a total of 78 mln dlrs
marshall attributibuted the first quarter earnings growth to several factors including sustained demand in aristechs major domestic markets and continued growth in exports
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 said the official
he said south africa had negotiated from a position of basic economic financial strength we were never overborrowed to begin with and we are now underborrowed by all international criteria that ive ever heard of de kock said
qtly 29 1 2 cts vs 29 1 2 cts prior payable june 1 record may 1
qtly div 72 cts vs 70 cts prior payable june 10 record may 15
charming shoppes inc chrs 4th qtr jan 31 net
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
coastal also said it sold its natural gas for an average price of 217 dlrs per mcf in 1986 a drop of 18 pct from the previous year
the house armed services committee has voted for a transfer in the management of stockpiled materials for national defense to the us defense secretary
the report forecasts a decline in inflation with consumer prices increasing by 85 pct this year and 625 pct in 1988
but there is a limited number of investors right now for the paper he said
eli lilly and co told the securities and exchange commission it cut its stake in liposome co inc to 500000 shares or 40 pct of the total outstanding common stock from 900000 shares or 73 pct
westwood one inc wone 1st qwtr feb 28 net
it also has an information services business and is trying to sell its financial services business
oper shr 70 cts vs 18 cts oper net 391 mln vs 100 mln sales 5436 mln vs 4896 mln year oper shr 283 dlrs vs 182 dlrs oper net 1597 mln vs 1069 mln sales 213 billion vs 194 billion avg shrs 564 mln vs 586 mln note results restated for discontinued engineering services operations
this compared with 486 billion marks in january 1986
qtly div 20 cts vs 20 cts prior pay june 1 record april 16
the dollar is now firmly within a broad 140 to 150 yen range chase bank ags senior dealer eckhart hager said
alfa laval ab alfsst 1986 year
becor western inc said its reconvened shareholders meeting has been adjourned to 1000 cdt june 30
it said holders of its common will receive one additional share for each share held as of march 20
turnover in the cash market has actually been quite small one dealer said adding that price movements had been very volatile at times
but david healy of drexel burnham lambert inc said the repurchase program is not a positive
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
base rate is currently nine pct
hre properties said its board cut the quarterly dividend to 45 cts per share from 57 cts payable april 20 to holders of record march 31
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
as a result the market became glutted said one trader
the european commission recently made available 70000 tonnes for next weeks tender
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 improvement will result from production increases lower taxes and royalties reduced financing costs and from operating efficiencies and downsizing put into place during 1986 the company said in the annual report
peninsular and oriental steam navigation co plc porll p and o said it plans a free warrant issue on the basis of 10 warrants for every 150 stg nominal of deferred stock already held to mark the 150th anniversary of the company
the exercise period is june 5 1987 to february 4 1992
macandrews forbes unit begins offer to buy all revlon group not already owned
economic activity continues to suffer due to the sharp fall in export earnings from the petroleum industry growth in the non oil sector is low because of weak domestic demand coupled with excessive plant capacity real declines in construction and trade and a reduced level of growth in agriculture the report states
in particular they discussed brazils debt moratorium
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
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 board said it based its decision on two statutory disqualifications
shr 104 dlrs vs 87 cts net 777 mln vs 642 mln revs 5337 mln vs 4618 mln avg shrs 747 mln vs 739 mln nine mths shr 335 dlrs vs 263 dlrs net 2495 mln vs 1939 mln revs 163 billion vs 136 billion avg shrs 745 mln vs 738 mln
the privatisation will be a way of attracting extra clients ccf deputy director general rene de la serre told 
wendys declined comment on takeover rumors of all kinds
mexico to sign loan amid calls for change
vws credit bank subsidiary optimistic for 1987
the departments consumer price index showed that the cost of gasoline rose in february by 42 pct after a 66 pct rise in january
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
these limits are set at 15 billion lire or two pct of the total assets of the parent company of the shareholding bank
shr 46 cts vs 33 cts net 2731000 vs 1928000 sales 662 mln vs 588 mln nine mths shr seven cts vs 61 cts net 6310000 vs 3579000 sales 1718 mln vs 1419 mln
sugar growers would be compensated for the price cut with targeted direct payments to be gradually phased out through 1990
one senior banker said he hoped that final agreement would be reached this week but cautioned that a number of major issues are still outstanding
european community ec delegates said ec consumers accepted the package in a morning meeting and predicted no problems in getting full consumer acceptance
the government is currently negotiating a package of economic reforms with the world bank and international monetary fund aimed at underpinning a renewed inflow of foreign aid to help ugandas economic recovery after 15 years of political strife
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
citibank said its reduction reflected the decline
the bid remains subject to regulatory approvals and the arrangement of financing
in addition consumer products revenues were up from last year mainly because of including sales of rca video products
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 west german intervention board said it accepted 962192 tonnes of grain from the start of the current agricultural year to the end of last month compared with 18 mln tonnes during the july february period in 1985 86
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
this could make it difficult to improve the industrys structure the paper said
the licenses of the broadcast properties have long been entangled in a series of challenges
staley continental sta regular dividend set
the stock of philip morris cos rose today following recommendations by first boston corp and morgan stanley and co traders said
1986 qtr and nine mths includes gain 178000 dlrs or one cent per share and gain 810000 dlrs or six cts per share respectively from utilization of tax loss carryforward
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
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
robert halmi inc said it obtained a five mln dlr line of revolving credit from wells fargo bank available through february 29 1988
the seasons sunflowerseed production is now forecast at 21 mln to 23 mln tonnes against 22 mln to 24 mln forecast last week and down 439 to 488 pct on the 1985 86 record of 41 mln
rjr nabisco said the expenses covered on after tax basis include 50 mln dlrs for the write down of redundant equipment and facilities resulting from modernization of its us tobacco operations 79 mln dlrs for continuing restruction of its food subsidiaries and 80 mln dlrs in connection with the early retirement of high coupon debt
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
the new policy was announced some three months after the government suspended import licences and ordered an inquiry into tea purchase policy
the repurchase window uses government bonds as an instrument with which commercial banks can borrow from or lend to the state bank
dividend payable june 3 books close may 11 21
petter skouen executive vice president of the nordic investment bank nib noted that a few weeks ago nib would have said it was disappointed with its euro mtn program but that the success of a recent issue changed their minds
the march 5 earthquake damaged an oil pipeline preventing crude exports for a projected five months
taiwan buys 60000 tonnes of us maize
id be hardpressed to jump into stocks with the dow near 2300 unless i was really convinced that earnings and multiples will increase said a fixed income securities portfolio manager at a major money center bank
analysts say that fed tightening now could choke off the current modest economic expansion and threaten a recession
boothe financial corp a diversified holding company said it has acquired the robert half and accountemps franchises in new england including four offices in boston and eastern massachusetts and one office in providence ri boothe said it previously announced the purchase of robert half international inc the franchisor of the robert half and accountemps offices in the us the company said the aggregate purchase price it paid for robert half international and the franchises was about 59 mln dlrs
it will take many years to reduce the debt to an acceptable level he said
showa denko exports aluminium casting equipment
terms of the transaction call for pittston to exchange 0523 of its own common shares for each outstanding wtc share pittston said
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
the new facility will replace the current 48 billion guilders of seven day advances expiring monday
the officials declined to give any idea of floor prices saying it depends partly on volume but industry sources estimate average export prices would rise by around 20 pct to some 800 dlrs a tonne
trading conditions in the area are particularly difficult because the citys economy depends to a large extent on the fortunes of the petroleum industry but the situation should improve in the medium to long term and the investment will prove to be sound he said
an alcoa aluminum company of america source involved in terminal trading for the company said we use all means available to manage our business so its a possibility were trading options we wont go into specifics about what were doing
jerome sitter director of ascss cotton grain and rice price support division said the decision meant farmers have until april 17 to file a farm operating plan indicating how many persons would be involved in their farming operations
31 against 1258 mln dlrs or 343 dlrs a share a year ago
jc penney cos stock rose sharply after analyst william smith of smith barney recommended the stock based on the companys strong earnings momentum and the possibility of a stock buyback dividend hike or stock split traders said
that of cpo remained at 6178238 ringgit
uk confirms january sterling m3 rise
light louisiana sweet was also raised 50 cts to 1785 dlrs bbl
under the accord taiwans textile export growth was limited to 05 pct each year until 1988
lf rothschild co managed the deal
shr profit five cts vs loss nine cts net profit 21045 vs loss 34238 revs 1156775 vs 963890 six mths shr profit 12 cts vs loss five cts net profit 48711 vs loss 18300 revs 2124157 vs 2009956
coke consolidated cokeo to sell canada unit
gaf holds 199 pct of borg warners shares
it said it received a similar qualified opinion in 1985
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
philip crosby associates inc pcro 4th qtr net
us treasurys baker meets west german minister
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
the report showed a decline in proven oil reserves to 241 billion barrels at the end of 1986 from 265 billion barrels a year earlier as discoveries and other additions dropped to 114 mln barrels last year from 232 mln in 1985
taking a dissenting view the diw institute of west berlin and munichs ifo institute predicted only one pct 1987 growth
sources noted federal government issues had also increased in size with the introduction of a four billion mark volume only starting last may
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
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
exports fell to 375 mln from 389 mln tonnes while imports rose to 572 mln from 537 mln
the 600 room hotel stands on a 26700 sq ft site on the eastern side of hong kong island
iel sets 100 mln dlr note commercial paper issue
since the offer was made over a dozen shareholder lawsuits were brought against revlon alleging the original offer was too low
rabbit software corp said it agreed in principle to merge with cti data inc a privately owned communications company
ichan still apparently has 114 pct
wang chang ming vice chairman of the council for economic planning and development told the government is planning another round of deep tariff cuts in the second half of this year
in addition to steinhardt himself the group includes steinhardt partners and institutional partners two investment firms of which steinhardt is one of the general partners
consolidated grandview inc said it acquired a 60 pct stake in all ticket group plc of london for undisclosed terms
this includes eliminating existing restrictions in the ec as far as possible
the legended shares are not tradeable for one year
but major japanese firms appear to have agreed to the production cuts several analysts said
wilson said they will meet before the june economic summit to prepare a report for the leaders of the seven nations
the producer price index for finished energy goods fell by 209 pct in the past 12 months
kenya debt servicing to absorb most aid moi
consul restaurant corp chief financial officer robert lamp told analysts a previously announced conversion offer will reduce its debt to equity ratio to 55 pct from 380 pct assuming full acceptance of the offer
the striking price then was 435 pence 75 pct above the minimum tender price a treasury spokesman said
prime minister yasuhiro nakasone sounded a conciliatory note in japans increasingly bitter row with the united states over trade in computer microchips
however there was demand for industrial casting due to increased hydro electric power generation the company said
75 06 w
domestic crude oil production was estimated at 838 mln bpd down 87 pct from 918 mln a year ago and gross daily crude imports excluding those for the spr averaged 411 mln bpd up 369 pct from three mln the eia said
teck hocks nine creditor banks have agreed to extend the companys loan repayment period for 10 years although a percentage of the new capital injection will be used to pay off part of the debt
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
the company said williams 4327p per share offer was unsolicited and unwelcome and significantly undervalues norcros
the government has set public sector wage rises at aboout 17 per cent this year with a three per cent ceiling for rises justified by increased productivity
crude oil prices up as stocks output fall
rospatch earlier requested its stock be halted in over the counter trading last trade 24 1 8
the area sown was two to 22 mln hectares down 299 to 363 pct on the record 314 mln hectares in 1985 86
wells fargo and co wfc 3rd qtr net
gunnar gold gggto in venture agreement
there is a good chance that the united states and latin america will agree reforms in the inter american development bank iadb as a result of talks yesterday with us treasury secretary james baker mexican finance minister gustavo petricioli said
sarney meets brazil business leaders
banks also face a heavy but temporary drain this month from a major tax deadline for customers
he said the trade imbalance was a serious trouble spot and strong protectionist pressures if translated into policies could ultimately lead to higher inflation and a high interest rate policy by the fed
senior representatives of the sugar cane growers had indicated a desire to commence the crush as soon as possible he added
crane cr acquires assets of marley unit
the us trade deficit has become one of the governments most vexing and persistent problems
pesch would not identify shareholders with whom he held discussions other than the bass family and the wedge group inc the only other holder of more than five pct of american medical stock
the financing being arranged by morgan guaranty will take the form of a fully committed revolving credit
we are continually monitoring the whole nationwide structure to maintain its accuracy 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
petersburg san diego and austin on april one
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
seidman said it was too early to say what effect brazils moratorium on debt interest payments would have on us banks
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
japans finance minister kiichi miyazawa said that remarks by us treasury secretary james baker on sunday that some nations were not abiding by the spirit of the louvre accord were just aimed at reaffirming that agreement
spendthrift farms sfi gets bid for control
denominations are of 1000 and 10000 canadian dlrs and listing is in luxembourg
they were also uncertain whether the fed intervened on its own account or if it executed orders for the bank of japan
distillate fuel stocks held in primary storage fell by 735 mln barrels in the week ended march 13 to 11274 mln barrels from a revised 12009 mln the previous week the american petroleum institute api said
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
investors risk in corporate default has been checked by the very system that is slowing the smooth growth of japanese credit rating agencies the managers said
trade sees us corn exports up wheat beans off
the market assumes the dollar reference range to be between 140 150 yen and between 170 and 190 marks
the seven year revolving credit has a commitment fee of 010 pct per annum under which drawings will be at 5 16 pct over the london interbank offered rate libor the facility also incorporates a swing line facility which would allow for same day drawings in the us market for up to three business days at the floating us prime rate
a spokesman said the ministry had not yet decided whether to convert the issues into new bonds but it had outlined plans for two new bonds each of 250 mln francs
many major nations yesterday intervened heavily to aid dlr miyazawa
exporters said they were not prepared to offer material on egypts new landed contract terms which include a clause free from radioactive contamination offers submitted were on old contract terms all of which were rejected
becor western inc said no business will be transacted at the shareholders meeting scheduled for 1000 cdt tomorrow and the meeting will be permanently adjourned
cons banking gp balance sheet total 2397 billion vs 2273 billion
a leaf disease affecting seven pct of sri lankas rubber plantations may reduce output this year and raise currently depressed prices industry officials and researchers told 
rotterdams main grain terminal closed by strike
fisher will trade on nasdaq under the symbol fshg
desptp omc dso 1st qtr net
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
the strikers who are seeking a 275 pct pay increase have rejected offers of a 100 pct raise from the state oil company petrobras and an 80 pct increase from the national union of maritime navigation companies syndarma leao franco said eight hours of talks in rio de janeiro with labor minister almir pazzianotto ended today without resolving the dispute
australian weekly wheat shipments week to 23 29 in tonnes for crop year beginning oct 1 current week prev week 316024 297045 crop year to date prev crop to date 7217394 8422811
he said this also widens abbeys investor base
for all of fiscal 1986 it earned 5769000 dlrs
following its fall today to a record 14840 yen dealers said they expect the dollar to establish a new trading range of 147 to 150 yen before the market again tries to push it down
an about turn on the imf issue would be politically very difficult for the sarney government and there are no firm indications such a policy reversal is in the offing
affiliated publications afp to buy billboard
newcor inc new 1st qtr jan 31 net
texacos tx debt downgraded to caa by moodys
february us jobs gains show stronger economy
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 that during the visit to bogota he held technical discussions with colombian officials
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
for the full year 1986 foreign official assets grew 334 billion dlrs after a 1985 decrease of 19 billion dlrs as foreign monetary authorities intervened heavily in exchange markets late in the year as the dollar fell commerce said
great western gwf sells insurance unit
international business machines corp hit by a two year earnings slump should begin a come back by the end of 1987 and post strong growth in 1988 analyst rick martin of sanford c
macneal schwendler corp mns 4th qtr jan 31 net
the feedgrains provision would cost about five mln dlrs
tamura said there was deep regret over the us measures which will impose 100 pct tariffs on about 300 mln dlrs worth of japanese imports of some small computers colour television sets and power tools
uccels liemandt declined to say what he will do after the merger but he did not rule out working together with wang
astra owns five companies with interests in engineering paint manufacture and the distribution of farm machinery and equipment motor vehicles and earthmoving equipment
ownership of the combined company with 188 pct for the current shareholders of canadian bashaw and 812 pct to the current shareholders of erskine the companies said
shr loss 182 dlrs vs loss 16 cts net loss 2285000 vs loss 264000 revs 230 mln vs 146 mln year shr loss 159 dlrs vs profit seven cts net loss 2467000 vs profit 112000 revs 773 mln vs 758 mln note includes loss of 11 mln dlrs or 70 cts shr from asset writedowns and cost reductions
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
he said the closure will mean a drop in production of 3000 tonnes in 1987 from last years output of 17800 tonnes
keihin electric express railway co ltd is issuing a 150 mln dlr eurobond with equity warrants due april 22 1992 with an indicated coupon of 2 3 8 pct and priced at par lead manager yamaichi international europe ltd said
but one informed congressional source said singling out corn for an arp increase would would be seen as unfair to one commodity
turnover 5432 mln stg vs 4815 mln operating profit 482 mln stg vs 382 mln net interest 89 mln vs 86 mln tax 143 mln vs 112 mln profit after tax 251 mln vs 184 mln minority interest 300000 vs 615000 net tangible assets per ordinary shr 1113p vs 1016p
this has increasingly been the case recently because non banks have received considerable sums from current account surpluses and capital imports
us beef sales to japan currently around 480 mln dlrs annually could increase to over two billion dlrs and as high as six billion dlrs by the year 2000 if japanese quotas were removed and the japanese consumer were made more aware of the attributes of us beef officials of the us meat export federation said at a press conference today
president reagan opposes protectionist legislation but agreed to support a trade bill when it became apparent that opposition democrats would pass such legislation
hudson bay mining and smelting co ltd said it cut prices for all grades of zinc sold in north america by one us ct a pound and by one canadian ct a pound effective immediately
shr 25 cts net 3081000 vs 2063000 nine months shr 86 cts net 105 mln vs 6966000 assets 143 billion vs 130 billion deposits 9125 mln vs 8758 mln note company converted to a stock savings bank on aug 13 1986
canadas federal government will provide a 350 mln dlr oil industry aid package that includes cash incentives designed to cover one third of a companys oil and gas exploration and development costs energy minister marcel masse announced
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
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
the surplus has boosted foreign exchange reserves to 50 billion dlrs which wang said made taiwan a target for us protectionism
grease monkey gmhc gets rejects merger offer
it should not spill over to the overall market like ltv corps ltv bankruptcy filing did last summer said one analyst
ec ministers announce plan for steel closures
earlier the department estimated january personal income was unchanged
new market emerges in warrants for gold
intercare inc said it terminated plans to acquire universal care a california health mainenance organization following first jersey securities decision to withdraw as underwriter for intercares proposed public debt and equity securities offering
scotts hospitality inc said it acquired all issued shares of capital food services ltd of ottawa
the new york mercantile exchange said it will introduce exchanges for physicals efps to its energy futures markets april one
perus short term foreign trade credit lines regarded as vital to ensure smooth foreign commercial transactions have more than doubled to 430 mln dollars under the 20 month government of president alan garcia
this tendency was expected to continue this year especially in the construction and public works sectors
other major buyers were the us at 86383 tonnes up from 81629 in 1985 china 69952 60296 and west germany 32172 25909 exports to france rose to 20479 tonnes from 12143 in 1985 austria 6048 4104 and italy 4014 tonnes 1340
s and p cited the companys announcement that it will purchase up to 54 pct of its common stock shares for 16 billion dlrs
traders said palm oil production in indonesia this year had been below expectations and current stocks were low
but this rise was due entirely to the lower value of imports caused by the decline of both the dollar and oil prices
equatorial said it would grant contel an option to buy about 3600000 common shares at 325 dlrs each
saudi success seen in curbing opec production
twa however has pursued its application with the department of transportation for a takeover of usair according to mark buckstein twa general counsel and vice president
federal reserve weekly report 2 feb 26 two weeks ended feb 25 total vault cash 25237 vs 27327 inc cash equal to req res 22834 vs 24680 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
its up to tehran to respond one way or the other a diplomat said
the new method is expected to lead to a reduction in the accumulated provision for depreciation and thereby increase the net book value of tangible asssets by about 300 mln stg as at january 1 1987
the guessing game over the timing of a cut has the clearing banks divided as well as the markets
citibank na is issuing up to 50000 currency warrants that give the holder a call right on us dollars from marks or yen citicorp investment bank ltd said as sole manager
ford motor co neared general motors corp last year in executive bonuses while it topped the larger automaker in profit sharing payments to workers
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
payment is due may 12 1987
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
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
according to a contract between pdvsa and the central bank the bcv must provide cash as the oil industry requries by repurchasing the bonds
multi step previously said it agreed to acquire the remaining 60 pct of tarxien it does not already own
commenting on the paris agreement mulford said i think exchange rates ought to be stabilized so germanys and japans efforts can be carried out
employment expanded for the first time since august 1984
market makers will be credit suisse first boston morgan stanley international and svenska handelsbanken plc
avx corp avx files for debenture offering
taft tfb bidders would sell entertainment unit
schlesinger said he had no comment on the remarks of his two central bank council colleagues
hb fuller co full 1st qtr feb 28 net
the warrant exercise period is from may 1 1987 until may 20 1991
i think the price is very fair and it is much to early to speculate about ligigation he said
cardenas said a new ico meeting could only take place when problems that hindered an agreement at the recent london talks have been resolved
this was 519 pct up from 4998 billion at the end of november and 4185 pct up from 3709 billion in december 1985
by the end of this year you may find our brand name on your daily products although this does not mean we will run away from our mainstream business he said
veba share placement still expected this month
the search continued for a cargo of poisonous chemical substances loaded on the herald of free enterprise ferry which capsized in zeebrugge harbour friday
the cash tender offer was for up to 328 mln shares at 4675 dlrs net per share
total orders in the first quarter were up substantially with a sharp increase in aerospace and defense orders in addition to those of the new sperry aerospace group it said
latest qtr and year includes tax loss carryforwards of 771000 dlrs and 1042000 dlrs respectively and a loss of 613000 dlrs for discontinued operation
but if the dollar falls steeply which did not happen yesterday japanese investors will definitely try to withdraw significant funds from us shares said akira kawakami deputy manager of nomura investment trust and management co ltds international investment department
australia said to rely too much on oil taxes
no action should be ruled out import fees or quotas floor prices tax incentives or other alternatives while a national dialogue on the issue continues dibona said at a paper institute conference in new york today
the deficit in transfer payments widened to 370 billion marks from 269 billion largely due to a sharp jump to 23 billion marks from 200 mln in payments to the european community budget
the cmb needs between 10 and 15 billion shillings the equivalent of seven to 10 mln dlrs to pay farmers and processors for coffee already delivered but its present export revenue is insufficient to cover such expenditure they said
the sanctions were approved by the cabinet soon after colonel sitivene rabuka staged his second coup on september 25
five groups including an alliance between west germanys siemens ag siegf and frances schneider sa schnpa subsidiary jeumont schneider have applied to buy what is frances second largest telephone switching firm
both films green monkey and street justice are being produced by sandy howard
it said its sales for this year are projected to be over 10 mln dlrs
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
he said world consumption of wheat is increasing by about 20 mln tonnes this year primarily for feed use
nord resources corp nrd 4th qtr net
president hossain mohammad ershad has said non payers are crippling the industrial sector
he said narjes told him there appeared no fundamental barriers to ec states quickly ratifying the new international rubber agreement inra although translations of the accord into some ec languages are still being awaited
undertakings to accept what is effectively a management buyout have been accepted by holders of 889 pct of the shares
lebanese pound falls sharply against dollar
duff and phelps said it lowered its ratings assigned to minnesota power and light cos fixed income securities covering about 442 mln dlrs in debt
cominco said the sale was part of its previously announced policy of divesting non core businesses
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
pakistan confirms kenya tea import investigation
the balance comprised 38000 tonnes of grains and oilseeds and 98000 tonnes of derivatives
the highest number of working rigs was 4500 in december 1981
we cannot rely on imports even at current low world prices
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
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
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
reg july 17
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
ec links agricultural trade talks to other reform
it said the quarterly cash dividend of 105 cts per share on the split shares a 105 pct increase from the 19 cts per share before the split
jack welch doesnt want any more exposure to defense markets said one analyst who heard the rumors but doubted their accuracy
despite the hughes statement that it is interested in a merger and bakers response that a merger is still possibile analysts said no one could be certain where the situation was going
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
clearly it can go head to head in any market the new airline which arose from the 300 mln canadian dlr takeover of canadian pacific air lines ltd by the small but cash rich pacific western airlines corp was launched last week as canadian airlines international ltd
baker in an interview on cable news network was asked about such loans after standard and poors corp today downgraded the debt of six major money centre bank holding companies largely because of their heavy loan exposure to developing nations
with the restart of this 22700 metric tonne per year line reynolds said it will be operating at 100 pct of its consolidated primary aluminum capacity of 695000 tonnes per year
heyman emphasized that he considered the gaf offer to borg warner to be a friendly one
security pacific said in addition to originating consumer and commercial loans and leases the joint venture will market related financial products and services
give or take 10 pfennigs and all is fine not all analysts played down the significance of the remarks however
colombia will not attend managua coffee meeting
the japanese merchant fleet the largest after liberias has no intention of shifting to other countries to buy ships and this will encourage japanese yards the sources said
the first lease sale in 1983 involved 24 mln acres and generated 318 mln dlrs while the second lease sale in 1984 covered 37 mln acres and produced 516 mln dlrs
innovex inc said it has completed the purchase of substantially of the interest in lucht engineering inc that it did not already own
he said india had agreed to export to japan about 23 mln tonnes of iron ore in 1987 88 about the same as in the current year
kobeya baking has swiss franc private placement
fees are 1 1 4 pct for selling and 5 8 pct for management and underwriting combined with a 1 8 pct praecipuum
you must address this problem on the exchange rate side but it cannot be solved on the exchange rate side alone
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
diplomats said that was unlikely to be enough to satisfy reagan who is under pressure from the democrat controlled us congress to take greater action to cut the huge american trade deficit
amoco said well off trinidad flows 53 mln cubic feet natural gas daily
leading industrial nations will be reviewing the paris agreement to stabilize exchange rates foster increased worldwide growth and reduce trade imbalances but the us thinks the accord has been successful so far a senior us treasury official said
berliner bank suffers losses on stuttgart loans
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
total liabilities fell to 1221 billion rand in march after rising to 1362 billion in february
he said the mounting foreign exchange reserveshelped boost taiwans money supply by 4822 pct in the year to end february
libya reportedly bought white sugar
he acknowledged that the mine suffered a loss of production but declined to give estimates
ashland oil ash sees 2nd qtr oper loss
k mart km ends talks to sell stores
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
producers the european community ec and consumers are scheduled to consider the paper separately and then jointly tomorrow
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
doe added that in agreeing to the settlements the five did not admit any violations or non compliance with its regulations
leon greenblatt a chicago investor told the securities and exchange commission he has acquired 89450 shares of technology development corp or 53 pct of the total outstanding common stock
neale goldston morris of sydney broker bain and co ltd said the move out of delhi and investment in the sugar industry was a sensible one but added that it represented the loss of australian owned assets to a foreign company
however moodys noted that the combined company would benefit from cost reductions and consolidations made possible by the merger
the selling concession is 1 1 8 pct while management and underwriting combined pays 5 8 pct
argentina says could follow brazilian debt move
qtly div nine cts vs nine cts prior pay april 13 record march 30
the hafts lost but walked away with at least 100 mln dlrs in profits analysts estimate
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 210 dlrs vs 172 dlrs shr diluted 198 dlrs vs 172 dlrs net 2228000 vs 1730000
hercules hpc gets 1315 mln dlr contract
comalco ltd said its return to profit reflected reduced costs improved primary aluminium prices and its withdrawal from a japanese smelter venture
it said sorghum output in calendar 1986 was 534 mln tonnes down five pct from the 1985 level and prices on the free market rose in january to 042 yuan per kg up 14 pct on january 1986
the committee believed the shared involvement in stockpile management was counter productive he said
in addition although the market shrugged off relatively healthy gains in february us leading economic indicators and factory orders tuesday economic data could play a larger role in coming sessions the analysts said
the latest guidelines call for a ceiling of four mln cgrt in the year to march 31
last week foreign ministers of the 12 ec nations agreed to impose tariffs on a range of unspecified japanese electrical goods unless tokyo opened its markets more to ec exports
lisle ill based amphenol had 1986 sales of about 500 mln dlrs
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
the company further stated that it has a 17 mln dlr working capital deficit and it will therefore reduce operating expenses by decreasing operating hours workforce reductions and the sale of certain assets
the notes will be convertible into 75 pct convertible subordinated debentures which in turn will be convertible into 24 mln subordinate voting shares of the company
he has said since in speeches and at news conferences that any plan he would back to spur lagging domestic oil production would have to meet three criteria increase production not cause economic dislocation and be low cost to the taxpayer
the institute said inflation will see a rising trend in the course of 1987 but will average only 05 pct for the year as a whole because year on year rates will remain negative in the first part of 1987
a statement issued by the conference here said frequency of southern africa europe container service sailings is being increased from nine to seven days
the company said both the split and the dividend are payable april 15 to holders of record march 31
healthvest a maryland real estate investment trust said it began selling five mln shares of common stock at 21 dlrs a share
the south african governments maize production estimate of 78 mln tonnes for the current year is rather too conservative leading grain and produce merchants kahn and kahn pty ltd said
both deals have an indicated pricing of par
ten grain ships were loading and 18 were waiting to load at new orleans elevators trade sources said
healthcare services of america inc said it will write off about 16 mln dlrs in non recurring expenses in 1986
the smaller coins will be in denominations of a half ounce a quarter ounce and a tenth of an ounce
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
bankamerica corp said it completed the sale of its consumer trust services division to well fargo and co wfc a transaction that will result in a second quarter pre tax gain of more than 75 mln dlrs
landmark savings lsa completes office sale
its that time of year
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
dayton hudson said it told buyer of stock its not interested in being acquired
apparently the special relationship between reagan and nakasone hasnt worked effectively rei shiratori director of the institute for political studies in japan said
oneill added that the elimination of daily limits would add caution to trading
the controls will not be exercised in cases where the value of the banks stake in a concern is below the lesser of two predefined limits
pneumatic scale co pnu sets quarterly
the average yen dollar rate used for the figures was 14104 yen against 16903 a year earlier
two major steel companies said they were studying a price increase announced yesterday by usx corps uss steelmaking division
florida public fput splits stock ups div
for the year the audited amounts showed earnings of 2505978 or 125 dlrs per share
energy development edp completes may mep buy
the underwriting margin was raised to 10 basis points over the australian dlr bank bill rate
but it said a 415 mln dlr non cash writeoff of oil and gas properties taken in the first quarter resulted in a net loss of 439 mln dlrs or 721 dlrs per share
clausen said he doubts bankamerica would be in a position this year to make any acquisitions or experience any growth
national has about 153 mln shares outstanding
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
dairy farm bids 1466 mln stg for 22 pct kwik save
petroleos de venezuela sa said it will sign a contract march 17 to buy a half interest in a corpus christi texas refinery and related operations
irvings senior debt was reduced to a plus from aa minus with subordinated debt and preferred stock lowered to a from a plus
horizon financial and horizon funding both are units of victor savings and loan association
the ec now guarantees oilseed prices to farmers above world market levels and is considering implementing a controversial oils and fats tax
lennox told the annual meeting that future quarterly and full year earnings from ongoing operations should be significantly above 1986 results in his remarks lennox said management has no plans to recommend reinstatement of the companys common stock dividend in the foreseeable future
shr loss 14 cts vs profit 26 cts net loss 384000 vs profit 714000 revs 8367000 vs 9909000 year shr profit 19 cts vs profit 57 cts net profit 518000 vs profit 1547000 revs 287 mln vs 267 mln note includes income tax credits of 302000 dlrs and 13 mln dlrs in 1986 and 1985 respectively and 602000 dlrs in 1985 qtr
the bank is widely believed to be concerned about preventing a single market maker from cornering a stock to drive the price up
earlier the company reported net income of 207 mln dlrs
the shares will be registered in the name of malayan banking subsidiary mayban nominees sdn bhd with kio as the beneficial owner
izvestia says soviet winter crops need reseeding
rafsanjani who is also parliamentary leader predicted last friday a river of blood throughout the world in the event of any us strike against iran
sundor group buys dwg dwg units assets
qtly div 22 cts vs 20 cts prior payable march 27 record march 18
shr 33 cts vs 37 cts net 2051000 vs 18 mln assets 17 billion vs 15 billion deposits 14 billion vs 12 billion loans 11 billion vs 900 mln note year ago results restated to reflect merger with colson inc
unconverted notes will be repaid at par on february 28 1992
japan deeply concerned over the increasing threat to the ships navigating in the gulf understands the circumstances that have led the united states government to take these measures the foreign ministry said in a statement
eastgroup properties egp dividend jackson miss may 20 qtly div 65 cts vs 65 cts prior payable april 22 record april 10 notecompany paid 30 cts special dividend along with prior quarters dividend
prospect group has 143 pct of brinkmann briko 
taco villa tvla in debt talks may sell assets
gordon would have the same posts with safco and independence president ronald g
the company said the rights will expire on the later of february 17 next year or 60 days from the date they become exercisable
usair u wins court order against twa twa 
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
the european currencies are moving back up against the yen
saudi arabias state owned oil company petromin has made some concessions on term prices to japanese customers in the recent round of contract renewal talks and it is likely the japanese will accept the offer the sources said
the peoples construction bank of china is launching its first international borrowing by mandating four foreign banks for a 150 mln us dlr loan one of the lead managers banque indosuez said
polycast technology corp told the securities and exchange commission it sold off 119800 of its spartech corp common shares reducing its stake in spartech to 30000 shares or 12 pct of the total outstanding
but we must be very careful he said
gilgore said the company intends to have sales of three billion dlrs by the mid 1990s
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
moodys downgrades niagara mohawks 22 billion dlrs of debt
in the current round the countrys most powerful union the ig metall representing metalworkers and engineers is demanding a shortening of the working week to 35 hours from the present 38 1 2 and an accompanying five pct increase in wages
the trusts exposure to oil dependent regions is limited to 22 mln dlrs it said
the 12 nation community also charged the agreement gave us producers preferential access to the japanese market
peripheral systems psix agress to buy company
zimbabwe coffee output set to rise
dome petroleum ltd shares moved higher in the us and canada after transcanada pipelines ltd trp made a 43 billion canadian dlr bid for dome and dome said it is in talks with two other unidentified companies
it also has oil and gas interests in britains north sea ecuador and the us along with gold and base metal production through its associate paringa mining and exploration co plc santos said
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
yergin said he saw mounting support within congress for tax incentives rather than an oil tariff or import fee
because rockwell has not floated debt since 1984 the companys note issue is a museum piece he said
rain reached along the northern pacific coast across northwest utah maryland deleware virginia the carolinas georgia and northern alabama
on the one hand we are determined to require adequate capital support for potential future exposure on the other hand we are concerned that overly stringent capital requirements might unnecessarily affect the ability of us and uk banking organisations to price contracts competitively at the basis of the new proposals lies the concept of the so called credit equivalent amount the current value of a currency or interest rate contract and an estimate of its potential change in value due to currency or interest rate fluctuations until the contract matures
a strike by 9000 miners employed by the state corporation comibol has paralysed tin production in the major centers of huanuni corocoro siglo catavi and colquiri the conflicts secretary of the bolivian miners federation cristobal aranibar told 
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
norwegian unemployment falls in march
the japan development bank is issuing a 150 mln dlr eurobond due may 20 1994 paying eight pct and priced at 101 1 8 pct lead manager bank of tokyo international ltd said
operating income at industrial gases rose to 64 mln dlrs from 55 mln in the quarter and to 276 mln dlrs from 222 mln in the year
canadas real gross domestic product seasonally adjusted rose 11 pct in the fourth quarter of 1986 the same as the growth as in the previous quarter statistics canada said
ccc reallocates credit guarantees to el salvador
penteco east is a gas gathering and transmission system in southern kansas and northern oklahoma
the last confirmed iraqi attack on shipping was on march 8 when an iranian tanker was hit by a missile south of irans kharg island oil export terminal
maui land and pinapple co inc quarterly dividend
the foreign currency based loans which carry interest at 15 points above libor london interbank offered rate are considerable incentives given to increase imports koo said
the survey supported the general view in the gilt market that a shake out of the 27 market makers is likely
du pont co said it agreed to sell its cleveland chemical plant the oldest site currently operated by the company to two employees
sandoz ag sanzz year 1986
graphic media inc gmed year
indonesia the only asian member of opec has been badly hit by last years slump in oil prices which cut its revenues from crude exports in half
total still expects 15 billion franc 1986 loss
salomon sells 200 mln stg mortgages backed notes
iadb plans to match 1986 lending level
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
if congress approved 0 92 later in the year sign up either would have to be extended or reopened sources said
ecolab is a maker of commercial laundry detergent based in st
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
brazils unilateral moratorium on debt service payments underscored the potential for polarization between bankers and debtor countries s and p said
stewart warner corp 4th qtr shr loss 386 dlrs vs profit 37 cts
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
belgolux trade moves into surplus in 1986
she said the acquisition fit with air canadas strategy of seeking attractive investments that compliment its main airline business
iran had warned the united states earlier in the day against exacerbating the gulf crisis saying military action would endanger american interests
the february figure marked a year on year rise of 1845 pct
the group added the preferred stock also can be exchanged on any dividend payment date beginning june 15 1989 for the companys 5 1 2 pct convertible subordinated debentures due june 15 2017
but it said japan would continue its good performance on inflation with a zero figure expected in 1987 compared to a 06 pct rise in consumer prices last year
scat hovercraft inc scat year loss
cato corp files for initial offering
they ferris and trump talked last week
the us is willing to drop tariffs on japanese electronic imports if japan shows it will abide by an agreemement opening its markets to american goods us trade representative clayton yeutter said in a tv interview
a lot of small money has come back in but the big money is holding out until after april one us banker said
viceroy resource corp details gold assays
it took the bond market a long while to see that inflation was not returning to double digits and now that it has learned that lesson it may be a little slow to see that a four to five pct inflation is a real possibility ahead boltz said in a report
the effect of this outbreak on zimbabwes beef exports is being examined he added in a statement
carbide uk looks to acquisitions for growth
the production probably is about their quota level and largely because saudi arabia will not discount and canot sell its oil as a result margoshes said
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
the february rate seasonally adjusted now stands at 40000 down from 79000 in january the government agency said
us trade data seen as key to dollar trend
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
cade industries inc cadeo 3rd qtr net
the issue is non refundable for 10 years
single family starts had fallen 28 pct in august from july levels
detroit edison co said it filed a shelf registration for the proposed offering of one billion dlrs in general and refunding mortgage bonds
commenting on the first tranche gallatin noted that the original pricing talk called for a dividend in the four to 420 pct area
final dividend is payable june 16 to holders of record may 26 shell transport dividend and per share results based on new york shares which are equal to four ordinary shares
the utility said terms would be set at the time of sale
klm royal dutch airways klmas said it agreed to take full control of a partially owned dutch based parcel delivery service and will offer a minority stake in it to british and commonwealth shipping plc bcoml klm seeking to strengthen its market position in the fast growing door to door delivery market said it agreed with dutch retailer vendex international vennas to take over vendexs 50 pct in their jointly owned courier xp system vof ownership of xp will now be brought into the talks started by klm last week with british and commonwealth for a one third stake in the latters iml air services group ltd courier
general electric chairman john welch jr reiterated the companys outlook for 1987 in which it expects double digit ge earnings growth for the year
saft said it expects to add 400 jobs at the uk operations
french treasury details planned tap issue
the suit seeks compensatory and punitive damages in an amount to be determined
communications and cable inc ccab 1st qtr net
fernandez said central bank bills introduced in march 1984 to mop up excess liquidity had peaked at 431 billion pesos in april 1986
referring to information services staley said that certainly is one area we would quickly move into electronic mail voice mail and videotext are some of the services nynex could offer he added
noland co nold sets quarterly
almost 60000 tonnes of cereals sugar beef butter and other food have been authorised for distribution under an operation sanctioned by ec farm ministers on january 20 in which charities act as executive commission agents
asked by reporters if japan was expected to retaliate against us exports deputy under secretary of commerce bruce smart replied that would be the height of foolishness in addition he doubted japan could show enough progress in meeting the conditions of the agreement to avoid the actual imposition of the 300 mln dlrs in tariffs on april 17
there is a 10 basis point annual facility fee in years one to four rising to 12 1 2 points thereafter
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
diplomats said they expect three soviet tankers initially to reinforce other flags already supporting kuwaits 22 tanker fleet
they have always honoured the agreement and theres no reason now to think they wont this year he told 
us officials do not expect any japanese concessions during lyngs two week visit here
investment partnership ups facet fct stake
uk potato futures trading not to be suspended
argyll energy corp year loss
shr 45 cts vs 64 cts net 578 mln vs 794 mln nine mths shr 153 dlrs vs 187 dlrs net 1958 mln vs 2289 mln
the total cost of the acquisition is 340 mln dlrs the spokesman said
after these the cash balance should fluctuate around 30 mln nz dlrs
the shanghai official said that in one suburb 10 pct of the pre tax profits of factories are used to subsidise agriculture
the sources said it was possible that the spanish intervention board would be asked to buy the produce directly this year as it was rather late to make other arrangements
brazils several hundred creditor banks worldwide agreed last march to extend the credit lines until march 31 1987 as part of a 31 billion dlr financing package
yugoslav trade falls sharply statistics show
in order for bonds to break above the top of the range which is just below 102 in the june contract the crude oil rally needs to run its course and pull back a little bit singer said
genex corp gnex gets financing
keystone said its agreement with le clip sa of switzerland is effective through march 31 1990
union members unanimously rejected the latest company offer that was submitted to the union late last week ufcw union spokesman allen zack said
it reported 1986 net income of 1241 mln dlrs against 4124 mln dlrs a year earlier
william reynolds stated at the meeting that he found the concept of greenmail to be repugnant greenmail refers to a corporation buying out a shareholder at a premium not available to others
it will be repayable in semi annual instalments starting after six years
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
the money must come either through equity or debt and baker said that developing nations investment regimes do not support enough equity investment so youve got to have some debt there commenting on the us trade deficit baker said i think youre going to see a 15 to 20 billion dlr reduction this year
the index of coincident indicators which measures the current economy fell 01 pct in january after increases of 07 pct in december and 02 pct in november
it said the sellers included atlantic american corp aameo bankers fidelity life insurance co and georgia casualty insurance co
initial oil products deliveries are scheduled for monday powerine said
the senate voted to condemn the proposed european common market tax on vegetable and fish fats and oils and said it would result in retaliation
oper shr 55 cts vs 36 cts oper net 207 mln vs 136 mln sales 234 billion vs 158 billion avg shrs 381 mln vs 377 mln year oper shr 182 dlrs vs 148 dlrs oper net 690 mln vs 561 mln sales 783 billion vs 662 billion avg shrs 380 mln vs 378 mln notes results for 13 and 53 week periods ended feb 28 1987 and 12 and 52 week periods ended feb 22 1986 operating net excludes credits from tax loss carryforwards of none vs 53 mln dlrs or 14 cts a share in quarter and 260 mln dlrs or 68 cts a share vs 322 mln dlrs or 85 cts a share in year company had 1200 stores inoperation at year end vs 1045 a year earlier
payments to farmers including price support loans and deficiency payments similar to the gramm rudman hollings budget cut applied in fiscal 1986
reserves of european currency units rose by 25 mln francs to 7327 billion francs due to interest adjustments while gold reserves rose by two mln francs to 21846 billion francs
asea capital corp bv is issuing a 10 billion yen bond due april 23 1992 carrying a coupon of 4 1 2 pct and priced at 102 3 8 mitsui finance international ltd said as lead manager
bp shares dropped on the announcement to 877p from 888p at last nights close
brazil halted payment of interest rates on 68 billion dlrs owed to 700 private commercial foreign banks as part of an strategy to alleviate the burden of its commitments
bank of japan buys dollars around 14630 yen dealers say
hutton said in the merger shareholders would get 46 mln dlrs aggregate amount of guaranteed debentures due 2002 of pc acquisition and warrants to buy 15 pct of the common stock of the pc courier subsidiary
petrolane partners lp lpg 3rd qtr loss
clayton a private investment firm said this was the third mangement buyout of a divestiture completed by them since december 1986
fields lacking adequate moisture last fall showed weak and uneven stands
capital repayments totalled 14 mln dlrs after februarys two mln dlrs repayment
for this reason we in europe must avoid everything used by protectionist forces in the us as pretexts he added
williams holdings bids 5422 mln stg for norcros
cocoa buffer stock accord closer delegates say
the leased system will be installed at bp exploration co ltds london headquarters in the fourth quarter of 1987 pending export license approval it said
he did not make any specific projections for the companys earnings this year but he said the firm will pay a dividend of not less than 325 cents per share after a proposed four for one stock split and a one for four bonus issue
details will be released later the committee said
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
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
minorco said it expects net earnings to be substantially stronger than the 440 mln dlrs reported for the first half
disclosed group risk provisions rose to 867 mln marks in 1986 from 765 mln in 1985
production of oil the countrys main export to western nations hit 100 mln tonnes in january and february up from 973 mln a year earlier and exceeded its target by 05 pct
it is primarily found in blacks
helmut kramer spokesman for chancellor franz vranitzky told that the forecast had been made during the meeting attended by vranitzky finance minister ferdinand lacina national bank president stefan koren and a wifo representative
goldman sachs in zurich organized and co led an issue for the swiss branch of banque indosuez on march 9 and last night morgan guaranty switzerland ag did another for morgan guaranty trust co of new york
tietmeyer remarked that the dollar had hardly moved against the mark since the meeting
us crude oil prices are at their highest level in more than a year ahead of next weeks opec meeting even though most industry analysts do not expect any policy changes from the session
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
the new formula is based on six year moving averages and would give brazil the worlds biggest coffee producer an unchanged quota for the remaining two years of the current coffee agreement van horick said
i think its clear that in cancelling its agreement with fujitsu schlumberger has signaled that it has another deal in the works said paul johnson a semiconductor analyst with lf rothschild
june t bonds were trading at 97 2 32 or 31 32 down on the day immediately before the figures
jannock ltd jnto 3rd qtr net
i think its much more doable he said
cargill 84695 tonnes number two srw wheat for may 5 30 at 11744 dlrs fob gulf
the mine has produced about 60000 ounces of gold a year since 1981 using another leaching process a bp spokesman said
full year 1986 includes a charge of 2246 mln dlrs taken in the second quarter for asset revaluation and restructuring costs
mining output rose 01 pct after a 16 pct increase in january but was still six pct lower than a year ago
but others said this was old business
the average work week fell to 348 hours in march from 350 hours in february the department said
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
she said the fed takes into account additional factors in determining monetary policy than the value of the dollar against other currencies
the main crop represents about 85 pct of thailands paddy output
raab karcher ag a trading subsidiary of veba ag vebgf said it increased operating profit in 1986 despite a sharp decline in turnover and added there were good chances this profit level could be held in 1987
the poorest countries have called for a monetary conference to work out a new system that not surprisingly helps them cope with their overpowering debt problems
australian unions launch new south wales strikes
la roche said he may buy more and possible all neco shares
trade issues straining ecs patience with japan
a drop in argentine corn crop prospects could also affect soviet corn buying an agriculture department source said
he said he did not yet know why the agency objected
he told the national economic development council that the recent paris meeting of major industrialised nations had agreed on the need for exchange rate stability
banking center tbcx 1st qtr net
the commodity credit corporation has accepted a bid for an export bonus to cover the sale of 760 head of dairy cattle to egypt the us agriculture department said
but the officials said the debate has been inconclusive
unions and employers dispute the average wage increases agreed so far this year
we anticipate that hiram walker profits will be well above those of the plateau years he said referring to the four years up to 1985
weiss predicted the pattern of quarterly lossses which characterized 1986 will be reversed and 1987 will see the company return to profitability
the sec investigation began just months before allegheny became the target of a series of shareholder lawsuits claiming that the company had violated the federal securities laws by failing to disclose material matters in recent annual proxy statements
european monetary sources said bonn was still unconvinced that washington meant business with its commitment to cut the budget deficit
sosnoff has small number of caesars caw shares
boeing ba merger waiting period expires
the non callable bond is available in denominations of 5000 dlrs and will be listed in luxembourg
the brazilians long ago learnt their lessons yulo said
shr 23 cts vs 14 cts net 439100 vs 259948 revs 9918413 vs 9683392 note share adjusted for five pct stock dividend
midland bank said it cutting its base rate to 105 pct from 11 pct
thirdly he said we do not have as long a track record of low inflation as did the us japan and west germany
annesley also dome petroleum may be able to sell its dome mines shares at a premium to market prices
speculative demand which influences the gold price on futures markets has also risen the bank said
tender for allegheny intl ag underway
qtly div 67 cts vs 67 cts prior qtr pay 30 april record 10 april
analysts also said gross profit margins were high as retailers were not overly promotional due to leaner inventories than a year ago
the merger will be effective june 1 coinciding with the retirement of utah international chairman and chief executive bud wilson bhp said in a statement
dawkins said initial meetings of the negotiating groups established in geneva after the gatt declaration last september in punta del este uruguay have made a reasonable start but it is vital that trade ministers maintain the pressure on these processes
halcyon investments a new york firm reported a 69 pct stake in research cottrell inc
qtly div 30 1 2 cts vs 28 1 2 cts prior pay july 15 record june 30
shr loss 72 cts vs loss 148 dlrs net loss 4466006 vs loss 9091688 revs 608181 vs 1280727 six mths shr loss 77 cts vs loss 151 dlrs net loss 4752455 vs loss 9265457 revs 1444149 vs 2791188
traders in london said indonesia has issued licences to local operators to import around 135000 tonnes of palm oil starting in april but the spokesman said this was incorrect
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
the proposed tax on oils and fats would hit us producers badly while at the same time virtually doubling the price of soyoil in the ec which would suffer far worse than other higher priced oils because of the nature of the proposed tax he added
japanese banks are expected to give nigerian debt negotiators a cool response when they arrive here tomorrow for talks banking sources said
licht said sugar yields were fairly high last season thanks to favourable weather and this increases the chances of a significant reduction in production in 1987 88
it has highlighted the growing dependency on the middle east and the need to increase us production mcivor also said that he expected natural gas to play a greater role in the future in meeting energy needs
this follows the countrys tender for 25000 tonnes of optional origin wheat for shipment april 20 30 they said
the changes will in time have an extremely positive effect on the marketplace
holiday hia recapitalization approved
if payments are not set in advance under decoupling market prices conceivably could rise thereby leading to diminished deficiency payments
allied lyons got 51 pct control of hiram walker gooderham last year for about 600 mln us dlrs while the reichmanns gulf canada corp acquired 49 pct in an out of court pact after a hostile battle for the wine and spirits division of hiram walker resources ltd we are getting along very well as partners i hope there wont be any change but there could be holden brown told reporters after a speech in toronto
fed funds hovered at a relatively high 6 1 4 pct this morning after averaging 614 pct on tuesday
deputy state department spokeswoman phyllis oakley said the trip is set for april 6 to 8
an american aircraft official said the company has an option to acquire the remaining 49 pct
but dealers said they fear regulators may insist on an airtight netting agreement that is impossible to design
operating profit 259 mln stg vs 265 mln making 112 billion stg vs 949 mln
he said new zealand is moving rapidly and of our own initiative in the direction of liberalisation and i warn you we shall be looking for partners
the agreement was reached through negotiations with the british government and the european community ec after they threatened to impose duties on imports
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
according to market sources the ranges agreed were 160 to 190 marks to the dollar and 140 to 155 yen to the dollar
general mining union corp ltd chairman derek keys cautioned that profits may not rise this year if the rand stays at its current level of 48 us cents
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
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
afg industries afg debt affirmed by s p
venezuela reveals debt payment schedule details
an unexpectedly heavy 44 billion stg surge in uk september sterling bank lending is unlikely to nudge the bank of england towards tightening monetary policy as long as sterling remains in its present robust state economists said
unidentified jets raid iranian oil platforms in southern gulf shipping sources
there are an estimated nine mln lorries and buses in use in the ec according to commission figures
northern indiana public service company said it again omitted its quarterly common stock dividend which would have been payable in may
zuercher ziegeleien sets 60 mln sfr warrant bond
dealers expect todays issue to have a coupon of 6 1 8 pct
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
also the company said it and its units granted the group a security interest in their assets
he said it was up to countries that declined to cooperate such as britain to come up with their own proposals if they saw fit
new singapore financial market set to open
it said the wells initial production is expected to be restricted to an allowable level of about 300 barrels a day although it is capable of sustaining much higher rates
it gave no details
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
no mention was made however of the us commitment to cut the budget deficit even though it is implied in the reafffirmation of paris
if midway is acquired each right will entitle its hodler to purchase a number of the acquiring companys common shares having a market value at that time of twice the rights exercise price
the notes in denominations of 100000 us or australian or new zealand dlrs will have maturities of one to 12 months
shad who had been vice chairman of the e
quest biotechnology qbio unit in merger pact
hamburgische lb bond raised to 75 mln canadian dlrs
fees total 1 3 8 pct
final terms set on k o p warrant bond
japan line said then that the yens steep rise and the world shipping recession had hit the company hard
swiss net capital exports rise in 1986
domestic gasoline demand during the year was up 25 pct from the previous year according to a miti report
moodys said it would study the proposed acquisitions effects on gencorps cash flow and debt protection measures and on afgs financial condition
sun sun raises heating oil barge price
cyacqs sweetened offer totaling about 398 mln dlrs tops dixons offer of 9225 dlrs a share or about 388 mln dlrs
chase manhattan studying italian expansion
indonesias non oil exports decline in 1986
tanzania raises fuel pricestaxes in 1987 8 budget
davis water dwws releases pre split earnings
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
noranda said that when it resumes production it plans to operate the mine at about one third of the normal 72000 metric tons annual finished capacity
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
total trade reached 290 mln dlrs last year up 32 pct on 1985 according to chinese statistics
shr 30 cts vs 31 cts net 113 mln vs 117 mln revs 265 mln vs 263 mln nine mths shr 92 cts vs 95 cts net 343 mln vs 355 mln revs 788 mln vs 782 mln
the debt problem will not be solved unless developing countries are allowed to grow he argued
sight deposits are a major indicator of money market liquidity in switzerland
us japanese open talks on semiconductors
petrobras said the saudis had been advised that if they did not change their mind by monday petrobras would negotiate the purchase of oil with other producers
the 1987 budget deficit is some 29 billion guilders and early repayments on state loans are estimated at 13 billion
it had net income of 51 mln dlrs or 316 dlrs a share on 16 mln average shares outstanding last year
algeria sets tender for rape sunflowerseed oil
we see this as a test on how open the japanese market really is thatcher said
the put price after five years is 1268 to yield 8 3 4 pct
wheat and corn acreage comprised slightly over 40 pct of the total 10572402 acres accepted into the ten year program
but reliance recently became an independent company as the result of a leveraged buyout from its former owner exxon
credit lyonnais is issuing a 19 billion yen zero coupon eurobond due april 15 1992 priced at 8122 pct lead manager nomura international ltd said
poehl emphasised in his comments the very close talks between central banks before and after the g 6 meeting saying that financial markets had not fully realised the significance of the paris session and the us agreement to stem further falls in the value of the dollar the sources said
first time contributions from recent investment and acquisitions mainly in speciality chemicals and minerals also aided performance
bpi systems inc said it is holding discussions that could lead to the sale of all its outstanding shares for about 12 mln dlrs
senior engineering group plc said it reached agreement with cronus industries inc to acquire the whole share capital of south western engineering co for 125 mln dlrs cash
while frn specialists noted that paper on which coupons are shortly due to be refixed had managed to hold up today as had notes paying a relatively higher margin longer term frns were still subject to intense selling pressure
the 50 european currency unit gold coins which go on sale tomorrow in belgium will be priced at a premium of seven pct to the value of the gold they contain a finance ministry spokesman said
the company said the agreement is subject to approval by regulatory agencies both boards and walker shareholders
malaysias special drawing rights rose to 355 mln ringgit at end february from 352 mln at end january and 286 mln at end february 1986 the bank said
in the longer term horizon bally wants to concentrate on its gaming businesses said analyst dennis forst of seidler amdec securities inc
owing foreigners 109 billion dlrs brazil called an indefinite interest payments moratorium on 68 billion dlrs of commercial bank debt
but viermetz said morgan guarantys economic models showed that with no further change in exchange rates and continued sluggish growth in west germany and japan the us trade deficit would improve only temporarily
haynes said prospects for the companys petroleum products division are more promising than before but are still uncertain
the notes will be guaranteed by the commonwealth bank of australia and will be placed with investors in the asian dollar market
iwc ups soviet grain 1986 87 import estimate three mln tonnes to 29 mln official
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
ameritrust corp said it sold two mln shares of its common stock to an investment group named clevebaco ltd partnership
gallaher is not quoted on the london stock exchange
the rights will be exercisable only if a person or group acquires 20 pct or more of rogers shares or announces an offer for 30 pct or more
eastman kodaks outstanding issues are rated aaa aa
my gut feeling is somethings going to happen
crown resources crrs plans energy unit sale
analysts contacted on sunday said the statement does little to clarify last weeks market speculation
neither sarney nor finance minister dilson funaro accepted the proposals the sources said
the issue is guaranteed by fuji bank
smithson said japanese banks started buying smaller and problem plagued banks in 1984
geodome resources goedf to proceed with mine
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
all the goodies in this budget will be in place by the middle of may morgan grenfells bell said
prospects for the second quarter were relatively favourable with crude exports seen at 1320 mln bpd after an expected 1324 mln this month 1323 in february and 1395 mln in january
detailed terms were not disclosed
shr 41 cts vs 38 cts net 5630000 vs 5152000 revs 971 mln vs 854 mln
idec izumi issues 35 mln dlr equity warrant bond
robert halmi inc said it and hal roach studios inc signed a definitive agreement to merge in a stock swap value at 115 mln dlrs based on october 16 closing prices
he said hiram walker gooderhams profit improvement in the current year will come from a previously announced reorganization put into effect march 1 1987 and a close partnership with allied lyons existing allied vintners division
effective with shipments beginning june 28 the price on carbon hsla and alloy plates will increase by 1 1 4 cts per pound
we simply did not expect prices to rise so much a rabobank spokesman said since the pricing the bond price index has risen 09 to 1173 and the average state loan yield has fallen accordingly to 604 pct
first federal fort myers ffmy to make purchase
the issue is being lead managed by saitama bank europe sa
schlumberger ltds slbn decision to end an agreement in principle for fujitsu ltd itsut to buy 80 pct of its fairchild semiconductor corp and the political furore that surrounded the proposed sale will make japanese companies more cautious in their efforts to acquire us high technology firms but will not halt such attempts industry analysts said
standard oil srd committee tried to delay bid
these forms of lending they say give the banks a greater stake and more economically secure return on investment
credit lyonnais issues zero coupon yen bond
sosnoff
to attract some of those investors back to the fold underwriters like bear stearns decided to structure the foreign currency issues as floating rate debt sources said
it said it bought the shares for investment purposes and might increase its stake in the future
final dividend is payable may 28 to holders of record april 10 fourth quarter us dollar figures for group translated from sterling at average rate of exchange for the quarter which was 143 dlrs per pound in 1986 and 144 dlrs in 1985
he did not detail the commitments already made but an awb spokesman said they include sales to egypt china iran the soviet union and iraq
jardine matheson holdings ltd jardhkg year 1986
most traders were surprised by this move as they had expected the bank to follow suit unconditionally they said
bank of new england bkne sells capital notes
the sale is expected to be completed on or before november one and is subject to meeting certain conditions
the maize harvest is expected to total between 10 and 102 mln tonnes down from the 10 to 104 mln tonnes estimated a week ago
normally when an outbreak occurs there is an automatic suspension of beef exports one industry source said yesterday
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
shr loss 76 cts vs loss 21 cts net loss 319 mln vs loss 3288000 revs 3802 mln vs 3115 mln avg shrs 471 mln vs 412 mln year shr profit 56 cts vs profit 56 cts net profit 43925000 vs profit 46433000 rev 174 billion vs 160 billion avg shares 43602000 vs 41014000 note fourth quarter includes after tax loss from discontinued flexi van operations of 339 mln dlrs
if sales were made they would be executed by individual exporting companies which are members of the brazilian cocoa trade commission they said
kidston says higher net reflects gold sale rise
zimbabwe has confirmed an outbreak of the animal borne hoof and mouth disease which prompted botswana on thursday to stop imports of almost all zimbabwean meat products
the central banks weekly auction of foreign exchange to the private sector has been suspended since the end of january pending modifications to slow down the rate of devaluation and dampen fluctuations in the exchange rate
shamrock capital lp a limited partnership led by shamrock holdings inc said it completed its sale of central soya co inc to ferruzzi agricola finanziaria of italy
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
producers who are in favour of the buffer stock buying a variety of grades of cocoa and oppose non member cocoa being accepted reviewed their position ahead of the working group meeting this afternoon
knowing that its next crop is fairly large brazil will kind of want to test the resolve of other producers and consumers said one us official
nevi baltic with a 1986 turnover of 20 mln stg and total assets of 70 mln stg is controlled by norwegian finance company nevi as which will retain a 301 pct stake in the british unit skandia said in a statement
comtech inc cmtl 2nd qtr jan 31 net
the repurchase agreement yields compare with the 40625 pct one month commercial bill discount rate today and the 450 43 pct rate on one month certificates of deposit
closing of the transaction is anticipated in august the companies said
shr 10 cts vs 32 cts net 975000 vs 3145000 sales 1591 mln vs 1473 mln
australian minister for trade negotiations michael duffy said his country and third world commodity producers have formed an effective lobby group against farm export subsidies and market access restrictions
pauls place inc said chairman president and treasurer paul d
hutchison said the new issue will help increase flexibility when it is planning future expansion moves or making acquisitions without affecting the existing control structure of the group
the central bank said that between january and may ecuador sold 161 mln barrels of crude and 23 mln barrels of products compared with 32 mln and 27 mln respectively in the same period last year
caesars world is expected to seek a friendly suitor restructure operations or buy back sosnoffs holdings in an attempt to fight off the bid
the us treasury said it will sell 128 billion dlrs of three and six month bills at its regular auction next week
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
mcdowell enterprises inc said it has signed a definitive agreement to acquire an 80 pct interest in privately held interpharm inc for a 199 pct interest in mcdowell
duff and phelps said it lowered the ratings on duquesne light company fixed income securities affecting approximately 18 billion dlrs in debt
usda rejects sri lankas 80 us dlr wheat price
each two warrants allow the purchase of one common share at six dlrs through june one
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
gruen marketing gmc sees year net off
arrays inc said it completed its merger with haba systems inc
four us banks are expected to receive finance ministry approval in late april to operate securities subsidiaries in japan as long as they hold no more than 50 pct of the capital bankers said
the issue is available in denominations of 1000 and 5000 stg and will be listed in london
french treasury to repay 680 million francs of debt official
spear leeds and kellogg a new york brokerage partnership said it has acquired 136300 shares of allegheny international incs 1125 dlr convertible preferred stock or 71 pct of the total outstanding
any tax shortfall in itself is unlikely to push yields up
arco arc spin off seen at 500 mln dlrs
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
canterra energy to drill well off nova scotia
mexico to sign 77 billion dlr loan friday
the bond will be priced at 99515 to yield 7585 pct
qtr ended april 30 shr seven cts vs 10 cts net 158294 vs 234829 revs 8727242 vs 8152478
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
earnings from continuing retail operations in the quarter totalled 270 mln dlrs or 200 dlrs a share compared with 2494 mln dlrs or 191 dlrs a year ago
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
shr 33 cts vs 24 cts net 62 mln vs 49 mln loans not given deposits not given assets 38 billion vs not given note full name montreal city and district savings bank period ended january 31
marathon raises crude posted prices 50 cts a bbl effective today wti at 17 dlrs bbl
zambian exchange auction to resume at end of march
white engine bought by private investor
the dollar sank to 14475 yen in early tokyo trading
london trader e d and f man said it sold two cargoes at 233 dlrs a tonne cif for march april shipment with an option to sell an additional two cargoes at the same price
you do not have those concerns with canada and you should sincerely consider exempting our country from that bill he added
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
japan will ask companies to boost imports
treasury to publish us reserve assets monthly
a midlevel grade of unleaded gasoline with an octane level of 89 means an investment has to be made dunham said
but christians said the bank still regarded shares in these non bank companies as an investment rather than an active participation
under the agreement citizens shareholders could also trade their stock for a five year debenture issued by first commercial
people however cannot afford to wait for drilling to go up to start buying said sandi haber sweeney senior research analyst at sanford c
the philippines and its foreign creditor banks will sign formal documents in mid july to restructure part of its debt the central bank said
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
it said negotiations are expected to resume at the end of this month
they pointed out that 52 pct of madagascars coffee bushes were planted before 1930
keycorp key sells subordinated capital notes
earlier the bank estimated the shortage in the system today at some 105 billion stg
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
dnc international finance a s is issuing a 19 billion yen zero coupon eurobond due march 17 1992 and priced at 809 pct lead manager daiwa europe ltd said
in a summary of its weather and crop bulletin the agency said scattered showers continued throughout transvaal but dry pockets persisted in the northeast and south
texas instruments txn opinion reaffirmed
it said it may by more shares or sell some or all of its current stake
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
ceasars world chairman henry gluck in a statement urged shareholders not to take any action with respect to the offer prior to the boards recommendation
patents and licensing agreements control the use of sucralose through the year 2001 johnson and johnson said
brazilian finance minister dilson funaro said his countrys foreign debt crisis could only be solved by changes in the international financial system
that agreement reached last year after heated negotiations called on japan to stop selling cut price chips in world markets and to buy more american made semiconductors
canadian money supply m 1 rises 217 mln dlrs in week bank of canada said
one analyst noted that texas air corps tex continental airlines has a similar agreement with a bank issuing mastercard
us house panel approves aid for fslic
the increase of 664 mln lbs in total poultry offsets the 226 mln lbs decline in total red meats
he said the opec secretariat in vienna was finalizing these figures
the cess for rubber research and replanting remained unchanged at 385 and 992 cents per kg respectively
canada manufacturing utilization rate rises
an official from a leading conservation group who asked not to be identified said the panels move was an unfortunate first action because it could lead to the exemption of potentially millions of acres from the sod buster regulations established under the 1985 farm bill
the spokeswoman said the talks foundered on the question of how much the subsidy should be cut
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
we are waiting to see what consumers say a producer delegate said
it attributed the sales decline to a transition period for its new products and a delay in a major order
harley davidson inc hdi 4th qtr net
world bank chief concerned about brazil economy
mitsubishi heavy c
north american holding corp said it expects to have record fourth quarter earnings and for sales to exceed 10 mln dlrs
proceeds from the proposed transaction are more than the price projected in the companys recent initial public offering it said
imports of silver in jan dec 1986 totaled 144890000 ounces vs 152601000 ounces in jan dec 1985 while silver exports stood at 25114000 ounces and 24756000 ounces over the respective periods the bureau said
growers had harvested seven to nine pct of total planted area compared to five to seven pct last week
the sources said the measures were a further attempt to rein in money supply and were likely to force some institutions to scramble for funds before the 10 day accounting period for reserve requirements closes on monday
centronics said its board will be entitled to redeem the rights at two cts per right at any time before a 30 pct position has been acquired
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
deltaus corp dlta year
telxon txln sees slightly higher 4th qtr net
at amro bank a leading analyst said inflation could run to two pct next year
kmw systems corp kmwso 1st qtr sept 30
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
it will be listed in luxembourg
terms were not disclosed
earlier the existing executive director kobena erbynn from ghana was expected to re nominated but he is now likely to withdraw the delegates said
calls to davis were referred to lee solters who handles public relations for davis
standard and poors corp said it affirmed the ratings on 600 mln dlrs of debt of resorts international inc and resorts international financing inc
rexnord rex sees may merger with banner bnr 
altos computer systems altoo 1st qtr net
another source also requesting anonymity said colombia probably will not attend
before seasonal adjustment weekly earnings last month averaged 30759 dlrs up from 30513 dlrs in january and up from 30066 dlrs in february 1986
a ec committee of national experts in the so called oil supply group would discuss gulf oil supplies at their bi annual meeting on june 19 he said
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
reynolds metals co said it plans to restart the last idle potuction line at its troutdale ore primary aluminum plant
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
the board meeting looks set to end today a day earlier than scheduled delegates said
iraq said its warplanes hit two ships off the iranian coast in attacks last night and early today
dry areas of the australian sugar cane belt along the queensland coast have been receiving just enough rain to sustain the 1987 crop an australian sugar producers association spokesman said
willis faber not selling morgan grenfell stake
the remainder will be added to general funds
total arrears were 542 billion dollars
carolina power and light co cpl qtly div
market reaction was also due he said to the drop in the value of the dollar although trade issues did have some effect
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
malaysia indonesia and thailand account for 90 pct of world rubber exports and singapore is a major regional rubber trading centre
under the terms of portugals accession to the european community a grain import monopoly held by epac is being reduced by 20 pct annually until all imports are liberalised in 1990
non redeemable to maturity the notes will be issued only in registered form and in minimum denomiations of 100000 dlrs
the measures taken by the military are directed towards protecting our rights greece said yesterday it would defend its national rights in the aegean and urged turkey to accept reference of the dispute to the international court of justice in the hague
on balance gm cars are not selling as well as their competitors he said
talks with argentina over 215 billion dlrs of new loans and a multi year rescheduling also continued in new york with the citibank led advisory committee making a counter proposal to argentinas original offer
intercare care says acquisition terminated
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
in addition payments for the 1987 1989 period were lowered from 382 billion dlrs to 1350 billion dlrs
equitable life leasing corp is a subsidiary of equitable investment corp which is owned by the equitable life assurance co of us lomas said the acquistion price will consist of one mln in cash 15 mln shares of the companys common stock 71000 shares of a new series c preferred stock and 8944 mln dlrs principal amount of nine pct senior notes due 1994
us credit market outlook cautious trading
other gold exploration interests to be acquired by norgold are in western australia queensland new south wales and tasmania nbh said
klm said it hoped the move would attract more british feeder traffic to amsterdam airport
they recalled that under the 1986 program cotton farmers who used part of their crop as collateral for government loans were not responsible for the cost of storing that cotton in government warehouses
the company said its board considered information on the three and their bid and given the lack of any demonstrated ability on the part of these individuals to consummate an acquisition of this magnitude the board decided it was not necessary to take any action on their proposal at this time hospital corp said the benefits of the companys ongoing repositioning program are already being realized and we will continue to explore appropriate alternatives for enhancing shareholder value
in late september bank of new york offered 80 dlrs per share in cash for 474 pct of irving
new italian treasury offer undersubscribed
shell previously reported 1986 operating profit fell to 130 mln dlrs excluding a 24 mln dlr unusual gain from 146 mln dlrs in the prior year
analysts continue to view the bass family as a factor in the outcome of the bid for control of american medical
occidental petroleum corps occidental chemcial corp said it sold the process chemicals division it acquired as part of the september 1986 purchase of diamond shamrock chemicals to henkel kgaa of dusseldorf west germany
brazil warns creditors against retaliation
the amendments offered by rep
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
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
interactive technologies inc itxi 1st qtr net
he said that even though herringtons recommendation did not agree with existing policy well take a look at it the review will be undertaken by the presidents domestic policy council
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
the bills will be issued april 16 in minimum amounts of 10000 dlrs and mature april 14 1988
viacom international inc via sets quarterly
amex said the unit which trades stocks and options is small in comparison to other specialist units
in november m2 fell 19 pct from its level in october and was 39 pct above its level a year before
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
sales of new single family homes in the united states fell 68 pct in january from december to a seasonally adjusted annual rate of 716000 units the commerce department said
mortner said he expects profits in the first quarter to be better than he had originally expected in the beginning of the year
italian state bank istituto bancario san paolo di torino said its fully owned san paolo us holding co of wilmington in the us had signed a letter of intent to acquire valley national bank of california
in addition staff builders officers and directors own about 138 pct of its stock and have agreed to vote in favor of the merger
us maize area is expected lower but oat sowings could rise
harcourt brace jovanovich inc said it is disappointed that no negotiations with harper and row publishers inc are underway
swift to sell south dakota pork plant
the swiss franc firmed slightly to 12030 45 marks per 100 from 12025 40 with the yen soaring however to 12570 90 marks per 100 from 12515 35 yesterday
goodman fielder has 299 pct of ranks hovis
it said cumulative roastings for calendar 1987 now total 3845000 bags compared with 4070000 bags by this time last year
this takes the banks total help today to some 137 mln stg and compares with its latest forecast of a 150 mln stg shortage
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
public service enterprise peg two mths net
the us senate finance committee this week called on president reagan in a non binding resolution to retaliate against japan for violating the agreement
the new china news agency said rain and snow in henan had improved the prospects for wheat sown on 48 mln hectares and caused a drop in grain prices at rural fairs since late february
the semiconductor industry produces microprocessor chips which are used in high technology products ranging from radios to defence missile guidance systems
the size of the facility has also been reduced to three billion dlrs us from 35 billion dlrs us the maturity debate of the new agreement will be june 19 1992
the central bank bought bank bills comprising 27 mln stg in band one at 9 7 8 pct 21 mln stg in band two at 9 13 16 pct and 171 mln stg in band three at 9 3 4 pct
unusually low prices prevailing since early 1986 had stimulated demand for both food and non food purposes it said
yesterday borg warner said it agreed to be acquired for 423 billion dlrs by a company to be formed by merrill lynch capital partners
oper shr 21 cts vs 18 cts oper net 659000 vs 523000 revs 7866000 vs 5503000 avg shrs 3141217 vs 2925294 12 mths oper shr 70 cts vs 46 cts oper net 2075000 vs 1358000 revs 259 mln vs 193 mln avg shrs 2980247 vs 2925294 note excludes tax gain of 295000 dlrs for qtr and year
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
service corp international said its investment capital corp unit sold its entire 148 pct stake in capital southwest corp cswco common stock and no longer holds any capital southwest shares
foreign stock buying in march is expected to exceed the record high of 15 billion dlrs seen in december they 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
french official reserves fall sharply in january
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
it will be back on the table again and again the diplomat said
but lyng said usda already plans to change to market value accounting rather than acquisition value in order to avoid hitting a funding ceiling for eep of 15 billion dlrs
americas interests require that agreements be honored and that us industries not bear the burden for the persistent unwillingness or inability of the government of japan to deliver on its commitments the trade group said
that is 80 basis points more than the yield of comparable treasury paper
camco signs letter of intent for reed tool
chancellor of the exchequer nigel lawson said he was content with the current level of sterling and welcomed todays announcement of a further half point cut in british bank base lending rates to 10 pct
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
iran says has better weapons than silkworm
the offers by evergo and lai sun were for 53 dlrs a share though that is well below the current trading price
administration officials in and out of the us agriculture department have been extremely tight lipped about the prospects of a subsidy offer
speaking at an american chamber of commerce lunch in the hague engering noted the developing history of crises over steel citrus and pasta and warned of more to come
australian minister says agriculture gatt priority
industry sources say nigerias customers believe its bonny grades are overpriced compared with compatible brent crudes from the uk north sea
reichhold said the adoption is not a response to any specific takeover attempt
but were delighted that big rivers electric was denied the requested rate increase a spokesman for the utility a cooperative that generates and wholesales electricity to four distributors said the requested increase was 75 mln dlrs a year over 1985 rates
turkey is holding a buying tender for 100000 tonnes of white sugar on march 24 traders here said
the bank of england and the us federal reserve board have agreed new proposals for joint standards to measure the risk of an array of credit exposures that do not show up in bank balance sheets the bank of england said
the bundesbank is unlikely to change credit policies when its central bank council meets on thursday for its last session before the venice summit banking economists and money market dealers said
wedge group inc a houston investment firm said it raised its stake in tvx broadcast group inc to 682419 shares or 151 pct of the total outstanding common stock from 559219 shares or 124 pct
wti to 1700 dlrs today
us economy shows promising signs of growth
mcintyre said it retained an unspecified royalty interest in smoky river coal based on net operating cash flows from the companys coal properties
moodys investors service inc said it downgraded 17 billion dlrs of debt of bankers trust new york corp lead bank bankers trust co and other subsidiaries
talks on coffee export quotas at the international coffee organization ico special council session will resume at noon gmt today following a last minute decision taken early this morning to extend the meeting 24 hours ico officials said
the denominator approved by the governors has not been made public but banking sources said it could be similar to the european monetary system ems tayer said the ministers agreed in principle to allow gcc citizens to set up businesses and work in any member state
the finance ministry said then the amount was low but noted a number of unfavourable market conditions at the time
while an organization of petroleum exporting countries pact to curb production boosted oil prices early this year prices eventually fell
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
other terms of the bond launched on march 19 remain the same the bank said
the world bank intends to bring borrowing forward into the first half of 1987 because it expects global interest rates to rise by year end world bank vice president and treasurer eugene rotberg said
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
hernandez grisanti said the supply demand balance was precarious and prices were in danger of falling from their current average of about 18 dlrs per barrel if overproduction continued
the arranger is lloyds merchant bank ltd and dealers are lloyds samuel montagu and co ltd morgan grenfell and co ltd and sg warburg and co ltd
the payment date is may 15
datron corp said it agreed to merge with gghf inc a florida based company formed by the four top officers of the company
it said each right entitles shareholders to buy one one thousandth of a share of newly authorized preferred at a purchase price of 75 dlrs
standard and poors corp said it has upgraded approximately two billion dlrs of securities for the williams cos
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 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
the west texas sour and light louisiana sweet grades were also raised 50 cts to 1810 and 1935 dlrs a barrel respectively
audio video ava sweetens bid for cyclops cyl 
the issue is guaranteed by deutsche bank ag and is callable at 100 3 8 pct after seven years declining by 1 8 point per annum to par thereafter
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
these shares carry one one hundredth the voting power of the class b shares
the consortium would infuse up to 550 mln dlrs in turner broadcasting in return for a 35 pct equity interest
prices have been rising at about 15 pct a month
if that is the case gnp in the second quarter could ease back to a one to two pct growth rate kahan said
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
avery avy in offering
gross fees of 1 1 2 pct comprise 1 2 pct for management and underwriting combined and one pct for selling
german march unadjusted jobless falls
he cautioned that it was dangerous to read too much into the monthly figure adding that a rise of only 02 pct in april would take the year on year rise back above 42 pct
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
shearson lehman brothers holdings she 3rd qtr
cibc unit issues australian dlr zero coupon bond
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
overseas said 73 pct of its fleet handles liquid cargo
guardian trustco sees modest 1987 outlook
market participation by cuba suggests that its crop could be close to last years 73 mln tonnes
secretary of state for trade miguel angel fernandez ordonez said this week that the annualised inflation rate for february not yet officially announced fell to 55 pct from six pct in january compared with inflation of 83 pct during 1986 and a government target of five pct for this year
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
a rough draft of the accord is expected to be presented to the premiers at the june meeting while the finished document is hoped to be presented to congress in october
condere corp formed by former managers of armtek corp said it completed the acquisition of a tire plant and other assets of armtek for undisclosed terms
the mine started in 1896 by a us company is one of six or seven virtually untapped mines in the unzan area 94 miles north of pyongyang li said
oper shr loss 20 cts vs loss 63 cts oper net loss 439000 vs loss 1347000 sales 6303000 vs 5062000 six mths oper shr loss 43 cts vs loss 102 dlrs oper net loss 934000 vs loss 2333000 sales 121 mln vs 9878000 note oper data does not include 1986 losses from discontinued operations of 60000 dlrs or three cts per shr in qtr and 151000 dlrs or seven cts per shr in six mths
webcor electronics inc wer 3rd qtr dec 31
the british bulk carrier envoy which ran aground in the orinoco river on october 16 was refloated without lightening on october 19 lloyds shipping intelligence service said
the bubble of frustration against what appears as japanese prevarication burst last week
swiss finance ministry calls two seasoned bonds
wilson said the acp would take such steps only as a very last resort but added that the acp is in touch with other countries which oppose the plan
the hong kong dollar fixed rate market was shut down this afternoon after a 200 mln hk dlr certificate of deposit issue for the chinese state owned bank of communications ltd hong kong branch suddenly surfaced bankers said
there is a 1 1 4 pct selling concession and a 5 8 pct combined management and underwriting fee
but it was unclear how such cooperation was being arranged and how frequent consultations between central banks were
spreads over comparable treasury securities run from 90 to 115 basis points
effective net annualised compound yield on the bills is 987 pct down from 998 pct on the previous issue of three month paper
the student loan marketing association said its rates on short term discount notes were as follows maturity new rate old rate maturity 5 14 days 565 pct 560 pct 5 14 days 15 78 days 500 pct 500 pct 15 81 days 79 85 days 583 pct 575 pct 82 88 days 89 360 days 500 pct 500 pct 89 174 days 585 pct 175 180 days 500 pct 181 360 days
central bank governor chang chi cheng said last week washingtons pressure plus rising foreign exchange reserves meant a further strengthening in the currency is inevitable
cereals mcas to be unchanged next week
goody products inc good year end oper net
first financial ffmc in stock split
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
south koreas cumulative commitments amount to 25 mln tonnes up 15 mln compared to last year it said
union carbide uk sells notes yielding 990 pct
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
suggesting that the total cost of completing the merger would be 190 mln dlrs cross said he would use 20 mln dlrs of his own money for the deal and up to 170 mln dlrs which would be borrowed from the first national bank of boston under a revolving credit facility the bank has agreed to provide
coffee traders expect selloff after ico talks fail
in the second week they ran a deficit on thursday friday and monday but held excess reserves on the final two days
it said after nine months following closing montagu may require royal to register the 200000 shares for sale
all remaining plants with a history or potential of shipping to the ec totaling nearly 400 would require more significant changes in plant constructions or procedures before further ec review
digimed corp 2nd qtr dec 31 loss
the us has been seeking japans technological support
hutchison whampoa ltd hwhhh announced a bonus issue of one new b share of 25 hk cents each for every two existing ordinary shares of 25 cents a share par value
prices generally lower at nairobi coffee auction
first federal savings ffkz year net
producer and consumer members of the ico council failed to agree export quota shares in early march
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 letter of credit has a five year term with an evergreen feature allowing for extension at the support banks option
there are currently 215 mln american express shares outstanding
proposed offerings recently filed with the sec
chit said a new joint venture company will have a registered capital of four mln dlrs
i am deeply concerned that the ec has moved to take a harsher line toward japan despite this tangible improvement he said in a speech prepared for delivery at the opening of a new centre designed to improve understanding between the two sides
general cinema corp said lower attendence at its theatres against last years record christmas season lowered its first fiscal quarter operating earnings nine pct to 159 mln dlrs
japan does not plan to take immediate retaliatory action against implementation of us tariffs on some japanese electronic goods the minister of international trade and industry hajime tamura said in a statement
alcan aluminium ltd said it joined with carrozzeria bertone spa to exhibit alcans technology in aluminum structured vehicles at genevas international auto salon
owing some 382 billion dlrs of foreign debt latin nations have since the start of the decade paid out some 200 billion dlrs in interest and principal and received about 28 billion dlrs in new loans
advanced telecommunications atelo to buy co
dealers said it was significant the west german and british central banks were supporting the dollar against the yen
following a meeting yesterday with borg warner officials and investment bankers gaf said it is today delivering a letter to the borg warner board outling the terms of the proposal that would be made by tender offer pursuant to a mutually acceptable merger agreement to be approved by the borg warner board and conditioned on that boards recommendation of the tender offer and merger
butler co butc 2nd qtr feb 28 net
im really excited about it frazier said
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
bankamerica will provide 592 mln dlrs
krupp added that some areas of the mechanical engineering business achieved notable growth rates and acquisitions had underpinned machinery and component activities
anova said it created duvel to act as a blind pool and will seek an operating private company to merger with duvel
loblaw cos ltd said it agreed to sell 75 mln dlrs of 10 pct debentures series 8 due april 15 2007 to investment dealers burns fry ltd and mcleod young weir ltd
paradyne also said it named jerry kendall as president and chief executive officer succeeding robert wiggins who resigned as chairman and chief executive officer as part of the settlement of the indictment
they arrange primarily with japanese banks to exchange yen funds into other currencies mainly dollars bond managers said
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
us consumer instalment credit rose a seasonally adjusted 177 billion dlrs in february after a revised rise of 789 mln dlrs in january the federal reserve board said
i wouldnt be surprised if other multilateral institutions are faced with similar constraints he said
the governments gnp growth target for 1987 is five pct the same level it had set for 1986
yesterday huttons pc acquisition corp subsidiary extended its tender offer which was to have expired at midnight for two more days
the trustee said the company outbid wtd industries inc for the lumber mill harvested logs and contracts to harvest timber in the national forest
dealers said the intervention underlined the determination of central banks to keep currencies within recent ranges following last months agreement in paris by six leading countries to foster currency stability
one must be held before june 1988
the company said the plant which is located in niagara falls new york will begin operations in december
numac oil and gas ltd said it arranged a 597 mln dlr financing with two investment dealers
it also forecast that australias four major markets the us japan canada and taiwan will continue to dominate the chilled and frozen beef export markets
shr 30 cts vs 10 cts net 560000 vs 177000 revs 9700000 vs 7700000 avg shrs 1877203 vs 1839752 nine mths shr 80 cts vs 28 cts net 1480000 vs 524000 revs 283 mln vs 228 mln avg shrs 1854478 vs 1899769
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
it said cash will be paid in lieu of fractional shares
ti caro was taken private in 1984 in a management led leveraged buy out
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
foreign exchange dealers said some buyers had gone long on the dollar expecting a lower figure and sold it down about 30 points to 06820 us dlrs before the release
shr loss 33 cts vs nil net loss 603430 vs profit 4295 revs 748628 vs 5730 note per share results give retroactive effect to one for 50 reverse stock split in march 1987 1986 loss includes recurring expenses of 317062 dlrs related to acquisitions and initial advertising campaigns
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
shr loss nil vs profit 19 cts net loss 3175 vs profit 284945 revs 136 mln vs 106 mln year shr profit 13 cts vs profit 56 cts net profit 195202 vs profit 857006 revs 475 mln vs 429 mln note current year net includes charge against discontinued operations of 1060848 dlrs
the us index of leading indicators rose a seasonally adjusted 07 pct in february after a revised 05 pct january fall the commerce department said
more a spokesman for the federal statistics office later said the anti cartel authorities would probably rule on the takeover in the new few weeks
she said short term bank lending rates fell to an annualised 1388 pct at the end of december from 1458 pct a month earlier and 1982 pct at the end of december 1985
they told the housing program loan request is for 100 mln to 150 mln dlrs
it holds 388600 shares in ogelbay representing 1168 pct of the delaware based company
it said it would place major emphasis on managing service america to improve operations and increase earnings at the unit
transcanada said the offer is to dome management not to shareholders
asked about the options offered this week by us energy secretary herrington to increase us production mcivor said he could not comment on subjects like the oil depletion allowance now but the thrust of his herrington report is valid
the issues are for settlement april 27 the office said
the company said it lowered its revenue plan for the balance of 1987 and also expects to record a loss for the entire 1987 year
year ago shr data restated to reflect two pct stock dividend of december 1986
we will have further comment when it is appropriate
iraqs export capacity will be further boosted when a 500000 bpd oil pipeline via turkey comes on stream in about september
but finance minister domingo cordovez said two days ago the government is seeking to postpone all payments due to private foreign banks in 1987 until next year through negotiations with creditors
citicorp expects net income in its individual banking sector to top one billion dlrs by 1993 compared with 462 mln dlrs in 1986 said richard braddock head of citicorps individual banking division
the other dealers will be samuel montagu and co ltd and morgan guaranty ltd
without the tax benefit third quarter net income would have been 1276 mln dlrs up 16 pct or 174 mln dlrs from the third quarter of 1986
the london metal exchange lme has listed the aluminium brand cba produced by cia brasileira de aluminio at its mairinque sao paulo plant
some also forecast that the high of the week at 101 19 32 may signal a bearish double top formation portending steep losses
pet
if texaco doesnt get crude supplies it cant run its refineries so its other assets would not be worth anything he added
idea said the purchase will add about 32 cts per share to its fiscal 1988 earnings
shr net basis 248p vs 245p shr nil basis 227p vs 209p div 5p making 76p vs 65p pretax profit 5778 mln stg vs 5061 mln net after tax 3747 mln vs 3649 mln outside shareholders interests 175 mln vs 132 mln extraordinary debit 370000 vs 193 mln turnover 53359 mln vs 55581 mln profit breakdown by activity electrical equipment 2859 mln stg vs 2760 mln engineering 1075 mln vs 1113 mln industrial services 1878 mln vs 16 mln corporate finance 340000 vs 412 mln making total pre tax profit 5778 mln vs 5061 mln
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
japans nippon oil is a partner of texaco incs tx texaco usa in a 100 mln dlrs us drilling program and has joined with duponts dd conoco inc in a similar 135 dlrs mln deal
one vertical drill hole intersected gold continuously from 1100 feet to 1730 feet averaging 030 ounces per ton the announcement 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 
kinnear said pennzoils disclosure in court papers on friday that it wanted to extend the bond issue hearing until the end of april pushed texaco further towards chapter 11
current law requires usda to donate at least 750000 tonnes of surplus grains and dairy products under the section 416 food donation program
with wti at 20 21 or 22 dlrs us refiners will import mideast and far east crudes and this will strengthen those grades further said a japanese oil trader
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
one of four major japanese securities house bought 395 pct of the total 10211 billion yen in bids accepted ministry sources said
the itcs failure has restricted negotiators ability to compromise as governments do not want to be involved in pacts with built in flaws or unlimited liability but want clear lines drawn between aid and trade
if you do get water into that area then you can get very severe effects on the stability of the ship he added
raytech ray buys west german company
european american bancorp 3rd qtr net
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
quest biotechnology inc said its quest blood substitute inc subsidiary executed an agreement with alza corp aza which will make alza a preferred shareholder of its subsidiary
the foundation said it sold 36000 wurlitzer common shares between march 13 and 30 at prices ranging from 325 to 2375 dlrs a share
depending on its evaluation of the company including actions by crazy eddies board and any possible third party bids for the company entertainment marketing and its president said they may hold their present stake in the company sell some of their shares or purchase more shares on the open market through private purchases or in connection with a merger or tender offer
roderick said changes were necessary to curb abuses but that he did not want laws that would hurt the financial markets or discourage fair price to all takeovers
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
the vessel ss liberte will be renamed the canadian star and will be used for cruises to montreal from new york beginning in june
of the increase 297 mln stg was accounted for by personal lending which the banking information service said was taken up entirely by lending for home purchases
current rates are 1 3 4 pct for savings accounts 24 hours seven day call one week and two weeks
he noted however that oil companies were still spending six mln stg a day to maintain north sea production
shr 34 cts vs 29 cts net 3188000 vs 2731000 revs 372 mln vs 254 mln avg shrs 9474000 vs 9425000 year shr 92 cts vs 80 cts net 8671000 vs 7492000 revs 1194 mln vs 736 mln avg shrs 9450000 vs 9410000
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
first federal savings bank of montana ffsm div
first bank fbs agrees to sell another bank
taiwan to reopen tender for us soybeans
bank negara said it subsequently took up the unsubscribed shares totalling 1355 mln of uabs new paid up capital of 22874 mln ringgit
warburg pincus starts symbion symb bid
but vernes said he hoped that in the next few weeks a final agreement would be reached with the commission which would allow operators to withdraw the sugar from intervention
nathan believes the fed has let market pressures lift short term rates in recent days to help the ailing dollar
for the past month fiji sugar farmers have delayed harvesting the 1987 crop pending a response from the governor general to demands following the may 14 coup
moodys downgrades standard chartered plc affects 16 billion dlrs of debt
there is no confirmation that brazils major processors of frozen concentrated orange juice fcoj will raise export prices of the product to 1375 dlrs per tonne from april 1 a spokesman for the brazilian association of citrus juice industries abrassuco said
general motors which saw its earnings drop to 294 billion dlrs from 1985s 399 billion said the 1986 profit was not sufficient to generate a payout under the profit sharing formula ford which earned 328 billion dlrs in 1986 up from 251 billion in 1985 said it recognizes employees efforts and fulfills its commitment to them in many ways including profit sharing
egypt is also a linchpin in the broad framework of us middle east policy
qtly div 33 cts vs 28 cts prior pay june 1 record may 1
powerine a privately held company said it expects the refinery to become fully operational by may with crude oil throughput at 35000 bpd
it said on hand in dealer inventory and for immediate delivery were 35000 of the two models
1 the finance ministers and central bank governors of seven major industrial countries met today
shr 51 cts vs 75 cts net 5524000 vs 8094000 revs 1424 mln vs 1372 mln note 1986 and 1985 year net includes loss 785000 dlrs or eight cts a share and 59000 dlrs or one ct a share respectively for discontinued operations
banque francaise de lagriculture will lead with union de garantie et de placement a 300 mln franc issue for its own account
but others disagreed
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
still at the heart of the talks is ongpins offer to pay part of the countrys interest bill in philippine investment notes pins instead of cash
citizens first bancorp inc cfb raises dividend
corrected mellon mel units notes
the company named goldman sachs and co as sole manager of the note and debenture offerings
bond prices jumped as much as 1 4 point in the initial reaction to the news
britain and west germany backed by the netherlands and denmark opposed a proposed tax on edible oils and fats which has already sparked strong protest from exporters to the ec led by the us and from ec consumer groups diplomats said
incoming orders gained four pct in the quarter after a five pct third quarter fall and were up one pct from the year earlier level
household intl hi projects earnings rise
feb 28 oper shr six cts vs two cts oper net 189683 vs 47499 revs 2874930 vs 2594574 note prior year net excludes 33000 dlr tax credit
datarex systems inc said it was named a distributor for minnesota mining and manufacturing cos data recording media and other computer suppliers and accessories in the united states
federal reserve board governor martha seger told reporters that the apparent strength in the 48 pct growth figure was the result of a temporary buildup in inventories that will not last and said the recovery was showing anemia
the government now imposes a 15 pct tax on physical trades exceeding 37500 yen for gold jewellery and coins and a 25 yen tax per 10000 yen on futures transactions gold dealers said
argentine debt talks difficult central bank
the bank of spain said it raised the reserve requirement for banks and savings banks to 19 pct of deposits from 18 pct to drain excess liquidity which threatened money supply and inflation targets
allegheny said the class action suit alleges the price to be paid in the transaction is grossly unfair
it said clopsing is expected around april 30 subject to approval by tri states board and shareholders
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
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
olin corp oln 3rd qtr net
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
mannesmann ag mmwgf expects a difficult year for the capital goods industry in 1987 chief executive werner dieter told a news conference
ministry of agriculture figures for march indicate 185 mln tonnes of wheat and 174 mln tonnes of barley remain in the free market
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
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
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
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
moodys said it also assigned aaa ratings to european coal and steel communitys 100 mln stg 9 3 8 pct eurobonds due 1992
the sharp fall in international coffee prices will not affect colombias external credit situation finance minister cesar gaviria told 
the january talks were slowed by a split inside the european community a key icco consumer group with france siding with producers
james hardie industries ltd hahas yr to march
however economists generally believe that continued fairly sluggish us economic growth and the financial strains on us banks resulting from their problem loans to developing countries rule out any fed policy firming
he said three port workers had died over the last month in accidents
the company will continue to post a louisiana price it said
british french ministers discuss public spending
the dollar was at 14110 yen at midday against friday closes of 14235 45 in new york and 14135 here
seal sinc acquires ademco ltd
the maturity period of government company bonds varies between seven and 10 years
fdics seidman says higher rates could harm banks
a merrill lynch canada spokesman declined to comment on the newspaper report when queried
london grains sees wheat recover from lows
gencorp said it could distribute the rights certificates to shareholders 10 to 30 days after the march 18 acquisition offer was made
opec within output ceiling subroto says
qtly div 24 cts vs 21 1 2 cts prior pay may 15 record april 24 note northwestern national life insurance co
the fourth quarter writedown was in addition to a charge of 880 mln dlrs on certain other assets taken mainly in the third quarter
it also bought 378 mln stg bank bills and 13 mln stg of treasury bills in band two at 9 13 16 pct
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
but wall street has given little credibility to icahns offer which lacked financing and was riddled with contingencies
us west inc usw 3rd qtr net
court upholds bank building bb self tender
india cut the export duty on coffee to 330 rupees per 100 kg from 600 rupees effective march 23 a coffee board official said
an apparent parallel vein structure at the 2600 ft level returned similar values the company said
shr loss seven cts vs loss 19 cts net loss 497452 vs loss 1306875 revs 106 mln vs 96 mln
japan will seek to strengthen the paris accord on currency stability at the meeting of the group of seven leading industrial nations tomorrow japanese officials said
average borrowings by these banks were 142 mln dlrs in the first week of the period
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
nimocks estimates american medical earnings for the second quarter ended february 28 could be 35 cts compared to a 95 ct loss last year
south korea increases duty on crude imports
brenda mines selling kerr addison shares
the holiday notes are trading at 10050 on a when issued basis the drexel spokesman said soon after s and ps announcement
the basic problem of the ems is that governments are not prepared to make the quantum leap to a situation where certain decisions are taken in common said one economist who has closely watched the systems development
the firm said the offer proration period and withdrawal rights expire april 22 unless extended
results for the third quarter should be about the same as the second he added
the hong kong stock exchange said it will not accept further proposals by listed firms to issue new shares with reduced par value but equal voting rights
in france belgium the netherlands and west germany it was mostly cool with frequent and often heavy rainfall which continued to slow down beet growth and often made field work impossible
qtly div 20 cts vs 20 cts previously pay june eight record may 22
the debentures to be offered in minimum denominations of 10000 dlrs are the joint obligation of santa barbara savings and the parent company
this compares with the banks revised shortage forecast of around 400 mln stg
this year well be reducing the stock of debt by 300 mln dlrs he said
bank officials said the rises were due to a strong yen which made imports of japanese parts raw and intermediary materials more expensive
contract terms for trade in coconut oil are to be changed from long tons to tonnes with effect from the aug sep contract onwards dutch vegetable oil traders said
nevertheless mason thinks the money center bank stocks could be poised for a short term rally
trafalgar house buys us builder for 20 mln dlrs
double eagle petroleum and mining co dblbo 
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
the interministerial committee on credit and savings headed by treasury minister giovanni goria said its decision reflected the need to safeguard the principle of separation between banks and non financial concerns it did not quantify what might constitute a dominant holding
that was up from 2507000 the previous week
flat prices for chinese beans are based on futures prices in chicago plus the fob premium
the sources said the buyers are believed to be a group of institutions
bids on the previous signups ranged up to 90 dlrs per acre with an average of 4552 dlrs
in other sectors euroyen also maintained its firm tone
sales revenue 481 billion vs 469 billion investment income 11693 mln vs 6061 mln shrs 49435 mln vs 49422 mln
ecuador would pay back the oil at a rate of 35000 bpd
craftmatic contour industries inc said it would report substantial profits for the first quarter of fiscal 1987 ending march 31
avaq international to seek commitment on deal
details of the 1988 budget in which spending will match revenue have yet to be worked out the officials said
the missions would promote us programs including pl480 section 416 donations export enhancement program the dairy export incentive program and export credit guarantee programs gsm 102 gsm 103 the panel agreed to drop a provision in the original bill offered by sen
if no interest payments are received for the rest of the year from ecuador which is recovering from a severe earthquake 1987 earnings will be cut by a further 10 mln dlrs
however the use of certificates preclude the need for 450 to 500 mln dlrs in storage and handling costs resulting in net savings for the government of 50 100 mln dlrs he said
gencorp inc says to sell general tire to continental gummi for 650 mln dlrs
the commerce department on monday will set final dumping duties on frozen orange juice from brazil department officials said
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
us house plan seeks to bar foreign takeovers
the crop reporting board said the estimates for the 1986 87 season are based on maturity and yields tests as of march 1
the dollar still has more room on the downside against the yen based on the frictions in trade and financial services
morgan said the certificates will be reoffered at various prices and have an average life of 96 years
i feel that unless we see an exchange rate adjustment we probably wont be able to see much of a change in the large surplus that taiwan in particular has with us he said
analysts also said the company has other interests in the alaskan north slope
in a filing with the securities and exchange commission industrial equity which is principally owned by brierley investments ltd a publicly held new zealand firm said it bought 263600 calmat common shares between feb 17 and march 9 for 131 mln dlrs
adc telecommunications inc adct 1st qtr net
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
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
duff and phelps upgrades baxter travenol bax 
the final certificate payments will be very close to 300 mln dlrs he said
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
john melcher d mont that would have required the us agriculture department to donate at least one mln tonnes of surplus commodities to developing countries
bil said in a statement it will review events on a daily basis
i think they will resist it said elliott schlang analyst at prescott ball and turben inc
itj and international digital communications planning inc idc in which both cable and wireless plc and pacific telesis group own 20 pct stakes are set to merge into a new entity to compete against kokusai denshin denwa co ltd
bulcan corp bul 3rd qtr net
uk fourth quarter trade deficit 26 billion stg
it takes around 15000 kilowatt hours kwh of electricity to produce one tonne of primary aluminium compared with around 550 kwh for one tonne of secondary metal shearson said
i cant see the board consenting what has changed between november and now he said
colonial commercial corp ccom 4th qtr net
due to concern about the farm trade row with the us top level government officials may press the ministry to cut the duties one said
the limit on subsidies is now 05 pct
hannes androsch general director of creditanstalt bankverein cabvvi today put 1987 gdp growth at between one and 15 pct
manufacturing employment fell 25000 compared with februarys 50000 gain while march construction employment dropped 45000 after being unchanged in february
qtly div 35 cts vs 35 cts in prior qtr payable april one record march 14
these purchasers would also be given access to sgls books and records and the opportunity to talk with key employees
nigel lawson british chancellor of the exchequer was among those who said the treasury secretarys statements helped spur a wave of stock sales by making already jittery investors think that a clash between the two major economic powers would damage the world economy
he told a heritage foundation forum id be very happy to see that in his formal remarks heller said he supported the idea of using commodity prices as an indicator for monetary policy
the eln demands the government charge the penalty
victor lopez executive secretary of the miners union told a news conference the strikers began to fast in the major tin mining districts of oruro and potosi and the action would spread tomorrow to la paz and other areas
analysts see this pressure as the main hope for lower interest rates as the government is expected to try to reverse the loss of export competitiveness caused by a strong pound
in an effort to trim its new debt goodyear closed down three plants mercer believes otherwise could have been saved sold its motor wheel and aerospace units and reduced its payroll by 10 pct he said
canbra earlier reported 1986 net earnings of 42 mln dlrs excluding a 13 mln dlr gain on the stafford sale compared to a year ago loss of 15 mln dlrs
the dramatic fall in oil prices last year was responsible for the slump
ford said it made 143949 trucks during the month compared to 116727 in the 1986 period
westpac drops new zealand indicator lending rate
the company said an aggressive program of investment spending to maintain or increase market shares its its two core businesses will accelerate sales growth this year but hold back increases in operating income in the near future
some others however judged that the fed has almost completed its reserve adding requirement for the statement period ending on wednesday and will not need to operate today
in a pre summit speech celebrating the 40th anniversary of the marshall plan reagan who spoke to an audience of foreign affairs experts also pledged to push for economic expansion by west germany and japan to bolster the world trading system
us capacity use rate 798 pct in february
under this proposal it sought to defer interest payments until june at the earliest foreign bankers and government officials here said
japan buys modest amount of dollars dealers say
the company reported a profit of 365883 dlrs 23 cts a share for the first quarter last year with one cent a share coming from non operating factors a spokesman said
1986 nine mths includes a 43 mln dlrs or 24 cts a share after tax gain for reversion of surplus pension funds
the credits would go to the installation of a fifth production line in venalum one of three state aluminum companies which produces primarily for the export market
consolidated said customers needs will be met from a wide range of low cost sources including the spot market independent producers and brokers and consolidateds producing affiliates cng development co of pittsburgh and cng producing co based in new orleans
trus joist said it expects to close the transaction before june 30
they also said the government should reduce tax preferences which would simplify the fiscal system urged a restriction of state spending and called for no increase in value added tax
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
indonesia the worlds second largest palm oil producer earlier denied it had granted palm oil import licences
scb official olle wessberg said the new figures were based on a more extensive survey of the unemployed which brought sweden into line with the practises recommended by the geneva based international labour organisation
it recommended that to stop friction due to its large trade surpluses japan must make a historical transformation in its traditional policies on economic management and the nations lifestyle
savings acuisition in california announced
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
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
bank of england forecasts surplus in money market
this meant dealers explained that investors who bought the bonds benefitted fully from price gains registered by the market in general although only 20 stg pct of the total purchase price was tied up initially
anyone who was caught unaware was not on top of the situation anyway said another trader people talked about this before and after s and ps announcement
this followed by a week another bear stearns led offering of the same amount of new zealand dollar notes for dow chemical co dow the initial rate was also to be initially set on april 15 and quarterly after that at 340 basis points below the same 90 day new zealand rate
the swiss canton of st gallen is launching a 50 to 60 mln swiss franc 4 1 4 pct maximum 12 year bond at 100 1 4 pct lead manager st gallen kantonalbank said
the reagan administration has given mixed signals on whether it believes a marketing loan for soybeans could be successfully challenged in gatt by the ec haggard 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
the great northern nekoosa corp said it will recommend to shareholders a two for one common stock split
the federal reserve is expected to intervene in the government securities market to add temporary reserves via customer repurchase agreements economists said
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
if approved by the canadian cabinet the officials said a monitoring system will be established in the next three or four months
moodys said a highly leveraged capital structure and thin debt protection continues since the april 1986 leveraged buyout
the south and south central areas of alberta lacked moisture with germination patchy at best
fhlbb changes short term discount note rates
he added the meeting could be postponed
the new york trade sources said if pasars shipments were delayed customers might have to turn to the london metal exchange for supply
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
the business which has 145 employees and supplies computers and software for hospital information systems will be integrated into 3ms hospital software business
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
shr profit primary 91 cts vs loss 86 cts shr profit diluted 90 cts vs loss 86 cts net profit 787000 vs loss 751000 sales 20 mln vs 125 mln year shr profit profit 263 dlrs vs profit five cts shr profit diluted 259 dlrs vs profit five cts net profit 2273000 vs profit 43000 sales 701 mln vs 471 mln note prior qtr and year figures include gains on disposal of discontinued operations of 76000 dlrs and 79000 dlrs respectively
the offer for the remaining shares is one chase share for every three entregrowth shares and one chase option for every four entregrowth options
the average work week rose 02 hours to 350 hours from 348 hours in january
chitambala declined to say what volume of copper and other minerals were being shipped through these two ports but he said there had not been any problem with the new arrangements
the conversion price was set at 32 5 8 dlrs representing a premium of 2038 pct over yesterdays atari share close of 27 dlrs
meanwhile the state iron company ferrominera saw its profits rise from 156 mln bolivars in 1985 to 204 mln bolivars last year
the current account includes trade in merchandise and services as well as us financial transactions with the rest of the world
france to sell stake in societe generale unit
us treasury secretary james baker met west german finance minister gerhard stoltenberg and bundesbank president karl otto poehl today in west germany and agreed to support the louvre pact the treasury department said
it said while rains in the northern mountain region are improving the supply of irrigation water the major benefits will not occur until the 1987 88 season
more than 25 mln british items were hallmarked during the quarter up 111 pct on the same year ago period
cummins engine co inc cum sets payout
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
hydrogen power inc initial public offering of three mln shares of class b common stock with a minimum of two mln shares at five dlrs each needed to be sold
federal co fff sets regular payout
the company said each debenture is convertible into shares of businessland common stock at a conversion price of 2050 dlrs
barwon is offering 100 pesos each for 24 mln class a san miguel shares and 14 mln class b stock
for west texas sour the new price is 1810 dlrs a barrel
rpt insituform of north america inc insua net
the payments must be completed by the end of 1987
they said maritime unions imposed bans on late wednesday for reasons that are obscure but seem to be linked with claims for a pay rise above the 10 dlrs a week awarded by the arbitration commission nationally to all workers recently
quarter orders 3502 mln dlrs vs 2967 mln dlrs
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
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
terms will be set this week with a conversion premium of 25 to 28 pct
pillsbury said it expects the offering to yield 73 82 mln dlrs resulting in an after tax gain of 20 23 mln dlrs
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
makumbi blamed the failure to set quotas which were suspended in feburary last year on indonesian demands that its quota be increased dramatically
us trade representative clayton yeutter said he was unsure whether some of the trade issues straining us japanese relations would be resolved before the two countries open trade talks in late april
such targets threatened to cause policy conflicts both within countries and between them for instance the us reliance on foreign capital to fund its deficits requires interest rates there be set at high levels but domestic considerations call for low ones
us consumer prices as measured by the consumer price index for all urban consumers rose a seasonally adjusted 04 pct in february after a 07 pct january gain
a total 55 mln stg of the grant is allocated for the supply of goods and services from britain
detroit edison dte registers bonds
the way we are now collecting data is far more accurate and we are asking many more questions to find out whether the jobless want work whether they are able to work and whether they have actually looked for work he told 
the bank said it was also halving its yearly visa card user fee to six dlrs but would retain its 15 ct fee for each transaction
he told a news conference held during a meeting here of ec agriculture ministers that britain west germany the netherlands denmark and portugal were all against the tax
fpl group fpl unit sells bonds at 8951 pct
they said seamen on the vessel were being forced to work under duress
this years deficit resulted from the landslide which cost the canal about 15 mln dlrs mcauliffe said
this compares with a target range of 120 to 140 cents a lb under the system operating before quotas were suspended in february last year following a sharp rise in international prices caused by drought damage to the brazilian crop
the company may be forced to increase debt to achieve its strategic acquisition goals the rating agency added
channon also called for increased us ec cooperation to avoid trade disputes
but they offered no glimpse of a grand design to banish the specter of a widespread repudiation of the regions 380 billion dlr debt
it said it is selling 500000 shares and shareholders the rest
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
spot market prices have firmed in the past two weeks but still remain below opec levels and major buyers have delayed liftings in the hope they would improve the sources said
this is a new market for us so to speak mangan said
halliburton is the best value said jeffrey freedman vice president at smith barney harris and upham inc adding the company controls the greatest amount of liquidity of common stock market value is diversifed in non oil field businesess and has the lowest multiple of stock price to operating cash flow including debt
japan has already lowered the duties sharply and we must consider domestic market conditions an official said
paralax said holders of some american video convertible debentures have elected to exchange them for paralax restricted common with a market value of about 380000 dlrs with that value to be determined in about 45 days
the joint venture will introduce various financial products to the customer base of mitsui and its group of companies the company said
on june 25 datacard filed suit in hennepin county district court in minnesota to block the sale of the 38 pct stake of its stock to national computer
the issue is available in denominations of 1000 and 10000 stg and will be listed in luxembourg
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 system the value of which was not disclosed will provide ford with automated vehicle tracking capabilities scicon said
china has options not easily available in western countries
us and japanese officials reviewed japans compliance with the agreement earlier this week
the criminal case settlement dismisses all charges including bribery and false statement except for conspiracy to which paradyne pleaded guilty
semi div three cts vs three cts prior pay june 12 record may 15
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
utilicorp ucu sees higher 1987 first quarter
the utility had previously said it might be forced to consider filing for bankruptcy because of limited rate increases granted by state regulators in connection with gulf states 43 billion dlr river bend nuclear plant in louisiana
a bank of japan official said the central bank approved of the survey as long it was not used too forcefully
hoechst group pre tax profit falls in 1986
as such its first quarter 1987 results will be below last years first quarter of 111 dlrs a share he said
in a statement commenting on the rise last month after a 05 pct january decline baldrige noted the leading index was rising at an 80 pct annual rate in the six months to the end of february
the decision announced last week would apply higher tariffs on a range of japanese products in retaliation for the alleged failure of tokyo to honor an agreement with the us on semiconductor trade
i dont think were at that point yet said one trade official adding that the ec has only begun deliberations on its farm price package
taiwan complains about size of reserves
credit lyonnais is joint lead
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
us citrus crop estimate usda
todays full council session started shortly before 1500 gmt after the scheduled 1330 start was delayed by an ec coordination meeting
the company said the committee of its unsecured creditgors and the committee of its equity security holders have approved the terms of the plan
the plant employs 2800 workers and can slaughter several thousand animals a day a company spokesman said
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
cardinal industries said revenues for the year were 307 mln dlrs up from 230 mln dlrs in 1985
miyazawa says us likely to intervene
chinese customs figures showed grain imports of 959 mln tonnes in the first eight months of 1987 compared with 609 mln in the same 1986 period
store sales activity varied throughout the country ranging from good in the east to weak in the depressed southwest
gatts ruling council is due to hear a complaint from the 12 nation ec on april 15 about the us japanese accord on semiconductors
erbamont nv said its major shareholder montedison spa which owns 85 pct of its common and farmitalia carlo erba its 75 pct owned subsidiary have acquired antibioticos sa and related subsidiaries
first marathon fmsato plans stock split
waxman industries inc said it filed with the securities and exchange commission a registration statement covering a 25 mln dlr issue of convertible subordinated debentures due 2007
the swiss finance ministry said it was calling two bond issues of a total 550 mln swiss francs as part of its effort to retire outstanding high interest debt
redemptions included 114 mln bushels of corn valued at 170 mln dlrs or an average per bushel price of 1492 dlrs since the current grain catalogs were issued december 1 by ccc
commercial paper outstanding nationally rose 35 mln dlrs to 33904 billion
french aerospatiale to make euro cp issue
certainteed corp is seeking a 150 mln dlr multiple facility which will incorporate a revolving credit and allow the borrower to issue short term advances euronotes and euro commercial paper on an uncommitted basis chemical bank international said as arranger
and investors buy on perceptions said one broker
whittaker corp wkr 1st qtr jan 31 net
that would not be wise he said
today it was off 1 4
southmark corp said it has completed the purchase of georgia international life insurance co from capital holding corp cph for cash and southmark securities worth over 85 mln dlrs
each warrant will give the right to subscribe for one stg nominal of deferred stock at 750p during a specified period in the five years starting in 1988
in 1984 japan decided to increase its beef import quota by 9000 tonnes a year until march 31 1988
the company also said it expects to report a 10 mln dlrs net gain in the quarter from excess pension funds used to pay down debt
rice season begins august 1
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
a main purpose of the study is to clarify export subsidies by major exporting nations like the united states and the european community but japan is a major importer he said
new harding group inc 1st qtr jan 31 net
tigrel acknowledged a need to cut inflation further after a drop of more than 12 points to 246 pct in the treasury wholesale index last year
microtel inc makes acquisition
strong japanese insurers can accumulate cash to ward off shocks from any foreign investment standard and poors said
calmat czm sues industrial equity
brazil announced suspension of interest payment of 68 billion dlrs owed to commercial foreign banks on february 20
wiehn said babcocks liquidity had clearly improved in the current business year with financial reserves in the first five months rising by 237 mln marks to 831 mln after increasing by 408 mln marks to 594 mln in 1985 86
phelps dodge corp is prepared to make another large non copper acquisition and a deal could be struck in the near future chairman g
purchases from non members will be limited to 15 pct of the total and buying or selling operations in any one day will be restricted to a maximum of 40 pct each for nearby intermediate and forward positions he said
speculation a clearing bank might break ranks and lead the way lower were confounded today
mize had bought about 9400000 shares or about 33 pct of dnas outstanding stock for 100000 dlrs cash
nonthapanthawat said if economic growth continues at its current pace and oil prices and major currencies remain stable the five billion 1987 reserves target can easily be reached
the talks have been going on for more than three weeks
all sales under the credit guarantee lines must be registered and exports completed by september 30 the department said
brazil industrial growth rate slowed in january
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
kelley oil kly buying oil properties
textron said morgan stanley and co will represent it in the sale
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
the new york stock exchange said general refractories co had no comment on the activity in its stock
i would hope retail stores and other financial institutions will look to their rates as well hockin said during the daily question period
1987 nine mths net includes a loss of 566 mln dlrs or 226 dlrs a share for discontinued operations
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 newly acquired kresge and jupiter stores will be renamed mccrory 5 and 10
a lot of questions have been raised by volckers departure
us farm credit banks defer april 20 offering
mario gabelli head of a new york investment firm which owns a large block of stock proposed one nominee for the board
it would ask for authorised capital of a nominal 200 mln marks for the issue of new shares and for 300 mln for the issue of warrant bonds both for the period until april 30 1992
justifiably not anticipating either a recession or seriously higher interest rates securities market participants have seen little to fear wojnilower said
the company also said in the proxy statement for its annual meeting that in 1986 the board approved the granting of 770 mln dlrs of cash awards to 1914 executives and 162 mln dlrs for a supplemental executive retirement plan under its incentive compensation program
dresdner to propose 1986 dividend 10 marks vs same one for 18 bonus share issue
home shopping hsn files 400 mln debt offering
trans world music corp twmc 4th qtr jan 31 net
the amendment also increases the cash consideration to be offered on lifestyles 13 pct convertible subordinated debentures from 55 pct of the principal amount to 575 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
imports decreased 700 mln dlrs in the final quarter in contrast to an increase of 209 billion dlrs in the third quarter
uk retail prices rise 04 pct in february
the soviet union has agreed to cut its coking coal export prices to japanese steel mills by about five dlrs a tonne in 1987 88 starting april 1 in exchange for an increase in export volume industry sources said
a loss of this size could cause a gap in the supply pipeline particularly in north america they noted
sterilisation will be dictated by market tactics not necessarily in the month in which intervention occurs lawson said
that change was made after s and ps initial rating release on february 20 it noted
the figure for male jobless rose by 2000 in the month to 436500 compared with 470700 a year earlier
cibas vision group will be headed by james macdonald president and chief operating officer
gotoh said the government could cope with the present critical economic condition even if it put off its plan to stop the issue of deficit covering bonds by fiscal 1990
us economic data key to debt futures outlook
malaysian palm kernel output falls in february
the annual report gives cotton traders their first glimpse of what us production might be in the 1987 88 season which begins august 1
japan which edged out britain as the leading importer of american wines in 1985 continued in second place
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
he said he was not sure the company had formally received notice of the offer but was aware of it through press accounts
lac said it will continue surface drilling in 1987 to determine if further underground exploration work is warranted
nakasone intervenes in microchip dispute
newly installed philippine coconut authority chairman jose romero has announced the appointment of lawyer leandro garcia as administrator replacing colonel felix duenas who is returning to military duty
bay state has 75 mln dlrs of long term debt and preferred outstanding
the officials said the tariffs would be ended as soon as japan started adhering to the agreement
argentinas cost of living index grew 65 pct in january down from last months 76 pct the national statistics institute said
single family starts rose last month from january levels by 56 pct to 1317 mln units on a seasonally adjusted basis while multi family unit starts fell 41 pct to 534000 units the department reported
fed expected to add temporary reserves
economists said it was likely that the government would ease foreign exchange controls but only gradually
the company named drexel burnham lambert inc as sole underwriter of the offering
but the harbour workers union told reporters the pay dispute is not settled and the unions national executive will meet here tomorrow to decide its next moves
march 7 end shr 17 cts vs 23 cts net 3998000 vs 5317000 sales 1894 mln vs 1596 mln nine mths shr 64 cts vs 68 cts net 149 ln vs 159 mln sales 5409 mln vs 4647 mln note twelve and 36 week periods
philippine government revenue is expected to rise 26 pct to 999 billion pesos this year from 791 billion in 1986 finance secretary jaime ongpin said
but he said there was still a danger that the correction of the dollars value could overshoot
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
but these will be made available to you ongpin confirmed on tuesday that a report from new york that manila will pay its commercial creditors 111 mln dlrs over 1987 1989 was accurate
qtly div 12 1 2 cts vs 12 1 2 cts prior pay april one record march 13
nwa inc nwa 4th qtr net
the offer between march 25 and april 13 is the second stage of a capital restructuring plan announced in december under which tenneco will become poclains majority shareholder
stewart warner corp stx 4th qtr loss
raised were the companys senior debentures raised to ba 3 from b 3 and convertible subordinated debentures to b 2 from b 3
total assets were nearly 11 mln dlrs at year end down from 12 mln dlrs the prior year
the company said the systems will be used in the c 17 military transport program
februarys retail sales were 44 pct above the year ago level of 11709 billion dlrs the department said
domestic offerings of foreign currency denominated date first surfaced in fall 1985
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
denominations are 1000 stg and listing will be london
federal funds which averaged 614 pct yesterday opened at 5 15 16 pct and remained there in early trading
the numbers include imports
spain had a 35 mln dlr current account surplus in february compared with a 68 mln dlr surplus in january and a 355 mln dlr surplus in february last year bank of spain figures show
saudi arabia wants oil price stability so the stockpile may be utilized to cool down the market if it rises too much an oil industry analyst said
federal reserve board chairman paul volcker said the performance of the dollar in exchange markets could be a factor in the us central banks decisions on monetary policy
buffton corp buff buys b and d instruments
turnover 9526 mln vs 9701 mln
thai natural rubber exports rise in 1986
william siedenburg of smith barney harris upham and co said phelps has lowered costs and streamlined mining operations
the carbon chloride bonds in sucralose are stable and are not broken during digestion or metabolism
global operations which made up 22 pct of royal trusts 154 mln dlr 1986 net profit will post 33 pct profit growth this year against an expected 15 pct jump in total company profit cornelissen told in an interview
the bank of japan is satisfied with the yen around its current range a senior central bank official told reporters
australian january annual broad money up 103 pct
general partners said the offer is conditioned on receipt of sufficient financing to buy all shares on a fully diluted basis and receipt of enough shares to give general partners at least 51 pct voting power again fully diluted
usda discussing pl 480 agreement with morocco
thousands of black mineworkers roared support for a union proposal to seize control of south africas gold uranium platinum and coal mines if the owners refuse to improve conditions for migrant black workers
speaking to an agribusiness education forum here late yesterday yeutter said the case was resolved at a meeting with argentine agriculture secretary ernesto figuerras during a trade ministers meeting in new zealand last week
the department also projected 1987 spring potato crop area planted at 79300 cwts vs 77400 cwts last year and area for harvest at 76700 acres vs 75900 acres harvested last year
cuts of up to 50 pct on those items were made last year and wang said further cuts would go much deeper
court enjoins zico investments tender for bancroft convertible fund
includes restructuring charges of 120 mln dlrs for qtr 527 mln dlrs for 12 mths
venezuelas total proven reserves as of december 31 1986 were 55521 billion barrels the fourth largest amount in the world hernandez said
argyll shares were up 12p to 440 firming before the announcement
harris said its dealings in builders transport were on behalf of its advisory clients
in any year they threatened to top 50 pct he would be ordered to propose quotas or other solution
fiat says it not planning to issue eurobonds
february imports were 600 billion francs against exports of 537 billion
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
the bank of england said it gave the money market another 31 mln stg in assistance in the morning session
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 
there were no ratings by moodys investors service inc or standard and poors corp at the time of the pricing drexel said
a us embassy report said last month thailand could achieve five pct real gross domestic product growth in 1987 up from a projection of 38 pct for 1986 and 37 pct in 1985
cash flow continued at a high level being 9506 mln dlrs before capital expenditure against 102 billion in 1985
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
but energy sector output fell nine pct and mining production declined seven pct
it set a lira d mark rate of 43015 43230 to the mark down from 42830 43044
the question is how far and how fast yeutter said
project cost and plant capacity were not disclosed
heyman owns about 2700000 of gafs 335 mln shares outstanding
the whole refinery was closed pending enquiries but a decision when to reopen the main units will be taken in the next couple of days he said
rexnord inc said it will redeem all of its preferred stock purchase rights for 10 cts a right effective today
the shares later eased to 34450
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
the leveraged buyout was implemented to ward off a bid by dart group corp dartao
lightning minerals inc year loss
it said this trend will continue because of latin american debt problems
however the letter also allowed room for an extension of that date to april 23 if an agreement could not be reached
federal home mortage buys funds from lender
midlantic said it will pay 8373 dlrs a share in cash or 236 times county bancorps march 31 book value for each of countys about 2760000 shares outstanding
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
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
for the year ended december 31 paradyne reported a net loss of 385 mln dlrs
advo system inc said it could report a break even second quarter ending march 28 1987 compared with a loss of 18 mln dlrs or 16 cts a share in fiscal 1986s second quarter ended march 29 1986
the bank has loaned indonesia 107 billion dlrs over the past 20 years
cambior inc five mths dec 31 net
transtar said it will add a third daily nonstop april one from new orleans to los angeles bringing to 10 the total of non stop and connecting flights to that city
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 issue price of the european investment banks 300 mln guilder 625 pct bullet bond due 1995 announced on april 1 has been set at par lead manager amro bank said
in a letter to the committee of independent directors formed to consider the offer heyman said it will have to modify the terms of the offer if it is to continue the bid due to rising interest rates and financial market conditions
the international share in turnover was 50 pct in 1986 compared with 52 pct in 1985
taiwan sees sharp decline in shipbreaking
last week tvx said the sale which was scheduled to close then had been delayed
chemical said net interest income fell to 4764 mln dlrs from 4889 mln and its net spread narrowed to 361 pct from 396 pct
japan now produces only 30 pct of its annual grain needs down from 61 pct some 20 years ago official figures show
1985 sales exclude contract revenues of 3217000 dlrs
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
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
results of flow control operations have been included since its acquisition from itt corp on jan 31 1986
utilicorp united inc said its management is recommending to the board of directors a three for two stock split and an increase in the quarterly cash dividend rate currently at 37 cts per common share
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 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
asked which techniques were available to preserve stability lawson said both central bank intervention and interest rate changes could be used to tackle the market pressures there are from time to time interest rate stability is not an objective in that sense rates have to be moved up and down at times he added
usair offered 71 dlrs cash per share for half of piedmont stock and 73 dlrs per share in stock for the balance
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
nl industries inc nl 3rd qtr net
the central bank will keep a watch on high growth in liquidity because this is a factor that may cause rises in prices of goods he said
itel said the banks it obtained commitments from include manufacturers hanover trust co mhc chemical bank of new ltyork and the first national bank of chicago
holiday operates harrahs marina hotel and casino in atlantic city nj
combined international corp said its board voted to increase the quarterly dividend 71 pct to 60 cts a share from 56 cts payable may 26 record may 12
accepted bids ranged between 1951 and 2060 pct compared with 1874 and 2048 pct previously
the strikes in brazil come as the government is trying to extricate itself from a serious debt crisis brought on by a deterioration in its trade balance
that will be followed on wednesday and thursday by respective quarterly sales of 775 billion dlrs of four year notes and 725 billion dlrs of seven year notes to refund 1572 billion dlrs of two year and four year notes maturing march 31
salomon brothers co managed the deal
in 1986 the company purchased scott and foresman its biggest acquisition ever
zimbabwe has around two mln stonnes of surplus maize in storage accumulated after two years of bumper harvests
stanley it was formerly known as ghr energy corp
brokers said the new deal took them by surprise and all major players stopped making markets in existing issues
despite a dramatic rationalization of its fork lift truck axle and transmission and construction equipment operations continuing intense competitive pressures are limiting clarks growth and profit potential s and p said
jordan is to receive 988 mln dlrs in loans to finance development projects planning minister taher kanan said
they said their overseas borrowings and forward dollar transactions showed a drastic decline with some banks registering a fall of up to 30 pct
traders here and in paris said the results of todays ec white sugar tender are hard to forecast because of plans by a group of french west german dutch and belgian operators to sell one mln tonnes of sugar into intervention
but economists warned that may not be soon enough for japans trading partners
nine mths prior includes extraordinary gain 23 mln dlrs or 14 cts per share for replacement of a pension plan
the board proposed a dividend of 155 crowns vs 125
marcor development co inc said it expects to post a profit for its fiscal year ended february 28 of about two mln dlrs compared to a year earlier loss of 32 mln dlrs
petroleum futures posted a modest rally on the new york mercantile exchange
airsensors inc arsn 3rd qtr jan 31 loss
on monetary policy lawson confirmed the target range for the narrow m0 measure would be two to six pct in fiscal 1987 88
arbitrageurs said there was disappointment that neither of the offers topped 20 dlrs
it will extract enough ore to provide an estimated 25 mln dlr profit by the end of this year he added
rains in the middle of last week reached an average of 27 millimetres in parts of buenos aires province 83 mm in cordoba 41 in santa fe 50 in entre rios and misiones 95 in corrientes eight in chaco and 35 in formosa
oper shr loss 16 cts vs loss 44 cts oper net loss 8926000 vs loss 144 mln revs 9920000 vs 212 mln year oper shr loss 430 dlrs vs loss 224 dlrs oper net loss 2218 mln vs loss 537 mln revs 514 mln vs 944 mln note oper net excludes losses from discontinued operations of 228000 dlrs vs 4253000 dlrs for qtr and 104 mln dlrs vs 142 mln dlrs for year
the uk government launched an investigation into the affairs of guinness last december
the purchase price of the outstanding shares is about 86 mln dlrs
under the offer current dome common and preferred shareholders would own 20 pct of the new subsidiary which would own and operate all domes former assets
rowntree expects north american operations will this year ahead of company expectations be of the same order as those from the uk and the rest of europe combined the statement said
the late season harvest consisting mostly of valencia oranges has not yet started he noted
officials seen arriving by correspondents included west german finance minister gerhard stoltenberg and bundesbank president karl otto poehl french finance minister edouard balladur and his central banker jacques de larosiere
super rite foods inc srfi sets qtrly payout
as a member of the general agreement on tariffs and trade gatt india cannot officially support bartering
bolivia halted all payments on its commercial bank debt in march 1984
several officials said they did not see any fundamental reason for the dollars recent sharp fall
finnish economic growth put at three pct in 1987
the federal reserve entered the us government securities market to arrange two billion dlrs of customer repurchase agreements a fed spokesman said
us approves buyout of coastal bancorp csbk 
pancanadian petroleum ltd said it agreed to sell its working interest in its north sea properties and its british unit canadian pacific oil and gas of canada ltd to whitehall petroleum ltd a private british company
prospects for growth in petrochemical sales is good as long as economic growth continues but future large grain surpluses could dampen fertilizer demand and maintain pressure on prices
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
wholly owned subsidiary lyonnaise de developpement touristique would carry out the construction work and financial planning of the development which would be leased to club med as operator of the complex he said
american health properties inc ahe 1st qtr
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
parent company turnover 220 billion francs vs 229 billion
shr profit 18 cts vs loss 21 cts net profit 766000 vs loss 510000 sales 324 mln vs 255 mln year shr profit 71 cts vs loss 23 cts net profit 2337000 vs loss 747000 sales 1321 mln vs 1196 mln note prior year results pro forma for acquisition of c and d power systems divisions of allied signal inc ald
rank makes increased avana offer final
domestic use in 1986 87 at 1134 vs 1105 last month
tokyo exchange allows more gold and rubber brokers
private bankers said they are awaiting a central bank decision on whether to allow commercial banks to continue holding up to 40 pct of their capital in foreign exchange or to return it to 20 pct as scheduled
pennsylvania enterprises pento bid stands
traders expect sharp drop in us corn acreage
placer has said the prospect has an estimated 14 mln tonnes of ore with a three gram per tonne concentration accessible by open pit mining and a further 45 mln tonnes with a 44 gram a tonne concentration between 300 and 600 meters underground
the fed said that business loans including acceptances increased 484 mln dlrs to 281546 billion dlrs
tecsyn tsnato terminates takeover talks
harper and row publishers inc said its board of directors decided to take no action on two takeover bids that the company has received
ec must explain farm policy to us france says
allegheney said the additional count sought by the plaintiffs alleges the price to be offered for ais common stock 2460 dlrs is grossly unfair and one the purposes of the proposed sale is to absolve the individual defendants of liability in the lawsuit
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
shr profit 72 cts vs profit 14 cts net profit 3309000 vs 609000 revs 72 mln vs 65 mln year shr profit nil vs loss 413 dlrs net profit 1000 vs loss 19 mln revs 245 mln vs 2691 mln
schlesinger now has a majority of support in the bundesbank council and since late summer poehl has had to represent his views bankers said
canterra will operate the well and has a 39 pct interest in it
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
maize yield this season is now estimated at 96 to 99 mln tonnes against last weeks 99 to 101 mln tonnes down 214 to 226 pct on the 124 to 126 mln tonnes at which private producers put 1985 86 production
geico corp gec raises qtrly dividend
that is our definition of the delay she said
as for ldc loans he said mellon had removed about 80 mln dlrs in fully current argentine loans from cash basis but had charged off about 20 mln dlrs in private sector mexican debt
his comment echoed last octobers organisation for economic cooperation and development report on turkey which said ankaras case for more medium term financing on better terms would look better if inflation were lower and the current account deficit cut or turned into a surplus
a cut in bank base lending rates is now widely expected tomorrow with most forecasts predicting a half point fall
qtrly div eight cts vs eight cts prior pay april 30 record april 8
3rd qtr oper shr 27 cts vs 29 cts oper net 4926000 vs 5231000 revs 185 mln vs 178 ln nine mths oper shr 78 cts vs 84 cts oper net 141 mln vs 153 mln revs 550 mln vs 536 mln note net excludes capital gains of 751000 dlrs vs 664000 dlrs in quarter and 5881000 dlrs vs 3409000 dlrs in nine mths
drexel burnham lambert inc is lead manager for both offerings
net 13820 mln dlrs vs 8780 mln
sec removes obstacle to foreign futures trading
uae oil minister mana said al oteiba arrived in alexandria last night for a visit to egypt the national middle east news agency mena said
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
national average prices for farmer owned reserve
domestic soybean production is forecast to rise steadily to 108 mln tonnes in 1987 88 from 980000 in the current year and 890000 in 1985 86 the report said
but minguzzi said the offer was a commercial affair and that producers had no intention of withdrawing the sugar offer already lodged with intervention boards of different european countries
he said guyana took its problems in january to the caribbean group for cooperation and development which includes governments and multilateral agencies with a view to finding a long term recovery plan
moodys upgrades texas air tex units debt
phillips estimates that the project which is expected to cost 15 billion dlrs will increase recovery by 170 mln gross barrels of oil over a period of 24 years
according to filings with the securities and exchange commission mark iv owns at least 176 pct of bairds stock and may attempt to acquire baird baird said
suzanne early assistant trade representative told the interagency meeting was to discuss us strategy on the vegetable oils issue
corby distilleries cdlto to buy heublein unit
but the dominican republic and costa rica joined the splinter group which said it would agree to objective criteria
portugals developing stock markets however remain buoyant
korea said it is choosing many of the 122 items on which the us wants it to cut import tariffs in order to deflect pressure for currency revaluation
the brazilian delegate said several producers requested the meeting but brazil was not among them
but with cp air being run by eyton it will be very conscious of profitability and shareholder return
the dividend will be distributed on april 13 to holders of record march 30
elders resources ltd said its two for seven convertible unsecured notes issue will raise 16132 mln dlrs for group expansion and development
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
the placing has been arranged through allied irish investment bank plc at an ex dividend price of 371 irish pence per share
shr profit nil vs loss five cts net profit 232 vs loss 124380 revs 143397 vs 61901 1st half shr profit one ct vs loss 10 cts net profit 15722 vs loss 264539 revs 354843 vs 120403
heller said there was a danger of renewed price inflation
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
the gelch group said it bought the stake for about 935000 dlrs for investment purposes only
exchange rates almost within g 6 levels sumita
under current law the 1987 soybean loan rate cannot be less than 477 dlrs per bu
shr 12 cts vs eight cts net 102002 vs 59396 sales 3024423 vs 2437489 avg shrs 1032000 vs 746004 year shr 64 cts vs 45 cts net 570491 vs 340852 sales 111 mln vs 106 mln avg shrs 1032000 vs 753948
world prices are still below polish production costs and there is no way to convince farmers to increase the area above the already signed contracted level
laroche drops condition to neco npt offer
indonesia told the oil industry on tuesday it will extend contracts on producing blocks and improve the investment climate but wants to see increased expenditure on exploration in return
terms of the acquisition were not disclosed
the house of lords ruling on the use of itc documents will be referred back to the action by two shearson lehman companies against the london metal exchange although the underlying case is not expected to be resumed until mid 1988
nz february current account deficit narrows
antara reported that siregar said the government wanted to help boost exports from the rubber and palm oil industries which are centered in sumatra
the anhui provincial government has sent emergency relief to the 19 counties affected the news agency said
economic spotlight us deficit with nics
physio technology phyt sees loss in default
speaking earlier in new york uruguays foreign minister and cartagena group chairman enrique iglesias said citicorps decision could discourage new lending
lumonics inc year loss
among the main factors affecting liquidity bills maturing in official hands and the take up of treasury bills will drain some 161 billion stg
no one is exactly sure how to proceed with structuring and marketing these issues
brazilian consumer prices rose 139 pct in february compared to januarys record rate of 168 pct the brazilian geography and statistics institute said in a statement
but amcs future to be discussed at a board meeting today would be radically different as a chrysler subsidiary than if it had continued with the state run french car group as its controlling shareholder
to add to that the us soybean association is spending billions of dollars to discredit palm oil and coconut oil by saying that they are polysaturated fats and bad for the heart he 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
qtrly 15 cts vs 15 cts prior pay may eight record april 24
he declined to name terms
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
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
japan money growth to stay at 11 12 pct official
operating revenues 538 billion guilders vs 585 billion
it would have been a bonus if the company had won but all budgeting had been on the assumption that it would not he said
while m 1 may have lost its significance as an indicator of economic growth sullivan said fed officials might be concerned the latest drop in m 1 means another month of sluggish growth in the broader monetary aggregates m 2 and m 3 which are seen as better gauges of economic growth
but trade sources were hopeful that the shultz comments may indicate some movement towards eep wheat to moscow
according to the prospectus offer shareholders may tender for all cash or all shares on a first come first serve basis
these sales are a continuation of an asset redeployment program at kaiser cement and will allow kaiser to concentrate its efforts in the california marketplace where it is the largest cement producer and holds a premiere market position hanson industries chairman gordon white said
dow dow amends resins price increase
the cambio la guiara exchange house had operated in venezuela for more than 20 years
holder communications corp said it agreed to buy five privately held companies with combined 1987 revenues expected to be about 25 mln dlrs
the twice weekly flights to the saudi capital will fill a hole in its middle east network it said
another is expected to load 20000 tonnes of colza for the soviet union
this is strictly seasonal said charles bradford of merrill lynch and co
paul mlotok oil analyst with salomon brothers inc said that with the closures exxon made in 1986 in europe and the improvement in the european refining situation its future profits there should be good
mexico signs 100 mln dlr iadb tourism loan
shr loss 46 cts vs loss five cts net loss 3922000 vs loss 420000 sales 160 mln vs 239 mln avg shrs 8567000 vs 8458000 nine mths shr loss 102 dlrs vs profit 35 cts net loss 8685000 vs profit 2978000 avg shrs 8547000 vs 8437000
the european community ec and euratom the european atomic energy agency are expected to issue french franc eurobonds this month a treasury spokesman said
a new world bank loan of 300 mln dlrs last month in balance of payments support was given partly to help the government maintain the momentum of reform the bank said
no financial details about the amoco offer were available and a dome spokesman would neither confirm nor deny that amoco had emerged the winner the newspaper said
as a condition of its offer it said dixons would have to increase the cash price it was to pay for each cyclops share to 9325 dlrs in cash
adams express co adx sets regular payout
an additional 150000 tonnes of wheat flour is still available to iraq under the export enhancement program initiative announced january 7 1987 the department said
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
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
in february texas air acquired the minority interest in continental that it did not already own for 1650 dlrs per share
salvage workers have moved cranes into place alongside the wreck of the 7951 ton roll on roll off ferry which now lies partly submerged on a sandbank outside the harbour
the independent research organisation cut its 1987 growth rate forecasts for west germany to 22 pct from 32 pct in december and to 23 pct from three pct for japan
sale of the newport news system was completed in december
solar systems ssdn inkey of spain set pact
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
toshiba has an agreement with motorola inc motn to sell the us firms chips in japan
the dealers for the program are barclays de zoete wedd credit suisse first boston ltd goldman sachs international swiss bank corporation international ltd and sg warburg and co ltd
finance minister gerhard stoltenberg said last thursday he was looking for other ways to finance the reform such as raising indirect taxes
chancellor corp chcro 4th qtr march 31 loss
reynolds said work will commence on the potline restart in the near future and it is expected that actual metal production will begin on september one
southland corps subsidiary citgo petroleum said it raised its posted prices for crude oil across the board by 50 cts a barrel effective june 17
note year ago results restated to reflect change in accounting principle effective august one 1985
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
recent examples were the rise in the financial rand and the sharp increase in foreign exchange reserves
we must face the fact that greater flexibility in devising new money packages may in effect be essential to future bank syndications mulford said
certainly i do not see any shortage in external resources and if gnp growth continues at this level i would assume that domestic resources on the fiscal side would be generated and would not be a stumbling block fernandez said
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
ecuador yesterday said last weeks earthquake was forcing it to reaffirm an earlier decision based on the slide in world oil prices to suspend debt payments to private foreign banks which hold two thirds of its 816 billion dlr foreign debt
toyota motor credit issues 23 billion yen bond
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
shr 44 cts vs not given net 3499000 vs 2295000 note converted to stock ownership aug 1 1986
satlantic soafo independence inhoo merge
he said the poor results were caused by a range of exceptional circumstances wholly outside our direct control and predicted a return to profitability this year
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
operators feel the foreign exchanges are likely to test sterling on the downside and that this seems to make a fall in uk base lending rates even less likely in the near term dealers said
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
it also laid down several conditions for an asset privatisation trust apt planned by the government to dispose of the banks unproductive assets the sources said
golden west financial corp gdw 1st qtr net
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
brazil trade surplus rises in february
they said issues to be discussed by the ministers from bahrain kuwait oman qatar saudi arabia and the united arab emirates uae would include a recommendation by central bank governors on a common currency exchange rate
arrivillaga said any instruments used to compensate landowners had to be freely tradable at near face value and added the challenge is to devise a system of deferred payments that is as good as cash he said the international financing community was watching the philippine experiment with great interest
bergen brunswig corp bbca 2nd qtr feb 28 net
under german law disclosed provisions do not necessarily reflect the full amount of risk provisions
north west telecommunications inc said it acquired the assets and customer base of com tel systems inc a telephone interconnect firm that operates in la crosse and stevens point wis
gasoline demand averaged 676 mln bpd off 31 pct from 698 mln last year while residual fuel demand was 115 mln bpd off 169 pct from 139 mln the eia said
in 1986 the company earned 442 dlrs a share on revenues of 107 billion dlrs
the stores are profitable
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
usda reports corn switched to ussr
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
the need for urgent reforms is justified by the imbalance and tensions of the world economy the secretary general of the organisation for economic cooperation and development jean claude paye said
it opened slightly firmer at 43350 43400 and moved up steadily during the morning supported by commission house and trade buying dealers said
in the corresponding year ago period it reported net earnings of 138 mln dlrs
japanese foreign stock purchases jump in february
the pumping station was about 20 km from the reventador volcano near the epicentre of the quake which ecuadorean seismologists said registered six on the 12 point international mercalli scale
a westdeutsche landesbank girozentrale westlb unit is raising 50 mln australian dlrs through a five year bullet eurobond with a 14 3 8 pct coupon and priced at 101 1 2 co lead manager westlb said
the bank of japan will sell today 400 billion yen of government financing bills in a 24 day repurchase agreement due april 20 to soak up a projected money market surplus money traders said
he added even japan against whom this proposal seems to be particularly directed has started opening its markets
saudi riyal interbank deposit rates eased across the board in a dull market which was long in day to day funds dealers said
the finance ministry has proposed informally to its bond underwriting syndicate that the coupon on the january 10 year government bond remain unchanged from february at five pct underwriting sources said
the commission has also approved transcapital acquiring up to 45 pct of astral pacific rainbow said
this allows the exchange and its members to concentrate our marketing on the pig and live cattle contracts lmfe official peter freeman said
a french official added there is also a common interest in getting japan to cut its trade surplus with the rest of the world by opening up its markets although relations have improved markedly between the two countries many irritants remain
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 loss two cts vs profit three cts net loss 77400 vs profit 134000 revs 418500 vs 435900 year shr profit eight cts vs profit 27 cts net profit 315100 vs profit 1082700 revs 1761900 vs 2511200 note per share figures adjusted for four for three stock distribution effective dec 14 1984 1985 results include an extraordinary tax benefit of 55000 dlrs or one ct a share in each period
ors said the offer for private sale of the stock being made on a best efforts basis is designed to raise five mln canadian dlrs which the new company will invest in properties and projects using the electromagnetic well stimulation process developed by iit research institute under sponsorship of ors
domestic group 1986 net profit rose to 10579 mln marks from 8071 mln
holdings plc rtrsl said it had agreed in principle to buy i p sharp associates ltd of toronto for 304 mln stg
pioneer systems inc pae year nov 29 loss
terms were not disclosed
underwriters away from the syndicate said they believed the bank of america deal was priced too aggressively
bethlehem also said that in response to changing market conditions and potential inflationary pressures efforts will be made to mininize the number and the duration of firm price contracts
merrill lynch mer canada mulls buying broker
ncr ncr sees good chance for record year net
the funds will be used for sewerage and reclamation work
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
but market analysts see the recent upward pressure on sterling and consequent need for official sales to damp down its rise more in the light of local factors
i am convinced that israel exports to the us can reach five billion dlrs in the next five years if we learn to function in the american marketplace and place greater emphasis on product quality yaacobi said
the company today reported earnings for the year ended january three of 207514 dlrs up from 98050 dlrs a year before
the agency also assigned an initial rating of b 1 to the companys 90 mln dlrs of senior subordinated notes due 1997
dunn had sales last year of about 65 mln dlrs
once the registration becomes effective baltimore gas and electric will be able to issue debt on short notice as market or corporate conditions warrant
the company said it intends toi proceed with filing a reorganization plan for transamerican with the us bankruptcy court in houston
talks between management and unions at cargill uk ltds seaforth oilseed processing plant will resume monday a company spokesman said
we see moderate growth crow told a news conference following presentation of the central banks annual report in the house of commons today
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
today it reported a loss for the third quarter ended december 31 of 561029 dlrs compared with a 114712 dlr loss a year before
as a result banks including a few foreign operations have started moving into capital market operations to broaden their earnings base and take advantage of the relaunch just over a year ago of the istanbul stock exchange
the subsequent shift from shares to bonds could cause major falls on the world stock markets
shr profit 20 cts vs profit five cts net profit 2273000 vs profit 563000 rev 387 mln vs 303 mln avg shares 11138503 vs 10982699 nine months shr profit 40 cts vs loss 10 cts net profit 4448000 vs loss 1123000 rev 1084 mln vs 752 mln note third qtr net includes gain from discontinued operations of 35 mln dlrs or 31 cts a share vs 271000 or two cts a share in fiscal 1985s third qtr
chemlawn has rejected waste managements 27 dlrs a share bid
brazilian finance minister dilson funaro flatly rejected a uk suggestion that his country seek international monetary fund imf help in order to facilitate debt negotiations with commercial creditor banks
australian wheat farmers normally receive an advance payment known as the guaranteed minimum price gmp calculated at 90 pct of the average of estimated returns in the current year and the two lowest of the previous three years the department said
acknowledging the dollars latest slide was now a fact of life balladur said there may be adjustments of course in one or other currencies this is not a fixed rate system but federal reserve board chairman paul volcker said he might rein in credit if the dollars slide deepens
but added time is now ripe and all circumstances are appropriate for making crucial progress referring to the iran iraq war he said efforts should continue to find a solution despite prevailing difficulties
the agency could buy up or guarantee developing country debt at a discount and resell it to debtor nations undertaking economic reforms
indian rate cuts to spark industry agriculture
initial proposals would have given cable a three pct stake
brokers said improved results had been widely expected by investors
international minerals and chemical corp said its board approved a 50 mln dlrs budget over the next several years to build production facilities for a newly developed product to be used to improve the lean weight of hogs
computer memories cmino to delay merger
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
selas said it has not decided whether it will appeal the ruling
that included agricultural trade liberalisation for the first time in the lengthy program to re negotiate the gatt
wage and price controls have been in force since august 1985
in addition to buying dollars outright another way to stabilize the us currency would be for the fed to push us interest rates higher relative to overseas rates
dart group declines comment on dayton hudson dh 
wallis was quoted as saying the reagan administration wants japanese cooperation so the white house can ensure any us trade bill is a moderate one rather than containing retaliatory measures or antagonising any particular country
however volcker said there are encouraging signs particularly the rising volume of exports over the past year achieved despite relatively slow growth abroad
but infrastructure projects take much longer and involve much bigger investments and with them the ideal way is to use soft loans he said
gm march us car output 395294 up from 366671
santos said 75 pct of its loans were us dollar denominated and significant currency purchases were made during the year to maintain that natural hedge
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
the company earned 64000 dlrs in last years first quarter
written mainly in december last year the report took no account of a rise in oil prices early in 1987 and a 09 pct surge in january consumer prices caused partly by the governments deregulation of service sector tariffs
bolivia once latin americas most delinquent debtor is preparing for a second international monetary fund agreement after an economic stabilisation program has effectively slowed inflation and reduced public spending
jude medical inc said its board declared a special dividend of one right for each outstanding share held of the companys common stock payable to holders of record april six
without decisive action in washington this nation will once again become a hostage to opecs plans and policies hartley said
commerce secretary malcolm baldrige said the united states would go ahead with planned 300 mln dlr sanctions against japanese semiconductor exports despite any us japanese talks to avert the trade curbs
he declined to describe what sort of help the saudis were providing saying that saudi officials are reluctant to acknowledge their role in the gulf where the united states has stationed forces to protect shipping lanes
the soybean crop for this season was not adjusted remaining at a record 75 mln to 77 mln tonnes up 42 to 55 pct on the 72 mln to 73 mln estimated by private sources for 1985 86 and 56 to 85 pct higher than the official figure of 71 mln
brazil is not happy with the existing structure of the 14 bank advisory committee which coordinates its commercial bank debt finance minister dilson funaro said
president ronald reagan warned iran of stronger american countermeasures if the military escalation continued
biotech capital corp said it agreed to buy high technology magazine from the goldhirsh group of boston
swiss february trade deficit 6297 mln francs
royal dutch shells scallop petroleum co subsidiary said it will reduce the price it charges contract barge customers in new york harbor for heating oil by 25 cts a gallon effective tomorrow
a few banks are unsure if they really want to get involved in the business
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
change of european operations method resulted in pre tax translation losses of 11 mln dlrs in 1987
general electric ge to buy kraft kra unit
bankers could not estimate how many loans were involved expect to suggest it was a sizable number in a statement the inland revenue said that on loans made on or after april 1 the new measures would apply to interest arising from that date
smithkline beckman corp skb 3rd qtr net
the federal farm credit banks funding corp said its will offer a total of 17 billion dlrs worth of bonds on march 25
the ministry said in a communique that the returns included banking group societe generale sgenpa which began its two week public flotation last monday
shares of chemlawn shot up 11 5 8 to 29 3 8 in over the counter trading with 38 mln of the companys 101 mln shares changing hands by late afternoon
the commerce department said non petroleum imports in the quarter were up 27 billion dlrs or three pct to 877 billion dlrs with the largest increases in consumer goods which rose 12 billion dlrs and in non monetary gold and passenger cars from canada up 900 mln dlrs each
chase banks steinhaeuser and other frankfurt dealers said the g 7 communique guaranteed a relatively calm and stable market for the foreseeable future compared with the extreme volatility seen in the first few months of this year
wallis who is attending a sub cabinet level bilateral trade meeting made the remark yesterday in talks with saito
shanghai tyreb factory to raise 30 mln us dlrs
lme ring dealers said the new contract would match more closely trade requirements and possibly alleviate some of the recent wide backwardations
dominion textile inc considers a published report that it has bought a stake in burlington industries inc and is considering making a joint bid for the company to be a rumor a company spokesman said
uk wheat and barley exports adjusted upwards
reagan administration officials said later that washington did not seek military confrontation with tehran but would not let iran use chinese made silkworm anti ship missiles capable of covering the narrow entrance to the gulf to choke oil shipments to the west
imatron imat sells stake to mitsui mitsy 
moore medical corp said it plans to acquire privately held penta products a wholesale distributor of generic durgs for undisclosed terms
stoltenberg said studies by international organisations had made it clear that especially in the us and in japan major efforts remained necessary to support adjustments in foreign trade balances via necessary corrections to economic policy
vms strategic vlans sets initial dividend
we are trying make sure that public bodies stick to the investment programme and do not exceed their appropriations he said
cooper basin oil producer santos ltd stoss said it will bid 400 dlrs a share for the 9603 pct it does not already hold in diversified oil and gas company tmoc resources ltd santos said the bid values tmoc at 2485 mln dlrs
subject to shareholder approval at a meeting on april 22 a further 75 mln dlrs in convertible bonds would be subscribed by bell group chairman robert holmes a court it said
pan ams pn main unit to report smaller loss
the uk last year showed a trade defict with japan of 37 billion stg official figures show
the ruling appeared to mean that tax relief on the expensive process of abandoning rigs would apply when the expense occurred not when provisions for future expenses were built into the accounts one analyst added
passengers crew and cargo were insured by the standard steamship protection and indemnity association one of several shipowners mutual insurance funds worldwide
kistler estimated that the merger which should be completed in about two weeks will result in annual cost savings of about 50 mln dlrs
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
ges stock declined 1 4 to 103 1 2 on 625000 shares by midafternoon
macandrews and forbes holdings bids for revlon
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
other members are algeria kuwait saudi arabia libya nigeria and qatar
premdor plans two for one stock split
henry schuler a former us diplomat in the middle east now with csis said washington had agreed to escort kuwaiti tankers in order to deter iranian attacks on shipping
ldbrinkman corp ldbc 2nd qtr jan 31 loss
interest will be based on the annual money market rate tam with a tam reference rate of 810 pct and with a margin of minus 010 pct
shr 11 cts vs five cts net 806000 vs 384000 revs 180 mln vs 156 mln nine mths shr 28 cts vs 17 cts net 2105000 vs 1320000 revs 519 mln vs 461 mln note full name safeguard health enterprises inc
kansas city southern ksu merger response
international pact on ozone damage likely in 1987
i cant put another name on it said kidder peabody analyst jay freedman as vaguer rumors continued to hold up wendys stock
foreign bankers here said the pact gave manila the largest interest rate cut among major debtor nations
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 there were several people looking at the domestic drilling bit business
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
in addition to the possible bid for control the group said it may purchase additional media general shares or possibly seek one or more seats on the companys board of directors through a proxy contest
eighty octane petrol increases to 90 sucres from 50
fees comprise one pct selling concession with 55 basis points for management and underwriting combined
continental general insurance cgic 4th qtr net
rte corp said it completed the purchase of the us aluminum electrolytic capacitor business and related assets of emhart corp for undisclosed terms
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
mci mcic president sees profit improvement
the finance ministry approved the banking industrys plan to cut its share in the government bond underwriting syndicate to 738 pct from 74 pct from april 1 to allow six foreign securities firms to participate a ministry spokesman said
results of the study which has not been released by oecd because of objections from some countries were provided to by officials of several countries on condition they not be identified
the non callable bond is available in denominations of 1000 and 10000 canadian dlrs and will be listed in luxembourg
the plastics are used in telephone equipment office equipment and appliances
pretoria last week announced that it had reached a three year rescheduling agreement with the major international creditors that will effectively extend a moratorium on most repayments of the short term portion of the debt until mid 1990
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
the primary cause of the plan to sell 775000 tonnes of sugar into intervention in france is dissatisfaction with the ec export program as the restitution has increasingly failed to bridge the gap between the ec price and the world market price czarnikow notes
however most said this had not occurred
critics charge mpt with protecting its own turf limiting competition and sheltering the former monopolies under its wing
allis chalmers ah defers interest payments
metromail mtma predicts flat earnings
he intends to push separately a bill to protect the domestic textile and shoe industry an aide said
commonwealth mortgage co inc ccmco 4th qtr
last weeks high export levels appeared to show continued support for official opec prices from saudi arabias main crude customers the four ex partners of aramco the sources said
the company said proceeds would be used for potential future acquisitions
closing is expected soon pending appropriate approvals the company said
the treasury said it took the action because it felt that when congress passed the comprehensive south african sanctions bill last fall over president reagans veto it had not intended to hurt us industry
in the year ago quarter ashland had income from operations of 938 mln dlrs before corporate and interest expenses taxes equity income and other items
such action would put a lot of pressure on the canadian banks to do the same levesque beaubien inc toronto based bank analyst donna pulcine told 
general cinema gcn poor season lowers net
someone should establish it a us sprint spokesman said
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
the year on year trend of government stock building is continuing with year on year company stocks also rising more or less in line with consumption after declining for five years the iea noted
jordan petrocanada agree oil exploration project
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
itt canada ltd year net
plant and equipment investments of all firms polled fell 39 pct to 8004 billion yen compared with a 14 percent fall the previoius quarter
taunton which went public last june said the rate was based on 3220000 outstanding shares
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
central bank president leonel figueroa said peru had enough hard currency gold and silver on hand to cover 10 or 11 months worth of imports
corrected gm gm to idle six plants
partners call gencorp gy response unproductive
startel stas to have loss sales drop
but haq said now the private sector would also export cotton and rice along with the corporations which meets a long standing demand of the local traders
it has commitments to export another 381171 tonnes this year
i feel that we shall probably have to deal with quite a few more crises in the foreseeable future not only is the us congress clearly very determined to get the american balance of payments into better shape but the risks of brinkmanship are all the greater because the ec has its own constraints in meeting outside pressure engering noted
tribune co trb 3rd qtr net
it said the assets were transferred to irving commercial corp
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
french economic council pessimistic on 1987 growth
sharp shareholders will be offered cash shares or a mixture of the two in settlement
they said the cut is based on a revision of the trust fund bureau law which should be approved by parliament on march 3 abolishing the 605 pct minimum interest rate on deposits with the bureau
earlier today newspapers in turkey carried an advertisement from turkish sugar factories inviting offers of 100000 tonnes of crystal sugar with a 50 pct option to increase or decrease the amount
jesse helms r nc former chairman of the senate agriculture committee
both tranches will be redeemable at the end of their lives and both have a payment date of april 27
malaysia to research tin wary on veg oils tax
he said france was continuing negotiations with iran
the selling concession is 1 1 8 pct while management and underwriting combined pays 5 8 pct
consolidated attributable net 1986 profit 360 mln francs vs 2798 mln
rooter said it discovered additional information relating to united western and the unaffiliated privately held corporation which had guaranteed all of united westerns obligations under the agreements
an untoward increase in consumption spending before the balance of payments improves would have disastrous consequences he said
japan must try harder to cut surplus minister
in the same way it has been understood that greece will also not undertake oil activities outside its territorial waters the statement added
commodities are also standardized to avoid measurement problems and occur at the beginning of production so as to give early warning signs of wholesale and retail changes
upcoming changes being considered in the us agriculture departments transportation and loan programs were outlined by a usda official today
the fiscal year ends december 31
auto dealer sales were 2691 billion dlrs in february a 144 pct rise from january levels
crandall said the administration is doing this for its political impact across the country and therefore its impact on congress he said i dont think it makes a lot of sense but other analysts said it made little difference whether the tariffs were aimed at us trading partners or congress and that the main point was that the trading partners were on notice that retaliation was a weapon reagan was ready to use
transtar said it will increase to three daily connecting flighs to orlando via houston
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 issue carries a call option from 1993 at 102 pct declining thereafter by 1 2 percentage point per year
thailand exported 123 mln tonnes of rice in january march down from 129 mln tonnes a year ago
the dutch central bank said it has accepted bids totalling 65 billion guilders at tender for new eleven day special advances at 53 pct covering the period march 9 to 20 aimed at relieving money market tightness
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
pressure for change has mounted because the mexican deal has been even more difficult to syndicate than bankers feared
proposed dividend 080 crowns vs 040 crowns
stuart hall co inc stuho 1st qtr feb 28 net
his plan is an outgrowth of a study by a coalition of northeast governors
after petrobras threatened to cancel the contract the saudis changed their minds and decided to accept the bank of brazils credit guarantees he said
under review are ecolabs a 3 convertible subordinated debentures and the convertible eurodebt of its unit el international ltd
reichhold chemicals inc said it is exploring the sale of its stake in its european subsidiary reichhold chemie ag
interest rates on commodity loans disbursed by the commodity credit corporation ccc this month will carry a 6 7 8 pct interest rate the us agriculture department said
the european community ec delivered warnings to both japan and the united states over trade frictions which have hit relations between the community and its main trading partners
bauxite accounts for 90 mln dlrs of exports or 40 pct of the total
southern europe has strong domestic demand growth
it received 118 loans worth 37 billion dlrs for 112 projects between 1968 and 1986 190 pct of the adbs total lending
liberalization of italys foreign exchange controls should be gradual but also reasonably rapid a report issued by a study committee nominated by the italian treasury ministry said
quebec said it also wants interprovincial pipe line ltd ipipfo to adapt its pipeline from sarnia ont to montreal to carry natural gas liquids a decision that will be made by the federal national energy board
bonns finance minister gerhard stoltenberg argues that major currency shifts needed to remedy the huge imbalance between west germany and japans trade surpluses and americas trade deficit have already taken place
qtly div 40 cts vs 40 cts prior pay may 15 record april one
the plants will be closed for a week starting august six for inventory adjustment
central bank president javier nogales told the negotiations with the paris club which have yet to be finalised had been extremely successful
gothenburg material is often a target for merchants shipping to the ussr traders said
the outbreak in the countrys main ranching province has already led neighbouring beef producing botswana and zambia to bar beef and dairy imports from zimbabwe threatening the dairy industry with a loss of at least one mln dlrs in export revenue
hungary devalued by a similar amount last september and by between three and four pct early last year
shr loss 113 dlr vs loss 204 dlrs net loss 3674000 vs loss 3016000 revs 2894000 vs 1464000
wed sell it to the highest bidder miller said
according to terms hmos shareholders would receive a combination of cash and debt securities to be issued by the buyer in exchange for their outstanding shares of common and preferred stock it said
the white house said high us tariffs on japanese electronic goods would likely be imposed as scheduled on april 17 despite an all out effort by japan to avoid them
sumitomo metal mining co said it will raise its monthly nickel output to around 1750 tonnes from april 1 from 1650 now because of increased domestic demand mainly from stainless steel makers
trading range likely to continue in debt futures
it said the cfs and wolf plants are expected to be contributing to profit by the end of the fiscal year and it is seeking to bring the west texas operations to acceptable levels of profitability by the end of the fourth quarter as well
oper shr 49 cts vs 22 cts oper net 1018000 vs 468000 sales 950 mln vs 983 mln note net excludes tax credits of 284000 dlrs vs 310000 dlrs
berry petroleum co said its board and the norris oil co board approved a merger agreement that calls for norris to become a wholly owned berry subsidiary
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
twa said it has not yet had an opportunity to obtain the necessary financing for the deal but added it is confident that it will get it
all other terms of the issue remain the same salomon said
net profit 34 mln dlrs vs 43 mln dlrs
iraq says it attacks two ships in gulf
scrap crepe rubber prices firat colombo auction
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
thats going to prove very very instrumental in increasing volume over time he said predicting the increase would come within a year
spains most closely watched measure of money supply liquid assets in public hands grew at an annualised rate of 17 pct in march against 114 pct in december last year and a target range of 65 to 95 pct for 1987
mhi group mh affiliated with cemetary offer
nodaway valley co nvco 4th qtr jan 31 net
the compromise also stated buffer stock purchases on any day would be limited to 40 pct each in nearby intermediate or forward positions delegates said
1985 six months includes one time gain of 35000 dlrs
in addition cash flow from operations should benefit from planned working capital reductions
dresdner declines comment on scrip share report
first federal savings fchto 1st qtr net
royex said the purchase price for each corona share consists of one royex convertible retractable zero coupon series b first preference share at 20 dlrs nominal value one royex convertible 6 1 2 pct series c first preference share at 20 dlrs nominal value one five year 750 dlr royex share purchase warrant and four dlrs in cash
dominion textile calls report of bid for burlington rumor
qtly div 15 cts vs 12 1 2 cts prior pay april 15 record march 31
in addition barclays and guinness mahon have been named joint dealers for a complementary 100 mln dlr euro commercial paper program
the bank of frances open market policy to regulate the money markets since december has been based on a floor and ceiling of rates within the limits of its intervention and seven day repurchase rates
the move appears to be an effort to dampen us opposition to the planned merger of two rival firms seeking to compete with the current monopoly kokusai denwa denshin co ltd and to reduce the share held in any kdd rival by uk s cable and wireless plc cawll industry analysts and diplomats said
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
tdk group net up 05 pct in three months to august
audio video ava sues over cyclops cyl bid
official figures show the reserves at 10514 billion dlrs at end 1986 down from 119 billion at end 1985
an australian diplomat said citic was eager to pursue south korean markets
critics say the bank keeps the reins unnecessarily short
uk gec declines comment on us purchase rumour
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
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 
the crowd one of the largest to attend a meeting since south africa declared a state of emergency last june also shouted approval of a proposal to work closely with anti apartheid movements such as the united democratic front udf which claims two mln members
clark equipment co said it was informed by arthur m
the london grain futures market has also discussed merging with the other markets
the usda estimated disappearance last year at 67 billion bushels
if hasty action is taken in the united states it will create very serious problems the reagan administrations economic policy is expected to meet thursday to review japanese compliance with the bilateral agreement hammered out last year
mim intends to take preussag ags total 20 pct share in the copper producer in exchange for some three pct of mims share capital
venezuela prepares debt term sheet for banks
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
world market price for upland cotton usda
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
both home produced and imported goods rose by 01 pct during the month
considerations about the futures business have been drawn out because of the large number of participants involved in talks
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
but a few economists said there was an outside chance that the fed may inject reserves indirectly via a small round of customer repurchase agreements
but omb officials said other reagan administration efforts had already saved taxpayers 84 billion dlrs and would save another 25 billion dlrs or so by the time reagan left office
valley capital corp vccno 3rd qtr net
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
the latest available figures show that kenyan exports to pakistan mainly tea were worth 75 mln dlrs in 1985 while imports from pakistan amounted to only 48 mln dlrs
earlier today european community ec members decided to back an extension with the exception of britain which undertook to communicate its decision to its ec partners later
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 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
nordbanken is fermentas third largest creditor with loans of 155 mln crowns
a detailed report will appear in the march 9 s p creditweek
is said that afterwards reebok will have bank credit lines available for general corporate purposes including possible acquisitions
the only decision k mart has made is that we will continue to operate them he said kresge had been a nationwide chain of 900 variety stores
liberty all star equity fund said it declared an initial dividend of five cts per share payable april two to shareholders of record march 20
the company declined to say when the board would meet again
a leading us banker said the dollar was likely to fall another five to 10 pct this year and an improvement in the huge american trade deficit would be only temporary at current world exchange rate levels
chimbote kaohsiung 9500 mt bulk bagged fishmeal 250 ph 200 ph 20 4 5 5
the average foreign brokerage now underwrites only around 007 pct of each such issues volume they told 
consumer delegates said the same arguments in reverse would operate when prices are high the buffer stock should sell the highest priced cocoa in most demand forcing all prices lower
khalaf al oteiba marketing director at the abu dhabi national oil co adnoc told the companys petroleum community magazine adnoc was also keen to keep good customer relations
hostile takeovers are considered unethical and frowned upon by the japanese the trading company official says
chesapeake csk seeks to sell unit
shipping weight terms will be accepted at a 15 stg discount to this rate
in real estate first city said its nonperforming assets nearly doubled last year to 347 mln dlrs at year end
widespread soaking rains aided crop development across the province with the northwest crop producing region receiving the most precipitation according to the manitoba agriculture weekly crop report
proceeds will be used for general corporate purposes including the reduction of short term borrowings acquisitions stock repurchases and capital expenditures
april may butter went at 227 times new york may june july at 4400 and 4415 dlrs aug sept at 4351 to 4450 dlrs and at 227 and 228 times new york sept and oct dec at 4480 dlrs and 227 times new york dec comissaria smith said
the new shares will rank for dividends declared after october 31
shr 151 dlr vs 108 dlr net 231 mln vs 182 mln oper revs 811 mln vs 865 mln 12 mths shr 641 dlrs vs 577 dlrs net 1065 mln vs 992 mln oper revs 4658 mln vs 5098 mln note 1987 periods do not reflect the terms of earnings stipulation agreement among the company and various departments submitted for approval on march 18
inc
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
the official said the volume of the central bank cds which had a maturity of three months was still small as todays transactions were seen as an exercise for what is still a new market for the bank of finland
of the total 300 billion yen will yield 39989 pct on the sales from money houses to banks and securities houses in 27 day repurchase agreement due april 2
sun hung kai co ltd year 1986
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
however david owen uk economist at kleinwort grieveson securities said any fresh sterling strength would still trigger a base rate cut and that todays figures did not signal higher inflation this year
call rates have traded as high as 65 pct this week because of business year end march 31 balance date book squaring
the company said that in the event of certain triggering events described in the rights plan holders of the rights other than an acquiring person will be entitled to acquire northeasts common shares having a market value of twice the then current exercise price of the rights
ministers from more than 20 nations were told by new zealand that the next international negotiations on liberalising trade would be the last this century and the cost of failure could not be measured
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
esso malaysia bhd a unit of exxon corp of the us reported net profit of 70 mln ringgit from its petroleum and ammonia operations in 1986 compared with 487 mln in 1985
the loss in the quarter was 2323 mln dlrs or 675 dlrs against income of 107 mln dlrs or 31 cts a year ago
latest attack seen pointing up dilemmas for us
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
disney family makes bid for holly sugar hly 
it said swaminathan who has headed irri since 1982 will concentrate on environmental and agricultural issues
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
icn pharmaceuticals icn seeking acquisition
payments on remaining debt would be linked to cash flow generated by assets pledged against the debt
the trade bill gives us trade representative clayton yeutter more authority in trade negotiations and in decisions to grant domestic industries import relief
kiena gold mines ltd said shareholders approved a previously reported proposed two for one common stock split
peter friend of walywn stodgell cochran murray ltd said institutional buyers will be eager to add air canada to their portfolios as a blue chip investment but warned that new competition makes profit growth less certain
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
the losing candidate was a consortium headed by publishing group hachette sa hacppa the nccl decision awarded the bouygues consortium a 50 pct controlling stake in a company which will have a 10 year operating concession for tf1 frances oldest and most widely watched television network
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
the reagan administration wants to encourage expanded trade with the soviet union but does not believe moscow yet warrants most favored nation treatment deputy secretary of state john whitehead said
it said there are plans to boost production to 300000 ounces by the early 1990s
the office said leading indicators still do not show a consistent picture of the likely future developments of the business cycle in britain
1986 per share amounts caclulted from april 15 1986 to septebmer 30 the date of banks conversion to stock ownership
lifetime lft exchange offer accepted
siemens ag a west german company is also developing a rate responsive pacemaker
it used to be a chevrolet dealer was a chevrolet dealer
continental said the initial payout was subject to canadian government approval
under the accord leading industrial democracies pledged to coordinate economic policies to foster currency stability with the surplus countries west germany and japan stimulating their economies and the us promising to cut its budget deficit
the company did not elaborate further
decembers 29 pct was the previous worst level since the governments management and coordination agency began compiling statistics under its current system in 1953
such a merger would be complex and analysts said it would result in an airline iwth an 18 pct market share
in 1985 brazil exported 196 mln bags of soluble and green coffee including about two mln bags to non members
new dutch special advances unchanged at 53 pct
ford f credit unit sells new zealand dlr frns
they formed a self contained part of the overall group she said
the ministers of industry and communication and transport had both been relieved of their posts the news agency said
uk money market shortage forecast revised down
chevron nsea find may hold 300 mln bbls analysts
south korea will pay about 20 pct more for ethylene imported from japan in the second quarter of the year because increased plastic production in both countries has boosted demand and tightened supplies chemical industry sources said
tampico north spain 15000 mt ore two days shinc 3000 shex 5 25 4
ah robbins which is in chapter 11 said it filed the report with the us trustee overseeing its case
the companies on march 10 announced that they had signed an agreement in principle for the acquisition
venezuela has an output quota of 1495 bpd while ecuadors is 210000 bpd
the ruling gatt council deferred a decision on whether to set up a dispute panel on the basis of a european community complaint against the us japanese agreement on exports of computer semiconductors
the sources said the proposal was made in a bid to break a deadlock with the banks who were insisting on a minimum interest spread of one full percentage point over libor
schlesinger was responding to questions following remarks yesterday by bundesbank board member claus koehler and west berlin state central bank president dieter hiss which dealers said revived some speculation that german interest rate cuts may once again be under discussion
ocelot industries ltd year loss
she forecast profit of 299 billion dlrs
shr loss 111 dlrs vs loss 153 dlrs net loss 71 mln vs loss 88 mln revs 31 mln vs eight mln
cadillac fairview says it received takeover bids
the trade show is being changed into a new international event called the world pork expo
the texas gulf has always been the dominant market in those counties
denmark was also expected to see a slump in domestic demand
the central bank purchased 129 mln stg bank bills in band one at 9 7 8 pct
the firm will then use the funds to buy from its stock holding banks title to repayments of specified foreign loans which are potentially bad the sources said
jones medical industries inc jmed 4th qtr net
spain raises call money rates on higher demand
big b inc bigb 4th qtr jan 31 net
now weve got a company that can compete with air canada said thomas bradley of richardson greenshields of canada ltd
monsanto mtc unit sees operating loss in 1987
jopling also criticized a recent proposal still under consideration by the ec for a tax on vegetable and fish oils
blount inc blt 4th qtr net
inflation for the 12 months ending in february was 23 pct the spokesman said
a 150 mln issue of seven year notes was given an 8 1 2 pct coupon and par pricing to yield 145 basis points more than comparable treasuries
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
the commerce department on monday revised orders statistics for 1982 to 1986 to reflect more current inventory valuation methods and the february orders statistics are consistent with the revisions officials said
coastal also said it will file detailed objections to the disclosure statement filed earlier by transamerican
in addition zayre said it plans to add six new bjs wholesale clubs and eight new homeclubs to its warehouse group
bond media will be 50 pct owned by bond corp and is expected to be listed by the end of may it said
japan warned the united states it may take retaliatory measures if the united states imposes its planned trade sanctions on april 17 a senior government official said
us treasury says no comment on yen value
much depends on properties said measor
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
bankers say this makes comparison of profit figures difficult because some banks still book non accruing interest as revenue while others follow more conservative practices in force in major world financial centres
net profit 571 mln dlrs vs loss 691 mln
it said the mine would be operated by a contract miner but the associated mill by geodome
trade body sets new rules for eurodlr managers
we are thinking of diversification outside of the retail line the spokeswoman said
the payment date is may 7
japan conducts currency survey of big investors
the food and grocery products company also said it was the subject of five stockholder lawsuits and one class action suit filed last november and december in delaware new york and new jersey
monsanto co mtc 3rd qtr net
the resolution could be about any gulf related issue including an expression of support or of disapproval for reagans policy of protecting 11 kuwaiti tankers from iran in the waterway
the rating agency also said it expects earnings to remain under pressure for the remainder of this year
moodys said the anticipated merger of baker and hughes tool into baker hughes inc would result in increased financial leverage at a time of weak demand for the combined companys products and services
wildlife unit proposes alaska refuge oil study
but no compensation is contemplated at the moment he added
this attempt to weaken latin americas voting power and particularly a threat by washington to reduce funds to the iadb unless its reforms are accepted has created considerable resentment among latin americans
we no longer see a near term prospect for a reasonable return on our investment romilly humphries say president and chief executive officer said
in the year to september 1986 group profits totalled 39 mln marks on sales of 514 billion against the previous years 32 mln on 511 billion marks
a second surface hole 500 feet farther east intersected 1068 ounce per ton over 53 feet
when poehls contract came up for renewal earlier this year chancellor helmut kohls cdu led coalition government gave poehl another eight year term
taft chairmans group raises taft broadcasting bid to 150 dlrs share
phillips p raises crude postings 50 cts
the transaction is subject to fcc approval
gasoline service station sales rose 20 pct in february after a 19 pct january increase
telex fell 11 to 34 1 4
primary dealers are considered an elite group of firms because they are approved to purchase us treasury securities directly from the feds agent the federal reserve bank of new york investment bankers explained
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
the agency said a decline in sales and profits were little offset from the companys retail business
1986 results were restated to reflect the change
brazilian bank workers decide on national strike
the company said the agreement is subject to canadian government approval
co leads are midland bank sa and samuel montagu
the question is now do they acquiesce to gaf
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
imports were set to rise by 45 pct this year compared with four pct in 1986 in volume terms the cpb said
india will hold a buying tender on wednesday march 4 for two to three cargoes of white sugar for march april shipment traders said
standards net assets at end 1986 were 702 billion dlrs and in the year it reported a loss of 108 billion dlrs before tax and before an extraordinary item of 608 mln dlrs
i will take part in the miners negotiations because that does not force me to suspend my fast lechin told reporters
winter grains in eastern europe usually break dormancy in early april it said
pentagon officials then announced that a us guided missile destroyer began escorting two kuwaiti tankers flying the us flag southwards the 80000 tonne product carrier ocean city and 46000 tonne petroleum tanker gas king
the decision in paris is being understood by the market he said
industrial output grew 44 pct in the first quarter of 1986
he also refused to speculate on when an overall agreement might be reached
new orders for non electrical machinery were up in february by 39 pct to 166 billion dlrs after a three pct orders decline in january
to be eligible for coverage under the cccs intermediate export credit program credit terms must be in excess of three years but not more than seven years
the total of unemployed in january was 216200 against 212200 in december and 216600 in january 1986
the association backs current bills of rep
kenai ken sets note offer avoids chapter 11
morgan jpm places brazil loans on nonaccrual
most malaysian and singapore traders said the new pacts conclusion had little impact on prices and it was unlikely to allow sharp price fluctuations in future
french operators last friday requested licences to export 10500 tonnes of free market maize 11950 tonnes of free market barley and 13000 of soft wheat flour to non ec countries at prefixed daily droit commun rebates french trade sources said
allwaste inc alwso 2nd qtr feb 28
payment is due april 22
however he complained that congress had not yet approved those measures
reading rdgc to sell philadelphia properties
cable shares firm on japan speculation
finally it will ask for authorisation to issue certificates of deposit for a maximum of ten billion francs and to underwrite a similar maximum amount of certificates of deposit in all currencies
each bond of 1000 guilders nominal has five a warrants and 20 b warrants attached
we believe chryslers purchase is a logical and sound step for all concerned the union said
minimum interest rates for officially subsidised trade loans have also been revised with the aim of cutting the subsidies and ending them completely on loans to relatively rich developing countries by july next year
murray told shareholders that despite the cuts the company has promising acreage to explore as well as major oil and gas reserves to develop in the us canada europe africa and indonesia
three or four members of the 13 nation organisation of petroleum exporting countries were overproducing in an exaggerated manner above their assigned quotas he said
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
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
investment in new participations 253 billion marks vs 294 mln
nihon keizai shinbun quoting unnamed government sources said japan would tell us agriculture secretary richard lyng and us trade representative clayton yeutter of its intentions
venezuela may turn to the international monetary fund for credits as part of the countrys overall effort to reestablish financial flows from abroad finance minister manuel azpurua said today
hawkeye bancorp said it issued 2690877 shares of preference stock to its institutional creditors in payment of 323 mln dlrs of restructured debt
each goldsil shareholder will receive one share and one half warrant
castle and cooke inc said it would take a fourth quarter after tax loss of 339 mln dlrs from the previously reported sale of its flexi van container leasing business to itel corp itel for about 215 mln dlrs
bristol myers co bmy 3rd qtr net
develcon electronics ltd dlcff 2nd qtr loss
cxr telcom corp cxrl 3rd qtr march 31 net
i dont know what she said
1986 net both periods includes gain 1887000 dlrs from pension plan termination
japan ministry says open farm trade would hit us 
sumitomo is japans only nickel producer
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
intelligent systems mlp inp 3rd qtr dec 31 net
he said that as with the australian nuggets the coins would be legal tender
earlier the group had announced sharply increased pre tax profits of 1438 mln stg for calendar 1986 versus 35 mln the previous year
and as debtors and creditors prepare for their annual meeting at the inter american development bank in miami next week the regions debt crisis is clearly coming to a head
final 1986 crop us cotton ginnings
mortgage loans closed by thrifts in january totaled 152 billion dlrs down from 316 billion dlrs in december
usg corp is raising 200 mln dlrs through an offering of debentures due 2017 yielding 877 pct said lead manager salomon brothers inc
the bank said the money supply growth reflected a net increase of sight deposits and renewed interest in money market instruments
prior year net both periods includes pretax charge of 2300000 dlrs from recapitalization costs
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
greengrass said this represents an earnings per share increase of approximately 25 to 30 pct
delhi said the remaining objective of the well is the patchawarra formation
bowl america inc bwla ups payout
the order which was issued by the ninth circuit court of appeals requires western to discuss with its two unions whether westerns labor contracts will be binding for delta delta said
lindners investor group recently raised its taft stake to 1489298 shares or 162 pct from 1439498 shares or 156 pct after buying 49800 shares for a total of 58 mln dlrs
swiss unemployment falls to 09 pct in february
the non callable 13 year and 80 days bond is issued at 100419 pct
as a result foreign exchange reserves increased somewhat from their level at end 1986 he said but gave no figure
service resources corps chas
its total disbursed foreign debt is estimated by the world bank at 37 billion dlrs
there is a 1 14 pct selling concession and a 5 8 pct combined management and underwriting fee
shr loss 52 cts vs profit six cts net loss 2943000 vs profit 334000 revs 335 mln vs 185 mln year shr loss 157 dlrs vs profit 16 cts net loss 8781000 vs profit 792000 revs 1160 mln vs 565 mln
meanwhile it will sell additional quantities of gas on the spot market
the cushion of reserves allowed peru to take a hard line debt stance last year and suspend most payments due on its 143 billion dlr foreign debt
yeutter said increasing trade is one of the keys to enhanced political and economic stability around the globe he said a stronger gatt will enhance prosperity not only for advanced industrial nations but also for other countries that need to increase trade in order to better their standards of living yeutter added it was important not to risk the progress made in the israeli and canadian trade pacts by resorting to protectionism
the loan to finance imports of plant machinery and raw materials will be repaid in nine equal instalments from the seventh year
robert bretz chairman of the napms business survey committee and director of materials management at pitney bowes inc pbi said the economy ended the first quarter with a healthy if not substantial improvement bretz said the sharp rise in the growth of new orders in march assures a good beginning for the second quarter
consumer buyers were attracted by the cheaper offers traders said and by early afternoon the market had recovered to one stg down to unchanged
junichiro koizumi the head of the ldp committee working out the plan said the phrase should not be taken as implying an immediate cut in japans 25 pct discount rate
southmark sm completes acquisition
the new york times co said it had an agreement to buy the gwinnett daily news an evening newspaper published in lawrenceville ga terms were not disclosed
proceeds will be used to retire commercial paper and for general corporate purposes
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
de mel said clones in the nurseries which are susceptible to corynespora identified as ric 103 ric 52 ric 104 ric 106 ric 107 and ric 118 will be uprooted and burned
the federal home loan bank board said interest rates on both fixed rate and adjustable rate home mortgage loans were down substantially in early february
terms of the acquisition were not disclosed
burmas paddy production fell to 7294 mln baskets in fiscal year 1986 1987 to end march from 7373 mln in 1985 1986 a cabinet report to parliament said
the problem would be how to limit sales one exporter said
dome is trying to get approval for a plan to refinance debt of more than 45 billion dlrs by july 1 1987 when an interim debt plan that allowed the canadian oil and gas firm to defer substantial payments to creditors will expire
he said todays raids fall within iraqs policy to deprive iranian rulers of oil revenue used to serve their aggressive aims iraqi planes yesterday raided the nearby ardeshir oil field resuming attacks on iranian targets after a month long lull
the official described the agreement as satisfactory overall
the dollar recovered slightly from the intervention and was trading around 14500 they added
krupp says 2000 steel jobs to go this year
the foreign exchange rate was set at 21381 singapore dlrs to the us dollar
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
a decision by colombia to open coffee export registrations for an unlimited amount does not imply the country will heavily sell coffee until recently withheld gilberto arango president of the private exporters association told 
the soviets have not indicated an urgent need for a us wheat subsidy offer and it is unlikely that such an offer will be ma during the us soviet summit expected to be held next month agriculture secretary richard lyng told 
brazilian finance minister dilson funaro held separate meetings with french finance minister edouard balladur and bank of france governor jacques de larosiere on the second stage of a european mission to explain his countrys latest debt crisis french officials said
shr 83 cts vs 75 cts net 3053000 vs 2775000 assets 12 billion vs 10 billion deposits 8518 mln vs 7541 mln loans 9125 mln vs 7981 mln
the deal guaranteed by midland bank plc will pay interest based on rates of french 13 week treasury bills plus 55 basis points in the first five years and plus 65 points for the rest
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
however key monopolies in areas like steel and plastics and high tariff barriers remain in place
att also charges 40 dlrs per hour for on line usage fees with a monthly minimum of 250 dlrs
output in february was however 59 pct higher than in january
moodys may upgrade public service indianas 11 billion dlrs of debt
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
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
gabelli explains sale of gencorp gy shares
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
this means traders could quote a two way price for the bonds but would not be bound to trade them
but he added thats only an idea
cocoa talks slow at crucial stage delegates
continental corp said the fresh start provision of the tax reform act of 1986 may add 130 to 160 to 1987 earnings per share
shawmut corp shas sets regulary dividend
at the end of 1985 the bank with 138 billion baht of assets was ranked 12th among thailands 16 local commercial banks
when mr
since 1975 vietnam has resettled about three million people from cities and crowded river deltas to the zones
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
the sunday times quoted a letter sent yesterday to president corazon aquino from ariadnes chairman new zealander bruce judge that he was offering cash equivalent to five pct of the nations yearly budget to buy the shares from the government
shr 1715p vs 1237p final dividend 55p making 75p vs 62p pre tax profit 394 mln stg vs 297 mln
the closure was also a move to cut labour costs as no extra staff have to be employed during holidays to keep the plant open
resdel rsdlo san bar sbaro in merger deal
baker had said that west germany was apparently breaching the louvre accord
the payment date is may 6
the sale is the first under gelcos divestiture program and proceeds will be used to help pay down 350 mln us dlrs of debt by year end the company said
impending crop problems in argentina will likely cause those prices to rise and with the recently strong us corn futures prices the soviets might feel corn prices have bottomed and that this is a good time to buy sources said
an earlier estimate from nine month data put full year gnp and gdp growth both at 79 pct
but according to a second source who also declined to be identified poehls comments were seen by bankers present as a direct pointer to further moves by the central bank to defend german industry from an additional revaluation of the mark
a court in amsterdam ruled last week the employers had made an error in the complicated procedure for obtaining permission for the redundancies and therefore could not proceed until a final ruling on may 7
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
trading would resume again on monday
during the hiatus between the two agreements the international natural rubber council will remain in place
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
if cash hogs at the 7 markets last year averaged 61 dlrs during july that doesnt mean hogs have to be 15 dlrs cheaper this year because we have six pct more numbers he said
but volume was not particularly heavy
contract price will be quoted per hundred weight with a minimum price fluctuation of one cent and maximum fluctuation of one dlr per cwt
world seaborne iron ore imports will fall sharply by the year 2000 with declining imports to the ec and japan only partially offset by increased demand from south east asia a report by ocean shipping consultants said
corrected rexnord rex to sell railway unit
the deparment said 650 mln dlrs of government bonds mature may 1 1987
mclean industries inc said its two shipping subsidiaries united states lines inc and united states lines sa inc have agreed in principle to dispose of substantially all their remaining operating shipping assets
gold holdings at end february totalled 35203 billion lire unchanged on january
ecuadors consumer prices rise 25 pct in february
japan will invest 24 billion yen in pt indonesia asahan aluminium in addition to the 683 billion yen already invested in the company
the bank of france said it will offer seven billion francs worth of negotiable treasury bills at its next weekly tender on april 6
rjr nabisco sold 500 mln dlrs of sinking fund debentures due 2017 via lead manager shearson lehman brothers inc
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
lyng will also urge japan to put its domestic farm policies including rice on the negotiating table during gatt talks in geneva
the american soybean association asa denounced european community ec oilseed policies as illegal under the general agreement on tariffs and trade and threatened to make an unfair trade complaint if the ec does not remedy the situation
all are for august shipment at 364 dlrs a tonne cif
roeller said action on the debt situation had to be taken now
sumita says bank of japan will intervene if necessary
mobil mob to restructure exploration unit
offsetting factors included currency movements which cost the company nearly 50 mln stg
japan farm reform a key to trimming trade surplus
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
they also expected the federal funds rate to edge lower
state department officials cited concern about the safety of ships passing through the straits on the vital oil supply run to the gulf
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
japan wants governments to buy its t bills
japanese banks lend 20 billion yen to greece
the rights will expire ten years later on march 31 1987 the company said
level v wheat barley after 5 14 82 corn sorghum after 7 1 82
freight insurance proposed for ccc sales usda
market response to the italian treasurys 3000 billion lire offer of short term bills bots was mixed with six month paper oversubscribed but 12 month bills little in demand bank of italy figures show
it said reconstitution would enhance the flexibility liquidity and marketability of treasury securities
usda projected 1985 86 exports at 120 mln tonnes vs 120 mln last month
ual ual has no comment on stock rise
first boston corp acting as sole manager said it placed 294 mln dlrs of taxable power revenue bonds due 2005 of platte river power authority of colorado
according to the companies this would amount to about 4750 dlrs per uccel share based on may 29 new york stock exchange closing prices
san paolo di torino to acquire californian bank
nogales said the capital flow on bolivias debt servicing versus new credits had changed from a net outflow of 200 mln dlrs in 1985 to a net inflow of 130 mln dlrs in 1986
calmat co said it filed suit in los angeles superior court against industrial equity pacific ltd against certain of its affiliates and against ronald langley president of industrial equitys north american operations
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
indonesian palm oil production is forecast to fall about eight pct during jan may but to rise from june on
total fees of two pct comprise 1 4 pct for management 3 8 pct for underwriting and 1 3 8 pct for selling
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
the dollar traded around 14520 30 yen when trading began in the afternoon here and weakened only slightly the dealers said
oil minister vasily dinkov announced the figure on tuesday at the supreme soviet the countrys nominal parliament
the regional breakdown of unwrought aluminium production was as follows in thousands of tonnes the ipai said
the issue is available in denominations of 1000 and 1000 ecus and will be listed in luxembourg
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
bank of france sets money market tender
loans to brazil at 1986 year end totaled 474 mln dlrs according to the annual report released at the briefing
the city of quebec is issuing a 40 mln canadian dlr nine pct bond due april 1 1997 at 100 1 2 pct sole lead manager societe generale said
comalco said the aluminium industry continues to suffer from low prices and excess capacity though the weak australian dollar had helped earnings
wtd industries inc said its offer to buy the bankrupt harris pine sawmill in pendleton oregon was rejected by the bankruptcy court trustee
frances caecl issues three billion franc bond
however that is the normal wording and we expect the hague court to refer questions on the interpretation and application of the levy to the european court of justice in luxembourg pex added
in the past two days dome management has been pressured by the federal government to select the offer from transcanada the only canadian company in the bidding
they said the sunflower maize soybean and sorghum crops were damaged and yield estimates affected
the company formerly known as general tire and rubber co also has a tire business rose estimated would be worth five to 10 dlrs per share
for the first 11 months of 1986 soviet imports totalled 512 mln tonnes against 430 mln in the same period of 1985
but he said that because of the amenities of living in san francisco he was the envy of many chief executives in other metropolitan area
the lvi group inc said it will file with the securities and exchange commission a registration statement covering 30 mln dlrs of a new issue of a convertible exchangeable preferred stock of the company
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
conable said the decline in world oil prices and the rise in the value of the japanese yen had increased the ratio by reducing indonesian exports and raising its debt repayments
the new convention attempts to put an end to this
cyclops corp said that as it has already stated its agreements with dixons group plc are binding and dixons will not rescind or waive any provisions of the agreements
economists polled by had projected a 900 mln dlr fall in m 1 a 18 billion dlr drop in m 2 and no change in m 3
oper shr 63 cts vs 47 cts oper shr diluted 56 cts vs 38 cts oper net 3284955 vs 2176925 revs 316 mln vs 230 mln note current oper net excludes writedown of 344039 dlrs or seven cts a share on unidentified investment
fed approves chemical new york chl merger
wgerman cocoa grind up 29 pct in first quarter
he said cindasa will also ship 6000 to 7000 tonnes of spanish corn to italy in the second half of this month
the increase should result from lower disappearance as production is expected to fall to 1840 mln tonnes from 1857 mln last year he said
on an unadjusted basis total unemployment fell by 16500 in the month to end march to 692200
shr three cts vs two cts net 97224 vs 58503 rev 906368 vs 714747 avg shrs 3300000 vs 3948719
lorimar said it had been reviewing possible conflicts of interest involving the departing executives with an unnamed outside service organization
standard and poors corp said it may downgrade ecolab incs 10 mln dlrs of bbb plus subordinated debt
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
argentine crude oil production was down 108 pct in january 1987 to 1232 mln barrels from 1381 mln barrels in january 1986 yacimientos petroliferos fiscales said
it has been a number of years since m 1 has given good signs of whats going on in the economy one said
combined pre tax profit 276 mln stg vs same making 114 billion stg vs 953 mln
us said to view g 7 meeting as major success
a decision on whether to seek legislation will not be made until 1987 output numbers are known late this year he said
ims international inc imsi sets quarterly
it said the debentures will be redeemable for 109094 dlrs including accrued interest for each 1000 dlrs principal amount
dennison manufacturing dsn to sell paper unit
it said the transaction is subject to approval by its shareholders and to welsh carson obtaining up to 230 mln dlrs in debt financing
the treasury will also offer 9500 billion lire of six month bills at a base price of 9535 pct for an effective annualized net yield of 924 pct
although swett gave no gave details on the latest plan for negotiations with private foreign banks he calculated the suspension of payment to these creditors would save the government 5445 billion sucres
mitsubishi heavy industries ltd mitht mhi which began making ships and iron goods for japans military rulers 130 years ago is responding to the strong yen by redoubling its efforts to maintain its share of export markets
european community ec industry ministers today declared there is a need for a massive round of closures of steel plants to bring capacity in the 12 country bloc into reasonable balance with demand
the seven year issue has an indicated coupon of 4 1 8 to 4 5 8 pct and is priced at par
1986 net excludes tax credits of 271538 dlrs
proceeds will be used to reduce floating rate bank debt incurred in connection with the acquisition of 82 pct of sealy inc through the purchase of seven sealy licensees in december 1986 for 262 mln dlrs in cash ohio mattress said
concerning the 14th while entry may not be possible at the orange county airport in the near future dot found that the service provided at other airports in the los angeles area especially at the los angeles international airport will provide effective competition for orange county travelers in long haul markets the dot said
csp inc cspi 2nd qtr feb 28 net
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
ea viner holdings ltd said the earlier reported chapter 11 bankruptcy filing of hecks inc hex in which viner holds 408000 shares would not materially affect viners capital position or its ability to carry on its profitable brokerage business
marine midland banks inc said it is raising its prime lending rate to 7 3 4 pct from 7 1 2 pct effective immediately
it was the first drop in liabilities in a year and resulted from repayments of borrowings the bank board said
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
the increase followed a revised 04 pct rise in april
uk money market given 106 mln stg assistance
narragansett is an investment management company specializing in leveraged buyout transactions
smith and wesson is among a number of companies being sold by forstman and little after its recent acquisition of lear siegler
lending is now about one billion a year
shr 51 cts net 51 mln dlrs vs 65 mln dlrs revs 13 billion vs 11 billion nine mths shr 207 dlrs net 189 mln vs 215 mln revs 39 billion vs 33 billion note full name is shearson lehman brothers holdings inc company went public may 7 1987
shr 19 cts vs 38 cts net 397000 vs 788000 nine mths shr 80 cts vs 119 dlrs net 1674000 vs 2455000
recent us oil demand off 26 pct from year ago
a private placement recently brought the number of outstanding shares to 106 mln up from 971 mln shares on july 31 1986 the fiscal yearend
year on year total deposits rose 306 pct compared with a 263 pct increase in the december year and 345 pct rise a year ago period it said in its weekly statistical release
sierra spring water co wtr 4th qtr loss
but even uk stocks have dropped around 6000 tonnes since the start of the year
the new offer values the diversified auto parts manufacturers 2722 mln ordinary shares and 1322 mln first participating preference shares at 2022 mln dlrs
extraordinary debit 91 mln vs credit 115 mln
the average price was 9836 to give a yield of 3246 pct and lowest was 9833 giving 3314 pct the ministry said
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
us telecommunications giant american telephone and telegraph co tn which has been at the centre of the two year battle for cgct has teamed up with the dutch based philips telecommunications industrie bv a subsidiary of nv philips gloeilampenfabriek pgloas and societe anonyme de telecommunications sat to present a joint bid in association with holding company cie du midi sa mcdpp and five french investment funds
after months of haggling a proposed rescheduling agreement for mexico was struck last september during the annual meeting of the world bank and international monetary fund in washington
iowa beef processors inc said hundreds of its employees returned to work at its dakota city nebraska beef processing plant without incident
the payment date is april 2 1987
we did not expect the central bank to ease its credit grip any further a bank manager said adding that the prevailing market expectation of higher rates will remain
shr 24 cts vs 13 cts net 771000 vs 314000 revs 241 mln vs 113 mln avg shrs 3234000 vs 2426000 12 mths shr 65 cts vs 38 cts net 1983000 vs 904000 revs 715 mln vs 377 mln avg shrs 3035000 vs 2371000
the average rate of discount at todays uk treasury bill tender rose to 95195 pct from 93157 pct last week the bank of england said
middle east currency dealers meet in abu dhabi this weekend at a time of fundamental change in their business which has seen a growing volume of trade shift from the arab world to london
south korea is the second largest importer of us cotton after japan
fees for the issue include a 1 1 4 pct selling concession and a 3 4 pct combined management and underwriting fee
the division consists of four w and j sloane furniture store in los angeles and orange counties
the brazilian coffee institute today registered 14 mln 60 kilo bags of green coffee for may shipment an ibc statement said
white house and defence officials said that massing the fleet was routine and had nothing to do with the iran iraq war or irans stationing of missiles near the mouth of the gulf
a similiar survey was made when the currency fell to the previous record low of 14998 on january 19
private industry export officials have met periodically with lyng to discuss farm policies and the export situation
a stable yen would also help exporters regain some of their competitive edge just as the us economy may be starting to recover economists said
blue arrow plc said it had agreed terms to acquire a group of us companies collectively known as the richards companies which specialise in executive recruitment and management consultancy on personnel matters
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 senior debt and long term deposits to aa 2 from aaa
the fed said that business loans including acceptances fell 897 mln dlrs to 28123 billion dlrs
discounted debt can be bought by foreign investors through debt equity schemes that generate new resources for debtor economies
the debentures w issued in 1974 will be redeemed at a price equal to 100 pct of the principal amount plus accrued interest
hambrecht and three other hambrecht and quist representatives have been named to the visual board with robert m
as they have done in several sec filings concerning other companies in which they have had a stake the koethers said they reserve the right to take any actions which they deem appropriate to maximize the value of the shares but said they have no current plans about taking any action
the forecast assumes an average rate of 1485 yen to the dollar in 1987 88 compared with 160 yen in the current year
only 3839 mln dlrs of the 50 mln dlrs on offer was sold with all 27 bidding banks successfully obtaining hard currency
the astoria product line which has annual sales of about 25 mln dlrs will be manufactured and sold by ravens newly formed subsidiary astoria industries inc raven said
im convinced that congress will not go along with this american soybean association president dave haggard said
the company plans to offer 140 mln dlrs of senior subordinated discount debentures and 100 mln dlrs of subordinated debentures
takefman said new products this year which will be on the shelves for christmas include a smaller version of teddy ruxpin a talking mickey mouse toy dancing plush toys a doll with a voice activated by sound touch light and heat and talking books
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
todd said the reduction in the net worth requirement allowed for the payment of the preferred dividend and prevented it from violating covenants of its credit agreement
britain must decide whether it wants to follow the us or throw in its lot with europe dunn said
acme precision acl sets holder vote on buyout
were still more or less on track for a hard landing but the agony may be fairly drawn out marris told 
this was in the hope of resolving the row before the next council meeting on april 15
smith expects the company to earn 825 to 850 dlrs a share in 1987 as compared to the 706 dlrs a share earned last year
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
allegheny international said the agreement calls for the first boston affiliate to start a cash tender offer for all outstanding shares of alleghenys common cumulative preferred and convertible preferred
weve been trading in a state of total panic at times today said another
but that cost will be more than offset by an extraordinary gain of about 60 mln stg on allied lyons sale of its 249 pct interest in australian brewers castlemaine toohey he said
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
the average price of mexicos crude oil exports in first quarter 1987 will be 1525 dlrs per barrel according to preliminary figures issued in a press release by the state oil company petroleos mexicanos pemex it gave no direct comparison with the year ago figure but said crude and products sales were expected to rise to 199 billion dlrs this quarter 420 mln dlrs higher than expected and 22 pct better than the year ago quarter
it was all very tentative
terms of the facility have also been amended
woodwards ltd wdsato 1st qtr may 2 loss
the dividend is equal to the companys previous semi annual payout
emerson electric co said it will issue about 56 mln dlrs us 1855 pct notes due 1989
shr 26 cts vs 18 cts net 879000 vs 615000 revs 6394000 vs 5561000
use of soy products dropped 72 pct to 289 mln tonnes it added
shr 52 cts vs 41 cts net 4921601 vs 3157070 revs 358 mln vs 317 mln avg shrs 8939955 vs 7600000 nine mths shr 52 cts vs 34 cts net 4604406 vs 2585621 revs 360 mln vs 321 mln avg shrs 8939955 vs 7600000
the letter said villagers in most seriously affected districts had been deprived of any means of subsistence because subsidiary crops had also failed
it said home savings had assets of 1506 mln dlrs in assets and interwest had assets of 3429 mln dlrs
qtr ended nov 30 shr loss nil vs profit nil net loss 1321940 vs profit 128164 revs 4582260 vs 5115456
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
equity markets dropped sharply on the news touching a days low of 17667 on the ftse 100 index after the data before staging a recovery
final terms will be set on or before april 15
economists polled by said that m 1 would be anywhere from unchanged to up five billion dlrs
the two carriers serve five point in common los angeles san diego san francico phoenix and tucsonm the agency said
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
at that rate they would have been of little use for a political party expecting to call an election in june
mcivor said that of the some 30000 oil fields discovered so far only 37 one one thousandth of the total number contained about 35 pct of all the oil ever discovered mcivor said in response to a question that he did not believe there were any more super giants or oil fields with reserves greater than five billion barrels to be found which would change the conclusion of the worlds growing dependency
qtly div ten cts vs ten cts pay april 1 record march 9
sales in 1986 87 are seen at 2150 billion yen down from 2685 billion a year ago
gulf resources gre sees 1st qtr pretax profit
rio de janeiro dockers strike over wages
it said it signed a letter of intent to buy liberty bank of pensacola in april
he declined to reveal the amount of the proposal citing a confidentiality agreement between the two companies
us bancorp usbco has acquisition approval
in his explanation walters said the united states took defensive action in response to an iranian attack against american ships in the gulf
they say they must pay the price to bring over the best people needed to back up their push into japans increasingly lucrative markets
swedish unemployment steady in march
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
the cla would then report back to the commerce ministry which had requested the enquiry
we understand that the us position was more inflexible than the one of brazil where current economic and political factors make it difficult to adopt certain positions gaviria told in an interview
what is happening is not yet giving way to a pattern and so there is no reason to modify anything in 1985 the latest year for which full figures are available central and south american nations produced 28 mln tonnes raw value of sugar of which 123 mln were exported
shr 29 cts vs 16 cts net 610000 vs 329000 sales 6714000 vs 4582000
speaking to reporters after announcing a lower export registration price or reintegro of 110 dlr per lb ex dock new york gaviria said export mechanisms would be more agile
in addition chase manhattan will be able to place commercial paper as agents for issuers and advise them on rates and maturities of proposed issues just as bankers trust was given authority to do
ccc accepts export bonus for wheat to sri lanka
asked if the united states should consider increasing interest rates to support the dollar he said if there is a need for changes in relative interest rates it doesnt need to be a rise in interest rates in the united states lawson said there was some concern expressed in yesterdays meetings at the slow progress the united states had made in reducing its budget deficit
the march index base 1982 was 1097 against 1095 in february
mobil plans to open office in peking
k mart km march sales show increase
shr 11 cts vs 13 cts net 1037690 vs 1270460 sales 101 mln vs 9215836 six mths shr 25 cts vs 31 cts net 2319376 vs 2930507 sales 212 mln vs 189 mln
daily transactions in the london yen cash bond market now stand at 200 to 300 billion yen but the extent of investor linked transactions is unknown securities bond managers said
it also made outright purchases comprising 326 mln stg of bank bills in band one at 10 3 8 pct 15 mln stg of bank bills in band two at 10 5 16 pct and two mln stg of local authority bills in band one at 10 3 8 pct
it is a major arms supplier to iraq but has also sought broader contacts with iran in the last year
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
pay n pak said the second proposal is structured as a merger in which each holder would receive a combination of 1750 dlrs in cash and 250 dlrs in liquidation value of 13 1 2 pct cumulative preferred
but it also led to a severe and steady fall in living standards for zaires 35 mln population fuelling widespread discontent among poorer city dwellers diplomats said
alaska air group alk to offer stock
1985 restated
murakhovsky who is also chairman of the state agro industrial committee gosagroprom told a news conference he had discussed a variety of possible deals with french companies rhone poulenc pechiney and imec
sucralose is a chlorinated derivative of ordinary sugar
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
us officials said they held out little hope the european community ec would withdraw a controversial meat inspection requirement due to go into effect april 30 and which us meat producers claim will cut off their exports
the department said an increase in the merchandise trade deficit during the fourth quarter to 384 billion dlrs from 371 billion dlrs in the third quarter was the main reason for the worsening deficit
total exports dropped to 250 billion dlrs last year against 297 billion in 1985
the us and malaysia say their exports would also be hit by the proposed tax and they may take retaliatory action if it is approved
louis joint stock life insurance company bought their combined 1261000 minstar common shares for investment purposes only
avx said a syndicate managed by shearson lehman brothers inc will underwrite the offering
strong winds and high seas today closed alexandria egypts biggest port and an oil pipeline terminal nearby officials said
scotts hospitality acquires capital food
texaco canada last changed its crude oil postings on feb 19
wednesday borrowings were 14 billion dlrs as federal funds averaged a high 645 pct
ali said the problem of price differentials between the prices of various opec crudes had not been dealt with properly at the meeting
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
analysts estimated that computerland whose 800 stores generated 14 billion dlrs in sales last year would fetch 150 mln dlrs to 250 mln dlrs
chronar crnr closes 20 mln dlr placement
shr profit 47 cts vs profit 178 dlrs net profit 16 mln vs profit 53 mln avg shrs 277 mln vs 274 mln nine mths shr loss 2251 dlrs vs profit 578 dlrs net loss 610 mln vs profit 168 mln avg shrs 2176 mln vs 273 mln assets 3314 billion vs 3389 billion deposits 2201 billion vs 1986 billion loans 2176 billion vs 2270 billion note net includes loan loss provisions of 40 mln dlrs vs 48 mln dlrs in quarter and 748 mln dlrs vs 217 mln dlrs in nine mths
he gave no more details
us minerals usmxo commissions new gold mine
the governor said the six major industrial nations are expected to review last months pact on currency stability when they meet next in april
during the 1985 86 season imports totaled only 13 mln tonnes of us corn out of a total of 36 mln tonnes
du plessis said the banks were showing much more confidence in the south african economy and country as a whole
all other terms remain the same
as to whether it will be done in the future it will be done according to the evolution of the situation he said many people including foreign businessmen had raised objections to the plan to abolish the certificates and added it is rather complicated the fecs were introduced in 1980 for use by foreigners in china
london grain freights
money dealers estimated todays money market shortage at 11 to 1125 billion guilders barely changed from yesterday
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
iis intelligent information systems ltd said it has received received and completed delivery on an order worth over 700000 dlrs to supply textron incs bell helicopter textron inc unit with leased international business machines corp ibm 3270 and 3191 plug compatible work stations and printers
ny traders say turkey made large sugar purchase
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
earlier toshiba information systems uk ltd said it wanted to enter the british business facsimile and key telephone market
fernandez said he saw no merit in arguments by some economists that the peso currently pegged at 2050 to the dollar ought to be devalued to make the countrys exports more competitive
however the plan unveiled by senior federation of economic organizations official fumio watanabe does not specify what stake cable and wireless would have
monsod the governments chief economic planner stressed manilas policy was growth before debt
the eep export enhancement program is pretty obviously one of the things they the exporters want to talk about but they havent any agenda as far as i know lyngs aide said
the talks were of a casual nature he said
the proposal will be used as the basis for a more detailed ldp economic package to cut the trade surplus with the us the party is expected to formalise the package before april 19 when ldp general council chairman shintaro abe visits washington
hall fbh offers new service
the st lawrence seaway and the welland canal linking lakes erie and ontario were expected to open as scheduled on march 31 and april 1 respectively a st lawrence seaway official said
soviet charterers reappeared in the timecharter sector and secured a 30000 tonner from savona for a trans atlantic round trip at 4450 dlrs daily and a 31000 tonner from antwerp hamburg for a similar voyage at 4250 dlrs daily
operating profit in the fourth quarter for all of the companys operations on a consolidated basis before corporate and interest expense and taxes was 181 mln dlrs against a loss of three mln dlrs in the 1985 quarter
year to date figures will not become available until march 26 when eias petroleum supply monthly data for january 1987 becomes available the agency said
they said sudan will export corn sesame peanuts spices and cow hides while jordan will export cement tomato puree chemicals and pharmaceuticals
convertible currencies totalled 18467 billion lire up from 14899 billion in january while european currency unit ecu holdings were 10156 billion lire against 10133 billion
new england electric system nes five mths net
seagram co ltd year shr 445 dlrs vs 344 dlrs
rmj is the holding company of rmj securities one of the largest us government securities brokers
gencorp also has a pending agreement to sell wor tv in secaucus nj to mca inc for 387 mln dlrs
delta dal completes western air wal buy
the average wholesale price related inflation stood at 52 pct in march this year against 51 pct a year ago the ministry said in a statement
the agency noted in its final order that psa operates exclusively in the west and mexico while usair serves the west for the most part with some long haul flights from the east and midwest
bank of japan already purchased one billion dlrs in morning intervention dealers
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
bryn mawr bank corp bmtc ups dividend
but seng said the cut will not benefit consumers or us meat exporters because of japans rigid and complicated distribution system and strict supply control by the lipc
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
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
qtly div 25 cts vs 20 cts prior pay april 21 reord march 27
french government sets terms of bimp sale
paboojian rolms president will continue to report to ibm senior vice president allen j
nordson ndsn sets 3 for 2 split
last month theodore cross offered to acquire harper and row for 34 dlrs per share but was soon outbid by harcourt brace jovanovich inc which offered 50 dlrs per share
group has 52 pct of distributed logic dlogo 
in 1987 we must reduce the rate of growth in public sector investments we must reduce the public sector deficit as a percentage of gnp and we must achieve a very visible improvement in the current account deficit he said
the index base 1980 equals 100 registered 1728 in january compared with 1709 in december
the two week strike comes as brazil faces a debt crisis and is delaying exports badly needed to earn foreign exchange
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
first federal of michigan ffom 1st qtr net
uk exports body gets new executive director
the minister said ending restrictions on imports of cars and dropping 50 pct sales tax on small cars would not harm the economy
it said the group was sold october 15 for 135 mln dlrs to maxtec international corp a privately held company created by the companys management team
in addition fleet and norstar have each granted the other an option to purchase such number of authorized buy unissued shares of common stock that will constitute 2499 pct of the fully diluted shares outstanding
us exporters report 150000 tonnes of barley sold to saudi arabia for 1987 88 usda
they anticipated a concerted effort to prop up the dollar and restrain the yen via a mixture of open market intervention and public comments
it based these forecasts due to the addition of schrader automotive inc and maremont corp both acquired last year
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
allis chalmers corp said it expects cash proceeds from the proposed sale of its solids processing equipment and minerals systems businesses to exceed 90 mln dlrs with no material gain or loss anticipated from the planned sale
the second priority is to maintain an acceptable level of foreign exchange reserves to provide the stability and confidence needed by the government to meet foreign commitments rifai said jordans outstanding government guaranteed and commercial loans total 902 mln dinars with a debt service ratio of 149 pct
bank of china buys share in luxembourg company
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
the western creditor governments and kuwait agreed on march 31 to refinance 475 mln dlrs of yugoslavias debt due in 1987 and 1988
although att will maintain its current dividend olson said the company wants to decrease the percentage of earnings paid in dividends by increasing earnings
he estimated it could take about 60 days to build
allied products corp adp year net
a versar spokesman said he was unable to divulge any further information
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
it said the rights will also not become exercisable if the company is acquired by a group under an agreement made with its board
merrill mandated for iel us note
such an agreement would have to have both us and ec backing and industrialised countries would have to see it as a political rather than a merely economic pact
one senior banker closely involved in brazilian debt negotiation offered qualified support for a call from funaro for a change in the structure of the advisory committee of banks which has coordinated brazilian debt since 1982
some sources were optimistic a resolution on an extension could be passed tomorrow but others suggested a special session would be convened to adopt the resolution after the association of tin producing countries meeting april 14 to 16
paribas seeking to adjust ecuador oil facility
shr 99 cts vs 125 dlrs net 418733 vs 235572 revs 2777425 vs 2024116 note 1986 shr after november 1986 600000 class a subordinate floating share issue
miyazawa would not say what specific measures major nations would take but told reporters the measures had been discussed in paris
proxmire said he intended to introduce his bill later this month and predicted the senate committee would act this spring
yields on certificates of deposit cd offered by the united arab emirates central bank were higher than last mondays offering the bank 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
f hutton investment banking firm brought a wall street perspective to the agency upon being named chairman in 1981
in addition to lloyds telexes were sent by national westminster bank plc barclays bank plc midland bank plc 27tandard chartered bank plc and royal bank of scotland plc
kpmg was created as part of the merger announced last september of peat marwick international klynveld main goerdeler to form klynveld peat marwick goerdeler
karmila said that in the short term k o p did not need additional capital funds but the issue gives us access to attractive funds
in a filing with the securities and exchange commission orion capital said the stock represents a favorable investment opportunity at current market prices in open market transactions between august 21 and october 16 an orion capital subsidiary bought 56200 twin disc common shares at 2106 dlrs to 2243 dlrs a share
the queensland government development authority is launching a 300 mln us dlr euro commercial paper program morgan guaranty ltd said as one of the dealers
black added that hollinger would also continue seeking acquisitions of daily newspapers with circulation under 25000 readers
there will be two co lead managers
a semi government body imports most of this and releases it to wholesalers or processors in line with the standard price of other beef categories in an attempt to avoid jeoparadising domestic beef prices they said
the private tender offer closes on april 16 while a 12 mln franc advertising campaign for the flotation begins on sunday
swissair swszz reported a 58 pct drop in 1986 net profit to 645 mln swiss francs and said that in line with its new flexible dividend policy it would cut its payout to 33 francs per share from 38
h robins co the drug company in bankruptcy proceedings due to litigation over its dalkon shield contraceptive device reported consolidated net earnings for the month ended january 31 of 173 mln dlrs
at least 800 mln dlrs of current excess liquidity in the system is convertible pesetas from west germany and other countries with much lower rates he said
total private and semi public authority net borrowings rose to 464 billion dlrs from 442 billion in the third quarter and 351 billion a year earlier
oper shr 59 cts vs 49 cts oper net 547 mln vs 448 mln sales 104 billion vs 9214 mln nine mths oper shr 222 dlrs vs 162 dlrs oper net 2038 mln vs 1504 mln sales 314 billion vs 287 billion avg shrs 916 mln vs 931 mln note 1986 share data restated to reflect 100 pct stock dividend distributed june 12 1987 operating net in both periods excludes additional gain of 116 mln dlrs or 13 cts a share associated with 1985 sale of formica brand products group business 1987 nine month operating net includes pre tax gain of 120 mln dlrs equal to about 13 cts a share from sale of jacqueline cochran businesses
prime minister turgut ozal in london on his way home after heart surgery in the united states is expected to receive an ecstatic welcome from thousands of turks when he returns today
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
he said importers would quickly know if licences were issued
charter co qchr to complete reorganization
safrica disclosing new arrangement for foreign debt repayment today finance ministry says
general electric corp said its first quarter results were significantly higher due to the strong results of rca which was acquired last year
standard and poors corp said it lowered the ratings on loral corps subordinated debt to bbb from a minus
us exporters report 300000 tonnes soybean meal to iraq for split delivery
renouf extends benequity holdings bh offer repeat new york march 16 renouf corp international said it has extended the expiration of its offer to pay 31 dlrs a unit to buy all outstanding units of benequity holdings a california limited partnership to march 24 from march 13
the united states and france backed by the international monetary fund want the seven to agree on ranges or norms for a limited number of economic objectives such as growth inflation monetary conditions trade balances and current account balances
nippon columbia to make bonus stock issues
wedgestone realty wdg acquisition approved
also under the plan the us would seek a world market sharing cartel with the european community and other exporting nations to share out export markets harkin said during the first of several senate agriculture subcommittee hearings examining farm programs
about 6000 miners resumed work at the grootvlei gold mine east of johannesburg after protesting the transfer of colleagues to other jobs at the same mine owners general mining union corp ltd genmj said
ameritrust amtr sells two mln shares
bastian technologies believes that with the appropriate management policies and business strategies the company can once again become profitable and maximize for all shareholders the underlying value of their company bastian said in a filing with the securities and exchange commission
underwriters for the offering were not named in the draft prospectus
the government wants to keep an extra safety margin until it sees what effect the abolition of a 44 year old wheat rationing system will have on domestic consumption
we have seen the kind of expectational forces develop i think that weve been satisfied with since our last discount rate move johnson said
yeutter on the nbc program today said the united states did not want to terminate the agreement and would drop the tariffs once japan began fulfilling the agreement
the usda cautions that reported outstanding sales are subject to modification deferral or cancellation and it is unlikely that all reported quantities will be exported
canada is responsible for 13 of the seaways 15 locks and about 85 pct of its revenues and maintenance costs
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
in its weekly petroleum status report the energy department agency said distillate demand was up 29 pct in the period to 343 mln bpd from 333 mln a year earlier
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
bankers estimate the economy measured in terms of gross domestic product gdp shrank 19 pct in real terms last year after contracting 81 pct the year before
foreign exchange dealers estimate the fed had sold two billion dlrs worth of yen from its own account to support the dollar in new york last week
interconnect capital is controlled by interconnect inc gates corp owns 648 pct of gates learjet
such expectations could mean that a shift in policy toward restriction of bank reserves is likely to get very serious consideration at the fomc meeting he said
the company said it will also grant seizer an option to buy an additional 26 mln shares during the next four years at 125 dlrs a share during the first year and 150 dlrs a share thereafter
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
cross boosts frost and sullivan frsl holdings
neoax inc noax 4th qtr
the spokesman said the seamen had signed an agreement with the state owned lloyd brasileiro company on saturday for a 120 pct salary rise
salomon said it expects the securities to receive a aa rating from standard and poors corp
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
commerce secretary malcolm baldrige has asked the white house to consider blocking the planned japanese acquisition of a major us supercomputer and semiconductor manufacturer for national security reasons us officials said
rains fell heaviest early in the week and in particularly high volume in buenos aires province cordoba la pampa and santa fe provinces
however the finance ministry statement said all the british banks had promised their participation in the loan
masse told reporters that the governments oil industry aid package is aimed at small and medium sized companies
soybean season begins june 1
since president jean claude duvalier fled haiti fourteen months ago widescale smuggling of basic goods such as cooking oil flour rice sugar and canned milk has lowered consumer prices but bankrupted several local manufacturers throwing hundreds of thousands of haitians out of work
international cocoa organization icco talks on buffer stock rules have slowed during a crucial phase of negotiations delegates said but they remained confident about prospects for reaching agreement by friday
the rise compares with a revised 148 billion mark increase in january and a 22 billion rise in february 1986
the trade data will be a deciding factor to see if the dollar has bottomed out said jim mcgroarty of discount corp
both fixed investment and private consumption were expected to ease during 1988 but would still remain strong
the national association of realtors said sales of previously owned homes rose six pct during february from january levels to a seasonally adjusted annual rate of 369 mln units
the resolution supports negotiation of a bilateral trading agreement with the united states while protecting canadian political sovereignty social programs agricultural marketing systems the auto industry and canadas cultural identity
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
education systems espc year net
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
wor tv is based in secaucus nj gencorp said
british prime minister margaret thatcher threatened to block japanese financial firms from london after the japanese placed what the british say are restrictive conditions on a bid by british firm cable and wireless to join a domestic telecommunications joint venture
canada recently imposed a permanent duty of 85 cents per bushel on us corn imports
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
the petrobras statement said the shipment of 22 mln barrels will be made by the saudis on march 24 as scheduled
hard currency foreign exchange reserves would stay at around 35 billion dlrs he said
it said a four pct decline in rural exports despite an 11 pct rise in wheat exports was more than offset by a seven pct rise in non rural exports notably minerals and fuels
blue arrow to buy us richards companies
production of lead decreased to 33619 short tons in february from 38759 short tons in january
the statement was issued as reagan sent to congress requests for one year extensions of mfn for romania hungary and china
naturally we do not want them to go back into the hands of marcos cronies pcgg sources said a compromise would end a row over a down payment of 500 mln pesos made by smcs hong kong subsidiary neptunia corp ltd in a bid to buy back the shares last year
taiwans evergreen line to go public
the february total represented a 49 pct decrease from february 1986
shr 17 cts vs 16 cts net 1019000 vs 985000 revs 7997000 vs 7492000 year shr 118 dlrs vs 64 cts net 6959000 vs 3778000 revs 365 mln vs 298 mln
its objectives would include increasing market transparency through improved statistics and undertaking activities aimed at developing the copper market and contributing to improvement of demand
total nonperforming assets were 1141 mln dlrs at march 31 up from 534 mln dlrs at december 31 and 79 mln dlrs at march 31 1986 the bank said
american soybean producers and processors are hoping the proposed ec tax on vegetable oils and fats will not be imposed but say the us is prepared to retaliate if it is introduced
this was the highest positive balance since the question was first asked more than 10 years ago the cbi said
colombia with stockpiles standing at about 10 mln bags exported a record 115 mln bags in the 1985 86 coffee year which ended last september and 113 mln in calendar 1986
british printing also charged harcourt is unlawfully coercing debenture holders to convert denbentures before the record date because harcourt may not have enough authorized common shares to honor conversion after the date
but as long as brazil sticks to its hardline position we can never bridge the gap dharyono said
champion products inc said the two for one stock split it declared february 26 will be payable april 24 to shareholders of record april one
we have to keep wages as low as possible he said
about 50 onshore and offshore exploratory wells will be drilled under the agreement and chevron will be the operator of the project and pay some costs the company said
subscription is from march 24 to 30
actual reserves rose 487 billion dlrs in may compared with aprils 28 billion increase to a total value of 3468 billion dlrs compared with 2981 billion at the end of april
georgia gulf secondary offering underway
shr 81 cts vs 57 cts net 3660273 vs 2437914 revs 285 mln vs 231 mln six mths shr 29 cts vs 12 cts net 1325755 vs 483559 revs 317 mln vs 264 mln
the facility includes options for sterling acceptances multi currency advances sterling and dollar notes via tender panels and there is also a sterling swingline
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
lead manager is bt asia ltd and syndication is expected to close on march 16
work on a second drill below 4000 meters would start soon in the bay of gabes the statement said
the formal name of the borrower is banca nazionale del lavoro london branch through the law debenture corporation plc the non callable bond is available in denominations of one mln yen and will be listed in luxembourg
the company attributed the expected loss to lower than expected sales from its laboratory and consulting business and planned major investment in its proprietary treatment technology
our goal is for a merger to occur
amsouth bancorp said it will issue about 3166000 shares of stock to acquire first tuskaloosa corp
papua new guinea png provides the most exciting new prospect in the asia pacific region for oil production energy analyst fereidun fesharaki said here
the chemical industry which relies heavily on exports was badly hit by mark appreciation in 1986 and lower turnover was mainly due to foreign exchange losses strenger said
it said each right will entitle shareholders to buy one share of common stock at an exercise price of three dlrs
us agriculture secretary richard lyng warned the ec yesterday it would face serious retaliation if it enacted the tax
us policy now is to raise the strategic reserve to 750 mln barrels from its present 500 mln to help protect the economy from an overseas embargo or a sharp price rise
seamans strike continues marines unload ships
he said inquiries into the accident which happened while the hydrocracker was not in operation were continuing
however the hard work is still to come with a couple of years of tough negotiations ahead he said
they said the central bank sold about 30 mln us dlrs
total common stock equivalents are 10763507
if they are not resumed by years end chemical said its after tax net for the whole of 1987 will be reduced by about 51 mln dlrs
blinder international enterprises inc said it will loan four mln dlrs to cattle baron inc a subsidiary of source venture capital sor the loan will be used to contruct the cattle baron casino and restaurant to be located in henderson nev the company said
argentina owing 50 billion dlrs is latin americas fourth biggest debtor
pohl said the groups average tax rate rose to 325 pct from 288 pct because of the higher profits and despite write offs on the losses of new acquisitions
last week the banks came under pressure to accept this when senior us officials endorsed it as fully consistent with treasury secretary james bakers debt strategy
it said on december 31 1986 its nonperformind brazilian outstanding debt totaled about 41 mln dlrs
hughes tool said it counted a total of 692 rigs drilling on land 74 rigs active offshore and 18 drilling in inland waters
congressional sources said the areas where congress is most likely to eventually look for budget savings are some tightening of the payment limitation rules and possible adoption of a 0 92 program for the 1988 crops of major grains
singapore petroleum co pte ltd said it will raise posted prices for its products from june 19 by one cent gallon for lpg naphtha and gasoline two cents for gas oil and by 60 cents barrel for marine diesel oil
booker plc bokll said 1987 had started well and the group had the resources to invest in its growth business both organically and by acquisition
banks total deposits are estimated at around 1000 billion rupees
ministers also called on the european commission to prepare a report on us japanese trade for july this year to enable them to take action where necessary
now however they appear increasingly willing act as principal in transactions rather than acting on behalf of their new york offices
uk feb trade deficit 224 mln stg vs deficit 527 mln in jan official
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
in addition the standstill provisions also apply to hancock fabrics after it is spun off to lucky stockholders the company said
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
they are only after attractive money one bond trader said
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
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
ico talks last month in london failed to break a deadlock over re introduction of export quotas suspended in february 1986
there is no doubt they could be used to target shipping across the strait of hormuz
zambias talks with the world bank and international monetary fund imf on a financial rescue package have run into difficulties on the issue of food subsidies an official newspaper said
page petroleum ltd year loss
four us banks are expected to receive finance ministry approval in late april to operate securities subsidiaries in japan as long as they hold no more than 50 pct of the capital bankers said
also the rating agency affirmed valeros bb minus industrial revenue bonds and b rated debentures
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
each of the five locals have separate contracts all of which expired april 30 but the main issues are similar
us oil traders said texaco incs filing for protection under the chapter 11 bankruptcy code is adding uncertainty to an already skittish oil market but opinions are divided on the impact to the market
he said jakartas willingness to move quickly after last years collapse in oil price saved indonesia from some of the difficulties now faced by other countries
us farmers who in the past have grown oats for their own use but failed to certify to the government that they had done so probably will be allowed to continue planting that crop and be eligible for corn program benefits an aide to agriculture secretary richard lyng said
the new legislation also reduces existing tax credits by 175 pct in 1987 and 35 pct in 1988 and later years it said
reagan administration officials have been saying that the impact is now beginning to show up although it has been much slower than expected
we expect this will be allowed in two or three years he said
qtly div 64 cts vs 64 cts prior pay may 15 record april 30
bloated inventories and in some cases poor management created problems
oper shr loss nil vs loss nil oper net loss 112000 vs loss 125000 revs nil vs nil avg shrs 267 mln vs 219 mln year oper shr loss two cts vs loss two cts oper net loss 450000 vs loss 503000 revs nil vs nil avg shrs 248 mln vs 208 mln note net excludes losses from discontinued oil and natural gas operations of 447 mln dlrs vs 9489000 dlrs in quarter and 923 mln dlrs vs 807 mln dlrs in year
inverness said it issued 2640000 class a convertible retractable redeemable preferred shares in exchange for the assets which include all silvertons oil and gas properties undeveloped acreage and its shares of australian subsidiary srl exploration pty ltd
and despite bp managing director david simons denial today that bp would raise the offer the analysts said that remained a distinct possibility
there are unquestionably other buyers out there added kidder peabody analyst adam f
manufacturers hanover declined to comment on the issue
mfs municipal income trust said it declared a monthly income distribution of 57 cts a share compared with 55 cts a share paid in the previous month
brazilian monthly inflation dips slightly
in january us bancorp and old national reached a definitive agreement covering the acquisition of all the stock of old national which it does not already own for 171 mln dlrs
the issue is being made to mark the 30th anniversary of the ecs founding treaty of rome this month
conrac said it would make a recommendation by april 17
the company said vernells had sales of around 30 mln dlrs in the year ended in august 1986
earlier on monday the finance ministry spokesman asked to comment on the apparent us german clash over the louvre accord went no further than quoting stoltenberg as saying he assumed monetary cooperation would continue
there was evidence deficits as a pct of gross national product were declining and would continue to drop he said
sandusky plastics inc spi sets quarterly
a senior nicaraguan official said a recent plunge in coffee prices was economically and politically disastrous for latin american coffee producing countries
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
for this reason few managers here foresee the bundesbank sacrificing its present calendar system
reef energy rfen enters pipeline agreement
a 100 mln dlr euro commercial paper program has been arranged for svenska finans international bv manufacturers hanover ltd said as one of two arranger dealers
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
amarillo never became effective for that area klopfenstein told
cdc said one prospectus covers a planned issue of units to raise up to 30 mln dlrs for subsidiary canterra energy ltds 1987 exploration spending
he also disussed problems of developing countries in general with banking and government officials in abidjan
none of the new missiles had been fired yet it added
iran is pursuing the pipeline project to protect part of its oil exports from iraqi air attacks in the gulf
the ambivalence is because any farm secondary market established in the private sector that excluded the farm credit system would put the system at a competitive disadvantage
that code should be completed within the next few weeks he said
the inland revenue estimated that the income to the treausry would be negligible in 1987 88 but could build up over time from about 20 mln stg in 1988 89 to 60 mln stg in 1990 91
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
under the program credit terms extended must be in excess of three yeras but not more than seven years
chia said that citicorp would focus its credit card marketing efforts on acceptance noting that visa and mastercard currently enjoy a two to one advantage over american express in terms of worldwide acceptance
mobil plan to open peking office china daily says
dan stevens manager of public and government affairs at texaco inc tx operator of the pipeline through its subsidiary texaco pipeline co said the company hopes repairs will begin in about five days and expects it to take several more days to complete
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
some firms laid off workers and cut bloated inventories
both companies employ fewer than 200 seamen and union leaders said the vast majority of brazils 40000 seamen were still on strike
ccc accepts bonus bid on barley to cyrpus
reports of a possible new round of interest rate cuts have further buoyed the thai stock market this week
it appears ever more likely that new discoveries elsewhere will not change this fact he said
the chase manhattan bank a unit of the chase manhattan corp cmb said it acquired a portfolio of about 190000 consumer revolving credit accounts from atlantic financial federal atlfo valued at 370 mln 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
the time has come to look at the alternatives one seasoned debt rescheduler said
the central bank is checking selling orders through banks and placing matching buy orders they said
japan economy seen growing 36 pct in 1987 88
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
zenith laboratories inc said the company will report a fourth quarter loss and the amount will be determined on completion of its year end audit
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
the company blamed the loss on the continuing depression in agriculture the discontinuance of several programs due to the passage if the 1986 tax bill and the failure to close the sale of four ranches in the california carrizo plains during the year as expected
revenues include progress receivables on long term contracts not billed to customers and reflect the proportionate elements of profit as revenues based on stage of completion of long term contracts
vlsi technology inc vlsi 1st qtr net
the latest rumors originated in tokyo traders said
the collateral for the trust includes a pool of visa credit card receivables backed by a letter of credit
unocal corp ucl rose 1 3 4 while occidental petroleum corp oxy climbed 1 1 8 to 34 3 4
a spokesman at manufacturers hanover noted that of 23 billion dlrs in loan exposure to brazil only 13 billion is subject to brazils unilateral moratorium on repayment of interest
jwp jwp sells 30 mln dlrs of notes
no figures were given for imports in the corresponding periods of 1986
in january wholesale prices rose 08 pct from december to stand 86 pct below their level in january 1986
cyacq corp an investor group bidding for cyclops corp said it amended its outstanding 9250 dlrs a share tender offer for cyclops to eliminate two conditions and modify a third one
coastal cgp sees increase in 1987 profits
coastal corp said its board will be asked to approve the companys plan to reorganize transamerican natural gas corp at its april 14 meeting
the paris agreement was aimed at stopping a further rapid fluctuation of exchange rates he said
market operators subscribed to less than half of the 3000 billion lire offer of a new type of indexed government paper figures from the bank of italy show
synar said the president is prepared to take military action to protect kuwaiti oil tankers but has been unwilling to take less dangerous equally important action to prepare our nation for the next energy crisis reagan said the us military would protect kuwaiti oilers to assure the west of a continuing supply of middle east oil increasingly being threatened by the iranian iraqi war
small rise seen in us gasoline inventories
the dividend comes after a two for one stock split effective april 10 which was approved by shareholders today
gm shares rose 3 1 2 to 79 1 8 in active trading
but he added if oil prices turn lower there will be a lot of pressure on phillips phillips shares fell as low as eight dlrs a share over the last 52 weeks with a 1987 low of 11 3 4 dlrs in 1987
private exporters concluded advance weekly sales for 79448 tonnes against 79014 the previous week
ccc credit guarantees for rice to algeria usda
such a liffe contract is expected later this year
consensus builds for world agricultural reform
ec producers have threatened to sell over 800000 tonnes of sugar to intervention stocks as a protest against ec export licensing policies
the purchase which must be approved by the federal home loan bank and the california department of savings and loans would increase american savings deposits by about 40 mln dlrs
the closing is scheduled to be concluded by march 31 it said
the department said the presidents budget proposals for 1988 1992 would cut farm program spending an additional 24 billion dlrs
malaysia is the worlds fourth largest cocoa producer
these economies can only be achieved through csr control and management of pioneer sugar it added
galveston to aquire mine property interests
kidder peabody mortgage assets trust five a unit of kidder peabody and co inc is offering 500 mln dlrs of collateralized mortgage obligations in seven classes including floating rate and inverse rate tranches
by using currency and rate swaps companies can sell debt that pays a high interest rate in a foreign currency like australian or new zealand dollars
he also declined to say whether the investment would be made by time inc or american television and communications corp a public company in which time owns a majority stake
now it is time for brazil to do likewise archer said at the opening of a national software conference
representatives of south africas standstill coordinating committee scc and its commercial bank creditors have agreed new terms covering repayments of 14 billion dlrs of debt banking sources said
mexico has temporarily suspended its debt equity swap program in a move that some bankers see as an attempt to increase pressure on reluctant foreign banks to participate in a new 77 billion dlr loan for the country
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
the decision to cut deposits was taken by the icch after consultation with the london cocoa terminal market the spokesman said
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 added that the ec continued to insist that the japanese government must boost imports and stimulate demand
nv klm royal dutch airlines klmas is absolutely not negotiating a takeover of us regional carrier air atlanta a klm spokeswoman said in a comment on an article in the leading dutch evening paper nrc handelsblad
last tax season the average cost for each return in the us amounted to 4805 dlrs and 4573 dlrs worldwide bloch said
the official said the moves were intended to balance trade between taiwan and the united states and other trading partners
audio video and citicorp cci have been tendering for all cyclops shares in a competing offer at 8000 dlrs per share but said it could raise its bid to 9250 dlrs under certain circumstances
shr 64 cts vs 40 cts net 149 mln vs 8600000 revs 4685 mln vs 4117 mln nine mths shr 264 dlrs vs 296 dlrs net 616 mln vs 670 mln revs 143 billion vs 132 billion
vessel lost in pacific was carrying lead
wilson brothers 4th qtr
zambia expects sharply reduced maize crop
the paper said in 1985 a farmer could earn up to three times more per hectare from pineapple and watermelon and up to seven times more from bananas than from sugarcane
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
the wallenbergs originally sold nobel industrier an arms and chemicals group to penser in 1984 to pay for buying volvo volv st out of two other key group companies atlas copco asts st and stora koppabergs skps st since then the wallenbergs were ousted as the largest shareholders in skf skfr st by skanska ab skbs st and frederik lundberg wrested control of incentive ab from them
bolt beranek and newman inc said it filed with the securities and exchange commission a registration statement covering a 75 mln dlr issue of convertible subordinated debentures due 2012
the figures were nonetheless higher than those for march 1986 28 mln people and 21 pct of the workforce
bilizerian said he was optimistic his offer will be accepted at a meeting of the board of directors wednesday
upon closing of the public offering the company said it expects the secured institutional financing to increase to a total of 12 mln dlrs
asked if he had advised china to borrow more francs and us dollars and less yen leveque said he had not offered any advice but added the yen and the dollar are not stable but the ecu is stable asked if his bank has lost any confidence in china after the resignation of communist party chief hu yaobang in january he said we have total confidence in the political stability in china
ec ministers will discuss strengthening ems float
amerihealth inc ahth 4th qtr loss
banca della svizzera italiana biszz said it expected business to be good again this year after 1986s 152 pct increase in net profit to 42 mln swiss francs
area for undisclosed terms
some thought a price cut unlikely while others said there was room for a further 1 4 point cut by the bank
bank of japan governor satoshi sumita said it is in japans national interest to make greater efforts to reduce its trade surplus
em warburg currently manages 15 billion dlrs in venture capital funds and its past investments have included mattel inc mat and the ingersoll newspaper chain
the company earlier reported 1986 profit rose to 1249000 dlrs or 83 cts a shares from year earlier 620000 dlrs or 41 cts a share
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
they also said they were disturbed by a draft bill before the us congress that would impose permanent quotas on textile imports and were prepared to react
nova said the minister of regional and industrial expansion michel cote ruled that union faiths purchase of the husky stake would not result in husky ceding control to a non canadian company
japans beef import quota in 1987 88 was set at 93000 tonnes against 85000 for the same period in 1986 87
gencorp said its rko general inc subsidiary completed the sale of wor tv to mca inc mca for 387 mln dlrs
the asa is confident the us congress will support its trade complaint adams said
yeutter said the problem with international trade talks was that they tended to get bogged down for years
japan to sell 200 billion yen in bills traders
qtr ended september 30
warrington sells shoe divisions
the original concession appears to have a substantial amount of gold bearing material containing about 2 grams or 6 100 ounces of gold per tonne
linear also said it is increasing its stretch film prices by six pct effective april 15
he told reporters the deposits located at four sites near the town of san ignasio contained the equivalent of 100 tonnes of gold
wright who has not hitherto concerned himself with debt is concerned about the potential for damage
the conversion price was set at 32 5 8 dlrs representing a premium of 2038 pct over yesterdays atari share close of 27 dlrs
shr 17 cts vs seven cts net 4678000 vs 1856000 revs 1105 mln vs 617 mln avg shrs 270 mln vs 250 mln
oneill said the elimination of price limits on all comex metals futures would add caution to trading since all contracts could move any distance
the full ways and means committee is to consider the bill next week and congressional sources said they expect it will be approved
brierley bids 435 dollars share for progressive
the canal is scheduled to open tomorrow
sclumberger had said that controversy surrounding the venture made it unlikely the sale could be completed any time soon
large scale measures are planned to save resources he said
for the past year the dollar in the parallel market has sold at between 25 and 100 pct above the official rate
the market is wary of being caught wrong footed by a central bank foray but is no longer mesmerized
bank of new york said the sale is expected to be completed during the second quarter
ionic holders will own about 74 pct of the outstanding stock of circuit systems it said
a statement said the firm expects to pay total dividends for 1987 of not less than 40 cents a share on the expanded capital
norcros profits advance in 1986 87
the notes have an 8 1 4 pct coupon and were priced at 99261 to yield 115 basis points more than comparable treasury securities
wti now 1700 dlrs bbl
prior years earnings per shr and average number of shrs outstanding have been restated to reflect a 3 for 2 split which became effective may 5 1987
cargo handling resumed at bangladeshs chittagong port today after 7000 workers ended their three day walk out triggered by a pay dispute port officials said
bank of france foreign assets rise latest week
the remaining 200000 tonnes will be made available in may and june
fees involve 1 1 4 pct for selling and 5 8 pct for management and underwriting combined minus 1 8 pct for the co leads
hospital and laboratory product sales in the first quarter rose 141 pct to 456 mln dlrs it said
sams a low risk high return player is he trying to build a major industrial chemical enterprise or is he trying to be an investment bank rose said
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
peat marwick kmg main hurdman to complete merger
the paper gave no further details
an ico spokesman said the session for the first time under the chairmanship of bruno caron of france will review the market situation and the operation of quotas
the agreement calls for cxr to pay to torotel 1350000 dlrs in exchange for return of a 25 mln dlr note and five mln cxr common shares valued at 17754000 mln dlrs the companies said
the company is also marketing an extended line of laser tag kits which shoot rays of light and tell you when youve hit someone
gerasimov said no date had been set for the talks which would also study the possibility of soviet technical assistance for irans oil industry
he said they have everyones attention but it must be followed by a construtive plan he said that he expected brazilian finance minister dilson funaro who he met with last week to discuss the brazilian debt suspension action to return for further discussion but did not currently have a specific meeting arranged
federal reserve board governor martha seger following approval of the proposed guidelines by the fed said she is concerned that japan was not involved in the uk us effort to draft new capital rules
exports rose 21 pct last year against 23 pct in 1985 but the finance ministry had predicted a growth of 28 pct
glickman also said that the export enhancement programs eep spending authority of 15 billion dlrs is quickly being used up and congress will have to decide whether to expand this program while making cuts in other areas
its fiscal year ends march 31 the company said
jerome kaplan and other managers
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
the flavours and fragrances firm naarden international nv acquired by anglo dutch food and detergents group unilever plc nv unas last year said net profits for 1986 fell 114 pct to 195 mln guilders
crownamerica inc crna 2nd qtr ended feb 28
under the agreement patrick will pay six dlrs per share for each bayou share with additional value being given for bayous preferred and options
new england electric system nes expects its cash construction spending to reach 205 mln dlrs this year up from 188 mln dlrs in 1986 the utility said in material distributed at an analysts meeting
humana inc hum 2nd qtr feb 28 net
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
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
total area planted with sunflower for this harvest was two to 22 mln hectares or 299 to 363 pct lower than the record 314 mln hectares planted in the 1985 86 harvest
the acquisition which is subject to board approval and a definitive agreement is expected to be concluded during may
while prices continue to rise the napm said that most purchasers do not see them as being significant
the new rules take effect immediately
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
a parliamentary motion signed by 98 mps today urged the uk government to coordinate action with the president of the united states and through the department of trade and industry to suspend all further applications from japanese communications companies for equipment approval by the british approvals board for telecommunications and all further applications from japanese financial institutions for licences until authorities in japan stopped imposing what the mps called restrictive conditions on the bid by cable and wireless plc cawll and its us and japanese partners for a stake in japans international telecommunications market
i think some western growers have decided they should be in the program for security reasons
ministry of international trade and industry miti officials later sought to downplay the significance of tamuras remark and said that his main message was that the two sides need to talk urgently about the issue
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
zccm officials are still cautious over what effects the break with the imf will have on the industrys plans
the issue carries a call option from 1993 at 102 pct declining thereafter by 1 2 percentage point per year
standard and poors said that in return for its two billion dlr investment chrysler would be receiving a business with questionable prospects
the sale of the tranche of 8 3 4 pct treasury bonds due 1997 occurred in an active bullish gilts market as downward pressure on money market rates remained intact with the bellwether three month interbank rate down 1 8 point at 10 9 7 8 pct
shutting down 12 unprofitable stores since november has effectuated cost controls and improved merchandising it said
knutson mortgage knmc sees strong second qtr
florida weekly crop report
the federal grain inspection service advisory committee will meet here monday april 13 the us agriculture department said
shultz says us products must be competitive
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
p young said it had aquired 1905 pct of the shares of sorg inc srg to facilitate a newgotiated business combination
deak buys johnson matthey commodities
qtly div 82 cts vs 76 cts prior pay may 1 record april 16
french say wheat stocks forecast no surprise
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
his comments were not discouraging but they didnt in our judgment promise any immediate action on eep an official with the wheat group said
the agreement replaced a february 1986 rescheduling accord which venezuela asked banks to revise citing a 40 pct drop in oil revenues last year
he said that at present there was virtually no sugar held in intervention stores
bermuda star bsl leases vessel
funaro said he hoped next week to travel to talk to japanese and canadian government officials
chicago board of trade cbt agricultural and financial futures markets could be in for a period of major upheaval later this year if the exchange goes ahead with planned renovation
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
shr 130 dlrs vs 185 dlrs net 100000000 vs 144000000 sales 190 billion vs 169 billion nine mths shr 501 dlrs vs 527 dlrs net 392000000 vs 410000000 sales 579 billion vs 531 billion note 1986 figures include 63 mln dlrs or 81 cts a share of net gains from facilities and businesses sold shut down or impaired and other non recurring income and expenses
the company also said that chemical sales accounted for 52 pct of its sales in 1986 down from 70 pct in 1981
the package was expected in april but debate on the budget has been delayed by an opposition boycott of parliamentary business over the proposed introduction of a sales tax
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
mellon participating mortgage trust mpmts div
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
in the tender offer blocked by the court zico offered to buy 500000 shares or about 22 pct of bancrofts outstanding stock for 30 dlrs a share
audio video affiliates ava 4th qtr jan 31 net
helmut schlesinger vice president of the west german central bank the bundesbank said in tokyo today that gnp the widest measure of a countrys economic activity fell in real terms by a seasonally adjusted 1 2 to one pct in the first quarter compared with the fourth 1986 period
the three units lost 900000 dlrs or 19 cts a share in the six months ended december 31
he said he would have been happy to have brought forward five billion marks of tax cuts now planned for january 1988 to the beginning of this year but he said the government faced political constraints getting such measures through the upper house of the west german parliament
the company said it bought best plaza shopping center in pleasanton calif for 12 mln dlrs and bristol place shopping center in santa ana calif for 164 mln dlrs
investors will pay for the bond on april 15 and the bond pays annual interest on the same day
there are plenty of objective pressures which will result in things getting back to normal again after a period of ill feeling said commerzbank ag chief economist juergen pfister
the coupon was set at four pct compared with an indication of four to 4 1 4 pct
the company said the board also authorized a special committee of outside directors to take whatever steps it deems necessary to protect the interests of spectra physics and its stockholders and to investigate all alternatives to maximize the value of the stock including talks with third parties
supply of cane in guangdong is inadequate the newspaper said
gsw inc year net
malaysia may not meet 1987 oil palm target
frances growth rate is expected to strengthen in the second half of this year after a poor first half but unemployment will worsen the organisation for economic cooperation and development oecd said
carolina said 575000 shares were subscribed for at 10 dlrs per share during its initial offering
qtly div eight cts vs five cts prior pay april 24 record april three
yugoslav power industry makes new bond issue
one x brown was traded at 1975 rupees per kg up 15 cents from last rates while other grades also showed improvements
the official international business newspaper today published chinas demands in a editorial to coincide with the visit of us secretary of state george shultz
chock full onuts chf offers debentures
there does seem to be a lot of speculation about the frailty of the bank advisory committees a us official 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
cumulative truck sales were pegged at 1096732 up from 1011029 a year ago
investor irwin jacobs said he has an investment in gillette co amounting to less than five pct of the consumer products companys stock
arvin industries inc said it will offer 150 mln dlrs of debt securities
the only buyers are bean exporters or local processors covering previously contracted commitments they added
the international cocoa organization icco moved closer to an agreement on buffer stock rules with many delegates saying they expect to reach an accord by friday
robusta coffee grades four and five are traded for prompt delivery and up to five months forward exchange officials said
rabobank stopped trading in the bond five minutes after the bourse opened but already between 200 and 300 mln guilders worth had been sold a rabobank spokesman said
volckers been saying for a long time that a dollar freefall would be extremely dangerous now hes got it said david jones economist at aubrey g
security pacific corp spc 3rd qtr net
venezuela to annouce partner for coal venture
a lower dollar would harm the us economy he noted
dome petroleum ltd dmp year loss
wojnilower sees drop in us interest rates
aancor unit sells priority subordinated notes
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
wal mart stores inc 4th qtr shr 65 cts vs 47 cts
the conference extended the term of office of fadhil al chalabi as deputy secretary general for a period of one year from october 7 1987
the company earned 119000 dlrs before a 70000 dlr tax credit on sales of 7227000 dlrs in the year ago period
european community agriculture ministers agreed to extend the 1986 87 milk and beef marketing years to the end of may belgian minister paul de keersmaeker told a news conference
his comments followed a statement by secretary of state george shultz last week urging agriculture be the highest priority item during the upcoming summit of western heads of state in venice italy
it said the new common stock will begin trading april 8 under the symbol sptnd separately spartech said its board appointed bradley buechler as president filling a vacancy
it granted 25 of the officials a severance payment of just under three times their annual compensation if they are fired after a takeover
wendys is currently embroiled in litigation brought by pepsi which holds a contract with the company analysts said
chrysler c sets stock split higher dividend
western digital corp said it intends to call for redemption on april six all of its outstanding 6 3 4 pct convertible subordinated debentures due 2011
rte corp rte buys emhart corp unit
nutone makes built in electric products for the housing market and yale makes door locks and electronic security products
lukman said qatar nigeria saudi arabia and iran had all produced in february below their opec quotas
brazil says debt crisis is world problem
florida employers insurance co flae year 1986
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
the electrolux program uses multi tranche tap notes devised by merrill lynch
sandoz corp a us subsidiary of sandoz ag is establishing a 50 mln dlr euro commercial paper cp program morgan guaranty ltd said as one of the dealers
dart said sgl representatives said the company has not received any other offer
its a question of why the official lending agencies dont finance a little bit more quickly and easily funaro told reporters at the brazilian embassy
he said tokyo had not shown willingness to open its markets to us exports
the offer expires april 9 unless extended
reckitt and colman plc pretax profits 1986 yr 14511 mln stg vs 12339 mln
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
the department said the bonus awarded was 10000 dlrs per tonne and was made to rahr malting co and will be paid in the form of commodities from the inventory stocks of the ccc
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
qtly div 12 1 2 cts vs 10 cts prior pay april 15 record march 31
because the proposal provides that future quota distribution must reflect current demand and actual supply it should also prevent under shipment of quota as countries doing so would automatically prejudice their following years quota
orders received by the machinery and plant sector 11 member companies which comprise the core area of the group rose by four mln marks last year to 69 billion krupp said
the unit produces 46000 barrels of gasoline components a day
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
codenoll technology corp codn 4th qtr loss
the fact that it has not happened yet is consistent with historical experience which teaches that domestic markets are not affected until a currency is in the final stages of its decline marris said
mannesmann managing board chairman werner dieter told the business weekly wirtschaftswoche in an interview that mannesmann wanted to invest in a us company in order to strengthen its presence on the us market
he added it was possible first city would sell more of the banks remaining 14 billion dlrs in oil related loans to raise cash
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
critics said the bill leaves the door open for continued oil shipments to south africa
proponents say a secondary market also would increase liquidity in farm lending and spread the risk of such loans
nippon light metal continues aluminium output cut
sept 30 end shr six cts vs 17 cts net 1064000 vs 2676000 revs 1446 mln vs 1294 mln avg shrs 17121000 vs 16065000 six months shr 13 cts vs 25 cts net 2167000 vs 4029000 revs 248 mln vs 2492 mln avg shrs 17121000 vs 16065000
dean foods co df 3rd qtr net
his remarks were concerned with a comprehensive economic stimulative package the government plans to adopt in the coming days
oats season begins june 1
intl hydron corp hyd 4th qtr oper net
the two chains will have a total of 151 hotels with 67000 rooms and 71000 employees it said
several hours before a regularly scheduled board of directors meeting gillette disclosed that perelman requested consent of its board for an offer of at least 4050 dlrs per share
the china based joint venture would process portland aluminium and aim to sell aluminium products to the domestic chinese market as well as for export jolly said
viermetz said he believed major nations in paris wanted to see the dollar hold within a loose range of 175 to 190 marks and 145 to 155 yen with any attempt to push the us currency lower being countered by central bank intervention
tamura corp is issuing 70 mln swiss francs of five year straight notes with a 4 3 4 pct coupon and par issue price lead manager swiss bank corp said
bankers see the suspension of central bank aid as a deliberate move to drive up kuwaiti dinar interest rates and stem a flow of funds out of the country where market nervousness is increasing over the growing tension in the gulf
the 30 mln dlr fee is among the highest set down in any tender offer agreement either in compensation for dealer manager services or for break up of the deal
the cpi rose 11 pct from december 1985 to december 1986
in 1986 emhart reported a net loss of 10 mln dlrs or 35 cts a share after a 90 mln after tax restructuring charge which realigned the companys assets
silver state mining corp ssmc 4th qtr net
a milan banker shared stadelmanns view saying he expects a dollar yen range of 140 150 in the short term
s and p cited coastals success in reducing debt and preferred stock by 390 mln dlrs last year despite weak energy prices
financial corp fin not holding buyout talks
resorts also has about 5680000 shares of outstanding class a stock
for the week as a whole the borrowing was split roughly evenly between the large regionals and the small banks
clothing shoe and vegetable prices rose in february while prices of coffee heating oil and most car fuels fell the ministry added
in its latest report on current economic conditions the fed said that economic activity in the various regions of the country ranged from uneven or steady to improving
it will also fit out the plants laboratory
guinn also said that the company is still studying whether to join an international consortium that plans to lay a transpacific telephone cable between the us and japan
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
qtly cash distribution 20 cts vs 20 cts prior pay april eight record march 27
gti corp gti 4th qtr oper net
stocks decreases and order book levels with the exception of the agro food industry improved substantially
coffee exports rose to 753 mln dlrs from 580 mln in 1985 but rubber shipments fell to 625 mln from 720 mln and tin to 1806 mln from 246 mln weekly central bank figures show
the legislation would order the commerce department to lift controls on 40 pct of goods on the restricted export list over the next three years unless other countries agree to comparable controls
he said the outlook for the medium duty truck market continues to point to little or no change
brazils gros to meet banks on trade line issue
a statement from the bank said twelve companies have already been called to sign the agreements and the process is expected to continue in the coming weeks
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
s and p cut to bb from bbb minus texas americans 65 mln dlrs of senior debt
suddenly instead of the us it is europe that is laying the golden egg said de hora
beall who was in los angeles to address a technology management conference said first quarter sales for the allen bradley unit were flat as compared to a year earlier
west german sugar production last year rose 38000 tonnes to an estimated 317 mln tonnes the agricultural ministry said
shr 137 dlrs vs 118 dlrs net 624 mln vs 537 mln sales 832 billion vs 588 billion note prior year does not include results of rca corp
franklin resources is a financial services company
venezuela sees oil stability despite gulf attack
bank reaction to iraqs rescheduling request has been one of resignation with many bankers seeing little alternative for baghdads economic planners
emery said pending the termination of pc acquisitions merger agreement pc has released purolator from an agreement not to discuss emerys acquisition proposal with emery
pipelines also transport its own gas to customers
shr 19 cts net 653000 revs 456 mln note prior results not given due to november 1986 acquisition of 56 pct stake in continuous colour coat ltd
the 80000 tonnes of french maize granted for export moved the total to 135000 tonnes since the tender opened in february this year
while gaf did not win the company it made a substantial gain on its investment in carbide
the pay date is april 30 with a short first coupon
the warning was sent in a letter from sir roy denman head of the ec delegation in washington to dan rostenkowski chairman of the house ways and means committee
in london lloyds insurance said the 162046 ton iranian tanker avaj was hit on saturday when iraq reported an earlier gulf attack
we do not view berisford as providing the long term stability we want the trade and industry secretary accepted a recommendation last week by the mmc that it block a bid by tate and lyle for s and w berisford plc and stop gruppo ferruzzi buying a majority of british sugar owned by berisford
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
wickes came to the uk unlisted securities market in january 1986 with a capitalisation of about 96 mln stg
the system calls on the agency to buy beef from trading houses and simultaneously sell it to users in one tender
us personal income rose 02 pct in may
he added takeovers and mergers had an important role to play in furthering economies of scale integration and more efficient market penetration
sorghum was harvested on 23 to 25 pct of the area sown in cordoba santa fe and chaco
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
it is not uncommon for companies which are aware that they or their officers are the targets of government probes to acknowledge the existence of the otherwise secret investigations to fulfill their legal disclosure requirements to their shareholders
manila which has not made any principal repayments since 1983 wants terms better than the 20 year repayments at 13 16 percentage point over libor offered in october to mexico in a 77 billion dlr rescue
clabir corp clg 4th qtr jan 31 net
it said the new company was formed by senior management of the three railway product units and kleinwort benson group of london
the company said the increase brings its posting for west texas intermediate to 1900 dlrs a barrel
the index has been updated o reflect 1982 84 consumption patterns previously the index was based on 1972 73 patterns
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
harcourt brace jovanovich inc said it has told harper and row publishers inc representatives that it intends to withdraw its proposal to acquire harper and row for 50 dlrs per share in cash if the parties have not made satisfactory progress in discussions by the close of business on march 30
in addition to the funds raised in capital markets the fslic would receive another five billion dlrs in assessments on financial institutions belonging the fund
calendar year exports for 1986 were also lower at 669 mln tonnes against 721 mln in 1985 the lowest level since 1980s 619 mln tonnes the figures show
if the ico does agree on quotas the price of coffee on the supermarket shelf is not likely to change sinnificantly as a result industry sources said
the company said it continues to experience negative cash flow
oper shr loss 21 cts vs loss 95 cts oper net loss 666000 vs loss 2184000 avg shrs 3181805 vs 2310200 year oper shr loss 30 cts vs loss 23 cts oper net loss 823000 vs loss 606000 avg shrs 2757040 vs 2614225 note net excludes realized investment gains of 666000 dlrs vs 289000 dlrs in quarter and 2274000 dlrs vs 1468000 dlrs in year
his program has to be discussed and approved by parliament by early november
it would be naive to suggest that any agreement would not have some share of connivance but i think the voluntary system seemed to suffice and coupled with the fact that we have so much coffee i dont think that it poses that much of a threat one trader said
some 650 mln drls of outstanding debt is affected
analysts said the deal could net csr as much as three mln dlrs for every dollar rise in the oil price above 20 dlrs
company went public in december 1986
dudley taft taft vice chairman and narragansett capital inc said they sent a letter to the taft board stating they were committed to pursuing acquisition of the broadcast company and were prepared to negotiate a transaction in excess of 150 dlrs per share
but attempts to keep the depreciation going by talking the dollar down posed problems
cullen frost cfbi to omit dividend
dnc international issues 10 billion yen bond
the government has charged that the strike by the miners union crippled by massive layoffs is part of a left wing destabilisation plan to coincide with the visit of west german president richard von weizsaecker who arrives on a four day official tour on friday
a proposal by two us house democrats to target government farm benefits to small and medium sized farms was warmly received by democrats on a house subcommittee today
nipsco said it has not paid a qtly dividend since december 1985 following an adverse decision by the indiana supreme court denying amortization of about 191 mln dlrs nipsco invested in its bailly n 1 project
gross sales were 593 billion francs after 851 billion and net turnover 565 billion after 800 billion
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
noting it has has asked for a rehearing on the denial ruling columbia gas said it would withdraw its alternative filing if the commission grantes its request for a rehearing to include the contract renegotiation costs in its pga or consolidates this issue in the pipelines general rate filing and permit recovery subject to refund effective april one
icco to examine buffer stock details tomorrow
ual ual may respond to pilots today
shareholders are due to vote april 2 on a shareholders rights plan designed to thwart hostile takeovers
the trail smelter about 400 miles east of vancouver produced 240000 long tons of zinc and 110000 long tons of lead last year
the new issue is for payment on march 31 and coupon payments annually on august 11 with the first coupon a long coupon
news of the meeting which took place in frankfurt in great secrecy came after the dollar fell sharply on criticism by baker of west german monetary policy which had provoked fears that the louvre pact on currency stability was in jeopardy
although good flowering had followed the onset of rains in mid february subsequent pod setting was dissappointing
s africa mine managers face charges in disaster
guarantee gfcc units debt on s p watch
analysts said it also raises bps visibility ahead of the british governments announced disposal of 317 pct of bp stock
japan us set to begin high level trade talks
first granite bancorp inc said it agreed in principle to become a wholly owned subsidiary of magna group inc magi under terms of the agreement first granite shareholders will receive 2175 shares of magna for each first granite share held
yeutter says budget cut key to better us trade
earlier american express and shearson said they were subpoenaed by the securities and exchange commission
in fact he could be said to be actively depressing it one company spokesman said
defense secretary caspar weinberger on sunday declined to discuss specifics but said the united states would do whatever was necessary to keep the gulf shipping open in the face of new iranian anti ship missiles in the region
the semiconductor industry association urged the us government to impose trade sanctions against japan for violating the us japan semiconductor trade agreement
greenspan says there is evidence dollar has bottomed out
takashi ishihara chairman of the japan committee for economic development said the accord will not prevent the yen from rising further
bank of france leaves intervention rate unchanged
warner communications inc wci 3rd qtr net
brent to buy lonrho division proposes rights
it also reported that inflation as measured by the gnp price deflator remained in check growing a moderate 07 pct in the period the lowest rise in 19 years
a shareholder group led by new york investor robert toussie told the securities and exchange commission it sold off most of its holdings in hecks inc common stock but reserved the right to again seek control of the company in the future
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
the mint said that firms in submitting their offers select to receive payment by standard check or be wire transfer
the five year non callable bullet bond is for payment on march 24 and coupon payments are annually on march 25
sales in the united states totaled about three billion dlrs ici executives said
the company said marshall who had been executive vice president of new york toy company playtime will have responsibility for the distribution of toys and bushnell will concentrate on research and development and licensing
trade estimates of the coming may september temporao harvest in brazils main cocoa growing state of bahia are now in the 15 mln to 20 mln 60 kilo bag range against 20 mln to 25 mln two weeks ago
other western embassies in moscow said they had discontinued laboratory testing of soviet food late last year because no abnormal radiation levels were detected
branch corp bnch 1st qtr net
lead underwriters are american express cos axp shearson lehman brothers inc and donaldson lufin and jenrette securities corp will be lead underwriters
ford motor credit co a unit of ford motor co is raising 200 mln dlrs via an offering of notes due 1997 yielding 813 pct said sole manager salomon brothers
in australia areas of queenslands coastal strip have received less than half the normal rainfall during the current wet season but prospects for increased rains are diminishing as the rainy season draws to an end
brokers said the market was steady early this morning but began to slip marginally by late morning as rumours of a new issue circulated
trigon exploration co inc operated the well from june 1979 to january 1981 for d
canadian golds have been the top performing index this year he noted
the talks come after brazils interest rate moratorium and an uncompromising stand by the countrys finance minister dilson funaro after talks with western leaders
all in all the bundesbank in no way abandoned its money supply policy with the january discount rate cut despite suppositions to the contrary mueller said
mannesmann said in january it hoped to take a 375 pct stake in fichtels holding company sachs ag in the first quarter
we think an upturn in us drilling is imminent said james crandall an analyst with salomon brothers inc
federal resources said it will search for additional acquisitions including but not limited to specialty retailers
first sarasota holders approve acquisitions
but analysts said the writedown only impacts domes balance sheet and does not hurt the companys cash position
manila wants to pay the london interbank offered rate in cash and to issue pins in respect of the margin above libor
in order to reverse the decline in coffee production the government has decided to plant 20000 hectares with high yielding arabica and canephora varieties the sources said
the yen sector edged slightly firmer and one new straight deal was launched a 20 billion yen bond for frances caisse nationale des telecommunications
after that its a question of absorbing and juggling around
the usda probably will accept about 80 to 90 pct of the acres submitted they 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
shr 50 cts vs 40 cts net 9421000 vs 9312000 rev 377 mln vs 363 mln avg shrs 17049920 vs 21173570 note per share results adjusted for two for one common stock split in june 1986
canada banks could see pressure on brazil loans
each bond of 5000 francs carries a detachable warrant entitling the bearer to 2486 nzi shares
kaske said domestic orders rose to 102 billion marks in the first five months of this year or nine pct above their level in the same 1985 86 period boosted in particular by orders for the fully owned kraftwerk union ag subsidiary
unocal ucl plans increase in capital spending
although the mackay burdekin crop outlook is much better than it was there will be some cane losses the spokesman said
june july lower mississippi river memphis cairo offered at 120 pct no bids
the credit is the first foreign commercial loan raised by oil
hankes added that the national pork producers council will work to save farmers and keep credit available but not to save or create any one credit system
shadowfax resources ltd shfxf year loss
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
spartech said the debenture offering will be underwritten by kidder peabody and co
while the companys operating record has been successful s and p said the action also reflected uncertainties and risks associated with managements new business and investment strategies
it also indicated it planned to allow the release of another 30000 tonnes from april 23
this brought consumption back down to the december 1986 level it added
allied research associates inc arai year net
i tend to go along with the double top scenario said northern futures analyst eileen rico
obviously the marine industry is not getting any better he said
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
kleinwort benson lonsdale plc kblll year 1986
roberts urged kay to convey to top officials of the usda that some in congress favor a wheat eep to moscow
the average forecast called for a 300 mln dlr m 1 rise
markets in effect are less confident than governments that these measures including us budget deficit cuts agreed by congress and the white house will be carried out
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
port officials said they would meet association leaders today to try to resolve the dispute
study group urges increased us oil reserves
us officials in washington said the us doubts the fund would be able to fulfil its objectives citing the lack of widespread support
shr loss one ct vs profit 15 cts net loss 10863 vs profit 176344 revs 672073 vs 766066 year shr loss seven cts vs loss one ct net loss 77804 vs loss 16627 revs 1717810 vs 1317402
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
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
it said world consumption was continuing to rise
payment date is may 5
in january prices had fallen 08 pct against the same month a year earlier
balance sheet total 4867 billion marks vs 4901 billion
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
according to the plan japan will also strive to solve specific trade problems with other nations and will encourage flows of funds to developing countries the officials said
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 following import levies for white and raw sugar are effective tomorrow in european currency units ecu per 100 kilos
but the test came this week with the dollar falling below 181 marks and 150 yen
hudsons bay co year oper shr profit 32 cts vs loss 123 dlrs
mercantile bankshares corp mrbko 3rd qtr net
the central bank bought dollars through tokyo brokers just before and after the market opening the dealers said
canandaigua wine co inc cdga 2nd qtr net
holdings of average daily reserves over the first seven days of april stood at 596 billion marks still above the estimated 51 billion required for all of april
that incident is still being investigated the spokesman said
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
in february total volume on the exchange reached a record 122819 contracts surpassing the previous monthly record of 116767 set in september
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
mitsubishi chemical industries ltd mcitt year
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
perkin elmer corp said it acquired atomika technische physik based in munich west germany a high technology concern specializing in surface science instruments
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
jp morgan and co inc said that brazils recent suspension of interest payments on part of its commercial bank debt may lift its nonaccrual loans this year
until the initial stock distribution takes place regular dividend payments will be maintained on the existing preferred shares the bank said
investor group puts pressure on gencorp gy 
but sources said foreign demand for the new federal government loan stock was slack as sentiment grows that the dollar may now rise against the mark
shr profit 32 cts vs profit nine cts net profit 413000 vs profit 63000 avg shrs 1278360 vs 728476 nine mths shr profit 68 cts vs loss 57 cts net profit 708000 vs loss 415000 avg shrs 1041697 vs 728476
hernandez grisanti said he understood ecuador would formally submit the request for a higher quota at the next ministerial conference of the organization of petroleum exporting countries opec opening december 9 in vienna
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 loan supported program hopes to reduce the extensive public sector involvement in the countrys energy production and supply the bank said
in a statement issued after that meeting ec foreign ministers deplored japans continued trade imbalance and appealed for a greater japanese effort to open up its markets
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
it said orbis management will remain in place for at least three years
1986 net excludes tax credits of 1295000 dlrs in quarter and 2712000 dlrs in year
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
he said the window depends more on supply than on foreign exchange or interest rate risk at least for the moment
el paso electric elpa to buy back bonds
its going to be a routine meeting an update of what has been happening in the market but its unlikely any major decisions are taken cardenas told journalists
firs 87 88 ec beet sugar estimate unchanged 1263 mln tonnes white equivalent
companies will henceforth be able to own stakes in banks but these should not constitute a dominant holding an italian government committee ruled
japan to ask chip makers to slash output further
bolivia to offer to buy back bank debt
the rigid plastics are used in such things as telephones computer terminals and appliances
under the proposal banks would sell the dollar denominated pins at a discount to multinational firms which would convert them into pesos at face value to fund government approved equity investments in the philippines
shad sees progress on insider trading
long 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 183 183 194 194 yield lbs 5358 5358 5168 5168 start stks 493 493 377 377 production 978 978 1004 1004 ttl supply 1486 1486 1401 1401 note starting stocks does not include broken kernels supply minus use does not equal ending stocks in breakdowns
saudi arabia is likely to remain the key supplier of liquefied petroleum gas lpg to japan for at least the next five years oil industry sources said
one was shipped last month and two others will be shipped in june it said
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
the seaway authority said a walkout tying up ships on the great lakes would badly hurt traffic
firmer crude oil prices government aid packages and corporate spending cuts will help canadas oil industry recover from last year sharp downturn industry analysts said
healthmate reported a loss for the year of 1512534 dlrs or 17 cts a share on revenues of 14 mln dlrs
indonesia hurt by the fall in oil prices last year which cut the value of its crude exports in half is the third worlds sixth largest debtor
jc penney jcp up on smith barney opinion
in early tokyo trade levels were firm at 1730 dlrs for mideast dubai cargoes loading next month and 1900 dlrs for uk brent traders said
british telecommunications plcs btyl profit growth prospects for the coming years will be reduced by increasing competition and continued costs for replacing old telephone systems deputy chairman graeme odgers said
there will be no change in the estimating program for california oranges
money market dealers said the total amount allocated was in line with expectations and would be sufficient to cover the money market shortage for the duration of the facility
under the agreement announced last month ferruzzi acquired all the equity and assumed subordinated term debt of about 195 mln dlrs in a trction valued at about 370 mln dlrs
prime minister branko mikulic warned in february that wages were too high given the level of productivity
prices will also firm in the short term because some 370000 tonnes of rubber held in inra buffer stock will not be liquidated with a new pact in sight they said
the 10 pct rise in the minimum wage is recommended by the employers confederation of the philippines ecop the ecop proposal would push the year on year inflation rate to 116 pct in december compared with the predicted 144 pct if the governments recommendation is implemented solita said
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
nynex corp said it is raising its quarterly dividend to 95 cts from 87 cts payable may 1 1987 to shareholders of record march 31
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
accordingly mulford said setting specific currency objectives and intervention to achieve those objectives would be counterproductive
liberty has total assets of 35 mln dlrs
truck production through the end of march was 403836 vehicles up from 362986 vehicles ford said
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
greeces foreign debts totalled 168 billion dlrs at end 1986 up from 152 billion at end 1985 halikias said
alusuisse bearer shares closed at 490 francs yesterday registered shares at 170 francs and the participation certificates at 4550
the imf said that jamaica had a shortfall in the year ended september 1986 due to reduced sales of bauxite alummina and travel expenditures
m 1 rose 25 pct after a 11 pct fall in december
traders said the free market turned bullish during late last year based on producer forecasts of a supply demand deficit of some 28000 29000 tonnes
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
united technologies utx debt downgraded by s p
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
minas gerais state guaxupe nil tres pontas nil
transcanada pipelines yesterday announced a 43 billion dlr canadian 322 billion us bid for all of domes assets but dome which is based in calgary alberta said it is also still talking with two other companies which it refuses to identify
it rejected bids for wheat for later shipment dates they said
other interest holders are csx corp csx and exaias resources corp
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
he declined to quantify the inventory shortage but said it was the major reason for the decline in earnings
the customers are unlikely to slash saudi term purchases in large scale when japan increases annual imports of indonesian lpg to 195 mln tonnes in early 1989 from 319000 tonnes in the year ended march 1987 the sources said
he told a news conference that the government would soon create a special bureau to expedite processing of investment applications by local and foreign investors
earlier this month representatives of us cane sugar refiners met with us agriculture department officials to request a quota increase of at least 200000 tons
however he warned future financial pressure on the industry will be severe
ifo and diw saw these investments rising by only two pct
abbey national said it cutting uk mortgage rate by 1125 pct to 1125 pct
louisiana land said blocks q4a e12c and e15b were offered to the group in which conoco has a 675 pct interest louisiana land 20 pct and orange nassau 125 pct while this group along with a consortium headed by pennzoil co pzl were offered block q5c
credit business declined in the first few weeks of the year and the interest margin was squeezed further
they noted that south africas public investment commission is an active borrower in this area of the market
it controls stocks strictly and can release less into the consumer market if stocks fall too quickly he said
alusuisse sees possible break even in 1987
habbel said the us sales decline would probably bottom out in 1987
scott instruments corp said its independent public accountants qualified the report on scotts 1986 financial statements because of its weak financial condition
us commercial paper rises 298 billion dlrs in march 11 week fed says
pier 1 imports pir amending dates on split
another said the bank still has buying orders in the market
the company said soquem is considering the offer
the move follows a similar cut to 92 from 108 dlrs a tonne announced by shell uk ltd friday also fob north sea terminals and effective june 1 until further notice
the payment date is april 30 and the issue will be listed in luxembourg
computer associates ca uccel set merger
revenue said it hopes to keep costs of compliance to a minimum
though jardine matheson will be deprived of a direct stake in the high yield hong kong land and dairy farm units it is likely to develop its own business analysts said
deputy trade representative michael smith met agriculture minister ernesto figuerras and economy minister juan sourroille on september 29 and the argentine officials said they could not narrow the differential further for 1987 88
borden bn calls 4 3 8 pct debentures
the bank of japan will keep a close watch on exchange rates in line with the paris accord he added
the bank of japan will sell tomorrow 200 billion yen of financing bills under a 50 day repurchase agreement maturing on may 2 to help absorb a projected money market surplus due largely to distribution of local allocation tax ahead of the march 31 fiscal year end money traders said
we prefer to wait until things are better prepared he told 
a and w brands inc said it completed the acquisition of vernors inc from united brands co ub in a cash and stock transaction worth valued at about 10 mln dlrs
one west german newspaper today quoted foreign currency dealers in frankfurt as speculating that the total losses from the currency affair could be as high as 15 billion marks but the vw spokesman described 480 mln marks as an upper limit vw said in a statement following todays supervisory board meeting that it had discussed the foreign currency scandal in detail and was setting up a new probe into its foreign currency activities to be carried out by an unnamed auditing company
soriano was named as one of the buyers in a bid in march 1986 for 33 mln shares controlled by ucpb
mulford urged further development of debt equity swaps as well as broader mutual funds for conversion into equity
turkey sees 15 billion dlr deficit in 1986
paperboard said balaclava enterprises ltd owned by morris belkin agreed to tender 982 pct of belkins common shares
the company said completion is expected in the second quarter
bank of british columbia 1st qtr jan 31 net
debt prognosis agreed but no cure in sight
the securities will be listed in luxembourg
endotronics said the complaint against it alleges violations of the federal securities laws in connection with statements made in the companys annual and quarterly reports
salomon said that the current exchange rate is 10362 yen to the australian dollar
ended january 31 oper shr profit 398 dlrs vs profit 435 dlrs oper net profit 1236 mln vs profit 1083 mln revs 188 billion vs 176 billion year oper shr profit 32 cts vs loss 123 dlrs oper net profit 330 mln vs loss 9055000 revs 569 billion vs 527 billion note 1986 excludes writeoff of 404 mln dlrs primarily due to investment in dome petroleum ltd dmp
another merchant banker said that a flurry of japanese acquisition activity was originally expected five years from now but that time span appeared now to be too long
about 48820 tonnes of corn from 97320 hectares valued at 1708 mln pesos have also been lost they said
last october lucky stores implimented a restructuring program that included the repurchase of 28 pct of its own common shares and reincorporation in delaware
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
dudley taft relinquished the title of president in july but continues as vice chairman of the company
boliden president kjell nilsson told a news conference the acquisition of the allis chalmers unit which he described as the worlds leading producer of equipment for the mineral processing industry would yield positive synergy effects for boliden mining metals and engineering operations
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
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
if it gets to the irving shareholders they would approve it but irving hopes the offer wont go to the shareholders said mark alpert banking analyst with bear stearns cos inc
ranco inc said shareholders at a special meeting approved a merger into siebe plc for 40 dlrs per share
the requirement for the rest of the year is now down to 950 mln nz dlrs from a predicted 175 billion
the put option will be at 125 pct to yield 87 pct
its fourth quarter net loss was 1653386 dlrs compared with 2646876 dlrs
in a report the kiel institute said west germanys export outlook has not deteriorated fundamentally despite the marks strength against the dollar and other major currencies
bond defers rights issue mulls project partners
shr 556 dlrs vs 388 dlrs net 475 mln vs 332 mln revs 2545 mln vs 2435 mln note shr after preferred dividends itt corp itt owns 100 pct of itt canada common shares
moduline international mdln 3rd qtr oper loss
japan still wants speculative dlr deals limited
the argentine grain market was quiet in the week to wednesday with prices rising slightly on increased interest in wheat millet and birdseed
buyers were awaiting the opening of brazils export registrations for may shipment which could affect prices for similar qualities they said
a further 14 billion lire loan will be made to the internal italian airline alisarda for the purchase of one md82 and the improvement of an airport on the island of sardinia
8 1 2 pct bonds due june 1 2011 at a price of 98625 pct to yield about 863 pct to maturity
in february 1987 the brazilian government citing a declining level of foreign currency reserves declared a moratorium on the payment of interest on the countrys medium and long term debt obligations
proceeds from the sale of the agricultural segment could be used to reduce graces debt standard and poors said
credit national issues 100 mln dlr eurobond
sales of all industries are predicted to rise 19 pct in the year which starts april 1 the research arm of nomura securities co said in a statement
italys february payments balance in surplus
it added however that gcc states would experience higher budget deficits this year because of needs arising from past recession and the difficulty of making fresh spending cuts
fairchild industries inc 4th qtr oper shr loss 44 cts vs loss eight cts
the borrower is an affiliate of west germanys hessische landesbank girozentral
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 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
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 131000 dlr tax credit
qtly div four cts vs four cts prior pay april 15 record march 23
ball corp bll completes acquisition of verac
the company said shareholders approved the move at the annual meeting in providence today when the company reported that its first quarter earnings rose to 385 mln dlrs or 73 cts a share from 317 mln dlrs or 60 cts a share in the first quarter 1986
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
he told a news conference ahead of the imf talks that discussions about developing country debt problems would play an important role on the agenda in washington
merry go round enterprises inc said its board declared a three for two stock split payable may one to holders of record april 17
the exchange offer covers sharons outstanding 135 pct subordinated sinking fund debentures due 2000 and its 1425 pct subordinated sinking fund debentures due 1990
rha is heading a trade mission to 37 us cities
monday after texaco confirmed that the pipeline had been closed west texas intermediate crude in the spot market and on new york mercantile exchanges energy futures complex rose 20 cts a barrel
rise technology inc rteko 1st qtr loss
dillard department stores inc dds 4th qtr net
dixons says sec moving on cyclops cyl tender
cato said the offering to be made in late april or early may is expected to raise 35 to 45 mln dlrs
as the offer for ae was not declared unconditional until december 5 it made a negligible contribution to turners 1986 results
there was some speculation that american express had also considered a total spinoff of shearson but the plan was considered highly unlikely analysts said
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
ameribanc ainvo cardinal end acquisition
delegates would not speculate on the prospects for agreement at this time
the change brings the price of light sweet crude to 2650 dlrs canadian per barrel and the price of light sour crude to 2377 dlrs canadian a barrel
real gdp will grow by up to 25 pct
but he warned of another dip to below 145 yen
he said at 46 dlrs per share heymans average cost for the companys stock would be 44 dlrs per share based on gafs current holdings
if we are going to sell our products whatever they may be wheat or anything else then we have to meet the market shultz told the board of directors for the national association of wheat growers
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
oper shr 124 dlrs vs 155 dlrs oper net 120800000 vs 150100000 revs 312 billion vs 274 billion year oper shr 262 dlrs vs 289 dlrs oper net 255000000 vs 280500000 revs 926 billion vs 826 billion note 1986 period ended february one note results exclude earnings from discontinued operations of 90 mln dlrs or nine cts a share vs 32 mln dlrs or three cts a share in the quarter and 21 mln dlrs or two cts a share vs 31 mln dlrs or three cts a share for the year 1987 earnings exclude gain on sale of b
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
pan atlantic re inc pnre 4th qtr net
meanwhile the eight billion dlr drop in the m 1 money supply announced this week was surprising much larger than expected according to kahan
yields range from 620 to 7 3 4 pct
community bank cbsi to make acquisition
uk chancellor of the exchequer nigel lawson said he wanted sterling to stay roughly where it was specifying a rate of around 290 marks and 160 dlrs
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
american express board approved nippon life purchase of shearson interest
venezuela was the leading buyer it said
senate backs us retaliation in gulf
heublein said the sale does not include mcguinnesss calona wines ltd a canadian wine company
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
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
when the government announced the sale it said it would inject permanent capital equivalent to net debt around 250 mln stg at end 1986 into the company
earnings were hit by lower sales and by the lower value of the dollar and currencies in other important markets
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
bayerische vereinsbank sells warrants on bonds
the ability of the bank to write off depreciations in credit business against profits from securities trading and earnings on the sale of stakes had been utilised as in prior years to its full extent
the companies kistler said have also decided to voluntarily sell a reed plant in singapore
analysts said although major oil companies are increasing exploration and development overseas they expect the pickup in oil services will begin in the us activity in the us is so depressed it should move up faster said vishnu sharp of goldman sachs
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
these are normally between the rates on 10 year government bonds and private corporate bonds
schering plough corp sdg 3rd qtr net
nomura urged the government to take pump priming measures to help redress trade imbalances and boost employment
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
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
all sales under the credit lines must be registered and exports completed by september 30 1987 it said
morocco is scheduled to tender april 14 for a total of 55000 tonnes of us soyoil under pl 480 for shipments from may through september private export sources said
last years beet deliveries totalled 2022 mln tonnes down 554000 tonnes from the previous year
while the treasury bond contract has been somewhat disappointing other simex contracts continue to expand fong yew meng simex assistant general manager told 
moodys also cited significant litigation against people
the us economy in march improved at a faster rate than in february with the national association of purchasing managements composite index rising to 539 pct from 519 pct the napm said
the potential for greater interest rate rises gives us concern
the sentiment in the market is bullish and i think it will continue that way as demand will go up in the third or fourth quarters subroto said
that business accounted for 196 mln dlrs of the companys 1985 revenues
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
fed funds were trading at 5 15 16 pct at the time of the indirect injection of temporary reserves dealers said
vernitron said that it currently expects the special shareholder meeting concerning the merger will be held in august
g 24 says debt crisis entering new phase
the offer would not be conditional on any minimum number of shares being tendered
china is a major copper importer
the lenders are mitsubishi bank ltd and one other japanese financial institution which the spokesman declined to name
dinkov said the soviet union would develop 38 new oil deposits in the coming year
the index for intermediate goods rose 05 pct following a sharp 09 pct rise in january
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
proceeds will be used for general corporate purposes which could include refinancing outstanding debt business acquisitions or investments
the samurai bond to be signed on on april 14 will be the first since an asian development bank issue in february
group cuts zondervan zondo stake to 38 pct
this compared with deliveries of 2438 mln tonnes in 1985 86 august july estimated 1986 87 maize deliveries were also left unchanged from onics previous forecast at the beginning of february at 991 mln tonnes against 1077 mln the previous season
hu said that instead of physical certificates having to travel back and forth at each transaction with side trips to the mas for registration the mas will maintain a computerised system for updating records in a central register
interest rate will be five pct subject to upward adjustment based on dividends paid on common shares noranda said
they will expand their operations only gradually a typical way for japanese business a foreign merchant banker also noted there are not many mega deals left to do in the united states
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
den danskes 5 3 4 1992 bond was quoted at midday on friday at 9735 65 compared with its par price and icelands 6 1 2 pct 1997 bond traded at 9725 75 against a 100 1 4 issue price
morgan grenfell and co ltd is co lead
new york bank discount window borrowings 64 mln dlrs in feb 25 week
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
shr 17 cts vs seven cts net 16600009 vs 653000 revs 210 mln vs 206 mln nine mths shr 34 cts vs 12 cts net 3320000 vs 1109000 revs 601 mln vs 574 mln note net includes loss from discontinued operations of 198000 or two cts per shr in qtr 1986 and 1425000 or 15 cts per shr in nine mths 1986
entre computer centers inc etreo 2nd qtr loss
moodys investors service inc said it downgraded 37 billion dlrs of debt of security pacific corp lead bank security pacific national bank and other units
the company which lowered the payout from 27 cts to 26 cts this current quarter said it did not know how low the payout would go
this reflected expanded factory financed rebates and discount loan programs the department said
overall indonesian output during jan sept is forecast to rise three pct to 933000 tonnes
based on the spread between the prime rate and funding costs you would ordinarily see a prime rate increase now said harold nathan economist at wells fargo bank
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
the bond is available in denominations of 10 mln yen and will be listed in london
norcen sees improvement in 1987 earnings
terms were not disclosed
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
japanese companies had used technology and quality to get where they are and are unlikely to deviate from that trend one takeover specialist said
shr 38 cts vs 28 cts net 186 mln vs 145 mln revs 5742 mln vs 4933 mln avg shrs 48602000 vs 50487000 nine months shr 85 cts vs 61 cts net 415 mln vs 328 mln revs 162 billion vs 140 billion avg shrs 48622000 vs 51670000 note 1987 results do not include september acquisiton of dennys inc
25 to force banks to concentrate on wrapping up the financing pakcage and gurria said it would resume once the first part of the six billion dlr loan that forms the core of the deal is disbursed
stifel has about 36 mln shares outstanding
p and o 1986 pretax profit 1741 mln stg vs 1256 mln
lower ratings prevailed in steel and health care it said
the bills replace maturing paper worth 3196 billion lire and subscriptions to the offer close march 10
eight mln of the banks current 113 mln shares are free shares a spokeswoman said
union miniere said the location of its interest within the pancontinental group will be decided later
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 preliminary unadjusted february index rose 06 pct from a year earlier after a 05 pct year on year rise in january the adjusted february producers shipment index base 1980 rose 07 pct to 1185 from january when it fell 07 pct from december
the company said pretax net should rise to nine to 10 mln dlrs from six mln dlrs in 1986 and rental operation revenues to 19 to 22 mln dlrs from 125 mln dlrs
standard and poors corp said it upgraded georgia pacific corps 11 billion dlrs of debt
a presidential commission that has been studying oil imports including their effect on national security is to to make its report soon the white house said
the united states dependency on foreign oil sources may reach record levels by the mid 1990s according to john h
the car sector accounted for 151 billion marks of turnover against 163 billion the year earlier it said
farm land signed up to date now totals 19488587 acres
offshore data services said a total of 419 rigs were in use worldwide and 307 were idled last week
since the last meeting was only around four months ago the next talks could still be a couple more months he said
a final dividend of 92p was proposed after a final 82p last year
the february index was 02 pct up on january
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
but the rebound was largely on short covering they said
saudis drop condition for oil sale to brazil
economists had predicted an outright purchase of securities this week to counteract a seasonal drain of reserves but many had expected the fed to buy bills instead of coupon issues
when the agreements are finalized bralornes debt structure will be modified so that debt servicing requirements match available cash flow for each of the next three years
pragma bio tech prag in nitroglycerin testing
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
toshiba and sharp together control about 40 pct of the personal computer market in the ec the sharp spokesman said
third qtr 1986 net includes extraordinary credit of 76400 dlrs or four cts a share
the staffer said that under the measures passed by the committee the secretary of defense would have more influence over decisions to keep or sell strategic stockpile materials
there is a broad agreement on the content of the policy package for a structural reform the official said
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
the survey included 15 soybean estimates and 13 corn estimates and was released in the march 16 soybean update newsletter sent to members
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
moodys investors service inc said it downgraded 50 mln dlrs of debt of florida national banks of florida inc and its lead bank florida national bank
the atpc would have produced and exported an estimated 106000 tonnes of tin in 1987 without the plan
the federal trade commission said its staff has urged the governor of georgia to veto a bill that would prohibit petroleum refiners from owning and operating retail gasoline stations
monod said metropole aimed to win a 15 to 20 pct audience share and to capture about 10 pct of the national television advertising market
shr 24 cts vs 33 cts net 347000 vs 469000 sales 165 mln vs 140 mln nine mths oper shr 93 cts vs 94 cts oper net 1327000 vs 1342000 sales 488 mln vs 345 mln note current nine mths net excludes 756000 dlr gain from termination of pension plan
however mulligan said the company could continue to meet minimum capital requirements to trade futures even if growmark pulled out
germain a proposal to deny primary dealer status to firms from countries that do not grant us firms equal access to their government debt markets might invite retaliation against us firms abroad
standard products co std raises quarterly
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
cpcs one year contract with abu dhabi expired on may 31 this year and it wants the renewed contract to begin on june 1 at the government selling price
zambian copper production rose 32 pct to 113275 tonnes in fourth quarter 1986 from 109767 in the same 1985 period but sales fell 187 pct to 119967 tonnes from 147537 zambia consolidated copper mines zccm said
other products include a recorder device which allows students to leave taped messages in each others school lockers retailing for about 60 dlrs
hardly any sectors of the economy are proving immune to the current labour unrest caused by the return of high inflation officially pegged at 33 pct for january february
semi annual div four cts vs four cts pay april 30 record april 9
taft shares climbed 19 to 151 1 2 causing arbitrageurs to say investors believe the bidders may raise their price
the scientists said more than 50 pct of the fatty acid content of the tropical oils was saturated whereas less than 20 pct of the fatty acid content of soybean oil was saturated
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
the european commission confirmed it authorised the export of 60500 tonnes of current series white sugar at a maximum rebate of 43147 european currency units ecus per 100 kilos
19
the us commodity credit corporation ccc sold 6034 short tons of 1986 crop farmers stock peanuts for domestic crushing the us agriculture department said
investment group ups stake in scandinavia scf 
the tie up is widely looked on as a lame duck because the fed was stricter than sumitomo expected said one analyst
the problem goes deep and centres on misunderstandings by both sides over the key maekawa report of april last year
cutrale and citrosuco officials were not immediately available for comment
hanson han to buy intl protein pro stock
but barring substantialy increased instabilities in developing countries bankamerica said it continues to anticipate an operating profit in 1987
german economic outlook seen fairly bright
pakistans foreign exchange reserves fall
lawson acknowledged that todays fall in interest rates were in response to his budget for fiscal 1987 88 unveiled yesterday to parliament and which set a lower target for the key public sector borrowing requirement psbr of 10 pct of gdp
vangarlem said he will definitely not extend the 1987 crop program signup saying he sees no reason to do so at this time
mannesmann ag mmwgf said it has reached a series of agreements giving it an indirect majority stake in the fichtel und sachs ag car parts group
it has asked for a renewal of offers on march 24
canadian bond rating service said chrysler credit canada short term notes are now rated a 2 high and guaranteed notes and debentures are rated b plus plus high
belgian minister sees new accord on ec oils fats
central bank president wim duisenberg has defended the move saying the bank had adjusted the rates with the most impact on the money market noting the 45 pct discount rate is at the moment not the most important dutch rate because it is already far below the market rates central bank officials say the heavy dependence on trade of the dutch economy requires a stable exchange rate and interest rate policies serve that goal
chesebroughs footwear and tennis racket businesses are also likely to be disposed of he added
he said the company had talks with home shopping network inc hsn prior to that companys public offering last year but nothing came of the talks
an argentine mission is now in the us for talks with 11 banks seeking to win an easing of repayment terms and secure the loan
central banks may succeed in slowing a trend but without accompanying policy changes they stand little chance of reversing the direction of an ever growing global market in which more than 200 billion dlrs is traded every day the sources said
of the january total 115 billion stg was advanced on bank credit cards
the ldp expects the measures to prop up the economy and lessen trade problems with the us they added
foote said terms of the agreement including price for the proposed cash transaction have not been released because they are subject to a continuing due diligence investigation
the association which comprises 106 commercial banks in east and west beirut halted trading on friday in a chaotic market after the pound crashed to four record lows in the week
the start up is three months ahead of schedule and six mln dlrs under budget the company said
while some said the west german central bank would support the dollar once it fell below 180 marks others said the bundesbank would only intervene after a fall below 175 marks or if the decline accelerated
total oilseeds crushed rose to 127 mln tonnes from 121 mln in 1985
note official results for alitalia italys national airline which is controlled by the state industrial holding company istituto per la ricostruzione industriale iri are expected to be announced at an annual shareholders meeting in april
stock market analysts said todays generally weak stock market plus unwinding of positions after heavy buying of bat shares in the run up to the results caused the fall in the share price
dna said mize will replace its current chairman donald holbrook who will remain on the board
uk may revoke japanese financial licenses
the centre said the strength of the swiss franc which has firmed sharply in recent months would continue to put pressure on swiss exporters
the company said the increased dividend will be paid on may 13 to shareholders of record april 16
it said prince a lowell mass producer of pasta and italian food sauces is expected to account for 210 mln dlrs of this total
sosnoff said he holds his caesars world stock primarily for investment purposes he also said he reserves the right to alter his intentions at any time
the agreement is subject to approval of blue arrow shareholders
the oil services industry is on the verge of a recovery because of rising crude prices oil industry analysts said
gaf has raised its offer to 48 dlrs a share cash
the mood of the congress right now is as tough on trade as ive ever seen it in six years in washington baldrige said in a television interview
he also refused to say whether gaf would consider increasing its the dollar value of its takeover offer if the initial proposal is rejected
advanced telecommunications corp said it reached an agreement in principle to purchase teltec savings communications co a long distance telephone service in florida
ohio mattress co omt offeing of 75 mln dlrs of convertible subordinated debentures due 2012 through lazard freres and co
note company has said profit will match 1985 level despite provisions of 480 mln marks connected with alleged currency fraud
he did say if he succeeds in acquiring american medical he plans to keep much of american medical management in place
thailands main paddy crop is expected to fall to 154 mln tonnes in the 1986 87 nov oct season from a previous 1568 mln estimate in november and an actual 1735 mln a year ago the thai rice mills association said
however the official said the final figure would be much less than that cited in earlier comments he gave no further details
royal gold and silver corp rgsto six mths net
santa fe southern sfx appeals merger ruling
ec agrees trade deal with argentina
bps willingness to take hard decisions such as major balance sheet write offs and the sale of assets had been well received in the markets
werner enterprises inc wern 4th qtr yr net
it planned to increase the number of flights from italy to new york to 19 per week to reinstate flights to boston and to re open the direct rome milan los angeles service
terms of the acquisition were not disclosed
the company said its propane disution natural gas spot marketing data processing oil and natural gas exploration and production natural gas gathering and underground pipe replacement businesses had sales for the year ended september 30 of about 74 mln dlrs or about 25 pct of total company sales
north central laboratories inc said it has had preliminary discussions with mikromed inc about providing laboratory testing services to screen the presence of the aids virus
the spokesman declined to say exactly how large the losses were
were not looking for a partner and if we were it certainly wouldnt be these guys northair said
the spokesman declined to elaborate
problems concerning cash bond delivery and clearing are major obstacles for an early launching at liffe said koki chiyojima deputy general manager of nikko securities co ltds bond administration division
under the original proposal which sparked strikes and other industrial action in the state on april 7 workers compensation would have been cut by one third
although the growing service industry sector has absorbed a great number of workers the trend is starting to slow down said koichi tsukihara deputy general manager of sumitomo bank ltds economics department
for september shipment the board bought 25000 tonnes from graniere at 7932 dlrs per tonne fob and for october shipment it accepted 25000 tonnes from andre and companie at 7947 dlrs per tonne fob
it said the soviet union trailed the us by seven to 12 years in advanced manufacturing technologies such as computers and microprocessors
uk officials study salmonella calf feed link
two to 22 mln hectares have been planted with sunflowers for this harvest down 299 to 363 pct from last years figure of 314 mln hectares
guardian morton shulman agrees to takeover bid
year to date demand for all petroleum products averaged 1632 mln bpd up 18 pct from 1604 mln in 1986 it said
however the tax would lower the rate on jewellery and coins to only five pct from the current 15 pct they said
bethlehem steel said its composite prices for strip mill plates will be increased 15 dlrs a ton
a source close to the management side insisted that timing was on his side
in the event that prices offered for the stock to be sold are substantially out of line with market conditions the bank will agree to take the stock onto its own books
james capel far east ltd estimates jardine mathesons 1986 profits at 450 mln dlrs and attributes most of the income to retail sales
secretary of state george shultz said today that a boost in allied forces in the mideast gulf was not vital to protect shipping against attack but that possible allied contributions should be examined
it owns 13 banks a data services company a mortgage company and a trust company serving st
the company said it locked out union workers because they threatened to disrupt operations
garnac grain co inc of new jersey received two shipments totalling 87000 tonnes at 8890 to 9229 us dlrs c and f taiwan for delivery between july 10 and august 10
they are after all paying on time all the debt service and principal on their official debts having just rescheduled with the paris club baker said in the newspaper interview
abbey national has one billion dlr euro cd pact
kidder peabody analyst herbert buchbinder expects blocks fiscal 1987 year to end april 30 to show good gains over fiscal 1986 earnings of 601 mln dlrs or 241 dlrs a share on revenues of 6067 mln dlrs
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
cineplex odeon buying coke ko cinema unit
analysts computer industry executives and the company itself have highlighted the external economic factors hampering ibms growth
participants in the meeting do not look for changes in the soybean loan to be announced in the near future
general manager liu shuxun declined to give a 1987 profit forecast saying targets were under study
birdsboro corp 4th qtr loss
average exports were 129 mln bpd down from 144 mln bpd
however sharp said that internal accounts showed the company was in profit in the first two months of 1987
this is why we increased the strategic petroleum reserve but we have to do more he said
the lower court dismissed the complaint finding antifraud provisions of securities laws do not prohibit undisclosed excessive mark ups on securities transactions
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
conagra inc cag 3rd qtr feb 22 net
commenting on 1987 amoco said acquisitions will be an integral part of our strategy should reserves become available at attractive prices the company said it expects the marketing climate for natural gas to improve in 1987 which should provide the opportunity for amoco to expand sales
austmet has recruited a group of base metal traders currently operating out of britain and the us who have handled asturianas business for the past five years it said
ibm australia credit issues aus dlr eurobond
petrol station owners said many garages had closed indefinitely today in sao paulo parana mato grosso and mato grosso do sul
bank of japan intervenes to buy dollars around 14370 yen dealers
libra is a consortium bank national westminster bank plc nwbll chase manhattan bank na cmb royal bank of canada ryto swiss bank corp sbvzz westdeutsche landesbank girozentrale welgf mitsubishi bank ltd bancomer snc banco itau sa credito italiano spa and banco espirito santo e comercial de lisboa all have shareholdings
the underwriting fee is 10 basis points bt asia said
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
the imf study also examines the course of the dollar and the curious lack of impact it has had on the us trade deficit
marcor maar expects fiscal year profit
it said through its guarantor program first union will be allowed to convert its investment quality mortgages into mortgage backed securities accepted in capital markets
primary gilts dealers need not buy at auctions
general partners told gencorp if it believed shareholders would be better served by a smaller cash price with a security representing a continuing long term interest in gencorps prospects it would be willing to discuss an alternative
benihana bnhn to build restaurant in florida
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 5057 cts per lb to be in effect through midnight april 16
the louvre agreement has been honored by the market he said
first federal savings and loan association of fort myers said its board has executed a letter of intent to acquire first presidential savings and loan association of sarasota fla for 8500000 dlrs in cash
mcdonalds corp said it is offering to buy the 25 mln dlrs in its outstanding 10 7 8 pct debentures due july 15 2015
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
lowell institution for savings lifs qtly div
the dollar closed in tokyo today at 14940 against new yorks 14930 40
s p downgrades six us money center banks
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
in its monthly report on us oil supplies and stocks api said that domestic demand for petroleum products as measured by products supplied continued to rise reaching 163 mln barrels a day in the month up 15 pct from february 1986
he added that meads pulp and paperboard businesses are operating well as prices have improved and strong demand has placed most products in a sold out position through the middle of the year
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
connery said the four pct drop in january us factory orders reinforced sentiment that first quarter economic growth will be slow
the issue is non callable for five years
we had a businesslike meeting and made good progress a banker said
youll find poeple who think we havent avoided violating agreements in a key concession made at the urging of the powerful chairman of the house ways and means committee the trade subcommittee backed off a requirement that would have forced reagan to automatically impose quotas or tariffs on imports from countries that engage in unfair trade practices
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
dotronix inc dotxo to buy video monitors 
the agreement is subject to federal and shareholder approval
but unlike a similar action in september 1986 which investment bankers said disrupted the financing the agencys rate reduction had no effect this time traders said
the bank of japan has cut its discount rate five times over the last year and a half
year ago oper excludes extraordinary gain of 121000
bastian technologies mulling cosmo csmoo bid
banctexas group inc btx 3rd qtr oper loss
a chrysler spokeswoman would not say whether some problem had cropped up in the talks
sosnoff holds about 136 pct of the companys stock
also dart said lieberman dougherty and levine are to be paid 26 mln dlrs to pay their taxes
jewelmasters inc said it expects to report net income for the year ended january 31 20 to 25 pct below analysts estimates of 1750000 dlrs or 95 cts per share
the bank had decided against raising the dividend itself because of the uncertain business outlook at the end of 1986 and developments so far this year showed that was correct christians said
the nuclear power plant located near waynesboro ga is co owned by oglethorpe power corp the municipal electric authority of georgia and the city of dalton
it may face at least one strong opponent us sprint the long distance joint venture between gte corp gte and united telecommunications inc ut we think the congress of the fcc should establish a reasonable rate of return
its a great place to run a business he added but its a hell of a place to do business with government the study concluded that chevron which mergered with gulf oil in 1984 would benefit in the long run from the restructuring activity
sumitomo chemical co ltd sucht year to dec 31
national mutual cuts australian prime to 1775 pct
the group said the federal government should preempt state regulation of defensive takeover tactics
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
the policy shift which means abandoning seouls goal of rapidly reducing its foreign debt was worked out at a series of ministerial meetings
the issue is available in denominations of 1000 and 10000 dlrs
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 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
the company is proposing to change its name at the next annual meeting to rugby group plc rugby said it spent 27 mln stg on acquisitions in 1986
us treasury proposes some s
gaf corp said the management group led by chairman samuel j
china buys malaysian rbd palm stearine
beard co bec year loss
public service co of nh pnh omits dividend
traders said some texaco debt issues fell over 30 points this morning in thin trading but recouped about half that
indian countertrade which is being promoted mainly to help narrow the countrys large trade deficit is still insignificant compared with agreements reached by indonesia venezuela and brazil the trade sources said
federal paper boards outstanding 125 mln dlrs of subordinated debt will be redeemed with the proceeds from the convertible preferred issue the agency noted
on november 5 the six exporters making up the ico board of management of the promotion fund will review its program for the 1987 88 year oct sept and items left over from 1986 87
capel cure a unit of australia and new zealand banking group ltd conducted the survey during january among 70 institutions which are not clients of that firm
listing will be in frankfurt
official prices had been effectively dropped in 1985 when members offered discounts to attract customers
combustion said the restructuring at lummus crest is expected to substantially reduce but not eliminate this year losses in the engineering and construction segment
nichols institute lab 1st qtr feb 28 net
first national corp ftnc 4th qtr
diversified human resrouces group hire year
south african m 3 april growth revised upward
adoption of stiffer capital requirements is especially significant in the eurobond markets which saw new issue volume of about 183 billion dlrs in 1986 according to figures compiled by euromoney magazine
india bought 24000 tonnes of rbd olein at tender
the bilateral accord followed a multilateral rescheduling agreement reached last september of mexicos official debt to the paris club of western creditor governments
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
this is about the same as at the begining of the year
the cattle are for delivery may 1987 october 1988 it said
the world bank african development bank european community canada belgium west germany britain sweden italy and denmark had contributed to the package he said
steel firms study usx x unit price hike
a major tax payment period by banks on behalf of customers payments for the federal railways loan stock and repayments of mark liabilities incurred by foreign central banks with the bundesbank in the framework of the european monetary system ems are likely to significantly burden the system
they told the housing program loan request is for 100 mln to 150 mln dlrs
bank debt accounts for about 70 pct of yugoslavias overall debt which stood at 197 billion dlrs at end 1986
but the ceiling on mmcs with maturities of one year or less will remain the same or 075 percentage point below the cd rates
the mmtcs recent countertrade deals include iron ore exports to yugoslavia for steel structures and rails
saudi arabian crown prince abdullah bin abdul aziz was thanked by the reagan administration for his countrys close and closed mouthed cooperation with washington in the gulf a senior us official said
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
the plan would be subject to bankruptcy court approval due to bells status as a debtor in possesion under chapter 11
rolls royce seeks 250 mln stg credit facility
japanese oil companies are starting campaigns to market 100 octane gasoline to meet growing domestic demand for higher quality motor fuel oil sources said
canterbury press inc year nov 30
trading in shares of schweizerische aluminium ag alusuisse aluzz was suspended on the zurich stock exchange after todays announcement by the company that it would cut its share capital by 50 pct the bourse said
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
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
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
soviet 1986 87 coarse grain production is estimated at 10330 mln tonnes vs 10330 mln tonnes last month
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
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
div 12 cts vs 12 cts pay april 20 record april 8 note company pays dividend of 12 cts three times annually with a bulk payment at the end of the fiscal year to equal annual dividend of 50 cts
because the number of applications and bonds returned is increasing rapidly a special office where the claims are being processed will remain open beyond the close of business until midnight on march 31 the deadline for claims to be submitted
the company said the dividend on the preferred offered by bilzerian would be set so that in the opinion his financial advisor and the companys financial advisor the preferred would trade in the public market at its liquidation value
first republicbank frbn corp 3rd qtr loss
petroleum futures rallied today in a market that was expecting declines in domestic supplies and became further unsettled by escalated mideast fighting
united financial banking ufbco 1st qtr net
cuban sugar output seen at 75 mln tonnes
ibm australia credit ltd is issuing a 75 mln australian dlr eurobond due april 24 1990 with a 14 1 8 pct coupon and priced at 101 1 4 salomon brothers international ltd said as lead manager
it said interest and principal are payable in either new zealand or us dollars
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
there is a commitment fee of 1 2 pct
the yens rise against the dollar is expected to boost japans unemployment rate to an average 33 pct in the 1987 88 fiscal year beginning april 1 from januarys record three pct the private nomura research institute said
new zealand government borrows 100 mln sterling
management of the stockpile over the last 10 years has been atrocious responsibility for stockpile management now belongs to a white house agency the federal emergency management agency
michael farren opposed language in the trade bill before congress to limit foreign takeovers of us companies
lee told the incentives to be introduced in may or june include bank loans and a reduction in capitalisation requirements for businesses seeking to invest in the us to 10 mln taiwan dlrs from 20 mln
he said britain west germany the netherlands and denmark continue to oppose the tax after the commission proposed making it temporary and promising compensation to any third countries whose exports suffered
the money market head said the unions humiliation by the protracted financial problems of the neue heimat cooperative housing venture would contribute to union obstinacy
pickens sees continued slump in working rigs
concord fabrics inc cis 2nd qtr net
there are no voting restrictions on the new shares
for the year ended november 30 gencorp earned 130 mln dlrs on sales of 310 billion dlrs
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
we are already making vast losses in surinam and you cant expect any company to remain operating with losses the spokesman said
gros said the decision which he called a standstill arrangement will be communicated to brazils 700 bank creditors by telex tomorrow
shr nine cts vs seven cts net 1356000 vs 1041000 revs 9729000 vs 8367000
usda seeks comments on grain discount schedule
agip carbone will invest 24 pct or 120 mln dlrs in the project it said
i would be willing to sell cyprus and buy phelps dodge if i were picking one copper stock he said
of this total 73 billion was raised on the public capital market
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
commonwealth energy system ces dividend
the firm named morgan stanley and co inc as lead agent of the program with merrill lynch capital markets and salomon brothers inc as co agents
the sources said the west german interest rate rises had to be seen in the context of interest rate developments worldwide
credit lyonnais is acting as coordinator for this facility
gulf applied technologies inc said it sold its subsidiaries engaged in pipeline and terminal operations for 122 mln dlrs
shr 13 cts vs 15 cts net 2193000 vs 1918000 revs 182 mln vs 152 mln note share after preferred dividends
the notes have an 8 5 8 pct coupon and were priced at 9980 to yield 145 basis points more than comparable treasury securities
the recent two and a half week engineering strike which lead to some disruption in service could well have encouraged clients to consider using the mercury system odgers said
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
the bank board said the average effective commitment rate for fixed rate mortgages for single family homes and a 25 pct loan to price ratio with a maturity of at least 15 years was 948 pct in early march
the narrow range trading is also taking its toll on trading volume he noted
japanese crushers bought 8000 tonnes of canadian rapeseed in export business overnight for april shipment trade sources said
the stripped securities consist of two classes
to the extent that its a precedent its a precedent to be encouraged buchheit a partner with cleary gottlieb steen and hamilton told a debt equity swaps conference sponsored by euromoney magazine
henry rosenberg chairman of crown central petroleum corp cnp told that unless refining and marketing return to profitability oil companies will have to rely on downstream operations to produce an acceptable level of earnings
canada january leading indicator up 04 pct
discount window borrowings in the past week were about as low as the fed can get them although fed funds held above six pct said williams of bankers trust
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
sainsburys taking control of shaws supermarkets
s
chiles consumer price index rose 17 pct in february to 56201 december 1978 equals 100 after increases of 20 pct in january and 09 pct in february 1986 the governments national statistics institute said
there is a mandatory purchase fund operating in years one and two except for the first month after the payment date whereby the eib can purchase up to five pct of the issue each year if it is trading below par
the official mti news agency said the government decided consumer price subsidies had to be cut to reduce state spending
maryland national said american security shareholders will be entitled to receive the 32 1 2 ct per share maryland national regular quarterly dividend that is payable march 31 to holders of record today
like dated interbank deposits were quoted today at 6 3 8 1 8 pct 1 8 point higher than last saturday
the current account deficit narrowed to 750 mln dlrs in february from 123 billion in january
the islands trade surplus reached a record 156 billion us dlrs last year up from 1062 billion in 1985
bankers said that mexico suspended the swap program on february 25
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
both loans will be used for development the spokesman told 
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
shr profit one cts vs profit four cts net profit 27490 vs 89687 sales 2899189 vs 2785931 nine mths shr loss four cts vs profit nine cts net loss 78038 vs profit 184062 sales 8785918 vs 8273913
british petroleum co plc bpl said it intended to make a tender offer for the 45 pct of standard oil co srdn it does not already own at 70 dlrs a share cash for a total of 74 billion if the offer is fully accepted
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
new zealand budget forecast seen as positive
tecsyn international terminates takeover talks with investor group
intermetco ltd intto six mths april 30 net
chrysler says amc holders to get chrysler stock worth four dlrs a share under buyout plan
it said shares will be mailed may 22 record may four
in a filing with the securities and exchange commission taco bell said it bought 119867 calny common shares on october 15 and 16 at 1075 dlrs a share
weak us economic growth could hurt the dollar which has become more important to the direction of debt futures than the beneficial impact on interest rates of a sluggish economy
it added that david a
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
soviet winter grains could be off to a faulty start this spring after enduring an usually dry fall and cold winter weather and crop analysts said
terms of the acquisition were mot disclosed
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 coupon on the 100 mln dlr 15 year convertible eurobond for the bank of tokyo ltd has been cut to 1 3 4 pct from the two pct initially indicated lead manager bank of tokyo international ltd said
analysts ranging from the liberal cdi to conservatives agreed the us reaction was measured reasonable and did not escalate the conflict unduly
seipp said the purchase price had been several hundred million dollars but he gave no further details
farm fresh inc ffsho 3rd qtr net
it said conditions of the proposal include obtaining necessary financing satisfactory completion of a due diligence investigation by laidlaw and execution of employment contracts with key employees to be designated by laidlaw
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
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
the company also said its independent accounts peat marwick mitchell and co served notice that its report on endotronics financial statements as of sept 30 1986 and for the year then ended should no longer be relied upon
i do anticipate a significant increase by 2000 thirty three dlrs a barrel is not unreasonable hodel told the senate energy committee
while annual maize consumption is estimated at 750000 tonnes the gmb stockpile is currently around 18 mln tonnes which means that even with the sharply reduced production this year zimbabwe has enough maize for the next three years
the economy has developed a certain self confidence that is now less dependent on the political situation said fritz haser economics professor at universidade livre lisbon
the us unit of nomura securities co ltd of japan acting as sole underwriter won a competitive issue in early december 1986
the sec has already said that other specific material changes such as changes in the percentage of securities being sought or the price being offered made during the course of a tender offer require a 10 day extension of the offer
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
earlier today cable shares firmed on market speculation that the dispute which is being treated by britains government as a test case of how open the japanese telecommunications market is was near settlement
gold analysts said the eagle is facing competition here from the canadian maple leaf and also to a lesser extent from the south african krugerrand
cyacq includes audio video affiliates inc and citicorp capital investors ltd and other investors
income from continuing operations was not immediately availalbe for the prior years second quarter in which it reported a net loss of 149 mln dlrs
the us justice department has announced that it will require divestiture of the product line for approval of the merger
dealers estimated the ems related outflow as high as six billion marks
ico talks on coffee quotas to resume at noon
oper shr 26 cts vs 16 cts oper net 948000 vs 480000 revs 254 mln vs 199 mln note excludes loss of 67 mln dlrs or 182 dlrs shr vs gain of 453000 dlrs or 15 cts from discontinued operations
continental plans to raise 125 mln dlrs through an issue of first priority secured equipment certificates due 1992 125 mln dlrs through second priority certificates due 1995 and 100 mln dlrs via third priority certificates due 1999
the stake had been acquired from telecom plus international inc
its first chairman was joseph kennedy an industrial magnate who was also the father of john kennedy later to become the nations 35th president
cash distribution 133 cts vs 84 cts prior pay april 29 record april 15
according to the merger proposal american video shareholders will receive about 287700 restricted paralax shares and warrants to buy another 318600 restricted shares at six dlrs a share
homestead financial corp hfl 3rd qtr net
amoco an raises crude prices
irving bank corp 1st qtr shr 151 dlrs vs 162 dlrs
in january the unit wage rise in manufacturing industries was 36 pct unchanged from the december rise
centurion has assets of 105 mln dlrs atlantic 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
the bank of england said it had given the money market a further 186 mln stg assistance in the afternoon session
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
partially funded with a 65 mln dlr award made through the agriculture departments targeted export assistance tea program a five year meat promotion campaign in japan was launched by the us meat export federation in april
in either case delegates said it is accepted that producers must be given a clear opportunity to make offers of cocoa for forward shipment directly to the buffer stock in a way that is competitive with spot offers made by dealers
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
it said the new survey is possible because of the new integrated nationwide survey program that uses probability sampling procedures that combine information from farmers operating in selected areas and farmers identified on special lists
the adjustment to the production forecast is due to the rains and overcast conditions which have greatly reduced the sunlight needed for this crop sources said
the commodity credit corp will depend heavily on certificates to relieve storage problems this year ralph klopfenstein deputy administrator for commodity operations usda told participants at the national grain and feed associations annual convention
the dividend is payable may 20 to shareholders of record april 20 1987 it said
jack van fossen
fauber said the sales growth came from greater consumer acceptance of k marts apparel merchandise a marked increase in hardline merchandise sales and a growing contribution from specialty retailing operations k mart said its fourth quarter pre tax income from continuing operations was 493 mln dlrs a 323 pct gain from 3726 mln dlrs last year
the proposal is subject to approval by gates learjets board
shamrock holdings unit aquires software company
but some of these gains were offset by low levels of interest rates
the critical issue is how greenspan will deal with inflation said stephen axilrod vice chairman of nikko securities co international inc and former staff director for monetary and financial policy at the fed
japanese firms are becoming more aggressive now he said
citicorp is the leading us bank credit card issuer with some 10 mln accounts and an 11 pct market share
directors of the chicago board of trade cbt decided at their regular board meeting late yesterday to submit a long term japanese government bond futures conrtact to the commodity futures trading commission cftc for approval
this brings the banks total assistance so far today to 243 mln stg
canadian imperial bank of commerce said it was lowering the interest rate on its visa credit card to 159 pct from 186 pct effective with the may billing statement
cocaine although illegal is bolivias largest export
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
treybig who founded the cupertino calif based company said he has seen a rebound in computer orders in the united states
shr 78 cts vs one dlr net 1413000 vs 1776000 assets 7053 mln vs 5973 mln deposits 4956 mln vs 4939 mln loans 2600 mln vs 3797 mln qtly div six cts vs six cts prior qtr pay april 1 record march 6 note 1986 net includes charges from accounting changes from one time expenses associated with a proxy contest and an increase in loan reserves
terms were not disclosed
the issuing centre of the swiss regional banks said it is launching two bond issues of 90 mln and 58 mln swiss francs
tomorrows surplus is attributable to excess bank holdings from sales of yen to buy dollars and to huge cash amounts to be redeposited at banks after the current financial year end today the traders said
earlier this month irving rejected the bid as inadequate and said it wanted to retain its independence
telco systems inc said its plan to distribute a dividend of common stock purchase rights to shareholders of record on march 16 has been delayed pending the completion of necessary regulatory approvals
the swiss franc rose to a fix of 120515 marks per 100 from 120180
s and p downgraded manufacturers hanovers senior debt to a from a plus subordinated debt to a minus from a and preferred stock to bbb plus from a minus but affirmed its a 1 commercial paper
the paper will be issued in denominations of 500000 and one mln dlrs
he said the actual production during the 1986 87 season november may is about 480000 tonnes barely enough to meet local consumption
the future of the us soviet long term grains agreement will be discussed the first of next year lyng said but the agriculture secretary questioned the benefits of the long standing agreement
i just dont see any proposal like that sailing through any interagency process the aide to lyng said
a drop from the present 150 dlrs per acre for the typical 5760 acre tract to 25 dlrs per acre would lower the cost of the standard tract lease to 144000 dlrs
analysts expect gasoline stocks to rise 500000 to two mln barrels above the 234 mln reported for may 22
on a fully diluted basis this was 111 dlrs vs 67 cts and 242 dlrs vs 158 dlrs respectively based on 330 mln vs 323 mln shares outstanding in quarter and 328 mln vs 321 mln in year 1986 results in both periods include pre tax losses pf 22 mln dlr on sale of john wanamaker and 250 mln dlrs related to recapitalization for a combined primary per share charge of 158 dlrs in quarter and 157 dlrs in year
the issue is guaranteed on a subordinated basis by generale bank
analysts said british petroleum might have been able to buy up the rest of standard oil for about 50 dlrs per share when oil prices were falling last year
owens illinois inc said its subsidiarys 60 dlr a share cash tender offer for all the outstanding common shares of brockway inc has been extended to midnight october 30
gaughan said that earlier this week he told representatives of the company whose identify he did not know that chartered vessels flying the us flag would be protected the newspaper reported
after the venezuelan deal was clinched leading new york bankers hurried to argue that 7 8 pct was the new benchmark spread for a debtor nation that was current on interest was not seeking new money and was amortizing loan principal
from today the price of meat will rise by an average 18 pct and that of beer and spirits by 10 pct mti said
sterling drug inc said it sold the assets of its subsidiary greene dental products inc to rinn corp of elgin ill
panganiban is quoted as saying that san miguel could tap food and liquor distribution lines in australia britain the us new zealand and hong kong through barwon farmlands ltd a listed australian firm in which it has 30 pct equity
there is a 1 1 4 pct selling concession and a 5 8 pct combined management and underwriting fee
coffee could drop to 70 80 cts cardenas says
venezuela has no plans to try to renegotiate the debt rescheduling agreement it worked out with creditor banks in february public finance director jorge marcano told 
the parent company said it signed a letter of intent to sell the stock to wasa europeiska forsakrings ab of sweden europeiske reiseforsikring a s of norway and europeiska rejseforsikrings a s of denmark
while substantial we believe the unresolved take or pay exposure will remain manageable he said in a letter to shareholders that appeared in the companys new annual report
they said the plan would dominate discussions at two day energy talks between officials of the two countries in washington from april 1
von wartenberg said the government was in a difficult position on its trade figures
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 iwc outlines three courses of action open to governments in wheat exporting countries
mcchip mcsto to acquire reserve holding
pork delegates vote on farm bill farm credit
alcoa raising prices of aluminum beverage can stock eight pct
society for savings said it will offer up to 100 mln dlrs aggregate principal amount of its medium term notes with maturities from one year up to five years from the date of issue
the central bank will have 10 days to decide whether to issue the required foreign exchange
the company now has flexibility to pursue a strategy of increasing its presence in the paper products market
tomorrows surplus is attributable to excess bank holdings from sales of yen to buy dollars and to huge cash amounts to be redeposited at banks after the current financial year end today the traders said
the philippines has reached agreement with its bank advisory committee on a debt rescheduling agreement after four weeks of talks a source close to the philippine delegation said
andersen group inc andro 1st qtr may 31
the us state department said two days ago tehran had been told of us concern that iranian anti ship missiles posed a threat to the free flow of oil from the gulf
japans unemployment rate is expected to continue to climb to about 35 pct within the next year from januarys three pct record senior economists including susumu taketomi of industrial bank of japan said
qtrly div eight cts vs eight cts prior pay june 1 record may 15
nigeria especially found its gasoline rich bonny light crude now opecs highest priced grade at 1892 dlrs a barrel was uncompetitive on the spot market against britains brent
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
former empire of carolina emp exec sentenced
a british source who declined to be identified further said the proposals could open the door to further talks between c and w cawll and the other firms involved
he said first quarter exports to hong kong and macao rose 355 pct to 248 billion dlrs and imports rose 553 pct to 146 billion
nissan motor nsany sees second half profit
la electricidad president francisco aguerrevere will meet his bank advisory committee led by morgan guaranty to explain that unless government assistance is forthcoming the company cannot meet its obligations
the china daily quoted yang jike vice governor of anhui as saying farmers could earn twice as much growing cotton as they could growing grain and three times as much growing cash crops like flax
the officials said the meeting here where the six will be joined by italy will be a status report
dharyono kertosastro said in an interview that indonesia the worlds third largest producer is trimming costs and improving its marketing while seeking a compromise on quotas
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
shr 17 cts vs 10 cts net 22 mln vs 13 mln sales 406 mln vs 326 mln
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
if we stick to the production limitation the third quarter will be in better balance he said the market is in a period of transition while the impact of opecs december agreement to cut output and fix prices at an average 18 dlrs a barrel is worked through
honeywell bull sees revenue growth
a takeover battle began today for debt burdened dome petroleum ltd dmpmo as transcanada pipelines ltd trpto announced a 43 billion dlr offer and dome said it is continuing talks with other possible buyers
bayou also reported net loss of three cts or 23024 dlrs for the fourth quarter compared with a net income of 10128 dlrs or one cts a year
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
indias trade deficit is provisionally estimated at 5834 billion rupees in the first 10 months of fiscal 1986 87 ending march compared with 7062 billion in the year ago period the commerce ministry said
charterers are considering combining contracted shipments because of inadequate space shipping sources said noting 13 raws cargoes are awaiting shipment from various ports
however miyazawa failed to outline the size of the japanese economic package in his meeting with baker today because the japanese 1987 88 budget has not been authorized by the diet or parliament despite the new fiscal year which started april one the officials said
the company said that its 1986 performance was best reflected by earnings after writeoffs which rose to 310 mln from 221 mln in 1985
varity corp earlier reporting a full year loss against a prior year profit said improvement is expected in the balance of fiscal 1987 as new products fill the inventory pipeline cutbacks in operating costs are realized and its newly acquired dayton walther business is fully integrated
shr profit one cts vs loss three cts net profit 68607 vs loss 183893 revs 42 mln vs 602665
the new long term note for 19 mln dlrs was primarily the balloon portion of a 41 mln dlrs loan agreement signed in february 1985 as part of a chapter 11 reorganization plan
arrays aray completes merger
union faith is equally owned by hutchison whampoa ltd and hong kong electric holdings ltd under the agreement with union faith husky will become a private company with union faith and nova each holding 43 pct of its stock
he said teams had already been to south korea and taiwan to encourage direct use of the exchange while a delegation would also visit europe mexico and some latin american states to encourage participation
bally bly seen selling off health unit
the trail smelter produced 240000 long tons of zinc and 110000 long tons of lead last year
its just disguised cheating one japanese trader said
canada declined to state a position
inflation for the 12 months ending february 1987 was 255 pct compared to 130 pct for the 12 months ending february 1986
deliveries of hard red winter wheat will have laydays of june 20 30 for 5000 7000 tonnes july 15 25 for 6500 8500 tonnes and september 15 25 for 7000 9000 tonnes
net profit 890 mln luxembourg francs vs 112 billion
the preferred shares are convertible to the same number of common shares following hart scott rodino and fdic approvals
huttons offer was topped today by a 40 dlr per share bid for 83 pct of the stock from emery air frieght corp eaf
these cutbacks were due in part to buyer resistance to fixed prices introduced from february 1 particularly for fixed volumes over an extended period
savannah electric and power co sav ups dividend
the soviet buying follows recent whites buying by india turkey and libya as well as possible raws offtake by china
non north sea corporation tax is forecast to bring in 135 billion stg in 1987 88 after the revised 112 billion in 1986 87 and vat revenue should amount to 233 billion compared with upwardly revised estimated 215 billion this fiscal year
britain had a visible trade deficit of 26 billion stg in the fourth quarter of 1986 against a revised deficit of 29 billion in the third quarter official statistics show
gross domestic product grew by nearly nine pct last year against an initial government projection of 45 pct
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
sosnoff said the talks had not been actively pursued since they were announced march 20 but it had been agreed that unless the discussions were formally terminated pratt and southmark would not initiate a competing tender offer for caesars world or take any other action that would hamper sosnoffs current offer to acquire all caesars shares he does not now own for 28 dlrs each
yesterday arcos stock jumped as much as five points on rumors it was spinning off the chemical operations
also resource said it will provide service work to complete the wells and it will operate the wells after they are completed
qtly div 25 cts vs 25 cts prior pay april 13 record april six
magellan corp said it has entered into a letter of intent to acquire balzac investments inc in a transaction that will result in former balzac shareholders owning about 83 pct of the combined company
a spokesman for the company said the trustee who has yet to be named will also look into the conflict of interest problems that have arisen during the proceedings
the limit at the other end of the scale is set at 11450
the mexicans themselves have been angered by the delays
one agriculture ministry source said the study so far was based on the years 1979 81
the contract unveiled at a press conference is expected to make the 300 billion dlr a year swap market more efficient he said
the dollar subsequently hovered at 14755 65 yen
nashua nsh to purchase private disc maker
union carbide uk unit to buy back notes
bnp said that if all the warrants were utilised the total of the january 1987 issue would rise to 85 billion francs
one of them sitting astride the rostam offshore oilfield was all but blown out of the water by us warships on monday
it the debt problem is not a happy development but i think it can be overplayed in terms of its impact crow told reporters
bullion rose to 40940 90 dlrs from an initial low of 40890 40940
qtly div 25 cts vs 25 cts previously pay april 17 record march 30
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
ec grants export licences 197000 tonnes free market maize zero barley paris traders
gencorp inc said its board took no action with respect to a two pct stock dividend at its annual meeting yesterday due to the press of other business specifically the companys pending takeover offer by general acquisition corp formed by afg industries inc and wagner and brown
hard red spring wheat accounts for most acreage with 60 mln estimated for this year little changed from last year
analysts believe mondays wall street crash wiped out about 500 billion dlrs in stock values
australia has said it is not setting any export quota
brazil the major producer insists on quotas based on a traditional formula
the possibility that recent indonesian palm oil purchases will not actually enter the country but be transshipped to other countries to fulfill indonesias export orders cannot be ruled out it said
included in the sale were chemetron railway products true temper railway appliances inc and allegheny axle co the company said
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
harcourt canadas us parent harcourt brace jovanovich inc hbj indirectly acquired the canadian book publishing companies when it purchased holt rinehart and winston from cbs inc cbs last october
y includes ill
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
the meeting is also part of preparations for a full scale conference of the general agreement on tariffs and trade gatt in venice in june
collins foods international inc said that on april 30 it will redeem all of its outstanding 12 pct subordinated debentures due december 15 2008
marris felt that a major impetus for the dollars latest weakness was the loss of credibility that central banks suffered when they failed to prevent the dollar from falling below 150 yen the floor that the market believes was set as part of the g 7 paris agreement in february
industrial equity pacific added it is considering launching a tender offer for calmat stock or making a merger proposal to the company but said it has not decided whether it will pursue a calmat acquisition on a non negotiated basis
ef hutton group inc said it has started its previously announced offer to purchase up to 6332471 common shares of purolator courier corp at 35 dlrs each
brown group inc bg 1st qtr may 2 net
texstyrene corp said it has suspended quarterly cash dividend payments on its 95 pct convertible exchangeable preferred stock
amoskeag bank said it signed an agreement to acquire entrepo financial resources inc a philadelphia based company which leases and remarkets high technology equipment
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
it said the agreement covers 76 stores in 21 states including inventory and fixtures
news that next years public sector borrowing requirement will be held at 40 billion stg from an earlier projected 70 billion was influential for fixed rate stg investment markets
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
he named them as us protectionist behaviour curbs on technology transfer and out of date trade legislation
trade minister saleh said on monday that indonesia as the worlds second largest producer of natural rubber should expand its rubber marketing effort and he hoped development of the exchange would help this
unilateral intervention itself cannot ensure currency stability but it can be useful when coordinated with other policies and with other central banks he said
cacex denies brazil fcoj price rise rumours
guilford mills said it expects the issue will be offered later this month
the value of the rupiah is set daily against a basket of currencies by the central bank
ccc preparing wheat catalogue
unadjusted m 2 plus cds stood at an average 343600 billion yen in march compared with 336015 billion in february
all legitimate debt is a commitment of honour the president said during a visit to the quake zone
the bonds will be listed on stock exchanges in basle berne geneva lausanne and zurich
some analysts argued that to solve the semiconductor problem japan may have to take action beyond that pledged in the semiconductor pact
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
brae corp brae 3rd qtr dec 31 loss
bond corp still considering atlas mining bail out
great northern nekoosa gnn announces split
but even beyond swap related activity dealers said the nature of trading in london has changed
australias broad money supply rose 103 pct in the year ended january up from a revised 96 pct in december the reserve bank said
financing was provided by prudential insurance co of america and affiliates
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
because it was a voluntary deal many bankers feel strongly that the orginal terms must be adhered to
because the securities never mature there is no way to price them properly unless there is a liquid two way market for them
construction of the plants which are a major item in the current five year plan will begin soon
the state treasury issues government paper with a maturity of up to one year
west german gross fishmeal imports rose 60260 tonnes or 146 pct last year to 471891 tonnes the highest level since 1972 trade sources said
this compared with a deficit of 13 billion in january 1986 the bank said
the coins will be legal tender in belgium but most demand is expected to come from coin collectors
we expect the same performance in net income over the next five years as we have had in the past ziering said
a sinking fund beginning in 1998 to retire annually five pct of the debentures can be increased by 200 pct at the companys option
it said preliminary figures show total sales of 258 mln dlrs up 30 pct from 198 mln dlrs in its 1985 fiscal year
american said richard d
he said one reason for the devaluation was that hungary had a higher rate of inflation over the past two years than its main partners around eight pct in 1985 and between five and 55 pct in 1986 this was partly an after effect of action hungary took to prevent inflation from soaring during the oil price shocks of the 1970s he added
the house was to vote today on a bill supported by the democratic and republican congressional leadership and the administration which demanded a report within seven days on plans to meet the security needs of us forces in the gulf
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
on the value of the dollar volcker said he could not say whether it should be higher or lower to restore balance in trade
la caisse centrale desjardins du quebec is issuing a 10 billion yen eurobond due april 7 1994 paying five pct and priced at 102 3 8 pct yamaichi international europe ltd said as joint book runner for the deal
prime minister brian mulroney said he held frank discussions with the canadian province premiers on the pace of free trade talks with the united states but the longstanding issue of provincial ratification remains to be settled
analysts expect foothill to record earnings of 65 cts to 85 cts a share in 1987
brazil on february 20 suspended interest payments on 68 billion dlrs of its debts to commercial banks
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
st
wessanen now has 15 separate businesses in the us out of a total of 62 world wide
parent investment in fixed assets 960 mln marks vs 831 mln
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
fluorocarbon fcbno completes acquisition
previously pakistan has met its trade gap largely from remittances from its nationals working abroad mainly in the gulf
the pgrt cut helped brake the steep profit and cash flow decline in 1986 for many oil companies and prevented further exploration spending cuts analysts said
that was down from an earlier preliminary 13 pct rise estimated a month ago and down from the 21 pct rise in the fourth quarter of 1985
barker
the delegations leader vincent siew told reporters last night he was leaving with a heavy heart meaning that he would face tough talks in washington because of rising protectionist sentiments in the us congress
cable shares at 1350 gmt were quoted at 375p compared with a close last night at 364p
ny grain freights april 9 nidera took tbn 12000 tonnes hss toledo to casablanca april 29 may 5 2500 dlrs three days load 1000 discharge comanav took radnik 20000 tonnes lakehead to morocco april 15 25 2200 dlrs 5000 load 3000 discharge krohn took akron 75000 tonnes anygrains on 55 feet stowage mississippi river to rotterdam may 1 10 805 dlrs 12 days all purposes continental took legionario 40000 tonnes river plate to japan april 25 may 10 2250 dlrs 2000 load 5000 free discharge garnac took sokorri 30000 tonnes us gulf to constanza april 15 25 1700 dlrs load terms unknown 3000 discharge
officials said the controls have helped soften the effect of a recent 10 pct devaluation of the shekel
herringtons proposed tax incentives for the oil industry were issued last week after the department of energy released a comprehensive report finding us national security could be jeopardized by rising oil imports
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
central pennsylvania financial corp cpsa payout
the venture expects to bring into production a gold silver lead zinc ore body on admiralty island alaska containing about 3500000 short tons of ore assaying about 018 ounce of gold 240 ounces of silver 97 pct zinc and 39 pct zinc per short ton hecla said
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
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
northeast said it will be entitled to redeem the rights at one cent per right until the occurence of certain events
the trust said existing debt secured by the property of about 6700000 dlrs in due on completion of the transaction which is expected in early april
among other units are little folk shop a chain of discount childrens apparel stores the rx place a discount drug health and beauty aid operation and face fantasies which sells cosmetics
china hong kong firms signs loan agreement
gencorp gy bidder plans sale of aerospace unit
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
jordan will receive two loans totalling 964 mln dlrs to support projects aimed at increasing that countrys electrical production and improving housing in slum and squatter areas the world bank said
jose melicias from the research department of drexel burnham lambert said brazil would be trying to export as much as it can this year because of its economic situation
the company said shareholder approval is required for an increase in authorized shares of common stock to 100 mln from 25 mln
oper shr seven cts vs loss nil oper net 988000 vs loss 52000 revs 2267000 vs 791000 note net excludes gains from discontinued operations of 65000 dlrs vs 75000 dlrs
cut were its senior debt to aa from aa plus and subordinated debt and preferred stock to aa minus from aa
it accepted 66 billion dlrs of bids including 22 billion dlrs from the federal reserve and 91 mln dlrs from foreign and international monetary authorities
duties of 854 pct had been set last october
the credit will be divided into two separate agreements one for 85 mln marks with an interest rate of 613 pct and another for 15 mln marks at 620 pct
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
1987 net includes gain of 20 mln dlrs from sale of building and extraordinary gain of 411000 dlrs from tax loss carryforward
ciba geigy is currently testing the substance in animals but the company said the new supplies of the drug will be suitable for human tests
a similar deal yesterday by toronto dominion priced slightly higher at 5437 pct for an effective yield of 1352 pct was quoted slightly lower at less 137 less 125 pct
on january 26 bankamerica filed a shelf offering for up to one billion dlrs of preferred stock and subordinated capital notes
thermo process tpsi completes acqusition
arrangements for financing have not yet been made and there can be no assurance that any financing will be received hmo said
metrobanc said the merger is still subject to regulatory approval
river oaks said the note will be convertible into two mln shares of its common stock at one dlr a share
california biotech cbio sees 1st qtr loss
today it reported nine month earnings of 149 mln dlrs down from 159 mln dlrs a year before
montedison spa monimi said it has concluded its negotiations with spanish pharmaceuticals company antibioticos sa a company spokesman told we have concluded the talks and we are now awaiting authorization from spanish authorities he declined to comment further
there were five grain ships loading and three ships were waiting to load at portland according to the portland merchants exchange
edward zorinsky d neb sponsor of the measure said recently that those crop rotating practices resulted in less erosion than the practices of many farmers who produced strictly row crops
york financial corp yfed declares qtly div
kellogg said engineering of the plant which will have a capacity of 400000 tonnes a year is already underway and construction will begin in 1988
totally unadjusted figures show a deficit of 47 mln dlrs against 168 mln in january and 227 mln in february 1986
union miniere is a wholly owned subsidiary of societe generale de belgique belbbr
february fob exports rose to 282 billion dlrs from 274 billion revised from 272 billion in january and 254 billion a year earlier while fob imports fell to 277 billion from 299 billion revised from 301 billion against 270 billion a year earlier the bureau said
as far as we know they did abandon the site he said
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
michigan general corp mgl 4th qtr
as a result net income for the first quarter will be reduced by 18 mln dlrs
chock full onuts corp chg offering of 60 mln dlrs of convertible senior subordinated debentures due april 15 2012 through a group led by drexel burnham lambert inc
lukman described the disruption in ecuadors output following an earthquake as tragic but refused to say if the south american country would be allowed a higher output quota when it recovered from the disaster
yr ends nov 29 1986 shr loss 61 cts vs loss 119 dlrs net loss 1017000 vs loss 1987000 revs 104 mln vs 103 mln note prior yr ended nov
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
reichhold said each right will entitle shareholders to buy one one hundreth of a share of a newly created series of preferred stock at an initial exercise price of 120 dlrs with dividend and voting rights approximately equal to those of one share of the companys common stock
international proteins pro replaces credit
german march cost of living data confirmed
sudan has rejected a demand by the international monetary fund for a currency devaluation because such a move would have a negative impact on its economy the official sudan news agency suna reported
the federation the nations largest conservation group said further study was needed to assess any possible damage that development might have on the wildlife in the area the coastal plain of the arctic national wildlife refuge
further consolidation of foreign companies including the increase of its stake in leading spanish brewery el aguila sa to 512 pct new ventures and modernization particularly in french and spanish interests eroded profit margins
tourists came to canada in record numbers last year attracted by the relatively weak canadian dollar and expo 86 in vancouver which alone had more than 22 mln visitors
a spokesman for gaf was unavailable for comment
louisiana pacific corp said it reached a non binding agreement in principle to buy a gypsum wallboard plant in seattle from norwest gypsum
talking will not stop the dollars slide for long and the february meeting of finance ministers of the group of five and canada produced scant promise of either a decisive shift to more expansive policies in west germany and japan or a tighter us fiscal policy it said
competition for market share has been a boon to issuers as banks compete to offer the best terms
moodys said the units hoover and rowenta have leading market positions
the six basis point rise of the past month in us debt futures may be extended next week by a series of us economic reports analysts said as long as the dollar holds firm
once the government affects values once an import quota or license has value its going to be subverted by government he added
sudan is 450 to 500 mln dlrs in arrears to the international monetary fund imf which last year declared it ineligible for fresh loans
counsel corp said it plans a three for two stock split pending shareholder approval at the april 28 annual meeting
central bank president jose luis machinea said negotiations with creditor banks on argentinas 30 billion dlr private sector foreign debt were difficult
producers and consumers could not find common ground on the issue of quota distribution in eight days of arduous often heated talks delegates said
japan long term prime seen cut to record low soon
jefferies makes market in cyclops cyl 
export quotas were suspended in february 1986 when market prices surged after a drought devastated brazils coffee crop
louisiana pacific lpx to sell sawmill
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
the minister for economic affairs would need to be informed in advance of deals under which foreign interests planned to buy a new stake of more than ten pct of the voting shares in a large belgian company or to increase an existing stake to more than 20 pct
us treasurys mulford reaffirms g 6 pact to foster currency stability around current levels
although it is difficult to forecast the extent of the profit improvement this year the gain should be significant he added
it seems to me it is not in the interests of either country to get in an escalating conflict
the industry through the apea has been calling for the elimination of secondary taxation on oil in order to boost incentives for prospecting against a background of weak prices and australias relatively low exploration levels
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
only two weeks ago world coffee prices slumped when international coffee organization members failed to agree on how coffee export quotas should be calculated
the national bank said banks repaid around 58 billion francs of traditional central bank credit taken out to meet their end of quarter liquidity requirements
the plan would be similar to those already in effect in other latin american nations he said
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
but there are lot of people out there to do business with
februarys paris meeting of six major industrial powers exorted nics to lower trade barriers and revalue currencies
the transaction is guaranteed by c
us senate leader calls for interest rate cuts
lloyds bank matches base rate cut to 105 pct
toho mutual life is also the largest shareholder in nippon lace the company said
he also said bra kanon would fulfil his duties as icco council chairman during the talks scheduled to end on march 27
the icc had rejected in july on grounds it would reduce competition the merger of the santa fe and southern pacific railroads
orley acquired the vessel from banstead shipping ltd
the rush to compete for high octane gasoline market share has been spurred by expectations that the government will lift gasoline production quotas and restrictions on gasoline station construction in the next two to three years
ussr wheat bonus offer said still under debate
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
we have sold 20 to 25 pct of the ge notes
sloane said it was important that june swiss francs and june german marks held above support at 06400 and 05400 respectively closing at 06438 and 05430
pan alberta said the approved deal authorized terms of a two year interim contract amendment cash payments and transportation credits for pan albertas customers minimum yearly natural gas takes by united and a two year commodity price
montreal based unimedia is quebecs third largest newspaper group with three french language daily newspapers in quebec city ottawa and chicoutimi quebec and four printing plants in ontario and quebec
29 and march 9
this type of issue gives the holder the opportunity in times of falling interest rates to ensure himself of a fixed maturity loan while with unchanged or rising rates he has the option not to exercise his warrant amro said
a target date of mid september has been set for the signing of a package rescheduling nigerias medium term public sector debt and outstanding letter of credit claims nigeria and barclays bank plc said in a joint statement
circuit systems inc said it has bought all of the stock of ionic industries inc in exchange for 3677272 shares of its common
comerica cmca raises prime rate
danaher dhr expects earnings increase in 1987
crown auto inc crni 4th qtr dec 27 loss
oki electric industry co ltd okiet will reduce april production by 10 pct from marchs 32 mln
shr 23 cts vs 46 cts net 987000 vs 1990000 revs 146 mln vs 150 mln year shr 89 cts vs 132 dlrs net 3846000 vs 5690000 revs 581 mln vs 566 mln
the forecast for soybean yield this season was the least changed in relation to last week
suddenly theyre standing at the centre of the world community and in that sense theyre at a loss as to how to face the situation most recently the ministry has been embroiled in a row with london over efforts by britains cable and wireless plc to keep a major stake in one of two consortia trying to compete in japans lucrative overseas telephone business
previously chinese entities have always acted as co lead managers whether for chinese or foreign issues
as a result the number of shares outstanding will increase to 102 mln from 68 mln the maker of industrial equipment said
international lease finance corp ilfc shelf offering of up to 1000 shares of dutch auction rate transferable securities darts preferred stock through salomon brothers inc and shearson lehman brothers inc
italys budget ministry said last month that 1986 gdp rose 27 pct in real terms from 1985
the partnership said it acquired 346600 ipco shares paying 49 mln dlrs because it believed the securities to be an attractive investment opportunity it said it planned to regularly review its investment and may in the future recommend business strategies or an extraordinary corporate transaction such as a merger reorganization liquidation or asset sale
the bank of england announced in february that it planned a possible series of experimental auctions for gilts similar to the system used to market us treasury issues with the first auction possibly in april or may
nigerias early march output was about one mln bpd down from 114 mln bpd in february and its quota of 1238 mln bpd
news of a weaker than expected march employment report and a minor bounce back in the dollar prompted short covering that pushed coupon issues higher while an easing in the federal funds rate below six pct helped short dated issues
the funds raised will partly finance two ethylene factories near shanghai
nacco said its north american coal corp unit has received notice that consolidation coal co a unit of du pont co dd will exercise an option to buy all of the stock of quarto mining co a subsidiary of north american coal
symtron had 1986 sales of about 20 mln dlrs
australias woolworths looks to improved profits
the margin on previously restructured debt also will be cut to 1 1 4 point from 2 1 2
the bank of france is to inject liquidity against first category paper at a tender this afternoon a bank spokesman said
scholls businesses in the us canada and puerto rico which had sales of about 135 mln dlrs last year
in december an ad hoc committee of the adbs board of governors comprising 18 african and non african countries agreed that a 200 pct increase was necessary to finance a rise in lending between 1987 and 1991
the singapore international monetary exchange ltd simex said it would launch at least two options on futures contracts this year
in order to stimulate domestic demand and boost the economy tax reforms aimed at bringing down the cost of land and reforming the nations housing stock are needed along with steps to bring down the high cost of commodities he said
the delivery period for the cattle is april 1987 june 1988 it said
banking sources said that one reason for the increase was that vneshtorgbank had been very impressed by the relatively low cost of financing by means of eligible bills rather than through more traditional instruments priced in relation to london interbank offered rates libor the facility is vneshtorgbanks first ever sterling denominated bankers acceptance facility
vegetable oils may tighten despite seed surplus
careplus inc cpls 4th qtr net
he said the tendency in such programs was to exaggerate the costs by presenting ten year perspectives in a one year context
hanover cos inc 3rd qtr jan 31 loss
cyclops also said its board determined that cyacqs announcement was not an offer
fraser and neave ltd frnmsi half yr to march 31
bei holdings ltd beih 1st qtr jan 31 net
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
the market was assigned all of the 3500 billion lire of three month bills on offer after requesting a total of 4695 billion
it said proceeds from the offering to be managed by drexel burnham lambert inc will be used to redeem all 20 mln dlrs face amount of its 11 7 8 pct senior subordinated debentures and to buy back some of its 1320 pct senior notes
bundesbank president karl otto poehl said west germany would be badly advised to lower interest rates and that he believed the economy would continue to recover after a six month lull
egypt will be seeking 20000 tonnes of may arrival white sugar next week while greece has called an internal ec tender for 40000 tonnes of whites to be held in early april for arrival in four equal parts in may june july and august
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
six major industrial countries agreed at a meeting in paris in february to foster currency stability
that compared with a revised usage of 10750 mln lbs in january and 10842 mln lbs in february 1986
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
mexico on the other hand dropped to 13 16 from 14 16
the operation will begin on march 31 a spokesman said
atari said the debentures will not be available for us resal until at least 90 days after completion of the offering abroad
the rate on the card is set quarterly
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
shr loss 14 cts vs loss 21 cts net loss 353000 vs loss 541000 revs 2668000 vs 2525000 avg shrs 24523000 vs 2552300
president reagan said the united states must do more to lessen its reliance on imported oil
the plant would supply manufacturers of pvc construction and other materials in eastern canada and the northeastern us government officials 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
the cabinet was expected to give its approval next thursday and the new tariff cuts would be implemented possibly starting on april 20 he added
under the plan stockholders will receive a dividend distribution of one right for each share of common stock held on march 23
qtly div 12 1 2 cts vs 12 1 2 cts prior pay april 30 record april 17
in a discussion of steel results usx said plants that were shut down last month and some previously idled plants may be permanently closed
china to tighten import control cut export costs
commenting on the deficit during an interview on cable news network baker said i think youre going to see a 15 to 20 billion dlr reduction this year the deficit was 170 billion dlrs in 1986
earlier today hughes adjourned a shareholders meeting called to vote on the proposed merger until march 11 and said it hoped to resume negotitations with baker
bregman partners include the interests of the belzberg families of canada
the company said the expansion will cost about 24 mln dlrs and could be in operation by 1988
the bourse said trading would resume again on monday
they said the airlines performance improved in the second half of the year after it reported interim profits of 503 mln dlrs
to offset this the state offers farmers cheap fertiliser and diesel oil and payment in advance for grain it contracts to buy
a commission headed by venezuelan investment fund minister hector hurtado and including representatives from the interior and defence ministries and the state oil company petroleos de venezuela will travel to ecuador tuesday to evaluate and co ordinate an emergency relief program he said
among third country destinations the soviet union was the largest costumer in january taking 11985 tonnes compared with nil in december and 26074 tonnes in january 1986
it may buy the wheat flour valued at 230 mln dlrs between april 8 and august 31 1987 and ship it by september 30 the department said
they said approval was given by the ecs cereals management committee because of the possible disturbance of the market due to heavy imports of maize under the agreement between the ec and the united states
the analyst said the bid could be raised by two dlrs a share
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 judge ruled that the uk court had no jurisdiction to wind up the tin council that the itc was not an association within the meaning of the companies act and that the winding up petition was not a proceeding in respect of an arbitration award
officers at small banks that have sold swapped or or written down their mexican loans say they see no reason why they should throw good money after bad
singapore bank credit rises in january
taiwan will relax import controls on more foreign goods a government spokesman said today
the paris agreement between the major industrialized countries provided only for a pause in its decline he said
the ministry was a minor ministry and its people were not so internationalized said waseda university professor mitsuru uchida
goh said local banks want to restore the prime to 6 1 2 pct the level at beginning of 1987
spain has five years to complete bank deregulation a process that began in 1978 when the government allowed foreign banks to open branches
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
second an apparent shortage of treasury bills apparently left wall street dealers with too little collateral with which to enagage in repurchase agreements with the fed economists said
they did not say whether the contacts had led to concerted action on the markets or merely an exchange of views
on march 27 1985 the board had authorized the repurchase of up to two mln shares as adjusted for a two for one split effected in april 1986 the company said
cos 1st fl yr of operation
in a letter to caesars chairman henry gluck included in the statement sosnoff said gluck had again refused on april 8 to meet with him even though he had said he was willing to increase the price of his offer
speaking at the annual shareholders meeting chairman nelson peltz declined to estimate when the company would become profitable
french cereals exports through rouen port rose to 751563 tonnes between march 1 and march 25 from 603413 tonnes in the same 1986 period freight sources said
completion of the transaction is subject to arrangement of financing negotiation of a definitive agreement and various regulatory approvals it said
aqua chem unit set to build site near tulsa
they said exchange contracts which the government no longer recognizes were signed with the central bank for this refinancing at 43 per dollar
harcourt also announced an extensive recapitalization plan which analysts said was aimed at thwarting a takeover effort by british printing
the louvre accords agreed in paris last february called for stability among the major currencies after a prolonged dollar slide
it has about 37 mln shares outstanding
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
morocco tenders for 55000 tonnes pl 480 soyoil
applied circuit acrt sells electronics business
speaking to reporters the bank research group said that the increase in interest rates announced yesterday and other activity in the foreign exchange markets did not indicate a fundamental change in the outlook
but economists said the proposals are unlikely to involve more than tinkering with technical details
it said eight of the nine holes drilled there have an average grade of 0046 ounce of gold and 21 ounces of silver per ton
the resolution will be introduced in the house next week by rep
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
the federal home loan bank board fhlbb announced the acquisiton of south bay savings amp loan association in gardena calif by standard pacific savings of costa mesa calif
there is a front end fee of 1 32 and a utilisation fee of five basis points if more than 50 pct of the revolving credit is drawn
the government meanwhile declared the port jobs an essential service and said the strikers could be dismissed unless they end the strike soon
king fahd said today saudi arabia wants oil price stability and he called on non opec producers to avoid harmful competition with the 13 nation group
a us banker said there is no evidence that chinas foreign exchange reserves have fallen below the officially stated figure of 10 billion dlrs
atcor atco cuts dividend
the company said it filed in the federal court in the central district of california charging the tender offer which its board rejected violated federal securities laws and federal margin regulations
they have thus decided that their selling price would not be linked any more to the prices quoted by these publications and that sales would be made at a minimum price of 300 dlrs fob per jar which is close to their production cost the statement said
treasury balances at fed rose on april 6
because of the high turnover of beans this year significant amounts have deteriorated because they were stored too long at the back of warehouses
indonesian banks raise interest rates
its teccor unit makes a specialized line of semiconductors
it said the stations are wtaf philadelphia wdca washington wcix miami ktxa dallas and ktxh houston
north rhine westphalia is raising 12 billion marks through a 10 year domestic bond with a coupon of 6 1 8 pct and priced at 10020 lead manager westdeutsche landesbank girozentrale westlb said
sprinkel says tax hike would not reduce deficit
citing recent eia statistics german said the gas surplus was likely to contract from three trillion cubic feet in 1986 to two trillion cubic feet in 1987 but the surplus would not go away until 1990
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
we have received a good response from consumers of formula shell in terms of a smoother ride and effective fuel consumption showa shell said
he said an auction of coffee would raise additional money and added that a report on june 16 gave the wrong impression that the auction was necessary to raise part of the 15 mln dlrs
joule inc said its board declared a three for two stock split payable april 30 record march 31
together the two had revenues of about 50 mln dlrs in 1986
the petition filed by bob evans farms odom sausage co sara lee corp and owens country sausage asks usda to allow mechanically separated meat to be listed on product labels as the species from which it was derived
faced with heightened protectionist sentiment in congress the reagan administration has been stepping up the rhetoric against taiwan and korea urging those countries to allow their currencies to appreciate and lift impediments to free trade
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
cigna corp ci sets date for debt redemption
usairs a rated senior debt is already on s p watch for possible downgrade
hudson valley patrol agrees to buy guard firm
they expect the money market shortage to continue around 12 billion guilders this week
the bank of england said it forecast a shortage of around 400 mln stg in the money market today
in an interview with durham said the company was examining potential candidates but not yet talking with any
coal costs were down 03 pct last month after rising 04 pct in january and were down 08 pct from a year ago
the dollar fell to 14430 yen and recovered only slightly after foreign exchange traders in new york said the federal reserve intervened to buy dollars for yen
mthly div 65 cts vs 65 cts prior pay march 31 record march 16 note franklin california insured tax free income fund
while he said he has no intention of seeking control of the company hammer said that because of his extensive business experience and his interest in exovir stock he may be invited to become a member of the companys board
the total of all crude refined product and spr stocks rose 94 mln barrels to 15611 it said
we will consider its relation to the punta del este declaration to correct trade problems and expand market access the us ambassador said
the export registration price or reintegro was lowered to 110 dlr per lb ex dock new york or 15583 dlrs per bag of 70 kilos from 135 dlrs 19433 dlrs the government announced a more flexible policy of reintegro in order to closely reflect market trends which arango warmly welcomed saying private exporters will undoubtedly be more actively present in the market
texaco tx unit raises crude oil prices
merrill corp mrll 4th qtr jan 31 net
however moodys noted that bankamerica corp remains liquid and owns considerable marketable assets
world prices have been recovering from the lows which followed the collapse of the ico talks and brazil has sold a reasonable 55 mln bags of 60 kilos for export in the first four months of this year
merrill which will be the dealer for the medium term notes and commercial paper said this was the first facility of its kind
animal feed ship on fire again at chinese port
morgan grenfell acted as merchant banker to guinness during the brewing companys successful bid for distillers co plc distl in the first half of last year
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
sncf issuing three billion franc domestic bond
one of the new directors will take over as chairman and chief executive officer river oaks said
bolivia intends to pay for the repurchase with aid that foreign goernments especially the united states and west germany are providing to help finance the eradication of coca crops
new york business loans fall 195 mln dlrs
he left the firm on november six last year to take over as president of upi
qtly div 36 cts vs 36 cts prior pay april one record march 13
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
us tallow production and stocks
swedish export credits 220 mln australian dlrs of 9 1 2 pct dual currency eurobonds due 1992
venezuela probes alleged foreign exchange fraud
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
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
ishrat husain the world banks representative in nigeria said yesterday he was satisfied both with the adjustment program as a whole and the foreign exchange auctions
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
rhone poulenc is a french based chemical company
derlan industries ltd said it acquired 80 pct of aurora industries inc of montgomery illinois for an undisclosed price
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
kapok corp kpk in technical default
to think that you can deal with a trade deficit by legislation is a mistake he told the foreign trade association here
unocal ucl raised crude oil postings by 50 cts bbl
the company added that isis will operate as part of mcdonnell douglas information systems international
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
a decline in us transatlantic traffic following terrorist attacks in europe the us bombing of the libya the chernobyl disaster and a slump in the oil industry which affected middle east traffic were the main causes of the loss thomson said
level vi covers wheat entered after january 19 1984
he also said he has no plans to seek control of the company
ibc could close may export registrations tonight
victory markets inc owns and operates a chain of 88 retail supermarkets and conducts a wholesale grocery business in central and northern new york state
the union official said the strike had halted a total of 158 vessels including 50 in brazils main port santos and about 50 more in rio de janeiro
dome announced its plan to 56 major creditors as well as public noteholders in march after several months of delicate negotiations
shr 42 cts vs 22 cts net 3445000 vs 2326000 revs 417 mln vs 515 mln
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
west german institutes call for early tax cuts
commerce bank set loan loss provisions of 6360 mln dlrs in fiscal 1986 ended october 31
under the terms of the us greek bases accord greece has the right to ask for suspension of operations at times when its national interests are threatened
ecopetrol chief of security retired general carlos narvaez said security measures would be stricter and that the armed forces were closely collaborating but gave no details
northeast savings fa nsb 2nd qtr net loss
the basin pipeline a major pipeline running 300000 bpd run by a consortium of other oil companies was closed today
dynamics corp dya in settlement with cts cts 
ec warns us and japan on trade tensions
it said major buyers last month were britain japan the netherlands west germany and the us
he said stocks at 90000 tonnes were about average for the time of year
it also said anchor hocking corp arh has converted the entire principal balance of its anchor glass convertible subordinated note to 576694 anchor glass common shares
shr 31 cts vs 26 cts net 1858000 vs 1388000 sales 271 mln vs 187 mln nine mths shr 87 cts vs 76 cts net 5126000 vs 3798000 sales 706 mln vs 572 mln
carroll said baker had previously estimated 110 to 130 mln dlrs in savings if the companies were combined without selling reed
comb co said it acquired for 87 mln dlrs the principal assets of national tech industries inc and telkon corp
observers say the plan has failed to stabilise the countrys economy
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
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
it quoted a spokesman for the china national offshore oil corp cnooc as saying china signed eight contracts with 15 foreign firms for blocks in the pearl river mouth and south yellow sea covering a total area of 44913 sq km
well if thats what it is fine
finance minister kiichi miyazawa said he regards a us dollar below 150 yen as counter to the agreement struck by major nations in paris last month
hog report shows more hogs on farms
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
a system of individual export quotas is being reestablished in brazil a previous system was abandoned in 1985 to ensure shipments are kept in line with the countrys ico quota
the philippines in addition as a large borrower nation is affected by developments in interest rate levels around the world and will carefully monitor the impact of these developments on interest rates on gold and on commodity prices aquino said
it goes far beyond investor protection shad said
mge planning april 6 start up of hfcs contract
st
exports in 1986 87 season at 6500 vs 6350 last month
they gave no details on amounts or prices but said it would be a major order
charles schwab and co is the nations largest discount brokerage firm
we expect higher prices for our oil exports this year he added
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
he said saudi king fahds remarks last month that increased production was not so important as long as incomes would not be affected by the output were very relevant and welcome from such a powerful producer
cinram ltd 4th qtr net
arab monetary fund lends iraq 717 mln dlrs
standard and poors corp said it raised to a from a minus bay state gas cos preferred stock
the company said the charges relate to its telecommunications products area and three other areas
hometown bancorp inc htwno 3rd qtr net
ranco rni holders approve merger
us corn sorghum payments 50 50 cash certs
the company said superior will become the exclusive packer of squire labeled coffee products which are marketed by stewart and stewart will provide equipment service and distribution suppoort for some superior coffee accounts
the amount will be set at tender on monday march 9 between 0800 and 0830 gmt
american management systems amsyo 3rd qtr net
that was about the first time in seven quarters he said
holders would also retain stock in the recapitalized firm
the 500000 strong unitary workers front fut and the 100000 member general union of workers ugt called the strike to cancel the measures which include a rise in petrol prices of up to 80 per cent and budget cuts of as much as 10 per cent
uk money market offered early assistance
treasury director daniel lebegue said last month that gross domestic product is expected to grow by between two and 25 pct this year against an original target of 28 pct
euro medium term notes a recent phenomenon in the international capital markets are hardly attracting a flood of issuers but investment bankers are doing their best to breath life into the market
this bond will pay a first coupon of 425 pct on april 27 next year and the payment date will be october 27 1987
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
european community steelmakers presented the executive commission with a controversial plan for the future of the industry which diplomats say it may be forced reluctantly to accept
it said cumulative roastings for calendar 1987 now total a 3295000 bags compared with 3620000 bags by this time last year
belgrade march 30 yugoslav trade is declining rapidly this year in hard currency terms according to the latest federal statistics office fso figures
phillips last changed its crude oil postings on march 4
restructuring has not compensated for a greater than anticipated deterioration in market conditions s and p said
the sources said the french central bank could have been in the market again today in two way operations not necessarily on its own account but to counter short term pressures arising from the end of the japanese financial year on march 31
us and canadian bank paper was still generally under pressure as was republic of ireland paper due to renewed worries about the irish economic situation
the shanghai official said prices must be reformed over the long term
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
uk chancellor of the exchequer nigel lawson welcomed on monday the reaffirmation by the us and west germany of the louvre accord aimed at stabilising currencies
the notes which will be callable after 1992 will be underwritten by first boston corp
consumers power cms cogeneration qualified
conable could do indonesia a great service if he is straightforward enough to point his finger at shortcomings that could be corrected it said in an editorial
such redispositions may temporarily dampen the expansion of central bank money stock but do not automatically lead to a smaller expansion of money supply they said
we hope we can survive and prosper through diversification he said
mi tech steel will construct own and operate steel service centers
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
now that transco has refused to transport cheap spot gas for them these distributors are likely to be more conciliatory on the inventory charge he said
wings west airlines wing 3rd qtr net
shr profit 11 cts vs loss 28 cts net profit 515000 vs loss 1328000 sales 310 mln vs 321 mln avg shrs 4600199 vs 4815062 1st half shr loss 23 cts vs profit 10 cts net loss 1033000 vs profit 482000 sales 585 mln vs 621 mln avg shrs 4565752 vs 4883711 note 1986 half net includes pretax gain 4150000 dlrs from sale of option to buy facility
india buys rbd palm olein at tender
holiday corp said the new jersey casino control commission has approved its recapitalization plan providing the final regulatory approval needed
stanley interiors sthf says results reduced
goldome fsb year net
yesterday s and p upgraded to bbb plus from bbb the companys 86 mln dlrs of convertible subordinated debentures of 2009 and assigned a bbb plus rating to hechingers planned 100 mln dlr issue of convertible debt due 2012
corrected mobil mob to upgrade refinery unit
coffee price drop not affecting colombias debt
goldome is the largest mutual savings bank in the us cityfed said it decided to sell its consumer lending offices outside its main market areas in new jersey and florida to concentrate its resources to these markets
the acquisition should be financed initially with bank debt that together with the assumption of chemlawns debt could raise significantly ecolabs leverage
gencorp says it expects to complete sale of wor tv this week all challenges resolved
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
in the 1987 first quarter american can will record a one time gain of 28 cts per share from the sale of shares in its musicland group subsidiary
last years cut in fertilizer use will hit this years yields and bigger effects are expected within the next three years oil world said without elaborating
the ratings include aa3 rated first and refunding mortgage bonds secured pollution control revenue bonds and eurobonds
ghiringhelli also said the bank planned to convert its representation in london into a subsidiary at the end of this year and further expand activities at its new york subsidiary particularly in private banking
brown disc to buy rhone poulenc rhonpa unit
indonesian exports of cpo in calendar 1986 were 530500 tonnes against 468500 in 1985 according to central bank figures
after travelling to major wheat producing areas and obtaining more information on the planted area the total planted area was estimated down 290000 hectares due to the dry fall it said
the estate and family members hold 78 pct of the 752297 class b shares outstanding
the bank of spain suspended its daily money market assistance and offered to drain funds with three and seven day repurchase agreements at 12 1 2 pct money market sources said
rexham said it received the takeover offer in a letter from nortek
prospects for the second quarter were relatively favourable with crude exports seen at 1320 mln bpd after an expected 1324 mln this month 1323 in february and 1395 mln in january
the bank of england finally gave way to a 1 2 point cut in banks base lending rates earlier today but dealers said this had been largely discounted and was not likely to detract from the current popularity of sterling denominated investments
mthly div 16 1 2 cts vs 16 1 2 cts prior pay may 15 record march 31
corporate efforts to cope with the yens appreciation such as cutting production costs are expected to bear fruit next fiscal year the institute said
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
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
africa added three seismic crews the middle east increased by two and the far east added one while reductions were reported in central and south america europe and the united states
us treasury selling 775 billion 4 yr 725 billion 7 yr notes march 25 26
because of the level of public sector external receipts in the fourth quarter of 1986 and the first quarter of 1987 mexico will not draw the first two tranches of the continency facility totalling 451 mln dlrs citibank said
the united states has excessive expectations he said
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
the soviet union is rumored this morning to have bought up to 15 mln tonnes of us corn export trade sources said
the working group broke up for the day into a smaller group of five producers and five consumers to discuss administrative rules and into the group headed by erbynn to hammer out buffer stock rules details delegates said
on the us west coast however netback values for ans cif la were weaker with weak gasoline prices sending the yield at cracking plants down 68 cts to 1842 dlrs from the previous friday as shown below in dlrs a barrel
uk money market given help offered facilities
the chlorine content enhances sweetness without providing calories
morgan stanley co managed the deal
corrects mame of purchaser
in 1986 diamond shamrock reported a loss of 1156 mln dlrs on total revenues of 2543 billion dlrs
bfce issues three billion franc domestic bond
say sayi to take 3rd qtr loss from sale
its like tax avoidance schemes said steve donovan head of mmi japan kk as soon as you close one route another opens mitis pressure has annoyed some makers who had earlier shrugged off miti guidance
but a desire on both sides to find some solution coupled with uncertainty at home and abroad over likely successors to nakasone could still lead to an attempt to paper over the differences and aid nakasone they said
three institutes predicted two pct economic growth in 1987 with exports falling by 05 pct
note companys full name is the burmah oil co plc burml m
he noted that central banks had spent some 10 billion dlrs this week to stabilize the dollar against the yen in the first such test
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
combined sales of the three companies in 1986 were over 50 mln dlrs it said
atari atc to sell convertible debentures
chevron operates the block on behalf of 16 companies which include british petroleum development ltd dsm hydrocarbons uk ltd enterprise oil tns ltd marathon int
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 debentures can be redeemed at par at maturity and are callable at the companys option after the first two years
others argue the merger was more cost effective than creating a comparable branch network from scratch
officials said the surplus was expected to widen further in 1987 but seoul would try to hold it below eight billion dlrs
an exchange official told the ministry of international trade and industry is expected to approve the the new brokers by mid june
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 spokesman said agency action on the proposed merger application could take as long as six months
both had interest in stabilising prices and supplies xuto added
canadian economic growth is expected to slow further in 1987 but an improved the trade picture should keep the country from recession economists said
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
an estimated 12 mln metro users in madrid were stranded today as striking railway workers halted the underground transport system industry sources said
earlier this year pyongyang tried and failed to pay off part of its debt with several tonnes of fish
in addition exchequer transactions and bankers balances below target will remove some 85 mln stg and 15 mln stg for the system respectively
the credit line from four local banks was set up on december 3 1985 to bail out firms involved in forward contracts with pan electric which went into receivership in november 1985 owing 390 mln dlrs
bank of new england corp said it filed with the securities and exchange commission a registration statement covering a 200 mln dlr issue of subordinated capital notes due 1999
an official at colombias national association of sugar cane growers said they had no plans to raise export targets
sloane noted that june yen futures set a new contract high on tuesday and closed at its best level ever while june sterling set a new contract high on monday
in connection with the offering apache said preliminary results for the first two months of 1987 reflected a loss of about 600000 dlrs or three cts a share on consolidated revenues of 33 mln dlrs
gerald lach president of eagleslair was named president and a director of dtd
amax said additional reserves amenable to heap leaching are estimated at 383 mln tons averaging 0025 ounce gold and 024 ounce silver per ton
edelman group in plan to buy morse shoe mrs 
kellogg said the refinerys reformer hydrotreater will be upgraded to 9500 barrels a day capacity from 7500
cojuango who headed the boards of both smc and ucpb when he fled last year after marcos was toppled personally owned 24 mln shares in smc
the domestic uranium conversion industry and the federal governments enrichment industry could be seriously injured in a manner not intended by congress if the import ban on uranium ore and oxide were implemented to bar imports for processing and export through a mistaken interpretation of the act the treasury brief said
the dollar had risen as high as 208 marks and 165 yen in early november
they forecast a final dividend of 29 cents for a total of 42 cents for the year against 38 cents in 1985 adjusted for a one for five bonus issue
each of the nine supreme court justices has jurisdiction over a particular regional appellate circuit and has the power to provisionally overturn its rulings without comment
he expects 25 pct first quarter growth but said that second quarter growth could be zero or negative
this agreement helped send prices sharply higher rising from 15 dlrs a barrel in early december
proved oil reserves at year end 33 mln barrels up 39 pct from a year earlier and natural gas reserves 47 billion cubic feet off nine pct
lone star said the 875 pct notes will mature on march 26 1992
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
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
mitchell energy said the additional spot sales will tend to lower the average price realized for gas in the early part of fiscal 1988
net interest income totalled 925 mln dlrs compared with 917 mln dlrs in the same 1986 period as loans mostly to middle market businesses increased by 896 mln dlrs
1987 amounts include operations of burgdoff realtors acquired during december 1986 and other operations
oilseed processing at the mill has been at a standstill since december 19
nakasone says dollar fall only temporary
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
it added that the notes are due march 20 1990
despite the figures the budget forecast of about 175 pct annual growth in employment would be met keating said
woolworth was unchanged at 758p
george wimpey profits up 42 pct to 665 mln stg
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 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
but imtec said no merger talks havew yet taken place
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 agreement presents the house and senate agriculture committees with difficult choices on how to make changes in agriculture programs that achieve the budget savings targets without jeopardizing popular support payments senior congressional aides told 
if the results are positive and a commitment to develop made then construction would take about 12 months placer said
western diplomats in rangoon estimate the figure at above 70 pct and say the country can no longer depend on foreign exchange reserves to cover more than a few weeks imports
for the year ended may 31 1986 the company reported a net loss of 112 dlr per share or 53 mln dlrs on revenues of 776 mln dlrs
lawson said the paris accord presumed that individual countries would take corrective action if their currency began reacting significantly to domestic macroeconomic factors
the us amoco petroleum corp has reported an offshore oil find at its pearl river basin concession in the south china sea the new china news agency said
febres cordero quoted in an information ministry communique said we have to ratify this suspension on debt service to the private international banks
lufthansa said it carried 13 mln passengers on north atlantic routes in 1986 a rise of 14 pct over 1985
the company said it is in the final stages of talks with oxford over the terms of the proposed acquisition
volcker told committee chairman fernand st
usda would scrap cotton rice bean price floors
these cmos were given an initial coupon of 11 1 2 pct and priced at 10440
wheat was rated 16 pct fair 56 pct good and 28 pct excellent
shr 50 cts net 2751000 vs 2094000 nine mths net 6993000 vs 5577000 assets 6031 mln vs 5043 mln loans 4485 mln vs 3581 mln deposits 4679 mln vs 4477 mln note per share figures for 1986 and 1987 nine mths not available as bank converted to stock form of company in april 1987
ivorian agriculture minister denis bra kanon chairman of the international cocoa organization icco council will not be able to open the council session here tomorrow an ivorian icco delegate told 
at the end of 1985 vw had parent company reserves of slightly less than three billion marks
following the west german interest rate cuts on january 22 the dutch central bank did not lower its rates but set a 05 pct lower tariff for special advances and abandoned its credit surcharge
the federation groups all of taiwans major industrial associations
it said eight of the nine holes drilled there have an average grade of 0046 ounce of gold and 21 ounces of silver per ton
cuevas said employers were heeding the governments call to hold wage increases to its five pct inflation target this year with increases from salary reviews awarded last year and new wage pacts averaging 56 pct in the first quarter of 1987
holllinger hlgto paying 50 mln dlrs for buy
affected were 14030 hectares of palay unmilled rice representing a production loss of 22250 tonnes valued at 778 mln pesos department of agriculture reports said
us tropical oil labeling plan suffers defeat
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
the senate budget committee sits down tomorrow to start drafting a fiscal 1988 budget with the budget writers expected to look at several proposals for fuel taxes and other tax options to cut the budget
electrohome ltd said it agreed to sell certain assets of the computer service sector of its aabex service division to canadian general electric co ltd cgeto terms were not disclosed
each side has attacked the others shipping
hanson industries the us arm of hanson trust plc said contracts have been exchanged in london for the sale of bonds delivery service to rockwood holdings plc for about 60 mln dlrs in cash
frost not expected to damage polands wheat
morgan stanley said weyerhaeuser may exchange the preferred on any dividend date beginning june 15 1990 for its 5 1 4 pct convertible subordinated debentures due 2017
buyers taking delivery of the propane must pay the seller by certified check and the deadline for payment is 1200 est noon of the second business day following receipt of the propane
dutch adjusted unemployment rises in march
soycomplex could rally on tight us feed supply
central banks buy dollars for yen in london
us export inspections in thous bushels soybeans 18616 wheat 16760 corn 25193
tmoc owns 80 pct of the moonie pipeline co pty ltd which owns and operates the moonie to brisbane oil pipeline
lambert has sold 240 mln common shares to other board members advisory board members alan h
performance in the first year of the national plan was close to target the minister said
shr loss nine cts loss 12 cts net loss 585866 vs loss 455866 avg shrs 6841638 vs 3651505 year shr loss 34 cts vs loss 54 cts net loss 2158709 vs loss 1931397 avg shrs 6296701 vs 3586914 note company has no revs as it is in product development stage
after reaching 30 cents there is a chance of appreciation to 32 cents in the next several weeks one dealer said
southwest bancorp swb 3rd qtr loss
if the charges are true we are disappointed and angry merrill lynch said in a statement
the price is quoted fob herculaneum mo and fob boss mo with freight allowed for carload quantities
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 
du pont co has increased its equity stake in perceptive systems inc to 335 pct from 20 pct perceptive systems said
the company said the class b common would have 10 votes per share and the common one vote per share
in addition it noted a slight rise in taxation and social security costs to employers
should g 7 members force a us commitment to cut its budget deficit in the next two years a further decline in the dollar could be forestalled horner said
australia said its quota of 7000 tonnes was roughly equal to its expected output this year
alaska housing has 150 mln dlr syndicated loan
us bank discount window borrowings less extended credits averaged 228 mln dlrs in the week to wednesday march 18 the federal reserve said
sprinkel said the administration still looks for 27 pct growth in us real gross national product gnp in 1987 and 35 pct in 1988
qtly div five cts pay april 1 record march 27
the company said the transaction is not expected to have a material impact on earnings
merrill mrll buys frayn financial printing
ended jan three shr profit five cts vs na net profit 58088 vs loss 279718 revs 6310841 vs 5468893 year shr profit 12 cts vs loss 74 cts net profit 126321 vs loss 773090 revs 231 mln vs 191 mln note loss per share not given for quarter
in the long term we will be getting less and less for more and more production and im not comfortable with that he said
to stay competitive fund managers must invest overseas and gain experience with financial instruments which are likely to spread to japan with further deregulation
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
after damage to its maize crop last year the soviet union plans to expand this area by as much as 50 pct to over six mln hectares in a year when many frost damaged wheat fields are likely to be resown to this and other spring crops
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
he said after several acquisitions last year good will charges are up
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
the library was purchased in may 1986 as part of cannons acquisition of screen entertainment ltd from bond corp holdings ltd
it also calls for reduction of farm subsidies
conable had what he termed a frank meeting this morning with suharto
the cpi came within the range of economists expectations and had little direct impact on us financial markets
scheetz currently president will be vice chairman according to the company
franklin gold fund cuts dividend
ual said it will add the offerings net proceeds to general corporate funds adding that it expects to invest the money in short term cash instruments initially
the talks have dragged on because of the banks reluctance to accept interest payments partly in philippine investment notes pins instead of cash and because of manilas insistence on an interest rate margin close to the 5 8 pct spread over eurocurrency rates that it initially demanded
the tax reform act of 1986 will have a substantial impact on continental illinois corp the companys annual report says
the usda quarterly hogs and pig report yesterday showed more hogs on us farms compared to last year as profitability resulting from low grain prices encouraged producers to step up production analysts said
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
german may trade surplus 106 billion marks april surplus 89 billion official
timberland industries inc timb 4th qtr net
s and p said the parent company would generate sufficient cash flow over the next several years to fund the stock buyback program without weakening its financial position
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
the institutional sources said salomon cited a filing with the securities and exchange commission by citibank the lead bank of citicorp
shipments from plants increased to 30467 short tons in february from 27041 short tons revised lower in january the abms said
wolverine exploration co said substantially all the material aspects of the agreement to sell its 895 pct working interest in the luckey ditch unit in unita county wyo to sun co inc have been satisfied
us leading index fell 10 pct in january
period ended january 31
last january japanese exports to the ec totalled half of of sales to the us against about a third in recent years
shr loss 40 cts vs loss 29 cts net loss 15 mln vs loss 11 mln revs 289 mln vs 285 mln six months shr loss 99 cts vs loss 69 cts net loss 37 mln vs loss 26 mln revs 525 mln vs 517 mln
on an annual basis this put m0 growth at four to 4 1 2 pct in the middle of the 1987 target of two to six pct
ford motor co said it made 189610 us cars in march up from 150520 in the same period last year
the company said it bought the wyona water flood oil and gas unit in 1984 for 650000 dlrs
shr loss 11 cts vs profit six cts net loss 515000 vs profit 294000 sales 628 mln vs 654 mln
in a separate announcement wells fargo said the acquisition will increase the amount of personal trust assets it administers to 25 billion dlrs
gillette is buying a total 180000 shares valuing the deal at 126 mln francs
air canada to comment on gelco gec unit report
spending on food accounts for about one quarter of the average households budget and roughly 10 pct of the gross national product gnp according to a study by chew
current quarter net includes 580000 dlr tax credit
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
airlines officials could not be reached for comment on the ruling which halts the merger until arbitration on the dispute is completed
another arbitrageur said he was not sure what was going on
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
united auto workers union says it supports chrysler amc merger
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
the republicbank issue was secured by credit card receivables
moodys downgrades beneficial corps 34 billion dlrs of debt
the commodity futures trading commission has approved the minneapolis grain exchanges application to trade high fructose corn syrup 55 hfcs 55 futures contracts the commission said
efforts to break an impasse between coffee exporting and importing countries over regulating the world coffee market in the face of falling prices appear to have failed senior delegates said after a contact group meeting
a group of creditor banks hopes to work out a rescue package for japan line ltd jlitt one of the worlds largest tanker operators by the end of japans business year on march 31 a spokesman for the industrial bank of japan ltd ibjtt ibj said
yesterday the company said that it will restructure its mobil exploration and producing services inc mepsi to enhance the development and transfer of technology supporting critical areas of exploration drilling resevoir management and computer systems
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
murray said that with the results from 1986 were paying back 38 billion dlrs in the past two years or the equivalent of 66 pct of the debt incurred in 1984 when we bought superior oil mobil said that it has about 183 mln dlrs of long term debt which is due in 1987 although this will rise appreciably to 12 billion dlrs of long term debt due in 1988
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
shr loss 13 cts vs loss one ct net loss 18600000 vs profit 3300000 revs 3940 mln vs 3510 mln year shr loss 21 cts vs loss 16 cts net loss 23300000 vs profit 3900000 revs 136 billion vs 129 billion note current yr loss includes reorganization charge of 152 mln dlrs vs yr ago reorganization charge of 176 mln dlrs
new production forecasts were made for all these crops
he said there were already signs that a slow recovery from recession was under way in the oil and gas industries
the government announced a three billion franc program to combat long term unemployment amid speculation among political and economic analysts that it is positioning itself for a period of economic reflation
the company made its initial public stock offering march five
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
multi family permits were up 50 pct in september to 503000 units after falling 30 pct in august
some analysts said the company should be bringing in new products but it is too soon to predict a significant turnaround
pete domenici a new mexico republican said
brennan said he expected brazil to be able to reach an equitable agreement with foreign banks on restructuring its 68 billion us dlr foreign debt because the brazilian economy is essentially healthy
stability in sterling versus the dollar continued to apply pressure to a market which is coming close to testing a psychological chart support base at 4200 stg traders said
non communist february aluminium output up ipai
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
it is very difficult to be optimistic gut said
dlr falls on fear tokyo wont hike demand miyazawa
reynolds told the shareholders friends and family members have been telling him bill just dont pay greenmail to end the takeover threat
china should tighten imports of ordinary goods and restrict or even forbid import of goods which can be made domestically premier zhao ziyang said
philippine planning chief urges peso devaluation
quaker oats co said keystone partners inc has purchased vernells fine candies inc previously an indirect subsidiary of quaker
in addition she said many of those nations are faced with serious debt and need to sell coffee to raise capital
they said prime minister jacques chirac planned to urge ec commission president jacques delors to send a team of experts to washington as soon as possible
consumer products represented 50 pct of total 1986 turnover compared with 35 pct in 1982 van driel said
laidlaw transportation ltd ldmfo third qtr
west germany tanzania agree debt rescheduling
subscriptions to the issue close april 17
we hope this need will not be affected negatively by trade legislation rodriguez said we need to keep the market opens especially the us market to obtain the necessary foreign exchange not only to service the debt but also to continue national development progress president reagan has said he would veto any legislation he termed protectionist and his aides now are mounting a effort to water down some of the objectionable provisions in the legislation
iel itself is 51 pct owned by brierley investments ltd of new zealand merrill lynch said
however usda general sales manager melvin sims told the administration is considering allowing usda to provide its first export credit guarantees for plywood on the grounds it is not a manufactured product
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
services producing industries expanded 10 pct
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
scott instruments scti gets qualified audit
the transaction expected to be closed in march involves the controls divisions energy management and power line carrier product lines
scotts hospitality acquires capital food
that plan calls for a cut in the sugar loan rate to 12 cents per pound from 18 cents now
california microwave said the write downs should have a nominal cash impact as the company already has paid for the assets being written down
certainteed a us building products company is 57 pct owned by cie de saint gobain sgeppa the recently privatised french glass and materials group
if texaco doesnt get crude supplies it cant run its refineries so its other assets would not be worth anything he added
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
iraq defers payments on 500 mln dlr euroloan
fortune financial group incs fortune savings bank subsidiary said it executed a definitive agreement to buy marine savings and loan association of florida for 101 mln dlrs
dealers said the bundesbanks latest liquidity allotment this week dashed some hopes of lower rates
frost and sullivan inc frsl 2nd qtr jan 31
sedgwick buys bsi incorp
wal mart stores inc wmt raises quarterly
the preferred stock was issued on february 23
also some of venezuelas heavy grades were outside the opec pricing system he said
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
dravo saidperformance so far this year in its engineering and construction segment has not met earlier expectations
dixons today called cyacqs higher 9250 dlr a share offer for cyclops highly conditional
nissen said he believed that if when issued trading were not allowed market makers would be extremely unhappy about the whole auction gilt dealers noted that it was a basic provision of stock exchange rules that dealing could not take place in a stock until it was listed by the quotations department
elders also said it arranged for a credit facility of up to 390 mln dlrs shared equally between two canadian banks which would be available to acquire shares under the offer
the company said modern mailers had revenues of 8600000 dlrs for the year ended october 31 and provides computer service computer printing and lettershop facilities
february orders for electric and electronic goods were 619 mln us dlrs up from 574 mln in january and 370 mln in february 1986
istat said its consumer prices index for the families of workers and employees base 1985 was 1091 in february against 1087 in january and 1047 in february 1986
about 220 men in rotterdam ports grain sector stopped work this afternoon in an unofficial protest at the slow progress of negotiations over a new work practice agreement a spokesman for the port and transport union fnv said
cftc will consider public comments on the proposal until june 3
in the face of short term uncertainty many companies have pared 1987 spending plans from last years lower levels deferring most frontier exploration work
economists have been banking on an improved trade performance this year to stimulate an otherwise sluggish canadian economy
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
after record world durum wheat production of 2188 mln tonnes last season the iwc said there are already signs of another large crop this coming season with higher output expected in the ec canada the us and north africa
the bill now goes to the full house banking committee for further action
shr loss five cts vs loss 17 cts net loss 154654 vs loss 419606 revs 517699 vs 374108 year shr loss 28 cts vs loss 56 cts net loss 821979 vs loss 1368591 revs 1650657 vs 1285473
based on about 183 mln outstanding shares the market in its frenzy was valuing the spin off at about 900 mln dlrs analysts said
delegates said that in exchange for consumer flexibility on the floor price question producers may consider agreeing to another consumer proposal for more frequent price reviews at 12 month intervals instead of 18 at present
net includes tax credits of 2970000 dlrs vs 980000 dlrs in quarter and 5210000 dlrs vs 1590000 dlrs in half
the united states said kuwait was discussing plans to lease privately owned us tankers to transport oil through the gulf in addition to putting some of its own vessels under american flags
eligible producers of 1986 crop us corn and sorghum will receive an estimated 600 mln dlrs in deficiency payments 50 pct in generic commodity certificates and 50 pct in cash the us agriculture department said
some bankers expect it to rise to 33 by june and to 32 by the end of this year
ibm said the new group is responsible for direct sales installation and service of the rolm product line as well as other ibm telecommunications products
however the daiwa officer defended his firms pricing of the deal
ah robins qrah files monthly report
the won has risen 203 pct against the dollar so far this year after rising 334 pct in 1986
they said they believed that chrysler was sold the corporates at a large profit because the issues were bought by the automaker for its portfolio when interest rates were much higher
call money rates fell to 385 95 pct from five pct yesterday in moderate trading as month end tightness disappeared and operators took positions for april
however most analysts are still looking for a full point about march 17 budget day
the state bank of victoria issued a 50 mln australian dlr bond paying 14 1 2 pct over three years and priced at 101 3 8 pct
no replanting programme has been successful said almy hafild from the indonesian network for forest conservation
they said the funaro and stoltenberg discussed third world debt in general and brazils debt position in particular but declined to give further details
cyacq said financial projections it developed for cyclops were materially lower than the financial projections provided by cyclops to dixons group
corn and soybean basis values continued to drop on the illinois and midmississippi river due to the strong barge freight rates
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
it said there are now 3002500 common shares outstanding with a quoted price of about 7 8 bid compared to 150125000 shares outstanding prior to the split
dome is trading at 112 dlrs per share down one ct today on the toronto stock exchange
geplacea officials say this is the main cause of low prices
oki is studying ways to increase imports by 10 pct in the fiscal year beginning april 1 from the previous years total of more than five billion yen a company official said
it is only a matter of time before we solve this problem he told 
discussions with nbc on the merger of the two companies radio units were suspended in december
the quick changing nature of the financial market meant these ratings should also be continually updated he said
japan set to ride out yen rise officials say
the cabinet authorized energy and mines minister arturo hernandez grisanti to approve the purchase in the shareholders assembly of the state oil company petroleos de venezuela pdvsa pdvsa last april 14 signed a letter of intent to buy a half interest in champlins corpus christi refinery for an undisclosed sum
salant corp said it and its thomson co inc and obion co inc subsidiaries have filed a joint reorganization plan with the us bankruptcy court and expect to emerge from chapter 11 bankruptcy in the near future
recent strength in the price of encor shares may also prompt commerce bank to press dome to divest its holding in the canadian oil and gas producer analysts said
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
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 trade issue has now become a political issue since the reagan administration is facing uproar in congress over th3pygks in cutting the countrys 1698 billion dlr trade deficit they said
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
computer associates ca sets two for one split
failing washington state s l is acquired
affirmed were the bbb senior debt of chrysler and its unit chrysler financial chrysler financials a 2 domestic and eurocommercial paper chrysler capital realty incs a 2 commercial paper and chrysler financials bbb minus subordinated debt
taiwans strict foreign exchange controls and lack of incentives to invest abroad mean its huge export earnings are mainly deposited in bank savings accounts earning below four pct interest each year
the fees comprise 1 1 4 pct selling concession with 5 8 pct management and underwriting combined
skyline explorations ltd said expects construction can begin next month on a gold mine at johnny mountain camp located 600 miles north of vancouver
central banking system inc csys qtly dividend
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
the uk companies act allows the possibility of the winding up of what it defines as an association and amt will argue that the tin council falls within this definition arnold said
imf approves development aid for jamaica
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
moreover banks were forced to borrow a huge 52 billion dlrs from the fed on wednesday the highest daily total this year even though unexpectedly low treasury balances at the fed that day left banks with over two billion dlrs more in reserves than the fed had anticipated
in anacomps fiscal 1986 it earned 4073000 dlrs or 13 cts a share
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
earlier today kurzweil reported a 1986 loss of 85 cts a share compared to a 1985 loss of 121 dlrs a share
the west texas sour grade at 34 api now stands at 1810 dlrs a barrel
transco energy co e sets quarterly
german eurobond market expects breathing space
canadian money supply falls in week
shr profit 20 cts vs loss two cts net profit 2665000 vs loss 202000 revs 12141000 vs 5993000 nine mths shr profit 35 cts vs loss 11 cts net profit 4653000 vs loss 1167000 revs 351 mln vs 180 mln
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
he said involuntary lending proved useful in the two or three years since the mexican debt crisis in 1982
may illinois river ex chicago 100 pct bid 107 1 2 offered no comparison
keating revises down australian growth forecast
the chicago soybean complex has been nervous for some time about large south american crops developing under near ideal conditions towards record yields
it reported earnings of 36 cts a share in 1986 which included two large writeoffs
semi annual div from income of 73 cts vs 10 cent in prior period payable march 27 record february 27
the company said the adss are expected to be traded on the nasdaq system
they attributed this to a huge number of bond redemptions by the issuing companies
caisse nationale des autoroutes is issuing a 120 mln ecu 7 3 8 pct bond due may 15 1995 at 101 3 4 pct lead manager credit lyonnais cl said
south africa optimistic about debt talks
it is expected that oliver s
datron systems inc said it expects to report a falloff in earnings for the year ended march 31 of about 25 pct from fiscal 1986 levels
the sale is effective from tomorrow they said in a joint statement
hi shear industries inc hsi 3rd qtr feb 28 net
bank of tokyo issues 100 mln sfr convertible
the final ruling will be based on more detailed information the officials said
yesterday fed funds averaged 599 pct
telemedia to buy harrowsmith equinox magazines
parker speculated that the combined emery purolator would have about 24 pct of the six to seven billion dlr delivery business
it said president michael r
it earlier reported that operating profit for first quarter ended january 31 fell to 273000 dlrs from 17 mln dlrs the previous year
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
varity expects to report 4th qtr and full year 1986 loss
more than one official has warned opec would find its solidarity under scrutiny by the end of april or start of may it said noting demand usually fell with the onset of summer
he said the government and the international monetary fund had set the peso dollar 1987 target rate at 2080
us shareholders will be restricted to the right to receive 1180 canadian dlrs cash per share which will be paid in us funds the company said
now both oil and gas prices are severely depressed johnston said
royal dutch shell eventually raised its initial 55 dlrs a share offer to 60 dlrs a share after lawsuits by minority shareholders
the strikes were called off by the main port union fnv on march 13 following an amsterdam courts interim injunction against the redundancies on procedural grounds
mitsui real estate development co ltd mreat 
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
ccc credit guarantees to haiti amended
large scale buying by foreign banks or by a life insurance company earlier pushed the dollar upwards they said
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
japan business leaders say g 7 accord is worrying
holders will also vote on a proposal to limit the liability of directors and amend the provision for indemnifying directors officers employees an agents
sweden to go ahead with s
usda sets 0 92 provision for some producers
the rights are intended to assure that all holders receive fair treatment in the event of a takeover
1st qtr shr seven cts vs nine cts net 166000 vs 201000 revs 801000 vs 687000
john danforth r mo urges the administration to take strong retaliatory measures if the tax is approved by the ec council of ministers
geodyne resources inc geodo 4th qtr feb 28
with the recent stabilisation of the us dollar however foreign investors have begun to back away from the market as hopes of further currency gains in marks diminish
bankers said the request is a legal nicety since the money is subject to the moratorium
global raised one pct fuel oil by 35 cts to 2025 dlrs a barrel
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
marine midland banks inc said it has acquired the customer account base of new york discount brokerage firm ovest financial services inc for undisclosed terms to expand its discount brokerage operations in the northeastern us it said it will combine ovests activities with those of its marine midland brokerage service unit
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
compromise cited on san miguel shares
the country has temporarily suspended beef exports to the ec because of the outbreak and awaits a decision from the ec veterinary committee which is considering a formal ban
when cpc announced the agreement yesterday in new york it said only that the price would be in excess of 600 mln dlrs
nationwide cellular ncel completes purchase
it allows a refund of import duties paid on raw sugar imported from november 1 1977 to march 31 1985 for production of sugar or products containing sugar and destined for re export
now the correction of that 1981 mistake demands that the system change a lot penner sees little hope the gramm rudman hollings budget deficit reduction targets will be met and said the deficit will remain at roughly 200 billion dlrs this year
the embassys annual report on indonesian agriculture forecast coffee output in 1986 87 would be 577 mln bags of 60 kilograms each
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
ab astra share split to widen foreign ownership
the periods were essentially steady at 5 7 8 5 8 pct for one month 6 1 2 3 8 pct for three and 6 7 8 11 16 for six months
e systems esy sets qtrly payout
usda is not offering any new soybean loan options and agriculture secretary richard lyng has not consulted asa on the soybean loan haggard said
brazil made several adjustments in its economy in the past which affected the goodwill of its people
but despite this upward push on real dutch rates money dealers do not expect the central bank to cut official rates independently without prior moves by the bundesbank
the plans form part of an on going campaign to reform surplus creating farm policies that have become a political embarrassment at home and commercial flash point abroad and threatened to leave the community with no cash for other areas
italys consumer price index rose 04 pct in march compared with february after an identical increase in february over january the national statistics institute istat said
overall these are significant gains for the new zealand economy and if they continue to be improved upon bode well for future prospects
s and p projected the market would grow to 100 billion dlrs in the next five years
brunswick bc files for 300 mln dlr shelf
such loans currently account for slightly over 20 pct
gencorp will finance some of the buy back with bank loans the agency noted
claim payouts fell to 99 mln guilders after 666 mln the previous year
ministers from more than 20 nations were told by new zealand that the next international negotiations on liberalising trade would be the last this century and the cost of failure could not be measured
burnham service corp bscoo 3rd qtr net
many fear that dealers will buy coffee destined for non member countries at discounts and then bring it into the us falsely labelled
sapporo breweries issues five year sfr notes
us bank net free reserves 644 mln dlrs in two weeks to feb 25 fed says
japan has far too much at stake in this relationship with the united states to seriously entertain thoughts of retaliation yeutter said
however some dealers said london based operators would be unlikely to open major positions next week ahead of the long easter weekend
quantech electronics corp qant 3rd qtr dec 31
cheyenne said it should realized 10000 dlrs net income monthly at the properties current production levels
brazil makes second amazon oil discovery
final trust for thrift institutions payout set
but it said it would continue to be the exclusive worldwide licensee of the technology for woodco
individuals are not heavily invested in stocks on their own although they do participate through trust funds and other investment vehicles
robbin johnson vice president of cargill inc testified in favor of decoupling
hawkeye entertainment inc said it completed its initial public offering at the maximum subscription level of 14 mln shares at 25 cts per share for proceeds of 35 mln dlrs
president corazon aquinos spokesman said last week that she was committed to launching the program which limits land holdings to seven hectares by using her sweeping powers of rule by decree before a new congress convenes in july
the aomi cargo distribution center which will start operating in october this year signed a similar agreement with rotterdams twinned port of seattle last september
taiwan agreed last year to voluntarily limit its steel product exports to the us to 120000 tonnes in the first half of 1987 from about 260000 tonnes in the first half of 1986 a taiwan steel and iron association official said
k tron international inc ktii 4th qtr net
hopefully its the beginning of a trend said richardson greenshields of canada ltd economist susan clark in toronto
it is nearly impossible for the fed to hit any borrowings target since the demand for excess reserves is erratic said wells fargos nathan
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
alcan ups aluminium ingot and billet prices
m 1 a which is m 1 plus daily interest chequable and non personal deposits rose 778 mln dlrs to 7595 billion dlrs and m 2 which is m 1 a plus other notice and personal fixed term deposit rose 109 billion dlrs to 17795 billion dlrs
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
sharp said exports to the ec of pc 7000 series lap top personal computers would continue at last years level of 12000 to 16000 units a year
avatar holdings inc avtr year net
the agreement between usda and transportation is expected to resolve the matter usda officials said
proprietary school sales totaled about 56 mln dlrs and accounted for less than 10 pct of jostens total revenue it added
t
this brings the banks total help today to some 412 mln stg and compares with its forecast of a shortage in the sytem of around 400 mln stg
opec sticking firm on official prices subroto
what it really is a narrowing of the spread that could be charged on new money the official said
in an unrelated development rjr nabisco inc rjr paid what some bond traders said amounted to a penalty fee when the company tapped the domestic debt market on friday
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
westport bancorp webato 3rd qtr net
unlike broker dealers agency brokers do not take positions in the market but the survey showed 68 pct of respondents did not consider this very important when deciding whether to use one
the new york stock exchange said tenneco inc declined to comment on whether there were any corporate developments that might explain the unusual activity in its stock
final div 95p making 14p vs 1275p
it might be more difficult to find more oil and more oil internationally at these levels he added
pechiney pukgpa signs soviet packaging accords
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
high octane gasoline accounts for 25 pct of shells total gasoline sales in japan it added
indonesian energy minister subroto said he sees the oil market continuing bullish with underlying demand expected to rise later in the 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
the bank said the project will benefit small and medium sized industries primarily in yugoslavias republic of slovenia
this compares with a 11 pct fall in the fourth quarter of 1985
alden electronics inc said its board declared an annual dividend of 15 cts per share on class a and b common stock down from 25 cts last year due to an expected drop in earnings for the year ended march 28
terms were not disclosed
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
syria has bought around 320000 tonnes of soft french wheat since the beginning of the 1986 87 campaign of which only 121000 tonnes had been exported by the end of last month
baring capital investors ltd bci a unit of the uk merchant bank baring brothers and co ltd said it has raised 61 mln european currency units ecus which will be invested in management buy outs and development capital opportunities in the uk and continental europe
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
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
de croo was also in washington for trade talks
the agreement calls for cascade to have the rights for the manufacturing and trading of perfumes skin care and treatment products and cosmetics of the group it said
rudy boschwitz r minn said
manufacturing payrolls increased by 24 billion dlrs last month after rising 19 billion dlrs in february with the gains widespread through durable and nondurable industries the department said
anything is possible at this phase even adjournment of the meeting until march or april one said
if banks were short of liquidity until the bills matured on tuesday rates could soar perhaps to the 550 pct lombard ceiling
i dont think theres much room for compromise he said
but the ministry source said that no decision has yet been reached on the matter and that an announcement would be made in due course
amoskeag amkg takeover blocked by court
oper shr loss 97 cts vs loss 73 cts oper net loss 883000 vs loss 659000 revs 194 mln vs 167 mln 12 mths oper shr loss 237 dlrs vs loss 197 dlrs oper net loss 2228000 vs loss 2145000 revs 724 mln vs 638 mln note excludes gain 341 dlrs a share versus gain 41 cts in the quarter and gain 568 dlrs a share versus gain 199 dlrs in the year from discontinued and disposed operations
they said the shares would be purchased by the asoriano group of companies smc neptunia and unnamed institutional investors
house speaker jim wright dismissed charges that the trade bill before congress contributed to the fall in stock prices on wall street
moodys also said a renegotiated bank agreement includes accelerated amortization requirements that exacerbate alleghenys already weakened ability to service its debt
some 7000 black workers returned to work after staging one day strikes at two mines on monday the national union of mineworkers and the companies that own the mines said
austrian 1987 growth seen between 05 and 15 pct
commerzbank increases dividend parent net profit
south africa corn exports could be reduced usda
imre corp said it has received commitments for a group of european institutions to buy about 400000 imre shares for 2500000 dlrs with closing expected on march 16
he would not comment on whether a and p would make another offer to acquire delchamps
chemlawn says it rejects 27 dlrs per share tender offer from waste management
the harkin proposal would set loan rates of 517 dlrs per bushel for wheat 377 dlrs for corn and 932 dlrs for soybeans all to be put in effect under strict controls on planted acreage reductions
the offer is not conditioned on receipt of any minimum number of shares boeing said
qtly div 5 1 2 cts vs 5 1 2 cts prior pay april 16 record april six
provisions for general contingencies were reduced in 1986 by 41 pct to 575 mln guilders while taxes increased by 21 pct to 242 mln guilders he added
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
extruded ingots from the plant will be converted to sheet in an existing hot rolling mill
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
royal bank of canada ryto 2nd qtr april 30 net
last week the forces of president hissene habre of chad supported trained and armed by paris and washington scored a major success by pushing libyan troops out of their last bases in northern chad
house speaker james wright a texas democrat said again today he expects the full house will approve the trade bill by may and that reagan will accept the final congressional bill
united telecommunications inc said its lower first quarter earnings included a loss of 63055000 dlrs from its equity in us sprint
air products and chemicals inc apd in payout
the iacs report will be due at the same time as the findings of the current royal commission into grain storage handling and transport kerin said
peter beutel oil analyst with elders futures inc who looks for a build said we have had five weeks of gasoline demand at 73 mln bpd or more and it is likely to taper off to between 67 70 mln bpd which should make stocks build
the post and telecommunications ministry has said it wants only one competitor to kdd and has backed watanabes efforts
in 1986 about 183 billion dlrs of new eurobonds were offered according to figures compiled by euromoney magazine
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
portugals agriculture minister alvaro barreto said he disagreed with a court order barring the state grain buying agency epac from taking part in cereals import tenders open to private traders
saudi arabia hopes to increase the volume of its oil exports to japan through expanding bilateral trade saudi arabian interior minister naif bin abdul aziz said
acme precision acl buyout bid dropped
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
turkey eligible for us bonus rice
corroon and black corp cbl raises quarterly
union planters upcmo acquisitions approved
investor paul bilzerian who has said he may seek control of pay n pak stores inc said he raised his stake in the company to one mln shares or 99 pct of the total from 721900 shares or 72 pct
chemed corp che 3rd qtr net
uk money market receives 170 mln stg help
a monetary policy which took into account exchange rates and capital flows could not be confused with an exchange rate oriented policy he said contradicting some growing sentiment
it also said the bundesbank should reduce inflationary pressures by cutting the current rate of growth in money supply to about four pct
the bank said non accrual loans totalled 33 billion dlrs at april 30 15 billion in domestic loans and 18 billion in international loans
allied signal ald to sell linotype unit
but jucker and finance director hermann haerri told a news conference the new management installed a year ago had decided to restate the previous five years accounts to eliminate rights on australian bauxite previously in the books as an asset
winn enterprises wnn unit sells dairy
the us international trade commission itc voted to authorize the commerce department to impose anti dumping duties on imports of brazilian frozen concentrated orange juice
the banks lending last year consisted of 63 loans totaling 304 billion dlrs bringing the agencys cumulative lending to 3544 billion dlrs
south yemen plans oil export pipeline mees
two of the 10 economists revised rate forecasts up mildly after the dollars fall to 40 year lows versus the yen in past days and news of pending us trade sanctions against japan
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
shr loss 30 cts vs loss 43 cts net loss 891000 vs loss 969000 revs 1930000 vs 1815000 avg shrs 29 mln vs 22 mln nine mths shr loss one dlr vs loss 136 dlrs net loss 2622000 vs loss 3037000 revs 4638000 vs 4105000 avg shrs 26 mln vs 22 mln
in spite of these the economy has shown signs of stress with no significant improvement in a number of areas he added
the selling concession is 1 3 8 pct while management and underwriting combined pays 5 8 pct
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
the merger is effective april one and is subject to shareholder approval
shr loss two cts vs profit three cts net loss 80333 vs profit 67967 revs 1162678 vs 1009731 avg shrs 3317104 vs 2494049 year shr loss 21 cts vs profit four cts net loss 679520 vs profit 96724 revs 4191540 vs 4702999 avg shrs 3242641 vs 2525677 notes revenues exclude hospital television rental business sold dec 29 1986 1986 losses in both periods include gain of 530000 dlrs on sale of discontinued business
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
brunswick corp said it filed a registration statement with the securities and exchange commission on a shelf offering of 300 mln dlr in senior debt securities
monetary and credit growth rates in new zealand are not expected to continue at current levels following the reserve banks move to tighten liquidity late last year reserve bank governor spencer russell said
buechler prior to his promotion was executive vice president and chief operating officer
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
by law no more than three commissioners may be of the same political party and the agency prepares its own budget request each year instead of leaving this to the white house
the seamen are demanding pay raises of about 200 pct but have been offered less than half that
chinas wheat crop threatened by pests disease
the investors said about 132000 shares or about 20 pct of the outstanding had been tendered
the meat industry will seek to have the us government retaliate against ec and korean exports if their complaints are upheld
the company said ami diagnostic operates seven magnetic resonance and mutli modality diagnostic imaging centers
south louisiana sweet also up one dlr is now 1785 dlrs
banking sources said it appeared that jordan had made an exception in rafidains case allowing it longer to comply
panteras pant acquires 10 restaurants
a spokesman at the port authority of nearby vlissingen said attempts were being made to pull the vessel into shallow waters
westpac banking corp and the melbourne university institute of applied economic and social research said their leading index of australian economic activity rose for the ninth successive month in december
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
it said the agreement has been approved by the directors of both banks and is subject to approval of marine shareholders by a majority vote
guatemala will host a meeting of other milds coffee producers probably in may to discuss basic export quotas the guatemalan delegate to the international coffee organization ico said
oneok inc oke in payout
he said ecuador owed the private foreign banks between 450 and 500 mln dlrs in interest payments for the rest of 1987 and about 66 mln in principal payments maturing this year
the troops went in at the request of the state oil company petrobras because of the threat of a strike by 55000 oil industry employees
the share crash result of a speculative spree in forward trading left 95 billion dlrs of post dated cheques in default
the company said it will expand its sanwet super absorbent polymers unit and its acrylic acid facility
puget sound power psd redeems mortgage bonds
the conservative party and the countrys largest trade union called this week for the debt to be rescheduled following the price drop
unocal corp said its union oil co of california unit is making a public offering of 450 mln dlrs of long term notes
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
egypt seeking 500000 tonnes corn us traders
telecom said it estimates this to ba about 15 mln dlrs
yeutter said the trade bill should increase us competitiveness aid us trade negotiating leverage and avoid provoking foreign retaliation
a national bank spokesman said the modest cut was made after a decline in domestic money market rates yesterday and was not expected to be followed by a cut in the 760 pct discount rate
abbott abt sees gains from weaker dollar
there also will be a utilization fee of five basis points if the underwriting banks are called upon to provide more than 30 pct of the facility
some interpreted the move as a goodwill gesture in advance of his annual meeting on april 5 6 in ottawa with prime minister brian mulroney
the meat export federation was awarded 50000 dlrs to increase the market for chilled and processed us pork in japan and singapore
periods end february 28 1987 and 1986 respectively
on june 2 the central bank froze overseas borrowings of local and foreign banks and cut the limit on central bank purchases of forward us dollars from banks to 40 pct from 90 pct of the value of a contract
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
raytech corp ray 4th qtr dec 28 net
usda corrects turkey credit announcement
b ultimate destination not yet declared
the french domestic bond issuing committee said it has approved three new issues totalling 18 billion francs
us home corp said its first quarter ending march 31 1987 will be its most profitable first quarter since 1983
crude oil imports in the week rose to 366 mln bpd from a revised 267 mln api added
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
inertia dynamics corp said it declared a 50 pct stock dividend payable may 1 to shareholders of record april 3
british petroleum raises north sea butane prices by 1550 dlrs a tonne today
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
nafco financial group incs naples federal savings and loan association said it revised a loan agreement with punta gorda isles
there was a deficit of 814 billion marks in the short term capital account after a surplus of 194 mln in january
the average mark dollar rate is put at 180 marks this year and 170 in 1988 while the yen dollar rate is expected to break through the 150 yen barrier with an average value of 150 yen in 1987 and 146 yen in 1988 it said
energy development said may petroleum inc mayp general partner of may energy will distribute about 35 energy development units for each 100 may energy partners units to holders of 100 may energy partnners units or more and cash to others
in western europe the approach to trade disputes tends to be to try to reach a settlement through negotiation wolf said
the company said the transactions will bring immediate production and earnings to consolidated tvx enhance its precious metal potential and is expected to improve cash flow and earnings on a per share basis
the central bank also put selective controls on bank advances to the oilseeds vegetable oils and foodgrains trades
the report said us oil imports rapidly rising could hit 50 pct by the mid 1990s and have potentially damaging implications for national security
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
1987 qtr and nine mths also includes charge of 835000 dlrs for the early extinguishment of debt net of tax benefit
anheuser busch bud sells sinking fund debt
it rose four cents against the us dollar on saturday to close at 3459
carney was outlining the governments new position on the farm trade problem that was tabled on tuesday in geneva in the multilateral talks under the gatt general agreement on tariffs and trade while few details were released carney said the government would also be pressing for an improvement in market access and new measures to ensure countries do not erect artificial barriers
he is still evaluating first quarter gnp prospects
mees says second week march opec output 14 mln bpd
willcox said it plans further expansion in the atlanta area
market queries here centred on whether the 12 companies involved in mergers referred to in the sec complaint included british companies such as guinness plc guinl which have featured in recent official inquiries
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
oper shr 17 cts vs not available oper net 1619000 vs 6354000 nine mths oper shr 80 cts vs not available oper net 7675000 vs 22669000 assets 606 billion vs 574 billion loans 311 billion vs 333 billion deposits 457 billion vs 483 billion note 1987 operating net excludes tax credits of 39 mln dlrs or 40 cts a share in the quarter and 81 mln dlrs or 85 cts in the nine months period
that is 1 8 point above sosnoffs offer price
we are always open to negotations whether it a settlement could occur in time to prevent this the sanctions from going into effect is questionable at this point the spokesman said
the bonds are non callable and payment is april 29
american express axp up on shearson rumors
this would be done by seeking agreement among major exporting countries including the european community on market sharing at agreed high prices
the ship was originally loaded with 10000 tonnes of animal feed
1986 net both periods includes 191 mln dlr provision for future losses from several major projects in defense contractor subsidiary
la electricidad ceased principal payments under a five year refinancing plan last year althouigh interest has been paid the officials said
usx x unit to raise most crude postings
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
a total of 10968 kilos of silver were assayed an 111 pct rise
the company said it is redeeming these notes as part of its continuing effort to reduce the average cost of its debt
no taiwan sugar exports expected this year
chrysler financial corp a unit of chrysler corp is raising 250 mln dlrs through an offering of notes due 1992 with a 7 5 8 pct coupon and par pricing said lead manager salomon brothers inc
it called for comprehensive planning to coordinate production of cotton with that of grain edible oil and other crops but gave no more details
egypt authorized to buy pl 480 wheat flour usda
first interstate bancorp i files debt offer
in its annual report pemex said average crude output in 1986 was 243 mln barrels per day 202000 bpd down on 1985
saskatchewan crops deteriorate in hot weather
ultramar shares firmed on the announcement to 187p from 181p at last nights close
a aa1 rating was assigned to dnc international finance as 10 billion yen of five pct guaranteed eurobonds due 1994
it said proceeds from the offering will be used for general corporate purposes and to repay borrowings under the companys bank credit line
charles c
central bank governor chang chi cheng told reporters the increase in reserves was the result of heavy intervention by the bank on the local interbank market
the pioneer sugar investment would give csr by far the largest stake in australias 850 mln dlr a year sugar industry and access to some of the best sugar properties and mills in the country they said
heineken is urging farmers to grow the traditional raw materials but coebergh noted that banana and palm beer were popular in rwanda this is a possibility but we could not possibly achieve the heineken flavor coebergh said
mexican cattle imports to be branded usda
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
but the oecd in its half yearly report forecast a slightly lower inflation rate over the next two years
tvx and its investment bankers salomon incs sb salomon brothers advised taft the closing would not be consumated as scheduled the company said
treasurys baker says there has been no change in us policy on dollar
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 sasles 191 mln vs 166 mln avg shrs 4947632 vs 3780543
apart from the present disruption bankers and company officials said the mexican debt equity scheme has been a huge success
allegheny international inc said it sold three of its industrial units which served the railroad industry to chemetron railway products inc a senior management group of allegheny
semi annual div 7 1 2 cts vs five cts pay april nine record march 26
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
partly offseting these outflows a fall in note circulation will add some 355 mln stg to the system today
iran warned the united states on monday against exacerbating the gulf crisis saying it would endanger american interests
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
webcor electronics inc said it remains in technical and payment default under its revolving credit agreement and in technical default under certain other obligations to its lender
ec sets export licences on 20000 tonnes maize
the houston based company said it sold an average of 339 mln cubic feet of domestic natural gas each day last year a 17 pct drop from 1985
neil nichols said he was surprised at the vehemence of domes statement and denied that transcanada was trying to usurp other bids
further pressure from a protectionist us congress for a lower dollar is also limiting washingtons options they said
zambias marketed maize production will probably fall to less than 630000 tonnes in 1986 87 may apr from 918000 last year because of poor rainfall in major producing areas agriculture minister kingsley chinkuli said
but there was no hint what the announcement might be
from may 15 this year up to and including july 15 1990 each warrant will entitle the holder to the bullet by surrender of the other bond and a warrant
canada southern petroleum ltd csw 2nd qtr loss
current commerce is based on a rate set in the 1960s of 038 egyptian pounds to the dollar which moscow sees as unreasonable
he also urged publicizing the comparative advantage of participation shares over ordinary shares for foreigners
elders ixl ltd of australia said wholly owned ixl holdings canada inc extended its previously announced offer to acquire all outstanding shares of carling okeefe ltd to midnight april 23 1987 from march 25
deutsche bank ag will be lead managing the issue the sources added
gulf applied technologies inc gats 4th qtr
4thh qtr feb 28 shr 46 cts vs 22 cts net 2139034 vs 854182 sales 308 mln vs 206 mln avg shrs 5280854 vs 4559646 year shr 134 dlrs vs 115 dlrs net 5935117 vs 4156171 sales 1072 mln vs 716 mln avg shrs 5281387 vs 3616183 note town and country jewelry manufacturing corp
davies cos to buy all of the special preferred stock
elders resources ltd first half ended dec 31
i dont know who in congress would propose that happening
they all have different opinions
rospatch corp rejects offer from diagnostic retrieval systems inc
the syndicate is expected to accept the terms immediately underwriters said
joe gold corp said it plans to proceed with development of its golden patricia gold property in northwestern ontario
pacer systems to make acquisition
the bank of zambia has paid out foreign exchange arrears from three auctions conducted last year a bank spokesman said
cash from operations dropped to 50 mln dlrs from year ago 5420 mln dlrs and unrestricted cash balance declined to 2020 mln dlrs from 4660 mln dlrs
ameritech ait regular dividend set
along with other leading industrial countries west germany agreed to a package of measures at a meeting in paris in february aimed at stemming the fall of the dollar
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
colombia coffee exporters believe in pragmatism
the offer is worth about 74 billion dlrs
the bank said the estimate could rise to between 130 dlrs and 180 dlrs a share if the full pension surplus is obtained
yeutter said government and business moves are based on data from tariff schedules and the new system will improve knowledge of trade flows and the quality of decision making
the agency also said the b 1 rating continued to recognize a highly leveraged debt structure that would result from holidays recapitalization program as well as the companys dependence on property sales to produce adequate cash flow for near term debt service
before the sale the government added the debt onto the british gas balance sheet
general motors acceptance corp gmac the financing arm of general motors corp of the us will launch its planned one billion us dlr medium term note program in the international capital markets on april 7 said wendy dietz a vice president at salomon brothers inc new york
the 50 mln dlrs approved for a southern africa initiative is part of a larger programme promised by the reagan administration last year when it tried unsuccessfully to block sanctions approved by congress against south africas white minority government
the company said maryland alliance wanted the merger blocked on the grounds that ncnb inadequately served the credit and financial needs of low income and minority communities in its markets
viacom said mcv holdings a group which includes the companys senior management and the equitable life assurance society of the united states raised the value of its offer by increasing the value of the preferred being offered to 850 dlrs from 800 dlrs a share and raising the ownership in the new company to be held by present viacom shareholders to 45 pct from 25 pct
the prepayments although modest were not apparently something that the philippine negotiators wanted to dwell upon as they sought to portray their 17 year rescheduling agreement as better than mexicos
us trust co the only other bank to publicize its broker rate was already posting 7 1 2 pct
sosnoff said he has raised his offer for caesars world inc shares to 32 dlrs each from 28 dlrs and has reduced the number of shares he is seeking to 291 mln from all those not already owned
producers submitted bids to enter 11 to 12 mln acres into the program milton hertz administrator for usdas agricultural stabilization and conservation service said at a congressional hearing yesterday
monier chairman bill locke said in a separate statement that the independent directors of monier intend to recommend acceptance of the etl bid in the absence of a higher bid
backlog 5076 mln dlrs vs 4444 mln dlrs
but the latin borrowing nations control 54 pct of the vote and frequently approve loans to which economic reform conditions are not tied
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
id be delighted to deliver the message kay replied
shr 193 dlrs vs 221 dlrs net 8371000 vs 9576000 revs 183 mln vs 157 mln
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
the discussions from april six to 10 will be wide ranging touching everything from interest rates to the impact of development loans on the environment according to monetary sources
gephardt a missouri democrat told he was not certain the exact form his trade surplus reduction proposal would take
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
we will discuss the market situation then he added
net loss 92623 vs profit 11209 sales 93483 vs 189388 note per share data not available as company went public in january 1987
fitzwater said i would say japan is applying the full court press they certainly are putting both feet forward in terms of explaining their position but he added that all indications are they the tariffs will take effect
the group said it raised its stake to 88580 shares or 62 pct of the total outstanding common stock after buying 14135 mcgill common shares between jan 19 and march 2 at prices ranging from 3357 to 3457 dlrs a share
at the end of 1986 it had 11 mln dlrs in bank debt outstanding with a 17 mln dlr payment due may one
1986 loss includes gain of 68 mln dlrs from discontinued operations
the company said the warrants are exercisable for five years at a purchase price of 125 dlrs per share
due to favorable support prices corn area increased by more than 25 pct at the expense of soybeans and yields are expected to be above average it said
the following proposed securities offerings were filed recently with the securities and exchange commission mead corp mea shelf offering of up to 150 mln dlrs of debt securities including debentures and notes
dixons has 56 pct of cyclops corp
waste management wmx board okays modulaire buy
lawson added the uk government intended to keep sterling at about present levels using currency intervention and interest rates to achieve this
drexel burnham lambert inc is sole manager of the offering the lawn products company said
the company said the stock was purchased for an undisclosed amount from an unnamed group of investors
note earnings per share and dividends have been adjusted for the firms two for one bonus issue made in april
of the 50 or so houses who have up until now made a market in floaters dealers estimated that around a dozen did not quote frn prices today and they reported that one or two houses were not expected to resume trade in the securities at all
sunyou intercontinental hk ltd has finalised the one billion hk dlr loan for its hotel and office complex in the kowloon tourist district lead manager standard chartered asia ltd said
traders detail irish intervention barley tender
about 29 mln dlrs of the class action settlement will be provided by paradynes insurance carrier
first interstate i estimates brazil risks
banca nazionale del lavoro london branch is issuing a 120 mln dlr five year straight bond with equity warrants lead manager credit suisse first boston ltd said
taiwan has over one trillion taiwan dlrs in savings official statistics show
we are looking for profits from the estate agencies themselves as well as the insurance products associated with them corby said
the statistics office said producer prices for natural gas had fallen 30 pct in march against february heavy heating oil prices were 32 pct down liquefied gas prices fell 14 pct and coffee was 74 pct cheaper
as a result of the act it said its effective income tax rate rose eight points to 481 pct in the quarter and 55 percentage points to 497 pct for the nine months
the sources noted however that the cocoa industry in brazil the worlds number two producer is in private hands
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
us march retail sales cut by late easter
the canadian wheat board has advised the federal government to sharply cut initial prices paid to farmers for their wheat oats and barley in the crop year beginning august 1 a board spokesman said
leveque who has met the heads of most of chinas banks including the president of its central bank during a visit here said the chinese authorities are very attentive to its foreign debt and have the matter under control
the company today paid a dividend of 11646 dlrs per share
it saw a decline of two to three pct in this sector after a 52 pct rise in 1986
the government wants to reduce the rate to eight pct this year
areas of the southern grain belt were hit by high winds and hail tuesday with some damage reported
unocal said its new light louisiana sweet posted price is 1935 dlrs a barrel
she said a statement was expected but it was not certain when it would be ready
stop and shops shp bradlees march sales rise
he was questioned about this after the standard and poors corp downgrading today of the debt of six major money center bank holding companies largely because of their heavy developing nation loan exposure
rise seen in french rapeseed soybean sowings
champion products ch approves stock split
primebank federal savings bank said its board declared a 10 pct stock dividend to be distributed about april 15 to holders or record march 31
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
news on october 9 that the government was planning a 10 pct withholding tax wiped billions of marks off shares and bonds in a market already reeling from rising interest rates at home and abroad
azpurua said that according to the agreement the new interest rate will be retroactive to april 1 provided the accord is approved before october 1
heavy signup seen in 1987 corn program usda
ec sources detail new farm social package
shr 42 cts vs 34 cts net 2945000 vs 2400000 sales 1468 mln vs 1172 mln nine mths shr 245 dlrs vs 235 dlrs net 17280000 vs 16366000 sales 4656 mln vs 3878 mln avg shrs 7046000 vs 6961000 note 1986 data restated for changes in method of accounting for pensions
underwriters are wood gundy inc gordon capital corp merrill lynch canada inc burns fry ltd and midland doherty ltd
the bank of england said it had invited an early round of bill offers from the discount houses after forecasting a shortage in the system of around 11 billion stg
mcdonnell douglas md not approached by pesch
but the present tendency has been that more and more of the banks specially the regionals or the small ones have either sold off their portfolios or simply by policy will not put up any more money fernandez said
uganda re routes coffee exports through kisumu
unadjusted m 2 plus cds stood at an average 336000 billion yen in february compared with 337100 billion yen in january
todd shipyards tod omits commmon dividend
worldwide production by the consolidated subsidiaries declined to 341 mln barrels last year from 362 mln in 1985 and upward revisions in previous reserve estimates rose to 143 mln barrels from 117 mln respectively
united a savings bank with 607 mln dlrs in assets and 23 offices will operate as a wholly owned subsidiary rainier said
nzealand reserve bank gives bond tender details
on the demand side developments in automobiles and packaging bode well for secondary aluminium consumption
chigaga said that britain was now considering its stand following representation by the zambian government
the ccts were priced at 9900 pct for an effective net annual yield on the first coupon payable april 1 1988 of 985 pct
options business has been hurt by lack of liquidity from pension funds which currently are forbidden to invest in these instruments
telecom tele says sale closing delayed
he added that the adoption of the new agreement attests to the importance of rubber and confidence in the rubber industry
southam said the newspapers the herald the lance and metro one will be printed at its canadian publishers division in winnipeg
toronto dominion bank nassau branch has increased its eurobond offering to 50 mln australian dlrs from 40 mln lead manager hambros bank ltd said
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
according to one western envoy an expert on polish economic affairs it extrapolated 1979 information on growth trends in trade with the united states as well as increases in credits from western commercial and government lenders
i dont think he can last four years marshall goldman of harvard university told a congressional hearing
seaman furniture co inc seam 3rd qtr jan 31
he also said that as a consequence of the dollars decline and oil price rises inflation would rise moderately to a 35 to four pct rate in 1987
the debentures have an 11 3 4 pct coupon and were priced at 9950 drexel said
the us and brazil the largest coffee importer and exporter respectively each laid the blame on the other for the breakdown of the talks
the bank of england said it had revised its estimate of the shortage in the money market today up to 115 billion stg before taking account of its early operations
for the nine weeks total sales rose 43 pct to 101 billion from 964 mln dlrs
trading in either crude palm oil cpo or refined palm oil may also be introduced
the rules would not apply to syndicated loan facilities revolving credits or commercial paper the bank said
consumers are due to meet before the council
no date has been set for the talks the spokesman replied to a query
however he complained that congress had not yet approved those measures
it has an average life of 711 years and matures 2018
a taft spokeswoman referred all questions to tvx and salomon
for the first half of 1986 quaker reported net income of 260 mln dlrs on sales of 4735 mln dlrs
canadian imperial bank of commerce 1st qtr
the french finance ministry said the commission to be composed of businessmen was agreed during talks between foreign trade minister michel noir and yugoslavian minister without portfolio egon padovan
the two year notes and the four year notes will be issued march 31 and the seven year notes april 1
most believed the fed had targetted a two week borrowings average of around 500 mln dlrs
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
payment for it is due five weeks later and it will be open to them to withdraw their offers at any time between april 1 and the official payment date when the commission officially takes ownership of the sugar the officials said
although the sec recently signed an accord with britain aimed at improving cooperation between the two countries in investigating securities law violations the sec official said it did not need to rely on uk authorities in this case
visual also said about nine mln dlrs of its debt has been converted to equity
first bank systems inc in reporting higher first quarter net said that if interest is not paid on the 140 mln dlrs in brazilian loans and nine mln dlrs in ecuadorian loans for the rest of 1987 its profits for the entire year will be cut by 69 mln dlrs
italy says g 7 gives chance to verify tokyo accord
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
the federal reserve is not expected to intervene in the us government securities market to add or drain reserves economists said
reuiter
standard and poors noted that resorts international remains highly leveraged with significant near term financing requirements for the completion of its new casino hotel in atlantic city the taj mahal
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
ccr video cccro in talks on being acquired
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
suffield financial ssbk gets fed approval
international thomson organisation ltd year
italian net reserves rise in february
the fall brought the rate to 914 pct was the lowest since december 1977 it said
several hundred vessels have been confirmed hit in the gulf by iran and iraq since early 1984 in the so called tanker war an offshoot of their 6 1 2 year old ground conflict
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
moodys investors service inc said it downgraded 34 billion dlrs of debt of beneficial corp
london coffee prices closed at 1276 stg a tonne today down from around 1550 at the beginning of march
balladur sees only two pct french growth in 1987
international orders increased with the greatest strength in europe honeywell said
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
it said the louisiana properties had proven reserves at year end of 11 billion cubic feet of natural gas and 85000 barrels of oil condensate and natural gas liquids
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
the latest rescheduling is for the shipping to hotels conglomerate redec
bankamerica corps bank of america unit said it completed the previously announced sale of bankamerica finance ltd to bank of ireland for an expected pre tax gain of 23 mln dlrs
the philippines meets the first two criteria but not the third
at that price the 14 mln reebok shares pentland will sell are worth about 64 mln dlrs and the three mln shares reebok will sell are worth about 1365 mln dlrs
the united states has said it will only be able to support a level close to the sixth replenishment of funds which came to 157 billion dlrs unless its proposals are accepted
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 usda secretary would not say how big a share of the japanese rice market the us would request
the report which will focus on the cost of certificates compared to cash is scheduled to be released in mid march
iran selling discounted crude japan traders say
they suppose that because kuwait has the ability it will do so the minister said
the company said the grinding division had sales last year of about 18 mln dlrs
the us cannot intervene on its own account because of the strength of protectionism here said albert soria of swiss bank corp
rising taiwan dollar causes foreign reserves loss
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
the warrants are exercisable from may 21 1987 until april 23 1992
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
the discussion document aimed at preventing a cash row at the summit and breaking the deadlock at this years farm price talks contained the first formal reference to dropping the measure
using as a reference the key three month sterling interbank rate as quoted in london lawson said britain now had a real interest rate level of 575 pct the same as japan did and only a 075 percentaage point above the group of five average
banks made heavy use of the lombard emergency funding facility to meet month end payments and borrowed 31 billion marks a rise of 29 billion over the week before
australia and new zealand banking group ltd anzas said it will lower its australian prime lending rate to 18 pct from 1825 effective april 6
amro bank plans 300 mln guilder 675 pct bonds
nevertheless we expect to find enough common ground by the end of the week to at least present a common european community ec view at the next meeting of consumer members of the international coffee agreement ica in july one trader said
bombay cury bases growth on location costs
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
this is what is produced in excess of the basic area needed to meet the ec a and b quotas which receive full and partial price support respectively
it said this restructuring will adversely affect its first quarter earnings but it said it expects to realize a significant savings in operating expenses through the remainder of the year
dealers said life insurance firms were not major sellers of dollars in recent trading sessions because they had already sold them to hedge risks
you probably wouldnt see as much of a price decline said gartner group analyst fritz ringling
loan loss provision 100000 dlrs vs 77 mln
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
he did not give figures for the fourth quarter of 1985
imports of soybean oil are estimated at 200000 tonnes also unchanged from last year
wall street market analysts said two changes in the components of the dow jones industrial average were part of a shift away from smokestack industries that have long dominated the 30 stock index
damages was estimated at 800000 dlrs in the dynamite blast yesterday at chacapalca where the explosion wrecked the train laden with minerals and 45 metres of the railway line
major nations must act on currencies miyazawa
the office said final figures for march will be released in about 10 days
piosec pioal acquires semiconductor stake
the 20 cent par value shares will be offered at 22 cents to shareholders registered april 3 nbh said in a statement
arbed had managed to make a 890 mln franc net profit slightly down from the 112 billion profit in 1985 thanks to lower raw material costs and prudent management the company said
stars to go inc said it completed its acquisition of 650 video centers previously owned by cvs international inc and located in circle k corp ckp stores
merry go round enterprises inc mgre 4th qtr
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
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
in an official notice released today the bank said there will be no formal or informal underwriting arrangement for the auctions but the bank encourages all gilt edged market makers as part of their commitment to the market to participate actively in the auction process the bank was originally believed to have favoured requiring the dealers to underwrite auctions which are patterned after those in the us treasury market
the company also said none of the material was discharged within 12 miles of the closest shoreline
the department said the bonus was 23391 dlrs per tonne and was made to international multifoods corp
the issue is callable after three years at 104 pct declining by 1 2 pct per annum to par thereafter
gamma biologicals inc gamao 4th qtr march 31
network said it is taking the charge due to the significant increase in accounts receivable which remain uncollected for more than 90 days after billing
woolowrth said as a result of the tender offer and options which it has exercised to purchase armel stock fww acquisiton corp a woolworth unit today expects to own about 9175 pct of amrels outstanding stock
mclean said its shipping units are returning the vessels operating in foreign commerce to united states ports to permit the planned transfer to purchasers
dealers said this was clearly a move to appease us anger over the most recent west german interest rate rises
he predicted that prices would recover again in the third and fourth quarters of 1987
apple bank for savings applo 3rd qtr net
industry analysts said japans ministry of international trade and industry or miti had requested the cut backs in production to meet the terms of last years semiconductor accord with the us the reagan adminsitration recently proposed tariffs on japanese electronic goods alleging that japan had failed to live up to the accord and continued to dump the computer components in the us market
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
expanding global links between futures markets mean that the singapore international monetary exchange simex must add chicago and london to its list of rivals banking sources said
the special dividend is to be paid july 27
the reagan administration has predicted the trade deficit which soared to record levels last year will improve this year and the us economy will grow by a respectable 32 pct for the year compared with a 25 pct rate last year
proposed offerings recently filed with the sec
general motors corps hughes aircraft co said it named albert wheelon as chairman and chief executive officer succeeding allen puckett who retired after more than 38 years with the company
french household consumption falls in february
but prawiro was quoted by indonesian newspapers as telling president suharto that inflation was kept to around nine pct in the financial year ending tomorrow against around 43 pct the previous year
he said this was the first of two planned sales of corporate issues from the funds portfolio
shr 16 cts vs 23 cts net 385747 vs 549928 revs 105 mln vs 9037596 year shr 40 cts vs 58 cts net 946024 vs 1352709 revs 362 mln vs 306 mln
de kock interviewed on state run television gave no breakdown of the reserves
the group also said in a filing with the securities and exchange commission that its members would not without morse approval buy or offer to buy any company securities giving the group a 10 pct or more stake in the company
german industrial output rises 32 pct in february
but europe and asia were potential trouble spots and kuwait was one of the most obvious targets
bangladesh police mounted a cross country hunt for defaulters on bank loans arresting four industrialists and issuing arrest warrants against 50 others for failure to repay overdue obligations
union carbides subordinated debt was upgraded to bb minus from b
after that any remaining exposure from unsold securities will be assessed at their full face value
nobel and financiere robur are issuing french franc domestic bonds with share warrants according to announcements in the official bulletin balo nobel is issuing a 200 mln franc 10 year bond with a 55 pct coupon in 1000 franc denominations to which existing shareholders will have subscription rights in the ratio of one bond for every 120 shares held with a nominal 10 franc value
salomon said in a filing with the securities and exchange commission today that it has 21978 of the debentures
fed says it sets 15 billion dlrs of customer repurchase agreements
freddie mac said buy selling 400 mln dlrs worth of mortages it makes more mortgage money available
year 1986 shr 3354p vs 342p
safricas financial rand seen headed higher
brazilian inflation lower in february
the dealers have got historically small positions in outright terms one trader said
bermuda star line inc said it has leased a 23500 ton passenger vessel from orley shipping co inc of liberia for a term with options extending for 15 years
mitsubishi ny branch sets us cd note program
emery eaf plans purolator pcc asset sales
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
the rating agency said its review is focusing on the effects the acquisition is likely to have on resorts internationals leverage and ability to service its debt
japan housing starts rise in february
however the intervention failed to boost the us currency significantly from the 14220 yen level they added
foreign incoming orders rose despite economic difficulties in developing countries and opec nations hit by lower oil prices bilfinger und berger said
india is searching for non communist countertrade partners to help it cut its trade deficit and conserve foreign exchange
oper shr profit 12 cts vs loss 115 dlrs oper net profit 300286 vs loss 2855887 revs 2456616 mln vs 2979206 avg shrs 2527720 vs 2482197 note 1986 earnings exclude extraordinary gain from forgiveness of debt through reorganization under chapter 11 of 280505 dlrs or 11 cts a share
what we want is to make sure newfoundlanders and british columbians and albertans and others that they get their chance
as a result the banks net income for the first quarter will be reduced by about 40 mln dlrs
caisse daide a lequipement des collectives locales caecl is issuing a 12 billion yen eurobond due march 31 1994 paying 5 1 8 pct and priced at 102 pct lead manager mitsubishi trust international ltd said
separately deluxe said its data card investment no longer fits its business strategy
belgian says ec would react to textile bill
todays data showed that the draining action was for a fairly large 39 billion dlrs economists said
the company also said it expects to conclude soon its current negotiations with its primary lenders for extension of its loan agreements and expansion of its credit lines
the chariot group inc cgr 3rd qtr net
roeller said the debt crisis could only be solved in coordination with governments international organisations such as the world bank and the international monetary fund and creditor banks
syndication for elders ixl ltds elxas 100 mln australian dlr note issuance facility has been completed arranger westpac finance asia ltd said
despite the recent announcement of the suspension of interest payments by brazil virtually all of the banks loans to this country were income producing up to january 31 1987 and there was little adverse impact on the banks earnings prior to the announcement commerce bank said
chile signs debt rescheduling agreement
it said the redemption price is 10372 dlrs a share plus accrued and unpaid dividends from april one to may one of 68 cts per share for a total of 19440 dlrs a share paid to shareholders
the department said the introduction of higher priced spring merchandise particularly mens clothing was responsible for the advance
september production was also sharply higher at the statfjord field
close links with the powerful political faction of the ruling liberal democratic party ldp nurtured by former prime minister kakuei tanaka are another key to mpts influence the analysts said
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
it noted the growth rate had slowed from 45 pct in the third and fourth quarters of last year
in the primary market activity again centred on currencies other than the us dollar dealers noted
duff and phelps said it is upgrading to its highest level duff 1 one plus from duff 1 the rating on about 836 mln dlrs of philip morris companies inc commercial paper
mtech mtch has 33467 commercial shares
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
mees newsletter says oman offers oil discounts
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
italys budget ministry said yesterday that gdp rose 27 pct in real terms in 1986
dow chemical co said it has agreed in principle to sell its industrial chemicals and plastics business interests in south africa and related assets to a group of south african investors for undisclosed terms completing the sale of the companys south african assets dow said it will continue to support its educational and health programs for south african blacks
indonesias exports of tea and cocoa will continue to rise in calendar 1987 but coffee exports are forecast to dip slightly in 1987 88 april march as the government tries to improve quality the us embassy said
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
the federal reserve will purchase approximately one billion dlrs of us treasury bills for a customer after the treasurys auction of four year notes a fed spokesman said
in fiscal 1986 ending last january its revenues rose to 879 mln dlrs from 213 mln dlrs the previous year
in 1986 chemlawn earned 119 dlrs per share for the full year and 258 dlrs in the fourth quarter
foothill said the arrangement also bars santa cruz and sierrita fron tendering any foothill securities owned by them into any tender offer unless certain unspecified conditions are met
west texas sour was up 10 cts to 1660 dlrs a barrel
shr profit seven cts vs loss 24 cts net profit 650000 vs loss 2327000 revs 343 mln vs 370 mln nine mths shr profit 38 cts vs profit 67 cts net profit 3673000 vs profit 6474000 revs 1084 mln vs 1100 mln note 1987 qtr and nine mths includes gain 5360000 dlrs or 55 cts per share and 6339000 dlrs or 65 cts per share respectively from realized gains on investments
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
us at un claims self defense for gulf attack
cold storage report for bellies neutral negative
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
twa confirms ownership of 15 pct of usair group
the bonds bear a 7 1 2 pct coupon and were priced at 99515 to yield 35 basis points more than comparable treasury securities
moreover as the first major package built on us treasury secretary james bakers strategy of offering loans to countries willing to implement market oriented pro growth policies intense market scrutiny was only to be expected
coffee earnings were down to 110 mln dlrs against 295 mln in february 1986 because of lower prices he added
the philippines posted a trade deficit of 68 mln dlrs in january compared with deficits of 57 mln in january 1986 and 28 mln in december government figures show
they said lukman who is also nigerian oil minister made the remarks whilst talking about the connection between third world debt and industrialised nations
shr loss 10 cts vs loss 38 cts net loss 393241 vs loss 1384334 revs 436 mln vs 403 mln
the firm however is supplying temporary financing and sources close to the transaction disputed the claim that the firm will not end up paying for its equity position
shr nil vs loss 14 cts net 1697000 vs loss 419 mln revs 12 billion vs 11 billion avg shrs 2764 mln vs 2856 mln nine mths shr profit 13 cts vs profit 56 cts net profit 368 mln vs 1615 mln revs 34 billoin vs 38 billion avg shrs 2782 mln vs 2889 mln note 1987 3rd qtr includes 1526 mln dlrs for continuing operations which includes a 69 mln dlrs after tax gain on sale of companys investment in compagnie luxembourgeoise de telediffusion
banner industries inc said it completed the purchase of all rexnord inc rex common shares for its 2625 dlrs per share cash tender offer that ended feb 27 1987
it notes that other favorable strategies include foreign investment debt equity swaps already successfully experimented with in some countries
there will be increasing momentum in earnings albeit not until later this year martin said at a technology conference sponsored by the investment firm
wisconsin power and light co wpl votes payout
the radio said the spokesman made the statement following the attack on a kuwaiti ship under the us flag and comments by american officials on carrying out retaliatory action against iran the spokesman said any us military aggression against iran will certainly be the beginning of an extensive clash in the persian gulf and amidst this our principled policy is to confront any act which escalates tension
ussr adds us corn to commitments usda
the pound finished trading here today at 16040 50 dlrs and 29210 45 marks
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 
the bank of france is likely to cut its money market intervention rate by up to a quarter point at the start of next week
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
the bulolo field in morobe province was the first successful gold mining operation of placer development ltd after it was floated in canada in 1926
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
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
overall the year had not been a good one with upstream operations dramatically hit by the fall in crude oil prices and downstream operations also affected in the first half by large losses on inventories
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
a statement from oil said the 10 year loan carries a rate of interest 05 pct below japanese long term prime
one grain vessel was awaiting berth at bahia blanca four at buenos aires and five at rosario on march 31 national grain board figures show
consumer demands for tighter buffer stock controls aimed at preventing inra from following the collapse of the international tin agreement ita were rejected by producers who argued for unchanged inra terms
viceroy resource corp said recent drilling on the lesley ann deposit extended the high grade mineralization over a width of 600 feet
china has resumed repairs of soviet ships after a 23 year break caused by the ideological split between the two countries
area planted is expected to increase by 10 pct in both 1986 87 and 1987 88
he said a meeting of the opec differentials committee had been postponed because there is no need for the meeting he did not elaborate
1986 excludes extraordinary gain of six cts per share in the quarter and 10 cts in the six months
syngold defines reserves on deka property
it said takeovers appear to be on the decline this year
zinc producers approach ec on voluntary closures
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
it said the mine would be operated by a contract miner but the associated mill by geodome
it said the operations being sold accounted for about five pct of revenues for the year ended february 28 and lost money
james river corp jr sets regular dividend
if a transaction takes place the buyers going to control the situation freedman said
tighter availabilities of products as a result of the shutdowns in the med is helping to keep products markets bullish particularly for march deliveries oil traders said
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
the last series of six month paper issued in january raised 1596 mln francs at 98392 pct to give an average yield of 3251 pct
a major report is expected to be issued in washington soon
avinda said the debt conversion will inject 3140000 dlrs of equity into the company increase net book value per share to 22 cts from five cts and reduce annual interest costs by 428000 dlrs
heymann expects ge to earn 139 dlrs per share in the first quarter of 1987
schweizerische aluminimum ag aluzz alusuisse may be able to break even this year after cleansing its balance sheet for 1986 chief executive hans jucker said
corning glass works said the exchange ratio for its previously announced acquisition of hazleton laboratories corp has been established at 05165 corning common share for each hazleton common share
snyder soi buys stake in cenergy
amvestors financial corp said it declared a 25 pct stock dividend payable june 19 to holders of record june one subject to an increase in authorized shares
relying on depreciation of the dollar alone would risk renewed inflation he said
union electric seeks 150 mln dlr loan facility
paint company has metex mtx stake may buy more
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
us declines comment on schlumberger slb move
in connection with the investment the company said it will restructure its board
lord abbett and co declares mutual fund divs
edelman and his group said his terms held until the earlier of 90 days from march 3 or the date on which morse announces a definite agreement for its sale
there is nothing better than a free trade policy he said
the statement said a new private company transcapital corp ltd fully owned by rainbow directors craig heatley gary lane and ken wikeley will purchase this stake for an undisclosed cash sum
initial products to be developed will be gate arrays with 500 to 2500 gate complexity and radiation hardening capabilities the company said
details of the venture to be based on exxon chemical technology will be set later the companies said
a statement will be made afterwards
although most provisions do not single out japan in many cases their impact would be to restrict imports of japanese products or make them more expensive with higher duties
the six month bills rose one basis point but three month bills fell 17 basis points and the year bill fell two basis points
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
cornucopia resources ltd said an extensive drill and sampling program will begin in mid april at its ivanhoe gold property in north central nevada
the bank of england said it had provided the money market with 16 mln stg help in the afternoon session
this will be a difficult budget for the opposition labour party to attack shepherd said
the balance of payments would see a sharp decline in the surplus to six billion guilders in 1987 compared with 121 billion last year the cpb forecast
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
cathay pacific 1986 profit seen above target
prior year net both periods includes pretax asset writedowns of 1146 mln dlrs and additions to reserves of 600 mln dlrs
if at least 90 pct of argosystems shares are tendered it said it will buy all shares but if less than 90 pct are tendered it said it plans to buy only 49 pct in the offer
a spokesman for one of spain top five banks said higher overnight call money rates were expected in the short term in view of disappointing money supply figures for february
the agreement between norstar and fleet includes a lock up option designed to deter other acquirers
pillsbury also reported lower profits at distron burger kings distribution arm and said increased investment spending on developing concepts quikwok bay street and key west grill hurt results
the problem is that the changes needed in fiscal and trade policies to redress current imbalances are of a different timescale than currency markets operate on the source told this is a political process which takes time alois schwietert chief economist at swiss bank corp in basle also questioned the tone of disappointment evident on currency markets today
p and o is considering listing its shares in japan and other important overseas financial centres the statement added
the officer said heavy frosts at night followed by sunshine during the day led to some heaving particularly for well developed plants and for winter barley
shr 595p vs 441p div 225p vs 20p pre tax profit 116 mln vs 91 mln tax 42 mln vs 36 mln turnover 2563 mln vs 1853 mln note company said it was unlikely second half profits will show same rate of increase as first
revs for qtr include capital gains of 3049564 vs 2010972 and for year of 9841204 vs 5798995
the bonds will be sold in denominations of 5000 dlrs and will be listed in luxembourg
fed sets 25 billion dlr customer repurchase fed says
technigen platinum corp in metals find
he said exports could surpass the average annual 18 mln bags mark especially if the final harvest to be conducted in october and november confirms the crop at over 35 mln bags
non callable for three years the issue is rated ba 2 by moodys investors service inc and bbb by standard and poors corp
for the most part the trade bills provisions toughen us enforcement of trade laws
those seeking to join are general electric co gen ford motor co fn citibank na bankamerica corp bacnyse shearson lehman bros inc saloman brothers asia boeing computer service unisys corp uisn societe generale and deutsche bank ag dbkgfra the merger plan has been criticised for excluding foreign firms from a meaningful position in the market
japan currently restricts imports of 22 agricultural products
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
the commerzbank statement added the distributable profit last year rose to 2282 mln marks from 1617 mln in 1985
anova ventures corp said its board declared a dividend payable in the form of registered shares of stock in duvel corp a blind public pool
the most seriously affected fields were late seeded fields on normal maize soils
the group earlier reported a 19 pct rise in profits to 139 billion which sheehy said was achieved without any help from exchange rate fluctuations or acquisitions
kobena erbynn of ghana in the post
he said its not presidential lyng said
us sales now account for 65 pct of total turnover finance director john edwards said
he said opec had to look very carefully at what level of production in the third quarter would effectively sustain the 18 dlrs price and that an increase to what had originally been envisaged might soften price levels
hadson corp hads 4th qtr net
the issue matures on april 15 1992 and is priced at 8122 pct
ico pact unlikely by autumn italian adviser
i had to spend 600 yen today to dry clean my suit coat he said
in april monthly inflation reached 21 pct
we naturally share the concern of saudi arabia and other opec members about the harmful effects of oil market volatility for both producer and consumer countries thatcher said
i would expect the efforts for a further tax reform would mean government borrowing will increase the manager said
last week waste management made a tender offer to acquire chemlawn for 27 dlrs per share or 270 mln dlrs
fekete said hungary was hoping for a hard currency trade surplus of between 200 and 300 mln dlrs this year but that a more likely outcome would be closer to equilibrium on total hard currency trade of around 10 billion dlrs
ameritrust also said it will submit for shareholder approval an amendment to the companys charter regarding liability and indemnification of directors and a recommendation to create a classified board
however he said that sole reliance on dollar depreciation to reduce our trade deficit is not desirable as it risks inflation in the united states and recession abroad
geronimus said the banks future aim would be to reinforce its existing strong points with no major projects planned apart from the opening soon of a basle branch
champion parts creb asks declaratory judgment
shr 18 cts vs 13 cts net 5436000 vs 3888000 sales 439 mln vs 315 mln avg shrs 30145000 vs 28976000 nine mths shr 51 cts vs 38 cts net 15320000 vs 11098000 sales 1236 mln vs 912 mln avg shrs 30157000 vs 29046000 note earnings adjusted for three for two stock split paid june 20 1986
engelhard corp ec sets stock split
lloyds investment managers ltd a london based investment firm said it raised it stake in italy fund to 760500 shares or 120 pct of the total outstanding common stock from 466000 shares or 74 pct
st
x includes imports hard spring 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 498 498 371 371 production 451 451 460 460 ttl supply x 956 956 838 838 domestic use 218 192 174 174 exports 200 190 166 166 total use 418 382 340 340 end stocks 538 574 498 498 note season begins june 1
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 company said the purchase is subject to approval of the boards of first southern and victor and regulatory agencies
us corn sales to tunisia morocco and other north african countries may face increased competition from european community ec corn sales the us agriculture department said
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
the bank of france said it left its intervention rate unchanged at 7 3 4 pct when it injected funds to the market against first category paper in todays money market intervention tender
ford f selects firm to automate plant
crepe one was traded at 2068 and crepe two at 2045 rupees
wheat buying however is a different story melnikov said
japan bought 4000 tonnes of canadian rapeseed overnight at an undisclosed price for last half may first half june shipment trade sources said
a preliminary injunction would hold up samjens 247 billion dlr offer until the case is decided
shr profit one ct vs nil net profit 74000 vs profit 10000 revs 925000 vs 112000 avg shrs 10 mln vs nine mln six mths shr loss nil vs loss one ct net loss 16000 vs loss 90000 revs 1855000 vs 333000
high aggregate demand arising from low inflation trade liberalisation and disciplined financial management are expected to increase output in the manufacturing sector he said
cathay last week reported 1986 profits climbed to 123 billion dlrs from 777 mln in 1985 partly because of lower fuel costs and greater traffic
shr 656p vs 5031p final div 6p making 8p vs 13p
shr 23 cts vs 28 cts net 8877000 vs 9530000 revs 342 mln vs 2789 mln avg shrs 394 mln vs 34 mln year shr 191 dlrs vs 162 dlrs net 705 mln vs 505 mln revs 13 billion vs 9905 mln avg shrs 37 mln vs 313 mln note on dec one 1986 company acquired holt rinehart and winston and wb saunders and the dryden press and their foreign subsidiaries
bayerische vereinsbank ag bvmgf expects to pay an unchanged dividend of 13 marks on 1987 earnings but profits will only barely reach last years record levels management board spokesman maximilian hackl said
i dont see this as a trade issue
canada panel advises cutting us corn duty
northern indiana ni 12 mths feb 28 loss
bankers could not back down either because they would have had to sacrifice millions of dollars in profits and may have thrown the door open to other debtors notably argentina and brazil to claim even finer spreads than mexicos
a separate 245 pct import tax on crude oil is unchanged
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
tandy corp tan 1st qtr sept 30 net
the widespread belief that new zealands problems are going to take much longer to solve than was originally thought is soundly based primarily because the governments macro economic policies have been unsuccessful bayliss said
lsi logic llsi sets 100 mln dlr debt offer
the company said in a statement that parent company net profit last year will rise from the 72 billion lire reported in 1985
family health systems inc fhsy 2nd qtr feb 28
the securities are available in denominations of one mln yen each and will be listed on the luxembourg stock exchange
allied lyons will also have a full year extraordinary cost of slightly more than seven mln stg for defence costs associated with elders ixl ltds failed take over bid for the company holden brown also said
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
canada february unemployment falls to 96 pct from january 97 pct statistics canada said
nogales said the paris club had agreed to reschedule bolivias debt over 10 years with five to six years grace and had waived all interest payments until the end of 1988
the united states has signed a public law 480 agreement with honduras to provide for the sale of 120 mln dlrs worth of us agricultural commodities the us agriculture department said
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
it hasnt been abolished at all he told in an interview
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
the company will register a proposed offering with the securities and exchange commission for 20 to 30 pct of the health clubs soon spokesman william peltier told 
banks had also cut credit lines it said in court filings
cook strait ferry sailings resumed after marlborough harbour board workers returned to work this morning ending their industrial action a day early
telco systems inc telco 3rd qtr may 31 loss
representatives from nigeria are meeting today and tomorrow with officials of britains export credits guarantee department ecgd in the first of what could be a series of bilateral talks to reschedule nigerias official debts banking sources said
then banks would lift prime rates quickly
eastover corp easts 4th qtr net
shr 15 cts vs 10 cts net 1790824 vs 1031602 revs 140 mln vs 67 mln nine mths shr 41 cts vs 23 cts net 4830513 vs 2296192 revs 405 mln vs 154 mln avg shrs 120 mln vs 105 mln
terms of the transactions and other parties involved were not disclosed
morbelli noted chemlawn competes with thousands of individual entrepreuers who offer lawn and garden care sevice
the telexes have fueled rising world prices in the last week and reflect a poor cuban crop worry over brazils export availability and increasing soviet demand analysts said
sama lowered the offer price on the 500 mln riyal issue to 9839844 from 9845313 last monday
we plan to do more said mangan director of corporate financing
the coupon has been fixed at 5 1 4 pct compared with the indicated range of 5 1 4 to 5 1 2 pct
cut were bankamericas senior debt to ba 1 from baa 3 subordinated debt to ba 3 from ba 1 preferred stock to b 1 from ba 3 and commercial paper to not prime from prime 3
the national planning department forecast that in 1987 coffee will account for only one third of total exports or about 15 billion dlrs with oil and energy products making up another third and non traditional exports the remainder
the 600000 bonds of a nominal 5000 francs are identical to those of the bfce five billion franc 850 pct january 1987 issue bringing the total of the issue to eight billion francs
the new proposal also included a bonus system of 1000 dlrs for workers who had been at the plant for two years zack said
last week ecuador suspended interest payments to private foreign banks which hold about two thirds of its total 83 billion dlr foreign debt citing severe damage to its oil industry caused by an earthquake
a senior ministry official welcomed the scheme and said it may encourage new lending to developing countries
baker said in the newspaper interview that it was a subject i prefer not to talk about he said that if he explained why the us agreed to help maintain the dollar at current levels i would of necessity end up getting into some of the private agreements that support such and agreement on the dollar
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 increase in canadian shipments comes at a time of growing anger in the us over rising steel imports from several countries in the face of a decline in the domestic steel industry
nationwide had 1986 property casualty loss
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
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
morrison inc morr 3rd qtr feb 28 net
waste management wmx seeks suits dismissal
the operation will raise the outstanding supply of the bills to a record 4800 billion yen
day intl day to sell unit
fees total 2 1 2 pct with 1 1 2 points for selling and 1 2 each for management and underwriting
nimit nonthapanthawat chief economist at the bangkok bank ltd said thailands strong export performance its relatively high interest rates foreign participation in its stock market and growing foreign investment especially from japan contributed to the projected sharp rise
the management fee was not disclosed and syndication is expected to close tomorrow
usage in february comprised 166 mln lbs of edible products and 54 mln lbs of inedible products
agricultural subsidies and trade barriers have created a vicious circle which continues to cause problems of overproduction and low commodity prices carney told the house of commons
now its largely out of their hands said kleinwort benson ltd financial analyst simon smithson
bank of china takes stake in baii holdings
northair nrmto opposing norquest nqrlf bid
construction of the 510 mln yuan plant began in april 1984
but there may be interest rate consequences from changes in the level of government borrowing he added
the company said manufacturing of mining machinery and tunnelling equipment showed greatly improved results in the us and export markets mainly china and india
sprinkel urges greater growth in japan europe
reagan announced last march 27 he would impose the tariffs on certain goods taken from a list that ranged from computors and television sets to power tools and photographic film
zehntel zntl files for debt offering
the market is taking a breather now and i would expect it to last a little longer said craig sloane a currency analyst with smith barney harris upham and co
it said the caisse and institut merieux will each buy 275 mln common shares of the company for 3076 dlrs a share
american motors said earlier than an arbitration award made to emerson electric co emr in february amounted to 60 mln dlrs plus legal expenses
qtly div seven cts vs seven cts prior payable april 28 record april three
but us officials said recent market developments will not unravel the spirit of the paris agreement
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
commercial paper outstanding nationally fell 480 billion dlrs to 33428 billion
caesars world inc said it filed a lawsuit against martin t
senate staff members said the bill still in the drafting stages had broad support and was expected to be approved by the committee tomorrow
kohlberg kravis roberts and co also owns 497 pct of union texas and the remainder is owned by management
industrial production and the producer price index friday both are expected to show increases of about 05 pct she added
orders especially from abroad were also falling sharply for capital goods in the electronics sector it added
how can there be a program if there is no finance she said adding ongpins stand was not good for the economy
indonesian president suharto set up a high level team in july last year to speed up projects using adb funds
metallgesellschaft ag metgf 
relations between the government and farmers have become strained in france in recent months
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
chinese vice foreign minister zhou nan and the ecs external relations commissioner willy de clercq signed the accord
domtar to issue 100 mln dlrs of debentures
two days of talks between management and unions to try to end the 3 1 2 month labour dispute at cargill uk ltds oilseed crushing plant at seaforth ended yesterday without resolving the situation a company spokesman said
it said it sees applications in airport security screening devices medical diagnostic imaging systems and quality control devices
analysts are looking for build of between 35 mln barrels to a six mln barrel draw for the week ended march 27
uk central bank warns of excessive rate cuts
sources at the banks london branch said the bank was already seriously planning such a move
the bug caused a rebellion among dealers who demanded greater freedom from restrictions placed on them by the major american automakers says jauppi
investment tax credits three mln dlrs vs 8900000 dlrs in quarter and 4900000 dlrs vs 164 mln dlrs in year
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
taiwans m 1b money supply rose a seasonally adjusted 4822 pct in the year to end february after rising 5496 pct in the year to january a central bank spokesman said
money growth has been slowing perceptibly in march which should give them more room to not tighten she said
sheehy said he could see the tobacco portion of the company declining further as other sectors increased in importance
the cbts action was made possible by a ruling last week by the securities and exchange commission sec which removed a key regulartory obstacle to trading futures on foreign debt securities on us exchanges
analysts expect the higher prices to continue until soon after the opec meeting
imports in october totalled 23803 tonnes compared with 4685 tonnes in the same month of 1985 while november imports were up to 136029 tonnes from 46541
britain also believed an imf program would help along negotiations between brazil and the commercial banks the statement which banking sources interpreted as an outright rebuttal of all brazilian demands said
the brazilian government has already agreed to invest an additional 65 billion yen in albras in which investment now totals 932 billion yen but its stake will not change from 51 pct the official said
gross profits for the previous year had been 3825 mln francs with 314 mln subtracted for depreciation including 45 mln francs supplementary depreciation
he said the two firms will form a marketing company in japan as early as next year although details of the joint venture are not yet fixed
in the latest us japan trade row president reagan has threatened to raise tariffs on selected japanese electronic goods by as much as 300 mln dlrs alleging that japan has failed to abide by a 1986 us japan pact on microchip trade
the acquisition would contribute between five and 10 pct of b and cs share earnings in 1987 on a proforma basis
volcker warns against sizeable dlr decline
wilson brothers completes sale
the united states africa and latin american are brazils main fuel buyers the spokesman said
norddeutsche affinerie will then be owned 40 pct by metallgesellschaft ag metgf and 30 pct each by mim and degussa but mim said it and metallgesellschaft are proposing a further arrangement to give them 35 pct each
the commission has held several hearings with the industry and approval should be given this month the sources said
specialty composites corp spcmo 3rd qtr net
next wednesday 149 billion marks are leaving the system on the expiry of a securities repurchase pact
honeybee inc hbe 4th qtr net
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
texas air has guaranteed the scheduled payments of interest and principal for the senior notes
market loan could be pinned to us trade bill
hongkong bank of canada 1st qtr jan 31 net
the company raised 22 pct fuel by 25 cts to 1950 dlrs a barrel
bond corp international ltd said it has sold a residential block at hong kongs mid levels to a joint venture between sun hung kai properties ltd shkphk and new town nt properties ltd for 138 mln hk dlrs
the founding of commerz securities japan co
the eurofranc issuing committee which groups major french banks and the treasury has approved three bonds for issue in april bond market sources said
he said the march drop in industrial activity is a reasonable response in light of the inordinate contribution inventory accumulation made to gnp economists said the employment data also suggest weak gains in industrial production and personal income for march
the stock could be issued in various series with terms rights and preferences designated by the board in each instance utilicorp said
economists estimated that 30000 of the gain was accounted for by striking workers in the steel and machinery industries returning to work
japan and thailand to jointly extract rare metals
qtly div 25 cts vs 25 cts prior pay april 30 record april 16
payments in 1988 were cut to 400 mln from 120 billion and in 1989 to 700 mln from 111 billion
wendys another operator of fast food restaurants rose one to 12 3 4 in active trading
cooper canada said it received takeover offers
rockwell has a net interest charge of 7722 pct for the issue the daiwa officer said
canadian steel shipments to the us have risen to 57 pct cent of the us market in recent months almost double the level just two years ago canadian trade officials said
china imported 69952 tonnes of thai sheet rubber last year and 60296 tonnes in 1985
morgan files complaint against metromedia
however he did not say in his speech to the economic planning advisory council epac if the forecast 225 pct rise in gross domestic product gdp had been revised
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
guardian trustco did not give a specific earnings forecast
tenera said it expects a comparable distribution for the second quarter
linde ag lingf 1986 year
the merger of rexnord with a subsidiary of banner will be copmleted before mid may the company said
kaske said investments were expected to remain around six billion marks in 1986 87 after a 50 pct increase the previous year
zambia to retain currency auction says kaunda
they rejected the companys latest contract offer march 5
western donors still backing zambia says minister
the bond is callable for tax reasons only with a premium of one pct on may 21 1988 and 1989 with a premium of 1 2 pct on may 21 1990 and at par on may 21 1991
itea dunkirk 20000 mt bauxite seven days all purposes 10 13 4
ec officials have said that if the commission has to buy the sugar it is determined immediately to resell it a move which could drive down market prices further
the big producers want to have the ball only in their court and it isnt fair minority producer spokesman luis escalante of costa rica said
the requirement is not expected to affect the number of mexican steers imported into the united states and the brand will be applied before the animals arrive at us ports of entry
mcdonalds an operator of fast food restaurants rose 1 5 8 to 77 3 8
in henan shandong and hebei wheat aphids are affecting 467 mln hectares wheat red mite 28 mln hectares and wheat powdery mildew 17 mln hectares
the stake includes about 151 pct of revlon common and 95 pct of its series a preferred stock he said
there will be co leads
it also said it is studying the 35 dlr a share leveraged buyout offer made by purolator managers and ef hutton lbo inc but has not decided whether it will tender its stock in the offer
tim penny d minn and byron dorgan d nd would raise target prices for wheat to 500 dlrs per bushel and for corn to 350 dlrs
the company has a broad new product pipeline in the industry and as far as i am concerned it is the most innovative company in the business he said
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
coffee deliveries to the state run coffee board of kenya rose 17 pct and tea deliveries rose four pct during the period he said
mci communications corp president bert roberts said he expects mcis financial performance to improve in the current quarter compared to the previous quarter
first american bank and trust fiama year net
proposals to require banks to inform the bank of england in advance of planned exposures in excess of 25 pct of their capital and to have the bank supervise exposures between 10 and 25 pct of capital were not under debate the paper showed
mitsubishi bank mitbt plans 40 mln nz dlr cd
the share analysts say vw will have to dig into reserves in order to maintain the disclosed 1986 profit at 1985 levels
kenyan minister forecasts economic expansion
besides contracts and orders for plant and equipment they were building permits manufacturers new orders for consumer goods a change in sensitive materials prices slower deliveries from vendors and higher average weekly claims for state unemployment insurance
argentine vegetable oils shipments in jan nov 1986
some 45 pct of world tungsten exports come from china but the country imports high grade tungsten products
he said that the company expected net pricing to be higher and unit volume to improve in the remaining quarters of the fiscal year
residential mortgage acceptance inc a unit of residential mortgage investments inc is offering 100 mln dlrs of collateralized mortgage obligations said sole manager merrill lynch capital markets
the philippines earned 488 mln dlrs from coconut products in 1986 up from 477 mln in 1985 ucap figures show
symbol said it issued 550000 of the warrants to reliance in 1985 exercisable at 950 dlrs per share and 60000 in mid 1986 at 14 dlrs per share
the overall january deficit of 148 billion dlrs will be revised but the february figure will be a final one officials said
fhlbb changes short term discount note rates
sen
he said australias concerns centred on coal and beef australias two largest exports to japan and also significant us exports to that country
snc canadas second biggest engineering and construction group became the countrys largest ammunition manufacturer last year with its 90 mln dlr acquisition of canadian arsenals ltd from the canadian government
mthly div six cts vs six cts prior pay march 13 record march two
in 1986 allergan had worldwide sales of 433 mln dlrs
there are difficulties among the banks to reach an agreement and find a unanimous decision marx told a local radio station in a telephone interview from new york
salomon brothers inc acting as sole underwriter said it is publicly offering 50000 units of van dusen airport services co lp the offering consists of 50 mln dlrs of 12 pct senior subordinated notes due 1997 and 50000 contingent payment obligations
the governments banking adviser for the operation was banque privee de gestion financiere bpgf owned by french financier pierre moussas pallas group assisted by britains hambros bank ltd
payment date is april 15
the tokyo commodity exchange for industry tocom which also trades rubber futures in japan said it has no plans to introduce an extra session
the average weekly earnings of us workers after adjustment for inflation and seasonal changes rose 06 pct in february after being unchanged in january the labor department said
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
his disclosure of two of the key targets for sterling was highly unusual foreign exchange market analysts said
the utility which once was south africas largest borrower of foreign funds said prearranged import financing facilities are expected to provide foreign funds of only about 300 mln rand this year
bp to offer 74 billion dlrs for standard shares
the banks reacted on the level of politics to argentina and try to justify it in terms of economics and now theyre going to have problems with both the philippines and venezuela said the source close to the manila government
the strike action was called off on friday after an interim court injunction against the employers plans for 350 redundancies this year
they havent even come up with a plan yet preston said after morgans annual meeting in new york today
wavehill international ventures inc said it has agreed to acquire personal computer rental corp of coral gables fla in a transaction in which shareholders of personal computer will receive shares respresenting about a 25 pct interest in the combined company
world bank expected to approve philippines loan
mars graphic services inc wmd 1st qtr may 31
it allocated 61 billion marks in new liquidity much less than the 149 billion leaving the market as a prior pact expired
richard gephardt d mo to force countries like japan south korea and taiwan to cut their trade surpluses with the us the subcommittee limited the gephardt plan to provide only that the existence of a large trade surplus with the united states will trigger an investigation of unfair trade practices but would not automatically set off retaliation
the company added that results in the us were poor and the deterioration in the south african economy left its falkirk industries unit with a loss of one mln stg
it added that preliminary metallurgical tests from representative bulk ore samples indicate the commercial feasability of producing a zinc and a copper lead concentrate
the arrangement will significantly cut telegraph costs hollinger said
telecom said the proposed amendment would also permit siemens to defer repayment of up to an additional 50 pct of certain intercompany debt until completion of the review
but a european banker said pricing was not an issue in the present market conditions the timing was just not right if banks had more patience they wouldnt launch any issues now and then the market would be all right another dealer said
ceradyne inc crdn 4th qtr loss
therefore while the danger of an oil import fee has been a consideration in the negotiations and it remains to be seen what such a fee would represent we do not foresee any impact on todays agreement adams said
wolverine said the action continues the restructuring operation begun last july to make the company more competitive and profitable
floor traders at the midamerica commodity exchange which merged with the cbt about a year ago said they were preparing to vacate their floor at the end of this month
foster said the amount involved in the discrepancy is about 137 mln dlrs before taxes or about 82 mln dlrs net after tax due to an improper recording of job costs over a period of several years and continuing through part of the first quarter of 1987 stearns is a unit of fosters conergic corp subsidiary
it said the bwb expects the us to be major supplier of the additional 400000 tonnes but commitments for purchase of us wheat through two thirds of 1986 87 year total only 600000 tonnes versus 700000 a year ago
dealers said federal funds were trading at 6 3 16 pct when the fed announced the operation
saito said the most effective government action would be income tax cuts and the postponement beyond next january of a proposed controversial sales tax
gaf has only said it was reviewing the situation
the non callable bond is available in denominations of 1000 australian dlrs and will be listed in london
officials in jakarta said the new pact would bring benefit to indonesias rubber industrys by stabilising prices
managers underwriting 10 to 15 mln dlrs will receive three basis points
dr
the federal reserve entered the us government securities market to arrange two billion dlrs of customer repurchase agreements a fed spokesman said
but the volume effect of falling imports to the us and rising imports to europe would take time to make itself felt compared with the price effect
homestead said the two classes of stock emerged as part of its recapitalization plan which also doubled the number of authorized common comprising both classes to 11 mln shares
it said the facilities which contain approximately 2500 beds in seven western states were bought from don bybee and associates of salemore
last year the house approved his idea to force an annual 10 pct trade surplus cut by those countries
re exports fell by 66 pct resulting in a surge in net imports from 175901 to 251708 tonnes an increase of 43 pct
the bank of england said it had revised its estimate of the shortage in the money market up to 13 billion stg from 12 billion before taking account of its early operations
it added the acquisitions were the first step toward creating an oil and gas exploration and development enterprise
the government has also sent marines into the main ports
parliament passed laws increasing the amounts and frequency of treasury bill issues and allowing the government to raise up to 35 billion dlrs through issues of registered stock bearer bonds and book entry securities
their maturity will be set at the pricing
twa said that in respect to usairs recent offer for piedmont aviation pie it believes that usairs shareholders would prefer a cash merger proposal for usair over its proposed acquisition of piedmont
however if these phrases mean the government of canada means to take important economic issues off the table in these negotiations i am deeply concerned he added
bundesbank board member claus koehler said in a speech that monetary growth resulting from speculative capital inflows required cuts in interest rates
the uk government forecasts that oil revenues will fall to four billion stg in the fiscal year 1987 88 from 475 billion in 1986 87 and 115 billion in 1985 86
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
carmel container systems ltd kml year oper net
bp bp to hold new york press conference
it added that one of the materials cited barite is a naturally occurring mineral routinely discharged into the sea during drilling operations
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
the broken hill pty co ltd brkns nine months
it said the operation accounted for less than two pct of worldwide sales of 45 billion dlrs in 1986
moret was referring to the strong demand for dutch bonds up to and following last years election of prime minister ruud lubbers whose centre right coalition government was pledged to a tight economic programme which bolstered the guilder
theres a sense of urgency here now but the emphasis is on securing not undermining our interests in japan another government official told 
the increase in common shares would cover among other things the exercise of triangle industries incs tri and drexel burnham lambert incs warrants issued in relation to averys 710 mln dlr acquisition of uniroyal chemical late last year
chinas wheat crop this year is seriously threatened by plant pests and diseases the new china news agency said
shr 133 dlrs vs 90 cts net 120 mln vs 8180000 nine mths shr 363 dlrs vs 288 dlrs net 329 mln vs 262 mln
west germany and tanzania have signed an agreement on rescheduling 145 mln marks worth of commercial credits the finance ministry said
frischs restaurants inc frs sets quarterly
for instance if three month libor rises to 15 pct during the life of the floating rate tranche and falls back below the 11 pct cap investors would be paid back dollar for dollar the amount of interest they would have received if the cmos did not carry a maximum interest rate a kidder officer said
he said japanese ore imports in calendar 1987 would total 96 mln tonnes compared with 1035 mln in 1986
it will mature on that day in 1992
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
ammar head of the agricultural research group of the tdri suggested tapioca farmers diversify to other crops
ameritrusts total year end assets were over 111 billion dlrs
analyst edward johnson of johnson redbook associates said sales for march rose an unadjusted 25 to 30 pct and a seasonally adjusted 55 pct to six pct compared to an adjusted 57 pct last year
hog and cattle slaughter guesstimates
dividend 1950 francs vs same
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
but a bottoming out of the economy depends largely on the yens exchange rate trend in the immediate future agency officials said
the average effective rate for adjustable rate mortgages declined 22 basis points to 861 pct the bank board said
valhi said these results were prepared as if the merger had occurred july 1 1986 and on substantially the same basis as the pro forma financial information in llcs and amalgamateds joint proxy statement dated february 10
household international inc said it expects its fully diluted earnings per share for the first quarter to be about 35 pct above the same year ago period
cattle slaughter is guesstimated at about 128000 to 132000 head versus 130000 week ago and 126000 a year ago
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
krieger said the committee is empowered to call a strike if it sees fit but he added were not gun shy and were not strike happy we dont take it lightly he said the union needed time to draft a formal response to the nbc proposal which the network billed as its best and final offer a spokeswoman for nbc said management personnel were prepared to take assume technical duties if its radio and television facilities are struck
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
john cotton an arizona businessman told the securities and exchange commission he has acquired the equivalent of 213500 shares of class a common shares in del e
avg shrs and shr data restated to reflect three for two stock split in january
this compares with a minimum reserve commitment of one mln tonnes which pakistan will maintain at all costs and a strategic reserve target of two mln tonnes
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
secondary market australian dlr bonds ended little changed on the day with dealers saying that operators are awaiting the australian trade figures for march
the planned issue will be of two fixed rate tranches of the 850 pct june 1997 and the 850 pct december 2012 stock and one tranche of the variable rate january 1999 stock
in the past farm interests opposed to cargo preference have been defeated in congress by the maritime interests who view cargo preference as vital to the us shipping fleet
of the total 800 billion yen will yield 36004 pct on sales from money houses to banks and securities houses in 34 day repurchase agreements maturing on august 3
federal states deposits fell 15 billion marks to 13 billion and their cash credits dropped 400 mln to 300 mln
treasury balances at the federal reserve rose on march 23 to 3332 billion dlrs from 3062 billion dlrs on the previous business day the treasury said in its latest budget statement
moodys cited the effects of a weak operating environment on allieds asset quality and profitability
terms of the transactions were not disclosed
trading in hayes common will cease at the close of business today the company said
shr loss seven cts vs loss 23 cts net loss 381000 vs loss 1071000 sales 4531000 vs 4409000 year shr loss 21 cts vs loss 98 cts net loss 1098000 vs loss 4658000 sales 178 mln vs 173 mln
in the longer term capital expenditure will amount to 10 pct of net sales
all taiwans foreign exchange earnings must be converted into local dollars boosting money supply at a time of booming exports
noting the often different reactions of us japanese and european banks funaro told journalists that brazil might adopt an approach involving separate discussions with the regions
us trade representative clayton yeutter said the united states will retaliate if the european community adopts a proposed tax on vegetable oils but he did not say what ec products would be singled out for reprisal
hutchison unit buys container cranes from japan
colt industries inc cot 1st qtr net
american can sees higher 1st qtr yr net
and they have become highly selective over enterprises eligible for new credit after a run of failures that forced heavy loan loss provisions and ate relentlessly into profits
on collateral security it said this should normally only be taken into account when considering the acceptability of a banks exposure up to 25 pct of its capital base the presence of security taken on its own will be considered by the bank as an acceptable reason for an exposure in excess of 25 pct but only in the most exceptional circumstances and even then to a very limited extent it said
they cannot be imposed by the united states alone on the world trading system he said
byers agreed there was potential for the june canadian dollar to rally above the 7700 cent level from the most recent close at 7480 cents to the us dollar
nilsson said the takeover also will provide opportunities to cooperate with the mining and materials handling operations of bolidens parent company trelleborg ab he said allis chalmers was selling out because it needed new cash after suffering big losses in its farm equipment operation
it said seasonally adjusted bank lending at about 29 billion stg in february compared with an average of about 26 billion stg a month over the preceding six months
gruntal financial gru 2nd qtr feb 27 net
the growth rate was outside the expanded target range of three to six pct
the combined offering of 14 billion dlrs was the second largest junk bond deal ever brought to market underwriters and traders said
the washington post today quoted john gaughan administrator of the martime administration as saying kuwait has approached an american shipping company about the possibility of a charter
uk money market given 115 mln stg assistance
but again a lack of hard currencies limited heinekens market potential
congress may very likely look at the soybean loan and decide that they cannot increase it from its current 502 dlr basic rate but that there has to be something mandated to increase soybeans competitiveness david graves aide to sen
the loans would not represent any new money and as the loan would be the obligation of the new borrower there would be a repayment stream that could give the bank as much as 52 pct of face value by year seven one banker 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
britain has grown increasingly impatient with japanese trade practices
trade sees steady corn wheat export inspections
schmidt chiari said that foreign lending business had fallen significantly due to exchange rate fluctuations removing some 22 billion schillings from the balance sheet total
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
companys full name is sun alliance and london insurance plc sunll
it said the plans terms would violate dividend convenants in the rated debts indentures and likely force refinancing of those issues
the plan is being developed in conjunction with the ecgd and the bank of england
complaints about foreign trade restraints are not a smoke screen for protectionism they a plea for fairness rostenkowski said
ny business loans fall 718 mln dlrs in march 4 week fed says
a broader 0 92 might be resurrected later because both the congressional budget office and the reagan administration estimate it would result in significant budget savings
the company said the price for the station a cbs television network affiliate was 20 mln dlrs
he currently faces criminal charges
successful bidders the amount of crude oil and the price per bbl according to the doe are as follows texaco incs tx texaco trading and transport 15000 bpd at 1579 dlrs and 2200 bpd at 1519 dlrs beacon oil co 7000 bpd at 1566 dlrs and 2500 bpd at 1604 dlrs golden west refining 8110 bpd at 1542 dlrs
sosnoff says caesars caw offered stock buyback
the sinking fund for the debentures will retire five pct of them a year
the events we sustained yesterday and the day before are a very serious setback for gaspe mines operations lefebvre said
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
west german commercial banks are cautiously cutting key savings and lending rates banking sources said
a survey of 17 money market economists produced a forecast of a 600 mln dlr m 1 decline for the week ended june 8 with estimates ranging from a gain of one billion dlrs to a decline of four billion
rite aid corp rad 1st qtr may 30
canadians urge exemption from us trade bill
usx corps uss division said it was raising prices for all hot rolled bar and semi finished products 1100 series grades by 10 dlrs per ton effective july one 1987
a bonus of 3744 dlrs per tonne was awarded to continental grain co on the shipment scheduled for april 8 16 melvin sims usda general sales manager said
the pipeline that carries all ecuadors oil exports was ruptured in the march 5 tremor and will take some five months to repair at a cost of about 150 mln dlrs to repair
dow chemical co dow unit increases prices
however baldrige warned measures that would penalise trading partners such as japan south korea and taiwan for failing to cut their trade surpluses with the us could lead to retaliation and he said he would urge reagan to veto any such bill
texas american energy corp said its board has decided to again omit the quarterly dividend on its 2575 dlr cumulative convertible exchangeable preferred stock
it is generally estimated that every employed haitian supports at least six people
simon indicted in wedtech wdt case
in tokyo however he is due to meet private bankers to whom brazil owes some 68 billion dlrs the sources said
dekalb corp said it sold its heinold hog market inc to the units employees through an employee stock ownership plan esop terms were not disclosed but president bruce bickner said the sale will have a positive but not substantial impact on dekalb as a whole
the companys stock closed at 26625 dlrs a share on friday weestern digital said
as any sailor knows it only takes two or three inches out of line and you can turn a barge over
they mark an uncoupling of movements in us and foreign interest rates salomon bros inc said in a recent study
mark eurobond issues fall in second march half
another cbt official executive vice president george sladoje said the issue would be discussed this friday at a special meeting on the exchange floor
klm says it is not seeking air atlanta stake
southern said new rules of the financial accounting standards board which are effective in january 1988 require any costs that are determined nonrecoverable to be charged against earnings once that determination is made
a potential for alternative supplies could limit the willingness of opec nations to raise oil prices he said
separately the isda estimates that about 300 billion dlrs worth of swap transactions are outstanding
the diplomats said sudan hoped a planned four year economic recovery program would be acceptable to the imf as a serious attempt to tackle the countrys economic troubles and persuade its gulf arab creditors to pay the imf arrears
environmental systems co esc 1st qtr jan 31
ropak corp said it has formed a new tokyo based subsidiary called ropak nippon ltd to market its north american products in japan
canada 750 mln dlr t bill issue yield average 860 pct official
under the accord which began in january third countries were guaranteed access for the next four years for two mln tonnes a year of maize to the spanish market as well as 300000 tonnes of sorghum
the pins provide a mechanism to finance the growth needed by these debtor nations provided they are willing to welcome foreign equity investment into their economies ongpin told a businessmens meeting
the food department will no longer import sugar from april 1 senior officials of the food and cooperatives ministry and the department told 
belgian bank said to see slower growth
campbell soup co cpb sets quarterly dividend
he estimated that debt equity conversion plans accounted for 25 billion dlrs last year in four of the regions major debtor states
tenney engineering inc tny 4th qtr net
transamerica sells occidental life australia
he said the complaint would be reviewed later this year after an assessment to see if japan lived up to the agreement
a spokeswoman told the company would have an official response to edelmans bid by friday oct 23
in order to stimulate domestic demand and boost the economy tax reforms aimed at bringing down the cost of land and reforming the nations housing stock are needed along with steps to bring down the high cost of commodities he said
under the previous system spains foreign reserves would have risen by 391 mln dlrs in february taking into account a fall of 514 mln dlrs in financial institutions foreign currency position
their estimates of the banks net earnings for last year ranged from 299 to 31 billion hk dlrs
raised were the companys senior debt to a minus from bbb plus preferred stock to bbb plus from bbb and preliminary rating on shelf securities to a minus from bbb plus
canada rules us corn injuring canadian farmers upholds duty
earlier this year a group led by thompson acquired majority ownership of southland through a 77 dlrs a share tender offer for 315 mln shares of southland common stock
shr loss 116 dlrs vs loss 61 cts net loss 35 mln vs loss 13 mln revs 943938 dlrs vs 480333 dlrs
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
also downgraded were beneficials shelf registrations of senior debt to provisional baa 2 from provisional baa 1 and of subordinated debt to provisional ba 1 from provisional baa 3
bally spokesman bill peltier said the company currently has no hard plans to the sell any more of the health club company but in the long term well wait and see how the offering goes once ballys biggest revenue producer the health club unit had 1986 operating income of 60 mln dlrs on revenues of 4562 mln dlrs 28 pct of ballys revenues
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
allegheny said it acquired a 44 pct interest in wilkinson then known as wilkinson match ltd in 1978 and the remaining share in 1980
csr sells oil gas interests bids to extend sugar
he said that based on discussions with brazilian officials here last week he believed brazils approach to its problems was nonconfrontational adding we fully expect brazil will work this out with its private creditors baker pointed out brazil was paying in full and on time its debts to multilateral institutions the us government and other western creditor governments
for 200000 dlrs
usair said the 3491030 new shares it has an option to buy represent 185 pct of piedmonts currently outstanding shares
it said it has now received an operating permit for a new 250000 cubic yard landfill cell at its imperial county calif from the health services department
carlton buys stake in central independent tv
conrac cax soars following mark iv iv bid
the treasury had set an upper limit on the issue of 12 billion francs and was likely to continue to try and sell as much paper as it could over coming months to meet its borrowing needs for this year of around 150 billion one banker said
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
national fuel gas said the split will be paid to holders of record may 29
a 15 year convertible bond for rowntree mackintosh plc has been increased to 69 mln stg from the original 55 mln and the coupon set at 4 1 2 pct against an indicated 4 1 2 to 4 3 4 pct lead manager j
ec grants 25000 tonnes barley 80000 french maize licences rejects wheat traders
west germany and japan had both pledged at g 7 meetings to boost domestic demand to help narrow the huge us trade deficit tanaka said
the rise in the july september quarter had originally been put at 06 pct
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
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
before seasonal adjustment the index for finished goods stood at 2923 over its 1967 base of 100
first boston incs fbc sunter acquisition corp said it began its previously announced 2460 dlr per share tender offer for allegheny international incs common stock
liabilities in gold or foreign currency rose 200 mln to 119 billion guilders
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
there are rumors that various houses will bring litigation if we dont get answers said a wall street source
lending for consumption fell around 17 mln stg while about 182 mln stg of credit card debt was repaid during the month
we are negotiating so that the debt question should not be one of continuous crisis to sustain internal growth brazil would have to import more machinery and equipment this year and export fewer raw materials
crude inventories rose 85 mln barrels in the week ended march 20 api said
bundesbank sets 28 day securities repurchase tender at fixed 380 pct
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
becor western inc said investment limited partnership of greenwich conn and randolph w
taiwan buys 450000 tonnes of us corn
dealers here were loath to quantify the scale of bank of japan action this morning
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
brunswick is currently test marketing in california a health club facility adjoining a bowling center he said
buitoni is controlled by cir compagnie industriali riunite an investment company itself controlled by ing c olivetti ec spa olivmi chairman carlo de benedetti
the banking firm said the non performing status of these loans cut first quarter net by 17 mln dlrs
an ankara radio report monitored in london said foreign minister vahit halefolu had called on greece to engage in dialogue over the dispute
lawson said he would seek to consolidate political backing for the plan at the venice summit and hoped the programme would be finalised at the autumn meetings of the imf and world bank
1986 net includes tax credit 1022000 dlrs
further easing of monetary policy will be very difficult with an official discount rate already at a record low of 25 pct they said
japan unemployment rises to record 32 pct in may
two of the most visible industries are semiconductor and computer companies said the official who the newspaper said was a central figure in the opposition to japans fujitsu ltd itsut takeover bid for fairchild semiconductor corp the fairchild fujitsu deal was abandoned on monday and industry analysts said the move was a victory for the reagan administration in its drive to beat back japanese competition in the important computer chip manufacturing industry
he told a news conference that china also has considerable reserves of gold
the newspaper quoted linda geraldez an nfa statistician as saying despite the drought and the shortage the total inventory at the end of the january june crop season is expected to be at least 201000 tonnes
a brazilian delegation led by central bank president francisco gros will meet brazils bank advisory committee here on april 10 said citibanks william rhodes as chairman of the 14 bank committee
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
the products are gynex 1 35e and gynex 05 35e
tenneco tgt buys unisys uis unit
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
nevertheless sales and turnover would finish the july 11 year at a high level porsche said
work on the vessel which crosbie said would be the most powerful icebreaker in the world would begin next year and completed in 1992
us officials said it has been willing to study individual cases for economically sound market oriented commodity accords balancing producer and consumer interests
the company said it was in the course of arranging these facilities
the international cocoa council icco adjourned for the day after a detailed proposal on buffer stock rules was distributed and executive committee officials were elected delegates said
piedmont aviation inc said its board meeting recessed today without taking action on proposals to combine piedmont with other corporations
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
the gib study reviewed capital markets under three categories money markets stock and bond markets
quinn of ef hutton said wang has a proven track record of completing acquisitions without earnings dilution
it said due to protracted negotiations with first national several american variety divisions were inoperative in 1986
if you look at the differences between the treasury market now and in the carter administration years it is a much more global market now the official said
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
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
treasury secretary baker declines comment on g 6
it bid them at 98252 and set a 7 1 4 pct coupon and various reoffering prices for the maturities
many banks in the paribas facility although sympathetic to ecuadors plight feel that emergency financial relief is a job for international financial organisations and not for commercial banks bankers said
it said it expects a number of the units 100 employees will be offered positions with donaldson
indications of a heavy sign up in the conservation program recently lowered most trade estimates of corn planted acreage to 630 to 670 mln acres from 670 to 690 mln
according to the departments export sales report covering transactions in the week ended april 2 corn transactions consisted of 140600 tonnes of new sales and changes in destinations for 35000 tonnes
the merger is subject to approval by the companies boards and shareholders and agreement of certain strata creditors among other things said the companies
industrial nations reconvene for talks
the companies said the proposed merger would bring together businesses that were largely complementary
this could result in a sharp negative contribution to the currrent account
the 24 nations of the organisation for economic cooperation and development oecd hampered by sluggish industrial output and trade face slower economic growth and their joint balance of payments will swing into deficit in 1987 the economist intelligence unit eiu said
the company reported a loss from continuing operations of 25 mln dlrs for the year against a 1985 profit of 12 mln dlrs
implementation was postponed in the hope that rabuka might turn back from declaring a republic
the brokerage firm said it bought the allegheny shares march 30 april 2 for 8650 8725 dlrs each
to contain such a currency crisis dollar interest rates would have to soar bringing recession and a third world debt crisis it said
weighted average rate on bank lending was a provisional 1378 pct in february compared with 1383 in january while average weighted rate paid on deposits eased a provisional 749 pct from 766 pct
japans consumer price index base 1985 was unchanged at 997 in february from a month earlier the governments management and coodination agency said
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
other analysts including clarence morrison of dean witter reynolds inc and merrills roling also recommend phelps
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
the company said the capacitor business is part of emharts electrical and electronic group marketed under the mallory brand name
the last published figure for foreign exchange reserves was 1037 billion dlrs at end september 1986 down from 1047 billion at end june and 1259 billion at end september 1985
national pizza co piza to acquire restaurants
paribas and credit lyonnais will be market makers for the first two tranches the communique added
but the rebound was largely on short covering they said
levitt designs builds and sells single family homes and has recently begun a number of new construction projectsthe company added
a preliminary duty of 854 pct was set october 17 1986
it is important to enhance the likelihood of home country discoveries with measures such as non discriminatory and stable taxation and minimum regulation together with opening up of acreage for exploration he said
the amount of the offer scheduled to close april 7 had not been prefixed
the transaction is subject to both regulatory and shareholder approval
registered unemployed totalled 281 mln or 211 pct of the workforce in february 1986
interlink says not planning bid for purolator
during the last week of april silver futures often traded at the daily allowable limit amid concerns about inflation the dollar and other factors
german february central bank money grows annual 75 pct january same prov
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
it said it will retain a seat on the new london board
chirac reagan discuss arms control trade
expenses associated with restructuring are expected to be offset by significant gains from the sale of some of gelcos business units it said
lsi logic issues 100 mln dlr convertible bond
the bank said domestic earnings rose to a record 125 mln dlrs in the second quarter a 52 mln dlr increase from the year before due to higher business volumes and securities gains as well as a better yield from its domestic non accrual loan portfolio
qtly div 18 cts vs 18 cts prior pay april 30 record march 26
barley season begins june 1
delegates were fairly confident the differences could be worked out in time to reach agreement tomorrow
licht put this years soviet beet area at 340 mln ha against 344 mln last year
we expect to start up the first platform then silas said
complete 1986 figures are not yet available
we have the potential for record breaking soybean yields this year which will temper the enthusiasm on tomorrows opening she said
the us wants japan to eliminate import controls on agricultural products within three years visiting us under secretary of state for economic affairs allen wallis told eishiro saito chairman of the federation of economic organisations keidanren a spokesman for keidanren said
he said tandems second quarter is traditionally slower than the first
the groups orders in hand amounted to 91 billion marks at end december 1986 from 103 billion at the start of the year
i think hes going to be the next frank lorenzo of wall street said one market source
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
seaxe is engaged in international oil and gas exploration and development primarily in the paris basin of france
american airlines and citibank scheduled a press conference at 1030 est in new york tomorrow to announce a major new credit card alliance marketing program spokesmen for citibank declined additional comment
wilshire woc chief named to jacobs jec board
the report said the government continues to promote sugarcane production through its smallholder intensification program and a relatively high guaranteed price to sugarcane producers
british corporate affairs minister michael howard told japan to resolve the row over the uk firm cable and wireless plcs cawll shareholding in a new japanese telecommunications company or face an abrupt deterioration in trade relations
while the accord effectively stifled dollar yen and dollar mark movements the markets turned their attention to sterling as foreign investors rushed to take advantage of relatively high uk interest rates
lsb industries lsb agrees to acquire bank
sudan also has an incentive rate of four pounds to the dollar for foreign visitors and remittances by expatriate workers
the un said the report was aimed at promoting petroleum exploration in areas perceived as being gas prone
the bank also said it provided the money market 456 mln stg assistance in the afternoon session bringing its total help so far today to 493 mln stg
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
the bundesbank bought large amounts of dollars for yen in an apparent attempt to hold the dollar above 149 yen dealers said
pioneer standard electronics inc pios payout
corporate insurance said it bought the cumulative convertible preferred stock stake for 199690 dlrs for investment purposes
papandreou was speaking to reporters after briefing opposition political leaders on the latest developments in the row as a turkish research ship escorted by warships and combat aircraft headed for the aegean
net profit before minorities 766 mln stg vs 628 mln
industrial companies have done most of the swaps to date and hegewisch said that many of the applications now pending are for investments in the electronic and chemical industries with japanese and korean firms showing particular interest
the company said its income performance for the full year remains very good
qtly div 62 cts vs 58 cts in the prior quarter payable april 30 record march 20
shr loss 27 cts vs loss 81 cts net loss 998764 vs loss 1491590 revs 2712614 vs 1237850 avg shrs 3727063 vs 1838294 year shr loss 179 dlr vs loss 211 dlrs net loss 4559004 vs loss 3882235 revs 8510004 vs 3720640 avg shrs 2544271 vs 1838294
in theory phelps is the best stock
noel industries nol board approves financing
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
the original announcement said the guarantees included three mln dlrs for lumber except plywood
the zimbabwe government has bought 85 pct of the equity in astra corporation for 255 mln dlrs from netherlands based bommenede houdstermaatschappij nederland bv astra announced
the african development bank adb said it increased its lending by 421 pct last year to 164 billion dlrs from 115 billion dlrs in 1985
us farm policy debate could hit senate soon
the 6000 billion yen economic stimulation package the government unveiled late last month would help slash japans current account surplus by five to six billion dlrs he said
genex said the rights would not be transferable separately from the common stock
moodys said the downgrade reflected its concern over prospects for material improvement in the holding companys operating profitability in the medium term
wendys is currently trading up one at 11 3 4 on turnover of more than 16 mln shares
after the five years are up under certain circumstances the shares of encor may be required to be disposed the company said
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
a report from rotterdam quoted industry sources there saying dutch cocoa processors also are unhappy with the intermittent buffer stock buying activities
but the december rate of 406 mln units had been the highest since the record 415 mln unit sales rate set in november 1978 the group said
in a prepared statement the company said the dramatic swing in operating results was due primarily to the steep decline in sales of cabbage patch kids products from 600 mln dlrs to 230 mln dlrs
kuwait says opec 24 mln bpd below ceiling
geothermal resources international inc geo 
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
noranda said the cause and full extent of the damage is still unknown but the fire destroyed 6000 feet of conveyor belt
commonwealth mortgage ccmco 4th qtr net
fees for the issue comprise 1 1 4 pct selling concession and 5 8 pct for management and underwriting combined
shr 32 cts vs 38 cts qtrly div 35 cts vs 35 cts prior net 731055 vs 865117 note dividend payable may 20 to shareholders of record april 24
chrysler the number three us automaker has said the merger is motivated principally by its desire to acquire amcs profitable jeep business and dealers as well as a new modern car assembly plant in bramalea ontario
thousands of tea workers of indian origin went on strike today to press demands for citizenship and voting rights in sri lanka a union statement said
a fed spokesman told reporters that there were no large single day net miss in reserve projections in the latest week
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
all that would of course intensify social difficulties mikulic added
fed data provide new evidence of tighter policy
the diversified chemical and industrial company said the sale completes its program to divest retail operations
reagan vetoed a similar measure last year
shr not given net 328000 vs 99000 year shr not given net 1694000 vs 998000 note company went public in february 1987
louisiana pacific corp has agreed to pay 3475000 dlrs for the bankrupt harris pine sawmill in pendleton ore the mills bankruptcy trustee said
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
charter power systems inc chp 1st qtr
ekonomicheskaya gazeta said labour productivity targets were also not fulfilled but did not give figures
data measurement corp dmcb 4th qtr
iran lost most of its refining capacity early in the gulf war and now imports several hundred thousand bpd of refined products
following the gaf offer analysts had calculated breakup values for the company in the low 50 dlrs per share range and speculated an offer would have to be sweetened
uk money market given 265 mln stg assistance
it said positive gdp growth of three pct might be restored the current external deficit could fall to some 4 1 2 pct of gdp by the first half of next year while inflation was projected to decelerate to around five to 5 1 2 pct by mid 1988
this removed a potential obstacle to a further cut in uk base lending rates if foreign demand for sterling pushed up the pound above unofficial targets analysts said
in september 1983 the uk government sold 150 mln shares in an underwritten offer for sale by tender
fees are 1 1 4 pct for selling and 3 8 pct each for management and underwriting including a 1 8 pct praecipuum
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
the yen is trading at around 15370 to the dollar
shr 23 cts vs 20 cts net 1115000 vs 971000 revs 138 mln vs 119 mln nine mths shr 64 cts vs 52 cts net 3134000 vs 2521000 revs 401 mln vs 318 mln
underwriters are led by union bank of switzerland
the financing is the first of its kind for the company which makes luxury consumer products
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
at this point there is no detailed plan or program
finance minister kiichi miyazawa said the paris currency accord has contributed to the stability of exchange rates
however she said the dollar could break out of the range with major surprises such as a worse than expected us merchandise trade deficit due next tuesday
proceeds will be used to satisfy a february 1987 repayment demand by one of the companys lenders
hartford national corp hnat regular dividend
salomon brothers asia ltd caught market attention by buying 45 billion yen of the 100 billion of government two year notes auctioned on february 3
an administration official told this week the philippines proposal to partially pay interest with investment notes instead of cash should be considered seriously by the banks
the trade balance registered a 35 mln dlr surplus compared with a 56 mln dlr surplus in january 1986
the upgrading reflects the companys significant improvement made in reducing debt since its 1985 acquisition of american hospital supply corp it said
japan will lend 2717 billion yen to indonesia and will share equally with the world bank a 725 billion yen loan to bolivia as part of its efforts to help third world countries a foreign ministry spokesman said
bell atlantic corp bel increases payout
what they are proposing is really double counting patrick de saint aignan managing director of swaps for morgan stanley and co said
bank of montreal cuts prime rate to 8 3 4 pct from 9 1 4 pct effective friday
what it did was distort the quarterly earnings pattern he said
prior to its takeover in december it had accumulated long term debt of 600 mln canadian dlrs
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
treasury secretary james baker urged commercial banks to be open to new ideas for reducing the third world debt burden
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
swedish export credit launches australian dlr bond
investment firms have 77 pct of midway mdwyo 
the initial distribution will include all the cash stock and debentures received in connection with the sale the company said
mco holdings inc mco 4th qtr loss
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
an 11 day old strike by brazilian seamen is affecting coffee shipments and could lead to a short term supply squeeze abroad exporters said
huttons offer was topped by a 40 dlr per share offer from emery air freight corp eaf earlier this week
us export inspections in thous bushels soybeans 16333 wheat 30917 corn 36781
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 bank said non accrual loans net of provisions for loan losses totalled 22 billion dlrs on january 31 up from 20 billion dlrs a year ago
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
qtly div 30 cts vs 30 cts prior pay june one record may eight note current dividend is equivalent to previous quarterly dividend of 45 cts per share after giving effect to 3 for 2 stock split effective march 3 1987
s and p said the downgrade reflected lanesboroughs planned purchase of ampex corp from allied signal inc ald for 479 mln dlrs
heineken sees higher profits wider penetration
this years rate will thus be 11 pct
shr loss 48 cts vs loss 35 cts net loss 1587000 vs loss 1063000 revs 453 mln vs 509 mln avg shrs 3322032 vs 3054457 year shr profit three cts vs loss 19 cts net profit 112000 vs loss 587000 revs 2112 mln vs 1993 mln avg shrs 3220163 vs 3038361 note net includes tax credits 1411000 dlrs vs 929000 dlrs in quarter and tax provision 689000 dlrs vs credit 1288000 dlrs in year
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
the cato institute of washington and the fraser institute of vancouver said removing the remaining tariffs on cross border trade would benefit both countries
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
state street boston corp stbk sets quarterly
cherokee group chke 1st qtr feb 28 net
fleets acquisition of norstar is now expected to be completed around july 1 1988 when a change in laws in fleets home state of rhode island allowing interstate banking outside new england will go into effect
horner said more forceful central bank intervention will firm the dollar and cap the rise in currency futures
the drop in january is not surprising considering that a significant portion of decembers near record pace was made up of sellers seeking to get favorable capital gains treatment under the old tax laws said the nars john tuccillo
but this has been going on for a long time and no one pays any attention to the second figure the 151 billion dlr february trade deficit compared with a revised january deficit of 123 billion dlrs
banco di sicilia international issues eurobond
asea has operations in power generation and transmission transportation equipment pollution control and robotics
at its last tender on march 4 the bank of france sold 1105 billion francs of tap stock
the takeover provision was sent to the full energy and commerce committee for consideration as part of the overall trade bill which is being written by several house committees
the government welcomed a decision by the australian waterside workers federation to lift its ban on shipments to fiji imposed in support of bavadra whose newly elected government was overthrown in a military coup on may 14
intermedics inc itm 1st qtr feb one net
panteras corp said it agreed in principle to acquire pizza inn inc in a cash and stock transaction
keihanshin real estate issues equity warrant bond
the reagan administration proposed in trade legislation offered congress last month that authority to monitor coffee imports be resumed
personally i think its an illusion
in his annual state of the nation speech lusinchi also said venezuela supports other latin american debtors despite having reached a rescheduling accord on its own
shr 75 cts vs 64 cts net 110 mln vs 9379000 nine mths shr 44 cts vs 178 dlrs net 6411000 vs 254 mln note 1987 nine mths net reflects 30 mln dlr addition to latin american loan loss provision
natural gas production fell to 5360 mln cubic feet a day from 5910 mcf a day
clark copy international buys w
the bank of england said it forecast a shortage of around 250 mln stg in the money market today
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
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 us of textiles and apparel and electronic goods such as television sets video cassette records and personal computers
guilford mills inc said it filed with the securities and exchange commission a registration statement covering a 60 mln dlr issue of convertible subordinated debentures
first savings bank of florida said it expects a special shareholder meeting to be held around may 21 to consider the proposed merger into gibraltar financial corp gfc it said the annual meeting will be held april 30 to elect two directors and ratify the appointment of auditors
also on wednesday london dealers said the bank of england intervened in the open market to sell sterling as the uk currency rose to 160 dlrs compared with 15355 dlrs before the g 6 pact
a shareholder group including entregrowth interational ltd of auckland new zealand said it lifted its stake in suave shoe corp common stock to 319600 shares or 115 pct of the total outstanding from a previous figure of approximately 238400 shares or 86 pct
argentinas 1987 financing needs come to 353 billion dlrs including the 215 billion from banks and a 138 billion dlr imf loan already agreed
the reduction brings its posted price for west texas intermediate to 1600 dlrs a barrel the copany said
british aerospace 1986 pretax profit 1822 mln stg vs 1505 mln
it said a 156 mln us dlr four well program was planned for 1987
usdas foreign agricultural service administrator thomas kay told dot could owe usda as much as 20 mln dlrs
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
however the market tends to be nervous with values some 100 points above the baltic freight index which is calculated on spot physical rates
national fuel gas co nfg sets mail date
computer language research in clri 4th qtr
auto sales accounted for the lions share of total february sales rising 144 pct
venezuela lowers exchange rate for oil earnings
as a result tokyo is striving to meet us complaints about its trade practices in a variety of fields including super computers
north atlantic technologies natt 4th qtr
qtly div five cts vs five cts pay may 22 record may 8
data general dgn debt downgraded by s p
the agreement extends a standstill arrangement expiring june 30 that has been in place since august 1985
state and private agencies contracted to export 134 mln bales in 1985 86 he told journalists
cts corp said it increased its 1986 loss from continuing operations to 266 mln dlrs from the previously announced 238 mln dlrs loss
chronar corp said it signed a joint venture agreement with rade koncar a yugoslav maker of electric energy equipment to build a 12 mln dlr one megawatt photovaltaic manufacturing plant in split yugoslavia
the company said the transaction is subject to execution of definitive agreements the receipt of fairness opinions from investment banks and approval by boards and shareholders of both companies
the bank of italy took up 500 billion lire of the offer leaving 1073 billion lire unassigned
the commerce commission has approved a proposed merger between progressive enterprises ltd and rainbow corp ltd rainbow said in a statement
firstcorp inc said it weill report an after tax gain of 1827000 dlrs or 56 cts per share primary and 42 cts fully diluted from the proposed condemnation and acquisition of a parking deck it operates by wake county
the current exposure would be measured by the mark to market value of the asset which would reflect the replacement cost
we have committed ourselves to reestablishing the normal functioning of the system eyskens said
the suggestions by federation of economic organisations official fumio watanabe was a formal announcement of proposals made earlier this week and reported in the japanese press
dutch money supply hardly changed in december
it said former shareholders of biopool ab own the remaining 40 pct in cytrx biopool ltd
commenting on the recent ferry disaster in the north sea off zeebrugge the statement said the precise cause is unknown
brazils total grain crop is expected to be 653 mln tonnes
in remarks prepared for delivery to shareholders president peter donis said caterpillars targeted five pct cost reduction in 1987 will be difficult to achieve because the weaker dollar has limited opportunities to obtain lower material costs
consolidated natural gas co said it has received securities and exchange commission approval to establish a wholly owned natural gas marketing subsidiary called cng trading co
world trade conditions are getting better not worse he said
shr loss 148 dlrs vs loss 36 cts net loss 4036000 vs loss 983000 sales 166 mln vs 17 mln 12 mths shr loss 188 dlrs vs profit 71 cts net loss 5113000 vs profit 1904000 sales 854 mln vs 885 mln note prior year net includes extraordinary loss of 298000 dlrs in qtr and extraordinary profit of 718000 dlrs in year
shr 58 cts vs 53 cts shr diluted 54 cts vs 53 cts net 1957745 vs 1594009 sales 958 mln vs 874 mln note average shares up 117 pct on primary basis
pea sowings are estimated likely to rise 277 pct to 350000 ha against 274000 while field bean sowings are forecast unchanged at 40000
he said a negative opinion by another brokerage house hurt the stock wednesday and it can be bought at a relatively bargain price today
the patent strengthens genzymes proprietary position as the leading independent supplier of diagnostic enzymes and substrates henri temeer genzyme president said
this should discourage banks from bidding high to ensure that they were successful while paying the lower marginal rate analysts said
certs can cost the government more than cash primarily because recipients can use the certificates to pay back government loans at levels below the loan rate
schlumberger never announced a price for the sale but industry analysts have estimated the value of the deal at about 200 mln dlrs
b and c reorganises commercial operations
amex begins trading harcourt brace hbj options
apparently they canada have ignored the fact that canadian corn and other coarse grain production is rising faster than consumption lyng said
he named several areas of particular concern to washington computer microchips supercomputers kansai airport agricultural products and car telephones
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
japanese crushers buy canadian rapeseed
research and development will cost four pct of net sales and training two pct
campbells cch meston lake sets gold targets
diamond shamrock offshore dsp in find
the coupon rate was 775 pct on the issue
shr 123 dlrs vs 133 dlrs semi annual div six cts vs six cts prior payment net 162 mln vs 148 mln sales 109 billion vs 9094 mln note dividend is payable april one to holders of record march nine
president corazon aquino earlier this month established an arbitration panel to settle a row over the disposal of the shares
as a result of the loss the company said it has decided to discontinue the operations of its big value outlets division which will result in a yet undisclosed one time charge against earnings for the year
usda estimates canadian crops
goldman sachs co managed the debenture deal
medchem products inc mdch 2nd qtr feb 28 net
first world cheese inc fwch 4th qtr loss
as a result of the price increase made through waste managements wholly owned subsidiary wmx acquisition corp the offer has been extended and the withdrawal rights will not expire at midnight edt april two unless further extended
anitec said the proceeds will be used for acquisitions joint ventures and other investments
noel industries inc said its board approved in principle a private placement of 900 units each unit consisting of 1000 dlrs of nine pct senior subordinated convertible debentures due marcxh 31 1991 and 95 warrants to purchase noel common
my aim will be to keep it there over the years ahead lawson said
french february inflation confirmed at 02 pct
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
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
the threat of a stoppage by oil industry employees appeared today to be receding
the ec executive commission has backed a plan to allow member countries to ban regular leaded gasoline in a move designed to encourage use of unleaded fuel
general partners is terminating offer for gencorp inc
temco service industries inc 1st qtr dec 31
he said the dollar may return to around 152 yen next month when corporations reduce their dollar sales after they close their books for the 1986 87 business year ending on march 31
india bought at least eight cargoes sugar trade
bank of canada made aggressive use of t bills
the new divisors will be published in tommorws editon it added
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
the raws price was set at 150 dlrs fob and 173 dlrs 10750 stg cif
you will certainly see substantial growth in allied lyons in the second half holden brown said following a presentation to toronto securities analysts
the company as usacafes inc had paid a quarterly dividend of nine cts per share
earlier metromail reported fiscal 1987 third quarter earnings of 24 mln dlrs or 25 cts a share versus three mln dlrs or 32 cts a share the prior third quarter and nine months net of 72 mln dlrs or 76 cts a share versus 78 mln dlrs or 82 cts a share the prior nine months
qtly div 36 cts vs 36 cts pay april 30 record april 7
ntt said it plans to make capital investments of 1770 billion yen in 1987 88 including 109 billion for research and development as against a total of 1600 billion this year
on the other hand net exports seem to be expanding by more than expected at budget time and this is underpinning growth in domestic production and employment keating said it now seems likely that the 1986 87 inflation rate will exceed the budget forecast of eight pct
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 economy is picking up after contracting by a seasonally adjusted 1 2 to one pct in the first quarter from the fourth he added
earlier venezuelan energy and mines minister aturo hernandez grisanti said his country would supply an unspecified part of ecuadors export commitments
oper shr loss 11 cts vs profit two cts oper net loss 1058585 vs profit 282998 revs 244 mln vs 237 mln note 1986 oper includes accrued interest of 686914 from financing of capital goods transaction with prudential bache trade corp
hrs said that the agreement also provided for a second stage over one year in which it had a put option exercisable one year from closing to sell qintex all or part of its two mln roach shares for 850 us dlrs a share
hanson trust plc han said its us subsidiary hanson industries sold pcr inc a specialty chemicals unit for 625 mln dlrs in cash to chemical partners inc hanson industries said it acquired pcr inc in 1986 as part of its purchase of scm corp pcr inc posted an operating loss in 1986 of 381000 dlrs on sales of 132 mln dlrs the company said
brazil had not asked for any argentine maize they said
i think if were talking about dropping the quota another half mln tons lets say youre getting to the point where the program might not work he said
however the european representative on the task force herve de carmoy chief executive international for midland bank plc disagreed
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
negotiations for a new inra to succeed the present one which runs out next october began nearly two years ago
sterling in any shape or form is flavor of the month and were set to see many more eurosterling deals one dealer said
bouygues holds a 50 pct stake in the winning consortium giving it a 25 pct stake in tf1
totals may not add due to rounding
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
the bank said in a statement it will offer 30 mln dlrs of 56 day treasury bills and 50 mln dlrs of 77 day bills
what we have now is pins iv he said
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
nickles symms and others also have cited other loans such as a 1985 world bank loan to hungary to expand livestock exports and 500 mln dlrs lent to thailand from 1981 to 1985 at low interest rates for agriculture
bilzerian tells sec he ups pay n pak stake to 99 pct
plan approval
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
the company has paid no dividend since the year ended october 31 1983 when it paid five yen
while they said they might increase their stake killearn properties they said they have no plans to seek control of it
world bank lends to chinas machine tool industry
but korea is raising its profile in the area of big ticket manufactured goods notably cars
norstar shareholders to get 12 fleet financial shrs per norstar share in merger
the world bank will support sri lankas development program provided the country reduces its budget and current account deficits the ministry of finance said
painewebber is co lead manager
exports in january totalled 123000 bpd
the commonwealths move reverses an increase from 175 pct in early february
the iac has been asked to report on the need for assistance to the industry and the nature duration and extent of any aid he said in a statement
we may still probe to see what the parameters are byers said but people are very reluctant because they dont know where the central banks will be to intervene gillard said the mark could drop to a previous price consolidation area around 05250 based on the profoundly sluggish west german economy but that he would be a buyer at that level
uk money market given 97 mln stg assistance
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
the industry is expected to continue growing at 15 to 35 pct over the next five years he said
koehler said that transactions on foreign exchange markets had parted company with transactions in goods services and investments
corrects dollar figure of notes placed in item appearing feb 25
the bank of japan was believed to have bought some 15 billion dlrs and this with comments by japanese officials indicated tokyo was unhappy about the plunge dealers said
periods ended feb 28 oper shr 46 cts vs 51 cts oper shr diluted 43 cts vs 50 cts oper net 342 mln vs 398 mln revs 8233 mln vs 7943 mln avg shrs 749 mln vs 787 mln nine mths oper shr 129 dlrs vs 146 dlrs oper shr diluted 120 dlrs vs 143 dlrs oper net 994 mln vs 1145 mln revs 250 billion vs 222 billion avg shrs 770 mln vs 783 mln note year ago nine months operating net excludes loss of 20 mln dlrs or two cts a share from discontinued operations
this compares with the banks estimate that the system would face a shortage of around 400 mln stg today
the suit says this rule is arbitrary and capricious
while net effect on the company will not be known for several months because of the time lag in deferred earnings end users especially residential and commercial customers will end up paying more for gas he said
pakistan could import 100000 tonnes of palm oil
the series nn bonds will serve as collateral to princetons equal sized pollution control bond issue that are expected to have the same interest rate
the refueling outage is expected to last about 12 weeks and will include a variety of maintenance as well as the replacement of about one third of unit 2s fuel the company said
it also said there can be no assurance as to the terms of the proposals or that the deal can be concluded
bank of japan to sell 500 billion in bills
the result includes profit and loss transfers from bankhaus centrale credit and the visa organisation
but many experts say opec should change prices quarterly or monthly to match seasonal demand for fuel oil rich heavy crudes and gasoline rich lighter grades
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
sony corp snet group net income is expected to be down 65 pct for the five months ending march 31 from the same period a year ago at around 10 billion yen if the yen27dollar rate remains at the present level managing director tsunao hashimoto told a press conference
china raises grain purchase prices
so far this year distillate demand rose 01 pct to 331 mln bpd from 330 mln in 1986 gasoline demand was 660 mln bpd up 01 pct from 659 mln and residual fuel demand fell 04 pct to 142 mln bpd from 143 mln the eia said
french 13 week t bill average rate rises to 739 pct from 736 pct official
the stock market has come a long way in a short time
foreign governments and central banks are therefore expected to be allowed to hold their accounts at the bank of japan the securities sources said
1986 year net reflects undisclosed amount of expenses for defense of takeover effort
the statement said only that the reduction in total supplies namely actual exports of crude oil and products plus local deliveries in member countries is even more pronounced as those supplies fell very noticeably during that month no matter what the pressure on member countries by lifters to align the official selling price to the ongoing market price member countries are without exception strictly adhering to the official selling price in spite of the financial hardship this may entail the statement said
texaco inc has re established some key oil supply lines following yesterdays court filing for protection under chapter 11 of the us bankrupcty code said elton yates texacos coordinator of worldwide operations
economists said foreigners also were being attracted by south africas long term government bonds and semi gilts or securities in partly government owned firms many with yields as high as 30 pct
it has been under review since the exchange submitted the proposal in december 1985
transamerica will buy 11 mln newly issued class a shares of river thames for 223 dlrs per share
fees for the issue total 13 32 and payment date is march 25
shearson sells new cds for japanese banks
specific demand has been directed towards metal in gothenburg and trieste warehouses
actual resales of homes during february totaled 241000 up 116 pct from the january total of 216000 the association said
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
regal international rgl ups bell bpsiq bid
bass group says it has had talks on taft tfb 
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
the one mln tonne upward revision in 1986 87 wheat production reflects several minor adjustments
any japanese action would probably be taken under article 23 of the general agreement on tariffs and trade gatt they said
bally manufacturing corp said it completed the acquisition of the golden nugget casino hotel in atlantic city new jersey from golden nugget inc
already rich japanese companies have pounced on us banks steel and other businesses
the price increase follows similar moves by usxs x subsidiary marathon oil and sun co sun earlier today
uk agricultural futures markets to merge
the full year 1986 current account surplus was reported last month at 258 billion francs
china has a large population and its land resources are badly deficient an official of the shanghai city government said county authorities could approve conversion of only 03 hectares of arable land to other uses while anything more than that must be approved by the city government
finance ministers of britain canada france japan the us and west germany agreed on february 22 to cooperate in stabilizing exchange rates around the current levels
they are supported by west germany and the netherlands and to a lesser extent spain
the bonds will be issued in denominations of 1000 stg and will be listed in london
the 30 pct tariff increase introduced in january will only bring in an extra 600 mln bolivars per year against additional debt costs of 900 mln
holders of the companys 219 dlrs cumulative preference shares will receive 20 dlrs a share and those owning its 1125 dlrs convertible preferred will receive 8750 dlrs a share
yesterday usg sold 200 mln dlrs of same rated debentures due 2017 that were priced to yield 877 pct or 120 basis points over treasuries through a syndicate headed by salomon brothers
meanwhile continued strong marketings during the month will support the april contract
the program will reach an initial 118000 viewers
the budget statement was broadly as expected with a continuation of existing policies and the absence of traditional pre election incentives would be viewed positively by overseas investors another said
citicorp has made clear its decision to move three billion dlrs to reserves does not mean it is writing off the loans
degussas contribution would provide a major portion of international platinums exploration budget especially during the first and second year of the proposed joint venture the company said
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
the leaders of a us senate team probing american defense strategy in the mideast gulf said they favored a multinational force to keep oil flowing through the waterway
but there are other considerations such as relationship he admitted his bank has joined as co manager
hollinger inc will pay about 50 mln dlrs cash for its previously reported acquisition of privately owned unimedia inc chairman conrad black told reporters after the annual meeting confirming a published report
uk merger clearances
in his budget lawson set no explicit target range for the broader sterling m3
the issue would offer a coupon attractive to commercial banks which currently have an estimated 30 to 60 billion baht in funds invested in low yield securities the sources said
safety kleen sk completes acquisition
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
traders said that there have been persistent rumors today that japanese buyers are looking to pick up cargoes of brent for japan and european trade sources indidate rumors of vessels being fixed to make such shipments
indonesian energy minister subroto told the association he was aware that the oil industry needed to be assured that contracts on blocks expiring within the next 10 years would be renewed before they would invest in further exploration
startel corp said it expects to report a first quartter loss on a 25 to 30 pct revenue fall from the year earlier 2524000 dlrs
data general reported a loss of 18 mln dlrs or six cts a share for the second quarter ended march 29 1986
the overall balance showed a surplus of 48 billion after 26 billion in 1985
co says it expects results for the second half year to be similar to those of the first half
gross fees of 2 1 4 pct comprise 3 4 pct for management and underwriting and 1 1 2 pct for selling
corn use in feed output in 1986 87 rose to 1171 mln tonnes from 1102 mln a year earlier due to low import prices
rates could ease further in trading today but dealers expect them to rise later in the week as banks begin paying out funds for tax payments on behalf of clients
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
shr loss 42 cts vs loss 56 cts net loss 596354 vs loss 795009 revs 3818258 vs 2070772
the acquisition gives hearst its biggest newspaper holding in texas where the california based publisher already owns papers in san antonio beaumont and laredo
amsterdam launches 300 mln guilder cp program
proposed offerings recently filed with the sec
to facilitate the acquisition crossland said western was converted from a mutual to a stock association in a voluntary supervisory conversion
usair said it requested the dismissal because twa avoided pre merger notification requirements and also did not provide a competitive and public interest analysis required under regulations
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
commercial bank minimum reserve holdings at the bundesbank fell 300 mln marks to 519 billion marks at the end of february averaging 512 billion over the month
they are sceptical about the chances for any fundamental change
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
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
enterprise becomes the third operating telephone subsidiary of rochester telephone in pennsylvania and its sixth largest overall the company said
merrills mccarthy said they could even come in below the bottom of their respective target ranges
the federal home loan bank board fhlbb announced the acquisition of home savings and loan association in seattle washington by interwest savings bank of oak harbour washington
earlier today the company announced that hong kong telephone and cable and wireless hong kong in which the territorys government has a 20 pct stake would become subsidiaries of a newly formed holding company hong kong telecommunications
british agriculture minister michael jopling during a visit to washington this week endorsed the oecd work as a starting point for the uruguay round negotiations on agriculture
the package would provide 20 mln ecus for research into alternative farming techniques the sources added
fifteen countries in eastern and southern africa have agreed to cut tariffs on regional trade by 10 pct every two years up to 1996
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
ergenc told later that all leave had been cancelled for members of the armed forces in the aegean coast area
the company said the split is subject to shareholder approval of an increase in authorized shares to 100 mln from 20 mln at the april 22 annual meeting
goria said italys own ships were far from the platform at the time of the attack and the fleet had been advised to follow events with caution
trade proposes new ec grain intervention rules
but he warned that the outlook for rural and iron and coal exports remained poor
while follow through buying has aided the advance so far and bouts of short covering have prohibited a slide through chart support the rally in september t bonds has been thwarted above the 93 level
he said smc and ucpb would meet later this week to try to resolve disputes over the pricing of the shares
the banks latest strong signal to the market that it wants rates to stay steady for the moment came in midafternoon when it lent to the discount houses at a penal rate of 11 3 4 pct to relieve a money market shortage
fiji today welcomed the ending of a trade ban imposed by australian labor unions as supporters of the countrys ousted prime minister timoci bavadra renewed pressure for his reinstatement with strikes and shop closures
csr selling delhi to exxon unit drops delhi float
cheyenne software inc said it is in preliminary talks on the acquisition of compouter hardware distribution firm fa components inc and its freeman owings inc subsidiary
royal ordnance made pre tax profits of 26 mln stg on sales of 487 mln stg in calendar 1985 its first full year of commercial operation
ugandas total foreign debt is estimated at some 15 billion dlrs
loral corp lor 2nd qtr sept 30
moodys investors service inc said it upgraded 475 mln dlrs of debt of continental airlines inc a unit of texas air corp
pickens told he expects the rig count to drop to below 600 before recovering
rr donnelly said it expects the deal to close in about 120 days subject to regulatory approvals and other conditions
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
a copy of the letter was made available to 
energy us petrochemical industry
both sides raised their bids over the weekend
it said narrowing of international interest rate spreads was a major factor in the dollars fall
one western commercial attache here said devaluation of itself will not change anything
in a letter to gencorp chairman and chief executive a
american express said no decision has been reached on the strategic options and that it and shearson could ultimately decide to follow growth plans already in place
the us was the largest supplier in january with 38760 tonnes down from 46899 in december and 63111 in january 1986
the bonds will be sold in denominations of 1000 and 10000 dlrs
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
in january they fell to a seasonally adjusted 11752 bilion dlrs and in february rose to 12229 billion dlrs
all that money could be spent on something else direct central government subsidies to the farm sector amount to some five billion dlrs per year
monfort of colorado inc mnft 2nd qtr net
publicker industries inc pul 4th qtr loss
the average price for the three month bills was 98488 and prices ranged from 98504 to 98486
according to the 1987 federal budget the state is due to lower its stake 60 pct in laenderbank probably to 51 pct
shr five cts vs eight cts net 100000 vs 176000 revs 4027000 vs 3649000 note 1986 qtr includes gain 90000 dlrs or four cts per share from tax gain
he told a general assembly had passed a proposal splitting 1033 mln shares of 100 francs nominal into around 4132 mln shares of 25 francs nominal
electrospace systems designs develops and installs communications and electronic systems and equipment for the specialized needs of military and commercial customers worldwide
it said the decision may be appealed
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
makers of consumer goods posted a 1 1 2 pct year on year rise in the two month period
braddock and his sector heads made the following more specific predictions cost of funds and net credit loss levels in the us bankcard unit will taper off in coming years from 1986s relatively inflated levels
he said shintaro abe the ruling liberal democratic partys executive council chairman would propose some unspecified measures in response to demands to ease import controls on us farm products
he was visiting new york for talks with investors
nazer said the output level did not mean the kingdom had returned to a role of swing producer within opec
a 125 mln dlr issue of second priority secured equipment certificates due 1995 has an 11 pct coupon and par pricing and an equal sized offering of third priority certificates due 1999 was given an 11 3 8 pct coupon and par pricing
talking point piedmont pie 
the review noted that world industrial consumption has been on an uptrend since 1980 although offtake is still 14 pct below the 1978 level of 442000000 ounces
greece aims to reduce foreign borrowing to 16 or 17 billion dlrs this year from 26 billion in 1986 and will use some of the funds to make early debt servicing payments the governor of the bank of greece dimitris halikias said
ericsson ericyo to buy rest of spanish unit
interest in gold mine stocks may also wane if stock exchange rallies under way in many countries start to waver
exports in january totalled 733000 tonnes raw value up from 725000 a year earlier according to figures received by the international sugar organization
we hope this will encourage more metal traders to set up shop here and that singapore can become a delivery port for other metals as well he said
total m3 rose 224 pct from february 1984
more than half of remaining proved reserves are in the middle east he said
three month interbank riyal deposits were quoted today at 6 1 2 3 8 pct
president reagans trade policy advisory group of which baldrige is a member will meet on the issue wednesday
gencorp gy unit to sell los angeles tv station
dresdner bank unit says not worried on brazil debt
asked what it meant for uk monetary policy he said no i do not think there are any immediate implications
though deregulation was all but forced on brokers most now acknowledge that the influx of capital and contacts from non member shareholders has benefited the industry they said
president jose sarney whose handling of the economy is under attack at home and abroad has held private talks with brazilian business leaders worried that government policies are leading to recession
gold futures retreated from modest early gains and closed steady while silver prices rallied on the commodity exchange in new york
moodys downgrades gelco gel and units debt
these include the success of ibms new personal computer line introduced two weeks ago and its 9370 minicomputers which will begin volume shipments in july
a bank of japan survey released last week showed that the decline in japanese corporate earnings may be nearing its end
integrated resources ire files note offering
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
testifying before the house appropriations subcommittee which must approve his agencys 1988 budget he said in my judgment economic factors justify a continued decline asked by a committee member if he expected a further decline and how much yeutter said the taiwan and south korean currencies should be adjusted to reflect positive factors in their economies
hechinger hecha sells convertible debentures
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
funaro says creditors willing to help brazil
wen hui bao said the drought which has affected shanxi hebei henan and shandong the most has eased with march rains in south china and march snowfall in the north and as some new irrigation projects have come into use
some of these are expected to be held for mixing in with early temporao arrivals
metropolitan consolidated industries inc a new york paint company said it has acquired 278709 shares of metex corp or 212 pct of the total and left open the possibility that it might acquire more through a merger
northern indiana public service co is full name of company
the department of energy earlier this week released a report that warned of rising us reliance on foreign oil imports at a time when domestic production is declining
he said the two companies are discussing the possibility of jointly developing a sports car aimed primarily at the us market
nor did it specify if the sources were official or other contacts
paues said the merger was a direct result of the sharp fall in oil prices 18 months ago which led oil firms to cut back exploration activities
philippine debt talks delayed for consultations
the company said the debt is expected to be listed on the luxembourg stock exchange
the shearson official said that virtually all buyers of the first tranche received less than they wanted
the firm believes it is on target to raise its share of the european market excluding france to 32 pct this year from 29 pct in 1986
the notes callable starting 1992 at 10150 have a final maturity on april 30 1995
gandalf technologies inc said it acquired a significant minority equity interest in privately held data voice solutions corp of newport beach calif for undisclosed terms
nioc has sold its crude for march shipment to japanese customers with different formulas
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
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
previously only residents of guangdong and fujian provinces could do this
it said it would pay an unchanged dividend on its ordinary share capital which is entirely in private hands and held largely by family foundations
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
south korean money supply falls in march
however preliminary consultations with bank representatives had shown some of the initial proposals to be flawed it said
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
total shipments in the third year of the us ussr grains agreement which ended september 30 amounted to 152600 tonnes of wheat 6808100 tonnes of corn and 1518700 tonnes of soybeans
foreign business accounted for 38 pct of orders against 40 pct in 1985
it added that spring sowing in southern parts of the country was some two weeks behind schedule because of the late thaw but gave no precise crop estimates
but he said the size of the cuts under consideration were not enough to give the federal reserve board the flexibility it needs to steer the economy or to keep the value of the dollar from plunging further in world exchange markets
a leading soviet economist said the practice of padding figures was significantly inflating the countrys industrial production data
brazil is defining details of public selling tenders for coffee bought on londons futures market last year
we dont care if it is eep what we the soviets are looking for is competitive prices ivlev said
us officials say about half of the orange juice consumed in the united states comes from brazil
asian dollar market assets fall in january
adams russell electronics co inc said it has acquired hermetronics plc a maker of hermetic integrated circuit packages for about 600000 dlrs
federal reserve weekly m 2 components feb 26 week feb 16 vs feb 9 daily avg billions seasonally adjusted unadjusted currency 1869 vs 1868 1856 vs 1857 demand depos 3003 vs 3000 2915 vs 2956 other check 2429 vs 2412 2400 vs 2427 savings 1643 vs 1632 1628 vs 1619 small time 3622 vs 3629 3619 vs 3627 mmdas commercial bank only 3782 vs 3791 o n repos 589 vs 590 o n euros 186 vs 192
and it sets up a council on industrial competitiveness composed of industry and administration members to explore ways to make the us more competitive in world markets
mexico received the first 250 mln dlrs of a 500 mln dlr credit from japans eximbank to finance a mexican oil pipeline the finance ministry announced
westpac itself has agreed to be co lead manager of both tranches and two small syndicates are being formed morgan guaranty said
german sugar offers put at about 100000 tonnes
commtron corp cmr 2nd qtr feb 28 net
us bill sales seen at 574 72 582 81 pct
results exclude extraordinary gain from net loss carryforward of 228000 dlrs or three cts a shr in the 1987 3rd qtr and 1043000 dlrs or 18 cts in the 1987 nine mths
recoton corp rcot 4th qtr loss
if the charges are proven the firm could face a fine of up to 800 mln dlrs
a bank of france spokesman declined all comment but sources close to the central bank said it had also intervened yesterday
bilbao one port vietnam 5000 mt steels fio 1000 500 end april singapore mizushima 6000 10000 mt steel scrap fiot 1200 300 2 12 4
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
the treasury said an outright us ban of uranium ore and oxide might cause foreign electric utilities to divert their south african origin ore and oxide to other countries including the soviet union for processing
may department stores co may and k mart corp km were among the strong performers posting comparable store sales gains of 94 pct and 82 pct respectively
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
under the plan the board declared a dividend of one share purchase right for each of the northeast common shares held of record as of november two the company said
the bank had initially been reluctant to countenance a rate cut because dealers said the authorities had wished to delay a reduction until around the time of the uk budget on march 17 thereby preserving the full impact of chancellor of the exchequer nigel lawsons package of measures
iran said to attack cypriot tanker
japans jobless seen rising to 33 pct in 1987 88
1985 net includes gain 4800009 dlrs from reversl of recapture taxes
hong kong firm ups wrather wco stake to 28 pct
its going to come sooner than anyone thinks anderson told reporters after addressing a houston business lunch
the canadian us pact signed by two sides two weeks ago has yet been approved by the us congress and canadian parliament
shearson follows goldman sachs and co in finding a japanese partner
oii said the new york stock exchange said the securities will be delisted as a result of the merger
the commonwealth bank of australia is issuing a novel 100 mln australian dlr eurobond due april 6 1992 paying an initial coupon of 16 pct and priced at 101 pct lead manager swiss bank corporation international said
the bank declined to comment on its reasons for resisting pressure for a rate move before the budget but banking sources said the authorities see the recent rise in sterling as more than just marking up by foreign exchange traders
national capitals are due to be reimbursed later out of savings from another plan to curb milk production
we do not understand why the g 7 approved present rates as the yen has risen excessively since the paris accord ishihara said
the new south wales treasury corporation is issuing a 100 mln australian dlr eurobond due may 27 1992 paying 14 1 4 pct and priced at 101 7 8 pct lead manager county natwest capital markets said
the shareholders meeting take place on may 22 in hamburg
as a result there were a series of baking seminars as well as the trial batch in an effort to satisfy local flour millers and convince key officials of the qualities of us wheat
u s west usw 3rd qtr net
london international raise profits by 305 mln
shr loss 12 cts vs loss five cts net loss 347849 vs loss 103489 sales 222697 vs 150534
last year copper demand was second highest on record behind 1984 he said
1985 fl yr net includes gain of 101 mln dlrs
with more private investment not more protection the us textile industry could become competitive with the most modern foreign producers analysts from two congressional agencies said today
we saw continued demand for our personal computers across the quarter with march 1987 being a particularly strong month
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
industry sources said this represented under one months consumption
bank of japan to sell 400 billion yen in bills
iraqi oil minister replaced official
under the alternative offer the citicorp unit with cyacqs approval proposed to acquire the industrial group from dixons
in 1985 more than 200 were feared dead after two ferries sank near dhaka 174 drowned when a ferry capsized in china and 147 died when a launch sank off the malaysian state of sabah
without these currency fluctuations net profit would have been 307 mln guilders higher and revenue 197 billion higher natned said
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
at current rate with tax credits is equal to 259 dlrs
us m 1 money supply rose 21 billion dlrs to a seasonally adjusted 7367 billion dlrs in the february 16 week the federal reserve said
canadian home shopping cwsto 1st qtr loss
qtly div three cts vs three cts prior pay may 1 record march 31
a foreign banker close to the debt negotiations said he did not foresee any real boom until 1989
the one week meeting which ended today was held to examine a us initiative to set up a copper study group
youll find a lot of people who think we have not done the former enough
shr loss 27 cts vs profit one ct net loss 532376 vs profit 15584 revs 1899719 vs 2432256 six mths shr loss 78 cts vs profit two cts net loss 1521002 vs profit 30145 revs 3235907 vs 5276119 note year ago net includes gain from tax carryforwards of 5000 dlrs in quarter and 9000 dlrs in year
at the end of february total bank credits to the private sector were 4 1 2 pct above the february 1986 level
an embassy official declined to identify which issues remained to be resolved and when the talks would resume
the group said action by japan to cut back on semiconductor exports is not what is required
congressional sources said there has not been enough time to study the implications of a broad 0 92
brown group inc bg 4th qtr jan 31 net
earnings in 1986 before extraordinary items were 74 mln dlrs
the company reported net income for 1986 of 373 mln dlrs or 145 dlrs per share
it said the product line is designed for remote ibm mainframe to mainframe data communications
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
in february m 2 was 182 billion dlrs below its upper limit and m 3 was 208 billion beneath
the company said it has decided to sell plainwell in ordfer to focus on the production of kraft and tissue products containers and treated wood products
it said it anticipates the results of the audit will be available in mid to late april 1987
gzb said in a statement that the amount being issued between today and march 6 had been raised due to heavy demand
australian treasury note tender 700 mln dlrs
finance minister kiichi miyazawa told the same committee that the six britain canada france japan the us and west germany had intervened aggressively since the dollar fell below 150 yen
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
in return for accepting a lower yield the amount of debt converted will be subtracted from the banks exposure for purposes of calculating its contribution to future new loans
p and f industries inc pfina 4th qtr net
it has increased taxes reduced public expenditure and refinanced its internal debt
debentures and equity shares floated by private companies still account for at least 60 pct of total capital raised in stock exchanges the ministry official said
zico investment holdings inc said that bancroft convertible fund inc filed suit seeking to enjoin zicos 30 dlr a share tender offer for 500000 bancroft shares
mechanically separated meat is made by placing carcass parts which usually have been hand trimmed but still have some remaining meat into specialized processing equipment
it said the 12 year facility guaranteed by the indian government carries interest at a fixed rate of 740 pct
nordic investment bank is issuing a 300 mln danish crown bond due april 15 1994 priced at par with an 11 1 4 pct coupon lead manager enskilda securities said
aidc issues first australian dlr medium term notes
january sales totalled 207 mln tonnes against 259 mln in december and 204 mln a year earlier while end month stocks were 233003 tonnes against 230764 and 241567
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
saudi arabia cut lpg shipments to japan and elsewhere by 20 pct in september after a fire put a major gas plant at al juaimah out of operation
the south african central bank said in its quarterly bulletin that confidence in the economy improved from january to may 31 because of the higher gold price a rise in the nations gold and foreign currency reserves and an improvement in the rands exchange rate to just under 50 us cents
there is a strong feeling among some in the state department that the united states should continue to support the splinter group of producers who have taken the politically risky step of opposing brazil on the objective criteria question us officials said
the union said the total severance payment will be about five mln dlrs
baker also noted the nations agreed in the accord to co operate to foster greater exchange rate stability around those levels he refused to comment directly on the current yen dollar rate but said flatly that foreign exchange markets recently tended to draw unwarranted inferences from what i say baker was quoted on british television over the weekend as saying he has no target for the us currency a statement that triggered this weeks renewed decline of the dollar
two small shipping companies have reached a pay deal with striking seamen but union leaders said most of brazils 40000 seamen were still on strike
gencorp gy fixes rights separation date
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
implementation of a 0 92 program for 1987 winter wheat and 1988 feedgrains crops has been introduced by glickman which he said would result in a 150 200 mln dlr savings for one year
stephen t
brokers enskilda fondkommission said in a report this month that astra was a world leader in anti viral drugs
kidder peabodys kirnan said cost reductions and product improvements this year should lead to positive cash flow by the fourth quarter which will help gm finance the buyback
rpt us says tin disposals will not affect accord
baker said the louvre accord was still operative but he strongly criticised west german moves to raise key interest rates
strong south easterly winds were keeping many vessels trapped in the ice off the finnish and swedish coasts in one of the worst icy periods in the baltic for many years the finnish board of navigation said
non callable for seven years the issue is rated a 2 by moodys investors service inc and a by standard and poors corp
it will buy back the debentures at 105286 dlrs for each 1000 dlr principal amount including interest digital said
fees total two pct with 1 1 4 points for selling and 3 8 each for management and underwriting
allegis has 100 pct ownership in westin hotels in vancouver calgary ottawa and toronto and 100 pct interest in hilton international hotels in toronto and montreal
the magazines us editiion begun last year now has a paid circulation of 180000 the company said
moore mcl sees substantial 1987 profit gain
the remainder will fund capital expenditures for additional restaurants and for general corporate purposes
the english language paper said the bureacracy was not aggressive or imaginative in responding to indonesias economic problems which include fiscal restraints due to drastically declining oil revenues increasing unemployment and marketing problems for its major export commodities
raw sugar denatured and non denatured 4405 versus 4369 previously
however cuba is only one of a large number of exporters with reduced availability man said
atlantic express inc 1st half dec 31 net
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
the current account deficit fell at the lower end of the range of forecasts of 700 mln to one billion dlrs made by market economists yesterday
coconuts are planted on about 32 mln hectares or one fourth of total agricultural land
terms of trade are the difference between import and export price indexes
more uk lenders are offering homebuyers fixed interest rate mortgages under which the borrower makes the same monthly payment no matter what happens to other interest rates
coastal corp cgp said it raised the postings of crude oil 50 cts a barrel across the board effective yesterday june 17
reagan to announce decision on japan sanctions
shr 38 cts vs 36 cts prior pay july 31 record june 23
under terms of the agreement chemlawn said it rescinded its previously announced rights dividend plan
dan glickman d kan chairman of the house agriculture subcommittee on wheat soybeans and feedgrains said he would today introduce a bill to apply the so called 0 92 concept to wheat and feedgrains producers
electronic technologies manufactures quartz crystal components oak said
but there was no official word on military movements apart from a comment by the government spokesman that the greek navy was no longer in port
we have never had a default
utah power and light co utp 1st qtr net
sudan unable to fully service its debts since 1985 and declared ineligible last year by the international monetary fund for fresh loans has been servicing only creditors banned from extending fresh loans to recipients in arrears
zenith laboratories inc zen 4th qtr loss
fed adds reserves via customer repurchases
this apparently ruled out congressional approval of another textile trade bill to limit quotas on textile imports as was proposed again this year
uk growth rate seen at three pct this year
he said there were other variables to consider in any decision whether to close or continue the smelter located in hawesville about 60 miles west of louisville
norway central bank sells crowns to ease upward pressure on currency dealers
bnl president nerio nesi told a news conference the italian bank was currently involved in talks but declined to name the german institution
china does not publish gold production figures
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
but i do suggest he said that we need something to give it more stability and to keep it headed in the right direction when the wind shifts he said that indicators can serve as a kind of compass but added that structural indicators can help focus attention on some policies
chairman donald clark in remarks prepared for delivery to new york security analysts cited increased earnings from household financial services and excellent return on equity from household manufacturing combined with the impact of our share repurchase program will result in higher earnings per share and improved return on equity in 1987
our main difficulty will be to persuade the us on the consumer side and brazil on the producer side to agree to quota re introduction he said
the belgian governments new 150 billion franc eight pct loan has been priced at par a finance ministry spokesman said
1986 net includes tax crdits of 2942000 dlrs in quarter and 2729000 dlrs in year
becor western bcw gets offer to be acquired
payment is due april 30
operating profit 3376 mln vs 265 mln depreciation 1034 mln up 122 pct capital spending 846 mln down 157 pct
delegates from 23 countries are attending the talks of the world trade body in the new zealand resort of taupo
we expect to file papers late tonight asking the icc to reopen the rail merger case spokesman rich hall said in a telephone interview from the companys chicago headquarters
japan the netherlands mexico and portugal were the main buyers the department said
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
the temperature in west texas since mid week has been about 95 degrees
in denmark the oecd said wage settlements concluded in early 1987 were likely to contribute to a marked deterioration in competitiveness
growers is owned by commercial chairman sid schuman jr
further drilling is being conducted it said
earlier the bank forecast the system would face a very large deficit today of around 175 billion stg
aloette cosmetics inc alet 4th qtr dec 31 net
toronto dominion issues 20 billion yen eurobond
to the best of our knowledge jefferies is not the target of a formal sec investigation in connection with the tre bid he said
owens and minor inc obod raises qtly dividend
the bill extends reagans authority to negotiate an international coffee agreement through october 31 1989
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
some see crude stock levels unchanged to three mln barrels higher while others think inventories could be as much as five mln barrels below the previous week
the issues value had been enhanced by its partly paid structure which not only enabled investors to defer payment of the major part of the price until april 27 but also conferred a substantial gearing element
it had opened in tokyo at 14580 yen
he said participants in financial markets and business remain skeptical of prospects for lasting price stability
but us officials have said that while japan has stopped dumping in the us market it has not ended third country dumping nor has it opened its market to us semiconductors
the administration also plans to renew its efforts to repeal the windfall profits tax remove bars to drilling on the outer continental shelf and repeal the law that limits the use of natural gas in industrial and utility boilers it added
altus bank altso 3rd qtr net
tiger international tgr pays interest in stock
shr profit 30 cts vs profit three cts net profit 3933000 vs profit 436000 revs 704 mln vs 472 mln avg 132 mln vs 130 mln nine mths shr profit 85 cts vs loss 17 cts net profit 112 mln vs loss 2083000 revs 1921 mln vs 1448 mln avg shrs 132 mln vs 120 mln
steven symms a conservative republican from idaho have introduced legislation that would strictly limit us funding of multinational development banks if they make any loans to help developing countries produce surplus commodities or minerals
it has purchased 15 mln barrels of iranian heavy for april shipment for refining in singapore
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
the bill would allow farmers to forego planting and still receive 92 pct of deficiency payments
nigeria and guinea agreed to set up a new company with liberia to carry out the 14 year old mifergui nimba iron ore project an official communique said
south koreas trade surplus is growing too fast and the government has started taking steps to slow it down deputy prime minister kim mahn je 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
in 1986 it reported revenue of 55 mln canadian dlrs with a pretax loss of 16 mln compared with a 19 mln profit in 1985
in its 1986 yearend financial statement southwestern bell listed a debt to equity ratio of 434 pct down slightly from 437 pct in 1985
mattson told that baker still believed a merger was possible between the two giant oilfield service companies
further details including the amount being offered will be announced monday
japan rating agencies in battle with us giants
twa twa declines comment on usair u 
coleco industries inc said it expects to return to profitability in 1987
the payment date was given as april 24 1987 with denominations at 10000 crowns and listing in luxembourg
this confirms provisional figures released at the end of last month
unocal ucl sells seven and 10 year notes
wall street stocks ual inc ual 
it was an entry point a port for semiconductors and a marketing channel for other things said barclays de zoete wedd analyst rick may
argentine subproducts shipments during january december 1986 totalled 5618315 tonnes against 4815188 tonnes in the same period of 1985 the argentine grain board said
departing deputy treasury secretary richard darman told the same television network he agreed that the us dollar had not fallen enough against the currencies of some countries
western digtial corp said it has completed the redemption of its 47 mln dlr 6 3 4 pct convertible subordinated debentures due 2011
agip canada said it would retain offshore exploration blocks in labrador a gold mine in yukon territory and uranium interests in saskatchewan
the court however ruled that apex oil could pursue anititrust and commodities market manipulation allegations against belcher oil co a unit of coastal corp cgp apex oil primarily a trading company charged that several companies including belcher and nymex conspired to force it to deliver heating oil it had sold on the mercantile exchange knowing apex could not make full delivery
sales are expected to exceed 100 mln dlrs for the fiscal year ending june 30 the companies said in a joint statement
expressed in terms of dollars imports rose 212 pct and exports 261 pct and the trade deficit increased by 78 pct
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
most of the growth occurred in manufacturing and construction
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
all shares tendered to waste management will be returned to shareholders as soon as practical it said
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
magnetic technologies mtcc sees improvement
one day after the texas commerce acquisition was announced in december interfirst corp ifc and republicbank corp rpt both headquartered in dallas agreed to merge in a deal valued at 570 mln dlrs
arts way manufacturing co inc is full name of company
qtr ended jan 31 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
anglo american aivjj year to dec 31
pegasus gold reduces debt starts mine
3tandard and poors yesterday lowered the rating on danish long term external debt to aa from aa plus saying denmark was less competitive with rising labour costs and this would worsen the external account deficit and increase external debt
t rowe price trow sees higher first quarter
shr loss 52 cts vs profit 16 cts net loss 4987000 vs profit 1570000 revs 180 mln vs 247 mln six mths shr loss 214 dlrs vs loss seven cts net loss 20525000 vs loss 557000 revs 256 mln vs 308 mln note full name de laurentiis entertainment group inc
he said he had nothing further to add
cyclops cyl says dixons appointees resign
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
however the el nino has resulted in a much improved supply of irrigation water in the major dams which will improve prospects for many crucial crops such as rice and corn and slow the decline in sugar production it said
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
spi pharmaceuticals inc spip 1st qtr oper net
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
by contrast the personnel and fixed asset expenses increased
the warrants are exerciseable at 950 dlrs a share he said
european commission president jacques delors quoted by le monde newspaper said he favoured a franco german candidate to take over cie generale de constructions telephoniques which has a 16 pct stake in the french public telephone switching market
call money fell to 390 40 pct after the move
the company said it reacted swiftly to the sharp drop in oil prices which began over a year ago
as previoiusly announced the proposal calls for a transaction in which pnp shareholders would receive a combination of 1750 dlrs in cash and 250 dlrs in liquidation value of cumulative preferred stock for each common share
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
the sale comprised two 12000 to 14000 tonne cargoes plus or minus 10 pct for mar apr shipment a kaines trader said
not all the bids will be accepted hertz said but enrollment is expected to be high
it said in a statement it has bought an extra 94 mln shares at prices ranging from 380 nz dlrs to 480
dayton hudson dh not interested in acquisition
a vessel carrying 13500 long tons of bagged wheat flour from the gulf to aqaba received a lump sum of 472500 dlrs
glamis gold glgvf sets common stock split
transamerica said it has now signed a definitive agreement for the sale which will be structured as a reinsurance transaction involving about 400 mln dlrs of reserve liabilities
germany near its research and development facility
british telecom raises 1986 87 profit 117 pct
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
south korea has banned beef imports but there are indications seoul may bow to us pressure and allow some imports soon industry officials said
weatherford international inc said it reached an agreement to restructure about 41 mln dlrs of debt held by bank and insurance company lenders
reichhold chemicals inc said its emulsion polymers division increased by nine cts per dry pound the prices of all styrene butadiene and polystyrene latexes effective may 1
dividend pay dec 15 record nov 30
newmont said magma had total sales of 3473 mln dlrs last year including copper sales of 2934 mln dlrs
this amount represents about a third of annual ec exports to non ec countries
maoist guerrillas using dynamite interrupted train traffic two days ago when they blew up railway tracks and derailed a train laden with minerals 225 km 135 miles east of lima at chacapalca between the coast and cobriza
a spokesman for unilever plc unas declined to comment on market rumours that it may be considering a bid for the us health care group the gillette co gsn gillette shares are traded on the over the counter market in london and this morning stood one dollar higher at 38 dlrs in response to the bid speculation
he said 1986 profits surged mainly after acquisitions and reorganisations aimed at reducing costs and solving operational problems such as unsatisfactory management in the firms stationary office equipment and leisure articles division
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
adequate soil moisture in these areas met crop moisture demands reducing the potential for crop stress it said
commercial banks have tended to be rather difficult in terms of new money for some time now he told reporters at a news conference
overproduction by opec will become a real problem in the fourth quarter when the quota is raised to 183 mln barrels a day and iraqs pipeline through turkey brings another 500000 barrels to the market each day said john lichtblau president of petroleum industry ressearch foundation
he said spains current wave of strikes mainly affected the state sector where the government is trying to impose its five pct wage ceiling
the joint committee of taiwans soybean importers will tender march 12 for a 27000 tonne cargo of us soybeans for march 20 to april 5 delivery a committee spokesman told 
the legal status of yen cp would be the same as yen commercial bills and it would be placed by an intermediary bank or securities house securities managers said
if dollar follows wall street japanese will divest
he said us taxpayers are taxed at a rate of 19 pct of gnp which is traditionally where it has been but the federal government is spending at a rate of 24 pct of gnp
financial markets welcomed public spending cuts announced by irelands new minority government in its budget saying the move would lead to lower interest rates
bp managing director says company does not plan to hike 70 dlrs standard offer
keh fei lo vice president of first commercial bank said it appears the central banks move to curb the capital inflow is quite successful vice economic minister wang chien shien said the slower rise in foreign exchange reserves would help ease pressure from washington over the large us trade deficit with taiwan
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
the company said eight of nine holes drilled on the new ore zone have an average grade of 0046 ounces of gold per ton and 21 ounces of silver per ton
suffield financial corp said the federal reserve board approved its application to acquire coastal bancorp csbk portland me
asked if he thought loan losses in those areas had peaked he said i dont think it has bottomed out because i think most of the problems are real estate related and the real estate problems are going to be with us for several years pinola said another failing economic sector agriculture in the midwest has slowed expansion of first interstates franchise operation
philadelphia based reliance earned 253 mln dlrs on sales of 2016 mln dlrs in 1986
opec differentials not seen posing major problems
standard and poors corp said it cut to ccc plus from b minus lanesborough corps 50 mln dlrs of senior subordinated notes
texaco last changed its crude oil postings on september 15
merrill lynch said it expects to announce the final proration factor within 10 business days and begin payment immediately thereafter
beazer will grant underwriters an option to purchase another 937500 adss to cover overallotments
according to the boersen zeitung newspaper schmidt said vw would invest 42 billion pesetas in seat this year and in the years to 1995 would spend 462 billion on its new spanish unit
us exporters report 455000 tonnes of wheat sold to china for 1986 87 and 1987 88
it said the increase will affect the floor covering markets paper paperboard and specialty markets
the new price is similar to other oil companies price for the same grade
pagecorp also said all class b shareholders have agreed to deposit their class b shares if gordon proceeds with its offer
nederlandsche middenstandsbank nv said it planned a 50 mln australian dollar 145 pct three year bullet eurobond issue at 1015 pct
emcore said it completed the sale of 41 mln dlrs of stock to citicorp venture capital ltd concord ventures of dillon read and co and private investors
ironically it was growmark at that time a regional farm cooperative with major river terminal elevators that founded illinois cooperative futures on december 1 1960
towards the end of last week about 10000 angry west german farmers marched through the streets of hanover burning effigies of agriculture minister ignaz kiechle while in france pig farmers barricaded roads in protest at falling prices
oper shr loss one cts vs loss five cts oper net loss 15000 vs loss 79000 revs 6244000 vs 8148000 avg shrs 1912000 vs 1537000 nine mths oper shr profit 19 cts vs profit 22 cts oper net profit 347000 vs profit 341000 revs 226 mln vs 285 mln avg shrs 1840000 vs 1537000 note oper excludes tax losses of 13000 vs 85000 for qtr and tax credits of 258000 vs 235000 for nine mths
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
iranian tanker reports sighting mine in gulf
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
ec grants free market barley maize exports
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
viatech inc vtk year net
gobert characterized the market action in dome today as awfully optimistic given transcanadas offer to give current dome shareholders stock in a new subsidiary which it valued at 110 dlrs canadian per common share
the subcommittee had not yet completed the preparatory work to start writing the legislation the aide said
azpurua said financing has also been obtained for expansion of alcasa another state aluminum company and for projects in the state steel and petrochemical industries
calstar inc said it entered a new term loan agreement with national city bank of minneapolis
tokyo dealers said the japanese central bank bought dollars in tokyo earlier today
us february trade to be reported on new basis
sonex research sonx custom auto uses more gas
if future dividends are not declared after the april exchangeable preferred quarterly payout future payment will depend on the amount of dividends received from westcoast transmission co wtc bc resources said
the bank said this will be the largest such program ever established by a us or foreign commercial bank
i think all partners are hopeful that the situation will be resolved comincos townson said
borg warner cant quibble that its not a legitimate offer
a meeting of eight latin american coffee producers ended with a call for continued talks aimed at arriving at an agreement to stabilize international prices
del e
but the report said the growth rate of malaysias external debt remains worrying and should be controlled
prime minister turgut ozal said last night the ship would not go into international waters unless greece did the same
analysts speculated a partial spinoff would make most sense contrary to one variation on market rumors of a total spinoff
ecuador to export no oil for four months official
liquidity among private households and especially the corporate sector has increased substantially he said
peerless manufacturing pmfgo sells unit
richard gephardt said
earlier aero reported a 1986 year end net loss of 30 mln dlrs compared to a profit of 483000 dlrs in 1985
analysts said fitness clubs will likely flourish if the public stays at its peak of health consciousness but that overcapacity is likely to occur as consumer enthusiasm wanes
us health inc ushi 2nd qtr jan 31 net
chinas outstanding foreign debts rose to 7572 billion at end 1986 from 5067 billion at end 1985
as was widely expected lawson split his fiscal adjustment between trimming the 1987 88 psbr target to 40 billion stg from 71 billion and cutting basic rate income tax from 29 to 27 pct
opec agreed in december to cut overall oil production by 725 pct to 158 mln barrels per day bpd for the first six months of this year and abide by fixed prices around 18 dlrs a barrel from february 1
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
smith barney cuts rating on mcgraw hill mhp 
japan wanted the paris communique to imply a higher value for the dollar perhaps by substituting the word recent for current while the united states wanted it to more clearly point to the dollars weaker levels now perhaps by use of the word present they said
indonesia was one of a group of eight producing countries along with costa rica the dominican republic ecuador honduras india papua new guinea and peru which proposed a new quota system at last months failed international coffee organistion ico talks in london
saudi arabias king fahd said last month that he wanted oil prices to remain stable for the next two years
p and o plans warrant issue to mark anniversary
joe minerals corp
the market is mindful of approaching summer holidays in industrial countries and there is an air of uncertainty beyond july it said
finance secretary jaime ongpin has said landowners are likely to be paid 10 pct in cash and the rest in 10 year bonds with 10 pct of their face value redeemable each year
colombia opens coffee registrations ldn trade
it said the strong rise in the longer leading index between december and february was due mainly to rises in share prices
fortune systems corp said its shareholders approved the sale of its computer hardware business to sci technologies inc
even though the fed chief joined baker in expressing more confidence in an optimistic outcome volcker was especially concerned about the political risks and in particular the fatigue with belt tightening
ual inc may have a response this afternoon to the pilots union proposal to buy its united airlines unit a ual spokesman said
they added the shares are covertible into paine webber groups common stock at a conversion price of 44125 dlrs a share
he said in a letter to congressmen that unless the program now run by the energy department is improved sales worth five billion dlrs could be lost between 1990 and 2000
he also said capital expenditures should be about 400 mln dlrs in 1987
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
a portland based wood products company has signed a 13 mln dlr contract with the iraqi government to supply finished softwood lumber to iraq edward niedermeyer president of niedermeyer martin co said yesterday
us agriculture secretary richard lyng opens talks with japanese government officials today well aware his demand for the opening of japanese rice beef and citrus markets is likely to be rejected
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
state quarantines have been placed on the two facilities in hunt valley maryland and schenectady new york
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
three black workers were killed and seven injured in fighting at a south african zinc refinery last night gold fields of south africa ltd said
multilateral agencies by their very nature are lenders of last resort
january crude oil movements fall seven mln tons
now they are
france fund inc frn sets initial dividend
the usda projected an average yield of 150 gallons of fcoj per box versus last months estimate of 147 gallons
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
prospects appear slim for a summer meeting between us and soviet officials before the two countries enter the final year of their bilateral grains agreement agriculture department officials said
ncr corp earlier reporting higher first quarter profit said it continues to expect that it will report record earnings and revenue for all of 1987
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
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
lawson said the us should embark on a gradual reduction of its fiscal deficits over the next two or three years he said the february 22 louvre accord had produced satisfactory exchange rate stability in part thanks to heavy coordinated intervention of group of seven central banks and he was content with sterlings exchange 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
qtly div three cts vs three cts prior pay march 13 record february 27
companys full name is volkswagen ag vowgf
uk money market deficit revised downwards
brazilian red meat output down sharply usda
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 officials told miti asked them to moderate their foreign exchange trading because the excessive rise in the yen will have unfavourable effects on the economy
people rush to judgment but once they get to know greenspan im sure theyll find him an excellent replacement said hormats a former administration official
the department said the bonuses awarded averaged 11684 dlrs per tonne
prior year net includes losses from discontinued operations of 200000 dlrs in quarter and 573000 dlrs in nine mths
a psd majority would also open the way for more wide ranging reforms such as relaxation of labour laws and possible denationalisation of industry the analysts said
nakasone to visit washington in late april
terms of the extension require nuclear data to obtain replacement financing from outside sources before june 30 it said
the government plans to go ahead with a three billion franc package to help the long term unemployed with the aim of guaranteeing social security payments to everyone becoming redundant government officials said
it said crop conditions were better than earlier expected following the extreme dry conditions last fall and the prolonged winter temperatures this spring
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
republic automotive parts raut 4th qtr loss
he told reporters 1987 has started well for cathay pacific airways which looks forward to another good year swire properties expects further good results both from properties under development for sale and from its investment property portfolio he did not give any specific projections for earnings
domestic expansion in foreign industrial countries has not been enough to offset the effects of slower exports volcker said
as a result of the merger borg warner will become a wholly owned subsidiary of av holdings
bull and bear group a bnbga cuts fund payouts
rochester telephone corp rtc sets dividend
india oilseed output forecast to rise
many stripper wells along the southern california coast produce eight times as much water as crude oil and inland wells frequently require the use of steam injection to spur extraction of the thick heavy oil he said
were going to reduce ai to a size consistent with our financial resources said chairman oliver s
dutch shipping and transport group phs van ommeren nv ommnas said it has taken over a small dutch gas container firm as a first step in establishing a world wide gas container organisation
us steel firms study usx unit price hike
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
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
the smelter also produced cadmium bismuth and indium
three united steelworkers of america locals on strike at cominco ltd rejected a tentative three year contract a union representative said
the handelsblatt newspaper today quoted at and t chairman james e
qtly div 30 cts vs 30 cts prior payable may one record april 10 notebryn mawr was reorganized as a holding company on january 2 1987 resulting in each share of bryn mawr trust co being converted into three shares of the new holding companys stock
bristol myers co bmy sets quarterly
the cwe is a semi government body and the official said arrangements are being made for state cooperatives and holders of food subsidy stamps to draw their sugar from it starting april 1
those few who have denied their responsibility have turned their backs on this remarkable effort of international cooperation on the financial system and on their enlightened colleagues petricioli said
despite the softer undertone traders would remain wary of taking significant new positions during the washington meetings dealers said
however mcm said it now believes it is possible that the units liabilities may exceed 26 mln dlrs
moodys earlier today downgraded six billion dlrs of merrill debt citing lagging profitability relative to other brokerage firms and increased competition
the epidemic first engulfed the villages and has now also firmly settled into cities where the availability of natural gas running water and privacy has made it much easier kremlin leader mikhail gorbachev launched the anti alcohol campaign shortly after taking office in march 1985 as a first step to improving soviet economic performance which had been seriously hurt by drunkenness among the working population
he declined to say if the current ceiling should be maintained or raised to 166 mln bpd for the third quarter and 183 mln for the fourth as provisionally agreed last december
it would be ideal if we reach a point where movement of capital and earnings can be free he said
shr 970p vs 853p div 225p vs 200p making 350p vs 305p pretax profit 2539 mln stg vs 2679 mln tax 963 mln vs 1256 mln operating income 115 billion vs 9988 mln operating expenses 7593 mln vs 6927 mln trading profit before charge for bad and doubtful debts 3944 mln stg vs 3061 mln charge for bad and doubtful debts 1842 mln vs 1007 mln share of profits of associates 437 mln vs 625 mln minority interests 66 mln debit vs 96 mln debit extraordinary items 87 mln debit vs 157 mln credit operating income includes interest income 249 billion vs 233 billion interest expenses 177 billion vs 164 billion other operating income 4288 mln vs 3132 mln operating expenses include staff 4059 mln vs 3760 mln premises and equipment 1970 mln vs 1552 mln others 1564 mln vs 1615 mln pretax profit includes north america 658 mln vs 496 mln asia pacific 09 mln vs 318 mln middle east and south asia 177 mln vs 23 mln tropical africa 475 mln vs 447 mln uk 1076 mln vs 1357 mln south africa 368 mln vs 356 mln
shr 42 cts vs 153 dlrs net 33085000 vs 123450000 revs 5350 mln vs 4967 mln avg shrs 78755000 vs 80666000 nine mths shr 124 dlrs vs 335 dlrs net 98322000 vs 271512000 revs 158 billion vs 149 billion avg shrs 78999000 vs 81022000 note 1987 per share earnings include daily news severance charges of 11 cts a share in the quarter and 13 cts a share for the nine months 1986 net income includes non recurring gains of 111 dlrs a share in the quarter and 223 dlrs a share in the nine months and five cts a share daily news severance charges
the borrowing countries need to be able to proceed with confidence that the necessary funds will be available to them he said
the airlines argued that westerns promise could not be enforced in a takeover by a larger company
the smelter near frankfurt had annual capacity of about 44000 metric tons but was operating at about half that in january spokesman fernand leclerc said
allieds shares were 3p up at 401p which values the company at around 275 billion stg
elders said its application to investment canada is still being processed under normal review procedures
1986 nine mths net includes a charge of 289 mln dlrs or 19 cts a share for early retirement program and withdrawal of contac cold remedy from the market due to tampering
discount window borrowings were in line with expectations at 233 mln dlrs a day
japan says it trying to expand domestic demand
the finance ministry commissioned banks and securities houses agreed in january to lower the eligibility ceiling for companies wanting to issue non collateral straight bonds
oracle corp orcl 3rd qtr feb 28 net
last falls dry weather may limit livestock grazing on moisture depleted pastures while the cold winter weather necessitated supplemental feeding to keep livestock healthy
time said it expects to fund the tender offer and redemption through one or more public issues of intermediate or long term debt
the ministry said the debt rationalisation exercise similar to one carried out in 1958 and 1959 would take out of circulation old issues which were expensive to manage and difficult to trade because of their highly complex structure
this year it plans to buy 400000 tonnes on the spot market compared with about 13 mln tonnes last year
crazy eddie inc said its board of directors amended the companys shareholder rights plan in moves it said were designed to preserve stockholder protection and provide flexibility to the plan
sweden in a similar move last week promised to halt all trade with south africa by october
cpc international inc said it has completed previously announced transactions involving its grocery products businesses in four asian countries with ajinomoto co inc ajint raising about 300 mln dlrs
later hilton plans to use borrowings from traditional sources he added
the seven year certificates carry a first year coupon payable april 21 1988 of 486 pct identical to that on the preceding issue in march
schering plough sgp trademark dispute settled
our rationale is that we reviewed the application for control filed by twa with the dot and ascertained that it did not contain sufficient information upon which to base a competitive review james weiss an official in justices antitrust division told
bundesbank dealers are very professional and skilled
the three following first quarters resulted in losses of 3200000 dlrs 3500000 dlrs and 1800000 dlrs respectively the company said
rio de janeiro ibc estimates 1987 88 coffee crop at 352 mln bags
the oecd predicted that domestic demand would come under pressure from tight fiscal policy in denmark as well as norway sweden and finland
the treasurys operating cash balance totaled 12131 billion dlrs on march 27 compared with 13283 billion dlrs on march 26
the world bank has suspended loans to peru because the country has over two months of payment arrears with the lending agency central bank general manager hector neyra said
s and p downgraded mcorps senior debt to bbb minus from bbb plus subordinated debt to bb plus from bbb preferred to bb minus from bb and commercial paper to a 3 from a 2
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
moodys may lower atlantic city electric ate 
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
there will be a greater demand for funds in this statement period because it includes the close of the quarter
shr 40 cts vs 36 cts net 2309000 vs 2076000 revs 282 mln vs 304 mln
uk money market offered early assistance
assets under management rose to 1775 billion dlrs in 1986 from 1501 billion dlrs in 1985 while consolidated assets jumped to 1345 billion dlrs from 1157 billion dlrs
a group led by chas
in a filing with the securities and exchange commission the concern which comprises paragon associates and paragon associates ii said it bought the stake for 7659000 dlrs and may buy more shares
oregon steel buys kaisers napa valley plant
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
the other investor is mason slaine cos cob mass president of dealers digest inc
today usair rejected icahns 52 dlr per share offer and said the bid was a last minute effort to interfere in its takeover of piedmont
asked at a news conference whether central banks were prepared to intervene to defend currencies he said we cannot rule out the use of any instrument which leads to foreign currency stability however he added that in the end it was market forces which prevailed
above all it wants to wait to see how the unions wage round goes in west germany unions and employers prepare the ground for triennial wage negotiations based on detailed assessments of growth and inflation economists said
kerin said the broad ranging reference would allow a full examination of all aspects of the wheat marketing system
saudi renegotiation of aramco deal moving along
it said an insider trading definition should exempt a securities firm from liability for law violations by its employees unless the firm had participated in or was aware of the wrongdoing
worse how are european community sales to japan rising rapidly when the european currency unit has until now declined only 11 pct against the yen last weeks g 7 meeting in washington has been widely interpreted as a sign from the policy makers that the dollar must go lower
it has been reported a key stumbling block in the talks is a canadian proposal to find a new way to settle trade disputes something that would give canada protection from washingtons tough trade remedy laws
the napm said the economic improvement was evident in all of the indicators in the index except inventories which declined slightly
us scientists say tropical oils health risk
the gcc groups bahrain kuwait oman qatar saudi arabia and the united arab emirates uae the bank said the improvement would result from higher oil prices made possible by last decembers opec accord to restrain overall group production
samjens last week topped a 76 dlr per share offer for burlington from morgan stanley group ms by one dlr per share
rockefeller center properties inc said it raised its quarterly dividend to 45 cts from 44 cts a share
on september 23 1986 the day fiat announced it had reached an agreement under which libya would sell its 15 pct stake fiat shares closed in milan at 16600 lire
indonesias wheat imports are expected to fall to 15 mln tonnes in calendar 1987 from 169 mln in 1986 the us embassys annual agriculture report said
american motors board voted to postpone its annual shareholders meeting scheduled for april 29 in southfield michigan
he declined to forecast what if any policy decisions the bundesbank might take
as long as brazil sticks to its position there will not be quotas there is no point in meeting at the last council meeting brazil wanted to maintain its previous quota share of around 30 pct of the market
coastal said the plan is expected to be filed with the federal bankruptcy court on april 15
funaro rejects uk suggestion of imf brazil plan
both brazil and its creditors have a strong incentive to work together volcker said
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
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
disbursements of loans including previously approved loans fell to 5572 mln dinars from 7839 mln
industrial action ends at south african mine
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
peoples earned 105000 dlrs in last years first quarter and in all of 1986 lost 1768000 dlrs
ccc accepts bonus on barley to saudi arabia
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
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
advanced institutional management software inc said it has cut its workforce to 53 from 74 and closed its atlanta office to cut expenses and improve profitability
american can ac sees higher year net
humana said the rights become effective after an entity acquires 20 pct or more of its outstanding common or tenders for 30 pct of its stock
the economy is ready for about a 20 pct rate of growth over the course of 1987 said carl beigie chief economist at dominion securities pitfield ltd
the wheat flour is for delivery may 15 june 15 1987 the department said
india buys vegetable oils pakistan to retender
aziz said following the introduction of a government support price in the 1970s the system become so corrupted that only 20 to 25 pct of subsidised wheat was actually reaching the consumer the rest being diverted illicitly to the mills
in west germany recent price rises have not altered plans since planting decisions were taken a few months ago industry sources said
one dealer said the bank of japan probably intervened in australia before the opening here but could not confirm this
the credit guarantees were previously earmarked for sales of us dry edible beans and rice it said
rhine blocked for three more weeks salvager
i view it as pre negotiation posturing said analyst carole berger of cyrus j
ec to boost spending on job creation this year
gmac plans to talk to korth and painewebber and get their thoughts on the deal
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
sale of texas based krestmark a maker of doors door frames and other products will allow michigan general to concentrate on retailing through its diamond lumber and savannah wholesale units
f
ione inc six months march 31 net
computerland a privately held company said to be the worlds largest retailer of personal computers declined to provide details of the arrangement
allegheny today said it agreed to a buyout from first boston at 2460 dlrs per share
current competitive prices for us corn have also sparked soviet buying
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
payments for 1987 90 feedgrains crops would not be changed
standard closed in new york last night at 64 7 8 dlrs down 1 3 4 dlrs
yesterday tamuras ministry of international trade and industry miti launched a last ditch attempt to salvage the pact by writing letters to us policy makers setting out japans case and telling japanese chip makers to cut output
we must quickly open our markets remove trade barriers and cut import tariffs to allow imports of us products if we want to defuse problems from possible us retaliation said paul sheen chairman of textile exporters taiwan safe group a senior official of south koreas trade promotion association said the trade dispute between the us and japan might also lead to pressure on south korea whose chief exports are similar to those of japan
last year illinois regional had discussions with milwaukee based marine corp mcrp but no agreement was reached a company spokesman said
the same procedures will be undertaken for the foreign clones indentified as nab 12 rrim 725 fx25 ppn 2444 ppn 2447 krs 21 and ppn 2058
late season rains damaged soviet crops slowed harvest progress and lowered soviet production analysts said
it said computer trade had revenues of about 61 mln dlrs last year
soviet industrial output up in first quarter
discus corp disc 4th qtr loss
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
icahn has withdrawn his proposal to acquire the twa shares he does not already own due to the deterioration in market conditions
positive outlook tempered in us debt futures
its offer originally was scheduled to expire march 17 but was extended for one week
chemlawn chem seeks bids by march 18
a bank statement said the continuing rise in the cost of funds had to be passed on to the lending customers
the diplomatic sources said the citrus issue could be reopened if the pasta dispute was not solved quickly
asked by the newspaper bild am sonntag if lower interest rates could boost the domestic economy poehl said we would be badly advised if we forced further interest rate cuts
sudan receives 50 mln dlrs in pl480 authority
japan actively bought us corn last week trade
hawkins chemical inc hwkno 2nd qtr mar 31 net
it is a mechanism which we have availed ourselves of before and we would look at it again he said
shr 20 cts vs 17 cts net 680000 vs 533000 sales 6473000 vs 5996000 year shr 57 cts vs 84 cts net 1967000 vs 2099000 sales 208 mln vs 190 mln
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
silver state mining ssmc sees production rise
its the momentum beyond this year thats important
american brands failed late last year in its 29 billion dlrs bid for chesebrough ponds inc when unilever nv agreed to buy the company
israel cyprus and saudi arabia were the main buyers it said
lured by the weakening dollar and the conviction that oil prices are poised for a rebound european energy companies are buying up cheap us oil and gas reserves to replenish their supplies oil industry analysts said
hre properties hre 1st qtr jan 31 net
arco jumped 1 3 4 to 81 3 4
each eight year note of a 50000 franc face value has 15 warrants two of which entitle the holder to acquire 100 grams of gold at a price of 2350 francs
the philippines social security system sss is planning to buy eight mln shares in diversified brewer san miguel corp smc smc chief financial officer ramon del rosario said
both union and non union meatpackers who returned to work agreed to comply with iowa beefs last contract offer
australias seasonally adjusted real gross domestic product gdp rose 11 pct in the fourth quarter of 1986 after rising 02 pct in the third quarter the statistics bureau said
the ministers have said they want to maintain the momentum towards fresh negotiations or avert serious trade conflicts
becor also said discussions continue with one other possible bidder which it still has not been identified
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
first boston corrects that it not mellon is selling the notes to the public
other items mainly including unilateral transfers showed a 18 billion deficit
specifically i am pleased that the bond market is strong and that foreign exchange markets are stable reagan said
because there are no interest coupons attached to the bond certificates they are easier to forge than coupon issues market sources said
harper had no response to harcourts announcement
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 bank bought 11 mln stg of band one bills at 10 3 8 pct and 95 mln stg of band two paper at 10 5 16 pct
us 87 winter wheat plantings 48195000 acres durum 3137000 other spring 13515000
sudan its treasury depleted by nearly four years of civil war in the south and the aftermath of the devastating 1984 85 drought has a budget deficit of 286 billion pounds this fiscal year
there comes a point where you cannot resist any longer he said adding such barriers cant be put in place overnight clark said the issue of reciprocity regarding visible trade strikes at the basis of whether british industry is to have a fair access to an extremely large market japan which is itself in a very dominant position in certain aspects of our own domestic market it is really a question of fairness the situation is only likely to worsen following news that japans trade surplus with the rest of the world rose by more than 70 pct in february year on year to 814 billion dlrs from 57 billion in january political sources said
new york times co nyt 3rd qtr net
ropak said it waived minimum acceptance requirements to buy the shares and intends to evaluate a number of possible ways of completing an acquisition of buckhorn
qtly div 12 1 2 cts vs 12 1 2 cts prior qtr pay 20 may record 20 april
it said the purchase reduces the number of shares of clark common stock to be purchased under its stock repurchase plan announced march 10
yao said the rising taiwan dollar means taiwans steel exports are more expensive than south koreas and chinas
on the budget deficit which tripled to a provisional 47 billion forints last year after quadrupling in 1985 fekete said the finance ministry was working out measures to reduce an approved target deficit for this year of 438 billion forints to between 30 and 35 billion forints
the head of another foreign bank said that only a month ago the bank of spain had dismissed his suggestion of a rise in reserve requirements preferring to pursue its strategy of raising interest rates
he did not say whether the talks with taft officials led to any agreements or understandings
japan unemploymnent rises to record in january
he said the offer would be based on the value of bolivian paper on the international secondary debt market where it now trades at between 10 and 15 pct of its face value
citizens growth properties said it ommitted its regular quartelry dividend as a result of decreased earnings principally attributable to the default by a borrower of the trusts laargest mortgage loan
us officials say its rules now meet health standards and the ec should require equivalent but not identical standards
the issue which is guaranteed by bremer landesbank kreditanstalt is available in denominations of 1000 dlrs and will be listed in luxembourg
a ypf statement blamed the drop on momentary problems owing to the summer season but gave no further details
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
a gaf spokesman said the company asked for the information in order to enable gaf to fully evaluate its alternatives
in exchange for shells participation solv ex said shell is obligated to pay it an up front royalty and a running royalty based on the operating profits of the oil sands facility
industrial equity has 54 pct of triton oil 
wall street stocks tenneco inc tgt 
unions commercial paper and short term deposits were unchanged
echlin inc ech dividend increased 12 pct
billiton also urged heidweiler to improve the safety of its employees in the campaign against a jungle guerilla group the spokesman said adding rebel fighting since july 1986 had depressed production at billiton and suralco plants
den danske launches 200 mln dlr euro cd programme
balances in tax and loan note accounts fell to 4950 billion dlrs from 5004 billion dlrs on the same respective days
fourth quarter loss 895000 dlrs
the outlook for future production in california is clouded by a lack of exploratory drilling now analysts said
dunham and other officials opposed the idea of a fee on oil imports but said if one is enacted it must tax crude and product imports
he told reporters the government decided to stop paying the world bank because scheduled repayments outweighed the loans it was due to receive
fiscal 1986 net includes extraordinary charge of 35 mln dlrs or six cts a share
gold reserves were revalued by 895 mln dlrs while sdrs ecu and convertible currency holdings were revalued by 1995 billion
exovir xovr sells stock for 28 mln dlrs
pearson shares were down 4p to 567 after the announcement
henley group said it ended talks on buying southern pacific from santa fe southern
swire pacific ltd swpchkg is likely to show a more than 20 pct rise in 1986 operating profits when it reports results tomorrow reflecting gains in its aviation and property businesses share analysts said
ico executive board to meet early november
it said that sonatrach the algerian national oil company canceled future deliveries of crude oil and natural gas occidental petroleum co oxy demanded cash for crude and atlantic richfield co arc asked for special safeguards
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
in addition 75 pct owned sienna resources ltd has canadian reserves of 173000 barrels of oil and 16 bcf of natural gas with a current value of 22 mln dlrs orbit said
sapporo breweries issues five year sfr notes
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
s and p said it would review managements plans to sell assets and use proceeds to reduce debt
usair also had said its counsel would investigate the matter
it said it is launching a prestige fragrance developed in conjunction with catherine deneuve this spring
earnings per share reflects two for one common stock split on march 15
but the sec brief was never filed since the case was dropped following an agreement between campeau and debartolo
he said to the best of his knowledge a change in the rhode island law would not be a hardship for any other banking institution in the state
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
raymond said earlier that it could decide to close a french refinery
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
purolator courier corp stock jumped 5 3 8 on a 40 dlr per share takeover offer from emery air freight corp eaf traders said
dealers said that federal funds were trading at 6 3 8 pct when the fed began its temporary and direct supply of reserves to the banking system
it said buyers of 1986 and 1987 jeep cherokee wagoneer and comanche vehicles have a choice of the financing program or a rebate
unocal corp said it raised the contract price it will pay for most grades of crude oil 50 cts a barrel effective today
although there had been speculation that the standstill would be extended for three years many did not believe that a long term pact would be acceptable to us banks
the funds were previously used to finance mining operations
metro airlines inc said it has agreed in principle to acquire privately held chaparral airlines inc for 5700000 dlrs in cash
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
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
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
he expressed surprise at concern in some financial quarters over the level of private and public wage settlements last month worth a minimum three to four pct a year
he also called on bonn to push ahead with the privatisation of german national industries
coffee conference ends with call to continue talks
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
there are about 199 mln shares outstanding on a presplit basis it said
the governments planning bureau predicted growth of 09 pct this year in a study published last month
hernandez grisanti together with the oil ministers of nigeria and indonesia met the heads of state of six mideast gulf countries earlier this month to urge opec members to comply with assigned production quotas
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
vista management inc to make acquisition
baker who spoke earlier to the national newspaper association declined to elaborate on his statement about us policy
the eurobonds are convertible into the companys common stock at 6675 dlrs per share representing a premium of 275 pct over todays closing stock price american can said
an additional 13000 tonnes of semolina are still available to egypt under the export enhancement program initiative announced on august 6 1986 it said
the issue is available in denominations of 5000 dlrs and will be listed in luxembourg
canadian imperial bank of commerce 1st qtr share basic 61 cts vs 64 cts
the tender quota in april september is 10 pct of the agencys beef import share
japanese corporate earnings recovery predicted
consumer spending also tailed off in december because of bad weather and smaller than normal end year bonuses they said
in the speech the usx chairman also called for changes in securities laws to curb what he called abuses by corporate raiders and speculators
but seng said the cut will not benefit consumers or us meat exporters because of japans rigid and complicated distribution system and strict supply control by the lipc
us february reports reflecting slim gains in industrial output and moderating inflation pressures reinforced expectations that the federal reserve will continue to follow a stable course of monetary policy economists said
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
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
in east anglia april deliveries of feed wheat traded at 123 and may at 124 but were subsequently bid one stg a tonne the market for denaturable wheat in liverpool held comparatively steady with sellers holding back due to uncertain conditions
net investment gains for the qtr were 22 mln dlrs versus a gain of 155 mln in last years first quarter
gary associates made no mention of a possible takeover attempt in its report to the sec
call money declined to 365 75 pct from 375 85 pct but the drop was tied to extra liquidity in the market dealers said
current regulations allowed the city to acquire only half of its short term borrowing requirement with cps he added
in fiscal 1986 conagra had net income of 1053 mln dlrs on sales of 59 billion dlrs
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
the bond for westlb finance nv is guaranteed by the parent
pre tax profit 1324 mln stg vs 1327 mln
now they can resolve their problems for once and for all the most conservative ones who want a little more will wait a year but i dont know if the window of opportunity will be open all the time he added
i have mixed feelings said analyst dennis telzrow of eppler geurin and turner a dallas brokerage
poland met the paris club of western creditor nations for renewed talks on rescheduling its debt repayments but no conclusive result was expected diplomatic sources said
applied chemicals group henkel kgaa hnkgf said it is selling its hamburg vegetable oil and fats subsidiary noblee und thoerl gmbh to oelmuehle hamburg ag
but i would like to see further progress made on this whole situation brazil announced last month it was temporarily suspending interest payments on 68 billion dlrs of debt owed to private banks opening a new round in the five year old debt crisis
live cattle rally as lockout at meat plant ends
demarkus sales were 470000 dlrs in 1986
louvre reaffirmation not enough uk analysts
franco nevada stock is up two at seven dlrs per share on the toronto stock exchange
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
qtly div four cts vs four cts prior pay march 27 record march 13
laidlaw transportation ltd
azpurua said a credit agreement for 100 mln marks will be signed this week with the german state bank kreditanstalt fur wiederaufbau kfw to finance an expansion of the state aluminum company venalum
he said the current discussions were a reaffirmation of that agreement saying the solidarity that occurred in paris was still in place
papers say venezuelan central bank chief to resign
the grant will finance the basic engineering for the smelter complex to be undertaken by britains davy mckee of stockton
the japanese are looking for ways to reduce trade pressures from washington but at the same time theyre demonstating their muscle analyst peck said
the worst may be just about over for japans battered economy but economists said they do not expect a vigorous recovery anytime soon
psis report was qualified in 1984 and 1985 when its auditors arthur andersen and co questioned the utilitys ability to recover costs of its marble hill nuclear power plant and to extend the maturity of its credit agreement
they added that they themselves do not feel any need for a cut at all
this brings the banks total help so far today to 344 mln stg and compares with the estimated shortage of around 13 billion stg
earlier this week midland said it would cut its standard rate of mortgage payment to 115 pct from april 1 following a half a percentage point reduction in leading banks base lending rates from 11 pct
dbs securities singapore pte ltd a subsidiary of the development bank of singapore has applied to the hong kong stock exchange to set up a hong kong stockbroking firm
new bedford institution for savings nbbs year
swiss sight deposits rise 310 billion francs
shr 23 cts vs 22 cts net 1293000 vs 1256000 sales 397 mln vs 316 mln nine mths shr 72 cts vs 61 cts net 4099000 vs 3470000 sales 1159 mln vs 876 mln note share adjusted for three for two stock split in february 1987
banking sources said brazils debts to foreign governments as opposed to commercial banks now benefit from a sounder structure following last months rescheduling by the paris club of creditor nations of 412 billion dlrs of official debt
it also cited southdowns repurchase of 28 pct of its common stock and the financing of that transaction by debt
company is 815 pct owned by electro audio dynamics ead
the hwwa said its forecast assumed the dollar would remain around 180 marks and oil prices would range between 15 and 17 dlrs per barrel
mobex corp a private building product concern said as of late yesterday it had accepted about 23 mln shares or 98 pct of grant industries inc under a tender offer
brazils 14 bank advisory committee expressed grave concern to chief debt negotiator antonio padua de seixas over the countrys suspension of interest payments according to a telex from committee chairman citibank to creditor banks worldwide
stock brokers and bankers polled by said although equity shares or debenture issues floated by private firms provide a higher return and shorter maturity they are fast losing their popular appeal as they are liable to both wealth and income taxes
the increase brings the companys posted price for the benchmark grade west texas intermediate to 1750 dlrs bbl
net includes pretax gains on sale of securities of 11 mln dlrs vs 29 mln dlrs in quarter and 13 mln dlrs vs 130 mln dlrs in nine mths
richards is a privately owned new york based executive recruitment firm
baker also urged the international monetary funds executive board to review possible modifications to the funds compensatory financing facility before the annual meeting this fall
cpc said ajinomoto has purchased its equity in knorr foods co ltd a joint venture in japan between the two companies with cpc to get fees for trademark and technology use
caesars owns casino hotels in nevada and honeymoon resorts in pennsylvanias pocono mountains
this is a relatively new problem for us citroen lost close to two billion francs in 1984 but cut the deficit to 400 mln in 1985 helped by moves to modernise its range and improve productivity
helig meyers co hmy year feb 28
nakasones comments seemed distinctly more conciliatory than those of his trade and industry minister hajime tamura who earlier today said japan was ready to take appropriate measures if washington went ahead with the sanctions
the key to a stronger dollar lies in the united states itself leutwiler said
first in countries with large balance of payments surpluses such as japan and west germany it threatened to hamper economic growth and thus slow down the expansion of real income and domestic expenditure necessary to wipe out surpluses
speaking briefly with reporters before entering a meeting of the international monetary fund he said these minor movements dont really affect us the dollar declined in the initial reaction to a statement by the group of seven industrial countries reaffirming their paris agreement in february to maintain their currencies around current levels
diplomats said this was expected when ec environment ministers meet next on may 21
paul resch economic attache for the west german embassy told that germany had become the biggest european community lender to bolivia
the administration has not announced its support but yeutter said yesterday i am cautiously optimistic that the democratic led house will come up with an acceptable bill
multi tiered financings are a relatively new wrinkle on wall street
jones said that while the fomc probably voted no policy change today it may have decided to apply slight upward rate pressure later if the dollar weakens inflation pressures heat up or the economy shows sign of strong recovery
general partners controlled by privately held wagner and brown and by afg industries inc said plans to sell gencorp incs aerospace and soft drink bottling divisions if it succeeds in acquiring the company
the fall is a technical and emotional reaction to the failure to agree on reintroduction of ico export quotas but it will not be long before reality reasserts itself and prices rise again a spokesman for one of the major dutch roasters said
an earlier pact expires next week draining 85 billion marks from the system
shr 74 cts vs 92 cts net 1300450 vs 1600258 note share adjusted for 10 pct stock dividend in july 1986
a government spokesman said the greek position was made clear to turkeys ambassador nazmi akiman when he met greek foreign affairs undersecretary yannis kapsis last week
shr 59 cts vs 51 cts net 180 mln vs 156 mln revs 2786 mln vs 2722 mln
company is owned 4699 pct by elders ixl ltd elxas
datron corp datr 4th qtr net
citicorp cci 3rd qtr net
in the latest flashpoint in canadian us trade relations the us international trade commission ruled unanimously monday that canadian potash shipments valued at 270 million us dlrs last year were injuring the us industry
dynamic homes inc dyhm 4th qtr net
the effects of the measures we have taken and are taking are emerging in the market place he said
astrotech aix director buys company stock
imperial ica declares first div since 1981
gold was fixed this morning in london at 41130 dlrs
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
a drop in saudi arabian output to a tentatively forecast 33 mln bpd in march from 36 mln bpd in february was the largest factor behind the opec production decline the iea said
net 646000 vs 470000 assets 1730 mln vs 1529 mln notequarter ended march 31
transcanada pipelines was down 1 4 at 15 3 4 on the new york stock exchange
oper shr loss 12 cts vs profit four cts oper loss 1069000 vs profit 339000 revs 128 mln vs 109 mln note 1986 shr and net exclude extraordinary gain of 382000 dlrs or four cts share
minister of state for finance tom hockin said he has asked the canadian bankers association an industry lobby group for an explanation of the level of credit card interest rates
us agriculture secretary richard lyng said he is very disappointed by a canadian government finding that us corn has injured ontario corn growers
but industry sources said it is unclear how much demand will pick up if retail beef prices drop following any sharp reduction in intervention prices
manila said to offer debt bonds to banks
rank organisation has 100 mln stg cp program
nickel prices unlikely to rise much shearson
the forecast compares with the one pct gdp growth forecast made by the treasury last october
the cartagena group has called for the debt trade link to be recognized before but has not made detailed proposals
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
in addition she said that the federal home loan bank board in a letter dated january 26 1987 stated that through march 31 1988 it will continue to support the companys efforts to restructure its balance sheet maintain profitable operations and augment net worth
security pacific announced its intention to merge with diablo bank headquartered in danville calif in september 1986 as part of its plan to expand its retail network in northern california
meanwhile saskatchewan trade minister bob andrew expressed confidence canada would win its case claiming the problem stems from low international commodity prices and not government subsidies
the company had been required to redice by march two whether to proceed with the offer or terminate it based on its ability to obtain financing and on its review of benequity operations
three is now 525 cents a lb while alloy no
the target range set by the louvre accord is generally considered to be 14000 to 16000 yen dealers said
neyra did not specify the source of the trade credit lines
mr camdessus assured president moi that the imf would continue to give kenya maximum help it added
in a despatch yesterday from washington quoted the official as saying manilas plan to pay some interest with notes that could be converted into equity investments in the philippines was fully consistent with the reagan administration strategy for handling developing country debt
port officials said the national halt had already caused losses estimated at 15 mln dlrs
gv medical inc gvmi 4th qtr loss
private formulations is primarily engaged in the manufacture and distribution of vitamins and private label over the counter pharmaceutical products
the sale was announced earlier today in australia
farm program changes outlined by usda official
there has been oil industry speculation that opec might have to hold an extraordinrary meeting prior to its scheduled june session to discuss reports of overproduction by some states and strains on the differential matrix which prices each opec crude according to its quality and distance from main markets
the tremor ruptured the countrys main pipeline from jungle oilfields to the ecuadorean port of balao on the pacific ocean
yield estimates remained at 32 to 35 mln tonnes 167 to 22 pct down on 1985 86 production of 41 to 42 mln tonnes
i am sure that with 17720 marks the dollar is still within the louvre agreement
it said to date it has been unable to restructure its obligations to the bank and is now evaluating its options
final div 8p making 13p vs 12p
senior us economic officials disagree on the likelihood the government can meet its budget deficit reduction targets
they added that the choice for future years appears to lie between a system of regular tenders and the setting of a daily special levy applicable to spanish imports
minguzzi added that under ec regulations the community has until early may to pay for the sugar
nine month sales to september 1986 were about 12 billion dlrs
general partners which includes gc holdings inc and general acquisitions inc said yesterday it was dropping its 100 dlr a share hostile takeover bid for gencorp because of gencorps move to buy back its shares for up to 130 dlrs each
schlesinger told in tokyo where the bundesbank has opened a representative office that the west german economy was now picking up after contracting by a seasonally adjusted 1 2 to one pct in the first quarter
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
japans 1986 87 sugar cane output seen falling
a panamanian representative attended the meeting as an observer
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
paddy output in 1984 1985 was 6991 mln baskets it said
the company named shearson lehman brothers inc as manager of the offering
ncrs us dollar value of 1987 first quarter worldwide incoming orders posted a very substantial gain over the prior year first quarter ncr also said without giving specific figures
in 1985 gaf made an unsuccessful effort to acquire union carbide corp for five billion dlrs and has since expressed an interest in acquiring a chemical company that would complement its own chemical business
maxicare health plans inc said it ended negotiations to sell maxicare alabama lp to complete health inc the companies said last week they had reached agreement in principle for complete health to purchase the health maintenance organization the largest in alabama
inland vacuum ivac sets stock split
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
its total debt now stands at about 500 mln dlrs with annual interest payments of nearly three mln dlrs
china expects its 1987 grain harvest to be 397 mln tonnes eight mln tonnes short of its target the new china news agency quoted a state statistical bureau spokesman as saying
the conversion price has been set at 1004 yen a 393 pct premium over todays 966 yen close
within group turnover foreign sales fell to 2718 billion marks in 1986 from 3192 billion in 1985 a drop of 149 pct
measures would be necessary to avoid abuse of the banks special position by such holding companies or subsidiaries
ellmann said the stock may have also gotten a boost today from some optimism concerning new products the company is currently working on
west germany and japan meanwhile agreed to stimulate domestic demand and lead a global upturn
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
swiss consumer prices rose one pct in the year to march the same rise as in the year to february and against 09 pct in the year to march 1986 the federal statistics office said
these would lead to higher productivity schlueter 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
oppenheimer has six pct of cyclops cyl 
new currency problem seen among us europe japan
they dont need us they can do their own financing one official said
in band one the central bank bought 37 mln stg treasury bills and 72 mln stg bank bills at 9 7 8 pct together with 117 mln stg band two bank bills at 9 13 16 pct
borrowings will be available in currencies other than dollars and banks have been invited to join as lead managers at 15 mln dlrs for 75 basis points and as managers at 75 mln dlrs for five basis points
wallenberg group raises stake in ericsson
buying reserves is a good strategy for most of these companies smith said
union carbide corp is raising 350 mln dlrs through an offering of senior subordinated notes due 1994 yielding 990 pct said sole manager first boston corp
us lines said negotiations on the contract are expected to be completed within the next week
blackburn said the new company would be a pure exploration and production operation and that he was looking to divest non oil and gas operations particularly diamond shamrocks coal operations
the takeover announcement came soon after csrs earlier reported statement that it will sell its delhi petroleum pty ltd unit to an exxon corp xon unit for 985 mln dlrs and not proceed with the previously announced float of part of delhi
bilzerian says if pay npak signs merger accord he will tender for 75 mln shares
total health tlhto to make acquisition
economist in the west german ministry of agriculture and delegate to cocoa wheat and sugar agreements peter baron told in london agreements with economic clauses to stabilise prices could function if fixed price ranges were close to market reality if there was full participation by producers and consumers and if participants were prepared to take their obligations in the framework of the agreement seriously but baron added no real sanctions are available for a country that doesnt stick to its obligations the german approach is sceptical
it had been trading slightly higher than the 35 dlr offer on friday
saudi arabia has dropped its condition that brazil secure international bank guarantees before saudia arabia would ship it oil state oil company petrobras said in a statement
analysts said such a move would sharply reduce citicorps profits and might result in similar measures by brazils other bank creditors
shares were last quoted at 856 francs on january 9
a broad cross section of members of parliament voiced their opposition to the tax during a debate in the lower house yesterday on the basis of possible retaliation from the us and on the potentially damaging effect on third world countries
it has given total assistance of 213 mln stg today
citgo said its new posting for west texas intermediate and west texas sour is 19 dlrs a barrel
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
unit two is about 60 pct complete it added
the uruguay meeting is considered by most countries to have been particularly successful with northern hemisphere countries managing to have service industries such as banking and insurance included in the next full round
note the company said the consolidated net loss was after costs and provisions for restructuring of 390 billion francs which includes exceptional items arising from the planned sale of its stake in american motors corp amo to chrysler corp c full company name is regie nationale des usines renault
salomon inc sb said to cut us banks ratings
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
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
oper shr nine cts vs three cts oper shr diluted eight cts vs three cts oper net 15 mln vs five mln revs 518 mln vs 622 mln note oper net excludes extraordinary income of seven mln dlrs vs four mln on tax loss carryforward offset by writedowns of three mln dlrs vs eight mln on us oil and gas properties and other assets
it said both metals are for delivery in the week of may 11 to olin corp east alton ill
fleet has a plus senior debt a subordinated debt and a 1 commercial paper
people throughout china can now open foreign exchange accounts at the bank of china the official shenzhen economic zone daily 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
he called for clearly defined laws governing incorporation of joint stock companies and the flotation of debt instruments
the government originally intended to float the munitions and explosives concern on the stock market but last july said a private sale was a more appropriate way to dispose of the firm
net excludes discontinued operations gain 330000 dlrs vs loss 385000 dlrs in quarter and gain 485000 dlrs vs loss 2692000 dlrs in year
qtly div class a two cts vs two cts prior qtly div class b one ct vs one ct prior pay april 17 record april 10
stop and shop cos inc shp 4th qtr jan 31 net
as a consequence growth in machinery and equipment investment is likely to decelerate only slightly this year after vigorous growth in 1986
mexicos reserves reach eight billion dlrs
there was no immediate sign of italian or canadian officials
the reorganization is considered a major initiative by conable and is being closely watched by the agencys 151 member countries as an indication of his management style and priorities
terminal prices today rose by up to 10 stg a tonne from fridays close basis july at its high of 1271
dcny corp dcy hikes qtly dividend
total fees of 1 7 8 pct comprise 1 1 4 pct for selling and 5 8 pct for management and underwriting combined
the committee set a six to seven pct january through march annualized growth target for m 2 and m 3 and no m 1 goal
soybean cake and meal sales of 289400 tonnes were two thirds above the previous week and the largest of the marketing year with venezuela the dominant purchaser
they said the venture will be renamed shin caterpillar mitsubishi ltd and capitalised at 23 billion yen
fidelcor said it would acquire most of lazeres loan portfolio and other assets including its miami office
tokyo dealers said the bank of japan bought one to 15 billion dlrs in tokyo today and may also have purchased dollars yesterday in the us via the federal reserve
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
the selling concession is 1 3 8 pct while management and underwriting combined pays 5 8 pct
sweden has current payments surplus in 1986
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
the post office enjoys a monopoly in west germany especially as far as deciding who is able to provide telecommunications equipment
i dont like that fact that we had a close below 101 said prudential bache analyst fred leiner
the company said dividends on the preferred being offered in the second proposal would be paid in additional preferred in the first three years and the preferred would be redeemed in years 12 and 13
federated department stores fds march sales up
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
japan still asking institutions to limit speculative dlr deals miyazawa
cummins recorded net income of 3743000 dlrs or 38 cts per share on sales of 5169 mln dlrs
but world group incoming orders fell 22 pct to 5873 mln marks meinhardt told the annual news conference
i am very concerned about the brazilian economy he told reporters after a news conference in tokyo
united states video vending corp said hill international inc called a 260000 dlr promissory note that is collateralized by the assets of united states video
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
pope and talbot pop sees higher 1st qtr net
the figure was 26 pct higher than in december 1985
everyone is stunned by the decision to file for bankruptcy and cant really believe it one dealer noted that texaco subsidiaries have outstanding eurobonds totalling over three billion dlrs out of total borrowings of some 68 billion dlrs
the facility will incorporate an underwriting fee of 010 pct in addition to a fee of 005 to 010 pct depending on the participation amount
the move will will enable it to boost service in the pacific by 15 pct in 1987 american president said
argentine 1986 87 grain oilseed registrations
a 57 mln dlr loan is for urban development 80 mln dlrs for industrial programs 96 mln dlrs for highway rehabilitation and 46 mln for farm research
the lease will increase net income by about 24 cts a share on a post february 1987 three for two stock split basis
but it remained within a narrow 40 basis point span around 18050 marks after the first hour of european trading
the blocks were awarded in three licenses each covering two blocks
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
they said princeville airways is expected to operate as a subsidiary of aloha inc and will continue to use the princeville aiways name
bank of japan governor satoshi sumita said he would support the issuance of reagan bonds yen denominated us government securities if it was considered appropriate a japanese daily paper reported
icco buffer stock manager to buy 5000 tonnes cocoa monday june 22 official
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
the investment banking firm said another series of variable money market cds is planned for april
moodys investors service inc said it may downgrade british petroleum co plcs 35 billion dlrs of debt and standard oil cos 38 billion dlrs of debt
it was not only important to achieve the domestic goals of price stability economic growth and full employment but also to tackle international problems like the exchange rate problem the debt problem and the current account problem
although pricing on many credit facilities has become extremely fine in recent years because of the keen competition to win mandates morgan guaranty said banks would be compensated fairly since this is a special purpose facility which must be completed quickly with signing expected in about 10 days
approval would pave the way for us commercial banks to underwrite and trade equities in japan under their own names
hallmark stores sells secured bonds
philippine coconut agency gets new administrator
soybean meal supply demand by country usda
london traders said the ec commission will probably endeavour to release a large tonnage and as much as 100000 tonnes may be authorised for export under licences up to end september
huckaby said congress is unlikely to approve any changes in the sugar program this year despite a reagan administration proposal to drastically slash the program
germany and italy were cited as the extremes of polarized government attitudes with most other countries on the fence
venezuelas biggest private debtor faces default
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
shr 27 cts vs 34 cts net 174390 vs 222720 revs 4948622 vs 4516042 note current net includes non recurring loss on investments of 82034
mulford said the administration wanted to achieve a pattern of higher growth overseas as a way of improving the us trade deficit
late last year shearsons takeover offer to the ef hutton group inc was rejected by hutton and analysts said there had been speculation that shearson also was rebuffed when it approached another major wall street brokerage
officials said the ec had asked gatt to arbitrate on the fish dispute with canada
orders in hand and incoming orders were steady at a high level
the menu must become richer the banker said
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
prudential insurance year earnings
sara lee sle to buy 34 pct of dim
the closing date is expected to be may 1 1987
1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 domestic use 430 430 488 488 exports 650 600 420 420 total use 1080 1030 908 908 end stocks x 406 456 493 493 avgpric 345 425 345 424 686 686 note average price in dlrs per cwt
robusta coffee beans for may delivery ended the day in london down about 50 sterling at 1265 sterling a tonne the lowest since 1982
coffee fall not seen affecting colombias debt
some economists expect the fed to execute a bill pass this week because its adding requirement increases sharply in the new statement period beginning on thursday
avon products avp sees higher 1987 earnings
swift independent packing co sftpr 1st qtr net
the transport ministry estimates new orders at 33 mln cgrt in the year to march 1988 and 31 mln the following year
the prospect of so many cattle remaining on feed for a longer time blunted the market impact of the high placements reported in the usdas latest cattle on feed report livestock analysts said
proceeds will be used to repay outstanding debt incurred to finance recent acquisitions the soft drink bottler said
it bid them at an 8 3 8 pct coupon
treasury secretary james baker said that the agreement in paris to cooperate in exchange rate changes showed that the process of coordination agreed to at the tokyo summit was working
chicago milwaukee corp said it welcomed an investment by shearson lehman brothers inc in its company
slater electric inc slat 1st qtr feb 28 net
three sets of measures have been announced since last may which broadened areas for foreign investment reduced trade restrictions and liberalised imports
commonwealth mortgage co said it purchased westfiar funding corp of armonk ny for an undisclosed amount of cash
the dispute centres on the fact that section 337 of the us tariff act gives the itc jurisdiction over imported products
government outlays include mainly deficiency payments and price support loans
the federal reserve entered the us government securities market to arrange 25 billion dlrs of customer repurchase agreements a fed spokesman said
since then the pound has risen to 718 pct on its closing trade weighted index up from 697 pct imediately after the paris meeting and up 04 on the day
cbt discusses major changes for renovation
when this is done we have said we are interested in taking over a 30 pct share in the field statoil spokesman willy olsen told 
the bank said the public sector contribution to the growth in sterling m3 was contractionary by about 23 billion stg
trade representative clayton yeutter yesterday opposed the amendment saying such commodity agreements do not work
qtly div 57 1 2 cts vs 54 1 2 cts prior qtr pay may 15 record may 1
webcor electronics wer in technical default
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
ranger oil ltd said it completed on march 2 the previously announced sale of its us oil and gas properties held by subsidiaries ranger oil co and ranger inc to ampol exploration ltd of australia for 185 mln us dlrs
the executives were in new york for meetings with institutional investors aimed at increasing interest in the companys stock
sun co sun announced that it would make a 50 cts a barrel increase late friday bringing wti to 1900 dlrs a barrel and traders said that other oil companies could be expected to increase prices
the purchase will be through 14 mln stg in cash and the issue to sears plc of 80 mln new lex ordinary shares
brazil to meet bank creditors on april 10
there the producers expressed their political will to negotiate basic quotas particularly in the face of the damaging drop in coffee prices after the council failed to agree quotas montes said
international seaway trading corp ins year
the dispute has prevented local crewmen signing on and off but has not affected foreign ships with international crews docking at calcutta which exports tea and jute and imports machinery crude oil and petroleum products the spokesman said
qtly div 13 cts vs 13 cts prior pay april 20 record april 10
arango told that the most intelligent thing now would be to seek a unifying stand from producers including brazil in order to map out a strategy to defend prices
lotus development corp lotso 3rd qtr net
the initial processing center will be located near murfreesboro tenn and is expected to begin operations in the fall of 1987 steel technologies said
shr profit five cts vs profit seven cts net profit 59000 vs profit 39000 nine mths shr profit 12 cts vs loss four cts net profit 92000 vs loss 20000 avg shrs 775000 vs 548000
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
nippons move was the result of current exchange rates and the revaluation of the yen which have made the us electronics industry an attractive investment opportunity for japanese corporations according to a gtx statement
gaf had said it would offer 46 dlrs per share
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 economic report said meeting targets for commodity output would require unrealistic gains in productivity and industrial output targets appear too high to allow time to install more advanced equipment
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
the non callable bond is available in denominations of 1000 australian dlrs and will be listed in luxembourg
woodstock is the holding company for the 110 mln dlr state bank of woodstock
originally the margin was set at 625 basis points for up to 50 mln dlrs and at 25 basis points for the remainder
it is guaranteed by the indian government with an interest subsidy provided by italys export credit agency mediocredito centrale
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
us commerce secretary malcolm baldrige predicted congress will pass a reasonable trade bill this year and said tough protectionist legislation could prompt a trade war
feds heller sees return to slower money supply growth
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
esselte said the antonson unit based in laporte indiana manufactures scales and label printers
washington federal savings wfsl 2nd qtr net
minntech corp said it expects to report loss for its fiscal 1988 first quarter to end june 30 due to start up costs related to a new membrane oxygenator and water filtration products
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
qtly div five cts vs five cts prior pay july 13 record june 30
he told japanese business leaders the bank of japan will continue to take adequate measures including market intervention to stabilize exchange rates if necessary in close cooperation with other major industrialized nations
david resler of nomura securities co international inc raised his end june bond yield forecast to 750 pct from 720 pct and a fed funds rate estimate to six pct from 580 pct
waste management wmx votes split ups payout
the oecd said italys gdp may grow by three pct in 1987 but will then fall back to 25 pct in 1988
output fell 05 pct in january from a month earlier
phh group phh regular qtly dividend
we appreciate his management but certainly some practices have to be corrected
profit at williams gas marketing rose to 26 mln dlrs from about 22 mln and the william pipe line co had operating profit of 494 mln dlrs versus 636 mln dlrs a year ago
wen wei po a hong kong daily said the drought the worst for more than 20 years is affecting nearly two mln hectares in 100 counties in sichuan the countrys biggest agricultural producer
under review are the parents baa 1 senior long term debt the finance units baa 1 senior debt baa 2 senior subordinated debt and baa 3 junior subordinated debt and chrysler canadas baa 1 eurobonds
bankers say continuation of present economic reforms is crucial for the government to get the international lending its needs
dome dmp benefits from takeover speculation
west german finance minister gerhard stoltenberg said the currency agreement reached in paris in february had been successful and would be continued
coupon and conversion price for the par priced bond maturing on september 30 1996 will be set before payment on may 2
it also won over the french midi pyrenees development authority which agreed to sell aga its 20 pct stake in duffour et igon
australian wheat shipments rose to 133 mln tonnes in february from 101 mln in january an australian wheat board official said
in a letter to shareholders chairman a
shultz statement two weeks ago that he would not stand in the way of a wheat subsidy offer under the export enhancement program eep coupled with the announcement of his visit to moscow was interpreted by many grain trade representatives here as a clear signal that the reagan administration was preparing an offer
sroka said world coffee prices are expected to remain weak if any international coffee talks fail to produce agreement
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
the banks are in need of investments that provide earnings
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
the bundesbank has also ruled out a quick cut in official interest rates although it sees market rates continuing low
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
the report sees ec imports falling to 917 mln tonnes in 2000 from 1236 mln in 1985 with japanese imports falling to 89 mln from 1246 mln tonnes
the proposal was the most controversial part of a reform package due to be discussed by ec farm ministers later this month of the ecs common agricultural policy widely seen as the root cause of the ecs persistent financial problems and of tensions with major trading partners
the bank said the loan is being made through its affiliate the international development association and will be used to restore economic confidence approve the allocation of resources and stimulate economic growth
the group the board cannot fully carry out its fiduciary duties to gencorp shareholders and make a fully informed decision about its offer until it has thoroughly explored with us the ways in which our offer can be revised to provide greater value to your shareholders general acquisition said it is aware the board may be reviewing alternative transactions which might provide gencorp shareholders with a payment other than cash
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
warm daytime temperatures and good soil moisture have produced an abundance of new growth and bloom
the dutch central bank said it has accepted bids totalling 400 billion guilders at tender this morning for new five day special advances at 53 pct for the period march 20 to 25
a megalitre is 6290 barrels
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
american express officials declined comment but cited a statement it released more than two weeks ago in which it said it was studying matters of strategic importance
the colombian pipeline to tumaco has ample room for ecuadorean crude they said
it did not say whether only opec or opec and other producers were behind the reported rise in mideast output
wilcox said a good aluminum market and several months of successful operation led to the decision to expand production
berisford aims to produced balanced earnings growth from a combination of commodities property financial services and food
the division had a turnover of 32 billion markka last year 42 pct of outokumpus group turnover of 758 billion
most of the workforce reduction is expected to be completed by april 30
the loan which the imf provides countries under special circumstances is equal to 25 pct of ecuadors quota or economic standing in the fund
it estimated between 500 mln and two billion dlrs of the eight billion in new farm real estate loans issued each year would qualify for the secondary market in the first few years expanding significantly later as investors accept the idea
manila said to offer debt bonds to banks
sundor group inc said it purchased dwg corps texun incs line of regional juice products
the company said the transaciton shoould be finalized in early april
krung thai is thailands third largest bank
shr 17 cts vs 13 cts net 598000 vs 392000 sales 102 mln vs 7474000 avg shrs 3432000 vs 3045000 year oper shr profit 105 dlrs vs loss 47 cts oper net profit 3498000 vs loss 1427000 sales 522 mln vs 408 mln avg shrs 3320000 vs 3060000 note latest year net excludes 782000 dlr tax credit
nat west cuts mortgage rate for new borrowers
net consolidated profit after deduction for minorities 652 billion francs vs 540 billion
the company paid a dividend of 14 cts per share on a pre split basis
sallie mae announces australian dlr note offer
it was the highest savings bond sales total for any march since 1978
30
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
shr 20 cts vs 16 cts net 1507000 vs 1147000 sales 138 mln vs 9608000 backlog 521 mln vs 378 mln
in a newspaper advertisement the company said the offer and withdrawal rights expire april 20 unless extended
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
mason benson former president and chief operating officer of empire of carolina inc a toy maker today was sentenced in manhattan federal court to a year and one day in jail for his involvement in a kickback scheme
the purchase will be partly funded by the issue of eight mln shares at 450 dlrs each and four mln free options to the pratt group controlled by entrepreneur dick pratt plus four mln shares to professional investors at 450 each it said
brazil currently consumes 11 mln barrels of oil per day
the payment date is april 2
purolator a new jersey based overnight courier has declined comment
haggard said at a soybean loan rate of six dlrs per bu combined with a marketing loan the us soybean price might fall to four dlrs per bu initially
taiwans exports to china through hong kong fell to 633 billion dlrs last year from 769 billion in 1985 while chinas exports rose to 112 billion dlrs from 904 mln dlrs
the aggressive use of the treasury bill program has meant that the government is now able to maintain lower cash balances and lower financing costs the bank of canada said in its 1986 annual report released this week
zuckerman said chrysler will sell slightly less than one billion dlrs of corporates
pharmacia ab launches eurocommercial paper programme
it said the offer for the petroleum products would be open until 0600 gmt on november 19
national medical enterprises inc nme 3rd qtr
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
over 300000 tonnes of french soft wheat have been sold to tunisia since the beginning of the 1986 87 campaign of which 225000 to 250000 tonnes have already been shipped they said
norways oil minister arne oeien currently in iceland for a meeting of nordic ministers has made no official statement on the latest oil production cutbacks
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
gaf has offered 46 dlrs per share
american motors amo march output falls
yugoslavias top oil and natural gas producer ina naftaplin has started to implement a cooperation contract signed last year with the french petrochemical concern petro chemie the official tanjug news agency said
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
rio tinto zinc corp plc 1986 pretax profit 6017 mln stg vs 6144 mln
the bank of england said it provided the market with unspecified late assistance worth 15 mln stg
chrysler made 98648 us cars in march down from 115540 last year
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
consolidated owns 42 mining concessions in three regions of eastern and northern brazil gammara santo antonio and diamazon the company said
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
new currency problem seen among us europe japan
belgian unemployment falls in march
the commission has set a hearing on the rate issue for july 28
rochester telephone corp said it agreed to buy canton telephone co for undisclosed terms
the report said the french economy was increasingly ill adapted to demand selling goods at uncompetitive relative prices on both domestic and export markets frances poor export performance reflects a geographical bias in favour of markets less dynamic than the average and a substantial loss of market share in the past 18 months it said
bankers said the 1986 recovery in earnings stemmed partly from foreign exchange operations and trade finance
it also said it would seek 125 billion dlrs from the sale to shearson lehman brothers holdings inc or its affiliates of senior subordinated promissory notes
ramnath said the ministry is now holding talks with union carbide on the price of natural gas to be used in the plant which will be constructed near the trinidad and tobago oil company trintoc refinery at point fortin on the west coast
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
southwest air luv unit adds houston nonstops
the issue will have an initial three year life and the issuer has the right to make two three year extensions and a further one year extension to 1997
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
mount isa mines holding ltd plans to acquire a 30 pct stake in europes largest primary copper producer norddeutsche affinerie ag a spokesman for metallgesellschaft ag said
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
the company today reported a 1986 loss of 236469 dlrs after realized investment gains of 734609 dlrs compared with a 1985 loss of 2522293 dlrs after investment gains of 645438 dlrs
burlington northern inc 1st qtr shr profit 93 cts vs loss 355 dlrs
a national seamens strike however continued and marines remained in the countrys main ports
crude steel production is likely to be below 1986 87 output but forecasts for profits and sales in the year starting april 1 are unavailable yet he said
aetna aet reaches agreement to buy company
light medium and heavy fuel oil postings are up 150 dlrs a barrel the company said
they have been negotiated under the rules of gatt general agreement on tariffs and trade but officials said ministers had been unable to resolve canadian claims that its sales of certain fish to spain had been affected by the countrys ec membership
both bass and horizon said that basss resources will enable horizons businesses to expand strongly this year
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 contract covers the gebang block contract area
the facility was proposed by rep
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
he told the sale price was around 2895 pesetas per kilo but that the final quantity and delivery date has not yet been set
but other businessmen said such a short term commercial advantage would be outweighed by further us pressure to block imports
we are sitting on a barrel of powder but fortunately it may still be wet he added
camco inc cam sets quarterly
paulson declined to give a figure for the deal but said it was strategically important since it increased bolidens presence in saudi arabia
it said it expects very good earnings and revenue growth this year
terms were not disclosed
the spot dinar was 027930 40
single family starts rose last month from january levels by 56 pct to 1317 mln units on a seasonally adjusted basis while multi family unit starts fell 41 pct to 534000 units the department said
the other dealer is swiss bank corp international ltd and issuing and paying agent is morgan guaranty trust co of new yorks london office
pakistan and sweden have signed a commodity exchange agreement for 88 mln dlrs each way the pakistan government announced
moodys investors service inc said it downgraded 110 mln dlrs of debt of michigan general corp
as ofs peaked at just over 500 mln dlrs on tuesday
a cut in bank liquidity will not directly influence central bank money stock the bundesbanks main money supply indicator
however he said opec in december had anticipated that demand would be slack at this time of year for seasonal reasons and expected the market to firm in two to three weeks
bayou said it will also receive two seats on solmecs board
fretter inc fttr 4th qtr jan 31 net
even if japan and west germany do expand this year it wont be enough to help the trade situation much said bourdain of bankamerica who also expects the dollar to drop to 148 yen in the next couple of days
we expect to have the biggest operating backlog in the companys history by june 30 1987 the end of our fiscal year wilkinson said
bundesbank sees no reason to change monetary course vice president schlesinger
the issues are intended to help curb the growth of the m 1b money supply which has grown as a result of increasing foreign exchange reserves
in the first quarter of 1986 mellon earned 604 mln dlrs or 213 dlrs a share
zuercher ziegeleien ag plans a 60 mln swiss franc 2 1 4 pct domestic bond with warrants for participation certificates lead manager swiss bank corp said
in nadi two bomb threats forced evacuation of the australian westpac bank but police said they turned out to be a hoax
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
it requires additional money on the part of the banks but rather modest additional amounts feldstein is attending the annual meeting of the trilateral commission a foreign policy group of more than 300 business and government leaders from north america europe and japan
president reagan called for continued nondiscriminatory treatment for romanian exports to the united states in the face of congressional opposition because of the bucharest governments record on human rights
hazelhoff said abn was unlikely to continue reducing risk provisions in the future but he noted the bank was not overly concerned about default by latin american debtors a factor which brokers say has distanced dutch insititutions from bank stocks recently
if the flow of funds dries up a country like brazil cant meet all its obligations he said
the governor of west flanders province said 240 people were still unaccounted for
hj heinz raises quarterly to 28 cts from 25 cts
hoechst celanese corp said it sent propsective customers a confidential report describing its polyester textile fiber facilities in north carolina and south carolina
market makers are now awaiting a further fairly definitive paper from the bank which would contain details of auction procedures
in 1986 crds sales fell 57 pct to 197 mln tonnes from 209 mln due to the growth in imports by independent distributors following a relaxation of regulations guilbaud said
the winds strengthened by el ninos pump effect raise the sea level off australia and indonesia they said
what the creditor banks are demanding is not the same as what argentina is prepared to concede machinea said
one vertical drill hole intersected gold continuously from 1100 feet to 1730 feet averaging 030 ounces per short ton the announcement said
the vessel has retained some power and yesterday evening was in position lat
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
franklin resources inc ben sets quarterly
st
franco nevada mining corp ltd said the gain in its stock price today is related to deep drilling being conducted by american barrick resources corp abxff at the goldstrike claims in the carlin camp in northern nevada
the company said it could break even this year
bangladesh will import 60000 tons of high speed diesel oil from the soviet union under a barter agreement signed here last week bangladesh petroleum corporation officials said
us says no pact on relief for poorest states
partly offsetting these outflows exchequer transactions will add some 120 mln stg to the system today
paper will be issued in discounted note form only and will have maturities between seven and 365 days
sunstates corp sust 4th qtr
the rationalisation program includes a cut of 20000 to 30000 of the estimated 100000 workers in the industry between 1986 and 1989
in addition both the us and west german central banks were keen to avoid a dollar slide which would force them to again spend vast sums intervening to support the dollar
the sources said the depressed world market had been one of the main topics discussed in a closed door meeting of the 11 member cpa which began on monday
gte last tapped the debt market when it sold on november 20 1986 250 mln dlrs of same maturity same rated debt priced to yield 9388 pct or 174 basis points over comparable treasury paper underwriters noted
moreover fairchilds management is thought to be considering proposing a leveraged buyout of the cupertino calif company analysts said
he said that recently there appeared to have been some speculative buying of the bonds from the us but that european investors had been overall sellers
harris lifts builders transport truk stake
revising the definition of sample grade for wheat by adding a limit of 32 insect damaged kernels per 100 grams of wheat
in an article published in todays handelsblatt daily steckhan said despite decisions by peru costa rica ecuador and brazil to suspend some interest payments these nations were still willing to talk constructively about their debts
galactic resources ltd galcf year loss
kato told reporters after a cabinet meeting all topics ofconcern to the us will be discussed such as trade in beef and oranges and import controls on farm products
klm last week denied a dutch press report saying it was discussing a takeover of air atlanta
swedens boliden ab takes over us allis chalmers corp for 600 mln crowns official
because the closure takes place in summer months when gas demand is at seasonal low the impact on cash flow would be small curt launer natural gas analyst with donaldson lufkin jenrette said
gatt sets up dispute panel on canadian herring
yeutter said the harmonized system as the new schedule is called will change tariff categories and definitions to meet the present day needs of exporters and importers but they should pay about the same rates of duties
edelman and his plaza securities co partnership subsequently sued in an attempt to block the proposed reincorporation which was a condition of the repurchase and restructuring plan
it was fixed higher at 2924 marks after yesterdays 2910
separate management and underwriting fees common here may also be eroded which now make german underwriting business profitable compared with other centres
horn hardart hor unit disposes 33 restaurants
in early december nomura securities international inc became the third and so far last foreign securities firm to manage a us offering
bank of japan intervenes in tokyo after opening
first of america has 79 billion dlrs in assets
it said the strike was called to defend the nationalised mining industry
ao smith corp smc sets quarterlies
the kenyan shilling has lost 56 pct of its value against the sdr this year in a series of devaluations designed to keep the value of the dollar above 16 shillings
gould gld registers to offer preferred
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
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
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
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
in a letter to shareholders the company said that that part of its business continues to be unprofitable
dubin clark said its group includes roberts management and london investment company j
ammar said thailand had benefited from an ec tariff loophole that subjects thai tapioca to a preferential six pct import duty
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 sale of gelco express canadas second largest courier service is part of the parent companys strategy to repay 350 mln us dlrs of debt by the end of 1987 the report said quoting a gelco spokesman
the countries of latin america have too much debt relative to their ability to service it said john mason of interstate securities
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
skanska to take stake in canadian firm
the us treasurys regular weekly bill auction is expected to produce an average yield of about 574 72 pct for the three month maturities and 582 81 pct for the six month dealers said
dealers said they expected the bundesbank to allocate funds tomorrow in the latest repurchase pact at an unchanged 355 pct after setting an unchanged minimum bid rate of 350 pct and to fully replace the 55 billion marks in an outgoing pact
he said the may 28 sale of options to buy 258800 burlington shares was thus a non event
borg warner has said its management is not a participant in the transaction but managers will retain their positions
society for savings bancorp inc said it has completed its previously announced plan of acquisition making a new delaware chartered bank holding company the parent of conneticut chartered society for savings
they said the decision was taken after the sugar importers association asked that the sugar trade be further liberalised
the federation of bankers associations of japan released its proposal for early creation of a comprehensive financial futures market in tokyo
martin processing mpi accepts courtaulds bid
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
mannesmann sees difficult year for capital goods
in a letter to the west german community here ambassador joerg kastl said laboratory tests on food samples bought in moscow in february had shown elevated levels of caesium 134 and 137 in tea from azerbaijan and ukrainian hazelnuts
it would not look good for opec unity if nigeria which holds the presidency raised the issue he said
shr loss seven cts vs profit 12 cts net loss 662000 vs profit 1520000 revs 591 mln vs 631 mln six mths shr profit 23 cts vs profit 20 cts net profit 2802000 vs profit 2543000 revs 1385 mln vs 1267 mln
among issues upgraded were williams debentures raised to bb plus from bb minus and williams natural gas cos debentures and preferred stock to bbb minus from bb plus
rates turned down as an earlier rise in bunker prices which had supported the market at the start of the year faltered but then recovered on the reported soviet interest
japanese officials also refused to allow a new issue of venezuelan debt bonds because until the country regains its triple a credit classification
home savings bank hmsb sets initial dividend
tofutti brands tof sees profit for new year
i have not told any of our investors to stay away from the banks in general she added
first the national treasury should be in sound shape when dealing with the public and other countries so that its credibility is preserved he said in a television interview saturday
berisford wants to stay independent
government figures also show taiwans surplus with europe rose to 153 billion dlrs last year from 543 mln in 1985
the warrants are attached to a 150 mln swiss franc note issue
ptt according to statoil is currently negotiating with texas pacific to buy back the dallas based oil companys holdings in the field
he said at a meeting of ec states representatives here yesterday britain undertook to communicate its own decision to its partners today
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
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
matters not on the agenda however can be brought before the council the officials said
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
some cross channel ferry services from ostend were cancelled the local news agency belga said
carolina power said unit one which has been in operation since 1983 meets all air quality regulations without scrubbers through the use of low sulphur coal and the addition of scrubbers to mayo unit two would have produced only marginal air quality improvements the company said it will be able to purchase lower cost power from duke power co duk for intermediate and peaking purposes than the projected cost of power from mayo two with scrubbers
the 10 1 2 pct notes had been priced at par
the dollar lost more than two pfennigs in the us to about 17740 50 marks and about one yen to 14125 35 yen
gobert said he believes the transcanada offer is at the upper end of what i thought somebody would pay for dome the transcanada proposal would pay domes creditors 387 billion canadian dlrs 290 billion us dlrs with another one billion canadian dlrs 750 mln us dlrs available to secured creditors if the dome subsidiary earns profits above a certain level
newmont said magma has pre tax losses of 290 mln dlrs during the 1981 through 1985 period noting the five major us primary copper producers reported aggregate pre tax losses of 19 billion dlrs during five year period
it also reported fourth quarter net of 438 mln dlrs or 73 cts a share versus 365 mln dlrs or 60 cts a share in 1985s fourth quarter
a spokesman said alitalia was hoping for an increase in traffic with the us in 1987
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
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
thats the kind of deregulation we want until such changes occur sumitomo will focus on such domestic securities business as profitable government bond dealing and strengthening relations with meiko securities co ltd in which it holds a five pct share komatsu said
economists said that a rise in energy prices was expected but a sharp drop in auto prices was not
4g data systems gggg 3rd qtr net
moodys noted that the company intends to use a portion of the proceeds to repurchase existing debt
shr loss 13 cts vs loss six cts net loss 14 mln vs loss 635000 revs 403 mln vs 285 mln year shr profit 40 cts vs profit 26 cts net profit 42 mln vs 26 mln revs 1664 mln vs 946 mln note1986 4th qtr and year net reflects dividend requirements of 15 mln dlrs and 33 mln dlrs and charges of 257000 dlrs and 46 mln dlrs respectively which is not accruable or payable because of pre reorganization tax loss carryforwards
europe
the reforms tighten the rules for the use of foreign aid to subsidise export credits in so called mixed credits the oecd said
tranche a of 50 mln dlrs carries interest at 30 basis points below one month bank bill rate payable monthly and tranche b of 25 mln dlrs carries interest at 25 basis points below three month bank bill rate payable quarterly
the bank of japan intervened in the market to keep the dollar above 149 yen but the unit was under strong selling pressure by an investment trust dealers said
campeau said it and the debartolo association will each hold a 50 pct ownership interest in the shopping centers
he added environmental considerations would play a larger role in the evaluation of proposed projects
it imposed daily and weekly purchase limits prohibited the bsm from operating on futures markets and stipulated after consumer insistence that up to 15 pct of total buffer stock purchases could be of non member cocoa
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
usda us 1986 87 ending corn stocks 5240 mln bu wheat 1848 mln soybeans 610 mln
allegheny international inc said it sold three overseas subsidiaries to reil corp ltd a north sydney australia investment group
a purchase from a foreign seller is a transaction in which a us exporter contracts to buy us produced commodities from a foreign firm the department said
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
swire also had an extraordinary profit of 138 billion dlrs mainly from the sale of a 1525 pct interest in cathay pacific airways ltd caphhkg miles said the company will use the money to develop its business primarily in hong kong
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
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
mobil australia reports 386 mln dlr 1986 loss
until the close of business on april six the debentures are convertible into the companys common stock at 1750 dlrs per share or 5714 shares per each 1000 dlr debenture
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
the accord does not solve all our problems he added
we look for rapid progress in commercial bank discussions with argentina the philippines and ultimately brazil he said
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
trade subcommittee chairman rep
the source predicted national amusements controlled by investor sumner redstone would need half a year to complete a tender offer because of the regulatory approvals that must accompany any change in control of viacoms broadcast licenses and cable television franchises
compagnie francaise de raffinage cfr will close the visbreaker at its la mede refinery in early april but would not affect crude throughput at the refinery a company spokesman said
the automaker said it made 144959 trucks last month an increase from 131640 produced in the same month last year
oats volume tripled to 27662 contracts and corn volume increased 35 pct to 580204 contracts
but this follows a robust 113000 gain in january revised down from a previously reported 142000 gain
terms of trade are the difference between import and export price indexes
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
in view of the strong demand and seasonally reduced supplies apple prices are projected to stay firm
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
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
he said mitsubishi expects the danish companys annual sales to be 10 billion yen in its first year from april 1
unfavorable late winter weather conditions in the main wheat growing areas of yugoslavia indicate dimmed prospects for the emerging winter wheat crop the us embassys agricultural officer in belgrade said
chrysler c says march us car output fell
some 7000 black miners went on strike at south african gold and coal mines the national union of mineworkers num said
growers said large parts of the flooded areas were not planted because they are low lying and flood easily
at least four of the five major exporters expect to see a drop in wheat sowings without offset in other countries
1986 1st qtr oper net excludes loss carryforward of 78000 dlrs or one ct per share and loss from discontinued operations of 475000 dlrs
but they doubt the usefulness of the latest move
armstrong world ack unit buys plant
reserves were built up during the late 1970s and early 1980s when saudi arabias breakneck pace of construction and tales of high spending became legendary
rmj holding is the holding company for rmj securities a large broker of us government securities and agency obligations bank of new york owns a majority interest in rmj holding and management of rmj securities the remainder
exports rose to a record 693 billion from 620 billion
timber realization said the amount retained in that trust will depend on its experience in resolving open items up to the termination date but it added it expects to retain a substantial amount in the trust
that is 122 basis points more than the yield of comparable treasury securities
qtly div 1 3 4 cts vs 1 3 4 cts prior pay april 23 record april nine note full name restaurant management services inc
the company changed its fiscal year in 1986 to a calendar year from a year ending november 30
carson pirie scott and co said it plans to start mailing proxy materials to stockholders in connection to a november 16 special meeting at which holders will be asked to consider a previously announced agreement with greyhound corp g under the agreement greyhound will acquire in a merger three of the companys foodservice operations dobbs international services dobbs houses and carson international
waste management corp votes two for one stock split and boosts qtly dividend to 18 cts
the co leaders in the new danish eurobond deal are copenhagen handelsbank den danske bank and kredietbank luxembourg thuesen added
he said that the majority of texas oil wells fall within the stripper well category and a price swing of two to three dlrs a barrel can be crucial in determining if the well remains in production
gpus gpu three mile island power reduced
the area planted to cotton is to remain at the 1986 level of 100000 to 112500 acres with exports expected to bring in 80 to 90 mln dlrs per year
german banker calls for special monetary meeting
according to the terms of the deal first union will pay 85 mln dlrs for the outstanding shares of commerce national a bank with 432 mln dlrs in assets
the issue is rated a top flight aaa by standard and poors
it said intensifying competition in an environment of slow economic growth moodys predicts 25 pct worldwide growth in 1987 will lower returns and margins for many multinational firms
the balance of payments would show a five billion markka deficit in 1987 against a 42 billion deficit in 1986
we dont want to take retaliatory action here if we dont have to yeutter said
bankworkers leaders said that a national strike launched yesterday to press for a 100 pct immediate pay rise and monthly salary adjustments had the support of most of the 700000 workforce
the repurchase agreement yields compare with the 38750 pct one month commercial bill discount rate today and the 428 11 pct rate on one month certificates of deposit
the fall compares with a decline of 02 pct in december
the later downtrend followed confirmation of a us navy attack on an iranian oil platform by the us defence secretary caspar weinburger
bp bp raises north sea butane prices
all regions have seen above average falls in long term unemployment during the past year he added
he was reacting to comments by local economists who said manilas debt accord was no better than mexicos which had won 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
fifth third fitbo to merge with c and h
aqazadeh said the half billion dollar damage estimate was preliminary
it said about 500 individual claims against it and certain of its units remain pending as disputed claims in bankruptcy court
consumer prices were on average three pct higher than in february 1986 the office said
agriculture ministry sources said the paper marked an easing in japans tough position on agricultural imports which stressed the need for strict controls on some products to maintain self sufficiency in food
space microwave laboratories inc said it registered with the securities and exchange commission a secondary offering of 2200 units of its securities at 1000 dlrs per unit
entertainment marketing whose chief executive officer elias zinn once ran an electronics retailing business said in a statement it had committed 50 mln dlrs toward the purchase of crazy eddie and had retained dean witter reynolds inc to assist in financing the balance
but their dislike of taxes exceeded their general dislike of spending programs
with other costs this means a price in pakistani markets of between 230 and 250 rupees per kilo
its ridiculous to think the federal reserve will raise interest rates when the dollar is weak against just one currency
total m2 rose 20 pct to 54571 billion dlrs in february from january when it increased by 33 pct
the aim is to pressurise a companys management into action dedicated solely to a favourable impact on the share price in the short term partly or even primarily at the expense of the future he said
it said cautiously that us forces attacked late sunday and that two iranian oil platforms east of bahrain were ablaze as a result but cbs news and other networks said flatly that us forces attacked the iranian oil platforms
chinese crops hit by frost snow and rain in march
it said the fighting was quelled after 25 minutes by its own security staff
economists agreed that the employment data were negative for the credit markets in that they signal a healthier economy and no easing in the federal reserves monetary policy
canadian narrowly defined money supply m 1 fell 291 mln dlrs to 3244 billion dlrs in the week ended march 25 bank of canada said
transfer of the license for the sation has been approved by the federal communications commission
minnesota governor rudy perpich is considering calling a special legislative session to consider amendments to the states anti takeover statute according to the governors office
conable said the world bank was expanding its structural adjustment loans designed to encourage developing countries to open their economies more to free competition and trade
the stop and shop cos inc said its board voted a two for one stock split payable july one to stockholders of record may 29
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
under this phase originally due to have started two years after the ems was set up decision making was to have been transferred from national governments and central banks to an autonomous european monetary fund
if negotiations go smoothly ramnath said construction could begin by next january
trelleborg take larger slice of boliden
mercantile stores mst march sales up 05 pct
usdas amstutz sympathetic to wood credits
burke parsons bowlby corp sets regular payout
a tight money market has pushed interest rates on three to six month time deposits to between 15 and 18 pct from 13 to 15 pct a month ago bankers said
but he said no agreements had yet been finalised under the new joint venture laws
usda forecast argentine 1986 87 coarse grain exports at 660 mln tonnes vs 773 mln tonnes last month and projected 1985 86 exports at 943 mln tonnes vs 958 mln last month
shr loss 150 dlrs vs loss 14 cts net loss 3395933 vs loss 318225 revs 8963097 vs 126 mln year shr loss 293 dlrs vs profit two cts net loss 6613327 vs profit 49421 revs 444 mln vs 487 mln note current periods include 22 mln dlr charge for possible obsolete inventory and provision of 356000 dlrs for consolidation of cable manufacturing plant
the largest interest was 25 pct of an oil and gas well in weld county colo the company said
usx x unit hikes crude oil posted prices
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
the last tankoku auction on february 12 produced a record low yield of 3383 pct reflecting expectation of a half point cut in japans discount rate he said
shr two cts vs 36 cts net 182000 vs 3433000 revs 201 mln vs 214 mln year shr 71 cts vs 98 cts net 6706000 vs 9275000 revs 857 mln vs 754 mln note 1985 net both periods includes gain 743000 dlrs from cancellation of debt
however a cuban sugar official told that the country will be lucky if crude output reaches last years 72 mln tonnes
25 57 n long
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
kellwood kwd buying three companies
us bill auction rates average 572 580 pct
evans southerland escc sells convertible debt
total assets decreased to 356 mln dlrs from 818 mln dlrs
british petroleum plcs plan to pay 74 billion dlrs for less than half of standard oil co has signalled higher values in the us oil patch analysts said
uk money market given further 168 mln stg help
aweke said peasants in wello tigre and hararghe regions which suffered severely from drought were now able to sow their crops because of the favourable rains
sec warns securities dealers on high mark ups
there will initially be no tax on re exports of maize and sorghum from spain to other ec countries although such a tax could be imposed later the sources added
clark equipment ckl buys 13 mln shares
the company said the stock split is effective march 16 with a distribution of one additional share to each shareholder of record march 9
we didnt come here to make a cash flow programme he said we will have meetings at the imf next month lets see what happens neither did brazil plan a major overhaul of current domestic economic policies which funaro said would likely lead to a five pct economic growth this year
the uaes minister of state for finance and industry ahmed humaid al tayer told reporters after the two day talks that the ministers referred the issue back to gcc central bank governors for further discussion
bonneville pacific corp bpco 3rd qtr jan 31
key futures volumes as detailed by liffe were feb87 jan87 feb86 long gilt 424865 525354 134420 eurodollar 140417 100941 81648 short sterling 94720 87619 67640 t bond 84694 87980 133766 ft se 22109 15279 8181 currencies 2799 2112 7737 short gilt 74 85 6516 key options volumes as detailed by liffe were feb87 jan87 feb86 long gilt 44640 54329 eurodollar 3580 1720 2844 t bond 1737 3479 sterling 1466 2223 18191 ft se 1277 657 total options 52700 62408 23238 long gilt t bond and ft se index options were not trading in february 1986
shr 81 cts vs 24 cts net 40453000 vs 11833000 sales 2671 mln vs 1270 mln avg shrs 50226000 vs 48337000 nine mths shr 207 dlrs vs 38 cts net 102564000 vs 18127000 sales 7080 mln vs 3183 mln avg shrs 49573000 vs 48024000
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
berisford lifts first half profit 25 mln stg
blue grass breeders inc said it has completed the acquisition of equine enterprises inc for four mln common shares
nippon life staff will also acquire expertise in business sectors which have not yet opened up in japan they added
on march 13 colombia opened registrations for april and may for an unlimited amount
foreign firms hope to join japan telecom company
norstar said the acquisition is subject to approval by uniteds holders and state and federal regulators
shr 89 cts vs not available net 1163000 vs 466000 nine mths net 3696000 vs 1624000 note company converted to stock ownership effective august 1986
dart group corp said it offered to buy supermarkets general corp for 4175 dlrs per share in cash
the 30 countries covered by the figures account for about 97 pct of world non communist steel production the institute said
the new cds with maturities of six months one year and two years carry interest rates ranging from 407 to 512 pct a bank spokesman told 
the other 200 billion yen will yield 36003 pct in 43 day repurchase accords maturing on august 12
it also announced a number of measures to ease hardship including higher pensions and family allowances
corporate bond prices closed on friday at 27401 up from the indexs initial value of 10000 on december 31 1979 the agency said
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 most recent issue for the state traded today at a yield of 624 pct one bank dealer said
uk money market deficit revised to one billion stg
company also set dividend of 11 marks for new preference shares which were issued last year
great american corp sees 1st qtr charge of 141 mln dlrs against loan loss allowance
norandas new brunswick mine smelter also has a contract expiry in july which may cause some nervousness in view of strikes by its zinc and copper workers over recent months
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
it said one proposed venture would produce aluminium packaging for food and cosmetics
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
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
fiji sugar farmers will receive an interim payment on the 1986 crop four months ahead of schedule in a move aimed at getting harvesting of the drought hit 1987 crop under way governor general ratu sir penaia ganilau said
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
rada bought its stake for 5055 mln dlrs from wattie industries ltd last year but it has not disclosed the price to be paid by amcor
phillips debt stood at 59 billion dlrs in december 1986 down from a 1985 high of 86 billion dlrs analysts said
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
1985 net loss includes a charge of about 23 mln dlrs from settlement of class action lawsuit
jm resources inc in merger agreement
karl thomas head of the bundesbanks credit department said the domestic investor had missed earnings opportunities over the last four years by failing to invest in german bonds
there is a 1 1 4 pct selling concession and 5 8 pct combined management and underwriting fee
consumers financial corp cfin 1986 net
first federal fark buys back capital notes
bank negara said its forecast assumes that crude oil will average 1550 dlrs a barrel rubber at 210 cents a kilo palm oil at 850 ringgit a tonne tin at 17 ringgit a kilo and a rise of 12 pct in manufacturing exports
fiduciary trust co in five for one stock split
the official told that ivorian agriculture minister denis bra kanon would attend the opening of the talks convened by the international cocoa organization icco in london on monday
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
mse cable systems inc 4th qtr net
decisions on how to cut the farm budget will have to be made very quickly in order to make any impact on the fy 1988 budget glickman added
for the remaining 526 pct it offered an exchange of 19 shares of its shares for one irving share
final test inc fnlt 4th qtr loss
oecd agrees export credit reforms
one of their leaders orlando dos santos told that most of the 1100 seamen in the port offered their resignations on wednesday
shr 18 cts vs 39 cts net 507000 vs 762000 sales 113 mln vs 117 mln avg shrs 2789000 vs 1961000 nine mths shr 39 cts vs 90 cts net 1076000 vs 1752000 sales 329 mln vs 333 mln avg shrs 2771000 vs 1955000
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
if you have an agreement such as coffee with a system of quotas with a link between prices practised inside the pact and actual market prices it can work
uk intervention bd says ec sets white sugar tender rebate 43248 ecus
cominco said it is filing a preliminary prospectus with securities regulators in all canadian provinces
venezuela is currently seeking loans in japan and west germany to finance steel and aluminium expansion
fujitsu makes similar chips and supplies them to us supercomputer makers they said
the merger would create the nations second longest railroad
leading industrial nations to meet in april
it said the company expected to realize a reduced fuel economy but is working on improving fuel consumption
he said the goal for official development assistance oda this year is two billion dlrs adding that aid donors have committed oda inflows of 17 billion dlrs in 1987 up 30 pct from 13 billion in 1986
new zealand investment companies rainbow corp ltd and equiticorp holdings ltd have placed the majority of their joint shareholding in oil and gas conglomerate ultramar plc umarl at prices up to 220 stg per share the companies said in a statement
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
it was business as usual yesterday at the american motors headquarters one day after the proposed merger was unveiled by chrysler and amcs french parent renault according to company spokesman edd snyder
northern trust corp said its first quarter earnings were reduced by 875000 dlrs by placing 532 mln dlrs of loans to brazil and six mln dlrs in loans to ecuador on a cash basis
but now both tranches have been increased by 50000 tonnes to 170000 tonnes with south korea added as a possible destination
the owens illinois subsidiary which began the tender offer on september 23 will not be able to buy brockways common shares until 10 days following owens illinois compliance with the ftc request or other conditions
yeutter almost sure japan will not retaliate
japanese finance minister kiichi miyazawa said the strengthening of the yen against the dollar since the paris agreement was within the range agreed in the louvre discussions
bundesbank data
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
profit after financial items 8212 mln crowns vs 7402 mln
first federal bank fsb said it has entered into a letter of intent to merge into bankeast corp for 60 dlrs per first federal share in bankeast common stock
banks in hong kong are likely to raise prime rates by half a percentage point to 6 1 2 pct following a one quarter point prime rate increase by two major us banks yesterday dealers said
it is dwarfed by viacom
crime control assets to be sold to hawley
the bank said it reported a profit of more than 20 mln dlrs on the transaction involving 390 mln dlrs of fnma securities including the arbitrage gain
general acquisition said the board could not carry out its duties to shareholders and make an informed decision until it has explored with us the ways in which our offer can be revised to provide greater value to your shareholders general acquisition added it was aware the board may be reviewing alternative transactions which might provide gencorp shareholders with a payment other than cash
they need to beef up domestic demand as their trade surplus falls or unemployment will keep growing bergsten said
avon products inc said it reached an agreement in principle to purchase giorgio inc a fragrance company for 185 mln dlrs in cash
shr not given net 788099 revs 155 mln note company went public during 1986
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
the jump in refining capacity is a concern if it continues said kenneth buckler executive vice president of refining and marketing at total petroleum co a us subsidiary of cie francaise des petroles of france
they the stockpiles stand to gain the most by being managed properly said the staffer
there will be seven to eight billion dlrs of generic certificates on the market by the end of harvest an agriculture department official said
funaro said the commercial banks agreed on brazils need for economic growth and added that creditors were aware that brazil cannot continue to export the 24 billion dlrs in net capital that it transferred over the past three years
afg afg wagner brown bid for gencorp gy 
in january seasonally adjusted unemployment fell by a revised 1100 to 113 pct it said
period ended may 31 shr 42 cts vs 53 cts net 13600000 vs 17100000 revs 2633 mln vs 2438 mln
allied stores als sells dillard dds two units
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
one has to wonder if monier is the main target herbert said csr had no plans to raise its bid and said a higher price would be difficult to justify on fundamentals
purolator courier corps stock rose on specualtion that a disgruntled former purolator director would find a new suitor for the company traders said
the transaction looks highly unlikely to be completed at present
alcan nz last traded at 155 nz dlrs while alcan australia today ended four cents down at 115 dlrs
pakistan however rejected offers at its tender for 12000 tonnes of rbd palm oil but is expected to reenter the market next week they said
year on year retail price inflation was confirmed at 34 pct for february compared with a three pct rise year on year in january
full name is international power machines corp
corn sales of 2806300 tonnes in the week ended march 19 were the highest level since mid november 1979 the us agriculture department said
the group said action by japan to cut back on semiconductor exports is not what is required
a small loss was recorded for the first nine months of 1986
world crop weather summary usda noaa
last month keppel reported a group net profit of 51 mln singapore dlrs for the year ended december 31 1986 against a loss of 1296 mln dlrs in 1985
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
miyazawa met with us treasury secretary james baker early in this afternoon and discussed the dollar yen exchange rates officials said but they declined to disclosed the details of that discussion
but if the merger does not occur bakers senior debt would be cut to a minus from a and commercial paper to a 2 from a 1
lsb industries inc lsb 4th qtr net
workers and employers contribute a respective 25 pct and 10 pct of a workers salary to the cpf which had funds totalling 293 billion at end 1986
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
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
shr loss 15 cts vs nil net loss 877000 vs profit 22000 sales 135 mln vs 180 mln nine mths shr loss 35 cts vs profit 20 cts net loss 2098000 vs profit 1184000 sales 435 mln vs 559 mln electro scientific industries
akzo revises 1986 profit up slightly
cra said it was deferring consideration of a dividend until later this year to provide the benefit of dividend imputation to its shareholders
its not at all inconceivable that the fed didnt add as much as they wanted to because of the shortage of collateral said ward mccarthy of merrill lynch economics inc
ongpin told reporters on saturday it was expected to touch five pct this year
for its first quarter ended january 31 farah lost 1891000 dlrs or 32 cts a share on sales of 71 mln dlrs
european currency markets reacted quietly to the g 7 communique with comments from bankers and dealers ranging from disappointment that it was not more concrete to surprise that the markets should have expected so much
the financing will be for 14 months but the borrower will have the option after 10 months to request an extension for another six months
permian corp said that effective march 5 it raised its posted prices for crude oil 50 cts a barrel
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
but profits in balfour beatty were substantially improved
kowloon electricity supply co ltd a joint venture of china light and power co ltd clphhk and exxon corp xon has renewed and increased an existing commercial paper program arranger schroders asia ltd said
china has warned that this years harvest will be affected by drought in many areas
i would admit that its impacts would be very marginal at first but it is a step towards the goal of separating production decisions from government payments collins said
k mart corp said recent talks to sell 65 remaining kresge variety stores and their underlying real estate to fw woolworth co z have ended
mr
volcker said he believed brazil and ecuador want to maintain continuity in their debt service
de groote said the increased earnings in the previous four quarters was due partly to internal growth of about 15 pct
one dealer said he felt some business had been done but that the amount probably was on the low end of trade estimates
the use rate for utilities was up to 808 pct last month from 804 pct in january
wilson who was chairing the news conference made it clear jamaica itself would not be hit by the tax as it does not export oils and fats
lead investor is investors in industry plc cityquest also has loan facilities of 30 mln stg
it is therefore not possible on this basis to draw conclusions about the developments of the external current account the statement added
some of these proposals are likely to take some time to put into effect the sources said
keane inc kean 4th qtr
tcw convertible securities fund inc said its board declared an initial quarterly dividend of three cents per share payable april 30 to shareholders of record april 17
shr not given net 540000 vs 1890000 revs 49 mln vs 71 mln
german veba placement said likely early next week
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
interco inc 4th qtr shr 99 cts vs 97 cts
chuck levitt analyst for shearson lehman said that with the number of cattle on feed down five pct at the beginning of the year a three pct decline in marketings was expected
the onset of cooler weather in brazil during the southern hemisphere winter is expected to have a stabilising effect on a weak coffee market west german trade sources said
us securities industry assn backs restraints on takeovers insider trading
production in the 30 countries which report their figures to it was 69 pct below the february 1986 level at 3203 mln tonnes
corn sales gained 2494900 tonnes in the week ended february 26 the highest weekly total since august 1984 and two and three quarter times the prior weeks level the us agriculture department said
american express stock got a lift from the rumor as the market calculated a partially public shearson may command a good market value thereby boosting the total value of american express
but departure remains uncertain because of the continuing parliamentary boycott by opposition parties protesting plans for a new sales tax
the automaker sold the am general unit to ltv corp qltv in 1983 the same year it was awarded a five year 12 billion dlr procurement contract with the military
combined intl pma raises payout votes split
in a filing with the securities and exchange commission halcyon whose managing partner is alan b
french 13 week t bill average rate falls to 735 pct from 737 pct official
the group said it purchased the shares for investment purposes
allied signal said bearing acquisition is a newly formed corporation owned by an investors group organized by harold s
the cmos have an initial coupon of 70375 pct which will be reset 60 basis points above libor said sole manager thomson mckinnon
viacom via receives two revised offers
a hearing is set for march 20
the report said jardine which moved its place of domicile from hong kong to bermuda in the wake of the agreement to transfer the british colony back to china in 1997 was contemplating a similar move for hongkong land
ford motor co said its ford motor credit co on april one will redeem 40 mln dlrs of its 870 pct debentures due april 1 1999
qatar unveils budget for fiscal 1987 88
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
banking center tbcx to make acquisition
esso malaysia reports higher profit in 1986
but they expect it to continue to ban domestic participation in the market for some time to come
rain boosts central queensland sugar cane crop
issue cost including fees will be 48 pct or 09 percentage point below the march issue rates for japanese electric power company bonds
in the year to end september rogers operating income was more than 10 mln dlrs
the us agriculture department said private us exporters reported purchases from foreign sellers of 120000 tonnes of wheat for delivery to unknown destinations
if you dont deal with the budget deficit everything else you do is going to be counterproductive he said
the company said it anticipates full distribution to the creditors during march
listing is in frankfurt the bank said
money market dealers said the rate for the new advances was in line with expectations
us bond yields have been rising since may on inflationary fears and in early september the fed raised the discount rate to 600 pct from 550
nippon mining co ltd said it lowered its selling price for electrolytic copper by 10000 yen per tonne to 260000 effective immediately
the delegations to the conference are headed by hernandez of venezuela energy minister javier espinosa of ecuador energy minister kelvin ramnath of trinidad tobago jose luis alcudiai assistant energy secretary of mexico and energy minister guilermno perry rubio of colombia
the average price for the three month bills was 98554 and prices ranged from 98559 to 98549
the company said the acquisition is still subject to 30 day review by the us justice department and is expected to be completed in the second quarter
in the 15 year period between the time the note is purchased and the time it is redeemed no interest is paid
henley hengo ends talks with sante fe
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
estimates of the total volume of the sunflower crop were revised downward in light of the bad weather
he noted viacom has exclusive agreements with two studios and plans to sign a deal with a third company next month
cocoa consumption is basically flat and last year it fell so i dont think they can start throwing out cocoa and find many more markets for it one analyst said
japanese seen lightening us bond holdings
yeutter said if nations do the right kinds of things in financial monetary and tax policies then a lesser burden of adjustment is placed on exchange rates and one could envision a situation of the major trading nations moving back far closer to what most of us would consider equilibrium and exchange rates becoming relatively stable but he said on the other hand that if nations did not exhibit greater self discipline and international cooperation it is simply inevitable that the exchange rates will make that adjustment
agency to review johnson and johnson sweetener
industrial bank of japan ltd senior economist susumu taketomi agreed
the us index of leading indicators fell a seasonally adjusted 10 pct in january after a revised 23 pct december gain the commerce department said
commercial national corp said it cut its quarterly dividend to 15 cts per share from 25 cts due to current expectations for 1987 earnings
there was no immediate confirmation of the attacks from persian gulf shipping sources
the higher construction costs plus higher operating costs would increase the cost of power produced by mayo unit two with scrubbers by about 90 mln dlrs per year a company spokesman said the company has already spent about 23 mln dlrs on mayo two
the bundesbank is currently steering call money between 36 and 38 pct although short term fluctuations outside that range are possible dealers said
it said the new intermediate term mortgage purchase programs are designed to offer home buyers more home financing flexibility
they were rather a direct reaction to higher interest rates in the united states
barley sold to saudi arabia usda
m 1 money supply for the week ended february 23 reported today rose 19 billion dlrs to 7385 billion but preliminary forecasts call for a drop next week of around two billion dlrs
nppc delegates approve disease and drug programs
an agency official blamed industrial restructuring and the strong yen for the rise in unemployment
exports in 1985 86 are estimated at 2777 mln tonnes vs 2762 last month
he said the nation would later announce plans to deal with the countrys 816 billion dlr foreign debt
taft braodacasting co said its board of directors unanimously decided not to accept the pending proposal of theta corp an investor group led by dudley taft
the action increases the value of export credit guarantees for wood products to haiti from 18 to 28 mln dlrs and the total value of export credit guarantees authorized to haiti for the current fiscal year for all commodities to 120 mln dlrs the department said
the company said mdc has an option to convert winley preferred stock into 20 pct winley common in a year
tokheim said shipments of tcs will begin in the second quarter
a dixons spokesman said the decision to retain one mln shares reflected woolworths buoyant prospects
the average price for the six months bills was 96926 and prices ranged from 96977 to 96916
economists expect the fed to execute 20 25 billion dlrs of customer repos to offset pressures from the end of the two week bank reserve maintenance period today
exports were 2837 billion against 3065 billion and 2440 billion
so with australians you win some and you lose some
waste management inc said it received notice of early termination of the hart scott rodino waiting period for its 270 mln dlr takeover bid for chemlawn corp chem the waiting period was terminated march 11 waste management said
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
in return the united states agreed to hold up imposing anti dumping duties on japanese semiconductor shipments
the new international cocoa agreement should lead to a stabilisation of prices both benefitting producer countries and promoting an equilibrium in international economic relations european community development commissioner lorenzo natali said
since that has been achieved there is no longer any reason to maintain the equity positions kodak said
national computer systems inc said it agreed to acquire deluxe check printers incs dlx 38 pct stake in data card corp
ugo said the price paid included outlays for the laboratory technology and staff
the new york may price was down 1559 at 10800 cents a lb
but pertamina president abdul rachman ramly has said priority will be given to extending contracts for companies whose exploration and production contracts expire within the next seven to 10 years
the department said first quarter exports expanded to 606 billion baht from 566 billion
he inherited inflation of 23000 pct a year state enterprises that were losing hundreds of mlns of dlrs and a currency that traded on the black market at up to 16 times its official rate
1987 net excludes tax credits of 1569000 dlrs in quarter and 2894000 dlrs in nine mths
ibc closes export registrations ibc official
the bond guaranteed by parent general motors acceptance corp is available in denominations of 1000 and 10000 dlrs and will be listed in luxembourg
last year the company made 40 acquisitions the largest being glidden
qtly div payable april 15 to shareholders of record march 24
woburn five cents savings wobso 1st qtr net
the sources said no minister challenged narjes analysis that four or five hot rolled wide strip lines would have to close
however varity increased its share of the global tractor market by more than one pct to 182 pct it said
the company did not immediately elaborate on total production figures
the nations 14181 commercial banks had net income of 178 billion dlrs in 1986 down slightly from 1985s record 181 billion dlrs
some analysts noted friction between the finance ministry and the central bank with finance minister onno ruding having said before the bundesbank discount rate cut he favoured lower dutch rates but that the germans should move first
there are no bases of truth to the contents of the iranian accusation on the nature of the operations of the vessels recently taken into custody by iran
thus far they have been willing the eic said adding that if japan was deterred from buying us bonds the dollar would collapse
dome said 1986 crude oil production in 1986 was maintained at prior years levels through new drilling activity and improvements in productivity
panama sugar vessel safely docked at greenock
hughes board had previously found unacceptable a us justice department consent decree that would have required broader divestitures
the company said the deposits do not affect the safe operation of the plant but interfere with the production of steam
lyng said the us has been trying to reduce farm product output with expensive programs maki said
the soviet union will likely honor its commitment with the united states to buy a minimum of four mln tonnes of corn this year an agriculture department official said
burlington industries bur sells convertibles
accepting avana shareholders will also be entitled to receive ranks hoviss forecast net interim dividend of 265p for the financial year ending 5 september 1987
coastal raises crude oil postings 50 cts bbl yesterday wti to 19 dlrs
urban told reporters that debt servicing was hampering the expansion of the national economy but that the new plans for economic reform would open new vistas for polish exports he criticised the blocking efforts of some western governments whom he declined to name for putting political considerations ahead of economic co operation
in its international weather and crop summary the agency said most of the regions precipitation fell as rain
bids for the tender held today totalled about 465 mln dinars the spokesman said
the buffer stock manager is expected to begin buying cocoa within the next three weeks after organizing communications with cocoa producing countries and assessing the market since prices are below the must buy level of 1600 special drawing rights per tonne specified in the agreement the sources said
american savings bank fsb abnyo 3rd qtr net
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
bat shares undervalued say stock market analysts
year to date ford said it produced 534209 us cars up from 446505 last year to date
sears roebuck and co s posted a 49 pct increase
other firms might not be so lucky he said and they could find it difficult to preserve their independence when the bull market ends
payment is due march 27
commenting on the countrys foreign debt fernandez said i think the philippine debt stock looms large because our own receipts from exports have not taken the same kind of leap forward as might have been suitable the foreign debt is projected by the central bank to reach 2904 billion dlrs by the end of 1987
the us has thought carefully about what would correspond to iranian agression
trw incs trw componenets international inc unit said it set a pact with tektronix incs triquint semiconductor unit to jointly supply gallium arsenide devices for space applications
retailers are not planning for much inventories are being kept lean markdowns are lower than last year but sales are coming through anyway said cj analyst harry mortner
the us and the european community could enter into a new trade dispute unless urgent action is taken to explain ec farm policy to the us congress french official sources said
no fixed time was set for the release
china to import more grain in 1987
he said he feared net debt would also rise slightly this year but he was in favour of borrowing for the purpose of modernisation
qtly div 44 cts vs 44 cts pay april 30 record april 4
the independent institute said in its quarterly march issue that it was also revising its fiscal 1987 real gross domestic product gdp forecast to a fall of 05 pct against the one pct drop forecast in december
a spokesman for the confectionery industry association said that west german grindings are expected to stay relatively high in comparison to other west european countries
the commodity credit corporation ccc has accepted a bid for two bonus offers to cover the sale of 10000 tonnes of frozen poultry to egypt the us agriculture department said
charter also said a plan for liquidation of independent has been approved by the bankruptcy court and will be completed after march 31
jp industries recently completed the acquisition of clevites engine parts division
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
mdu mdu preferred stock upgraded to a by s p
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
koizumi said the ldp plan will not specify the size of the tax cut or the amount of domestic demand to be stimulated
illinois sweet and indiana sweet are both being raised 50 cts a barrel to 1675 dlrs bbl and the southern michigan grade is being raised 25 cts bbl also to 1675 dlrs a bbl
the sources said the two fold jump in exports last week appeared to be the result of buyers rushing to lift february entitlements before the month end
pacific said team expects to earn over 80 mln canadian dlrs per year when the acquisition is completed
the mykon wave arrived in the port recently with about 18300 tonnes of bulk sugar from maputo in swaziland
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
it becomes the fourth us bank to raise the rate following citibank chase manhattan and manufacturers hanover trust
cargill uk strike talks to resume tuesday
the closer to that stage the more vulnerable the head of the wheat is to cold weather he 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
qtly div 40 cts vs 40 cts pay march 31 record march 16
other miscellaneous amendments included urging the administration consider retaliating against japan and south korea if those countries do not remove restrictions on beef imports
st lawrence seaway opening still march 31
west german retailers expect another good year in 1987 even though they will not be able to repeat the sharp increase in turnover they enjoyed in 1986 the general association of the german retail trade hde said
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
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 banking bill authorizes us participation in a multilateral investment guarantee agency miga as requested by the administration
lichtblau president of petroleum industry research associates
mitsubishi bank plans 300 mln hk dlr cd facility
the growth rate of brazilian industrial output slowed in january to 609 pct above the same 1986 month after rising 671 pct in december brazilian geography and statistics institute figures show
idc services inc said a new company will begin a cash tender offer by october 26 to acquire all of idcs outstanding common for 16 dlrs a share
but the company said it has not held negotiations with charter crellin and does not intend to initiate further discussions
the second sale when completed will lower its stake to 199 pct acceleration said
the pound surged to a high of 15798 808 dlrs at the london close up from the previous finish at 15650 60 and 28900 60 marks up from 28720 50
bp unit sees us gold mine proceeding
thai prices for march may 15 shipments have hardened to around 13 14 points under may new york from larger discounts previously they added
on the other hand major long term investors such as japanese insurance companies are not very enthusiastic about buying british securities ahead of the march 31 close of the japanese financial year traders said
twas proposal is nothing more than an attempt by carl icahn to disrupt at the eleventh hour usair groups acquisition of piedmont a transaction which the usair group board views as most beneficial to usair group shareholders employees and passengers and which mr
hudson bay mining and smelting co ltd said it cut prices for all grades of zinc sold in north america by one us cent a pound and by one canadian cent a pound effective immediately
the us wants south korea to cut its trade surplus with the us which rose to 74 billion dlrs in 1986 from 43 billion dlrs in 1985
loblaw cos to sell 75 mln dlrs of debentures
us business loans fell 822 mln dlrs
rexham said nortek has also agreed not to buy rexham shares or take other actions under a 10 year standstill agreement
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 company said the contract work will be performed at its facilities in grand prairie texas and is expected to be completed by september
us heating oil futures up sharply in april
he estimated total vegetable oil production this year at 334 mln tonnes up from 330 mln last year and disappearance at 340 mln tonnes up from 326 mln
our net income and cash flow will benefit from lower interest expense lower canadian taxes and the considerable savings achieved over the past few years from cost reductions he said
the us said it intended to raise tariffs of as much as 300 mln dlrs on japanese exports to the us on the grounds japan had abrogated a bilateral semiconductor pact
louisiana land and exploration co said it du pont cos conoco inc subsidiary and oranje nassau energie bv have been offered four exploration blocks offshore the netherlands
there would accordingly be a two step procedure whereby it would need just a 35 pct vote to delay loan approval for a year after which a second review would require a 40 pct blocking vote
public concern has focused on the way guinness may have breached uk company law and the takeover code by prompting others to support its share price during the bid
call money and period tariffs were only fractionally changed this week and were seen sustaining their stable levels since no dramatic changes in the money market debt currently around 1025 billion guilders are expected
the plant no longer fits the companys long term strategy du pont said
micron technology dram sees 2nd qtr loss
turnover rose by 44 pct to 325 billon guilders
duties royalties and taxes rose to 137 billion dlrs against 85272 mln in 1985 and gosper urged the government to move quickly to lift costly and unnecessary regulation
teeco properties lp sets cash distribution
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
the great atlantic and pacific tea co inc said it withdrew its offer to acquire delchamps inc dlcho for 27 dlrs a share or about 175 mln dlrs which was made earlier this month
domestic consumption increased 73 pct to 192069 tonnes for the three month period but this was not sufficient to prevent a significant rise in stocks which climbed to 162 mln tonnes by the end of january compared with 152 mln a year earlier
malaysias central bank said it acquired a 592 pct stake in ailing united asian bank bhd uab the sixth largest commercial bank in the country to rebuild public confidence in it
the rights which will expire 10 years later will entitle shareholders to buy one hundredth of a share of a new series of preferred at an exercise price of 20 dlrs
netbacks for other grades of oil refined in singapore are shown below in dlrs a barrel
these institutions will in turn act as custodians of government securities for their customers rendering each an individual accounting of his holdings hu said the new system will cut storage and handling costs and paper work reduce the danger of loss theft destruction and counterfeiting and permit greater speed and efficiency in handling large volumes of transactions
an additional 500000 tonnes of corn can be shipped from july september the grain associaiton said so total yugoslav corn exports could reach 20 mln tonnes the counselor said
texaco canada txc lowers crude postings
cargill inc of minnesota also took two shipments totalling 110000 tonnes priced between 9345 and 9465 dlrs per tonne for october 1 15 and december 5 20 delivery
the bank of england said it gave the market late assistance of around 210 mln stg bringing its total help on the day to some 353 mln stg
allegheny said it intends to vigorously defend itself against all charges
on feb 24 it said it was told the company had decided against a buyout
philadelphia electric co pe shelf offering of up to 15 mln shares of common stock through drexel burnham lambert inc
japanese importers bought some 95000 tonnes of chinese soybeans late last month for may to september shipment under the semi annual trade accords trade sources said
it said total crushing capacity for members was 25873904 bushels vs 25873904 last week and 25459238 bushels last year
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
they said standard oils brightest asset is its slightly more than 50 pct ownership of the alaskan prudhoe bay oil field
the offering which expires on april 27 unless extended is for up to 2250000 shares with the company reserving the right to accept three mln shares republic also said
corning glass glw sells debt at 825 pct
lifetime also said the private bank and trust of zurich on behalf of lifetime director and shareholder terence ramsden intends to subscribe for two mln shares of nippon lace at the same price paid by lifetime
excel bancorp xcel sets initial dividend
revenues last year rose to 194 billion dlrs from 134 billion dlrs in 1985
the company added that this investment will assist the groups agricultural division in realising its aim of catering for an increasingly diverse range of worldwide markets on a round the year basis
yeutters letter also said americans derive most of their saturated fats from meat and dairy products and relatively little from tropical oils
the tension has eased the permanent trade ambassador of the 12 member european community tran van thinh told reporters
smoky river holdings is an alberta company controlled by michael henson former president and chief executive of mcintyre the company said
keycorp said the transaction is designed to be tax free to commercial security shareholders
these warrants would have an exercise price equal to 150 pct of the 15 day average
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 16 cts vs 16 cts prior qtr pay may 15 record april 17
imports in 1985 86 totalled 224000 tonnes of which nearly 100000 tonnes are still in stock they said without giving further details
usdas production estimate of 210 mln tonnes reflects a range of 207 to 212 mln tonnes a usda source said
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
for 1986 the trust reported net income of 13 mln dlrs or 38 cts a share on a post split basis
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
ual said it made the move principally to broaden its equity base thereby making additional borrowing for ongoing capital requirements easier
the speculation depressed local interest rates and unleashed a flood of new issues
multi step products inc earlier reporting an initial six month loss said it agreed to sell wholly owned multi step manufacturing inc for 100000 dlrs cash subject to shareholder and regulatory approval
it said as part of the agreement its current direct investment in its existing non consolidated joint venture with ajinomoto will be converted into a cooperative arrangement for the long term utilization of technology and trademarks
oil firms cut 1987 indonesian exploration spending
such targets are believed to have been secretly agreed between finance ministers of the group of five and canada at their paris meeting last month they added
economy minister youssri mustapha who leaves for moscow on tuesday met president hosni mubarak and egyptian ambassador to moscow salah bassiouni to discuss the issue
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
the company said a settlement has been reached between the parties and and karl lorimar which includes a settlement of the employment contract between lorimar and stuart karl
following consummation of the offer a unit of macandrews will merge into revlon and each remaining share will be converted into the right to receive 2010 dlrs per share in cash the companies 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
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
we think were at the end now in terms of bidding said the firms arbitrageur who spoke on condition he not be identified
the quake triggered landslides swelling the aguarico river which burst it banks carrying away homes and huts in napo province health minister jorge brancho told 
the plan calls for distribution of one right for each of its outstanding common shares and each right entitles the holder to buy one one hundredth of a share of newly authorized series a junior participating cumulative preferred stock at an exercise price of 55 dlrs ameron said
the local dollar dropped to 05940 50 us dlrs in after hours trading against 05970 77 just before the budget release
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
spectran corp sptr 4th qtr
europeans are confused about this underlined by von moltkes reference to the leadership of the maekawa report
that is our approach in the negotiations with the soviets and it must be our approach as we look at the american farm program and try to figure out what we should do to make it better shultz told the wheat growers
the measure said the attack was a firm indication of us resolve that iran cannot take military action against the united states with impunity earlier the senate cut off republican stalling tactics and set a vote on a measure that could give congress a larger role in making gulf policy
the company said the new order supersedes an order issued by the department last friday that would have required usair to sell within one week of expiration of the tender any piedmont shares it held in excess of 51 pct of the piedmont stock then outstanding
union officials believe a new bid for the monopoly beet processor is now likely
the new package includes an eight mln dlr advance to rgc at the long term bond rate power concessions and deferred royalties and payroll taxes
vereins und westbank to reorganize network
usx x unit offers steel prices directory
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
union said a 150 dlrs cut brings its posted price for the us benchmark grade west texas intermediate to 16 dlrs
us officials said darman also played a key role in shepherding president reagans sweeping tax reform plan through the us congress
shr loss 192 dlrs vs profit five cts net loss 56 mln vs profit 136598 revs 14 mln vs
qtly distribution 10 cts per unit vs 10 cts prior pay april 20 record march 31
yeutter said the us will examine the canadian decision closely and if the us believes the decision was not based on facts will carefully evaluate appropriate responses yeutter did not say what steps the us may take in response
rospatch rpch to respond to diagnostic drs 
the agency received in london said the accord was reached between iranian oil minister gholamreza aqazadeh and a visiting ghanaian delegation headed by foreign minister obed asamoah
robertson colman and stephens co managed the deal
the company said trading in both issues will be suspended by the amex at the close on may one but is expected to start elsewhere on may four
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
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
a study on grain certificates due out shortly from the government accounting office gao could show that certificates cost the government 10 to 15 pct more than cash outlays administration and industry sources said
the b free shares closed at 1650 crowns on the bourses unofficial list down from a peak of 300 in january 1986
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
brazil did not do this homework one said
one dealer said the central bank bought about 200 mln dlrs through brokers and the rest through banks
finally a fed spokesman told a press briefing that the 14 money center banks were absent from the feds discount window for the third week running with the latest weeks borrowing split between the large regional and the smaller banks
talking point santa fe southern sfx 
a senior foreign ministry official who declined to be identified told the us threats have undercut those in the government who argue for conciliation
hamilton oil corp said reserves at the end of 1986 were 598 mln barrels of oil and 9055 billion cubic feet of natural gas or 211 mln barrels equivalent up 10 mln equivalent barrels from a year before
he noted the 176 billion mark surplus for january and february together was lower than the 216 billion mark surplus posted in november and december
peabody the largest coal producer in the us had net income of 1008 mln dlrs on sales of 14 billion dlrs in 1986
eqk realty investors ekr 4th qtr net
usx x says talks ended with british petroleum
internationalisation of the yen is also likely to be promoted by yen bond trading in chicago and new york later this year securities managers said
conable did not spell out what further changes he would like to see
de croo gave no deals on how he though the issue might be resolved
the european community ec is to boost spending to help the jobless this year
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
the approval follows an act of parliament passed last week designed to help the industry regroup and shed 20 pct of capacity by march 31 1988 transport ministry officials said
nance predicted that by 1990 the organization of producing and exporting countries would be producing at the rate of 80 pct of capacity
what the minister said does not imply any major economic policy change a ministry spokesman told 
hokkaido takushoku bank ltd is launching 100 mln swiss francs of convertible notes due september 30 1992 indicated at 1 1 4 pct and par lead manager swiss bank corp said
in february 1986 there was a deficit of 264 mln dlrs
while several foreign groups have said they want to gain a foothold in the french market their potential stake in cgct is limited to 20 pct under privatisation laws passed last year with 80 pct to be left in french hands
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
purolator pcc in buyout with hutton efh 
viacom international inc said it set april 6 as the record date for shareholders entitled to vote at a special meeting to be held to vote on the proposed merger of arsenal acquiring corp a wholly owned subsidiary of arsenal holdings inc into viacom
that fear has no basis in fact byrd said
new zealands current account deficit for the quarter ended december 31 1986 narrowed to 567 mln dlrs from 738 mln revised down from 742 mln for the september quarter and from 733 mln a year earlier the statistics department said
the agency cited ecolabs proposed acquisition of chemlawn corp chem for 370 mln dlr
the year on year trend of government stock building is continuing with company stocks rising more or less in line with consumption after declining for five years iea said
business editor theodore cross offers 34 dlrs share for harper and row
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
ecuador official seeks oil aid in venezuela
share analysts said they saw supervisory board approval of the management board proposal as virtually a formality
the investments will go to plant expansion infrastructure and the extension of hydroelectric facilities in the mineral rich guayana region south of the orinoco river
he added takeovers and mergers had an important role to play in furthering economies of scale integration and more efficient market penetration
it is also doubtful whether the tertiary sector can fully employ those put out of work in the manufacturing sector he said
costco wholesale costo 3rd qtr may 11 net
the plan will also urge the government to double 1985s official development assistance to 76 billion dlrs within five years instead of seven as the government had promised senior ldp officials said at a press conference
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
the west german registered motor vessel stefan e
total exports dropped to 250 billion dlrs last year against 297 billion in 1985
yields may have to rise to lure other buyers
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
pork will rise by 188 pct and beef 233 pct
wickes cos inc wix 4th qtr loss
spains inflation rises 04 pct in february
azpurua said that in 1990 payments of restructured debt are lowered to 105 billion dlrs from 1339 mln to 125 billion from 1994 mln in 1991 and to 145 billion from 2403 billion in 1992
additional payments may be made annually through the year ending march 31 1991 to bring the total consideration up to 95 pct of clevelands average post tax profits in the last two years of the period
a norfolk southern corp nsc spokesman said the company had no comment on twas offer for usair or on its proposal to negotiate a three way merger between twa usair and piedmont
a partnership of two belgian owned firms petrofina sa and cometra oil sa paid 150 mln dlrs late last year to buy virtually all the exploration assets of the williams cos wmb the oklahoma pipeline firm
it could not spend its way out of trouble because this would increase the balance of payments deficit and domestic inflation
ehrlich bober financial corp said its common stock has started trading on the american stock exchange the stock had been traded on the nasdaq system
among the key components of the report transportation prices rose 05 pct in february after a 15 pct january gain reflecting smaller price appreciation for motor fuels and declines in new car prices and finance charges
phlcorp inc said for november 14 through december 31 its first reporting period after emerging from reorganization proceedings it earned 86000 dlrs on revenues of 47 mln dlrs excluding 2300000 dlrs in gains on the sale of real estate and 800000 dlrs in tax credits
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
qtly div 14 1 2 cts vs 14 cts prior pay may 4 record april 17
the company today reported 1986 earnings of 2713912 dlrs up from 1402696 dlrs in 1985 and revenues of 987 mln dlrs up from 679 mln dlrs
oper shr profit four cts vs profit 13 cts oper net profit 456000 vs profit 1633000 revs 378 mln vs 340 mln avg shrs 130 mln vs 130 mln nine mths oper shr profit 12 cts vs loss 39 cts oper net profit 1614000 vs loss 4877000 revs 1092 mln vs 883 mln avg shrs 131 mln vs 125 mln note 1987 net excludes tax credits of 156000 dlrs in quarter and 716000 dlrs in nine mths
shr 44 cts vs 123 dlrs net 2889010 vs 8105462 sales 1058 mln vs 1196 mln
argosystems makes equipment to monitor and analyze military communications signals electronic warfare equipment to monitor and jam radar signals and signal processing systems
newman shares eased one penny on the announcement to 43p while hawker was unchanged at 528p three pence higher on last nights close
the spokesman said the company has built up a strong backlog of orders that will contribute to earnings in 1988 and beyond
bank of ireland said it launched in the us market a commercial paper program for up to 200 mln dlrs becoming the first irish issuer of paper in that market
us consumer credit rose 536 mln dlrs in jan
analysts suggested that tenneco could use a number of defensive strategies to fend off an unwanted buyer such as spin off some of its non energy businesses directly to shareholders buy back shares or create a limited partnership out of its natural gas pipeline interests
webb dwpa 
the buyers were based in centers ranging from europe to north america and japan he added
note net asset value per a share 694 dlrs vs 481 and per b share 139 dlrs vs 096
qtly div eights cts vs 75 cts prior pay march 31 record march 13
stoltenberg told a news conference given west germanys unusually high dependence on world trade and exports it is vital for west germany to continue its constructive contribution to trusting international cooperation on the basis of the louvre accord some monetary analysts have speculated that inflation conscious bundesbank vice president helmut schlesinger may have been leading the central bank to a course of tighter monetary policy
in last years third quarter national convenience earned 1788000 dlrs or eight cts per share including a gain of 2883000 dlrs from the sale of 186 stores to another operator
a gazette spokesman said his newspaper is le matins biggest creditor but he declined to reveal the amount of debt acting publisher jean pierre bordua said the newspapers bank blocked its lines of credit after three of the papers senior managers resigned friday
the 500 mln dlr credit under the lead management of paris based union de banques arabes et francaises ubaf has a five year maturity and a margin of one percentage point over london interbank offered rates libor banking sources said the agreement now worked out goes some way to meeting creditor bank demands that at least part of the first missing instalment of 7125 mln dlrs be paid and not deferred
the proposal had little chance of approval by ec governments with west germany as strongly opposed to it as britain and denmark the netherlands and portugal also unconvinced of its political or economic wisdom
hes trying to overhaul and improve the image of the dearptment store business another reason is that revlon has recently made two other acquisitions
dividend on 1986 business unchanged at 10 marks per ordinary share
bankers trust said it assumes that debt negotiations between brazil and its commercial bank lenders will lead to the resumption of interest payments
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
acico says it is ready to take its case to brussels if necessary
it also said that each year 1575 mln tonnes or 25 pct of chinas fruit output are left to rot and 21 mln tonnes or up to 30 pct of its vegetables
short term capital account payments swung to a 128 billion dlr deficit in february from a 160 billion surplus a year earlier and a 144 billion dlr surplus in january
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
toshibas timing is most extraordinary one official at the department of trade and industry dti said
bangemann calls for currency calm
flowers industries inc flo 3rd qtr march 7
unless there are further improvements at least some sugar is expected to remain in intervention it added
a cargo of duri loading in july was reportedly traded yesterday at 70 cents over its osp of 1560 dlrs per barrel and minas is trading about 20 cents higher they said
the announcement was made jointly by frank bennack jr president and chief executive officer of hearst and richard johnson president of the chronicle
commerce said the us trade deficit with latin america rose 900 mln dlrs to 26 billion dlrs with japan increased 700 mln dlrs to 148 billion dlrs and with western europe rose 200 mln to 72 billion dlrs in the quarter
the action reduces the guarantee lines previously authorized of dry edible beans to by five mln dlrs to 45 mln dlrs and for rice from five mln to zero and increases coverage for wheat sales from five mln to 15 mln dlrs
the index is based on 10 indicators which include export values letters of credit received warehouse stocks m 1 and m 3 money supply figures and the composite stock exchange index
in fact a further marked decline in the dollar rate would hold two major dangers gleske said
of last years loans 226 billion dlrs was actually disbursed bringing total disbursements to 2403 billion dlrs
usda said government outlays to rice farmers in 1987 are expected to reach 403 dlrs per acre planted followed by corn at 135 dlrs per planted acre
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
the backlog of orders at end february was 157 ships of 441 mln gross tons against 161 ships of 439 mln a month earlier and 265 vessels of 681 mln a year earlier an association official said
he noted that there have been no other publicly identified bidders stepping forward since the company rejected an earlier bilzerian proposal in mid april
rexcom rxsc to acquire marketing firm
jewelmasters said it expects to report audited results for the fourth quarter and year in about three weeks
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
one aide once described darman as indispensable to baker
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
they said that in meetings of the ec special committee on agriculture representatives of most member states had said the changes taken together would have too harsh an impact on farmers incomes
theyve pulled back so as not to be a commodity marketer said gormley
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
non performing assets totaled 124 billion vs 799 mln
sri lanka has 508000 acres planted with rubber trees
for year does not include extraordinary credit of 92000 dlrs or three cts per shr in 1986 and 161000 dlrs or five cts per shr in 1985
southern co said it will take an after tax charge of 226 mln dlrs against earnings no later than january 1988 because the projected cost of the vogtle nuclear power plant has risen abover the amount which retail customers in georgia will be asked to pay
the ratings downgraded to caa from ba 1 included texacos senior unsecured debt texaco capital incs and texaco capital nv s senior unsecured debt and industrial revenue and pollution control bonds
amoco said there were upward revisions in the size of its worldwide gas reserves totalling 404 billion cubic feet last year while it discovered 568 billion cubic feet and purchased 298 billion cubic feet of reserves
the selling concession is 1 3 8 pct while management and underwriting combined pays 5 8 pct
the new relief will apply to fields outside the southern basin for which development consent is first given on or after today and will improve the post tax economics of new developments and encourage companies to proceed with project which might have been delayed it said
the pipeline was shut down from cushing okla to witchita falls kan on saturday due to an undetermined leak at the red river crossing near the oklahoma texas border because of severe rains a spokesman for texaco said
by the end of the year we will have the capacity to carry 50 pct of all us long distance phone calls holland said
key inc subsidiary to a new concern formed by keys management and a private investor for about 155 mln dlrs
the vote in favor was 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
a traditional sunday lull in trading due to the european weekend also contributed to the lack of market activity
bell resources boosts stake in bhp
all mr
pakistan not seen as major wheat exporter
it said crude oil production for the first two months of 1987 was off 86 pct from the comparable year ago period while crude imports were up 306 pct
they expect it to supply the reserves indirectly by arranging around 15 of customer repurchase agreements
the overall balance of payments deficit rose to 265 billion dlrs from 130 billion a year earlier but was down from 704 billion in january
the group balance sheet including for the first time vereinwest overseas finance jersey rose 92 pct to 179 billion marks luckey said
under the terms of the offer the company will select a single cash purchase price for the stock based on the number of shares tendered not to exceed 40 dlrs per share or be lower than 35 dlrs per share tektronix said
uk money market given late help of 185 mln stg
walt disney increases eurobond to 75 mln aust dlrs
the rise is coming from a sharply lower dollar higher oil and energy prices and rising prices for services he said
japans ailing shipbuilding industry plans to refloat itself in a few years from the twin rocks of recession and a strong yen through capacity and workforce cuts and greater use of computers industry sources told 
international sugar pact to be renegotiated
payment is due april 30
about 60 pct of usxs sales come from oil and natural gas
it said in a report that the future of the swedish refining business was bleak due to the steady drop in domestic oil consumption since the mid 1970s a possible tightening of rules on sulphur content and competition from norways mongstad facility of den norske stats olieselskab statoil statol when its expansion is completed in the 1990s
rounding out the deal the banks have agreed to prolong six billion dlrs of trade lines and to refinance some 10 billion dlrs of private sector debt that comes under the mexican governments exchange guarantee scheme ficorca
the company said the agreement is subject to approval by the government and its shareholders
krupp gmbh krpgd steel and engineering group said it had a satisfactory 1986 despite a provisional 12 pct fall in total group sales to 181 billion marks from 207 billion the previous year
it sufficed to tell the market where central banks saw exchange rates over the next few years and intervention points should not be set because they were only testing points for the market he said
it gave no 1986 figures for comparison
smith and nephew associated companies plc is issuing an 85 mln stg convertible eurobond due may 7 2002 paying a fixed coupon of four pct and priced at par lead manager credit suisse first boston ltd said
in order to boost investment in the petroleum industry the government of indonesia has basically approved of extending production sharing contracts under the present laws suharto said
the hearst corp is buying the houston chronicle from houston endowment inc for 400 mln dlrs
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
corrected pegasus gold inc pgulf 4th qtr net
earlier today london traders had expected the subsidy for the current season whites campaign for licences to end sep to be around 4680 ecus per 100 kilos while french traders had put the rebate at around 4640 ecus
us investors are not interested in china per se as many japanese are
ford motor credit cos 200 mln marks of 5 3 4 pct eurobonds due 1992 were assigned an a1 rating
hutchison announces bonus issue of new b shares
bra kanon called for bilateral consultations among producers and consumers thursday morning to resolve outstanding differences on how much non member cocoa the buffer stock can purchase and differentials to be fixed for different origin cocoa consumer delegates told reporters
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
sheet prices fell by a rupee in the same period
cotton in mln 480 lb bales stocks july 31 1987 at 540 vs 549 last month
this need in itself is some sort of guarantee that we will soon have to come up with an extension agreement eleven major contract areas are due to come up for renewal between 1991 and 2001 industry sources said
this provision is designed to protect us companies from the unauthorized use of us designs in foreign products
us farm loan secondary market gains support
analysts said the budget was also positive for the share market despite an increase in the contribution of company taxation to revenue figures
it said the new agreement will at its option convert to a four year term loan in september 1988
the offer for the 45 pct of standard shares not owned by bp had been due to expire midnight april 28
group boosts scandinavia fund scf stake
it added that the notes will not be subject to redemption for one year after they are issued
memory protection mpdi completes acquisition
morgan guaranty jpm sues metromedia for notes
the intervention rate was cut from eight pct on march 10 after being raised from 7 1 4 pct on january 2 to head off speculative pressure against the franc
the acquisitions must be approved by the federal communications commission jacor added
because of the currency situation and the wage negotiations between germanys major employers and the unions the bundesbank would be very unlikely to make any changes to monetary policy at its council meeting on thursday they said
qtr ended feb 28 oper shr 31 cts vs 14 cts oper net 3203000 vs 1357000 revs 130 mln vs 156 mln note oper data does not include year ago extraordinary gain of 821000 dlrs or eight cts per shr
conti shares open higher on good new tyre reviews
1987 nine mths includes pre tax gain 12 mln dlrs on sale of uranium reserves
when their exports rise it hits the heart of the us manufacturing base
qtr ends jan 31 shr loss 38 cts vs loss 60 cts net loss 1388000 vs 2181000 revs 8199000 vs 6668000 note 1987 qtr includes tax gain 964000 for insurance claims
given brazils port loading capacity of around 100000 bags a day even if normal operations were resumed immediately and not interrupted by bad weather some march registered coffee will inevitably be shipped during april they added
oper shr 15 cts vs 107 dlrs oper net 372000 vs 2601000 year oper shr 80 cts vs 61 cts oper net 1952000 vs 1491000 note net excludes realized investment loss 13000 dlrs vs gain 986000 dlrs in quarter and gains 1047000 dlrs vs 1152000 dlrs in year
clark equipment ckl stake acquired
the council said in a statement the industry was bitterly disappointed by the australian governments position on taxation as presented in a speech by resources and energy minister gareth evans to the apea conference
several companies say they are willing to start trading yates told in an interview
robin marshall chief economist at chase manhattan securities said there is another half point to come in the near term this week or next week at the latest we see a whole point off base rates in the next two or three weeks analysts stressed that apart from prestige britain had very little to gain from a sharp rise in sterlings exchange rate
if they imports move above that level a fee may not be legislated but there will certainly be pressure for some form of action but lichtblau in a telephone interview said a 50 pct rate of import dependency is not likely to happen before 1990
standard chartered boosted bad debt provisions
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
southland corps citgo petroleum corp said it raised the contract price it will pay for crude oil 50 cts a barrel effective today
a us navy battle group led by the aircraft carrier kitty hawk is currently in the northern arabian sea
it would however increase inflation and reduce world trade it said
the sparks study on certificates examined two possible scenarios through the 1990 growing season a zero certificate case where no certificate program was assumed and an alternative case labeled adequate certificate case in which sufficient certificates would be released so that grain prices would not be artificially supported by market shortages due to acreage reduction programs or government holdings
one trader said malaysian cocoa is virtually indistinguishable from west african output if treated in the same way but this is not possible on the larger malaysian estates
traders here had also forecast todays total authorised sugar tonnage export awards up to 100000 tonnes versus 59000 last week when the restitution was 45678 ecus
west german exports to the united states fell below four billion marks worth in january for the first time since mid 1984 provisional bundesbank data showed
wal mart wmt completes acquisition
some experimental harvesting was carried out in santa fe on areas making up only about one pct of the total crop but details on this were not available
shr 15 cts vs 13 cts net 1352000 vs 1210000 revs 5953000 vs 3309000 nine mths shr 36 cts vs 27 cts net 3257000 vs 2416000 revs 166 mln vs 9705000 note if fasb adopts accounting changes then 1987 3rd qtr per share results will be restated to 22 cts and 54 cts a share for 1987 nine mths
it is also considering selling off loss making state companies
cheung kong holdings ltd ckghhk is expecting strong results this year after reporting better than expected profits in 1986 chairman li ka shing said
international broadcasting corp said shareholders at its annual meeting approved a one for 25 reverse stock split
jordan obtains 988 mln dlrs in loans
the ec has come under prolonged attack from geplacea for what the group charges is its continued dumping of excess output on world markets
norway decided on the initial round of cuts following an opec agreement last december which boosted oil prices to around 18 dlrs per barrel from around 14 to 15 dlrs last december
lpl indicated that at closing warrants will be sold which when exercised will reduce its stake in the subsidiary amphenol acquisition co to 60 pct the company said
gillettes stock was at 24 1 8 up 1 8 in morning trade off the high of 45 7 8 reached after revlon announced its bid
financial santa barbara fsb to make purchase
the bank of canada will buy 100 mln dlrs of the new issue including a minimum of 10 mln dlrs of the 2011 maturity
as the dollar fell to a 40 year low against the yen friday currency traders said the fed and other central banks supported the dollar
ford motor credit co a unit of ford motor co is offering in the domestic debt market 100 mln new zealand dlrs of floating rate notes due 1990 said sole manager bear stearns and co
convergent technologies inc said it has reached an agreement in principle to buy oakleaf corp which supplies finance insurance and leasing computers to auto dealers
gulf applied technologies inc said it sold its pipeline and terminal operations units for 122 mln dlrs and will record a gain of 29 mln dlrs in the first quarter
essos chairman stuart mcgill said he hoped esso can assist in maintaining the high rate of oil and gas discoveries in the cooper eromanga area
on tuesday the world bank approved two loans totalling 310 mln dlrs to help the countrys economic recovery program
us sprint was formed july 1 1986 as a partnership which combined united telecommunications long distance voice and data operations with those of gte corp gte earlier united telecommunications reported first quarter earnings of 126 mln dlrs or 13 cts a share compared to 464 mln dlrs or 47 cts a share a year ago
in its quarterly rice outlook and situation summary the department said us rice use may surpass production during the 1986 87 marketing year causing stocks to fall about 10 mln hundredweight from a year earlier to an estimated 67 mln cwt on july 31
zinn and his firm which disclosed they hold a 51 pct stake in crazy eddie common stock said they may acquire more shares through a negotiated merger or tender offer
cyacqs amended offer expires midnight new york time on april three 1987 unless extended
independent bank corp ibcpo 1st qtr net
the strategy for increasing irrigation potential along with greater use of high yielding seed varieites and improvement in fertiliser efficiency is yielding results it said adding total foodgrain output in 1985 86 1984 85 and 1983 84 respectively was 1505 mln tonnes 1455 mln and a record 1524 mln
none of the details contained in todays negotiations was immediately available
eaton vance corp eavn 1st qtr jan 31 net
dealers said the worsening trade relations between the us and japan will continue to depress the dollar
planning chief nikolai talyzin told the supreme soviet industrial output should rise by 45 pct in 1988 up from a planned 44 pct in 1987
the expected drop in prices could result in losses of as much as three billion dlrs in a year producer delegates forecast
general public utilities corp said its three mile island unit ones power output has been cut to 81 pct of reactor power or 730 megawatts of electricity due to mineral deposits on the secondary or non nuclear side of its two steam generators
at the same time yeutter said washington was temporarily suspending a complaint with the general agreement on tariffs and trade gatt that japan was unfairly curbing imports of the two fish
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
other economists said the 08 pct growth registered in oct dec may have been inflated by special factors including exceptionally heavy spending in the public sector
shr 27 cts vs 14 cts net 5664000 vs 2812000 revs 682 mln vs 547 mln avg shrs 21254054 vs 20167714
the index showed a 04 pct drop in january
the paris club accord in turn was part of a broad based rescheduling package covering 77 billion dlrs of mexicos foreign debt
upper peninsula power co upen sets payout
us producer energy prices rise in february
freddie mac adjusts short term discount rates
the study was released earlier today
this product could very well be toughening our trade policy and doing it in a manner that opens markets without this frightening word protectionism ways and means chairman dan rostenkowski an illinois democrat said
the soviet official said that near term corn demand has been met by the recent soviet purchases of us corn which he confirmed at 15 mln tonnes but said that if us corn prices remain competitive the soviets will buy more if they need it
he said doumengs interagra company was preparing proposals for further examination by the soviet union
colombian finance minister cesar gaviria blamed an inflexible us position for the failure of last weeks international coffee organisation ico talks on export quotas
it said american president lines is currently operating at capacity in the pacific and the new ships will arrive in time for the normal demand surge of the spring and summer seasons
the sec is urging the appeals court to reverse the decision citing its nearly 50 year old position that undisclosed excessive mark ups by securities dealers violate the general antifraud provisions of securities laws
the first would limit the current quota system which has protected ec output for seven years only to flat products and heavy sections thereby forcing other types of steel products into free market competition
you can make the case that the deal is not 13 16 pct one banker said
pay date is april 24
tensions in the gulf however usually had a relatively short term impact on prices he added
jw mays inc mayso 4th qtr july 31 net
the company said it was able to declare the dividend due to progress in the cleanup of three mile island unit two
bankers trust co said it has raised its prime lending rate to 7 3 4 pct from 7 1 2 effective immediately
stolte said
westamerica bancorp wab 1st qtr net
searle chairman sheldon gilgore said searles operating loss in 1987 will be less than the 87 mln dlr operating loss in 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
chris craft industries ccn which owns a stake in warner rose 1 1 4 to 22 3 4
the a warrants may be exercised from june 1 1987 to march 30 1990 at 800 francs and the b warrants from june 1 1987 to march 30 1992 at 820 francs
soviet grains seen entering spring on shaky note
over the next two days it expects 4 01 4 02 due 34 34 scheduled to transit 41 39 end day backlog 34 29 average waiting time tomorrow super tankers regular vessels north end 25 hrs 11 hrs south end 24 hrs 31 hrs
some dealers said the dollar may decline in the long term but a drastic fall is unlikely because of us fears of renewed inflation and fears of reduced japanese purchases of us treasury securities needed to finance the us deficit
no other details were available
parent company 1986 net profit 20255 mln francs vs 17131 mln dividend 1302 francs vs same including 434 francs tax credit
new york based bastian technologies corp said it acquired a five pct stake in cosmo communications corp and is considering a move to seek control of the company or to secure a role in its affairs
the drug is marketed in a number of countries and described as a broad based anti viral
holders of hughes would get 08 share of baker for each hughes share
usda estimates farm subsidies will reach 253 billion dlrs in 1987
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
the decline in production in the nine months to end march reflected mainly a sharp dip early in the fiscal year when low oil prices and high marginal excise rates led to a reduction of output from bass strait department figures in its major energy statistics publication show
sama increased the offer price on the 900 mln riyal issue to 9951563 from 9948438
it said the country reached self sufficiency in maize three years ago and harvested a record 530000 tonnes in 1985 compared with only 200000 tonnes 20 years earlier
he said he had no comment on a proposal by house speaker jim wright d texas to tax securities transactions
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
kuwaiti daily says opec credibility at stake
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
chrysler corp said it is escalating its war with automotive parts counterfeiters and will use the service of light signatures inc of los angeles
colombia with a total foreign debt of around 13 billion dlrs has a foreign borrowing programme of around three billion dlrs this year of which about one billion is new credits
shr and net include change in accounting policy resulting in loss of 228 mln dlrs or 116 dlrs share
soviet and us officials normally meet in the summer before the start of a new agreement year to discuss grain quality shipping logistics and production outlooks
nippon steel corp nstct plans to reduce its dividend to three yen in the year ending march 31 1987 from the five yen of 1985 86 a company spokesman said
general acquisition said that if gencorp agrees to accept another buyout proposal that it also be given an opportunity to bid on a competitive and fair basis before any final decision is made
cocoa butter imports rose slightly to 1699 tonnes from 1507 while exports fell slightly to 6211 from 6293 tonnes
treasurys baker says trade current account imbalances simply not sustainable
equatorial in 1985 earned 1807000 dlrs after a 3197000 dlr gain from early debt retirement on revenues of 561 mln dlrs
the mexican secretariat of commerce has told the us that recent implementation of a 10 pct ad valorem tariff for fixed vegetable oils fluid or solid crude refined or purified was not targeted at sunflower oil the us agriculture department said
broadly based m 2 money supply rose 11 pct to 3130 billion dlrs in january after a 16 pct rise in december bringing year on year growth to 121 pct in january against 100 pct in the previous month
in the fiscal year ended march 31 the surplus totalled 9376 billion dlrs or about 45 pct of gnp
the gain was led by the residential construction index while the manufacturing groups continued to improve and the stock market index turned up the federal agency reported
some outstanding debt will be retired
conable says brazil debt moratorium is temporary
property trust of america ptras year net
faygo has revenues in excess of of 100 mln dlrs national beverage said
us banker predicts further dollar fall this year
foreign banks hold almost half the debt
group 1986 net profit 541 mln swiss francs vs
non callable for five years the notes are rated b 1 by moodys and b plus by standard and poors
baker sees lower japanese trade surplus
spartech sptn reverse stock split approved
us officials said this weeks talks are unlikely to delay imposition of tariffs
earlier this month moi told parliament kenya would face a difficult balance of payments situation this year as a result of falling income from coffee exports and a higher oil import bill
tehran in the past had held back a number of vessels kuwait had sought to release through diplomatic contacts it said
gordex said the expansion of the cape spencer facilities is intented to enable it to operate 24 hours a day throughout the year
the companys foreign debt mainly from the japanese and us banks was cut nearly by half to 662 billion taiwan dlrs equivalent in calendar 1986 from 1246 billion in 1985 he said
the statement denied published reports that total job losses would amount to 9000 employees
enel issues 15 billion yen eurobond
more american brands amb acquisitions seen
comparisons are therefore company calculations
forest oil corp foil 4th qtr
kahn said he is considering seeking representation on the trans lux board and starting a proxy contest in connection with the upcoming annual meeting
ecuador is considering measures for dealing with its foreign debt following the earthquake that killed 300 people left 4000 homeless and cost the country close to a billion dollars information minister marco lara told 
bank statistics show the overall 1986 rise in m 1 money supply was 1091 pct with a year end position of 38959 billion dinars
in 1983 the industry drew up a plan envisaging the loss of about 130000 tonnes of annual capacity or about 10 pct of the total
in an earlier round of the case decided in 1984 the supreme court upheld the sias contention that commercial paper is a security for the purposes of th glass steagall act
the study cited two basic policy paths for the nation to protect the us industry through an import fee or other such device or to accept the full economic benefits of cheap oil
a number of us have already put in new money and there are plans for the export market he said
it yields no calories and does not promote tooth decay
ohio edison co oec 3rd qtr net
others have effectively been liquidated
the company has about 21 mln shares outstanding
roach said he expects first quarter us gnp to rise two pct to be followed by a gain of 10 15 pct at best in the second and third quarters
corrected bankamerica negotiating sale of units
china is short of foreign exchange the shanghai official said
shadowfax shfxf sets normal course issuer bid
carburos metalicos of spain has bid 2205 francs a share for french chemicals group duffour et igon rivalling the 2100 franc bid announced yesterday by union carbide france the french subsidiary of the us chemical giant union carbide corp ukn the stockbrokers assocation csac said here
atlantic financial atlfo to acquire s and l
a special meeting between importing and exporting countries ended in a deadlock late yesterday after eight days of talks over how to set quotas
the banks were agonizing how to reconcile this package with venezuelas
we dont seen this as any progressive bidding game he told reporters at a news conference
also key to debt futures direction in addition to the federal funds rate is the direction of crude oil prices said carroll mcentee and mcginley futures analyst brian singer
the bank of england said the issue was no longer operating as a tap
the governments net financing requirement was 110 pct of gnp in 1986
the countrys oil import bill however fell 23 pct in the first quarter due to lower oil prices
this brings the bank total help so far today to some 87 mln stg and compares with its latest forecast of a 250 mln stg shortage in the system today
chevron usa with more than 15000 chevron and gulf outlets nationwide predicted all of its independent dealers will elect to honor the cards
the central bank purchased bills in band one at 9 7 8 pct comprising 267 mln stg bank bills four mln stg local authority bills and one mln stg treasury bills
noranda begins salvage operations at murdochville
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
accordingly i hereby resign as a director of purolator courier corp effective immediately he said
cyclops corp said the three members of its board appointed last week by dixons group plc had resigned and that it named three cyclops executives to replace them
a one billion dlr lawsuit pushed hughes tool co into an about face on its rejection of a proposed merger with baker international corp bko wall street analysts said
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
he said the well had an initial flow of 150000 cubic meters of gas and 220 barrels of oil per day
the communique said the ministers and governors reaffirmed the commitment to the cooperative approach agreed at the recent paris meeting
he said he intends to further extend the offer if the approval process is not completed by the expiration date
these were net profit 301 mln guilders vs 312 mln
shr loss 26 cts vs profit eight cts net loss 28 mln vs profit 897000 revs 270 mln vs 300 mln nine months shr loss 51 cts vs profit 46 cts net loss 54 mln vs profit 49 mln revs 884 mln vs 998 mln
lets wait and see how the offer runs another official declined to speculate under what circumstances bp might raise its bid
the fluidized bed facility would have provided heat and electricity for the oil shale project unocal said
qtly div six cts vs six cts prior pay march 31 record march 20
the quarterly session of the international tin council itc continued without formal agreement on an extension of the sixth international tin agreement ita but delegates said it was apparent there was a general consensus the agreement should be prolonged
vista said sales for the year are expected to be comparable to fiscal 1986s 5501 mln dlrs
he urged a wholesale reorganization of bank personnel
this would help achieve lawsons lower than expected consumer price inflation target of four pct at end 1987 he said
press reports in minneapolis newspapers this morning quoted several legislators as saying they were inclined to support legislation that would help dayton hudson according to a governors spokesperson
the opec president praised non opec oil producers which he said had contributed to the groups efforts to stabilise prices but he criticised britain for maintaining its long held view not to do anything to help the market
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
one money market dealer for a major foreign bank said i dont think the bundesbank wants rates to go up whatever happens
the bonds also carry the right for the issuer to redeem them after two years if the share price is above 130 pct of the conversion price for more than 30 days
gabelli is an investment firm headquartered in new york city
qtrly 25 cts vs 16 cts pay march 30 record march 13 note prior qtr is for two months operation october and november and represents a parital dividend
recent us oil demand up 23 pct from year ago
in its filings with the sec twa said it paid 1782 mln dlrs for its usair stock
for the 12 months ended 31 march 1986 cleveland had 479000 dlrs in pretax profits and forecasts one mln for 1987
us says canadian israeli pacts should spur trade
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
metro funding corp said its shareholders approved its merger into maxcom corp and its change of incorporation from nevada to delaware
it is not clear however whether all consuming countries will follow suit as a number of them in particular britain west germany and belgium appeared to have strong reservations the sources added
white house spokesman marlin fitzwater told reporters late last week that the administration still did not like some of the bills provisions but he added generally we feel very good about the bipartisan consideration of the trade legislation
amstutz is expected to tell the committee that there are uncertainties in determining the cost of certificates compared to cash outlays and that savings to the commodity credit corp ccc almost equal costs department sources said
cooper canada ltd said it has received takeover offers from a number of companies the company also said that discussions are continuing but no definitive arrangements have been made it gave no further details
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
imf approves 48 mln dlr loan to assist ecuador
that is 73 basis points more than the yield of comparable treasury securities
numerous factors said point to ussr corn buying
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
several analysts said the purchase would not have given fujitsu access to critical defence technology
finnair to buy two mcdonnell douglas aircrafts
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
the department is required by law to wait 48 hours after the initial trade report to issue a second report on a customs value basis which eliminates the freight and insurance charges from the cost of imports
the chemical unit last year had revenues of 19 billion dlrs
southern national corp snat sets stock split
the acquisition is subject to the approval of its shareholders
us supply demand highlights
first it is a blow for realism
but i dont see that as a likely scenario pulcine said
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
the measure confirmed by a brokerage firm here has effectively cut off all foreign participation in venezuelas volatile currency market
prior nine mths net includes pretax gain on sale of marketable securities of 493000 dlrs
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
the february figure represents a decline of 02 pct compared with february 1986 after a year on year decline in january 1987 of 17 pct
xyvision inc xyvio 2nd qtr september 26
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 company did not immediately disclose the actual new prices
s and p upgraded the units wycon chemical corp and anr finance nv bv wycon chemicals industrial revenue bonds guaranteed by the parent were raised to bb minus from b plus
baker sees 15 to 20 billion dlr drop in trade gap
current half net includes gain 2041000 dlrs pretax from termination of pension plan
att now faces a period of comment in which a number of companies will be able to respond to the proposals in fcc hearings
a group of fidelity companies owns eight pct of purolator and gardner said he personally owns 20000 shares
brazils leading political party has expressed full support to president jose sarneys decision suspending interest payment of 68 billion dollars owed to private foreign banks
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
abu dhabis offshore abu al bukhoosh oilfield in the gulf shut since an aerial attack last november will reopen when new anti aircraft defences are ready and this could be in the next two months oil industry sources said
continental grain co of new york received the first 30000 tonne cargo contract priced at 9386 us dlrs per tonne while peavey co of minneapolis won the second shipment also 30000 tonnes at 9336 dlrs per tonne
dow jones and co inc dj 1st qtr net
us 1987 cotton sorghum acres estimated all cotton 10353700 sorghum 11844000 usda
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 company named lazard freres and co as lead underwriter of the offerings
aidc issues australian dollar zero coupon eurobond
shr profit three cts vs profit 31 cts net profit 330 575 vs profit 1473100 revs 1501996 vs 2602568 avg shrs 10964786 vs 4446958 year shr loss eight cts vs profit six cts net loss 91523 vs profit 746289 revs 3854821 vs 5231598 avg shrs 6091334 vs 4446958 note share results after preferred dividend requirements of 44174 dlrs vs 99901 dlrs in quarter and 377111 dlrs vs 480851 dlrs in year company 40 pct owned by painwebber group inc pwj
since prices are below the may buy level of 1655 special drawing rights a tonne set in the cocoa pact the manager is likely to buy cocoa sooon to support the market they said
carling okeefe ckb sells oil unit takes gain
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
the commodity credit corporation has approved an additional 450 mln dlrs under its interemdiate export credit guarantee program gsm 103 for sales of us wheat to morocco the us agriculture department said
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
french february year on year inflation 34 pct vs three pct january official
earlier shell uk a subsidiary of royal dutch shell group rdas reported an overall net profit of 757 mln stg up from 667 mln in 1985 on sales of 657 billion stg against 881 mln
voplex corp vot 1st qtr mar 31
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
the put option after seven years was priced at 120 pct to give the investor a yield to the put of 753 pct
of the 13 billion dlr frozen debt 35 billion dlrs was owed by the public sector and 95 billion dlrs by private industry du plessis said
crazy eddie crzy sets defensive rights
the bank said the project will benefit small and medium sized industries primarily in yugoslavias republic of slovenia
despite these concerns refiners are expecting margins to move higher in the next few months
washington was stunned by the sudden wall street retreat with president reagan speaking for most people by admitting that he was puzzled us government sources said the secretary immediately returned to the treasury to be briefed on market developments and presumably their political impact
if this goes on for more than a few days it will have a serious effect because normal financial operations will grind to a halt said a western diplomat in sao paulo
house ways and means committee chairman dan rostenkowski said congress must avoid a temptation to pass a protectionist trade bill this year
measured per car each american made car contained about 700 dlrs in japanese auto parts while each japanese made car contained about 26 dlrs in us auto parts smart said
an amsterdam bourse listing will be requested for the bonds
there appears to be no way to project the course of el nino only time will tell the report said
there are signs the brazilian situation and a reluctance by commercial banks to join in new cash loans even for debtors following substantial reforms has concerned us officials
analysts questioned this explanation however arguing that the companies did not need government approval to complete the transaction
the company said it will vigorously defend the litigation arising from the discontinued units
doe secretary proposes oil tax incentives
the loan guaranteed by the government is for 15 years including three years of grace at a variable interest rate currently 792 pct the bank said
furthermore no extraordinary meeting of the conference is at the moment contemplated since most agreements reached in december are being adhered to he said
under the terms of the letter of intent chrysler will purchase renaults stake held in the form of bonds and shares
the most recent public authority loan stock issue for the state road building fund fonds des routes was also for eight years with an eight pct coupon
texas planted 10 pct compared with an average of eight pct
months used currently for the indicator are may july and september but these are set to change to july september and december on april 15 prior to may becoming the new york spot month traders noted
some of the industrys biggest companies such as exxon corp xon mobil corp mob and union texas petroleum have already indicated plans to increase spending for drilling later this year in the gulf of mexico crandall said
when congress drastically changes laws confusion results and tax preparers benefit bloch said
called measurement auditors co the partnership provides flowmeter certification and testing services to the oil and gas industry engineering measurements said
the bank rarely invites applications for ordinary assistance on a saturday and the sources said it was more likely to open its special borrowing facility again
in the first nine months of this year industrial output rose by 36 pct
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
the company said the system being purchased serves about 12000 subscribers in the towns of compton south el monte hawaiian gardens and the communities of willowbrook athens firestone florence and east compton
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 
but he added the possibility remained the deal would fall through
exports increased by only 73 billion dlrs or three pct to 2218 billion dlrs
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
the exchange said there were nil bags pending classification
it would profit from rechannelling its huge trade surplus into third world economies notably those in south america china and india that are likely to expand faster than those in the developed world he said
further talks will be held this morning at cargill uk ltds oilseed processing plant at seaforth after yesterdays meeting between management and unions failed to produce a solution to end the three month old strike a company spokesman said
period ended april 30 shr profit nil vs loss eight cts net profit 4000 vs loss 213000 sales 3668000 vs 2602000 year shr loss 18 cts vs loss 23 cts net loss 482000 vs loss 614000 sales 125 mln vs 136 mln note 1987 earnings in each period include a provision for unrealized loss on marketable securities of 176000 dlrs
in a statement janos said core earnings are expected to average 15 mln dlrs per quarter or six mln dlrs for the year while sales of real estate joint ventures will add another five mln during the year
national heritage inc said it acquired the assets of chartham management corp of salem ore
the current account balance of payments deficit is expected to be still around a high 125 billion dlrs next year after hitting a projected record 14725 billion this year it said
it said the plant will be built on a geothermal site at china lake calif on property leased from the federal government
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
each 2000 franc bond carries three warrants each of which allows the purchase of one certificate of a nominal 100 francs at a price of 600 francs from june 1 1987 until november 30 1990
they are going to cut their estimate said bob tate an fcoj broker with dean witter reynolds in miami
managers of the offering have not been selected
elcor corp elk 3rd qtr march 31
yamamoto said that japan will slash output of 256 kilobit dynamic random access and erasable programmable read only memory chips by 11 pct in the second quarter
weve had no conversations with them usa today reported that archer daniels midland might be seeking a hostile takeover of international minerals
in a filing with the securities and exchange commission sosnoff a new york investor and money manager said the offers to buy back his stock occurred on several occasions during the past year the offers were made by several caesars world representatives including its chairman henry gluck he said
honeywell bull is seeking a 400 mln dlr five year multi option facility arranger banque nationale de paris said
new york based upland is traded over the counter
dominion resources inc d 1st qtr net
mthly div 14248 cts vs 4912 cts prior pay april 10 record march 31
genetics geni wellcome name site for venture
the num was not immediately available for comment on the action
ussr wheat imports were projected at 15 mln tonnes up one mln from last months estimate and 700000 tonnes below the preliminary 1985 86 figure
ore output will be cut but the higher grades will keep contained copper output at current levels of about 24000 tonnes a year it said
shr two cts vs six cts net 43295 vs 147724 revs 3787507 vs 4000019
public service co of colorado psr in payout
bower industries inc 1st qtr net
noting that such a huge rise in credit extended by banks would under other circumstances have prompted market fears of a rise in clearing bank base rates from the current 10 pct with the financial markets doing what theyre doing thats the last thing the bank of england would want to do spencer said
plantronics inc plx 3rd qtr march 28 net
in a filing with the securities and exchange commission chavin said he bought 53500 myers common shares between march 10 and 31 at prices ranging from 5 1 2 to six dlrs a share
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
in the fiscal year ended may 30 1986 avery reported a loss of 489000 dlrs
however it proposes issuing new equity in a subsidiary that would operate dome assets
arab heavy dropped 10 cts to 1663 dlrs a barrel and dubai was off 12 cts to 1809 dlrs
shv united kingdom holding co ltd said it was making a tender offer for up to 33 mln ordinary shares in imperial continental gas association
members of geodynes senior management also serve as senior management at snyder and painewebber group inc pwj which owns 40 pct of geodynes 126 mln outstanding shares has a substantial equity interest in snyder
it sees cattle numbers remaining at around the 1986 level of 232 mln beasts in both years because herd rebuilding is expected to be slower than previously forecast
nigers structural adjustment program supported by a 60 mln dlr ida loan and a 20 mln dlr african facility loan hopes to aid public spending controls support pricing reforms and encourage private sector competition the bank said
weekend rain over the western corn belt brought further relief to crop areas that had been dry earlier this month and developing weather patterns will bring welcome moisture to central and eastern belt locations this week according to dale mohler senior meteorologist for accu weather inc
as envisioned by heller a basket of say 30 major commodities ranging from wheat to oil would be put together and prices would be measured on a regular basis
about 23 billion dlrs of debt is affected
if the acquisition is consummated ambassador said it agreed to contribute 250000 dlrs to the existing capital of heritage
fed data indicate no policy change likely
there will also be an investor put option annually at par
the only real production restraint in opec is saudi arabia said sanford margoshes analyst at shearson lehman brothers
warner voiced concern that the soviet union might use the situation in the gulf to raise its presence
canadian imperial sees lower loan losses
the reserves now total more than 51 billion us dlrs
pico products inc ppi 2nd qtr jan 31
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
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
he said money market rates were too high to arrange both the mortgages and hedge profitably
the buffer stock theoretically has funds to buy a maximum 100000 tonnes within a five week period but its approach will be more cautious buffer stock manager juergen plambeck said
in an exclusive interview with lyng said he did not know if the united states will offer moscow another wheat subsidy offer this year or when that offer will be made
obrien energy obs sells convertible debt
tmoc shares today closed five cents up at 415 dlrs on turnover of 182000 shares while santos due to release its profit result today rose eight cents to 450 dlrs on volume of 245000 shares
oper shr 16 cts vs 34 cts oper net 4255000 vs 9299000 revs 2944 mln vs 1557 mln nine mths oper shr 124 dlrs vs 106 dlrs oper net 330 mln vs 288 mln revs 7405 mln vs 4575 mln note 1987 results include restructuring and non recurring charge of 89 cts a share to restructure chemlawn acquired in april 1987 and other recent acquisitions
bond corp international ltd nine mos to dec 31
lead values on the lme today were unchanged around 299 stg per tonne for three months delivery after thin business in a one stg range
western bankers say the forint is more realistically valued than currencies of hungarys comecon allies
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
bankamerica bac to post gain on unit sale
the bank said its bad debt losses should begin to decline this year although it may take some time before they return to accepted industry norms the annual report showed that the banks charge for bad and doubtful debts rose in 1986 to 1876 mln rand from 1621 mln rand in the prior year
while bank shareholders have enjoyed dabbling in broking during australias record two and a half year bull run they could find themselves without the expertise they need during more difficult times some brokers said
commenting on the move bzw chairman sir martin jacombe said while international deregulation had turned london new york and tokyo into pivotal points for trading across time zones firms like bzw that seek to serve the world wide financial community must have a presence in europe not just in the uk bzw currently employs some 2000 staff in its offices in britain hong kong tokyo new york and sydney
imported passenger car light commercial and heavy vehicle sales suffered while local manufacturing profitability was eroded by sales substantially below production capacity it said
it can transfer bad loans under the terms of the 1984 restructuring agreement with the government
johannesburg stock exchange president tony norton speaking yesterday before the debt agreement said the economy was in bad shape and there was an awful lot of talk but little action to cure serious problems
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
trotter treadmills makes motorized treadmills for the exercise enthusiast and fitness club market
the department said it was the largest monthly sales drop on record
the commission believes that hostile reactions to the proposed tax have for the most part been based on incomplete or an insufficiently thorough analysis of the proposal he said
the company has also reduced costs through some staff cutting and a switch to profit sharing plans for sales staff instead of straight commissions shattner said
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
danish reserves rise in february
iran having vowed to react strongly after mondays us action launched a barrage of threats and ridicule
ente nazionale per lenergia elettrica issued a 15 billion yen bond due 1994 at 4 3 4 pct and priced at 101 7 8 pct
he also said japan has not received any specific request from the us on its monetary policy although its short term money rates have been edging higher
in the 1985 86 financial year pre tax profit rose to 181 billion stg from 148 billion
panteras corp said it closed on its agreement to acquire ten pizza restaurant locations in southeastern colorado
the province produces 23 pct of cubas beef and is the islands number two province in milk production
dixons retains one mln woolworth shares a dixons spokesman added
cash flow from its low growth tobacco but the tobacco business does require great amounts of capital expenditures
cpc international cpc to sell asian stakes
perkin elmer pkn acquires high tech firm
instead of banding together the individual cooperatives are forced to go their own ways said the floor manager of one cash house at the chicago board of trade
the us benchmark crude west texas intermediate was trading today around 1860 dlrs per barrel
revision would be decided by a majority vote of the icco council
there is a 3 16 pct management fee and an unspecified but very small commitment fee
the refinery had been closed due to a change of ownership the company said
mcdonalds corp rose sharply today after receiving a second recommendation in as many sessions traders said
treasurys baker pursuing s
the uk high court dismissed an appeal by rio tinto zinc corp plcs rtzll rtz oil and gas ltd unit and ruled that the financial provisions a company makes for the future cost of abandoning an oil field are not tax deductible the press association reported
brazil is faced with a poor 1986 87 sugar harvest which could limit exports to the world market analysts said
1987 net both periods includes 3700000 dlr addition to loan loss reserves due mostly to one out of state real estate transaction
it is not always easy to meet the basic requirement that the trade should always be balanced one trade source said
bond international a subsidiary of the australia based bond corp holdings ltd bonas will receive net profits of about 16 mln dlrs from the deal
the bonus was awarded to the pillsbury company and will be paid in the form of commodities from ccc stocks
this tranche is non callable to maturity
net financial and operating profit 111 billion vs 8251 mln
we welcome the flexibility evident in the reserve banks move to raise the system cash target yesterday but feel that to reduce the present nervousness the cash target and primary liquidity level need to be raised further he said
allied lyons won control of hiram walker gooderham last year in a battle against gulf canada corp which finally got a 49 pct stake after an out of court settlement
fmha could lose seven billion dlrs in loans
the overnight rate however fell to 3 1 2 to three pct from 4 1 2 to four because of increased liquidity for a local stock issue
base lending indicator rates of the other three trading banks range between 210 pct and 215 pct
guyana hopes to overcome its financial problems within three to five years and is now seeking help from donor governments finance minister carl greenidge said
the 20 member committee agreed to open debate on the us complaint starting with informal consultations and then holding a special session in july trade officials said
inventories have steadily declined with supply and demand in better balance but overcapacity continues cra said
petroles de venezuela also signed a 25 year agreement to supply at least 140000 bpd of venezulean crude oil and naphtha to the refinery at market related prices
the importance of complementary changes in economic fundamentals was underlined yesterday when a change in interest rates boosted the dollar instantly achieving what the central banks had tried in vain to do for a week through open market intervention
ericsson said the contract covers 2000 terminals which will be used by west german post offices
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
the pipeline contruction is the second phase of the peninsular gas utilisation project by petronas malaysias national oil company
morgan stanley and co will act as financial advsiors for the groups divestitures
but theyve been bailing out this week because the march has been acting like there will be a lot delivered if not tomorrow then later in the month he added
but the osaka stock exchange plans to start futures trading in a basket of leading stocks in april
pzena said he thought the company was selling the stake because chemical margins had peaked and he speculated the company would use the proceeds to pay down debt
on the other hand major long term investors such as japanese insurance companies are not very enthusiastic about buying british securities ahead of the march 31 close of the japanese financial year traders said
commenting on its camco inc oil service subsidiary pearson said it believes the oil business setback is only temporary
uk australia offer wheat to bangladesh
madagascar coffee production seen lower in 1987
shr 70 cts vs 491 dlrs net 37 mln vs 263 mln year shr 199 dlrs vs 335 dlrs net 107 mln vs 180 mln note1986 year 4th qtr include capital gains of 35 mln dlrs and 11 mln dlrs respectively and extraordinary gain of 34 mln dlrs and 12 mln dlrs respectively
japanese banks plan joint firm to avoid debt risk
south australia agency issues zero coupon bond
however the securities and exchange commission last friday pressed dixons to reopen the offer because the uk based company had dropped a condition that at least 80 pct of cyclops stock be tendered by the close of the offer
payment date is march 30
usair group inc said the us department of transportations office of public counsel has urged that expedited non hearing procedures be used in its proposed acquisition of piedmont aviation inc pie the company said that america west airlines inc awalo was the only party voicing opposition to the acquisition
gross domestic product gdp growth in 1987 is expected to grow by between 15 and two pct up from one pct in 1986 the central bank said
it suspended interest payments in january on 54 billion dlrs owed to about 400 private foreign banks
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
1986 results include the effect of a stock offering resulting in the issuance of an additional 862500 shares of common stock
eksportfinans launches eurobond
it said the distribution will be payable may 14 record january 1
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
gold holdings totalled 35243 billion lire at end may unchanged from end april
february 1986 production was 378600 tonnes
canada outlines gatt agricultural reform plan
french machinery maker poclain 40 pct owned by tenneco inc said it will raise its capital to 791 mln francs from 91 mln by a 100 for 13 rights offering to shareholders priced at par of 10 francs a share
we need a truly free trade agreement which means both countries have to work toward a deal that is mutually beneficial and comprehensive a large agreement the texas democrat said in a statement
peoples telephone co the third largest private pay phone firm in the us said it signed an exclusive five year 25 mln dlr contract with the southland corp
the iwc raised the 1986 87 coarse grain trade figure two mln to 87 mln tonnes
the reserves could support imports of more than two years for taiwan compared with about three months for japan and the us
eib 300 mln guilder bullet bond priced at par
fees comprise 1 1 2 pct selling concession and 1 2 pct management and underwriting combined
although the saudi arabian monetary agency sama has been tightening supervision there is still no standardised rule for declaring loans as non performing
kleinwort said the kingdom will face an increasingly uphill task in trying to maintain prices around 18 dlrs beyond 1987
silver futures previously limited at 50 cents in most back months were trading about 30 40 cts weaker in the nearby contracts amid quiet trading today
a dayton hudson spokeswoman would not identify the buyer but wall street sources said dart group corp dartao was the company interested in buying dayton hudson stock
fcs laboratories fcsi ends merger talks
the 100 mln dlrs of 26 week notes went at an average 15414 from 15790 last week
tokyo had a 59 billion dlr surplus with the united states last year and had large surpluses with other countries
the indices stood at 1153 1144 and 1110 respectively
safety kleen sk completes acquisition
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
he said some streamlining of the lending process may be needed but added i see no alterantive to the present course of responsible cooperation a major theme at the conference however was that the world economy might not continue to cooperate while the debtors and creditors muddle along
hecla said initial production from a trackless underground mine is scheduled for late 1988 at a rate of about 1000 tons or ore per day
jefferies making market in usair u 
shr not given net profit 1033000 vs loss 4346000 sales 6060000 vs 5818000 note company operating in chapter 11 bankruptcy
ecuador adopts austerity measures after quake
the automakers march us jeep output was 21390 up from 16215 in the same month last year
eldorado bancorp said its board declared a 10 pct stock dividend payable april 17 to shareholders of record april three
among the main factors affecting liquidity bills maturing in official hands and the take up of treasury bills will drain some 505 mln stg while bills for repurchase by the market will remove around 194 mln
gaf corp offers 36 dlrs a share cash for borg warner
on december four calny rejected as inadequate an investor group led by former president and chairman robert a
this should yield about 125 mln tonnes of whites
if they decide to exercise their right to buy it would mean really squeezing the market one new york trader said noting that aluminum stocks on the london metal exchange were 90500 tonnes at the end of last week
the daily average reserve holdings were above the level of around 51 billion marks dealers said is needed for the required daily average for the month
it is payable june eight record may 21
partners on the field are statoil the operator with a 55 pct share unocal norge a s 18 pct deminex norge a s 135 pct norsk hydro a s nhyol nine pct and svenska petroleum ab 45 pct
pioneer sugar says csr takeover offer too low
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
economic growth remains sluggish but silfer does not think that the federal open market committee changed policy at their meeting this week
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
ef hutton lbo inc is still interested in an acquisition of purolator courier corp and is examining the possibility of raising its 35 dlr per share offer an ef hutton spokesman said
clearly those countries need to develop their export endeavours and they need open markets for that to happen and thats the basic objective of the new gatt round he said
takeover speculation lifts hutton efh shares
the first national bank of boston the main banking unit of bank of boston said it is raising its prime lending rate to 775 pct from 750 pct effective immediately
clifford g
aztec manufacturing co aztc 4th qtr loss
its dissolution will force us to change our way of doing business were sorry to see the co op go by the wayside he said
overseas owns and operates 67 vessels
a spokesman said the company is considering the sale or spinoff of the 91 company owned additional restaurants which are profitable
in 1987 foreign economic growth is expected to remain close to 26 pct the same as in 1986 but above the 24 pct average of 1980 86 it said
zaires medium and long term public debt in the past few years reached an equivalent of about 100 pct of its gross national product gnp one of the highest such ratios in the world banking sources said
sumita also said he did not see the recent dollar drop as anything like a free fall
as a result of the agreement the court removed a previous temporary restraining order against twa the company said
proceeds will be used to redeem after june one all outstanding shares of the companys cumulative preferred stock four dlr series redeem certain outstanding long term indebtedness and repay outstanding short term indebtedness
holiday corp said it would redeem on march 11 all outstanding 9 1 2 pct first mortgage bonds due 1995 of its holiday inns inc unit and all 9 1 2 pct first mortgage bonds series a due 1996 of its harrahs subsidiary
mexico warns of worsening third world debt woes
the woodbridge nj supermarket operator of over 180 supermarkets and other specialty retail stores convenience food stores and drug stores
corrects to show nippons affiliate koba buying stake in lifetime
employment in the non manufacturing sector will continue to increase the institute said without giving figures
internal demand rose and the export situation improved in particular toward the european community ec the bank said
nationwide cellular service inc said it has completed the previously announced acquisition of privately held nova cellular co a chicago reseller of mobile telephone service with 1800 subscribers for about 65000 common shares
first boston salomon brothers and shearson lehman co managed the deal
the deal is subject to approval by allis chalmers annual meeting company officials said
pan huashan an official of the agricultural department of zhejiang province said rural industry also subsidises grain output in his province
cts corp and dynamics corp of america reached an agreement resolving all outstanding differences between them according to a joint statment
shr 69 cts vs six cts net 421306 vs 44132 revs 3721178 vs 3125935 note current qtr net includes a gain of 281000 dlrs mostly from the sale of securities and property
the february rise brought the increase in consumer prices since the introduction of the anti inflation cruzado plan a year ago to 625 pct
ico coffee producers to discuss market situation
there also is a 1 8 pct praecipuum
chrysler will also make a further payment to renault of up to 350 mln dlrs depending on amerian motors future performance scranton said
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
megavest to acquire computer trade development
dura a supplier of automotive equipment had annual sales of over 100 mln dlrs
shr nine cts vs 22 cts net 700000 vs 2200000 revs 5400000 vs 5700000 avg shrs 7589344 vs 101 mln 12 mths shr 43 cts net 3500000 revs 216 mln note 12 mth figures not available for 1985 since company started operations march 31 1985
most trees are in some stage of bloom development with petal drop already taking place in many south florida groves
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
the fed has confidence in the aggregates when theyre all sending the same signal
exports in 1985 86 at 1241 vs 1241 last month
hecla mining co said it agreed to buy a 28 pct stake in the greens creek joint venture from amselco minerals inc a unit of british petroleum plcs bp bp north america inc unit
was 13288 billion pesos at the end of december 1985
us commerce secretary malcolm baldrige has asked the white house to consider blocking the sale of fairchild semiconductor corp to japans fujitsu ltd itsut us officials said yesterday
gateway sporting goods co said it acquired all of the shares of stock of innovative dental services inc for an undisclosed amount of cash
helene curtis industries inc hc 1st qtr net
pw administers the russian compensation fund which was set up by the foreign office in 1917 to oversee some 45 mln stg in pre revolutionary reserves for claimants of assets seized during the revolution
zimbabwe maize harvest lower after bumper crops harare march 3 zimbabwes maize crop in 1986 87 april march is likely to be slightly over 16 mln tonnes against 183 mln in 1985 86 grain marketing board figures show
s and p said there are uncertain returns on such a large investment for ecolab as well as increased credit risk with debt leverage rising to more than 60 pct from 25 pct currently
the debentures have a 9 1 8 pct coupon and were priced at 9975 to yield 146 basis points over comparable treasury bonds
normally the expenses would be amortized over the remaining period of the loans to which they apply it said
western mining corp holdings ltd wmngs wmc said it sold its entire holding of 2213 mln shares in the gold mining company australian consolidated minerals ltd acm wmc gave no details but stockbrokers said the sale was made at eight dlrs a share on friday to a number of us european and australian investors through wmcs usual brokers
outokumpu group had a 1986 loss before appropriations and taxes of 83 mln markka after a profit of 355 mln in 1985
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
final terms will be fixed on april 14 and the issue is guaranteed by daiwa bank ltd
a portion of the new shares will be issued to holders of 575 mln dlrs of subordinated debentures all of which are in default
the sources said a south african delegation led by chief debt negotiator chris stals director general of finance was completing meetings in london today with foreign creditor banks
it would be disbursed over three years he added
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
oper shr 17 cts vs 19 cts oper net 636000 vs 358000 revs 106 mln vs 7024000 avg shrs 3808000 vs 1924000 year oper shr 73 cts vs 65 cts oper net 2467000 vs 1199000 revs 315 mln vs 229 mln avg shrs 3372000 vs 1785000 note net excludes investment gains 20000 dlrs vs 86000 dlrs in quarter and 586000 dlrs vs 195000 dlrs in year
perception technology pcep to take charge
the seasonally adjusted male unemployment rate in may rose to a record 32 pct surpassing the previous record 30 pct set in july 1986
lead managers have occasionally abandoned efforts to support an unprofitable issue just a short while after it has been offered leaving investors and smaller firms with no one to buy it back from them
itoh and co
in 1986 us oil imports rose to 33 pct of us energy requirements and shopuld be about 34 pct in 1987 he added
pri pri to buy shell rd hawaii gas stations
fed adds reserves via customer repurchases
nazer said opec estimated demand for its oil during third quarter this year would be around 166 mln bpd
a cash alternative of 29055p will be made available
canbra foods ltd year net
a large dutch animal feed compounder will begin formal legal proceedings early next month as a test case on the way the ec grain co responsibility levy is applied a spokesman for dutch grain and feed trade association het comite told 
if a further appreciation of the dollar was to be prevented the us current account deficit could be offset by an inflow of foreign funds into the us but only if there was an appropriate interest rate differential would europe and japan look for financial investment in the us when selecting monetary policy instruments a central bank had to pay greater heed than in the past to the impact its measures might have on expectations and consequent decisions
although the pc retailers are benefitting from the strong upturn in pc sales analysts said computerland must make key changes if it is to fend off advances from rivals like businessland inc buslo and tandy corps tan radio shack stores
anchor financial corp said it has agreed to acquire waccamaw state bank of surfside beach sc in an exchange of 1435 anchor shares for each waccamaw share subject to regulatory and shareholder approvals
however she noted that most of the southern grain belt had ample snow cover which should have well insulated the majority of crop areas from severe frost damage
the world bank said it approved four loans to jamaica totalling 104 mln dlrs to assist that country with an economic structural adjustment program a sugar industry rehabilitation scheme and a population and health project
under terms of the sale agreement which was announced on september 15 ferruzzi acquired all the equity in central soya and assumed subordinated term debt of about 195 mln dlrs in a transaction valued at about 370 mln dlrs
bankers said the bundesbank was angered by the way the finance ministry announced the plan without consulting the bundesbank adequately and allowing apparently conflicting details to dribble out into an unprepared and uncertain market
for the first five months of 1987 the overall balance of payments showed a surplus of 299 billion lire against a deficit of 2854 billion in the corresponding 1986 period
despite existing import quotas and tariffs imports of textiles grew 26 pct in 1986 and imports of apparel grew 14 pct while us production rose only 19 pct
the american consumer has little reason to feel confident about the safety of meat and poultry being offered to him today said rodney leonard executive director of the community nutrition institute
this official said there was not a significant amount of pressure being exerted by lawmakers on lyng to make an eep offer to moscow
venezuelas oil industry previously sold its dollar earnings to the government at 750 to the dollar but bought foreign exchange from its imports at 1450 bolivars
conger said a three pct change in gold prices represents a 12 cts a share impact on earnings but he declined to give a specific forecast for 1987s first quarter due to be released in 10 days or for full year 1987 results
the bundesbanks options for west germany monetary policy are limited for the foreseeable future by the delicate stage of wage negotiations between unions and employers economists and money market dealers said
he and other analysts said chancellor of the exchequer nigel lawson was keen to see mortgage rates fall to keep a lid on uk inflation
ecuadorean president leon febres cordero said his country was unilaterally suspending payments to private foreign banks due to last weeks earthquake which caused up to one billion dollars in damage
norsk hydro operator of the oseberg field said test output at the field from the mobile production ship petro jarl totalled 1719 bpd last month down sharply from 16170 bpd in august
most cited narrower spreads between the prime and funding costs as justification
currency dealers have speculated that japan and west germany might come under pressure at next weeks venice summit to cut interest rates to boost their economies
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
lawson said in a television interview that he did not regard the pounds present exchange rate was uncomfortably high
however they noted that it was not a major move
year to december 31 1986 shr 7891p vs 8305p div 165p making 235p vs 22p pretax profit 6017 mln stg vs 6144 mln net attributable profit 245 mln stg vs 257 mln turnover 334 billion stg vs 309 billion note accounts have been restated full name of company is rio tinto zinc corp plc rtzll group operating profit 5294 mln stg vs 4707 mln operating costs 281 billion stg 263 billion share of profit less losses of related companies 1044 mln stg vs 1650 mln interest receivable other income 415 mln stg vs 474 mln interest payable 736 mln stg vs 687 mln tax 2748 mln stg vs 2771 mln leaving 3269 mln stg vs 3373 mln rtz investment in australian associate cra has been equity accounted for 1986 and 1985 figures restated on the same basis after the reduction of rtzs interest to 49 pct in october 1986
shearson is dealer manager of the general partners offer for gencorp
the company said the sale was part of a previously announced restructuring program to allow it to focus on certain core businesses and generate cash to cut debt
shr profit 16 cts vs loss 140 dlrs net profit 3000000 vs loss 6570000 revs 917 mln vs 669 mln avg shrs 19078072 vs 4708896 note current year net includes nine mln dlr net gain from settlement of litigation
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
harry mullikin chairman and chief executive of uals westin hotel unit has been elected to the additional post of chairman and chief executive of hilton international
baker however said the imf needs to move beyond macroeconomic indicators and find structural indicators that can help focus attention on some of the policies of specific relevance to the imbalances we face today the treasury secretary said that indicators should be given a more prominent role in the annual economic reviews article iv consultations that the fund performs
in 1990 the communitys standstill agreements with spain and portugal end and the ec would then feel the full impact of its enlargement
ball corp said it was unable to complete negotiations to acquire the plastic container business of monsanto co
they expressed some hope that the operators would not eventually go through with their plan for intervention sales
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 governments liberal industrial policy has attracted investment commitments totalling 250 mln dlrs he said foodgrain output is estimated at 164 mln tonnes this year up from 1612 mln in 1985 86 and 144 mln in 1981 82
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
grounded british bauxite vessel refloated in orinoco
italian consumer prices rise 04 pct in march
ceasars world caw studying sosnoff offer
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
community sources said after a meeting of trade officials yesterday that the group might impose steep new tariffs on a range of japanese goods to prevent diversion from united states markets if washington imposes trade sanctions against tokyo as it has threatened
i would not be surprised if the bundesbank cuts the amount a little to say 14 or 15 billion marks one dealer said
arab heavy term crude supplies to japan up in july
a transworld airlines inc official said the airline has no comment on usair group incs planned buyout of piedmont aviation inc
there was also no projection for oil revenue
macdonald told reporters the group planned to expand through acquisition and internal growth
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
transamerica corp said it will have an after tax gain of about 10 mln us dlrs on the sale of its occidental life insurance co of australia ltd affiliate to pratt and co financial services pty ltd of melbourne for 105 mln australian dlrs
nippon life is japans largest insurance company and the worlds biggest institutional investor analysts said
toyota motor credit issues 23 billion yen bond
the failure of the talks means brazil has got to rethink its position completely one santos exporter said
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
shr 39 cts vs 50 cts net 1545160 vs 2188933 revs 252 mln vs 195 mln year shr 153 dlrs vs 121 dlrs net 6635318 vs 5050044 revs 922 mln vs 774 mln note results include adjustment of 848600 dlrs or 20 cts shr for 1986 year and both 1985 periods from improvement in results of its universal life business than first estimated
canadian officials are very concerned about the trade implications
antibiotics in feed aid deadly bacteria study
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 combined profits of japans major corporations excluding financial institutions are forecast to fall 192 pct in the 1986 87 year ending march 31 compared to the 199 pct decline projected in late november wako research institute of economics 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
qtly div three cts vs three cts prior pay may one record april eight
guinn also told analysts that the company faced some regulatory uncertainties in ongoing rate cases at its pacific bell operating company
but a bank using dollars to obtain liquidity would foresake interest on the us currency while the underlying treasury bill investment is unaffected in a repurchase accord
roto rooter inc rotoo 3rd qtr net
it would be in line with market demand unless this was considered excessive
the company said it has no agreements for and is not in talks regarding any acquisitions
the illegal trade in cocaine is west germanys most worrisome drug problem west german officials said
international multifoods corp imc dividend
in a joint statement chirac and reagan said the pasteur institute in paris and the national cancer institute of bethesda maryland agreed to give part of the royalties from the test to a new foundation dedicated to the wordwide fight against aids acquired immune deficiency syndrome this agreement opens a new era in franco american cooperation allowing france and the united states to join their efforts to control this terrible disease in the hopes of speeding the development of an aids vaccine and cure reagan said at the signing ceremony
the president added that if developing countries continue to experience foreign exchange outflows on this scale many will be unable to sustain a level of imports necessary to ensure economic growth
opecs first half 1987 output ceiling was 158 mln bpd and its december pact had provisionally set a third quarter ceiling of 166 mln bpd rising to 183 mln in the fourth quarter
goldman sachs co managed the deal
mills noted however that interest rate differentials between canadian securities and us securities have narrowed dramatically recently with yields on 10 year canadian bonds only about 80 basis points above us 10 year notes
but margins improved in the second half and in particular refining and marketing in eastern canada showed a good recovery
kiddie products inc kidd year net
the company also said it will make its first cash dividend of 37 cents per unit on or about august 15 to holders of record june 30
he said he was hoping for shareholders to total around 30000 to 35000 against the 12500 before nationalisation
it is my hope that delegations will go back home and try to ratify the new agreement he added
lyng has resurrected a past us proposal that japan buy surplus us foodgrains for donation to developing countries but some us officials are skeptical action will be taken
terms will be set on april 15 with payment due may 6
offers on the soymeal and corn are due at 1530 hrs edt 1930 gmt oct 26 and will remain valid until 1000 hrs edt the next day the agent said
he told the legislative council the instruments would replace existing longer term government guaranteed export credit debt obligations
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
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
the debentures will be convertible into common stock through the life of the bonds
it may be called starting in 1992 at 101 with declining premiums thereafter or for tax reasons beginning in 1988 at 102 with declining premiums thereafter
gotaas larsen shipping corp said it had exercised an option to build a fifth in a series of crude oil carriers to be constructed by daewoo shipbuilding and heavy machinery ltd in south korea
fed adds reserves via three day repurchases
burlington coat factory warehouse corp bcf net
most private economists expect a rise of about 05 pct from the previous quarter
it said the planned tender offer is subject to several conditions including the tendering of over 50 pct of the companys outstanding stock
speaking to the san francisco chamber of commerce clausen said that during the coming months at the appropriate time we will be placing or underwriting for equities we do need to improve our capital
but government officials said last night we are not talking about days or weeks
however kuwait had guaranteed markets for its oil because of its local and international refining facilities and its own distribution network abroad he added
qtly div 11 cts vs 11 cts in prior qtr payable april 10 record march 23
waste management has a 27 dlr per share tender offer for chemlawn underway that chemlawn has already rejected as inadequate
essex chemical esx to sell convertible debt
ansett transport industries wholly owns ansett airlines one of australias two major domestic airlines and is in turn owned 50 50 by abeles international transport group tnt ltd tntas and rupert murdochs news corp ltd ncpas
some 51 billion lira out of the banks 69 billion lira loan portfolio was non performing
first of america bank corp said it acquired keystone bancshares inc for 25 mln dlrs
the interpretation makes clear that waiving a minimum share condition is a material change of the tender offer under us securities law sec officials said
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
federal industries ltds earlier announced commercial paper issue of up to 440 mln dlrs will be made only in canada a company spokesman said
the non callable bond is available in denominations of 1000 and 10000 canadian dlrs and will be listed in luxembourg
the following import levies for white and raw sugar are effective tomorrow in european currency units ecu per 100 kilos
argentina is currently negotiating terms with the steering committee for its creditor banks that will allow it to meet four pct economic growth targets in 1987
evergood products corp evgdo 1986 year loss
its still pretty early for cotton planting
dealers said a rise in call money gives the mark a firmer undertone contributing to downward pressure on the dollar
the proposed restructuring will reduce weatherfords cash requirements by about three mln dlrs in 1987 and 25 mln dlrs in 1988 it said
the three year issue which matures april 9 1990 is in two tranches
total corn commitments for delivery in the 1986 87 season amount to 1083400 tonnes
transducer systems inc year
yugoslav trade is declining rapidly this year in hard currency terms according to the latest federal statistics office fso figures
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 french plan is certain to be discussed by the ministers in detail during next weeks meetings and will undoubtedly be embraced by the developing countries
london traders say terminal market prices would have to gain around 300 stg a tonne to take the icco 10 day average indicator to its 1935 sdr per tonne midway point or reference price however little progress has been made in that direction and the 10 day average is still well below the 1600 sdr lower intervention level at 156287 from 156946 previously
but he said it was not aimed at moderating dollar selling
png enjoys the most liberal tax regime in the region with no secondary taxes fesharaki said
grain handling at rotterdam ports main grain terminal was at a standstill today as members of the largest dutch transport union fnv staged a lightning strike for the third day running
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
sas unit skanska in china hotel joint venture
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
caltex a joint venture of chevron corp chv and texaco inc tx said its naphtha posting is up four cts a gallon to 43 cts
intl broadcasting ibca sets reverse split
there was no recorded rain in other grain producing provinces
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
also insect damage to crops could be more extensive where excessive moisture exists it said
the agreement signed in january for the months from february to june is up for renegotiation
herrington said he understood the reagans reluctance to amend the newly enacted tax code to fund some of these proposals but added he hoped his departments energy security study would make a strong case for the need to help the struggling domestic oil industry
masstor msco in pact with natl westminster
hofmeister declined to comment on japanese trade estimates that he had sold around 30000 to 32000 tonnes in kuala lumpur and new york since september
results of an economic evaluation of the find in which placer has an option with australian consolidated minerals ltd acm to earn a 50 pct interest were encouraging enough to warrant a full study placer said in a statement
he said the 20 to 30 iranian personnel on the oil platform were given a 20 minute warning to abandon the platform
the current pact set a production ceiling for first half 1987 of 158 mln bpd and implemented fixed prices based on an 18 dlrs a barrel average
evergreen has a fleet of 66 container vessels totalling more than two mln dwt the spokeswoman said
he said the bank would have to come back to congress later this year to discuss its capitalization needs
you cannot expect that to go unnoticed in an economy
over the next few weeks i think youll see a concerted effort by the saudis to get production down wellemeyer said
yesterday gillette rebuffed a takeover proposal from revlon inc
qtr ends sept 30 shr profit seven cts vs loss two cts net profit 228691 vs loss 54115 revs 2415419 vs 1389579 avg shrs 3056787 vs 2933058
in pesticides and in animal health care products agrimont maintained its previous level of revenues and market share in 1986 montedison said
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
nippon mining lowers copper price
these are desperate actions but we believe that most of this offered sugar will be withdrawn within the three week breathing space allowed
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
in response to a question roderick also said he did not know whether australian investor robert holmes a court was accumulating usx stock
the company said it would also be willing to negotiate a plan with the supermarkets general board under which supermarkets general shareholders would have a common stock interest in the combined company
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
one way west germany agreed to do this was making a round of tax cuts worth 39 billion marks from 1990
cpc international inc said said it has agreed in principle to sell interests in its grocery products operations in hong kong malaysia the philippines singapore taiwan and thailand to ajinomoto co inc of japan for 340 mln dlrs
national westminster bank cuts base rate
administration officials including commerce secretary malcolm baldrige and defense secretary caspar weinberger feared that the sale to fujitsu would lead to japanese control of key semiconductor technology for supercomputers and military weapons systems
revenues have been depressed by recent price discounting added costs from expansion programs lower shipping volumes and increased costs associated with severe weather conditions on the east coast company officials told analysts here
teleglobe president and chief executive jean claude delorme will continue in the same post the company said
favored trade status for moscow still opposed
creditors debtors share responsibility weizsaecker
proceeds of the offering will be used to repay 60 mln dlrs of debt with the balance to reduce any outstanding borrowings under the companys revolving credit loan agreement and for working capital purposes
shr 26 cts vs 52 cts net 1386000 vs 2773000 revs 477 mln vs 385 mln nine mths shr 52 cts vs 97 cts net 2765000 vs 5419000 revs 1169 mln vs 97 mln
it said the first quarter of 1986 had been the previous income record for a single quarter
agip petroli a subsidiary of state energy concern ente nazionali idrocarburi said in a statement that the remaining 50 pct of the us firm is owned by steuart investment co a holding company that also operates in the sectors of transportation hotels and insurance
riggs national corp rigs sets quarterly
lubbock is the heart of the west texas cotton region which produces about 80 pct of that states crop
ec to abolish tax on spanish maize exports
fleet financial group said it might have to sell its first connecticut corp subsidiary as a result of its proposed 13 billion dlr acquisition of norstar bancorp nor under connecticut banking law new england based bank holding companies such as fleet are not allowed to operate connecticut banks if they merge with companies from outside the region
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
world bank loans portugal 50 mln dlrs
finally the fed said that the m 1 money supply fell 800 mln dlrs in february with the broader m 2 measure down 16 billion dlrs and m 3 up an even three billion dlrs
bonds and treasury bills will be issued in denominations of 1000 dlrs and treasury bills in a minimum denomination of 10000 dlrs
as major beneficiaries of soft oil prices and with low labor costs taiwanese and korean exporters are well placed to take up the slack
the bitter winter cold temperatures which broke record lows that had stood for four decades also may have taken its toll on soviet winter crops she said
petrobras said the saudis will accept banco do brasil credit guarantees
killian a simex board member said the cbot night session might raise arbitrage opportunities and simex would benefit from a local stock exchange index contract planned for the end of 1987
equatorial communications co equa 4th qtr loss
mine production of gold in the 12 month period jan dec 1986 totaled 2951151 ounces vs 2475436 ounces over the same period in 1985
first eastern corp said it has completed the acquisition of peoples bank of nanticoke pa in an exchange of 11 first eastern shares for each peoples share
it gave no details on the size of the offering
in the first stage we decided not only to lower the reintegro but also to adopt a flexible policy of reintegro that will allow private exporters to participate more actively in colombias coffee export policy he 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
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
standard said its standard oil production co subsidiary will operate the platform which is being designed to produce 15000 barrels of oil and 50 mln cubic feet of gas daily
he said the worldwide market for cardiovascualr therapeutic products which includes pacemakers valves catheters and lasers will be valued at about 25 billion dlrs 1990 and will double that by 1995
wti up to 1750 dlrs
faraway will spend 15 mln dlrs on exploration over three years and will hold 50 pct of the property until all expenses are paid out when the interest will drop to 40 pct
cms energy corp cms 3rd qtr net
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 coupon has been set at 5 1 4 pct
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
finance minister gustavo petricioli who signed the accord for mexico said the agreement reflects a strengthening of economic financial and trade relations between the two countries
alkan had said earlier this year it would close half the plants capacity but decided to shut down completely when talks with potential cooperation partners failed the spokesman said
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
sis sisb completes wendys wen unit buy
lucky stores lks edelman in standstill pact
coastal corp said that effective october 16 it had raised posted prices for crude oil by 50 cts a barrel
allwaste inc said it entered into an agreement in principle to buy tank cleaning co a privately held company that cleans tank trailers in exchange for about 13 mln shares or allwaste common
ivory coast has been chosen by the abidjan based inter african coffee organisation iaco to speak on behalf of the continents 25 producer nations at the london talks
american cyanamid co said subject to approval by its board it has changed the record date for the quarterly dividend it will pay on june 26 to may 8 from may 29 to coincide with the record date for a two for one stock split that was declared at the same time
the head of the economics department in the brazilian foreign ministry sebastiao do rego barros told an agreement can be successful if it keeps a link with market reality
finance minister robert chien told reporters his ministry and the central bank would work jointly on new measures to ease the controls but he did not give details
tenneco tgt declines comment on stock
the ministry recently called on japans major chip users some of whom are also leading producers to step up their purchases of foreign semiconductors
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
oper shr loss 31 cts vs loss 30 cts oper net loss 5429000 vs loss 5216000 revs 2575 mln vs 2436 mln avg shrs 175 mln vs 135 mln year oper shr loss eight cts vs profit 28 cts oper net loss 1324000 vs profit 4067000 revs 9895 mln vs 7479 mln avg shrs 176 mln vs 157 mln note 1986 operating net loss excludes income from discontinued operations equal to 11 cts in the quarter and 66 cts in the year compared with 107 dlrs in the quarter and 123 dlrs in the respective periods of 1985
intelligent business ibcc 1st qtr jan 31
brazils soybean harvest was 13 pct complete by march 20 the safras e mercado newsletter said
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
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 disagreed with what he termed the grossly exaggerated claim that real uk interest rates were much higher than those of other major industrialsed countries
maryland said the new name only will be used for the parent and it does not plan to change the names of maryland national bank american security bank or non bank affiliates
austerity is still the watchword but saudi arabia will not be allowed to dip further into recession the saudis can afford to draw down reserves temporarily to offset the worst effects a diplomat said
debt sources said a world bank concessional loan of around 200 mln dlrs to help rationalise moroccos public sector was likely to be agreed in washington soon
broader us eep sought by republican lawmakers
it said senegal was given a 55 mln dlrs loan for a rice cultivation project guinea 46 mln dlrs for construction of schools and 12 mln dlrs for comoros for petroleum facilities
arthur krumper of munichs ifo institute which with the diw of west berlin had presented the more pessimistic view of the economy said the braking effects on the economy produced by external factors will remain considerable for most of the year
mead mea expects improved earnings this year
payment is due april 15
the agency said the rating recognizes risks in chicago pacifics highly leveraged balance sheet uncertainty arising from its consideration of another sizable acquisition and exposure to the european appliance industry
wesbanco wsbco acquiring bank of sissonville
in the 1985 86 season the awb received 1508 mln tonnes of the 1613 mln tonne crop
it forecast that imports of goods would grow by a more modest 45 pct in 1987 and 325 pct in 1988 than in 1986 when import prices fell substantially and imports rose by 82 pct
greek prime minister andreas papandreou said the military readiness of our country is able now to give a very hard lesson if our neighbours turkey were to carry out military actions the row erupted when the greek government said last month that it was taking control of a canadian led consortium which was already producing oil off the greek island of thassos and would drill in the same area after the takeover
capital markets in the arab world are still in their infancy he said
the bank of tokyo ltd is issuing a 100 mln dlr convertible eurobond due march 31 2002 paying an indicated coupon of two pct and priced at par lead manager bank of tokyo international ltd said
toyota severed ties with its philippine partner of 20 years delta motor corp in 1984 because the local company was suffering financial difficulties
terms will be fixed on march 19 and payment date is march 30
canadas 120 billion dlr bond offer was virtually sold out as bond prices closed weaker in moderate trading dealers said
broad acquires vogt and conant unit
aug was trading at 15760 dlrs from 15740 asked yesterday
united cities ucit makes acquisition
wichita industries inc wro 4th qtr net
harris cuts stake in bell industries bi 
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
kuwait has asked at least four countries including the united states soviet union britain and china for temporary use of their flags or tankers to protect kuwaiti oil shipments in the troubled persian gulf reagan administration officials said
it cited as reasons the uncertain regulatory climate in new york state and the depresed price of new york state electric stock which has been caused by the delay in the nine mile point unit two nuclear plant
an additional 10000 tonnes of wheat are still available to sri lanka under the export enhancement program sims said
stephens replaces jack gill who is retiring early aged 57
world bank likely to urge changes on jakarta
citicorp savings was predominantly in northern california
the acquisition is expected in the third quarter of 1987 and is subject to regulatory and shareholder approvals
shr 471p vs 377 shr fully diluted 422p vs 336 div 11p vs 7 making 16 vs 10 turnover 183 billion stg vs 176 billion pretax profit 1153 mln vs 813 mln tax 305 mln vs 162 mln retail profit b and q 455 mln vs 331 mln comet 174 mln vs 119 mln woolworth 387 mln vs 176 mln other 46 mln loss vs 600000 loss property income 494 mln vs 480 mln net interest payable 311 mln vs 287 mln extraordinary debit 160 mln vs 291 mln
we have to avoid that he said congressmen seem upset mosty with japan because of its massive trade suprlus with the united states and not with ec nations but ec nations will be hurt by the diverted shipments of asian textiles
the trade law changes are to become part of a major congressional and administration effort to turn around the record us trade deficit of 169 billion dlrs last year by opening up foreign markets and making us products more competitive
brazil criticises advisory committee structure
floridas citrus groves continue in very good condition acccording to the latest report by the us department of agricultures florida agricultural statistics service
it the convoy is now progressing uneventfully in the central gulf the pentagon statement said
the paper said the price for round grained rice from 11 provinces regions and cities in central east and northwest china has been increased by 175 yuan per 50 kg
shr loss 422 dlrs vs profit nil net loss 5568000 vs profit 11000 revs 422 mln vs 375 mln year shr loss 374 dlrs vs profit 102 dlrs net loss 4898000 vs profit 1384000 revs 1390 mln vs 1327 mln note 1986 net both periods includes 1603000 dlr loss from discontinued operations due to settlement of lawsuit and redemption of preferred
but one senior banker said he too was guardedly optimistic a deal could be struck possibly by the end of the week
kentucky smelters get relief on higher rates
united artists communications inc and united cable television corp said they have indefinitely suspended negotiations on a proposed merger of their companies previously announced
the debt filing was registered under the secs shelf procedure which gives the utility up to two years to sell its debt
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
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
shr loss 70 cts vs loss 57 cts net loss 20616000 vs loss 16854000 revs 231 mln vs 601 mln six mths shr loss 138 dlrs vs loss 102 dlrs net loss 40780000 vs loss 29996000 revs 610 mln vs 1149 mln
shr two cts vs eight cts net 270000 vs 1212000 revs 1858000 vs 1420000 avg shrs 16817618 vs 12507671
for all of 1986 rowan lost 421 mln dlrs after a 476 mln dlr tax credit
newfoundland capital corp ltd said it will issue 25 mln dlrs principal amount of eight pct convertible subordinated debentures
additional moisture was needed in some areas
the transaction will involve an exchange of oakleaf stock for cash and debt and is subject to a definitive agreement the companys said
shr 135 dlrs vs two dlrs net 6195000 vs 9202000 sales 1575 mln vs 1516 mln year shr 602 dlrs vs 678 dlrs net 27608000 vs 31117000 sales 5857 mln vs 5413 mln
modern techniques of cost control have been introduced markets expanded and outsized labour forces and inventories cut back
but that confidence is now cracking as the financial markets suddenly believe fed chairman paul volckers often repeated warnings about the risks of a dollar collapse
gold reserves stood at 1267 mln ounces unchanged over the year
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
upland minerals acquires brazil mining firm
british manufacturers expect output to grow rapidly in the four coming months a confederation of british industry cbi survey shows
the italian treasury said annual coupon rates payable march 1988 on two issues of long term treasury certificates ccts would be cut by about four percentage points compared with rates this march
he added that oil prices will eventually rise to 35 dlrs then to 50 dlrs after 1990
further equitorial said it is in default of two other oblitations in connection with the purchase or lease of transponders as a result of cross default provisions
details of the plan are outlined in a letter to be mailed to stockholders
salomon offers units of van dusen airport lp 
it also controls caesars new jersey inc cjn which owns an atlantic city nj casino hotel
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 sale comprised 749 mln shares at 2725 nz dlrs a share and 2095 warrants at 1709 dlrs each
brazil in february stopped interest payments on about 68 billion dlrs owed to private banks and the ministry statement issued on monday said this would only be lifted when an accord is reached the statement said that a token payment which banks want from the brazil as a condition to discuss an agreement will only be made when there is a major progress in the negotiations meanwhile a world bank mission arrived on monday to analyse the performance of the brazilian economy after the new plan launched in july by finance minister luiz carlos bresser pereira
firs slightly raises ec beet sugar output estimate
shr loss 24 cts vs loss nine cts net loss 216697 vs loss 47344 sales 144403 vs 118391
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
this should be followed by a gradual reduction in cfc volume until no cfc gases are released into the air he said
in february ec industrial policy director heinrich von moltke came to japan and said i only know that your government under the leadership of maekawa points to restructuring your economy into a less outward looking more inward looking one
exports of goods and services rose 13 pct in the fourth quarter while imports rose only 29 pct statistics bureau figures show
australian manufacturers expect downturn survey
analysts said the coincidence of the timing of the announcement by toshiba with cables dispute could increase pressure from the uk on japan
municipal financial corp 1st qtr jan 31 net
the tax had been introduced last september at the same time as a subsidy of eight ecus per tonne was brought in for exports of maize to spain from other ec member countries
farmers in one central region of china can from 01 hectare earn 2250 yuan a year from vegetables 375 450 yuan from cotton or 225 yuan from grain it added
yeutter puts currency burden on taiwan korea
a far better answer than protectionism would be structural change within the japanese economy the kind suggested by the maekawa report
the west texas cotton crop was largely unscathed by an isolated thunderstorm in that region last night that packed hurricane force winds crop and weather experts said
the us government trying to stem protectionist pressure at home has called on south korea to open more markets to american goods and revalue the won faster
safety kleen corp said it has completed the acquisition of mckesson envirosystems co a unit of mckesson corp mck for an undisclosed amount
he said that while the us officials had been disturbed by brazils suspension of interest payments they understood brazil had no other choice as it had to protect its reserves
but a negative report on certificates will fuel the fire against certificates and weigh heavily on at least an increase in the certificate program an agricultural consultant said
the bank of japan stepped up its dollar buying as it re entered the market after the midday tokyo lunch break dealers said
rent a center rent files debenture offering
most producing nations have just completed or are about to complete their annual harvests and exportable supplies are at their seasonal peak
the previous tokyo low was 14055 yen set on april 15
sarney addressing his cabinet live on television also reiterated that he intended to remain in power for five years until 1990
susquehanna corp sqn 3rd qtr net
things are normal
louis dreyfus 5300 tonnes same corn may 10 june 5 at 7549 dlrs fob gulf
galactic galcf adopts conservative accounting
delegates also passed unanimously a resolution that congress and the administration should act swiftly to identify problems in the farm credit system
this week has seen whites buying by india and egypt
shr loss one ct vs loss one ct net loss 89844 vs loss 85731 revs 3384726 vs 4646285
ongpin outlined his plan today to the 12 bank advisory committee headed by manufacturers hanover trust co
the amount of crude delivered to the soviet union might double to 200000 bpd later he said
the warrants will be listed in luxembourg and pay date is march 31
quaker oats oat sells unit to keystone
new certificates will be needed it added
a smaller group of representatives is now charged with fleshing out the details
wed need some assurances from them the soviets that they would buy if offered the wheat under the subsidy plan he said
weather conditions were good with no fog or wind and there were many other vessels in the area
reagan says us needs to lessen oil imports
february exports rose to 287 billion dlrs fob from 283 billion in january and 230 billion in february 1986
qtrly div 11 cts vs 11 cts prior pay april 28 record april 20
williams cos wmb year loss
most paris dealers expressed disappointment at the communique saying nothing has changed to reverse the dollars downward trend
wtc is engaged in domestic international air freight ocean and surface freight forwarding and consolidation and distribution services
the agency said february precipitation was above normal over most soybean areas of brazil
pay n pak said that the proposal from a leveraged buyout firm had been amended to increase the dividend rate on the cumulative preferred stock to be received by pnp shareholders from 135 pct to 175 pct
if we give the soviets the same deal as the chinese i expect theyll take it said vernon mcminimy director of commodity research for ae staley manufacturing co
wright a texas democrat told reporters the administration had gone ahead with plans to reflag the kuwaiti tankers as us ships without asking congressional leaders for their advice
willis shares were suspended on friday at 437p
bank of japan buys dollars shortly after opening at around 14530 yen dealers
uk defence secretary george younger is expected to announce the governments decision on the sale of state owned arms manufacturer royal ordnance today parliamentary sources said
mexico has no intention of leaving the international coffee organization ico in the event of brazil withdrawing from the group the mexican coffee institute imc said
williams rose 2p to 742
but each step brings a unanimity of opinion closer he said
duke power co is raising 100 mln dlrs through an offering of first and refunding mortgage bonds due 1997 yielding 7663 pct said lead manager morgan stanley
the us agriculture department forecast south africas 1986 87 corn crop at 850 mln tonnes vs 950 mln tonnes last month
japanese yards topped world order books at end december followed by south korea and taiwan according to lloyds register of shipping
nazer said opec estimated demand for its oil during third quarter this year would be around 166 mln bpd
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
although japanese unemployment rates appear lower than those of other industrialised nations methods for calculating statistics make them difficult to compare economists warned
mfs municipal income trust mfm sets payout
computer asscess makes bluefish full text search and retrieval software for international business machines corp ibm and compatible personal computers
any acquisitioon would be subject to approval by its shareholders and to regulatory filings it said
however by the close of trading that spread had narrowed to 55 and continued to slide in aftermarket activity
becor western bcw talks to fourth bidder
the government does not wish to increase output much above this because of low world prices and the land would be better used for other crops
company converted to stock ownership in december 1986
agriculture department officials have declined to take any official position on the issue
marine midland banks inc 1st qtr 174 dlrs vs 189 dlrs
cargill strike talks continuing today
zayre corp zy 4th qtr jan 31 net
traders said the price hike followed higher spot and futures market prices for heating oil
salomons operation was an attempt to demonstrate its commitment to the japanese market in the hope of expanding its underwriting share of 10 year bonds securities sources said
schleswig holstein landesbank lb finance bv is issuing a 30 mln australian dlr bond due april 30 1990 carrying a coupon of 14 5 8 pct and priced at 101 3 8 said anz merchant bank ltd as lead manager
an additional 76300 tonnes of barley malt are still available to nigeria under the export enhancement program initiative announced december 10 1986 it said
fields seeded during the optimum period last fall and especially those receiving supplemental irrigation water about 65 pct of the fields observed appeared to be in good condition with little evidence of winterkill while others varied considerably the report said
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
27000 long tons usg taiwan 2325 dlrs fio five days 1500 1 10 5 continental
sony is hoping to retain at least 1985 86 levels of group net profits and sales in the new financial year starting april 1 1987 he added
kuwaits oil minister sheikh ali al khalifa al sabah said in remarks published in the emirates daily al qabas there were no plans for an emergency opec meeting to review prices
turkey alleged that the consortiums plans would have infringed the 1976 berne agreement between the two countries which called for a moratorium on any activities until the delimitation was agreed
foreign official assets in the united states increased 800 mln dlrs between october and december after rising 154 billion dlrs in the third quarter
the edelman dominion group last week sweetened its hostile tender offer to 77 dlrs a share after burlington agreed to a leveraged buyout by a morgan stanley and co backed group for 76 dlrs a share
it said the unit is a catalytic reformer which converts low octane components of gasoline into high octane components for use in super unleaded gasoline
in the long term we cannot repeatedly bludgeon other nations into opening their markets with threats of us restrictions
china is not a desperate buyer now
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 central bank intervened as a medium sized trading house sold dollars putting pressure on the us currency they said
planned daily output is 65000 barrels oil and 35 mln cubic feet gas
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 well one of the four structures drilled in the area 80 km north west of bombay indicates good prospects of both oil and gas
he noted that fleet has a teriffic reputation after having diversified in a number of financial areas
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
san paolo di torino cuts prime rate to 1250 pct from 1300 pct official
on friday cyacq corp an investor group formed by audio video affiliates inc ava and citicorp cci said it would increase the price it was offering for all cyclops shares to 9250 dlrs from 8000 dlrs each if cyclops would provide it with confidential information given to dixons and if it were satisfied that any rights dixon might have to recover fees or expenses from dixons or to buy cyclops stock would be rescinded or proved invalid
strackbein would be president of safco
simon who resigned last month as bronx borough president was accused of extorting the money and forcing the now bankrupt contractor the wedtech corp to hire his brother in law and then give him raises
the united nations food and agriculture organization fao said it approved emergency food aid worth more than 143 mln dlrs for drought victims in ethiopia
the company said jerry gottlieb senior vice president lorimar telepictures will serve as acting chief executive officer of karl lorimar video
brokerages within the government bond writing syndicate are now negotiating by how much foreign house subscriptions to government bonds should be raised the managers said
allegheny said it and the sunter concerns intend to vigorously defend the complaints charges
but he declined to say what measures would be discussed ahead of a communique of the group of seven ministers later today
the company in a newspaper advertisement said it has started a tender offer for all piedmont shares at that price and the piedmont board with two directors absent has unanimously approved the bid
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 said that the so called cruzado plan had worked for a while but that new efforts by the government are now required
standard and poors corp said it cut to ccc from b minus international rectifier corps 58 mln dlrs of convertible subordinated debentures due 2010
the pipeline will run about 170 200 kms 105 125 miles from shabwa oilfields to a coastal terminal at bir ali on the gulf of aden mees said
the selling concession is 1 1 2 pct while management and underwriting each pay 1 2 pct
taiwans first quarter maize imports seen rising
the present scheme was approved as an emergency measure to help poor people affected by this years unusually cold winter and will end on march 31
whittaker wkr completes sale of medical unit
the group earlier reported a drop in net income for the year to 254 billion stg from 303 billion previously with lower crude prices outweighing the effect of increased sales by volume
bell resources says it buys 576 mln bhp shares taking holding to 2993 pct
the company said energy assets agreed to share the costs of increasing production at the oak hill field
afg has ba 1 senior subordinated debt and ba 2 convertible subordinated debt
iranian tanker attacked over weekend lloyds
banks have pledged 97 pct of the 195 billion dlr loan but the imf has not yet defined what amount constitutes the critical mass which is needed for release of the imf funds and the funds from creditor banks
european community agriculture ministers will meet tomorrow evening after the end of a two day summit meeting of heads of government to again attempt to agree a 1987 88 farm price package an ec commission spokesman said
coffee production was expected to drop slightly to about one mln bags of 60 kg each in the 1986 87 crop year ending june from 11 mln bags last year he said
john lafalce d ny has introduced a bill to create an international debt adjustment facility to deal with third world debt
brown and sons inc absb and was formed november 26 1986
societe generale one of the three largest state owned banking groups said in a statement that its parent company profit for 1986 totalled 800 mln francs up 212 pct on 1985s 660 mln profit
in addition it said it is incurring significant expenses from management programs aimed at reducing costs and boosting productivity
the sources said the kingdoms exports from gulf ports averaged one mln bpd during the eight days ending last sunday down from a february average of 19 mln bpd
figures for first quarter 1987 west german gnp will be published on june 11 after they were provisionally scheduled for june 4 an official at the federal statistics office said
m 2 rose 828 pct to 5871 billion in april after rising 647 pct to 5752 billion in march
states cash deposits at the central bank fell to 800 mln and they also drew down 12 billion marks in book credit 900 mln marks more than in the prior week
but if commodity prices exhibit a broad trend a policy action might be considered he said
the non callable issue is available in denominations of 5000 stg and will be listed in london
there had been speculation another offer might be forthcoming but analysts mostly believe the 35 dlrs per share price being paid by hutton and the managers pc acquisition inc is fully valued
byron nimocks of ef hutton group said improved second fiscal quarter earnings could make american medical stock worth about 20 dlrs per share
it said it hoped purolators management would continue with the company
augenthaler said the 43 dlr a share offer or 375 mln dlrs total would be a bargain for union pacific
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
as of february 25 it said there were outstanding 150 mln dlrs of the principal amount of debenures
its surplus rose to 814 billion dlrs in february from 57 billion dlrs in january
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
shr nine cts vs seven cts net 676000 vs 509000 revs 485 mln vs 399 mln 1st half shr 12 cts vs 17 cts net 923000 vs 1248000 revs 941 mln vs 795 mln notecurrent half net includes charge 500000 dlrs from reversal of investment tax credits
cablevision systems corp said it bought cable television systems in six dutchess county ny communities from dutchess county cablevision associates ltd
this made a sharply lower deficit of 104 mln dlrs on the balance of goods and services against deficits of 499 mln in january and 354 mln a year earlier
we must try to get them to lower the spreads machinea told 
amca ail to sell some dominion bridge assets
but economists agreed not even the auctions will generate enough impetus for a major move
the profit rise was achieved despite substantial cost increases and a 261 pct rise in capital expenditures to 242 billion rand it said
one of those mentioned by lazier was usx corp an energy steel concern which had been courted by investor carl icahn and drew the attention of australian robert holmes a court last year
jp morgan and co inc jpm 3rd qtr net
a us embassy assessment puts 1987 output at 145 mln tonnes against 135 mln in 1986 and 1208 mln in 1985
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
the department said the bonuses awarded averaged 3808 dlrs per tonne and the wheat is for delivery may november 1987
congress has authorized and appropriated 610 mln dlrs for the project the company said
the company said the change came after talks with the securities and exchange commission on the companys judgement in considering the five mln dlrs collectible
mulford disappointed in newly industrialized nics efforts to strengthen currencies
in the past they just spent and never realized the return on the outlays they did make she said
swiss based nestle sa s nestle enterprises ltd unit said it signed a letter of intent to acquire nabisco brands ltd s club melrose dickson and chase and sanborn businesses for undisclosed terms
in a separate statement issued through tanjug ina said it has successfully completed the first drill at the depth of over 3000 meters in the bay of baes in tunisia
petromin also suggested that a sellers option of supplying up to 20 pct more than the contractural volume be subject to seller buyer agreement
sri lanka postpones eep wheat tender trade
a spokesman for the governor said the company proposed several amendments to perpich designed to make any takeover attempt in the state more difficult
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
female unemployment in january remained at 30 pct equal to the record level marked in april august september and december last year
should further drilling and tests in the area yield positive results oil production from a floating platform could be considered director general of mineral and energy affairs louw alberts announced the strike earlier but said it was uneconomic
his trip to north america is part of his attempt to meet farm policy leaders in the key gatt member states
the japanese purchases comprise 30000 tonnes for april 20 may 10 shipment 102000 for may 15000 for late may early june 36000 for june and 31000 for late june early july shipment the sources said
chemie linz expects sharply higher 1986 loss
year to end march shr 209p a 223 pct rise div 51p making 845p vs vs 75p turnover 942 billion a 124 pct increase operating profit 235 billion a 109 pct increase pretax profit 207 billion a 117 pct rise fourth quarter 1987 turnover 242 billion a 84 pct rise operating profit 6290 mln a 121 pct increase pretax profit 5550 mln a 117 pct rise
the cattle are being fed the residue left after cleaning the cane stalks
at the companys annual meeting he said an acquisition could take place in the next 24 months
in a letter to sgl dated march 20 dart also said it was denied confidential information on sgl that would be given to other potential bidders
property firm raises one billion hk dlr loan
the dividend is payable april one to holders of record march 18
after a strong rise of 78 pct in 1986 total domestic demand in norway was seen falling by 15 pct in 1987 and one pct the following year
officials do not think of china but of their own department or firm
magellan corp sets merger with balzac
the government is said to be in favour of joining the pact but local cocoa growers and traders told they are against the idea because certain provisions in it may be to their disadvantage
producers gave no reaction to the scheme and will respond to it when the working group meets tomorrow at 1000 gmt producer delegates said
japan said an international agreement on loans to poland was needed before tokyo extended fresh loans to warsaw to help a japanese car maker set up a factory there
payment date on the issue if april 15 1987 and the first coupon will be short
shr loss 19 cts vs loss 237 dlrs net loss 1140000 vs loss 13608000 revs 1069000 vs 1940000 year shr loss 53 cts vs loss 234 dlrs net loss 3012000 vs loss 13433000 revs 4945000 vs 6705000
in addition 800000 shares will be offered overseas in an offering managed by goldman sachs international corp
finance minister barend du plessis told a new conference that 34 banks holding more than 70 pct of the frozen debt agreed to the new arrangement worked out with south african negotiators in london
if these credit lines were cut we would face difficulties to honour our foreign debt in the future funaro said
continental grain co of new york received three shipments totalling 143000 tonnes price ranging from 9095 to 9575 us dlrs per tonne c and f taiwan for delivery between may 10 and october 10
bayou is 552 pct owned by australia wide industries ltd
fed expected to add temporary reserves
liquidity will be further tightened by the fortnightly treasury bill auction tomorrow and fridays hike in reserve requirements expected to absorb over 200 billion pesetas from the system
the relative shortage of farmland in japan is mainly responsible for higher domestic prices it said
our entry in long distance would further stimulate competition staley said
carolin mines ltd said recent assays of tailings at its hope british columbia mine ranged from 050 to 064 ounces of gold per ton
the australian gas light co agl said it will offer one share plus one dlr cash for every two shares in oil and gas producer tmoc resources ltd in a counter bid to the previously reported takeover offer by santos ltd stoss the offer values tmoc shares at 475 dlrs each based on agls closing price of 850 dlrs on friday
the special dividend is payable may 28 1987 to stockholders of record april 24 1987
shr 19 cts vs 20 cts shr diluted 18 cts vs 18 cts net 578000 vs 554000 sales 107 mln vs 104 mln avg shrs 3006s302 vs 2795820 avg shrs diluted 4271488 vs 4081534
dome has pledged its 425 mln encor shares as security for part of its debt to commerce bank estimated last year at 947 mln canadian dlrs and the bank wants dome to sell the stock to pay down debt analysts said
the proceeds from yesterdays 100 mln dlr equity warrant for kansallis osake pankki k o p will probably be swapped into floating rate dollars once the final terms have been set for the deal executive vice president erkki karmila told a press conference
the bonds will be listed in london and will be issued in denominations of one mln yen
shr 20 cts vs 25 cts net 487000 vs 435000
the bank of japan has cut its discount rate five times over the last year and a half
it said that the 74 pct of the thrifts reporting profits had net after tax income of 23 billion dlrs up from 20 billion dlrs earned by 77 pct of the profitable industry in the third quarter
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
westinghouse electric corp said earnings per share growth will exceed sales growth and will be in the double digit range through 1989
but price increases slowed sharply for gasoline and home heating oil the department said
trans world airlines inc said it filed suit in delaware chancery court against usair group inc and its board of directors seeking to invalidate its poison pill anti takeover plan
huttons stock rose 2 1 4 to 39 3 8
the issue is open with immediate effect and will close when fully subscribed the statement said
the official mti news agency said the government decided consumer price subsidies had to be cut to reduce state spending
final terms will be set on or before march 9
other dealers also reported small scale intervention to stabilise the dollar after aggressive selling overnight in tokyo where the bank of japan also intervened again
reid said his estimate of crude oil prices this year was in the range of 15 to 18 dlrs
gemini technology inc gmtif year loss
1985 restated
bangladeshs trade gap is expected to widen in fiscal 1987 88 beginning on july 1 after the government relaxed restrictions on some imports including luxury cars
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
in the us there is too much money chasing too few stocks pickens said
the ec in 1962 ruled all ec oilseed imports duty free in an effort to fill its oilseed needs
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
although belly stocks were down 33 pct from last year they exceeded the average expectation and actually showed a lighter than expected decline from last month due to an adjustment to last months holdings they 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
the sale expected to close by mid april is subject to certain conditions including board approval at both companies
south african foreign reserves up sharply in feb
joseph light saj 3rd qtr net
as part of that agreement japan and west germany agreed to take steps to stimulate their economies and the united states agreed to cut its budget deficit
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
following the tender offer emery said it would offer 40 dlrs of junior subordinated debentures for each remaining purolator share outstanding
harper international inc hnt 3rd qtr jan 31
it said similar inquiries are being conducted by the securities and exchange commission
harper international inc hnt 3rd qtr net
economists and bankers said the new decision resulted from growing pressure from the united states taiwans largest trading partner which buys almost half the islands exports
franklin minnesota insured sets payout
revenues declined to 7202 mln dlrs from 7936 mln dlrs
foreign investors sold a net 427 mln dlrs of japanese bonds excluding bills after buying 227 mln dlrs in january
brazil has so far been unwilling to accept any proposal that would reduce its quota share delegates said
the bank also extended a 10 mln dlrs line of leasing to a malaysian bank and 19 mln dlrs to a tunisian saudi investment company the statement said
swire expects continued growth this year
north attleboro serves 2273 residential customers 288 commercial customers and 40 industrial customers
in its announcement security pacific said it will record interest income only as it is received in cash
bzw makes markets in japan dollar convertibles
2001 distributes fresh squeezed juices and had a loss on sales of about one mln dlrs in 1986 its first year of operation
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
at todays auction however the bank left the rate unchanged
in a filing with the securities and exchange commission moller said he bought 65000 first western common shares between january 20 and march 26 at prices ranging from 10000 to 10625 dlrs a share
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
gatt meeting hears plea for african debt relief
india to hold white sugar buying tender
the present situation of abusing occupying unlawfully wasting and destroying land and land resources is serious said an article in the official press explaining the new measures
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
neither rep
on may 11 baxter and carmark announced a definitive agreement for baxter to acquire carmark in a stock transaction valued at 528 mln dlrs
drought has resulted in a reduction in chinas estimated wheat crop this year to 870 mln tonnes 20 mln below last years harvest the us agriculture departments officer in peking said in a field report
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
experts carrying out tank and computer tests to determine how the accident occurred will focus attention on the ships doors its ballast system and crew procedures he added
we believe there has been wise leadership here and the economy is being very well managed conable told reporters at jakarta airport
value added tax will be levied on all purchases by members of the uk public as is currently the case with foreign coins although transactions between members of the london gold market and all exports of the coins will be zero rated
the council of the australian petroleum exploration association apea said it will press on with its campaign for major improvements to australias petroleum taxation structure
the price increase follows similar moves by several other companies
industrial equity which is principally owned by brierley investments ltd a publicly held new zealand firm said it bought the stake for 23 mln dlrs for investment purposes
after learning of the appeals court ruling delta officials last night spread the word by telephone that western employees should report for work today in their old uniforms not in new delta outfits
reichhold chemie ag headquartered in rausen switzerland had sales in excess of 75 mln dlrs last year
a bidding war for viacom international inc one of the largest us entertainment companies pitted a management group and other investors against national amusements inc a closely held theater operator
woolwich building society issuing 50 mln stg bond
why would companies import crude when they could import products for a smaller cost if there were only a fee on crude asked henry rosenberg chairman of crown central petroleum cnp an import fee would raise the costs of us petrochemical products and make them noncompetive on the world market dunham said
such plans allow foreign bank creditors to sell third world debt at a discount to investors who then become stockholders in firms in these countries
glickman said a 0 92 program which allows a farmer to forego planting and still receive 92 pct of his deficiency payment would not be a major revision of the 1985 farm bill only an extension of the 50 92 option already provided under the current bill
wal mart stores inc wmt 4th qtr jan 31 net
the surplus for exporters to the us is bullish for bonds because they exporters have a lot of dollars
there is a 1 1 4 pct selling concession and combined management and underwriting fees total 5 8 pct
the department asked for public comments on the proposals by april 17
fed adds reserves via customer repurchases
societe generale president marc vienot said in december he expected group 1986 consolidated profits to rise to between 25 billion and 26 billion francs from 162 billion in 1985
data general to take 182 mln dlr pretax charge to redeem 150 mln dlrs of debt
if that reduced production level were maintained through to the end of june second quarter output would come in 10 pct below that of the first three months of the year
but he added it did not imply the country would begin heavy selling of coffee
national guardian natg makes acquisitions
japans economy remains sluggish but is beginning to show signs it may bottom out soon the economic planning agency said in a monthly report submitted to cabinet ministers
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
unilever nv final dividend remains 1067 guilders as declared with the 1986 results on march 3
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
the us is urging reluctant commercial banks to seriously consider accepting a novel philippine proposal for paying its interest bill and believes the innovation is fully consistent with its third world debt strategy a reagan administration official said
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
newly privatised financial services group cie financiere de paribas paripa said it will call an extraordinary general meeting of shareholders for the authorisation to issue various share and bond issues over periods varying between one and five years
c itoh has just begun a trade mission in canada to investigate trading opportunities in the aerospace autoparts electronics and other sectors and will visit some 30 leading companies across canada
in addition to the sale price the government will receive teleglobes accumulated cash of 102 mln dlrs and a special 18 mln dlr dividend making total proceeds 6083 mln dlrs
safety kleen sk to buy mckesson mck unit
in its world production and trade report the department said the branding is necessary to improve surveillance for bovine tuberculosis because it provides a permanent way to identify mexican steers
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
major nations must act on currencies miyazawa
they wont get a 100 pct of the synergies analysts said the acquisition could cost emery earnings in the short term but long term after eliminating redundancies and selling other purolator assets it should boost emerys profitability
export bonus wheat for jordan usda
clearly any industry to which canadian governments grant rights to fish mine cut timber or produce power could be vulnerable to a finding of a subsidy under this language he said
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
unit loss 436 dlrs vs loss 427 dlrs net loss 374 mln vs 329 mln revs 193 mln vs 303 mln avg units 8413000 vs 7557000 note net includes writedown of oil and gas properties of 210 ln dlrs vs 165 mln dlrs and writedown of geothermal property of 104 mln dlrs vs 105 mln dlrs
reserve bank governor gerhard de kock said south africa should have no difficulty whatsoever with the terms
the phlx is also opening an office in hong kong to serve clients in the region and educate financial markets about the advantages of currency options giordano said
house farm leader sees billion dlr budget cuts
brazil business leaders call for talks with imf
profits before provisions were sharply higher in part reflecting an 18 pct staff cut last year
the financing is to be replaced with permanent financing expected to come from banks
hanson trust plc hnsnl said it will sell its finlays confectionery tobacco and newsagent business to a specially formed company finlays plc for an estimated 169 mln stg cash
a further 100 mln bu of soybeans could be forfeited between september and end year
healthvest said its board declared a dividend for the final three weeks of the march quarter of 14 cts payable april 28 to holders of recrod april 15
there were seven grain ships loading and six ships were waiting to load at portland according to the portland merchants exchange
mining of eluvial surface material produced 25000 ounces in 1986 and is expected to produce 60000 ounces in 1987
terra mines ltd tmexf year loss
shadowfax resources ltd said it set a normal course issuer bid to acquire for cancellation up to five pct of its three mln outstanding common shares on the open market on the alberta stock exchange subject to regulatory approvals
saudi businessmen to discuss private sector
gencorp sues general partners
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
bellsouth corp bls 3rd qtr net
philip crosby however said it believes its december estimate calling for earnings per share between 10 cts and 15 cts on revenues of 11 mln dlrs was still valid
western trade sources told taiwan and the us have been holding talks on the currency issue but added it is not clear how far washington wants to see the taiwan dollar rise
hu said under the new treasury bills amendment bill all book entries of borrowings through treasury bill issues must be made in records maintained by mas
ramada inc is raising 100 mln dlrs through an offering of subordinated notes due 1999 yielding 11703 pct said sole manager salomon brothers inc
total soybean planted area for the 1986 87 harvest is expected to be a record 37 to 38 mln hectares up 108 to 138 pct from last years harvest figure of 334 mln hectares
making the loan partially in certificates which would not have to be paid back would be one option he said
first federal said the proposed move is also subject to execution of a definitive agreement regulatory approval and the approval of first federal shareholders
1985 period while imports dipped to 102 billio dlrs from 114 billion
fidelity fnf unit acquires california concern
the consumer likes to have a fixed rate instrument he said
ltv ltv wins 185 mln dlr pakistan order
the treasury said that unlike the previous offer the amount had not been prefixed
but a spokesman for the union earlier told the south african press association that miners had been locked out of the mine at the weekend after staging a strike in protest against being ordered to carry bags containing explosives as well as food for white miners
the non callable bond is available in denominations of 1000 and 10000 stg and will be listed in london
standard price differentials would be fixed for each origin similar to golf handicaps to determine the relative competitiveness of offers of various cocoas from different origins they said
a finance ministry official who was directly involved in monetary talks with other nations also said the us would never attempt to lower the reference range for the dollar against the mark or the yen
i regret not being able to attend an invitation by president weizsaecker to a dinner tonight because i am on a hunger strike lechin told reporters
gross fees of 1 7 8 pct comprise 5 8 pct for management and underwriting combined and 1 1 4 pct for selling
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
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
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
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
the bundesbank steered money market rates lower last month by cutting the rate on its security repurchase pacts and is unlikely to cap this move with a cut in leading interest rates in the near future they said
video said peters will continue as chairman and president of the company
losses in the nine months were reduced to 327 mln dlrs or 44 cts from 844 mln dlrs or one dlr
agriculture department analysts said next weeks figures will likely show a sharp drop in acreage to as low as 65 mln acres down 22 pct from last years plantings of 833 mln acres
non callable for seven years the issue is rated aa 2 by moodys and aa by standard and poors
consultations are the least that can be expected said one banker
and joseph g
thermo process tpsi acquisition terminated
policy management pmsc makes acquisition
what we have seen so far in improved rights under soviet leader mikhail gorbachev are promising trends he said
net result included an extraordinary recovery of 731 mln francs from provisions for currency fluctuations and 361 mln francs in depreciation of fixed assets
after the market had closed yesterday gm said it would buy back 20 pct of its common stock by the end of 1990
the notes are redeemable by van dusen after march 15 1992 salomon said
more of economic growth now depended on domestic consumption the cpb said but noting that higher margins set by domestic producers and importers mitigated the effect on purchasing power of lower import costs and deflation
henderson said the new us drug concern would basically act as a second sales force to double the exposure of its drugs to doctors
otsuki said economic growth is unlikely to pick up beyond levels experienced in 1986
the g 7 comprising the us japan west germany britain france italy and canada have agreed to monitor each others economic policies and from time to time apply peer pressure to persuade others to change their policies to a desired course they noted
he was commenting on a report which said corenes pora had hit seven pct of sri lankas plantations and may cause output to drop below its 1987 target of 143000 tonnes
refined palm oil traded in bulk us dlrs per tonne fob
the industrial enterprise project estimated to cost 3503 mln dlrs aims to support companies threatened by high inflation and adversely affected by increased competition brought about by bank supported trade liberalization measures
no injuries were reported at the lone rock coop facility
it was quoted at 75 at villa constitucion san nicolas and puerto alvear
banks excess reserves averaged 103 billion dlrs a day in the latest statement period down from 150 billion in the previous one
a further cut in rates would have little impact on the economy as banks are in any case reporting slack credit demand with companies swimming in liquidity chrobok said
the special meeting called to stop the prolonged slide in coffee prices was likely to adjourn sometime tonight without agreement delegates said
kaneb energy partners ltd kep 4th qtr loss
ecuadors initial proposal earlier this year was to make only one semi annual or one annual interest payment this year
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
ecuador announced an austerity program and a price freeze on key consumer goods as a result of last weeks earthquake which killed at least 300 people
harper and rows stock closed off 3 4 to 33 1 2 after rising 9 1 4 points yesterday
average shares 215 mln vs 133 mln in quarter and 189 mln vs 133 mln in half
commenting on the increase in funds pledged to indonesia which has been hard hit in export revenue due to the oil price collapse wardhana said i am happily surprised but in view of the seriousness of the balance of payments situation the amount is what we needed to cope he noted donors pledged to increase local cost financing as part of the aid package
japan bought 5000 tonnes of canadian rapeseed overnight at an undisclosed price for april shipment trade sources said
last monday the supreme court overturned a decision to cut texacos bond to one billion dlrs and sent the issue back to the texas courts
yemen
upland minerals and chemicals corp said it agreed to acquire consolidated brazilian mines international inc a public company with one mln acres of diamond and gold properties in brazil
the loss also includes 214 mln dlrs in accumulated foreign exchange losses the company said
present lower terminal values may be a reflection of the lack of renewed prompt offtake particularly from these two large consumers the report said
seven issues accounting for 013 pct of total state domestic debt would be redeemed by the caisse d amortisement de la dette publique the national debt amortisation fund a ministry statement said
its crude oil reserves dropped to 140 mln barrels from 158 mln barrels in 1985
campeau corp said it is not involved in the securities and exchange commissions administrative proceeding against allied stores corp which campeau acquired at the end of last year
shr 53 cts vs 46 cts qtly div 28 cts vs 25 cts prior net 747 mln vs 632 mln revs 108 billion vs 101 billion nine mths shr 178 dlrs vs 160 dlrs net 2444 mln vs 2197 mln revs 333 billion vs 315 billion note dividend payable april 10 to shareholders of record march 23
treasurys baker met west germanys stoltenberg today agreed to support louvre pact
dutch steel concern hoogovens groep bv said it had reached agreement with nv philips gloeielampenfabrieken pgloas on its takeover of cirex a specialised philips precision wax moulding unit
the agreement forged by ig metall europes largest union with 25 mln members and the employers would set the benchmark for settlements in other industries such as the public sector banks and federal post office
im trying to write legislation that will be signed by the president rep
the transportation department on friday rejected twas application to acquire usair on the grounds that the application failed to comply with department regulations by omitting necessary information
news corp said if the merger agreement were terminated under certain circumstances news would be entitled to a 16 mln dlr cash payment
brazil has no set target for its coffee exports following this weeks breakdown of international coffee organization talks on export quotas president of the brazilian coffee institute ibc jorio dauster said
the energy and commerce subcommitte rejected a plan offered by rep
the bank said the share sale price was likely to be announced on april 24 before the launch of a public flotation offer on april 27
canada january retail sales fall 01 pct after decembers 09 pct gain official
delegates earlier thought the meeting would end tonight but a further session is scheduled tomorrow at 1030 gmt to complete reports on stock verification
us exporters report 350000 tonnes corn switched from unknown to ussr for 1986 87
in many ways not least in terms of rare international cooperation the september 1985 new york plaza pact between the us japan west germany britain and france to cut down the value of the dollar was a historic one
reynolds said he considers it a repugnant device shareholders elected managements slate of 11 directors
it estimated the shortage at around 155 billion stg one adverse factor being the unwinding of a sale and repurchase agreement with the market having to buy back bills worth 542 mln stg from the bank
currency instability will not last sumita
prime rate is six pct
grain sorghum harvesting inched forward to between two and four pct of total planted area which this harvest is 123 to 130 mln hectares or 103 to 152 pct less than the 145 mln hectares planted in the 1985 86 harvest
uk money market given further 152 mln stg help
bradley will also be entitled to a one time additional rental payment of 30 cts a share upon bced entering into a space lease with a prime national tenant and a share in a portion of net cash flow from operations on the property
that speculation drove borg warner stock up 1 3 8 to 49 5 8 in heavy trading
equity said it arranged to acquire 4985000 ounces of silver at 740 dlrs an ounces subject to selling the shares to placer
the bank of england also apparently sold sterling in london when it neared 160 dlrs on wednesday they said
following the merger the two companies saw significant opportunities for growth in brokerage income and considerable scope for improved operating efficiency
norcros breaks off merger talks with williams
the bank of england said it has revised its estimate of todays shortfall to 350 mln stg from 400 mln before taking account of 103 mln stg morning assistance
there can be no further development for japan without this transformation americans and europeans took the report to heart and have looked in vain for clear signs of this historic change
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
the bank of england said it has satisfied its revised estimate of todays shortfall in the money market providing 261 mln stg assistance in afternoon operations
lawrence inc referring to both brazil and citicorp
intelligent systems master limited partnership said its board declared an initial quarterly dividend of 25 cts per unit payable april 10 to holders of record march 31
multi step had a 739146 dlr loss for the six months ended december 31
if you impose five pct on both buy and sell transactions tokyo participants in the gold market could be out of business he said
the semolina is for shipment during june 1987 it said
dress barn inc dbrn 2nd qtr jan 24 net
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
foreign banking sources in manila said on tuesday that the philippines had raised its basic interest rate offer to 7 8 over the london interbank offered rate libor but ongpin would not discuss details of the pricing negotiations
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 commerce department noted that loss of manufacturing jobs in march was concentrated in automobile electrical and electronic manufacturing
users said that since it signed a letter of intent to merge with security in november it has received a strong show of support for continuing the credit union ownership of the company with credit unions committing themselves to purchase additional users common
revenues fell to 24 mln dlrs from 33 mln dlrs
turkish greek aegean tension abates
prior year results for discontinuance of apparel segment and change in accounting for textile inventories
first toronto issuing debenture to dutch parent
the company said a definitive agreement is expected to be signed in april
the treasurys operating cash balance totaled 12670 billion dlrs on march 10 compared with 14490 billion dlrs on march 9
exports of goods and services rose 153 billion dlrs after a decline of 94 billion dlrs in the third quarter
the economys performance in the future very much depends on fiscal policy he added
the average price of rice fell 27 pct cotton was down 22 pct corn 18 pct wheat 16 pct and soybeans nine pct
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
taft broadcasting says it will continue to review options in response to latest bid
entertainment marketing was informed on june 25 by shearson lehman brothers inc acting on behalf of crazy eddie that it would be provided with certain information about crazy eddie it told the sec
operators are now waiting to see if the g 7 nations coordinate dollar buying intervention said soichi hirabayashi deputy general manager of fuju bank ltds foreign exchange department
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
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
bionomic sciences international inc bsii loss
xebec said it intends to continue streamlining its operations in light of the loss of business
the issues are designed to help curb the growth of the m 1b money supply which has expanded along with taiwans foreign exchange reserves the spokesman said
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
danworth attributed the results to an increase in the operating profit in the energy and advanced technology industries and commerical segments
top officials of leading industrial nations appear deeply worried that financial markets have ignored their efforts to coordinate policies which they believe they strengthened in talks last week
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
the navy would then have a carrier battle group of six to eight warships in the area at all times rather than part of the time as happens now the paper said
the dilemma for china in foreign borrowing as in other areas is to balance central control with giving reasonable autonomy to firms
exports fell to 504 billion rupees provisional in february from 534 billion final in january and compared with 390 billion in february 1986
scott did not disclose which investment dealers merrill lynch canada was considering acquiring but the toronto star quoted unidentified industry sources as saying serious discussions have already been held with burns fry ltd
last week gaf had purchased additional shares of the company for 40 1 8 dlrs increasing its stake in borg warner to 199 pct
mexico denied reports that british banks are resisting signing a 76 billion dlr new loan and rescheduling package
bilfinger und bergers us units took up 600 mln marks of its total foreign construction output
modulaire industries modx 4th qtr loss
the warrants represented unsecured unsubordinated liabilities of the borrower
debt forgiveness is difficult to design in any fair way and also will tend to discourage further investment and development he cited the recent multi billion dollar debt package for mexico the third worlds most indebted country after brazil
the transaction is subject to regulatory approval and a vote by equity minority shareholders at the april 23 annual meeting the company said
the issue will be lead managed by caisse nationale du credit agricole credit lyonnais and cie financiere de paribas subsidiary credit du nord
french finance minister edouard balladur said that the financial community is closer to arriving at a system of target zones for currencies despite the fact that little is being said about them
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
the new dividend rate represents a 32 pct increase over the 12 1 2 cts paid quarterly on a pre split basis
it said the rights will be distributed as a dividend and will become exercisable if a party acquires 20 pct or more of its common or begins a tender offer for 30 pct or more of its stock among other things
but few such specialists are going to sit back and wait until the action begins
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
as crude production also fell there is likely to have also been a decline in non reported stocks particularly at sea the iea said
the purchase price was about 84 mln dlrs represented by a ten year interest bearing note payable annually at 11 pct to be paid by the trust out of proceeds from the south african operations the company said
n d resources nudyo agrees to acquire atoka
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
aim telephones aimt sells debt to shareholder
soviet minister says trade boost up to french
the dealers said the speculation appeared to originate in japan
benetton is now holding talks with wall street firms about the possibility of receiving a quotation of its shares on the new york stock exchange
the broken hill pty co ltd brkns said it will merge its bhp minerals division and utah international inc into a single business unit under a common management structure
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
renewal of us ussr grain pact said uncertain
while a year ago he was considering taking his franchise operation east of the mississippi river pinola said because most of the franchise banks are now in the west expansion into the midwest must come first
freymiller trucking inc initial public offering of one mln shares of common stock including 250000 being sold by current holders at an estimated 12 to 14 dlrs each through alex
tennant bryant said his family would not sell its controlling share block so it would be impossible for an investor group led by giant group ltd to gain control of the company
idb communications group inc idbx year net
macandrews said it will promptly file revised tender offer material with the securities and exchange commission
led by the non residential sector canadian building permits issued in november rose 07 pct to 218 billion dlrs seasonally adjusted from 216 billion dlrs in october statistics canada said
no interest will accrue or will be payable on the debentures starting may 18 the computer and communications company said
but over the years the distinction between notes and the publicly quoted and traded bonds gradually broke down
the four institutes disputed the view that monetary expansion would slow of its own accord in 1987 as domestic investors switch liquidity into longer term capital market investments following lower interest rates
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
we have to study this more reagan said
it yields no calories and does not promote tooth decay
branch said he bought the stock as an investment but reserved the right to try to influence the company
shr 15 cts vs 55 cts net 557000 vs 2020000 revs 8872000 vs 13908000 year shr 60 cts vs 252 dlrs net 2198000 vs 9313000 revs 369 mln vs 557 mln
electrohome elxto to sell unit
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
am international said its old division are expected to benefit from recent new product introductions and the decline in the value of the dollar
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
he told reporters here the ec would not bow to pressure to reach an early seperate agreement on agricultural trade
poloron products inc year oper net
philippines applauds defeat of us labelling bill
equicor equitable hca corp said that the company will likely attain revenues in excess of two billion dlrs in its first year of operations
borg warner has been the focus of takeover speculation for about a year
american express axp seen in possible spinnoff
the american meat institute ame said it intended to ask the us government to retaliate against a european community meat inspection requirement
these missiles pack a fairly big punch he told 
it said us retail operations revenues rose to 2258 mln dlrs last month from 2027 mln dlrs a year earlier
they were also reluctant to veer from the principle that interest should be paid in cash not paper fearing that other debtor nations would emulate the idea bankers said
fed sets six day system repurchases fed says
but he said that without increased and faster lending from official institutions the nation could not rely on its export earnings to finance development and imports and also service its debt
he attributed the poor performance of brazils trade balance in 1986 to protectionist moves by industrialised countries the fall in the prices of basic goods and the crisis faced by several of brazils third world trade partners
chinas wheat imports in january were 218000 tonnes down from 393000 in january 1986 the china daily business weekly said quoting customs figures
the 1987 pro forma first quarter results include nonrecurring merger expenses of 47 mln dlrs
it is expected the issue will close on april 28
transamerica a privately held company that has been in bankruptcy since 1983 said its suit alleges that coastal and its chairman oscar s
does this mean that the fed abandons its current open market position no sullivan said
the accelerated program could provide additional unbudgeted revenue to boost industrial and research investment and spending on infrastructure such as the national motorway network
fiji makes sugar payment to get harvest started
chicago board of trade grain traders and analysts voiced a lot of interest in how farmers planned to handle their upcoming spring plantings prompting sales of new crop months of corn and oats and purchases in new crop soybeans in the futures markets
i think the offer is too low by at least five points said roffman who described caesars world as the operator of one of the finest casinos in the world sosnoff a new york investor already owns 133 pct of caesars worlds 303 mln shares
waste management ends tender offer for chemlawn
shipping sources say unidentified jets raid iranian oil platforms in southern gulf
we expect the successful cooperation between us and onomichi will pave the way for further cooperation with other japanese shipbuilders in the future lo said
uk money market gets 114 billion stg early help
indonesias palm oil output is expected to rise and exports to increase the us embassy said in its annual report on indonesias agriculture sector
france sets 75 billion franc t bill tender
each warrant is for a nominal amount of 1000 marks and the minimum purchase will be for 100 warrants
it said it expects the courier market to grow by about 25 to 30 pct a year
chrysler c seeks to raise share limit
it makes about 10 forklift trucks and a similar number of excavators each month in technological cooperation with mhi
a miti official said the ministry was not planning to call for production cuts beyond those already sought although it would continue to press chip users to buy more foreign goods
five groups apply to buy french telephone group
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
first union real estate investments fur net
no total price was given but the company said the proceeds of the sales would be used to fund pergamons expansion programme and worldwide acquisition stategy
ec presidency prepared to drop oils and fats tax
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
the company said its sut charges that langley missapropriated material non public information acquired in his capacity as a calmat director and used the information for the benefit of industrial equity
towle and co a st
great american first savings bank said the bank recorded gains exceeding 80 mln dlrs on sales of loans and mortgage securities valued at 11 billion dlrs
summit petroleum corp sells shares
it said local authorities must inform farmers of the price increases before farmers begin planting to encourage production of grains and oilseeds
increasingly large granting of option positions has been taking place
fed expected to set customer repurchases
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
s p may downgrade clark equipment ckl 
loans to non bank customers increased in december to 3874 billion dlrs from 3864 billion in november and 3744 billion in december 1985
it said that morgan stanley and co inc and salomon brothers inc hired in 1983 to advise southern and santa fe in their merger appraised southern as worth between 500 mln dlrs and 800 mln dlrs less than southerns own internal valuations
shr loss 139 dlrs vs profit 120 dlrs net loss 5306000 vs profit 7246000 six mths shr loss 18 cts profit 223 dlrs net profit 3259000 vs profit 142 mln assets 679 billion vs 542 billion deposits 399 billion vs 338 billion loans 492 billion vs 453 billion note 1987 six mths per share includes preferred stock dividend payments
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
exploration is currently pretty flat
shearson being as profitable as it is would have fetched a big premium in the market place
gulf resources and chemical corp said it has sold 9534633 shares of imperial continental gas association for 720 pence a share or 686 mln stg in a private transaction for a pretax gain of about 196 mln dlrs
the vote came as a stoppage by seamen entered its third week and as 55000 oil workers threatened action against the state owned petroleum company petrobras
dai ichi kangyo bank ltd was the other lead manager and nine japanese banks joined the financing
he said the universities were strapped for cash and that the association suspected the junior partner in the coalition government the liberal front party pfl of using education funds for projects which had helped their candidates in elections
shr loss 89 cts vs loss 21 cts net loss 3030548 vs loss 548442 revs 1519360 vs 1081915 avg shrs 3399993 vs 2725425
mobil mob long term debt down in 1986
bow valley industries ltd said it filed a preliminary short form prospectus in canada and the united states for a secondary offering of 228 pct of outstanding common stock or 9362197 common shares being sold by certain shareholders
he added these are private banks
nato ambassadors met in emergency session today to discuss tension between members greece and turkey over a disputed area of the aegean sea on the western alliances southern flank greek diplomatic sources said
turner and newall seeks 717 mln stg in rights
right now there are a lot of companies that keep so many things from their shareholders and one of them is san miguel he said
as previously announced creditors will receive 450 mln dlrs in cash 500 dlrs of 13 1 4 pct senior subordinated debentures and four common shares for each 1000 dlrsd of allowed unsecured claims
track 316 toledo 304 298 290 memphis 305 peoria 311 denver 262 263 evansville 299 cincinnati 296 minneapolis 265 271 370 baltimore norf phil
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
further excessive mark ups on securities transactions whether disclosed or not violate the rules of the national association of securities dealers inc and municipal securities rulemaking board it said
dome reported it took a 120 billion charge in the fourth quarter before a 305 mln dlr reduction in deferred income taxes for the decline in value of domes oil and gas properties
most of its companies performed well despite a slowdown in the us uk and australian economies in the first half
but although cutbacks announced by these states were politically significant and welcomed by opec they were insufficient in terms of volume he added
intense speculation the us might make a fresh eep wheat offer to the soviets has boosted grain prices significantly in recent trading sessions
ferc issues take or pay gas policy plan
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
astrotech international corp said its director s
qtly div 42 cts vs 42 cts prior pay april seven record march 20
dome mines ltd dm 4th qtr net
in fact the system has calmly withstood the suspension in part or in full of interest payments by countries owing about 150 billion dlrs of the regions total foreign debt of 380 billion
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
moodys said the company has lowered its financial leverage as well as its dependence on the retail sale of encyclopedias
it added that in case of a competing offer of more than 23 dlrs it had the right to match it
federal mogul corp fmo sets regular dividend
trans world airlines inc said it reached an agreement yesterday in federal court with usair group inc that prevents twa from buying additional shares of usair
near may in new york fell below one dlr in early trading at around 9910 cents per pound traders said
that information burlington said was provided by james ammeen a former burlington executive through painewebber group inc pwj ammeen who had worked for burlington for 23 years had as many as 12 divisions with 50 pct of burlingtons sales reporting to him
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
oil traders in the new york area said exxon corps exxon usa unit reduced the price it charges contract barge customers for heating oil in new york harbor 050 cent a gallon effective today
interest rates responded quickly to the deficit news with 90 day bank bill yields falling to 1642 1645 pct from early highs of 1650 and yields yesterday as high as 1665
cdc may sell falconbridge falcf debt
on february 20 brazil said it would suspend interest payments on 68 billion dlrs owed to foreign commercial banks
the purchase was part of a strategic plan to diversify and eventually match earnings from non copper operations and copper operations
it will supply 100000 tonnes at a rate of 9692 us dlrs a tonne as a first consignment by april 7
wiener enterprises inc wpb year jan 31 net
full name circus circus enterprises inc
foodarama supermarkets inc fsm 1st qtr jan 31
symbol technologies inc said it called 610000 outstanding five year stock warrants issued in 1985 and 1986 to reliance insurance co a subsidiary of reliance group holdings rel the company said cash proceeds from the warrants will be 6065000 dlrs
as such the loan for mexico could go down in the history books as the biggest but also the last jumbo
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
jm resources inc said it has acquired a 90 pct interest in dei acquisition corp from interfirst venture corp sam b
kurz kasch ups stake in component tech ctec 
shr loss 97 cts net loss 1364453 sales 737971 note company in development stage
the french federation of non ferrous metals groups various metal associations including the association of white metals
ike kerridge a hughes economist said in 1986 the united states replaced only about 40 pct of the gas it used and that replacement rate wont be any better this year he added we dont have the options we do with oil
canadas finding will strain the us canadian trading relationship could damage the future of us feedgrains support for the free trade negotiations and also negatively impact farm trade reform with other nations the council said
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
when the deal was launched the major players quickly suspended trading and refused to quote prices for their own issues brokers said
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
if the buffer stock operation is successful i doubt it will do anything more than stop the price from falling further and it will have no relevance at all to retail chocolate prices a european dealer said
swissair 1986 net 645 mln swiss franc vs 685 mln div 33 francs vs 38
yeutter blasts proposed ec oils and fats tax
rate on the preceding issue mid february was 905 pct
the us imposed the measures and withdrew most favoured nation mfn trading status from poland in 1982 in retaliation for suppression of the solidarity free trade union under martial law
subscriptions close april 15 and payment date is april 30
earlier an ibc statement said registrations for may the only month which was open today totalled 14 mln bags of 60 kilos to bring the total registered for the month to 205 mln
cocoa chairman works towards buffer compromise
in jamaica opec president rilwanu lukman who is also nigerian oil minister said the group planned to stick with the pricing agreement
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
since the beginning of 1984 the banking law has limited banks lending to 18 times shareholders equity plus reserves on a consolidated basis
haq said now the private sector would export cotton and rice along with the state corporations
moscow bought 68 mln tonnes of corn and 153000 tonnes of wheat during the third agreement year which ended last september and this year has bought one mln tonnes of corn
allwaste which preforms air moving and related services said it will swap shares of its common valued at 26 mln dlrs with the company it is acquiring
pessimism mounts over bahian temporao cocoa crop
closing is expected in the second quarter following approval of definitive agreements
in the first three months of 1986 the company lost 150000 dlrs
the international cocoa organization icco buffer stock working group meeting set for 1130 gmt today was rescheduled for 1430 icco delegates said
morgan guaranty ltd is the arranger for the program and the revolving credit and will act as one of the dealers for the commercial paper along with credit suisse first boston ltd
sherwoood said the companys losses were largely attributable to non recurring events and provisions
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
1985 results restated to reflect june 1986 two for one stock split
share adjusted for three for one stock split and recapitalization in december 1985
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
the ibc will total all the figures calculate each shippers participation and use this as a basis for allocation of individual quotas the ibc spokesman said
richard fritz director of international marketing at us wheat associates said he was confident an export enhancement offer would be made by the middle of this month
he also said a price freeze would be imposed on 20 basic consumer items mainly food staples while the price of petrol would rise by between 69 and 80 pct and bus fares would rise by 20 pct
the warrants give the right to subscribe to a second series of bonds a 200 mln guilder 65 pct six year bullet loan
the bank official said baker did not mean to talk the dollar down
usda estimates 1986 87 ussr grain imports 280 mln tonnes vs 260 in march 299 year ago
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
finance minister beshir omer quoted by suna said his government also rejected an imf demand to lift state subsidies on basic consumer goods
the tehran leadership have been quick to threaten vengeance after the us raids on the rigs one of which was destroyed
brennan said sales of womens sportswear were also excellent
manufacturers mhc puts brazil on non accrual
dyncorp dyn 3rd qtr net
new york state electric and gas corp said it has terminated its effort to acquire corning natural gas corp
actual output was estimated at 151 mln tonnes in 1986 87 due to failure of monsoon rains in 15 out of 35 meterological sub divisions of the country
sanwa bank ltd anwat has agreed to buy a two pct stake in oporto based banco portugues de investmento sarl bpi portugals largest merchant bank a sanwa official said
first financial said it would not pursue the offer if comdatas board rejected it
washington federal savings wfsl quarterly div
first financial ffmc acquires tel a data
japanese crushers buy canadian rapeseed
total erickson tlet buys mining property
haft and his son robert last year raised its initial bid for safeway stores by approximately 10 pct when safeway resisted
cts corp cts 3rd qtr oper net
a sinking fund starting in 1998 to retire five pct of the debentures annually can be increased by 150 pct at the companys option giving them estimated average lives of 205 or 145 years salomon said
bc resources also said dividends on its series 2 preferred shares and exchangeable preferred shares will remain suspended
shr profit 23 cts vs profit 49 cts net profit 241 mln vs profit 496 mln revs 7554 mln vs 7083 mln nine mths shr loss 84 cts vs profit 153 dlrs net loss 807 mln vs profit 1523 mln revs 119 billion vs 232 billion note per shr reflects payment of preferred dividends
i personally think the company is worth around 55 dlrs per share said pershing analyst richard henderson
hong kong banks raise prime one half point to 65 pct
we expect a common effort between the central bank and arab central banks and monetary authorities to create an arab fund to support and preserve the value of the currency when needed he said
manufacturers national mntl unit lifts rate
at end of 1987 and 1986 nine mth period average shares were 1725 mln and 1759 respectively after deducting for preferred stock dividends
the shearson stake is to be sold for 530 mln dlrs american express has said
based on a maximum of about 275 keycorp shares and a minimum of about 18 keycorp to be exchanged the agreement provides that if the average price of keycorp common is less than 2150 dlrs a share during the pricing period the agreement will terminate unless a new conversion ratio can be negotiated
the 15 1 2 year facility with a six year grace period carries fixed interest of 648 pct
sickle cell anemia is a painful inherited blood disease that causes the normally flexible red blood cells to stiffen into a sickle like shape
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
any excess proceeds will be added to working capital the company said
pioneer recommended in a statement that shareholders retain their stock pending the boards response once it receives full details of the csr offer
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
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
uk reserves show underlying rise in february
it also excludes from payment any output exceeding 20000 short tons raw sugar per grower
both schlang and morbelli noted that high growth rates had catapulted chemlawns share price into the mid 30s in 1983 but the stock languished as the rate of growth slowed
safeguard health sfgdo 3rd qtr net
baur said siemens had first made an offer last summer
haitis agriculture minister yesterday announced his department will permit the importation of 730 black creole pigs which had been banned from the island nation since 1983
texas american energy corp tae 1st qtr
pensions costs were reduced by 349 mln dlrs due to an accounting change
i prefer a move to target zones in which the major countries would determine ranges of 15 20 pct within which they would pledge to hold their exchange rates by direct intervention and as necessary by changes in monetary and other policies bergsten now the director of the institute for international economics said in a statement to a house banking subcommittee
mobil did not name any underwriters for the offering
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
shr 157 dlrs vs 160 dlrs net 557 mln vs 565 mln revs 37 billion vs 36 billion year shr 379 dlrs vs 411 dlrs net 1445 vs 1545 mln revs 140 billion vs 139 billion note 1986 4th qtr and yr per shr amts includes reduction of 15 cts per shr for establishment of reorganization reserves
rexnord rex sells unit to neoax noax 
the offer had been scheduled to expire at midnight october 21
more greenidge also said a world bank mission would visit georgetown this week to assess prospects for a rescue plan that would enable guyana to revive its economy
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
morgan stanley issues warrants into japanese firm
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 talks foundered on sunday afternoon when it became apparent consumers and producers could not compromise on the formula for calculating any future quota system delegates said
qtly div four cts vs four cts prior pay april 15 record march 31
president leon febres cordero said two days ago that ecuador an opec member would have to suspend crude exports for four months due to the quake
we support the freedom of navigation in the arabian gulf and the strait of hormuz the agency quoted zverev as saying
ongpin said the prepayments would hardly affect the philippines balance of payments position
but he warned that this assumption might not be justified
the bond matures on april 20 1995
allied signal inc said it completed the previously announced sale of its linotype group to commerzbank ag of west germany
for the full year it said it earned 284000 dlrs or 10 cts a share up from 271000 dlrs or 10 cts in 1985
i think it just fits in with their long range plans to increase their position in the us market dean witter analyst eugene nowak said
the bank of japan is satisfied with the yen around its current range a senior central bank official told reporters
although the figures were lower they were nonetheless at the top end of market forecasts
the association said time would show to what extent speculative foreign money and short term invested domestic money would distort money supply developments
noranda brunswick miners vote monday on contract
speaking to reporters after a speech to a toronto business group reuber said i think at this stage it is really too early to say very much about the brazilian debt situation but were pretty confident that things will work out he declined to comment on when such a settlement was likely
uk profitted from autumn intervention lawson
the estimated cost to the polish economy was originally devised several years ago by the institute of national economy an offshoot of the central planning commission
dealers said they were unsure what other methods could be used and they are sceptical anyway about how long the paris accord nations particulary the us will remain willing to prevent a further dollar fall given the continuing high us trade deficit especially with japan
market response to the treasurys 24500 billion lire offer of short term treasury bills was mixed with three month paper in strong demand but six and 12 month bills undersubscribed bank of italy figures show
he said the company was cutting back its advertising by about 30 pct this year
at least 16 missions would have to be sent within one year after enactment of the bill
zaire accepts tin export quota atpc says
the employment data suggests a gnp annual growth rate of about three to 325 pct in the first quarter said gramley
the 157 are among about 290 items on which washington has asked seoul to lower tariffs
the united states japan west germany france italy and britain are the major consumers
shirmax fashions ltd shxm 1st qtr net
schering plough corp said it obtained an injunction against natures blend products inc of due to trademark infringement on its fibre trim label
soy cake meal cont 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 usage thous short tons domestic 20000 19750 19090 19118 exports 6500 6350 6036 6008 total 26500 26100 25126 25126 end stcks 270 315 212 212 avgprice 145 150 145 150 15490 15490 note price in dlrs per short ton
later the bank proposed to allot only 30 pct of subscriptions causing a general outcry among traders
analysts said the 530 mln dlrs for 13 pct represents a price of 27 times book value
japan personal savings soar in 1986
the company said that the average price for oil and gas declined 41 pct in 1986 from the previous year sparking a 38 pct decline in its earnings from exploration and production
at that time the stock purchase portion was worth close to 80 dlrs per share but now that portion is worth 53 dlrs per share for a net price of 68 dlrs one analyst said
s and p noted that 60 pct of 1986s downgrades were concentrated in the industrial sector where the most negative factor was takeover fever that led to debt financed mergers and acquisitions and costly defenses to fend off takeovers
oper shr loss 15 cts vs profit 57 cts oper net loss 151000 vs profit 570000 year oper shr profit 208 dlrs vs loss 12 cts oper net profit 2122000 vs loss 127000 note net excludes realized capital loss 19000 dlrs vs gain 896000 dlrs in quarter and gains 1646000 dlrs vs 1331000 dlrs in year
treasury balances at fed fell on march 5
the returns on typical farms still favor participation in the usual acreage reduction programs and seeding the permitted acreage the usda report said
silver prices in march gained some 15 pct in dlr terms due to a weak dollar and silver is felt to be fairly cheap relative to gold montagu said in its monthly silver newsletter
for the past year the dollar in the parallel market is being sold at 25 to 100 pct above the official rate
oil production in ecuador was halted on march five when an earthquake damaged the countrys main pipeline from lago agrio at the heart of the ecuadorean jungle oilfields to the pacific port of balao
he said he believes gold prices will hold above the 400 us dlr an ounce level for the rest of 1987
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
indonesian wheat imports expected to fall in 1987
cnt said quantum bought the shares by exercising 15 mln dlrs in warrants bringing its total investment in cnt to 25 mln dlrs
excluding the effect of placing brazil on non accrual chemical said its net income would have been 982 mln dlrs or 43 pct below 1986 earnings
metromedia co said it purchased from time incs tl home box office inc a warrant to purchase 800000 shares of common stock of orion pictures corp opc the price for the warrant was 10 mln dlrs metromedia said
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
he said production from the new section could begin about the time prudhoe bay production begins to decline in 2000 without endangering caribou or other wildlife in the area
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
baker said it believes the vote was overwhelmingly in favor of the merger
armtek arm completes sale of assets
there is a 7 8 pct selling concession and 1 2 pct combined management and underwriting fee
the company said it is seriously considering the new offer but has also received an expression of interest for a possible merger into a fortune 500 company it did not identify that will be investigated at meetings to be held later this week
the stock rose 12 hk dlrs to 62 dlrs today
kramer said the current account was likely to run a deficit of about four billion schillings compared with a 26 billion surplus recorded last year
the sources said the 500 mln franc nine pct five year bond for gillette canada led by banque paribas announced yesterday had been on the april calendar and was brought forward
one dealer said a lot of exposure is being given to discussions and plans appear to be quite advanced
dutch sugar beet planting half finished
integrated said its subsidiary biopharmaceutics is negotiating with the same unnamed distributor to sell it five prescription drugs
american nursery products ansy 3rd qtr net
lme clarifies new aluminium contract details
it said warrants issued to the underwriter in its initial public offering were exercised in march for an aggregate of 169200 dlrs
uk money market receives 226 mln stg assistance
bzw a wholly owned subsidiary of barclays plc bcsl said in a statement the new company had been built on the parent companys former dutch subsidiary barclays kol
each 1000 dlr bond has ten warrants attached which are exercisable into k o p free shares at 50 finnish markka per share
south koreas m 2 money supply fell two pct to 334634 billion won in march from 340303 billion in february provisional bank of korea figures show
but the plaza accord did not set any target for the dollars fall he said
the itc voted 3 2 in favor of the anti dumping petition in its final ruling on the matter
qtr ended dec 31 shr profit nil vs loss nil net profit 858 vs loss 3957 revs 7372 vs 1500
imo delaval said its board declared an initial quarterly dividend of 14 cts per share payable april 24 to holders of record on april 6
the inflationary fears boosted gold bullion by more than 12 dlrs to a 1987 high of 43220 70 dlrs an ounce while the spike in interest rates pulled the dow jones industrial average down by 33 points to 2339
pye tvt designs and manufactures broadcast transmission equimpment specializing in television frequencies
varity vat sees improved results after 1st qtr
the federal reserve is not expected to intervene in the government securities market today several economists said
in february 1986 the rpi rose 04 pct giving a 51 pct year on year increase on the old basis
our optimism is based on our incoming order rates and the strength of our product lines the company said
very strong demand from all markets including recently japan has resulted in perus bismuth exports showing an impressive increase in january may 1987 perus state owned mining industrys marketing arm minpeco sa said
us consumer prices rose 04 pct in february
weatherford intl wii gets debt agreement
a 130 mln dlr world bank loan will be used to build 12 new berths incorporating container handling systems at the northeast china port of tianjin the agency said
proposed offerings recently filed with the sec
on september 20 the friday before plaza it was 242
canada trade rise seen as start of recovery
the facility will be made up of two components
as a result of the brazilian action private banks and major debtor nations redoubled their efforts to reach agreements stretching out debt repayments
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
bank of thailand floats new government bond
chinas grain imports will rise in 1987 because of a serious drought and increasing demand but will be not be as large as in the past chinese officials and japanese traders told 
fees total 1 3 4 pct with 1 1 2 pct for co managers
the talks broke down and although an ico executive board meeting starts in london today delegates and trade sources see chances of any near term negotiations on export quota distribution as remote
a resumption of full harvesting and assessment of damage is impossible until rains stop and a spell of a week to 10 days of sunshine dries the fields
dealers expect this weeks money market shortage to be around 12 billion guilders
a group of latin american and caribbean nations formally opposed trade legislation pending in congress saying it would curb their exports slow development and hinder its ability to repay foreign debt
it said the acquisition involves about 84 mln dlrs of net receivables
the central bank has been keeping extremely careful watch on exchange rate movements since last week he said
this brought total imports in 1986 87 ending march 31 to 109 mln tonnes against 125 mln a year earlier
texaco told us they would get back to us but instead they chose to go to bankruptcy court jamail said
yeutter stresses importance of trade talks
lifetime corp said retirement housing corp has accepted its previously announced acquisition offer
barber said the group which succesfully fought off a takeover bid by lloyds bank lloyl last year strengthened its capital resources during that year to just over three billion stg while total assets increased to 322 billion
gandalf did not specify the size of the interest
dixons group plc said it received a letter on march 19 from citicorp capital investors ltd part of the cyacq investor group making a rival bid for cyclops corp cyl proposing to drop the groups offer if dixons would sell cyclops industrial businesses to citicorp
he told reporters his department is still considering whether to allow partnerships and other entities to qualify for the subsidy
mines and energy minister subroto confirmed indonesian support for an extension of the sixth international tin agreement ita but said a new pact was not necessary
that is our approach in negotiations with the soviets he said
he said potential buyers might scrutinise chinas human rights record
ropak corp said it received and accepted about 456968 common shares and 527035 series a convertible preferred shares of buckhorn inc at four dlrs and 575 dlrs each respectively in response to its tender offer that expired friday and it now owns 344 pct of buckhorn voting power
shr 516 cts vs 347 final div 135 vs 125 making 190 vs 180 pre tax 133 mln rand vs 137 mln net 260 mln vs 172 mln tax 76 mln vs 42 mln att to outside shareholders 96 mln vs 53 mln pref div 1 mln vs same turnover 314 billion vs 256 billion div pay may 8 register march 27
reliable life insurance co rlifa ups dividends
significant downside potential still exists for the argentine crop the official said which will decrease the amount of additional corn that country can sell to moscow
volcker departure revives dlr inflation fears
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
perus attitude contrasts with that of mexico which followed a more conciliatory route and last week signed a 77 billion dlr loan package with its creditor banks
audio video said the suit also requests the court to order cyclops to immediately provide to all potential bidders for cyclops all information given to dixons
grain ships waiting at new orleans
zenith labs zen will report 4th qtr loss
no one has said the boycott will have a profound effect on international trade with south africa but it is an important political statement by the norwegian government he said
midlantic corp said it agreed to acquire county bancorp for about 23 mln dlrs in an agreement calling for county trust co a county bancorp subsidiary to merge into midlantic national bank north
shr 33 cts vs 60 cts net 11 mln vs 17 mln revs 117 mln vs 106 mln notefull name is suspensions and parts industries ltd
international banknote co inc ibk 4th qtr loss
although citicorp denied earlier rumors of major loan writedowns its warning that it may have to place some of its brazilian loans on non accrual unnerved many wall street investors
het comite claims the way the levy is applied does not take account of currency cross rates of exchange and can mean a compounder in one country being asked to pay a higher levy in its own national currency than it received down the chain from the original producer of the grain
expenses for personnel had increased 75 pct to 782 mln marks and others costs had increased 94 pct to 272 mln marks
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
japan in last ditch effort to avert tariffs
we have run this alternative proposal to the accounting firms
beet sugar production for 1986 87 is now estimated at 837000 tonnes five pct less than earlier forecast and down five pct from the previous season while cane output is projected at 4423 mln tonnes down four pct from previously forecast and five pct below the previous season it said
sand technology systems sndcf 2nd qtr net
1987 3rd qtr and nine mths earnings per share reflect payment of dividends on companys two series of preferred stock amounting to 22 mln dlrs
it said the filter products unit will be relocated from its plant in pennsylvania to a donaldson facility in illinois
jukardi speaking to indonesian reporters said the negotiations would determine whether the 85 15 production sharing split in favour of pertamina would be adhered to or altered in some cases as oil companies are asking for
pakistan is likely to import 100000 tonnes of refined bleached and deodorised palm oil between april and june this year vegetable oil dealers said
gardini commenting on callebauts remarks said the 630 mln dlrs agreed for the cpc acquisition would be paid at the date foreseen in the preliminary contract gardini could not reveal the date in question nor give any indication of the likely timing of an offering of shares in european sugar but it was announced last week that ferruzzis purchase of the cpc business was expected to be completed by september 30
benihana national said it currently owns and operates 16 teppanyaki style restaurants under license from its parent benihana of tokyo inc
auctions will not start until after the opening of export registrations
the benefits of such approaches may be substantial and may in the right circumstances be easier to achieve than new money packages he said
the agency said the wet weather in these areas provided ample moisture for rice planting and lessened the need for irrigation
world group pretax profit 321 billion marks vs 316 billion
metro mobile cts inc mmct first qtr loss
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
concurrent with the debenture offering lyphomed said it plans to sell an additional 30 mln dlrs of debentures in fujisawa pharmaceutical co ltd which currently owns about 30 pct of the companys common stock
triton energy corp said proven reserves of the villespedue oil field in frances paris basin were estimated at a total of 675 mln barrels on march one up 39 pct from 487 mln barrels on may 31 1986
he said the administration wanted to continue its policy of gradually reducing deficits through restraining government spending and promoting economic growth
argentine grain board preliminary figures show 1986 87 crop export registrations of grains and oilseeds in the week to april 8 were as follows in tonnes compared with the previous week and the comparable week a year earlier
mirtone international inc 1st qtr dec 31 net
brazils 1986 87 soybean exports were forecast at 250 mln tonnes vs 250 mln tonnes estimated last month
in february brazil had contracted to buy 125000 bpd from the saudis until june
the 10 3 4 pct notes will be redeemed at 10896 pct plus accrued interest from march 1 1987
the issue is non refundable for 10 years
employers in rotterdams troubled general cargo sector have decided to restart stalled redundancy procedures within a week employers organisation labour relations manager gerard zeebregts told 
in testimony to the economic commission of congress rubio said the main measure of money supply the broad based liquid assets in public hands grew at an estimated annualised rate of 17 pct in march the same as in february
a spokesman said the companys loss of 2115000 dlrs for the first 11 months as a public company did not meet an income condition on the loans leading to the suspension
bhpgms portfolio will include several australian mines 30 pct of telfer 100 pct of ora banda and browns creek and 20 pct of the new boddington development
the staff of the federal securities and exchange commission sec plans to recommend that the washington public power supply system wppss be charged with securities fraud in connection with its july 1983 default on 225 billion dlrs of bonds a wppss official told 
last week the automated ticket systems supplier reported a loss of 12 mln dlrs for the 1986
in addition there would be a pre notificaton requirement that an investor intended to aquire three pct that would have to filed with the sec
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
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 55513 vs 56208 total reserves 56538 vs 57705 non borrowed reserves 55859 vs 57281 monetary base 244199 vs 244925
stephan co ftc year net
the billes control 60 pct of canadian tire common
over an informal barbecue at a farm outside sao paulo owned by millionaire entrepreneur matias machline sarney met more than 20 businessmen for discussion on brazils economic crisis
american express axp may sell shearson stake
istat said there were 20 working days in january the same as december but one fewer than january last year
the timing is favourable for japanese parties to buy up potential overseas businesses especially in the us japans largest market and where political risks are minimal a takeover specialist at one trading company said
the issue has denominations of 1000 guilders
noting that georgia powers share of the vogtle increase is 313 mln dlrs southern said this will result in a charge against earnings of 177 mln dlrs after taxes
the key prerequisite is clearly in the hands of brazilian authorities he said
a spokesman told the ministrys view is that international investment flows ought to be free and that such flows are of increasing importance in line with the growing closeness of us japanese economic ties
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
ual ual offering 55 mln shares of common stock
6 at the same time group members said they held short positions in the stock totaling 830000 shares
bacob finance nv is issuing a 50 mln australian dlr eurobond due july 5 1990 paying 14 3 4 pct and priced at 101 3 8 pct lead manager goldman sachs international corp said
peru guerrillas interrupt train route to mines
some gilt traders are forecasting a half point cut in the base rate from the current 11 pct as early as tomorrow
recently the columbia gas system inc pipeline subsidiary said ferc denied on procedural grounds and without prejudice a proposal to include these costs in the companys most recent purchased gas adjustment or pga filing
ubs unit issues 15 billion yen eurobond
m
shr loss 51 cts vs loss three cts net loss 7041000 vs loss 467000 rev 1389 mln vs 1314 mln 12 months shr loss 64 cts vs profit 46 cts net loss 8843000 vs profit 63060000 rev 5589 mln vs 5567 mln note net loss for 4th qtr 1986 includes charge for restructuring of 26 mln dlrs after tax or 19 cts a share
in line with the views of other top administration officials he favored marketplace determination of takeover battles over new federal regulations
ecuadors deputy energy minister fernando santos alvite arrived here last night for talks on further venezuelan assistance to his countrys oil industry following last weeks earthquake officials said
australian exports helping to boost gdp
the transaction is subject to a definitive agreement and government and board approvals
qtly div 15 cts vs 15 cts prior pay april 30 recrod april nine
the cbt originally had approved a yen bond futures contract in december 1986 but the sec rule precluded the application
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
but it also said the two companies were not able to agree on mutually satisfactory final terms and conditions
the june 25 buyout proposal remains open until july 17
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
that left growth for the full year at 31 pct which is down from 1985s four pct increase
neither brazil the largest producer nor the us the largest consumer are ready to be flexible delegates said
nakasone but not sumita is due to attend the summit
italys overall balance of payments showed a surplus of 1461 billion lire in february 1987 compared with a deficit of 1145 billion in january provisional bank of italy figures show
this outburst came after amato warned that companies might start disobeying government regulations on price controls
the transaction is expected to close on or before august 31
the 11 member cpa include the worlds top three producers of ivory coast brazil and ghana and accounts for around 80 pct of world output
the swiss franc notes will be redeemed july 12 at 1005 pct
a savings department spokesman refused to comment on this interpretation saying the suspension of the issue was merely a reaction to the recent fall in uk interest rates which had pushed yields on national savings bonds way out of line with the rest of the market
trelleborg had previously announced it was exercising an option to acquire up to 65 pct of bolidens voting rights
moodys downgrades bankers trust affects 17 billion dlrs of debt
there will be two co leads
all kodak poy production has been at carolina eastman since last year
no reason was given for the recent purchases
bangladeshs payments deficit narrows in october
loh said the banks participation in the stock market has increased business transactions and provided long term growth for the market
ec officials said while the lack of growth may have been due in part to the icy weather which gripped large parts of the ec in january it also reflects a worrying trend
the company said the transaction is subject to approval by shareholders of valor and is expected to be completed within 40 days
plans are in the engineering stage with completion expected in mid 1989 the company said
the annual rate rose to 347 pct in march compared with 317 pct in february and 342 pct in march 1986
after citibank raised its prime rate by a quarter point to 7 3 4 pct the first change in the rate since last august the dollar started to advance and reached a high in tokyo of 14750 yen up two yen from tuesdays new york low
the department said it may buy the wheat valued at 85 mln dlrs the corn valued at 15 mln and the tallow valued at 20 mln dlrs between march 24 and august 31 1987 and ship it from us ports and or canadian transshipment points by this september 30
if everything continues on schedule work on the ft
presumably a potential buyer of the dome mines shares would seek some type of relief on the companys debt obligations connected with dome petroleum gobert said
saudi arabias oil minister hisham nazer said riyadh would not agree to a cut in oil prices and would not accept a mad increase that would drive consumers away
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
cotton season begins august 1
it added that the proposal has been referred to its board of directors for consideration
it said it authorized smith barney harris upham and co to seek a business combination with third parties
despite the apparent differences in stakes offered the cable spokesman said the two offers appeared to be essentially the same
newfoundland capital to issue debentures
the present interpretation of the credit law limits banks maximum lending to 18 times eligible capital reserves plus equity capital but sets no restraints on securities holdings
this declined 12 pct in 1986 following a 24 pct improvement the previous year
fieldcrest fld sells convertible debentures
he told al riyadh newspaper saudi arabia follows a balanced petroleum policy
it said it might add to its stake or sell some or all of it
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
we will be glad to have him here but thats not going to affect a decision thats already been made yeutter said
it now holds 1499 pct the maximum allowed without foreign investment review board firb approval
mulford says germany japan should do more
brazil owes it to its customers to make its intentions know
the loan is convertible into an additional 229463 dim shares it noted
demand has been surprisingly good in 1987 in construction and other areas yearley said
its focus is to force president reagan to retaliate against unfair foreign competition and to make it easier for us industries to win temporary relief from surges in imports
vietnam to resettle 300000 on state farms in 1987
bundesbank credit policy changes unlikely
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
its life activities also grew 39 pct with better underwriting results in the second half
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
german chemical industry sees lower profits
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
shr 26 cts vs 18 cts net 1409551 vs 985470 revs 384 mln vs 225 mln nine mths shr 64 cts vs 47 cts net 3477188 vs 2558625 revs 888 mln vs 639 mln note earnings per share adjusted for 3 for 2 stock split distributed on september 4
marathon petroleum company a subsidiary of usx corp x said it raised the contract price it pays for three grades of crude oil effective march 6
fidelcor ficr completes sale of unit
crude oil prices rallied today moving over 1700 dlrs a barrel because of saudi arabias determined effort to support prices analysts said
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
some 7000 miners go on strike in south africa
universal health realty uht 1st qtr net
us sells 3 mo bills at 572 pct stop 574 pct 6 mo 580 pct stop 580 pct
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
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
this has had a definite influence on the financial form of the rand a dealer said adding that at present demand is slightly in excess of supply
uk industrial production rose a provisional 04 pct in january after a 06 pct decline in december 1986 figures from the central statistical office show
the increase riased its posted price for light sweet crude oil to 2195 dlrs a barrel from its march one level
the article was published to coincide with a three day meeting here of the inter american development bank iadb baker is the chief architect of the us strategy on third world debt
he said the company anticipates approval in japan the us italy spain and the uk for its ulcer treatment drug cytotech
but dealers said the longer term outlook for the dollar remained bearish
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
standard and poors corp said it affirmed the ratings on 19 billion dlrs of debt of chrysler corp and related entities
perus total foreign debt on december 31 1986 was 1446 billion dollars the central bank said
the bundesbank could hold down money market rates with the highly effective instrument of sale and repurchase transactions it said
securities law requires takeover target companies to promptly disclose such things as the sale of major assets
coastal could not be reached for comment
on the basis of data recently recalculated by the national statistics institute istat italy had a trade deficit in 1986 of 3722 billion lire the report said
businessland busl sells convertible debentures
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
portugal may have purchased a 30000 tonne cargo at its tender today for up to 43000 tonnes of number two yellow corn 145 pct maximum moisture for arrival by april 30 shipment via gulf ports us exporters said
non oil imports totalled 279 billion dlrs compared with 191 billion in february last year reflecting the large ammount of investment goods entering the country with the recovery of the spanish economy the bank of spain said
copper higher grade nil 2526425 standard cathodes nil 6325 grade a 2429200 nil standard copper 17050 nil lead 443850 538750 zinc high grade 598550 304825 silver large 10350000 17400000 small nil 2000 aluminium 1693375 1301850 nickel 62004 65040 cumulative figures for january march were as follows copper higher grade nil 7703625 standard cathodes nil 24700 grade a 6455525 nil standard copper 62075 nil lead 1567000 1979750 zinc high grade 1746675 1356400 silver large 41770000 65620000 small nil 8000 aluminium 4984650 4974950 nickel 199944 179328
emcor completes sale of stock to investors
they also regarded the treatment of credit exposure to local governments and other public sector entities and of exposures undertaken by banks that are subsidiaries of banks
the yugoslav power industry yesterday floated its second issue of domestic bonds in three months after an experimental issue in january official sources said
australian prime rates have now retreated from a recent peak of 19 pct in october in line with declining money market levels
one major french bank said it bought between five and 15 mln dlrs for the central bank and sold yen at 14928 to the dollar
saudi banks face further lean period
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
chinas first securities market opened last year in the northeast city of shenyang and since then others have opened in shanghai peking and harbin
gillette rose three to 40 today following a gain of three yesterday
wormald said its stake will represent 999 pct of holmes existing issued shares and 909 pct of the enlarged capital
the payment date is june 1 1987
fujitsus acquisition of fairchild would have given the japanese computer maker control of a comprehensive north american sales and distribution system and access to microprocessor technology an area where fujitsu is weak analysts said
the consumer price index base 100 for 1976 rose to 7720 from 7613 in february and compared with 7034 in march 1986
the company said it authorized a program to repurchase between 500 mln dlrs and 10 billion dlrs of ics common stock from time to time when conditions warrant
phillips is also pursue opportunities in china where silas said he was seeking a modification of terms with the chinese government to make oil discoveries in the offshore xijang fields commercially viable in the us silas said phillips hopes to get the point arguello calif field started up by the fourth quarter
proposed offerings recently filed with the sec
the gunma bank ltd is issuing a 50 mln dlr convertible eurobond due march 31 2002 paying an indicated 2 1 4 pct and priced at par lead manager nomura international ltd said
the dutch spokesman added the weekly export tender policy and prices are squeezing the european sugar industry and this is the only way in which they can really register their protest
anheuser busch last year made a 150 mln dlr bid to buy san miguel brewery ltd a hong kong listed company which is 6965 pct owned by neptunia corp ltd a san miguel corp subsidiary
hemingway and certain members of the hemingway family who own about 30 pct of commercial securitys outstanding shares have agreed to vote in favor of the transaction and not dispose of their stock
each of the 17 current foreign securities houses in the syndicate underwrites 007 pct of each issue they said
the crown has been bolstered by high norwegian interest rates currently around 16 pct in the money market and better than expected economic indicators which showed a sharply reduced foreign trade deficit in may and inflation stabilising around the current annual rate of 10 pct
canada sets oil industry aid package
the business daily gazeta mercantil reported that in many sectors of the economy there was a real fear that production lines would grind to a halt next month
us federal home loan banks set offering totaling 2135 billion dlrs
italys net official reserves fell to 67110 billion lire in may from a previously reported 68455 billion in april the bank of italy said
gaf gaf studying borg warner bor plan
kidder unit sells cmos including floaters
the 30 cts dividend represents a 15 pct increase over prior quarter
financial benefit group inc fbgi year loss
mentor specializes in public sector accounting systems
the figures cover around 95 pct of rotterdam traffic in the products concerned
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
president reagan opposes protectionist legislation but agreed to support a trade bill when it became apparent that opposition democrats would pass such legislation
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
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
dividend 100 francs per registered share vs 80 francs and 10 francs per participation certificate vs eight
window dressing operations by some japanese companies who were selling dollars and buying yen before the end of the japanese fiscal year on march 31 were undermining the us currency
appalachian power said it will redeem the bonds at par plus accrued interest
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
healy projects gm will earn five dlrs a share in 1987 and 550 dlrs in 1988 compared to 1986 earnings of 821 dlrs
delegates will also be briefed on arrangements for an international cocoa research conference due to take place in santo domingo in the dominican republic next month cpa secretary general ds kamga said
khoo owned most of the banks equity before it was closed in november by the brunei government after some of its officials were charged with mismanagement
within the broad money total non bank financial intermediaries rose by 02 pct from a revised decline of 02 in december and a previous januarys 08 pct increase
sharp rises in the pounds value could be checked initially through bank of england intervention but eventually the gains would force the bank to cut interest rates rates again
the commerce department said wage and salary incomes were up 156 billion dlrs in february after an 86 billion dlr rise in january
rodriguez said the region needs trade to continue development
metro mobile mmct declares stcok dividend
but traders and growers said they were against the new pact because its buffer stock mechanism was likely to interefere with free market forces and prevent sharp rubber price rises
the chicago missouri will employ 625 workers and start operation immediately upon closing of the transaction
hallwood group inc hwg 2nd qtr jan 31 loss
buehrmann tetterode said its international expansion will be aimed at the united states in particular adding that the company was pursuing wider geographical spread of assets and profits
he said in response to a reporters question after the banks annual meeting that money market rates could decline further but i dont think the fed is going to encourage that as long as the exchange markets are as volatile as they are on the other hand he said that barring a collapse of the dollar he did not see rates going much higher
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
users also said it is in the strongest financial position in its 24 year history
one dealer said he had the feeling japanese companies had been asked by the bank of japan not to sell dollars at this point but some while sticking to the letter of that request were offering dollars forward today rather than lose out if the dollar fell further
norway will extend its 75 pct cutback in planned north sea oil output in support of opec from july 15 until the end of this year oil ministry spokesman egil helle told 
i can do a better job of convincing the congress to leave our door open to imports if more of our trading partners open their doors wider he told the group which included representatives from australia canada japan new zealand and the european community
japan development bank issues 150 mln dlr eurobond
indonesia hopes to boost its non oil exports to make up for oil revenue lost because of lower prices
even though the prime rate cut was good for the dollar foreign exchange traders are not convinced the dollar decline is over gibbs said
robintech inc the plants former owner will split the cost
signtech inc nine mths jan 31 net
he said there were encouraging signs that some foreign investors were again taking a more realistic view of south africa
in its most recent financial year bonds which was purchased by hanson trust plc in its acquisition of imperial group plc in april 1986 made 960000 dlrs pre tax profit on sales of 136 mln dlrs
the index of lagging indicators which measures past economic activity rose 05 pct in january after a decrease of 05 pct in december and an increase of 02 pct in november
production of cocoa in indonesia increased to 32378 tonnes in calendar 1985 from 10284 tonnes in 1980
the dollars swift fall had raised questions about whether the fed would let short term rates ease
yesterday prices for the spot may contract fell below 100 dlr a lb for the first time since august 1981 after the international coffee organization did not place new export quota discussions on its current agenda
it said lead underwriters are goldman sachs and co and alex
dealers said federal funds were trading at 6 3 8 pct when the fed announced the operation
cocoa working group meeting delayed
the selling concession is 1 1 2 pct while management and underwriting each pay 1 2 pct
mulford noted that half of west germanys economy was affected by international developments
he said there also would be benefits from integrating new zealand investment activities
the benchmark is based on short term interest rate movements while the base rate is tied to longer term trends
the transaction was conditioned on the arrangement fo financing by today
accord said in sight in brazil seamens strike
wilhelm christians joint chief executive of west germanys largest bank deutsche bank said that following recent meetings with baker he believed that the us was still committed to the accord
on the other hand does entertainment marketing have the management talent to run it and will the crazy eddie people leave its a risky strategy for entertainment marketing said analyst eliot laurence of wessels arnold and henderson a minneapolis brokerage
but sullivan said the dollar has been steady since late april
egypt buys 46000 tonnes of sunflowerseed oil
africa paid 13 billion dlrs to service its total foreign debt last year and by 1990 annual service payments are expected to rise to between 16 and 24 billion adedeji said
parent turnover fell 85 pct to 1872 billion
cycare cycro buys control data cad unit
the stock split requires shareholder approval of an increase in authorized shares of common stock to 100 mln from 25 mln and an increase of authorized shares of preferred stock to five mln from one mln the company said
shr 217 dlrs vs 142 dlrs net 24907000 vs 16117000 nine mths shr 405 dlrs vs 375 dlrs net 47105000 vs 42874000 assets 966 billion vs 925 billion deposits 806 billion vs 780 billion loans 8425 mln vs 7111 mln
italy relaxes restrictions on lira imports
robert arnott australias delegate to the general agreement on tariffs and trade gatt made the appeal at a special annual meeting which reviews the 1955 us waiver
like dated interbank deposits were quoted today at seven 6 3 4 pct
bankamerica also said that it had placed 180 mln dlrs of loans to ecuador on non accrual which will reduce first quarter earnings by about five mln dlrs
shr 42 cts vs 39 cts net 123 mln vs 9382000 sales 1720 mln vs 14600 mln avg shrs 295 mln vs 243 mln year shr 163 dlrs vs 135 dlrs net 457 mln vs 300 mln sales 6655 mln vs 4462 mln avg shrs 280 mln vs 223 mln note translated at 1339 italian lire to dollar
general instrument corp grl 1st qtr may 31
in 1984 a group of 17 us banks led by citibank converted 183 mln dlrs of debt from the cervecera nacional into 30 pct of the beer companystock
gilberto arango president of the exporters association said in an interview that colombia the worlds second largest producer was in a position to withstand a prolonged absence of international coffee organization ico export quotas
the reduction in borrrowing needs was brought about by an eight billion dlr decline in the governments financing requirements a run down in ottawas cash balances and generation of 23 billion dlrs from foreign exchange transactions
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
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
two major uk clearing banks announced they will offer a total of 800 mln stg in new mortgages at a fixed interest rate of 102 pct for the first three years below current bank base lending rates of 105 pct
the females lay up to 2500 eggs each
it is making the tender offer through nm rothschilds
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
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
keeping money supply developments in check is not always synonymous with raising interest rates especially when excessive liquidity due to inflows from abroad rather than growth in bank credits is the cause of rising monetary holdings of non banks mueller said
the right is exchangeable into warrants upon transfer to a security pacific non affiliate schwab said
prior year net includes 120000 dlr loss from discontinued operations
king fahd said saudi arabia the worlds largest oil exporter was adhering to decisions made at opecs december conference which set a 158 mln bpd output ceiling for the first half of 1987
gemini food corp six mths january 31 net
in its report on us export markets for us grain the department noted senegal had bought 100000 tonnes of wheat under the export enhancement program last november but local opposition from millers accustomed to french wheat has been delaying deliveries
us business loans fall 896 mln dlrs in june 10 week fed says
eastern distributive beef trade weekly usda
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
cablevision systems cvcc buys stations
aluminium is sold in dollars
the us imposed 100 pct import duties on personal computers colour televisions and power tools alleging that japan had violated last septembers bilateral agreement by selling computer chips at below fair market value
now it exports corn from the northeast but it imports wheat
the process of chinese accession will not be accomplished overnight the gatt rules were not designed for a large economy of the chinese type shultz said
it said the transaction is subject to a definitive agreement shareholder and regulatory approval
he declined to comment on the allegations in the lawsuit
portugals gdp forecast to grow four pct this year
finnish unemployment was 67 pct in december last year compared with 68 pct in november and 61 pct in december 1985 the central statistical office said
istituto mobiliare italiano said it was not in a position at present to formulate proposals on an imi bond issue convertible into fiat spa fiatmi shares or carrying warrants for exercise into these shares
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
the present government which came to power in 1949 has never acknowledged the debt
we are aware of the negative forces trying to manipulate the operations of the market but we are satisfied that the fundamentals exist for stable market conditions he said
this will provide a stable long term supply to the refinery at competitive costs thereby assuring the economic viability of the plant a statement issued by union pacific said
cooperative energy development corp said two exploratory oil wells in the zama area of alberta tested 1020 and 950 barrels a day and will increase the companys daily oil production by 30 pct
sgl officials could not be reached for comment
he was quoted by pap as saying that poland would meet its financial obligations to the united states but not in a short time and not without a cooperative stand on the part of its foreign economic partners he stressed that the us had a particular opportunity to play a part in the cooperative policy of polands partners interested in the settlement of polish debt putting it more sharply one senior banking official blamed washington for obstructing talks with the world bank imf and paris club of western creditor governments in recent years and said it should now play a more positive role
handy and harman said 22800000 ounces of silver were used to produce coins last year up from 12700000 ounces in 1985 with the demand getting a big boost from the production of us coins including the american eagle
the usda reported high placements in february which may weigh on back months of cattle futures
police say the death appears to have been suicide
the company said an unexpectedly large volume of customer inquiries at its spitz inc simulation products subsidiary has caused higher than expected business development outlays
it is very far from certain that it will go through sir roy denman head of the ec delegation in washington told reporters before he addressed the foreign trade association
us congressman introduces reagan sugar bill
us treasurys mulford reaffirms g 6 agreement
the group said it currently holds 18 mln shares or 176 pct of the total outstanding following purchases of 84300 shares march 18 april 1
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
shr 45 cts vs 61 cts net 504000 vs 683000 nine mths shr 183 dlrs vs 242 dlrs net 2043000 vs 2183000
the agency said it will study the effect new products may have on upjohns earnings potential
asturiana has a three year option to purchase 25 pct of the austmet group to be priced on an independent valuation at the time of exercise metal traders said
in a wide ranging discussion on us trade matters baldrige also repeated us concern about an attempted takeover by japans fujitsu company of fairchild computer
in the united kingdom and ireland it was rather cool with heavy rainfall in places which has delayed beet growth
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
1986 nine mths includes loss 2477 mln dlrs from write down of petroleum service assets and other restructuring costs
eib issues 300 mln danish crown bond
delegates said negotiations now focus on the degree to which price adjustments should be automatic
barclays bank plc bcsl and midland bank plc mdbll said they are cutting their base lending rates to 105 pct from 11 pct
the period saw an upward trend in yields although this was countered in the argentina the us and australia by lower acreages
shr 31 cts vs 28 cts net 119 mln vs 109 mln revs 1672 mln vs 1540 mln
jmb realty trust jmbrs 2nd qtr feb 28 net
belden and blake energy co bbe 4th qtr
the national association of securities dealers inc
no reason was given for the recent sales
uk reserves rise underlying 1785 billion dlrs in march official
a handful of market giants have frightened the retail away with this aggressive manipulation
the main measures of the employment program give employers financial incentives to offer short term work contracts of at least two years and stress retraining to help the long term unemployed return to the labour market
skandia international buys stake in nevi baltic
southmark corp said it acquired berg ventures inc which manages 84 apartment complexes with over 18000 units and 12 shopping centers stretching from new jersey to florida that are controlled or affiliated with berg harmon associates
the world bank has played a prominent part in designing this dramatic blue print and in selling it to an often sceptical public which fears inflation and lower living standards
corn use totalled 993156 tonnes against 120 mln in december and 896718 a year earlier and its compounding ratio was 481 pct against 466 pct and 431 pct
orbit oil and gas ltd orbto 1st qtr net
s p upgrades consumers powers senior and subordinated debt
horn and hardart co hor 4th qtr net
what that means is that the poor peasent making 700 dlrs a year should drop it to 500 dlrs says one source
lb rheinland pfalz issues australia dlr bond
the group said it wants the information so it can contact shareholders on issues including election of an opposition slate of directors to the board and other proxy contests
ralph klopfenstein usda deputy administrator for commodity operations told we do not anticipate any changes to be made in the texas gulf differentials used to calculate posted county prices for corn
usair group inc said piedmont aviation inc has agreed to be acquired for 69 dlrs per share
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
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
vw increased nominal capital by 300 marks last year to 15 billion marks with the result that its total dividend payment on 1986 will be 306 mln marks compared with 240 mln on 1985 since the new capital was in preference shares
if and when a final position comes out of the icco talks one will still have time to put on positions
williams cos said a fourth quarter charge of 250 mln dlrs from discontinued operations and writedowns contributed to a 1986 net loss of 240 mln dlrs or 697 dlrs a share against earnings of 316 mln dlrs or 92 cts in 1985
the health and the growth of world trade requires that the new development of developing countries losing their share of world trade be arrested and reversed he said
treasury balances at the federal reserve rose on feb 27 to 3482 billion dlrs from 1538 billion dlrs the previous business day the treasury said in its latest budget statement
the maximum rebate was 46496 ecus per 100 kilos for 118350 tonnes of sugar down from 46864 ecus the previous week but the change is explained by world market conditions
as previously reported the csr offer involves a complex put and call option deal with moniers major shareholder redland plc rdldl which gives redland the choice of accepting the csr offer for its 498 pct stake or moving to 501 pct within six months of the bid closing
clark copy international corp said it acquired a majority interest in datagraph gmbh of lich west germany
this is not an unsuccessful operation but weve had more bickering than ever one senior banker commented
egypt rejected all offers at a vegetable oil import tender yesterday for unspecified amounts of sunflowerseed oil and or cottonseed oil traders said
turkey was reported this week to have bought around 100000 tonnes of whites while india had further whites purchases of two to three cargoes for mar apr at near 227 dlrs a tonne cost and freight and could be seeking more
the bonus was made to cargill inc and will be paid in the form of commodities from ccc stocks
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
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
united companies uncf declares stock dividend
it downgraded 50 companies affecting 61 billion dlrs of debt and upgraded 25 companies affecting 9 billion dlrs of debt
other income 629 mln vs 1005 mln shrs 22316 mln vs 18368 mln
the stock market has appreciated sharply and discounted future corporate earnings extensively corchard said
he will meet uae president sheikh zaid bin sultan al nahayan and oil minister mana said al oteiba
the company is especially attracted by the scale and depth of us money and credit markets and wants to establish a firm foothold there the spokesman added
the house estimated that the industry last year withdrew 20000000 ounces of silver from stocks to bridge a supply deficit caused by a consumption rate of 403000000 ounces and production level of 382000000 ounces
the tanker is owned by the national iranian tanker co
esquire radio and electronics inc ee 4th qtr
henley group said has close to five pct or 79 mln shares of santa fe southern pacific as investment
nippon signal swiss franc notes set at 1 1 4 pct
henkel to increase stake in clorox clx 
brazilian planning minister resigns
upland also said the previously announced acquisition of aslaminas aslambeck mining corp a minas gerais brazil mining concern will produce revenues of 96 mln dlrs a year for the next 25 years
this compares with yearend 1985 proved reserves estimates of 264 mln barrels of oil and 786 mln mcf of gas permian said
the association said rice growing areas in nakhon ratchasima chaiyaphum khon kaen and mahasarakam were especially affected by low rainfalls in the second half of 1986
allegheny international inc which has agreed to a merge with a jointly formed first boston inc affiliate in a deal worth 500 mn dlrs said shareholders of its preferred stock have filed a class action complaint against the company
we dont want that
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
the company has manufacturing facilities in dallas and phoenix
the rash of advertising to solicit new business has helped homebuyers to become even choosier about loans and lenders concede they are being forced to undercut each other still more
ordinary shares rose 20 lire to 12880 today but were well down from 16600 on september 23
no significant improvement was made in economic results it said adding that some successes were reported in readjusting the industrial product mix in the last quarter of 1986
he estimated that by 1990 icis pharmaceutical division would account for about 30 pct of total company profits
shareholders approved the reverse split in october
all three were underwritten by drexel which is part of an elite group of wall street firms that have brought these asset backed deals to market since early 1985
amoskeag amos proposes class b shares
braverman said historical evidence suggests that a long bond yield in the 793 pct area provides a basis for optimism
the federal reserve is offering to buy all maturities of treasury notes and bonds for its own account for regular delivery a spokeswoman for the new york fed said
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
the average soybean planted acreage quesstimate was 5949 mln ranging from 580 to 630 mln and compared with the 6148 mln planted in 1986 with substantial grain stocks less interest was expressed among analysts in the usda stocks report also scheduled today
qtly div 7 1 2 cts vs 7 1 2 cts prior pay april 30 record april 15
brazils central bank governor francisco gros said after talks with its 14 bank advisory committee here yesterday that it could not make a token interest payment now as sought by banks but would maintain contact with the banks
he added that the pcgg wanted some foreign input but would not allow foreign control of the brewing and food conglomerate the philippines biggest manufacturing concern
this commitment by the markets will enable progress to be made to develop a stronger and more effective exchange to the benefit of all those involved in the industry the chairman of the formation committee pat elmer said
commerce and planning minister mahbubul haq said in a televised speech the government had also decided to allow duty free import of cotton yarn to make the textile industry more competitive and to link bulk tea imports to the export of pakistani products
poehl told an investment symposium in frankfurt last thursday he feared the tax would raise borrowing costs and interest rates stoltenberg quickly issued a statement rebutting poehls criticism saying west germany would remain an attractive place for foreign investors
first central financial corp said it expects earnings to rise significantly in 1987 and said it is actively seeking an acquisition
lawson remarks dash hopes of early uk rate cut
japanese finance minister kiichi miyazawa told a press conference he expects the us trade deficit to eventually start reflecting economic fundamentals which should influence exchange rates
it might also facilitate a further cut in leading rates as the shift out of savings accounts into securities would slow growth of the bundesbanks central bank money stock aggregate
speaking after a meeting at the bank for international settlements bis which reviewed the agreement they also welcomed interest rates cuts in france and todays drop in british rates
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
employers and the port union fnv are to meet again this afternoon to attempt a settlement of the six week old dispute in rotterdams general cargo sector but neither side is optimistic spokesmen for both sides told 
it said the rate would be in line with the 1986 trends but significantly higher than in the first half of this year
payments for the federal railways bond are also likely to burden the market
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
china scrapped vessels of some 11 mln ldt last year while south korea demolished ships of 910000 ldt he said
harcourt brace needs a back list of that nature and is willing to pay up for it obolensky said
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 company further said that the second quarter will be transitional period and that earnings growth will resume in the second half of 1987
progressive savings has assets of about 500 mln dlrs and operates ten offices in los angeles and orange counties
the cbt originally had approved a yen bond futures contract in december 1986 but the sec rule precluded the application
integrated resources inc ire offering of 150 mln dlrs of senior notes with 50 mln dlrs due april 15 1990 50 mln dlrs due april 15 1992 and 50 mln dlrs due april 15 1995 all through drexel burnham lambert inc
it said each right entitles the holder to buy one tenth of a share of preferred stock of st
the january fall came after a strong 64 pct rise from novembers rate of 1774 mln units and brought completions to 67 pct above the january 1986 level of 1765 mln units
indonesia limits oil price impact finance minister
rjr nabisco rjr has offsetting gains charges
shr 70 cts vs 67 cts net 6416000 vs 6057000 note net includes pretax securities sales gains of 5900000 dlrs vs 5900000 dlrs
megaphone international inc infl 4th qtr loss
a spokesman for jardine matheson holdings ltd jardhk said he could neither confirm nor deny a newspaper report which said jardine was thinking of moving its listed property subsidiary hongkong land ltd to bermuda
he told the banks to stop complaining that there is no leeway in current procedures and to come up with ideas
west germanys thesing issues 10 mln sfr bond
the government has said the land reform plan aims to distribute 97 mln hectares of land to poor peasants
but protests had also come from other exporters to the ec such as senegal malaysia indonesia brazil argentina iceland and norway they added
licences for 100000 tonnes of the barley were awarded to french trade houses they added
the brandon sun has daily circulation of 19100
he did not elaborate on the nature of the action nor when it was taken but said that it was in the spirit of the agreement reached by six industrial nations in paris recently
the us government did not seek permission for the journey claiming the area was an international water way
asa said its load factor however was down to 388 pct from 427 pct a year ago
group members are cni partners an investment partnership mason best co a texas investment partnership and houston imperial corp a real estate development firm
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
dole said that the united states has made the decision to trade with moscow and that its important to offer competitive prices
it said all the shares were bought between dec
tofutti brands inc said it is changing its fiscal year to a calendar year from a year ending july 31 and it expects to be profitable on higher sales in 1987
but most experts agree that a major overhaul of price differentials is unlikely so as to avoid giving the market signals of a dent in opecs new unity
houston industries inc hii increases div
the outlook for bonds also is less favorable later in the year since both inflation and interest rates may be edging up
how new regulations will affect foreign banks here was uncertain
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
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
in march industrial production rose by 28 pct from february
moodys cited deterioration in capital structure and debt protection measurements due to aggressive balance sheet management
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
us economic data due out next week is unlikely to hold any surprises that will shake us interest rate futures out of their relatively narrow trading range of the last 3 1 2 months financial analysts said
the senate and house budget committees are known to be considering curbs on pik and roll transactions among other savings alternatives
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
qtly div common 2 1 2 cts vs 2 1 2 cts prior qtly div special common one ct vs one ct pay may eight record april three
saudi arabia buys rbd palm olein
wheat and rapeseed crops in east china suffered considerable damage because of frost during a spell of unusually cold weather in late march the china daily said
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
rigid accounting rules have prevented us banks from seriously considering adding interest to the principal of a loan because they would have to declare the loan non performing
distant contracts are already at a sharp discount to cash because traders anticipated high farrowing intentions she noted
the company said the airport is expected to be the largest construction project in the country for the rest of the century
swedish tyres process equipment and components firm trelleborg ab said it was taking a larger stake in mining and metals concern boliden ab bldsst than it had originally intended
its fundamentally in their best interest
g 7 members britain canada france italy japan the us and west germany said in a statement they consider their currencies are now within ranges broadly consistent with economic fundamentals
business computer solutions inc said it expects to report a profit for the fourth quarter ended february 28 its first quarterly profit ever of about 175000 dlrs on revenues of about 750000 dlrs
net natural gas output averaged 976 mln cubic feet per day in 1986 down 10 pct from 1985s 1084 mln the company said
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
its fiscal year ends september 30
south korea has agreed to pay japanese trading houses just over 400 dlrs c and f per tonne up from an average of 350 dlrs in the first quarter and throughout 1986 they said
the costs of meeting the potential liability for insurance losses to facilitate the sale of the companys insurance unit and of revaluing other discontinued business segments have substantially exceeded original indications moodys said in a release
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
kelsey hayes canada ltd year net
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
in addition homestake has two lines of credit totaling 150 mln dlrs which have not been drawn on today and could be used to finance an acquisition he said
but the japanese remain doubtful about the short or even medium term prospects of totally transforming their economic habits
of the three mark eurobonds launched on tuesday alone bonds for den danske bank and iceland were trading outside fees on friday although prices had recovered from initial lows
farmers who had expected a near record wheat crop now say this year will see one of the largest losses in decades
the bank of japan intervened in tokyo to buy dollars just after the market opened dealers said
usda asks tight insect rules for grain shipments
twa vice president general counsel mark buckstein said the company had made appropriate filings with the dot and was in compliance with the law
the international primary market makers association a trade organisation said its board last week adopted new rules recommending lead managers of eurodollar bond issues make a market in that security for 12 months
bids totalled 19758 billion yen
gaf closed at 49 5 8 off 3 4
european community ec industry ministers agreed on a plan for voluntary steel plant closures drawn up by industry lobby group eurofer and calculated to lead to the loss of about 22000 jobs
ames department stores inc said duane wolter has been named executive vice president and chiedf financial officer succeeding as chief financial officer ralph m
diamond shamrock offshore partners dsp payout
american software inc said its board declared a three for two stock split on class a and class b common shares payable march 31 record march 16
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
embargoed for release at 1130 gmt thurs march 19 uk feb adjusted unemployment fell 44100 total 307 mln or 111 pct official
after restructuring under the holding company format the companys present truck and engine subsidiary will be known as navistar international transportation corp
iranian premier reiterates warning of retaliation
trump and interstate in talks for alexanders
lvi group lvi to make acquisition
sna said suralcos alumina exports dropped to 23869 tonnes in february from 92852 tonnes in january
pakistan reportedly bought white sugar at tender
to buy i p sharp of canada
one is finding borrowers
the figure for women was 256500 at end march against 256100 a month earlier and 259400 at end march 1986
westamerica bancorporation wsam 1st qtr net
that field is a segment of the market known as system utilities or software packages that boost the productivity of a companys data processing facilities by increasing the speed power and efficiency of large mainframe computers
uk data depress rate cut outlook analysts
shr 40 cts vs 33 cts net 326 mln vs 267 mln revs 4065 mln vs 3701 mln nine months shr 144 dlrs vs 120 dls net 1178 mln vs 975 mln revs 12 billion vs 11 billion
irving trust co said it is raising its prime rate to 7 3 4 pct from 7 1 2 effective immediately
markets were quick to react to the statement chopping about one us cent and over one pfennig off the pound to match the levels mentioned by lawson
petro canada inc has 26 pct trillium exploration corp has 20 pct and nova scotia resources ventures ltd has 15 pct
australia exported 159000 tonnes of sugar to the soviet union in 1986
there were wire problems at two large banks on tuesday and wednesday so i am not too bothered about the borrowings said scott winningham of js winningham and co
the 1987 budget allowed for 30 billion francs in revenue from privatisation to be split between repaying national debt and providing state enterprises with fresh capital
the columbia gas systems inc said it will redeem 47 mln dlrs principal amount of its 9 1 8 pct debentures series due may 1 1996 and five mln dlrs principal amount of its 10 1 4 pct debentures series due may 1 1999
a barclays national bank executive who asked not to be identified said the rise of the independents appears to be indicative of a potential shift of power in the national party and has created a favourable sentiment overseas one dealer said growing business and investor interest from west germany and switzerland were behind the financial rands rise
underwriters said floaters denominated in a foreign currency are a new wrinkle on wall street
they are two excellent partners who have stated time and time again their support of us sprint he said adding that he was amazed at industry talk that the two companies might be arguing
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
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
lynch said it will pursue further acquisitions of media and entertainment entities with emphasis on broadcasting and cable television operations
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
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
of this total 78 mln dlrs is due on exchange of contracts on april 30 and 69 mln on july 7 subject to any regulatory approvals being obtained bond said in a statement
how quickly they can move the sugar is one factor determining import levels he said
lebanese central bank vice governor meguerditch bouldikian called for the establishment of an arab fund to assist the lebanese pound which has lost more than 80 pct of its value against the dollar since january 1986
ongpin told the meeting he had kept his promise to gain terms better than those granted last year to mexico which won a 20 year repayment at 13 16 points over libor
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
morgan stanley said each share of preferred may be converted at any time into 06944 share of the companys common stock
it faced international pressure to reduce its trade surplus but west germans were worried about the effect of the marks strength on the countrys exporters
oats acreage of 195 mln is unchanged on last year and barley area of 59 mln is also similar to last year
the bank said in a consultative document published in february that possibly two or three experimental auctions might each raise between one to 1 1 2 billion stg
the federal home loan bank board said thrift institutions insured by the federal savings and loan insurance corp reduced their liabilities at a 41 pct annual rate during january
the tariff cut is very helpful for american suppliers who want to boost their exports to taiwan steve chen country director of the american soybean association told
us bank discount borrowings average 228 mln dlrs a day in march 18 week fed says
but he also said that this structure may not be the right option for all borrowers
dealers said that because the borrower comes to market fairly infrequently the last time was about nine months ago the spread appears wide
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 central bank on tuesday raised overnight rates by a quarter of a percentage point to 14 pct on demand for 746 billion pesetas
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
sterling bancorp year net
i find domes statement very bothersome
some 350000 dlrs is payable immediately 12 mln dlrs payable on completion with the balance due by june 30 1987
during 1986 the 17 1 2 pct debentures and 9 7 8 dlrs preferred stock were redeemed or converted resulting in 6028755 common shares outstanding at december 31 1986 as compared to 2408766 common shares outstanding at december 31 1985
the officer said repairing damage will probably call for special measures this spring in fields with damaged plants and where stands are thin
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
ranger rgo completes us property sale
oper shr five cts vs 36 cts oper net 508000 vs 3450000 revs 2967 mln vs 2980 mln note former name marshall drummond mccall inc
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
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
in the year ended november 30 pat earned 5400000 dlrs pretax on sales of 830 mln dlrs
shell canada shc to sell tankers to socanav
the application to the cftc could be made as soon as early next week but the secs rule change must first be formalized by its publication in the federal register an cbt spokesman said
it said legg mason wood walker and jc bradford would co manage the deal
he said the government was also expecting at least three pct growth in gdp this year after several years of negative rates
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
sumita says major nations will continue to cooperate to stabilize currencies
yeutter says us japan trade difficulties remain
asked how he would respond to the idea if it were brought up at any group of five meeting in washington later this week the paper quoted him as saying i will back it up but sumita said the market still has confidence in the dollar and one must be careful in associating the current dollar decline with anything like a free fall the paper said
the previous agreement had proposed a three month period
the sources said the lower maize crop would be offset by a 25 pct increase in cotton production to 315000 tonnes from 248000 tonnes last year and by a rise of 20 pct in soybean deliveries to 100000 tonnes from 84000 tonnes in 1986
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
analysts said the moves could encourage washington to cancel the tariffs ahead of next months meeting between prime minister yasuhiro nakasone and president reagan
pakistan is reported to have bought 100000 tonnes of white sugar at its weekend tender from a north korean operator traders said
kurzweil music systems inc said it has taken steps this year to reduce costs including a 10 to 15 pct reduction in its work force
asked whether a dollar yen rate of 148 or 149 reflected economic fundamentals he said current rates almost reflect fundamentals
caisse de depot et placement du quebec the government agency which manages the provinces pension funds said its investment portfolio earned a net profit of almost three billion canadian dlrs in 1986 an increase of 300 mln dlrs over 1985
houston oil trust said that independent petroleum engineers completed an annual study that estimates the trusts future net revenues from total proved reserves at 88 mln dlrs and its discounted present value of the reserves at 64 mln dlrs
the associations added that they would remain independent but wholly owned units of the holding company
in the fixed rate sector trading was dull with the market still attempting to digest a heavy volume of new issues from earlier this week although primary market activity slowed somewhat today trading and syndicate sources reported
the loan to be lead managed by the bank of china is expected to mature in eight to nine years but terms have not been finalized
ny dealers believe fed intervened to buy dlrs
bond activity in west german bond trading and syndication departments is also expected to be quieter than normal owing to the carnival holiday
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
but democratic critics said the bill did not ask the administration to address tough policy questions in the report
shattner believes the company will post better results this year due to several factors
emery said purolator would operate as a wholly owned unit of the company after the merger
latest qtr includes a tax credit of 909000 dlrs or 46 cents a share
both tenders are open from june 24
pay talks aimed at ending a week old national seamens strike collapsed today and the strike will continue a union official said
barringer resources inc barr year end dec 31
most economists are predicting over the weekend system repurchases
fidelity federal savings and loan ffedo 3rd
colombia is one of the countries that will benefit most from this situation he said
a total 59000 tonnes of current series white sugar received export rebates of a maximum 45678 european currency units ecus per 100 kilos at todays european community ec tender the uk intervention board said
kiena gold mines ltd said it planned a two for one common stock split pending shareholder approval on april 7
japanese securities houses also may allow foreign brokers to underwrite more 10 year bonds from april
the bond is available in denominations of 1000 and 5000 dlrs and will be listed in luxembourg
the company said it produced 23961 trucks in the us during the month compared to 134 in the same month last year when most of chryslers truck operations were temporarily closed down for model changovers
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
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
production in 1986 is estimated by the embassy at 35000 tonnes as against 38000 tonnes in 1987
citing the share buybacks from norfolk southern he said one of santa fes options if threatened could be to buy the henley stake
egypt japan and iraq were the major wheat buyers for delivery in the current year while sales to china decreased by 30000 tonnes for the current season but increased by 90000 tonnes for the 1987 88 season which begins june 1
franklin pennsylvania us sets initial payout
the properties were acquired from north american oil and gas corp and texas petroleum corp in canada the company said
citicorp filed an 8 k form with the securities and exchange commission indicating a material change in its financial situation
sichuan is one of six provinces threatened by drought
stoltenberg said that everything had been carefully considered
the dispute goes to the commission on monday they said
the federal labour office said the number of workers on short time rose by 80629 to 462802 and the number of vacancies increased by 15263 to 180047
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 bankers said nmic itself has recently filed with the securities and exchange commission sec for placing the company under receivership and the suspension of its debt payments in order to protect it from threats of foreclosure
overseas production will account for 35 pct of its total production in 1990 from the present 20 pct
altogether it looks good for labours election prospects he said
he said the company intends to reinvest its earnings in its businesses and not in its dividends
fees comprise 7 8 pct selling concession with 1 2 pct for management and underwriting combined
he told reporters the term sheet detailing the changes in the rescheduling has already been endorsed by the 13 member debt steering committee and is now being sent to the countrys 460 creditor banks for their approval
two brazilian shipping firms settle with strikers
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
shr profit three cts vs loss 18 cts net profit 124000 vs loss 370000 rev 113 mln vs 117 mln avg shares 3673000 vs 2368000
opening a debate on free trade in the house of commons mulroney said an accord would create thousands of jobs in canada and bring greater economic prosperity to both countries
the report said the firmness in oil prices was likely to continue in the short term
democracy in latin america must not be endangered because of misery or new injustices he said
dieter noted however that pipes and related products accounted for less than 30 pct of mannesmanns turnover
south korea corn imports may increase usda
livestock feed needs have probably increased because of the fall and winter analysts said
the bank said in a statement that public loan transactions accounted for net capital import of 01 billion crowns in may with net registered private capital imports of 91 billion
but he said if circumstances changed i am sure then the opec members will consult with each other and take the necessary measures oil analysts say the opec pact could come under strain when demand for petroleum products generally falls in the northern hemisphere spring and summer
if they go too fast there could be another bust two years down the road businessman raul concepcion whose brother jose is the countrys trade and industry minister said everyone could heave a sigh of relief
but opec appears committed to a short meeting and realises something must be done about the iraq issue the report said
multifoods imc files suit against bregman
the commission is trying to identify ways of saving costs and boosting efficiency of the grain handling system
moran himself withdrew from the takeover effort and last reported his personal stake at 48 pct
we have just avoided a trade conflict with the us and the commission used the tax threat to calm national farm lobbies american soybean association asa president elect wayne bennett said yesterday in the hague that us soybean producers were confident the tax would be rejected
the issues are designed to help curb the growth of m 1b money supply which is expanding as a result of large foreign exchange reserves
gross national product measures the output of a countrys goods and services
the year on year rise in march was 42 pct unchanged on february and compared with 72 pct in march 1986
soybean cake and meal sales of 103700 tonnes were 2 3 4 times the previous weeks marketing year low but six pct less than the four week average
colombia denies selling coffee below market
pig feed was 170800 tonnes versus 171600 and poultry feed 287600 compared with 256600
unilever plc una and nv group reported improvements in margins and underlying sales volume growth of five pct in 1986 after stripping out the effects of falling prices disposals and currency movements unilever plc chairman michael angus said
it said atomika will became a part of its physical electronics division based in eden prairie minn the division is part of its materials surface technology group
ecuador to produce above opec quota minister
hillsdown said capital expenditure rose in 1986 to 60 mln stg from 315 mln and would continue at this high level in 1987
greek un representative mihalis dounas said in a letter to the secretary general that the dispute was of a legal nature and could be settled in the international court in the hague
hughes conserdyne corp a unit of hughes capital corp said it made bear stearns and co inc bsc its exclusive investment banker to develop and market financing for the design and installation of its micro utility systems for municipalities
instead merchant banks advising bidding companies must show restraint and responsibility to avoid the excesses that have marred recent takeovers he told the yorkshire and humberside regional confederation of british industries annual dinner
any further privatisation revenue this year above the 30 billion would be distributed between repayment of national internal debt and public companies in similar proportions they added
chemlawn has b 1 convertible debt
lazo said the stock split would reduce the par value of the companys common stock from 10 to five pesos
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
api says distillate stocks off 44 mln bbls gasoline off 30000 crude up 700000
a year ago it had a loss of 1553592 dlrs or 20 cts a share on revenues of 515225 dlrs
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
next plc nexll five months to end january
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
repayments under the scheme were 85 mln dlrs after 90 mln previously with capital repayments of eight mln after three mln last month
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
as a result of this ruling epac was excluded from a march 12 tender for the import of 80000 tonnes of maize
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
monday after texaco confirmed that the pipeline had been closed west texas intermediate crude in the spot market and on new york mercantile exchanges energy futures complex rose 20 cts a barrel
it said office machinery and data sectors wood and furniture precision mechanics oil and electricity showed improved activity
the central bank had also bought dollars against the yen in morning trade
qtly div 14 cts vs 14 cts prior pay march 13 record march two
prebble said access to new sources of capital would increase its ability to expand and develop
strong growth in domestic demand was a key feature of the economies of southern european countries in 1986 though the growth is seen slowing this year and next the organisation for economic cooperation and development said
free spot market prices rose from around 1450 dlrs a barrel in early december last year to near opecs official levels towards the end of the year after the opec pact
the previous record was set in 1982 when fiji produced 486790 tonnes
us minerals said it has a 50 pct net profit royalty interest in the mine after payback of development costs
the qualification related to certain tax liabilities amounting to 65 mln dlrs associated with a medical division sold by brunswick in 1982 he said
the finance ministry auctioned 280 billion yen of four year government notes the first auction of fiscal 1987 which started on april 1
polly peck international plc said it has agreed to place 10 mln new ordinary shares at 203p each with a group of institutional investors
thailands commerce ministry announced a new tapioca export quota of 737987 tonnes for the european community against 762860 tonnes for the previous allocation
federal securities law requires that all tender offers remain open for at least 20 business days
shr 24 cts vs 15 cts net 24057000 vs 14508000 revs 1561 mln vs 1112 mln nine mths shr 63 cts vs 40 cts net 63183000 vs 36464000 revs 4050 mln vs 2958 mln
the company also said the restaurants are profitable with profit margins increasing over last year
the commission sequestered the stock on suspicion that the real owner of the block was eduardo cojuanco the former chairman of san miguel and the ucpb and a close associate of deposed former president ferdinand marcos
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
the acquisitions bring to its land position a total of 5100 acres of titanium zirconium and rare earth resources the company said
company management is less concerned about the risk to health than about raising plant output and company profits leonard told a hearing of the house agriculture subcommittee on livestock dairy and poultry
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
german exports have in fact been falling in real terms for sometime he said
it then repriced the issue at 97 to yield 1274 pct
amvestors financial corp avfc 4th qtr net
initially the bank forecast a liqudity shortage of some 300 mln stg for the market today
family dollar stores inc fdo 2nd qtr feb 28
convenient food mart inc cfmi 4th qtr net
tranzonic cos tnz sets quarterly
production in 1985 86 is estimated at 2495 mln tonnes vs 2495 mln last month
bird forecast higher economic growth after 1990 and increased imports by less developed countries
but it said there was a continuing improvement in its core businesses
permian said december 1986 future net revenues from proved reserves were 3356 mln dlrs down from 8142 mln dlrs in 1985
the company said the agreement covers both theatrical and video distribution
note totals may not add due to rounding
it claims the hormones ban has no scientific basis and will rob it of 130 mln dlrs worth of exports a year
sri lanka has postponed until november its tender for 75000 tonnes of wheat under the export bonus program originally scheduled for today us exporters said
shell canada schedules annual refinery shutdown
behind the recent dollar fall lies the market perception that major nations were not doing enough to implement their policies under the paris pact he said noting that passage of japans 1987 88 budget has been delayed
he said in a statement welcoming the agreement on buffer stock rules reached last week in london that it resulted in large part from initiatives taken by the ec commission after consumers and producers had reached deadlock in initial negotiations
eastern europe area is forecast at 473 mln ha against 472 mln
the stocks usage ratio for palm oil was 114 weeks last october and is likely to be 87 weeks next october and 77 at the end of next season mielke said
return on common shareholders equity was 186 pct last year up from 15 pct in 1985
announcing the 1986 results wagner said we will endeavour to maintain the higher dividend in 1987 laenderbanks balance sheet total rose five pct to 1977 billion schillings against 81 pct growth in 1985
shr eight cts vs 30 cts net 1100000 vs 3900000 revs 149 mln vs 207 mln
the us agriculture department is currently discussing an amendment to a pl 480 agreement signed with morocco on january 22 but the mix of commodities under the amendment has not been determined a us agriculture department official said
two of the three other major trading banks now have prime rates of 18 pct and one of 1825
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
it is searching for the mechanisms to exercise indirect controls he said
the company said d
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
shr 22 cts vs 22 cts net 915911 vs 970141 revs 80 mln vs 80 mln nine months shr 69 cts vs 56 cts net 30 mln vs 24 mln revs 235 mln vs 221 mln note1987 3rd qtr and nine months include extraordainry gain of 341145 dlrs and 480412 dlrs respectively on sale of land
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
operators have been extremely cautious about testing the dollars trading ranges against the west german mark and japanese yen
the psa handled 529 mln gross registered tonnes of cargo in 1985 according to the latest available statistics from the port authority
hog and cattle slaughter guesstimates
columbus and southern ohio electric co a unit of american electric power co inc is offering 100 mln dlrs of first mortgage bonds due 2017 priced to yield nine pct said lead manager morgan stanley and co inc
norgold will take control of a portfolio of precious metal exploration and pre development interests held by nbh
the red cross says that least 300 people died and at least 4000 are missing due to the earthquake
the land based missiles have increased concern in kuwait and other middle east countries that their oil shipments might be affected
uk money market deficit forecast at 700 mln stg
among the best performers was steel company sidor which earned 1019 billion bolivars the first time since 1978 sidor turned a profit
texas american tae omits preferred payout
the department also announced an extension of the export period from september 30 1987 to december 31 for sales of vegetable protein meals
this move may force interest rates up by creating a revenue vacuum which must be filled by higher government borrowing
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
philip crosby pcro sees lower 4th qtr results
he told the annual news conference that possible credit risks especially those associated with foreign nations had largely been covered
rooter corp said it rescinded a recent agreement calling for united western energy corp to to buy a majority of mr
co lead is pru bache securities
henderson land development co ltd hndhhk 
last week dealers said the federal reserve intervened to stop the dollar rising against the mark which had breached 186 to the dollar
there were only trace amounts of platinum and palladium the company said
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
arizona silver corp said diamond drilling on its burro creek mine property located 65 miles southeast of kingman ariz has begun
copenhagen telephone 600 mln french franc issue
the figures compared with 34 pct contraction and 12 pct growth respectively for the first and second quarters of 1986
income tax provisions 2200000 dlrs vs 3450000 dlrs in quarter and 6200000 dlrs vs 7225000 dlrs in half
dixons also said the previously announced sale of cyclops steel and nonresidential construction businesses to a former alleghany corp y subsidiary is expected to be completed june 30
as one banker put it many banks took the view it was better to get some money back rather than none at all
the total net capital inflow rose to 1374 billion dlrs in 1986 from 768 billion dlr in 1985
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
g 10 finance officials discuss debt currencies
old stone corp said it completed the previously announced acquisition of first federal savings bank of north carolina a shelby nc savings bank for common stock
standard bred pacers stbd yr loss
the increase in non auto sales was broadbased with gains in durable goods as well as non durables noted ward mccarthy of merrill lynch capital markets inc
oxford financial buys clancy systems
kuwait is also looking at flagging out to european registries the officials said
the fact that powers had been exceeded emerged in a routine check at the branch
we will use that advantage responsibly he said
we have seen that the failure of the world trading system has caused great depression and conflict in the past
in my view this will happen more rapidly than many observers now predict the universal strategy of aggressive export led growth is becoming less effective shultz said
the issue will be priced april 7 and subscriptions close april 9
pitney bowes credit corp a unit of pitney bowes inc is raising 100 mln dlrs through an offering of notes due 1992 with a 7 1 4 pct coupon and par pricing said lead manager goldman sachs and co
the uk government hopes for a breakthrough on the deadlock with japan over trade policies during next weeks visit to tokyo by corporate affairs minister michael howard political sources said
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
the 20 year loan supports a project aimed at improving the efficiency of medium scale fertilizer plants through technical renovations and energy conservation the bank 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
dividend pay april 15 record march 31
qintex ltd of brisbane said it has arranged for a leading australian financial institution it did not name to provide princeville development corp with the letter of credit required by the terms of qintexs proposed acquisition of princeville
the date on which the new rules will take effect has not been decided but delegates said they expected them to come into force early next week after which the buffer stock manager can begin buying or selling cocoa
the peruvian government decreed that a wide range of firms would have to earmark between 20 and 30 pct of their 1986 net profits to buy treasury bonds this year
instead it appointed a committee of independent directors to study strategic alternatives for the 170 year old firm
murray ohio manufacturing co said it expects first quarter earnings to be higher than the year ago 4800840 dlrs or 125 dlrs per share due to excellent lawn and garden shipments
under terms of the transaction the present directors of mountain view have resigned and have elected directors of maratech as new directors of mountain view
dealers said that the sharp drop in three month bills resulted in part from recent outright bill purchases for a customer believed to be related to heavy intervention by foreign central banks to support the dollar
the issue will be listed in luxembourg
soviet west german trade is expected to develop favourably due to moscows increasing openness to east west economic relations dresdner bank ags moscow representative michael stein said
the proposed tax also violates the zero duty bindings agreed between the ec and us in 1962 he said
the bank said provisional figures showed net registered private and public capital imports of 103 billion crowns in february
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
net profit rose to 185 billion lire from 448 mln lire in 1985
crude throughput volumes are expected to be unchanged to slightly higher or lower than the week ended march 13 traders said
thus the prediction that these imbalances would be reduced as a result of the major realignment of exchange rates was not borne out last year the report said
the newspaper yesterday quoted highly placed sources as saying the state owned zambia consolidated copper mines zccm was diverting its mineral exports away from south africa but it did not say which alternative routes were being used
glamis gold ltd said it will ask shareholders at an april 1 extraordinary general meeting to approve a one and one half for one common share split
ch beazer holdings plc to offer us shares
turning to 1986 results seipp said by year end there had been a strong growth in business volume
a tender for engineering work on the asia port project will be offered mid year
alcan australia ltd said it increased the list price of 995 pct purity aluminium ingot to 2050 dlrs a tonne from 1950 dlrs effective immediately
the european monetary system is not only a relationship between the guilder and the mark
it added that turkish producers would join in when the two firms meet again in madrid later this month
a major factor affecting inflation is the value of the dollar which should continue to fall and feed inflation says a prominent international banker
saxton industries ltd saxif year net
we are losing our semiconductors which are at the heart of our national security subcommittee chairman james florio a new jersey democrat said
black told shareholders that first quarter operating earnings on continuing operations amounted to 499000 dlrs against a year ago loss of 165000 dlrs
it said transfers of securities in violation of these panamanian regulations are invalid
ziering said he expects the earnings growth to result from positive effect of the weaker dollar on the companys exports sales as well as accelerated market penetration
mcdonalds issues 75 mln canadian dlr eurobond
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
media reports said some banks rated as small among brazils 700 creditors had filed lawsuits against the decision to suspend interest payments
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
british foreign secretary sir geoffrey howe backed the united states attack on an iranian oil platform on monday and said it should not worsen the gulf crisis
brazil debt official offers resignation
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
colombia the only major latin american country not to have rescheduled its external public debt has a total foreign debt of 136 billion dlrs
western agricultural attaches in moscow said they had no evidence to substantiate rumours that last aprils chernobyl nuclear disaster had a worse effect on soviet grain than first reported
weston inc wstna 4th qtr net
athlone industries inc ath sets qtly dividend
alleghanys msl industries inc unit had agreed to buy the steel assets from dixons group for 1116 mln dlrs
breslube is a leading rerefiner of used lubricating oils in north america collecting used oils from auto garages car dealers and other businesses
as debt is repaid pretax interest coverage should rise gradually from the current depressed 14 times level
french industrial production rises in february
he said it was up to countries that declined to cooperate such as britain to come up with their own proposals if they saw fit
lear petroleum partners lp lpp 4th qtr loss
lorimar declined to explain the nature of the conflict or the amount involved
he sold it to ge in 1979
houston oil trust said there will be no royalty funds available for distribution to unit holders in april
multi media sees year end loss
under the offer the company said holders of the preferred would receive one share of a new issue of convertible redeemable preferred stock for each share of their 1985 preferred
the company also said it received food and drug administration approval to market cefadroxil a generic version of an antibiotic with domestic sales exceeding 50 mln dlrs in 1986
day said the sale could enable day to accelerate its earnings for its current fiscal year ending october 31 1987
they can carve out a niche here one said
martin processing said it accepts 20 dlrs share bid from courtaulds plc
the issue which matures april 3 1992 has an indicated coupon of 5 1 2 to six pct and par pricing
cocoa council chairman seeks buffer compromise
ec commission rejects sugar threats sources
dutch chemical group launches dual currency bond
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 assets to be sold under the consent decree consist of bakers domestic oilfield drilling bit business and its domestic submersible electric pump business
kado 42 will be responsible for finance and purchasing
closing of the sale to boliden ab of sweden would be part of the overall restructure of allis chalmers which was announced on march four the company said
us seismic crew count drops 6 pct in february
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
central bank head says philippine growth on target
the national economic development authority neda announced yesterday gross domestic product gdp grew 578 pct and gross national product gnp 553 pct in the first quarter from a year earlier
fannie mae said the swap includes 15 year mortgages for fannie mae stripped mortgage back securities that bear a nine pct coupon
london international group plc lonll said it had agreed to sell its haffenden moulding co ltd unit to melton medes ltd for 21 mln stg
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
in london lloyds insurance said the 162046 ton iranian tanker avaj was hit on saturday when iraq reported an earlier gulf attack
in a summary of its fruit situation report the department said floridas imports of fcoj mostly from brazil have shown sharp gains to date
rain during the week caused some delay in picking
richard gephardt a democratic presidential aspirant from missouri has the support of wright and other key democrats to press for passage of the amendment
love said texas commerce had turned the corner on its energy loan portfolio problems but added that the banks nonperforming real estate loans may increase during 1987
but analysts say markets have signalled the underlying fundamentals imply a lower dollar rather than a stable one
but the employers federation vno noted the dutch economy had become more competitive since 1980 and the fall of the dollar was affecting this gain more than the ems realignment
the dollar has hovered around 153 yen since the six agreed to cooperate to bring about currency stability
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
he would not specify the amount of the write off
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
kaiser steel corp s plant in napa calif has been purchased by oregon steel mills for 16 mln dlrs the privately owned portland company said
del laboratories inc dli 4th qtr net
the company also said it expects capital spending to rise to about 355 mln dlrs in 1987 up from 289 mln dlrs a year ago
government officials said indias total ore exports are likely to rise to between 33 and 34 mln tonnes in 1987 88 against a provisionally estimated 31 mln in 1986 87
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
on march 16 consul offered to exchange each 1000 dlr face value of bonds for 10 shares of preferred stock convertible after dec 1 1987 into a total of 500 shares of common stock
its far more comprehensive and broad than that and the solution of it requires a comprehensive approach baker said in the interview
the officials told reporters baldrige had serious concerns on national security grounds about the sale of schlumberger ltd slb unit fairchild semiconductor inc to fujitsu ltd itsut the officials said the sale could leave the united states overly dependent on a foreign company for equipment used in advanced missiles aircraft electronics and intelligence gathering
bank of spain suspends assistance
the sale is an important part of a restructuring announced in november cpc said
level v wheat barley after 5 14 82 corn sorghum after 7 1 82
lac minerals ltd and cambior inc said they completed a second hole at their jointly owned doyon mine in quebec which showed two significant gold intersections
us officials have said they did not think japan would retaliate because it had too much to lose in any trade war with the united states
south african year on year producer price inflation fell to 149 pct in january against 164 pct in december central statistics office figures show
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
it said the purchase price was 12 mln dlrs in cash and 15 mln dlrs in five year notes plus warrants to buy 70 pct of the stock of maxtec
the bank of england does not favour the introduction of rules to shield companies from hostile takeover attempts its governor robin leigh pemberton said
to avoid another costly inflation and disinflation the somc urged the fed to abandon its inflationary policy and set the growth rate of the monetary base on the path toward sustained lower inflation the fed in february said it would no longer target the narrow m 1 money supply because the link between m 1 and economic growth has been largely severed
but the additional downside may not be all that great from current levels at this price level the market is very vulnerable to bullish developments oneill added
proposed offerings recently filed with the sec
inflation was by 88 pct in indonesia during fiscal 1986 87 to march 31 compared to 566 pct the previous year information minister harmoko said after a cabinet session to discuss the economic situation
rospatch said diagnostics offer of february 27 is a variation of a previous offer in january the nature of which was not disclosed
north american holding corp nahl 3rd qtr net
sizzler restaurants international inc sizz net
i think theres a probability he goes up in price said rose
the two companies said they now plan to complete work by april 23 chrysler and renault said given the complex nature of the deal the need for additional time was to be expected the march letter of intent between the two companies says that chrysler could ask renault to extend the agreement date in the event that prior to april 9 1987 chrysler discovers an unforeseen problem in the course of its due diligence investigation of the company referring to american motors
economists say the systems fortunes now will depend largely on the success of an agreement last month among major industrial nations to stabilise exchange rates
the ccc will offering additional 1986 peanuts for sale at a later date the department said
the imf team also urges belgium to adopt a firm interest rate policy with a particular emphasis on long term rates
emery said it already has a commitment letter from its banks for up to 1299 mln dlrs for the stock purchases
the european investment bank eib said it has lent 200 mln french francs to french railways societe nationale des chemins de fer sncf to extend its high speed train system
for the year ago first quarter wilson reported net income of 28000 dlrs including a 103000 dlrs credit on sales of 158 mln dlrs
it was confident oil prices were likely to remain within a range sufficient to justify the investment
the ministers are in new zealand to review world trade since the uruguay round talks last september
it will also eliminate the 50 ct minimum monthly transaction fee it said
miguel guerrero director of the dominican republics national sugar institute said it would be difficult to boost production even if prices recovered sharply
the shares are being offered pursuant to a shelf registration covering 700000 sahres of serial preferred stock which the company filed on february 19 1987
this was gradually cut to 285 pct because of intense demand saving the issuer money in financing costs
sterling will be held down by interest rate cuts in future rather than this active intervention he predicted
british sugar plc the monopoly beet processor has signed up uk farmers to grow 81 mln tonnes of beet
a repetition of what happened last year when opec boosted output and sent oil prices tumbling down below 10 dlrs is always there as a possibility he said
speculation has been rife that the dutch central bank encouraged by a strong guilder mark relationship and wide premiums for dutch money and capital market rates over german might lower rates without the bundesbank moving first
delegates said figures now being floated range between 65 and 80 pct
roses stores inc rsto 4th qtr jan 28
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
west german officials said aid last year included 35 mln marks in financial cooperation
it said it now controlled 98 pct of hillards shares comprising acceptances of the offer for 15 mln or 31 pct and 32 mln or 67 pct owned by itself its pension fund or its associates
public service co of new hampshire said its board voted to omit the quarterly dividend which would have been paid on may 15
cost estimated for the facilites that the austin kawasaki team will propose to design and implement have ranged between 200 mln dlrs and 250 mln dlrs
blumenstein was named an assistant group executive of the information systems group and he will report to lucente ibm said
bevis bevi receives takeover inquiries
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
mcintyre also said it provided a three mln dlr last recourse letter of credit to the alberta government for smoky river coals reclamation obligations
the company said the agreement provides an additional 100 mln dlrs of credit that may be borrowed by the company or used to cover the issuance of new letters of credit
mitsui through its subsidiaries mitsui and co usa inc and mitsui steel development co inc and steel technologies each will own 50 pct of the new company the company 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
hard red winter wheat should comprise the bulk of the stocks followed by spring wheat he said
the united states nato and the united nations all called on greece and turkey to exercise restraint
sapporo breweries plans 100 mln swiss franc notes
greater financial sophistication is needed coupled with more diversified capital market instruments and a change in the disclosure requirements on company accounts he said
the house banking committee voted 45 5 in favor of a bill to raise five billion dlrs over two years to assist the federal savings and loan insurance corp
glynwed sees further progress in 1987
pakistan bids for import of 100000 tonnes sugar
major us pipeline may be closed several days
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
the grain and oilseed importers association acico opened legal proceedings to stop epac participating in the public tenders
earlier this month lawyers for ward told a jersey court that ward saw the payment as his reward for services in last years takeover battle for distillers co plc guinness has said that both men breached their fiduciary duty in authorising the payment
other reasons are low domestic inflation a bottoming out of the fall in imports in recent years and signs government spending on productive sectors will remain steady
emery air freight corp said it has entered into an agreement with ef hutton group inc efh under which hutton will terminate its merger agreement with purolator courier corp and its pending 35 dlr per share tender offer effective april 13
cons banking gp net profit 4967 mln schillings vs 3545 mln cons banking gp balance sheet total at year end 4534 billion schillings vs 4254 billion parent bank net profit 3706 mln vs 2530 mln parent bank balance sheet total 3725 billion vs 3482 billion parent bank dividend 12 pct vs 10 pct parent bank div payout 3630 mln schillings vs 2475 mln
she told parliament that the bid by the uk s cable and wireless plc cawll to enter the japanese telecommunications market was being regarded by her government as a test case
hawkeye hwkb issues preference stock
iranian oil minister gholamreza aqazadeh is in the united arab emirates uae to discuss oil prices and the general market situation iranian officials accompanying him said
this bond will pay a first coupon of 21250 francs on october 27 next year and the payment date will be october 27 this year
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
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
fundamental adjustments will be needed as long as japan hopes to benefit from a better international allocation of resources and maintain the free trade system it added
boston five cents savings bank said it and neworld bank for savings have agreed to merge forming a new holding company boston five bancorp
coastal has used transamericas bankruptcy proceedings to engineer a hostile takeover attempt the company charged
japan consumer prices unchanged in february
dealers said federal funds were trading at six pct when the fed began its temporary and indirect supply of reserves to the banking system
union texas said it planned to spend about 42 mln dlrs over the next two years to develop its eugene island block 371 in the gulf of mexico
others said they could include those issued earlier this year and applications not yet granted
morgan guaranty ltd will co lead manage the issue which will be sole in denominations of 10000 francs and be listed in luxembourg
prices have already begun to fall with the introduction of the new system
warburg pincus capital corp said it has started a tender offer for up to 2500000 common shares of symbion inc at 350 dlrs each
the maximum size of the buffer stock in the new pact is the same as under the present one 400000 tonnes with provision for an additional contingency buffer stock of 150000 tonnes
but there are potentials for all types of people to use it
it said initial estimates indicate that company stocks fell by 12 mln bpd in oecd countries in the first quarter of the year
spot next rose to as high as 6 1 4 six pct from 5 1 4 five pct yesterday and the borrowing interest spilled over into the periods with one month rising to around 6 3 16 5 15 16 pct from 5 15 16 7 8 pct yesterday
uk money market shortage forecast revised down
paul e
during the 11 mths of operation the partnership wrote down the carrying value of its oil and gas properties by 1248 mln dlrs
hertz said offering proceeds would be used for general corporate purposes and to reduce short term borrowings
eurobonds for texaco inc subsidiaries were unquoted this morning as traders assessed the implications of the companys shock weekend decision to file for bankruptcy under chapter 11 of us bankruptcy laws eurobond dealers said
hong kong firm ups calmat czm stake to 98 pct
usair u seeks two billion loan for takeovers
the bills will be issued march 26
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
another frustration has been britains failure to lend the ems political support by keeping the pound still a major world currency outside the system
asked about the current state of plans to abolish the fecs tian said we have decided to postpone the question
the american stock exchange said it today opened put and call options trading in the common stock of harcourt brace jovanovice inc
shr 69 cts vs 39 cts net 1767000 vs 1007000 sales 323 mln vs 292 mln six mths shr 53 cts vs 12 cts net 1348000 vs 319000 sales 622 mln vs 552 mln note full name is diamond crystal salt co
americus trust for american telephone and telegraph shares series two said it will distribute an initial dividend of 2875 cts on may 12 to shareholders of record march 31
by deterring industry use of the exchange for hedging and physical needs it would remove many of the unique advantages currently offered by the lme and make it indistinguishable from non trade orientated markets such as comex
this kind of paper can be hard to sell and it is gratifying to see such a high level of interest both european and domestic canadian demand commented one trader at a canadian house
fed buys one billion dlrs of bills for customer
terms of the acquisition of 10 pct of norddeutsche affinerie from degussa ag dgsgf are currently being resolved mim said in a statement
burmese paddy production lower in 1986 87
towle also said that as a result of its restructuring its sales for 1987 will not exceed 100 mln dlrs
blocker energy corp blk offering of 12 mln shares of common stock through drexel burnham lambert inc and alex
purchases of durable goods were up 248 billion dlrs last month after decreasing by 697 billion dlrs in january with sales of motor vehicles accounting for most of the february increase and the january decline the department said
the offering is the second this year under an 800 mln dlr shelf registration
it questioned the long term srategic value as well as a high price of about two billion dlrs
for the fourth quarter ended march 30 1986 the company reported net income of 631720 dlrs on sales of 52 mln dlrs
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
shr 23 cts vs 18 cts net 509144 vs 277834 revs 2258341 vs 1328634 avg shrs 2177553 vs 1564605 nine mths shr 55 cts vs 42 cts net 1150633 vs 649914 revs 6169168 vs 3178115
but he denied there was pressure from the government for the spin off
the broker who requested anonymity said virtually all his venezuelan customers had stopped doing business with him since the central bank issued the telex and followed it up with telephone calls
the issues included are 297 mln dlrs of 9 1 2 pct series due 2000 at the regular redemption price of 1044 pct 5174 mln dlrs of the 9 7 8 pct series due 2008 at the redemption price of 100 pct and 1326 mln dlrs of the 9 7 8 pct series due 2008 at 10663 pct
toshiba corp tsbat the japanese electronics group which plans to enter britains liberalised telecommunications equipment market risks becoming the first casualty in the current war of words over trade between japan and the uk government and industry sources said
phelps dodge corp chairman g
the supermarket chain earned 411 dlrs per share on sales of 1389 billion dlrs last year
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
culp inc culp sets quarterly
southmark sm to purchase national self 
gmac australia finance ltd is issuing a 50 mln australian dlr eurobond due may 6 1991 paying 14 1 4 pct and priced at 101 pct sole lead manager hambros bank ltd said
taiwans trade surplus reached a record 156 billion dlrs last year up from 1062 billion in 1985
buckstein said the dot ruled the application which was filed wednesday was incomplete
in a bid to integrate the bank into the us debt strategy washington has suggested it would be ready to subscribe nine billion dlrs to a new four year capital replenishment of the bank
metropolitan owns 21 pct of metex common stock the company said
it is believed to be the largest ever issue denominated in australian dlrs
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
b shipping sources said on tuesday night at least six sea captains had voiced fears that iran would avenge mondays us raids by unleashing more silkworm missiles at ships plying the gulf
sudans finance minister said last month the countrys imf representative had told him the funds executive board was very pleased with the 185 mln dlrs arrears we have paid in the past couple of months the representative omer said said imf managing director michel camdessus said he would ask saudi arabia to which sudan owes about 14 billion dlrs to help khartoum to pay more
but other dealers said they doubted the efficacy of central bank intervention saying it may stimulate the dollars decline because many dealers are likely to await such dollar buying intervention as a chance to sell dollars
escom said it plans to meet the bulk of its funding requirements this year by raising 22 billion rand in the south african financial markets against a total of 175 billion rand raised last year
but it will continue to purchase quantities of us and foreign crude oil for use in its refinery system he added
iif executive sees interest rates declining
an official at minero peru comercial minpeco perus state minerals marketing firm confirmed there had been no declaration of force majeure on the shipments from cobriza
the banking sources said the committee has been prepared to lower amortizations to around 400 mln dlrs this year but that no direct commitment was likely on new loans
cri insured mortgage investments lp crm payout
farmers receive the initial payment when the grain is delivered to the elevators used by the wheat board
its caused a lot of ill will with the banking community one banker said
att t sets payout for regular dividend
viacom via sets record date for merger vote
chuck fields of the american farm bureau federation said livestock producers were desperate because they fear they will be unable to retain the many illegal aliens who have joined that industry
citing statistics indicating that by the year 2000 asia will contain two thirds of the worlds population and 50 pct of global productive capacity cornelissen said we knew we had to be there royal trusts 14 international locations include offices in tokyo hong kong and singapore
although very low oil prices such as those seen around the beginning of the year may appear beneficial for the industrial countries that depend on imported energy they would only lead to wastage and overdependence on the fuel in the long term he said
younger said london had given us companies contracts under conditions of fair and open competition
he said the kremlin planned to produce 235 mln tonnes of grain in 1988 versus a planned 232 mln this year
treasury balances at the federal reserve fell on april 10 to 3373 billion dlrs from 3523 billion dlrs on the previous business day the treasury said in its latest budget statement
the house foreign affairs subcommittee on international economic policy voted to direct the administration to cut the list of controlled exports by 40 per cent by removing items no longer considered important to us military security
diamond shamrock raised crude by 50 cts bbl today
industry sources told that nigerias output was less than 1000 tonnes last year
the ministry has also rejected foreign management
redlake corp 2nd qtr sept 30 net
the department had earlier reported that real earnings fell 03 pct in january but revised the figure to show earnings unchanged
soviets rumored to have bought more us corn
the figure for the unprofitable firms was up from 21 billion dlrs in the third quarter of 1986 it said
they could continue to support prices in the hope that when the world economy improves demand for wheat will rise and surpluses wil be reduced or eliminated
in addition to the cash payment grace received warrants to buy up to 475 pct of the new company and has reinvested about 19 pct of the proceeds in debt of the new firm
last time the banks sent their responses on the proposal to leutwiler who in turn notified the south africans
ronson corp ronc 4th qtr dec 31
nui corp said it is studying the feasibility of spinning off nonutility subsidiaries to shareholders
under french privatisation law foreign companies are restricted to a 20 pct stake in privatised companies
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
peter miller apparel group inc said it signed a letter of intent to issue 216 mln dlrs of convertible debentures subject to regulatory and board approvals
morgan stanley jersey ltd is issuing 45000 covered equity warrants exercisable into shares of japan synthetic rubber co ltd at an issue price of 212 swiss francs per warrant lead manager morgan stanley sa said
mexico denies british banks balking at debt deal
sec says campeau unit violated disclosure rules
he was speaking after three weeks discussions with the imf centred on the revision of the exchange system
eleven contracts were terminated after no oil was discovered
the rights become exercisable if any person or group acquires 15 pct or more of the companys common stock other than through an all cash tender offer for all outstanding shares at 65 dlrs per share
in 1985 it was 52 pct
kapok corp kpk year sept 30 loss
pre paid legal services inc chairman harland stonecipher said the companys sales growth rate for each of the next five years would substantially exceed the average 100 pct recorded over each of the last few years
weve captured the fiber high ground shown the importance of it he said
douglas said this years government bond tender program would be adjusted in the light of the surplus providing for the repayment of up to 600 mln dlrs of new zealands 2174 billion dlrs of overseas debt
the panel this week winnowed through the list of the some 20 products and sent their recommendations yesterday to santa barbara where reagan is vacationing
over the past year taiwanese businessmen have delayed imports of machinery and production equipment because of exchange rate uncertainty he said
a further half point cut widely expected in the next week or so has already been largely discounted
about 80 pct of the surplus will come from the islands trade with the united states
the diplomats said it was unlikely that the issue would be discussed in detail at the next meeting of ec foreign ministers on april 27 and 28 in luxembourg as time was needed to prepare proposals for possible retaliatory action
us senate hits ec oils tax vows retaliation
the bonuses were made to gress foods inc 5000 tonnes and serva international ltd 5000 tonnes the subsidies will be paid to the exporters in the form of commodities from ccc stocks
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
johnson said the fed supports this pattern of exchange rates and well see if it leads to a convergence in trade
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
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
the company raised its dividend to 435 cts a presplit share up from the previous 37 cts a share
termination of usdas transportation assistance program for wheat barley and sorghum would be proposed this week
second the usda announcement said 60 mln dlrs of a previously announced 60 mln dlr line for tallow under gsm 102 was available for both public and private sector importers
clabir clg unit agres to buy popsicle canada
where the crop is really made or broken is still ahead of us an agriculture department authority on the ussr said
the discovery is on the mccoy property one mile northeast of the mccoy open pit heap leach gold mine which is expected to produce about 85000 ounces of gold this year echo bay said
allegheny and western energy corp said it was forming a subsidiary to market gas to smaller users in west virginia
elsinore said it has guaranteed the payment of the bonds
usda estimated soviet 1986 87 coarse grain imports at 1200 mln tonnes vs 1000 mln tonnes last month and 1985 86 imports at 1370 mln tonnes vs 1370 mln tonnes last month
the company said it has an option to acquire growers cold storage facility and related assets in tulare county calif
in a question and answer session with the public affairs group clark said that the two countries must find better mechanisms for resolving their trade disputes
the recent price strength gains of about 52 dlrs the last two days has been due in large part to sterlings rally against the dollar and in the process has attracted a measure of origin selling traders said
creditanstalt bankverein cabvv year 1986
treasury secretary james baker said he expected the us trade deficit to fall by 15 billion to 20 billion dlrs in 1987
it said its most recent purchases included 191400 shares bought march 18 april 6
union carbide files to offer 500 mln dlrs of debt
major differences resolved at rubber pact talks
carolin also said it expects to receive results of further tests and assays of the tailings within two to three weeks
banco di roma unit arranges euro paper program
in the year to march 21 it reported a rise in pretax profit to 2469 mln stg from 1927 mln on sales that increased to 404 billion from 358 billion
australias m 3 money supply rise 15 pct in march
in addition john lennon current chairman and chief executive officer will remain as chairman he company said
at the saatchi and saatchi annual meeting today the company reported a particularly strong start to the current year with profits sharply higher than the same period last year
it said the provision will increase loan losses to about 328 mln dlrs or 22 pct of loans
by changing the definition of subsidy under us countervailing duty law house of representatives bill 3 removes protection for companies that take advantage of widely used government programs zimmerman told a media briefing
rjr nabisco first quarter net to include 208 mln dlr gain 209 mln dlr charge
the company said the preferred purchase will be financed by an investment group led by autospa
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
mellon said it will make a provision for loan losses in the first quarter of 175 mln dlrs reflecting about 95 mln dlrs in charge offs and 80 mln dlrs in additions to the loan loss reserve
hudson bay mining cuts us canada zinc prices
everybody loves an under 10 pct mortgage she said noting that within five days the bank loaned the equivalent of 25 pct of its 1986 volume
i would guarantee you that this company is not in trouble
it is a pity we need such a wide interest rate difference between west germany to maintain the exchange rate he added
officials said that wording represented a compromise
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
in announcing a four month wage and price freeze argentine officials said the country needed a more serene climate to carry out structural changes in the economy
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
it said in a statement the increase was exclusively due to sharply higher use of rape products which went up by 89 pct to 108 mln tonnes
marion laboratories incs stock rose sharply today after the company presented a bullish earnings scenario at a meeting for pharmaceutical analysts monday traders and analysts said
oper shr profit 180 dlrs vs loss 228 dlrs oper net profit 20480000 vs loss 1318000 revs 254 mln vs 123 mln avg shrs 1135000 vs 576000 note net excludes realized investment gains of 40000 dlrs vs 13000 dlrs
the february fomc kept the four to eight pct federal funds rate reference range for policy as in other recent meetings
tcf banking and savings fa said it filed with the federal savings and loan association to issue up to 100 mln dlrs of subordinated capital notes
lone star industries inc said it signed an agreement to buy or lease five import cement terminals from hanson industries han kaiser cement corp
oper shr 74 cts vs 30 cts oper net 3034000 vs 1225000 note 1987 operating net excludes credits of 1043000 dlrs or 25 cts a share
georgia gulf corp gglf offering of four mln shares of common stock through goldman sachs and co
the regions principal debtors are brazil and mexico each owing about 100 billion dlrs at the end of last year followed by argentina with around 49 billion dlrs venezuela with 33 billion and chile with 20 billion dlrs debt
wheat by class breakdown
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
last year new process paid an annual dividend of 118 dlrs by paying 12 1 2 cts a share in each of the first three quarters and a fourth quarter dividend of 80 1 2 cts
dome earlier said it was not considering selling encor energy but reaffirmed the companys 233 pct interest in canadian gold producer dome mines ltd dm is up for sale at the right price dome now negotiating a plan to restructure more than 610 billion dlrs in debt sees encor as a strategic investment that it does not intend to sell spokesman david annesley said
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
vws former foreign currency chief burkhard junger was arrested on monday on suspicion of embezzlement and of having evaded justice
it said it has asked the american stock exchange to suspend trading in its common stock at the close on april 6 to ensure settlement of all traded by april 14
the peoria and la grange locks on the illinois river are still scheduled to close july 13 for two months of repairs
argentine president raul alfonsin met for more than an hour with international monetary fund managing director michel camdessus and argentine economy minister juan sourrouille said the two men discussed argentinas economy and its commercial bank financing package
a group led by first boston corp will underwrite the offering the company said
but the firm is well positioned in its business segments
general mills inc gis 3rd qtr feb 22 net
its domestic borrowings however rose to 1052 billion taiwan dlrs from 806 billion in the same period he added
with the conclusion of the sale american international has entirely divested itself of its holdings in south africa
the bundesbank is unlikely to change its credit policies at its central bank council meeting on thursday as exchange rates and short term interest rates have stabilized over the past few weeks money market dealers said
a snowstorm caused some cattle deaths in the panhandle and cold wet weather covered many areas
local m2 rose 47 pct to 24903 billion dlrs in january from december when it climbed 42 pct
although the increased cost was to be funded by dot sims said that department to date has contributed no money
officials in east china have repeatedly said stable grain production is a key state policy and outlined the measures being taken in their areas to encourage output
record male unemployement of 31 pct was set in july 1986
however he pointed out that mainly sovereign paper was in demand with us bank sector paper largely ignored
start up is targeted for third quarter 1987
northwest natural gas co nwngo 1st qtr net
michigans principal business lumber and housebuilding products sales operates in a cyclical and highly competitve environment so that even debt restructuring would probably not improve earnings moodys pointed out
bank of new england corp bkne qtly dividend
in the second half of 1987 there will however only be a weak upward movement they said
israels exports to the us can and must double over the next five years if the mideast nations goal of economic independence is to be achieved said gad yaacobi israeli minister of economy and communication
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
baltimore gas and electric co said it filed a registration with the securities and exchange commission to sell 100 mln dlrs of unsecured debt
wilhelm christians said
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
in a filing with the securities and exchange commission soros said his group bought a net 498800 king world common shares between jan 8 and march 6 at prices ranging fropm 18924 to 21203 dlrs a share
poehl sees good chances for currency stability
oil analysts and traders said they were not sure if the shutdown will continue to raise us oil prices
per share figures come after preferred dividend requirements
but there have also been setbacks like brazils payments moratorium
the remainder of the funding would be conducted by traditional tender and tap issue means
zayre corp 4th qtr shr 73 cts vs 60 cts
pretax profit comprises securities and money broking 1544 mln stg vs 1075 mln personal financial services 36 mln vs 735000 stg media 374 mln vs 316 mln market reserch 912000 stg vs 732000 net interest 438000 vs 103 mln
the coupon rate is 962 pct and the loan life is eight years
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
standard bank unable to make earnings forecast
qintex says princeville pvdc in credit deal
he said the latter two tranches were less strongly oversubscribed
also the a 1 debt of standard oil and sohio pipeline and debentures of sohio bp trans alaska pipeline guaranteed severally and not jointly by bp and standard
shr 278 dlrs vs 255 dlr net 3020 mln vs 2716 mln revs 20 billion vs 21 billion
texon energy txon in talks on acquisition
the factors affecting the us currency have not changed since before the paris accord they added
the rigs one of which was heavily shelled by four american destroyers on monday were still burning almost 24 hours after the attack he said
treasurys baker fully expects brazil to strike deal with private creditors
mthly div 85 cts vs 92 cts in prior month payable april six record marcxh 30
wedgestone realty investors trust said it has issued institutional investors 10 year warrants to buy 575000 shares at 1650 dlrs each in connection with the previously announced sale of 10 year promissory notes to the investors
the ec had so far only agreed to provide 380 mln ecus towards transport modernisation
bolivian debt buyback plan gains ground
but us manufacturers still are losing markets on their own doorstep to taiwan and korea whose currencies have not risen as much as the yen and the mark
it added that it now owns 164 pct of the outstanding common stock of orion
ceasars world says it is studying unsolicited 28 dlr per shr offer by martin sosnoff
they also list abdulla bakr president of the university of petroleum and minerals economist ali jonahi ahmed shinawi and zuheir masoud director of jeddah islamic port
gelco corp 2nd qtr shr 67 cts vs 23 cts
1986 results include gains from retroactive adoption of new accounting rules for pension on jan 1 1986 of 26 mln and 77 mln dlrs for third quarter and nine month periods respectively
meritor savings bank a us savings and loan is issuing 200 mln dlrs of collateralised eurobonds due april 14 1992 priced at 101 3 8 with a 7 1 2 pct coupon lead manager goldman sachs international corp said
the average effective rate for fixed mortgages was was 951 pct down 30 basis points from the early january level
an investment group leds by robert m
the kwacha slid to around 15 per dollar under the auction system losing 85 pct of its value in 16 months
there was a lot of interest in direct investment via an equity participation in latin america particularly from west german firms
knutson mortgage corp knmc sets quarterly
it also lowered the ratings of gelco unit cti international incs senior debt to ba 3 from ba 2 and ctis subordinated debt to b 2 from b 1
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
current law requires the united states to vote against such loans but carries no reprisals if they pass anyway
quaker oats oat sells vernells fine candies
numac oil nmc sees results improving
its ridiculous to say that somebody is going to buy your product if they can get the same thing at a lower price somewhere else shultz told the farm leaders
national distillers earned excluding the liquor businesses 221 dlrs per share for 1986
purolator had traded above the hutton offer price on speculation a new bidder would emerge
west german exports to latin america declined by 41 pct in 1986 to 11 billion marks
year ended march 31 1987 fin div 925p making 12p vs 1074p shr 283p vs 275p pretax profit 5563 mln stg vs 4936 mln net 3880 mln vs 3364 mln turnover 44410 mln vs 30985 mln net interest payable 350 mln vs 379 mln profit share of related companies 762 mln vs 964 mln note the de la rue co
he said that natural float had been acting a bit strangely for this time of year noting that there had been poor weather during the latest week
terms will be fixed on march 10 involving a premium of about five pct above a six day average
live cattle exports are in addition to the meat purchase requirements the department said
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 news conference
trading was not very active and dealers were watching for further central bank intervention to smooth out any sharp movements but underlying dollar sentiment is still bearish
finance from official lending agencies had been virtually closed since 1982
members states of the organization for economic cooperation and development have pledged not to offer concessional credits on manufactured products sims said
he said that while the figures were not good they showed the problem did not lie with the banking system as a whole but with regional differences in economic performance
alcan aluminum corp a subsidiary of alcan aluminium ltd said it increased its us primary aluminum prices by two cents a lb effective yesterday
taiwan does not allow direct trade with china and indirect trade is routed mainly through hong kong
as a result of the 1986 losses the board proposed cancelling dividend for the year although it predicted a return to profitability during 1987 the statement added
but finance department documents show the pace of deficit reduction was expected to slow temporarily in fiscal 1989 and 1990 as a result of lower oil and grain prices and the transition to the reformed taxation system
the acquisition has been approved by avons board with the closing set for may 7
in the six months to february m2 which excludes time deposits with statutory withdrawal notice rose at a seasonally adjusted annual rate of 88 pct and m1 which consists of cash and sight deposits rose seven pct
exports in 1985 86 at 6036 vs 6008 last month
the following proposed securities offerings were filed recently with the securities and exchange commission evans and sutherland computer corp escc offering of 50 mln dlrs of 25 year convertible subordinated debentures through hambrecht and quist inc
the companys debt to equity ratio will rise 11 or 12 percentage points from the current 33 pct if the offer is completed chase said
in 1979 the ratio of interest bearing accounts to current accounts was 27 to 73 pct
output of manufacturing industries fell a provisional 23 pct in january after a 02 pct rise last december
state owned indian railway finance corporations first ever bond issue has been oversubscribed by 35 to 60 billion rupees brokers said
but the price gap between the first and second tier was large mangan said
businessland inc is raising 50 mln dlrs via an offering of convertible subordinated debentures due 2007 with a 5 1 2 pct coupon and par pricing said lead manager shearson lehman brothers inc
company officials were not immediately available to comment on the companys reorganization plan
it sold 825 billion francs of 850 pct june 1997 tap stock at a top accepted price of 9630 pct giving an average yield of 872 pct
international time is exclusive distributor of swiss corps tissot watches in the us
citicorp filed an 8 k form with the securities and exchange commission indicating a material change in its financial situation
avx corp avx debt affirmed by s p
an investor group led by robert bass of fort worth texas said it owns 786800 shares of bell and howell co common stock equal to 89 pct of the companys common stock outstanding
california micro devices corp said it has signed an agreement with grumman corps tachonics corp unit to develop and product gallium arsenide seminconductor chips
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
after falling to a record low of 14470 yen this morning the dollar edged back up in late trading to end at 14620
japan asks banks to moderate dollar sales jiji
reform when it comes will be in response to specific pressure rather than an all embracing program said chew
the framework for the transfers was signed yesterday by ec farm ministers after being agreed in principle by foreign ministers earlier
standard and poors is expected to rate the certificates aa morgan said
a government study has concluded the us will be dependent on oil from the middle east into the next century and must take steps to reduce its vulnerability the new york times said
the warrants indicated at 45 dlrs entitle the holder to buy a minimum of 500 dlrs at a rate of 179 marks per dlr
the crumbling of the plan has been accompanied by a dramatic reversal in the foreign trade account
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
the basic trend in the currencies is higher said anne parker mills currency analyst with shearson lehman brothers inc
m
on the domestic front dealers say investors are amply covered by a 42 billion guilder nine day special advance by the dutch central bank which has given the money market sufficient liquidity until friday when the provision expires
if there is no response from prime medical the group said it would consider the demand refused and would take other proper steps to get the information
none of the 14 large money center banks borrowed from the discount window during the week and all of the wednesday borrowing was made by the smallest banks
ideal school supply corp idel 4th qtr net
the company said it received financing for the transaction from first national bank of minneapolis and salomon inc sb
the worlds cocoa price at present is just not interesting commented one delegate representing a major cpa producer
its debt with private banks is about 30 billion dlrs
the upward deviations however are likely to be greater than the downward ones the balance between supply and demand in the short term will still be delicate he added
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
it will give att a lot more flexibility he said
gillette said consent for the bid is required under a standstill agreement between revlon and gillette before revlon can make any move on gillettes stock
both are payable july 27 to holders of record july one and the the split is subject to shareholder approval at the may 18 annual meeting of an increase in authorized common shares to 500 mln from 40 mln the company said
it said its board has instructed management to explore and develop with financial and legal advisors alternative courses of action to maximize shareholder values
the new inra will enter into force definitively when governments accounting for at least 80 pct of net exports and 80 pct of net imports have ratified it
last fall afg and privately held wagner and brown offered to acquired lear siegler inc for about 144 billion dlrs but withdrew the offer when higher bids emerged
the investment in one of wall streets top brokerage houses is likely to pay off in dollars and international market position they said
operators have now until early may to withdraw this sugar
in a briefing for reporters bank president antonio ortiz mena said that this year lending by the bank will be at a similar level to last year he noted that bank lending in 1986 was directed particularly to projects in energy agriculture and environmental and public health education and urban development
the stock was trading at 47 1 2 up 2 1 2 points
but banking sources said that the margin over libor was still a sticking point
spain to launch export drive
oii holdings corp a concern formed by kohlberg kravis roberts and co said it completed its previously announced acquisition of owens illinois inc
last years results were also badly hit by a once off writedown of 520 mln crowns for intangible assets
it said the acquisition would probably also include affiliate disc o mat inc which operates a number of record and tape stores in the new york metropolitan area
the mood in the us is turning increasingly protectionist and the ecs actions are fueling the chances of a trade war he added
utvegsbanki director halldor gudbjarnarson told the decision to privatise the bank was a relief and that foreign banks had already expressed interest in taking a share
can we not manage this lending a bit more imaginatively he asked the conference
current qtr and year figures include extraordinary loss of 69 mn dlrs and gain of 99 mln dlrs respectively
the rating agency said that downgrades would continue to outpace upgrades among financial institutions
the french franc was little changed at 30050 marks per 100 after 30055 yesterday
oesterreichishce kontrollbank ag is issuing a 100 mln canadian dlr eurobond due march 20 1997 at nine pct and priced at 101 7 8 pct morgan guaranty ltd said as joint book runner with ltcb international
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
you cant expect people to move from new york or sydney and trade down
economic analysts and bankers are optimistic the major banks will show profits in 1987 helped by higher income from treasury and investment banking activities
petrie stores corp pst sets quarterly
oreilly said heinz will concentrate on backing its big brands new products and services new geography internal growth and acquisitions
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
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
georgia gulf corp gglfo 3rd qtr net
japans ruling liberal democratic party yesterday outlined a package of economic measures to boost the japanese economy
the turkish ore bulk oil vessel obo engin 78078 tonnes dwt had an explosion in its boiler yesterday lloyds shipping intelligence service reported
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
actual spending last year fell short of the budgeted figure of 32 billion dlrs as oil companies slashed expenditure because of the crash in world oil prices
and air canada is on the verge of going that way he said
so long as those discussions continue no recommendation will be made to standard oil shareholders regarding the offer standard said
n
two of the groups members venezuela and mexico are second and third largest foreign suppliers of oil to the united states respectively following canada
commercial paper outstanding nationally dropped 13 mln dlrs to 33602 billion
lennar recorded net earnings for the first quarter 1987 of 4403000 or 51 cts per share compared to 1775000 or 20 cts per share the prior first quarter
the banks plan also emphasises retail and medium and small sized business operations he told 
the bond will be available in denominations of 1000 and 10000 ecu and will be listed in luxembourg
output reductions by producers will take effect later this year but are likely to be offset by increases elsewhere
the bonds will each carry eight warrants each giving the right to subscribe to one 100 franc nobel share at 140 francs between june 1 1987 and may 31 1994
chicago pacific corp is raising 150 mln dlrs through an offering of convertible subordinated debentures due 2012 with a 6 1 2 pct coupon and par pricing said lead manager goldman sachs and co
protocomdevices inc said it has seen more erosion of its general financial condition since december 31 and is actively engaged in negotiations to secure additional financing
the government estimated florida orange production excluding temples at 1229 mln boxes versus 124 mln last month
ual inc said it completed the acquisition of hilton international from transworld corp twt paying 9825 mln dlrs in cash and securities
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
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
the pact also allows a three month extension if warranted and limits the obligation of the new company to give financial support to the businesses to be divested pending their sale
marcos was toppled by a military civilian revolt in february 1986
it is definitely a control in the sense that theres no longer complete freedom to operate one broker here said
competition may also come from new gold coins including belgiums ecu which began sales today
gross proceeds of 708 mln dlrs will be added to the working capital cancapital corp
zambia copper investments ltd johannesburg march 23 halfyear ended december 31 shr net 53 us cents vs loss 367 pre tax 677000 dlrs vs 857000 net earnings 646000 vs loss 450 mln foreign tax gain 31000 vs 30000 extraordinary items nil vs loss 533 mln period
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
the finance ministers statements came as the government is under sharp criticism for failing to obtain new credits despite its insistence on repaying the foreign debt according to the terms of a rescheduling accord reached last february
usg corp is raising 100 mln dlrs through an offering of notes due 1997 with an eight pct coupon and par pricing said lead manager salomon brothers inc
avinda debentures converted to common shares
commerce said petroleum imports during 1986 fell 166 billion dlrs or 33 pct to 339 billion dlrs because of lower prices
indonesias foreign minister mochtar kusumaatmadja told in jakarta these agreements can work as long as the problems are cyclical but its another matter when there are structural problems but we are still committed to commodity agreements as an act of faith nicaraguan external trade minister alejandro martinez cuenca said in london producers cannot afford not to give their backing to commodity agreements
indonesia signed an agreement to borrow up to 150 billion yen in an untied yen loan from japans governmental export import bank a bank spokesman said
thailand buys yugoslav cranes in barter deal
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
gaf said it would make a tender offer following a merger agreement approved by the borg warner board and conditioned on the boards recommendation of the tender offer and merger
borg warner bor to sell unit for 240 mln dlrs
the rains replenished formerly low soil moisture reserves with reserves in all areas now rated good the report said
he also said economic growth has kept pace with or surpassed the growth in debt for nine of the 15 major debtors since 1983
westworld community healthcare inc said it is extending by ten days to march 27 its exchange offers for subordinated notes and debentures
the bank of japan alone is estimated to have bought about six billion dlrs in march in a bid to prop up the dollar
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
oil and gas are found in sand layers at the depth of 2300 metres within the baong formation he said
ecsc issues 100 mln stg eurobond due 1992
the european community ec cereals trade lobby organisation coceral said it has written to ec farm commissioner frans andriessen to propose a new system for sales into intervention which it claims could save the ec budget money
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
congressman says us unprepared for oil cutoff
metromedia co said morgan guaranty trust co of new york filed a complaint against metromedia for default under the indenture to which its subordinated debentures are outstanding
the board also said it intends to increase the regular quarterly dividend by 43 pct to five cts a share reflecting the split
it said the purchase includes 35 restaurants in ohio operates by sisters giving sis a total of 55 restaurants and franchise relationships in six midwestern and southern states
dividend eight pct or 160 guilders per ordinary share vs same and five pct vs same for priority and preferential shares
the surprise conciliatory move by the us meets one of the producers main concerns that the floor price or lower indicative price remain unchanged they said
city resources is controlled by city resources ltd of australia
british bank base lending rates are likely to fall by as much as one full point to 9 1 2 pct this week following the sharp three billion stg cut in the uk central government borrowing target to four billion stg set in todays 1987 budget bank analysts said
the new price for high grade zinc is 37 us cents and 49 1 2 canadian cents a pound the company said
the industrial production index base 1980 stood at a provisional 1041 in february against 1009 in january and 1045 in december
finance minister barend du plessis said last month that in the forthcoming talks south africa would give a fair deal to all creditors but not agree to unrealistic demands
ivory coast says coffee price fall short lived
the amex said the initial expiration months for hbj options are april may july and october
the government is serious about getting down to work but there are many individual agendas for growth and no consensus
analogic corp alog 2nd qtr jan 31 net
carolina power and light co cpl sets payout
petricioli nevertheless said baker showed flexibility in being prepared to accommodate different proposals and promised to look into alternatives
the taiwan dollar has risen about 15 pct against the us dollar since september 1985
despite these figures which reflected the dollars weakness against the mark and oil and raw materials price falls it said 1986 was a satisfactory year
combustion engineering said c e environmental which provides environmental sciences and management services had 1986 sales of about 24 mln dlrs
shr 38 cts vs 92 cts net 1042000 vs 2510000 revs 206 mln vs 296 mln
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
scitex corp scixf 4th qtr loss
australia feb current account deficit 750 mln dlrs vs jan 123 billion official
us urges banks to weigh philippine debt plan
western tele communications wtlca 4th qtr net
wright has made suggestions for raising taxes about 20 billion dlrs as part of a budget plan to reduce the deficit
but now fed officials will have to wait for the first quarter real us gross national product data in april to sort things out
edelman details burlington bur options sale
the new moves are based on wide ranging proposals made in late december by advisers to finance minister kiichi miyazawa
the june 25 buyout proposal which remains open until july 17 also provides that key members of digiorgio management and some of its directors would be invited to remain with the firm and participate in the group acquiring the company
new zealands broadly defined seasonally adjusted m 3 money supply grew an estimated 36 pct in december after rising a revised 24 pct in november and 404 pct in december last year the reserve bank said in a statement
in fujian the cost of producing one tonne rose to 702 yuan in 1985 from 5201 in 1980 cutting the mills profit to 117 yuan a tonne from 2179 it added
uk money market given 181 mln stg assistance
in that case it said if more than that minimum number of shares were tendered it would buy shares on a pro rata basis
the nearby april requirement for red beans will rise to 100000 yen from 60000 effective march 2
the sun pat british grocery concern increased profit and rowntrees small health food business holgates raised earnings 10 fold the statement said
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
the issue is guaranteed by sanwa bank ltd and is available in denominations of 5000 dlrs
it holds about 33 pct of pioneer
iranian prime minister mir hossein mousavi said iran had more effective missiles at its disposal than the shore to sea missiles which had provoked us concern tehran radio reported
venezuela moves closer to champlin purchase
the fed said that business loans including acceptances fell 546 mln dlrs to 27812 billion dlrs
urs corp urs 1st qtr jan 31 net
it added that sybron expects revenues for the current fiscal year of 242 mln dlrs with operating income of about 51 mln dlrs
he lyng simply told us he was not in any position to talk about an eep export enhancement program initiative to the soviet union said glen hofer vice president of the national council of farmer cooperatives
we hope they will be concluded by the year end he said
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
producers meanwhile say non member cocoa should make up at most a very small percentage of the buffer
us m1 falls 600 mln dlrs in march 2 week feb m2 down 16 billion m3 up 30 billion
the ec firms said they had been forced to offer their products at a discount of up to 30 pct in order to compete with the japanese
malaysia cut its 510000 bpd target output by 10 pct last september to support opec moves to boost prices and the latest cut would reduce output by 175 pct from 1986s target level
ecuadors finance minister domingo cordovez and iadb president antonio ortiz mena signed the loans after the iadbs annual meeting here
the dudley taft group theta corp which also includes narragansett capital corp a providence ri investment firm is seeking to take the company private in a leveraged buyout valued at 138 billion dlrs
the paper also said the minimum for opening a fixed deposit account had been cut to 50 yuan equivalent from 150 yuan
viner said its brokerage subsidiary edward a
div 50 won vs 50 won net profit 354 billion won vs 342 billion sales 42149 billion won vs 37792 bilion note company has set 1987 sales target of 5200 billion
sanwa plans to increase its stake in bpi to four pct the ceiling for foreign shareholders the official said
details of fees were not immediately available
he told a press briefing wednesday that manila has dropped a two tier interest payment offer which would have given banks a higher return if they took partial payment in new philippine investment notes pins instead of in cash
the agreement is subject to canadian regulatory approval
he said the most attractive new power supplies are those with short lead times which can be built in modules
yields per hectare are also likely to be adversely affected this year by insufficient rain up to 25 months ago
transamerican lawyer john nabors said the company values its total assets including an unused oil refinery at about one billion dlrs
purchase of part of champlins operations also fits a profile which pdvsa officials have said previously they looked for in any acquisition
fekete told in an interview hungary must achieve at least equilibrium on its hard currency trade
on march 12 the chatsworth calif computer disk drive concern said it agreed in a letter of intent to exchange 80 pct of its stock all of which would be newly issued for the assets of privately held hemdale film corp with hemdale as the surviving entity
jones and vining jnsv gets vulcan vul bid
results of operations between both years is not comparable since the partnerships principle objective is to sell or dispose of its assets and distribute proceeds to unit holders according to the partnership
this loan is for 15 years with nine years grace
dutch sugar trade deny involvement in offer
rep
it gave no year earlier figure
1987 3rd qtr and nine months includes 36000 dlrs and 129000 dlrs gains respectively from tax loss carryforward
they were responding to comments by london traders that large tonnages of unwanted cocoa beans from malaysia indonesia and papua new guinea png were helping to depress cocoa prices
the senate has passed a bill providing for a 75 billion dlr recapitalization for fslic
the bank has given the market assistance worth 1503 billion stg today to offset a shortage it estimated at a revised 160 billion
asta group inc unit in loan purchase
hartford national corp hnat declares dividend
honeywell bull was recently created by cie des machines bull bulppa honeywell inc and nec corp of japan
it said rating changes quieted in the oil and insurance sectors while utilities provided a positive influence
net proceeds will be used for working capital the company said
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
the purchase would include shells interest in 39 retail gasoline stations and four petroleum product terminals pri said
it said it will use the proceeds to repay its debt
igene biotechnology inc said its research teams at auburn and hebrew universities have found its patented pesticide is highly effective in combating a disease reponsible for approximately three billion dlrs in annual crop losses
jacor said the two stations are koa am and koaq fm
first interstate seeks acquisition
french regional financing group societes de developpement regional is issuing a 141 billion franc domestic bond banque nationale de paris and banque indosuez said
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
on grain he said the state will cut the quota it purchases from farmers by 50 mln tonnes and abolish the practice of purchasing through agents
lac minerals ltd said it will suspend underground mining and exploration at its lake shore mine at kirkland lake ontario on april 30 pending results of a surface exploration drilling program
g 6 is comprised of us britain france japan west germany and canada
they just arent he said
norwegian imports from south africa are limited mainly to high grade manganese and coppernickle ores used in it ferro alloys and light metals industries
antonovich furs initial offering under way
sandvik diamant boart finalise drills merger
fees for the issue comprise 1 1 4 pct selling concession and 5 8 pct for management and underwriting combined
there is concern that the action prompted by us charges that japan has been selling computer chip products below fair market value and has kept its own market closed to imports further undermining the international trading system
the three cyclops directors were replaced by dixons appointees on march 17 under an agreement reached between the two companies
it also noted that aircraft engine operating profit was much higher than a year ago caused by a increase in shipments than the 1986 quarter which was impacted by a strike
such spending totaled 318 billion dlrs last year down from 531 billion in 1985
the ministrys forecast assumed average 1987 crude prices at 13 dlrs barrel bbl but prices have risen enough to permit further production cutbacks the sources said
smith said the company ended 1986 with a strong cash position of about 639 mln dlrs as compared to 158 mln dlrs the year before
indias raw cotton export quota has been raised by 190000 170 kg bales to 600000 bales in 1986 87 ending august still well below the 1985 86 quota of 135 mln bales minister of state for textiles rn mirdha said
they said the shipment was for april 8 to 20 delivery
live hogs pushed ahead on a lack of supplies because many farmers are turning their attention to spring planting rather than marketing livestock traders said noting that cash sales have been lighter than expected this week
american can ac sells convertible eurobonds
pertamina has 69 production sharing or joint operation contracts with foreign oil companies
a total of 984960 tonnes were registered for main crop potato futures in february valued at 157 mln stg versus 992760 and 164 mln stg in january
turner broadcastings tbs cnn to air in china
the weighted average yield on 30 mln dlrs of 56 day bill was 2550 pct it said in a statement
house ways and means cmte finishes work on bill to toughen trade laws
quaker oats oat unit to retire debt
a notable loss was agriindustries of iowa which became affiliated with cargill inc
final terms are due april 16
indias credit policy aims to control liquidity
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
the net ratio at 26 pct left the group strongly placed to pursue its further development
india is a country that has come a long way in its ability to produce food and they have a great pride in that lyng said
bank of new york reaffirms terms for irving v 
the talks now in their second week are aimed at stretching out repayments of 36 billion dlrs of debt and granting easier terms on 58 billion of already rescheduled debt
merrill lynch capital markets and salomon brothers inc co managed the deal
papandreou repeated an invitation to turkey to take the long standing continental shelf dispute to the international court of justice at the hague
were just wondering if hes not just trying to get twa into play
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
traders in the state capital salvador told the effects of a dry period in the first six weeks of the year had been harsher than thought earlier
cash crisis hits ugandan coffee board
all signs point to the possibility of a modest recovery in the economies of these gcc countries although this expected growth will not be similar to that of the 1970s boom years the study said
voicemail international inc 4th qtr loss
meanwhile the dispute over a new work practice agreement in the ports grain sector continued with 30 maintenance workers on strike although loading was not affected a spokesman for graan elevator mij the largest employer in the sector said
last years performance was the worst since 1974 when gnp fell 14 pct
it also exports copra and copra meal
so far g 6 has been a roaring success said james oneill financial markets economist at marine midland bank na
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
before seasonal adjustment the number of homes actually sold in january was 53000 up from 49000 in december but down from 59000 in january 1986
crosby and certian members of his family agreed to sell their class b shares to new york real estate tycoon donald trump for 135 dlrs a share
the current 7 1 2 pct treasury bond traded down to 94 11 32 in tokyo this week pushing the yield to 798 pct
the company said the change in the japanese arrangement will give ajinomoto full equity ownership while leaving cpc a continuing earnings stream and cash flow
chilis inc said it filed with the securities and exchange commission a registration statement covering a 35 mln dlr issue of convertible subordinated debentures
canada consumer price index up 06 pct in may
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
morgan guaranty ltd will co lead manage the issue which will be sole in denominations of 10000 francs and be listed in luxembourg
one thing is going to be clear and that is im going to the meeting and putting up no greenmail gabelli said
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
another problem is a lack of liquidity in the existing markets owing to lack of private investor participation
denmarks net official reserves rose to 3634 billion crowns in february from 2800 billion in january against a revised 4585 billion in february 1986 the central bank said in its monthly balance sheet report
australia must rely on quality to retain its wheat market share because its competitors are supplying cheaper but lower quality grades the awb submission said
the us government has been requiring bond to be posted on imports of brazilian frozen concentrated orange juice since commerces preliminary ruling of last october 23 he said
president jose sarney rejected calls from foreign creditors and from some brazilian businessmen that the government talk to the international monetary fund
funaro renewed the request today
the algerian authorities have regulated the addition of chickpeas and barley used to make imported coffee go further the official aps news agency reported
its a reflection of what has happened in manufacturing industries said brian waterhouse at james capel and co
tomorrow de zeeuw is to meet the house ways and means trade subcommittee and the senate finance committee before visiting agriculture secretary richard lyng
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
the company said it had increased the dividend by 13 pct last december
that is 935 basis points above the yield of comparable treasury securities
the won was fixed at 80490 against the dollar on monday representing a 701 pct gain so far this year
shr 86 cts vs 96 cts net 297 mln vs 325 mln revs 295 billion vs 286 billion nine mths shr 230 dlrs vs 274 dlrs net 785 mln vs 916 mln revs 113 billion vs 111 billion note 1986 share results restated for 3 for 2 stock split in january 1987 1987 net in both periods includes business repositioning gains of 16 mln dlrs or five cts a share and gains from early retirement programs of 65 mln dlrs or 20 cts a share 1987 nine months net also includes pre tax charge of 175 mln dlrs for gtes share of a special write off at us sprint which reduced after tax net by 104 mln dlrs or 31 cts a share 1986 net in both periods includes business repositioning gains of 32 mln dlrs or 10 cts per share
it said the acquisition is part of its ongoing stategy to restructure its core businesses through cost reduction programs and the purchase of compatible companies
finance minister kiichi miyazawa told the same committee that the six britain canada france japan the us and west germany had intervened aggressively since the dollar fell below 150 yen
1985 year net includes charge 6900000 dlrs related to foodservice unit and gain 2400000 dlrs from sale of marketable securities
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
shr profit 20 cts vs loss three cts net profit 849299 vs loss 82512 revs 7929138 vs 3849224
but intervention is at least an option they said
charan is the exclusive distributor in canada for worlds of wonder toys which include the teddy ruxpin voice activated talking plush bear
talking point oil services turnaround seen
electricite de france is issuing 100 mln swiss francs of 3 3 8 pct notes with warrants issued by credit suisse attached to buy gold lead manager credit suisse said
ecuador unable to service debt central bank
phillips p to emphasize cash flow to pare debt
the combination of capital improvement programs and more employee involvement has been paying off throughout our paper operations roberts said
but some dealers said the icco buffer stock rules may put constraints on how quickly and effectively the buffer stock manager can remove cocoa from the market
key centurion keyc completes acquisitions
the bank said the cut was due to an inflow of foreign currency in march following stabler currency relations after januarys ems realignment
chinese vice premier tian jiyun said plans to scrap the countrys parallel currency foreign exchange certificates fecs had been postponed due to objections from foreign businessmen and others
it will still be half underwritten and half uncommitted but the underwriting margin has been raised to 10 basis points over the australian dollar bank bill rate
bci said its aims are to invest in established companies principally family companies with succession issues and corporate spin offs
low import prices in 1986 helped to keep annual inflation down to 08 pct
they said japan has so far been the main source of bilateral concessional assistance for china followed by west germany canada italy australia and britain
carolina eastman employs about 1350 and the kingsport units affected about 10800
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 net tax relief from the tax reform will amount to 25 billion marks
the labour council affiliated to the australian council of trade unions actu had threatened to paralyse new south wales unless the government modified its pending legislation on the issue
the united states said both platforms were being used to keep track of gulf merchant shipping and to launch speedboat attacks on such shipping by iranian revolutionary guards
argentine minister to seek release of loans
gander mountain gndro buys western wear firm
in a letter to shareholders appearing in the companys newly issued 1986 annual report coastal chairman oscar wyatt did not elaborate on how much earnings were expected to increase
he said the reagan administration has also displayed a determination to resist the currently strong protectionist sentiment in the us congress
integrated genetics inc said the food and drug administration approved field trials of a hormone which is essential to the regulation of cows reproduction
earnings per share reflects a 50 pct stock dividend in the form of a class b common stock distribution on june 30 1986
malaysia plans 16 billion ringgit loan issue
net 1986 profit 1326 mln guilders vs 1173 mln turnover 16 billion guilders vs same earnings per share 1600 guilders vs 1580 on capital expanded by 11 pct to 821 mln outstanding shares
the issues had been on creditwatch since january 2
it said its dealings in the companys common stock were for investment purposes only
he said the trade problem underscored the need to reform the us educational system to improve economic performance
sun alliance pretax profit 1804 mln stg vs 377 mln for 1986
a total of 14685 tonnes of british intervention feed wheat were sold at todays tender for the home market the home grown cereals authority said
they havent found too much oil in bass strait lately and esso needed a large pool of ongoing production goldston morris 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
allegheny internationals statement did not name or describe the first boston affiliate involved in the agreement
bankers trust new york corp bt qtly dividend
purolator announced earlier it was mulling a takeover bid but analysts wrongly predicted the offer was from another courier company
the bank of france also stepped into the french money market to hold down rates injecting short term liquidity at 7 3 4 pct after rates rose close to eight pct
net profit before minorities 296 mln vs 309 mln
despite repeated bank of japan intervention the dollar plunged to a post war low in tokyo today
flyfaire with annual sales of 100 mln dlrs is engaged in the wholesale vacation travel business
securities houses here have had difficulty selling six month debt financing paper called tankoku to overseas governments and central banks because of the tax system and the bank of japans book entry system which demands the accounts be kept with the houses rather than by the bank
there is no problem in financing it the prepayments constitute about 15 pct of current international reserves of 25 billion dlrs he 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
payment date is april 15
uae government paper yields unchanged
laroche starts bid for neco npt shares
michigan sealy had sales of about 125 mln dlrs in 1986
we hope they will be very profitable very shortly
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 payment date is may 7 and listing will be in luxembourg
ecofuel officials said the plant is modeled after one in saudi arabia
the ec charges the accord breached gatt trade rules by allowing tokyo to set minimum prices for japanese chips sold in third countries and is requesting a gatt dispute panel be set up to review the agreement
one month deposits declined to 6 1 4 1 8 pct from 6 1 2 1 4 on monday while three months was barely changed at seven 6 15 16 pct
hazleton shareholders will vote on the proposed merger at a special meeting on march 31
bull and bear group a said it lowered its monthly dividends on three of its funds
iowa resources inc ior declares qtly dividend
gmac saved some basis points with this technique said an officer on korths syndicate desk
holders of sobeys class a non voting shares and class b common shares may elect to receive either 16 non voting class a empire shares or one non voting class a empire share and one half of an eight pct redeemable retractable preferred share
national bancshares corp of texas said it has completed the previously announced sale of 90000 credit card accounts of to lomas and nettleton financial corp lnf for 456 mln dlrs resulting in a gain of 5800000 dlrs
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
the company last changed its crude postings on jan 12
tax reform will also change foreign tax credit limitation rules and although the impact will not be material in the short term the act will require for the first time that income from certain foreign subsidiaries be taxable the report said
he said the commerce department estimated us shipments of processed pollock products and herring should rise to 85 mln dlrs this year and to more than 300 mln dlrs annually in later years
they were priced to yield 686 pct drexel said
the new mexico republican said the report did not take into account the last few weeks drop in domestic oil production in its statement that an oil fee would raise prices for consumers
nynex increases qtrly div to 95 cts from 87 cts end of body
yochum said that at the companys current level of earnings it could comfortably maintain higher debt levels and that westinghouse will use its debt capacity to improve shareholder value
county ltd which is acting in concert with tesco plc tscol in its 1514 mln stg for supermarket chain operator hillards plc has purchased 300000 hillards ordinary shares at 316p per share a statement said
south africas director general of finance chris stals said he was optimistic about reaching a mutually acceptable agreement with foreign bank creditors in debt renegotiation talks scheduled to begin next month
stanline inc stan 1st qtr jan 31 net
placer plc to increase stake in equity silver
the oecd forecast that spanish imports would rise sharply next year reflecting strong demand entry to the european community and declining competitiveness
us lawmakers support gulf action
kloeckner sees further growth in engineering
the governments tight fiscal position is not expected to change it said
shr 23 cts vs 17 cts net 1742000 vs 11512000 sales 626 mln vs 536 mln avg shrs 7854000 vs 6617000 year shr 61 cts vs 61 cts net 4469000 vs 4039000 sales 2098 mln vs 1754 mln avg shrs 78369000 vs 6610000
in february retail prices rose 72 pct from january to stand 916 pct higher than in february 1986
it estimated the 1985 86 crop at 1706 mln tonnes vs 1714 mln last month
under existing criteria usda can offer eep subsidies to recoup export markets lost to competing nations unfair trading practices
humana hum to buy intl medical assets
lenders however want less risk higher profit transaction oriented and less labor intensive activities
it proposes that applications for intervention be made through a certificate valid for execution three months later
the increase came after a 06 pct increase in producer prices in january
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
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
japanese investment at home could start to pick up once markets have stopped reacting to wall street the managers said
shr primary 64 cts vs 45 cts shr diluted 60 cts vs 44 cts net 4524000 vs 3212000 revs 2025 mln vs 1719 mln avg shrs primary 7112480 vs 7052964 avg shrs diluted 8034223 vs 8008763 year shr primary 170 dlrs vs 131 dlrs shr diluted 165 dlrs vs 130 dlrs net 121 mln vs 9252000 year revs 6124 mln vs 5234 mln avg shrs primary 7112480 vs 7052964 avg shrs diluted 8034223 vs 7732544 note includes after tax lifo charges of 441000 dlrs vs 359000 dlrs for qtr and 539000 dlrs vs 407000 dlrs for year
thailand exported 129 mln tonnes of rice so far in 1987 down from 139 mln tonnes a year ago
computer memories said hemdale agrees with this course of action
the federal reserve will probably intervene in the government securities market to add reserves today economists said
applebaum who is also positive on armco and inland has been recommending the stocks since last november
overall carter predicted beet plantings would rise in the midwest and this coupled with increases in california would increase us sugarbeet plantings slightly from the 1232 mln acres sown last year
oil analysts and traders said they were not sure if the shutdown will continue to raise us oil prices
it said the two shelard banks have a total of five offices in the minneapolis st
the stock markets reaction today and its sharp drop on march 30 shows how the loss of confidence could come about
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
union secretary sam jennings said weve got two days of talks
japan mexico south korea italy and israel were the major purchasers the department said
1987 qtr and nine mths includes gain 105 mln dlrs and 332 mln dlrs respectively from utilization of net operating loss carryforwards
some said it was likely to return to within the target range later this year
the five year term loan carries an interest rate of japanese long term prime rate flat
ladd furniture incs clayton marcus furniture subsidiary said it completed the previously announced purchase of privately held colony house furniture inc for an undisclosed amount of cash and notes
however the banks are now prepared to consider taking the stake if they find an investor willing to inject six to seven mln dlrs in the company but not take control the banking sources 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
analysts said the yen also gained as traders unwound long sterling short mark positions established lately
the house ways and means committee completed action on legislation to toughen us trade laws chairman dan rostenkowski said
the us general services administration sold 5490 tonnes of tin in 1986 well above an agreed upon annual limit of 3000 tonnes the states of malaya chamber of mines said
efhutton lbo also declined comment on the emery offer but said it extended the expiration and withdrawal period on its offer to april six at midnight from today at midnight est
comments by japanese officials and bank of japan dollar support had pushed it above 145 yen and 180 marks after falling as low as 14450 and 17860 respectively in tokyo
vulcan vul sees first quarter operating loss
citibank raised its prime rate by one quarter of a point and the move was followed by other banks
nothing has changed substantially to give the dollar a big boost said one dealer while another italian banker said he expects the dollar to trade between 177 and 187 german marks in the next three months
tesco plc tscol said in a statement it expects pre tax profits of 166 mln stg for the year ending february 28 1987 before nine mln stg of net property profits
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
the dollar opened at a record tokyo low of 14375 yen despite aggressive bank of japan intervention dealers said
pratt prat offer for resorts rt expires
south korea signs for 446 billion yen credit
in a filing with the securities and exchange commission the group said it bought 32800 robeson common shares between jan 26 and feb 9 for 175691 dlrs
the company is expected to give fuller details of its results at a news conference on april 22
consumer prices rose by 161 pct in the year to january
the offer would be on the basis of three willis shares for every two in stewart valuing each stewart share at about 6555p
intermark said it also has 341991 shares of pier 1 preferred stock or 352 pct of the outstanding while pier 1 holdings has 74225 shares or 76 pct
the committee had originally been due to meet in vienna this week
tertiary industries provide services to manufacturers and a downturn in manufacturing profits will adversely affect service industries he said
the company said it plans to operate 57 of the stores as mccrory five and 10 variety stores and close the others by the end of july
the delegates include us trade representative clayton yeutter
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
heating oil prices rose 30 pct in february after a 180 pct rise in january the department said
securities houses bid aggressively as big retail accounts such as tokkin special money trust and trust funds have been showing strong interest in tankoku on increasing demand for short term fund management securities house managers said
foreign minister tadashi kuranari will accompany nakasone ministry officials said
the company said that the improvement had been achieved by substantial organic growth in existing stores as well as by the opening of a further 29 new outlets and enhanced margins
rte corp rte 3rd qtr net
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
banks have been indicating they will not renew credit lines in response to the brazilian move
the financing will be for seven years with four years grace and will allow the borrower to make drawings in us dollars
it said unemployment was expected to fall to 675000 this year from 710000 last year
marion laboratories inc said its board declared a two for one common stock split in the form of a dividend with distribution april 21 record march 25
in the interview baker declined to comment about the recent paris accord among the six leading industrialized democracies when he was asked why the us agreed to stabilize the dollar at current levels when the trade deficit hit a record level last year
this compared to a revised 04 pct decline in january previously reported as a 01 pct decline
bowater 1986 pretax profits rise 156 mln stg
while few foreigners are interested in the secondary market japanese commercial banks regional banks life insurers and other financial institutions are eager to buy the bonds and await their flow back to japan since they offer little currency risk traders said
not that long ago maybe even just six months ago these two airlines were totally fiscally irresponsible
the securities are priced at 25 basis points over the three month london interbank offered rate libor payable quarterly
endotronics endo halted pending news release
sterling drug inc sty 3rd qtr net
a telecom spokesman said the agreement calls for payment of all but 29 mln dlrs of the price at closing
piedmont pie agrees to usair u buyout
the banker said today a letter of intent was signed three weeks ago but the sale requires approval from government agencies charged with selling private sector assets taken over by state owned banks
it has a circulation of 200000 and is the largest of its kind in the world the company said
argentine vegetable oil shipments in 1986
refinery netbacks in singapore were also lower with heavier and sour crudes weakest
shr 31 cts vs 31 cts net 226000 vs 173000 assets 731 mln vs 625 mln deposits 546 mln vs 515 mln note earnings per share for 1987 affected by issuance of 166750 shares of common stock in december 1986
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
and accrued interest on the 40 pct will be waived as long as the first tranche is met in full
the key difference between the two approaches is that the us wants farm subsidies eliminated while the ec is pushing only for a reduction in farm suppports samuels said
charan reported profit of 30 mln dlrs in 1985
citizens growth citgs omits quarterly dividend
the us agriculture department forecast the soviet 1986 87 wheat crop at 9230 mln tonnes vs 9230 mln tonnes last month
production costs are about 56 to 57 cents a pound now compared to one dlr a pound in 1981 some wall st analysts said
gunze sangyo issuing 25 mln swiss franc notes
he told a briefing of economic journalists that i dont think we should rush anything lawson stressed the themes of gradualism and steadiness as economic policy
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
a spokesman said the changes were made because of the pending tender offer for the companys stock
contents of the report were leaded well ahead of issuance
opening stocks in west malaysia at the start of this year were put at only 565000 tonnes compared with 914000 in january 1986 oil world said
the adjacent property is expected to begin in 1989
us economy slowdown raises recession fears
sanwa bank acquires small stake in portuguese bank
the principle of consensus on which the panels operate was challenged recently when citibank ironically the original architect of the committee system stubbornly refused for a time to endorse financing offers to the philippines and chile
sosnoff now holds about 41 mln caesars world shares or 136 pct of the companys 30 mln shares outstanding
hall will assume the duties of chief executive officer
smaller price rises for motor fuels and declines in new car prices and finance charges were responsible for the moderation
ec awards 123000 tonnes barley export licences at 13875 ecus per tonne traders
golden north has encouraging drill results
he said if exchange rates stabilize nissan will have a strong profit recovery in fiscal 1988 and profits for fiscal 1989 better than those before the yen started advancing
australian prime rates have now retreated from a recent peak of 19 pct in october in line with declining money market levels
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
on the other hand ortner said that he thought that the yen is still a little bit undervalued and could go up another 10 or 15 pct in addition ortner who said he was speaking personally said he thought that the dollar against most european currencies was fairly priced ortner said his analysis of the various exchange rate values was based on such economic particulars as wage rate differentiations
those rights are now being challenged by the european communitys ec agricultural support policies he told a conference sponsored by the american soybean association
to date 3863000 dlrs principal amount of the securities has been tendered under the offer it said
that saved more than two billion dlrs penner said
we want to call this a sugarcane industry instead of the sugar industry he said sugarcane could be fed to pigs and livestock used for thatching roofs or used in room panelling
some steps have already been taken interest payments for chile have been stretched out and banks are debating whether to accept partial interest payments from the philippines in paper instead of cash
it said it only about 450000 shares or 65 pct of purolator shares had been tendered and not withdrawn down from an 115 pct interest held earlier
next world trade negotiations must succeed nz
there are likely to be at least 10 participating banks and perhaps as many as 28 they said
groups of major banks had decided that the international arena was not to their liking
but g 7 finance ministers judged by recent statements may be at an impasse analysts said
empi inc empi 4th qtr loss
as the tonnage required under cargo preference goes up its going to be harder and harder to meet kay said
the vat compulsory registration period was being extended to 30 days he added and vat registration thresholds are to be raised to 21300 stg
canadas major banks will likely face stiff pressure to declare their brazilian loans non performing if as expected major us banks take similar action after the end of their first quarter tomorrow analysts said
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
february imports measured in terms of value totalled 3211 billion marks a decline of 10 pct against february 1986 but a rise of 55 pct against january
the federal reserve entered the us government securities market to arrange three day system repurchase agreements a fed spokesman said
the senior banker said that the remaining issues include interest rates and the exact form of the investment notes plan
ems currencies saw the french franc end unchanged from last night at 3003 06 marks per 100 with the belgian franc easing however to 4829 831 marks per 100 from 4831 833
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 federal reserve entered the government securities market to arrange two day repurchase agreements for system account a spokesman for the new york fed said
payment date is also march 25
others said stocks could be down one to five mln barrels
several other banks queried by said much the same thing
richton international corp rihl 3rd qtr jan 31
the company then reached an agreement with a consortium led by sino land co ltd sinohk to buy a commercial complex that is still under construction for 19 billion dlrs
it said each south atlantic share would be exchanged for one safco share and each independence share for 2822 safco shares
amoco corps wholly owned amoco canada petroleum co ltd said its proposed 522 billion canadian dlr acquisition of dome petroleum ltd will benefit canada just like the foreign investment that made possible commercial development of albertas oilsands
jaguar plc jagrl is about to sell its new xj 6 model on the us and japanese markets and expects a strong reception based on its success in the uk chairman sir john egan told a news conference
such a purchase would bring cumulative buffer stock purchases to 26000 tonnes
shearson lehman brothers inc co managed the two tranche deal
stuarts department stores stus 4th qtr net
in that period it lost 284 mln dlrs on sales of 2624 mln dlrs
oppenheimer said it sold the 243400 share stake on march 27 at 9500 dlrs a share
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
exxon xon raises heating oil price traders
gleske also was strongly sceptical that an international system of binding target zones for currencies fluctuating in narrow bands against each other can be established
the key all ordinaries index rose to a record 17583 today nearly 20 pct above its level at the end of 1986 while the gold index has nearly doubled to a record 30810 in the same period
paper will be issued in denominations of 500000 dlrs and will have maturities between seven and 365 days
a major loophole in the general agreement on tariffs and trade has been closed today a senior us official here commented
financing terms of the proposed acquisition are unknown including afgs equity contribution to the partnership
bank negara also said in its annual report that gross national product gnp is expected to grow by 35 to four pct after declining 73 pct in 1986
on that day the dollar fell as low as 15040 yen
american woodmark amwd to build plant
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
the company said it believes the conditions of the commitment letter will be satisfactory to princeville
barreto told reporters his aim was to have epac readmitted to the tenders
it said sales for the first quarter were about 8363000 dlrs up from 6636000 dlrs
ferro corp foe sets joint venture
terms were not disclosed
under terms of the merger agreement chatsworth said lotoquik shareholders would own a majority of the surviving company
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
aaron spelling productions inc sp 2nd qtr net
international clinical laboratories inc iclb 
ivory coast rainfall this season has been less than in previous years but 1986 87 cocoa and coffee production has not suffered the official ivorian daily fraternite matin reported
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
one senior bank credit officer said the work is largely done in terms of identifying bad loans and making provisions but banks are still going to face difficulties earning money the sudden decline of saudi arabias corporate sector in 1983 culminating in a number of debt reschedulings has taken a heavy toll of bank profits with first results now appearing for 1986 showing a fourth successive year of broad decline
it said the increase is in addition to recently announced increases and applies to carpet paper nonwovens textiles adhesives and other specialty end uses
these two have already shown their effectiveness for hedging and the trade in both contracts is increasing he added
nippon life shearson tie up seen setting trend
in the 90 minute speech to the congress lusinchi summed up the achievements of his administration which took office in february 1984
the federation in letters to congressmen proposed that a nine member commission be set up to study all aspects of the issue and report back to congress in about two years
while the vibrancy of the us economy has contributed enormously to the world expansion preserving a growing world economy is the business of every member of the world trading community he said
subscriptions remain open until 1300 gmt tomorrow april 9
the offer capitalises ic gas at around one billion stg
in its latest half yearly review of the world economy the oecd said japan managed to considerably reduce its surplus last year when domestic demand grew by four pct in 1986 while export markets rose by only two pct
temperatures were too low for the season and the rain has hampered field work and occasionally led to water logged fields
jason benderly of goldman sachs and co noted that the us trade picture improved in the fourth quarter as net exports grew at a 20 pct annual rate while the rate of increase in imports fell to only six pct and that it continues to improve in the first quarter
sun sun cuts heating oil barge price
dayton hudson thursday night met with minnesota governor rudy perpich appealing for legislative help
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
under ec regulations however operators have another four to five weeks to withdraw the sugar from intervention before payment is made for it
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
the proposed share out would still include shortfall declarations they said
secretary of agriculture richard lyng will meet with representatives from major grain exporting companies today and the subject of subsidized wheat to the soviet union will likely be discussed an aide to lyng said
itts itt hartford unit posts 4th qtr gain
any taiwanese shortfall should be awarded to the philippines or at the least we should share a hike with the dominican republic the usda last december listed 1987 sugar import quota allocations for the dominican republic at 160160 short tons and for taiwan at 10920 short tons
fed sets two day system repurchases
he gave no details but said france wishes to have normal relations with iran
international mobile machines corp immc offering of one mln shars of cumulative convertible preferred stock through drexel burnham lambert inc and butcher and singer inc
walgreen co wag 2nd qtr feb 28 net
a spokesman for the state owned tin mining company pt tambang timah told it would be easy for indonesia to stick to an export quota of 24516 tonnes because this was close to exports in calendar 1986 of 24636
vipont laboratories inc said the canadian bureau of non prescription drugs approved its viadent toothpaste and oral rinse for marketing
olin corp said construction was completed on a 150 mln dlrs chlor alkali plant it owns jointly with ei du pont de nemours co
zambia will retain its foreign exchange auction system despite the suspension of weekly auctions since january 24 president kenneth kaunda said
metromedia long distance said it has introduced oneplus wats a telecommunications service for high volume callers
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
but he said the exchange is studying the feasibility of other contracts including one for three month mark interest rates and possibly a government bond contract
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
china can play an important role by actively joining gatt discussions seeking to expand general trading opportunities and enhance market access for exports worldwide
newmont holders will receive 80 pct of magmas stock as a dividend of one share for each of the 30458000 newmont shares now held
banque generale du luxembourg sa will act as listing agent and fiscal agent the spokesman added
export development corp is issuing a 15 billion yen eurobond due august 28 1992 paying 4 1 2 pct and priced at 101 7 8 pct lead manager bank of tokyo international said
the february trade surplus was well up on the 684 billion mark surplus posted in the same month of 1986
will it work he asked
of a total of 745 billion dlrs debt outstanding only some eight billion had been swapped into another currency
all bids for wheat were rejected they said
it said integration of addressograph farrington inc a private company acquired on aug 25 1986 is proving more difficult than expected
iranian oil minister in uae talks
convoy runs gulf gauntlet other ships stay clear
in recent years good autumn weather has given yields a late boost making up for lower areas despite some disappointing starts to growing seasons
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
gunze sangyo sets 25 mln swiss franc notes issue
the dow jones industrial average slumped more than 200 points at one stage and us treasury bonds dropped about 1 3 4 points
if such a range does emerge from the meetings we will have one more rally in the yen horner said
sri lanka appeals for drought relief aid
hanover insurance co said its board declared a quarterly dividend of nine cts per share payable may 15 to holders of record april 17
the telex issued on may 19 was signed by carlos hernandez delfino manager of the banks department of international operations
we explained that the process of restructuring the economy away from its dependence on exports toward a balance between domestic and external demand would take time saito said
chancellor of the exchequer nigel lawsons budget speech was described as sound and well balanced by analysts if slightly lacking in excitement
the terms of the previously announced deal were not disclosed
it makes brand name interconnection products
period ended may 2 shr loss four cts vs loss three cts net loss 397000 vs loss 330000 revs 321 mln vs 304 mln note full name marks work wearhouse ltd
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
treasurys mulford says g 6 has no currency target zones ranges
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
the redemption price will be 111138 pct of the total principal amount of notes then outstanding plus accrued interest to the redemption date it said
government beef policy protects farmers rather than meeting consumers demands and the cutback is too marginal a housewives association of japan official said
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